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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) and Nextpower Inc. (NXT). Click either name above to swap in a different company.
Nextpower Inc. is the larger business by last-quarter revenue ($909.4M vs $114.8M, roughly 7.9× HA Sustainable Infrastructure Capital, Inc.). Nextpower Inc. runs the higher net margin — 14.4% vs -46.8%, a 61.3% gap on every dollar of revenue. On growth, Nextpower Inc. posted the faster year-over-year revenue change (33.9% vs 13.3%). Over the past eight quarters, Nextpower Inc.'s revenue compounded faster (11.1% 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.
Nextpower Inc. (NXT) is a global energy technology provider based in Fremont, California.
HASI vs NXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $909.4M |
| Net Profit | $-53.8M | $131.2M |
| Gross Margin | — | 31.7% |
| Operating Margin | -57.4% | 19.4% |
| Net Margin | -46.8% | 14.4% |
| Revenue YoY | 13.3% | 33.9% |
| Net Profit YoY | -176.7% | 13.8% |
| EPS (diluted) | $-0.38 | $0.85 |
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 | $909.4M | ||
| Q3 25 | $103.1M | $905.3M | ||
| Q2 25 | $85.7M | $864.3M | ||
| Q1 25 | $96.9M | $924.3M | ||
| Q4 24 | $101.3M | $679.4M | ||
| Q3 24 | $82.0M | $635.6M | ||
| Q2 24 | $94.5M | $719.9M | ||
| Q1 24 | $105.8M | $736.5M |
| Q4 25 | $-53.8M | $131.2M | ||
| Q3 25 | $83.3M | $146.9M | ||
| Q2 25 | $98.4M | $157.2M | ||
| Q1 25 | $56.6M | $156.8M | ||
| Q4 24 | $70.1M | $115.3M | ||
| Q3 24 | $-19.6M | $115.4M | ||
| Q2 24 | $26.5M | $121.7M | ||
| Q1 24 | $123.0M | $205.2M |
| Q4 25 | — | 31.7% | ||
| Q3 25 | — | 32.4% | ||
| Q2 25 | — | 32.6% | ||
| Q1 25 | — | 33.1% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | — | 33.0% | ||
| Q1 24 | — | 46.2% |
| Q4 25 | -57.4% | 19.4% | ||
| Q3 25 | — | 20.0% | ||
| Q2 25 | — | 21.5% | ||
| Q1 25 | 84.7% | 21.1% | ||
| Q4 24 | 90.9% | 22.1% | ||
| Q3 24 | -32.1% | 21.0% | ||
| Q2 24 | 39.5% | 22.2% | ||
| Q1 24 | — | 36.8% |
| Q4 25 | -46.8% | 14.4% | ||
| Q3 25 | 80.8% | 16.2% | ||
| Q2 25 | 114.9% | 18.2% | ||
| Q1 25 | 58.4% | 17.0% | ||
| Q4 24 | 69.2% | 17.0% | ||
| Q3 24 | -23.9% | 18.2% | ||
| Q2 24 | 28.1% | 16.9% | ||
| Q1 24 | 116.3% | 27.9% |
| Q4 25 | $-0.38 | $0.85 | ||
| Q3 25 | $0.61 | $0.97 | ||
| Q2 25 | $0.74 | $1.04 | ||
| Q1 25 | $0.44 | $1.05 | ||
| Q4 24 | $0.58 | $0.79 | ||
| Q3 24 | $-0.17 | $0.79 | ||
| Q2 24 | $0.23 | $0.84 | ||
| Q1 24 | $0.98 | $1.52 |
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 | $952.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $2.2B |
| Total Assets | $8.2B | $3.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | $952.6M | ||
| Q3 25 | $301.8M | $845.3M | ||
| Q2 25 | $86.5M | $743.4M | ||
| Q1 25 | $67.4M | $766.1M | ||
| Q4 24 | $129.8M | $693.5M | ||
| Q3 24 | $44.1M | $561.9M | ||
| Q2 24 | $145.7M | $471.9M | ||
| Q1 24 | $61.4M | $474.1M |
| Q4 25 | $2.7B | $2.2B | ||
| Q3 25 | $2.7B | $2.0B | ||
| Q2 25 | $2.6B | $1.8B | ||
| Q1 25 | $2.5B | $1.6B | ||
| Q4 24 | $2.4B | $1.4B | ||
| Q3 24 | $2.3B | $1.3B | ||
| Q2 24 | $2.3B | $1.1B | ||
| Q1 24 | $2.3B | $961.0M |
| Q4 25 | $8.2B | $3.8B | ||
| Q3 25 | $8.2B | $3.7B | ||
| Q2 25 | $7.6B | $3.4B | ||
| Q1 25 | $7.5B | $3.2B | ||
| Q4 24 | $7.1B | $3.0B | ||
| Q3 24 | $6.7B | $2.8B | ||
| Q2 24 | $6.7B | $2.6B | ||
| Q1 24 | $6.7B | $2.5B |
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 | $123.3M |
| Free Cash FlowOCF − Capex | — | $118.5M |
| FCF MarginFCF / Revenue | — | 13.0% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $587.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $123.3M | ||
| Q3 25 | $-121.8M | $186.9M | ||
| Q2 25 | $79.6M | $81.3M | ||
| Q1 25 | $-37.1M | $237.3M | ||
| Q4 24 | $5.9M | $143.8M | ||
| Q3 24 | $21.9M | $153.8M | ||
| Q2 24 | $-24.8M | $120.8M | ||
| Q1 24 | $20.9M | $111.5M |
| Q4 25 | — | $118.5M | ||
| Q3 25 | — | $171.4M | ||
| Q2 25 | — | $70.1M | ||
| Q1 25 | — | $227.2M | ||
| Q4 24 | — | $134.9M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $118.0M | ||
| Q1 24 | — | $109.2M |
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 18.9% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | 24.6% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 16.4% | ||
| Q1 24 | — | 14.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | — | 0.94× | ||
| Q3 25 | -1.46× | 1.27× | ||
| Q2 25 | 0.81× | 0.52× | ||
| Q1 25 | -0.66× | 1.51× | ||
| Q4 24 | 0.08× | 1.25× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | -0.94× | 0.99× | ||
| Q1 24 | 0.17× | 0.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HASI
Segment breakdown not available.
NXT
| Transferred Over Time | $763.9M | 84% |
| Transferred At Point In Time | $145.4M | 16% |
