HASI Stock Analysis: HA Sustainable | NYSE
Asset Management | NYSE, USA | Market Cap: 5.099m USD | 12M Return: 23.3% | US41068X1000 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 37.6M
EPS Trend: 91.1%
Qual. Beats: 3
Rev. Trend: -61.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
HA Sustainable Infrastructure Capital, Inc. (NYSE: HASI) is a U.S.-based investment firm that deploys capital across energy efficiency, renewable energy, and other sustainable infrastructure markets. Its portfolio is structured through equity investments, receivables, and debt securities, providing flexible financing across the sustainable infrastructure value chain.
The company organizes its investments into three primary climate solution categories: Behind-the-Meter projects, which reduce on-site energy costs and usage for customers; Grid-Connected projects, which deploy cleaner power sources such as solar, solar-plus-storage, and wind to deliver lower-carbon energy onto the grid; and Fuels, Transport, and Nature assets, which extend beyond electricity generation to include renewable natural gas (RNG) plants, transportation fleet upgrades, and ecological restoration initiatives.
Founded in 1981 and headquartered in Annapolis, Maryland, the company has been publicly traded since its 2013 IPO and is classified under the GICS Real Estate sector as an Industrial REIT, reflecting its asset-based investment model. The firm rebranded from Hannon Armstrong Sustainable Infrastructure Capital, Inc. to HA Sustainable Infrastructure Capital, Inc. in June 2024.
- Interest rate spreads compress on federal funds rate volatility
- IRA tax credit transfer fees boost non-recurring revenue
- New investment originations expand across renewable energy portfolio
| Net Income: 149.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 5.58 > 1.0 |
| NWC/Revenue: 500.0% < 20% (prev 698.2%; Δ -198.2% < -1%) |
| CFO/TA 0.04 > 3% & CFO 386.5m > Net Income 149.4m |
| Current Ratio: 3.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (143.6m) vs 12m ago 2.84% < -2% |
| Gross Margin: 43.80% > 18% (prev 41.32%; Δ 2.48% > 0.5%) |
| Asset Turnover: 5.32% > 50% (prev 5.76%; Δ -0.45% > 0%) |
| Interest Coverage Ratio: 0.17 > 6 (EBIT TTM 61.3m / Interest Expense TTM 358.9m) |
| A: 0.25 (Total Current Assets 3.46b - Total Current Liabilities 1.09b) / Total Assets 9.63b |
| B: -0.03 (Retained Earnings -284.0m / Total Assets 9.63b) |
| C: 0.01 (EBIT TTM 61.3m / Avg Total Assets 8.92b) |
| D: 0.38 (Book Value of Equity 2.62b / Total Liabilities 6.90b) |
| Altman-Z'' = 1.96 = BBB |
As of November 15, 2026, the stock is trading at USD 38.80 with a total of 592,329 shares traded. Over the past week, the price has changed by -0.26%, over one month by +5.09%, over three months by -7.29% and over the past year by +23.33%.
Current recommended Stop Loss: 36.70 (which is 5.4% or 2 ATR below the current price).
HA Sustainable has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy HASI.
- StrongBuy: 8
- Buy: 4
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 48.8 | 25.7% |
P/E Trailing = 61.0462
P/E Forward = 12.3305
P/S = 40.0408
P/B = 2.0412
P/EG = 1.233
Revenue TTM = 474.3m USD
EBIT TTM = 61.3m USD
EBITDA TTM = 62.0m USD
Long Term Debt = 4.49b USD (from longTermDebt, last fiscal year)
Short Term Debt = 651.2m USD (from shortTermDebt, last quarter)
Debt = 6.46b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.35b USD (calculated: Debt 6.46b - CCE 102.3m)
Enterprise Value = 11.5b USD (5.10b + Debt 6.46b - CCE 102.3m)
Interest Coverage Ratio = 0.17 (Ebit TTM 61.3m / Interest Expense TTM 358.9m)
EV/FCF = 29.63x (Enterprise Value 11.5b / FCF TTM 386.5m)
FCF Yield = 3.38% (FCF TTM 386.5m / Enterprise Value 11.5b)
FCF Margin = 81.50% (FCF TTM 386.5m / Revenue TTM 474.3m)
Net Margin = 31.49% (Net Income TTM 149.4m / Revenue TTM 474.3m)
Gross Margin = 43.80% ((Revenue TTM 474.3m - Cost of Revenue TTM 266.6m) / Revenue TTM)
Gross Margin QoQ = none% (prev 27.59%)
Tobins Q-Ratio = 1.19 (Enterprise Value 11.5b / Total Assets 9.63b)
Interest Expense / Debt = 5.56% (Interest Expense 358.9m / Debt 6.46b)
Taxrate = 30.28% (63.2m / 208.9m)
NOPAT = 42.7m (EBIT 61.3m * (1 - 30.28%))
Current Ratio = 3.17 (Total Current Assets 3.46b / Total Current Liabilities 1.09b)
Debt / Equity = 2.46 (Debt 6.46b / totalStockholderEquity, last quarter 2.62b)
Debt / EBITDA = 102.4 (Net Debt 6.35b / EBITDA 62.0m)
Debt / FCF = 16.44 (Net Debt 6.35b / FCF TTM 386.5m)
Total Stockholder Equity = 2.55b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.68% (Net Income 149.4m / Total Assets 9.63b)
RoE = 5.87% (Net Income TTM 149.4m / Total Stockholder Equity 2.55b)
RoCE = 0.87% (EBIT 61.3m / Capital Employed (Equity 2.55b + L.T.Debt 4.49b))
RoIC = 0.47% (NOPAT 42.7m / Invested Capital 9.17b)
WACC = 6.31% (E(5.10b)/V(11.6b) * Re(9.39%) + D(6.46b)/V(11.6b) * Rd(5.56%) * (1-Tc(0.30)))
Discount Rate = 9.39% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 63.67 | Cagr: 10.61%
[DCF] Terminal Value 75.44% ; FCFF base≈386.5m ; Y1≈388.1m ; Y5≈411.1m
[DCF] Fair Price = 0.32 (EV 6.39b - Net Debt 6.35b = Equity 41.1m / Shares 128.5m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 91.10 | EPS CAGR: 10.10% | SUE: 2.37 | # QB: 3
Revenue Correlation: -61.81 | Revenue CAGR: -12.26% | SUE: 0.03 | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.80 | Chg30d=+0.00% | Revisions=+0% | Analysts=7
EPS current Year (2026-12-31): EPS=3.03 | Chg30d=+0.22% | Revisions=+25% | GrowthEPS=+12.2% | GrowthRev=+338.5%
EPS next Year (2027-12-31): EPS=2.21 | Chg30d=+0.07% | Revisions=-12% | GrowthEPS=+42.2% | GrowthRev=+11.0%
[Analyst] Revisions Ratio: +0% (up=6, down=6)