Clearway Energy, Inc. (CWEN) Financial Ratios
15 years of historical data (2011–2025) · Utilities · Renewable Utilities
EV/EBITDA
↓
16.30
↑+54% vs avg
5yr avg: 10.57
30Y Low4.8·High13.3
P/FCF
↑
21.43
+1% vs avg
5yr avg: 21.29
30Y Low2.0·High68.2
P/B Ratio
↓
0.77
-5% vs avg
5yr avg: 0.81
30Y Low0.5·High1.4
ROE
↑
2.9%
↑-38% vs avg
5yr avg: 4.8%
30Y Low-1%·High16%
Debt/EBITDA
↑
9.61
↑+24% vs avg
5yr avg: 7.72
30Y Low3.4·High14.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CWEN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Clearway Energy, Inc. trades at 27.1x earnings, 28% below its 5-year average of 37.5x, sitting at the 18th percentile of its historical range. Compared to the Utilities sector median P/E of 19.8x, the stock trades at a premium of 37%. On a free-cash-flow basis, the stock trades at 21.4x P/FCF, roughly in line with the 5-year average of 21.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $7.9B | $4.0B | $3.1B | $3.2B | $3.7B | $4.2B | $3.7B | $2.2B | $1.8B | $1.9B | $1.5B |
| Enterprise Value | $17.3B | $13.3B | $10.5B | $11.3B | $10.4B | $12.3B | $10.7B | $8.8B | $7.4B | $7.6B | $6.9B |
| P/E Ratio → | 27.11 | 23.42 | 34.67 | 40.94 | 6.39 | 81.89 | 145.14 | — | 37.50 | — | 27.24 |
| P/S Ratio | 5.53 | 2.77 | 2.24 | 2.44 | 3.13 | 3.28 | 3.09 | 2.11 | 1.70 | 1.85 | 1.52 |
| P/B Ratio | 0.77 | 0.67 | 0.55 | 0.64 | 0.92 | 1.28 | 1.36 | 0.96 | 0.81 | 0.88 | 0.65 |
| P/FCF | 21.43 | 10.73 | 68.18 | 17.93 | 1.95 | 7.66 | 8.80 | 241.62 | 5.73 | 8.03 | 3.88 |
| P/OCF | 11.50 | 5.75 | 3.98 | 4.57 | 4.74 | 6.01 | 6.80 | 4.56 | 3.60 | 3.63 | 2.77 |
P/E links to full P/E history page with 30-year chart
CWEN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Clearway Energy, Inc.'s enterprise value stands at 16.3x EBITDA, 54% above its 5-year average of 10.6x. The Utilities sector median is 11.3x, placing the stock at a 44% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.33 | 7.65 | 8.63 | 8.77 | 9.57 | 8.97 | 8.50 | 7.00 | 7.49 | 6.80 |
| EV / EBITDA | 16.30 | 12.57 | 10.43 | 11.64 | 4.84 | 13.35 | 12.63 | 12.60 | 9.85 | 11.00 | 11.62 |
| EV / EBIT | 98.23 | 62.91 | 38.27 | 35.32 | 6.89 | 49.43 | 29.78 | 29.24 | 17.42 | 21.30 | 24.35 |
| EV / FCF | — | 36.15 | 233.00 | 63.34 | 5.46 | 22.38 | 25.53 | 974.62 | 23.54 | 32.45 | 17.39 |
CWEN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Clearway Energy, Inc. earns an operating margin of 12.3%, below the Utilities sector average of 19.9%. Operating margins have compressed from 20.0% to 12.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 2.9% is modest, trailing the sector median of 9.4%. ROIC of 0.9% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.2% | 15.2% | 63.5% | 64.0% | 63.4% | 64.9% | 69.5% | 67.3% | 68.5% | 67.7% | 70.0% |
| Operating Margin | 12.3% | 12.3% | 14.3% | 20.0% | 123.5% | 20.8% | 27.8% | 21.7% | 33.0% | 28.0% | 21.4% |
| Net Profit Margin | 11.8% | 11.8% | 6.4% | 6.0% | 48.9% | 4.0% | 2.1% | -1.1% | 4.6% | -1.6% | 5.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.9% | 2.9% | 1.7% | 1.8% | 15.9% | 1.7% | 1.0% | -0.5% | 2.2% | -0.7% | 2.2% |
| ROA | 1.1% | 1.1% | 0.6% | 0.6% | 4.6% | 0.4% | 0.2% | -0.1% | 0.6% | -0.2% | 0.7% |
| ROIC | 0.9% | 0.9% | 1.1% | 1.7% | 10.0% | 1.9% | 2.7% | 2.0% | 3.3% | 2.7% | 2.0% |
| ROCE | 1.2% | 1.2% | 1.4% | 2.1% | 12.9% | 2.5% | 3.7% | 2.9% | 4.5% | 3.6% | 2.7% |
CWEN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Clearway Energy, Inc. carries a Debt/EBITDA ratio of 9.6x, which is highly leveraged (102% above the sector average of 4.8x). Net debt stands at $9.4B ($10.2B total debt minus $818M cash). Interest coverage of just 0.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.72 | 1.72 | 1.39 | 1.73 | 1.83 | 2.51 | 2.69 | 3.10 | 2.69 | 2.73 | 2.41 |
| Debt / EBITDA | 9.61 | 9.61 | 7.71 | 8.90 | 3.42 | 8.97 | 8.59 | 10.08 | 8.00 | 8.50 | 9.56 |
| Net Debt / Equity | — | 1.59 | 1.33 | 1.63 | 1.66 | 2.45 | 2.60 | 2.92 | 2.51 | 2.66 | 2.27 |
| Net Debt / EBITDA | 8.84 | 8.84 | 7.38 | 8.35 | 3.11 | 8.78 | 8.28 | 9.48 | 7.45 | 8.28 | 9.03 |
| Debt / FCF | — | 25.42 | 164.82 | 45.41 | 3.51 | 14.71 | 16.74 | 733.00 | 17.81 | 24.42 | 13.51 |
| Interest Coverage | 0.55 | 0.55 | 0.89 | 0.95 | 6.53 | 0.80 | 0.87 | 0.74 | 1.38 | 1.16 | 1.00 |
CWEN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.13x means Clearway Energy, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.72x to 1.13x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.13 | 1.13 | 1.49 | 1.72 | 2.07 | 0.94 | 1.12 | 0.30 | 1.07 | 0.99 | 1.41 |
| Quick Ratio | 1.06 | 1.06 | 1.40 | 1.66 | 1.99 | 0.92 | 1.05 | 0.28 | 1.02 | 0.91 | 1.32 |
| Cash Ratio | 0.80 | 0.80 | 0.46 | 0.59 | 1.06 | 0.11 | 0.42 | 0.20 | 0.58 | 0.30 | 0.69 |
| Asset Turnover | — | 0.09 | 0.10 | 0.09 | 0.10 | 0.10 | 0.11 | 0.10 | 0.12 | 0.12 | 0.12 |
| Inventory Turnover | 16.16 | 16.16 | 7.83 | 8.60 | 9.26 | 12.19 | 8.71 | 8.43 | 8.30 | 8.36 | 7.85 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CWEN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Clearway Energy, Inc. returns 7.8% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 211.8%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 3.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 7.8% | 9.0% | 10.9% | 9.7% | 9.5% | 6.4% | 5.7% | 7.1% | 13.3% | 10.8% | 11.2% |
| Payout Ratio | 211.8% | 211.8% | 379.5% | 393.7% | 60.7% | 525.5% | 844.0% | — | 495.8% | — | 303.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 4.3% | 2.9% | 2.4% | 15.7% | 1.2% | 0.7% | — | 2.7% | — | 3.7% |
| FCF Yield | 4.7% | 9.3% | 1.5% | 5.6% | 51.3% | 13.0% | 11.4% | 0.4% | 17.4% | 12.5% | 25.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 7.8% | 9.0% | 10.9% | 9.7% | 9.5% | 6.4% | 5.7% | 7.1% | 13.3% | 10.8% | 11.2% |
| Shares Outstanding | — | $119M | $118M | $117M | $117M | $117M | $116M | $109M | $104M | $99M | $98M |
Peer Comparison
Compare CWEN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CWENYou | $8B | 27.1 | 16.3 | 21.4 | 15.2% | 12.3% | 2.9% | 0.9% | 9.6 |
 BEP | $11B | -511.7 | 13.2 | — | 16.8% | 13.4% | -0.1% | 0.9% | 10.7 |
 BEPC | $5B | -2.9 | 7.7 | — | 59.9% | 56.9% | -18.9% | 5.4% | 6.3 |
 NEE | $199B | 29.0 | 19.0 | — | 62.8% | 30.1% | 10.7% | 4.1% | 6.2 |
 AES | $10B | 11.4 | 11.2 | — | 18.1% | 16.1% | 9.7% | 3.9% | 8.8 |
 RUN | $3B | 7.5 | — | — | -9.9% | -4.3% | 12.3% | -0.6% | — |
 ARRY | $1B | -11.1 | — | — | 23.2% | -2.3% | -19.0% | -5.9% | — |
 ORA | $7B | 56.9 | 15.7 | — | 27.6% | 18.5% | 3.3% | 2.7% | 1.5 |
 ENPH | $5B | 27.8 | 22.4 | 49.2 | 46.6% | 11.2% | 17.9% | 6.8% | 5.1 |
 SEDG | $2B | -5.9 | — | 29.9 | 15.3% | -24.1% | -74.7% | -29.5% | — |
 FSLR | $23B | 15.3 | 9.5 | 19.7 | 40.6% | 32.3% | 17.4% | 17.6% | 0.2 |
| Utilities Median | — | 19.8 | 11.3 | 15.1 | 40.9% | 19.9% | 9.4% | 4.8% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonCWEN — Frequently Asked Questions
Quick answers to the most common questions about buying CWEN stock.
What is Clearway Energy, Inc.'s P/E ratio?
Clearway Energy, Inc.'s current P/E ratio is 27.1x. The historical average is 53.4x. This places it at the 18th percentile of its historical range.
What is Clearway Energy, Inc.'s EV/EBITDA?
Clearway Energy, Inc.'s current EV/EBITDA is 16.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.1x.
What is Clearway Energy, Inc.'s ROE?
Clearway Energy, Inc.'s return on equity (ROE) is 2.9%. The historical average is 2.6%.
Is CWEN stock overvalued?
Based on historical data, Clearway Energy, Inc. is trading at a P/E of 27.1x. This is at the 18th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Clearway Energy, Inc.'s dividend yield?
Clearway Energy, Inc.'s current dividend yield is 7.82% with a payout ratio of 211.8%.
What are Clearway Energy, Inc.'s profit margins?
Clearway Energy, Inc. has 15.2% gross margin and 12.3% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Clearway Energy, Inc. have?
Clearway Energy, Inc.'s Debt/EBITDA ratio is 9.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.