← Screener

NRGNRG Energy

Utilities · Electric Utilities · NYSE

Compare with peers → Embed

FY2025 at a glance

Sales up 9.2%, free cash flow down to $766.0M

XBRL, from each 10-K

RevenueStatements ↓

$30.7B

from $28.1B in FY2024

FY2016FY2025

Net incomeStatements ↓

$864.0M

from $1.1B in FY2024

FY2016FY2025

Free cash flowStatements ↓

$766.0M

from $1.8B in FY2024

FY2016FY2025

EPS (diluted)Statements ↓

$4.01

from $4.99 in FY2024

FY2016FY2025

Operating marginStatements ↓

6.0%

from 8.6% in FY2024

FY2016FY2025

Total debtStatements ↓

$16.6B

from $10.9B in FY2024

FY2016FY2025

Price and key numbers

The latest figures

All key numbers (39, from the latest 10-K and 10-Q) From EDGAR

EPS (ttm)	5.72	Sales (ttm)	35.0B	Net income (ttm)	1.3B	Sales growth	+9.2%	EPS growth	-19.6%	Sales Q/Q	+24.0%
Free cash flow	689.0M	Gross margin	-	Oper. margin	7.7%	Net margin	3.6%	FCF margin	2.0%	ROE	23.9%
ROA	3.1%	R&D / sales	-	Dividend	1.76	Debt/Eq	4.37	Curr. ratio	0.99	Cash	148.0M
Op. cash flow (ttm)	2.2B	EBITDA	3.3B	EBITDA margin	10.6%	Net debt	22.9B	Quick ratio	0.95	Interest cover	2.49
ROIC	5.0%	Payout ratio	43.9%	Tax rate	23.8%	Stock pay / sales	0.4%	Shares out.	210.0M	Shares Y/Y	-6.1%
Book / share	25.10	Cash / share	0.70	Sales / share	166.44	Asset turnover	0.87	Days sales out.	48	Sales 3Y CAGR	-0.9%
Sales 5Y CAGR	+27.6%	EPS 3Y CAGR	-8.1%	EPS 5Y CAGR	+14.1%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024

Debt rose 52%$10.9B → $16.6B · Short-term + long-term debt at year end
Free cash flow fell 58%$1.8B → $766.0M · Cash from operations − capital expenditure · 10-K ↗
Revenue growth sped up to +9.2%-2.4% → +9.2% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
Operating margin narrowed to 6.0%8.6% → 6.0% · Operating income / revenue · 10-K ↗

What management wrote about it → · Every company →

NRG against Utilities peers

Ten years, side by side → · All 31 →

NRGPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 31 companies, the better end on the right. Hover a dot for the company.

Sales growth

+9.2%18th of 31 · median +9.7%

Net margin

3.6%31st of 31 · median 13.8%

Return on equity

23.9%3rd of 31 · median 10.3%

Free cash flow margin

2.0%5th of 24 · median -13.7%

Debt / equity (less is better)

4.3730th of 30 · median 1.70

NRG and the 5 peers closest in revenue
Company	Revenue (ttm)	Sales growth	Gross margin	Net margin	ROE	FCF margin	Debt / equity
NRG NRG Energy	$35.0B	+9.2%	-	3.6%	23.9%	2.0%	4.37
DUK Duke Energy	$33.2B	+6.2%	-	15.5%	9.4%	-9.9%	1.66
CEG Constellation Energy	$31.3B	+8.3%	-	11.1%	10.8%	1.0%	0.77
SO Southern Company	$30.2B	+10.6%	-	14.5%	10.9%	-11.5%	1.87
NEE NextEra Energy	$27.9B	+10.7%	-	29.4%	14.8%	-	1.87
PCG PG&E Corporation	$25.8B	+2.1%	-	11.8%	9.0%	-16.5%	1.89

Profitability

1 of 3

!
Net margin below the peer median3.6% vs 13.8%
✓
Return on equity above 15%23.9%
!
A profit in 7 of 10 years

Net margin, FY2016 to FY2025: -8.7% → 2.8%

Balance sheet

0 of 4

!
Interest covered less than 5 timesOperating income is 2.5× interest expense
!
Debt larger than equityDebt / equity 4.37 on the latest balance sheet (peer median 1.70)
!
Current ratio below 1Current ratio 0.99
!
Net debt over 3 years of free cash flow$22.9B net debt, 33.2 years

Debt / equity at each year end, FY2016 to FY2025: 3.76 → 9.86

What the debt is made of ↓

Cash and shareholders

3 of 4

!
Free cash flow positive in 8 of 10 years$766.0M last year
✓
Share count down over 5 years−19.1%
✓
Dividend per share up over 5 years$1.20 → $1.76
✓
Cash from operations above net income$1.9B vs $864.0M

Free cash flow, FY2016 to FY2025: 1.4B → 766.0M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$16.6B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 30.7B Net income 864.0M

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

NRG's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly

Revenue30.7B

Net income864.0M

Free cash flow766.0M

EPS (diluted)4.01

Dividend per share1.76

Diluted shares199.0M

Revenue by business segment

year to Dec 31, 2025

	Revenue	Share	vs year before
East	14.1B	45.8%	+22.4%
Texas	11.1B	36.2%	+4.6%
West And Other	3.2B	10.4%	-16.2%
West Services And Other	3.2B	10.4%	-14.8%
Vivint Smart Home Inc	2.0B	6.6%	+4.5%

10-K 0001013871-26-000004, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025

	Revenue	Share	vs year before
Total operating revenue	30.7B	100.0%	+9.2%
Energy Revenue	590.0M	1.9%	+18.0%
Other revenue	294.0M	1.0%	-12.5%
Capacity Revenue	280.0M	0.9%	+58.2%

10-K 0001013871-26-000004, segment and revenue notes (XBRL).

Income statement

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	8.9B	9.1B	9.5B	9.8B	9.1B	27.0B	31.5B	28.8B	28.1B	30.7B
Cost of revenue	6.7B	6.9B	7.1B	7.3B	6.5B	-	-	-	-	-
R&D	48.0M	22.0M	11.0M	7.0M	8.0M	-	-	-	-	-
SG&A	1.0B	836.0M	799.0M	760.0M	810.0M	1.3B	1.1B	2.1B	2.3B	2.6B
Operating income	33.0M	-741.0M	982.0M	1.3B	1.1B	3.3B	2.0B	384.0M	2.4B	1.8B
Interest expense	583.0M	557.0M	483.0M	413.0M	401.0M	485.0M	417.0M	667.0M	651.0M	741.0M
Pretax income	-931.0M	-1.4B	467.0M	786.0M	761.0M	2.9B	1.7B	-213.0M	1.4B	1.1B
Income tax	25.0M	-44.0M	7.0M	-3.3B	251.0M	672.0M	442.0M	-11.0M	323.0M	270.0M
Net income	-774.0M	-2.2B	268.0M	4.4B	510.0M	2.2B	1.2B	-202.0M	1.1B	864.0M
EPS (diluted)	-2.22	-6.79	0.87	16.81	2.07	8.93	5.17	-1.12	4.99	4.01
Diluted shares	316.0M	317.0M	308.0M	264.0M	246.0M	245.0M	236.0M	228.0M	212.0M	199.0M
Depreciation & amortization	756.0M	596.0M	421.0M	373.0M	435.0M	785.0M	720.0M	1.3B	1.4B	1.4B
EBITDA	789.0M	-145.0M	1.4B	1.7B	1.5B	4.1B	2.7B	1.7B	3.8B	3.3B
Operating margin	0.4%	-8.2%	10.4%	13.1%	12.2%	12.4%	6.4%	1.3%	8.6%	6.0%
Net margin	-8.7%	-23.7%	2.8%	45.2%	5.6%	8.1%	3.9%	-0.7%	4.0%	2.8%
Revenue growth	-	+1.8%	+4.5%	+3.6%	-7.4%	+197%	+16.9%	-8.6%	-2.4%	+9.2%
EPS growth	-	-	-	+1832%	-87.7%	+331%	-42.1%	-122%	-	-19.6%

Balance sheet

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash	591.0M	770.0M	563.0M	345.0M	3.9B	250.0M	430.0M	541.0M	966.0M	4.7B
Receivables	1.1B	900.0M	1.0B	1.0B	904.0M	3.2B	4.8B	3.5B	3.5B	4.1B
Inventory	721.0M	453.0M	412.0M	383.0M	327.0M	498.0M	751.0M	607.0M	478.0M	461.0M
Current assets	6.7B	4.4B	3.6B	3.1B	6.0B	10.8B	16.2B	9.7B	9.0B	13.1B
Property & equipment	15.4B	6.0B	3.0B	2.6B	-	-	-	-	-	-
Goodwill	662.0M	539.0M	573.0M	579.0M	579.0M	1.8B	1.6B	5.1B	5.0B	5.0B
Total assets	30.7B	23.4B	10.6B	12.5B	14.9B	23.2B	29.1B	26.0B	24.0B	29.1B
Accounts payable	782.0M	684.0M	863.0M	722.0M	649.0M	2.3B	3.6B	2.3B	2.5B	2.8B
Current liabilities	4.7B	3.4B	2.4B	2.4B	1.9B	7.9B	13.0B	9.5B	8.8B	8.0B
Total debt	16.7B	9.5B	6.7B	6.0B	8.9B	8.1B	8.1B	10.9B	10.9B	16.6B
Total liabilities	26.2B	21.3B	11.8B	10.9B	13.2B	19.6B	25.3B	23.1B	21.5B	27.5B
Shareholders' equity	4.4B	2.0B	-1.2B	1.7B	1.7B	3.6B	3.8B	2.9B	2.5B	1.7B
Retained earnings	-3.8B	-6.3B	-6.0B	-1.6B	-1.4B	464.0M	1.4B	820.0M	1.5B	2.0B

Cash flow

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	1.9B	1.6B	1.4B	1.4B	1.8B	493.0M	360.0M	-221.0M	2.3B	1.9B
Capital spending	544.0M	254.0M	388.0M	228.0M	230.0M	269.0M	367.0M	598.0M	472.0M	1.1B
Free cash flow	1.4B	1.4B	989.0M	1.2B	1.6B	224.0M	-7.0M	-819.0M	1.8B	766.0M
Stock-based pay (added back)	10.0M	35.0M	25.0M	20.0M	22.0M	21.0M	28.0M	101.0M	102.0M	134.0M
Dividends paid	76.0M	38.0M	37.0M	32.0M	295.0M	319.0M	332.0M	381.0M	405.0M	411.0M
Buybacks	0	0	1.2B	1.4B	229.0M	48.0M	600.0M	1.1B	935.0M	1.3B
Acquisitions	0	14.0M	243.0M	355.0M	-	-	-	-	-	-
Debt raised	4.4B	1.2B	1.1B	1.9B	3.2B	1.1B	0	731.0M	3.2B	6.7B
Debt repaid	-	-	-	-	-	1.9B	1.9B	-	-	-
Investing cash flow	-757.0M	-639.0M	-205.0M	556.0M	-494.0M	-3.0B	-332.0M	-910.0M	-24.0M	-1.6B
Financing cash flow	-768.0M	-1.1B	-1.5B	-2.1B	2.2B	-272.0M	1.0B	-400.0M	-1.8B	3.5B
Dividend per share	0.24	0.12	0.12	0.12	1.20	1.30	1.40	1.51	1.63	1.76

Stock-based pay and leases

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Stock-based pay (expense)	10.0M	35.0M	25.0M	20.0M	22.0M	21.0M	28.0M	101.0M	102.0M	134.0M
Stock-based pay / revenue	0.1%	0.4%	0.3%	0.2%	0.2%	0.1%	0.1%	0.4%	0.4%	0.4%
Operating lease cost	-	-	-	109.0M	100.0M	91.0M	85.0M	93.0M	89.0M	63.0M
Operating lease cash paid	-	-	-	104.0M	101.0M	102.0M	183.0M	195.0M	190.0M	187.0M
Finance lease principal paid	-	-	-	0	1.0M	6.0M	5.0M	7.0M	8.0M	8.0M
Right-of-use assets	-	-	0	464.0M	301.0M	271.0M	225.0M	179.0M	151.0M	130.0M
Operating lease liabilities	-	-	321.0M	556.0M	347.0M	317.0M	263.0M	218.0M	183.0M	179.0M
Finance lease liabilities	-	-	1.0M	0	4.0M	13.0M	11.0M	19.0M	14.0M	24.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Next Peers in numbers →