TORVANTA
Other · S&P 500 · data as of 2026-10-05

HASI stock analysis: HASI

HASI (HASI) is an S&P 500 company in Other. It grades weakest on value.

The model's view of HASI · subscribers

Where HASI ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with HASI · updated 2026-10-05 · from prices and SEC filings

HASI price performance

HASI against the S&P 500, one year
+0%+20%+40%HASI +25%S&P 500 +18%2025-09-292026-10-05
Year to date+19.5%S&P 500 +14.5% · ahead by 5.0 pts
1 year+24.2%S&P 500 +17.0% · ahead by 7.1 pts
3 years+197.4%S&P 500 +89.3% · ahead by 108.2 pts
5 years-12.1%S&P 500 +91.3% · behind by 103.4 pts

Total returns with dividends reinvested.

HASI factor grades

Each grade compares HASI with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

DValueP/E 62.6x (industry 20.1x)FCF yield 4.5% (industry 6.0%)
C+GrowthRevenue growth +27% (industry +8%)EPS growth -62% (industry +10%)
C+Profitability
B-Momentum12-month change +24%From 52-wk high -14%

HASI in plain numbers

HASI key statistics

SectorOther
Industryn/a
IndexS&P 500
Market value$4.7B
Revenue growth (y/y)+27%
Free-cash-flow yield4.5%
Dividend yield4.7%
Next earnings (expected)2026-11-05
Valuation measures
Market value$4.7B
Enterprise value$4.4B
P/E (trailing)62.6x
Forward P/E (Torvanta estimate)72.0x
Price / sales10.1x
Price / book1.8x
EV / revenue9.5x
Financial highlights
Revenue, last 12 months$462.9M
Net income, last 12 months$86.2M
EPS, last 12 months (GAAP)$0.58
Net margin18.6%
Return on equity3.3%
Cash$249.9M

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

HASI earnings trends

Revenue vs earnings
-$72.0M-$21.8M$28.3M$78.5M$128.6MSep 2024 Revenue: $82.0MDec 2024 Revenue: $101.3MMar 2025 Revenue: $96.9MJun 2025 Revenue: $85.7MSep 2025 Revenue: $103.1MDec 2025 Revenue: $114.8MMar 2026 Revenue: $124.2MJun 2026 Revenue: $120.8MSep 2024 Net income: -$19.6MDec 2024 Net income: $70.1MMar 2025 Net income: $56.6MJun 2025 Net income: $98.4MSep 2025 Net income: $83.3MDec 2025 Net income: -$53.8MMar 2026 Net income: -$72.0MJun 2026 Net income: $128.6MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: -23.9%Net margin: 69.2%Net margin: 58.4%Net margin: 114.9%Net margin: 80.8%Net margin: -46.8%Net margin: -57.9%Net margin: 106.5%-58%28%115%■ Revenue ■ Net income ━ Net margin
Earnings per share$-0.6$-0.2$0.2$0.6$0.9Sep 2024 EPS (GAAP, diluted): $-0.2Dec 2024 EPS (GAAP, diluted): $0.5Mar 2025 EPS (GAAP, diluted): $0.4Jun 2025 EPS (GAAP, diluted): $0.7Sep 2025 EPS (GAAP, diluted): $0.6Dec 2025 EPS (GAAP, diluted): $-0.4Mar 2026 EPS (GAAP, diluted): $-0.6Jun 2026 EPS (GAAP, diluted): $0.9Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Dec 2025 -172% · Mar 2026 -230% · Jun 2026 +24%

From the company's 10-Q and 10-K filings with the SEC.

HASI financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$213.2M$239.7M$319.9M$383.6M$400.5M
Net income$126.6M$41.5M$148.8M$200.0M$184.5M
EPS (GAAP)$1.49$0.46$1.43$1.57$1.41

HASI earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-08-06$0.92+24%+41%+6.1%
2026-05-07$-0.57-230%+28%-5.7%
2026-02-12$-0.38-172%+13%+8.1%
2025-11-06$0.61n/a+26%+11.7%
2025-08-07$0.74+222%-9%+4.5%
2025-05-07$0.44-55%-8%-0.9%

About HASI

HeadquartersAnnapolis, MD
Industry (SEC code)Investors, Nec
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE
FormerlyHannon Armstrong Sustainable Infrastructure Capital, Inc.

From the company's SEC registration record.

Companies similar to HASI

CompanyMarket valueP/ERevenue growthOperating margin12-month change
HASI HASI$4.7B62.6x+27%n/a+24%
LFST LFST$4.7Bn/a+20%4.9%+122%compare
SKY SKY$4.7B25.0x+5%8.7%+12%compare
NSIT NSIT$4.7B23.4x+3%4.6%+43%compare
SYNA SYNA$4.7Bn/a+11%-5.6%+73%
REYN REYN$4.7B14.2x+3%n/a-6%
PIPR PIPR$4.6B5.6x+32%n/a-21%

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Frequently asked questions

Is HASI stock a buy?

Torvanta does not tell individuals what to buy. Its grades for HASI are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is HASI's P/E ratio?

HASI trades at about 62.6 times its last 12 months of GAAP earnings reported to the SEC, and about 72.0 times Torvanta's own estimate of the next 12 months.

When does HASI report earnings next?

Based on its filing history, Torvanta expects HASI to report around 2026-11-05.

Does HASI pay a dividend?

Yes. Its dividend yield is about 4.7%, and it has raised its dividend 7 years in a row.

How has HASI performed against the S&P 500?

Over the past year HASI returned +24.2%, against +17.0% for the S&P 500, dividends reinvested.

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Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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