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Spruce Power Holding Corp (SPRU) stock

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NYSE: SPRU NYSE Renewable Electricity Next results ~November 10, 2026

D Fundamentals grade

Spruce Power Holding Corp is a US-listed company in the renewable electricity industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$6.3

Book value (net assets)

Base case. Range ~$6.3–$6.3. Net assets per share: the value if returns just equal the cost of equity.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Spruce Power Holding Corp 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.

  • Insiders6 buying, 2 selling55 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds16 adding, 19 cuttingOf 9 active managers that changed their stake, 3 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Spruce Power Holding files

Where Spruce Power stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $109m, up 10.0% on a year earlier, slower than the 26.7% growth a quarter earlier. Free-cash-flow margin rose to 1.8% from -26.7% a year earlier. Operating margin widened to 22.4% from -36.9%. The diluted share count is up 6.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 0 of our 7 financial-health checks. Our book value value is $5.49 a share, against a share price of $1.35.

Source: 10-Q filed August 13, 2026 on SEC EDGAR · Financials · Valuation

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

Next results ~November 10, 2026 (estimated)

Spruce Power Holding Corp's trailing-twelve-month revenue grew 10.0% year on year, with a free-cash-flow margin of 1.8%. Where it lags: change in growth rate of -16.8pp ranks 9 of 10 renewable electricity companies we cover.

Current signal Operating margin expanding: TTM operating margin reached 22.4%, up 59.3pp year over year.

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

  • Margins widening. Operating margin is up 59.3 points on a year ago.

Things to watch

  • Results due soon. Results are expected around 11 November; the share price can move sharply on the day.
  • Growth slowing. The growth rate is 16.8 points lower than a quarter earlier.
  • Share dilution. Diluted shares rose 6.5% in a year.
  • High debt. Long-term debt exceeds cash by $0.3bn, more than 1.5 times annual revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 96% and a beta of 0.4 against the S&P 500.
  • Gross margin slipping. Gross margin is down 3.6 points on a year ago.

Latest results: FY2026 Q2

Filed August 13, 2026
Earnings per share
-$0.24 against an average estimate of -$0.10: missed by 142.7%
Revenue
$30m, down 8.7% on a year earlier
Share reaction
-12.4% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500
Next report
November 10, 2026

Spruce Power Holding's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.5%
  • 1 week0.0%
  • 1 month-16.5%
  • This year-74.1%
  • 1 year-52.9%
  • 5 years-97.1%
  • S&P 500 this year+11.2%

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)
$109M
Operating margin
22.4%
Net margin
-6.8%
EPS (TTM, diluted)
$-0.38

Growth

Revenue growth
+10.0%
Change in growth rate
−16.8 pts
Share count change
+6.5%

Cash

Free cash flow (TTM)
$2M
FCF margin
1.8%
Stock pay % of revenue
3.3%

Earnings

Last results
August 12, 2026
Next results (est.)
November 11, 2026

News & updates

Updated October 31, 2026

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

  1. Announcement
  2. Leadership
  3. Shareholder vote
  4. Results
  5. Shareholder vote
  6. Leadership

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

Spruce Power Holding Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Our value per share comes from a discounted-cash-flow model of Spruce Power Holding Corp's free cash flow after stock-based pay ( $12.1M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Spruce Power Holding Corp as an utility or power producer, with every model that fits that kind of business. Cost of equity 7.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.54 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. — Does not apply: net income is not positive
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
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. — Does not apply: the model gives no positive value
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
Book value (net assets) Net assets per share: the value if returns just equal the cost of equity. ~$6.3 Primary model, counts double
Combined value Weighted average of the models that apply: the primary model (book value (net assets)) 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. ~$6.3 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Spruce Power Holding Corp 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.

Valuation multiples over time Market data may be delayed

At fiscal year end 2019202020212022202320242025Now
Share price$79.52$189.84$26.48$7.35$4.42$2.97$5.09$1.32
Market value$793m$2.0bn$492m$131m$81m$55m$92m$25m
+ Net debt (− = net cash)−$2m−$329m−$349m$313m$505m$658m$641m$635m
Enterprise value$792m$1.7bn$143m$444m$587m$713m$733m$660m
Multiples
Price / sales 110.0x98.7x—5.7x1.0x0.7x0.8x0.2x
Price / earnings ——17.1x—————
Price / free cash flow ———————12.7x
EV / EBITDA ——————15.2x12.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

14 /100

Weak moat

How hard Spruce Power Holding's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -8.0% of total assets over 7 years.

  • Durability 10 / 20

    Operating margin has been a median -65.5%; its worst year was -877.1%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 1 of 6 years, at a median -72.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (19 before it).

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

Forecasts and guidance

Next results: November 10, 2026.

Analysts' consensus

No analyst estimates are published for Spruce Power Holding Corp: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2024 −$0.10 −$0.24 −142.7%
Jun 2024 −$0.07 −$0.15 −109.4%

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

Positioning

Short interest
5.9%
of tradable shares
Days to cover
4.56
at average volume
Short interest, 1 month
+0%
to October 15, 2026
Held by institutions
34%
of shares
Held by insiders
12.4%
of shares
Employees
159
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.

What moved the share price

Last 12 months −52.9%

$2.80 on October 31, 2025 to $1.32

ThenNowEffect
Revenue (last 12 months) $99m $109m +10.0%
P/S multiple 0.5x 0.2x −54.3%
Share count 18m 19m −6.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −68.3%

$4.16 on November 3, 2023 to $1.32

ThenNowEffect
Revenue (last 12 months) $56m $109m +92.7%
P/S multiple 1.4x 0.2x −83.0%
Share count 19m 19m −2.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SPRU−86%−72%−40%−33%+71%−74%
Industry peers (median)+4%−14%−19%−10%−44%−10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SPRU17%25%42%42%50%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SPRU−87%−79%−72%−52%−63%−80%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 3, 2019: 100% from December 23, 2020 to August 4, 2025. Getting back needed a 22376% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.30 – $6.46
From 52-week high
−79.6%
vs 50-day average
−19.6%
vs 200-day average
−55.8%
Volatility (1 year)
96%
Beta vs S&P 500
0.43

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.

Share price after results

Next day
4 up, 8 down
typical move ±12.1%
After a week
3 up, 9 down
typical move ±13.0%
After a month
5 up, 7 down
typical move ±19.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 12, 2026 −12.4% +0.9% −12.0% −21.5%
May 14, 2026 −13.9% −0.4% −10.3% −13.6%
March 30, 2026 +3.0% +2.6% −3.3% −15.6%
November 12, 2025 +68.9% −1.6% +43.0% +74.8%
August 11, 2025 −11.0% +0.9% −9.0% +3.9%
May 14, 2025 +12.0% +0.6% +24.1% +16.5%
November 13, 2024 −2.1% −0.6% −0.9% +16.2%
August 14, 2024 −5.0% +2.0% −6.8% −17.3%
May 15, 2024 −2.8% +1.0% −9.7% −16.3%
March 14, 2024 +0.8% −0.9% +3.4% −19.3%
November 13, 2023 −8.7% +1.8% −18.4% +1.4%
August 10, 2023 −5.1% 0.0% −15.4% −16.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Spruce Power Holding Corp in five measures

Fundamentals grade D
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) Spruce Power Holding Corp
$60M $80M $100M $120M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $71.2M Revenue (TTM), FY23 Q4: $79.9M Revenue (TTM), FY24 Q1: $80.1M Revenue (TTM), FY24 Q2: $79.7M Revenue (TTM), FY24 Q3: $77.8M Revenue (TTM), FY24 Q4: $82.4M Revenue (TTM), FY25 Q1: $87.9M Revenue (TTM), FY25 Q2: $98.7M Revenue (TTM), FY25 Q3: $108M Revenue (TTM), FY25 Q4: $111.8M Revenue (TTM), FY26 Q1: $111.4M Revenue (TTM), FY26 Q2: $108.5M $108.5M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $71.2M
FY23 Q4 $79.9M
FY24 Q1 $80.1M
FY24 Q2 $79.7M
FY24 Q3 $77.8M
FY24 Q4 $82.4M
FY25 Q1 $87.9M
FY25 Q2 $98.7M
FY25 Q3 $108M
FY25 Q4 $111.8M
FY26 Q1 $111.4M
FY26 Q2 $108.5M
Revenue growth, TTM YoY Spruce Power Holding Corp
0% 200% 400% 600% 800% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 731.6% Revenue growth, TTM YoY, FY23 Q4: 244.3% Revenue growth, TTM YoY, FY24 Q1: 119.2% Revenue growth, TTM YoY, FY24 Q2: 41.5% Revenue growth, TTM YoY, FY24 Q3: 9.3% Revenue growth, TTM YoY, FY24 Q4: 3.1% Revenue growth, TTM YoY, FY25 Q1: 9.8% Revenue growth, TTM YoY, FY25 Q2: 23.8% Revenue growth, TTM YoY, FY25 Q3: 38.8% Revenue growth, TTM YoY, FY25 Q4: 35.8% Revenue growth, TTM YoY, FY26 Q1: 26.7% Revenue growth, TTM YoY, FY26 Q2: 10.0% 10.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 731.6%
FY23 Q4 244.3%
FY24 Q1 119.2%
FY24 Q2 41.5%
FY24 Q3 9.3%
FY24 Q4 3.1%
FY25 Q1 9.8%
FY25 Q2 23.8%
FY25 Q3 38.8%
FY25 Q4 35.8%
FY26 Q1 26.7%
FY26 Q2 10.0%
Operating margin (TTM) Spruce Power Holding Corp
-100% -50% 0% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -64.5% Operating margin (TTM), FY23 Q4: -46.1% Operating margin (TTM), FY24 Q1: -47.0% Operating margin (TTM), FY24 Q2: -50.2% Operating margin (TTM), FY24 Q3: -67.6% Operating margin (TTM), FY24 Q4: -61.4% Operating margin (TTM), FY25 Q1: -55.3% Operating margin (TTM), FY25 Q2: -36.9% Operating margin (TTM), FY25 Q3: 8.5% Operating margin (TTM), FY25 Q4: 16.0% Operating margin (TTM), FY26 Q1: 21.1% Operating margin (TTM), FY26 Q2: 22.4% 22.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -64.5%
FY23 Q4 -46.1%
FY24 Q1 -47.0%
FY24 Q2 -50.2%
FY24 Q3 -67.6%
FY24 Q4 -61.4%
FY25 Q1 -55.3%
FY25 Q2 -36.9%
FY25 Q3 8.5%
FY25 Q4 16.0%
FY26 Q1 21.1%
FY26 Q2 22.4%
FCF margin (TTM) Spruce Power Holding Corp
-80% -60% -40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -46.8% FCF margin (TTM), FY23 Q4: -42.8% FCF margin (TTM), FY24 Q1: -60.2% FCF margin (TTM), FY24 Q2: -54.2% FCF margin (TTM), FY24 Q3: -59.7% FCF margin (TTM), FY24 Q4: -51.2% FCF margin (TTM), FY25 Q1: -33.1% FCF margin (TTM), FY25 Q2: -26.7% FCF margin (TTM), FY25 Q3: -13.0% FCF margin (TTM), FY25 Q4: -3.4% FCF margin (TTM), FY26 Q1: 2.5% FCF margin (TTM), FY26 Q2: 1.8% 1.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -46.8%
FY23 Q4 -42.8%
FY24 Q1 -60.2%
FY24 Q2 -54.2%
FY24 Q3 -59.7%
FY24 Q4 -51.2%
FY25 Q1 -33.1%
FY25 Q2 -26.7%
FY25 Q3 -13.0%
FY25 Q4 -3.4%
FY26 Q1 2.5%
FY26 Q2 1.8%

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

Financial statements

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

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 7 20 0 23 80 82 112 109
Gross profit −1 3 −1 13 42 — — —
EBITDA −13 −15 −35 −53 −15 −26 48 55
Operating income −14 −15 −35 −59 −37 −50 18 24
Net income −15 −61 29 −94 −66 −70 −26 −7
Diluted EPS −$1.52 −$0.72 $0.19 −$5.27 −$3.58 −$3.82 −$1.44 −$0.38
Growth (year on year)
Revenue — +181.9% −100.0% — +244.3% +2.8% +36.2% +10.0%
Net income — — — −426.3% — — — —
Diluted EPS — — — <−999% — — — —
Margins
Gross margin −11.9% 13.5% — 57.1% 52.7% — — —
EBITDA margin −183.6% −72.1% — −227.8% −19.1% −31.7% 43.0% 50.4%
Operating margin −188.1% −75.2% — −255.6% −46.1% −61.4% 16.0% 22.4%
Net margin −206.5% −298.0% — −405.0% −82.4% −85.9% −23.3% −6.8%
Free-cash-flow margin −160.5% −98.5% — −273.7% −42.8% −51.4% −3.4% 1.8%
Cash flow
Cash from operations −12 −20 −48 −63 −34 −42 −4 2
Capital spending 0 0 4 0 0 0 0 0
Free cash flow −12 −20 −52 −63 −34 −42 −4 2
Stock-based pay 0 1 8 10 3 3 3 4
Free cash flow after stock pay −12 −21 −60 −73 −37 −45 −7 −2
Balance sheet
Cash 4 330 352 220 141 73 55 45
Total debt 2 0 3 533 647 731 696 680
Net debt (negative = net cash) −2 −329 −349 313 505 658 641 635
Diluted shares 10m 11m 19m 18m 18m 18m 18m 19m
Returned to shareholders
Buybacks — — — 0 5 1 2 0
Total returned — — — 0 5 1 2 0

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 · June 30, 2026
What it owns · $818m
Short-term assets $114mLonger-term assets $704m
What it owes, and who funded it · $816m
Short-term liabilities $289mLonger-term liabilities $406mShareholders' equity $120m
  • Short-term assets cover short-term liabilities $114m of assets due within a year against $289m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $114m short-term assets against $406m of longer-dated liabilities.
  • More cash than debt $45m of cash against $663m of debt.
  • Debt below 40% of shareholders' equity Debt is 550% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 550% over five years.
  • A year's operating cash flow covers at least 20% of debt $2m of operating cash flow against $663m of debt.
  • Operating profit covers interest at least five times over Operating income of $24m against $51m of interest.

From Spruce Power Holding Corp'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.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$8.1M
Diluted share count
+6.5%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
Sales & admin spending
44.9%
of revenue
Days sales outstanding
87 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in renewable electricity
Last 12 months unless stated SPRU MNTK SUNE ELLO ENLT HTOO Median
Revenue, last 12 months $109m $189m $62m $48m $489m $16m $149m
Revenue growth, last 12 months 10.0% 4.3% 10.3% 10.6% 29.3% 838.5% 10.5%
Revenue growth, 3-year average 24.4% 2.1% −1.8% — — — 7.8%
Revenue growth, latest quarter −8.7% 19.7% −37.5% — — — 15.1%
Gross margin 48.3% 29.5% 35.7% 16.2% 72.5% 29.0% 29.5%
Operating margin 22.4% 0.6% −7.9% 43.1% 68.0% −60.9% 12.0%
Operating margin, 3-year average −21.5% 7.2% −14.3% 25.2% — — 7.2%
Net margin −6.8% 4.2% −8.5% −5.0% 27.0% −39.7% −0.4%
Cash from operations / revenue 1.9% 23.0% −2.9% 5.7% 57.8% −57.1% 14.3%
Free-cash-flow margin 1.8% −44.1% −2.9% −222.7% −313.1% −57.1% −33.2%
Free-cash-flow margin, 3-year average −26.4% −22.9% −6.2% −134.5% — — −22.9%
Stock pay / revenue 3.3% 1.0% 0.1% 0.0% 2.1% 10.8% 1.8%
Change in share count 6.5% 0.5% 54.8% 3.0% 7.5% 153.0% 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 10.0% 10.6% 7 of 10
Change in growth rate Growth -16.8pp +4.3pp 9 of 10
Operating margin Profitability 22.4% 13.4% 3 of 10
Net margin Profitability -6.8% 4.2% 7 of 10
Free-cash-flow margin Cash generation 1.8% -22.3% 3 of 10
Stock pay as % of revenue Cash generation 3.3% 1.8% 7 of 9
Long-term debt as % of assets Balance sheet 48.0% 25.6% 7 of 9
Change in share count Balance sheet 6.5% 6.5% 4 of 6
Days sales outstanding Balance sheet 87 days 64 days 5 of 6

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

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
SLA Revenue $39.9M 35.7% ▲ 37.7%
PPA Revenue $38M 34.0% ▼ 1.1%
Solar Renewable Energy Credit Revenue $21.4M 19.1% ▲ 196.4%
Services $3.8M 3.4% ▲ 388.8%
Other $3.6M 3.2% ▲ 12.2%
Amortization of Intangible Assets $3M 2.7% ▼ 3.4%
Government Incentives $2.1M 1.9% ▲ 404.7%

From Spruce Power Holding Corp's 10-K filed March 31, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$16.7M
Institutions reporting
45
Shares held vs prior quarter
▼ 0.6%
Positions opened / closed
5 / 6

Top buyers and sellers, Q2 2026: 16 institutions bought and 19 sold ; the biggest buyer was Steel Partners Holdings L.P (+69K shares) and the biggest seller Jane Street Group, LLC (−142K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Steel Partners Holdings L.P. $8.8M 3.4M 53.0% ▲ 2.1%
Jpmorgan Chase & Co $2M 773K 12.2% 0.0%
Vanguard Capital Management LLC $1.7M 648K 10.0% ▲ 2.2%
Blackrock, Inc. $674,324 261K 4.0% ▲ 5.5%
Renaissance Technologies LLC $628,315 244K 3.8% ▲ 3.1%
Geode Capital Management, LLC $500,422 194K 3.0% ▼ 3.6%
Two Sigma Investments, LP $341,930 133K 2.0% ▼ 18.1%
Vanguard Fiduciary Trust Co $264,633 103K 1.6% ▲ 0.7%
State Street Corp $235,397 91K 1.4% 0.0%
Gsa Capital Partners LLP $204,000 79K 1.2% ▲ 81.2%
Dimensional Fund Advisors LP $138,306 54K 0.8% ▼ 16.7%
Myda Advisors LLC $129,000 50K 0.8% New

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 Spruce Power Holding Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $8.6M 55 trades by 6 insiders, last 12 months Insider sales History → $245,000 2 trades by 2 insiders · 0% under pre-set plans
Net ▲ $8.3M net buying
Insider Date Trade Shares Price Value
Steel Partners Holdings Gp Inc. 10% owner September 21, 2026 Buy 52,780 $2.04 $107,671
Norling Jonathan Mcwhinnie Chief Legal Officer June 15, 2026 Sell 15,000 $2.84 $42,600
Steel Connect Llc 10% owner April 20, 2026 Buy 24,335 $4.13 $100,504
Steel Partners Holdings Gp Inc. 10% owner April 17, 2026 Buy 3,640 $4.03 $14,669
Steel Partners Holdings Gp Inc. 10% owner April 16, 2026 Buy 141 $4.10 $578
Steel Partners Holdings Gp Inc. 10% owner April 15, 2026 Buy 10,463 $4.09 $42,794
Steel Connect Llc 10% owner April 14, 2026 Buy 5,027 $4.05 $20,359
Steel Connect Llc 10% owner April 13, 2026 Buy 2,975 $4.00 $11,900
Steel Connect Llc 10% owner April 10, 2026 Buy 1,700 $4.00 $6,800
Steel Partners Holdings L.P. 10% owner April 9, 2026 Buy 14,532 $3.98 $57,837
Steel Partners Holdings L.P. 10% owner April 7, 2026 Buy 5,000 $4.00 $20,000
Steel Partners Holdings Gp Inc. 10% owner April 2, 2026 Buy 1,409 $4.05 $5,706

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

Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced

  • August 12, 2026
  • May 14, 2026
  • March 30, 2026
  • November 12, 2025
  • August 11, 2025
  • May 14, 2025

Recent SEC filings

Data status

When each part of this page on Spruce Power Holding Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
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.

Spruce Power Holding Corp in brief

What does Spruce Power Holding Corp do?
Spruce Power Holding Corp is a US-listed company in the renewable electricity industry. Its financial year ends in December.
What is Spruce Power Holding Corp's stock ticker?
Spruce Power Holding Corp trades under the ticker SPRU on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Spruce Power Holding Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Spruce Power Holding Corp reported revenue of $109M, 10.0% higher than a year earlier, according to its SEC filings.
What is Spruce Power Holding Corp's free cash flow?
Spruce Power Holding Corp's free-cash-flow margin is 1.8% of revenue over the trailing twelve months, ranking 3 of the 10 renewable electricity companies we cover.
Who are Spruce Power Holding Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Steel Partners Holdings L.P., Jpmorgan Chase & Co and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Spruce Power Holding Corp buying back stock, and does it pay a dividend?
Spruce Power Holding Corp spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 6.5% over the year.
What is Spruce Power Holding Corp's market cap?
On November 2, 2026, Spruce Power Holding Corp's market capitalisation was about $25.2M and net debt of $635M. Market figures come from third-party market data and may be delayed.
How much debt does Spruce Power Holding Corp have?
Spruce Power Holding Corp's debt-to-equity ratio is 550.3%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Spruce Power Holding Corp's competitors?
In our Renewable Electricity peer group, the companies closest to Spruce Power Holding Corp are Montauk Renewables, Inc., Sunation Energy, Inc., Ellomay Capital Ltd., Enlight Renewable Energy Ltd. and Fusion Fuel Green PLC. The side-by-side comparison below sets their revenue, margins and growth against Spruce Power Holding Corp's.
Are insiders buying or selling Spruce Power Holding Corp stock?
Over the last 12 months, Spruce Power Holding Corp's directors and officers reported 55 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Spruce Power Holding Corp's next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Spruce Power Holding Corp announces its own schedule.