HA Sustainable Infrastructure Capital (HASI) Financial Statements & Analysis

HA Sustainable Infrastructure Capital (HASI) Income Statement

HA Sustainable Infrastructure Capital reported revenue of $400.50M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 4.7% from $382.54M a year earlier. Net income was $184.55M, down 7.7% year over year, a net margin of 46.1%. Gross margin was 27.0% and operating margin -6.8%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $120.79M, up 41.0% from the same quarter a year earlier.

HA Sustainable Infrastructure Capital Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

HA Sustainable Infrastructure Capital, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	400.50	382.54	460.85	-33.90	339.59	234.87	205.76	161.56	128.28
Cost of Revenue	292.40	242.36	171.01	115.56	121.71	92.18	64.24	76.87	65.47
Gross Profit	108.10	141.23	289.84	155.47	217.88	142.69	141.51	84.68	62.80
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	123.14	32.91	31.28	29.93	19.91	14.85	14.69	15.09	11.18
Operating Expenses	135.28	115.28	107.46	106.18	73.38	62.71	51.50	40.74	30.88
Operating Income	-27.18	25.95	182.38	18.00	144.50	79.98	90.02	43.94	31.92
Other Income/Expense
Interest Income	286.36	289.85	227.05	152.56	116.58	95.56	76.20	75.94	62.23
Interest Expense	292.40	242.36	171.01	115.56	121.71	92.18	64.24	76.87	65.47
Other Income/Expense	300.67	247.88	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	273.48	273.83	182.38	49.29	144.50	79.98	90.02	43.94	31.92
Income Tax Expense	85.25	-70.20	31.62	0.16	17.16	-2.78	8.10	2.14	0.89
Net Income	184.55	200.04	148.84	-55.88	126.58	82.42	81.56	41.58	30.86
Net Income - Continuous Operations	188.24	203.63	148.84	41.50	126.58	82.42	81.56	41.58	30.86
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-26.40	1.00	185.51	19.52	148.31	83.56	93.61	48.47	35.47
EBIT	-27.18	25.95	41.40	14.26	-	-	-	-	-
Depreciation & Amortization	0.78	1.00	3.13	3.99	3.80	3.58	3.59	4.53	3.55
Earnings Per Share
Basic EPS	1.00	2.00	1.00	-	2.00	1.00	1.00	1.00	1.00
Diluted EPS	1.00	2.00	1.00	-	2.00	1.00	1.00	1.00	1.00
Basic Shares Outstanding	122.98	115.55	101.84	87.50	79.99	72.39	63.92	52.78	50.36
Diluted Shares Outstanding	138.18	130.50	109.47	90.61	87.67	74.37	64.77	52.78	50.36

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About HA Sustainable Infrastructure Capital Financial Statements

What was HA Sustainable Infrastructure Capital's revenue in fiscal 2025?

HA Sustainable Infrastructure Capital reported revenue of $400.50M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 4.7% from $382.54M a year earlier.

Is HA Sustainable Infrastructure Capital profitable?

Yes. HA Sustainable Infrastructure Capital earned net income of $184.55M in fiscal 2025, a net margin of 46.1%. In fiscal 2024 it earned $200.04M.

What is HA Sustainable Infrastructure Capital's operating margin?

HA Sustainable Infrastructure Capital's operating income was −$27.18M on revenue of $400.50M in fiscal 2025, an operating margin of -6.8%, compared with 6.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition