Forensic Analysis · Utilities · as of Sep 25, 2026
Clearway Energy, Inc. (CWEN)
A forensic read on Clearway Energy, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
0.6
Distress distance
Clean
Earnings quality
4
Forensic signals
37.8
P / E (ttm)
2.9%
ROE
$4.9B
Market cap
4.70%
Dividend yield
4.2%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Clearway Energy, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 0.6, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
0.8%
FY2025
Return on invested capital.Return on invested capital is 0.8% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.7-point range. After-tax operating profit was $208M in FY2023 and $126M in FY2025, with operating income at 20.0% of revenue in FY2023, 14.3% in FY2024 and 11.2% in FY2025. The capital base behind it grew +17% across FY2023–FY2025, from $13.8B to $16.1B, while the return fell 0.7 points, so the dollars added over that window earned less than the 1.5% the older base was already earning. FY2023's operating profit carried a $12M asset write-down that alone took about 0.1 points off that year's return, so the FY2025 return is being compared with a base year that charge had already pulled down.
+14.1%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +14.1% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by inventory up +17% against +6% in cost of sales and PP&E up +17% against revenue +4%. A cash-flow measure on the same base disagrees: reported earnings ran in line with operating cash by 4% of net operating assets, against an accruals ratio of 14.1%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
0.0%/yr
FY2023–FY2025
Share count.Diluted share count changed 0% over the last 2 years to FY2025 (0.0%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.
-90%
Key fundamentals
Latest Revenue$1.43B
Revenue Growth YoY+4.2%
Revenue CAGR (2yr)+4.3%
Net Margin11.8%
Free Cash Flow$369.0M
Return on Equity2.9%
Debt / Equity1.48x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Clearway Energy, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 25, 2026. Forensic signals flag probability, not certainty.
FY2024→FY2025
Dividend — cut.The payout was CUT ~90% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.
Clearway Energy, Inc. (CWEN) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy