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CWEN logoClearway Energy, Inc.(CWEN)Earnings, Financials & Key Ratios

CWEN•NYSE•Utilities
$38.93
$8B mkt cap·27.4× P/E·Price updated May 6, 2026
SectorUtilitiesIndustryRenewable EnergySub-IndustryRenewable Utilities and Asset Owners
AboutClearway Energy, Inc. operates in the renewable energy business in the United States. It has approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities. The company was formerly known as NRG Yield, Inc. and changed its name to Clearway Energy, Inc. in August 2018. Clearway Energy, Inc. was incorporated in 2012 and is based in Princeton, New Jersey. Clearway Energy, Inc. is a subsidiary of Clearway Energy Group LLC.Show more
  • Revenue$1.43B+4.2%
  • EBITDA$1.06B+5.6%
  • Net Income$169M+92.0%
  • Free Cash Flow$369M+720.0%
  • EBITDA Margin74.25%+1.3%
  • Net Margin11.83%+84.3%
  • ROE2.94%+76.7%
  • Interest Coverage0.55-38.6%
  • Debt/Equity1.72+23.8%
  • Net Debt/EBITDA8.84+19.8%
  • CapEx / Revenue22.32%-57.8%
  • CapEx Coverage2.16+103.1%
Technical→

CWEN Key Insights

Clearway Energy, Inc. (CWEN) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 46.6%
  • ✓Trading at only 0.8x book value

✗Weaknesses

  • ✗Weak 3Y average ROE of 2.1%
  • ✗High leverage: 9.6x Debt/EBITDA
  • ✗Weak interest coverage of 0.5x
  • ✗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.

CWEN Price & Volume

Clearway Energy, Inc. (CWEN) stock price & volume — 10-year historical chart

Loading chart...

CWEN Growth Metrics

Clearway Energy, Inc. (CWEN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years4.13%
5 Years3.57%
3 Years6.29%
TTM4.23%

Profit CAGR

10 Years17.74%
5 Years46.55%
3 Years-33.78%
TTM92.05%

EPS CAGR

10 Years13.51%
5 Years45.2%
3 Years-34.22%
TTM92.44%

Return on Capital

10 Years3.74%
5 Years4.01%
3 Years1.57%
Last Year1.2%

CWEN Recent Earnings

Clearway Energy, Inc. (CWEN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 6/12 qtrs (50%)
Q1 2026Latest
Feb 23, 2026
EPS
$0.89
Est $0.21
-323.8%
Revenue
$310M
Est $334M
-7.1%
Q4 2025
Nov 4, 2025
EPS
$2.00
Est $0.32
+525.0%
Revenue
$429M
Est $335M
+28.0%
Q3 2025
Aug 5, 2025
EPS
$0.28
Est $0.67
-58.2%
Revenue
$392M
Est $420M
-6.7%
Q2 2025
Apr 30, 2025
EPS
$0.03
Est $0.25
+112.0%
Revenue
$298M
Est $306M
-2.6%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 23, 2026
$0.89vs $0.21-323.8%
$310Mvs $334M-7.1%
Q4 2025Nov 4, 2025
$2.00vs $0.32+525.0%
$429Mvs $335M+28.0%
Q3 2025Aug 5, 2025
$0.28vs $0.67-58.2%
$392Mvs $420M-6.7%
Q2 2025Apr 30, 2025
$0.03vs $0.25+112.0%
$298Mvs $306M-2.6%
Based on last 12 quarters of dataView full earnings history →

CWEN Peer Comparison

Clearway Energy, Inc. (CWEN) competitors in Renewable Utilities and Asset Owners — 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
BEP logoBEPBrookfield Renewable Partners L.P.Direct Competitor10.31B33.68-499.7010.95%3.3%0.63%1.02
BEPC logoBEPCBrookfield Renewable CorporationDirect Competitor5.34B36.69-2.81-10%-62.88%-20.21%1.69
NEE logoNEENextEra Energy, Inc.Product Competitor200.77B96.2829.2611%29.3%12.66%1.44
AES logoAESThe AES CorporationProduct Competitor10.25B14.3711.40-0.37%8.42%10.65%2.54
RUN logoRUNSunrun Inc.Product Competitor3.14B13.467.8745.11%15.24%14.17%4.64
ARRY logoARRYArray Technologies, Inc.Product Competitor1.25B8.18-11.2140.22%-4.07%-20.06%0.41
ORA logoORAOrmat Technologies, Inc.Product Competitor6.98B115.3457.1012.49%12.52%2.48%0.14
ENPH logoENPHEnphase Energy, Inc.Supply Chain4.75B36.0227.9210.72%9.64%13.28%2.02%1.14

Compare CWEN vs Peers

Clearway Energy, Inc. (CWEN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BEP

Most directly comparable listed peer for CWEN.

Scale Benchmark

vs GE

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

Peer Set

Compare Top 5

vs BEP, BEPC, NEE, AES

CWEN Income Statement

Clearway Energy, Inc. (CWEN) 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
Revenue1.01B1.05B1.03B1.2B1.29B1.19B1.31B1.37B1.43B
Revenue Growth %-1.18%4.36%-1.99%16.18%7.26%-7.46%10.42%4.34%4.23%
Cost of Revenue326M332M337M366M451M435M473M501M1.21B
Gross Profit
683M▲ 0%
721M▲ 5.6%
695M▼ 3.6%
833M▲ 19.9%
835M▲ 0.2%
755M▼ 9.6%
841M▲ 11.4%
870M▲ 3.4%
217M▼ 75.1%
Gross Margin %67.69%68.47%67.34%69.47%64.93%63.45%64%63.46%15.19%
Gross Profit Growth %-4.48%5.56%-3.61%19.86%0.24%-9.58%11.39%3.45%-75.06%
Operating Expenses353M354M471M500M568M-715M578M674M41M
Other Operating Expenses---------
EBITDA687M748M696M851M922M2.15B974M1B1.06B
EBITDA Margin %68.09%71.04%67.44%70.98%71.7%181.01%74.12%73.3%74.25%
EBITDA Growth %15.08%8.88%-6.95%22.27%8.34%133.62%-54.78%3.18%5.57%
Depreciation & Amortization404M401M472M518M655M684M711M809M885M
D&A / Revenue %40.04%38.08%45.74%43.2%50.93%57.48%54.11%59.01%61.93%
Operating Income (EBIT)
283M▲ 0%
347M▲ 22.6%
224M▼ 35.4%
333M▲ 48.7%
267M▼ 19.8%
1.47B▲ 450.6%
263M▼ 82.1%
196M▼ 25.5%
176M▼ 10.2%
Operating Margin %28.05%32.95%21.71%27.77%20.76%123.53%20.02%14.3%12.32%
Operating Income Growth %29.82%22.61%-35.45%48.66%-19.82%450.56%-82.11%-25.48%-10.2%
Interest Expense306M306M404M415M312M232M337M307M387M
Interest Coverage1.16x1.38x0.74x0.87x0.80x6.53x0.95x0.89x0.55x
Interest / Revenue %30.33%29.06%39.15%34.61%24.26%19.5%25.65%22.39%27.08%
Non-Operating Income-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K
Pretax Income
49M▲ 0%
116M▲ 136.7%
-104M▼ 189.7%
-54M▲ 48.1%
-63M▼ 16.7%
1.28B▲ 2134.9%
-16M▼ 101.2%
-33M▼ 106.3%
-175M▼ 430.3%
Pretax Margin %4.86%11.02%-10.08%-4.5%-4.9%107.73%-1.22%-2.41%-12.25%
Income Tax72M62M-8M8M12M222M-2M30M56M
Effective Tax Rate %146.94%53.45%7.69%-14.81%-19.05%17.32%12.5%-90.91%-32%
Net Income
-16M▲ 0%
48M▲ 400.0%
-11M▼ 122.9%
25M▲ 327.3%
51M▲ 104.0%
582M▲ 1041.2%
79M▼ 86.4%
88M▲ 11.4%
169M▲ 92.0%
Net Margin %-1.59%4.56%-1.07%2.09%3.97%48.91%6.01%6.42%11.83%
Net Income Growth %-128.07%400%-122.92%327.27%104%1041.18%-86.43%11.39%92.05%
EPS (Diluted)
-0.16▲ 0%
0.46▲ 387.5%
-0.10▼ 121.7%
0.22▲ 320.0%
0.44▲ 100.0%
4.99▲ 1034.1%
0.67▼ 86.6%
0.75▲ 11.9%
1.42▲ 89.3%
EPS Growth %-127.59%387.5%-121.74%320%100%1034.09%-86.57%11.94%89.33%
EPS (Basic)-0.160.46-0.100.220.444.990.670.751.42
Diluted Shares Outstanding99M104M109M116M117M117M117M118M119M

CWEN Balance Sheet

Clearway Energy, Inc. (CWEN) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets8.28B8.5B9.93B10.59B12.81B12.31B14.7B14.33B16.66B
Asset Growth %-1.19%2.62%16.79%6.7%20.97%-3.91%19.4%-2.53%16.23%
PP&E (Net)5.2B5.25B6.29B7.55B8.2B7.95B10.12B10.49B12.31B
PP&E / Total Assets %62.83%61.71%63.32%71.32%64%64.55%68.86%73.22%73.91%
Total Current Assets482M756M608M708M1.53B1.28B1.56B1.07B1.15B
Cash & Equivalents148M407M417M268M179M657M535M332M818M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Inventory39M40M40M42M37M47M55M64M75M
Other Current Assets168M205M33M197M1.11B365M625M507M96M
Long-Term Investments1.18B1.17B1.18B741M381M364M360M309M291M
Goodwill000000000
Intangible Assets1.23B1.16B1.43B1.37B2.5B2.56B2.37B2.19B2.29B
Other Assets63M114M103M115M107M159M284M269M436M
Total Liabilities6.14B6.28B7.66B7.88B9.51B8.28B9.71B8.77B10.74B
Total Debt5.84B5.98B7.01B7.31B8.27B7.36B8.66B7.75B10.2B
Net Debt5.69B5.58B6.6B7.05B8.09B6.7B8.13B7.42B9.38B
Long-Term Debt5.53B5.45B4.16B6.58B6.94B6.49B7.48B6.75B8.69B
Short-Term Borrowings306M535M1.83B384M772M322M558M430M708M
Capital Lease Obligations0845M1.03B345M561M548M627M569M796M
Total Current Liabilities486M704M2.06B634M1.63B617M906M718M1.02B
Accounts Payable95M64M74M89M181M77M161M113M127M
Accrued Expenses88M101M0123M138M168M136M119M0
Deferred Revenue88M101M0000000
Other Current Liabilities51M4M152M38M540M50M51M56M183M
Deferred Taxes1000K1000K1000K01000K1000K1000K1000K1000K
Other Liabilities128M-720M197M313M369M505M568M640M188M
Total Equity
2.14B▲ 0%
2.22B▲ 4.0%
2.26B▲ 1.8%
2.71B▲ 20.0%
3.3B▲ 21.5%
4.03B▲ 22.2%
4.99B▲ 23.9%
5.56B▲ 11.4%
5.91B▲ 6.3%
Equity Growth %-9.79%4.02%1.75%19.97%21.55%22.18%23.86%11.39%6.31%
Shareholders Equity1.75B1.82B1.85B1.82B1.83B2.23B2.1B2.06B1.92B
Minority Interest391M402M413M890M1.47B1.8B2.89B3.5B3.99B
Common Stock1M1M1M1M1M0001M
Additional Paid-in Capital1.84B1.9B1.94B1.92B1.87B1.76B1.73B1.8B1.72B
Retained Earnings-69M-58M-72M-84M-33M463M361M254M213M
Accumulated OCI-28M-18M-15M-14M-6M9M7M3M-5M
Return on Assets (ROA)-0.19%0.57%-0.12%0.24%0.44%4.63%0.58%0.61%1.09%
Return on Equity (ROE)-0.71%2.2%-0.49%1%1.7%15.88%1.75%1.67%2.94%
Debt / Equity2.73x2.69x3.10x2.69x2.51x1.83x1.73x1.39x1.72x
Debt / Assets70.47%70.38%70.66%69.05%64.56%59.79%58.93%54.08%61.23%
Net Debt / EBITDA8.28x7.45x9.48x8.28x8.78x3.11x8.35x7.38x8.84x
Book Value per Share21.621.3820.7623.4128.2134.4642.6847.1449.7

CWEN Cash Flow Statement

Clearway Energy, Inc. (CWEN) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations516M498M477M545M701M787M702M770M688M
Operating CF Growth %-7.86%-3.49%-4.22%14.26%28.62%12.27%-10.8%9.69%-10.65%
Operating CF / Revenue %51.14%47.29%46.22%45.45%54.51%66.13%53.42%56.16%48.15%
Net Income-23M54M-96M-62M51M582M-14M-63M169M
Depreciation & Amortization404M401M472M518M664M701M711M809M885M
Deferred Taxes72M62M-8M8M12M194M13M25M53M
Other Non-Cash Items25M24M126M75M-17M-708M62M46M-389M
Working Capital Changes-10M-30M-17M6M-9M18M-70M-47M-30M
Capital Expenditures-283M-185M-468M-124M-151M1.13B-523M-725M-319M
CapEx / Revenue %28.05%17.57%45.35%10.34%11.74%94.54%39.8%52.88%22.32%
CapEx / D&A0.70x0.46x0.99x0.24x0.23x1.60x0.74x0.90x0.36x
CapEx Coverage (OCF/CapEx)1.82x2.69x1.02x4.40x4.64x0.70x1.34x1.06x2.16x
Cash from Investing-283M-185M-468M-62M88M1.13B-523M-725M321M
Acquisitions-276M-126M-266M-37M434M1.29B-14M-678M634M
Purchase of Investments-73M-34M0000000
Sale of Investments47M45M0047M13M0015M
Other Investing24M24M26M99M-242M-70M-215M240M-9M
Cash from Financing-257M-46M-175M-435M-600M-1.57B-124M-363M-924M
Dividends Paid-108M-130M-155M-211M-268M-353M-311M-334M-358M
Dividend Payout Ratio %-495.83%-844%525.49%60.65%393.67%379.55%211.83%
Debt Issuance (Net)-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K
Stock Issued34M153M100M62M000048M
Share Repurchases000000000
Other Financing-22M77M149M157M7M-14M973M1.47B-24M
Net Change in Cash
-182M▲ 0%
267M▲ 246.7%
-166M▼ 162.2%
48M▲ 128.9%
189M▲ 293.8%
342M▲ 81.0%
55M▼ 83.9%
-318M▼ 678.2%
85M▲ 126.7%
Exchange Rate Effect000000000
Cash at Beginning498M316M583M417M465M654M996M1.05B733M
Cash at End316M583M417M465M654M996M1.05B733M818M
Free Cash Flow
233M▲ 0%
313M▲ 34.3%
9M▼ 97.1%
421M▲ 4577.8%
550M▲ 30.6%
1.91B▲ 247.6%
179M▼ 90.6%
45M▼ 74.9%
369M▲ 720.0%
FCF Growth %-41.6%34.33%-97.12%4577.78%30.64%247.64%-90.64%-74.86%720%
FCF Margin %23.09%29.72%0.87%35.11%42.77%160.67%13.62%3.28%25.82%
FCF / Net Income %-1456.25%652.08%-81.82%1684%1078.43%328.52%226.58%51.14%218.34%

CWEN Key Ratios

Clearway Energy, Inc. (CWEN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)2.23%-0.71%2.2%-0.49%1%1.7%15.88%1.75%1.67%2.94%
EBITDA Margin58.47%68.09%71.04%67.44%70.98%71.7%181.01%74.12%73.3%74.25%
Net Debt / EBITDA9.03x8.28x7.45x9.48x8.28x8.78x3.11x8.35x7.38x8.84x
Interest Coverage1.00x1.16x1.38x0.74x0.87x0.80x6.53x0.95x0.89x0.55x
CapEx / Revenue15.77%28.05%17.57%45.35%10.34%11.74%94.54%39.8%52.88%22.32%
Dividend Payout Ratio303.51%-495.83%-844%525.49%60.65%393.67%379.55%211.83%
Debt / Equity2.41x2.73x2.69x3.10x2.69x2.51x1.83x1.73x1.39x1.72x
EPS Growth45%-127.59%387.5%-121.74%320%100%1034.09%-86.57%11.94%89.33%

CWEN SEC Filings & Documents

Clearway Energy, Inc. (CWEN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 1, 2026·SEC

Material company update

Apr 2, 2026·SEC

Material company update

Mar 9, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 25, 2025·SEC

10-Q Quarterly Reports

5
FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 1, 2025·SEC

CWEN Frequently Asked Questions

Clearway Energy, Inc. (CWEN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Clearway Energy, Inc. (CWEN) reported $1.43B in revenue for fiscal year 2025. This represents a 771% increase from $164.0M in 2011.

Clearway Energy, Inc. (CWEN) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, Clearway Energy, Inc. (CWEN) is profitable, generating $169.0M in net income for fiscal year 2025 (11.8% net margin).

Dividend & Returns

Yes, Clearway Energy, Inc. (CWEN) pays a dividend with a yield of 7.73%. This makes it attractive for income-focused investors.

Clearway Energy, Inc. (CWEN) has a return on equity (ROE) of 2.9%. This is below average, suggesting room for improvement.

Clearway Energy, Inc. (CWEN) generated $268.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Clearway Energy, Inc. (CWEN) has a dividend payout ratio of 212%. The high payout ratio may limit dividend growth.

Explore More CWEN

Clearway Energy, Inc. (CWEN) 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

→

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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