Clearway Energy, Inc. (CWEN) Stock

Clearway Energy, Inc. (CWEN) is a Utilities stock trading at $32.55 (as of 2026-08-21), with a market capitalization of $6.68B and a trailing P/E of 73.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Clearway Energy, Inc. operates in the renewable energy business in the United States. It has approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities. The company was formerly known as NRG Yield, Inc. and changed its name to Clearway Energy, Inc. in August 2018. Clearway Energy, Inc. was incorporated in 2012 and is based in Princeton, New Jersey. Clearway Energy, Inc. is a subsidiary of Clearway Energy Group LLC.

Understand Clearway Energy, Inc.: how it makes money

Clearway Energy, Inc. owns and operates renewable power generation in the United States, with installed wind and solar projects and natural gas generation facilities, and it makes money by generating and selling power (megawatt hours) and from contracted capacity tied to resource adequacy.

Profit is structurally driven by how much electricity Clearway generates and sells (megawatt hours generated and sold) and how much capacity it has contracted for resource adequacy (contracted through 2027), with battery uptime supporting storage value (battery availability).

Business quality (Weak): Segment-level reporting details were not provided, so investors have to rely on operating metrics tied to generation output and contracted capacity to understand the profit drivers.

Valuation: At 50× earnings, CWEN trades 127% above the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

Contracted capacity visibility: Resource Adequacy Capacity Contracted Through 2027 is provided as a key operating metric, which can support revenue stability relative to purely spot exposure.
Storage reliability: Battery Availability is shown at a high level (99.0 percent), which supports the ability to deliver when storage generation is needed.

Bear case

Execution and project timing impacts: The provided operating items include a Second Quarter 2023 ALTA Projects Revenue Decrease Versus Expectations (approximately), which highlights sensitivity to project outcomes versus expectations.
Generation and output variability: Megawatt hours generated and sold are tracked for renewables and storage, so variability in generation output can translate into revenue variability.

Valuation — source: SEC EDGAR (first-party)
Price	$32.55
Market Cap	$6.68B
P/E Ratio	73.4
EV / EBITDA	16.1
Price / Book	1.22
Price / Sales	4.24
FCF Yield	10.0%
DCF Value (model)	$61.66
DCF Upside vs Price	89.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.43B
Net Margin	11.8%
Revenue Growth (YoY)	22.7%
FCF Growth (YoY)	13.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	0.51 (distress)
Piotroski F-Score	4/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	73.4
Sector P/E (Utilities)	20.8
Industry P/E (Utilities)	20.1
vs Sector	252.3%
vs Industry	265.6%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($546.80M)
Institutional Holders Tracked	10
Congressional Trades (recent)	4

Company
Sector	Utilities
Industry	Utilities
CEO	Craig Cornelius
Employees	60
Country	US
IPO Date	2015-05-15

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.