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Hannon Armstrong Sustainable Infrastructure Capital Inc (HASI)



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Upturn Advisory Summary
10/10/2025: HASI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $38.93
1 Year Target Price $38.93
10 | Strong Buy |
4 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -50.44% | Avg. Invested days 26 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 3.67B USD | Price to earnings Ratio 18.66 | 1Y Target Price 38.93 |
Price to earnings Ratio 18.66 | 1Y Target Price 38.93 | ||
Volume (30-day avg) 16 | Beta 1.62 | 52 Weeks Range 21.35 - 34.47 | Updated Date 10/12/2025 |
52 Weeks Range 21.35 - 34.47 | Updated Date 10/12/2025 | ||
Dividends yield (FY) 5.46% | Basic EPS (TTM) 1.58 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 222.39% | Operating Margin (TTM) -402.51% |
Management Effectiveness
Return on Assets (TTM) 2.95% | Return on Equity (TTM) 8.56% |
Valuation
Trailing PE 18.66 | Forward PE 10.74 | Enterprise Value 8347359744 | Price to Sales(TTM) 39.68 |
Enterprise Value 8347359744 | Price to Sales(TTM) 39.68 | ||
Enterprise Value to Revenue 21.02 | Enterprise Value to EBITDA - | Shares Outstanding 124346724 | Shares Floating 121775004 |
Shares Outstanding 124346724 | Shares Floating 121775004 | ||
Percent Insiders 1.98 | Percent Institutions 109.07 |
Upturn AI SWOT
Hannon Armstrong Sustainable Infrastructure Capital Inc

Company Overview
History and Background
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) was founded in 1981 as Hannon Armstrong & Company. In 2013, it went public as a REIT focused on sustainable infrastructure investments. Over time, it has evolved to specialize in providing capital to companies in the energy efficiency, renewable energy, and other sustainable infrastructure markets.
Core Business Areas
- Behind-the-Meter: Financing projects that reduce energy consumption or increase energy efficiency at commercial, industrial, and residential properties, such as energy-efficient building retrofits and solar panel installations.
- Grid-Connected: Financing renewable energy projects connected to the electrical grid, including solar, wind, and energy storage projects.
- Sustainable Infrastructure: Financing essential infrastructure projects, such as climate resilience projects and water and energy infrastructure upgrades.
Leadership and Structure
The CEO is Jeffrey W. Eckel. The organizational structure includes various teams focusing on origination, underwriting, asset management, and finance, operating as a Real Estate Investment Trust (REIT).
Top Products and Market Share
Key Offerings
- Financing for Renewable Energy Projects: Provides debt and equity financing for solar, wind, and other renewable energy projects. Competitors include solar developers like NextEra Energy Partners (NEP) and renewable energy project financiers like Brookfield Renewable Partners (BEP). Market share is hard to specifically quantify, but HASI is a significant player in its niche.
- Energy Efficiency Investments: Offers capital for energy efficiency improvements in buildings and infrastructure. Competitors in this area include Johnson Controls (JCI) and Trane Technologies (TT). Market share information is not readily available, but HASI is a specialist financing this type of work.
- Sustainable Infrastructure Solutions: Offers financing for infrastructure resilience projects and water/energy efficiency projects. Competitors include companies that specialize in infrastructure development. Again, market share numbers are unavailable.
Market Dynamics
Industry Overview
The sustainable infrastructure industry is experiencing significant growth due to increasing awareness of climate change, government incentives, and technological advancements. Investment is flowing heavily into this space.
Positioning
HASI is positioned as a leading provider of capital for sustainable infrastructure projects, benefiting from its specialized expertise and strong relationships with developers and project owners. It has a reputation for being innovative in finding projects to finance.
Total Addressable Market (TAM)
The estimated TAM for sustainable infrastructure investments is trillions of dollars globally. HASI is well-positioned to capture a significant portion of this market, but faces strong competition from larger financial institutions, developers, and asset managers.
Upturn SWOT Analysis
Strengths
- Specialized expertise in sustainable infrastructure financing
- Strong relationships with developers and project owners
- REIT structure providing tax advantages
- First-mover advantage in certain niche markets
Weaknesses
- Relatively small size compared to larger financial institutions
- Dependence on government incentives and regulations
- Exposure to interest rate risk
- Complex accounting related to their investments.
Opportunities
- Growing demand for sustainable infrastructure investments
- Expansion into new geographic markets
- Development of new financing products and services
- Increased public and private sector funding for climate-related projects
Threats
- Increased competition from larger financial institutions
- Changes in government policies and regulations
- Economic downturn impacting project development
- Technological disruptions in the renewable energy sector
Competitors and Market Share
Key Competitors
- NextEra Energy Partners (NEP)
- Brookfield Renewable Partners (BEP)
- Clearway Energy (CWEN)
Competitive Landscape
HASI benefits from specialized expertise in financing sustainable infrastructure, giving it an advantage over general financial institutions. However, its smaller size can limit its ability to compete with larger, more diversified competitors.
Major Acquisitions
None Reported
- Year: 2024
- Acquisition Price (USD millions): 0
- Strategic Rationale: N/A
Growth Trajectory and Initiatives
Historical Growth: HASI has experienced growth in its investment portfolio and revenue as the sustainable infrastructure market has expanded. Actual rates vary each year.
Future Projections: Analysts project continued growth for HASI, driven by increasing demand for sustainable infrastructure. Check analyst reports from major firms.
Recent Initiatives: HASI continually invests in and expands to projects that contribute to a sustainable future.
Summary
Hannon Armstrong is a specialized REIT focused on a growing market. Its expertise is a competitive advantage, but its smaller size poses challenges. Changes in regulations or increased competition could impact its growth. The company's performance depends heavily on the continued expansion of the sustainable infrastructure market, as well as the overall health of the financial markets and the interest rate environment.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings (SEC)
- Financial News Outlets
- Analyst Reports
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. Investment decisions should be based on thorough research and consultation with a qualified financial advisor. Market share percentages are approximate and subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Hannon Armstrong Sustainable Infrastructure Capital Inc
Exchange NYSE | Headquaters Annapolis, MD, United States | ||
IPO Launch date 2013-04-18 | President, CEO & Director Mr. Jeffrey A. Lipson | ||
Sector Financial Services | Industry Asset Management | Full time employees 153 | Website https://www.hasi.com |
Full time employees 153 | Website https://www.hasi.com |
HA Sustainable Infrastructure Capital, Inc., through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, commercial and government receivables, real estate, and debt securities. It invests in climate solution, including Behind-the-Meter that distributes energy projects which reduce energy usage or cost through heating, ventilation, and air conditioning systems, as well as lighting, energy controls, roofs, windows, building shells, and/or combined heat and power systems; Grid-Connected, a renewable energy projects that deploy cleaner energy sources, such as solar, solar-plus-storage, and wind to generate power production; 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 comprising renewable natural gas plants, transportation fleet enhancements, 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.

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