NYSE : EDN
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima — Financial statements
Utilities · Utilities - Regulated Electric · Argentina
Last price 16.66 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 774.72M
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Financial statements
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (EDN) reported revenue of 3.08T ARS (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.08T | 2.99T | 2.69T | 1.53T | 1.40T | 221.09B |
| Fuel & Purchased Power | 1.78T | 1.74T | 1.53T | 999.41B | 971.29B | 135.97B |
| Selling, General & Admin | 426.26B | 433.96B | 428.81B | 306.45B | 258.78B | 36.90B |
| Other Operating Expenses | 585.29B | 669.84B | 665.06B | 480.69B | 375.29B | 56.31B |
| Total Operating Expenses | 2.79T | 2.84T | 2.63T | 1.79T | 1.61T | 229.17B |
| Operating Income | 290.56B | 149.46B | 59.46B | -259.81B | -209.51B | -8.08B |
| Interest Expense | -281.81B | -305.54B | -439.37B | -694.39B | -594.24B | -52.45B |
| Interest Income | 6.89B | 1.77B | 1.06B | 800.00M | 442.00M | 127.00M |
| Net Interest Expense | -274.92B | -303.77B | -438.31B | -693.59B | -593.80B | -52.32B |
| Income (Loss) on Equity Investments | 138.00M | 43.00M | -17.00M | -21.00M | -37.00M | 4.00M |
| Currency Exchange Gain (Loss) | -45.56B | -63.72B | -18.47B | -105.24B | 10.03B | -3.12B |
| Other Non-Operating Income (Expenses) | 212.15B | 424.42B | 572.23B | 1.31T | 764.15B | 45.15B |
| EBT Excluding Unusual Items | 182.37B | 206.43B | 174.90B | 253.88B | -29.17B | -18.37B |
| Gain (Loss) on Sale of Investments | 103.61B | 91.31B | 87.99B | 143.86B | 19.16B | 7.73B |
| Gain (Loss) on Sale of Assets | 3.80B | -1.01B | -2.36B | |||
| Asset Writedown | -6.36B | -6.36B | -4.10B | -485.00M | ||
| Other Unusual Items | -6.78B | -52.00M | -4.53B | -5.51B | 6.00M | |
| Pretax Income | 276.63B | 291.33B | 254.26B | 396.72B | -17.88B | -11.12B |
| Income Tax Expense | 55.22B | 52.10B | -103.72B | 205.33B | 26.14B | 30.45B |
| Net Income | 221.41B | 239.24B | 357.98B | 191.39B | -44.01B | -41.58B |
| Net Income to Common | 221.41B | 239.24B | 357.98B | 191.39B | -44.01B | -41.58B |
| Shares Outstanding (Basic) | 875.00M | 875.00M | 875.00M | 875.00M | 875.00M | 875.00M |
| Shares Outstanding (Diluted) | 875.00M | 875.00M | 875.00M | 875.00M | 875.00M | 875.00M |
| EPS (Basic) | 253.05 | 273.41 | 409.12 | 218.73 | -50.30 | -47.52 |
| EPS (Diluted) | 253.05 | 273.41 | 409.12 | 218.73 | -50.30 | -47.52 |
| Free Cash Flow | -115.30B | -176.43B | -150.03B | -105.20B | 25.10B | 12.90B |
| Free Cash Flow Per Share | -131.77 | -201.63 | -171.46 | -120.22 | 28.68 | 14.74 |
| Profit Margin | 7.20% | 8.00% | 13.32% | 12.54% | -3.15% | -18.80% |
| Free Cash Flow Margin | -3.75% | -5.90% | -5.58% | -6.89% | 1.80% | 5.83% |
| EBITDA | 501.84B | 352.73B | 262.78B | -79.61B | -86.13B | 9.65B |
| EBITDA Margin | 16.31% | 11.79% | 9.78% | -5.21% | -6.17% | 4.36% |
| D&A For EBITDA | 211.28B | 203.27B | 203.32B | 180.21B | 123.38B | 17.73B |
| EBIT | 290.56B | 149.46B | 59.46B | -259.81B | -209.51B | -8.08B |
| EBIT Margin | 9.44% | 5.00% | 2.21% | -17.02% | -15.01% | -3.65% |
| Effective Tax Rate | 19.96% | 17.88% | 51.76% |
Balance sheet
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 548.12B | 207.18B | 31.46B | 19.88B | 11.05B | 6.18B |
| Short-Term Investments | 72.56B | 41.11B | 25.18B | 44.44B | 474.00M | |
| Trading Asset Securities | 667.70B | 565.67B | 477.98B | 179.93B | 194.63B | 30.10B |
| Accounts Receivable | 564.27B | 496.26B | 506.77B | 145.02B | 189.82B | 34.21B |
| Other Receivables | 10.73B | 1.59B | 18.88B | 22.55B | 126.81B | 2.82B |
| Inventory | 265.12B | 233.31B | 197.02B | 86.70B | 43.66B | 6.70B |
| Prepaid Expenses | 3.79B | 5.15B | 5.05B | 1.95B | ||
| Other Current Assets | 12.30B | 10.16B | 8.75B | 5.20B | 1.33B | |
| Total Current Assets | 2.14T | 1.56T | 1.27T | 505.68B | 565.97B | 81.82B |
| Property, Plant & Equipment | 4.88T | 4.14T | 3.96T | 2.78T | 2.69T | 381.41B |
| Long-Term Investments | 54.95B | 53.89B | 160.00M | 124.00M | 144.00M | 27.00M |
| Other Long-Term Assets | 837.00M | 526.00M | 162.00M | 6.00M | 20.00M | 14.00M |
| Total Assets | 7.08T | 5.76T | 5.24T | 3.29T | 3.26T | 463.27B |
| Accounts Payable | 438.32B | 314.41B | 806.46B | 425.27B | 1.22T | 128.88B |
| Accrued Expenses | 118.05B | 204.17B | 127.17B | 68.99B | 73.85B | 10.10B |
| Short-Term Debt | 193.18B | 190.94B | 72.97B | 618.00M | ||
| Current Portion of Long-Term Debt | 167.25B | 288.80B | 75.06B | 109.71B | 1.25B | 19.99B |
| Current Unearned Revenue | 10.68B | 5.88B | 4.30B | 2.81B | 298.00M | 1.02B |
| Current Portion of Leases | 4.24B | 4.16B | 5.10B | 4.71B | 522.00M | |
| Current Income Taxes Payable | 106.11B | 93.62B | 2.44B | |||
| Other Current Liabilities | 435.34B | 355.90B | 342.53B | 162.54B | 53.06B | 27.00B |
| Total Current Liabilities | 1.47T | 1.46T | 1.43T | 774.64B | 1.35T | 189.96B |
| Long-Term Debt | 1.34T | 704.55B | 466.93B | 96.57B | 98.58B | |
| Long-Term Leases | 2.97B | 4.28B | 6.59B | 1.64B | 154.00M | |
| Long-Term Unearned Revenue | 156.20B | 139.28B | 142.24B | 29.34B | 24.94B | 3.29B |
| Pension & Post-Retirement Benefits | 18.93B | 16.97B | 17.95B | 10.72B | 12.62B | 1.94B |
| Long-Term Deferred Tax Liabilities | 954.44B | 840.59B | 904.78B | 765.39B | 561.14B | 96.30B |
| Other Long-Term Liabilities | 383.97B | 372.94B | 280.47B | 374.73B | 167.72B | 28.08B |
| Total Liabilities | 4.33T | 3.54T | 3.25T | 2.05T | 2.21T | 319.72B |
| Common Stock | 875.00M | 875.00M | 875.00M | 875.00M | 875.00M | 875.00M |
| Additional Paid-In Capital | 15.88B | 13.59B | 13.59B | 10.27B | 10.18B | 1.49B |
| Retained Earnings | 1.67T | 1.30T | 1.06T | 531.53B | 340.14B | 39.46B |
| Treasury Stock | -93.53B | -80.05B | -80.05B | -60.86B | -60.86B | -8.97B |
| Comprehensive Income & Other | 1.16T | 992.07B | 990.92B | 750.79B | 752.84B | 110.69B |
| Shareholders' Equity | 2.75T | 2.22T | 1.98T | 1.23T | 1.04T | 143.55B |
| Total Liabilities & Equity | 7.08T | 5.76T | 5.24T | 3.29T | 3.26T | 463.27B |
| Total Debt | 1.71T | 1.19T | 626.65B | 213.23B | 99.83B | 20.66B |
| Net Cash (Debt) | -417.03B | -378.77B | -92.02B | 31.01B | 105.86B | 16.09B |
| Net Cash Per Share | -476.60 | -432.88 | -105.16 | 35.44 | 120.99 | 18.38 |
| Filing Date Shares Outstanding | 875.68M | 875.68M | 875.68M | 875.60M | 875.46M | 875.32M |
| Total Common Shares Outstanding | 875.68M | 875.68M | 875.68M | 875.60M | 875.46M | 875.32M |
| Working Capital | 671.43B | 102.56B | -162.48B | -268.96B | -781.82B | -108.14B |
| Book Value Per Share | 3,145.56 | 2,538.48 | 2,263.98 | 1,407.72 | 1,191.57 | 164.00 |
| Tangible Book Value | 2.75T | 2.22T | 1.98T | 1.23T | 1.04T | 143.55B |
| Tangible Book Value Per Share | 3,145.56 | 2,538.48 | 2,263.98 | 1,407.72 | 1,191.57 | 164.00 |
| Land | 145.72B | 113.42B | 107.07B | 79.85B | 75.30B | 11.06B |
| Machinery | 3.14T | 2.59T | 2.46T | 1.78T | 1.67T | 229.99B |
| Construction In Progress | 1.39T | 1.20T | 1.19T | 708.55B | 609.15B | 84.97B |
Cash flow statement
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 221.41B | 239.24B | 357.98B | 191.39B | -44.01B | -41.58B |
| Depreciation & Amortization | 217.65B | 210.72B | 217.29B | 186.37B | 130.38B | 18.62B |
| Loss (Gain) on Sale of Assets | -1.29B | 1.94B | 2.36B | |||
| Loss (Gain) on Sale of Investments | -105.26B | -81.51B | 71.95B | -73.56B | -19.16B | -7.73B |
| Loss (Gain) on Equity Investments | -138.00M | -43.00M | 17.00M | 21.00M | 37.00M | -4.00M |
| Asset Writedown | 7.59B | 7.59B | 5.46B | 485.00M | ||
| Change in Accounts Receivable | -64.63B | -123.31B | -371.25B | -64.89B | -46.99B | -5.24B |
| Change in Inventory | -1.89B | -31.56B | -61.06B | -24.03B | -15.73B | -1.65B |
| Change in Accounts Payable | -172.24B | -551.02B | 414.34B | 240.35B | 419.38B | 35.52B |
| Change in Income Taxes | -74.75B | 47.31B | 33.76B | 7.15B | -3.82B | -3.83B |
| Change in Unearned Revenue | 16.99B | 27.52B | 101.28B | 2.05B | 13.91B | 526.00M |
| Change in Other Net Operating Assets | 9.82B | 467.22B | -63.14B | 58.63B | -60.40B | -226.00M |
| Other Operating Activities | 130.29B | -43.31B | -395.59B | -387.36B | -134.96B | 42.86B |
| Operating Cash Flow | 204.87B | 192.04B | 323.50B | 155.64B | 240.24B | 41.59B |
| Capital Expenditures | -320.17B | -368.47B | -473.53B | -260.84B | -215.14B | -28.69B |
| Cash Acquisitions | -33.15B | -33.15B | -154.00M | |||
| Investment in Securities | -269.19B | -59.94B | -272.52B | 88.67B | -37.15B | -21.08B |
| Other Investing Activities | -1.06B | |||||
| Investing Cash Flow | -622.50B | -461.55B | -746.20B | -172.17B | -253.35B | -49.76B |
| Long-Term Debt Issued | 694.34B | 459.52B | 37.94B | 29.97B | ||
| Long-Term Debt Repaid | -152.54B | -45.51B | -16.32B | -49.16B | -1.06B | |
| Lease Payments | 3.62B | -7.94B | ||||
| Net Debt Issued (Repaid) | 1.01T | 541.81B | 414.01B | 21.63B | -19.19B | -1.06B |
| Other Financing Activities | -183.98B | -106.73B | -65.17B | -5.65B | -13.11B | -1.74B |
| Financing Cash Flow | 830.31B | 435.08B | 348.84B | 15.98B | -32.29B | -2.80B |
| Foreign Exchange Rate Adjustments | 33.58B | 17.91B | 6.77B | 9.82B | 14.74B | |
| Miscellaneous Cash Flow Adjustments | -6.53B | -854.00M | -560.00M | -451.00M | -176.00M | 4.33B |
| Net Cash Flow | 439.73B | 182.62B | -67.65B | 8.82B | -30.85B | -6.64B |
| Free Cash Flow | -115.30B | -176.43B | -150.03B | -105.20B | 25.10B | 12.90B |
| Free Cash Flow Margin | -3.75% | -5.90% | -5.58% | -6.89% | 1.80% | 5.83% |
| Free Cash Flow Per Share | -131.77 | -201.63 | -171.46 | -120.22 | 28.68 | 14.74 |
| Levered Free Cash Flow | -114.02B | -571.70B | -347.87B | -1.26T | 274.78B | 38.41B |
| Unlevered Free Cash Flow | 62.11B | -380.73B | -73.27B | -824.94B | 646.18B | 71.18B |
| Free Cash Flow After Leases | -111.69B | -176.43B | -150.03B | -105.20B | 17.16B | 12.90B |
| Cash Interest Paid | 137.68B | 92.09B | 40.39B | 4.04B | 6.08B | 1.74B |
| Cash Income Tax Paid | 19.53B | |||||
| Change in Working Capital | -286.69B | -163.84B | 53.92B | 219.27B | 306.36B | 25.11B |
Ratios
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 741.31M | 1.41B | 2.16B | 1.02B | 674.42M | 486.28M |
| Enterprise Value | 1.01B | 1.63B | 2.21B | 978.52M | 584.03M | 413.37M |
| PE Ratio | 4.74 | 8.55 | 6.21 | 4.31 | ||
| PS Ratio | 0.36 | 0.68 | 0.83 | 0.54 | 0.09 | 0.23 |
| PB Ratio | 0.40 | 0.92 | 1.12 | 0.67 | 0.12 | 0.35 |
| P/FCF Ratio | 4.76 | 3.87 | ||||
| P/OCF Ratio | 5.55 | 10.65 | 6.88 | 5.30 | 0.50 | 1.20 |
| EV/Sales Ratio | 0.49 | 0.79 | 0.85 | 0.52 | 0.07 | 0.19 |
| EV/EBITDA Ratio | 2.99 | 6.70 | 8.67 | 4.40 | ||
| EV/EBIT Ratio | 5.16 | 15.82 | 38.30 | |||
| EV/FCF Ratio | 4.12 | 3.29 | ||||
| Debt / Equity Ratio | 0.62 | 0.54 | 0.32 | 0.17 | 0.10 | 0.14 |
| Debt / EBITDA Ratio | 3.36 | 3.31 | 2.26 | 1.96 | ||
| Debt / FCF Ratio | 3.98 | 1.60 | ||||
| Net Debt / Equity Ratio | 0.15 | 0.17 | 0.05 | -0.03 | -0.10 | -0.11 |
| Net Debt / EBITDA Ratio | 0.83 | 1.07 | 0.35 | 0.39 | 1.23 | -1.67 |
| Net Debt / FCF Ratio | -3.62 | -2.15 | -0.61 | 0.29 | -4.22 | -1.25 |
| Quick Ratio | 1.26 | 0.90 | 0.74 | 0.53 | 0.39 | 0.39 |
| Current Ratio | 1.46 | 1.07 | 0.89 | 0.65 | 0.42 | 0.43 |
| Asset Turnover | 0.52 | 0.54 | 0.63 | 0.47 | 0.75 | 0.64 |
| Return on Equity (ROE) | 9.59% | 11.38% | 22.27% | 16.82% | -7.42% | -34.87% |
| Return on Assets (ROA) | 3.09% | 1.70% | 0.87% | -4.96% | -7.04% | -1.47% |
| Return on Capital Employed (ROCE) | 5.20% | 3.50% | 1.60% | -10.30% | -11.00% | -3.00% |
| Earnings Yield | 21.11% | 11.70% | 16.10% | 23.20% | -36.84% | -83.26% |
| FCF Yield | -10.14% | -8.62% | -6.74% | -12.75% | 21.01% | 25.83% |