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

38.74 0.94 −2.37%

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

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Columns are period end dates · fundamentals updated 6 Nov 2026

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