HA SUSTAINABLE INFRASTRUCTUR (HASI) Fundamental Analysis & Valuation

NYSE:HASI • US41068X1000

35.875 USD
-0.55 (-1.52%)
Last: Mar 6, 2026, 10:05 AM
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This HASI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Overall HASI gets a fundamental rating of 4 out of 10. We evaluated HASI against 97 industry peers in the Financial Services industry. HASI has only an average score on both its financial health and profitability. HASI is quite expensive at the moment. It does show a decent growth rate. HASI also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. HASI Profitability Analysis

1.1 Basic Checks

  • HASI had positive earnings in the past year.
  • In the past year HASI had a positive cash flow from operations.
  • In the past 5 years HASI has always been profitable.
  • In the past 5 years HASI always reported a positive cash flow from operatings.
HASI Yearly Net Income VS EBIT VS OCF VS FCFHASI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M

1.2 Ratios

  • HASI has a Return On Assets of 2.25%. This is in the better half of the industry: HASI outperforms 60.82% of its industry peers.
  • HASI has a Return On Equity of 7.16%. This is comparable to the rest of the industry: HASI outperforms 45.36% of its industry peers.
Industry RankSector Rank
ROA 2.25%
ROE 7.16%
ROIC N/A
ROA(3y)2.44%
ROA(5y)2.24%
ROE(3y)7.58%
ROE(5y)6.67%
ROIC(3y)N/A
ROIC(5y)N/A
HASI Yearly ROA, ROE, ROICHASI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2 4 6 8

1.3 Margins

  • HASI has a Profit Margin of 46.05%. This is amongst the best in the industry. HASI outperforms 88.66% of its industry peers.
  • In the last couple of years the Profit Margin of HASI has remained more or less at the same level.
  • Looking at the Gross Margin, with a value of 26.99%, HASI is in line with its industry, outperforming 48.45% of the companies in the same industry.
  • In the last couple of years the Gross Margin of HASI has declined.
Industry RankSector Rank
OM N/A
PM (TTM) 46.05%
GM 26.99%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y39.37%
PM growth 5Y1.11%
GM growth 3Y-19.54%
GM growth 5Y-11.84%
HASI Yearly Profit, Operating, Gross MarginsHASI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40

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4

2. HASI Health Analysis

2.1 Basic Checks

  • HASI does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • The number of shares outstanding for HASI has been increased compared to 1 year ago.
  • HASI has more shares outstanding than it did 5 years ago.
  • HASI has a better debt/assets ratio than last year.
HASI Yearly Shares OutstandingHASI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
HASI Yearly Total Debt VS Total AssetsHASI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.2 Solvency

  • HASI has an Altman-Z score of 0.92. This is a bad value and indicates that HASI is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.92, HASI is in line with its industry, outperforming 59.79% of the companies in the same industry.
  • The Debt to FCF ratio of HASI is 30.31, which is on the high side as it means it would take HASI, 30.31 years of fcf income to pay off all of its debts.
  • HASI has a worse Debt to FCF ratio (30.31) than 61.86% of its industry peers.
  • HASI has a Debt/Equity ratio of 1.97. This is a high value indicating a heavy dependency on external financing.
  • HASI has a Debt to Equity ratio of 1.97. This is in the lower half of the industry: HASI underperforms 65.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.97
Debt/FCF 30.31
Altman-Z 0.92
ROIC/WACCN/A
WACC7.43%
HASI Yearly LT Debt VS Equity VS FCFHASI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B 4B 5B

2.3 Liquidity

  • A Current Ratio of 7.64 indicates that HASI has no problem at all paying its short term obligations.
  • HASI has a Current ratio of 7.64. This is amongst the best in the industry. HASI outperforms 96.91% of its industry peers.
  • HASI has a Quick Ratio of 7.64. This indicates that HASI is financially healthy and has no problem in meeting its short term obligations.
  • HASI has a better Quick ratio (7.64) than 96.91% of its industry peers.
Industry RankSector Rank
Current Ratio 7.64
Quick Ratio 7.64
HASI Yearly Current Assets VS Current LiabilitesHASI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. HASI Growth Analysis

3.1 Past

  • HASI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.61%, which is quite good.
  • Measured over the past years, HASI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.54% on average per year.
  • Looking at the last year, HASI shows a very negative growth in Revenue. The Revenue has decreased by -18.17% in the last year.
  • Measured over the past years, HASI shows a quite strong growth in Revenue. The Revenue has been growing by 16.47% on average per year.
EPS 1Y (TTM)10.61%
EPS 3Y9.22%
EPS 5Y11.54%
EPS Q2Q%8.06%
Revenue 1Y (TTM)-18.17%
Revenue growth 3Y18.66%
Revenue growth 5Y16.47%
Sales Q2Q%13.34%

3.2 Future

  • Based on estimates for the next years, HASI will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.70% on average per year.
  • Based on estimates for the next years, HASI will show a small growth in Revenue. The Revenue will grow by 0.65% on average per year.
EPS Next Y6.32%
EPS Next 2Y9.44%
EPS Next 3Y9.65%
EPS Next 5Y9.7%
Revenue Next Year14.93%
Revenue Next 2Y14.23%
Revenue Next 3Y13.87%
Revenue Next 5Y0.65%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
HASI Yearly Revenue VS EstimatesHASI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 100M 200M 300M 400M 500M
HASI Yearly EPS VS EstimatesHASI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4

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3

4. HASI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 13.24, the valuation of HASI can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of HASI is on the same level as its industry peers.
  • HASI's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.69.
  • With a Price/Forward Earnings ratio of 12.45, HASI is valued correctly.
  • The rest of the industry has a similar Price/Forward Earnings ratio as HASI.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.79, HASI is valued a bit cheaper.
Industry RankSector Rank
PE 13.24
Fwd PE 12.45
HASI Price Earnings VS Forward Price EarningsHASI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • HASI's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 27.03
EV/EBITDA N/A
HASI Per share dataHASI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.09
PEG (5Y)1.15
EPS Next 2Y9.44%
EPS Next 3Y9.65%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

8

5. HASI Dividend Analysis

5.1 Amount

  • HASI has a Yearly Dividend Yield of 4.61%, which is a nice return.
  • HASI's Dividend Yield is rather good when compared to the industry average which is at 2.29. HASI pays more dividend than 82.47% of the companies in the same industry.
  • HASI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 4.61%

5.2 History

  • The dividend of HASI has a limited annual growth rate of 3.99%.
  • HASI has paid a dividend for at least 10 years, which is a reliable track record.
  • HASI has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.99%
Div Incr Years6
Div Non Decr Years11
HASI Yearly Dividends per shareHASI Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

5.3 Sustainability

  • HASI pays out 113.73% of its income as dividend. This is not a sustainable payout ratio.
  • HASI's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP113.73%
EPS Next 2Y9.44%
EPS Next 3Y9.65%
HASI Yearly Income VS Free CF VS DividendHASI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M
HASI Dividend Payout.HASI Dividend Payout, showing the Payout Ratio.HASI Dividend Payout.PayoutRetained Earnings

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HASI Fundamentals: All Metrics, Ratios and Statistics

HA SUSTAINABLE INFRASTRUCTUR

NYSE:HASI (3/6/2026, 10:05:30 AM)

35.875

-0.55 (-1.52%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)02-12
Earnings (Next)05-05
Inst Owners108.46%
Inst Owner Change-5.8%
Ins Owners1.89%
Ins Owner Change0%
Market Cap4.52B
Revenue(TTM)400.50M
Net Income(TTM)184.45M
Analysts83.64
Price Target44.3 (23.48%)
Short Float %9.18%
Short Ratio11.07
Dividend
Industry RankSector Rank
Dividend Yield 4.61%
Yearly Dividend1.7
Dividend Growth(5Y)3.99%
DP113.73%
Div Incr Years6
Div Non Decr Years11
Ex-Date04-02
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)8.24%
Min EPS beat(2)2.47%
Max EPS beat(2)14%
EPS beat(4)3
Avg EPS beat(4)2.95%
Min EPS beat(4)-6.3%
Max EPS beat(4)14%
EPS beat(8)6
Avg EPS beat(8)5.04%
EPS beat(12)7
Avg EPS beat(12)3.14%
EPS beat(16)9
Avg EPS beat(16)3.46%
Revenue beat(2)2
Avg Revenue beat(2)3.53%
Min Revenue beat(2)0.88%
Max Revenue beat(2)6.18%
Revenue beat(4)2
Avg Revenue beat(4)-1.11%
Min Revenue beat(4)-9.12%
Max Revenue beat(4)6.18%
Revenue beat(8)5
Avg Revenue beat(8)6.92%
Revenue beat(12)8
Avg Revenue beat(12)6.14%
Revenue beat(16)12
Avg Revenue beat(16)26.03%
PT rev (1m)8.57%
PT rev (3m)11.56%
EPS NQ rev (1m)1.94%
EPS NQ rev (3m)-1.36%
EPS NY rev (1m)-0.05%
EPS NY rev (3m)-2.14%
Revenue NQ rev (1m)1.6%
Revenue NQ rev (3m)1.06%
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)1.06%
Valuation
Industry RankSector Rank
PE 13.24
Fwd PE 12.45
P/S 11.29
P/FCF 27.03
P/OCF 27.03
P/B 1.76
P/tB 1.76
EV/EBITDA N/A
EPS(TTM)2.71
EY7.55%
EPS(NY)2.88
Fwd EY8.03%
FCF(TTM)1.33
FCFY3.7%
OCF(TTM)1.33
OCFY3.7%
SpS3.18
BVpS20.42
TBVpS20.42
PEG (NY)2.09
PEG (5Y)1.15
Graham Number35.29
Profitability
Industry RankSector Rank
ROA 2.25%
ROE 7.16%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 46.05%
GM 26.99%
FCFM 41.78%
ROA(3y)2.44%
ROA(5y)2.24%
ROE(3y)7.58%
ROE(5y)6.67%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y39.37%
PM growth 5Y1.11%
GM growth 3Y-19.54%
GM growth 5Y-11.84%
F-Score3
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 1.97
Debt/FCF 30.31
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 90.71%
Current Ratio 7.64
Quick Ratio 7.64
Altman-Z 0.92
F-Score3
WACC7.43%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)53.69%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)10.61%
EPS 3Y9.22%
EPS 5Y11.54%
EPS Q2Q%8.06%
EPS Next Y6.32%
EPS Next 2Y9.44%
EPS Next 3Y9.65%
EPS Next 5Y9.7%
Revenue 1Y (TTM)-18.17%
Revenue growth 3Y18.66%
Revenue growth 5Y16.47%
Sales Q2Q%13.34%
Revenue Next Year14.93%
Revenue Next 2Y14.23%
Revenue Next 3Y13.87%
Revenue Next 5Y0.65%
EBIT growth 1Y-171.27%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year224.29%
EBIT Next 3Y57.66%
EBIT Next 5YN/A
FCF growth 1Y2759.14%
FCF growth 3YN/A
FCF growth 5Y17.95%
OCF growth 1Y2759.14%
OCF growth 3Y799.37%
OCF growth 5Y17.95%

HA SUSTAINABLE INFRASTRUCTUR / HASI FAQ

What is the ChartMill fundamental rating of HA SUSTAINABLE INFRASTRUCTUR (HASI) stock?

ChartMill assigns a fundamental rating of 4 / 10 to HASI.


What is the valuation status for HASI stock?

ChartMill assigns a valuation rating of 3 / 10 to HA SUSTAINABLE INFRASTRUCTUR (HASI). This can be considered as Overvalued.


Can you provide the profitability details for HA SUSTAINABLE INFRASTRUCTUR?

HA SUSTAINABLE INFRASTRUCTUR (HASI) has a profitability rating of 4 / 10.


What is the valuation of HA SUSTAINABLE INFRASTRUCTUR based on its PE and PB ratios?

The Price/Earnings (PE) ratio for HA SUSTAINABLE INFRASTRUCTUR (HASI) is 13.24 and the Price/Book (PB) ratio is 1.76.


How sustainable is the dividend of HA SUSTAINABLE INFRASTRUCTUR (HASI) stock?

The dividend rating of HA SUSTAINABLE INFRASTRUCTUR (HASI) is 8 / 10 and the dividend payout ratio is 113.73%.