HA Sustainable Infrastructure Capital, Inc. HASI R2K

Financial Services · Asset Management · United States

https://www.hasi.com

HA Sustainable Infrastructure Capital, Inc., through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and other sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, receivables, and debt securities. It invests in climate solutions, including Behind-the-Meter that distributes energy projects which reduce energy cost or usage that distributes energy projects which reduce energy; Grid-Connected, a renewable energy projects that deploy cleaner energy sources, such as solar, solar-plus-storage, and wind, to generate cleaner, lower cost energy; and Fuels, Transport, and Nature, a range of infrastructure assets that are designed to reduce emissions and/or provide environmental benefits in projects beyond the power grid, such as transportation and fuels, including renewable natural gas (RNG) plants, transportation fleet enhancements, and ecological restoration, and other projects. The company was formerly known as Hannon Armstrong Sustainable Infrastructure Capital, Inc. and changed its name to HA Sustainable Infrastructure Capital, Inc. in June 2024. HA Sustainable Infrastructure Capital, Inc. was founded in 1981 and is headquartered in Annapolis, Maryland.

Market & Price

Market Cap

$5.24B

Current Price

$41.00

High / Low (52W)

$43.31 / $23.46

Beta

1.46

Valuation

Stock P/E

102.50

Industry PE

12.01

Forward P/E

12.29

PEG Ratio

1.43

Book Value

$20.25

Price to Book

2.03

P/S

59.60

EV/EBITDA

Dividend Yield

4.12%

Profitability & Returns

ROCE

ROE

2.25%

ROA

0.72%

Profit Margin

63.67%

Op Margin

EPS (Latest Qtr)

$-0.57

EPS (TTM)

$0.40

Balance Sheet & Liquidity

Debt/Equity

2.13

Quick Ratio

3.75

Current Ratio

3.82

Debt

$5.39B

Total Assets

$8.19B

Current Assets

Working Capital

Ownership

Promoter Holding

2.23%

Chg in Prom Hold

FII / Inst Holding

109.06%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$10.57B

Total Revenue (TTM)

$87.91M

EBITDA

Free Cash Flow

Operating Cash Flow

$220.05M

Shares Outstanding

127.80M

Gross Margin

100.00%

Payout Ratio

421.25%

Growth (CAGR)

Revenue 5Y

38.02%

Profit 5Y

64.44%

Revenue (YoY)

-28.30%

Earnings (YoY)

PROS

Excellent profit margin of 63.7%.
Compounding revenue at 38.0% over 5 years.
Profit CAGR of 64.4% over 5 years.
Attractive dividend yield of 4.12%.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 102.5.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	HASI HA Sustainable Infrastructure Capital, Inc. R2K	41.00	102.50	$5.24B	4.12%	-	2.25%	38.02%	64.44%
2	JPM JPMorgan Chase & Co. SPX	299.31	14.33	$802.00B	2.00%	-	16.47%	12.50%	14.83%
3	V Visa Inc. SPX	326.36	28.48	$620.65B	0.82%	38.38%	60.35%	10.92%	10.28%
4	MA Mastercard Incorporated SPX	493.98	28.57	$436.47B	0.70%	61.47%	-	13.82%	14.66%
5	MS Morgan Stanley SPX	208.00	18.84	$328.08B	1.92%	-	16.39%	9.52%	15.20%
6	GS The Goldman Sachs Group, Inc. SPX	1,025.56	18.73	$302.55B	1.76%	-	14.55%	7.16%	15.11%
7	WFC Wells Fargo & Company SPX	77.54	11.98	$237.29B	2.32%	-	12.03%	4.02%	15.98%
8	BLK BlackRock, Inc. SPX	1,046.88	26.32	$162.51B	2.19%	4.89%	11.90%	10.65%	2.36%
9	SCHW The Charles Schwab Corporation SPX	87.35	17.37	$151.91B	1.47%	-	19.08%	4.83%	7.21%

Quarterly Results

Figures in USD.

Metric	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	13.53M	15.04M	16.20M	20.48M	21.84M	19.01M	19.86M	23.80M	28.27M	26.40M	27.09M	28.19M	36.13M	35.38M	39.69M	33.14M	31.27M	38.84M	38.33M	40.83M	48.59M	48.59M	48.89M	51.70M	58.89M	48.88M	58.48M	62.80M	60.15M	69.10M	74.33M	89.85M	105.82M	94.52M	-	120.25M	163.62M	156.14M	-31.25M	-54.31M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38.17M	25.67M	36.74M	34.71M	50.21M
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	64.68M	79.75M	71.48M	76.50M	99.28M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	82.08M	137.95M	119.40M	-65.95M	-104.52M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23.90M	38.16M	34.50M	-11.30M	-30.78M
Net Income	1.47M	2.12M	2.25M	3.17M	3.75M	3.33M	4.41M	7.20M	12.34M	7.93M	3.38M	-1.22M	17.26M	16.48M	9.05M	13.65M	12.74M	9.10M	46.08M	24.31M	12.01M	21.18M	24.93M	51.02M	15.97M	-2.84M	45.35M	-18.45M	34.53M	24.11M	13.52M	21.45M	123.03M	26.54M	-	56.61M	98.44M	83.26M	-53.77M	-71.97M
Diluted EPS	0.04	0.06	0.05	0.07	0.09	0.07	-	0.14	0.23	0.14	-	-0.03	0.32	0.30	0.16	0.21	0.19	0.13	0.66	0.35	0.16	0.28	0.32	0.61	0.20	-0.04	0.51	-0.21	0.38	0.26	0.14	0.20	0.98	0.23	-	0.44	0.74	0.61	-0.43	-0.57

Profit & Loss (Annual)

Figures in USD.

Metric	Sep 2011	Sep 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	7.20M	17.29M	24.45M	45.27M	58.68M	81.20M	105.99M	139.40M	141.58M	186.91M	213.17M	155.47M	289.84M	389.11M	408.76M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	106.18M	107.46M	115.28M	135.28M
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	115.56M	171.01M	242.36M	292.40M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	49.29M	182.38M	273.83M	273.48M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	7.38M	31.62M	70.20M	85.25M
Net Income	-	-	-10.46M	9.61M	7.96M	14.65M	30.86M	41.58M	81.56M	82.42M	126.58M	41.50M	148.84M	200.04M	184.55M
Diluted EPS	-	-	-0.68	0.43	0.21	0.32	0.57	0.75	1.24	1.10	1.51	0.47	1.42	1.62	1.41

Compounded Sales Growth

5 Years:	38.02%
1 Year:	-28.30%

Compounded Profit Growth

5 Years:	64.44%
1 Year:	-

Stock Price Performance

1 Year:	+72.62%
6 Months:	+25.17%
3 Months:	+13.55%
1 Month:	+1.38%

Balance Sheet (Annual)

Figures in USD.

Metric	Sep 2010	Sep 2011	Sep 2012	Dec 2012	Apr 2013	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	232.46M	-	-	571.43M	1.01B	1.47B	1.75B	2.25B	2.15B	2.39B	3.46B	-	4.76B	6.55B	7.08B	8.19B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash & Equivalents	5.28M	1.63M	20.95M	8.02M	-	31.85M	58.20M	42.65M	29.43M	57.27M	21.42M	6.21M	286.25M	-	155.71M	62.63M	129.76M	110.22M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.08B	3.11B	2.97B	3.39B
Total Liabilities	-	-	213.30M	-	-	420.81M	734.64M	1.04B	1.17B	1.61B	1.35B	1.45B	2.25B	-	3.10B	4.41B	4.68B	5.53B
Current Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long Term Debt	-	-	-	-	-	259.92M	320.70M	664.00M	692.00M	1.21B	835.00M	700.00M	593.00M	-	-	-	-	-
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.98B	4.25B	4.40B	5.15B
Total Equity	22.43M	16.29M	19.16M	5.85M	161.80M	150.62M	274.04M	432.11M	574.34M	642.78M	804.52M	939.91M	1.21B	-	1.63B	2.09B	2.34B	2.57B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	90.84M	112.17M	118.96M	127.64M

Cash Flows (Annual)

Figures in USD.

Metric	Sep 2011	Sep 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	1.53M	9.73M	-10.75M	-	-	56.85M	11.72M	58.79M	29.49M	73.28M	13.31M	230.00K	99.69M	5.85M	167.32M
Investing Cash Flow	8.20M	-40.23M	-229.29M	-	-	-190.63M	-297.88M	50.80M	-201.14M	-831.65M	-703.40M	-592.11M	-1.99B	-131.19M	-855.83M
Financing Cash Flow	-13.38M	49.81M	263.87M	-	-	113.70M	345.20M	-168.42M	218.88M	962.12M	630.84M	516.78M	1.79B	200.41M	683.58M
Capital Expenditure	-52.00K	-217.00K	-65.00K	-	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow	1.48M	9.52M	-10.82M	-	-	-	-	-	-	-	-	230.00K	99.69M	5.85M	167.32M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-75.10M	-100.89M	75.08M	-4.93M
Share Buybacks	-	-	366.00K	205.00K	-	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-	-	7.13M	13.86M	31.59M	49.48M	68.23M	70.99M	86.41M	99.87M	113.51M	132.20M	159.79M	192.27M	209.78M

Ratios (Annual)

Figures in %.

Metric	Sep 2011	Sep 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Margin %	-	-	-42.8%	21.2%	13.6%	18.0%	29.1%	29.8%	57.6%	44.1%	59.4%	26.7%	51.4%	51.4%	45.1%
ROE %	-	-	-6.9%	3.5%	1.8%	2.6%	4.8%	5.2%	8.7%	6.8%	-	2.5%	7.1%	8.6%	7.2%
ROCE %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Shareholding Pattern

Insiders

2.23%

Institutions

109.06%

Public Float

111.54%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	15.66%	20.11M	$824.47M
2	Wellington Management Group, LLP	8.87%	11.39M	$466.93M
3	Vanguard Portfolio Management LLC	6.03%	7.74M	$317.27M
4	T. Rowe Price Investment Management, Inc.	5.33%	6.85M	$280.67M
5	Vanguard Capital Management LLC	4.44%	5.70M	$233.61M
6	State Street Corporation	4.20%	5.40M	$221.34M
7	Alliancebernstein L.P.	3.56%	4.57M	$187.57M
8	JPMORGAN CHASE & CO	3.08%	3.95M	$162.13M
9	Geode Capital Management, LLC	2.41%	3.09M	$126.74M
10	Invesco Ltd.	2.10%	2.70M	$110.59M

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HASI · Financial Services