Financials Hannon Armstrong Sustainable Infrastructure Capital, Inc.

Equities

HASI

US41068X1000

Commercial REITs

Market Closed - Nyse 04:00:02 2024-04-30 pm EDT 5-day change 1st Jan Change
25.01 USD -1.92% Intraday chart for Hannon Armstrong Sustainable Infrastructure Capital, Inc. -2.38% -9.32%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,089 4,758 4,488 2,575 3,066 2,835 - -
Enterprise Value (EV) 1 3,476 6,661 6,755 5,394 3,066 7,688 8,574 9,050
P/E ratio 26 x 57.7 x 35.2 x 61.7 x 19.4 x 19.8 x 16.8 x 15.3 x
Yield 4.16% 2.14% 2.64% - 5.73% 6.64% 6.95% 7.3%
Capitalization / Revenue 27 x 50.2 x 49.1 x 20.7 x 20.6 x 14.9 x 12.3 x 10.6 x
EV / Revenue 44.9 x 70.3 x 73.9 x 43.4 x 20.6 x 40.5 x 37.3 x 33.9 x
EV / EBITDA 98.4 x 85.8 x 153 x 23.5 x 13.7 x 26.2 x 24.8 x 19.1 x
EV / FCF 118 x 90.9 x 508 x - - 31.6 x 29.8 x -
FCF Yield 0.85% 1.1% 0.2% - - 3.16% 3.36% -
Price to Book 2.28 x 4.03 x 2.93 x 1.62 x 1.48 x 1.21 x 1.14 x 1.07 x
Nbr of stocks (in thousands) 64,925 75,010 84,496 88,839 111,169 113,343 - -
Reference price 2 32.18 63.43 53.12 28.98 27.58 25.01 25.01 25.01
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 77.34 94.72 91.46 124.2 148.9 189.6 229.6 266.6
EBITDA 1 35.32 77.62 44.11 229.6 224.4 293.1 345.6 472.7
EBIT 1 25.29 66.25 29 214 221.3 308.3 372.3 470.7
Operating Margin 32.7% 69.94% 31.7% 172.3% 148.67% 162.57% 162.13% 176.52%
Earnings before Tax (EBT) 1 90.02 79.98 144.5 49.29 182.4 195.5 233.6 280.2
Net income 1 81.56 82.42 126.6 41.5 148.8 164.4 203.7 239.6
Net margin 105.46% 87.01% 138.4% 33.42% 99.98% 86.71% 88.72% 89.87%
EPS 2 1.240 1.100 1.510 0.4700 1.420 1.262 1.490 1.632
Free Cash Flow 1 29.49 73.28 13.31 - - 243 288 -
FCF margin 38.13% 77.36% 14.55% - - 128.15% 125.42% -
FCF Conversion (EBITDA) 83.49% 94.42% 30.17% - - 82.91% 83.34% -
FCF Conversion (Net income) 36.16% 88.92% 10.51% - - 147.8% 141.36% -
Dividend per Share 2 1.340 1.360 1.400 - 1.580 1.661 1.739 1.825
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 21.53 27.38 31.82 33.98 30.59 27.78 31.88 34.43 46.56 35.99 40.68 40.77 45.81 46.68 -
EBITDA 1 43.53 -13.2 60.79 75.62 - 18.95 55.76 - 20.43 64.12 61.2 61.37 67.62 68.49 -
EBIT 1 39.69 -17.06 57.09 71.77 - 14.88 26.03 30.16 16.52 63.74 65.26 73.44 79.2 81.08 -
Operating Margin 184.34% -62.29% 179.39% 211.23% - 53.55% 81.63% 87.59% 35.48% 177.09% 160.45% 180.13% 172.87% 173.7% -
Earnings before Tax (EBT) 1 -4.349 68.47 56.7 -23.33 42.53 -26.61 26.03 11.92 16.52 127.9 43.62 50.2 51.1 55.76 -
Net income 1 -2.838 62.42 45.35 -18.45 34.53 -19.93 24.11 13.52 21.45 89.76 37.11 42.79 45.36 48.72 -
Net margin -13.18% 227.94% 142.49% -54.3% 112.88% -71.72% 75.6% 39.27% 46.06% 249.41% 91.22% 104.94% 99.01% 104.37% -
EPS 2 -0.0400 0.7100 0.5100 -0.2100 0.3800 -0.2200 0.2600 0.1400 0.2000 0.7400 0.2760 0.3220 0.3620 0.3740 -
Dividend per Share 2 0.3500 0.3500 0.3750 0.3750 0.3750 - 0.3950 0.3950 0.3950 0.3950 0.4136 0.4150 0.4150 0.4171 0.4350
Announcement Date 11/4/21 2/17/22 5/3/22 8/4/22 11/3/22 2/16/23 5/4/23 8/3/23 11/2/23 2/15/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,387 1,903 2,267 2,820 - 4,853 5,739 6,215
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 39.26 x 24.51 x 51.39 x 12.28 x - 16.56 x 16.61 x 13.15 x
Free Cash Flow 1 29.5 73.3 13.3 - - 243 288 -
ROE (net income / shareholders' equity) 10.7% 11% 11.6% 11.7% 12.5% 12.3% 13.2% 13.7%
ROA (Net income/ Total Assets) 4.08% 4.02% 4.17% 4.17% 4.11% 3.9% 3.7% -
Assets 1 1,997 2,050 3,033 995 3,625 4,216 5,506 -
Book Value Per Share 2 14.10 15.70 18.10 17.90 18.70 20.70 21.90 23.30
Cash Flow per Share 2 0.4600 1.010 0.1500 - - 1.800 2.030 2.290
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
13
Last Close Price
25.5 USD
Average target price
34.17 USD
Spread / Average Target
+33.99%
Consensus
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