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Hannon Armstrong Sustainable Infrastructure Capital Inc (HASI) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · ASSET MANAGEMENT · DATA UPDATED 2026-08-21

Hannon Armstrong Sustainable Infrastructure Capital Inc (HASI) operates in the ASSET MANAGEMENT industry and is headquartered in Annapolis, United States with about 170 employees. Its market capitalization is roughly $5 billion. In the fiscal year ended 2025-12-31, HASI reported $401M in revenue and $185M in net income.

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.

Interactive charts & full statements → Open the HASI valuation workbench →

HASI Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Total Revenue	$463M	$401M	$631M	$461M	$271M	$340M	$235M	$206M	$162M	$128M	$87M	$59M	$45M	$24M	$25M	$2M	$0M
Gross Profit	$128M	$108M	$389M	$290M	$155M	$218M	$143M	$142M	$85M	$63M	$42M	$32M	$29M	$14M	$15M	$2M	$15M
Gross Margin %	27.7%	27.0%	61.6%	62.9%	57.4%	64.2%	60.8%	68.8%	52.4%	49.0%	48.2%	55.0%	63.2%	59.2%	61.0%	100.0%	4150.1%
Operating Income (EBIT)	($17M)	($27M)	$274M	$182M	$49M	$145M	$80M	$90M	$44M	$32M	$15M	$8M	$10M	($13M)	$4M	($7M)	$14M
Operating Margin %	-3.7%	-6.8%	43.4%	39.6%	18.2%	42.5%	34.1%	43.8%	27.2%	24.9%	17.1%	13.9%	21.6%	-53.5%	15.1%	-356.6%	3810.3%
Net Income	$86M	$185M	$200M	$149M	$42M	$127M	$82M	$82M	$42M	$31M	$15M	$8M	$10M	($10M)	$4M	($5M)	$14M
Net Margin %	18.6%	46.1%	31.7%	32.3%	15.3%	37.3%	35.1%	39.6%	25.7%	24.1%	16.8%	13.6%	21.2%	-43.4%	15.1%	-256.6%	3810.3%
EBITDA	($16M)	($26M)	$275M	$186M	$53M	$148M	$84M	$94M	$48M	$35M	$23M	$12M	$12M	($12M)	$4M	($4M)	$18M
Earnings Per Share (EPS)	$0.51	$1.34	$1.53	$1.36	$0.46	$1.44	$1.11	$1.26	$0.79	$0.61	$0.36	$0.26	$0.47	$-0.67	$0.25	$-0.33	$0.93
Shares Outstanding (M)	143M	138M	131M	109M	91M	88M	74M	65M	53M	50M	40M	31M	21M	16M	15M	15M	15M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HASI Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$121M	$124M	$115M	$103M	$86M	$97M	$187M	$82M
Gross Profit	$33M	$25M	$38M	$32M	$6M	$32M	$126M	$65M
Gross Margin %	27.6%	20.1%	33.4%	30.6%	6.9%	33.3%	67.1%	79.0%
Operating Income (EBIT)	$10M	($25M)	$4M	($5M)	($20M)	($6M)	$92M	$58M
Operating Margin %	8.2%	-20.3%	3.1%	-5.0%	-23.0%	-6.1%	49.2%	70.5%
Net Income	$129M	($72M)	($54M)	$83M	$98M	$57M	$70M	($20M)
Net Margin %	106.5%	-57.9%	-46.8%	80.8%	114.9%	58.4%	37.5%	-23.9%
EBITDA	$10M	($25M)	$4M	($5M)	($19M)	($6M)	$92M	$57.8B
Earnings Per Share (EPS)	$0.90	$-0.56	$-0.43	$0.60	$0.71	$0.41	$0.51	$-0.17
Shares Outstanding (M)	143M	128M	126M	140M	138M	138M	137M	117M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HASI Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31
Cash from Operations (CFO)	$209M	$167M	$6M	$100M	$0M	$13M	$73M	$29M	$59M	$12M	$57M	$19M	$5M	($11M)	$10M	$2M	$7M
Capital Expenditures (CapEx)	$89M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$28M	$171M	$18M	$44M	$28M	$0M	$0M	$0M	$0M
Free Cash Flow (FCF)	$119M	$167M	$6M	$100M	$0M	$13M	$73M	$29M	$31M	($159M)	$39M	($25M)	($23M)	($11M)	$10M	$1M	$7M
FCF Margin %	25.8%	41.8%	0.9%	21.6%	0.1%	3.9%	31.2%	14.3%	19.3%	-124.2%	44.9%	-43.5%	-49.7%	-44.9%	37.7%	75.8%	1960.2%
Dividends Paid	$220M	$210M	$192M	$160M	$132M	$114M	$100M	$86M	$71M	$68M	$49M	$32M	$14M	$7M	$13M	$0M	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HASI Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$68M	$16M	$247M	($122M)	$91M	($37M)	($12M)	$22M
Capital Expenditures (CapEx)	$0M	$0M	$0M	$89M	$0M	$0M	$0M	$0M
Free Cash Flow (FCF)	$68M	$16M	$247M	($211M)	$91M	($37M)	($12M)	$22M
FCF Margin %	56.3%	12.6%	214.8%	-204.6%	106.7%	-38.3%	-6.5%	26.8%
Dividends Paid	$56M	$57M	$54M	$53M	$52M	$50M	$50M	$49M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HASI Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Total Assets	$8.9B	$8.2B	$7.1B	$6.6B	$4.8B	$4.1B	$3.5B	$2.4B	$2.2B	$2.2B	$1.7B	$1.5B	$1.0B	$571M	$232M	$175M
Cash & Cash Equivalents	$250M	$145M	$130M	$63M	$156M	$226M	$286M	$6M	$21M	$57M	$29M	$43M	$58M	$32M	$21M	$2M
Total Liabilities	$6.3B	$5.5B	$4.7B	$4.4B	$3.1B	$2.6B	$2.2B	$1.4B	$1.4B	$1.6B	$1.2B	$1.0B	$735M	$421M	$213M	$158M
Total Debt (Short + Long-Term)	$5.4B	$4.5B	$3.9B	$3.1B	$2.9B	$2.0B	$1.6B	$1.4B	$1.2B	$214M	$2.0B	$959M	$652M	$358M	$206M	$155M
Total Shareholders' Equity	$2.5B	$2.6B	$2.3B	$2.1B	$1.6B	$1.5B	$1.2B	$940M	$801M	$639M	$574M	$432M	$269M	$147M	$19M	$16M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive HASI viewer.

Other Companies in ASSET MANAGEMENT

STEP · Stepstone Group Inc — $6 billion
HLNE · Hamilton Lane Inc — $6 billion
MAIN · Main Street Capital Corporation — $5 billion
OTF · Blue Owl Technology Finance Corp. — $5 billion
FHI · Federated Investors Inc B — $4 billion
CNS · Cohen & Steers Inc — $4 billion
WT · WisdomTree Inc. — $3 billion
SII · Sprott Inc. — $3 billion

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