Stock fact sheet · data as of
HA Sustainable Infrastructure Capital, Inc. (HASI): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · High Yield Income
Is HASI undervalued?
At 36.80 (close of 16 Oct 2026), HASI trades 31% over the GLS average fair value of 27.99, with 3 of 8 models above the price. The stock earns none of the Wheel Score's Value points at this price. That is a statement about price against trailing fundamentals, not about the company's prospects - the Wall Street View and the Growth tab on the Quote page carry the forward numbers.
There is a wide gap between EPV (7.49) and Payback Time (64.62). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files HASI under High Yield Income: a dividend yield above 4%.
Nine valuation models for HASI
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 17.37 | -53% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 20.43 | -44% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 7.58 | -79% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 41.28 | +12% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 40.18 | +9% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 64.62 | +76% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 24.94 | -32% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 7.49 | -80% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -13.16 | -136% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 50.17 | +36% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
HA Sustainable Infrastructure Capital, Inc. scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 4.4/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 2.4%, ROE 7.2%, ROA 2.3% - with debt at 1.97 times equity and a free-cash-flow yield of 4.4%.
The dividend yield is high at 4.61% (payout ratio 255%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 2.4% |
|---|---|---|---|
| GLS Moat | 4.4 / 10 | ROE | 7.2% |
| Debt / equity | 1.97 | ROA | 2.3% |
| Free-cash-flow yield | 4.4% | Payout ratio | 255% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 56: Fair
A Wheel Score of 56 puts HA Sustainable Infrastructure Capital, Inc. in the Fair band - below the 70 the Sunday Scan requires. Value 0/25, Health 13/20, Moat 7/15, Premium 20/20 and Stability 16/20; the weakest part is Value (0/25).
Implied volatility is 39% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 4,806 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 978k shares a day on a market cap of $4.7B, with a beta of 1.42 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 16 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -31% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 7 / 15 | moat 4.4/10 | |
| Premium | 20 / 20 | implied volatility 39% | |
| Stability | 16 / 20 | 978k shares/day, $4.7B cap, beta 1.42 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 5 Nov 2026 (after the close), 20 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to HA Sustainable Infrastructure Capital, Inc. by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| HLNE Hamilton Lane Incorporated | 83.50 | 158.24 | +47% | 89Prime | $4.6B |
| JSEAX JPMorgan International Equity A | 23.39 | 20.34 | -15% | 30No options | $4.9B |
| FIVLX Fidelity International Value Fund | 15.02 | 5.61 | -168% | 25No options | $4.5B |
| BMRRX BlackRock Mid-Cap Growth Equity Portfolio | 23.58 | 163.05 | +86% | 39No options | $4.5B |
| MAIN Main Street Capital Corporation | 54.27 | 94.16 | +42% | 45Weak | $5.1B |
| FELTX Fidelity Advisor Semiconductors Fund | 153.71 | 1,989.48 | +92% | 39No options | $5.1B |
| OBDC Blue Owl Capital Corporation | 10.35 | 27.81 | +63% | 88Prime | $5.1B |
| OTF Blue Owl Technology Finance Corp. | 9.44 | 47.48 | +80% | 39No options | $4.3B |
| JANIX Janus Henderson Triton Fund Class D | 28.28 | 45.31 | +38% | 39No options | $5.3B |
| FAKTX American Funds 2015 Target Date Retirement Fd Cl F-1 | 13.21 | 192.52 | +93% | 39No options | $4.2B |
| FHI Federated Hermes, Inc. | 56.47 | 90.61 | +38% | 86Prime | $4.2B |
| STEP StepStone Group Inc. | 41.33 | 22.11 | -87% | 45Weak | $5.3B |
⚖ Compare HASI with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about HASI
Is HASI undervalued right now?
No: at 36.80 the stock trades 31% above the GLS average fair value of 27.99 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of HASI and what does it mean?
HASI scores 56 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for HASI?
27.99 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does HA Sustainable Infrastructure Capital, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026 (after the close), 20 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does HASI have listed options, and how liquid are they?
Yes. The nightly snapshot found 94 listed contracts with 4,806 open interest across all expiries and implied volatility of 39% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.