Financials Hannon Armstrong Sustainable Infrastructure Capital, Inc.

Equities

HASI

US41068X1000

Commercial REITs

Market Closed - Nyse 04:00:02 2024-05-14 pm EDT 5-day change 1st Jan Change
31.79 USD -0.81% Intraday chart for Hannon Armstrong Sustainable Infrastructure Capital, Inc. +21.38% +15.26%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,089 4,758 4,488 2,575 3,066 3,615 - -
Enterprise Value (EV) 1 3,476 6,661 6,755 5,394 3,066 8,144 8,836 8,724
P/E ratio 26 x 57.7 x 35.2 x 61.7 x 19.4 x 18 x 21.1 x 19.7 x
Yield 4.16% 2.14% 2.64% - 5.73% 5.23% 5.48% 5.75%
Capitalization / Revenue 27 x 50.2 x 49.1 x 20.7 x 20.6 x 20.3 x 15 x 13.2 x
EV / Revenue 44.9 x 70.3 x 73.9 x 43.4 x 20.6 x 45.7 x 36.6 x 31.9 x
EV / EBITDA 98.4 x 85.8 x 153 x 23.5 x 13.7 x 28.1 x 24.9 x 21.2 x
EV / FCF 118 x 90.9 x 508 x - - 40.7 x 33 x -
FCF Yield 0.85% 1.1% 0.2% - - 2.46% 3.03% -
Price to Book 2.28 x 4.03 x 2.93 x 1.62 x 1.48 x 1.43 x 1.42 x 1.35 x
Nbr of stocks (in thousands) 64,925 75,010 84,496 88,839 111,169 113,722 - -
Reference price 2 32.18 63.43 53.12 28.98 27.58 31.79 31.79 31.79
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 91.46 124.2 148.9 178.3 241.4 273.8
EBITDA 1 35.32 77.62 44.11 229.6 224.4 289.6 354.5 411.7
EBIT 1 25.29 66.25 29 214 221.3 286.3 350.9 407.8
Operating Margin 32.7% 69.94% 31.7% 172.3% 148.67% 160.57% 145.34% 148.95%
Earnings before Tax (EBT) 1 90.02 79.98 144.5 49.29 182.4 279.5 220 266.5
Net income 1 81.56 82.42 126.6 41.5 148.8 225.6 210.8 242.4
Net margin 105.46% 87.01% 138.4% 33.42% 99.98% 126.54% 87.31% 88.56%
EPS 2 1.240 1.100 1.510 0.4700 1.420 1.766 1.506 1.610
Free Cash Flow 1 29.49 73.28 13.31 - - 200 268 -
FCF margin 38.13% 77.36% 14.55% - - 112.16% 111.01% -
FCF Conversion (EBITDA) 83.49% 94.42% 30.17% - - 69.06% 75.6% -
FCF Conversion (Net income) 36.16% 88.92% 10.51% - - 88.64% 127.14% -
Dividend per Share 2 1.340 1.360 1.400 - 1.580 1.664 1.741 1.828
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 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 2025 Q2
Net sales 1 27.38 31.82 33.98 30.59 27.78 31.88 34.43 46.56 35.99 43.94 39.44 47.02 49.95 - -
EBITDA 1 -13.2 60.79 75.62 - 18.95 55.76 - 20.43 64.12 74.66 71.83 75.37 76.62 77.6 -
EBIT 1 -17.06 57.09 71.77 - 14.88 26.03 30.16 16.52 63.74 74.32 71.04 74.61 75.9 76.91 -
Operating Margin -62.29% 179.39% 211.23% - 53.55% 81.63% 87.59% 35.48% 177.09% 169.12% 180.13% 158.69% 151.97% - -
Earnings before Tax (EBT) 1 68.47 56.7 -23.33 42.53 -26.61 26.03 11.92 16.52 127.9 170.7 42.41 46.92 51.66 52.4 -
Net income 1 62.42 45.35 -18.45 34.53 -19.93 24.11 13.52 21.45 89.76 123 30.5 37.52 39.72 - -
Net margin 227.94% 142.49% -54.3% 112.88% -71.72% 75.6% 39.27% 46.06% 249.41% 279.96% 77.34% 79.81% 79.53% - -
EPS 2 0.7100 0.5100 -0.2100 0.3800 -0.2200 0.2600 0.1400 0.2000 0.7400 0.9800 0.2412 0.3082 0.3400 - -
Dividend per Share 2 0.3500 0.3750 0.3750 0.3750 - 0.3950 0.3950 0.3950 0.3950 - 0.4156 0.4156 0.4175 0.4352 0.4350
Announcement Date 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 5/7/24 - - - - -
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 - 4,529 5,221 5,109
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 39.26 x 24.51 x 51.39 x 12.28 x - 15.64 x 14.73 x 12.41 x
Free Cash Flow 1 29.5 73.3 13.3 - - 200 268 -
ROE (net income / shareholders' equity) 10.7% 11% 11.6% 11.7% 12.5% 12.3% 13.2% 13.6%
ROA (Net income/ Total Assets) 4.08% 4.02% 4.17% 4.17% 4.11% 3.97% 3.91% -
Assets 1 1,997 2,050 3,033 995 3,625 5,681 5,386 -
Book Value Per Share 2 14.10 15.70 18.10 17.90 18.70 22.20 22.50 23.60
Cash Flow per Share 2 0.4600 1.010 0.1500 - - 0.6000 1.400 1.910
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
31.79 USD
Average target price
34.58 USD
Spread / Average Target
+8.79%
Consensus
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