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Clearway Energy (CWEN.A) Financials

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Annual Income Statements for Clearway Energy

Annual Income Statements for Clearway Energy

This table shows Clearway Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 33 57 -16 48 -11 25 51 582 79 88 169
Consolidated Net Income / (Loss)		 72 2.00 -24 54 -96 -62 -75 1,060 -14 -63 -231
Net Income / (Loss) Continuing Operations		 72 2.00 -24 54 -96 -62 -75 1,060 -14 -63 -231
Total Pre-Tax Income 		84 1.00 48 116 -104 -54 -63 1,282 -16 -33 -175
Total Operating Income		 326 222 283 347 224 333 267 178 263 196 160
Total Gross Profit		 645 727 683 726 695 833 1,286 1,190 1,314 1,371 1,429
Total Revenue		 968 1,035 1,009 1,053 1,032 1,199 1,286 1,190 1,314 1,371 1,429
Operating Revenue		 968 1,035 1,009 1,053 1,032 1,199 1,286 1,190 1,314 1,371 1,429
Total Cost of Revenue		 323 308 326 327 337 366 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 319 505 400 379 471 500 1,019 1,012 1,051 1,175 1,269
Selling, General & Admin Expense		 12 16 19 20 29 34 491 475 509 540 571
Depreciation Expense		 303 303 334 336 401 428 509 512 526 627 682
Impairment Charge		 1.00 185 44 0.00 33 24 6.00 16 12 0.00 0.00
Restructuring Charge		 3.00 1.00 3.00 20 3.00 9.00 7.00 7.00 4.00 8.00 16
Total Other Income / (Expense), net		 -242 -221 -235 -231 -328 -387 -330 1,104 -279 -229 -335
Interest Expense		 276 284 310 313 420 439 365 234 343 312 395
Interest & Investment Income		 31 60 71 74 83 48 32 29 12 35 31
Other Income / (Expense), net		 3.00 3.00 4.00 8.00 9.00 4.00 3.00 1,309 52 48 29
Income Tax Expense		 12 -1.00 72 62 -8.00 8.00 12 222 -2.00 30 56
Net Income / (Loss) Attributable to Noncontrolling Interest		 39 -51 -15 2.00 -85 -87 -126 478 -93 -151 -400
Basic Earnings per Share		 $0.00 $1.16 ($0.32) $1.38 ($0.10) $0.22 $0.44 $4.99 $1.34 $1.50 $2.86
Weighted Average Basic Shares Outstanding		 0.00 35M 35M 35M 35M 115M 117M 117M 117M 118M 119M
Diluted Earnings per Share		 $0.00 $1.16 ($0.32) $1.38 ($0.10) $0.22 $0.44 $4.99 $1.34 $1.50 $2.86
Weighted Average Diluted Shares Outstanding		 0.00 35M 35M 104M 109M 35M 35M 35M 152M 153M 154M
Weighted Average Basic & Diluted Shares Outstanding		 84M 98M 99M 104M 109M 35M 35M 201.97M 202.08M 202.15M 205.22M
Cash Dividends to Common per Share		 $1.64 $1.89 $2.20 $2.52 $1.60 $2.10 $2.66 $2.86 $3.08 $3.30 $3.54

Quarterly Income Statements for Clearway Energy

This table shows Clearway Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 4.00 37 -2.00 51 36 3.00 -3.00 33 236 -104 -163
Consolidated Net Income / (Loss)		 15 -73 -46 4.00 27 -48 -104 12 60 -199 -68
Net Income / (Loss) Continuing Operations		 15 -73 -46 4.00 27 -48 -104 12 60 -199 -68
Total Pre-Tax Income 		72 -142 -59 14 60 -48 -104 17 29 -117 -70
Total Operating Income		 94 -22 -29 84 178 -37 0.00 85 112 -37 20
Total Gross Profit		 371 249 263 366 486 256 298 392 429 310 354
Total Revenue		 371 249 263 366 486 256 298 392 429 310 354
Operating Revenue		 371 - - 366 486 - 298 392 429 - 354
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 277 271 292 282 308 293 298 307 317 347 334
Selling, General & Admin Expense		 143 121 137 126 144 133 132 142 138 159 145
Depreciation Expense		 133 137 154 153 164 156 163 163 176 180 182
Restructuring Charge		 1.00 1.00 1.00 3.00 0.00 4.00 3.00 2.00 3.00 8.00 7.00
Total Other Income / (Expense), net		 -22 -120 -30 -70 -118 -11 -104 -68 -83 -80 -90
Interest Expense		 48 141 58 90 139 25 116 83 105 91 103
Interest & Investment Income		 11 1.00 12 8.00 13 2.00 5.00 7.00 15 4.00 5.00
Other Income / (Expense), net		 15 20 16 12 8.00 12 7.00 8.00 7.00 7.00 8.00
Income Tax Expense		 57 -69 -13 10 33 - 0.00 5.00 -31 82 -2.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 11 -110 -44 -47 -9.00 -51 -101 -21 -176 -95 95
Basic Earnings per Share		 $0.06 $1.29 ($0.04) $0.86 $0.62 $0.81 ($0.04) $0.56 $4.00 ($1.76) ($2.70)
Weighted Average Basic Shares Outstanding		 117M 117M 117M 117M 118M 118M 118M 118M 118M 119M 121M
Diluted Earnings per Share		 $0.06 $0.62 ($0.04) $0.86 $0.62 $0.06 ($0.04) $0.56 $4.00 ($1.76) ($2.70)
Weighted Average Diluted Shares Outstanding		 117M 152M 117M 117M 118M 153M 118M 118M 118M 154M 121M
Weighted Average Basic & Diluted Shares Outstanding		 202.08M 202.08M 202.14M 202.14M 202.15M 202.15M 202.19M 202.19M 203.77M 205.22M 205.27M
Cash Dividends to Common per Share		 $0.78 $0.79 $0.81 $0.82 $0.83 $0.84 $0.86 $0.88 $0.89 $0.91 $0.92

Annual Cash Flow Statements for Clearway Energy

This table details how cash moves in and out of Clearway Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -319 244 -182 267 -166 48 189 342 55 -318 85
Net Cash From Operating Activities		 425 577 517 498 477 545 701 787 702 770 688
Net Cash From Continuing Operating Activities		 425 577 517 498 477 545 701 787 702 770 688
Net Income / (Loss) Continuing Operations		 72 2.00 -24 54 -96 -62 -75 1,060 -14 -63 -231
Consolidated Net Income / (Loss)		 72 2.00 -24 54 -96 -62 -75 1,060 -14 -63 -231
Depreciation Expense		 303 303 334 335 401 428 509 512 526 627 682
Amortization Expense		 71 96 95 94 95 105 160 186 196 196 202
Non-Cash Adjustments To Reconcile Net Income		 30 189 60 3.00 10 67 81 -1,252 51 19 25
Changes in Operating Assets and Liabilities, net		 -51 -13 52 12 67 7.00 26 281 -57 -9.00 10
Net Cash From Investing Activities		 -1,098 -131 -442 -185 -468 -62 -865 1,065 -523 -725 -803
Net Cash From Continuing Investing Activities		 -1,098 -131 -442 -185 -468 -62 -865 1,065 -523 -725 -803
Purchase of Property, Plant & Equipment		 -29 -20 -190 -83 -228 -124 -151 -112 -212 -287 -319
Acquisitions		 -1,137 -83 -73 -45 -113 -11 -762 -71 -73 -678 -642
Purchase of Investments		 - - 0.00 0.00 -29 - - 0.00 -174 184 0.00
Sale of Property, Plant & Equipment		 - - 0.00 0.00 20 90 0.00 1,457 0.00 0.00 152
Sale and/or Maturity of Investments		 42 28 47 45 56 79 47 13 14 41 15
Other Investing Activities, net		 26 -56 -226 -102 -174 -96 1.00 -222 -78 15 -9.00
Net Cash From Financing Activities		 354 -202 -257 -46 -175 -435 367 -1,510 -124 -363 200
Net Cash From Continuing Financing Activities		 354 -202 -257 -46 -175 -435 367 -1,510 -124 -363 200
Repayment of Debt		 -442 -650 -344 -914 -1,661 -1,812 -2,682 -1,533 -1,370 -1,980 -1,811
Payment of Dividends		 -96 -357 -225 -238 -155 -281 -268 -361 683 1,151 744
Issuance of Debt		 293 800 265 862 1,367 1,349 2,350 324 563 466 1,219
Issuance of Common Equity		 599 5.00 47 244 274 309 967 60 0.00 0.00 48
Cash Interest Paid		 279 271 297 292 313 325 337 317 304 324 348
Cash Income Taxes Paid		 - - - - - 0.00 0.00 9.00 31 1.00 1.00

Quarterly Cash Flow Statements for Clearway Energy

This table details how cash moves in and out of Clearway Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 238 -105 -88 -393 104 59 -22 75 -145 177 -138
Net Cash From Operating Activities		 287 206 81 196 301 192 95 191 225 177 401
Net Cash From Continuing Operating Activities		 287 206 81 196 301 192 95 191 225 177 401
Net Income / (Loss) Continuing Operations		 15 -73 -46 4.00 27 -48 -104 12 60 -199 -68
Consolidated Net Income / (Loss)		 15 -73 -46 4.00 27 -48 -104 12 60 -199 -68
Depreciation Expense		 133 137 154 153 164 156 163 163 176 180 182
Amortization Expense		 35 112 50 46 83 28 91 26 31 54 23
Non-Cash Adjustments To Reconcile Net Income		 -2.00 34 2.00 -12 12 17 7.00 2.00 2.00 14 292
Changes in Operating Assets and Liabilities, net		 106 -4.00 -79 5.00 15 39 -62 -12 -44 128 -28
Net Cash From Investing Activities		 -155 -252 -203 -444 -27 -51 -46 -352 -341 -64 -441
Net Cash From Continuing Investing Activities		 -155 -252 -203 -444 -27 -51 -46 -352 -341 -64 -441
Purchase of Property, Plant & Equipment		 -34 -69 -98 -104 -35 -50 -56 -76 -81 -106 -75
Acquisitions		 89 -145 -111 111 -671 -7.00 -4.00 -284 -36 -318 -304
Sale and/or Maturity of Investments		 4.00 - 4.00 31 3.00 3.00 6.00 4.00 4.00 1.00 5.00
Other Investing Activities, net		 1.00 -79 2.00 -482 492 3.00 8.00 4.00 -228 207 -67
Net Cash From Financing Activities		 106 -59 34 -145 -170 -82 -71 236 -29 64 -98
Net Cash From Continuing Financing Activities		 106 -59 34 -145 -170 -82 -71 236 -29 64 -98
Repayment of Debt		 -84 -970 -166 -1,416 -90 -308 -63 -443 -768 -537 -684
Payment of Dividends		 -61 -387 126 1,109 -99 -1,478 -43 240 261 286 -346
Issuance of Debt		 251 270 74 162 19 211 35 439 478 267 882
Issuance of Common Equity		 - - - - - - 0.00 - - - 50

Annual Balance Sheets for Clearway Energy

This table presents Clearway Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 8,689 8,962 8,489 8,500 9,700 10,592 12,813 12,312 14,701 14,329 16,655
Total Current Assets		 416 670 482 756 608 708 1,531 1,276 1,560 1,067 1,152
Cash & Equivalents		 111 322 148 407 155 268 179 657 535 332 231
Restricted Cash		 131 176 168 176 262 197 475 339 516 401 587
Accounts Receivable		 101 95 95 104 118 143 144 153 171 164 163
Inventories, net		 36 39 39 40 40 42 37 47 55 64 75
Prepaid Expenses		 20 22 19 29 33 58 65 54 68 67 67
Other Current Assets		 0.00 - - - - 0.00 631 26 41 39 29
Plant, Property, & Equipment, net		 5,878 5,554 5,410 5,245 6,063 7,217 7,650 7,421 9,526 9,944 11,596
Total Noncurrent Assets		 2,395 2,738 2,597 2,499 3,029 2,667 3,632 3,615 3,615 3,318 3,907
Long-Term Investments		 697 1,152 1,178 1,172 1,183 741 381 364 360 309 291
Intangible Assets		 1,362 1,303 1,228 1,156 1,428 1,370 2,499 2,565 2,374 2,193 2,360
Noncurrent Deferred & Refundable Income Taxes		 170 216 128 57 92 104 95 - - 0.00 172
Other Noncurrent Operating Assets		 136 67 63 114 326 452 657 686 881 816 1,084
Total Liabilities & Shareholders' Equity		 8,689 8,962 8,489 8,500 9,700 10,592 12,813 12,312 14,701 14,329 16,655
Total Liabilities		 5,951 6,363 6,330 6,276 7,437 7,877 9,513 8,279 9,706 8,765 10,741
Total Current Liabilities		 489 505 540 704 2,057 634 1,631 617 906 718 1,018
Short-Term Debt		 264 323 339 535 1,824 384 772 322 558 430 708
Accounts Payable		 23 23 46 45 74 72 74 55 130 82 95
Accrued Expenses		 77 86 50 57 71 79 84 114 79 66 79
Other Current Liabilities		 125 73 67 23 47 55 153 72 82 87 84
Other Current Nonoperating Liabilities		 - - 38 44 41 44 548 54 57 53 52
Total Noncurrent Liabilities		 5,462 5,858 5,790 5,572 5,380 7,243 7,882 7,662 8,800 8,047 9,723
Long-Term Debt		 5,329 5,726 5,659 5,447 4,956 6,585 6,939 6,491 7,479 6,750 7,898
Capital Lease Obligations		 - - - 0.00 227 345 - 548 627 569 796
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - 0.00 13 119 127 89 45
Other Noncurrent Operating Liabilities		 133 123 131 125 197 313 930 504 567 639 984
Commitments & Contingencies		 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - 0.00 7.00 1.00 0.00 103
Total Equity & Noncontrolling Interests		 2,738 2,599 2,159 2,224 2,263 2,715 3,300 4,026 4,994 5,564 5,811
Total Preferred & Common Equity		 1,841 1,850 1,747 1,822 1,850 1,825 1,834 2,234 2,101 2,063 1,924
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,841 1,850 1,747 1,822 1,850 1,825 1,834 2,234 2,101 2,063 1,924
Common Stock		 1,856 1,880 1,844 1,898 1,937 1,923 1,873 1,762 1,733 1,806 1,716
Retained Earnings		 12 -2.00 -69 -58 -72 -84 -33 463 361 254 213
Accumulated Other Comprehensive Income / (Loss)		 -27 -28 -28 -18 -15 -14 -6.00 9.00 7.00 3.00 -5.00
Noncontrolling Interest		 897 749 412 402 413 890 1,466 1,792 2,893 3,501 3,887

Quarterly Balance Sheets for Clearway Energy

This table presents Clearway Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 12,596 12,749 12,624 13,370 14,862 14,517 14,249 14,647 16,033 16,066 16,931
Total Current Assets		 1,488 1,289 1,289 1,734 1,497 1,021 1,051 1,039 1,187 1,059 1,057
Cash & Equivalents		 793 576 547 566 478 226 292 297 260 251 325
Restricted Cash		 363 437 371 590 485 344 382 414 526 390 355
Accounts Receivable		 200 150 216 196 184 256 199 183 233 238 198
Inventories, net		 48 49 51 55 58 60 63 67 70 71 87
Prepaid Expenses		 61 50 70 61 60 84 81 54 73 87 60
Other Current Assets		 23 27 34 51 54 51 34 24 25 22 32
Plant, Property, & Equipment, net		 7,437 7,863 7,748 8,025 9,746 9,952 9,895 10,329 11,385 11,296 11,816
Total Noncurrent Assets		 3,671 3,597 3,587 3,611 3,619 3,544 3,303 3,279 3,461 3,711 4,058
Long-Term Investments		 377 346 352 373 349 321 322 300 297 301 362
Intangible Assets		 2,615 2,518 2,471 2,424 2,331 2,285 2,240 2,150 2,280 2,408 2,442
Noncurrent Deferred & Refundable Income Taxes		 0.00 - - - - - - - - 26 0.00
Other Noncurrent Operating Assets		 679 733 764 814 939 938 741 829 884 976 1,254
Total Liabilities & Shareholders' Equity		 12,596 12,749 12,624 13,370 14,862 14,517 14,249 14,647 16,033 16,066 16,931
Total Liabilities		 8,480 8,587 8,482 9,102 9,815 8,800 8,616 9,227 10,453 10,277 11,363
Total Current Liabilities		 808 638 606 844 874 701 661 684 834 687 955
Short-Term Debt		 493 366 330 522 565 412 412 392 460 342 612
Accounts Payable		 53 70 63 73 123 86 78 98 159 152 123
Accrued Expenses		 127 77 54 82 64 77 71 56 60 72 69
Other Current Liabilities		 94 89 105 126 80 71 65 101 103 85 108
Other Current Nonoperating Liabilities		 41 36 54 41 42 55 35 37 52 36 43
Total Noncurrent Liabilities		 7,672 7,949 7,876 8,258 8,941 8,099 7,955 8,543 9,619 9,590 10,408
Long-Term Debt		 6,519 6,769 6,708 6,995 7,579 6,797 6,732 7,231 8,251 8,084 8,504
Capital Lease Obligations		 - - - - 642 626 570 594 635 792 826
Noncurrent Deferred & Payable Income Tax Liabilities		 125 98 118 152 111 35 58 68 42 21 155
Other Noncurrent Operating Liabilities		 1,028 1,082 1,050 1,111 609 641 595 650 691 693 923
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 7.00 9.00 15 18 2.00 6.00 9.00 - 38 74 65
Total Equity & Noncontrolling Interests		 4,109 4,153 4,127 4,250 5,045 5,711 5,624 5,420 5,542 5,715 5,503
Total Preferred & Common Equity		 2,291 2,147 2,140 2,110 2,058 2,150 2,134 1,943 1,849 2,049 1,763
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,291 2,147 2,140 2,110 2,058 2,150 2,134 1,943 1,849 2,049 1,763
Common Stock		 1,787 1,720 1,719 1,729 1,742 1,831 1,832 1,736 1,671 1,690 1,769
Retained Earnings		 494 419 412 370 311 314 301 207 188 372 -6.00
Accumulated Other Comprehensive Income / (Loss)		 10 8.00 9.00 11 5.00 5.00 1.00 0.00 -10 -13 0.00
Noncontrolling Interest		 1,818 2,006 1,987 2,140 2,987 3,561 3,490 3,477 3,693 3,666 3,740

Annual Metrics And Ratios for Clearway Energy

This table displays calculated financial ratios and metrics derived from Clearway Energy's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 16.91% 6.92% -2.51% 4.36% -1.99% 16.18% 7.26% -7.47% 10.42% 4.34% 4.23%
EBITDA Growth		 19.97% -11.24% 14.74% 9.50% -7.02% 19.34% 7.93% 132.69% -52.54% 4.15% 0.56%
EBIT Growth		 5.45% -31.61% 27.56% 23.69% -34.37% 44.64% -19.88% 450.74% -78.82% -22.54% -22.54%
NOPAT Growth		 -5.30% 58.90% -131.87% 214.16% -2.93% 48.66% -19.82% -21.25% 25.09% -25.48% -18.37%
Net Income Growth		 -33.33% -97.22% -1,300.00% 325.00% -277.78% 35.42% -20.97% 1,513.33% -101.32% -350.00% -266.67%
EPS Growth		 0.00% 0.00% -127.59% 531.25% -107.25% 320.00% 100.00% 1,034.09% -73.15% 11.94% 90.67%
Operating Cash Flow Growth		 17.40% 35.76% -10.40% -3.68% -4.22% 14.26% 28.62% 12.27% -10.80% 9.69% -10.65%
Free Cash Flow Firm Growth		 87.72% 283.18% -80.16% 123.43% -388.19% 12.87% -59.29% 139.67% -448.59% 105.81% -1,642.30%
Invested Capital Growth		 10.99% -5.21% -4.37% -3.07% 18.72% 14.99% 18.69% -4.14% 21.98% 0.15% 15.70%
Revenue Q/Q Growth		 -5.28% -2.91% -1.46% -0.19% 0.58% 3.90% 3.04% -4.03% -1.43% 0.51% 3.93%
EBITDA Q/Q Growth		 -6.52% -22.68% 21.36% 4.67% -3.19% 4.32% -0.74% -2.06% 12.96% -7.69% 1.04%
EBIT Q/Q Growth		 -3.52% -45.78% 67.84% 11.64% -17.38% 6.65% 12.03% -2.62% -6.25% -8.61% -2.58%
NOPAT Q/Q Growth		 -21.73% 31.05% -220.32% 31.17% -17.65% 7.07% 13.14% -18.81% 609.03% -7.11% 0.00%
Net Income Q/Q Growth		 41.18% -98.55% 41.46% 12.50% 30.94% -67.57% 18.48% 0.19% -380.00% 28.41% -188.75%
EPS Q/Q Growth		 100.00% 45.00% -136.36% 105.97% 89.01% -70.27% -33.33% -45.76% 132.92% 7.91% -38.89%
Operating Cash Flow Q/Q Growth		 0.47% 3.41% 1.97% -7.78% 0.21% 0.18% 10.74% 1.03% 3.85% -1.79% -2.13%
Free Cash Flow Firm Q/Q Growth		 12.29% 200.22% -71.52% 166.04% -4,586.73% -33.89% 30.78% 4.27% -220.12% 106.09% -13.72%
Invested Capital Q/Q Growth		 24.99% -1.03% 1.22% -1.67% 13.10% 14.78% 5.09% 4.69% 19.50% -0.50% 1.12%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 66.63% 70.24% 67.69% 68.95% 67.35% 69.47% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 72.62% 60.29% 70.96% 74.45% 70.64% 72.56% 73.02% 183.61% 78.92% 78.77% 75.09%
Operating Margin		 33.68% 21.45% 28.05% 32.95% 21.71% 27.77% 20.76% 14.96% 20.02% 14.30% 11.20%
EBIT Margin		 33.99% 21.74% 28.44% 33.71% 22.58% 28.11% 21.00% 124.96% 23.97% 17.80% 13.23%
Profit (Net Income) Margin		 7.44% 0.19% -2.38% 5.13% -9.30% -5.17% -5.83% 89.08% -1.07% -4.60% -16.17%
Tax Burden Percent		 85.71% 200.00% -50.00% 46.55% 92.31% 114.81% 119.05% 82.68% 87.50% 190.91% 132.00%
Interest Burden Percent		 25.53% 0.44% 16.72% 32.68% -44.64% -16.02% -23.33% 86.21% -5.08% -13.52% -92.59%
Effective Tax Rate		 14.29% -100.00% 150.00% 53.45% 0.00% 0.00% 0.00% 17.32% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 3.98% 6.17% -2.06% 2.45% 2.21% 2.81% 1.93% 1.43% 1.64% 1.11% 0.84%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.80% -3.59% 0.56% 0.01% -2.99% -2.28% -1.99% 15.18% -1.32% -1.73% -3.70%
Return on Net Nonoperating Assets (RNNOA)		 -1.29% -6.09% 1.06% 0.02% -6.49% -5.30% -4.42% 27.48% -1.95% -2.31% -4.87%
Return on Equity (ROE)		 2.69% 0.07% -1.01% 2.46% -4.28% -2.49% -2.49% 28.91% -0.31% -1.19% -4.03%
Cash Return on Invested Capital (CROIC)		 -6.44% 11.51% 2.40% 5.57% -14.91% -11.13% -15.16% 5.66% -18.16% 0.96% -13.72%
Operating Return on Assets (OROA)		 3.98% 2.55% 3.29% 4.18% 2.56% 3.32% 2.31% 11.84% 2.33% 1.68% 1.22%
Return on Assets (ROA)		 0.87% 0.02% -0.28% 0.64% -1.05% -0.61% -0.64% 8.44% -0.10% -0.43% -1.49%
Return on Common Equity (ROCE)		 1.54% 0.05% -0.76% 2.01% -3.50% -1.84% -1.52% 16.04% -0.15% -0.47% -1.40%
Return on Equity Simple (ROE_SIMPLE)		 3.91% 0.11% -1.37% 2.96% -5.19% -3.40% -4.09% 47.45% -0.67% -3.05% 0.00%
Net Operating Profit after Tax (NOPAT)		 279 444 -142 162 157 233 187 147 184 137 112
NOPAT Margin		 28.87% 42.90% -14.02% 15.34% 15.19% 19.44% 14.53% 12.37% 14.01% 10.01% 7.84%
Net Nonoperating Expense Percent (NNEP)		 4.77% 9.76% -2.63% 2.44% 5.20% 5.09% 3.92% -13.75% 2.96% 2.85% 4.54%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 1.29% 1.35% 1.03% 0.74%
Cost of Revenue to Revenue		 33.37% 29.76% 32.31% 31.05% 32.66% 30.53% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 1.24% 1.55% 1.88% 1.90% 2.81% 2.84% 38.18% 39.92% 38.74% 39.39% 39.96%
R&D to Revenue		 0.00% 0.00% 0.00% 0.28% 0.48% 0.42% 0.47% 0.17% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 32.95% 48.79% 39.64% 35.99% 45.64% 41.70% 79.24% 85.04% 79.98% 85.70% 88.80%
Earnings before Interest and Taxes (EBIT)		 329 225 287 355 233 337 270 1,487 315 244 189
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 703 624 716 784 729 870 939 2,185 1,037 1,080 1,073
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.86 1.01 1.40 1.35 1.59 2.71 3.21 2.38 2.30 2.40 3.33
Price to Tangible Book Value (P/TBV)		 3.29 3.40 4.72 3.71 6.96 10.88 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.63 1.80 2.43 2.34 2.85 4.13 4.57 4.47 3.68 3.61 4.48
Price to Earnings (P/E)		 47.82 32.64 0.00 51.43 0.00 198.04 115.30 9.15 61.20 56.16 37.89
Dividend Yield		 7.24% 9.29% 8.28% 9.84% 5.27% 4.28% 4.56% 5.42% 6.44% 6.77% 5.63%
Earnings Yield		 2.09% 3.06% 0.00% 1.94% 0.00% 0.50% 0.87% 10.93% 1.63% 1.78% 2.64%
Enterprise Value to Invested Capital (EV/IC)		 0.96 1.00 1.10 1.09 1.14 1.35 1.33 1.30 1.22 1.23 1.31
Enterprise Value to Revenue (EV/Rev)		 7.36 6.77 7.30 6.74 8.49 9.97 10.90 11.03 11.40 11.05 13.08
Enterprise Value to EBITDA (EV/EBITDA)		 10.14 11.23 10.29 9.05 12.01 13.73 14.93 6.01 14.45 14.03 17.41
Enterprise Value to EBIT (EV/EBIT)		 21.67 31.15 25.67 19.99 37.58 35.46 51.93 8.83 47.56 62.09 98.87
Enterprise Value to NOPAT (EV/NOPAT)		 25.51 15.78 0.00 43.94 55.85 51.26 75.03 89.17 81.38 110.43 166.84
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.77 12.15 14.25 14.25 18.36 21.92 20.00 16.67 21.34 19.68 27.16
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 8.45 44.79 19.31 0.00 0.00 0.00 22.50 0.00 128.18 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.04 2.33 2.78 2.69 3.10 2.69 2.34 1.83 1.73 1.39 1.59
Long-Term Debt to Equity		 1.95 2.20 2.62 2.45 2.29 2.55 2.10 1.75 1.62 1.32 1.47
Financial Leverage		 1.62 1.70 1.88 2.01 2.17 2.33 2.22 1.81 1.48 1.33 1.32
Leverage Ratio		 3.09 3.31 3.67 3.88 4.06 4.08 3.89 3.43 2.99 2.75 2.70
Compound Leverage Factor		 0.79 0.01 0.61 1.27 -1.81 -0.65 -0.91 2.95 -0.15 -0.37 -2.50
Debt to Total Capital		 67.13% 69.95% 73.53% 72.90% 75.59% 72.93% 70.03% 64.60% 63.43% 58.21% 61.39%
Short-Term Debt to Total Capital		 3.17% 3.74% 4.16% 6.52% 19.68% 3.83% 7.01% 2.83% 4.09% 3.23% 4.62%
Long-Term Debt to Total Capital		 63.97% 66.21% 69.38% 66.38% 55.91% 69.10% 63.02% 61.78% 59.35% 54.98% 56.76%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 10.77% 8.66% 5.05% 4.90% 4.46% 8.87% 13.31% 15.79% 21.19% 26.30% 26.05%
Common Equity to Total Capital		 22.10% 21.39% 21.42% 22.20% 19.96% 18.20% 16.66% 19.61% 15.38% 15.50% 12.56%
Debt to EBITDA		 7.96 9.69 8.38 7.63 9.61 8.41 8.21 3.37 8.35 7.18 8.76
Net Debt to EBITDA		 6.62 7.05 6.29 5.39 7.42 7.02 7.11 2.75 6.99 6.21 7.73
Long-Term Debt to EBITDA		 7.58 9.18 7.90 6.95 7.11 7.97 7.39 3.22 7.82 6.78 8.10
Debt to NOPAT		 20.02 13.62 -42.39 37.03 44.69 31.38 41.26 50.01 47.06 56.48 83.95
Net Debt to NOPAT		 16.66 9.91 -31.83 26.17 34.48 26.20 35.72 40.77 39.40 48.88 74.04
Long-Term Debt to NOPAT		 19.07 12.90 -39.99 33.72 33.05 29.73 37.13 47.83 44.03 53.35 77.63
Altman Z-Score		 0.39 0.40 0.44 0.50 0.23 0.59 0.53 1.00 0.55 0.54 0.51
Noncontrolling Interest Sharing Ratio		 42.66% 30.84% 24.40% 18.57% 18.16% 26.18% 39.17% 44.52% 51.98% 60.56% 65.26%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.85 1.33 0.89 1.07 0.30 1.12 0.94 2.07 1.72 1.49 1.13
Quick Ratio		 0.47 0.86 0.47 0.73 0.13 0.65 0.20 1.31 0.97 0.69 0.39
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -453 829 165 368 -1,059 -923 -1,470 583 -2,033 118 -1,823
Operating Cash Flow to CapEx		 1,465.52% 2,885.00% 272.11% 600.00% 229.33% 1,602.94% 464.24% 0.00% 331.13% 268.29% 411.98%
Free Cash Flow to Firm to Interest Expense		 -1.64 2.92 0.53 1.17 -2.52 -2.10 -4.03 2.49 -5.93 0.38 -4.62
Operating Cash Flow to Interest Expense		 1.54 2.03 1.67 1.59 1.14 1.24 1.92 3.36 2.05 2.47 1.74
Operating Cash Flow Less CapEx to Interest Expense		 1.43 1.96 1.05 1.33 0.64 1.16 1.51 9.11 1.43 1.55 1.32
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.12 0.12 0.12 0.12 0.11 0.12 0.11 0.09 0.10 0.09 0.09
Accounts Receivable Turnover		 8.84 10.56 10.62 10.58 9.30 9.19 8.96 8.01 8.11 8.19 8.74
Inventory Turnover		 9.50 8.21 8.36 8.28 8.43 8.93 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.18 0.18 0.18 0.20 0.18 0.18 0.17 0.16 0.16 0.14 0.13
Accounts Payable Turnover		 14.36 13.39 9.45 7.19 5.66 5.01 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 41.29 34.56 34.37 34.49 39.26 39.73 40.73 45.55 45.00 44.59 41.76
Days Inventory Outstanding (DIO)		 38.42 44.44 43.67 44.09 43.32 40.89 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 25.43 27.26 38.63 50.79 64.44 72.80 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 54.28 51.74 39.40 27.79 18.14 7.81 40.73 45.55 45.00 44.59 41.76
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7,392 7,007 6,701 6,495 7,711 8,867 10,524 10,088 12,305 12,324 14,259
Invested Capital Turnover		 0.14 0.14 0.15 0.16 0.15 0.14 0.13 0.12 0.12 0.11 0.11
Increase / (Decrease) in Invested Capital		 732 -385 -306 -206 1,216 1,156 1,657 -436 2,217 19 1,935
Enterprise Value (EV)		 7,129 7,008 7,368 7,097 8,757 11,949 14,022 13,123 14,982 15,150 18,686
Market Capitalization		 1,578 1,860 2,452 2,468 2,937 4,951 5,880 5,323 4,835 4,942 6,403
Book Value per Share		 $10.07 $10.12 $9.45 $9.43 $9.57 $9.05 $9.09 $11.07 $10.40 $10.21 $9.44
Tangible Book Value per Share		 $2.62 $2.99 $2.81 $3.45 $2.18 $2.26 ($3.29) ($1.64) ($1.35) ($0.64) ($2.14)
Total Capital		 8,331 8,648 8,157 8,206 9,270 10,029 11,011 11,394 13,659 13,313 15,316
Total Debt		 5,593 6,049 5,998 5,982 7,007 7,314 7,711 7,361 8,664 7,749 9,402
Total Long-Term Debt		 5,329 5,726 5,659 5,447 5,183 6,930 6,939 7,039 8,106 7,319 8,694
Net Debt		 4,654 4,399 4,504 4,227 5,407 6,108 6,676 6,001 7,253 6,707 8,293
Capital Expenditures (CapEx)		 29 20 190 83 208 34 151 -1,345 212 287 167
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -51 -10 -35 4.00 -42 -7.00 18 -15 161 46 24
Debt-free Net Working Capital (DFNWC)		 191 488 281 587 375 458 672 981 1,212 779 842
Net Working Capital (NWC)		 -73 165 -58 52 -1,449 74 -100 659 654 349 134
Net Nonoperating Expense (NNE)		 207 442 -118 108 253 295 262 -913 198 200 343
Net Nonoperating Obligations (NNO)		 4,654 4,408 4,542 4,271 5,448 6,152 7,224 6,055 7,310 6,760 8,345
Total Depreciation and Amortization (D&A)		 374 399 429 429 496 533 669 698 722 836 884
Debt-free, Cash-free Net Working Capital to Revenue		 -5.27% -0.97% -3.47% 0.38% -4.07% -0.58% 1.40% -1.26% 12.25% 3.36% 1.68%
Debt-free Net Working Capital to Revenue		 19.73% 47.15% 27.85% 55.75% 36.34% 38.20% 52.26% 82.44% 92.24% 56.82% 58.92%
Net Working Capital to Revenue		 -7.54% 15.94% -5.75% 4.94% -140.41% 6.17% -7.78% 55.38% 49.77% 25.46% 9.38%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.80 $0.58 $0.00 $0.92 ($0.20) $0.66 $0.44 $4.99 $0.67 $2.25 $2.86
Adjusted Weighted Average Basic Shares Outstanding		 182.85M 0.00 0.00 193.40M 198.93M 201.71M 201.95M 117M 117M 118M 119M
Adjusted Diluted Earnings per Share		 $0.80 $0.00 $0.00 $0.92 ($0.20) $0.66 $0.44 $4.99 $0.67 $1.50 $2.86
Adjusted Weighted Average Diluted Shares Outstanding		 182.85M 0.00 0.00 193.40M 198.93M 116M 117M 35M 35M 153M 154M
Adjusted Basic & Diluted Earnings per Share		 $0.80 $0.58 ($0.32) $0.92 ($0.20) $0.66 $0.44 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 84M 98M 99M 104M 109M 115M 117M 201.97M 202.08M 202.15M 205.22M
Normalized Net Operating Profit after Tax (NOPAT)		 283 286 231 257 182 256 196 166 195 143 123
Normalized NOPAT Margin		 29.22% 27.59% 22.89% 24.40% 17.64% 21.37% 15.24% 13.97% 14.86% 10.42% 8.62%
Pre Tax Income Margin		 8.68% 0.10% 4.76% 11.02% -10.08% -4.50% -4.90% 107.73% -1.22% -2.41% -12.25%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.19 0.79 0.93 1.13 0.55 0.77 0.74 6.35 0.92 0.78 0.48
NOPAT to Interest Expense		 1.01 1.56 -0.46 0.52 0.37 0.53 0.51 0.63 0.54 0.44 0.28
EBIT Less CapEx to Interest Expense		 1.09 0.72 0.31 0.87 0.06 0.69 0.33 12.10 0.30 -0.14 0.06
NOPAT Less CapEx to Interest Expense		 0.91 1.49 -1.07 0.25 -0.12 0.45 0.10 6.38 -0.08 -0.48 -0.14
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 133.33% 17,850.00% -937.50% 440.74% -161.46% -453.23% -357.33% 34.06% -2,464.29% -542.86% 322.08%
Augmented Payout Ratio		 133.33% 17,850.00% -937.50% 440.74% -161.46% -453.23% -357.33% 34.06% -2,464.29% -542.86% 322.08%

Quarterly Metrics And Ratios for Clearway Energy

This table displays calculated financial ratios and metrics derived from Clearway Energy's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 205,218,918.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 205,218,918.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.79
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.12% -7.09% -8.68% -9.85% 31.00% 2.81% 13.31% 7.10% -11.73% 21.09% 18.79%
EBITDA Growth		 3.36% 92.97% -16.45% 4.61% 56.32% -35.63% 36.65% -5.05% -18.30% 13.33% -10.73%
EBIT Growth		 -0.91% -110.53% -126.00% -39.24% 70.64% -1,150.00% 153.85% -3.13% -36.02% -20.00% 300.00%
NOPAT Growth		 -77.44% -300.00% -169.05% -79.67% 309.02% -68.18% 100.00% 150.00% 189.29% 0.00% 0.00%
Net Income Growth		 -75.81% -35.19% -15.00% -95.24% 80.00% 34.25% -126.09% 200.00% 122.22% -314.58% 34.62%
EPS Growth		 -89.29% 112.94% 0.00% 30.30% 933.33% -90.32% 250.00% -34.88% 545.16% -3,033.33% -6,650.00%
Operating Cash Flow Growth		 -12.50% 14.44% 8.00% 46.27% 4.88% -6.80% 17.28% -2.55% -25.25% -7.81% 322.11%
Free Cash Flow Firm Growth		 -238.00% -603.13% -320.31% -926.48% -213.20% 97.99% 96.17% 58.98% 26.16% -4,267.26% -1,734.00%
Invested Capital Growth		 6.86% 21.98% 25.96% 27.62% 20.29% 0.15% 0.80% 9.27% 13.85% 15.70% 14.59%
Revenue Q/Q Growth		 -8.62% -32.88% 5.62% 39.16% 32.79% -47.33% 16.41% 31.54% 9.44% -27.74% 14.19%
EBITDA Q/Q Growth		 -1.77% -10.83% -22.49% 52.85% 46.78% -63.28% 64.15% 8.05% 15.60% -37.42% 14.22%
EBIT Q/Q Growth		 -31.01% -101.83% -550.00% 838.46% 93.75% -113.44% 128.00% 1,228.57% 27.96% -125.21% 193.33%
NOPAT Q/Q Growth		 -83.41% -178.64% -31.82% 218.23% 233.75% -132.33% 100.00% 0.00% 286.21% -111.18% 154.05%
Net Income Q/Q Growth		 -82.14% -586.67% 36.99% 108.70% 575.00% -277.78% -116.67% 111.54% 400.00% -431.67% 65.83%
EPS Q/Q Growth		 -90.91% 933.33% 20.00% 2,250.00% -27.91% -90.32% 0.00% 833.33% 614.29% -144.00% -53.41%
Operating Cash Flow Q/Q Growth		 114.18% -28.22% -60.68% 141.98% 53.57% -36.21% -50.52% 101.05% 17.80% -21.33% 126.55%
Free Cash Flow Firm Q/Q Growth		 -294.32% -248.04% -16.88% -4.55% 26.36% 97.76% -122.72% -1,019.00% -32.55% -32.20% 6.47%
Invested Capital Q/Q Growth		 3.34% 19.50% 2.10% 1.22% -2.60% -0.50% 2.75% 9.73% 1.48% 1.12% 1.77%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 74.66% 99.20% 73.38% 80.60% 89.09% 62.11% 87.58% 71.94% 75.99% 65.81% 65.82%
Operating Margin		 25.34% -8.84% -11.03% 22.95% 36.63% -14.45% 0.00% 21.68% 26.11% -11.94% 5.65%
EBIT Margin		 29.38% -0.80% -4.94% 26.23% 38.27% -9.77% 2.35% 23.72% 27.74% -9.68% 7.91%
Profit (Net Income) Margin		 4.04% -29.32% -17.49% 1.09% 5.56% -18.75% -34.90% 3.06% 13.99% -64.19% -19.21%
Tax Burden Percent		 20.83% 51.41% 77.97% 28.57% 45.00% 100.00% 100.00% 70.59% 206.90% 170.09% 97.14%
Interest Burden Percent		 66.06% 7,100.00% 453.85% 14.58% 32.26% 192.00% -1,485.71% 18.28% 24.37% 390.00% -250.00%
Effective Tax Rate		 79.17% 0.00% 0.00% 71.43% 55.00% 0.00% 0.00% 29.41% -106.90% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.71% -0.73% -0.88% 0.72% 1.98% -1.13% 0.00% 1.65% 5.61% -0.90% 0.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.63% -1.59% -1.27% 0.41% 1.15% -1.44% -1.41% 1.02% 3.33% -3.19% -0.58%
Return on Net Nonoperating Assets (RNNOA)		 0.86% -2.35% -1.84% 0.53% 1.49% -1.92% -1.99% 1.38% 4.39% -4.20% -0.86%
Return on Equity (ROE)		 1.57% -3.08% -2.72% 1.26% 3.47% -3.05% -1.99% 3.03% 10.00% -5.10% -0.42%
Cash Return on Invested Capital (CROIC)		 -6.37% -18.16% -21.78% -23.48% -17.12% 0.96% 0.46% -7.67% -12.10% -13.72% -12.67%
Operating Return on Assets (OROA)		 3.02% -0.08% -0.46% 2.41% 3.78% -0.92% 0.22% 2.22% 2.52% -0.89% 0.74%
Return on Assets (ROA)		 0.42% -2.85% -1.63% 0.10% 0.55% -1.77% -3.33% 0.29% 1.27% -5.92% -1.81%
Return on Common Equity (ROCE)		 0.82% -1.48% -1.24% 0.55% 1.49% -1.20% -0.76% 1.07% 3.66% -1.77% -0.14%
Return on Equity Simple (ROE_SIMPLE)		 0.24% 0.00% -0.97% -4.65% -4.12% 0.00% -6.23% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 20 -15 -20 24 80 -26 0.00 60 232 -26 14
NOPAT Margin		 5.28% -6.18% -7.72% 6.56% 16.48% -10.12% 0.00% 15.31% 54.02% -8.35% 3.95%
Net Nonoperating Expense Percent (NNEP)		 0.08% 0.86% 0.39% 0.31% 0.83% 0.31% 1.41% 0.63% 2.28% 2.29% 1.01%
Return On Investment Capital (ROIC_SIMPLE)		 - -0.11% - - - -0.19% 0.00% 0.40% 1.55% -0.17% 0.09%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 38.54% 48.59% 52.09% 34.43% 29.63% 51.95% 44.30% 36.22% 32.17% 51.29% 40.96%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 74.66% 108.84% 111.03% 77.05% 63.37% 114.45% 100.00% 78.32% 73.89% 111.94% 94.35%
Earnings before Interest and Taxes (EBIT)		 109 -2.00 -13 96 186 -25 7.00 93 119 -30 28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 277 247 193 295 433 159 261 282 326 204 233
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.78 2.30 2.08 2.13 2.70 2.40 2.96 3.31 2.66 3.33 4.56
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.82 3.68 3.32 3.67 4.22 3.61 4.09 4.27 3.96 4.48 5.41
Price to Earnings (P/E)		 69.63 61.20 55.55 50.90 47.17 56.16 61.20 80.50 19.73 37.89 893.16
Dividend Yield		 8.13% 6.44% 7.42% 7.06% 5.71% 6.77% 5.91% 5.65% 6.46% 5.63% 4.59%
Earnings Yield		 1.44% 1.63% 1.80% 1.96% 2.12% 1.78% 1.63% 1.24% 5.07% 2.64% 0.11%
Enterprise Value to Invested Capital (EV/IC)		 1.16 1.22 1.17 1.19 1.29 1.23 1.30 1.30 1.24 1.31 1.43
Enterprise Value to Revenue (EV/Rev)		 8.93 11.40 11.44 12.08 11.71 11.05 11.69 12.65 12.70 13.08 13.97
Enterprise Value to EBITDA (EV/EBITDA)		 12.97 14.45 14.73 14.88 13.65 14.03 14.29 15.96 16.44 17.41 19.85
Enterprise Value to EBIT (EV/EBIT)		 35.43 47.56 58.49 79.43 59.82 62.09 62.26 69.40 90.01 98.87 98.78
Enterprise Value to NOPAT (EV/NOPAT)		 458.53 81.38 109.67 169.76 108.14 110.43 104.36 114.49 155.90 166.84 164.63
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.61 21.34 20.82 19.60 20.37 19.68 20.96 23.25 24.84 27.16 20.87
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 128.18 285.85 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.76 1.73 1.74 1.37 1.37 1.39 1.52 1.67 1.59 1.59 1.79
Long-Term Debt to Equity		 1.64 1.62 1.63 1.30 1.30 1.32 1.44 1.59 1.53 1.47 1.68
Financial Leverage		 1.38 1.48 1.45 1.30 1.29 1.33 1.41 1.36 1.32 1.32 1.47
Leverage Ratio		 3.10 2.99 3.00 2.75 2.79 2.75 2.82 2.70 2.65 2.70 2.87
Compound Leverage Factor		 2.05 212.44 13.61 0.40 0.90 5.28 -41.89 0.49 0.65 10.53 -7.18
Debt to Total Capital		 63.78% 63.43% 63.51% 57.81% 57.80% 58.21% 60.26% 62.62% 61.42% 61.39% 64.10%
Short-Term Debt to Total Capital		 4.43% 4.09% 4.08% 3.04% 3.09% 3.23% 2.87% 3.08% 2.28% 4.62% 3.95%
Long-Term Debt to Total Capital		 59.36% 59.35% 59.43% 54.77% 54.71% 54.98% 57.38% 59.53% 59.15% 56.76% 60.15%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 18.31% 21.19% 21.61% 26.32% 26.22% 26.30% 25.50% 25.00% 24.92% 26.05% 24.53%
Common Equity to Total Capital		 17.90% 15.38% 14.88% 15.86% 15.99% 15.50% 14.25% 12.39% 13.65% 12.56% 11.37%
Debt to EBITDA		 8.19 8.35 8.78 7.73 6.59 7.18 7.15 8.23 8.68 8.76 9.51
Net Debt to EBITDA		 6.52 6.99 7.47 6.85 5.74 6.21 6.27 7.28 7.79 7.73 8.52
Long-Term Debt to EBITDA		 7.62 7.82 8.21 7.32 6.24 6.78 6.80 7.83 8.36 8.10 8.93
Debt to NOPAT		 289.51 47.06 65.37 88.13 52.23 56.48 52.17 59.08 82.30 83.95 78.90
Net Debt to NOPAT		 230.62 39.40 55.61 78.11 45.48 48.88 45.75 52.23 73.89 74.04 70.63
Long-Term Debt to NOPAT		 269.40 44.03 61.17 83.50 49.44 53.35 49.68 56.17 79.25 77.63 74.05
Altman Z-Score		 0.49 0.48 0.42 0.48 0.60 0.48 0.52 0.50 0.49 0.47 0.52
Noncontrolling Interest Sharing Ratio		 47.51% 51.98% 54.34% 56.49% 57.14% 60.56% 61.78% 64.60% 63.38% 65.26% 66.27%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.05 1.72 1.71 1.46 1.59 1.49 1.52 1.42 1.54 1.13 1.11
Quick Ratio		 1.16 0.97 0.96 0.69 0.74 0.69 0.70 0.59 0.71 0.39 0.55
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -641 -2,232 -2,609 -2,728 -2,009 -45 -100 -1,119 -1,483 -1,961 -1,834
Operating Cash Flow to CapEx		 844.12% 298.55% 82.65% 188.46% 860.00% 384.00% 169.64% 251.32% 277.78% 166.98% 534.67%
Free Cash Flow to Firm to Interest Expense		 -13.36 -15.83 -44.99 -30.31 -14.45 -1.80 -0.86 -13.48 -14.13 -21.55 -17.81
Operating Cash Flow to Interest Expense		 5.98 1.46 1.40 2.18 2.17 7.68 0.82 2.30 2.14 1.95 3.89
Operating Cash Flow Less CapEx to Interest Expense		 5.27 0.97 -0.29 1.02 1.91 5.68 0.34 1.39 1.37 0.78 3.17
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.10 0.10 0.09 0.09 0.10 0.09 0.10 0.09 0.09 0.09 0.09
Accounts Receivable Turnover		 6.73 8.11 7.72 5.29 6.91 8.19 7.66 5.86 6.29 8.74 7.80
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.17 0.16 0.15 0.14 0.15 0.14 0.14 0.13 0.13 0.13 0.13
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 54.22 45.00 47.29 68.97 52.85 44.59 47.64 62.32 58.00 41.76 46.82
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 54.22 45.00 47.29 68.97 52.85 44.59 47.64 62.32 58.00 41.76 46.82
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 10,297 12,305 12,563 12,716 12,386 12,324 12,663 13,895 14,101 14,259 14,511
Invested Capital Turnover		 0.13 0.12 0.11 0.11 0.12 0.11 0.11 0.11 0.10 0.11 0.11
Increase / (Decrease) in Invested Capital		 661 2,217 2,589 2,752 2,089 19 100 1,179 1,715 1,935 1,848
Enterprise Value (EV)		 11,906 14,982 14,740 15,092 15,972 15,150 16,436 18,112 17,461 18,686 20,743
Market Capitalization		 3,760 4,835 4,277 4,581 5,755 4,942 5,753 6,118 5,445 6,403 8,038
Book Value per Share		 $10.44 $10.40 $17.59 $10.64 $10.56 $10.21 $9.61 $9.15 $10.13 $9.44 $8.59
Tangible Book Value per Share		 ($1.55) ($1.35) ($2.33) ($0.67) ($0.52) ($0.64) ($1.02) ($2.13) ($1.78) ($2.14) ($3.31)
Total Capital		 11,785 13,659 13,833 13,552 13,347 13,313 13,637 14,926 15,007 15,316 15,510
Total Debt		 7,517 8,664 8,786 7,835 7,714 7,749 8,217 9,346 9,218 9,402 9,942
Total Long-Term Debt		 6,995 8,106 8,221 7,423 7,302 7,319 7,825 8,886 8,876 8,694 9,330
Net Debt		 5,988 7,253 7,474 6,944 6,718 6,707 7,206 8,263 8,276 8,293 8,900
Capital Expenditures (CapEx)		 34 69 98 104 35 50 56 76 81 106 75
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 256 161 225 162 128 46 36 27 73 24 34
Debt-free Net Working Capital (DFNWC)		 1,412 1,212 1,188 732 802 779 747 813 714 842 714
Net Working Capital (NWC)		 890 654 623 320 390 349 355 353 372 134 102
Net Nonoperating Expense (NNE)		 4.58 58 26 20 53 22 104 48 172 173 82
Net Nonoperating Obligations (NNO)		 6,029 7,310 7,516 6,999 6,753 6,760 7,243 8,315 8,312 8,345 8,943
Total Depreciation and Amortization (D&A)		 168 249 206 199 247 184 254 189 207 234 205
Debt-free, Cash-free Net Working Capital to Revenue		 19.20% 12.25% 17.46% 12.97% 9.38% 3.36% 2.56% 1.89% 5.31% 1.68% 2.29%
Debt-free Net Working Capital to Revenue		 105.93% 92.24% 92.16% 58.61% 58.80% 56.82% 53.13% 56.77% 51.93% 58.92% 48.08%
Net Working Capital to Revenue		 66.77% 49.77% 48.33% 25.62% 28.59% 25.46% 25.25% 24.65% 27.05% 9.38% 6.87%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.06 $1.29 ($0.04) $0.86 $0.62 $0.81 $0.06 $0.56 $4.00 ($1.76) ($2.70)
Adjusted Weighted Average Basic Shares Outstanding		 117M 117M 117M 117M 118M 118M 118M 118M 118M 119M 121M
Adjusted Diluted Earnings per Share		 $0.06 $0.62 ($0.04) $0.86 $0.62 $0.06 $0.06 $0.56 $4.00 ($1.76) ($2.70)
Adjusted Weighted Average Diluted Shares Outstanding		 117M 152M 117M 117M 118M 153M 118M 118M 118M 154M 121M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 202.08M 202.08M 202.14M 202.14M 202.15M 202.15M 202.19M 202.19M 203.77M 205.22M 205.27M
Normalized Net Operating Profit after Tax (NOPAT)		 67 -15 -20 61 125 -23 2.10 61 81 -20 19
Normalized NOPAT Margin		 17.92% -5.90% -7.45% 16.64% 25.64% -9.02% 0.70% 15.67% 18.76% -6.55% 5.34%
Pre Tax Income Margin		 19.41% -57.03% -22.43% 3.83% 12.35% -18.75% -34.90% 4.34% 6.76% -37.74% -19.77%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.27 -0.01 -0.22 1.07 1.34 -1.00 0.06 1.12 1.13 -0.33 0.27
NOPAT to Interest Expense		 0.41 -0.11 -0.35 0.27 0.58 -1.04 0.00 0.72 2.21 -0.28 0.14
EBIT Less CapEx to Interest Expense		 1.56 -0.50 -1.91 -0.09 1.09 -3.00 -0.42 0.20 0.36 -1.49 -0.46
NOPAT Less CapEx to Interest Expense		 -0.30 -0.60 -2.04 -0.89 0.32 -3.04 -0.48 -0.19 1.44 -1.45 -0.59
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 380.00% -2,464.29% -2,080.00% 787.00% 851.14% -542.86% -422.31% -1,221.24% -1,275.00% 322.08% 226.15%
Augmented Payout Ratio		 380.00% -2,464.29% -2,080.00% 787.00% 851.14% -542.86% -422.31% -1,221.24% -1,275.00% 322.08% 226.15%

Financials Breakdown Chart

Key Financial Trends

Here are the top takeaways for retail investors from Clearway Energy's recent four-year quarterly results. Items are grouped by potential impact: positive first, then neutral, then negative.

  • Consistent positive operating cash flow across the 2025 quarters (for example: Net Cash From Continuing Operating Activities roughly 95M in Q1 2025, 191M in Q2, 225M in Q3, and 177M in Q4 2025), indicating solid cash generation from core operations even amid earnings volatility.
  • Stable to rising quarterly cash dividends per share around $0.86–$0.91 in 2024–2025 (Q4 2025: 0.91; Q3 2025: 0.8912; Q2 2025: 0.8768; Q1 2025: 0.8624), offering an ongoing income stream for investors.
  • Large asset base and scale, with Total Assets near $16B in 2025 (Q3 2025: 16.066B; Q2 2025: 16.033B) and PPE net around $11–12B, suggesting substantial asset backing and depreciation benefits.
  • Occasional strong quarterly profitability for common shareholders (Q3 2025 net income attributable to common shareholders: +236M; Q2 2025: positive in several periods; even Q4 2024 showed a small positive result), showing that earnings can be positive in favorable quarters.
  • Incremental improvement in equity base over time, with Total Common Equity around $2.0B in 2025, providing a modest equity cushion relative to liabilities.
  • Revenue and earnings display quarterly volatility, reflecting asset mix and seasonality (for example, 2025 Q3 revenue around 429M versus 310M in Q4 2025), indicating earnings stability is not yet consistent.
  • Interest expense remains sizable and fluctuates by quarter (roughly 58–116M in 2025), continuing to pressure pretax results and earnings per share.
  • High leverage remains a consideration, with long-term debt typically in the several billions range (Q3 2025 long-term debt around 8.08B; Q2 2025 around 8.26B), while equity stays near $2B—indicating a pronounced debt load relative to equity.
  • Consolidated net income to common shareholders has shown material volatility, including a quarterly loss in Q4 2025 (-104M) despite prior profitable quarters, highlighting profitability risk.
  • Free cash flow has often been negative in periods due to heavy capital investments and acquisitions, raising questions about near-term free cash availability to support dividends and debt service.
05/15/26 07:28 AM ETAI Generated. May Contain Errors.

Clearway Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Clearway Energy's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Clearway Energy's net income appears to be on an upward trend, with a most recent value of -$231 million in 2025, falling from $72 million in 2015. The previous period was -$63 million in 2024. View Clearway Energy's forecast to see where analysts expect Clearway Energy to go next.

Clearway Energy's total operating income in 2025 was $160 million, based on the following breakdown:
  • Total Gross Profit: $1.43 billion
  • Total Operating Expenses: $1.27 billion

Over the last 10 years, Clearway Energy's total revenue changed from $968 million in 2015 to $1.43 billion in 2025, a change of 47.6%.

Clearway Energy's total liabilities were at $10.74 billion at the end of 2025, a 22.5% increase from 2024, and a 80.5% increase since 2015.

In the past 10 years, Clearway Energy's cash and equivalents has ranged from $111 million in 2015 to $657 million in 2022, and is currently $231 million as of their latest financial filing in 2025.

Over the last 10 years, Clearway Energy's book value per share changed from 10.07 in 2015 to 9.44 in 2025, a change of -6.2%.


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Financial statements for NYSE:CWEN.A last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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