tiprankstipranks
Trending News
More News >
HASI (HASI)
:HASI

HASI (HASI) AI Stock Analysis

Compare
1,449 Followers

Top Page

HA

HASI

(NYSE:HASI)

Rating:71Outperform
Price Target:
$29.00
▲(7.21%Upside)
HASI's strong financial performance and strategic initiatives in sustainable infrastructure are significant positives. Solid earnings outlook and recent corporate actions enhance its appeal. However, attention to cash flow and moderate technical indicators suggest a balanced, yet cautious, stock position.
Positive Factors
Financial Performance
Stable, long-duration cash flows across a diversified investment portfolio offer defensiveness in a volatile market.
Growth Potential
Analyst's recommendation remains Overweight, with a price target reflecting significant total-return upside.
Portfolio Resilience
CCH1, HASI’s investment vehicle, exceeded $1B in funding and plans to increase capacity, boosting portfolio yields and ROE.
Negative Factors
Market Challenges
Despite a strong Q1'25 performance, there remains significant uncertainty regarding IRA repeal and tariffs, affecting future projections.
Pipeline Stagnation
HASI's pipeline has remained at the $5.5B level since Q1'24, with no new asset class or international transactions progressing far enough to be included.
Policy Uncertainty
There are several uncertainties now at play, including the lingering possibility of more aggressive IRA repeal, which could impact HASI's growth.

HASI (HASI) vs. SPDR S&P 500 ETF (SPY)

HASI Business Overview & Revenue Model

Company DescriptionHannon Armstrong Sustainable Infrastructure Capital, Inc. provides capital and services to the energy efficiency, renewable energy, and other sustainable infrastructure markets in the United States. The company's projects include building or facility that reduce energy usage or cost through the use of solar generation and energy storage or energy efficiency improvements, including heating, ventilation, and air conditioning systems (HVAC), as well as lighting, energy controls, roofs, windows, building shells, and/or combined heat and power systems. It also focuses in the areas of grid connected projects that deploy cleaner energy sources, such as solar and wind to generate power; and other sustainable infrastructure projects, including upgraded transmission or distribution systems, water and storm water infrastructures, and other projects. The company qualifies as a real estate investment trust for U.S. federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1981 and is headquartered in Annapolis, Maryland.
How the Company Makes MoneyHASI generates revenue through a diverse range of financial products and services tailored to support climate-positive projects. The company earns money primarily through interest and principal repayments on debt investments, rental income from owned assets, and income from equity investments. HASI often enters into long-term contracts with its clients, which provides a stable and predictable income stream. Additionally, the company leverages its expertise in the sustainable infrastructure sector to form strategic partnerships, enhancing its investment opportunities and expanding its market reach. Through these financial activities, HASI capitalizes on the growing demand for environmentally sustainable projects and infrastructure, thereby driving its profitability.

HASI Earnings Call Summary

Earnings Call Date:May 07, 2025
(Q1-2025)
|
% Change Since: 6.58%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Positive
The earnings call reflects a strong quarter with record-breaking new investments and solid financial performance, despite existing market and policy uncertainties. The company's robust liquidity, strategic partnerships, and reaffirmed growth guidance highlight its resilience and positive outlook. However, some challenges remain, such as lower gain on sale income and macroeconomic uncertainties.
Q1-2025 Updates
Positive Updates
Record-Breaking New Investments
HASI closed over $700 million of new investments in Q1 2025, marking the most active first quarter of new originations in the company's history, with an average yield greater than 10.5%.
Strong Liquidity Position
The company has over $1.3 billion in available liquidity, which is crucial for capitalizing on investment opportunities during periods of market volatility.
Ongoing Growth and Resilience
Adjusted earnings per share grew to $0.64, and HASI reaffirmed its guidance of 8% to 10% compound annual growth in adjusted EPS through 2027, citing a robust business model resilient to economic cycles.
Successful Co-Investment Vehicle with KKR
The CCH1 co-investment vehicle with KKR has a funded balance of $1 billion, and its investment period has been extended until Q4 2026.
12% Increase in Managed Assets
Managed assets increased by 12% year-over-year, driven by significant investments in residential solar and public sector energy efficiency.
Reaffirmed Investment Grade Rating
Moody’s recently reaffirmed HASI’s investment grade rating, highlighting the company's strong financial position.
Negative Updates
Market and Policy Uncertainty
Despite strong performance, HASI operates under heightened policy and economic uncertainty, with a GDP contraction in Q1 2025 and increased likelihood of a 2025 recession.
Lower Gain on Sale Income
Gain on sale and other income were lower at $24 million compared to $30 million in the previous year due to higher than normal activity in the prior year.
Company Guidance
During HASI's first quarter 2025 earnings call, the company provided guidance indicating robust business activity with a record first quarter of new originations totaling over $700 million at an average yield exceeding 10.5%. They reported an adjusted earnings per share of $0.64 and maintained a strong liquidity position with over $1.3 billion available. HASI reaffirmed their guidance for 8% to 10% compound annual growth in adjusted EPS through 2027, attributing their resilience to a diverse funding strategy, including their CCH1 partnership, investment-grade ratings, and a supportive bank group. Despite macroeconomic uncertainties, including tariffs and potential recessions, the company anticipates minimal impact on their operations. They highlighted a 12% year-over-year increase in managed assets and noted that their pipeline remains strong across various sectors, driven by increasing demand for clean energy solutions.

HASI Financial Statement Overview

Summary
HASI shows strong revenue growth and profitability with impressive margins. The balance sheet is solid, reflecting a robust equity position and zero debt, enhancing financial stability. However, cash flow indicates areas needing improvement, particularly in sustaining free cash flow growth.
Income Statement
78
Positive
HASI has shown a solid improvement in revenue, with a 19.89% growth from the previous year. The gross profit margin is strong at 78.83%, and the net profit margin is robust at 52.14%. EBIT and EBITDA margins both stand at an impressive 70.21%. The company demonstrates strong profitability metrics, indicating efficient operations, although the historical negative gross profit figures call for careful future analysis.
Balance Sheet
72
Positive
The balance sheet reflects a strong equity position with an equity ratio of 33.96%, indicating a stable financial structure. HASI has no total debt as of the latest report, significantly improving its debt-to-equity ratio, which is now zero. The return on equity (ROE) is healthy at 8.32%, suggesting effective use of equity capital. The company’s financial stability is bolstered by the absence of debt, but historical leverage must be monitored.
Cash Flow
65
Positive
Cash flow analysis reveals a significant decrease in free cash flow from the previous year, impacting the growth rate negatively. However, the operating cash flow to net income ratio is positive at 0.03, and the free cash flow to net income ratio is manageable at 0.03. Overall, the cash flow position shows potential for improvement despite current constraints.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue82.35B383.60M319.87M155.47M217.88M142.69M
Gross Profit65.04B382.59M255.53M92.02M164.91M104.92M
EBITDA8.85M274.83M224.24M146.36M140.28M0.00
Net Income133.62M200.04M148.84M41.50M126.58M82.42M
Balance Sheet
Total Assets2.52B7.08B6.55B4.76B4.15B3.46B
Cash, Cash Equivalents and Short-Term Investments173.03M129.76M74.63M155.71M226.20M286.25M
Total Debt1.44B4.40B4.23B2.98B2.49B2.19B
Total Liabilities1.49B4.68B4.41B3.10B2.58B2.25B
Stockholders Equity1.03B2.34B2.09B1.63B1.54B1.20B
Cash Flow
Free Cash Flow-52.20M5.85M99.69M230.00K13.31M73.28M
Operating Cash Flow-52.20M5.85M99.69M230.00K13.31M73.28M
Investing Cash Flow-384.91M-131.19M-1.99B-592.11M-703.40M-831.65M
Financing Cash Flow443.43M200.41M1.79B516.78M630.84M962.12M

HASI Technical Analysis

Technical Analysis Sentiment
Positive
Last Price27.05
Price Trends
50DMA
25.97
Positive
100DMA
26.41
Positive
200DMA
27.82
Negative
Market Momentum
MACD
0.34
Negative
RSI
56.42
Neutral
STOCH
32.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HASI, the sentiment is Positive. The current price of 27.05 is above the 20-day moving average (MA) of 26.47, above the 50-day MA of 25.97, and below the 200-day MA of 27.82, indicating a neutral trend. The MACD of 0.34 indicates Negative momentum. The RSI at 56.42 is Neutral, neither overbought nor oversold. The STOCH value of 32.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HASI.

HASI Risk Analysis

HASI disclosed 56 risk factors in its most recent earnings report. HASI 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

HASI Peers Comparison

Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
EPEPR
77
Outperform
$4.46B35.696.25%6.04%0.69%-19.22%
NHNHI
76
Outperform
$3.28B22.3010.56%5.12%7.44%4.23%
71
Outperform
$3.23B26.565.73%6.29%5.09%-49.85%
BNBNL
69
Neutral
$3.01B26.793.79%7.29%0.73%-37.65%
PCPCH
64
Neutral
$3.17B66.662.31%4.46%10.86%6.72%
63
Neutral
$3.37B-2.06%9.57%-20.46%-1436.71%
59
Neutral
C$1.24B-0.04-8.19%5.03%10.83%-22.67%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HASI
HASI
27.05
-3.35
-11.02%
NHI
National Health Investors
70.28
1.78
2.60%
PCH
PotlatchDeltic
40.56
2.82
7.47%
EPR
EPR Properties
58.97
19.38
48.95%
BXMT
Blackstone Mortgage
19.79
2.62
15.26%
BNL
Broadstone Net Lease
15.86
0.33
2.12%

HASI Corporate Events

Private Placements and FinancingBusiness Operations and Strategy
HASI Upsizes Tender Offers for Senior Notes
Neutral
Jun 27, 2025

On June 27, 2025, HA Sustainable Infrastructure Capital, Inc. (HASI) announced the early results and upsizing of its cash tender offers for its outstanding 3.375% Senior Notes due 2026 and 8.00% Green Senior Unsecured Notes due 2027. The company increased the maximum aggregate principal amount from $500 million to $700 million and raised the series cap for the 3.375% Senior Notes from $250 million to $400 million. The tender offers saw $920,279,000 in aggregate principal amount of notes tendered by the early deadline, with the company not expecting to accept further tenders beyond the $700 million threshold. This move is part of HASI’s strategy to manage its debt and optimize its financial structure, potentially impacting its market positioning and stakeholder relations.

The most recent analyst rating on (HASI) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on HASI stock, see the HASI Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
HASI Issues $1 Billion in Green Senior Notes
Positive
Jun 24, 2025

On June 24, 2025, HA Sustainable Infrastructure Capital, Inc. issued $1 billion in green senior unsecured notes, with maturities in 2031 and 2035, to fund cash tender offers and temporarily repay borrowings. The proceeds will support new and existing green projects, enhancing the company’s commitment to sustainable infrastructure. The notes are senior unsecured obligations, with specific terms for redemption and guarantees, impacting the company’s financial strategy and market positioning.

The most recent analyst rating on (HASI) stock is a Buy with a $42.00 price target. To see the full list of analyst forecasts on HASI stock, see the HASI Stock Forecast page.

Private Placements and Financing
HASI Announces $1 Billion Green Notes Issuance
Positive
Jun 18, 2025

On June 12, 2025, HA Sustainable Infrastructure Capital, Inc. announced an agreement to issue $1 billion in Green Senior Unsecured Notes, with $600 million due in 2031 and $400 million due in 2035. The proceeds from this issuance will be used to fund cash tender offers for existing notes, repay outstanding borrowings, and invest in eligible green projects, reinforcing the company’s commitment to sustainable investments.

The most recent analyst rating on (HASI) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on HASI stock, see the HASI Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
HASI Announces $500M Cash Tender Offer for Notes
Positive
Jun 12, 2025

On June 12, 2025, HA Sustainable Infrastructure Capital, Inc. announced a cash tender offer to purchase up to $500 million of its outstanding senior notes due in 2026 and 2027. This strategic financial move aims to optimize the company’s capital structure and reflects its commitment to maintaining financial flexibility and supporting its growth in the sustainable infrastructure sector.

The most recent analyst rating on (HASI) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on HASI stock, see the HASI Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
HASI Expands Board with Two New Directors
Positive
Apr 14, 2025

On April 8, 2025, HA Sustainable Infrastructure Capital, Inc. announced the election of Barry E. Welch and Laura A. Schulte as new independent directors to its Board of Directors, effective April 15, 2025. This expansion of the board by two directors is expected to enhance the company’s strategic direction, with Mr. Welch bringing extensive experience in renewable energy and finance, and Ms. Schulte offering significant expertise in the banking industry. Both directors are considered independent under NYSE standards and will contribute to various board committees, potentially strengthening the company’s governance and operational oversight.

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.Date of analysis: Jun 25, 2025