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Side-by-side financial comparison of GCL Global Holdings Ltd (GCL) and HA Sustainable Infrastructure Capital, Inc. (HASI). Click either name above to swap in a different company.
HA Sustainable Infrastructure Capital, Inc. is the larger business by last-quarter revenue ($114.8M vs $98.7M, roughly 1.2× GCL Global Holdings Ltd). GCL Global Holdings Ltd runs the higher net margin — -5.2% vs -46.8%, a 41.7% gap on every dollar of revenue.
GCL Global Holdings Ltd is a leading clean energy enterprise focusing on R&D, production and operation of photovoltaic products, energy storage systems and low-carbon energy solutions. Its main markets cover Asia, Europe, North America, serving utility, commercial and residential distributed energy users across the globe.
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
GCL vs HASI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $98.7M | $114.8M |
| Net Profit | $-5.1M | $-53.8M |
| Gross Margin | 11.0% | — |
| Operating Margin | -6.7% | -57.4% |
| Net Margin | -5.2% | -46.8% |
| Revenue YoY | — | 13.3% |
| Net Profit YoY | — | -176.7% |
| EPS (diluted) | $-0.04 | $-0.38 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $114.8M | ||
| Q3 25 | $98.7M | $103.1M | ||
| Q2 25 | $142.1M | $85.7M | ||
| Q1 25 | — | $96.9M | ||
| Q4 24 | — | $101.3M | ||
| Q3 24 | $36.1M | $82.0M | ||
| Q2 24 | — | $94.5M | ||
| Q1 24 | — | $105.8M |
| Q4 25 | — | $-53.8M | ||
| Q3 25 | $-5.1M | $83.3M | ||
| Q2 25 | $5.6M | $98.4M | ||
| Q1 25 | — | $56.6M | ||
| Q4 24 | — | $70.1M | ||
| Q3 24 | $-1.9M | $-19.6M | ||
| Q2 24 | — | $26.5M | ||
| Q1 24 | — | $123.0M |
| Q4 25 | — | — | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -57.4% | ||
| Q3 25 | -6.7% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | — | 84.7% | ||
| Q4 24 | — | 90.9% | ||
| Q3 24 | -5.6% | -32.1% | ||
| Q2 24 | — | 39.5% | ||
| Q1 24 | — | — |
| Q4 25 | — | -46.8% | ||
| Q3 25 | -5.2% | 80.8% | ||
| Q2 25 | 3.9% | 114.9% | ||
| Q1 25 | — | 58.4% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | -5.2% | -23.9% | ||
| Q2 24 | — | 28.1% | ||
| Q1 24 | — | 116.3% |
| Q4 25 | — | $-0.38 | ||
| Q3 25 | $-0.04 | $0.61 | ||
| Q2 25 | $0.05 | $0.74 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | — | $-0.17 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | — | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $16.6M | $110.2M |
| Total DebtLower is stronger | $52.0M | — |
| Stockholders' EquityBook value | $33.1M | $2.7B |
| Total Assets | $159.9M | $8.2B |
| Debt / EquityLower = less leverage | 1.57× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $110.2M | ||
| Q3 25 | $16.6M | $301.8M | ||
| Q2 25 | $18.2M | $86.5M | ||
| Q1 25 | — | $67.4M | ||
| Q4 24 | — | $129.8M | ||
| Q3 24 | $2.7M | $44.1M | ||
| Q2 24 | — | $145.7M | ||
| Q1 24 | — | $61.4M |
| Q4 25 | — | — | ||
| Q3 25 | $52.0M | — | ||
| Q2 25 | $11.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $2.7B | ||
| Q3 25 | $33.1M | $2.7B | ||
| Q2 25 | $35.9M | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $15.9M | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
| Q4 25 | — | $8.2B | ||
| Q3 25 | $159.9M | $8.2B | ||
| Q2 25 | $101.6M | $7.6B | ||
| Q1 25 | — | $7.5B | ||
| Q4 24 | — | $7.1B | ||
| Q3 24 | $49.6M | $6.7B | ||
| Q2 24 | — | $6.7B | ||
| Q1 24 | — | $6.7B |
| Q4 25 | — | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-4.8M | $167.3M |
| Free Cash FlowOCF − Capex | $-5.2M | — |
| FCF MarginFCF / Revenue | -5.3% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $167.3M | ||
| Q3 25 | $-4.8M | $-121.8M | ||
| Q2 25 | $-10.3M | $79.6M | ||
| Q1 25 | — | $-37.1M | ||
| Q4 24 | — | $5.9M | ||
| Q3 24 | $6.1M | $21.9M | ||
| Q2 24 | — | $-24.8M | ||
| Q1 24 | — | $20.9M |
| Q4 25 | — | — | ||
| Q3 25 | $-5.2M | — | ||
| Q2 25 | $-10.5M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -5.3% | — | ||
| Q2 25 | -7.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.46× | ||
| Q2 25 | -1.84× | 0.81× | ||
| Q1 25 | — | -0.66× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.94× | ||
| Q1 24 | — | 0.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
