CWENClearway Energy, Inc.
Is the business good?
The checks split: earnings fully cash-backed (6.1×), but margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Profits are tracking sales roughly one-for-one, limited operating leverage either way.
A balanced mix of margins, efficiency, and leverage. ROE 2% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CWEN?
Clearway Energy, Inc. earns 1.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 7.8 points below what the capital costs: growth destroys value
- Operating margin
- 13%
Operating margin · Utilities median 21% · 12 months to Q2 2026
- Cash conversion
- 6.10×
Cash conversion · 4.36× a year ago · operating cash flow covers the operating profit after tax
- Gross margin
- 64%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 28% |
| FY2021 | 21% |
| FY2022 | 124% |
| FY2023 | 20% |
| FY2024 | 14% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q2 2026
- 64%
- Operating margin12 months to Q2 2026
- 13%
- Net margin12 months to Q2 2026
- 6.4%
- Free cash flow margin
- 43%
- Revenue, trailing twelve months
- $1.57B
- Free cash flow, trailing twelve months
- $671M
- Net income, trailing twelve months
- $101M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 1.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.