Clearway Energy, Inc.CWEN
NYSE•Utilities•Utilities - Renewable
Clearway Energy, Inc. operates in the clean energy generation assets business in the United States. It operates through Flexible Generation and Renewables & Storage segments. The company's portfolio comprises approximately 12.9 GW of gross capacity in 27 states, including approximately 10.1 GW of wind, solar, and battery energy storage systems; and approximately 2.8 GW of dispatchable combustion-based power generation assets included in the Flexible Generation segment that provide critical grid reliability services. The company was formerly known as NRG Yield, Inc. and changed its name to Clearway Energy, Inc. in August 2018. Clearway Energy, Inc. was incorporated in 2012 and is based in Princeton, New Jersey. Clearway Energy, Inc. is a subsidiary of Clearway Energy Group LLC.
Clearway Energy, Inc. (CWEN) reported trailing twelve months revenue of $1.49B as of March 2026, a 5.6% increase year-over-year. Quarterly revenue reached $354.00M, reflecting continued top-line momentum.
Clearway Energy, Inc. generated $2.00M in TTM net income, with quarterly EBITDA of $202.00M. The operating margin stands at 5.6%.
The spread between operating margin (5.6%) and net margin (-46.0%) indicates significant non-operating expenses or interest burden. Net margin has narrowed from 1.3% a year ago, reflecting increased costs or interest expense.
CWEN trades at a P/E of 643.5x (a premium multiple) and a P/S of 0.9x. The price-to-book ratio of 0.2x suggests the stock trades below its book value.
The company generated $326.00M in free cash flow over the trailing twelve months, a 735.9% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $16.93B in total assets with $8.50B in long-term debt against $5.50B in stockholders equity for a debt-to-equity ratio of 1.5. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 10.8%. The business may lack pricing power or face rising costs.'
ROE is positive at ~2.2% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~18.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 8.0% — watch for continued compression, which may signal competitive or cost pressure.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 1.5 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation