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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) and Vital Farms, Inc. (VITL). Click either name above to swap in a different company.
Vital Farms, Inc. is the larger business by last-quarter revenue ($213.6M vs $114.8M, roughly 1.9× HA Sustainable Infrastructure Capital, Inc.). Vital Farms, Inc. runs the higher net margin — 7.6% vs -46.8%, a 54.5% gap on every dollar of revenue. On growth, Vital Farms, Inc. posted the faster year-over-year revenue change (28.7% vs 13.3%). Over the past eight quarters, Vital Farms, Inc.'s revenue compounded faster (20.2% 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.
Vital Tomosi Dairy Limited is a dairy processing company in Uganda. The company is a joint venture between Vital Capital Fund, "an impact investing fund primarily focused on Sub-Saharan Africa", and "Tomosi Dairy Farms, a Ugandan producer of dairy products".
HASI vs VITL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $213.6M |
| Net Profit | $-53.8M | $16.3M |
| Gross Margin | — | 35.8% |
| Operating Margin | -57.4% | 10.0% |
| Net Margin | -46.8% | 7.6% |
| Revenue YoY | 13.3% | 28.7% |
| Net Profit YoY | -176.7% | 54.3% |
| EPS (diluted) | $-0.38 | $0.35 |
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 | $213.6M | ||
| Q3 25 | $103.1M | $198.9M | ||
| Q2 25 | $85.7M | $184.8M | ||
| Q1 25 | $96.9M | $162.2M | ||
| Q4 24 | $101.3M | $166.0M | ||
| Q3 24 | $82.0M | $145.0M | ||
| Q2 24 | $94.5M | $147.4M | ||
| Q1 24 | $105.8M | $147.9M |
| Q4 25 | $-53.8M | $16.3M | ||
| Q3 25 | $83.3M | $16.4M | ||
| Q2 25 | $98.4M | $16.6M | ||
| Q1 25 | $56.6M | $16.9M | ||
| Q4 24 | $70.1M | $10.6M | ||
| Q3 24 | $-19.6M | $7.4M | ||
| Q2 24 | $26.5M | $16.3M | ||
| Q1 24 | $123.0M | $19.0M |
| Q4 25 | — | 35.8% | ||
| Q3 25 | — | 37.7% | ||
| Q2 25 | — | 38.9% | ||
| Q1 25 | — | 38.5% | ||
| Q4 24 | — | 36.1% | ||
| Q3 24 | — | 36.9% | ||
| Q2 24 | — | 39.1% | ||
| Q1 24 | — | 39.8% |
| Q4 25 | -57.4% | 10.0% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | 84.7% | 13.4% | ||
| Q4 24 | 90.9% | 7.8% | ||
| Q3 24 | -32.1% | 6.4% | ||
| Q2 24 | 39.5% | 11.6% | ||
| Q1 24 | — | 16.3% |
| Q4 25 | -46.8% | 7.6% | ||
| Q3 25 | 80.8% | 8.3% | ||
| Q2 25 | 114.9% | 9.0% | ||
| Q1 25 | 58.4% | 10.4% | ||
| Q4 24 | 69.2% | 6.4% | ||
| Q3 24 | -23.9% | 5.1% | ||
| Q2 24 | 28.1% | 11.1% | ||
| Q1 24 | 116.3% | 12.9% |
| Q4 25 | $-0.38 | $0.35 | ||
| Q3 25 | $0.61 | $0.36 | ||
| Q2 25 | $0.74 | $0.36 | ||
| Q1 25 | $0.44 | $0.37 | ||
| Q4 24 | $0.58 | $0.23 | ||
| Q3 24 | $-0.17 | $0.16 | ||
| Q2 24 | $0.23 | $0.36 | ||
| Q1 24 | $0.98 | $0.43 |
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 | $48.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $351.3M |
| Total Assets | $8.2B | $518.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | $48.8M | ||
| Q3 25 | $301.8M | $93.8M | ||
| Q2 25 | $86.5M | $108.2M | ||
| Q1 25 | $67.4M | $156.3M | ||
| Q4 24 | $129.8M | $150.6M | ||
| Q3 24 | $44.1M | $149.5M | ||
| Q2 24 | $145.7M | $133.2M | ||
| Q1 24 | $61.4M | $113.8M |
| Q4 25 | $2.7B | $351.3M | ||
| Q3 25 | $2.7B | $331.2M | ||
| Q2 25 | $2.6B | $309.8M | ||
| Q1 25 | $2.5B | $288.9M | ||
| Q4 24 | $2.4B | $269.3M | ||
| Q3 24 | $2.3B | $253.4M | ||
| Q2 24 | $2.3B | $238.4M | ||
| Q1 24 | $2.3B | $213.3M |
| Q4 25 | $8.2B | $518.7M | ||
| Q3 25 | $8.2B | $481.5M | ||
| Q2 25 | $7.6B | $430.8M | ||
| Q1 25 | $7.5B | $376.9M | ||
| Q4 24 | $7.1B | $359.3M | ||
| Q3 24 | $6.7B | $344.7M | ||
| Q2 24 | $6.7B | $320.5M | ||
| Q1 24 | $6.7B | $300.2M |
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 | $5.8M |
| Free Cash FlowOCF − Capex | — | $-32.1M |
| FCF MarginFCF / Revenue | — | -15.1% |
| Capex IntensityCapex / Revenue | — | 17.8% |
| Cash ConversionOCF / Net Profit | — | 0.35× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-48.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $5.8M | ||
| Q3 25 | $-121.8M | $23.4M | ||
| Q2 25 | $79.6M | $-761.0K | ||
| Q1 25 | $-37.1M | $5.3M | ||
| Q4 24 | $5.9M | $14.8M | ||
| Q3 24 | $21.9M | $10.0M | ||
| Q2 24 | $-24.8M | $16.1M | ||
| Q1 24 | $20.9M | $23.9M |
| Q4 25 | — | $-32.1M | ||
| Q3 25 | — | $-10.6M | ||
| Q2 25 | — | $-7.6M | ||
| Q1 25 | — | $2.1M | ||
| Q4 24 | — | $-3.4M | ||
| Q3 24 | — | $6.4M | ||
| Q2 24 | — | $10.5M | ||
| Q1 24 | — | $22.6M |
| Q4 25 | — | -15.1% | ||
| Q3 25 | — | -5.3% | ||
| Q2 25 | — | -4.1% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | -2.0% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 7.2% | ||
| Q1 24 | — | 15.3% |
| Q4 25 | — | 17.8% | ||
| Q3 25 | — | 17.1% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | — | 0.35× | ||
| Q3 25 | -1.46× | 1.43× | ||
| Q2 25 | 0.81× | -0.05× | ||
| Q1 25 | -0.66× | 0.31× | ||
| Q4 24 | 0.08× | 1.40× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | -0.94× | 0.99× | ||
| Q1 24 | 0.17× | 1.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HASI
Segment breakdown not available.
VITL
| Eggs And Egg Related Products | $205.8M | 96% |
| Butter And Butter Related Products | $7.7M | 4% |
