WEBULL

Is HA Sustainable Infrastructure Capital (HASI) Still Undervalued After Its Recent Share Price Momentum?

Simply Wall St · 22h ago

HA Sustainable Infrastructure Capital (HASI) has quietly reshaped its identity, leaning harder into financing climate solutions as the stock has climbed about 21% this year and roughly 30% over the past 3 years.

See our latest analysis for HA Sustainable Infrastructure Capital.

That shift in focus seems to be resonating, with a roughly 16% 3 month share price return and a 1 year total shareholder return of about 21% suggesting momentum is rebuilding after a tougher few years.

If sustainable infrastructure is on your radar, this could also be a good moment to explore fast growing stocks with high insider ownership as potential future winners.

Yet with analysts still seeing upside and the shares trading at a modest discount to estimated intrinsic value, the real question is whether HASI remains an underappreciated climate finance play or if markets already reflect its next leg of growth.

Price-to-Earnings of 13.5x: Is it justified?

HASI changes hands at $32.76, and its 13.5x price to earnings ratio points to shares that look modestly undervalued against peers and its own fair ratio.

The price to earnings multiple compares what investors pay today to the company’s current earnings power. This is a key lens for diversified financials where profit generation and capital allocation drive long term value.

For HASI, a 13.5x multiple looks restrained when set against a peer average of 28.7x and the US Diversified Financial industry at 13.6x. This suggests the market is not aggressively pricing in its faster forecast revenue growth or its strong recent profit trajectory.

Against an estimated fair price to earnings ratio of 14.2x, the current 13.5x looks conservative rather than stretched. This hints at some room for the valuation to move closer to that fair level if execution remains solid.

Explore the SWS fair ratio for HA Sustainable Infrastructure Capital

Result: Price-to-Earnings of 13.5x (UNDERVALUED).

However, setbacks such as higher funding costs or policy uncertainty on climate incentives could stall growth and keep the valuation discount firmly in place.

Find out about the key risks to this HA Sustainable Infrastructure Capital narrative.

Another View: What Our DCF Says

Our DCF model points to a fair value of about $36.19 per share, suggesting HASI is roughly 9.5% undervalued versus its current $32.76 price. That supports the earnings based case, but leaves the puzzle of why the discount still exists if growth remains on track.

Look into how the SWS DCF model arrives at its fair value.

HASI Discounted Cash Flow as at Dec 2025
HASI Discounted Cash Flow as at Dec 2025

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out HA Sustainable Infrastructure Capital for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 913 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Build Your Own HA Sustainable Infrastructure Capital Narrative

If you see the story differently or want to dig into the numbers yourself, you can build a custom narrative in just a few minutes: Do it your way.

A great starting point for your HA Sustainable Infrastructure Capital research is our analysis highlighting 5 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.