Is Sunnova Energy International Inc. (NOVAQ) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2024
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | 67317051.2% / 30% | 1680394.7% / 30% | 4501034.4% / 30% | 17.85% / 5% | ✗ NOT HALAL |
| DJIM | 67317051.2% / 33% | 1680394.7% / 33% | 4501034.4% / 33% | 17.85% / 5% | ✗ NOT HALAL |
| MSCI | 63.4% / 33% | 1.6% / 33% | 4.2% / 33% | 17.85% / 5% | ✗ NOT HALAL |
| S&P | 67317051.2% / 33% | 1680394.7% / 33% | 4501034.4% / 33% | 17.85% / 5% | ✗ NOT HALAL |
| FTSE | 63.4% / 33% | 1.6% / 33% | 4.2% / 50% | 17.85% / 5% | ✗ NOT HALAL |
Financial Highlights
Profitability
| Gross Margin | 33.3% | |
| Operating Margin | -45.7% | |
| Net Margin | -43.8% | |
| Return on Equity (ROE) | -18.6% | |
| Return on Assets (ROA) | -1.3% |
Cash Flow & Balance Sheet
| Operating Cash Flow | -$311M |
| Free Cash Flow | -$2.0B |
| Total Debt | $8.5B |
| Debt-to-Equity | 316.0 |
| Current Ratio | 0.8 |
| Total Assets | $13.4B |
Price & Trading
| Last Close | $0.00 |
| 50-Day MA | $0.00 |
| 200-Day MA | $0.03 |
| Avg Volume | 40K |
| Beta | 2.7 |
|
52-Week Range
$0.00
| |
About Sunnova Energy International Inc. (NOVAQ)
Sunnova Energy International Inc. provides solar energy services in the United States. The company offers electricity; non-solar financing and loan programs; and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and solar energy system and energy storage system diagnostics services. As of December 31, 2024, it operated a fleet of residential solar energy systems with a generation capacity of approximately 2,892 megawatts serving over 441,000 customers. Sunnova Energy International Inc. was founded in 2012 and is headquartered in Houston, Texas. On June 8, 2025, Sunnova Energy International Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas.
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Frequently Asked Questions
Is Sunnova Energy International Inc. (NOVAQ) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), Sunnova Energy International Inc. is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is Sunnova Energy International Inc.'s debt ratio?
Sunnova Energy International Inc.'s debt ratio is 67317051.2% under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%. Under MSCI and FTSE (which use total assets as the denominator), the debt ratio is 63.4%.
What are Sunnova Energy International Inc.'s key financial metrics?
Sunnova Energy International Inc. has a market capitalization of $12,568, and revenue of $840M. The company maintains a gross margin of 33.3% and a net margin of -43.8%. Return on equity stands at -18.6%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.