
HA Sustainable Infrastructure Capital, Inc.
NYSE•HASI
CEO: Mr. Jeffrey Walter Eckel
Sector: Financial Services
Industry: Financial - Diversified
Listing Date: 2013-04-18
HA Sustainable Infrastructure Capital, Inc., through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, commercial and government receivables, real estate, and debt securities. It invests in climate solution, including Behind-the-Meter that distributes energy projects which reduce energy usage or cost through heating, ventilation, and air conditioning systems, as well as lighting, energy controls, roofs, windows, building shells, and/or combined heat and power systems; Grid-Connected, a renewable energy projects that deploy cleaner energy sources, such as solar, solar-plus-storage, and wind to generate power production; and Fuels, Transport, and Nature, a range of real assets spanning high-emitting economic sectors other than the power grid such as transportation and fuels comprising renewable natural gas plants, transportation fleet enhancements, ecological restoration, and other projects. The company was formerly known as Hannon Armstrong Sustainable Infrastructure Capital, Inc. and changed its name to HA Sustainable Infrastructure Capital, Inc. in June 2024. HA Sustainable Infrastructure Capital, Inc. was founded in 1981 and is headquartered in Annapolis, Maryland.
Contact Information
Market Cap
$4.29B
P/E (TTM)
13.8
0
Dividend Yield
4.9%
52W High
$34.63
52W Low
$21.98
52W Range
Rank49Top 66.7%
3.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q3 2025 Data
Revenue
$227.62M+177.71%
4-Quarter Trend
EPS
$0.66-488.23%
4-Quarter Trend
FCF
-$121.81M-655.15%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Q3 Net Income Reverses Sharply Net income attributable to controlling stockholders $83.3M for three months ended Sep 30, 2025, compared to $(19.6M) loss in 2024.
Revenue Growth Accelerates Total revenue reached $103.1M for the quarter, marking a 26% increase from $82.0M reported in the prior year period.
Equity Income Drives 9M Profit Income from equity method investments totaled $370.2M for nine months, boosting net income to $242.9M, an 84% increase.
Strong Liquidity Position Maintained Total liquidity available reached $1.14B, comprising $302M cash and $804M unused revolving credit capacity as of September 30, 2025.
Risk Factors
Negative Operating Cash Flow Net cash used in operating activities was $(79.4M) for nine months, a significant shift from $18.1M provided in the comparable 2024 period.
Receivables Allowance Increased Allowance for loss on receivables increased by $3M during the quarter, resulting in a total allowance of $58M as of September 30, 2025.
High Investment Spending Investing activities used $(511.0M) cash over nine months, reflecting substantial deployment into new receivables and equity method investments.
Recourse Debt Maturity Profile Significant long-term recourse debt maturities are concentrated between 2026 and 2035, requiring active refinancing management.
Outlook
Debt Issuance and Repurchase Issued $1.0B in Senior Unsecured Notes in June 2025, funding tender offer repurchases of $700M in older notes.
Strong Transaction Pipeline Pipeline of potential new opportunities exceeds $6.0B, focused primarily on BTM (39%) and GC (38%) asset classes.
Credit Facility Expansion Increased unsecured revolving credit facility capacity to $1.55B in Q1 2025 by adding two new syndicate lenders.
New Term Loan Agreement Entered agreement for up to $250M delayed-draw term loan facility, available through June 2026, maturing in June 2028.
Peer Comparison
Revenue (TTM)
GNW$7.11B
CNO$4.44B
INTR$2.29B
Gross Margin (Latest Quarter)
176.7%
85.7%
HASI68.6%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| ASB | $4.32B | 24.4 | 3.7% | 9.5% |
| HASI | $4.29B | 13.8 | 12.5% | 63.2% |
| CNO | $4.02B | 14.4 | 11.6% | 10.6% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
31.0%
Strong Growth
4Q Net Income CAGR
5.9%
Profitability Improving
Cash Flow Stability
25%
Cash Flow Needs Attention
Research & Insights
Next earnings:Feb 12, 2026
EPS:$0.67
|Revenue:-
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Nov 7, 2025|Revenue: $227.62M+177.7%|EPS: $0.66-488.2%MissForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 8, 2025|Revenue: $243.37M+157.5%|EPS: $0.80+247.8%BeatForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 8, 2025|Revenue: $184.93M+74.8%|EPS: $0.47-56.5%MissForm 10-K/A - FY 2024
Period End: Dec 31, 2024|Filed: Mar 28, 2025|Revenue: $631.47M+37.0%|EPS: $1.72+18.6%BeatForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 14, 2025|Refer to amended dataForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 8, 2024|Revenue: $81.97M-8.8%|EPS: $-0.17-185.0%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 2, 2024|Revenue: $94.52M+27.2%|EPS: $0.23+64.3%MissForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 8, 2024|Revenue: $105.82M+53.1%|EPS: $1.08+315.4%Beat