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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) and VINCE HOLDING CORP. (VNCE). 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 $85.1M, roughly 1.3× VINCE HOLDING CORP.). VINCE HOLDING CORP. runs the higher net margin — 3.2% vs -46.8%, a 50.0% gap on every dollar of revenue. On growth, HA Sustainable Infrastructure Capital, Inc. posted the faster year-over-year revenue change (13.3% vs 6.2%). Over the past eight quarters, VINCE HOLDING CORP.'s revenue compounded faster (6.3% 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.
VINCE. is a contemporary clothing fashion brand founded in 2002. In 2023 Authentic Brands Group purchased its intellectual property in a $76.5 million deal.
HASI vs VNCE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $85.1M |
| Net Profit | $-53.8M | $2.7M |
| Gross Margin | — | 49.2% |
| Operating Margin | -57.4% | 6.4% |
| Net Margin | -46.8% | 3.2% |
| Revenue YoY | 13.3% | 6.2% |
| Net Profit YoY | -176.7% | -37.3% |
| EPS (diluted) | $-0.38 | $0.21 |
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 | $85.1M | ||
| Q3 25 | $103.1M | $73.2M | ||
| Q2 25 | $85.7M | $57.9M | ||
| Q1 25 | $96.9M | $80.0M | ||
| Q4 24 | $101.3M | $80.2M | ||
| Q3 24 | $82.0M | $74.2M | ||
| Q2 24 | $94.5M | $59.2M | ||
| Q1 24 | $105.8M | $75.3M |
| Q4 25 | $-53.8M | $2.7M | ||
| Q3 25 | $83.3M | $12.1M | ||
| Q2 25 | $98.4M | $-4.8M | ||
| Q1 25 | $56.6M | $-28.3M | ||
| Q4 24 | $70.1M | $4.3M | ||
| Q3 24 | $-19.6M | $569.0K | ||
| Q2 24 | $26.5M | $4.4M | ||
| Q1 24 | $123.0M | $-4.7M |
| Q4 25 | — | 49.2% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 50.1% | ||
| Q4 24 | — | 50.0% | ||
| Q3 24 | — | 47.4% | ||
| Q2 24 | — | 50.6% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | -57.4% | 6.4% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | 84.7% | -37.1% | ||
| Q4 24 | 90.9% | 7.2% | ||
| Q3 24 | -32.1% | 1.5% | ||
| Q2 24 | 39.5% | 9.5% | ||
| Q1 24 | — | -2.2% |
| Q4 25 | -46.8% | 3.2% | ||
| Q3 25 | 80.8% | 16.5% | ||
| Q2 25 | 114.9% | -8.3% | ||
| Q1 25 | 58.4% | -35.5% | ||
| Q4 24 | 69.2% | 5.4% | ||
| Q3 24 | -23.9% | 0.8% | ||
| Q2 24 | 28.1% | 7.4% | ||
| Q1 24 | 116.3% | -6.2% |
| Q4 25 | $-0.38 | $0.21 | ||
| Q3 25 | $0.61 | $0.93 | ||
| Q2 25 | $0.74 | $-0.37 | ||
| Q1 25 | $0.44 | $-2.25 | ||
| Q4 24 | $0.58 | $0.34 | ||
| Q3 24 | $-0.17 | $0.05 | ||
| Q2 24 | $0.23 | $0.35 | ||
| 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 | $1.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $53.4M |
| Total Assets | $8.2B | $246.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | $1.1M | ||
| Q3 25 | $301.8M | $777.0K | ||
| Q2 25 | $86.5M | $2.6M | ||
| Q1 25 | $67.4M | $607.0K | ||
| Q4 24 | $129.8M | $892.0K | ||
| Q3 24 | $44.1M | $711.0K | ||
| Q2 24 | $145.7M | $739.0K | ||
| Q1 24 | $61.4M | $357.0K |
| Q4 25 | $2.7B | $53.4M | ||
| Q3 25 | $2.7B | $49.3M | ||
| Q2 25 | $2.6B | $37.2M | ||
| Q1 25 | $2.5B | $41.8M | ||
| Q4 24 | $2.4B | $57.1M | ||
| Q3 24 | $2.3B | $52.4M | ||
| Q2 24 | $2.3B | $51.7M | ||
| Q1 24 | $2.3B | $47.2M |
| Q4 25 | $8.2B | $246.0M | ||
| Q3 25 | $8.2B | $239.0M | ||
| Q2 25 | $7.6B | $218.0M | ||
| Q1 25 | $7.5B | $222.7M | ||
| Q4 24 | $7.1B | $254.7M | ||
| Q3 24 | $6.7B | $253.6M | ||
| Q2 24 | $6.7B | $223.1M | ||
| Q1 24 | $6.7B | $225.1M |
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 | $-5.1M |
| Free Cash FlowOCF − Capex | — | $-5.7M |
| FCF MarginFCF / Revenue | — | -6.7% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | — | -1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $-5.1M | ||
| Q3 25 | $-121.8M | $4.2M | ||
| Q2 25 | $79.6M | $-11.8M | ||
| Q1 25 | $-37.1M | $22.7M | ||
| Q4 24 | $5.9M | $6.4M | ||
| Q3 24 | $21.9M | $-3.2M | ||
| Q2 24 | $-24.8M | $-3.9M | ||
| Q1 24 | $20.9M | $14.8M |
| Q4 25 | — | $-5.7M | ||
| Q3 25 | — | $2.1M | ||
| Q2 25 | — | $-13.2M | ||
| Q1 25 | — | $21.2M | ||
| Q4 24 | — | $5.1M | ||
| Q3 24 | — | $-3.9M | ||
| Q2 24 | — | $-4.6M | ||
| Q1 24 | — | $14.2M |
| Q4 25 | — | -6.7% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | -22.9% | ||
| Q1 25 | — | 26.5% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | -5.2% | ||
| Q2 24 | — | -7.8% | ||
| Q1 24 | — | 18.9% |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 0.7% |
| Q4 25 | — | -1.86× | ||
| Q3 25 | -1.46× | 0.35× | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | -0.66× | — | ||
| Q4 24 | 0.08× | 1.48× | ||
| Q3 24 | — | -5.61× | ||
| Q2 24 | -0.94× | -0.89× | ||
| 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.
VNCE
| Vince Wholesale | $52.0M | 61% |
| Vince Direct To Consumer | $33.1M | 39% |
