NYSE : FE
FirstEnergy Corp. — Financial statements
Utilities · Utilities - Regulated Electric · United States
Last price 46.83 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 27.11B
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Financial statements
FirstEnergy Corp. (FE) reported revenue of 16.05B 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 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 15.05B | 14.31B | 12.94B | 12.27B | 11.59B | 10.43B |
| Other Revenue | 992.00M | 590.00M | 348.00M | 416.00M | 680.00M | 515.00M |
| Revenue | 16.05B | 14.90B | 13.29B | 12.69B | 12.27B | 10.94B |
| Fuel & Purchased Power | 5.94B | 5.24B | 4.38B | 4.65B | 4.59B | 3.44B |
| Selling, General & Admin | 113.00M | 113.00M | 91.00M | 79.00M | 73.00M | 71.00M |
| Depreciation & Amortization | 1.69B | 1.66B | 1.58B | 1.46B | 1.38B | 1.30B |
| Other Operating Expenses | 4.92B | 4.67B | 4.62B | 4.17B | 3.94B | 3.25B |
| Total Operating Expenses | 12.66B | 11.68B | 10.67B | 10.35B | 9.98B | 8.07B |
| Operating Income | 3.39B | 3.22B | 2.61B | 2.33B | 2.29B | 2.88B |
| Interest Expense | -1.24B | -1.14B | -1.07B | -1.07B | -1.01B | -1.11B |
| Net Interest Expense | -1.24B | -1.14B | -1.07B | -1.07B | -1.01B | -1.11B |
| Income (Loss) on Equity Investments | 58.00M | 175.00M | 168.00M | 31.00M | ||
| Allowance for Equity Funds for Construction | 130.00M | 108.00M | 60.00M | 44.00M | 56.00M | 48.00M |
| Other Non-Operating Income (Expenses) | -203.00M | -224.00M | 43.00M | 35.00M | 109.00M | -162.00M |
| EBT Excluding Unusual Items | 2.07B | 1.96B | 1.70B | 1.51B | 1.61B | 1.68B |
| Restructuring Charges | 13.00M | -26.00M | ||||
| Gain (Loss) on Sale of Assets | 109.00M | |||||
| Asset Writedown | -352.00M | -352.00M | -115.00M | -15.00M | ||
| Other Unusual Items | -24.00M | -85.00M | -36.00M | -171.00M | -232.00M | |
| Pretax Income | 1.74B | 1.56B | 1.50B | 1.46B | 1.44B | 1.56B |
| Income Tax Expense | 295.00M | 288.00M | 377.00M | 267.00M | 1.00B | 320.00M |
| Earnings From Continuing Ops. | 1.44B | 1.27B | 1.13B | 1.20B | 439.00M | 1.24B |
| Earnings From Discontinued Ops. | -21.00M | 44.00M | ||||
| Net Income to Company | 1.44B | 1.27B | 1.13B | 1.18B | 439.00M | 1.28B |
| Minority Interest in Earnings | -239.00M | -251.00M | -149.00M | -74.00M | -33.00M | |
| Net Income | 1.20B | 1.02B | 978.00M | 1.10B | 406.00M | 1.28B |
| Net Income to Common | 1.20B | 1.02B | 978.00M | 1.10B | 406.00M | 1.28B |
| Shares Outstanding (Basic) | 577.75M | 577.00M | 575.00M | 573.00M | 571.00M | 545.00M |
| Shares Outstanding (Diluted) | 579.50M | 578.00M | 577.00M | 574.00M | 572.00M | 546.00M |
| EPS (Basic) | 2.08 | 1.77 | 1.70 | 1.92 | 0.71 | 2.35 |
| EPS (Diluted) | 2.07 | 1.76 | 1.70 | 1.92 | 0.71 | 2.35 |
| Free Cash Flow | -2.16B | -1.00B | -1.14B | -1.97B | -165.00M | 324.00M |
| Free Cash Flow Per Share | -3.73 | -1.74 | -1.97 | -3.43 | -0.29 | 0.59 |
| Dividend Per Share | 1.82 | 1.76 | 1.69 | 1.58 | 1.56 | 1.56 |
| Profit Margin | 7.49% | 6.84% | 7.36% | 8.69% | 3.31% | 11.72% |
| Free Cash Flow Margin | -13.46% | -6.74% | -8.57% | -15.52% | -1.34% | 2.96% |
| EBITDA | 5.13B | 4.93B | 4.29B | 3.85B | 3.97B | 4.27B |
| EBITDA Margin | 31.99% | 33.11% | 32.30% | 30.34% | 32.36% | 39.04% |
| D&A For EBITDA | 1.75B | 1.72B | 1.68B | 1.52B | 1.68B | 1.40B |
| EBIT | 3.39B | 3.22B | 2.61B | 2.33B | 2.29B | 2.88B |
| EBIT Margin | 21.12% | 21.59% | 19.68% | 18.38% | 18.65% | 26.29% |
| Effective Tax Rate | 17.00% | 18.47% | 25.07% | 18.24% | 69.49% | 20.53% |
| Revenue as Reported | 16.23B | 15.09B | 13.47B | 12.87B | 12.46B | 11.13B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 48.00M | 57.00M | 111.00M | 137.00M | 160.00M | 1.46B |
| Accounts Receivable | 1.80B | 1.73B | 1.53B | 1.32B | 1.32B | 1.03B |
| Other Receivables | 338.00M | 295.00M | 303.00M | 266.00M | 253.00M | 246.00M |
| Inventory | 605.00M | 577.00M | 549.00M | 512.00M | 421.00M | 260.00M |
| Prepaid Expenses | 397.00M | 282.00M | 240.00M | 293.00M | 217.00M | 187.00M |
| Restricted Cash | 84.00M | 42.00M | 43.00M | 42.00M | 46.00M | 49.00M |
| Total Current Assets | 3.28B | 2.98B | 2.78B | 2.57B | 2.42B | 3.24B |
| Property, Plant & Equipment | 47.72B | 44.69B | 41.33B | 38.62B | 36.55B | 35.02B |
| Regulatory Assets | 1.59B | 829.00M | 617.00M | 369.00M | 33.00M | 71.00M |
| Goodwill | 5.62B | 5.62B | 5.62B | 5.62B | 5.62B | 5.62B |
| Long-Term Investments | 343.00M | 361.00M | 376.00M | 388.00M | 356.00M | 382.00M |
| Other Long-Term Assets | 1.27B | 1.43B | 1.33B | 1.21B | 1.14B | 1.10B |
| Total Assets | 59.83B | 55.90B | 52.04B | 48.77B | 46.11B | 45.43B |
| Accounts Payable | 2.47B | 2.00B | 1.57B | 1.36B | 1.50B | 943.00M |
| Accrued Expenses | 555.00M | 659.00M | 474.00M | 596.00M | 526.00M | 596.00M |
| Short-Term Debt | 1.97B | 325.00M | 550.00M | 775.00M | 100.00M | |
| Current Portion of Long-Term Debt | 2.16B | 720.00M | 974.00M | 1.25B | 345.00M | 1.59B |
| Current Portion of Leases | 63.00M | 54.00M | 50.00M | 54.00M | 52.00M | |
| Current Income Taxes Payable | 751.00M | 768.00M | 727.00M | 700.00M | 668.00M | 647.00M |
| Other Current Liabilities | 825.00M | 734.00M | 643.00M | 656.00M | 762.00M | 585.00M |
| Total Current Liabilities | 8.73B | 5.27B | 5.00B | 5.39B | 3.96B | 4.42B |
| Long-Term Debt | 25.93B | 25.50B | 22.49B | 22.87B | 21.19B | 22.23B |
| Long-Term Leases | 234.00M | 201.00M | 190.00M | 264.00M | 294.00M | |
| Pension & Post-Retirement Benefits | 1.46B | 1.47B | 1.70B | 1.66B | 2.33B | 2.67B |
| Long-Term Deferred Tax Liabilities | 6.44B | 6.03B | 5.61B | 4.53B | 4.20B | 3.44B |
| Other Long-Term Liabilities | 2.77B | 3.47B | 3.33B | 3.21B | 3.52B | 3.72B |
| Total Liabilities | 45.33B | 41.98B | 38.32B | 37.85B | 35.47B | 36.76B |
| Common Stock | 58.00M | 58.00M | 58.00M | 57.00M | 57.00M | 57.00M |
| Additional Paid-In Capital | 12.45B | 12.43B | 12.37B | 10.49B | 11.32B | 10.24B |
| Retained Earnings | 477.00M | 35.00M | 43.00M | -97.00M | -1.20B | -1.60B |
| Comprehensive Income & Other | -14.00M | -14.00M | -14.00M | -17.00M | -14.00M | -15.00M |
| Total Common Equity | 12.97B | 12.51B | 12.46B | 10.44B | 10.17B | 8.68B |
| Minority Interest | 1.52B | 1.42B | 1.26B | 479.00M | 477.00M | |
| Shareholders' Equity | 14.50B | 13.93B | 13.72B | 10.92B | 10.64B | 8.68B |
| Total Liabilities & Equity | 59.83B | 55.90B | 52.04B | 48.77B | 46.11B | 45.43B |
| Total Debt | 30.05B | 26.84B | 24.27B | 25.14B | 21.95B | 24.16B |
| Net Cash (Debt) | -30.00B | -26.79B | -24.16B | -25.00B | -21.79B | -22.70B |
| Net Cash Per Share | -51.78 | -46.34 | -41.86 | -43.55 | -38.09 | -41.58 |
| Filing Date Shares Outstanding | 578.89M | 577.93M | 576.70M | 574.44M | 572.25M | 570.34M |
| Total Common Shares Outstanding | 578.89M | 577.85M | 576.61M | 574.34M | 572.13M | 570.26M |
| Working Capital | -5.45B | -2.29B | -2.22B | -2.82B | -1.54B | -1.18B |
| Book Value Per Share | 22.41 | 21.65 | 21.60 | 18.17 | 17.77 | 15.21 |
| Tangible Book Value | 7.36B | 6.89B | 6.84B | 4.82B | 4.55B | 3.06B |
| Tangible Book Value Per Share | 12.71 | 11.93 | 11.86 | 8.39 | 7.95 | 5.36 |
| Machinery | 56.16B | 52.85B | 50.04B | 47.74B | 45.86B | |
| Construction In Progress | 4.31B | 3.39B | 2.75B | 2.12B | 1.69B | 1.41B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.20B | 1.02B | 978.00M | 1.10B | 406.00M | 1.28B |
| Depreciation & Amortization | 1.75B | 1.72B | 1.68B | 1.52B | 1.68B | 1.40B |
| Other Amortization | -874.00M | -109.00M | -231.00M | -261.00M | -365.00M | 269.00M |
| Loss (Gain) on Sale of Assets | -109.00M | |||||
| Asset Writedown | 1.23B | 352.00M | 142.00M | 15.00M | ||
| Change in Accounts Receivable | -276.00M | -186.00M | -249.00M | -13.00M | -292.00M | 160.00M |
| Change in Inventory | -27.00M | -28.00M | -37.00M | -91.00M | -161.00M | 57.00M |
| Change in Accounts Payable | 411.00M | 210.00M | 124.00M | -141.00M | 560.00M | 117.00M |
| Change in Income Taxes | 49.00M | 81.00M | -159.00M | -11.00M | -6.00M | 25.00M |
| Change in Other Net Operating Assets | -33.00M | 387.00M | -74.00M | -139.00M | 103.00M | -21.00M |
| Other Operating Activities | -227.00M | 257.00M | 720.00M | -611.00M | 756.00M | -318.00M |
| Net Cash from Discontinued Operations | 21.00M | -47.00M | ||||
| Operating Cash Flow | 3.19B | 3.70B | 2.89B | 1.39B | 2.68B | 2.81B |
| Capital Expenditures | -5.35B | -4.71B | -4.03B | -3.36B | -2.85B | -2.49B |
| Sale of Property, Plant & Equipment | 155.00M | |||||
| Contributions to Nuclear Demissioning Trust | -531.00M | -490.00M | -439.00M | -324.00M | -272.00M | -285.00M |
| Other Investing Activities | 45.00M | 130.00M | 119.00M | 28.00M | 44.00M | 58.00M |
| Investing Cash Flow | -5.84B | -5.07B | -4.35B | -3.65B | -3.08B | -2.56B |
| Short-Term Debt Issued | 675.00M | 100.00M | ||||
| Long-Term Debt Issued | 5.92B | 2.10B | 3.15B | 700.00M | 2.10B | |
| Total Debt Issued | 4.22B | 5.92B | 2.10B | 3.83B | 800.00M | 2.10B |
| Short-Term Debt Repaid | -225.00M | -225.00M | -2.20B | |||
| Long-Term Debt Repaid | -3.13B | -2.76B | -537.00M | -3.00B | -532.00M | |
| Total Debt Repaid | -1.64B | -3.35B | -2.98B | -537.00M | -3.00B | -2.73B |
| Net Debt Issued (Repaid) | 2.58B | 2.57B | -885.00M | 3.29B | -2.21B | -632.00M |
| Issuance of Common Stock | 1.00B | |||||
| Common Dividends Paid | -1.05B | -1.02B | -970.00M | -906.00M | -891.00M | -849.00M |
| Dividends Paid | -1.05B | -1.02B | -970.00M | -906.00M | -891.00M | -849.00M |
| Other Financing Activities | -186.00M | -245.00M | 3.29B | -144.00M | 2.18B | -61.00M |
| Financing Cash Flow | 1.35B | 1.31B | 1.43B | 2.24B | -912.00M | -542.00M |
| Net Cash Flow | -1.30B | -55.00M | -25.00M | -27.00M | -1.30B | -290.00M |
| Free Cash Flow | -2.16B | -1.00B | -1.14B | -1.97B | -165.00M | 324.00M |
| Free Cash Flow Margin | -13.46% | -6.74% | -8.57% | -15.52% | -1.34% | 2.96% |
| Free Cash Flow Per Share | -3.73 | -1.74 | -1.97 | -3.43 | -0.29 | 0.59 |
| Levered Free Cash Flow | -2.55B | -1.23B | -1.66B | -1.55B | -423.88M | 730.12M |
| Unlevered Free Cash Flow | -1.77B | -515.38M | -993.25M | -881.50M | 208.00M | 1.43B |
| Cash Interest Paid | 999.00M | 999.00M | 1.06B | 1.00B | 1.02B | 1.08B |
| Cash Income Tax Paid | 73.00M | 73.00M | 161.00M | 58.00M | 21.00M | -7.00M |
| Change in Working Capital | 124.00M | 464.00M | -395.00M | -395.00M | 204.00M | 338.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 27.49B | 25.86B | 22.93B | 21.04B | 23.98B | 23.71B |
| Enterprise Value | 57.50B | 53.31B | 47.46B | 45.84B | 45.45B | 46.87B |
| PE Ratio | 22.92 | 25.36 | 23.44 | 19.09 | 59.06 | 18.48 |
| PS Ratio | 1.69 | 1.74 | 1.73 | 1.66 | 1.96 | 2.17 |
| PB Ratio | 2.09 | 1.86 | 1.67 | 1.93 | 2.25 | 2.73 |
| P/FCF Ratio | 73.19 | |||||
| P/OCF Ratio | 8.50 | 6.99 | 7.93 | 15.17 | 8.94 | 8.44 |
| EV/Sales Ratio | 3.56 | 3.58 | 3.57 | 3.61 | 3.71 | 4.28 |
| EV/EBITDA Ratio | 11.14 | 10.81 | 11.06 | 11.91 | 11.45 | 10.97 |
| EV/EBIT Ratio | 16.87 | 16.57 | 18.16 | 19.66 | 19.86 | 16.29 |
| EV/FCF Ratio | 144.66 | |||||
| Debt / Equity Ratio | 2.07 | 1.93 | 1.77 | 2.30 | 2.06 | 2.79 |
| Debt / EBITDA Ratio | 5.73 | 5.32 | 5.54 | 6.40 | 5.43 | 5.56 |
| Debt / FCF Ratio | 74.58 | |||||
| Net Debt / Equity Ratio | 2.07 | 1.92 | 1.76 | 2.29 | 2.05 | 2.62 |
| Net Debt / EBITDA Ratio | 5.84 | 5.43 | 5.63 | 6.50 | 5.49 | 5.31 |
| Net Debt / FCF Ratio | -13.90 | -26.65 | -21.21 | -12.70 | -132.06 | 70.07 |
| Quick Ratio | 0.25 | 0.39 | 0.39 | 0.32 | 0.44 | 0.62 |
| Current Ratio | 0.38 | 0.56 | 0.56 | 0.48 | 0.61 | 0.73 |
| Asset Turnover | 0.28 | 0.28 | 0.26 | 0.27 | 0.27 | 0.24 |
| Return on Equity (ROE) | 10.04% | 9.20% | 9.15% | 11.10% | 4.54% | 15.57% |
| Return on Assets (ROA) | 3.66% | 3.72% | 3.24% | 3.07% | 3.12% | 4.00% |
| Return on Capital Employed (ROCE) | 6.60% | 6.40% | 5.60% | 5.40% | 5.40% | 7.00% |
| Earnings Yield | 4.36% | 3.94% | 4.27% | 5.24% | 1.69% | 5.41% |
| FCF Yield | -7.95% | -3.89% | -4.97% | -9.36% | -0.69% | 1.37% |
| Dividend Yield | 3.91% | 3.93% | 4.24% | 4.31% | 3.72% | 3.75% |
| Payout Ratio | 89.76% | 99.61% | 99.18% | 82.21% | 219.46% | 66.17% |
| Buyback Yield / Dilution | -0.17% | -0.17% | -0.52% | -0.35% | -4.76% | -0.55% |
| Total Shareholder Return | 3.79% | 3.76% | 3.72% | 3.96% | -1.04% | 3.20% |