HA Sustainable Infrastructure Capital, Inc. (HASI) Revenue History
Annual and quarterly revenue from 2011 to present
HASI Revenue Over Time (2011–2025)
HASI Revenue Growth History
11 of 14 years with positive growth- FY2011 revenue growth
- N/A
- FY2012 revenue growth
- +1193.1%
- FY2013 revenue growth
- -4.6%
- FY2014 revenue growth
- +88.0%
- FY2015 revenue growth
- +29.4%
- FY2016 revenue growth
- +49.0%
- FY2017 revenue growth
- +46.9%
- FY2018 revenue growth
- +25.9%
- FY2019 revenue growth
- +27.4%
- FY2020 revenue growth
- +14.2%
- FY2021 revenue growth
- +44.6%
- FY2022 revenue growth
- -20.2%
- FY2023 revenue growth
- +70.0%
- FY2024 revenue growth
- +37.0%
- FY2025 revenue growth
- -36.6%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $124.2M | — |
| Q4 2025 | $114.8M | — |
| Q3 2025 | $227.6M | — |
| Q2 2025 | $243.4M | — |
| Q1 2025 | $184.9M | — |
| Q4 2024 | $187.2M | — |
| Q3 2024 | $58.6M | — |
| Q2 2024 | $121.4M | — |
Multi-year avg. share of annual revenue by fiscal quarter
HASI Revenue Analysis (2011–2025)
Current Revenue & Growth
As of June 21, 2026, HA Sustainable Infrastructure Capital, Inc. (HASI) generated trailing twelve-month (TTM) revenue of $710.0 million, reflecting significant decline in growth of -32.8% year-over-year. The most recent quarter (Q1 2026) recorded $124.2 million in revenue, up 8.2% sequentially.
Historical Growth Trajectory
HASI's 5-year compound annual growth rate (CAGR) stands at +11.3%, indicating consistent double-digit revenue growth. The 3-year CAGR of +13.9% exceeds the 5-year average, indicating an acceleration in the most recent period. HA Sustainable Infrastructure Capital, Inc.'s highest annual revenue of $631.5 million was recorded in 2024.
Peer Comparison
Compared to Financial Services sector peers — including CSWC, ARCC, and GBDC — HASI has underperformed the peer group in revenue growth. Compare HASI vs CSWC →
HASI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HASICurrent | $710M | -32.8% | +11.3% | 66.2% | |
 CSWC | $246M | - | - | 76.9% | |
 ARCC | $3.1B | - | - | 69.7% | |
 GBDC | $871M | - | - | 78.9% | |
 TPVG | $97M | - | - | 77.9% | |
 BEP | $6.5B | +9.4% | +11.3% | 13.4% |
HASI Historical Revenue Data (2011–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $400.5M | - | $398.9M | 99.6% | $265.2M | 66.2% |
| 2024 | $631.5M | - | $389.1M | 61.6% | $273.8M | 43.4% |
| 2023 | $460.8M | - | $289.8M | 62.9% | $182.4M | 39.6% |
| 2022 | $271.0M | - | $155.5M | 57.4% | $49.3M | 18.2% |
| 2021 | $339.6M | - | $217.9M | 64.2% | $144.5M | 42.6% |
| 2020 | $234.9M | - | $142.7M | 60.8% | $80.0M | 34.1% |
| 2019 | $205.8M | - | $141.5M | 68.8% | $90.0M | 43.7% |
| 2018 | $161.6M | - | $84.7M | 52.4% | $43.9M | 27.2% |
| 2017 | $128.3M | - | $62.8M | 49.0% | $31.9M | 24.9% |
| 2016 | $87.3M | - | $42.1M | 48.2% | $14.9M | 17.1% |
| 2015 | $58.6M | - | $32.2M | 55.0% | $8.2M | 13.9% |
| 2014 | $45.3M | - | $28.6M | 63.2% | $9.8M | 21.6% |
| 2013 | $24.1M | - | $14.3M | 59.3% | $-12,885,000 | -53.5% |
| 2012 | $25.3M | - | $15.4M | 61.0% | $3.8M | 15.1% |
| 2011 | $2.0M | - | $2.0M | 100.0% | $0 | - |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
15+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
HASI — Frequently Asked Questions
Quick answers to the most common questions about buying HASI stock.
Is HASI's revenue growth accelerating or slowing?
HASI revenue is declining -32.8% year-over-year. TTM revenue fell to $710M, contrasting with the 5-year CAGR of +11.3%. The reversal reflects either macro headwinds or company-specific challenges.
What is HASI's revenue history from 2011 to 2026?
HA Sustainable Infrastructure Capital, Inc. (HASI) revenue history spans 2011 to 2026. TTM revenue as of 2026 is $710M, growing at -32.8% YoY. The 5-year CAGR is +11.3%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is HASI's long-term revenue growth rate (CAGR)?
HA Sustainable Infrastructure Capital, Inc.'s 5-year revenue CAGR of +11.3% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -32.8% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for HASI.
Why does HASI's quarterly revenue fluctuate?
HASI quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. HA Sustainable Infrastructure Capital, Inc.'s revenue data from 2011 to 2026 shows full historical quarterly detail on this page.
How is HASI's revenue distributed by segment?
HASI reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does HASI's revenue compare to industry peers?
HA Sustainable Infrastructure Capital, Inc. (HASI) with TTM revenue of $710M and -32.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.