NYSE : ED
Consolidated Edison, Inc. — Financial statements
Utilities · Utilities - Regulated Electric · United States
Last price 116.64 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 43.14B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Consolidated Edison, Inc. (ED) reported revenue of 17.69B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 17.69B | 16.92B | 15.26B | 14.66B | 15.67B | 13.68B |
| Fuel & Purchased Power | 3.52B | 3.21B | 2.74B | 2.82B | 2.83B | 2.06B |
| Operations & Maintenance | 3.78B | 3.80B | 3.75B | 3.61B | 3.90B | 3.25B |
| Depreciation & Amortization | 2.33B | 2.32B | 2.15B | 2.03B | 2.06B | 2.03B |
| Other Operating Expenses | 4.23B | 3.89B | 3.33B | 3.13B | 3.90B | 3.64B |
| Total Operating Expenses | 13.86B | 13.22B | 11.97B | 11.59B | 12.69B | 10.99B |
| Operating Income | 3.83B | 3.70B | 3.28B | 3.08B | 2.98B | 2.69B |
| Interest Expense | -1.31B | -1.29B | -1.25B | -1.07B | -987.00M | -930.00M |
| Interest Income | 59.00M | 63.00M | 62.00M | 62.00M | 119.00M | 14.00M |
| Net Interest Expense | -1.25B | -1.23B | -1.19B | -1.01B | -868.00M | -916.00M |
| Allowance for Equity Funds for Construction | 80.00M | 69.00M | 38.00M | 26.00M | 19.00M | 21.00M |
| Allowance for Borrowed Funds for Construction | 63.00M | 62.00M | 63.00M | 52.00M | 36.00M | 11.00M |
| Other Non-Operating Income (Expenses) | -18.00M | -7.00M | 4.00M | -3.00M | -67.00M | -1.00M |
| EBT Excluding Unusual Items | 2.71B | 2.59B | 2.20B | 2.14B | 2.10B | 1.80B |
| Gain (Loss) on Sale of Investments | 189.00M | -420.00M | ||||
| Gain (Loss) on Sale of Assets | 4.00M | 4.00M | -62.00M | 865.00M | ||
| Pretax Income | 2.90B | 2.60B | 2.14B | 3.00B | 2.10B | 1.38B |
| Income Tax Expense | 685.00M | 574.00M | 318.00M | 487.00M | 498.00M | 190.00M |
| Earnings From Continuing Ops. | 2.22B | 2.02B | 1.82B | 2.52B | 1.60B | 1.19B |
| Minority Interest in Earnings | 3.00M | 60.00M | 153.00M | |||
| Net Income | 2.22B | 2.02B | 1.82B | 2.52B | 1.66B | 1.35B |
| Net Income to Common | 2.22B | 2.02B | 1.82B | 2.52B | 1.66B | 1.35B |
| Shares Outstanding (Basic) | 362.95M | 357.40M | 346.00M | 347.70M | 354.50M | 348.40M |
| Shares Outstanding (Diluted) | 364.20M | 358.70M | 347.30M | 349.30M | 355.80M | 349.40M |
| EPS (Basic) | 6.11 | 5.66 | 5.26 | 7.24 | 4.68 | 3.86 |
| EPS (Diluted) | 6.09 | 5.64 | 5.24 | 7.21 | 4.66 | 3.85 |
| Free Cash Flow | -862.00M | 36.00M | -1.16B | -2.34B | -233.00M | -1.22B |
| Free Cash Flow Per Share | -2.37 | 0.10 | -3.33 | -6.69 | -0.66 | -3.49 |
| Dividend Per Share | 3.48 | 3.40 | 3.32 | 3.24 | 3.16 | 3.10 |
| Profit Margin | 12.53% | 11.96% | 11.93% | 17.18% | 10.59% | 9.84% |
| Free Cash Flow Margin | -4.87% | 0.21% | -7.58% | -15.95% | -1.49% | -8.92% |
| EBITDA | 6.16B | 6.02B | 5.44B | 5.11B | 5.03B | 4.72B |
| EBITDA Margin | 34.84% | 35.59% | 35.64% | 34.83% | 32.12% | 34.51% |
| D&A For EBITDA | 2.33B | 2.32B | 2.15B | 2.03B | 2.06B | 2.03B |
| EBIT | 3.83B | 3.70B | 3.28B | 3.08B | 2.98B | 2.69B |
| EBIT Margin | 21.66% | 21.88% | 21.52% | 20.98% | 19.00% | 19.66% |
| Effective Tax Rate | 23.60% | 22.10% | 14.87% | 16.22% | 23.74% | 13.74% |
| Revenue as Reported | 17.69B | 16.92B | 15.26B | 14.66B | 15.67B | 13.68B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.47B | 1.63B | 1.32B | 1.19B | 1.28B | 992.00M |
| Accounts Receivable | 3.47B | 3.62B | 3.49B | 3.34B | 3.06B | 2.79B |
| Other Receivables | 240.00M | 243.00M | 437.00M | 445.00M | 174.00M | 311.00M |
| Inventory | 534.00M | 530.00M | 485.00M | 469.00M | 492.00M | 437.00M |
| Prepaid Expenses | 440.00M | 381.00M | 445.00M | 470.00M | 264.00M | 295.00M |
| Restricted Cash | 154.00M | |||||
| Other Current Assets | 637.00M | 350.00M | 483.00M | 621.00M | 7.70B | 567.00M |
| Total Current Assets | 6.79B | 6.75B | 6.66B | 6.54B | 12.97B | 5.55B |
| Property, Plant & Equipment | 57.57B | 55.89B | 52.66B | 50.14B | 47.33B | 49.41B |
| Regulatory Assets | 5.68B | 5.60B | 5.52B | 4.61B | 3.97B | 3.64B |
| Goodwill | 406.00M | 406.00M | 408.00M | 408.00M | 408.00M | 439.00M |
| Other Intangible Assets | 1.29B | |||||
| Long-Term Investments | 1.10B | 593.00M | 543.00M | 475.00M | 382.00M | 328.00M |
| Long-Term Deferred Charges | 436.00M | 390.00M | 364.00M | 316.00M | 185.00M | 203.00M |
| Other Long-Term Assets | 4.47B | 4.97B | 4.40B | 3.85B | 3.81B | 2.26B |
| Total Assets | 76.46B | 74.60B | 70.56B | 66.33B | 69.06B | 63.12B |
| Accounts Payable | 1.77B | 1.95B | 1.68B | 1.77B | 1.96B | 1.50B |
| Accrued Expenses | 770.00M | 778.00M | 773.00M | 739.00M | 659.00M | 687.00M |
| Short-Term Debt | 721.00M | 2.08B | 2.67B | 2.29B | 3.04B | 1.49B |
| Current Portion of Long-Term Debt | 250.00M | 250.00M | 250.00M | 649.00M | 460.00M | |
| Current Portion of Leases | 125.00M | 124.00M | 118.00M | 116.00M | 103.00M | 113.00M |
| Current Income Taxes Payable | 97.00M | 104.00M | 70.00M | 73.00M | 102.00M | 104.00M |
| Other Current Liabilities | 1.62B | 1.34B | 1.13B | 1.22B | 4.83B | 1.08B |
| Total Current Liabilities | 5.35B | 6.61B | 6.43B | 6.46B | 11.34B | 5.43B |
| Long-Term Debt | 26.84B | 25.55B | 24.65B | 21.93B | 20.15B | 22.64B |
| Long-Term Leases | 381.00M | 379.00M | 386.00M | 429.00M | 476.00M | 717.00M |
| Long-Term Unearned Revenue | 232.00M | 397.00M | 436.00M | 326.00M | 273.00M | 312.00M |
| Pension & Post-Retirement Benefits | 1.61B | 1.79B | 1.97B | 1.82B | 2.36B | 871.00M |
| Long-Term Deferred Tax Liabilities | 11.22B | 10.74B | 10.10B | 9.60B | 9.39B | 8.86B |
| Other Long-Term Liabilities | 5.09B | 4.94B | 4.62B | 4.61B | 4.19B | 3.95B |
| Total Liabilities | 50.74B | 50.41B | 48.60B | 45.17B | 48.18B | 42.78B |
| Common Stock | 40.00M | 39.00M | 38.00M | 37.00M | 37.00M | 37.00M |
| Additional Paid-In Capital | 12.39B | 11.44B | 9.99B | 9.86B | 9.80B | 9.71B |
| Retained Earnings | 15.44B | 14.86B | 14.05B | 13.38B | 11.98B | 11.45B |
| Treasury Stock | -2.02B | -2.02B | -2.02B | -2.02B | -1.04B | -1.04B |
| Comprehensive Income & Other | -139.00M | -125.00M | -93.00M | -100.00M | -100.00M | -117.00M |
| Total Common Equity | 25.72B | 24.19B | 21.96B | 21.16B | 20.69B | 20.04B |
| Minority Interest | 202.00M | 299.00M | ||||
| Shareholders' Equity | 25.72B | 24.19B | 21.96B | 21.16B | 20.89B | 20.34B |
| Total Liabilities & Equity | 76.46B | 74.60B | 70.56B | 66.33B | 69.06B | 63.12B |
| Total Debt | 28.32B | 28.38B | 27.82B | 25.01B | 24.41B | 25.42B |
| Net Cash (Debt) | -26.85B | -26.75B | -26.50B | -23.82B | -23.13B | -24.43B |
| Net Cash Per Share | -73.72 | -74.57 | -76.31 | -68.20 | -65.02 | -69.91 |
| Filing Date Shares Outstanding | 369.83M | 361.25M | 346.71M | 345.51M | 355.05M | 354.09M |
| Total Common Shares Outstanding | 370.00M | 361.12M | 346.60M | 345.42M | 354.96M | 353.98M |
| Working Capital | 1.44B | 136.00M | 231.00M | 75.00M | 1.64B | 124.00M |
| Book Value Per Share | 69.51 | 66.99 | 63.36 | 61.25 | 58.28 | 56.60 |
| Tangible Book Value | 25.31B | 23.78B | 21.55B | 20.75B | 20.28B | 18.30B |
| Tangible Book Value Per Share | 68.41 | 65.86 | 62.19 | 60.07 | 57.13 | 51.71 |
| Machinery | 70.37B | 68.45B | 64.37B | 61.31B | 57.34B | 54.24B |
| Construction In Progress | 3.67B | 3.41B | 3.17B | 2.44B | 2.48B | 2.34B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.22B | 2.02B | 1.82B | 2.52B | 1.66B | 1.35B |
| Depreciation & Amortization | 2.33B | 2.32B | 2.15B | 2.03B | 2.06B | 2.03B |
| Loss (Gain) on Sale of Assets | 62.00M | -865.00M | 212.00M | |||
| Loss (Gain) on Sale of Investments | -189.00M | 231.00M | ||||
| Change in Accounts Receivable | -67.00M | -15.00M | -188.00M | -323.00M | -392.00M | -464.00M |
| Change in Inventory | -111.00M | -82.00M | ||||
| Change in Accounts Payable | -103.00M | 161.00M | -1.00M | -285.00M | 558.00M | 44.00M |
| Change in Income Taxes | -24.00M | 167.00M | -149.00M | -10.00M | 10.00M | -46.00M |
| Change in Other Net Operating Assets | -957.00M | -650.00M | -617.00M | -1.05B | -215.00M | -578.00M |
| Other Operating Activities | 747.00M | 793.00M | 532.00M | 140.00M | 369.00M | 38.00M |
| Operating Cash Flow | 3.96B | 4.80B | 3.61B | 2.16B | 3.94B | 2.73B |
| Capital Expenditures | -4.82B | -4.76B | -4.77B | -4.49B | -4.17B | -3.95B |
| Divestitures | 45.00M | 3.93B | 812.00M | |||
| Contributions to Nuclear Demissioning Trust | -438.00M | -481.00M | -474.00M | -387.00M | -337.00M | -323.00M |
| Other Investing Activities | -51.00M | -49.00M | -28.00M | -49.00M | -60.00M | -20.00M |
| Investing Cash Flow | -4.95B | -5.25B | -5.27B | -1.00B | -4.57B | -3.48B |
| Short-Term Debt Issued | 500.00M | 500.00M | 200.00M | 1.70B | ||
| Long-Term Debt Issued | 1.15B | 2.98B | 2.05B | 800.00M | 2.80B | |
| Total Debt Issued | 2.75B | 1.65B | 3.48B | 2.25B | 2.50B | 2.80B |
| Short-Term Debt Repaid | -1.09B | -118.00M | -952.00M | -382.00M | ||
| Long-Term Debt Repaid | -477.00M | -710.00M | -406.00M | -1.96B | ||
| Total Debt Repaid | -1.50B | -1.09B | -595.00M | -1.66B | -406.00M | -2.34B |
| Net Debt Issued (Repaid) | 1.25B | 555.00M | 2.88B | 588.00M | 2.10B | 462.00M |
| Issuance of Common Stock | 950.00M | 1.37B | 60.00M | 56.00M | 57.00M | 835.00M |
| Repurchase of Common Stock | -1.00B | |||||
| Common Dividends Paid | -1.21B | -1.17B | -1.10B | -1.10B | -1.09B | -1.03B |
| Other Financing Activities | -31.00M | -15.00M | -43.00M | -36.00M | -50.00M | 194.00M |
| Financing Cash Flow | 956.00M | 746.00M | 1.80B | -1.49B | 1.01B | 461.00M |
| Net Cash Flow | -37.00M | 297.00M | 138.00M | -335.00M | 384.00M | -290.00M |
| Free Cash Flow | -862.00M | 36.00M | -1.16B | -2.34B | -233.00M | -1.22B |
| Free Cash Flow Margin | -4.87% | 0.21% | -7.58% | -15.95% | -1.49% | -8.92% |
| Free Cash Flow Per Share | -2.37 | 0.10 | -3.33 | -6.69 | -0.66 | -3.49 |
| Levered Free Cash Flow | -844.88M | -145.25M | -1.47B | 1.45B | -3.76B | -1.35B |
| Unlevered Free Cash Flow | -28.62M | 664.12M | -684.12M | 2.12B | -3.14B | -767.00M |
| Cash Interest Paid | 1.17B | 1.15B | 1.07B | 987.00M | 900.00M | 924.00M |
| Cash Income Tax Paid | 35.00M | -165.00M | 7.00M | 397.00M | 47.00M | 9.00M |
| Change in Working Capital | -1.15B | -337.00M | -955.00M | -1.67B | -150.00M | -1.13B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 43.71B | 35.85B | 30.91B | 31.40B | 33.82B | 30.18B |
| Enterprise Value | 70.56B | 62.34B | 57.11B | 54.64B | 60.02B | 54.71B |
| PE Ratio | 19.42 | 17.72 | 16.99 | 12.47 | 20.38 | 22.42 |
| PS Ratio | 2.45 | 2.12 | 2.03 | 2.14 | 2.16 | 2.21 |
| PB Ratio | 1.68 | 1.48 | 1.41 | 1.48 | 1.62 | 1.48 |
| P/FCF Ratio | 995.78 | |||||
| P/OCF Ratio | 10.96 | 7.47 | 8.55 | 14.57 | 8.60 | 11.04 |
| EV/Sales Ratio | 3.97 | 3.69 | 3.74 | 3.73 | 3.83 | 4.00 |
| EV/EBITDA Ratio | 11.39 | 10.35 | 10.50 | 10.70 | 11.92 | 11.59 |
| EV/EBIT Ratio | 18.33 | 16.84 | 17.40 | 17.76 | 20.15 | 20.35 |
| EV/FCF Ratio | 1,731.73 | |||||
| Debt / Equity Ratio | 1.10 | 1.17 | 1.27 | 1.18 | 1.17 | 1.25 |
| Debt / EBITDA Ratio | 4.54 | 4.66 | 5.05 | 4.83 | 4.77 | 5.29 |
| Debt / FCF Ratio | 788.31 | |||||
| Net Debt / Equity Ratio | 1.04 | 1.11 | 1.21 | 1.13 | 1.11 | 1.20 |
| Net Debt / EBITDA Ratio | 4.36 | 4.44 | 4.87 | 4.66 | 4.59 | 5.17 |
| Net Debt / FCF Ratio | -31.15 | 743.06 | -22.91 | -10.19 | -99.28 | -20.02 |
| Quick Ratio | 0.97 | 0.83 | 0.82 | 0.77 | 0.40 | 0.76 |
| Current Ratio | 1.27 | 1.02 | 1.04 | 1.01 | 1.14 | 1.02 |
| Asset Turnover | 0.24 | 0.23 | 0.22 | 0.22 | 0.24 | 0.22 |
| Return on Equity (ROE) | 8.96% | 8.77% | 8.44% | 11.97% | 7.76% | 6.06% |
| Return on Assets (ROA) | 3.24% | 3.19% | 3.00% | 2.84% | 2.82% | 2.67% |
| Return on Capital Employed (ROCE) | 5.40% | 5.40% | 5.10% | 5.10% | 5.20% | 4.70% |
| Earnings Yield | 5.15% | 5.64% | 5.89% | 8.02% | 4.91% | 4.46% |
| FCF Yield | -1.99% | 0.10% | -3.74% | -7.45% | -0.69% | -4.04% |
| Dividend Yield | 3.00% | 3.43% | 3.72% | 3.56% | 3.32% | 3.64% |
| Payout Ratio | 58.33% | 57.64% | 60.44% | 43.51% | 65.60% | 76.52% |
| Buyback Yield / Dilution | -3.54% | -3.28% | 0.57% | 1.83% | -1.83% | -4.08% |
| Total Shareholder Return | -0.51% | 0.14% | 4.29% | 5.39% | 1.48% | -0.45% |