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Hannon Armstrong Sustainable Infrastructure Capital Inc (HASI)
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Upturn Advisory Summary
12/24/2024: HASI (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type: Stock | Upturn Star Rating | Today’s Advisory: PASS |
Historic Profit: -59.96% | Upturn Advisory Performance 1 | Avg. Invested days: 27 |
Profits based on simulation | Stock Returns Performance 1 | Last Close 12/24/2024 |
Type: Stock | Today’s Advisory: PASS |
Historic Profit: -59.96% | Avg. Invested days: 27 |
Upturn Star Rating | Stock Returns Performance 1 |
Profits based on simulation Last Close 12/24/2024 | Upturn Advisory Performance 1 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 3.33B USD |
Price to earnings Ratio 14.44 | 1Y Target Price 39.27 |
Dividends yield (FY) 6.02% | Basic EPS (TTM) 1.92 |
Volume (30-day avg) 1300383 | Beta 1.97 |
52 Weeks Range 20.87 - 36.56 | Updated Date 12/25/2024 |
Company Size Mid-Cap Stock | Market Capitalization 3.33B USD | Price to earnings Ratio 14.44 | 1Y Target Price 39.27 |
Dividends yield (FY) 6.02% | Basic EPS (TTM) 1.92 | Volume (30-day avg) 1300383 | Beta 1.97 |
52 Weeks Range 20.87 - 36.56 | Updated Date 12/25/2024 |
Earnings Date
Report Date - | When - |
Estimate - | Actual - |
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 157.98% | Operating Margin (TTM) -13.52% |
Management Effectiveness
Return on Assets (TTM) 3.55% | Return on Equity (TTM) 10.1% |
Valuation
Trailing PE 14.44 | Forward PE 10.5 |
Enterprise Value 7437187584 | Price to Sales(TTM) 23.95 |
Enterprise Value to Revenue 17.97 | Enterprise Value to EBITDA - |
Shares Outstanding 118792000 | Shares Floating 116637152 |
Percent Insiders 2.4 | Percent Institutions 106.01 |
Trailing PE 14.44 | Forward PE 10.5 | Enterprise Value 7437187584 | Price to Sales(TTM) 23.95 |
Enterprise Value to Revenue 17.97 | Enterprise Value to EBITDA - | Shares Outstanding 118792000 | Shares Floating 116637152 |
Percent Insiders 2.4 | Percent Institutions 106.01 |
Analyst Ratings
Rating 4.38 | Target Price 34 | Buy 4 |
Strong Buy 9 | Hold 3 | Sell - |
Strong Sell - |
Rating 4.38 | Target Price 34 | Buy 4 | Strong Buy 9 |
Hold 3 | Sell - | Strong Sell - |
AI Summarization
Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE: HASI)
Company Profile:
History and Background:
Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI) was founded in 2010 as Hannon Armstrong Co. LLC, a privately held entity. It became a publicly traded company in 2013, listing on the NYSE under the ticker symbol HASI. The company focuses on investments in sustainable infrastructure projects, providing capital to clients across renewable energy, energy efficiency, water and waste, and climate adaptation sectors.
Core Business Areas:
- Renewable Energy: HASI invests in solar, wind, biomass, and geothermal projects.
- Energy Efficiency: The company finances energy-saving upgrades for buildings and industrial facilities.
- Water and Waste: HASI invests in projects that improve water quality, reduce waste, and increase resource efficiency.
- Climate Adaptation: The company finances projects that help communities adapt to the impacts of climate change, such as sea level rise and extreme weather events.
Leadership Team:
- Jeffrey W. Eckel: Chairman and CEO
- Stephen A. Hanks: Chief Financial Officer
- John A. McNamara: Chief Investment Officer
- Jay S. Zeikel: Chief Operating Officer
Top Products and Market Share:
Products and Offerings:
- Debt Investments: HASI provides senior secured loans to finance sustainable infrastructure projects.
- Equity Investments: The company also makes minority equity investments in select projects.
- Sustainable Infrastructure Fund: HASI manages a publicly traded closed-end fund that invests exclusively in sustainable infrastructure assets.
Market Share:
- Global Market Share: It's difficult to quantify HASI's global market share for sustainable infrastructure investments due to the fragmented nature of the market.
- US Market Share: HASI is a leading player in the US sustainable infrastructure market, with approximately $8.4 billion in invested capital as of 2023.
Product Performance and Market Reception:
- Financial Performance: HASI has a strong track record of financial performance, consistently generating high returns for investors.
- Market Reception: The company's stock has outperformed the broader market, with strong investor interest in sustainable infrastructure investments.
- Comparison to Competitors: HASI compares favorably to its competitors in terms of return on equity, dividend yield, and overall financial performance.
Total Addressable Market:
The global sustainable infrastructure market is estimated to be worth over $5 trillion, with significant growth potential in the coming years. This growth is driven by factors such as increasing government support for sustainability initiatives, growing demand for renewable energy and energy efficiency, and rising awareness of climate change.
Financial Performance:
Recent Financial Statements:
- Revenue: HASI's revenue grew from $619 million in 2022 to $723 million in 2023.
- Net Income: Net income increased from $176 million in 2022 to $219 million in 2023.
- Profit Margins: Operating margins have remained stable at around 40%.
- Earnings per Share (EPS): EPS increased from $2.76 in 2022 to $3.49 in 2023.
Year-over-Year Comparison:
HASI has consistently demonstrated strong year-over-year financial performance, with revenue, net income, and EPS all showing significant growth.
Cash Flow and Balance Sheet Health:
The company has a strong cash flow position with healthy operating and free cash flow. HASI also maintains a solid balance sheet with minimal debt.
Dividends and Shareholder Returns:
Dividend History: HASI has a consistent history of paying dividends, with a current dividend yield of 3.6%. Shareholder Returns: Total shareholder returns have been impressive, with the stock price increasing by over 100% in the past five years.
Growth Trajectory:
Historical Growth: HASI has experienced significant historical growth, expanding its invested capital by over 20% annually in recent years. Future Growth Projections: The company is well-positioned for continued growth driven by the overall expansion of the sustainable infrastructure market and its strong competitive position. Recent Growth Initiatives: HASI continues to expand its product offerings and geographic reach, entering new markets and partnering with strategic allies.
Market Dynamics:
Industry Overview: The sustainable infrastructure industry is experiencing rapid growth, driven by public and private sector demand for sustainable solutions. Demand-Supply Scenarios: Demand for sustainable infrastructure investments is outpacing supply, creating opportunities for growth for companies like HASI. Technological Advancements: Technological advancements are constantly improving the efficiency and affordability of sustainable infrastructure solutions. HASI's Position: HASI is well-positioned within the industry with a strong track record, diversification across various sectors, and a robust pipeline of potential investments.
Competitors:
Key Competitors:
- Brookfield Renewable Partners L.P. (BEP)
- Clearway Energy, Inc. (CWEN)
- NextEra Energy, Inc. (NEE)
- Ørsted A/S (ORSTED)
Market Share:
- HASI's market share varies depending on the specific sector within the sustainable infrastructure market.
- The company competes effectively with its larger rivals due to its focus on specific niches and strong financial performance.
Competitive Advantages:
- First-mover advantage in the sustainable infrastructure space.
- Strong financial performance and steady dividend payouts.
- Highly experienced management team with a deep understanding of the industry.
- Diversified portfolio across various sustainable infrastructure sectors.
Potential Challenges and Opportunities:
Challenges:
- Dependence on government policies and subsidies for renewable energy and other sustainable projects.
- Rising interest rates could impact the cost of capital for project financing.
- Competition from larger players in the energy and infrastructure sectors.
Opportunities:
- Growing demand for sustainable infrastructure investments worldwide.
- Development of new technologies and solutions for the sustainable infrastructure sector.
- Strategic partnerships and acquisitions to expand market reach and offerings.
Recent Acquisitions (2020-2023):
- Sotera Solar Development, LLC: Acquired in 2021 for $70 million. This acquisition added a portfolio of distributed solar projects to HASI's holdings.
- Ameresco, Inc.: Acquired a minority stake in 2022 for $75 million. This partnership expanded HASI's reach into the energy efficiency market.
- Eolian, LLC: Acquired in 2023 for $120 million. This acquisition added a portfolio of wind energy projects to HASI's portfolio.
These acquisitions align with HASI's strategy to expand its footprint in the sustainable infrastructure market and diversify its portfolio across various sectors.
AI-Based Fundamental Rating:
Rating: 8/10
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 | Real Estate | Website | https://www.hasi.com |
Industry | Real Estate Services | Full time employees | 137 |
Headquaters | Annapolis, MD, United States | ||
President, CEO & Director | Mr. Jeffrey A. Lipson | ||
Website | https://www.hasi.com | ||
Website | https://www.hasi.com | ||
Full time employees | 137 |
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 real assets spanning high-emitting economic sectors other than 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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