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CWEN

Clearway Energy, Inc.

CWEN

Clearway Energy, Inc. • NYSE
$36.62 ▲ 1.33% (+0.48)
Market Cap $7.46 B
52w High $36.89
52w Low $24.40
Dividend Yield 1.74%
P/E 15.58
Volume 467.00K
Outstanding Shares 203.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $433M ▲ $10M ▼ $236M ▲ 54.503% ▲ $2 ▲ $349M ▲
Q2-2025 $392M ▲ $176M ▲ $33M ▲ 8.418% ▲ $0.28 ▲ $308M ▲
Q1-2025 $298M ▲ $173M ▲ $4M ▲ 1.342% ▲ $0.03 ▲ $218M ▲
Q4-2024 $256M ▼ $170M ▼ $3M ▼ 1.172% ▼ $0.025 ▼ $176M ▼
Q3-2024 $486M $173M $36M 7.407% $0.31 $409M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $251M ▼ $16.066B ▲ $10.277B ▼ $5.715B ▲
Q2-2025 $260M ▼ $16.033B ▲ $10.453B ▲ $1.849B ▼
Q1-2025 $297M ▼ $14.647B ▲ $9.228B ▲ $1.942B ▼
Q4-2024 $332M ▲ $14.329B ▲ $8.766B ▲ $2.062B ▼
Q3-2024 $292M $14.249B $8.616B $2.134B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $60M ▲ $225M ▲ $-341M ▲ $-29M ▼ $-145M ▼ $144M ▲
Q2-2025 $12M ▲ $191M ▲ $-352M ▼ $236M ▲ $75M ▲ $115M ▲
Q1-2025 $-104M ▼ $95M ▼ $-46M ▲ $-71M ▲ $-22M ▼ $39M ▼
Q4-2024 $-48M ▼ $192M ▼ $-51M ▼ $-82M ▲ $59M ▼ $142M ▼
Q3-2024 $27M $301M $-27M $-170M $104M $266M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Capacity Revenue
Capacity Revenue
 $160.00M ▲$90.00M ▼$90.00M ▲$90.00M ▲
Energy Revenue
Energy Revenue
 $480.00M ▲$250.00M ▼$340.00M ▲$360.00M ▲
Products And Services Other
Products And Services Other
 $40.00M ▲$20.00M ▼$20.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Clearway’s revenue has grown steadily over the past five years, and its basic profitability from running the assets has been fairly consistent. The company looks more like a stable, contracted utility than a fast‑swinging commodity player. However, the bottom line has been uneven: there was one standout profit year that likely reflects special gains, while the surrounding years show only modest profits or small losses. That pattern suggests that while the underlying business is reasonably solid, reported earnings can move around due to one‑time items, financing costs, or weather and resource conditions. Overall, the income statement points to a business built for steady cash generation, but not for rapid earnings growth, and one that is sensitive to interest costs and project‑level events.

Balance Sheet

Balance Sheet The balance sheet shows a capital‑intensive utility model: large asset base, funded heavily with long‑term debt, and equity that is meaningful but much smaller than total assets. Debt levels are high relative to equity, which is common for contracted infrastructure but does add financial risk and makes the company more exposed to interest‑rate and refinancing conditions. Cash on hand is modest compared with the size of the business, so Clearway depends on reliable cash flow and access to external funding rather than a large cash cushion. Asset growth over time reflects continued project development and acquisitions, but it comes with ongoing leverage that needs to be carefully managed as markets and interest rates evolve.

Cash Flow

Cash Flow The cash flow profile is one of Clearway’s key strengths. Cash generated from operations has been steady and comfortably positive across the period, which fits with its long‑term contract model. After investing in new and existing projects, the company has still maintained positive free cash flow, even as growth and repowering spending has picked up. This indicates that day‑to‑day operations support both reinvestment and capital returns, with room to fund a meaningful portion of expansion internally. The trade‑off is that large future growth or repowering waves may still require significant external capital, so the balance between project growth, leverage, and cash distributions will remain an important area to watch.

Competitive Edge

Competitive Edge Clearway occupies a strong niche as a large, diversified owner of renewable and contracted power assets. Its long‑term power purchase agreements with utilities and major corporations create visibility and stability that many energy companies lack. Scale across wind, solar, and gas, plus broad geographic spread, helps smooth out local weather and regulatory swings and gives the company cost advantages in development and operations. Its growing presence in serving data centers and large industrial users adds another layer of demand that is likely to grow over time. On the risk side, Clearway still faces exposure to policy changes, permitting and interconnection bottlenecks, intense competition from other renewable developers, and the need to continually refinance significant debt in changing interest‑rate environments.

Innovation and R&D

Innovation and R&D Clearway is not a lab‑heavy R&D company, but it is clearly an innovator in how it deploys and upgrades clean energy assets. The repowering strategy—upgrading older wind farms with modern equipment—extends asset life and boosts output without starting from scratch, which can be a powerful, capital‑efficient growth lever. Its focus on large‑scale battery storage and combined solar‑plus‑storage plants positions it well for a grid that needs flexibility and reliability as renewables expand. The push into co‑locating renewables with data centers, and offering fast‑to‑market power solutions for digital infrastructure, is a differentiated angle that taps into one of the fastest‑growing electricity demand sources. The main uncertainties are around execution risk on complex projects, evolving battery technologies, regulatory hurdles, and dependence on key equipment suppliers, but the strategy is clearly forward‑looking and aligned with where the power system is heading.

Summary

Clearway Energy combines a relatively steady, contracted income profile with a heavily leveraged but typical utility‑style balance sheet and consistently solid cash generation. The core business appears built for long‑term, predictable cash flows rather than rapid profit growth, and reported earnings can be lumpy due to one‑off items and financing dynamics. Financially, the main strengths are stable operating cash flow and positive free cash flow; the main vulnerabilities are high leverage and ongoing dependence on capital markets. Strategically, Clearway benefits from scale, diversification, and long‑term contracts, and is leaning into areas with strong structural demand such as energy storage and data‑center power. Execution on its repowering, storage, and digital‑infrastructure pipeline—and careful management of debt and interest costs—will be key factors determining how its attractive strategic position translates into long‑term financial resilience.

NEWS

November 6, 2025 · 4:02 PM UTC

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November 4, 2025 · 4:01 PM UTC

Clearway Energy, Inc. Reports Third Quarter 2025 Financial Results

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October 14, 2025 · 6:30 AM UTC

Clearway Energy, Inc. to Report Third Quarter 2025 Financial Results on November 4, 2025

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October 6, 2025 · 1:01 PM UTC

Deriva Energy Agrees to Sell 833MWdc of Operating Solar Assets to Clearway Energy

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October 6, 2025 · 6:00 AM UTC

Clearway Energy, Inc. Signs Binding Agreement to Acquire Solar Portfolio

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