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AZURE POWER GLOBAL LTD (AZRE) Stock Fundamental Analysis

USA - NYSE:AZRE - MU0527S00004 - Common Stock

1.69 USD
-0.05 (-2.87%)
Last: 7/12/2023, 8:04:00 PM
1.74 USD
+0.05 (+2.96%)
After Hours: 7/12/2023, 8:04:00 PM
Fundamental Rating

3

Taking everything into account, AZRE scores 3 out of 10 in our fundamental rating. AZRE was compared to 20 industry peers in the Independent Power and Renewable Electricity Producers industry. AZRE has a medium profitability rating, but doesn't score so well on its financial health evaluation. AZRE shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year AZRE has reported negative net income.
AZRE had a positive operating cash flow in the past year.
AZRE Yearly Net Income VS EBIT VS OCF VS FCFAZRE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 0 -10B -20B

1.2 Ratios

The profitability ratios for AZRE are negative, so there is not much use analyzing them.
AZRE's Return On Invested Capital of 6.25% is amongst the best of the industry. AZRE outperforms 85.71% of its industry peers.
AZRE had an Average Return On Invested Capital over the past 3 years of 4.48%. This is in line with the industry average of 4.08%.
The last Return On Invested Capital (6.25%) for AZRE is above the 3 year average (4.48%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA N/A
ROE N/A
ROIC 6.25%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)4.48%
ROIC(5y)4.18%
AZRE Yearly ROA, ROE, ROICAZRE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 0 -200 -400 -600

1.3 Margins

AZRE has a better Operating Margin (65.97%) than 100.00% of its industry peers.
AZRE's Operating Margin has improved in the last couple of years.
AZRE's Gross Margin of 91.63% is amongst the best of the industry. AZRE outperforms 95.24% of its industry peers.
In the last couple of years the Gross Margin of AZRE has remained more or less at the same level.
Industry RankSector Rank
OM 65.97%
PM (TTM) N/A
GM 91.63%
OM growth 3Y-0.03%
OM growth 5Y4.53%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.26%
GM growth 5Y-0.22%
AZRE Yearly Profit, Operating, Gross MarginsAZRE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 0 50 -50 -100 -150

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0

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AZRE is destroying value.
AZRE has more shares outstanding than it did 1 year ago.
Compared to 1 year ago, AZRE has a worse debt to assets ratio.
AZRE Yearly Shares OutstandingAZRE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 10M 20M 30M 40M
AZRE Yearly Total Debt VS Total AssetsAZRE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 50B 100B

2.2 Solvency

AZRE has an Altman-Z score of 0.14. This is a bad value and indicates that AZRE is not financially healthy and even has some risk of bankruptcy.
AZRE's Altman-Z score of 0.14 is on the low side compared to the rest of the industry. AZRE is outperformed by 71.43% of its industry peers.
A Debt/Equity ratio of 3.91 is on the high side and indicates that AZRE has dependencies on debt financing.
AZRE's Debt to Equity ratio of 3.91 is on the low side compared to the rest of the industry. AZRE is outperformed by 71.43% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.91
Debt/FCF N/A
Altman-Z 0.14
ROIC/WACC0.77
WACC8.08%
AZRE Yearly LT Debt VS Equity VS FCFAZRE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 0 20B -20B 40B 60B 80B

2.3 Liquidity

AZRE has a Current Ratio of 0.61. This is a bad value and indicates that AZRE is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of AZRE (0.61) is worse than 95.24% of its industry peers.
A Quick Ratio of 0.61 indicates that AZRE may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.61, AZRE is doing worse than 90.48% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.61
AZRE Yearly Current Assets VS Current LiabilitesAZRE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 5B 10B 15B 20B 25B

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8

3. Growth

3.1 Past

AZRE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 126.67%, which is quite impressive.
AZRE shows a strong growth in Revenue. In the last year, the Revenue has grown by 20.06%.
The Revenue has been growing by 42.14% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)126.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%58.06%
Revenue 1Y (TTM)20.06%
Revenue growth 3Y25.54%
Revenue growth 5Y42.14%
Sales Q2Q%27.24%

3.2 Future

The Earnings Per Share is expected to grow by 470.20% on average over the next years. This is a very strong growth
AZRE is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 382.17% yearly.
EPS Next Y132.45%
EPS Next 2Y45.15%
EPS Next 3Y470.2%
EPS Next 5YN/A
Revenue Next Year18.19%
Revenue Next 2Y14.19%
Revenue Next 3Y382.17%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
AZRE Yearly Revenue VS EstimatesAZRE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B
AZRE Yearly EPS VS EstimatesAZRE Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

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2

4. Valuation

4.1 Price/Earnings Ratio

A Price/Forward Earnings ratio of 5888.84 indicates a quite expensive valuation of AZRE.
66.67% of the companies in the same industry are cheaper than AZRE, based on the Price/Forward Earnings ratio.
AZRE is valuated expensively when we compare the Price/Forward Earnings ratio to 22.57, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 5888.84
AZRE Price Earnings VS Forward Price EarningsAZRE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, AZRE is valued cheaper than 95.24% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 6.45
AZRE Per share dataAZRE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 -2 4 -4

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
AZRE's earnings are expected to grow with 470.20% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y45.15%
EPS Next 3Y470.2%

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0

5. Dividend

5.1 Amount

No dividends for AZRE!.
Industry RankSector Rank
Dividend Yield N/A

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AZURE POWER GLOBAL LTD

NYSE:AZRE (7/12/2023, 8:04:00 PM)

After market: 1.74 +0.05 (+2.96%)

1.69

-0.05 (-2.87%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)07-05 2023-07-05/amc
Earnings (Next)07-27 2023-07-27
Inst Owners0.63%
Inst Owner Change0%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap81.68M
Analysts40
Price Target4.08 (141.42%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-335.8%
Min EPS beat(2)-706.91%
Max EPS beat(2)35.31%
EPS beat(4)3
Avg EPS beat(4)77.34%
Min EPS beat(4)-706.91%
Max EPS beat(4)918.59%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)7673%
Min Revenue beat(2)7280.07%
Max Revenue beat(2)8065.92%
Revenue beat(4)4
Avg Revenue beat(4)7458.47%
Min Revenue beat(4)6892.24%
Max Revenue beat(4)8065.92%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.72%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.15%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 5888.84
P/S 0.38
P/FCF N/A
P/OCF 1.22
P/B 0.28
P/tB 0.28
EV/EBITDA 6.45
EPS(TTM)0
EYN/A
EPS(NY)0
Fwd EY0.02%
FCF(TTM)-5.95
FCFYN/A
OCF(TTM)1.39
OCFY82.12%
SpS4.44
BVpS5.95
TBVpS5.95
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA N/A
ROE N/A
ROCE N/A
ROIC 6.25%
ROICexc 6.64%
ROICexgc 6.64%
OM 65.97%
PM (TTM) N/A
GM 91.63%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)4.48%
ROIC(5y)4.18%
ROICexc(3y)5.1%
ROICexc(5y)4.83%
ROICexgc(3y)5.11%
ROICexgc(5y)4.84%
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y2.08%
ROICexcg growth 5Y6.33%
ROICexc growth 3Y2.15%
ROICexc growth 5Y6.43%
OM growth 3Y-0.03%
OM growth 5Y4.53%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.26%
GM growth 5Y-0.22%
F-Score4
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 3.91
Debt/FCF N/A
Debt/EBITDA 7.93
Cap/Depr 832.42%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.61
Quick Ratio 0.61
Altman-Z 0.14
F-Score4
WACC8.08%
ROIC/WACC0.77
Cap/Depr(3y)816.38%
Cap/Depr(5y)993.33%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)126.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%58.06%
EPS Next Y132.45%
EPS Next 2Y45.15%
EPS Next 3Y470.2%
EPS Next 5YN/A
Revenue 1Y (TTM)20.06%
Revenue growth 3Y25.54%
Revenue growth 5Y42.14%
Sales Q2Q%27.24%
Revenue Next Year18.19%
Revenue Next 2Y14.19%
Revenue Next 3Y382.17%
Revenue Next 5YN/A
EBIT growth 1Y74.08%
EBIT growth 3Y25.49%
EBIT growth 5Y48.58%
EBIT Next Year98.07%
EBIT Next 3Y471.45%
EBIT Next 5YN/A
FCF growth 1Y4.86%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y35.32%
OCF growth 3Y38.91%
OCF growth 5Y46.64%