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Clearway Energy, Inc. (CWEN) stock

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NYSE: CWEN NYSE Renewable Electricity Next results ~November 9, 2026

C Fundamentals grade

Clearway Energy, Inc. is a US-listed company in the renewable electricity industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: valuation models disagree too widely to rate.

Price vs value

Under review: valuation models disagree too widely to rate. We'll show the comparison once resolved.

Clearway Energy, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds358 adding, 116 cuttingOf 44 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Clearway Energy files

Where Clearway Energy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.57bn, up 9.9% on a year earlier, faster than 5.6% a quarter earlier. Free-cash-flow margin rose to 42.6% from 39.2% a year earlier. Operating margin narrowed to 13.4% from 15.8%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 7 financial-health checks.

Our model value for Clearway Energy is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Clearway Energy, Inc.'s trailing-twelve-month revenue grew 9.9% year on year, with a free-cash-flow margin of 42.6%. Where it stands out: free-cash-flow margin of 42.6% ranks 2 of 10 renewable electricity companies we cover. Where it lags: long-term debt as % of assets of 50.6% ranks 9 of 9 renewable electricity companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 19.4% while net income grew 53.0%: a 34pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 4.3 points higher than a quarter earlier.
  • Strong cash generation. 42.6% of revenue turned into free cash flow, against a median of -22.3% for renewable electricity companies we cover.

Things to watch

  • High debt. Long-term debt exceeds cash by $8.2bn, more than 1.5 times annual revenue.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 50.6% ranks 9 of 9 renewable electricity companies we cover (median 25.6%).
  • Below peers: revenue growth. Revenue growth of 9.9% ranks 8 of 10 renewable electricity companies we cover (median 10.6%).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 42.4% over 90 days.

Latest results: FY2026 Q2

Filed August 5, 2026
Revenue
$481m, up 22.7% on a year earlier
Share reaction
+7.0% in the first session after the results on October 20, 2026, against +0.9% for the S&P 500
Next report
November 9, 2026; average EPS estimate $2.14

Clearway Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+5.8%
  • 1 week+7.9%
  • 1 month+15.5%
  • This year+5.9%
  • 1 year+11.7%
  • 5 years+24.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.6B
Operating margin
13.4%
Net margin
6.4%

Growth

Revenue growth
+9.9%
Change in growth rate
+4.3 pts

Cash

Free cash flow (TTM)
$671M
FCF margin
42.6%

Earnings

Last results
October 20, 2026
Next results (est.)
January 4, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Agreement
  3. Agreement
  4. Leadership
  5. Agreement
  6. Results
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Clearway Energy, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Clearway Energy, Inc. as an utility or power producer, with every model that fits that kind of business. Cost of equity 7.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.53 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$10 ~$8.4–$13 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$8.5 ~$8.6–$12 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$16 ~$14–$19 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$19 ~$13–$27 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$17 ~$15–$21 Included
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Clearway Energy, Inc. with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025
Share price$23.69$27.92$25.72$23.42$23.62$32.00
Market value$829m$977m$900m$820m$827m$1.1bn
+ Net debt (− = net cash)$6.8bn$8.0bn$6.2bn$8.1bn$6.9bn$8.4bn
Enterprise value$7.6bn$9.0bn$7.1bn$8.9bn$7.7bn$9.6bn
Multiples
Price / sales 0.7x0.8x0.8x0.6x0.6x0.8x
Price / earnings 33.2x19.2x1.5x10.4x9.4x6.6x
Price / free cash flow 2.0x1.8x1.3x1.7x1.7x3.0x
EV / EBITDA 10.0x11.6x3.6x11.2x9.4x11.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

61 /100

Moderate moat

How hard Clearway Energy's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.5% of total assets over 10 years.

  • Pricing power 19 / 20

    Gross margin has been a median 67.4%, moving by 2.9 percentage points (standard deviation) across 10 years.

  • Durability 14 / 20

    Operating margin has been a median 22.8%; its worst year was 10.2%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 38.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (66 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $518m and EPS of $2.14 (range $2.14 to $2.14) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.22 −48% $1.7bn +18%
Next $1.57 +29% $1.9bn +12%

Next year's EPS estimate has moved −42.4% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −271.4% on 90 days ago. In the last 30 days, 0 analysts raised Clearway Energy, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Clearway Energy, Inc., last 90 days
−$1.00 $0.00 $1.00 $2.00 $3.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.71 Current fiscal year, 60 days ago: $0.03 Current fiscal year, 30 days ago: $0.56 Current fiscal year, 7 days ago: $0.56 Current fiscal year, Now: $1.22 $1.22 Next fiscal year, 90 days ago: $2.74 Next fiscal year, 60 days ago: $2.06 Next fiscal year, 30 days ago: $1.64 Next fiscal year, 7 days ago: $1.64 Next fiscal year, Now: $1.57 $1.57

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.71$2.74
60 days ago $0.03$2.06
30 days ago $0.56$1.64
7 days ago $0.56$1.64
Now $1.22$1.57

Earnings against estimates

Quarter toEstimateActualSurprise
Mar 2026 −$0.39 −$1.43 −270.1%
Dec 2025 $0.44 −$0.65 −247.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 20, 2026

No numeric guidance in Clearway Energy, Inc.'s latest earnings release (filed October 20, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

14 analysts, Oct 2026
Buy1393%
Hold17%
Sell00%

Monthly trend

  1. Oct 2026310114
  2. Sep 202639113
  3. Aug 202638112
  4. Jul 202638112

Counts of recommendations published by analysts covering Clearway Energy, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.0%
of tradable shares
Days to cover
6.34
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
90%
of shares
Held by insiders
0.7%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +11.7%

$30.34 on October 31, 2025 to $33.90

ThenNowEffect
Revenue (last 12 months) $1.4bn $1.6bn +9.9%
Net margin 4.6% 6.4% +39.2%
P/E multiple 31.3x 22.8x −27.0%
Share count 68m 68m 0.0%

Biggest factor: net margin.

Last 3 years +76.4%

$19.22 on November 3, 2023 to $33.90

ThenNowEffect
Revenue (last 12 months) $1.3bn $1.6bn +20.9%
Net margin 6.3% 6.4% +1.9%
P/E multiple 15.9x 22.8x +43.2%
Share count 68m 68m 0.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CWEN+18%−8%−9%+1%+36%+6%
Industry peers (median)−11%−30%−29%−33%−44%−28%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CWEN50%50%33%58%58%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CWEN−31%−25%−43%−22%−14%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 52% from August 18, 2022 to October 5, 2023. Getting back needed a 109% gain, reached on November 5, 2025, 762 days after the low.

Price behaviour

52-week range
$29.14 – $40.64
From 52-week high
−16.6%
vs 50-day average
+9.8%
vs 200-day average
−2.9%
Volatility (1 year)
31%
Beta vs S&P 500
0.72

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±4.7%
After a week
7 up, 5 down
typical move ±5.9%
After a month
9 up, 2 down
typical move ±6.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 20, 2026 +7.0% +0.9% +10.7% —
August 5, 2026 +3.5% −0.4% +8.4% +0.7%
July 16, 2026 −3.0% −1.5% −2.6% −0.9%
May 7, 2026 −0.9% +0.5% −2.9% +2.3%
February 23, 2026 −2.3% −0.3% −2.7% +0.3%
November 4, 2025 +6.6% −0.8% +9.3% +6.4%
August 5, 2025 −7.6% +0.3% −10.2% −10.9%
April 30, 2025 −2.5% +0.7% −3.7% +3.6%
February 24, 2025 −0.3% −1.0% +0.8% +12.6%
October 30, 2024 +10.4% −2.3% +4.4% +14.7%
August 1, 2024 +3.7% −3.3% +6.7% +8.5%
May 9, 2024 +8.7% +0.7% +8.8% +11.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Clearway Energy, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Clearway Energy, Inc.
$1.2B $1.3B $1.4B $1.5B $1.6B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.3B Revenue (TTM), FY23 Q4: $1.3B Revenue (TTM), FY24 Q1: $1.3B Revenue (TTM), FY24 Q2: $1.2B Revenue (TTM), FY24 Q3: $1.4B Revenue (TTM), FY24 Q4: $1.4B Revenue (TTM), FY25 Q1: $1.4B Revenue (TTM), FY25 Q2: $1.4B Revenue (TTM), FY25 Q3: $1.4B Revenue (TTM), FY25 Q4: $1.4B Revenue (TTM), FY26 Q1: $1.5B Revenue (TTM), FY26 Q2: $1.6B $1.6B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.3B
FY23 Q4 $1.3B
FY24 Q1 $1.3B
FY24 Q2 $1.2B
FY24 Q3 $1.4B
FY24 Q4 $1.4B
FY25 Q1 $1.4B
FY25 Q2 $1.4B
FY25 Q3 $1.4B
FY25 Q4 $1.4B
FY26 Q1 $1.5B
FY26 Q2 $1.6B
Revenue growth, TTM YoY Clearway Energy, Inc.
-5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 7.5% Revenue growth, TTM YoY, FY23 Q4: 10.4% Revenue growth, TTM YoY, FY24 Q1: 2.0% Revenue growth, TTM YoY, FY24 Q2: -4.1% Revenue growth, TTM YoY, FY24 Q3: 2.3% Revenue growth, TTM YoY, FY24 Q4: 4.3% Revenue growth, TTM YoY, FY25 Q1: 9.1% Revenue growth, TTM YoY, FY25 Q2: 14.7% Revenue growth, TTM YoY, FY25 Q3: 0.8% Revenue growth, TTM YoY, FY25 Q4: 4.2% Revenue growth, TTM YoY, FY26 Q1: 5.6% Revenue growth, TTM YoY, FY26 Q2: 9.9% 9.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 7.5%
FY23 Q4 10.4%
FY24 Q1 2.0%
FY24 Q2 -4.1%
FY24 Q3 2.3%
FY24 Q4 4.3%
FY25 Q1 9.1%
FY25 Q2 14.7%
FY25 Q3 0.8%
FY25 Q4 4.2%
FY26 Q1 5.6%
FY26 Q2 9.9%
Operating margin (TTM) Clearway Energy, Inc.
10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 22.3% Operating margin (TTM), FY23 Q4: 20.0% Operating margin (TTM), FY24 Q1: 14.9% Operating margin (TTM), FY24 Q2: 10.2% Operating margin (TTM), FY24 Q3: 15.5% Operating margin (TTM), FY24 Q4: 14.3% Operating margin (TTM), FY25 Q1: 16.0% Operating margin (TTM), FY25 Q2: 15.8% Operating margin (TTM), FY25 Q3: 11.6% Operating margin (TTM), FY25 Q4: 11.2% Operating margin (TTM), FY26 Q1: 12.1% Operating margin (TTM), FY26 Q2: 13.4% 13.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 22.3%
FY23 Q4 20.0%
FY24 Q1 14.9%
FY24 Q2 10.2%
FY24 Q3 15.5%
FY24 Q4 14.3%
FY25 Q1 16.0%
FY25 Q2 15.8%
FY25 Q3 11.6%
FY25 Q4 11.2%
FY26 Q1 12.1%
FY26 Q2 13.4%
FCF margin (TTM) Clearway Energy, Inc.
25% 30% 35% 40% 45% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 38.7% FCF margin (TTM), FY23 Q4: 37.3% FCF margin (TTM), FY24 Q1: 37.7% FCF margin (TTM), FY24 Q2: 37.2% FCF margin (TTM), FY24 Q3: 35.0% FCF margin (TTM), FY24 Q4: 35.2% FCF margin (TTM), FY25 Q1: 38.3% FCF margin (TTM), FY25 Q2: 39.2% FCF margin (TTM), FY25 Q3: 32.0% FCF margin (TTM), FY25 Q4: 25.8% FCF margin (TTM), FY26 Q1: 44.2% FCF margin (TTM), FY26 Q2: 42.6% 42.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 38.7%
FY23 Q4 37.3%
FY24 Q1 37.7%
FY24 Q2 37.2%
FY24 Q3 35.0%
FY24 Q4 35.2%
FY25 Q1 38.3%
FY25 Q2 39.2%
FY25 Q3 32.0%
FY25 Q4 25.8%
FY26 Q1 44.2%
FY26 Q2 42.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Clearway Energy took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.4B
  2. Other income $65M · 4.5%
  3. Cost of revenue $530M · 37.1%
  4. Gross profit $899M · 62.9%
  5. Selling, general and admin $41M · 2.9%
  6. Other operating costs $698M · 48.8%
  7. Operating income $160M · 11.2%
  8. Income tax $56M · 3.9%
  9. Net income $169M · 11.8%

Shares of revenue. Source: Clearway Energy's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 164 175 387 828 968 1,035 1,009 1,053 1,032 1,199 1,286 1,190 1,314 1,371 1,429 1,574
Gross profit 56 61 239 551 645 727 683 726 695 833 835 755 841 870 899 1,014
EBITDA 50 54 232 539 629 525 617 683 625 761 776 1,982 789 823 842 945
Operating income 28 29 158 306 326 222 283 347 224 333 267 1,470 263 196 160 211
Net income 15 12 13 16 33 57 −16 48 −11 25 51 582 79 88 169 101
Diluted EPS — — $0.57 $0.59 — — — $0.46 −$0.10 $0.22 $0.44 $4.99 $0.67 $0.75 — —
Growth (year on year)
Revenue — +6.7% +121.1% +114.0% +16.9% +6.9% −2.5% +4.4% −2.0% +16.2% +7.3% −7.5% +10.4% +4.3% +4.2% +9.9%
EBITDA — +8.0% +329.6% +132.3% +16.7% −16.5% +17.5% +10.7% −8.5% +21.8% +2.0% +155.4% −60.2% +4.3% +2.3% +8.4%
Operating income — +3.6% +444.8% +93.7% +6.5% −31.9% +27.5% +22.6% −35.4% +48.7% −19.8% +450.6% −82.1% −25.5% −18.4% −6.6%
Net income — −20.0% +8.3% +23.1% — +72.7% −128.1% — −122.9% — +104.0% +>999% −86.4% +11.4% +92.0% +53.0%
Diluted EPS — — — +3.5% — — — — −121.7% — +100.0% +>999% −86.6% +11.9% — —
Margins
Gross margin 34.1% 34.9% 61.8% 66.5% 66.6% 70.2% 67.7% 68.9% 67.3% 69.5% 64.9% 63.4% 64.0% 63.5% 62.9% 64.4%
EBITDA margin 30.5% 30.9% 59.9% 65.1% 65.0% 50.7% 61.1% 64.9% 60.6% 63.5% 60.3% 166.6% 60.0% 60.0% 58.9% 60.0%
Operating margin 17.1% 16.6% 40.8% 37.0% 33.7% 21.4% 28.0% 33.0% 21.7% 27.8% 20.8% 123.5% 20.0% 14.3% 11.2% 13.4%
Net margin 9.1% 6.9% 3.4% 1.9% 3.4% 5.5% −1.6% 4.6% −1.1% 2.1% 4.0% 48.9% 6.0% 6.4% 11.8% 6.4%
Free-cash-flow margin −60.4% −290.3% −60.2% 36.5% 40.9% 53.8% 32.4% 39.4% 24.1% 35.1% 42.8% 56.7% 37.3% 35.2% 25.8% 42.6%
Cash flow
Cash from operations 33 56 120 362 425 577 517 498 477 545 701 787 702 770 688 1,017
Capital spending 132 564 353 60 29 20 190 83 228 124 151 112 212 287 319 346
Free cash flow −99 −508 −233 302 396 557 327 415 249 421 550 675 490 483 369 671
Stock-based pay — — — — 1 1 2 3 4 3 4 0 2 1 3 —
Free cash flow after stock pay — — — — 395 556 325 412 245 418 546 675 488 482 366 —
Balance sheet
Cash 24 22 59 429 111 322 148 407 155 268 179 657 535 332 231 251
Total debt 0 807 1,783 4,985 5,656 6,149 6,083 6,044 6,858 7,043 8,201 6,870 8,589 7,235 8,674 9,137
Net debt (negative = net cash) −24 785 1,724 4,556 5,545 5,827 5,935 5,637 6,703 6,775 8,022 6,213 8,054 6,903 8,443 8,886
Diluted shares — — 23m 28m — — — — — 35m 35m 35m 35m 35m 35m —
Returned to shareholders
Dividends 0 0 15 101 139 173 202 238 155 211 268 289 311 334 358 372
Total returned 0 0 15 101 139 173 202 238 155 211 268 289 311 334 358 372

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $16.8bn
Short-term assets $1.1bnLonger-term assets $15.7bn
What it owes, and who funded it · $16.6bn
Short-term liabilities $880mLonger-term liabilities $10.3bnShareholders' equity $5.5bn
  • Short-term assets cover short-term liabilities $1.1bn of assets due within a year against $880m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.1bn short-term assets against $10.3bn of longer-dated liabilities.
  • More cash than debt $251m of cash against $9.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 166% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 210% to 166% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.0bn of operating cash flow against $9.1bn of debt.
  • Operating profit covers interest at least five times over Operating income of $211m against $394m of interest.

From Clearway Energy, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$372M
Returned to shareholders
55%
of free cash flow
Total shareholder yield
5.3%
dividends 5.3% + buybacks 0.0% of market value
Dividend payout ratio
368%
of net income paid out

Competitors: side by side with peers

Closest by revenue in renewable electricity
Last 12 months unless stated CWEN RNW ORA ENLT MNTK SPRU Median
Revenue, last 12 months $1.6bn $1.5bn $1.2bn $489m $189m $109m $149m
Revenue growth, last 12 months 9.9% 30.4% 31.1% 29.3% 4.3% 10.0% 10.5%
Revenue growth, 3-year average 6.5% — 16.0% — 2.1% 24.4% 7.8%
Revenue growth, latest quarter 22.7% — 10.6% — 19.7% −8.7% 15.1%
Gross margin 64.4% — 27.9% 72.5% 29.5% 48.3% 29.5%
Operating margin 13.4% 10.6% 16.6% 68.0% 0.6% 22.4% 12.0%
Operating margin, 3-year average 13.1% — 18.5% — 7.2% −21.5% 7.2%
Net margin 6.4% 7.4% 10.7% 27.0% 4.2% −6.8% −0.4%
Cash from operations / revenue 64.6% 61.6% 23.5% 57.8% 23.0% 1.9% 14.3%
Free-cash-flow margin 42.6% 48.3% −22.3% −313.1% −44.1% 1.8% −33.2%
Free-cash-flow margin, 3-year average 39.7% — −22.1% — −22.9% −26.4% −22.9%
Stock pay / revenue — 0.7% 1.8% 2.1% 1.0% 3.3% 1.8%
Change in share count — −73.7% 1.8% 7.5% 0.5% 6.5% 6.5%

Median of all 10 companies we cover in renewable electricity. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

10 renewable electricity companies
Measure Company Peer median Rank
Revenue growth Growth 9.9% 10.6% 8 of 10
Change in growth rate Growth +4.3pp +4.3pp 5 of 10
Gross margin Profitability 64.4% 29.0% 2 of 7
Operating margin Profitability 13.4% 13.4% 5 of 10
Net margin Profitability 6.4% 4.2% 4 of 10
Free-cash-flow margin Cash generation 42.6% -22.3% 2 of 10
Long-term debt as % of assets Balance sheet 50.6% 25.6% 9 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Renewables and Storage $1.1B 79.6% ▲ 10.6%
Flexible Generation $291M 20.4% ▼ 14.9%
Products and services
Line of business Revenue YoY
Energy Revenue $1.2B ▲ 2.0%
Capacity Revenue $369M ▲ 12.8%
Products and Services Other $76M ▼ 15.6%

These categories overlap or exclude eliminations, so shares aren't shown.

From Clearway Energy, Inc.'s 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.5B
Institutions reporting
475
Shares held vs prior quarter
▲ 30.3%
Positions opened / closed
113 / 44

Top buyers and sellers, Q2 2026: 358 institutions bought and 116 sold ; the biggest buyer was Blackrock, Inc (+4.5M shares) and the biggest seller Tortoise Capital Advisors, L.L.C (−2.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $629M 18.4M 17.9% ▲ 32.2%
Vanguard Portfolio Management LLC $249M 7.3M 7.1% ▲ 38.6%
Clearbridge Investments, LLC $192M 5.6M 5.5% ▲ 7.8%
Vanguard Capital Management LLC $187M 5.5M 5.3% ▲ 54.1%
Neuberger Berman Group LLC $158M 4.6M 4.5% ▲ 3.4%
Charles Schwab Investment Management Inc $149M 4.4M 4.2% ▲ 264.2%
State Street Corp $141M 4.1M 4.0% ▲ 50.0%
Morgan Stanley $123M 3.6M 3.5% ▲ 18.4%
Bank Of New York Mellon Corp $109M 3.2M 3.1% ▲ 26.3%
Invesco Ltd. $106M 3.1M 3.0% ▲ 25.2%
Geode Capital Management, LLC $79.4M 2.3M 2.3% ▲ 46.7%
Legal & General Group PLC $78.7M 2.3M 2.2% ▲ 19.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Clearway Energy, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 24 trades and filings

No trades in Clearway Energy, Inc. disclosed in the last 12 months; 24 earlier trades on record.

  • Maria Elvira Salazar(R-FL 27):Sale (full), $15,001 - $50,000, traded October 25, 2024, filed November 11, 2024
  • Maria Elvira Salazar(R-FL 27):Purchase, $15,001 - $50,000, traded April 26, 2024, filed May 8, 2024
  • Virginia Foxx(R-NC 5):Sale (full), $1,001 - $15,000, traded June 22, 2022, filed July 5, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 4, 2027 estimated from the company's past filing pattern, not announced

  • October 20, 2026
  • August 5, 2026
  • July 16, 2026
  • May 7, 2026
  • February 23, 2026
  • November 4, 2025

Recent SEC filings

Data status

When each part of this page on Clearway Energy, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Clearway Energy, Inc. in brief

What does Clearway Energy, Inc. do?
Clearway Energy, Inc. is a US-listed company in the renewable electricity industry. Its financial year ends in December.
What is Clearway Energy, Inc.'s stock ticker?
Clearway Energy, Inc. trades under the ticker CWEN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Clearway Energy, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Clearway Energy, Inc. reported revenue of $1.6B, 9.9% higher than a year earlier, according to its SEC filings.
What is Clearway Energy, Inc.'s free cash flow?
Clearway Energy, Inc.'s free-cash-flow margin is 42.6% of revenue over the trailing twelve months, ranking 2 of the 10 renewable electricity companies we cover.
Who are Clearway Energy, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Clearbridge Investments, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Clearway Energy, Inc.'s market cap?
On December 31, 2025, Clearway Energy, Inc.'s market capitalisation was about $1.1B, with a price-to-earnings ratio of 6.6 and net debt of $8.4B. Market figures come from third-party market data and may be delayed.
Does Clearway Energy, Inc. pay a dividend?
Yes: Clearway Energy, Inc. paid $372M in dividends over the trailing twelve months, a dividend yield of 5.35% and a payout ratio of 368.3%.
How much debt does Clearway Energy, Inc. have?
Clearway Energy, Inc.'s debt-to-equity ratio is 165.6%, from its latest balance sheet (210.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Clearway Energy, Inc.'s competitors?
In our Renewable Electricity peer group, the companies closest to Clearway Energy, Inc. are Renew Energy Global plc, Ormat Technologies, Inc., Enlight Renewable Energy Ltd., Montauk Renewables, Inc. and Spruce Power Holding Corp. The side-by-side comparison below sets their revenue, margins and growth against Clearway Energy, Inc.'s.
When is Clearway Energy, Inc.'s next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Clearway Energy, Inc. announces its own schedule.