Clearway Energy Inc (CWEN)
NYSE:CWEN
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Clearway Energy
(NYSE:CWEN)
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Rating:61Neutral
Price Target:
$40.00
▲(2.72% Upside)
Action:ReiteratedDate:03/10/26
The score is held back primarily by balance-sheet leverage and some earnings/cash-flow volatility, despite steady revenue growth and solid operating cash generation. The latest earnings call was a key positive, with reiterated CAFD guidance, strong commercialization progress, and clear long-term per-share targets. Technically the trend is improving versus longer-term averages, while valuation is supported by the dividend but tempered by a mid-20s P/E.
Positive Factors
Cash Generation
Clearway produces durable operating cash flow and positive free cash flow, providing a structural funding source to support dividends, reinvestment in growth projects and debt servicing. Consistent CAFD supports long‑term capital allocation and reduces dependence on short‑term market funding.
Negative Factors
High Leverage
The business remains meaningfully debt‑funded for an asset‑heavy, rate‑sensitive renewable utility. Elevated leverage constrains financial flexibility, amplifies refinancing and interest‑rate risk, and limits optionality for M&A or opportunistic deployment during adverse market/resource cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Clearway produces durable operating cash flow and positive free cash flow, providing a structural funding source to support dividends, reinvestment in growth projects and debt servicing. Consistent CAFD supports long‑term capital allocation and reduces dependence on short‑term market funding.
Read all positive factors
Clearway Energy (CWEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.99B
Dividend Yield5.29%
Average Volume (3M)947.16K
Price to Earnings (P/E)23.4
Beta (1Y)0.24
Revenue Growth2.54%
EPS Growth124.89%
CountryUS
Employees60
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.88
Shares Outstanding86,290,180
10 Day Avg. Volume947,935
30 Day Avg. Volume947,164
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)2.06
Price to Sales (P/S)2.77
P/FCF Ratio10.73
Enterprise Value/Market Cap2.17
Enterprise Value/Revenue12.14
Enterprise Value/Gross Profit24.13
Enterprise Value/Ebitda15.99
Forecast
1Y Price Target
$42.86Price Target Upside10.07% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.66
Revenue Forecast (FY)$1.64B
Clearway Energy Business Overview & Revenue Model
Company Description
Clearway Energy, Inc. operates in the renewable energy business in the United States. It has approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilitie...
How the Company Makes Money
Clearway Energy generates revenue primarily through the sale of electricity generated from its renewable energy assets, which are typically contracted under long-term power purchase agreements (PPAs). These agreements provide a stable and predicta...
Clearway Energy Key Performance Indicators (KPIs)
Any
Net Income Breakdown
Analyzes the components contributing to net income, providing insight into profitability and how different factors like costs, taxes, and interest impact the bottom line.
Analyzes the components contributing to net income, providing insight into profitability and how different factors like costs, taxes, and interest impact the bottom line.
Data provided by:
The Fly
The FlyClearway Energy Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call conveyed strong execution on operations, commercialization and funding with several concrete metrics (Q4 adjusted EBITDA $237M, full-year CAFD $430M, 2026 guidance $470M–$510M) and a large, well-commercialized pipeline supporting ambitious 2027 and 2030 CAFD per share targets. Management highlighted robust PPA pricing (roughly double vs three years ago), signed ~2 GW of new PPAs, attractive repowering yields (>11%), and enhanced capital flexibility (closed $600M notes, $100M equity raised, stock +30%). Headwinds included below-median wind in Q4, solar timing impacts, modest near-term CAFD uplift from individual recontracts, and typical execution/funding/permitting sensitivities tied to achieving long-term targets. Overall, positives around growth visibility, funding and operational delivery significantly outweigh the few near-term performance and execution risks.Positive Updates
Full-Year CAFD Above Guidance Midpoint
Full-year cash available for distribution (CAFD) of $430 million, above the midpoint of original guidance ($400M–$440M) and at the top end of the original range per management commentary.
Negative Updates
Seasonal Resource and Timing Headwinds in Q4
Wind resource in the quarter was below median expectations across the fleet (including California); solar performance was impacted by timing of debt service related to growth investments, reducing near-term renewable output versus budget.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year CAFD Above Guidance Midpoint
Full-year cash available for distribution (CAFD) of $430 million, above the midpoint of original guidance ($400M–$440M) and at the top end of the original range per management commentary.
Read all positive updates
Company Guidance
Clearway reiterated 2026 CAFD guidance of $470–$510 million (midpoint assumes P50 renewable production) after delivering full‑year 2025 CAFD of $430 million (above the $400–$440m original range) and reporting Q4 adjusted EBITDA of $237 million and quarterly CAFD of $35 million; management reaffirmed a 2027 CAFD/share target of $2.70+ and a 2030 CAFD/share target of $2.90–$3.10 (implying a 7–8% CAGR from 2025) with upside to 5–8%+ growth in 2031+ from the 2030 baseline. 2025 execution added ~1.3 GW of projects and ~2 GW of new PPAs with hyperscalers; >900 MW of repowerings are on track for 2027 COD with CAFD yields in excess of 11%; 100% of 2026/2027 repowering and new‑build projects are commercialized, ~50% of 2028 late‑stage MWs are contracted, 2029 development activity exceeds 7 GW with potential to deploy well over $600 million of corporate capital that year, and the company expects to develop roughly 2 GW+/year into the 2030s. Identified growth financing includes ~$1.3 billion of 2027–2028 corporate capital opportunities targeted at ≥10.5% CAFD yields, the ability to deploy at least $650 million incremental capital over 2028–2030 (with optionality to scale), a prior ~$2.5 billion corporate capital plan to reach 2030 goals, recent funding actions including $600 million of senior notes due 2034 and ~$100 million of opportunistic equity issuance, and a long‑term funding framework targeting ~4.0–4.5x leverage, a BB target rating and a post‑2030 payout ratio below 70%.Clearway Energy Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
46
Neutral
Cash Flow
61
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.43B | 1.37B | 1.31B | 1.19B | 1.29B |
| Gross Profit | 217.00M | 870.00M | 841.00M | 755.00M | 835.00M |
| EBITDA | 1.10B | 1.08B | 1.03B | 2.20B | 904.00M |
| Net Income | 169.00M | 88.00M | 79.00M | 582.00M | 51.00M |
Balance Sheet | |||||
| Total Assets | 16.66B | 14.33B | 14.70B | 12.31B | 12.81B |
| Cash, Cash Equivalents and Short-Term Investments | 818.00M | 332.00M | 535.00M | 657.00M | 179.00M |
| Total Debt | 10.20B | 7.75B | 8.66B | 7.36B | 8.27B |
| Total Liabilities | 10.74B | 8.77B | 9.71B | 8.28B | 9.51B |
| Stockholders Equity | 1.92B | 2.06B | 2.10B | 2.23B | 1.83B |
Cash Flow | |||||
| Free Cash Flow | 369.00M | 483.00M | 408.00M | 675.00M | 550.00M |
| Operating Cash Flow | 688.00M | 770.00M | 702.00M | 787.00M | 701.00M |
| Investing Cash Flow | 321.00M | -725.00M | -523.00M | 1.13B | 88.00M |
| Financing Cash Flow | -924.00M | -363.00M | -124.00M | -1.57B | -600.00M |
Clearway Energy Technical Analysis
Positive
38.94
Price Trends
37.69
Positive
35.56
Positive
32.65
Positive
Market Momentum
0.38
Positive
54.26
Neutral
67.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CWEN, the sentiment is Positive. The current price of 38.94 is above the 20-day moving average (MA) of 38.36, above the 50-day MA of 37.69, and above the 200-day MA of 32.65, indicating a bullish trend. The MACD of 0.38 indicates Positive momentum. The RSI at 54.26 is Neutral, neither overbought nor oversold. The STOCH value of 67.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CWEN.
Clearway Energy Risk Analysis
Clearway Energy disclosed 50 risk factors in its most recent earnings report. Clearway Energy reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clearway Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $3.78B | 21.38 | 12.18% | 0.99% | 45.09% | 50.54% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
61 Neutral | $7.99B | 23.42 | 5.91% | 5.29% | 2.54% | 124.89% | |
56 Neutral | $6.75B | 54.13 | 4.95% | 0.42% | 6.07% | 12.07% | |
55 Neutral | $7.10B | -2.94 | -1196.72% | 3.84% | 5.93% | -39.88% | |
55 Neutral | $1.70B | -231.49 | 10.05% | ― | 42.09% | 219.69% | |
47 Neutral | $3.71B | -6.52 | -41.93% | ― | 765.67% | -202.81% |
* Utilities Sector Average
CWEN
Clearway Energy
39.11
10.52
36.82%
ORA
Ormat Techno
112.00
41.79
59.52%
BEPC
Brookfield Renewable
39.35
12.53
46.74%
SMR
NuScale Power
10.30
-4.67
-31.20%
RNW
ReNew Energy Global
4.51
-1.50
-24.96%
EE
Excelerate Energy, Inc. Class A
33.46
5.77
20.82%
Clearway Energy Corporate Events
Business Operations and StrategyShareholder Meetings
Clearway Energy Proposes Charter Change to Unify Share Classes
Positive
Mar 9, 2026
On March 9, 2026, Clearway Energy, Inc. announced that its board approved a proposal to amend the company’s charter to convert each share of Class A common stock into one share of Class C common stock, subject to shareholder approval at the ...
Private Placements and Financing
Clearway Energy completes $600 million senior notes offering
Positive
Jan 13, 2026
On January 13, 2026, Clearway Energy Operating LLC, a subsidiary of Clearway Energy, Inc., completed a private offering of $600 million in 5.750% senior unsecured notes due 2034, sold to institutional investors under Rule 144A and Regulation S in ...
Business Operations and StrategyPrivate Placements and Financing
Clearway Energy Upsizes Senior Notes Offering for Growth
Positive
Jan 8, 2026
On January 8, 2026, Clearway Energy Operating LLC, a subsidiary of Clearway Energy, Inc., announced a proposed offering of senior unsecured notes due 2034, initially targeted at $500 million and subsequently upsized the same day to $600 million af...
Financial DisclosuresRegulatory Filings and Compliance
Clearway Energy Reports Control Weakness in HLBV Calculations
Negative
Jan 7, 2026
In a filing covering its quarterly periods ended March 31, June 30 and September 30, 2025, Clearway Energy, Inc. and Clearway Energy LLC disclosed that they had identified and corrected immaterial errors in the hypothetical liquidation at book val...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.