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HA Sustainable Infrastructure Capital, Inc. logo

HA Sustainable Infrastructure Capital, Inc.

HASI

NYSEFinancial ServicesAsset Management

Open in GoAI

Previous close

$39.48

−$1.14 · -2.81%

Aug 21, 4:00 PM ET

Pre-market

$39.48

$0.00 · 0.00%

Aug 24, 6:13 AM ET

HASI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

46

Fair Value

Momentum

48

Neutral

Sentiment

51

Mixed

Risk resilience

66

Moderate Risk

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Company profile

Company website

HA Sustainable Infrastructure Capital, Inc. (HASI) specializes in providing financial capital and making investments in initiatives that address climate change. The company funnels its resources into projects and assets developed by businesses operating in the renewable energy, energy efficiency, and wider sustainable infrastructure sectors. HASI's investment strategy specifically targets areas such as Behind the Meter solutions, Grid-Connected projects, alternative Fuels, sustainable Transport, and Nature-based climate initiatives. The firm was established on November 7, 2012, and operates from its main office in Annapolis, MD.

Industry
Asset Management
Sector
Financial Services
Headquarters
US
CEO
Jeffrey A. Lipson
Listed since
Apr 18, 2013
Employees
170

Market position

Day range

Current $39.48

52-week range

Current $39.48

Open
$40.76
Previous close
$40.62
Volume
927K
0.92× average
Average volume
1.01M
Average daily volume
Market cap
5.05B USD
Beta
1.42
Market reference 1
50-day average
$39.0216
+1.17% above average
200-day average
$37.0255
+6.63% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
8.8B USD
P/E (TTM)
59.82×
P/B (TTM)
1.98×
P/S (TTM)
10.9×
EV / EBITDA
-333.14×
Earnings yield
4.77%
Free cash flow yield
4.33%
Dividend yield
4.28%

Profitability & efficiency

Gross margin
27.69%
Operating margin
-3.67%
Net margin
18.61%
Return on equity
7.17%
Return on assets
2.25%
Return on invested capital
-0.23%

Financial health

Debt / equity
2.32×
Current ratio
255.93×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends71%43%14%-14%Gross margin, FY2021: 64.16%Gross margin, FY2022: 57.36%Gross margin, FY2023: 62.89%Gross margin, FY2024: 61.62%Gross margin, FY2025: 26.99%Operating margin, FY2021: 42.55%Operating margin, FY2022: 18.19%Operating margin, FY2023: 39.57%Operating margin, FY2024: 43.36%Operating margin, FY2025: -6.79%Net margin, FY2021: 37.27%Net margin, FY2022: 15.31%Net margin, FY2023: 32.30%Net margin, FY2024: 31.68%Net margin, FY2025: 46.08%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 64.16%. Gross margin FY2022 57.36%. Gross margin FY2023 62.89%. Gross margin FY2024 61.62%. Gross margin FY2025 26.99%. Operating margin FY2021 42.55%. Operating margin FY2022 18.19%. Operating margin FY2023 39.57%. Operating margin FY2024 43.36%. Operating margin FY2025 -6.79%. Net margin FY2021 37.27%. Net margin FY2022 15.31%. Net margin FY2023 32.30%. Net margin FY2024 31.68%. Net margin FY2025 46.08%.

Income trends

Revenue

400.5M USD-36.58%

Operating income

−27.18M USD−301.01M USD

Net income

184.55M USD-7.74%
Income trends across reported periods697.34M USD433.88M USD170.41M USD−93.05M USDRevenue, FY2021: 339.59M USDRevenue, FY2022: 271.03M USDRevenue, FY2023: 460.85M USDRevenue, FY2024: 631.47M USDRevenue, FY2025: 400.5M USDOperating income, FY2021: 144.5M USDOperating income, FY2022: 49.29M USDOperating income, FY2023: 182.38M USDOperating income, FY2024: 273.83M USDOperating income, FY2025: −27.18M USDNet income, FY2021: 126.58M USDNet income, FY2022: 41.5M USDNet income, FY2023: 148.84M USDNet income, FY2024: 200.04M USDNet income, FY2025: 184.55M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 339.59M USD. Revenue FY2022 271.03M USD. Revenue FY2023 460.85M USD. Revenue FY2024 631.47M USD. Revenue FY2025 400.5M USD. Operating income FY2021 144.5M USD. Operating income FY2022 49.29M USD. Operating income FY2023 182.38M USD. Operating income FY2024 273.83M USD. Operating income FY2025 −27.18M USD. Net income FY2021 126.58M USD. Net income FY2022 41.5M USD. Net income FY2023 148.84M USD. Net income FY2024 200.04M USD. Net income FY2025 184.55M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue400.5M USD631.47M USD460.85M USD271.03M USD339.59M USD
Cost of goods sold292.4M USD242.36M USD171.01M USD115.56M USD121.71M USD
Gross profit108.1M USD389.11M USD289.84M USD155.47M USD217.88M USD
Selling, general, and administrative123.14M USD32.91M USD31.28M USD29.93M USD19.91M USD
Operating expenses135.28M USD115.28M USD107.46M USD106.18M USD73.38M USD
Interest income286.36M USD289.85M USD227.05M USD152.56M USD116.58M USD
Interest expense292.4M USD242.36M USD171.01M USD115.56M USD121.71M USD
Depreciation and amortization780K USD1M USD3.13M USD3.99M USD3.8M USD
Operating income−27.18M USD273.83M USD182.38M USD49.29M USD144.5M USD
Net income184.55M USD200.04M USD148.84M USD41.5M USD126.58M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 3 misses, 1 met estimate
Average EPS surprise
+4.76%
11 comparable reports
Latest EPS result
0.75
Estimate 0.73 · Beat by 2.60%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.840.740.640.54Q1 '25BeatQ2 '25MetQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 13, 2025: actual 0.62, estimate 0.58, surprise +6.90%, Beat. Q2 2025, reported May 7, 2025: actual 0.64, estimate 0.64, surprise 0.00%, Met estimate. Q3 2025, reported Aug 7, 2025: actual 0.6, estimate 0.62, surprise -3.23%, Miss. Q4 2025, reported Nov 6, 2025: actual 0.8, estimate 0.69, surprise +15.94%, Beat. Q1 2026, reported Feb 12, 2026: actual 0.67, estimate 0.66, surprise +1.52%, Beat. Q2 2026, reported May 7, 2026: actual 0.77, estimate 0.68, surprise +13.24%, Beat. Q3 2026, reported Aug 6, 2026: actual 0.75, estimate 0.731, surprise +2.60%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 0.74, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates243.53M170.5M97.46M24.43MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 13, 2025: actual 101.3M USD, estimate 34.16M USD, surprise +196.58%, Beat. Q2 2025, reported May 7, 2025: actual 184.93M USD, estimate 39.06M USD, surprise +373.44%, Beat. Q3 2025, reported Aug 7, 2025: actual 85.69M USD, estimate 44M USD, surprise +94.74%, Beat. Q4 2025, reported Nov 6, 2025: actual 227.62M USD, estimate 28.74M USD, surprise +692.05%, Beat. Q1 2026, reported Feb 12, 2026: actual 114.81M USD, estimate 105.89M USD, surprise +8.42%, Beat. Q2 2026, reported May 7, 2026: actual 124.23M USD, estimate 112.24M USD, surprise +10.68%, Beat. Q3 2026, reported Aug 6, 2026: actual 120.79M USD, estimate 111.95M USD, surprise +7.90%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 110.09M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

18 ratings
Strong buy00%
Buy1689%
Hold211%
Sell00%
Strong sell00%

HASI peers

Berkshire Hathaway Inc. logo

BRK-B

Berkshire Hathaway Inc.

$495.82

-0.21%

Berkshire Hathaway Inc. logo

BRK-A

Berkshire Hathaway Inc.

$743,500

-0.15%

JPMorgan Chase & Co. logo

JPM

JPMorgan Chase & Co.

$351.58

+0.01%

Visa Inc. logo

V

Visa Inc.

$371.04

+1.45%

Mastercard Incorporated logo

MA

Mastercard Incorporated

$580.63

+1.18%

Bank of America Corporation logo

BAC

Bank of America Corporation

$61.69

-0.27%

ETFs holding HASI

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Small-Cap ETF logoiShares Core S&P Small-Cap ETFIJR
Market value
327.49M
Weight
0.29%
AUM
111.19B USD
Expense ratio
0.06%
Price / 1D
$147.31+0.64%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
154.94M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
134.37M
Weight
0.17%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
111.79M
Weight
0.06%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
71.02M
Weight
0.10%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$249.18+0.68%
Invesco Solar ETF logoInvesco Solar ETFTAN
Market value
58.56M
Weight
4.53%
AUM
1.28B USD
Expense ratio
0.70%
Price / 1D
$49.32-0.82%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
55.72M
Weight
0.06%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
48.99M
Weight
0.34%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%

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