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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) and VICOR CORP (VICR). 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 $113.0M, roughly 1.0× VICOR CORP). VICOR CORP runs the higher net margin — 18.3% vs -46.8%, a 65.1% gap on every dollar of revenue. On growth, VICOR CORP posted the faster year-over-year revenue change (20.2% vs 13.3%). Over the past eight quarters, VICOR CORP's revenue compounded faster (14.7% 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.
Vicor Corporation is a manufacturer of power modules headquartered in Andover, Massachusetts.
HASI vs VICR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $113.0M |
| Net Profit | $-53.8M | $20.7M |
| Gross Margin | — | — |
| Operating Margin | -57.4% | — |
| Net Margin | -46.8% | 18.3% |
| Revenue YoY | 13.3% | 20.2% |
| Net Profit YoY | -176.7% | 713.9% |
| EPS (diluted) | $-0.38 | $0.44 |
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.
| Q1 26 | — | $113.0M | ||
| Q4 25 | $114.8M | $107.3M | ||
| Q3 25 | $103.1M | $110.4M | ||
| Q2 25 | $85.7M | $96.0M | ||
| Q1 25 | $96.9M | $94.0M | ||
| Q4 24 | $101.3M | $96.2M | ||
| Q3 24 | $82.0M | $93.2M | ||
| Q2 24 | $94.5M | $85.9M |
| Q1 26 | — | $20.7M | ||
| Q4 25 | $-53.8M | $46.5M | ||
| Q3 25 | $83.3M | $28.3M | ||
| Q2 25 | $98.4M | $41.2M | ||
| Q1 25 | $56.6M | $2.5M | ||
| Q4 24 | $70.1M | $10.2M | ||
| Q3 24 | $-19.6M | $11.6M | ||
| Q2 24 | $26.5M | $-1.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 55.4% | ||
| Q3 25 | — | 57.5% | ||
| Q2 25 | — | 95.9% | ||
| Q1 25 | — | 47.2% | ||
| Q4 24 | — | 52.4% | ||
| Q3 24 | — | 49.1% | ||
| Q2 24 | — | 49.8% |
| Q1 26 | — | — | ||
| Q4 25 | -57.4% | 14.6% | ||
| Q3 25 | — | 18.9% | ||
| Q2 25 | — | 47.3% | ||
| Q1 25 | 84.7% | -0.2% | ||
| Q4 24 | 90.9% | 9.6% | ||
| Q3 24 | -32.1% | 5.8% | ||
| Q2 24 | 39.5% | 0.2% |
| Q1 26 | — | 18.3% | ||
| Q4 25 | -46.8% | 43.4% | ||
| Q3 25 | 80.8% | 25.6% | ||
| Q2 25 | 114.9% | 42.9% | ||
| Q1 25 | 58.4% | 2.7% | ||
| Q4 24 | 69.2% | 10.7% | ||
| Q3 24 | -23.9% | 12.4% | ||
| Q2 24 | 28.1% | -1.4% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | $-0.38 | $1.01 | ||
| Q3 25 | $0.61 | $0.63 | ||
| Q2 25 | $0.74 | $0.91 | ||
| Q1 25 | $0.44 | $0.06 | ||
| Q4 24 | $0.58 | $0.24 | ||
| Q3 24 | $-0.17 | $0.26 | ||
| Q2 24 | $0.23 | $-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 | $404.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $754.1M |
| Total Assets | $8.2B | $804.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $404.2M | ||
| Q4 25 | $110.2M | $402.8M | ||
| Q3 25 | $301.8M | $362.4M | ||
| Q2 25 | $86.5M | $338.5M | ||
| Q1 25 | $67.4M | $296.1M | ||
| Q4 24 | $129.8M | $277.3M | ||
| Q3 24 | $44.1M | $267.6M | ||
| Q2 24 | $145.7M | $251.9M |
| Q1 26 | — | $754.1M | ||
| Q4 25 | $2.7B | $711.6M | ||
| Q3 25 | $2.7B | $630.1M | ||
| Q2 25 | $2.6B | $608.6M | ||
| Q1 25 | $2.5B | $580.3M | ||
| Q4 24 | $2.4B | $570.1M | ||
| Q3 24 | $2.3B | $554.6M | ||
| Q2 24 | $2.3B | $537.2M |
| Q1 26 | — | $804.9M | ||
| Q4 25 | $8.2B | $785.8M | ||
| Q3 25 | $8.2B | $710.2M | ||
| Q2 25 | $7.6B | $693.5M | ||
| Q1 25 | $7.5B | $665.0M | ||
| Q4 24 | $7.1B | $641.1M | ||
| Q3 24 | $6.7B | $632.8M | ||
| Q2 24 | $6.7B | $613.2M |
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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $167.3M | $15.7M | ||
| Q3 25 | $-121.8M | $38.5M | ||
| Q2 25 | $79.6M | $65.2M | ||
| Q1 25 | $-37.1M | $20.1M | ||
| Q4 24 | $5.9M | $10.1M | ||
| Q3 24 | $21.9M | $22.6M | ||
| Q2 24 | $-24.8M | $15.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $34.5M | ||
| Q2 25 | — | $59.0M | ||
| Q1 25 | — | $15.6M | ||
| Q4 24 | — | $8.4M | ||
| Q3 24 | — | $14.1M | ||
| Q2 24 | — | $9.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.5% | ||
| Q3 25 | — | 31.2% | ||
| Q2 25 | — | 61.5% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 11.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 4.8% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 7.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.34× | ||
| Q3 25 | -1.46× | 1.36× | ||
| Q2 25 | 0.81× | 1.58× | ||
| Q1 25 | -0.66× | 7.93× | ||
| Q4 24 | 0.08× | 0.99× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | -0.94× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HASI
Segment breakdown not available.
VICR
| Product revenue | $98.0M | 87% |
| Royalty revenue | $15.0M | 13% |
