<div id="readability-page-1"><div><p>Investor enthusiasm for solar stocks is being tested once again. As the sector faces volatile sentiment, evolving policy signals, and a sharper focus on profitability, the key challenge lies in balancing growth potential with valuation discipline and margin resilience.</p><p> Following a phase of exuberance and correction, the solar industry is recalibrating. Investors are now seeking companies that can combine scale with sound profitability and compelling valuations. Using our Stock Screener, we identified solar stocks meeting the following criteria: a market capitalization above $500 million, a three-year compound annual growth rate (CAGR) above 10%, an EBITDA margin of at least 15% in the latest fiscal year, and an enterprise value-to-EBITDA multiple no higher than 15 times. We also emphasized a strong short-term outlook, based on our Trader Rating universe.</p><p> This screening surfaced three names that embody today’s trade-offs between growth, value, and operational quality: Xinyi Energy Holdings, ReNew Energy Global, and Array Technologies.</p><p><img height="239" src="https://imageproxy.pbkrs.com/https://img.zonebourse.com/stock/screen_xinyi_renew_array.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="800" original-src="https://imageproxy.pbkrs.com/https://img.zonebourse.com/stock/screen_xinyi_renew_array.png"/></p><h2> Efficiency and value: Xinyi Energy’s disciplined edge</h2><p> Sector: Utilities</p><p> Xinyi Energy Holdings stands out for its exceptional profitability and operational efficiency. Focused on managing solar farms in China, the company reported an EBITDA margin of 91.5%, far above the screened universe’s weighted average of 41.8%. Its EV/EBITDA ratio of 5.9x also sits comfortably below the peer average of 7.8x, underscoring its valuation appeal.</p><p> The stock has gained 47.7% over the past year and 38.0% over six months, though its three-year return remains negative at -40.4%. Revenue has grown at a 13.5% CAGR, meeting the screen’s growth threshold but lagging the group average.</p><p> Our MarketScreener Investor Rating is 4.5★, reflecting solid fundamentals, while the Trader Rating ranks at the top of our range, signaling favorable short-term sentiment. With EBITDA, EBIT, and net margins all in the upper decile, Xinyi combines high profitability, attractive valuation, and recent price momentum—an appealing mix for investors seeking stability in the solar utility segment.</p><p> Key Dates: No upcoming events disclosed.</p><p><img height="400" src="https://imageproxy.pbkrs.com/https://img.zonebourse.com/stock/xinyienergyholdings_20251104105924.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" original-src="https://imageproxy.pbkrs.com/https://img.zonebourse.com/stock/xinyienergyholdings_20251104105924.png"/></p><h2> Growth at a price: ReNew’s high-powered expansion</h2><p> Sector: Utilities</p><p> ReNew Energy Global, one of India’s renewable energy leaders, offers a contrasting profile—strong growth and margins, paired with higher leverage risk. The company posted an EBITDA margin of 81.6%, more than double the screen’s average, and trades at an EV/EBITDA multiple of 10.5x, still below peers. Its three-year revenue CAGR of 19.1% surpasses both Xinyi and the group average.</p><p> The stock is up 10.4% year-to-date and 19.5% over six months, though it fell 10.8% last year. Over three years, the total return is 27.2%. Profitability and growth metrics remain strong, but gearing and leverage ratios rank at the lower end of our universe, highlighting balance-sheet risk.</p><p> Our Investor Rating is neutral at 1.5★, yet the Trader Rating remains in the upper range, suggesting constructive short-term sentiment. ReNew’s ability to sustain strong margins and rapid expansion—despite capital intensity—makes it a choice for investors willing to embrace higher risk in pursuit of growth.</p><p> Key Dates: No upcoming events disclosed.</p><p><img height="400" src="https://imageproxy.pbkrs.com/https://img.zonebourse.com/stock/renewenergyglobal_20251104105949.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" original-src="https://imageproxy.pbkrs.com/https://img.zonebourse.com/stock/renewenergyglobal_20251104105949.png"/></p><h2> Recovery in motion: Array’s cyclical comeback</h2><p> Sector: Energy</p><p> Array Technologies, a key provider of solar tracker systems, represents a turnaround story built on improving execution and sentiment. The company posted a 19.0% EBITDA margin, modestly below the screen average but comfortably above the minimum threshold, with an EV/EBITDA multiple of 7.1x—attractive both relative to peers and its five-year history.</p><p> Momentum has returned. In Q2 2025, net income reached $28.5 million, beating consensus by 147.3%, while EPS of $0.19 exceeded expectations by 169.1%. Quarterly net sales hit $362.2 million, 25.4% above forecasts, and EBITDA of $63.6 million surpassed estimates by 19.1%. This marks a sharp turnaround from the prior year’s $296.1 million net loss and -$1.95 EPS.</p><p> The stock has rebounded 39.2% year-to-date and 25.5% over the past year, after plunging 64.1% in 2024. Analyst sentiment is now “OUTPERFORM”, with an average target price of $10.22, implying a 21.5% upside. Our Investor Rating is neutral at 2.0★, and the Trader Rating sits in the upper range, reflecting improving visibility and renewed momentum.</p><p> Key Dates: November 5, 2025 – Q3 2025 Earnings Release.</p><p><img height="400" src="https://imageproxy.pbkrs.com/https://img.zonebourse.com/stock/arraytechnologies_20251104110008.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" original-src="https://imageproxy.pbkrs.com/https://img.zonebourse.com/stock/arraytechnologies_20251104110008.png"/></p><h2> A sector finding its balance</h2><p>Xinyi Energy Holdings leads with profitability and valuation discipline, ReNew Energy Global delivers faster growth with higher risk, and Array Technologies is regaining its footing through operational improvement. Each story illustrates a different way to navigate the solar sector’s evolving balance between growth, value, and risk. By applying rigorous filters for scale, profitability, and valuation, investors can pinpoint opportunities that stand to benefit as the industry enters its next phase of maturity.</p></div></div>

信義能源

<p>投資者對太陽能股票的熱情正在受到考驗，因為該行業面臨波動性和對盈利能力的關注。關鍵公司包括信義能源控股，以其高 EBITDA 利潤率和估值吸引力而聞名；ReNew Energy Global，提供強勁增長但面臨更高的槓桿風險；以及 Array Technologies，表現出業績的好轉。每家公司在平衡太陽能市場中的增長、價值和風險方面代表了不同的策略。投資者被鼓勵考慮這些因素，因為該行業正在成熟</p>

太陽能股票：在不斷變化的市場中平衡增長與價值