Friday 6 November 2026 Export HASI’s income statement to Excel — free account

HA Sustainable Infrastructure Capital, Inc.

HA Sustainable Infrastructure Capital, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $400.5 million, up 4.41% from fiscal 2024.

Revenue: +11.1%
EPS: +72.7%
Free cash flow: −14.5%
Total debt: +24.4%

Quarter to September 2026, against a year earlier

38.88 0.80 −2.02%

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Market cap: $5.1B
P/E: 35.0×
Fwd P/E: 24.0×
Dividend yield: 4.25%
F-score: 2/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	54.63	41.40	25.19	25.34	56.13	34.49	58.04	19.61	15.51	20.95
Piotroski F-Score Full definition →	7	4	6	3	4	4	2	5	4	2
P/S ratio Full definition →	9.49	11.41	7.21	14.53	24.57	19.93	10.38	8.74	8.08	9.65
P/FCF ratio Full definition →	19.67	0.00	312.84	0.00	259.37	0.00	0.00	30.80	25.49	13.65
P/Operating CF Full definition →	131.69	(124.13)	34.67	(980.84)	214.36	(507.25)	(39.04)	380.41	(254.05)	15.67
P/B ratio Full definition →	1.34	1.88	1.25	2.19	3.79	2.71	1.49	1.31	1.29	1.45
Price to Tangible BV Full definition →	1.42	1.98	1.30	3.57	5.43	3.53	1.91	1.57	1.52	1.50
EV/Sales Full definition →	21.14	24.35	15.97	24.32	34.75	30.57	22.14	21.82	19.21	22.23
EV/EBITDA Full definition →	27.82	29.23	19.54	34.40	47.90	42.06	35.57	30.55	25.74	31.65
EV/Operating CF Full definition →	30.19	220.22	37.86	116.78	88.62	489.59	23,078.71	70.02	1,259.39	53.22
EV/FCF Full definition →	43.83	(16.20)	692.54	(131.99)	366.85	(154.15)	(610.76)	76.90	60.60	31.45
Quick Ratio Full definition →	42.49	40.95	26.46	21.45	25.03	18.82	18.57	19.42	11.25	9.20
Current Ratio Full definition →	42.49	40.95	26.46	21.45	25.03	18.82	18.57	19.42	11.25	9.20
Net Debt/EBITDA Full definition →	15.34	15.53	10.71	13.85	14.04	14.63	18.89	18.31	14.91	17.91
Debt/Assets Full definition →	55.87%	63.48%	57.63%	58.35%	63.28%	60.10%	62.50%	64.82%	62.14%	62.89%
Debt/Equity Full definition →	1.70	2.22	1.54	1.48	1.81	1.59	1.79	1.98	1.83	1.94
Asset Turnover Full definition →	0.05	0.05	0.06	0.06	0.06	0.06	0.05	0.06	0.06	0.05
Operating CF/Net income Full definition →	4.42	0.38	1.41	0.36	0.89	0.11	0.01	0.67	0.03	0.91
Capex/Depreciation Full definition →	(2.31)	(12.98)	(1.81)	0.00	0.00	0.00	0.00	0.00	6.42	0.00
Interest Coverage Full definition →	1.19	1.15	1.28	1.40	1.35	1.15	1.16	1.24	1.11	0.91
ROE Full definition →	2.55%	5.07%	5.75%	9.35%	7.67%	9.12%	2.57%	7.82%	8.80%	7.29%
ROA Full definition →	0.80%	1.54%	1.89%	3.59%	2.82%	3.33%	0.93%	2.63%	2.93%	2.42%
ROIC Full definition →	2.22%	2.33%	3.05%	2.42%	2.49%	2.28%	1.86%	2.10%	2.51%	2.15%
Return on Tangible Assets Full definition →	1.05%	2.26%	3.21%	5.53%	4.58%	6.53%	1.68%	4.77%	7.06%	5.77%
Average Days of Receivables Full definition →	4,685.05	3,419.49	2,473.54	2,989.50	2,370.57	2,476.22	3,159.57	3,547.81	2,827.35	3,093.13
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	33.46%	29.14%	29.23%	30.70%	28.15%	34.19%	38.95%	29.90%	29.78%	30.75%
Intangible Assets out of Total Assets Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Based Compensation of Revenue Full definition →	12.38%	10.67%	7.22%	10.00%	8.98%	8.00%	8.38%	6.18%	6.68%	7.46%
Graham Net Nets Full definition →	(0.13)	(0.46)	(0.38)	(0.14)	(0.16)	(0.21)	(0.35)	(0.44)	(0.51)	(0.52)
Graham Number Full definition →	10.60	12.91	16.11	20.50	20.62	26.05	14.48	25.74	28.46	27.01
Earnings Yield Full definition →	1.83%	2.42%	3.97%	3.95%	1.78%	2.90%	1.72%	5.10%	6.45%	4.77%
Free Cash Flow Yield Full definition →	5.08%	(13.17%)	0.32%	(1.27%)	0.39%	(0.99%)	(0.35%)	3.25%	3.92%	7.32%
Revenue per Share Full definition →	2.02	2.10	2.64	2.22	2.58	2.66	2.74	3.14	3.32	3.26
Operating CF per Share Full definition →	1.41	0.23	1.11	0.46	1.01	0.17	0.00	0.98	0.05	1.36
Capex per Share Full definition →	(0.44)	(3.40)	(0.52)	0.00	0.00	0.00	0.00	0.00	1.00	0.00
Free Cash Flow per Share Full definition →	0.97	(3.16)	0.59	0.46	1.01	0.17	0.00	0.98	1.05	1.36
Cash per Share Full definition →	0.73	1.14	0.41	0.10	3.95	2.83	1.78	0.62	1.12	0.90
Shareholders Equity per Share Full definition →	14.25	12.76	15.24	14.71	16.72	19.58	19.03	21.03	20.81	21.61
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	14.25	12.76	15.24	14.71	16.72	19.58	19.03	21.03	20.81	21.61
Free Cash Flow Full definition →	39.16	(159.26)	31.24	29.49	73.28	13.31	0.23	99.69	121.62	167.32
Working Capital Full definition →	1,046.45	1,024.57	929.57	1,111.46	1,440.21	1,583.49	2,110.85	3,008.48	2,825.51	3,123.50
Capital Expenditures Full definition →	(17.69)	(170.98)	(27.55)	—	—	—	—	—	115.77	—
Net Current Asset Value Full definition →	(99.88)	(557.18)	(384.31)	(281.55)	(748.76)	(909.44)	(864.44)	(1,238.94)	(1,574.02)	(2,025.89)
EV/EBIT Full definition →	31.77	34.36	22.56	38.23	52.29	46.61	39.74	32.86	27.47	33.57
Capex to Sales Full definition →	0.22	1.61	0.20	0.00	0.00	0.00	0.00	0.00	(0.30)	0.00
Price to Operating Income Full definition →	14.26	16.10	10.19	22.83	36.97	30.40	18.63	13.16	11.55	14.57
Other line items
Depreciation/Fixed assets Full definition →	0.04	0.04	0.04	0.03	0.03	0.04	0.04	0.14	1.84	0.21
Cash ROIC Full definition →	2.48%	(7.48%)	1.51%	1.26%	1.99%	0.31%	0.00%	1.55%	1.75%	2.11%
Accounts Receivable Turnover Full definition →	0.08	0.10	0.14	0.13	0.16	0.16	0.14	0.12	0.13	0.13
Accounts Payable Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	1,017.59	1,017.59	968.80	1,052.13	1,186.76	1,330.03	1,760.70	2,592.20	3,040.27	3,182.69
Average Payables Full definition →	21.55	25.43	31.08	45.43	57.15	74.41	104.49	141.71	219.47	328.17
Average Assets Full definition →	1,607.75	1,998.03	2,202.54	2,271.09	2,923.17	3,803.69	4,454.23	5,656.25	6,816.30	7,634.11
Average Common Equity Full definition →	503.22	608.56	723.65	872.22	1,075.03	1,388.33	1,615.63	1,903.19	2,273.35	2,531.47

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Columns are period end dates · fundamentals updated 6 Nov 2026

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