HASI Stock Analysis: Hannon Armstrong | NYSE
Asset Management | NYSE, USA | Market Cap: 5.381m USD | 12M Return: 51.5% | US41068X1000 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 36.1M
EPS Trend: 91.0%
Qual. Beats: 2
Rev. Trend: -15.5%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
HA Sustainable Infrastructure Capital, Inc. (HASI) is a U.S.-based specialty finance company that invests in energy efficiency, renewable energy, and other sustainable infrastructure markets. Its portfolio consists of equity investments, receivables, and debt securities, structured to provide capital to climate-focused projects across three main segments: Behind-the-Meter (energy cost or usage reduction), Grid-Connected (solar, solar-plus-storage, and wind projects), and Fuels, Transport, and Nature (renewable natural gas, fleet upgrades, ecological restoration, and similar assets).
The company operates as an Industrial REIT within the Real Estate GICS sector, financing infrastructure assets rather than owning traditional real estate, and has been publicly traded since its 2013 IPO. Founded in 1981 and headquartered in Annapolis, Maryland, the company rebranded from Hannon Armstrong Sustainable Infrastructure Capital, Inc. to its current name in June 2024.
- Net interest margin compresses as short-term rates ease
- Inflation Reduction Act incentives drive record clean energy origination
- Portfolio growth in solar and storage segments lifts distributable income
| Net Income: 86.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -253.3 > 1.0 |
| NWC/Revenue: 52.70% < 20% (prev 634.0%; Δ -581.3% < -1%) |
| CFO/TA 0.02 > 3% & CFO 208.5m > Net Income 86.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 41.65 > 1.5 & < 3 |
| Outstanding Shares: last quarter (143.0m) vs 12m ago 3.85% < -2% |
| Gross Margin: 27.69% > 18% (prev 50.59%; Δ -22.90% > 0.5%) |
| Asset Turnover: 5.60% > 50% (prev 5.95%; Δ -0.35% > 0%) |
| Interest Coverage Ratio: -0.05 > 6 (EBIT TTM -17.0m / Interest Expense TTM 334.0m) |
| A: 0.03 (Total Current Assets 249.9m - Total Current Liabilities 6.00m) / Total Assets 8.94b |
| B: -0.04 (Retained Earnings -375.9m / Total Assets 8.94b) |
| C: -0.00 (EBIT TTM -17.0m / Avg Total Assets 8.27b) |
| D: 0.40 (Book Value of Equity 2.54b / Total Liabilities 6.29b) |
| Altman-Z'' = 0.45 = B |
As of August 23, 2026, the stock is trading at USD 39.48 with a total of 926,996 shares traded. Over the past week, the price has changed by -6.27%, over one month by +2.79%, over three months by -1.82% and over the past year by +51.52%.
Current recommended Stop Loss: 36.60 (which is 7.3% or 2.6 ATR below the current price).
Hannon Armstrong has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy HASI.
- StrongBuy: 10
- Buy: 4
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 49.8 | 26.1% |
P/E Trailing = 63.4545
P/E Forward = 13.6799
P/S = 42.2608
P/B = 2.0908
P/EG = 1.3673
Revenue TTM = 462.9m USD
EBIT TTM = -17.0m USD
EBITDA TTM = -16.2m USD
Long Term Debt = 5.42b USD (from longTermDebt, last quarter)
Short Term Debt = 6.00m USD (from shortTermDebt, last quarter)
Debt = 5.90b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 5.65b USD (calculated: Debt 5.90b - CCE 249.9m)
Enterprise Value = 11.0b USD (5.38b + Debt 5.90b - CCE 249.9m)
Interest Coverage Ratio = -0.05 (Ebit TTM -17.0m / Interest Expense TTM 334.0m)
EV/FCF = 373.3x (Enterprise Value 11.0b / FCF TTM 29.6m)
FCF Yield = 0.27% (FCF TTM 29.6m / Enterprise Value 11.0b)
FCF Margin = 6.38% (FCF TTM 29.6m / Revenue TTM 462.9m)
Net Margin = 18.61% (Net Income TTM 86.2m / Revenue TTM 462.9m)
Gross Margin = 27.69% ((Revenue TTM 462.9m - Cost of Revenue TTM 334.7m) / Revenue TTM)
Gross Margin QoQ = 27.59% (prev 20.09%)
Tobins Q-Ratio = 1.23 (Enterprise Value 11.0b / Total Assets 8.94b)
Interest Expense / Debt = 5.66% (Interest Expense 334.0m / Debt 5.90b)
Taxrate = 35.87% (49.4m / 137.7m)
NOPAT = -10.9m (EBIT -17.0m * (1 - 35.87%)) [loss with tax shield]
Current Ratio = 0.63 (Total Current Assets 249.9m / Total Current Liabilities 396.3m)
Debt / Equity = 2.32 (Debt 5.90b / totalStockholderEquity, last quarter 2.54b)
Debt / EBITDA = -348.1 (out of range, set to none) (Net Debt 5.65b / EBITDA -16.2m)
Debt / FCF = 191.2 (Net Debt 5.65b / FCF TTM 29.6m)
Total Stockholder Equity = 2.54b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.04% (Net Income 86.2m / Total Assets 8.94b)
RoE = 3.39% (Net Income TTM 86.2m / Total Stockholder Equity 2.54b)
RoCE = -0.21% (EBIT -17.0m / Capital Employed (Equity 2.54b + L.T.Debt 5.42b))
RoIC = -0.12% (negative operating profit) (NOPAT -10.9m / Invested Capital 8.92b)
WACC = 6.47% (E(5.38b)/V(11.3b) * Re(9.59%) + D(5.90b)/V(11.3b) * Rd(5.66%) * (1-Tc(0.36)))
Discount Rate = 9.59% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 47.94 | Cagr: 3.99%
[DCF] Terminal Value 73.10% ; FCFF base≈7.72b ; Y1≈6.77b ; Y5≈5.47b
[DCF] Fair Price = 639.7 (EV 87.8b - Net Debt 5.65b = Equity 82.2b / Shares 128.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 90.96 | EPS CAGR: 9.89% | SUE: 0.84 | # QB: 2
Revenue Correlation: -15.53 | Revenue CAGR: -4.00% | SUE: 0.54 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.75 | Chg30d=+1.74% | Revisions=+44% | Analysts=10
EPS current Year (2026-12-31): EPS=3.03 | Chg30d=+0.81% | Revisions=+50% | GrowthEPS=+12.0% | GrowthRev=+5.7%
EPS next Year (2027-12-31): EPS=2.27 | Chg30d=+1.76% | Revisions=+17% | GrowthEPS=+28.5% | GrowthRev=+68.4%
[Analyst] Revisions Ratio: +53% (up=13, down=3)