NYSE : CWEN
Clearway Energy, Inc. — Financial statements
Utilities · Utilities - Renewable · United States
Last price 32.88 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 6.75B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Clearway Energy, Inc. (CWEN) reported revenue of 1.57B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.57B | 1.43B | 1.37B | 1.31B | 1.19B | 1.29B |
| Selling, General & Admin | 46.00M | 41.00M | 39.00M | 36.00M | 40.00M | 40.00M |
| Depreciation & Amortization | 712.00M | 660.00M | 627.00M | 526.00M | 512.00M | 509.00M |
| Other Operating Expenses | 560.00M | 530.00M | 501.00M | 473.00M | 435.00M | 451.00M |
| Total Operating Expenses | 1.32B | 1.23B | 1.17B | 1.03B | 989.00M | 1.01B |
| Operating Income | 256.00M | 198.00M | 204.00M | 279.00M | 201.00M | 280.00M |
| Interest Expense | -394.00M | -387.00M | -307.00M | -337.00M | -232.00M | -312.00M |
| Net Interest Expense | -394.00M | -387.00M | -307.00M | -337.00M | -232.00M | -312.00M |
| Income (Loss) on Equity Investments | 35.00M | 31.00M | 35.00M | 12.00M | 29.00M | 32.00M |
| Other Non-Operating Income (Expenses) | 30.00M | 29.00M | 48.00M | 52.00M | 17.00M | 3.00M |
| EBT Excluding Unusual Items | -73.00M | -129.00M | -20.00M | 6.00M | 15.00M | 3.00M |
| Total Merger & Restructuring Charges | -23.00M | -16.00M | -8.00M | -4.00M | -7.00M | -7.00M |
| Gain (Loss) on Sale of Assets | 1.29B | |||||
| Asset Writedown | -22.00M | -22.00M | -12.00M | -16.00M | -6.00M | |
| Other Unusual Items | -13.00M | -8.00M | -5.00M | -6.00M | -2.00M | -53.00M |
| Pretax Income | -131.00M | -175.00M | -33.00M | -16.00M | 1.28B | -63.00M |
| Income Tax Expense | 46.00M | 56.00M | 30.00M | -2.00M | 222.00M | 12.00M |
| Earnings From Continuing Ops. | -177.00M | -231.00M | -63.00M | -14.00M | 1.06B | -75.00M |
| Minority Interest in Earnings | 278.00M | 400.00M | 151.00M | 93.00M | -478.00M | 126.00M |
| Net Income | 101.00M | 169.00M | 88.00M | 79.00M | 582.00M | 51.00M |
| Net Income to Common | 101.00M | 169.00M | 88.00M | 79.00M | 582.00M | 51.00M |
| Shares Outstanding (Basic) | 120.50M | 119.00M | 118.00M | 117.00M | 117.00M | 117.00M |
| Shares Outstanding (Diluted) | 120.50M | 119.00M | 118.00M | 117.00M | 117.00M | 117.00M |
| EPS (Basic) | 0.84 | 1.42 | 0.75 | 0.68 | 4.97 | 0.44 |
| EPS (Diluted) | 0.84 | 1.42 | 0.75 | 0.68 | 4.97 | 0.44 |
| Free Cash Flow | 532.00M | 342.00M | 483.00M | 408.00M | 675.00M | 529.00M |
| Free Cash Flow Per Share | 4.42 | 2.87 | 4.09 | 3.49 | 5.77 | 4.52 |
| Dividend Per Share | 1.83 | 1.77 | 1.65 | 1.54 | 1.43 | 1.33 |
| Profit Margin | 6.42% | 11.83% | 6.42% | 6.01% | 48.91% | 3.97% |
| Free Cash Flow Margin | 33.80% | 23.93% | 35.23% | 31.05% | 56.72% | 41.13% |
| EBITDA | 1.17B | 1.04B | 1.01B | 990.00M | 885.00M | 935.00M |
| EBITDA Margin | 74.21% | 73.13% | 73.89% | 75.34% | 74.37% | 72.71% |
| D&A For EBITDA | 912.00M | 847.00M | 809.00M | 711.00M | 684.00M | 655.00M |
| EBIT | 256.00M | 198.00M | 204.00M | 279.00M | 201.00M | 280.00M |
| EBIT Margin | 16.26% | 13.86% | 14.88% | 21.23% | 16.89% | 21.77% |
| Effective Tax Rate | 17.32% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 251.00M | 231.00M | 332.00M | 535.00M | 657.00M | 179.00M |
| Trading Asset Securities | 33.00M | 19.00M | 35.00M | 40.00M | 26.00M | |
| Accounts Receivable | 298.00M | 163.00M | 164.00M | 345.00M | 153.00M | 144.00M |
| Inventory | 88.00M | 75.00M | 64.00M | 55.00M | 47.00M | 37.00M |
| Prepaid Expenses | 86.00M | 67.00M | 67.00M | 68.00M | 54.00M | 65.00M |
| Restricted Cash | 292.00M | 587.00M | 401.00M | 516.00M | 339.00M | 475.00M |
| Other Current Assets | 14.00M | 10.00M | 4.00M | 1.00M | 631.00M | |
| Total Current Assets | 1.06B | 1.15B | 1.07B | 1.56B | 1.28B | 1.53B |
| Property, Plant & Equipment | 12.46B | 12.31B | 10.49B | 10.12B | 7.95B | 8.20B |
| Other Intangible Assets | 2.39B | 2.36B | 2.19B | 2.37B | 2.56B | 2.50B |
| Long-Term Investments | 515.00M | 414.00M | 440.00M | 441.00M | 427.00M | 387.00M |
| Long-Term Deferred Tax Assets | 172.00M | 95.00M | ||||
| Other Long-Term Assets | 352.00M | 247.00M | 138.00M | 203.00M | 96.00M | 101.00M |
| Total Assets | 16.77B | 16.66B | 14.33B | 14.70B | 12.31B | 12.81B |
| Accounts Payable | 135.00M | 116.00M | 98.00M | 146.00M | 60.00M | 170.00M |
| Accrued Expenses | 161.00M | 122.00M | 124.00M | 144.00M | 179.00M | 141.00M |
| Current Portion of Long-Term Debt | 572.00M | 659.00M | 430.00M | 558.00M | 322.00M | 794.00M |
| Current Portion of Leases | 75.00M | 10.00M | 7.00M | 6.00M | 8.00M | |
| Other Current Liabilities | 12.00M | 46.00M | 56.00M | 51.00M | 50.00M | 518.00M |
| Total Current Liabilities | 880.00M | 1.02B | 718.00M | 906.00M | 617.00M | 1.63B |
| Long-Term Debt | 8.50B | 7.42B | 6.75B | 6.82B | 5.78B | 6.22B |
| Long-Term Leases | 829.00M | 1.30B | 569.00M | 1.29B | 1.26B | 1.32B |
| Long-Term Deferred Tax Liabilities | 143.00M | 45.00M | 89.00M | 127.00M | 119.00M | 13.00M |
| Other Long-Term Liabilities | 823.00M | 963.00M | 639.00M | 565.00M | 504.00M | 328.00M |
| Total Liabilities | 11.18B | 10.74B | 8.77B | 9.71B | 8.28B | 9.51B |
| Common Stock | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M |
| Additional Paid-In Capital | 1.73B | 1.72B | 1.80B | 1.73B | 1.76B | 1.87B |
| Retained Earnings | 111.00M | 213.00M | 254.00M | 361.00M | 463.00M | -33.00M |
| Comprehensive Income & Other | 9.00M | -5.00M | 3.00M | 7.00M | 9.00M | -6.00M |
| Total Common Equity | 1.85B | 1.92B | 2.06B | 2.10B | 2.23B | 1.83B |
| Minority Interest | 3.75B | 3.99B | 3.50B | 2.89B | 1.80B | 1.47B |
| Shareholders' Equity | 5.60B | 5.91B | 5.56B | 5.00B | 4.03B | 3.30B |
| Total Liabilities & Equity | 16.77B | 16.66B | 14.33B | 14.70B | 12.31B | 12.81B |
| Total Debt | 9.90B | 9.45B | 7.76B | 8.67B | 7.37B | 8.34B |
| Net Cash (Debt) | -9.62B | -9.20B | -7.39B | -8.10B | -6.68B | -8.16B |
| Net Cash Per Share | -79.81 | -77.30 | -62.64 | -69.21 | -57.13 | -69.78 |
| Filing Date Shares Outstanding | 121.17M | 120.90M | 117.45M | 117.01M | 116.90M | 116.47M |
| Total Common Shares Outstanding | 121.17M | 119.46M | 117.45M | 117.01M | 116.90M | 116.16M |
| Working Capital | 182.00M | 134.00M | 349.00M | 654.00M | 659.00M | -100.00M |
| Book Value Per Share | 15.28 | 16.11 | 17.57 | 17.96 | 19.11 | 15.79 |
| Tangible Book Value | -537.00M | -436.00M | -130.00M | -273.00M | -331.00M | -665.00M |
| Tangible Book Value Per Share | -4.43 | -3.65 | -1.11 | -2.33 | -2.83 | -5.72 |
| Land | 644.00M | 537.00M | 365.00M | 293.00M | 320.00M | |
| Construction In Progress | 530.00M | 191.00M | 1.22B | 160.00M | 84.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 101.00M | 169.00M | 88.00M | 79.00M | 582.00M | 51.00M |
| Depreciation & Amortization | 912.00M | 847.00M | 809.00M | 711.00M | 684.00M | 655.00M |
| Other Amortization | 17.00M | 15.00M | 14.00M | 13.00M | 14.00M | 14.00M |
| Loss (Gain) on Sale of Assets | -1.29B | |||||
| Loss (Gain) on Equity Investments | -1.00M | 1.00M | -1.00M | 18.00M | 8.00M | 6.00M |
| Asset Writedown | 22.00M | 22.00M | 12.00M | 16.00M | 6.00M | |
| Change in Other Net Operating Assets | -28.00M | -30.00M | -47.00M | -70.00M | 18.00M | -9.00M |
| Other Operating Activities | -6.00M | -336.00M | -93.00M | -61.00M | 757.00M | -22.00M |
| Operating Cash Flow | 1.02B | 688.00M | 770.00M | 702.00M | 787.00M | 701.00M |
| Capital Expenditures | -485.00M | -346.00M | -287.00M | -294.00M | -112.00M | -172.00M |
| Sale of Property, Plant & Equipment | 152.00M | 152.00M | ||||
| Cash Acquisitions | -661.00M | -642.00M | -678.00M | -45.00M | -294.00M | -762.00M |
| Divestitures | 1.46B | |||||
| Investment in Securities | -78.00M | 15.00M | 41.00M | -14.00M | 13.00M | 47.00M |
| Other Investing Activities | 10.00M | 18.00M | 199.00M | -170.00M | 1.00M | 22.00M |
| Investing Cash Flow | -1.06B | -803.00M | -725.00M | -523.00M | 1.06B | -865.00M |
| Long-Term Debt Issued | 1.22B | 466.00M | 563.00M | 324.00M | 2.35B | |
| Long-Term Debt Repaid | -1.80B | -1.97B | -1.35B | -1.52B | -2.67B | |
| Net Debt Issued (Repaid) | -500.00M | -582.00M | -1.50B | -786.00M | -1.20B | -319.00M |
| Issuance of Common Stock | 98.00M | 48.00M | ||||
| Common Dividends Paid | -219.00M | -209.00M | -194.00M | -180.00M | -167.00M | |
| Dividends Paid | -219.00M | -209.00M | -194.00M | -180.00M | -167.00M | -155.00M |
| Other Financing Activities | 423.00M | 943.00M | 1.33B | 842.00M | -144.00M | 841.00M |
| Financing Cash Flow | -198.00M | 200.00M | -363.00M | -124.00M | -1.51B | 367.00M |
| Miscellaneous Cash Flow Adjustments | -14.00M | |||||
| Net Cash Flow | -243.00M | 85.00M | -318.00M | 55.00M | 342.00M | 189.00M |
| Free Cash Flow | 532.00M | 342.00M | 483.00M | 408.00M | 675.00M | 529.00M |
| Free Cash Flow Margin | 33.80% | 23.93% | 35.23% | 31.05% | 56.72% | 41.13% |
| Free Cash Flow Per Share | 4.42 | 2.87 | 4.09 | 3.49 | 5.77 | 4.52 |
| Levered Free Cash Flow | 421.75M | 201.88M | 693.62M | 53.75M | 785.62M | 185.00M |
| Unlevered Free Cash Flow | 651.00M | 428.75M | 871.50M | 251.38M | 916.62M | 366.00M |
| Cash Interest Paid | 348.00M | 348.00M | 324.00M | 304.00M | 317.00M | 337.00M |
| Cash Income Tax Paid | 1.00M | 1.00M | 1.00M | 31.00M | 9.00M | |
| Change in Working Capital | -28.00M | -30.00M | -47.00M | -70.00M | 18.00M | -9.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.57B | 3.91B | 3.00B | 3.15B | 3.66B | 4.10B |
| Enterprise Value | 16.19B | 16.64B | 13.90B | 12.81B | 12.22B | 13.38B |
| PE Ratio | 38.21 | 23.13 | 34.09 | 39.81 | 6.28 | 80.49 |
| PS Ratio | 4.18 | 2.74 | 2.19 | 2.39 | 3.07 | 3.19 |
| PB Ratio | 2.10 | 0.66 | 0.54 | 0.63 | 0.91 | 1.24 |
| P/FCF Ratio | 12.36 | 11.43 | 6.21 | 7.71 | 5.42 | 7.76 |
| P/OCF Ratio | 6.47 | 5.68 | 3.90 | 4.48 | 4.64 | 5.86 |
| EV/Sales Ratio | 10.29 | 11.64 | 10.14 | 9.75 | 10.27 | 10.40 |
| EV/EBITDA Ratio | 13.86 | 15.92 | 13.72 | 12.94 | 13.80 | 14.31 |
| EV/EBIT Ratio | 63.25 | 84.03 | 68.12 | 45.91 | 60.78 | 47.77 |
| EV/FCF Ratio | 30.44 | 48.65 | 28.77 | 31.39 | 18.10 | 25.29 |
| Debt / Equity Ratio | 1.77 | 1.60 | 1.40 | 1.74 | 1.83 | 2.53 |
| Debt / EBITDA Ratio | 7.95 | 8.50 | 7.35 | 8.33 | 7.90 | 8.54 |
| Debt / FCF Ratio | 18.61 | 27.63 | 16.06 | 21.26 | 10.91 | 15.77 |
| Net Debt / Equity Ratio | 1.72 | 1.55 | 1.33 | 1.62 | 1.66 | 2.47 |
| Net Debt / EBITDA Ratio | 8.23 | 8.80 | 7.30 | 8.18 | 7.55 | 8.73 |
| Net Debt / FCF Ratio | 18.08 | 26.90 | 15.30 | 19.85 | 9.90 | 15.43 |
| Quick Ratio | 0.66 | 0.41 | 0.74 | 1.01 | 1.35 | 0.20 |
| Current Ratio | 1.21 | 1.13 | 1.49 | 1.72 | 2.07 | 0.94 |
| Asset Turnover | 0.10 | 0.09 | 0.09 | 0.10 | 0.10 | 0.11 |
| Return on Equity (ROE) | -3.17% | -4.03% | -1.19% | -0.31% | 28.91% | -2.49% |
| Return on Assets (ROA) | 0.97% | 0.80% | 0.88% | 1.29% | 1.00% | 1.49% |
| Return on Capital Employed (ROCE) | 1.60% | 1.30% | 1.50% | 2.00% | 1.70% | 2.50% |
| Earnings Yield | 2.62% | 4.32% | 2.93% | 2.51% | 15.92% | 1.24% |
| FCF Yield | 8.09% | 8.75% | 16.10% | 12.97% | 18.47% | 12.89% |
| Dividend Yield | 5.93% | 5.40% | 6.48% | 5.73% | 4.57% | 3.76% |
| Payout Ratio | 221.39% | 123.67% | 220.45% | 227.85% | 28.69% | 303.92% |
| Buyback Yield / Dilution | -1.69% | -0.85% | -0.85% | -0.86% | ||
| Total Shareholder Return | 4.24% | 4.55% | 5.62% | 5.73% | 4.57% | 2.90% |