FirstEnergy FE
FE and its subsidiaries are principally involved in the transmission, distribution, and generation of electricity. 10-K, Item 1
- Employees
- 11,186
- Headquarters
- Akron, OH
- CEO
- Brian X. Tierney
- Next results
- around Feb 16, 2027
FE among Utilities peers
Six ratios from the latest 10-K. Each corner is the share of 30 peers the company is above, not a score.
What changed
16 new risk paragraphs. 10-K filed Feb 18, 2026 against Feb 27, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
11 checks on the latest 10-K. Checks, not verdicts.
0facts worth reading about all 11 checks found nothing to note
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Receivables +12.8% vs revenue +12.0% (+0.8 pts)
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Cash from operations $3.7B vs net income $1.0B (FY ending Dec 31, 2025)
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Inventory +5.1% vs revenue +12.0% (-6.9 pts)
8 more checks with nothing to note
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Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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The same matters as last year: Accounting for the Effects of Rate Regulation
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
16 paragraphs in Risk Factors that were not in the 10-K filed Feb 27, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
The retail rates for each of the Electric Companies are set by each of its respective regulatory agency for utilities in the state in which it operates - in Maryland by the MDPSC, in New Jersey by the NJBPU, in Ohio by the PUCO, in Pennsylvania by the
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Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
FERC, at the instruction of the U.S. Secretary of Energy, is also considering whether to develop regulations intended to speed interconnection of AI data centers and “hybrid” data center/electric generation facilities (collectively, “large loads”) to the transmission system. Final regulations, if any, from FERC are expected in the…
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Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
Additionally, the operations of the Electric Companies are affected by the economic conditions in their respective service territories and those conditions could negatively impact the rate of delinquent customer accounts and our collections of accounts receivable, which could adversely impact our financial condition, results of…
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Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
MP owns and maintains coal-fired electric generation facilities located in West Virginia. Historically, coal-fired generation has greater exposure to the costs of complying with federal, state and local environmental statutes, rules and regulations relating to air emissions, including GHGs and CCR disposal, than other types of electric…
New risk paragraphs, against peers
Latest 10-K of each, Utilities companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $12.5B | $12.9B | $13.5B | $15.1B |
| Net income | $406.0M | $1.1B | $978.0M | $1.0B |
| Operating cash flow | $2.7B | $1.4B | $2.9B | $3.7B |
| Free cash flow | −$165.0M | −$2.0B | −$1.1B | −$1.0B |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$15.1B ▲ 12.0% in FY2025$1.0B ▲ 4.3% in FY2025−$1.0B in FY2025
Recent filings
2 filings in the last 30 days · SEC EDGAR
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10-QOct 28, 2026Quarterly report (10-Q) period ended Sep 30, 2026
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8-KOct 27, 2026Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01
About the company
FirstEnergy, Akron, OH · from the 10-K filed Feb 18, 2026
FE and its subsidiaries are principally involved in the transmission, distribution, and generation of electricity. FirstEnergy’s electric operating companies comprise one of the nation’s largest investor-owned electric systems, serving over six million customers in the Midwest and Mid-Atlantic regions. FirstEnergy’s transmission operations include more than 24,000 miles of transmission lines and two regional transmission operation centers, and MP and AGC control 3,610 MWs of total generation capacity.
- Headquarters
- Akron, OH
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Oct 27, 2026
- Incorporated in
- OH
Employees, at the top of the page: "As of December 31, 2025, FirstEnergy had 11,186 employees, all of whom were located in the United States as follows: Total Bargaining Employees Unit Employees FESC 4,618 471 CEI 752 535 FE PA 1,916 1,462 JCP&L 1,165 911 MP 968 393 OE 1,013 647 PE 473 241 TE 281 227 Total 11,186 4,887 As of December " (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed Feb 18, 2026 (open at SEC), compared with the 10-K filed Feb 27, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
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