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HASI logoHA Sustainable Infrastructure Capital, Inc.(HASI)Earnings, Financials & Key Ratios

HASI•NYSE•Banking & Credit
$42.97
$5.49B mkt cap·30.5× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryDiversified FinancialSub-IndustrySustainable infrastructure specialty finance
AboutHA Sustainable Infrastructure Capital, Inc. engages in investing in climate solutions and the provision of capital to assets developed by companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. It focuses on Behind the Meter, Grid-Connected, Fuels, Transport, and Nature climate solutions. The company was founded on November 7, 2012 and is headquartered in Annapolis, MD.Show more
  • Net Interest Income-$6M-112.7%
  • Total Revenue$401M-36.6%
  • Net Income$185M-7.7%
  • Return on Equity7.29%-17.2%
  • Net Interest Margin-0.07%-111.0%
  • Efficiency Ratio33.39%+82.9%
  • ROA2.42%-17.6%
  • Equity / Assets32.46%-4.4%
  • Book Value per Share19.23+4.4%
  • Tangible BV/Share19.23+4.4%
  • Debt/Equity1.91+4.4%
Technical→

HASI Key Insights

HA Sustainable Infrastructure Capital, Inc. (HASI) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 17.5%
  • ✓Efficient operations: 33.4% efficiency ratio
  • ✓Momentum leader: RS Rating 84 (top 16%)
  • ✓Well capitalized: 32.5% equity/assets
  • ✓Healthy dividend yield of 3.5%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Weak NIM of -0.1%
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

HASI Price & Volume

HA Sustainable Infrastructure Capital, Inc. (HASI) stock price & volume — 10-year historical chart

Loading chart...

HASI Growth Metrics

HA Sustainable Infrastructure Capital, Inc. (HASI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years21.2%
5 Years11.26%
3 Years13.9%
TTM-

Profit CAGR

10 Years36.94%
5 Years17.49%
3 Years64.44%
TTM-7.74%

EPS CAGR

10 Years20.98%
5 Years5.09%
3 Years46.33%
TTM-12.26%

Return on Capital

10 Years2.74%
5 Years3.2%
3 Years3.67%
Last Year3.54%

HASI Recent Earnings

HA Sustainable Infrastructure Capital, Inc. (HASI) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 12/12 qtrs (100%)
Q1 2026Latest
Feb 12, 2026
EPS
$0.67
Est $0.66
+1.5%
Revenue
$115M
Est $106M
+8.4%
Q4 2025
Nov 6, 2025
EPS
$0.80
Est $0.69
+15.9%
Revenue
$228M
Est $29M
+692.1%
Q3 2025
Aug 7, 2025
EPS
$0.60
Est $0.62
-3.2%
Revenue
$86M
Est $44M
+94.7%
Q2 2025
May 7, 2025
EPS
$0.64
Est $0.64
+0.0%
Revenue
$185M
Est $39M
+373.4%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 12, 2026
$0.67vs $0.66+1.5%
$115Mvs $106M+8.4%
Q4 2025Nov 6, 2025
$0.80vs $0.69+15.9%
$228Mvs $29M+692.1%
Q3 2025Aug 7, 2025
$0.60vs $0.62-3.2%
$86Mvs $44M+94.7%
Q2 2025May 7, 2025
$0.64vs $0.64+0.0%
$185Mvs $39M+373.4%
Based on last 12 quarters of dataView full earnings history →

HASI Peer Comparison

HA Sustainable Infrastructure Capital, Inc. (HASI) competitors in Sustainable infrastructure specialty finance — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CSWC logoCSWCCapital Southwest CorporationDirect Competitor1.44B24.3016.537.67%43.07%10.32%1.08
ARCC logoARCCAres Capital CorporationDirect Competitor13.89B19.3510.4032.87%41.3%8.11%8.22%1.12
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.53B13.409.4442.5%43.19%6.42%1.23
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor221.89M5.484.4936.55%50.62%14.02%1.33
BEP logoBEPBrookfield Renewable Partners L.P.Product Competitor10.31B33.68-499.7010.95%3.3%0.63%1.02
CWEN logoCWENClearway Energy, Inc.Product Competitor8B38.9327.424.23%11.83%2.98%4.61%1.72
NEE logoNEENextEra Energy, Inc.Supply Chain200.77B96.2829.2611%29.3%12.66%1.44
ENPH logoENPHEnphase Energy, Inc.Supply Chain4.75B36.0227.9210.72%9.64%13.28%2.02%1.14

Compare HASI vs Peers

HA Sustainable Infrastructure Capital, Inc. (HASI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CSWC

Most directly comparable listed peer for HASI.

Scale Benchmark

vs NEE

Larger-name benchmark to compare HASI against a more recognizable public peer.

Peer Set

Compare Top 5

vs CSWC, ARCC, GBDC, TPVG

HASI Income Statement

HA Sustainable Infrastructure Capital, Inc. (HASI) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Net Interest Income-3.25M-939K11.96M3.38M-5.12M37M56.05M47.48M-6.04M
NII Growth %-167.84%71.06%1373.59%-71.76%-251.73%822.13%51.46%-15.28%-112.72%
Net Interest Margin %-0.14%-0.04%0.5%0.1%-0.12%0.78%0.86%0.67%-0.07%
Interest Income62.23M75.94M76.2M95.56M116.58M152.56M227.05M289.85M286.36M
Interest Expense65.47M76.87M64.24M92.18M121.7M115.56M171.01M242.36M292.4M
Loan Loss Provision00000000-290.84M
Non-Interest Income66.05M85.62M129.56M139.31M223.01M118.47M233.79M341.63M114.14M
Non-Interest Income %51.49%53%62.97%59.31%65.67%43.71%50.73%54.1%28.5%
Total Revenue
128.28M▲ 0%
161.56M▲ 25.9%
205.75M▲ 27.4%
234.87M▲ 14.2%
339.59M▲ 44.6%
271.03M▼ 20.2%
460.85M▲ 70.0%
631.47M▲ 37.0%
400.5M▼ 36.6%
Revenue Growth %46.92%25.95%27.36%14.15%44.59%-20.19%70.04%37.03%-36.58%
Non-Interest Expense30.88M40.74M51.5M62.71M73.38M106.18M107.46M115.28M133.72M
Efficiency Ratio24.08%25.22%25.03%26.7%21.61%39.18%23.32%18.26%33.39%
Operating Income
31.92M▲ 0%
43.94M▲ 37.7%
90.02M▲ 104.9%
79.98M▼ 11.2%
144.5M▲ 80.7%
49.29M▼ 65.9%
182.38M▲ 270.0%
273.83M▲ 50.1%
265.22M▼ 3.1%
Operating Margin %24.88%27.2%43.75%34.05%42.55%18.19%39.57%43.36%66.22%
Operating Income Growth %114.27%37.66%104.85%-11.15%80.68%-65.89%270%50.14%-3.14%
Pretax Income
31.92M▲ 0%
43.94M▲ 37.7%
90.02M▲ 104.9%
79.98M▼ 11.2%
144.5M▲ 80.7%
49.29M▼ 65.9%
182.38M▲ 270.0%
273.83M▲ 50.1%
273.48M▼ 0.1%
Pretax Margin %24.88%27.2%43.75%34.05%42.55%18.19%39.57%43.36%68.29%
Income Tax885K2.14M8.1M-2.78M17.16M7.38M31.62M70.2M85.25M
Effective Tax Rate %2.77%4.88%8.99%-3.47%11.87%14.97%17.34%25.64%31.17%
Net Income
30.86M▲ 0%
41.58M▲ 34.7%
81.56M▲ 96.2%
82.42M▲ 1.0%
126.58M▲ 53.6%
41.5M▼ 67.2%
148.84M▲ 258.6%
200.04M▲ 34.4%
184.55M▼ 7.7%
Net Margin %24.05%25.74%39.64%35.09%37.27%15.31%32.3%31.68%46.08%
Net Income Growth %110.59%34.75%96.18%1.04%53.59%-67.21%258.62%34.4%-7.74%
Net Income (Continuing)31.04M41.8M81.92M82.76M127.35M41.91M150.76M203.63M188.24M
EPS (Diluted)
0.57▲ 0%
0.75▲ 31.6%
1.24▲ 65.3%
1.10▼ 11.3%
1.51▲ 37.3%
0.45▼ 70.2%
1.42▲ 215.6%
1.62▲ 14.1%
1.41▼ 13.0%
EPS Growth %78.13%31.58%65.33%-11.29%37.27%-70.2%215.56%14.08%-12.96%
EPS (Basic)0.570.751.251.131.570.471.451.721.49
Diluted Shares Outstanding50.36M52.78M64.77M74.37M87.67M90.61M109.47M130.5M138.18M

HASI Balance Sheet

HA Sustainable Infrastructure Capital, Inc. (HASI) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash & Short Term Investments57.27M21.42M6.21M286.25M226.2M155.71M62.63M129.76M145.22M
Cash & Due from Banks57.27M21.42M6.21M286.25M226.2M155.71M62.63M129.76M145.22M
Short Term Investments000000000
Total Investments673.82M640.84M498.63M1.28B1.76B1.87B2.97B3.61B4.19B
Investments Growth %59.92%-4.9%-22.19%156.63%37.51%6.25%58.65%21.78%16.05%
Long-Term Investments673.82M640.84M498.63M1.28B1.76B1.87B2.97B3.61B4.19B
Accounts Receivables001.16B1.21B1.45B2.08B3.11B2.97B3.69B
Goodwill & Intangibles94M96M0087M84M14M00
Goodwill000000000
Intangible Assets94M96M0087M84M14M00
PP&E (Net)000000000
Other Assets1.48B1.42B722.83M679.26M629.3M575.47M400.26M366.7M156.82M
Total Current Assets1.07B1B1.17B1.5B1.67B2.23B3.17B3.1B3.84B
Total Non-Current Assets2.25B2.15B1.22B1.96B2.48B2.53B3.38B3.98B4.35B
Total Assets
2.25B▲ 0%
2.15B▼ 4.2%
2.39B▲ 10.8%
3.46B▲ 44.9%
4.15B▲ 19.9%
4.76B▲ 14.7%
6.55B▲ 37.7%
7.08B▲ 8.1%
8.19B▲ 15.6%
Asset Growth %28.88%-4.23%10.78%44.9%19.93%14.75%37.65%8.06%15.65%
Return on Assets (ROA)1.54%1.89%3.59%2.82%3.33%0.93%2.63%2.93%2.42%
Accounts Payable25.64M36.51M54.35M59.94M88.87M120.11M163.31M275.64M0
Total Debt1.43B1.24B1.39B2.19B2.49B2.98B4.25B4.4B5.08B
Net Debt1.37B1.22B1.39B1.9B2.27B2.82B4.18B4.27B4.93B
Long-Term Debt1.43B1.24B1.39B2.19B2.49B2.98B4.25B4.4B5.06B
Short-Term Debt66M000000015M
Other Liabilities178.95M110.61M000000453.7M
Total Current Liabilities24.55M34.51M54.35M59.94M88.87M120.11M163.31M275.64M15M
Total Non-Current Liabilities1.61B1.35B1.39B2.19B2.49B2.98B4.25B4.4B5.52B
Total Liabilities1.61B1.35B1.45B2.25B2.58B3.1B4.41B4.68B5.53B
Total Equity
642.78M▲ 0%
804.52M▲ 25.2%
939.91M▲ 16.8%
1.21B▲ 28.8%
1.57B▲ 29.4%
1.66B▲ 6.3%
2.14B▲ 28.6%
2.41B▲ 12.3%
2.66B▲ 10.5%
Equity Growth %11.92%25.16%16.83%28.75%29.45%6.27%28.65%12.3%10.51%
Equity / Assets (Capital Ratio)28.57%37.33%39.37%34.98%37.76%34.97%32.68%33.97%32.46%
Return on Equity (ROE)5.07%5.75%9.35%7.67%9.12%2.57%7.82%8.8%7.29%
Book Value per Share12.7615.2414.5116.2717.8718.3719.5618.4319.23
Tangible BV per Share10.9013.4214.5116.2716.8817.4519.4418.4319.23
Common Stock517K605K663K765K853K908K1.12M1.19M1.28M
Additional Paid-in Capital770.98M965.38M1.1B1.39B1.73B1.92B2.38B2.59B2.85B
Retained Earnings-131.25M-163.21M-169.79M-204.11M-193.71M-285.47M-303.54M-297.5M-323.07M
Accumulated OCI-1.06M-1.68M009.9M-10.4M13.16M40.1M47.08M
Treasury Stock000000000
Preferred Stock000000000

HASI Cash Flow Statement

HA Sustainable Infrastructure Capital, Inc. (HASI) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations11.72M58.79M29.49M73.28M13.31M230K99.69M5.85M226.73M
Operating CF Growth %-79.39%401.78%-49.84%148.51%-81.84%-98.27%43243.04%-94.13%3774.45%
Net Income31.04M41.8M81.92M82.76M127.35M41.91M150.76M203.63M182.63M
Depreciation & Amortization3.55M4.53M3.59M3.58M3.8M3.99M3.13M1M780K
Deferred Taxes000000000
Other Non-Cash Items-19.2M-7.1M-43.49M3.2M-106.26M14.52M-110.11M-192.28M-12.45M
Working Capital Changes-3.67M19.57M-12.54M-16.26M-11.58M-60.19M55.92M-6.5M55.77M
Cash from Investing-297.88M50.8M-201.14M-831.65M-703.4M-592.11M-1.99B-131.19M-915.24M
Purchase of Investments-254.93M-101.66M-197.93M-926.05M-406.69M-140.22M-883.82M-407.15M-518.5M
Sale/Maturity of Investments8.18M41.1M227.15M70.94M14.78M8.72M014.86M0
Net Investment Activity-246.75M-60.56M29.23M-855.1M-391.91M-131.5M-883.82M-392.29M-518.5M
Acquisitions000000000
Other Investing-51.13M111.36M-230.37M23.45M-311.49M-460.61M-1.11B261.1M-396.75M
Cash from Financing345.2M-168.42M218.88M962.12M630.84M516.78M1.79B200.41M683.58M
Dividends Paid-68.23M-70.99M-86.41M-99.87M-113.51M-132.2M-159.79M-192.27M-209.78M
Share Repurchases00000000-8.39M
Stock Issued96.9M187.26M138.38M298.07M200.64M188.88M492.38M203.53M236.74M
Net Stock Activity96.9M187.26M138.38M298.07M200.64M188.88M492.38M203.53M228.34M
Debt Issuance (Net)1000K-1000K1000K1000K1000K1000K1000K1000K1000K
Other Financing-150.18M-88.59M-37.72M-32.46M-45.88M-24.79M-18.2M16.14M-51.83M
Net Change in Cash
59.03M▲ 0%
-58.82M▼ 199.6%
47.23M▲ 180.3%
203.75M▲ 331.4%
-59.26M▼ 129.1%
-75.1M▼ 26.7%
-100.89M▼ 34.3%
75.08M▲ 174.4%
-4.93M▼ 106.6%
Exchange Rate Effect000000000
Cash at Beginning59.14M118.18M59.35M106.59M310.33M251.07M175.97M75.08M150.16M
Cash at End118.18M59.35M106.59M310.33M251.07M175.97M75.08M150.16M145.22M
Interest Paid000000000
Income Taxes Paid000000000
Free Cash Flow
11.72M▲ 0%
58.79M▲ 401.8%
29.49M▼ 49.8%
73.28M▲ 148.5%
13.31M▼ 81.8%
230K▼ 98.3%
99.69M▲ 43243.0%
5.85M▼ 94.1%
226.73M▲ 3774.5%
FCF Growth %-79.39%401.78%-49.84%148.51%-81.84%-98.27%43243.04%-94.13%3774.45%

HASI Banking Ratios

HA Sustainable Infrastructure Capital, Inc. (HASI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)2.91%5.07%5.75%9.35%7.67%9.12%2.57%7.82%8.8%7.29%
Return on Assets (ROA)0.91%1.54%1.89%3.59%2.82%3.33%0.93%2.63%2.93%2.42%
Net Interest Margin0.27%-0.14%-0.04%0.5%0.1%-0.12%0.78%0.86%0.67%-0.07%
Efficiency Ratio31.12%24.08%25.22%25.03%26.7%21.61%39.18%23.32%18.26%33.39%
Equity / Assets32.9%28.57%37.33%39.37%34.98%37.76%34.97%32.68%33.97%32.46%
Book Value / Share14.2512.7615.2414.5116.2717.8718.3719.5618.4319.23
NII Growth-61.77%-167.84%71.06%1373.59%-71.76%-251.73%822.13%51.46%-15.28%-112.72%
Dividend Payout337.71%221.14%170.74%105.94%121.17%89.68%318.53%107.36%96.12%113.67%

HASI SEC Filings & Documents

HA Sustainable Infrastructure Capital, Inc. (HASI) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 27, 2026·SEC

Material company update

Mar 3, 2026·SEC

Material company update

Mar 2, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 14, 2025·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 8, 2025·SEC

HASI Frequently Asked Questions

HA Sustainable Infrastructure Capital, Inc. (HASI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

HA Sustainable Infrastructure Capital, Inc. (HASI) saw revenue decline by 36.6% over the past year.

Yes, HA Sustainable Infrastructure Capital, Inc. (HASI) is profitable, generating $184.5M in net income for fiscal year 2025 (46.1% net margin).

Dividend & Returns

Yes, HA Sustainable Infrastructure Capital, Inc. (HASI) pays a dividend with a yield of 3.53%. This makes it attractive for income-focused investors.

HA Sustainable Infrastructure Capital, Inc. (HASI) has a return on equity (ROE) of 7.3%. This is below average, suggesting room for improvement.

Industry Metrics

HA Sustainable Infrastructure Capital, Inc. (HASI) has a net interest margin (NIM) of -0.1%. NIM has been under pressure due to interest rate environment.

HA Sustainable Infrastructure Capital, Inc. (HASI) has an efficiency ratio of 33.4%. This is excellent, indicating strong cost control.

Explore More HASI

HA Sustainable Infrastructure Capital, Inc. (HASI) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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