Comprehensive Stock Comparison
Compare Clearway Energy, Inc. (CWEN) vs Algonquin Power & Utilities Corp. (AQN) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CWEN | 4.2% revenue growth vs AQN's -3.5% |
| Value | AQN | Lower P/E (19.2x vs 37.0x) |
| Quality / Margins | CWEN | 11.8% net margin vs AQN's -57.7% |
| Stability / Safety | AQN | Beta 0.44 vs CWEN's 0.55, lower leverage |
| Dividends | CWEN | 7.9% yield, 2-year raise streak, vs AQN's 5.6% |
| Momentum (1Y) | AQN | +51.5% vs CWEN's +43.0% |
| Efficiency (ROA) | CWEN | 1.0% ROA vs AQN's -10.0%, ROIC 0.9% vs 2.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Clearway Energy is a renewable energy company that owns and operates wind, solar, and natural gas power generation facilities across the United States. It makes money primarily through long-term power purchase agreements — selling electricity to utilities and corporate customers — with its renewable segment contributing roughly two-thirds of revenue and natural gas making up the remainder. The company's key advantage is its portfolio of contracted assets with predictable cash flows, backed by long-term agreements that provide revenue stability in volatile energy markets.
Algonquin Power & Utilities is a diversified utility company that operates both regulated utilities and renewable energy generation assets. It generates revenue through regulated utility services — primarily electric, natural gas, and water distribution — and through selling electricity from its renewable portfolio of hydro, wind, and solar facilities. The company benefits from stable cash flows from its regulated utility operations while capitalizing on growth opportunities in renewable energy development.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
AQN leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). CWEN leads in 3 (Valuation Metrics, Total Returns).
Financial Metrics (TTM)
AQN is the larger business by revenue, generating $2.4B annually — 1.7x CWEN's $1.4B. CWEN is the more profitable business, keeping 11.8% of every revenue dollar as net income compared to AQN's -57.7%. On growth, CWEN holds the edge at +21.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CWENClearway Energy, … | AQNAlgonquin Power &… |
|---|---|---|
| RevenueTrailing 12 months | $1.4B | $2.4B |
| EBITDAEarnings before interest/tax | $1.0B | $792M |
| Net IncomeAfter-tax profit | $169M | -$1.4B |
| Free Cash FlowCash after capex | $268M | $2.6B |
| Gross MarginGross profit ÷ Revenue | +50.3% | +65.1% |
| Operating MarginEBIT ÷ Revenue | +12.0% | +19.4% |
| Net MarginNet income ÷ Revenue | +11.8% | -57.7% |
| FCF MarginFCF ÷ Revenue | +18.8% | +109.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +21.1% | +2.4% |
| EPS Growth (YoY)Latest quarter vs prior year | -35.3% | -89.3% |
Valuation Metrics
On an enterprise value basis, CWEN's 10.3x EV/EBITDA is more attractive than AQN's 13.0x.
| Metric | CWENClearway Energy, … | AQNAlgonquin Power &… |
|---|---|---|
| Market CapShares × price | $1.6B | $5.4B |
| Enterprise ValueMkt cap + debt − cash | $11.0B | $12.0B |
| Trailing P/EPrice ÷ TTM EPS | 26.98x | -3.86x |
| Forward P/EPrice ÷ next-FY EPS est. | 37.01x | 19.20x |
| PEG RatioP/E ÷ EPS growth rate | 0.60x | — |
| EV / EBITDAEnterprise value multiple | 10.34x | 13.03x |
| Price / SalesMarket cap ÷ Revenue | 1.11x | 2.31x |
| Price / BookPrice ÷ Book value/share | 0.77x | 0.83x |
| Price / FCFMarket cap ÷ FCF | 4.32x | — |
Profitability & Efficiency
CWEN delivers a 2.9% return on equity — every $100 of shareholder capital generates $3 in annual profit, vs $-27 for AQN. AQN carries lower financial leverage with a 1.08x debt-to-equity ratio, signaling a more conservative balance sheet compared to CWEN's 1.72x. On the Piotroski fundamental quality scale (0–9), AQN scores 6/9 vs CWEN's 4/9, reflecting solid financial health.
| Metric | CWENClearway Energy, … | AQNAlgonquin Power &… |
|---|---|---|
| ROE (TTM)Return on equity | +2.9% | -26.7% |
| ROA (TTM)Return on assets | +1.0% | -10.0% |
| ROICReturn on invested capital | +0.9% | +2.5% |
| ROCEReturn on capital employed | +1.2% | +2.8% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 |
| Debt / EquityFinancial leverage | 1.72x | 1.08x |
| Net DebtTotal debt minus cash | $9.4B | $6.7B |
| Cash & Equiv.Liquid assets | $818M | $35M |
| Total DebtShort + long-term debt | $10.2B | $6.7B |
| Interest CoverageEBIT ÷ Interest expense | 0.45x | 1.29x |
Total Returns (with DRIP)
A $10,000 investment in CWEN five years ago would be worth $15,865 today (with dividends reinvested), compared to $6,015 for AQN. Over the past 12 months, AQN leads with a +51.5% total return vs CWEN's +43.0%. The 3-year compound annual growth rate (CAGR) favors CWEN at 11.3% vs AQN's 2.0% — a key indicator of consistent wealth creation.
| Metric | CWENClearway Energy, … | AQNAlgonquin Power &… |
|---|---|---|
| YTD ReturnYear-to-date | +12.8% | +14.1% |
| 1-Year ReturnPast 12 months | +43.0% | +51.5% |
| 3-Year ReturnCumulative with dividends | +37.8% | +6.0% |
| 5-Year ReturnCumulative with dividends | +58.6% | -39.8% |
| 10-Year ReturnCumulative with dividends | +289.9% | +55.5% |
| CAGR (3Y)Annualised 3-year return | +11.3% | +2.0% |
Risk & Volatility
AQN is the less volatile stock with a 0.44 beta — it tends to amplify market swings less than CWEN's 0.55 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. AQN currently trades 98.2% from its 52-week high vs CWEN's 92.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CWENClearway Energy, … | AQNAlgonquin Power &… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.55x | 0.44x |
| 52-Week HighHighest price in past year | $41.47 | $7.11 |
| 52-Week LowLowest price in past year | $25.63 | $4.29 |
| % of 52W HighCurrent price vs 52-week peak | +92.4% | +98.2% |
| RSI (14)Momentum oscillator 0–100 | 51.7 | 68.6 |
| Avg Volume (50D)Average daily shares traded | 877K | 4.0M |
Analyst Outlook
Wall Street rates CWEN as "Buy" and AQN as "Hold". Consensus price targets imply 8.3% upside for CWEN (target: $42) vs 0.3% for AQN (target: $7). For income investors, CWEN offers the higher dividend yield at 7.85% vs AQN's 5.58%.
| Metric | CWENClearway Energy, … | AQNAlgonquin Power &… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $41.50 | $7.00 |
| # AnalystsCovering analysts | 16 | 12 |
| Dividend YieldAnnual dividend ÷ price | +7.9% | +5.6% |
| Dividend StreakConsecutive years of raises | 2 | 0 |
| Dividend / ShareAnnual DPS | $3.01 | $0.39 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.1% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Clearway Energy, In… (CWEN) | 100 | 165.03 | +65.0% |
| Algonquin Power & U… (AQN) | 100 | 41.68 | -58.3% |
Clearway Energy, In… (CWEN) returned +59% over 5 years vs Algonquin Power & U… (AQN)'s -40%. A $10,000 investment in CWEN 5 years ago would be worth $15,865 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Clearway Energy, In… (CWEN) | $1.0B | $1.4B | +40.0% |
| Algonquin Power & U… (AQN) | $815M | $2.3B | +184.5% |
Clearway Energy, Inc.'s revenue grew from $1.0B (2016) to $1.4B (2025) — a 3.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Clearway Energy, In… (CWEN) | 5.6% | 11.8% | +111.8% |
| Algonquin Power & U… (AQN) | 11.9% | -59.5% | -598.2% |
Clearway Energy, Inc.'s net margin went from 6% (2016) to 12% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Clearway Energy, In… (CWEN) | 37.5 | 23.4 | -37.6% |
| Algonquin Power & U… (AQN) | 30.2 | 210.7 | +597.7% |
Clearway Energy, Inc. has traded in a 6x–145x P/E range over 7 years; current trailing P/E is ~27x. Algonquin Power & Utilities Corp. has traded in a 12x–211x P/E range over 6 years; current trailing P/E is ~-4x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Clearway Energy, In… (CWEN) | 0.58 | 1.42 | +144.8% |
| Algonquin Power & U… (AQN) | 0.33 | -1.81 | -648.5% |
Clearway Energy, Inc.'s EPS grew from $0.58 (2016) to $1.42 (2025) — a 10% CAGR.
Chart 6Free Cash Flow — 5 Years
Clearway Energy, Inc. generated $369M FCF in 2025 (-33% vs 2021). Algonquin Power & Utilities Corp. generated $-391M FCF in 2024 (+67% vs 2021).
CWEN vs AQN: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is CWEN or AQN a better buy right now?
Clearway Energy, Inc. (CWEN) offers the better valuation at 27.0x trailing P/E (37.0x forward), making it the more compelling value choice. Analysts rate Clearway Energy, Inc. (CWEN) a "Buy" — based on 16 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CWEN or AQN?
On forward P/E, Algonquin Power & Utilities Corp. is actually cheaper at 19.2x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — CWEN or AQN?
Over the past 5 years, Clearway Energy, Inc. (CWEN) delivered a total return of +58.6%, compared to -39.8% for Algonquin Power & Utilities Corp. (AQN). A $10,000 investment in CWEN five years ago would be worth approximately $16K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CWEN returned +289.9% versus AQN's +55.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CWEN or AQN?
By beta (market sensitivity over 5 years), Algonquin Power & Utilities Corp. (AQN) is the lower-risk stock at 0.44β versus Clearway Energy, Inc.'s 0.55β — meaning CWEN is approximately 24% more volatile than AQN relative to the S&P 500. On balance sheet safety, Algonquin Power & Utilities Corp. (AQN) carries a lower debt/equity ratio of 108% versus 172% for Clearway Energy, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — CWEN or AQN?
Clearway Energy, Inc. (CWEN) is the more profitable company, earning 11.8% net margin versus -59.5% for Algonquin Power & Utilities Corp. — meaning it keeps 11.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: AQN leads at 19.2% versus 12.3% for CWEN. At the gross margin level — before operating expenses — AQN leads at 74.4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is CWEN or AQN more undervalued right now?
On forward earnings alone, Algonquin Power & Utilities Corp. (AQN) trades at 19.2x forward P/E versus 37.0x for Clearway Energy, Inc. — 17.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CWEN: 8.3% to $41.50.
07Which pays a better dividend — CWEN or AQN?
All stocks in this comparison pay dividends. Clearway Energy, Inc. (CWEN) offers the highest yield at 7.9%, versus 5.6% for Algonquin Power & Utilities Corp. (AQN).
08Is CWEN or AQN better for a retirement portfolio?
For long-horizon retirement investors, Clearway Energy, Inc. (CWEN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.55), 7.9% yield, +289.9% 10Y return). Both have compounded well over 10 years (CWEN: +289.9%, AQN: +55.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between CWEN and AQN?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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