Health score, competitive moat, risk signals, and key metrics at a glance.
HA Sustainable Infrastructure Capital, Inc., through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and other sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, receivables, and debt securities. It invests in climate solutions, including Behind-the-Meter that distributes energy projects which reduce energy cost or usage that distributes energy projects which reduce energy; Grid-Connected, a renewable energy projects that deploy cleaner energy sources, such as solar, solar-plus-storage, and wind, to generate cleaner, lower cost energy; and Fuels, Transport, and Nature, a range of infrastructure assets that are designed to reduce emissions and/or provide environmental benefits in projects beyond the power grid, such as transportation and fuels, including renewable natural gas (RNG) plants, transportation fleet enhancements, and ecological restoration, and other projects. The company was formerly known as Hannon Armstrong Sustainable Infrastructure Capital, Inc. and changed its name to HA Sustainable Infrastructure Capital, Inc. in June 2024. HA Sustainable Infrastructure Capital, Inc. was founded in 1981 and is headquartered in Annapolis, Maryland.
Competitive analysis based on 51 quarters of fundamental data
Operating margins are under pressure, averaging -4.7%. The business may lack pricing power or face rising costs.'
ROE is positive at ~7.9% on average, adequate but below the threshold typically associated with wide moats.
Data-driven red flags and warnings across 51 quarters
Operating margins dropped 698.7% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.
Debt-to-equity has risen 669.8% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Shares outstanding increased 11.6% — significant dilution, likely from stock compensation or capital raises.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue shows resilience with 4 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
