Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
FirstEnergy (FE) delivered FY2025 revenue growth of 12.0% to $15.09B, but operating income declined 7.1% to $2.21B as rising costs compressed operating margins, while net income rose modestly 4.3% to $1.02B and operating cash flow surged 28.0% to $3.70B.
Revenue
$15.09B
+12.01% YoY
EPS (Diluted)
$1.76
+3.53% YoY
Operating Income
$2.21B
-7.12% YoY
Source: SEC XBRL
Firstenergy (FE) reported FY2025 revenue of $15.09B, up 12.0% year over year. Operating margin was 14.6%, down 3.0 points from 17.6% a year earlier. Operating cash flow was $3.7B, up 28.0% year over year.
Last 4 quarters: 1 beat
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.50 | 0.52 | Miss -3.9% |
| Mar 2026 | 0.72 | 0.74 | Miss -2.1% |
| Dec 2025This filing | 0.53 | 0.57 | Miss -6.6% |
| Sep 2025 | 0.83 | 0.80 | Beat +4.3% |
Reported EPS of $0.53 versus the $0.57 analyst consensus — a -6.6% miss for Dec 2025.
Compiled by AI from this SEC filing
Revenue grew 12.0% year-over-year from $13.47B to $15.09B in FY2025, reflecting the impact of regulatory rate adjustments and increased electricity demand across FirstEnergy's regulated utility service territories.
Source: 10-K Income Statement (XBRL Financial Data)
Operating income declined 7.1% to $2.21B despite higher revenues, causing the operating margin to contract from 17.6% to 14.6%, indicating that operating costs grew faster than revenues — likely driven by higher depreciation, maintenance, and infrastructure investment costs.
Source: 10-K Income Statement & Key Ratios (XBRL Financial Data)
Operating cash flow surged 28.0% to $3.70B in FY2025 from $2.89B in the prior year, providing a stronger internal funding base for the company's significant capital expenditure program, though investing outflows of $5.07B still required external financing.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Investing cash outflows increased 16.4% to -$5.07B, reflecting continued investment in grid modernization, transmission infrastructure, and regulated utility assets — consistent with FirstEnergy's long-term regulated growth strategy.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Total liabilities grew 9.5% to $41.98B against stockholders' equity of $12.51B, resulting in a debt-to-equity ratio of 3.36x, which is characteristic of capital-intensive regulated utilities but warrants monitoring given rising interest rate environments.
Source: 10-K Balance Sheet (XBRL Financial Data)
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
FirstEnergy carries a debt-to-equity ratio of 3.36x with total liabilities of $41.98B, significantly exceeding equity of $12.51B. In a rising or sustained high interest rate environment, refinancing existing debt at higher rates could materially increase interest expense and further compress net margins.
Source: 10-K Balance Sheet (XBRL Financial Data)
The current ratio stands at only 0.57x, with current assets of $2.98B against current liabilities of $5.27B, indicating that short-term obligations significantly exceed liquid assets. Cash and equivalents fell 48.6% to just $57M, leaving minimal cash buffer for unexpected operational needs.
Source: 10-K Balance Sheet & Key Ratios (XBRL Financial Data)
Operating margin contracted approximately 300 basis points from 17.6% to 14.6% in FY2025, even as revenues grew 12.0%. This suggests cost inflation — potentially in labor, fuel, depreciation, or regulatory compliance — is outpacing revenue growth and could persist if not controlled.
Source: 10-K Income Statement & Key Ratios (XBRL Financial Data)
With investing outflows of $5.07B far exceeding operating cash flow of $3.70B, FirstEnergy relies on external debt and equity financing (net financing inflows of $1.31B) to fund its capital program. Any disruption to capital markets access could delay critical infrastructure investments.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
As a regulated utility, FirstEnergy's revenue growth depends heavily on timely and favorable outcomes from state utility commission rate cases. Adverse regulatory decisions could limit the company's ability to recover infrastructure investment costs through customer rates, pressuring future earnings.
Source: 10-K Financial Data (XBRL); regulatory risk inferred from utility business model
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 15.09 $B | 13.47 $B | +12.01% |
Operating Income $B | 2.21 $B | 2.38 $B | -7.12% |
Net Income $B | 1.02 $B | 0.98 $B | +4.29% |
EPS (Basic) $ | 1.77 $ | 1.70 $ | +4.12% |
EPS (Diluted) $ | 1.76 $ | 1.70 $ | +3.53% |
Answers draw on this SEC filing and the data on this page
FirstEnergy reported Q2 2026 earnings attributable to FE of $288 million ($0.50/share), up 7% year-over-year, driven by higher transmission revenues and true-up adjustments, while the company advanced its $36 billion Energize365 (2026-2030) capital investment plan and pursued multiple state rate cases.
FirstEnergy (FE) delivered solid Q1 FY2026 results with revenue up 11.6% YoY to $4.20B and net income rising 12.5% to $405M, though operating cash flow dropped sharply by 76.8% to $148M amid heavy capital investment and increased leverage.
Other companies in Electric Utilities