Valuation
Is the price right?Insufficient data
Insufficient data: 1 of 2 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.
Bringing the fundamentals into focus…
HASI Financial Services
HA Sustainable Infrastructure Capital, Inc.
$38.39+0.26%
Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026
Basics
- Sector
- Financial Services
- Industry
- Asset Management
- Country
- United States
- Market cap
- 4.9B USD
- Enterprise value
- 10.6B USD
- Full-time employees
- 170
Growth
Is it growing?48/100
Moderate
3/3 inputs reported · High confidence
Since last quarter: ▲ Stronger
- 12-month revenue up 8.2%
Why
Compare with peers Mixed versus peers:
- ▲ 3-yr revenue
- ▲ Revenue growth
- ▼ EPS growth
Behind the score
Revenue and earnings-per-share growth over one year, and revenue growth over three years.
Earnings per share growth-59.4%
SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.50Sector median: 0.0999 · MAD: 0.27733-year revenue growth20.9%
SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.27Sector median: 0.0999 · MAD: 0.0858Revenue growth26.5%
SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.29Sector median: 0.0742 · MAD: 0.1477Profitability
Does it earn well?15/100
Weak▲ 1 since Oct 27 close
3/3 inputs reported · High confidence
Since last quarter: ▲ Stronger
- Net margin rose 5.5 points to 18.6%
Why it changed since the Oct 27, 2026 close: Score 14 → 15
- Peer companies moved+1
Why
Compare with peers Weaker than most peers on:
- ▼ Operating margin
- ▼ ROIC
- ▼ ROA
Behind the score
Return on invested capital, operating margin, and return on assets.
Operating margin-6.8%
Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2025Reported value33% base weight · Z-score -2.07Sector median: 0.2353 · MAD: 0.1462Return on assets1.0%
SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.68Sector median: 0.0256 · MAD: 0.0233Return on invested capital0.3%
Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score -1.16Sector median: 0.0630 · MAD: 0.0518Other data (not scored)
Gross marginUnavailable
Missing · left out of the scoreInformational · 0% composite weightSector median: 0.7878 · MAD: 0.2122Return on equity3.3%
SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0939 · MAD: 0.0702Risk
Debt, liquidity, price swingsModerate
Moderate relative risk
3/3 inputs reported · High confidence
Since last quarter: No major change
Why it changed since the Oct 27, 2026 close: Safety percentile 55 → 52
- Peer companies moved-3
Why
Compare with peers Mixed versus peers:
- ▲ Current ratio
- ▼ Beta
- ▼ Debt / equity
Behind the score
Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.
Beta1.42
Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.32Sector median: 0.7010 · MAD: 0.3115Current ratio8.70×
Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score 5.36Sector median: 2.0250 · MAD: 1.2470Debt / equity2.23×
Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -3.03Sector median: 0.5734 · MAD: 0.5454Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about HA Sustainable Infrastructure Capital
- Is HA Sustainable Infrastructure Capital getting weaker?
- Its latest SEC filing (Aug 7, 2026) got stronger: net margin rose 5.5 points to 18.6%. Its overall score is 38/100, down 1 since Oct 28, 2026.
- How is HA Sustainable Infrastructure Capital valued vs its peers?
- Insufficient data: 1 of 2 inputs reported (at least 2 needed).
- Is HA Sustainable Infrastructure Capital growing?
- At about the same pace as its peers. Growth scores 48/100 against 432 financial services peers. 3-year revenue growth 20.9% vs a peer median of 10.0% (stronger than 78% of peers).3-year revenue growth 20.9% vs peers 10.0% (stronger than 78% of peers). Earnings per share growth -59.4% vs a peer median of 10.0% (weaker than 95% of peers).Earnings per share growth -59.4% vs peers 10.0% (weaker than 95% of peers).
- How profitable is HA Sustainable Infrastructure Capital?
- Less profitable than most of its peers. Profitability scores 15/100 against 432 financial services peers. Operating margin -6.8% vs a peer median of 23.5% (weaker than 85% of peers).Operating margin -6.8% vs peers 23.5% (weaker than 85% of peers).
- How risky is HA Sustainable Infrastructure Capital?
- Moderate risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Current ratio 8.70× vs a peer median of 2.02× (stronger than 82% of peers).Current ratio 8.70× vs peers 2.02× (stronger than 82% of peers). Beta 1.42 vs a peer median of 0.70 (weaker than 91% of peers).Beta 1.42 vs peers 0.70 (weaker than 91% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026Got stronger
- Net margin rose 5.5 points to 18.6%
Worth watching: HA Sustainable Infrastructure Capital is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
| Previous quarter | Latest quarter | Change | |
|---|---|---|---|
| Revenue (12 months) | 427.8M USD | 462.9M USD | +8.2% |
| Net income (12 months) | 56.0M USD | 86.1M USD | +53.9% |
| Cash | 124.5M USD | 249.9M USD | +100.7% |
| Shares outstanding | 128.4M | 128.5M | +0.0% |
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Asset Management · 43 companiesValuations in Asset Management are near the top of their range since 2016.
- 95% of months since 2016 were valued lower than now.
- 37% of companies are in the most expensive fifth of their own price-to-sales history.
- Over 24 months, company values +10% and earnings +13% (medians): prices and earnings moved broadly together.
- Median price-to-sales is +31% vs the whole market, against a usual +6%.
Financials
Fiscal years from SEC annual filings · change vs the prior year| Key ratios | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | Change |
|---|---|---|---|---|---|---|
| Net margin | 59.4% | 17.3% | 46.5% | 52.1% | 46.1% | ▼ 6.1 pts |
| Return on assets (ROA) | 3.1% | 0.9% | 2.3% | 2.8% | 2.3% | ▼ 0.6 pts |
| Return on equity (ROE) | 8.1% | 2.5% | 6.9% | 8.3% | 6.9% | ▼ 1.4 pts |
| Debt to equity | 0.31× | 0.26× | 0.30× | 0.30× | 0.24× | ▼ 21% |
HASI price history
Price history is added with the daily price update and will appear after the next one.