Clearway Energy, Inc. (CWEN) intrinsic value & 10-year financials
Clearway Energy, Inc. (CWEN) has a Graham intrinsic value of $160.38 per share. At $29.93 on Oct 17, 2026, the stock trades 81% below that value. Over the last 10 fiscal years revenue grew 3.8% a year to $1.4B, with an average return on invested capital of 2.9%.
- Graham intrinsic value
- $160.38
- Share price (Oct 17, 2026)
- $29.93
- Price vs Graham value
- 81% below
- Market cap
- $1.0B
- Revenue (FY2025)
- $1.4B
- Revenue growth (10-yr CAGR)
- 3.8%
- ROIC (10-yr avg)
- 2.9%
- Free cash flow (FY2025)
- $369.0M
CWEN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.4B | $169.0M | — | $369.0M | 11.2% | 0.9% |
| FY2024 | $1.4B | $88.0M | $0.75 | $483.0M | 14.3% | 1.2% |
| FY2023 | $1.3B | $79.0M | $0.67 | $490.0M | 20.0% | 2.4% |
| FY2022 | $1.2B | $582.0M | $4.99 | $675.0M | 123.5% | 10.7% |
| FY2021 | $1.3B | $51.0M | $0.44 | $550.0M | 20.8% | 2.3% |
| FY2020 | $1.2B | $25.0M | $0.22 | $421.0M | 27.8% | 3.1% |
| FY2019 | $239.0M | -$11.0M | — | $249.0M | 93.7% | 1.8% |
| FY2018 | $245.0M | $48.0M | — | $415.0M | 141.6% | 2.3% |
| FY2017 | $1.0B | -$16.0M | — | $485.0M | 28.0% | 1.8% |
| FY2016 | $1.0B | -$15.0M | — | $540.0M | 21.4% | 2.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Clearway Energy, Inc. has demonstrated mature, steady growth, with revenue compounding at 3.8% annually over the past decade.
Clearway Energy, Inc. has historically struggled to out-earn its cost of capital, averaging just 2.9% ROIC.
Clearway Energy, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Clearway Energy, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $160.38 per share.