American Electric Power (AEP) Financials

$112.50 -1.23 (-1.08%)

Closing price 04:00 PM Eastern

Extended Trading

$112.56 +0.06 (+0.05%)

As of 06:57 PM Eastern

Annual Income Statements for American Electric Power

This table shows American Electric Power's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	1,634	2,047	611	1,913	1,924	1,921	2,200	2,488	2,307	2,208	2,967
Consolidated Net Income / (Loss)	1,638	2,052	618	1,929	1,931	1,920	2,197	2,488	2,306	2,213	2,976
Net Income / (Loss) Continuing Operations	1,591	1,769	621	1,929	1,931	1,920	2,197	2,488	2,306	2,213	2,976
Total Pre-Tax Income	2,403	2,623	476	2,816	1,974	1,835	2,146	2,512	2,420	2,209	2,843
Total Operating Income	1,976	3,184	1,164	3,525	2,683	2,592	2,988	3,411	3,483	3,556	4,304
Total Gross Profit	6,214	7,660	10,650	7,588	7,430	7,712	7,976	8,778	12,542	12,404	13,785
Total Revenue	16,820	17,201	16,380	15,425	16,196	15,561	14,919	16,792	19,640	18,982	19,721
Operating Revenue	16,775	17,076	16,380	15,425	16,196	15,561	14,919	16,792	19,640	18,982	19,721
Total Cost of Revenue	10,607	9,541	5,730	7,837	8,766	7,850	6,942	8,014	7,098	6,578	5,936
Operating Cost of Revenue	10,607	9,541	5,730	7,837	8,766	7,850	6,942	8,014	7,098	6,578	5,936
Total Operating Expenses	4,238	4,477	9,486	4,063	4,747	5,119	4,989	5,367	9,059	8,848	9,481
Selling, General & Admin Expense	-	-	2,996	-	-	-	-	-	2,878	2,811	3,128
Depreciation Expense	1,898	2,010	1,962	1,997	2,287	2,515	2,683	2,826	3,203	3,090	3,290
Other Operating Expenses / (Income)	2,229	2,298	2,260	2,205	2,390	2,448	2,306	2,529	2,929	2,861	2,921
Impairment Charge	0.00	0.00	2,268	87	71	156	0.00	12	49	86	143
Total Other Income / (Expense), net	-708	-700	-688	-709	-709	-758	-842	-899	-1,062	-1,348	-1,461
Interest Expense	868	874	877	895	984	1,073	1,166	1,199	1,208	1,807	1,863
Interest & Investment Income	160	174	146	106	133	168	148	140	134	175	211
Other Income / (Expense), net	-	-	43	80	143	147	176	160	12	285	191
Income Tax Expense	903	920	-74	970	115	-13	41	116	5.40	55	-39
Other Gains / (Losses), net	90	65	71	82	73	72	91	92	-109	59	94
Net Income / (Loss) Attributable to Noncontrolling Interest	4.20	5.20	7.10	16	7.50	-1.30	-3.40	0.00	-1.60	4.50	8.70
Basic Earnings per Share	$3.34	$4.17	$1.24	$3.89	$3.90	$3.89	$4.44	$4.97	$4.51	$4.26	$5.60
Weighted Average Basic Shares Outstanding	488.59M	490.34M	491.50M	491.81M	492.77M	493.69M	495.72M	500.52M	511.84M	518.90M	530.09M
Diluted Earnings per Share	$3.34	$4.17	$1.24	$3.88	$3.90	$3.88	$4.42	$4.96	$4.49	$4.24	$5.58
Weighted Average Diluted Shares Outstanding	488.90M	490.57M	491.66M	492.61M	493.76M	495.31M	497.23M	501.78M	513.48M	520.21M	531.34M
Weighted Average Basic & Diluted Shares Outstanding	489.22M	490.90M	492.70M	491.70M	552.65M	59.40T	51.87T	-	565.73M	578.05M	584.78M
Cash Dividends to Common per Share	$2.03	$2.15	$2.27	$2.39	$2.53	$2.71	$2.84	$3.00	$3.17	$3.37	$3.57

This table shows American Electric Power's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-	397	521	954	-	1,003	340	960	664	800	1,226
Consolidated Net Income / (Loss)	-	400	516	958	-	1,006	343	962	666	802	1,288
Net Income / (Loss) Continuing Operations	-	400	505	958	-	1,006	343	962	666	802	1,288
Total Pre-Tax Income	-	391	525	1,001	-	839	324	982	698	890	1,017
Total Operating Income	-	705	875	1,353	-	1,173	684	1,352	1,096	1,284	1,399
Total Gross Profit	-	2,305	2,305	2,865	-	3,450	3,211	2,955	4,987	3,611	3,546
Total Revenue	-	4,691	4,373	5,342	-	5,026	4,579	5,420	4,696	5,463	5,087
Total Cost of Revenue	-	2,386	2,067	2,477	-	1,576	1,369	2,465	-290	1,853	1,541
Operating Cost of Revenue	-	2,386	2,056	2,477	-	1,576	1,369	2,465	-290	1,853	1,541
Total Operating Expenses	-	1,600	1,442	1,512	-	2,277	2,527	1,604	3,891	2,326	2,146
Selling, General & Admin Expense	-	-	-	-	-	762	817	-	-	752	538
Depreciation Expense	-	776	742	792	-	787	822	853	828	833	853
Other Operating Expenses / (Income)	-	712	700	719	-	728	745	751	698	741	756
Impairment Charge	-	112	0.00	-	-	-	143	-	-	-	0.00
Total Other Income / (Expense), net	-	-314	-349	-352	-	-333	-360	-370	-398	-395	-382
Interest Expense	-	416	460	470	-	436	466	499	463	495	490
Interest & Investment Income	-	31	41	51	-	44	55	54	58	57	57
Other Income / (Expense), net	-	70	70	67	-	59	51	75	6.90	43	50
Income Tax Expense	-	10	29	64	-	-142	6.70	38	59	126	-251
Other Gains / (Losses), net	-	20	19	21	-	25	25	17	27	38	21
Net Income / (Loss) Attributable to Noncontrolling Interest	-	3.40	-5.10	4.60	-	2.60	2.20	2.10	1.80	2.00	63
Basic Earnings per Share	-	$0.77	$1.01	$1.83	-	$1.91	$0.64	$1.80	$1.25	$1.50	$2.29
Weighted Average Basic Shares Outstanding	511.84M	514.18M	514.88M	520.46M	518.90M	526.55M	528.90M	532.21M	530.09M	533.39M	534.28M
Diluted Earnings per Share	-	$0.77	$1.01	$1.83	-	$1.90	$0.64	$1.80	$1.24	$1.50	$2.29
Weighted Average Diluted Shares Outstanding	513.48M	515.60M	516.24M	521.44M	520.21M	527.60M	530.14M	533.60M	531.34M	534.66M	536.43M
Weighted Average Basic & Diluted Shares Outstanding	565.73M	566.66M	-	-	578.05M	-	583.99M	584.43M	584.78M	586.06M	586.66M
Cash Dividends to Common per Share	$0.83	$0.83	$0.83	$0.83	$0.88	$0.88	$0.88	$0.88	-	$0.93	$0.93

This table details how cash moves in and out of American Electric Power's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-294	5.30	-23	9.10	-393	556	139	2,532	105	-178	-133
Net Cash From Operating Activities	321	4,819	4,519	4,270	4,799	3,920	4,037	3,840	5,288	5,012	6,804
Net Cash From Continuing Operating Activities	310	4,749	4,522	4,270	4,799	3,920	4,037	3,841	5,288	5,012	6,804
Net Income / (Loss) Continuing Operations	1,591	1,769	621	1,929	1,931	1,920	2,197	2,488	2,306	2,213	2,976
Consolidated Net Income / (Loss)	-	2,052	618	1,929	1,931	1,920	2,197	2,488	2,306	2,213	2,976
Depreciation Expense	-	2,010	1,962	1,997	2,287	2,515	2,683	2,826	3,203	3,090	3,290
Amortization Expense	102	93	110	100	55	15	44	223	83	97	103
Non-Cash Adjustments To Reconcile Net Income	-36	157	2,376	-252	14	-256	-328	-2,163	225	-335	-288
Changes in Operating Assets and Liabilities, net	292	721	-547	497	512	-275	-559	467	-529	-53	724
Net Cash From Investing Activities	-268	-4,024	-5,047	-3,656	-6,354	-6,226	-6,305	-6,434	-7,752	-6,267	-7,597
Net Cash From Continuing Investing Activities	-268	-4,573	-5,047	-3,656	-6,354	-6,226	-6,305	-7,226	-7,752	-6,267	-7,597
Purchase of Investments	-1,088	-2,283	-3,002	-2,315	-2,068	-1,576	-1,679	-1,955	-2,784	-2,864	-2,923
Sale of Property, Plant & Equipment	-	-	-	2,160	-	-	-	119	218	1,341	362
Divestitures	-	-	-	-	-	-	-	-	0.00	0.00	114
Sale and/or Maturity of Investments	1,001	2,218	2,958	2,256	2,010	1,494	1,644	1,901	2,744	2,795	2,878
Other Investing Activities, net	-116	-4,503	-4,894	-5,758	-6,296	-6,144	-6,271	-5,853	-7,929	-7,540	-8,028
Net Cash From Financing Activities	-347	-789	504	-605	1,162	2,863	2,407	2,607	2,569	1,077	659
Net Cash From Continuing Financing Activities	-335	-662	504	-605	1,162	2,863	2,407	5,918	2,569	1,077	659
Repayment of Debt	0.00	-2,575	-1,917	-3,279	-2,808	-389	-3,246	-4,290	-1,787	-4,627	-3,765
Payment of Dividends	-998	-1,059	-1,121	-1,192	-1,256	-1,350	-1,425	975	-1,645	-1,760	-1,904
Issuance of Debt	589	2,891	3,508	3,854	5,151	4,537	7,023	7,880	5,484	6,533	5,841
Issuance of Common Equity	74	82	34	12	74	65	155	601	827	1,000	552
Other Financing Activities, net	-	-	-	-	0.00	0.00	-100	753	-310	-68	-65

This table details how cash moves in and out of American Electric Power's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-1,169	-6.20	-	322	-294	-97	-34	146	-148	46	-13
Net Cash From Operating Activities	398	729	-	1,906	1,225	1,442	1,462	2,382	1,519	1,450	1,221
Net Cash From Continuing Operating Activities	398	729	-	1,906	1,337	1,442	1,694	1,952	1,727	1,450	1,221
Net Income / (Loss) Continuing Operations	383	400	-	958	338	1,006	343	962	666	802	1,288
Consolidated Net Income / (Loss)	383	400	-	958	338	1,006	343	962	666	802	1,288
Depreciation Expense	786	776	-	792	781	787	822	853	828	833	853
Non-Cash Adjustments To Reconcile Net Income	-77	209	-	373	-978	-133	373	130	-791	-146	272
Changes in Operating Assets and Liabilities, net	-318	-554	-	-389	1,473	-218	-145	-80	1,221	-40	-1,192
Net Cash From Investing Activities	-2,921	-2,100	-	-224	-1,777	-1,669	-1,580	-1,634	-2,713	-2,102	-3,245
Net Cash From Continuing Investing Activities	-2,921	-2,100	-	-524	-1,623	-1,669	-1,580	-1,406	-2,827	-2,102	-3,245
Purchase of Investments	-916	-537	-	-964	-664	-590	-600	-1,208	-525	-603	-734
Sale and/or Maturity of Investments	910	518	-	934	655	573	585	1,186	535	587	725
Other Investing Activities, net	-3,133	-2,080	-	-1,675	-1,774	-1,766	-1,565	-1,863	-2,834	-2,086	-1,877
Net Cash From Financing Activities	1,354	1,364	-	-1,360	259	130	85	-602	1,046	698	2,011
Net Cash From Continuing Financing Activities	1,354	1,364	-	-1,360	259	130	85	-602	1,046	698	2,011
Repayment of Debt	312	-1,190	-	-1,060	-2,015	-663	-965	-472	-823	255	-2,918
Payment of Dividends	-433	-432	-	-430	-467	-467	-469	-471	-497	-501	-500
Issuance of Debt	1,784	2,945	-	-791	2,768	1,237	1,103	269	2,392	882	2,602
Issuance of Common Equity	-0.70	41	-	882	40	41	435	37	39	75	2,839
Other Financing Activities, net	-310	-	-	-	-	-17	-19	-	-	-13	-13
Cash Interest Paid	-	312	-	375	-	368	513	366	-	350	596
Cash Income Taxes Paid	-	16	-	17	-	16	45	27	-	7.10	52

This table presents American Electric Power's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	59,545	61,683	63,468	44,184	68,803	75,892	80,757	87,669	93,403	96,684	103,078
Total Current Assets	4,478	4,072	6,034	2,291	4,114	4,078	4,352	7,809	6,776	6,082	5,789
Cash & Equivalents	163	176	211	-	234	247	393	403	509	330	203
Restricted Cash	0.00	0.00	193	198	210	186	46	48	47	49	43
Short-Term Investments	386	387	139	162	159	203	201	220	188	214	215
Accounts Receivable	1,198	1,641	1,917	1,146	1,927	1,705	1,843	1,942	2,668	2,447	2,632
Inventories, net	1,317	1,339	967	388	921	1,169	1,310	989	1,350	1,880	1,715
Prepaid Expenses	275	172	326	-	209	156	127	130	255	274	286
Current Deferred & Refundable Income Taxes	0.00	-	-	-	-	86	185	122	99	156	38
Other Current Assets	400	357	331	398	454	326	247	1,036	1,659	732	656
Plant, Property, & Equipment, net	43,635	46,133	45,639	40,629	55,099	60,138	63,902	66,001	73,339	76,693	82,416
Plant, Property & Equipment, gross	63,606	65,481	62,037	40,629	73,085	79,146	84,313	86,806	97,021	101,246	108,602
Accumulated Depreciation	19,971	19,348	16,397	-	17,986	19,008	20,411	20,805	23,682	24,553	26,186
Total Noncurrent Assets	10,910	11,478	11,795	1,264	9,590	11,676	12,504	13,858	13,289	13,909	14,874
Goodwill	53	53	53	53	53	53	53	53	53	53	53
Other Noncurrent Operating Assets	10,857	11,425	11,742	1,211	9,537	11,624	12,452	13,806	13,236	13,856	14,821
Total Liabilities & Shareholders' Equity	59,545	61,683	63,468	14,086	68,803	75,892	80,757	87,669	93,403	96,684	103,078
Total Liabilities	42,720	43,778	46,048	4,331	49,635	55,871	59,938	64,945	69,235	71,356	76,054
Total Current Liabilities	7,967	7,109	9,498	2,008	8,649	10,299	9,927	12,427	13,266	11,584	13,009
Short-Term Debt	3,846	2,632	4,591	1,639	3,609	4,437	4,565	4,768	6,599	5,321	5,859
Accounts Payable	1,258	1,418	1,689	0.00	1,874	2,086	1,710	2,055	2,671	2,033	2,638
Customer Deposits	324	347	343	357	412	366	336	322	409	424	455
Current Deferred & Payable Income Tax Liabilities	864	979	1,048	-	1,218	1,358	1,476	1,586	1,715	1,800	1,922
Other Current Liabilities	1,296	1,392	1,356	-	1,246	1,488	1,331	1,445	1,423	1,596	1,683
Other Current Nonoperating Liabilities	378	341	471	12	290	564	562	2,253	452	410	453
Total Noncurrent Liabilities	34,404	36,670	36,550	2,324	40,986	45,571	50,011	52,519	55,969	59,772	63,045
Long-Term Debt	16,012	17,741	17,378	0.00	21,648	25,127	28,986	31,301	34,315	37,653	39,308
Asset Retirement Reserve & Litigation Obligation	5,843	5,543	5,582	1,926	10,828	10,674	10,848	11,363	10,995	11,155	11,875
Noncurrent Deferred & Payable Income Tax Liabilities	10,892	11,733	11,884	-	7,087	7,588	8,241	8,203	8,897	9,416	9,972
Noncurrent Employee Benefit Liabilities	630	583	614	398	377	466	336	328	257	242	361
Other Noncurrent Operating Liabilities	1,027	1,070	1,091	-	1,046	1,716	1,599	1,324	1,505	1,307	1,529
Commitments & Contingencies	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	0.00	69	66	0.00	0.00	0.00	43	38
Total Equity & Noncontrolling Interests	16,825	17,905	17,420	9,755	19,059	19,913	20,775	22,680	24,122	25,286	26,986
Total Preferred & Common Equity	16,820	17,892	17,397	18,287	19,028	19,632	20,551	22,433	23,893	25,247	26,944
Total Common Equity	16,820	17,892	17,397	9,728	19,028	19,632	20,551	22,433	23,893	25,247	26,944
Common Stock	9,517	9,621	9,661	9,728	9,824	9,879	9,948	10,581	11,464	12,502	13,078
Retained Earnings	7,407	8,398	7,892	-	9,325	9,901	10,688	11,667	12,346	12,800	13,869
Accumulated Other Comprehensive Income / (Loss)	-103	-127	-156	-	-120	-148	-85	185	84	-56	-3.10
Noncontrolling Interest	4.30	13	23	27	31	281	224	247	229	39	42

This table presents American Electric Power's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	91,249	93,403	94,518	96,002	95,126	96,684	97,745	99,623	100,119	104,395	107,779
Total Current Assets	9,320	6,776	7,798	8,041	6,737	6,082	5,850	6,653	6,021	5,937	6,322
Cash & Equivalents	522	509	344	305	353	330	231	203	246	257	227
Restricted Cash	55	47	50	46	54	49	51	45	53	35	51
Short-Term Investments	202	188	195	203	211	214	217	226	229	207	212
Accounts Receivable	2,401	2,668	2,304	2,386	2,565	2,447	2,415	2,652	2,597	2,618	2,797
Inventories, net	1,134	1,350	1,457	1,682	1,720	1,880	1,770	1,763	1,686	1,582	1,622
Prepaid Expenses	317	255	341	310	323	274	373	411	448	325	284
Current Deferred & Refundable Income Taxes	151	99	141	192	160	156	89	171	125	67	112
Other Current Assets	1,707	1,659	1,571	1,536	1,350	732	703	829	636	847	1,017
Plant, Property, & Equipment, net	69,813	73,339	73,347	74,681	75,821	76,693	77,796	78,860	80,074	83,563	86,337
Plant, Property & Equipment, gross	92,105	97,021	96,708	98,416	99,999	101,246	102,833	104,252	105,927	110,175	113,793
Accumulated Depreciation	22,292	23,682	23,361	23,734	24,177	24,553	25,037	25,392	25,853	26,612	27,456
Total Noncurrent Assets	12,116	13,289	13,373	13,279	12,568	24,191	14,099	14,109	24,906	14,895	15,120
Goodwill	53	53	53	53	53	53	53	53	53	53	53
Other Noncurrent Operating Assets	12,064	13,236	13,320	13,227	12,515	24,139	14,047	14,057	24,854	14,843	15,067
Total Liabilities & Shareholders' Equity	91,249	93,403	94,518	96,002	95,126	96,684	97,745	99,623	100,119	104,395	107,779
Total Liabilities	66,664	69,235	70,494	71,814	69,701	71,356	71,849	73,390	73,395	76,984	76,760
Total Current Liabilities	11,836	13,266	12,622	13,267	11,278	11,584	10,907	10,163	10,648	14,242	11,443
Short-Term Debt	4,106	6,599	6,527	7,248	5,504	5,321	4,936	3,754	4,486	7,525	4,714
Accounts Payable	2,240	2,671	2,269	2,434	2,259	2,033	1,991	2,332	2,266	2,381	2,714
Customer Deposits	376	409	390	382	380	424	436	442	411	468	454
Current Deferred & Payable Income Tax Liabilities	1,117	1,715	1,600	1,367	1,201	1,800	1,676	1,513	1,237	1,797	1,528
Other Current Liabilities	1,539	1,423	1,211	1,252	1,331	1,481	1,253	1,553	1,567	1,483	1,554
Other Current Nonoperating Liabilities	2,459	452	624	584	604	526	614	570	681	589	479
Total Noncurrent Liabilities	54,827	55,969	57,872	58,547	58,423	59,772	60,943	63,227	62,747	62,742	65,316
Long-Term Debt	33,647	34,315	36,239	36,762	36,716	37,653	38,637	39,990	39,148	38,811	41,313
Asset Retirement Reserve & Litigation Obligation	10,789	10,995	10,973	11,001	10,812	11,155	11,062	11,820	12,054	11,846	11,599
Noncurrent Deferred & Payable Income Tax Liabilities	8,545	8,897	8,989	9,158	9,267	9,416	9,662	9,786	9,959	10,199	10,522
Noncurrent Employee Benefit Liabilities	280	257	247	249	238	242	231	227	217	358	271
Other Noncurrent Operating Liabilities	1,567	1,505	1,424	1,377	1,390	1,307	1,350	1,404	1,370	1,528	1,612
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	47	51
Total Equity & Noncontrolling Interests	24,512	24,122	23,968	24,124	25,350	25,286	25,844	26,176	26,659	27,364	30,968
Total Preferred & Common Equity	24,278	23,893	23,738	23,901	25,310	25,247	25,803	26,135	26,617	27,321	29,871
Total Common Equity	24,278	23,893	23,738	23,901	25,310	25,247	25,803	26,135	26,617	27,321	29,871
Common Stock	11,414	11,464	11,493	11,532	12,421	12,502	12,528	12,964	13,004	13,131	14,987
Retained Earnings	12,390	12,346	12,314	12,406	12,930	12,800	13,338	13,211	13,701	14,169	14,897
Accumulated Other Comprehensive Income / (Loss)	475	84	-68	-36	-41	-56	-62	-40	-87	20	-13
Noncontrolling Interest	234	229	230	222	40	39	40	41	41	43	1,097

This table displays calculated financial ratios and metrics derived from American Electric Power's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.40%	2.26%	-4.77%	-5.83%	5.00%	-3.92%	-4.13%	12.56%	16.96%	-3.35%	3.89%
EBITDA Growth	-57.66%	154.33%	-37.97%	73.89%	-9.39%	4.62%	11.51%	9.83%	-38.69%	1.68%	17.55%
EBIT Growth	-36.27%	61.11%	-62.08%	198.66%	-21.63%	-3.06%	15.51%	12.88%	9.00%	1.04%	24.18%
NOPAT Growth	-41.16%	67.57%	-34.98%	71.93%	9.29%	3.35%	12.29%	11.02%	13.21%	-3.41%	25.80%
Net Income Growth	10.36%	25.29%	-69.89%	212.12%	0.12%	-0.60%	14.42%	13.27%	-7.33%	-4.03%	34.49%
EPS Growth	9.87%	24.85%	-70.26%	212.90%	0.52%	-0.51%	13.92%	12.22%	-9.48%	-5.57%	31.60%
Operating Cash Flow Growth	-87.09%	1,399.22%	-6.21%	-5.51%	12.37%	-15.30%	-5.69%	0.18%	-73.59%	-71.42%	0.00%
Free Cash Flow Firm Growth	100.00%	-158,555.29%	625.43%	-172.10%	69.81%	-531.21%	1,931.53%	-91.08%	-1,439.17%	100.18%	118.28%
Invested Capital Growth	3.59%	6.89%	-1.81%	10.11%	7.21%	12.25%	-97.36%	0.00%	0.00%	5.32%	5.97%
Revenue Q/Q Growth	4.59%	0.00%	0.00%	-25.17%	-16.79%	-1.18%	-1.45%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	-60.90%	0.00%	50.84%	-45.30%	-11.93%	-2.30%	7.48%	0.00%	0.00%	0.00%	3,561.79%
EBIT Q/Q Growth	-41.16%	0.00%	0.00%	-57.18%	-20.84%	-8.32%	14.29%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	-42.72%	0.00%	0.00%	-72.55%	-26.26%	-6.03%	18.48%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	-8.65%	0.00%	0.00%	-45.45%	477.54%	-9.95%	25.86%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	-8.99%	0.00%	0.00%	1.57%	-2.01%	-9.98%	25.93%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-93.29%	0.00%	-6.21%	-44.13%	-5.52%	-3.60%	5.40%	0.00%	0.00%	0.00%	280.60%
Free Cash Flow Firm Q/Q Growth	-100.19%	-101.08%	105.59%	-103.36%	-129.13%	93.46%	981.29%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-0.32%	0.00%	2.73%	3,554.62%	1,354.50%	2.15%	-97.69%	0.00%	0.00%	0.00%	-11.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.94%	44.53%	65.02%	49.19%	45.88%	49.56%	53.47%	52.27%	49.20%	50.54%	69.90%
EBITDA Margin	12.36%	30.73%	20.02%	36.97%	31.90%	34.73%	40.40%	39.42%	20.67%	21.74%	39.99%
Operating Margin	11.75%	18.51%	7.11%	22.85%	16.56%	16.66%	20.03%	20.32%	18.80%	19.22%	21.82%
EBIT Margin	11.75%	18.51%	7.37%	23.37%	17.45%	17.60%	21.21%	21.27%	19.82%	20.72%	22.79%
Profit (Net Income) Margin	9.74%	11.93%	3.77%	12.51%	11.92%	12.34%	14.72%	14.82%	11.74%	11.66%	15.09%
Tax Burden Percent	68.17%	78.25%	129.94%	68.49%	97.86%	104.63%	102.36%	99.05%	95.26%	100.18%	104.67%
Interest Burden Percent	121.60%	82.39%	39.40%	78.12%	69.85%	66.99%	67.84%	70.34%	62.18%	56.15%	63.25%
Effective Tax Rate	37.56%	35.06%	-15.50%	34.43%	5.84%	-0.70%	1.89%	4.60%	0.22%	2.47%	-1.38%
Return on Invested Capital (ROIC)	3.53%	5.61%	3.56%	5.89%	5.93%	5.58%	11.54%	0.00%	11.37%	5.35%	6.22%
ROIC Less NNEP Spread (ROIC-NNEP)	5.71%	5.54%	-0.06%	4.40%	3.82%	3.04%	6.74%	0.00%	4.59%	2.13%	3.07%
Return on Net Nonoperating Assets (RNNOA)	6.43%	6.21%	-0.07%	8.31%	7.45%	4.24%	10.21%	0.00%	7.74%	3.61%	5.15%
Return on Equity (ROE)	9.95%	11.82%	3.50%	14.20%	13.37%	9.82%	21.75%	0.00%	19.12%	8.96%	11.37%
Cash Return on Invested Capital (CROIC)	0.00%	-1.05%	5.39%	-3.73%	-1.04%	-5.96%	201.24%	0.00%	-188.63%	0.17%	0.43%
Operating Return on Assets (OROA)	3.41%	5.25%	1.93%	6.70%	5.00%	3.79%	8.10%	0.00%	4.17%	4.14%	4.50%
Return on Assets (ROA)	2.83%	3.39%	0.99%	3.58%	3.42%	2.65%	5.63%	0.00%	2.47%	2.33%	2.98%
Return on Common Equity (ROCE)	9.95%	11.81%	3.50%	14.17%	13.31%	9.71%	21.13%	0.00%	18.93%	8.91%	11.33%
Return on Equity Simple (ROE_SIMPLE)	9.74%	11.47%	3.55%	10.55%	10.15%	9.78%	0.00%	0.00%	9.65%	8.76%	11.04%
Net Operating Profit after Tax (NOPAT)	1,234	2,067	1,344	2,311	2,526	2,611	2,931	3,254	3,684	3,559	4,363
NOPAT Margin	7.33%	12.02%	8.21%	14.98%	15.60%	16.78%	19.65%	19.38%	18.76%	18.75%	22.12%
Net Nonoperating Expense Percent (NNEP)	-2.18%	0.08%	3.62%	1.49%	2.11%	2.53%	4.80%	0.00%	6.78%	3.22%	3.15%
Return On Investment Capital (ROIC_SIMPLE)	3.36%	-	-	-	-	-	-	-	-	-	6.05%
Cost of Revenue to Revenue	63.06%	55.47%	34.98%	50.81%	54.12%	50.44%	46.53%	47.73%	50.80%	49.46%	30.10%
SG&A Expenses to Revenue	0.00%	0.00%	18.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.19%	26.03%	57.91%	26.34%	29.31%	32.90%	33.44%	31.96%	30.40%	31.32%	48.08%
Earnings before Interest and Taxes (EBIT)	1,976	3,184	1,207	3,605	2,825	2,739	3,164	3,571	3,893	3,933	4,495
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,078	5,286	3,279	5,702	5,167	5,405	6,027	6,620	4,059	4,127	7,888
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.36	1.31	1.52	3.28	1.77	2.24	0.00	0.00	2.05	1.77	1.98
Price to Tangible Book Value (P/TBV)	1.37	1.32	1.52	3.30	1.78	2.25	0.00	0.00	2.05	1.77	1.99
Price to Revenue (P/Rev)	1.36	1.37	1.61	2.07	2.08	2.83	2.66	2.64	2.49	2.35	2.71
Price to Earnings (P/E)	14.02	11.49	43.18	16.69	17.52	22.94	18.06	17.80	19.42	19.41	18.00
Dividend Yield	4.86%	5.03%	4.74%	4.13%	4.15%	3.40%	3.92%	3.74%	3.58%	4.28%	3.91%
Earnings Yield	7.13%	8.70%	2.32%	5.99%	5.71%	4.36%	5.54%	5.62%	5.15%	5.15%	5.56%
Enterprise Value to Invested Capital (EV/IC)	1.19	1.14	1.28	0.81	1.33	1.48	32.28	0.00	1.38	1.28	1.36
Enterprise Value to Revenue (EV/Rev)	2.51	2.52	2.92	2.15	3.61	4.71	2.83	0.00	4.55	4.59	4.98
Enterprise Value to EBITDA (EV/EBITDA)	20.31	8.20	14.59	5.83	11.32	13.57	7.01	0.00	22.00	21.10	12.45
Enterprise Value to EBIT (EV/EBIT)	21.37	13.61	39.62	9.21	20.69	26.78	13.35	0.00	22.93	22.14	21.85
Enterprise Value to NOPAT (EV/NOPAT)	34.22	20.96	35.58	14.37	23.14	28.09	14.41	0.00	24.23	24.47	22.51
Enterprise Value to Operating Cash Flow (EV/OCF)	131.36	8.99	10.58	7.78	12.18	18.05	11.02	0.00	88.03	300.46	14.43
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	23.53	0.00	0.00	0.00	0.83	0.00	0.00	778.85	328.12
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.18	1.14	1.26	0.17	1.32	1.48	11.09	0.00	1.70	1.70	1.67
Long-Term Debt to Equity	0.95	0.99	1.00	0.00	1.13	1.26	0.00	0.00	1.42	1.49	1.45
Financial Leverage	1.13	1.12	1.14	1.89	1.95	1.39	1.52	0.00	1.69	1.69	1.68
Leverage Ratio	3.52	3.49	3.54	3.96	3.91	3.70	3.87	0.00	3.87	3.85	3.82
Compound Leverage Factor	4.28	2.88	1.40	3.09	2.73	2.48	2.62	0.00	2.41	2.16	2.41
Debt to Total Capital	54.14%	53.22%	55.77%	14.38%	56.90%	59.67%	91.73%	0.00%	62.91%	62.96%	62.57%
Short-Term Debt to Total Capital	10.49%	6.88%	11.66%	14.38%	8.13%	8.96%	91.73%	0.00%	10.15%	7.79%	8.12%
Long-Term Debt to Total Capital	43.65%	46.35%	44.12%	0.00%	48.77%	50.72%	0.00%	0.00%	52.76%	55.16%	54.45%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.03%	0.06%	0.23%	0.23%	0.70%	8.27%	0.00%	0.35%	0.06%	0.11%
Common Equity to Total Capital	45.85%	46.74%	44.17%	85.38%	42.87%	39.63%	0.00%	0.00%	36.74%	36.99%	37.32%
Debt to EBITDA	9.55	3.85	6.70	0.29	4.89	5.47	0.41	0.00	10.08	10.41	5.73
Net Debt to EBITDA	9.29	3.75	6.53	0.22	4.77	5.35	0.38	0.00	9.90	10.27	5.67
Long-Term Debt to EBITDA	7.70	3.36	5.30	0.00	4.19	4.65	0.00	0.00	8.45	9.12	4.98
Debt to NOPAT	16.10	9.85	16.34	0.71	10.00	11.32	0.85	0.00	11.10	12.08	10.35
Net Debt to NOPAT	15.65	9.58	15.94	0.55	9.76	11.08	0.78	0.00	10.90	11.91	10.25
Long-Term Debt to NOPAT	12.98	8.58	12.93	0.00	8.57	9.63	0.00	0.00	9.31	10.58	9.01
Altman Z-Score	0.82	0.90	0.77	5.05	0.89	0.88	17.70	0.00	0.87	0.82	0.86
Noncontrolling Interest Sharing Ratio	0.02%	0.05%	0.10%	0.18%	0.44%	1.14%	2.82%	0.00%	0.95%	0.54%	0.31%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.56	0.57	0.64	1.14	0.48	0.40	0.46	0.00	0.51	0.53	0.45
Quick Ratio	0.22	0.31	0.24	0.65	0.27	0.21	0.44	0.00	0.25	0.26	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-0.24	-387	2,032	-1,465	-442	-2,792	51,138	4,563	-61,103	112	299
Operating Cash Flow to CapEx	495.99%	90,915.09%	4,188.42%	0.00%	0.00%	442.53%	0.00%	291.12%	38.38%	17.57%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-0.44	2.32	-1.64	-0.45	-2.60	43.87	3.81	-43.77	0.06	0.16
Operating Cash Flow to Interest Expense	0.37	5.51	5.15	4.77	4.87	3.79	3.29	3.20	0.73	0.16	3.65
Operating Cash Flow Less CapEx to Interest Expense	0.30	5.51	5.03	7.18	4.87	2.93	3.29	2.10	-1.17	-0.75	3.85
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.29	0.28	0.26	0.29	0.29	0.22	0.38	0.00	0.21	0.20	0.20
Accounts Receivable Turnover	14.55	12.12	9.21	10.07	10.54	8.57	10.96	0.00	7.36	7.42	7.77
Inventory Turnover	7.74	7.18	4.97	11.57	13.40	7.51	0.00	0.00	7.39	5.81	3.30
Fixed Asset Turnover	0.40	0.38	0.36	0.36	0.34	0.27	0.00	0.00	0.27	0.25	0.25
Accounts Payable Turnover	8.40	7.13	3.69	0.00	0.00	3.96	0.00	0.00	3.74	3.99	2.54
Days Sales Outstanding (DSO)	25.09	30.12	39.63	36.24	34.62	42.59	33.32	0.00	49.58	49.18	47.00
Days Inventory Outstanding (DIO)	47.14	50.81	73.46	31.55	27.25	48.60	0.00	0.00	49.40	62.78	110.51
Days Payable Outstanding (DPO)	43.43	51.19	98.94	0.00	0.00	92.07	0.00	0.00	97.72	91.42	143.57
Cash Conversion Cycle (CCC)	28.79	29.73	14.16	67.79	61.87	-0.88	33.32	0.00	1.27	20.54	13.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	35,601	38,055	37,367	41,144	44,112	49,515	1,308	0.00	64,788	68,234	72,182
Invested Capital Turnover	0.48	0.47	0.43	0.39	0.38	0.33	0.59	0.00	0.61	0.29	0.28
Increase / (Decrease) in Invested Capital	1,234	2,454	-688	3,777	2,968	5,403	-48,206	-1,308	64,788	3,447	4,064
Enterprise Value (EV)	42,218	43,342	47,829	33,221	58,462	73,338	42,226	0.00	89,271	87,073	98,188
Market Capitalization	22,903	23,519	26,379	31,915	33,708	44,063	39,724	44,276	48,872	44,654	53,403
Book Value per Share	$30.66	$36.49	$31.57	$17.65	$34.44	$35.48	$0.00	$0.00	$43.28	$44.55	$46.10
Tangible Book Value per Share	$30.56	$36.38	$31.47	$17.55	$34.34	$35.38	($0.10)	$0.00	$43.18	$44.46	$46.01
Total Capital	36,683	38,278	39,390	11,393	44,386	49,543	2,703	0.00	65,036	68,259	72,191
Total Debt	19,858	20,373	21,969	1,639	25,257	29,564	2,479	0.00	40,913	42,973	45,167
Total Long-Term Debt	16,012	17,741	17,378	0.00	21,648	25,127	0.00	0.00	34,315	37,653	39,308
Net Debt	19,310	19,810	21,427	1,279	24,654	28,929	2,279	0.00	40,169	42,380	44,705
Capital Expenditures (CapEx)	65	5.30	108	-2,160	0.00	918	0.00	1,319	2,642	1,649	-362
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-190	-968	585	1,563	-1,530	-2,420	787	0.00	-636	-774	-1,823
Debt-free Net Working Capital (DFNWC)	358	-404	1,127	1,922	-926	-1,784	987	0.00	108	-181	-1,362
Net Working Capital (NWC)	-3,489	-3,036	-3,464	284	-4,535	-6,221	-1,492	0.00	-6,491	-5,502	-7,221
Net Nonoperating Expense (NNE)	-404	15	726	382	595	691	735	766	1,379	1,346	1,387
Net Nonoperating Obligations (NNO)	18,777	20,150	19,947	31,389	24,983	29,536	1,085	0.00	40,665	42,949	45,159
Total Depreciation and Amortization (D&A)	102	2,102	2,072	2,097	2,341	2,666	2,864	3,048	166	193	3,393
Debt-free, Cash-free Net Working Capital to Revenue	-1.13%	-5.62%	3.57%	10.13%	-9.44%	-15.55%	5.27%	0.00%	-3.24%	-4.08%	-9.24%
Debt-free Net Working Capital to Revenue	2.13%	-2.35%	6.88%	12.46%	-5.72%	-11.47%	6.62%	0.00%	0.55%	-0.95%	-6.90%
Net Working Capital to Revenue	-20.74%	-17.65%	-21.15%	1.84%	-28.00%	-39.98%	-10.00%	0.00%	-33.05%	-28.98%	-36.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.34	$4.17	$1.24	$3.89	$3.90	$3.89	$4.44	$0.00	$0.00	$4.26	$5.60
Adjusted Weighted Average Basic Shares Outstanding	488.59M	490.34M	491.50M	491.81M	492.77M	493.69M	495.72M	0.00	0.00	518.90M	530.09M
Adjusted Diluted Earnings per Share	$3.34	$4.17	$1.24	$3.88	$3.90	$3.88	$4.42	$0.00	$0.00	$4.24	$5.58
Adjusted Weighted Average Diluted Shares Outstanding	488.90M	490.57M	491.66M	492.61M	493.76M	495.31M	497.23M	0.00	0.00	520.21M	531.34M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	548.80M	550.45M	551.11M	551.41M	552.65M	59.40T	51.87T	0.00	0.00	578.05M	584.78M
Normalized Net Operating Profit after Tax (NOPAT)	1,234	2,067	2,402	2,220	2,592	1,924	2,931	3,266	3,733	3,642	3,112
Normalized NOPAT Margin	7.33%	12.02%	14.67%	14.39%	16.01%	12.36%	19.65%	19.45%	19.01%	19.19%	15.78%
Pre Tax Income Margin	14.29%	15.25%	2.90%	18.26%	12.19%	11.79%	14.39%	14.96%	12.32%	11.64%	14.42%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.28	3.64	1.38	4.03	2.87	2.55	2.71	2.98	2.79	2.18	2.41
NOPAT to Interest Expense	1.42	2.37	1.53	2.58	2.57	2.43	2.51	2.71	2.64	1.97	2.34
EBIT Less CapEx to Interest Expense	2.20	3.64	1.25	6.44	2.87	1.70	2.71	1.88	0.90	1.26	2.61
NOPAT Less CapEx to Interest Expense	1.35	2.36	1.41	5.00	2.57	1.58	2.51	1.61	0.75	1.06	2.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	60.90%	51.60%	181.39%	61.79%	65.01%	70.32%	64.87%	-39.17%	-71.50%	-79.74%	63.98%
Augmented Payout Ratio	60.90%	51.60%	181.39%	61.79%	65.01%	70.32%	64.87%	-39.17%	-71.50%	-79.74%	63.98%

This table displays calculated financial ratios and metrics derived from American Electric Power's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	2.14%	0.00%	0.00%	0.00%	0.00%	4.73%	1.47%	0.00%	8.71%	11.09%
EBITDA Growth	-67.28%	-17.11%	0.00%	0.00%	-4.28%	39.31%	-7.69%	3.13%	0.00%	7.04%	47.93%
EBIT Growth	-100.00%	-25.31%	0.00%	0.00%	0.00%	58.88%	-22.23%	0.43%	0.00%	7.78%	97.33%
NOPAT Growth	-100.00%	-25.35%	0.00%	0.00%	0.00%	99.82%	-19.02%	2.63%	0.00%	-19.54%	160.44%
Net Income Growth	0.00%	-44.24%	0.00%	0.00%	0.00%	0.00%	-33.64%	0.35%	0.00%	-20.23%	276.15%
EPS Growth	0.00%	-45.39%	0.00%	0.00%	0.00%	0.00%	-36.63%	-1.64%	0.00%	-21.05%	257.81%
Operating Cash Flow Growth	-54.11%	-55.75%	0.00%	0.00%	207.82%	0.00%	0.00%	24.94%	0.00%	0.54%	-16.48%
Free Cash Flow Firm Growth	-202.92%	0.00%	0.00%	0.00%	54.59%	95.70%	0.00%	0.00%	0.00%	-13.17%	91.93%
Invested Capital Growth	12.77%	0.00%	0.00%	0.00%	5.14%	6.35%	0.00%	0.00%	5.97%	6.11%	10.49%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	22.17%	0.00%	0.00%	0.00%	18.36%	-13.35%	16.33%	-6.89%
EBITDA Q/Q Growth	-77.33%	0.00%	16.36%	48.06%	-84.32%	0.00%	-19.33%	65.41%	-40.75%	41.64%	6.56%
EBIT Q/Q Growth	-100.00%	0.00%	21.85%	50.42%	-100.00%	0.00%	-40.36%	94.24%	-22.71%	20.37%	9.20%
NOPAT Q/Q Growth	-100.00%	0.00%	20.56%	53.13%	-100.00%	0.00%	-51.14%	94.08%	-22.78%	9.89%	58.14%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	85.68%	0.00%	0.00%	0.00%	180.79%	-30.76%	20.47%	60.60%
EPS Q/Q Growth	0.00%	0.00%	0.00%	81.19%	0.00%	0.00%	0.00%	181.25%	-31.11%	20.97%	52.67%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-35.76%	0.00%	0.00%	0.00%	-36.23%	-4.52%	-15.79%
Free Cash Flow Firm Q/Q Growth	-358.05%	0.00%	100.00%	0.00%	-105.33%	0.00%	-2,380.99%	-15.99%	96.18%	-2.94%	92.34%
Invested Capital Q/Q Growth	5.88%	0.00%	-100.00%	0.00%	0.00%	0.00%	0.19%	16.74%	-11.32%	2.29%	4.33%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	49.13%	52.72%	53.63%	0.00%	53.48%	52.27%	54.52%	106.18%	66.09%	69.70%
EBITDA Margin	0.00%	30.89%	38.56%	46.73%	0.00%	40.16%	33.99%	47.50%	32.48%	39.55%	45.26%
Operating Margin	0.00%	15.02%	20.00%	25.33%	0.00%	23.33%	14.93%	24.94%	23.33%	23.51%	27.50%
EBIT Margin	0.00%	16.52%	21.60%	26.59%	0.00%	24.50%	16.04%	26.32%	23.48%	24.29%	28.49%
Profit (Net Income) Margin	0.00%	8.54%	11.80%	17.94%	0.00%	20.01%	7.48%	17.74%	14.18%	14.68%	25.33%
Tax Burden Percent	0.00%	102.51%	98.25%	95.72%	0.00%	119.83%	105.71%	97.94%	95.44%	90.19%	126.70%
Interest Burden Percent	0.00%	50.40%	55.63%	70.49%	0.00%	68.16%	44.12%	68.83%	63.28%	67.03%	70.16%
Effective Tax Rate	0.00%	2.66%	5.44%	6.41%	0.00%	-16.91%	2.07%	3.82%	8.38%	14.11%	-24.68%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.01%	5.68%	9.66%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.24%	5.01%	8.64%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.80%	8.48%	13.53%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.81%	14.16%	23.19%
Cash Return on Invested Capital (CROIC)	-6.32%	0.00%	0.00%	0.00%	0.21%	-6.15%	0.00%	0.00%	0.43%	-0.26%	-2.92%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.64%	4.84%	5.68%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.80%	2.93%	5.05%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.77%	14.12%	22.70%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.15%	0.00%
Net Operating Profit after Tax (NOPAT)	0.00	686	827	1,267	0.00	1,371	670	1,300	1,004	1,103	1,744
NOPAT Margin	0.00%	14.62%	18.92%	23.71%	0.00%	27.28%	14.63%	23.98%	21.37%	20.19%	34.29%
Net Nonoperating Expense Percent (NNEP)	0.00%	1.38%	0.00%	0.00%	0.00%	0.86%	1.50%	1.24%	0.77%	0.67%	1.02%
Return On Investment Capital (ROIC_SIMPLE)	0.00%	-	-	-	0.00%	-	-	-	1.39%	1.50%	2.27%
Cost of Revenue to Revenue	0.00%	50.87%	47.28%	46.37%	0.00%	46.52%	47.73%	45.48%	-6.18%	33.91%	30.30%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.77%	10.57%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	34.10%	32.98%	28.30%	0.00%	30.15%	37.33%	29.59%	82.85%	42.58%	42.19%
Earnings before Interest and Taxes (EBIT)	0.00	775	944	1,420	0.00	1,231	734	1,427	1,103	1,327	1,449
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	409	1,449	1,686	2,496	392	2,018	1,556	2,574	1,525	2,161	2,302
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.04	1.89	0.00	0.00	0.00	1.86	0.00	2.25	1.98	2.34	2.04
Price to Tangible Book Value (P/TBV)	2.04	1.90	0.00	0.00	0.00	1.86	0.00	2.26	1.99	2.34	2.04
Price to Revenue (P/Rev)	2.48	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.71	3.17	2.94
Price to Earnings (P/E)	21.11	0.00	0.00	0.00	0.00	0.00	0.00	0.00	18.00	23.10	16.66
Dividend Yield	3.68%	3.69%	4.09%	4.60%	4.40%	4.05%	3.99%	3.43%	3.91%	3.31%	3.54%
Earnings Yield	4.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.56%	4.33%	6.00%
Enterprise Value to Invested Capital (EV/IC)	1.38	1.34	0.00	0.00	0.00	1.31	0.00	1.27	1.36	1.49	1.40
Enterprise Value to Revenue (EV/Rev)	4.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.98	5.45	5.20
Enterprise Value to EBITDA (EV/EBITDA)	13.14	0.00	0.00	0.00	0.00	0.00	0.00	478.48	12.45	13.85	12.39
Enterprise Value to EBIT (EV/EBIT)	25.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	21.85	23.92	20.26
Enterprise Value to NOPAT (EV/NOPAT)	25.64	0.00	0.00	0.00	0.00	0.00	0.00	0.00	22.51	27.00	20.78
Enterprise Value to Operating Cash Flow (EV/OCF)	16.85	0.00	0.00	0.00	0.00	0.00	0.00	57.65	14.43	16.12	16.36
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	328.12	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.70	1.78	0.00	0.00	1.70	1.69	1.67	1.64	1.67	1.69	1.48
Long-Term Debt to Equity	1.42	1.51	0.00	0.00	1.49	1.50	1.53	1.47	1.45	1.42	1.33
Financial Leverage	1.61	1.73	0.00	0.00	1.69	1.71	1.66	2.05	1.68	1.69	1.57
Leverage Ratio	3.87	3.94	0.00	0.00	3.84	3.86	3.81	3.76	3.82	3.80	3.63
Compound Leverage Factor	0.00	1.99	0.00	0.00	0.00	2.63	1.68	2.59	2.41	2.54	2.54
Debt to Total Capital	62.91%	64.08%	0.00%	0.00%	62.92%	62.77%	62.56%	62.07%	62.57%	62.83%	59.74%
Short-Term Debt to Total Capital	10.15%	9.78%	0.00%	0.00%	7.79%	7.11%	5.37%	6.38%	8.12%	10.20%	6.12%
Long-Term Debt to Total Capital	52.76%	54.30%	0.00%	0.00%	55.13%	55.66%	57.19%	55.69%	54.45%	52.63%	53.62%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.35%	0.34%	0.00%	0.00%	0.12%	0.06%	0.06%	0.06%	0.11%	0.12%	1.49%
Common Equity to Total Capital	36.74%	35.57%	0.00%	0.00%	36.96%	37.17%	37.38%	37.87%	37.32%	37.05%	38.77%
Debt to EBITDA	6.03	0.00	0.00	0.00	6.11	0.00	214.75	202.57	5.73	5.85	5.31
Net Debt to EBITDA	5.92	0.00	0.00	0.00	6.03	0.00	212.42	200.12	5.67	5.78	5.25
Long-Term Debt to EBITDA	5.06	0.00	0.00	0.00	5.36	0.00	196.32	181.74	4.98	4.90	4.76
Debt to NOPAT	11.77	0.00	0.00	0.00	12.39	0.00	0.00	0.00	10.35	11.39	8.90
Net Debt to NOPAT	11.56	0.00	0.00	0.00	12.22	0.00	0.00	0.00	10.25	11.27	8.80
Long-Term Debt to NOPAT	9.87	0.00	0.00	0.00	10.86	0.00	0.00	0.00	9.01	9.54	7.99
Altman Z-Score	0.73	0.53	0.00	0.00	0.00	0.57	0.00	0.67	0.75	0.83	0.85
Noncontrolling Interest Sharing Ratio	0.00%	0.96%	0.00%	0.00%	0.00%	0.54%	0.15%	0.16%	0.31%	0.24%	2.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.51	0.62	0.00	0.00	0.53	0.54	0.65	0.57	0.45	0.42	0.55
Quick Ratio	0.25	0.23	0.00	0.00	0.26	0.26	0.30	0.29	0.23	0.22	0.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-7,335	-64,744	0.00	0.00	-3,331	-2,783	-69,050	-80,094	-3,060	-3,150	-5,571
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	54,235.71%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-155.75	0.00	0.00	0.00	-6.39	-148.30	-160.57	-6.61	-6.36	-11.38
Operating Cash Flow to Interest Expense	0.00	1.73	0.00	4.05	0.00	0.00	0.00	4.77	3.28	2.93	2.49
Operating Cash Flow Less CapEx to Interest Expense	0.00	1.73	0.00	4.05	0.00	0.00	0.00	5.51	3.28	2.93	2.49
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.22	0.00	0.00	0.00	0.20	0.00	0.00	0.00	0.20	0.20	0.20
Accounts Receivable Turnover	8.52	0.00	0.00	0.00	7.42	0.00	0.00	0.00	7.77	8.01	7.59
Inventory Turnover	6.07	0.00	0.00	0.00	4.07	0.00	0.00	0.00	3.30	3.71	3.77
Fixed Asset Turnover	0.28	0.00	0.00	0.00	0.25	0.00	0.00	0.00	0.25	0.25	0.25
Accounts Payable Turnover	3.00	0.00	0.00	0.00	2.80	0.00	0.00	0.00	2.54	2.84	2.53
Days Sales Outstanding (DSO)	42.83	0.00	0.00	0.00	49.18	0.00	0.00	0.00	47.00	45.57	48.12
Days Inventory Outstanding (DIO)	60.15	0.00	0.00	0.00	89.60	0.00	0.00	0.00	110.51	98.47	96.73
Days Payable Outstanding (DPO)	121.50	0.00	0.00	0.00	130.48	0.00	0.00	0.00	143.57	128.41	144.19
Cash Conversion Cycle (CCC)	-18.51	0.00	0.00	0.00	8.30	0.00	0.00	0.00	13.94	15.63	0.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	64,788	65,430	0.00	0.00	68,119	69,584	69,719	81,394	72,182	73,837	77,035
Invested Capital Turnover	0.32	0.00	0.00	0.00	0.29	0.00	0.00	0.00	0.28	0.28	0.28
Increase / (Decrease) in Invested Capital	7,335	65,430	0.00	0.00	3,331	4,154	69,719	81,394	4,064	4,253	7,315
Enterprise Value (EV)	89,098	87,386	0.00	0.00	0.00	90,997	0.00	103,065	98,188	109,788	107,494
Market Capitalization	48,700	44,978	45,301	40,889	0.00	47,882	0.00	59,917	53,403	63,861	60,810
Book Value per Share	$42.23	$42.99	$0.00	$0.00	$48.65	$49.00	$49.41	$45.58	$46.10	$51.22	$50.97
Tangible Book Value per Share	$42.14	$42.90	$0.00	$0.00	$48.55	$48.90	$49.32	$45.49	$46.01	$51.12	$50.88
Total Capital	65,036	66,734	0.00	0.00	68,302	69,417	69,920	70,293	72,191	73,747	77,046
Total Debt	40,913	42,766	0.00	0.00	42,973	43,574	43,744	43,634	45,167	46,336	46,027
Total Long-Term Debt	34,315	36,239	0.00	0.00	37,653	38,637	39,990	39,148	39,308	38,811	41,313
Net Debt	40,169	42,178	0.00	0.00	42,380	43,075	43,270	43,106	44,705	45,837	45,537
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	-5.80	0.00	0.00	-365	2.80	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-636	1,116	0.00	0.00	-774	-620	-230	-668	-1,823	-1,279	-898
Debt-free Net Working Capital (DFNWC)	108	1,704	0.00	0.00	-181	-121	244	-141	-1,362	-780	-407
Net Working Capital (NWC)	-6,491	-4,824	0.00	0.00	-5,502	-5,057	-3,510	-4,627	-7,221	-8,305	-5,121
Net Nonoperating Expense (NNE)	0.00	286	311	308	0.00	365	327	338	338	301	456
Net Nonoperating Obligations (NNO)	40,665	41,463	0.00	0.00	42,790	43,741	43,544	54,735	45,159	46,427	46,016
Total Depreciation and Amortization (D&A)	409	674	742	1,076	392	787	822	1,148	423	833	853
Debt-free, Cash-free Net Working Capital to Revenue	-3.24%	0.00%	0.00%	0.00%	-4.08%	0.00%	0.00%	0.00%	-9.24%	-6.35%	-4.35%
Debt-free Net Working Capital to Revenue	0.55%	0.00%	0.00%	0.00%	-0.95%	0.00%	0.00%	0.00%	-6.90%	-3.87%	-1.97%
Net Working Capital to Revenue	-33.05%	0.00%	0.00%	0.00%	-28.98%	0.00%	0.00%	0.00%	-36.61%	-41.20%	-24.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.77	$0.00	$0.00	$0.00	$1.91	$0.64	$1.80	$1.25	$1.50	$2.29
Adjusted Weighted Average Basic Shares Outstanding	511.84M	514.18M	0.00	0.00	518.90M	526.55M	528.90M	532.21M	530.09M	533.39M	534.28M
Adjusted Diluted Earnings per Share	$0.00	$0.77	$0.00	$0.00	$0.00	$1.90	$0.64	$1.80	$1.24	$1.50	$2.29
Adjusted Weighted Average Diluted Shares Outstanding	513.48M	515.60M	0.00	0.00	520.21M	527.60M	530.14M	533.60M	531.34M	534.66M	536.43M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	565.73M	566.66M	0.00	0.00	578.05M	578.99M	583.99M	584.43M	584.78M	586.06M	586.66M
Normalized Net Operating Profit after Tax (NOPAT)	0.00	795	827	1,267	0.00	821	809	1,300	1,004	1,103	979
Normalized NOPAT Margin	0.00%	16.95%	18.92%	23.71%	0.00%	16.33%	17.67%	23.98%	21.37%	20.19%	19.25%
Pre Tax Income Margin	0.00%	8.33%	12.01%	18.74%	0.00%	16.70%	7.08%	18.12%	14.86%	16.28%	19.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	1.86	2.05	3.02	0.00	2.83	1.58	2.86	2.38	2.68	2.96
NOPAT to Interest Expense	0.00	1.65	1.80	2.69	0.00	3.15	1.44	2.61	2.17	2.23	3.56
EBIT Less CapEx to Interest Expense	0.00	1.86	2.05	3.02	0.00	2.83	1.58	3.59	2.38	2.68	2.96
NOPAT Less CapEx to Interest Expense	0.00	1.65	1.80	2.69	0.00	3.15	1.44	3.34	2.16	2.23	3.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	71.36%	0.00%	0.00%	0.00%	79.56%	0.00%	0.00%	0.00%	63.98%	69.91%	52.94%
Augmented Payout Ratio	71.36%	0.00%	0.00%	0.00%	79.56%	0.00%	0.00%	0.00%	63.98%	69.91%	52.94%

Key Financial Trends

American Electric Power (AEP) has exhibited consistent financial performance and strategic growth over the past several years, as evidenced by the latest quarterly results and historical data from 2022 to mid-2025.

Net income has shown a strong upward trend, growing from $400 million in Q1 2023 to $1.29 billion in Q2 2025, demonstrating improved profitability.
Total revenue steadily increased, with quarterly revenue rising from approximately $4.37 billion in Q2 2023 to about $5.09 billion in Q2 2025, indicating growth in operations and sales.
Operating income has consistently improved, reaching $1.4 billion in Q2 2025 compared to lower figures in previous years, reflecting better operational efficiency.
Strong cash flow from operating activities, peaking at approximately $1.2 billion in Q2 2025, supports ongoing investments and financial stability.
The company has been active in equity issuance, including over $2.8 billion in common equity issued in Q2 2025, which supports financing for capital projects and debt management.
Steady increase in Plant, Property & Equipment net value from about $73.3 billion in Q1 2023 to $86.3 billion in Q2 2025, indicating ongoing capital investment for infrastructure and growth.
Consistent dividend payments with a cash dividend of $0.93 per share in Q2 2025, showing management's commitment to shareholder returns.
Net debt management includes repayment and issuance activities, with significant repayments of $2.9 billion and issuances of $2.6 billion in Q2 2025, highlighting active balance sheet management.
Total liabilities have increased moderately from about $69 billion at the end of 2022 to approximately $76.8 billion in mid-2025, reflecting debt financing of investments but warranting close monitoring.
Net cash from investing activities remains negative consistently (e.g., -$3.2 billion in Q2 2025), driven by capital expenditure and investments, which although growth-focused, impacts free cash flow.

Summary:

American Electric Power has demonstrated solid financial growth in revenues and earnings, supported by ongoing capital investments in property, plant, and equipment. Operating cash flow remains strong, enabling the company to fund its investments and maintain dividends. The issuance of equity has supplemented capital needs, while the management of debt appears active yet balance sheet leverage is rising. Negative free cash flow from investing reflects investment in future growth, a typical characteristic for utility companies with large infrastructure assets.

Retail investors should appreciate the steady earnings growth, improving margins, and dividend stability, while monitoring the company's increasing liabilities and capital expenditure commitments which may pressure cash flows in the medium term.

08/08/25 06:01 PMAI Generated. May Contain Errors.

Frequently Asked Questions About American Electric Power's Financials

When does American Electric Power's financial year end?

According to the most recent income statement we have on file, American Electric Power's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has American Electric Power's net income changed over the last 10 years?

American Electric Power's net income appears to be on an upward trend, with a most recent value of $2.98 billion in 2024, rising from $1.64 billion in 2014. The previous period was $2.21 billion in 2023. Check out American Electric Power's forecast to explore projected trends and price targets.

What is American Electric Power's operating income?

American Electric Power's total operating income in 2024 was $4.30 billion, based on the following breakdown:

Total Gross Profit: $13.79 billion
Total Operating Expenses: $9.48 billion

How has American Electric Power's revenue changed over the last 10 years?

Over the last 10 years, American Electric Power's total revenue changed from $16.82 billion in 2014 to $19.72 billion in 2024, a change of 17.2%.

How much debt does American Electric Power have?

American Electric Power's total liabilities were at $76.05 billion at the end of 2024, a 6.6% increase from 2023, and a 78.0% increase since 2014.

How much cash does American Electric Power have?

In the past 10 years, American Electric Power's cash and equivalents has ranged from $0.00 in 2017 to $509.40 million in 2022, and is currently $202.90 million as of their latest financial filing in 2024.

How has American Electric Power's book value per share changed over the last 10 years?

Over the last 10 years, American Electric Power's book value per share changed from 30.66 in 2014 to 46.10 in 2024, a change of 50.4%.

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This page (NASDAQ:AEP) was last updated on 8/8/2025 by MarketBeat.com Staff

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American Electric Power (AEP) Financials

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American Electric Power (AEP) Financials

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