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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) and iQSTEL Inc (IQST). 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 $84.2M, roughly 1.4× iQSTEL Inc). iQSTEL Inc runs the higher net margin — -3.2% vs -46.8%, a 43.6% gap on every dollar of revenue. On growth, HA Sustainable Infrastructure Capital, Inc. posted the faster year-over-year revenue change (13.3% vs -14.9%). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs 4.2%).
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.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
HASI vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $84.2M |
| Net Profit | $-53.8M | $-2.7M |
| Gross Margin | — | 3.5% |
| Operating Margin | -57.4% | -2.9% |
| Net Margin | -46.8% | -3.2% |
| Revenue YoY | 13.3% | -14.9% |
| Net Profit YoY | -176.7% | -44.5% |
| EPS (diluted) | $-0.38 | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $103.1M | $102.9M | ||
| Q2 25 | $85.7M | $72.2M | ||
| Q1 25 | $96.9M | $57.6M | ||
| Q4 24 | $101.3M | $98.9M | ||
| Q3 24 | $82.0M | $54.2M | ||
| Q2 24 | $94.5M | $78.6M | ||
| Q1 24 | $105.8M | $51.4M |
| Q4 25 | $-53.8M | $-2.7M | ||
| Q3 25 | $83.3M | $-2.3M | ||
| Q2 25 | $98.4M | $-2.3M | ||
| Q1 25 | $56.6M | $-1.1M | ||
| Q4 24 | $70.1M | $-1.9M | ||
| Q3 24 | $-19.6M | $-773.0K | ||
| Q2 24 | $26.5M | $-2.0M | ||
| Q1 24 | $123.0M | $-580.2K |
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | -57.4% | -2.9% | ||
| Q3 25 | — | -0.5% | ||
| Q2 25 | — | -0.9% | ||
| Q1 25 | 84.7% | -1.0% | ||
| Q4 24 | 90.9% | -0.3% | ||
| Q3 24 | -32.1% | -0.1% | ||
| Q2 24 | 39.5% | -0.4% | ||
| Q1 24 | — | -0.4% |
| Q4 25 | -46.8% | -3.2% | ||
| Q3 25 | 80.8% | -2.3% | ||
| Q2 25 | 114.9% | -3.3% | ||
| Q1 25 | 58.4% | -2.0% | ||
| Q4 24 | 69.2% | -1.9% | ||
| Q3 24 | -23.9% | -1.4% | ||
| Q2 24 | 28.1% | -2.5% | ||
| Q1 24 | 116.3% | -1.1% |
| Q4 25 | $-0.38 | $-0.92 | ||
| Q3 25 | $0.61 | $-0.68 | ||
| Q2 25 | $0.74 | $-0.82 | ||
| Q1 25 | $0.44 | $-0.44 | ||
| Q4 24 | $0.58 | $-1.19 | ||
| Q3 24 | $-0.17 | $-0.40 | ||
| Q2 24 | $0.23 | $-0.90 | ||
| Q1 24 | $0.98 | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $110.2M | $2.2M |
| Total DebtLower is stronger | — | $4.1M |
| Stockholders' EquityBook value | $2.7B | $16.3M |
| Total Assets | $8.2B | $51.1M |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | $2.2M | ||
| Q3 25 | $301.8M | $2.3M | ||
| Q2 25 | $86.5M | $2.0M | ||
| Q1 25 | $67.4M | $1.1M | ||
| Q4 24 | $129.8M | $2.5M | ||
| Q3 24 | $44.1M | $2.1M | ||
| Q2 24 | $145.7M | $797.2K | ||
| Q1 24 | $61.4M | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $2.7B | $16.3M | ||
| Q3 25 | $2.7B | $17.9M | ||
| Q2 25 | $2.6B | $14.3M | ||
| Q1 25 | $2.5B | $11.6M | ||
| Q4 24 | $2.4B | $11.9M | ||
| Q3 24 | $2.3B | $8.1M | ||
| Q2 24 | $2.3B | $7.6M | ||
| Q1 24 | $2.3B | $8.4M |
| Q4 25 | $8.2B | $51.1M | ||
| Q3 25 | $8.2B | $46.9M | ||
| Q2 25 | $7.6B | $51.4M | ||
| Q1 25 | $7.5B | $42.0M | ||
| Q4 24 | $7.1B | $79.0M | ||
| Q3 24 | $6.7B | $32.4M | ||
| Q2 24 | $6.7B | $30.0M | ||
| Q1 24 | $6.7B | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | $167.3M | $-1.2M |
| Free Cash FlowOCF − Capex | — | $-1.2M |
| FCF MarginFCF / Revenue | — | -1.5% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $-1.2M | ||
| Q3 25 | $-121.8M | $-953.0K | ||
| Q2 25 | $79.6M | $257.7K | ||
| Q1 25 | $-37.1M | $-1.9M | ||
| Q4 24 | $5.9M | $-403.7K | ||
| Q3 24 | $21.9M | $625.0K | ||
| Q2 24 | $-24.8M | $-2.6M | ||
| Q1 24 | $20.9M | $-536.9K |
| Q4 25 | — | $-1.2M | ||
| Q3 25 | — | $-969.2K | ||
| Q2 25 | — | $211.7K | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | — | $-421.3K | ||
| Q3 24 | — | $594.5K | ||
| Q2 24 | — | $-2.6M | ||
| Q1 24 | — | $-608.5K |
| Q4 25 | — | -1.5% | ||
| Q3 25 | — | -0.9% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | -3.4% | ||
| Q4 24 | — | -0.4% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | -3.4% | ||
| Q1 24 | — | -1.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | -1.46× | — | ||
| Q2 25 | 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.
Revenue Breakdown by Segment
HASI
Segment breakdown not available.
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
