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Renew Energy Global plc (RNW) stock

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NASDAQ: RNW Nasdaq Renewable Electricity

B Fundamentals grade

Renew Energy Global plc is a US-listed company in the renewable electricity industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$6.0

Valuation models combined (2)

Base case. Range ~$5.3–$6.3. Weighted average of 2 models (utility earnings model, price-to-earnings vs peers), the utility earnings model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Renew Energy Global plc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds101 adding, 50 cuttingOf 25 active managers that changed their stake, 16 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Renew Energy Global files

Where Renew Energy Global stands after its latest Filing

Revenue for the twelve months was $1.50bn, up 30.4% on a year earlier, faster than the 16.9% growth a quarter earlier. Free-cash-flow margin rose to 48.3% from 36.8% a year earlier. Operating margin widened to 10.6% from -20.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 0 of our 7 financial-health checks. Our valuation models combined value is $5.95 a share, against a share price of $6.85.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Renew Energy Global plc's trailing-twelve-month revenue grew 30.4% year on year, with a free-cash-flow margin of 48.3%. Where it stands out: free-cash-flow margin of 48.3% ranks 1 of 10 renewable electricity companies we cover. Where it lags: long-term debt as % of assets of 50.0% ranks 8 of 9 renewable electricity companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 30.4% (+13.5pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 30.4% over the last 12 months, against a median of 10.6% for renewable electricity companies we cover.
  • Growth speeding up. The growth rate is 13.5 points higher than a quarter earlier.
  • Strong cash generation. 48.3% of revenue turned into free cash flow, against a median of -22.3% for renewable electricity companies we cover.
  • Shrinking share count. Diluted shares fell 73.7% in a year, so each share owns more of the business.

Things to watch

  • High debt. Long-term debt exceeds cash by $5.4bn, more than 1.5 times annual revenue.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 50.0% ranks 8 of 9 renewable electricity companies we cover (median 25.6%).

Latest results

Earnings per share
$16.11 against an average estimate of $11.62: beat by 38.7%
Next report
November 2, 2026

Renew Energy Global's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day0.0%
  • 1 week-0.3%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.5B
Operating margin
10.6%
Net margin
7.4%

Growth

Revenue growth
+30.4%
Change in growth rate
+13.5 pts

Cash

Free cash flow (TTM)
$555M
FCF margin
48.3%
Stock pay % of revenue
0.7%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for RNW from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Renew Energy Global plc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Renew Energy Global plc as an utility or power producer, with every model that fits that kind of business. Cost of equity 7.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.48 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$6.3 ~$5.2–$7.9 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$5.3 ~$5.3–$7.3 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.1 Left out: out of range vs price (0.02x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: pays no regular dividend
Combined value Weighted average of the models that apply: the primary model (utility earnings model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$6.0 ~$5.3–$6.3 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Renew Energy Global plc with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Renew Energy Global plc: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $11.62 $16.11 +38.7%
Mar 2026 −$19.05 $2.09 +111.0%
Dec 2025 −$10.85 −$0.59 +94.6%
Sept 2025 $13.81 $13.10 −5.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Nov 2026
Buy250%
Hold250%
Sell00%

Monthly trend

  1. Nov 2026224
  2. Oct 2026224
  3. Sep 2026224

Counts of recommendations published by analysts covering Renew Energy Global plc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.3%
of tradable shares
Days to cover
1.73
at average volume
Short interest, 1 month
−14%
to October 15, 2026
Held by institutions
80%
of shares
Held by insiders
14.2%
of shares
Employees
4,720
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Renew Energy Global plc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Renew Energy Global plc
$500M $1B $1.5B FY19 Q4 FY21 Q4 FY23 Q4 FY26 Q4 Revenue (TTM), FY19 Q4: $686.3M Revenue (TTM), FY20 Q4: $752.2M Revenue (TTM), FY21 Q4: $734.1M Revenue (TTM), FY22 Q4: $796.7M Revenue (TTM), FY23 Q4: $974.8M Revenue (TTM), FY24 Q4: $982.4M Revenue (TTM), FY25 Q4: $1.1B Revenue (TTM), FY26 Q4: $1.5B $1.5B

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY19 Q4 $686.3M
FY20 Q4 $752.2M
FY21 Q4 $734.1M
FY22 Q4 $796.7M
FY23 Q4 $974.8M
FY24 Q4 $982.4M
FY25 Q4 $1.1B
FY26 Q4 $1.5B
Revenue growth, TTM YoY Renew Energy Global plc
-10% 0% 10% 20% 30% 40% FY20 Q4 FY22 Q4 FY24 Q4 FY26 Q4 Revenue growth, TTM YoY, FY20 Q4: 9.6% Revenue growth, TTM YoY, FY21 Q4: -2.4% Revenue growth, TTM YoY, FY22 Q4: 8.5% Revenue growth, TTM YoY, FY23 Q4: 22.4% Revenue growth, TTM YoY, FY24 Q4: 0.8% Revenue growth, TTM YoY, FY25 Q4: 16.9% Revenue growth, TTM YoY, FY26 Q4: 30.4% 30.4%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY20 Q4 9.6%
FY21 Q4 -2.4%
FY22 Q4 8.5%
FY23 Q4 22.4%
FY24 Q4 0.8%
FY25 Q4 16.9%
FY26 Q4 30.4%
Operating margin (TTM) Renew Energy Global plc
-30% -20% -10% 0% 10% 20% FY19 Q4 FY21 Q4 FY23 Q4 FY26 Q4 Operating margin (TTM), FY19 Q4: 10.4% Operating margin (TTM), FY20 Q4: -1.1% Operating margin (TTM), FY21 Q4: -9.3% Operating margin (TTM), FY22 Q4: -20.6% Operating margin (TTM), FY23 Q4: -3.3% Operating margin (TTM), FY24 Q4: 10.2% Operating margin (TTM), FY25 Q4: 10.4% Operating margin (TTM), FY26 Q4: 10.6% 10.6%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Operating margin (TTM)
FY19 Q4 10.4%
FY20 Q4 -1.1%
FY21 Q4 -9.3%
FY22 Q4 -20.6%
FY23 Q4 -3.3%
FY24 Q4 10.2%
FY25 Q4 10.4%
FY26 Q4 10.6%
FCF margin (TTM) Renew Energy Global plc
30% 40% 50% 60% 70% FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 FCF margin (TTM), FY19 Q4: 42.8% FCF margin (TTM), FY20 Q4: 44.7% FCF margin (TTM), FY21 Q4: 36.8% FCF margin (TTM), FY22 Q4: 48.2% FCF margin (TTM), FY23 Q4: 63.5% FCF margin (TTM), FY24 Q4: 63.1% FCF margin (TTM), FY25 Q4: 48.3% 48.3%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY19 Q4 42.8%
FY20 Q4 44.7%
FY21 Q4 36.8%
FY22 Q4 48.2%
FY23 Q4 63.5%
FY24 Q4 63.1%
FY25 Q4 48.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Renew Energy Global took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.5B
  2. Other operating costs $1.3B · 89.4%
  3. Operating income $159M · 10.6%
  4. Income tax $36.6M · 2.4%
  5. Interest and other $10.4M · 0.7%
  6. Net income $111M · 7.4%

Shares of revenue. Source: Renew Energy Global's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Mar 2019 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026
Income
Revenue 686 752 734 797 975 982 1,149 1,497
EBITDA 207 151 94 21 166 313 364 —
Operating income 71 −8 −68 −164 −32 100 119 159
Net income 38 −38 −105 −216 −60 41 45 111
Diluted EPS $0.39 −$0.40 −$1.05 −$0.55 −$0.15 $0.12 $0.13 $0.31
Growth (year on year)
Revenue — +9.6% −2.4% +8.5% +22.4% +0.8% +16.9% +30.4%
EBITDA — −27.4% −37.9% −78.0% +708.8% +88.1% +16.3% —
Operating income — −111.3% — — — — +18.7% +33.2%
Net income — −200.4% — — — — +9.7% +147.0%
Diluted EPS — −201.7% — — — — +6.7% +141.2%
Margins
EBITDA margin 30.2% 20.0% 12.7% 2.6% 17.1% 31.8% 31.7% —
Operating margin 10.4% −1.1% −9.3% −20.6% −3.3% 10.2% 10.4% 10.6%
Net margin 5.5% −5.1% −14.3% −27.1% −6.2% 4.2% 3.9% 7.4%
Cash flow
Cash from operations 430 495 432 569 817 833 799 922
Stock-based pay 3 1 3 32 24 20 15 10
Balance sheet
Cash 146 174 283 374 465 324 473 243
Total debt 0 4,414 4,728 5,117 6,453 7,767 8,463 8,183
Net debt (negative = net cash) −146 4,240 4,445 4,743 5,989 7,443 7,990 7,939
Diluted shares 96m 115m 121m 127m — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 7 checks passed · March 31, 2026
What it owns · $11.3bn
Short-term assets $1.4bnLonger-term assets $9.8bn
What it owes, and who funded it · $11.1bn
Short-term liabilities $3.4bnLonger-term liabilities $6.3bnShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $1.4bn of assets due within a year against $3.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.4bn short-term assets against $6.3bn of longer-dated liabilities.
  • More cash than debt $243m of cash against $8.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 610% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 540% to 610% over five years.
  • A year's operating cash flow covers at least 20% of debt $922m of operating cash flow against $8.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $159m against $654m of interest.

From Renew Energy Global plc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Competitors: side by side with peers

Closest by revenue in renewable electricity
Last 12 months unless stated RNW CWEN ORA ENLT MNTK SPRU Median
Revenue, last 12 months $1.5bn $1.6bn $1.2bn $489m $189m $109m $149m
Revenue growth, last 12 months 30.4% 9.9% 31.1% 29.3% 4.3% 10.0% 10.5%
Revenue growth, 3-year average — 6.5% 16.0% — 2.1% 24.4% 7.8%
Revenue growth, latest quarter — 22.7% 10.6% — 19.7% −8.7% 15.1%
Gross margin — 64.4% 27.9% 72.5% 29.5% 48.3% 29.5%
Operating margin 10.6% 13.4% 16.6% 68.0% 0.6% 22.4% 12.0%
Operating margin, 3-year average — 13.1% 18.5% — 7.2% −21.5% 7.2%
Net margin 7.4% 6.4% 10.7% 27.0% 4.2% −6.8% −0.4%
Cash from operations / revenue 61.6% 64.6% 23.5% 57.8% 23.0% 1.9% 14.3%
Free-cash-flow margin 48.3% 42.6% −22.3% −313.1% −44.1% 1.8% −33.2%
Free-cash-flow margin, 3-year average — 39.7% −22.1% — −22.9% −26.4% −22.9%
Stock pay / revenue 0.7% — 1.8% 2.1% 1.0% 3.3% 1.8%
Change in share count −73.7% — 1.8% 7.5% 0.5% 6.5% 6.5%

Median of all 10 companies we cover in renewable electricity. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

10 renewable electricity companies
Measure Company Peer median Rank
Revenue growth Growth 30.4% 10.6% 3 of 10
Change in growth rate Growth +13.5pp +4.3pp 3 of 10
Operating margin Profitability 10.6% 13.4% 6 of 10
Net margin Profitability 7.4% 4.2% 3 of 10
Free-cash-flow margin Cash generation 48.3% -22.3% 1 of 10
Stock pay as % of revenue Cash generation 0.7% 1.8% 3 of 9
Long-term debt as % of assets Balance sheet 50.0% 25.6% 8 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$926M
Institutions reporting
145
Shares held vs prior quarter
▲ 0.9%
Positions opened / closed
50 / 22

Top buyers and sellers, Q2 2026: 101 institutions bought and 50 sold ; the biggest buyer was Blackrock, Inc (+1.2M shares) and the biggest seller State Street Corp (−2.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Canada Pension Plan Investment Board $478M 76.5M 51.6% 0.0%
Franklin Resources Inc $93.5M 15.0M 10.1% ▲ 2.4%
Rubric Capital Management LP $68.8M 11.0M 7.4% 0.0%
Blackrock, Inc. $60.6M 9.7M 6.5% ▲ 14.2%
Millennium Management LLC $38.9M 6.2M 4.2% ▲ 1.9%
Norges Bank $21.8M 3.5M 2.4% —
Invesco Ltd. $20.6M 3.3M 2.2% ▼ 7.5%
Msd Partners, L.P. $13.1M 2.1M 1.4% 0.0%
Swedbank AB $10.2M 1.6M 1.1% ▲ 104.2%
Man Group PLC $9M 1.4M 1.0% ▲ 56.5%
Acadian Asset Management LLC $6.7M 1.1M 0.7% ▲ 92.2%
First Trust Advisors LP $6.4M 1.0M 0.7% ▲ 21.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Renew Energy Global plc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Renew Energy Global plc was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Renew Energy Global plc in brief

What does Renew Energy Global plc do?
Renew Energy Global plc is a US-listed company in the renewable electricity industry. Its financial year ends in March.
What is Renew Energy Global plc's stock ticker?
Renew Energy Global plc trades under the ticker RNW on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Renew Energy Global plc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Renew Energy Global plc reported revenue of $1.5B, 30.4% higher than a year earlier, according to its SEC filings.
What is Renew Energy Global plc's free cash flow?
Renew Energy Global plc's free-cash-flow margin is 48.3% of revenue over the trailing twelve months, ranking 1 of the 10 renewable electricity companies we cover.
Who are Renew Energy Global plc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Canada Pension Plan Investment Board, Franklin Resources Inc and Rubric Capital Management LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
How much debt does Renew Energy Global plc have?
Renew Energy Global plc's debt-to-equity ratio is 610.0%, from its latest balance sheet (539.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Renew Energy Global plc's competitors?
In our Renewable Electricity peer group, the companies closest to Renew Energy Global plc are Clearway Energy, Inc., Ormat Technologies, Inc., Enlight Renewable Energy Ltd., Montauk Renewables, Inc. and Spruce Power Holding Corp. The side-by-side comparison below sets their revenue, margins and growth against Renew Energy Global plc's.