Start here if you're new
what it is
Clearway owns power and thermal infrastructure and sells most of the output under long-term contracts across North America.
how it gets paid
Last year Clearway Energy made $1.4B in revenue. contracted power generation assets was the main engine at $0.76B, or 76% of sales.
what just happened
Full-year 2024 EPS came in at $0.75, but Q4 EPS was only $0.03 after a much stronger $0.43 in Q2.
At a glance
B balance sheet — gets the job done, barely
5/100 earnings predictability — expect surprises
16.0x trailing p/e — the market's not buying it — or you found a deal
4.8% dividend yield — cash in your pocket every quarter
2.7% return on capital — nothing to write home about
xvary composite: 51/100 — below average
What they do
Clearway owns power and thermal infrastructure and sells most of the output under long-term contracts across North America.
Nearly all output is sold under long-term offtake agreements (pre-sold power contracts → buyers commit years ahead → your cash flow is less exposed to daily power prices). That matters when long-term debt is $8.9B, or 75% of capital. The portfolio spans 5,272 MW of wind, solar, and gas generation plus 1,530 MWt of thermal assets, so you are buying contracted infrastructure, not a commodity guess.
How they make money
$1.4B
annual revenue
contracted power generation assets
$0.76B
district energy systems
$0.22B
thermal electric generation
$0.02B
other
$0.00B
The products that matter
generates and sells wind power
Wind Power
$0.9B · about 64% of disclosed segment revenue
it's the bigger leg of the business at roughly $0.9B. If you own CWENA, wind still sets the tone.
largest segment
generates and sells solar power
Solar Power
$0.5B · about 36% of disclosed segment revenue
this roughly $0.5B segment gives you diversification inside the same 5,000 megawatt fleet. It helps, but it does not change the capital-heavy math.
portfolio ballast
quarterly cash payout
Quarterly Dividend
$0.4602 per share · 4.8% yield
the payout is the stock's main selling point: $0.4602 each quarter on a $37.49 share price translates to a 4.8% yield. That's why people show up.
why people own it
Key numbers
$8.9B
long-term debt
That is the number to watch. Your equity is about $3B, so the debt stack is the whole story.
75%
debt to capital
Debt makes up three quarters of the capital structure. Translation: lenders matter almost as much as customers.
60.6%
operating margin
Operating margin → profit left after running the business → so what: the assets themselves look lucrative before financing costs.
4.8%
dividend yield
You are being paid to wait, but that payout only feels safe if contracted cash keeps showing up.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- long-term debt $8.9B (75% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CWENA right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Full-year 2024 EPS came in at $0.75, but Q4 EPS was only $0.03 after a much stronger $0.43 in Q2.
That is the setup here. Contracted assets can produce stable cash flow while reported EPS still jumps around by quarter. The 2024 quarterly EPS path was -$0.02, $0.43, $0.31, and $0.03, with full-year EPS of $0.75.
$1.4B
ttm revenue
$0.03
q4 eps
60.6%
operating margin
the number that mattered
The number is $0.75 because it matched the full-year estimate and shows Clearway is still a dividend story more than a fast-growth earnings story.
source: quarterly EPS history,; TTM revenue, Yahoo Finance consensus
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the main risk is simple: CWENA carries $8.9B of long-term debt, equal to 75% of capital, while return on equity sits at -4.0%. If you own this for income, you are trusting project cash flows to carry a lot of financial weight.
high
debt leaves less room for error
$8.9B of long-term debt equals 75% of capital. That works when projects perform and funding stays open. It gets uncomfortable fast if either slips.
balance sheet pressure would hit equity holders first
high
the dividend can look cleaner than the business underneath it
A 4.8% yield attracts buyers. A -4.0% return on equity is the reminder that paying shareholders and creating shareholder value are not the same thing.
income sentiment can reverse quickly if payout confidence weakens
med
share class merger changes the setup you bought into
The board approved a merger of the A and C share classes in March 2026. Simplification can help liquidity and governance, but any control change deserves more than a shrug.
expect headline risk until the process is complete
med
earnings quality is still hard to trust
Earnings predictability is 5/100. One quarter came in at $0.37 versus a -$0.25 estimate, which is impressive, but it also tells you this business can surprise in both directions.
volatile reported results can compress the multiple
$8.9B of debt equals 75% of capital, and return on equity is -4.0%. If project economics or financing conditions slip, the 4.8% yield stops looking generous and starts looking expensive.
source: institutional data · regulatory filings · risk analysis
Pay attention to
balance sheet
debt as a share of capital
$8.9B of long-term debt is 75% of capital. If that ratio moves lower, the story gets cleaner. If it rises, the yield gets less comforting.
calendar
Q1 2026 earnings report
Expected around Apr 29, 2026. After a quarter that beat a loss estimate by $0.62, the next print matters more than usual.
corporate action
share class merger progress
The board approved the A and C share class merger in March 2026. Watch the consent process and final terms, not just the headline.
payout
dividend consistency
The last ex-dividend date was Mar 2, 2026, for $0.453 per share. This stock is owned for yield, so payout steadiness is part of the valuation.
Analyst rankings
earnings predictability
5 / 100
in human-speak: analysts do not trust this business to print smooth, repeatable quarters.
risk rank
3
roughly middle of the pack for safety. Not fragile, not a bunker.
balance sheet grade
B
good enough to operate, but not strong enough to make $8.9B of debt disappear as a concern.
source: institutional data
Institutional activity
institutional ownership data for CWENA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$37
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive