Clearway Energy (CWEN) financial statements
Clearway Energy reported revenue of $1.4B in fiscal 2025, up 3.6% a year over 9 years.
Net income was $169M and the operating margin 11.2%, against 21.4% in 2016.
Free cash flow was $369M.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Clearway Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0B | $1.0B | $1.1B | $1.0B | $1.2B | $1.3B | $1.2B | $1.3B | $1.4B | $1.4B |
| Cost of revenue | $308M | $326M | $327M | $337M | $366M | $451M | $435M | $473M | $501M | $530M |
| Gross profit | $727M | $683M | $726M | $695M | $833M | $835M | $755M | — | — | — |
| Selling, general and admin | $16M | $19M | $20M | $29M | $34M | $40M | $40M | $36M | $39M | $41M |
| Operating income | $222M | $283M | $347M | $224M | $333M | $267M | $1.5B | $263M | $196M | $160M |
| Interest expense | $284M | $307M | $306M | $404M | $415M | $312M | $232M | $337M | $307M | $387M |
| Pre-tax income | $1M | $48M | $116M | -$104M | -$54M | -$63M | $1.3B | -$16M | -$33M | -$175M |
| Income tax | -$1M | $72M | $62M | -$8M | $8M | $12M | $222M | -$2M | $30M | $56M |
| Net income | $57M | -$16M | $48M | -$11M | $25M | $51M | $582M | $79M | $88M | $169M |
| EPS (diluted) | — | — | $0.46 | -$0.10 | $0.22 | $0.44 | $4.99 | $0.67 | $0.75 | — |
| Diluted shares | — | — | — | — | 35M | 35M | 35M | 35M | 35M | 35M |
| Gross margin | 70.2% | 67.7% | 68.9% | 67.3% | 69.5% | 64.9% | 63.4% | — | — | — |
| Operating margin | 21.4% | 28.0% | 33.0% | 21.7% | 27.8% | 20.8% | 123.5% | 20.0% | 14.3% | 11.2% |
| Net margin | 5.5% | -1.6% | 4.6% | -1.1% | 2.1% | 4.0% | 48.9% | 6.0% | 6.4% | 11.8% |
Balance sheet
Fiscal years, from Clearway Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $322M | $148M | $407M | $155M | $268M | $179M | $657M | $535M | $332M | $231M |
| Receivables | $95M | $95M | $104M | $116M | $143M | $144M | $153M | — | — | — |
| Inventory | $39M | $39M | $40M | $40M | $42M | $37M | $47M | $55M | $64M | $75M |
| Total current assets | $670M | $482M | $756M | $608M | $708M | $1.5B | $1.3B | $1.6B | $1.1B | $1.2B |
| Property, plant and equipment | $5.6B | $5.4B | $5.2B | $6.1B | $7.2B | $7.7B | $7.4B | $9.5B | $9.9B | $11.6B |
| Total assets | $9.0B | $8.5B | $8.5B | $9.7B | $10.6B | $12.8B | $12.3B | $14.7B | $14.3B | $16.7B |
| Total current liabilities | $505M | $540M | $704M | $2.1B | $634M | $1.6B | $617M | $906M | $718M | $1.0B |
| Long-term debt | $5.7B | $5.7B | $5.4B | $5.0B | $6.6B | $6.9B | $6.5B | $7.5B | $6.8B | $7.9B |
| Total liabilities | $6.4B | $6.3B | $6.3B | $7.4B | $7.9B | $9.5B | $8.3B | $9.7B | $8.8B | $10.7B |
| Shareholders' equity | $2.6B | $2.2B | $2.2B | $2.3B | $2.7B | $3.3B | $4.0B | $5.0B | $5.6B | $5.8B |
| Net debt | $5.4B | $5.5B | $5.6B | $6.6B | $6.7B | $7.5B | $6.2B | $7.5B | $6.8B | $8.4B |
Cash flow
Fiscal years, from Clearway Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $577M | $517M | $498M | $477M | $545M | $701M | $787M | $702M | $770M | $688M |
| Capital spending | $20M | $190M | $83M | $228M | $124M | $151M | $112M | $212M | $287M | $319M |
| Free cash flow | $557M | $327M | $415M | $249M | $421M | $550M | $675M | $490M | $483M | $369M |
| Stock-based compensation | $1M | $2M | $3M | $4M | $3M | $4M | — | — | — | — |
| Dividends paid | $173M | $202M | $238M | — | — | — | — | — | — | — |
| Net borrowing | $471M | -$122M | $17M | -$269M | -$443M | -$564M | -$954M | -$786M | -$1.5B | -$943M |
| Free cash flow margin | 53.8% | 32.4% | 39.4% | 24.1% | 35.1% | 42.8% | 56.7% | 37.3% | 35.2% | 25.8% |
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Open CWEN in InvestinglyQuestions
What was Clearway Energy's revenue in 2025?
$1.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Clearway Energy generate?
$369M in fiscal 2025 (operating cash flow minus capital spending).
From Clearway Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.