Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) AI Stock Analysis

Hannon Armstrong Sustainable Infrastructure Capital, Inc. specializes in providing capital and services to advance the energy efficiency, renewable energy, and sustainable infrastructure markets across the United States. It finances building energy efficiency initiatives, including solar generation, energy storage systems, lighting, HVAC, and building shell improvements. The company also supports grid-connected solar and wind power projects, along with transmission, distribution, and water infrastructure. Operating as a real estate investment trust (REIT), it distributes at least 90% of taxable income to shareholders. Founded in 1981, the company is headquartered in Annapolis, Maryland.

Revenue experienced significant volatility across recent years, growing 44.6% to $339.6M in FY2021, declining 20.2% to $271.0M in FY2022, and expanding 70.0% to $460.8M in FY2023. In FY2024, revenue reached $631.5M with an operating margin of 43.4% and net income of $200.0M. Revenue fell 36.6% to $400.5M in FY2025 as gross margin contracted to 27.0% and operating margin was -6.8%, though net income stood at $184.5M. Over the five years from FY2020 to FY2025, revenue achieved an 11.3% CAGR. For the trailing twelve months, revenue reached $127.3M. In the latest quarter ended June 30, 2026, quarterly revenue grew 804.4% year-over-year, while quarterly earnings increased 24.5%.

As of June 30, 2026, the company held $249.9M in cash and short-term investments against total debt of $5.90B, resulting in net debt of $5.65B. Total assets stood at $8.94B, and shareholders' equity was $2.54B, yielding a debt-to-equity ratio of 2.32 and a current ratio of 41.65. Operating cash flow and free cash flow were both $167.3M in FY2025. During FY2025, cash deployment included $209.8M paid in dividends and $8.4M dedicated to share buybacks.

At a last close of $36.42, HASI has a market cap of $4.68B and an enterprise value of $9.83B. Its trailing P/E ratio of 56.0x and price-to-sales ratio of 36.8x trade well above the median of its US-listed Financial Services peers of 12.1x and 3.2x, respectively. However, its forward P/E of 11.1x is closer to the peer median of 10.8x, and its EV-to-EBITDA multiple of 5.8x is below the peer median of 11.7x. Over the past year, HASI returned 27.2%, outperforming the S&P 500 (SPY) return of 16.8%, but its 5-year return of -19.0% lagged the S&P 500 return of 83.0%.

HASI pays a quarterly dividend with a forward annual payout of $1.70 per share, delivering a dividend yield of 4.67%. Its payout ratio is 57.5%. The company has paid dividends for 14 consecutive years and generated a 5-year annualized dividend growth rate of 4.3%. The most recent ex-dividend date was October 2, 2026.

Wall Street coverage comprises 8 Strong Buy, 4 Buy, and 3 Hold ratings, with no Sell or Strong Sell ratings. The mean price target of $49.71 suggests a 36.5% upside over the last close of $36.42. For the fiscal year ending December 31, 2026, analysts estimate EPS of $3.03 on revenue of $473.6M. HASI beat EPS estimates in each of the last 4 quarters, and its next earnings date is November 5, 2026.

This page is an AI-written research summary of Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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