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CWEN-A

Clearway Energy, Inc.

CWEN-A

Clearway Energy, Inc. • NYSE
$34.20 ▲ 1.00% (+0.34)
Market Cap $7.19 B
52w High $34.70
52w Low $23.03
Dividend Yield 1.74%
P/E 14.55
Volume 128.07K
Outstanding Shares 210.32M

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 Q3-2024Q4-2024Q1-2025Q2-2025
Capacity Revenue
Capacity Revenue
 $90.00M ▲$90.00M ▲$90.00M ▲$90.00M ▲
Energy Revenue
Energy Revenue
 $350.00M ▲$240.00M ▼$250.00M ▲$340.00M ▲
Products And Services Other
Products And Services Other
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Clearway’s revenue has been slowly but steadily rising, and its core operations generate solid gross profit. Operating profit has been fairly stable over the past few years, which suggests the underlying business is reasonably consistent. Earnings at the bottom line, however, have been more volatile. The company moved from small losses a few years ago to modest, recurring profits recently, with one unusually strong earnings year that likely reflects one‑time gains or accounting effects rather than a new, higher earnings base. Overall, this looks like a business with fairly steady operating performance but a net income line that can swing from year to year due to non‑operating factors such as financing costs, depreciation, and one‑off items.

Balance Sheet

Balance Sheet The balance sheet reflects a typical capital‑intensive utility: large assets, meaningful debt, and a relatively thin equity layer. Total assets have grown over time, indicating ongoing investment in projects. Debt is high relative to equity, which is common in this sector but still means the company is meaningfully leveraged and sensitive to interest rates and refinancing conditions. Cash on hand is modest compared with the size of the asset base, so the company relies heavily on ongoing cash generation and access to capital markets rather than a large cash buffer. In short, the balance sheet supports growth, but it does so with a fair amount of financial leverage.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been steady and gradually improving, which is important for a contracted utility business. After funding its capital spending, the company has consistently produced positive free cash flow, a key sign that its projects are generating more cash than they consume. Capital spending has been moderate rather than aggressive, suggesting a balance between maintaining and upgrading existing assets and selectively adding new ones. The overall picture is of a business that can fund its investment program from internal cash flows while still having room to service debt and support shareholder distributions, though not with an enormous margin for error.

Competitive Edge

Competitive Edge Clearway operates as a sizable, diversified renewable power owner, which gives it meaningful scale advantages across wind, solar, and storage. Its portfolio is spread across regions and technologies, helping reduce exposure to local weather patterns, regulation, and individual asset issues. A key strength is its heavy use of long‑term contracts with utilities and large corporations, which provides visibility into future cash flows and reduces exposure to volatile power prices. The close relationship with its development sponsor gives Clearway a steady pipeline of new projects to evaluate, which is a structural advantage over many smaller peers. In‑house operational expertise further supports reliability and cost control. Against this, the company still faces sector‑wide risks like policy changes, interest‑rate sensitivity, and the need to continually secure attractive new projects as older contracts roll off.

Innovation and R&D

Innovation and R&D Clearway’s edge comes less from inventing new technology and more from how it deploys and integrates existing technologies at scale. It is actively repowering older wind assets with more efficient equipment, squeezing more output from existing sites. It is also pairing solar assets with battery storage to make its energy more valuable and flexible on the grid. The company is leaning into fast‑growing demand from data centers by designing clean‑power solutions that co‑locate computing capacity with renewable assets, which could become a meaningful differentiator if executed well. Community solar offerings and tailored solutions for corporate customers further broaden its addressable market. The main innovation risks are execution‑related: successfully scaling storage, repowering projects, and data‑center partnerships while keeping costs and reliability under control.

Summary

Clearway shows the profile of a mature, contracted renewable utility: gradually rising revenue, stable operating performance, and reliable cash generation, but with bottom‑line earnings that can swing due to financing and one‑time factors. The business is heavily asset‑based and uses significant debt, which amplifies sensitivity to interest rates and capital‑market conditions but is in line with many peers in the utility and infrastructure space. Its competitive strengths lie in scale, diversification, long‑term contracts, and a strong development pipeline from its sponsor, all supported by in‑house operating capabilities. Strategically, the focus on storage integration, repowering older assets, and serving data‑center and corporate customers positions the company to participate in key growth areas within clean energy. Key things to watch include how effectively it manages leverage, the pace and profitability of new project additions, the success of data‑center and storage initiatives, and how well it sustains free cash flow as assets age and contracts eventually need to be renewed or replaced.

NEWS

October 6, 2025 · 6:00 AM UTC

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

Read more