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Clearway Energy, Inc.

CWEN Utilities Utilities Renewable

Clearway Energy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 4.23% from fiscal 2024.

Revenue
+22.7%
EPS
−4,600.0%
Free cash flow
+13.0%
Total debt
+4.02%

Quarter to June 2026, against a year earlier

34.20 1.51 −4.23%
Market cap
$7.0B
P/E
855×
Fwd P/E
−119×
Dividend yield
5.43%
F-score
4/9
Altman Z
0.36
Beneish M
−2.73
Dividend safety
16/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.76%

Capital & Financial Ratios $m

Size
Market Cap 7,040.00
Revenue ttm 1,574.00
Net income ttm (177.00)
Free cash flow ttm 671.00
Net debt Q 8,518.00
Valuation
P/E 855.00 (above 35: high)
Forward P/E (119.00) (negative: loss-making)
Price / sales 2.63
Forward P/S Powerpack
Price / FCF 6.17
Price / book 0.76
Financial health
Current ratio Q 1.21
Debt / equity Q 1.66
Interest coverage Q 1.10
Growth
Revenue growth Q +22.70% (above 0%: growing)
Operating income growth Q +36.47% (above 0%: growing)
EPS, this year −108.69% (below 0%: weak)
EPS, next year A +672.42% (at or above 15%: strong)
Revenue, next year A +17.91% (at or above 10%: strong)
EPS, past 5 yrs +45.41% (at or above 15%: strong)
EPS, next 5 yrs A −11.96% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.0×, against a ten-year median of 7.6×; over the ten years it ranged from 5.8× in 2016 to 9.3× in 2021.
P/E against its own 10 years 97.07%
10-year low 10-year high
P/S against its own 10 years 65.93%
10-year low 10-year high
P/B against its own 10 years 43.09%
10-year low 10-year high
EV/Sales against its own 10 years 67.18%
10-year low 10-year high
EV/FCF against its own 10 years 43.05%
10-year low 10-year high

Dividends raised 6 years running

Yield
5.43%
Annual rate
1.86
Payout ratio
4,639.0%
Growth, 2017–25
+6.14%/yr
  1. 1.10 ’17
  2. 1.26 ’18 +15
  3. 0.80 ’19 −36
  4. 1.05 ’20 +31
  5. 1.33 ’21 +26
  6. 1.43 ’22 +8
  7. 1.54 ’23 +8
  8. 1.65 ’24 +7
  9. 1.77 ’25 +7
  10. 1.88 ’26e +6
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,051 733 818 543
Receivables 345 164 163 —
Inventory 55 64 75 88
Other 109 106 96 133
1,560 1,067 1,152 1,062
2023 2024 2025 Q'26
Payables 161 113 127 —
ST’ Debt 558 430 708 570
Other 51 56 52 14
906 718 1,018 880

Compound Annual Growth %

10y 5y 3y
Sales 3.97% 3.57% 6.29%
Cash Flow 4.93% 4.77% (4.38%)
Earnings 17.74% 46.55% (33.78%)
Book Value 7.82% 16.44% 13.01%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.24 Actual 1.00

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.32 2.00 Beat by 1.68
Q4 FY25 −0.21 −0.89 Miss by 0.68
Q1 FY26 −0.45 −1.35 Miss by 0.90
Q2 FY26 0.24 1.00 Beat by 0.76
Q3 FY26 0.46 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (1.35) — — — —
’25 0.03 0.28 2.00 (0.89) 1.43
’24 (0.02) 0.43 0.31 0.03 0.75
’23 0.00 0.33 0.03 0.32 0.67
’22 (0.28) 4.89 0.28 0.10 4.99
’21 0.03 0.30 0.18 (0.07) 0.44
’20 (0.26) 0.41 0.27 (0.21) 0.22
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 354 481 — — —
’25 298 392 429 310 1,429
’24 263 366 486 256 1,371
’23 288 406 371 249 1,314
’22 214 368 340 268 1,190
’21 237 380 351 318 1,286
’20 258 329 332 280 1,199
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 401 214 — — —
’25 95 191 225 177 688
’24 81 196 301 192 770
’23 75 134 287 206 702
’22 93 186 328 180 787
’21 47 194 288 172 701
’20 84 100 257 104 545
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 326 130 — — —
’25 39 115 144 71 369
’24 (17) 92 266 142 483
’23 (13) 113 253 137 490
’22 46 152 314 163 675
’21 (32) 159 257 145 529
’20 44 57 245 75 421
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 4.8% a year for ten years. It grew −1.2% a year over the last ten.

Implied
4.8%
10 years, reported
−1.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,035 1,009 1,053 1,032 1,199 1,286 1,190 1,314 1,371 1,429 1,574 +3.6% 1,685 1,812 2,027 +12.4%
Gross margin, % 70.24 67.69 68.95 67.34 69.47 64.93 63.45 64.00 63.46 62.91 64.42 (7.3) pt
EBT 1 48 116 (104) (54) (63) 1,282 (16) (33) (175) (131) n/m
EBT margin, % 0.10 4.76 11.02 (10.08) (4.50) (4.90) 107.73 (1.22) (2.41) (12.25) (8.32) (12.3) pt
Net income 2 (24) 54 (96) (62) (75) 1,060 (14) (63) (231) (177) n/m
Per share, $
Per share, $ Revenue 10.56 10.19 10.13 9.47 10.43 10.99 10.17 11.23 11.62 12.01 0.00 +1.4%
Earnings 0.58 (0.24) 0.46 (0.10) 0.22 0.44 4.99 0.67 0.75 1.43 0.04 +10.5%
Cash flow 5.89 5.22 4.79 4.38 4.74 5.99 6.73 6.00 6.53 5.78 0.00 (0.2%)
Capex (0.20) (1.92) (0.80) (2.09) (1.08) (1.47) (0.96) (1.81) (2.43) (2.68) 0.00 +33.1%
Free cash flow 5.68 3.30 3.99 2.28 3.66 4.52 5.77 4.19 4.09 3.10 0.00 (6.5%)
Book value 26.52 21.81 21.38 20.76 23.61 28.21 34.41 42.68 47.15 48.83 0.00 +7.0%
Shares, m 98 99 104 109 115 117 117 117 118 119 119 +2.2%
Valuation, ×
Valuation, × P/E 25.32 0.00 50.74 0.00 152.05 81.89 6.42 39.99 34.67 23.42 855.00 41.4
P/S 1.49 1.90 1.70 2.11 3.06 3.28 3.15 2.42 2.24 2.77 2.63 2.4
P/B 0.59 0.89 0.81 0.96 1.35 1.28 0.93 0.64 0.55 0.68 0.76 0.9
EV/Sales 6.86 7.53 6.83 8.27 8.49 8.77 8.04 7.74 6.94 8.22 8.04 7.8
EV/FCF 12.74 23.25 17.33 34.29 24.17 21.31 14.17 20.75 19.70 31.83 18.86 22.0
Cash, $m
Cash, $m Operating cash flow 577 517 498 477 545 701 787 702 770 688 1,017 +2.0%
Capex (20) (190) (83) (228) (124) (172) (112) (212) (287) (319) (346) +36.0%
Free cash flow 557 327 415 249 421 529 675 490 483 369 671 (4.5%)
Balance, $m
Balance, $m Working capital 165 (58) 52 (1,449) 74 (100) 659 654 349 134 182 (2.3%)
Net debt 5,560 5,682 5,399 6,363 6,504 7,057 5,817 6,986 6,447 7,788 8,518 +3.8%
Shareholders’ equity 2,599 2,159 2,224 2,263 2,715 3,300 4,026 4,994 5,564 5,811 5,473 +9.4%
Returns, %
Returns, % ROA 0.65 (0.18) 0.57 (0.12) 0.25 0.44 4.63 0.58 0.61 1.09 0.00 +0.4 pt
ROIC 1.70 2.26 2.85 1.62 2.26 1.61 9.33 1.37 1.02 0.74 0.94 (1.0) pt
ROE 2.14 (0.67) 2.19 (0.49) 1.00 1.70 15.89 1.75 1.67 2.97 0.00 +0.8 pt
People
People Employees — — 269 307 301 304 58 61 60 — — (22.1%)
Revenue/emp, $m 0.00 0.00 3.91 3.36 3.98 4.23 20.52 21.54 22.85 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 3 Nov 2026

Business profile

Updated

Clearway Energy, Inc. owns and invests in power generation and energy storage facilities. It sells electricity, generation capacity and environmental attributes, such as renewable energy certificates, primarily under long-term contracts. Its customers include utilities and commercial and industrial businesses, as well as customers served by distributed solar facilities.

Its portfolio includes utility-scale wind and solar farms, battery energy storage and combustion-based plants that can be dispatched when needed. The flexible plants provide grid reliability services. Storage facilities can provide grid services as well as support the renewable generation portfolio.

Clearway Energy, Inc. vs peers in Utilities Renewable (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BEP Brookfield Renewable Partners L.P. $9.2B — (loss-making) — (loss-making) +11.52% (above 0%: growing) n/m +250.13% (above 0%: growing) 59.97% 27.51% Compare
ENLT Enlight Renewable Energy Ltd. $9.1B 87.5× — +40.18% (above 0%: growing) +33.22% (above 0%: growing) −54.32% (below 0%: shrinking) 52.30% 39.40% Compare
CWEN Clearway Energy, Inc. $7.0B 855× — (loss-making) +22.70% (above 0%: growing) n/m +13.04% (above 0%: growing) 69.02% 24.12%
ENIC Enel Chile S.A. $5.9B 10.0× — +1.00% (above 0%: growing) +14.37% (above 0%: growing) +190.61% (above 0%: growing) 36.72% 18.40% Compare
BEPC Brookfield Renewable Corporation $5.8B — (loss-making) — (loss-making) +19.78% (above 0%: growing) n/m +116.56% (above 0%: growing) 61.84% 32.69% Compare
ORA Ormat Technologies, Inc. $5.7B 42.4× 42.6× +10.17% (above 0%: growing) +30.00% (above 0%: growing) +197.66% (above 0%: growing) 28.12% 16.45% Compare
MWH SOLV Energy Inc. $4.8B — — — — — 14.68% 7.33% Compare
RNW ReNew Energy Global PLC $2.5B 18.8× 26.5× +19.35% (above 0%: growing) +41.31% (above 0%: growing) +192.68% (above 0%: growing) 80.50% 20.27% Compare
FRVO Fervo Energy Company $2.3B — (loss-making) — (loss-making) — n/m — (170.80%) (25,435.40%) Compare
Median of peers $5.8B 30.6× — +15.44% +31.61% +191.65% 44.51% 19.34%

All 24 Utilities Renewable stocks →

From the latest earnings call

Updated

  • CEO Craig Cornelius said Clearway expects to deploy $3 billion of corporate capital from 2026 to 2029 as it pursues growth investments.
  • CFO Sarah Rubenstein said wind resource and availability were below budget in some regions during the first quarter, with the greatest impact at Alta.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 49.76%
Held by the ten largest 31.43%
Holder Shares Stake Change
BlackRock 18.40m 8.96% +4.48m
Vanguard 13.74m 6.69% +4.24m
Franklin Templeton 7.09m 3.46% +337.66k
Neuberger Berman 4.62m 2.25% +152.73k
Charles Schwab 4.36m 2.12% +3.16m
State Street 4.12m 2.00% +1.37m
Morgan Stanley 3.61m 1.76% +561.49k
BNY 3.17m 1.55% +662.03k
Invesco 3.10m 1.51% +622.39k
Geode Capital Management 2.32m 1.13% +738.93k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Clearway Energy, Inc. (CWEN) Latest News

28 Oct

Impact 4 · · Zacks

22 Oct

Impact 3 · · Zacks
Impact 3 · · Simply Wall St.

20 Oct

Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

14 Oct

Impact 3 · · Zacks

8 Oct

Impact 3 · · Zacks

24 Sep

Impact 3 · · Zacks

18 Sep

Impact 3 ·

16 Sep

Impact 4 ·

6 Aug

Impact 3 ·
Impact 3 · · MarketBeat transcript

5 Aug

Impact 3 ·
Impact 3 ·

18 Jul

Impact 3 ·
Impact 3 ·

10 Jul

Impact 3 ·

19 Jun

Impact 3 ·

11 May

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

9 May

Impact 4 · · MarketBeat

8 May

Impact 3 · · Zacks

7 May

Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

4 May

Impact 4 · · Simply Wall St.

2 May

Impact 3 · · MarketBeat

1 May

Impact 4 · · Simply Wall St.

25 Apr

Impact 4 · · Simply Wall St.

22 Apr

Impact 4 · · Insider Monkey

16 Apr

Impact 3 · · GlobeNewswire

CWEN metrics, ten years each

stockrow.com/CWEN · Data as of Nov 3, 2026 · For information only; not investment advice. · © 2026 stockrow.com