vs
Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) and RING ENERGY, INC. (REI). 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 $66.9M, roughly 1.7× RING ENERGY, INC.). On growth, HA Sustainable Infrastructure Capital, Inc. posted the faster year-over-year revenue change (13.3% vs -19.8%). Over the past eight quarters, HA Sustainable Infrastructure Capital, Inc.'s revenue compounded faster (4.2% CAGR vs -15.9%).
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.
Siemens Energy AG is a German publicly traded energy corporation formed through the spin-off of the former Gas and Power division of Siemens, and it includes full ownership of Siemens Gamesa.
HASI vs REI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $66.9M |
| Net Profit | $-53.8M | — |
| Gross Margin | — | — |
| Operating Margin | -57.4% | -37.6% |
| Net Margin | -46.8% | — |
| Revenue YoY | 13.3% | -19.8% |
| Net Profit YoY | -176.7% | — |
| EPS (diluted) | $-0.38 | $-0.07 |
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 | $66.9M | ||
| Q3 25 | $103.1M | $78.6M | ||
| Q2 25 | $85.7M | $82.6M | ||
| Q1 25 | $96.9M | $79.1M | ||
| Q4 24 | $101.3M | $83.4M | ||
| Q3 24 | $82.0M | $89.2M | ||
| Q2 24 | $94.5M | $99.1M | ||
| Q1 24 | $105.8M | $94.5M |
| Q4 25 | $-53.8M | — | ||
| Q3 25 | $83.3M | $-51.6M | ||
| Q2 25 | $98.4M | $20.6M | ||
| Q1 25 | $56.6M | $9.1M | ||
| Q4 24 | $70.1M | — | ||
| Q3 24 | $-19.6M | $33.9M | ||
| Q2 24 | $26.5M | $22.4M | ||
| Q1 24 | $123.0M | $5.5M |
| Q4 25 | -57.4% | -37.6% | ||
| Q3 25 | — | -70.0% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | 84.7% | 28.3% | ||
| Q4 24 | 90.9% | 28.3% | ||
| Q3 24 | -32.1% | 33.4% | ||
| Q2 24 | 39.5% | 42.2% | ||
| Q1 24 | — | 39.8% |
| Q4 25 | -46.8% | — | ||
| Q3 25 | 80.8% | -65.7% | ||
| Q2 25 | 114.9% | 25.0% | ||
| Q1 25 | 58.4% | 11.5% | ||
| Q4 24 | 69.2% | — | ||
| Q3 24 | -23.9% | 38.0% | ||
| Q2 24 | 28.1% | 22.6% | ||
| Q1 24 | 116.3% | 5.8% |
| Q4 25 | $-0.38 | $-0.07 | ||
| Q3 25 | $0.61 | $-0.25 | ||
| Q2 25 | $0.74 | $0.10 | ||
| Q1 25 | $0.44 | $0.05 | ||
| Q4 24 | $0.58 | $0.03 | ||
| Q3 24 | $-0.17 | $0.17 | ||
| Q2 24 | $0.23 | $0.11 | ||
| Q1 24 | $0.98 | $0.03 |
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 | $902.9K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $836.3M |
| Total Assets | $8.2B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | $902.9K | ||
| Q3 25 | $301.8M | $286.9K | ||
| Q2 25 | $86.5M | — | ||
| Q1 25 | $67.4M | $1.1M | ||
| Q4 24 | $129.8M | $1.9M | ||
| Q3 24 | $44.1M | — | ||
| Q2 24 | $145.7M | $1.2M | ||
| Q1 24 | $61.4M | $1.4M |
| Q4 25 | $2.7B | $836.3M | ||
| Q3 25 | $2.7B | $847.7M | ||
| Q2 25 | $2.6B | $897.9M | ||
| Q1 25 | $2.5B | $876.0M | ||
| Q4 24 | $2.4B | $858.6M | ||
| Q3 24 | $2.3B | $851.3M | ||
| Q2 24 | $2.3B | $817.4M | ||
| Q1 24 | $2.3B | $793.0M |
| Q4 25 | $8.2B | $1.4B | ||
| Q3 25 | $8.2B | $1.4B | ||
| Q2 25 | $7.6B | $1.5B | ||
| Q1 25 | $7.5B | $1.5B | ||
| Q4 24 | $7.1B | $1.4B | ||
| Q3 24 | $6.7B | $1.4B | ||
| Q2 24 | $6.7B | $1.4B | ||
| Q1 24 | $6.7B | $1.4B |
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 | $44.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $44.7M | ||
| Q3 25 | $-121.8M | $44.5M | ||
| Q2 25 | $79.6M | $33.3M | ||
| Q1 25 | $-37.1M | $28.4M | ||
| Q4 24 | $5.9M | $47.3M | ||
| Q3 24 | $21.9M | $51.3M | ||
| Q2 24 | $-24.8M | $50.6M | ||
| Q1 24 | $20.9M | $45.2M |
| Q4 25 | — | — | ||
| Q3 25 | -1.46× | — | ||
| Q2 25 | 0.81× | 1.61× | ||
| Q1 25 | -0.66× | 3.11× | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | -0.94× | 2.26× | ||
| Q1 24 | 0.17× | 8.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
