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HA Sustainable Infrastructure Capital (HASI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · HA Sustainable Infrastructure Capital (HASI) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $114M · 128¢ of every $1 of revenue kept as net profit · operating margin 166.5%
HA Sustainable Infrastructure Capital made $114M in Q3 2026 (+11% Y/Y). Operating margin 166.5%, net earnings $146M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $114.5M in Q3 2026, up 11% year over year and down 5% from the previous quarter.
Operating profit was $190.6M, a 166.5% margin (up 50.6 points year over year). Of the extra revenue versus Q3 2025, 624% reached operating profit, above the 116% margin then. Net earnings were $146.5M, up 76% year over year ($142.2M including minority interests, which bore $4.3M of losses). The effective tax rate was 25.4%.
Operating cash flow was $56.2M, 40% of net income including minority interests. Non-cash charges added back $221K of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items used $89.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $114M | +11% | 166.5% | $146M | $56.2M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $121M | +41% | 156.3% | $129M | $68.0M |
| Q1 2026 | 10-Q | May 8, 2026 | $124M | +28% | -84.1% | −$73.7M | $15.6M |
| Q4 2025 | 10-K | Feb 13, 2026 | $115M | +13% | -57.4% | −$54.6M | $247M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $103M | +26% | 115.9% | $83.3M | −$122M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $85.7M | -9% | 161.0% | $98.4M | $79.6M |
| Q1 2025 | 10-Q | May 8, 2025 | $96.9M | -8% | 84.7% | $56.6M | −$37.1M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About HA Sustainable Infrastructure Capital
HASI is an investor in sustainable infrastructure assets advancing the energy transition. Our investment strategy is focused on actively partnering with clients to deploy capital primarily in income-generating real assets that are supported by long-term recurring cash flows. This strategy has enabled us to generate attractive risk-adjusted returns and provide stockholders with diversified exposure to the energy transition. We are internally managed by an executive team that has extensive relevant industry knowledge and experience, and oversees a team of over 170 full-time investment, operating, and technical professionals. We have long-standing, programmatic relationships with some of the leading U.S.
In its own words, from its 10-K, filed Feb 13, 2026.
HA Sustainable Infrastructure Capital against its Investors, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +11%. Operating margin: 166.5% against the peers' median -59.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HASI HA Sustainable Infrastructure Capital | Q3 2026 | $114M | +11% | 166.5% |
| CIM Opportunity Zone Fund, L.P. | Q2 2026 | $42.5M | +63% | -59.8% |
| MNTR Mentor Capital | Q2 2026 | $66K | -12% | -201.0% |
Source: HA Sustainable Infrastructure Capital 10-Q on SEC EDGAR · CIK 1561894 · Investors, NEC
Guidance and outlook
13F: who owns HASI and who is buying
More on HASI
- How HA Sustainable Infrastructure Capital makes money: revenue by segment
- HA Sustainable Infrastructure Capital next earnings date and what analysts expect
- HA Sustainable Infrastructure Capital stock forecast, price target and fair value
- Who owns HA Sustainable Infrastructure Capital stock: holders, funds and Congress trades
- HA Sustainable Infrastructure Capital guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results