American Electric Power (AEP) Financials

$128.87 -0.05 (-0.04%)

Closing price 05/20/2026 04:00 PM Eastern

Extended Trading

$128.60 -0.27 (-0.21%)

As of 04:40 AM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	2,047	611	1,913	1,924	1,921	2,200	2,488	2,307	2,208	2,967	3,580
Consolidated Net Income / (Loss)	2,052	618	1,929	1,931	1,920	2,197	2,488	2,306	2,213	2,976	3,696
Net Income / (Loss) Continuing Operations	1,769	621	1,929	1,931	1,920	2,197	2,488	2,306	2,213	2,976	3,696
Total Pre-Tax Income	2,623	476	2,816	1,974	1,835	2,146	2,512	2,420	2,209	2,843	3,724
Total Operating Income	3,184	1,164	3,525	2,683	2,592	2,988	3,411	3,483	3,556	4,304	5,319
Total Gross Profit	7,660	10,650	7,588	7,430	7,712	7,976	8,778	12,542	12,404	13,785	14,845
Total Revenue	17,201	16,380	15,425	16,196	15,561	14,919	16,792	19,640	18,982	19,721	21,876
Total Cost of Revenue	9,541	5,730	7,837	8,766	7,850	6,942	8,014	7,098	6,578	5,936	7,031
Operating Cost of Revenue	9,541	5,730	7,837	8,766	7,850	6,942	8,014	7,098	6,578	5,936	7,031
Total Operating Expenses	4,477	9,486	4,063	4,747	5,119	4,989	5,367	9,059	8,848	9,481	9,526
Selling, General & Admin Expense	-	2,996	-	-	-	-	-	2,878	2,811	3,127	2,950
Depreciation Expense	2,010	1,962	1,997	2,287	2,515	2,683	2,826	3,203	3,090	3,290	3,380
Other Operating Expenses / (Income)	2,298	2,260	2,205	2,390	2,448	2,306	2,529	2,929	2,861	2,921	3,130
Impairment Charge	0.00	2,268	87	71	156	0.00	12	49	86	143	66
Total Other Income / (Expense), net	-700	-688	-709	-709	-758	-842	-899	-1,062	-1,347	-1,461	-1,595
Interest Expense	874	877	895	984	1,073	1,166	1,199	1,208	1,807	1,863	2,026
Interest & Investment Income	174	146	106	133	168	148	140	134	175	211	245
Other Income / (Expense), net	-	43	80	143	147	176	160	12	285	191	186
Income Tax Expense	920	-74	970	115	-13	41	116	5.40	55	-39	129
Other Gains / (Losses), net	65	71	82	73	72	91	92	-109	59	94	101
Net Income / (Loss) Attributable to Noncontrolling Interest	5.20	7.10	16	7.50	-1.30	-3.40	0.00	-1.60	5.00	9.00	116
Basic Earnings per Share	$4.17	$1.24	$3.89	$3.90	$3.89	$4.44	$4.97	$4.51	$4.26	$5.60	$6.70
Weighted Average Basic Shares Outstanding	490.34M	491.50M	491.81M	492.77M	493.69M	495.72M	500.52M	511.84M	518.90M	530.09M	534.54M
Diluted Earnings per Share	$4.17	$1.24	$3.88	$3.90	$3.88	$4.42	$4.96	$4.49	$4.24	$5.58	$6.66
Weighted Average Diluted Shares Outstanding	490.57M	491.66M	492.61M	493.76M	495.31M	497.23M	501.78M	513.48M	520.21M	531.34M	537.47M
Weighted Average Basic & Diluted Shares Outstanding	490.90M	492.70M	491.70M	552.65M	59.40T	51.87T	-	565.73M	578.05M	584.78M	592.73M
Cash Dividends to Common per Share	$2.15	$2.27	$2.39	$2.53	$2.71	$2.84	$3.00	$3.17	$3.37	$3.57	$3.74

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	954	-	1,003	340	960	664	800	1,226	972	582	874
Consolidated Net Income / (Loss)	958	-	1,006	343	962	666	802	1,288	1,000	605	903
Net Income / (Loss) Continuing Operations	958	-	1,006	343	962	666	802	1,288	1,000	605	903
Total Pre-Tax Income	1,001	-	839	324	982	698	889	1,017	1,118	700	922
Total Operating Income	1,353	-	1,173	684	1,352	1,096	1,284	1,399	1,521	1,114	1,360
Total Gross Profit	2,865	-	3,450	3,211	3,761	4,987	3,610	3,546	4,030	3,659	3,902
Total Revenue	5,342	-	5,026	4,579	5,420	4,696	5,463	5,087	6,010	5,315	6,020
Total Cost of Revenue	2,477	-	1,576	1,369	1,659	-290	1,853	1,541	1,980	1,657	2,118
Operating Cost of Revenue	2,477	-	1,576	1,369	1,659	-290	1,853	1,541	1,980	1,657	2,118
Total Operating Expenses	1,512	-	2,277	2,527	2,409	3,891	2,326	2,146	2,509	2,545	2,542
Selling, General & Admin Expense	-	-	762	817	806	-	752	538	798	862	750
Depreciation Expense	792	-	787	822	853	828	833	853	880	814	907
Other Operating Expenses / (Income)	719	-	728	745	751	698	741	756	831	802	854
Impairment Charge	-	-	-	143	0.00	-	0.00	0.00	0.00	-	31
Total Other Income / (Expense), net	-352	-	-333	-360	-370	-398	-395	-382	-404	-415	-438
Interest Expense	470	-	436	466	499	463	495	490	509	533	552
Interest & Investment Income	51	-	44	55	54	58	57	57	59	72	70
Other Income / (Expense), net	67	-	59	51	75	6.90	43	50	47	47	44
Income Tax Expense	64	-	-142	6.70	38	59	125	-251	139	116	44
Other Gains / (Losses), net	21	-	25	25	17	27	38	21	21	21	25
Net Income / (Loss) Attributable to Noncontrolling Interest	4.60	-	2.60	2.20	2.10	1.80	2.00	63	28	23	29
Basic Earnings per Share	$1.83	-	$1.91	$0.64	$1.80	$1.25	$1.50	$2.29	$1.82	$1.09	$1.61
Weighted Average Basic Shares Outstanding	520.46M	518.90M	526.55M	528.90M	532.21M	530.09M	533.39M	534.28M	534.87M	534.54M	542.08M
Diluted Earnings per Share	$1.83	-	$1.90	$0.64	$1.80	$1.24	$1.50	$2.29	$1.81	$1.06	$1.60
Weighted Average Diluted Shares Outstanding	521.44M	520.21M	527.60M	530.14M	533.60M	531.34M	534.66M	536.43M	537.99M	537.47M	547.05M
Weighted Average Basic & Diluted Shares Outstanding	-	578.05M	-	583.99M	584.43M	584.78M	586.06M	586.66M	587.13M	592.73M	595.97M
Cash Dividends to Common per Share	$0.83	$0.88	$0.88	$0.88	-	-	$0.93	$0.93	-	-	$0.95

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	5.30	-23	9.10	-393	556	139	2,532	105	-178	-133	22
Net Cash From Operating Activities	4,819	4,519	4,270	4,799	3,920	4,037	3,840	5,288	5,012	6,804	6,944
Net Cash From Continuing Operating Activities	4,749	4,522	4,270	4,799	3,920	4,037	3,841	5,288	5,012	6,804	6,944
Net Income / (Loss) Continuing Operations	1,769	621	1,929	1,931	1,920	2,197	2,488	2,306	2,213	2,976	3,696
Consolidated Net Income / (Loss)	2,052	618	1,929	1,931	1,920	2,197	2,488	2,306	2,213	2,976	3,696
Depreciation Expense	2,010	1,962	1,997	2,287	2,515	2,683	2,826	3,203	3,090	3,290	3,380
Amortization Expense	93	110	100	55	15	44	223	83	97	103	109
Non-Cash Adjustments To Reconcile Net Income	157	2,376	-252	14	-256	-328	-2,163	225	-353	-287	-525
Changes in Operating Assets and Liabilities, net	721	-547	497	512	-275	-559	467	-529	-35	722	284
Net Cash From Investing Activities	-4,024	-5,047	-3,656	-6,354	-6,226	-6,305	-6,434	-7,752	-6,267	-7,596	-11,939
Net Cash From Continuing Investing Activities	-4,573	-5,047	-3,656	-6,354	-6,226	-6,305	-7,226	-7,752	-6,267	-7,596	-11,939
Purchase of Property, Plant & Equipment	-5.30	-108	0.00	0.00	0.00	0.00	-1,438	-	-155	-399	-3,453
Purchase of Investments	-2,283	-3,002	-2,315	-2,068	-1,576	-1,679	-1,955	-2,784	-2,864	-2,923	-2,981
Sale of Property, Plant & Equipment	-	-	2,160	-	-	-	119	218	1,341	362	25
Divestitures	-	-	-	-	-	-	-	0.00	0.00	114	0.00
Sale and/or Maturity of Investments	2,218	2,958	2,256	2,010	1,494	1,644	1,901	2,744	2,795	2,878	2,935
Other Investing Activities, net	-4,503	-4,894	-5,758	-6,296	-6,144	-6,271	-5,853	-7,929	-7,384	-7,628	-8,465
Net Cash From Financing Activities	-789	504	-605	1,162	2,863	2,407	2,607	2,569	1,077	659	5,017
Net Cash From Continuing Financing Activities	-662	504	-605	1,162	2,863	2,407	5,918	2,569	1,077	659	5,017
Repayment of Debt	-2,575	-1,917	-3,279	-2,808	-389	-3,246	-4,290	-1,787	-4,628	-3,765	-4,993
Payment of Dividends	-1,059	-1,121	-1,192	-1,256	-1,350	-1,425	975	-1,645	-1,760	-1,904	-2,116
Issuance of Debt	2,891	3,508	3,854	5,151	4,537	7,023	7,880	5,484	6,533	5,841	8,581
Issuance of Common Equity	82	34	12	74	65	155	601	827	1,000	552	3,558
Other Financing Activities, net	-	-	-	0.00	0.00	-100	753	-310	-68	-65	-13

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	322	-294	-97	-34	146	-148	46	-13	828	-839	71
Net Cash From Operating Activities	1,906	1,225	1,442	1,462	2,382	1,519	1,450	1,221	2,460	1,813	1,519
Net Cash From Continuing Operating Activities	1,906	1,337	1,442	1,694	1,952	1,727	1,450	1,221	2,460	1,813	1,519
Net Income / (Loss) Continuing Operations	958	338	1,006	343	962	666	802	1,288	1,000	605	903
Consolidated Net Income / (Loss)	958	338	1,006	343	962	666	802	1,288	1,000	605	903
Depreciation Expense	792	781	787	822	853	828	833	853	880	814	907
Non-Cash Adjustments To Reconcile Net Income	373	-978	-133	373	130	-791	-145	272	242	-893	-147
Changes in Operating Assets and Liabilities, net	-389	1,473	-218	-145	-80	1,221	-40	-1,192	338	1,179	-144
Net Cash From Investing Activities	-224	-1,777	-1,669	-1,580	-1,634	-2,713	-2,102	-3,245	-2,402	-4,190	-3,569
Net Cash From Continuing Investing Activities	-524	-1,623	-1,669	-1,580	-1,406	-2,827	-2,102	-3,245	-2,402	-4,190	-3,569
Purchase of Property, Plant & Equipment	-	-	-	-	-	-	0.00	-	-298	-1,796	-965
Purchase of Investments	-964	-664	-590	-600	-1,208	-525	-603	-734	-1,071	-574	-575
Sale and/or Maturity of Investments	934	655	573	585	1,186	535	587	725	1,038	586	555
Other Investing Activities, net	-1,675	-1,774	-1,766	-1,565	-1,863	-2,834	-2,086	-1,877	-2,084	-2,418	-2,584
Net Cash From Financing Activities	-1,360	259	130	85	-602	1,046	698	2,011	770	1,538	2,121
Net Cash From Continuing Financing Activities	-1,360	259	130	85	-602	1,046	698	2,011	770	1,538	2,121
Repayment of Debt	-1,060	-2,015	-663	-965	-472	-823	255	-2,918	-1,824	-506	-660
Payment of Dividends	-430	-467	-467	-469	-471	-497	-501	-500	-569	-547	-555
Issuance of Debt	-791	2,768	1,237	1,103	269	2,392	882	2,602	3,086	2,012	2,906
Issuance of Common Equity	882	40	41	435	37	39	75	2,839	56	588	358
Other Financing Activities, net	-	-	-17	-19	-	-	-13	-13	21	-9.00	72

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	61,683	63,468	44,184	68,803	75,892	80,757	87,669	93,403	96,684	103,078	114,460
Total Current Assets	4,072	6,034	2,291	4,114	4,078	4,352	7,809	6,776	6,082	5,789	6,052
Cash & Equivalents	176	211	-	234	247	393	403	509	330	203	197
Restricted Cash	0.00	193	198	210	186	46	48	47	49	43	71
Short-Term Investments	387	139	162	159	203	201	220	188	214	215	220
Accounts Receivable	1,641	1,917	1,146	1,927	1,705	1,843	1,942	2,668	2,447	2,632	2,867
Inventories, net	1,339	967	388	921	1,169	1,310	989	1,350	1,880	1,715	1,622
Prepaid Expenses	172	326	-	209	156	127	130	255	274	287	212
Current Deferred & Refundable Income Taxes	-	-	-	-	86	185	122	99	156	38	85
Other Current Assets	357	331	398	454	326	247	1,036	1,659	732	656	778
Plant, Property, & Equipment, net	46,133	45,639	40,629	55,099	60,138	63,902	66,001	73,339	76,693	82,416	92,374
Plant, Property & Equipment, gross	65,481	62,037	40,629	73,085	79,146	84,313	86,806	97,021	101,246	108,602	120,579
Accumulated Depreciation	19,348	16,397	-	17,986	19,008	20,411	20,805	23,682	24,553	26,186	28,205
Total Noncurrent Assets	11,478	11,795	1,264	9,590	11,676	12,504	13,858	13,289	13,909	14,873	16,034
Goodwill	53	53	53	53	53	53	53	53	53	53	53
Other Noncurrent Operating Assets	11,425	11,742	1,211	9,537	11,624	12,452	13,806	13,236	13,856	14,820	15,981
Total Liabilities & Shareholders' Equity	61,683	63,468	14,086	68,803	75,892	80,757	87,669	93,403	96,684	103,078	114,460
Total Liabilities	43,778	46,048	4,331	49,635	55,871	59,938	64,945	69,235	71,356	76,054	82,204
Total Current Liabilities	7,109	9,498	2,008	8,649	10,299	9,927	12,427	13,266	11,584	13,009	13,314
Short-Term Debt	2,632	4,591	1,639	3,609	4,437	4,565	4,768	6,599	5,321	5,859	4,702
Accounts Payable	1,418	1,689	0.00	1,874	2,086	1,710	2,055	2,671	2,033	2,638	3,429
Customer Deposits	347	343	357	412	366	336	322	409	424	455	507
Current Deferred & Payable Income Tax Liabilities	979	1,048	-	1,218	1,358	1,476	1,586	1,715	1,800	1,922	2,002
Other Current Liabilities	1,392	1,356	-	1,246	1,488	1,331	1,445	1,423	1,596	1,682	2,130
Other Current Nonoperating Liabilities	341	471	12	290	564	562	2,253	452	410	453	544
Total Noncurrent Liabilities	36,670	36,550	2,324	40,986	45,571	50,011	52,519	55,969	59,772	63,045	68,890
Long-Term Debt	17,741	17,378	0.00	21,648	25,127	28,986	31,301	34,315	37,653	39,308	44,128
Asset Retirement Reserve & Litigation Obligation	5,543	5,582	1,926	10,828	10,674	10,848	11,363	10,995	11,155	11,875	11,918
Noncurrent Deferred & Payable Income Tax Liabilities	11,733	11,884	-	7,087	7,588	8,241	8,203	8,897	9,416	9,972	10,951
Noncurrent Employee Benefit Liabilities	583	614	398	377	466	336	328	257	242	361	232
Other Noncurrent Operating Liabilities	1,070	1,091	-	1,046	1,716	1,599	1,324	1,505	1,307	1,529	1,661
Commitments & Contingencies	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	17,905	17,420	9,755	19,059	19,913	20,775	22,680	24,122	25,286	26,986	32,218
Total Preferred & Common Equity	17,892	17,397	18,287	19,028	19,632	20,551	22,433	23,893	25,247	26,944	31,138
Total Common Equity	17,892	17,397	9,728	19,028	19,632	20,551	22,433	23,893	25,247	26,944	31,138
Common Stock	9,621	9,661	9,728	9,824	9,879	9,948	10,581	11,464	12,502	13,078	15,661
Retained Earnings	8,398	7,892	-	9,325	9,901	10,688	11,667	12,346	12,800	13,869	15,441
Accumulated Other Comprehensive Income / (Loss)	-127	-156	-	-120	-148	-85	185	84	-56	-3.00	36
Noncontrolling Interest	13	23	27	31	281	224	247	229	39	42	1,080

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	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	94,518	96,002	95,126	96,684	97,745	99,623	100,119	104,395	107,779	110,254	117,776
Total Current Assets	7,798	8,041	6,737	6,082	5,850	6,653	6,021	5,937	6,322	6,860	6,623
Cash & Equivalents	344	305	353	330	231	203	246	257	227	1,068	306
Restricted Cash	50	46	54	49	51	45	53	35	51	39	33
Short-Term Investments	195	203	211	214	217	226	229	207	212	225	210
Accounts Receivable	2,304	2,386	2,565	2,447	2,415	2,652	2,597	2,618	2,797	2,833	2,970
Inventories, net	1,457	1,682	1,720	1,880	1,770	1,763	1,686	1,582	1,622	1,586	1,665
Prepaid Expenses	341	310	323	274	373	411	448	325	284	261	385
Current Deferred & Refundable Income Taxes	141	192	160	156	89	171	125	67	112	60	214
Other Current Assets	1,571	1,536	1,350	732	703	829	636	847	1,017	789	840
Plant, Property, & Equipment, net	73,347	74,681	75,821	76,693	77,796	78,860	80,074	83,563	86,337	88,018	94,854
Plant, Property & Equipment, gross	96,708	98,416	99,999	101,246	102,833	104,252	105,927	110,175	113,793	115,890	123,307
Accumulated Depreciation	23,361	23,734	24,177	24,553	25,037	25,392	25,853	26,612	27,456	27,872	28,453
Total Noncurrent Assets	13,373	13,279	12,568	24,191	14,099	14,109	24,906	14,895	15,120	15,376	16,299
Goodwill	53	53	53	53	53	53	53	53	53	53	53
Other Noncurrent Operating Assets	13,320	13,227	12,515	24,139	14,047	14,057	24,854	14,843	15,067	15,323	16,246
Total Liabilities & Shareholders' Equity	94,518	96,002	95,126	96,684	97,745	99,623	100,119	104,395	107,779	110,254	117,776
Total Liabilities	70,494	71,814	69,701	71,356	71,849	73,390	73,395	76,984	76,760	78,714	84,747
Total Current Liabilities	12,622	13,267	11,278	11,584	10,907	10,163	10,648	14,242	11,443	9,998	12,594
Short-Term Debt	6,527	7,248	5,504	5,321	4,936	3,754	4,486	7,525	4,714	3,056	4,259
Accounts Payable	2,269	2,434	2,259	2,033	1,991	2,332	2,266	2,381	2,714	2,807	3,148
Customer Deposits	390	382	380	424	436	442	411	468	454	499	521
Current Deferred & Payable Income Tax Liabilities	1,600	1,367	1,201	1,800	1,676	1,513	1,237	1,797	1,528	1,257	1,888
Other Current Liabilities	1,211	1,252	1,331	1,481	1,253	1,553	1,567	1,483	1,554	1,773	2,149
Other Current Nonoperating Liabilities	624	584	604	526	614	570	681	589	479	606	629
Total Noncurrent Liabilities	57,872	58,547	58,423	59,772	60,943	63,227	62,747	62,742	65,316	68,716	72,153
Long-Term Debt	36,239	36,762	36,716	37,653	38,637	39,990	39,148	38,811	41,313	44,239	46,850
Asset Retirement Reserve & Litigation Obligation	10,973	11,001	10,812	11,155	11,062	11,820	12,054	11,846	11,599	11,967	11,837
Noncurrent Deferred & Payable Income Tax Liabilities	8,989	9,158	9,267	9,416	9,662	9,786	9,959	10,199	10,522	10,714	11,249
Noncurrent Employee Benefit Liabilities	247	249	238	242	231	227	217	358	271	268	245
Other Noncurrent Operating Liabilities	1,424	1,377	1,390	1,307	1,350	1,404	1,370	1,528	1,612	1,528	1,972
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	47	51	61	51
Total Equity & Noncontrolling Interests	23,968	24,124	25,350	25,286	25,844	26,176	26,659	27,364	30,968	31,479	32,978
Total Preferred & Common Equity	23,738	23,901	25,310	25,247	25,803	26,135	26,617	27,321	29,871	30,389	31,808
Total Common Equity	23,738	23,901	25,310	25,247	25,803	26,135	26,617	27,321	29,871	30,389	31,808
Common Stock	11,493	11,532	12,421	12,502	12,528	12,964	13,004	13,131	14,987	15,048	15,991
Retained Earnings	12,314	12,406	12,930	12,800	13,338	13,211	13,701	14,169	14,897	15,369	15,795
Accumulated Other Comprehensive Income / (Loss)	-68	-36	-41	-56	-62	-40	-87	20	-13	-28	22
Noncontrolling Interest	230	222	40	39	40	41	41	43	1,097	1,090	1,170

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.26%	-4.77%	-5.83%	5.00%	-3.92%	-4.13%	12.56%	16.96%	-3.35%	3.89%	10.93%
EBITDA Growth	154.33%	-37.97%	73.89%	-9.39%	4.62%	11.51%	9.83%	-38.69%	1.68%	17.55%	14.02%
EBIT Growth	61.11%	-62.08%	198.66%	-21.63%	-3.06%	15.51%	12.88%	9.00%	1.04%	24.18%	22.47%
NOPAT Growth	67.57%	-34.98%	71.93%	9.29%	3.35%	12.29%	11.02%	13.21%	-3.41%	25.80%	17.69%
Net Income Growth	25.29%	-69.89%	212.12%	0.12%	-0.60%	14.42%	13.27%	-7.33%	-4.03%	34.49%	24.19%
EPS Growth	24.85%	-70.26%	212.90%	0.52%	-0.51%	13.92%	12.22%	-9.48%	-5.57%	31.60%	19.35%
Operating Cash Flow Growth	1,399.22%	-6.21%	-5.51%	12.37%	-15.30%	-5.69%	0.18%	-73.59%	-71.42%	0.00%	2.06%
Free Cash Flow Firm Growth	-158,555.29%	625.43%	-172.10%	69.81%	-531.21%	1,931.53%	-91.08%	-1,439.17%	100.18%	118.28%	-1,380.12%
Invested Capital Growth	6.89%	-1.81%	10.11%	7.21%	12.25%	-97.36%	0.00%	0.00%	5.32%	5.97%	12.41%
Revenue Q/Q Growth	0.00%	0.00%	-25.17%	-16.79%	-1.18%	-1.45%	0.00%	0.00%	0.00%	0.00%	2.91%
EBITDA Q/Q Growth	0.00%	50.84%	-45.30%	-11.93%	-2.30%	7.48%	0.00%	0.00%	0.00%	3,561.79%	1.73%
EBIT Q/Q Growth	0.00%	0.00%	-57.18%	-20.84%	-8.32%	14.29%	0.00%	0.00%	0.00%	0.00%	1.07%
NOPAT Q/Q Growth	0.00%	0.00%	-72.55%	-26.26%	-6.03%	18.48%	0.00%	0.00%	0.00%	0.00%	-1.22%
Net Income Q/Q Growth	0.00%	0.00%	-45.45%	477.54%	-9.95%	25.86%	0.00%	0.00%	0.00%	0.00%	-1.62%
EPS Q/Q Growth	0.00%	0.00%	1.57%	-2.01%	-9.98%	25.93%	0.00%	0.00%	0.00%	0.00%	-2.63%
Operating Cash Flow Q/Q Growth	0.00%	-6.21%	-44.13%	-5.52%	-3.60%	5.40%	0.00%	0.00%	0.00%	280.60%	1.25%
Free Cash Flow Firm Q/Q Growth	-101.08%	105.59%	-103.36%	-129.13%	93.46%	981.29%	0.00%	0.00%	0.00%	0.00%	-145.09%
Invested Capital Q/Q Growth	0.00%	2.73%	3,554.62%	1,354.50%	2.15%	-97.69%	0.00%	0.00%	0.00%	-11.32%	3.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.53%	65.02%	49.19%	45.88%	49.56%	53.47%	52.27%	49.20%	50.54%	69.90%	67.86%
EBITDA Margin	30.73%	20.02%	36.97%	31.90%	34.73%	40.40%	39.42%	20.67%	21.74%	39.99%	41.11%
Operating Margin	18.51%	7.11%	22.85%	16.56%	16.66%	20.03%	20.32%	18.80%	19.22%	21.82%	24.31%
EBIT Margin	18.51%	7.37%	23.37%	17.45%	17.60%	21.21%	21.27%	19.82%	20.72%	22.79%	25.16%
Profit (Net Income) Margin	11.93%	3.77%	12.51%	11.92%	12.34%	14.72%	14.82%	11.74%	11.66%	15.09%	16.90%
Tax Burden Percent	78.25%	129.94%	68.49%	97.86%	104.63%	102.36%	99.05%	95.26%	100.18%	104.67%	99.25%
Interest Burden Percent	82.39%	39.40%	78.12%	69.85%	66.99%	67.84%	70.34%	62.18%	56.15%	63.25%	67.65%
Effective Tax Rate	35.06%	-15.50%	34.43%	5.84%	-0.70%	1.89%	4.60%	0.22%	2.47%	-1.38%	3.46%
Return on Invested Capital (ROIC)	5.61%	3.56%	5.89%	5.93%	5.58%	11.54%	0.00%	11.37%	5.35%	6.22%	6.70%
ROIC Less NNEP Spread (ROIC-NNEP)	5.54%	-0.06%	4.40%	3.82%	3.04%	6.74%	0.00%	4.59%	2.13%	3.07%	3.64%
Return on Net Nonoperating Assets (RNNOA)	6.21%	-0.07%	8.31%	7.45%	4.24%	10.21%	0.00%	7.74%	3.61%	5.15%	5.79%
Return on Equity (ROE)	11.82%	3.50%	14.20%	13.37%	9.82%	21.75%	0.00%	19.12%	8.96%	11.37%	12.49%
Cash Return on Invested Capital (CROIC)	-1.05%	5.39%	-3.73%	-1.04%	-5.96%	201.24%	0.00%	-188.63%	0.17%	0.43%	-4.99%
Operating Return on Assets (OROA)	5.25%	1.93%	6.70%	5.00%	3.79%	8.10%	0.00%	4.17%	4.14%	4.50%	5.06%
Return on Assets (ROA)	3.39%	0.99%	3.58%	3.42%	2.65%	5.63%	0.00%	2.47%	2.33%	2.98%	3.40%
Return on Common Equity (ROCE)	11.81%	3.50%	14.17%	13.31%	9.71%	21.13%	0.00%	18.93%	8.91%	11.33%	12.25%
Return on Equity Simple (ROE_SIMPLE)	11.47%	3.55%	10.55%	10.15%	9.78%	0.00%	0.00%	9.65%	8.76%	11.04%	0.00%
Net Operating Profit after Tax (NOPAT)	2,067	1,344	2,311	2,526	2,611	2,931	3,254	3,684	3,559	4,363	5,135
NOPAT Margin	12.02%	8.21%	14.98%	15.60%	16.78%	19.65%	19.38%	18.76%	18.75%	22.12%	23.47%
Net Nonoperating Expense Percent (NNEP)	0.08%	3.62%	1.49%	2.11%	2.53%	4.80%	0.00%	6.78%	3.22%	3.15%	3.06%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	6.05%	6.34%
Cost of Revenue to Revenue	55.47%	34.98%	50.81%	54.12%	50.44%	46.53%	47.73%	50.80%	49.46%	30.10%	32.14%
SG&A Expenses to Revenue	0.00%	18.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.86%	13.49%
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	26.03%	57.91%	26.34%	29.31%	32.90%	33.44%	31.96%	30.40%	31.32%	48.08%	43.55%
Earnings before Interest and Taxes (EBIT)	3,184	1,207	3,605	2,825	2,739	3,164	3,571	3,893	3,933	4,495	5,505
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,286	3,279	5,702	5,167	5,405	6,027	6,620	4,059	4,127	7,888	8,994
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.31	1.52	3.28	1.77	2.24	0.00	0.00	2.05	1.77	1.98	2.16
Price to Tangible Book Value (P/TBV)	1.32	1.52	3.30	1.78	2.25	0.00	0.00	2.05	1.77	1.99	2.16
Price to Revenue (P/Rev)	1.37	1.61	2.07	2.08	2.83	2.66	2.64	2.49	2.35	2.71	3.07
Price to Earnings (P/E)	11.49	43.18	16.69	17.52	22.94	18.06	17.80	19.42	19.41	18.00	18.76
Dividend Yield	5.03%	4.74%	4.13%	4.15%	3.40%	3.92%	3.74%	3.58%	4.28%	3.91%	3.27%
Earnings Yield	8.70%	2.32%	5.99%	5.71%	4.36%	5.54%	5.62%	5.15%	5.15%	5.56%	5.33%
Enterprise Value to Invested Capital (EV/IC)	1.14	1.28	0.81	1.33	1.48	32.28	0.00	1.38	1.28	1.36	1.44
Enterprise Value to Revenue (EV/Rev)	2.52	2.92	2.15	3.61	4.71	2.83	0.00	4.55	4.59	4.98	5.33
Enterprise Value to EBITDA (EV/EBITDA)	8.20	14.59	5.83	11.32	13.57	7.01	0.00	22.00	21.10	12.45	12.96
Enterprise Value to EBIT (EV/EBIT)	13.61	39.62	9.21	20.69	26.78	13.35	0.00	22.93	22.14	21.85	21.18
Enterprise Value to NOPAT (EV/NOPAT)	20.96	35.58	14.37	23.14	28.09	14.41	0.00	24.23	24.47	22.51	22.71
Enterprise Value to Operating Cash Flow (EV/OCF)	8.99	10.58	7.78	12.18	18.05	11.02	0.00	88.03	300.46	14.43	16.79
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	23.53	0.00	0.00	0.00	0.83	0.00	0.00	778.85	328.12	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.14	1.26	0.17	1.32	1.48	11.09	0.00	1.70	1.70	1.67	1.52
Long-Term Debt to Equity	0.99	1.00	0.00	1.13	1.26	0.00	0.00	1.42	1.49	1.45	1.37
Financial Leverage	1.12	1.14	1.89	1.95	1.39	1.52	0.00	1.69	1.69	1.68	1.59
Leverage Ratio	3.49	3.54	3.96	3.91	3.70	3.87	0.00	3.87	3.85	3.82	3.67
Compound Leverage Factor	2.88	1.40	3.09	2.73	2.48	2.62	0.00	2.41	2.16	2.41	2.49
Debt to Total Capital	53.22%	55.77%	14.38%	56.90%	59.67%	91.73%	0.00%	62.91%	62.96%	62.57%	60.25%
Short-Term Debt to Total Capital	6.88%	11.66%	14.38%	8.13%	8.96%	91.73%	0.00%	10.15%	7.79%	8.12%	5.80%
Long-Term Debt to Total Capital	46.35%	44.12%	0.00%	48.77%	50.72%	0.00%	0.00%	52.76%	55.16%	54.45%	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	0.03%	0.06%	0.23%	0.23%	0.70%	8.27%	0.00%	0.35%	0.06%	0.11%	1.33%
Common Equity to Total Capital	46.74%	44.17%	85.38%	42.87%	39.63%	0.00%	0.00%	36.74%	36.99%	37.32%	38.42%
Debt to EBITDA	3.85	6.70	0.29	4.89	5.47	0.41	0.00	10.08	10.41	5.73	5.43
Net Debt to EBITDA	3.75	6.53	0.22	4.77	5.35	0.38	0.00	9.90	10.27	5.67	5.37
Long-Term Debt to EBITDA	3.36	5.30	0.00	4.19	4.65	0.00	0.00	8.45	9.12	4.98	4.91
Debt to NOPAT	9.85	16.34	0.71	10.00	11.32	0.85	0.00	11.10	12.08	10.35	9.51
Net Debt to NOPAT	9.58	15.94	0.55	9.76	11.08	0.78	0.00	10.90	11.91	10.25	9.41
Long-Term Debt to NOPAT	8.58	12.93	0.00	8.57	9.63	0.00	0.00	9.31	10.58	9.01	8.59
Altman Z-Score	0.90	0.77	5.05	0.89	0.88	17.70	0.00	0.87	0.82	0.86	0.95
Noncontrolling Interest Sharing Ratio	0.05%	0.10%	0.18%	0.44%	1.14%	2.82%	0.00%	0.95%	0.54%	0.31%	1.90%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.57	0.64	1.14	0.48	0.40	0.46	0.00	0.51	0.53	0.45	0.45
Quick Ratio	0.31	0.24	0.65	0.27	0.21	0.44	0.00	0.25	0.26	0.23	0.25
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-387	2,032	-1,465	-442	-2,792	51,138	4,563	-61,103	112	299	-3,824
Operating Cash Flow to CapEx	90,915.09%	4,188.42%	0.00%	0.00%	442.53%	0.00%	291.12%	38.38%	17.57%	0.00%	202.57%
Free Cash Flow to Firm to Interest Expense	-0.44	2.32	-1.64	-0.45	-2.60	43.87	3.81	-43.77	0.06	0.16	-1.89
Operating Cash Flow to Interest Expense	5.51	5.15	4.77	4.87	3.79	3.29	3.20	0.73	0.16	3.65	3.43
Operating Cash Flow Less CapEx to Interest Expense	5.51	5.03	7.18	4.87	2.93	3.29	2.10	-1.17	-0.75	3.85	1.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.26	0.29	0.29	0.22	0.38	0.00	0.21	0.20	0.20	0.20
Accounts Receivable Turnover	12.12	9.21	10.07	10.54	8.57	10.96	0.00	7.36	7.42	7.77	7.96
Inventory Turnover	7.18	4.97	11.57	13.40	7.51	0.00	0.00	7.39	5.81	3.30	4.21
Fixed Asset Turnover	0.38	0.36	0.36	0.34	0.27	0.00	0.00	0.27	0.25	0.25	0.25
Accounts Payable Turnover	7.13	3.69	0.00	0.00	3.96	0.00	0.00	3.74	3.99	2.54	2.32
Days Sales Outstanding (DSO)	30.12	39.63	36.24	34.62	42.59	33.32	0.00	49.58	49.18	47.00	45.88
Days Inventory Outstanding (DIO)	50.81	73.46	31.55	27.25	48.60	0.00	0.00	49.40	62.78	110.51	86.62
Days Payable Outstanding (DPO)	51.19	98.94	0.00	0.00	92.07	0.00	0.00	97.72	91.42	143.57	157.48
Cash Conversion Cycle (CCC)	29.73	14.16	67.79	61.87	-0.88	33.32	0.00	1.27	20.54	13.94	-24.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	38,055	37,367	41,144	44,112	49,515	1,308	0.00	64,788	68,234	72,182	81,142
Invested Capital Turnover	0.47	0.43	0.39	0.38	0.33	0.59	0.00	0.61	0.29	0.28	0.29
Increase / (Decrease) in Invested Capital	2,454	-688	3,777	2,968	5,403	-48,206	-1,308	64,788	3,447	4,064	8,959
Enterprise Value (EV)	43,342	47,829	33,221	58,462	73,338	42,226	0.00	89,271	87,073	98,188	116,593
Market Capitalization	23,519	26,379	31,915	33,708	44,063	39,724	44,276	48,872	44,654	53,403	67,171
Book Value per Share	$36.49	$31.57	$17.65	$34.44	$35.48	$0.00	$0.00	$43.28	$44.55	$46.10	$53.03
Tangible Book Value per Share	$36.38	$31.47	$17.55	$34.34	$35.38	($0.10)	$0.00	$43.18	$44.46	$46.01	$52.94
Total Capital	38,278	39,390	11,393	44,386	49,543	2,703	0.00	65,036	68,259	72,191	81,048
Total Debt	20,373	21,969	1,639	25,257	29,564	2,479	0.00	40,913	42,973	45,167	48,830
Total Long-Term Debt	17,741	17,378	0.00	21,648	25,127	0.00	0.00	34,315	37,653	39,308	44,128
Net Debt	19,810	21,427	1,279	24,654	28,929	2,279	0.00	40,169	42,380	44,705	48,342
Capital Expenditures (CapEx)	5.30	108	-2,160	0.00	918	0.00	1,319	2,642	1,649	-362	3,428
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-968	585	1,563	-1,530	-2,420	787	0.00	-636	-774	-1,823	-3,048
Debt-free Net Working Capital (DFNWC)	-404	1,127	1,922	-926	-1,784	987	0.00	108	-181	-1,362	-2,560
Net Working Capital (NWC)	-3,036	-3,464	284	-4,535	-6,221	-1,492	0.00	-6,491	-5,502	-7,221	-7,262
Net Nonoperating Expense (NNE)	15	726	382	595	691	735	766	1,379	1,346	1,387	1,439
Net Nonoperating Obligations (NNO)	20,150	19,947	31,389	24,983	29,536	1,085	0.00	40,665	42,949	45,159	48,924
Total Depreciation and Amortization (D&A)	2,102	2,072	2,097	2,341	2,666	2,864	3,048	166	193	3,393	3,489
Debt-free, Cash-free Net Working Capital to Revenue	-5.62%	3.57%	10.13%	-9.44%	-15.55%	5.27%	0.00%	-3.24%	-4.08%	-9.24%	-13.93%
Debt-free Net Working Capital to Revenue	-2.35%	6.88%	12.46%	-5.72%	-11.47%	6.62%	0.00%	0.55%	-0.95%	-6.90%	-11.70%
Net Working Capital to Revenue	-17.65%	-21.15%	1.84%	-28.00%	-39.98%	-10.00%	0.00%	-33.05%	-28.98%	-36.61%	-33.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.17	$1.24	$3.89	$3.90	$3.89	$4.44	$0.00	$0.00	$4.26	$5.60	$6.70
Adjusted Weighted Average Basic Shares Outstanding	490.34M	491.50M	491.81M	492.77M	493.69M	495.72M	0.00	0.00	518.90M	530.09M	534.54M
Adjusted Diluted Earnings per Share	$4.17	$1.24	$3.88	$3.90	$3.88	$4.42	$0.00	$0.00	$4.24	$5.58	$6.66
Adjusted Weighted Average Diluted Shares Outstanding	490.57M	491.66M	492.61M	493.76M	495.31M	497.23M	0.00	0.00	520.21M	531.34M	537.47M
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	550.45M	551.11M	551.41M	552.65M	59.40T	51.87T	0.00	0.00	578.05M	584.78M	592.73M
Normalized Net Operating Profit after Tax (NOPAT)	2,067	2,402	2,220	2,592	1,924	2,931	3,266	3,733	3,642	3,112	5,198
Normalized NOPAT Margin	12.02%	14.67%	14.39%	16.01%	12.36%	19.65%	19.45%	19.01%	19.19%	15.78%	23.76%
Pre Tax Income Margin	15.25%	2.90%	18.26%	12.19%	11.79%	14.39%	14.96%	12.32%	11.64%	14.42%	17.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.64	1.38	4.03	2.87	2.55	2.71	2.98	2.79	2.18	2.41	2.72
NOPAT to Interest Expense	2.37	1.53	2.58	2.57	2.43	2.51	2.71	2.64	1.97	2.34	2.53
EBIT Less CapEx to Interest Expense	3.64	1.25	6.44	2.87	1.70	2.71	1.88	0.90	1.26	2.61	1.03
NOPAT Less CapEx to Interest Expense	2.36	1.41	5.00	2.57	1.58	2.51	1.61	0.75	1.06	2.54	0.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	51.60%	181.39%	61.79%	65.01%	70.32%	64.87%	-39.17%	-71.50%	-79.74%	63.98%	57.25%
Augmented Payout Ratio	51.60%	181.39%	61.79%	65.01%	70.32%	64.87%	-39.17%	-71.50%	-79.74%	63.98%	57.25%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	592,730,226.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	592,730,226.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.47
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	4.73%	1.47%	0.00%	8.71%	11.09%	10.89%	13.19%	10.20%
EBITDA Growth	0.00%	-4.28%	39.31%	-7.69%	3.13%	0.00%	7.04%	47.93%	7.38%	2.26%	6.99%
EBIT Growth	0.00%	0.00%	58.88%	-22.23%	0.43%	0.00%	7.78%	97.33%	9.91%	5.26%	5.80%
NOPAT Growth	0.00%	0.00%	99.82%	-19.02%	2.63%	0.00%	-19.54%	160.44%	2.52%	-7.35%	17.37%
Net Income Growth	0.00%	0.00%	0.00%	-33.64%	0.35%	0.00%	-20.23%	276.15%	4.01%	-9.14%	12.59%
EPS Growth	0.00%	0.00%	0.00%	-36.63%	-1.64%	0.00%	-21.05%	257.81%	0.56%	-14.52%	6.67%
Operating Cash Flow Growth	0.00%	207.82%	0.00%	0.00%	24.94%	0.00%	0.54%	-16.48%	13.21%	4.99%	4.76%
Free Cash Flow Firm Growth	0.00%	54.59%	95.70%	0.00%	0.00%	0.00%	-13.17%	91.93%	105.76%	-162.34%	87.51%
Invested Capital Growth	0.00%	5.14%	6.35%	0.00%	0.00%	5.97%	6.11%	10.49%	-4.04%	12.41%	14.06%
Revenue Q/Q Growth	22.17%	0.00%	0.00%	0.00%	18.36%	-13.35%	16.33%	-6.89%	18.15%	-11.57%	13.26%
EBITDA Q/Q Growth	48.06%	-84.32%	0.00%	-19.33%	65.41%	-40.75%	41.64%	6.56%	6.31%	-19.32%	17.03%
EBIT Q/Q Growth	50.42%	-100.00%	0.00%	-40.36%	94.24%	-22.71%	20.37%	9.20%	8.19%	-25.96%	20.95%
NOPAT Q/Q Growth	53.13%	-100.00%	0.00%	-51.14%	94.08%	-22.78%	9.89%	58.14%	-23.60%	-30.21%	39.25%
Net Income Q/Q Growth	85.68%	0.00%	0.00%	0.00%	180.79%	-30.76%	20.47%	60.60%	-22.36%	-39.50%	49.21%
EPS Q/Q Growth	81.19%	0.00%	0.00%	0.00%	181.25%	-31.11%	20.97%	52.67%	-20.96%	-41.44%	50.94%
Operating Cash Flow Q/Q Growth	0.00%	-35.76%	0.00%	0.00%	0.00%	-36.23%	-4.52%	-15.79%	101.43%	-26.28%	-16.23%
Free Cash Flow Firm Q/Q Growth	0.00%	-105.33%	0.00%	-2,380.99%	-15.99%	96.18%	-2.94%	92.34%	182.87%	-273.91%	-13.16%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.19%	16.74%	-11.32%	2.29%	4.33%	1.40%	3.88%	3.79%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.63%	0.00%	53.48%	52.27%	54.52%	106.18%	66.09%	69.70%	67.05%	68.84%	64.82%
EBITDA Margin	46.73%	0.00%	40.16%	33.99%	47.50%	32.48%	39.55%	45.26%	40.72%	37.15%	38.39%
Operating Margin	25.33%	0.00%	23.33%	14.93%	24.94%	23.33%	23.51%	27.50%	25.31%	20.96%	22.59%
EBIT Margin	26.59%	0.00%	24.50%	16.04%	26.32%	23.48%	24.29%	28.49%	26.09%	21.84%	23.32%
Profit (Net Income) Margin	17.94%	0.00%	20.01%	7.48%	17.74%	14.18%	14.68%	25.33%	16.64%	11.39%	15.00%
Tax Burden Percent	95.72%	0.00%	119.83%	105.71%	97.94%	95.44%	90.19%	126.70%	89.48%	86.48%	97.94%
Interest Burden Percent	70.49%	0.00%	68.16%	44.12%	68.83%	63.28%	67.03%	70.16%	71.30%	60.29%	65.67%
Effective Tax Rate	6.41%	0.00%	-16.91%	2.07%	3.82%	8.38%	14.11%	-24.68%	12.41%	16.53%	4.77%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	6.01%	5.68%	9.66%	5.91%	4.99%	6.11%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	5.24%	5.01%	8.64%	5.25%	4.30%	5.30%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	8.80%	8.48%	13.53%	9.14%	6.84%	8.57%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	0.00%	14.81%	14.16%	23.19%	15.05%	11.83%	14.67%
Cash Return on Invested Capital (CROIC)	0.00%	0.21%	-6.15%	0.00%	0.00%	0.43%	-0.26%	-2.92%	10.64%	-4.99%	-6.40%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	4.64%	4.84%	5.68%	5.27%	4.39%	4.71%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	2.80%	2.93%	5.05%	3.36%	2.29%	3.03%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	0.00%	14.77%	14.12%	22.70%	14.75%	11.61%	14.35%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.15%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	1,267	0.00	1,371	670	1,300	1,004	1,103	1,744	1,333	930	1,295
NOPAT Margin	23.71%	0.00%	27.28%	14.63%	23.98%	21.37%	20.19%	34.29%	22.17%	17.50%	21.51%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.86%	1.50%	1.24%	0.77%	0.67%	1.02%	0.66%	0.69%	0.80%
Return On Investment Capital (ROIC_SIMPLE)	-	0.00%	-	-	-	1.39%	1.50%	2.27%	1.69%	1.15%	1.54%
Cost of Revenue to Revenue	46.37%	0.00%	46.52%	47.73%	45.48%	-6.18%	33.91%	30.30%	32.95%	31.16%	35.18%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.77%	10.57%	13.27%	16.22%	12.46%
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	28.30%	0.00%	30.15%	37.33%	29.59%	82.85%	42.58%	42.19%	41.74%	47.87%	42.23%
Earnings before Interest and Taxes (EBIT)	1,420	0.00	1,231	734	1,427	1,103	1,327	1,449	1,568	1,161	1,404
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,496	392	2,018	1,556	2,574	1,525	2,161	2,302	2,448	1,975	2,311
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.86	0.00	2.25	1.98	2.34	2.04	2.17	2.16	2.44
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.86	0.00	2.26	1.99	2.34	2.04	2.18	2.16	2.45
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	2.71	3.17	2.94	3.10	3.07	3.46
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	18.00	23.10	16.66	18.02	18.76	21.26
Dividend Yield	4.60%	4.40%	4.05%	3.99%	3.43%	3.91%	3.31%	3.54%	3.31%	3.27%	2.87%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	5.56%	4.33%	6.00%	5.55%	5.33%	4.70%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.31	0.00	1.27	1.36	1.49	1.40	1.45	1.44	1.54
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	4.98	5.45	5.20	5.32	5.33	5.77
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	478.48	12.45	13.85	12.39	12.79	12.96	14.33
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	21.85	23.92	20.26	20.77	21.18	23.20
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	22.51	27.00	20.78	21.76	22.71	24.31
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	57.65	14.43	16.12	16.36	16.49	16.79	18.46
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	328.12	0.00	0.00	13.34	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	1.70	1.69	1.67	1.64	1.67	1.69	1.48	1.50	1.52	1.55
Long-Term Debt to Equity	0.00	1.49	1.50	1.53	1.47	1.45	1.42	1.33	1.40	1.37	1.42
Financial Leverage	0.00	1.69	1.71	1.66	2.05	1.68	1.69	1.57	1.74	1.59	1.62
Leverage Ratio	0.00	3.84	3.86	3.81	3.76	3.82	3.80	3.63	3.61	3.67	3.68
Compound Leverage Factor	0.00	0.00	2.63	1.68	2.59	2.41	2.54	2.54	2.58	2.22	2.41
Debt to Total Capital	0.00%	62.92%	62.77%	62.56%	62.07%	62.57%	62.83%	59.74%	59.99%	60.25%	60.74%
Short-Term Debt to Total Capital	0.00%	7.79%	7.11%	5.37%	6.38%	8.12%	10.20%	6.12%	3.88%	5.80%	5.06%
Long-Term Debt to Total Capital	0.00%	55.13%	55.66%	57.19%	55.69%	54.45%	52.63%	53.62%	56.12%	54.45%	55.68%
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	0.00%	0.12%	0.06%	0.06%	0.06%	0.11%	0.12%	1.49%	1.46%	1.33%	1.45%
Common Equity to Total Capital	0.00%	36.96%	37.17%	37.38%	37.87%	37.32%	37.05%	38.77%	38.55%	38.42%	37.80%
Debt to EBITDA	0.00	6.11	0.00	214.75	202.57	5.73	5.85	5.31	5.35	5.43	5.66
Net Debt to EBITDA	0.00	6.03	0.00	212.42	200.12	5.67	5.78	5.25	5.20	5.37	5.60
Long-Term Debt to EBITDA	0.00	5.36	0.00	196.32	181.74	4.98	4.90	4.76	5.00	4.91	5.18
Debt to NOPAT	0.00	12.39	0.00	0.00	0.00	10.35	11.39	8.90	9.10	9.51	9.60
Net Debt to NOPAT	0.00	12.22	0.00	0.00	0.00	10.25	11.27	8.80	8.84	9.41	9.49
Long-Term Debt to NOPAT	0.00	10.86	0.00	0.00	0.00	9.01	9.54	7.99	8.51	8.59	8.80
Altman Z-Score	0.00	0.00	0.57	0.00	0.67	0.75	0.83	0.85	0.90	0.83	0.91
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.54%	0.15%	0.16%	0.31%	0.24%	2.08%	2.05%	1.90%	2.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.53	0.54	0.65	0.57	0.45	0.42	0.55	0.69	0.45	0.53
Quick Ratio	0.00	0.26	0.26	0.30	0.29	0.23	0.22	0.28	0.41	0.25	0.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-3,331	-2,783	-69,050	-80,094	-3,060	-3,150	-5,571	4,617	-8,029	-9,086
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	54,235.71%	0.00%	0.00%	825.40%	101.68%	157.41%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-6.39	-148.30	-160.57	-6.61	-6.36	-11.38	9.08	-15.06	-16.46
Operating Cash Flow to Interest Expense	4.05	0.00	0.00	0.00	4.77	3.28	2.93	2.49	4.84	3.40	2.75
Operating Cash Flow Less CapEx to Interest Expense	4.05	0.00	0.00	0.00	5.51	3.28	2.93	2.49	4.25	0.06	1.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.20	0.00	0.00	0.00	0.20	0.20	0.20	0.20	0.20	0.20
Accounts Receivable Turnover	0.00	7.42	0.00	0.00	0.00	7.77	8.01	7.59	7.83	7.96	8.03
Inventory Turnover	0.00	4.07	0.00	0.00	0.00	3.30	3.71	3.77	4.10	4.21	4.49
Fixed Asset Turnover	0.00	0.25	0.00	0.00	0.00	0.25	0.25	0.25	0.25	0.25	0.25
Accounts Payable Turnover	0.00	2.80	0.00	0.00	0.00	2.54	2.84	2.53	2.64	2.32	2.64
Days Sales Outstanding (DSO)	0.00	49.18	0.00	0.00	0.00	47.00	45.57	48.12	46.62	45.88	45.46
Days Inventory Outstanding (DIO)	0.00	89.60	0.00	0.00	0.00	110.51	98.47	96.73	89.01	86.62	81.22
Days Payable Outstanding (DPO)	0.00	130.48	0.00	0.00	0.00	143.57	128.41	144.19	138.01	157.48	138.30
Cash Conversion Cycle (CCC)	0.00	8.30	0.00	0.00	0.00	13.94	15.63	0.66	-2.38	-24.99	-11.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	68,119	69,584	69,719	81,394	72,182	73,837	77,035	78,110	81,142	84,218
Invested Capital Turnover	0.00	0.29	0.00	0.00	0.00	0.28	0.28	0.28	0.27	0.29	0.28
Increase / (Decrease) in Invested Capital	0.00	3,331	4,154	69,719	81,394	4,064	4,253	7,315	-3,284	8,959	10,381
Enterprise Value (EV)	0.00	0.00	90,997	0.00	103,065	98,188	109,788	107,494	113,113	116,593	129,476
Market Capitalization	40,889	0.00	47,882	0.00	59,917	53,403	63,861	60,810	66,000	67,171	77,695
Book Value per Share	$0.00	$48.65	$49.00	$49.41	$45.58	$46.10	$51.22	$50.97	$51.80	$53.03	$53.66
Tangible Book Value per Share	$0.00	$48.55	$48.90	$49.32	$45.49	$46.01	$51.12	$50.88	$51.71	$52.94	$53.57
Total Capital	0.00	68,302	69,417	69,920	70,293	72,191	73,747	77,046	78,835	81,048	84,138
Total Debt	0.00	42,973	43,574	43,744	43,634	45,167	46,336	46,027	47,295	48,830	51,109
Total Long-Term Debt	0.00	37,653	38,637	39,990	39,148	39,308	38,811	41,313	44,239	44,128	46,850
Net Debt	0.00	42,380	43,075	43,270	43,106	44,705	45,837	45,537	45,963	48,342	50,560
Capital Expenditures (CapEx)	0.00	-5.80	0.00	0.00	-365	2.80	0.00	0.00	298	1,783	965
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-774	-620	-230	-668	-1,823	-1,279	-898	-1,414	-3,048	-2,261
Debt-free Net Working Capital (DFNWC)	0.00	-181	-121	244	-141	-1,362	-780	-407	-81	-2,560	-1,712
Net Working Capital (NWC)	0.00	-5,502	-5,057	-3,510	-4,627	-7,221	-8,305	-5,121	-3,138	-7,262	-5,971
Net Nonoperating Expense (NNE)	308	0.00	365	327	338	338	301	456	332	325	392
Net Nonoperating Obligations (NNO)	0.00	42,790	43,741	43,544	54,735	45,159	46,427	46,016	46,570	48,924	51,189
Total Depreciation and Amortization (D&A)	1,076	392	787	822	1,148	423	833	853	880	814	907
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-4.08%	0.00%	0.00%	0.00%	-9.24%	-6.35%	-4.35%	-6.65%	-13.93%	-10.08%
Debt-free Net Working Capital to Revenue	0.00%	-0.95%	0.00%	0.00%	0.00%	-6.90%	-3.87%	-1.97%	-0.38%	-11.70%	-7.63%
Net Working Capital to Revenue	0.00%	-28.98%	0.00%	0.00%	0.00%	-36.61%	-41.20%	-24.78%	-14.76%	-33.20%	-26.62%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.91	$0.64	$1.80	$1.25	$1.50	$2.29	$1.82	$1.09	$1.61
Adjusted Weighted Average Basic Shares Outstanding	0.00	518.90M	526.55M	528.90M	532.21M	530.09M	533.39M	534.28M	534.87M	534.54M	542.08M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.90	$0.64	$1.80	$1.24	$1.50	$2.29	$1.81	$1.06	$1.60
Adjusted Weighted Average Diluted Shares Outstanding	0.00	520.21M	527.60M	530.14M	533.60M	531.34M	534.66M	536.43M	537.99M	537.47M	547.05M
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	0.00	578.05M	578.99M	583.99M	584.43M	584.78M	586.06M	586.66M	587.13M	592.73M	595.97M
Normalized Net Operating Profit after Tax (NOPAT)	1,267	0.00	821	809	1,300	1,004	1,103	979	1,333	930	1,325
Normalized NOPAT Margin	23.71%	0.00%	16.33%	17.67%	23.98%	21.37%	20.19%	19.25%	22.17%	17.50%	22.00%
Pre Tax Income Margin	18.74%	0.00%	16.70%	7.08%	18.12%	14.86%	16.28%	19.99%	18.60%	13.17%	15.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.02	0.00	2.83	1.58	2.86	2.38	2.68	2.96	3.08	2.18	2.54
NOPAT to Interest Expense	2.69	0.00	3.15	1.44	2.61	2.17	2.23	3.56	2.62	1.74	2.35
EBIT Less CapEx to Interest Expense	3.02	0.00	2.83	1.58	3.59	2.38	2.68	2.96	2.50	-1.17	0.80
NOPAT Less CapEx to Interest Expense	2.69	0.00	3.15	1.44	3.34	2.16	2.23	3.56	2.03	-1.60	0.60
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	79.56%	0.00%	0.00%	0.00%	63.98%	69.91%	52.94%	54.99%	57.25%	57.15%
Augmented Payout Ratio	0.00%	79.56%	0.00%	0.00%	0.00%	63.98%	69.91%	52.94%	54.99%	57.25%	57.15%

Financials Breakdown Chart

Key Financial Trends

Here are key takeaways from American Electric Power (AEP) using the latest four years of quarterly statements across income, cash flow, and balance sheet data. The bullets highlight notable trends and potential implications for retail investors.

Total revenue has trended higher over the period, rising from about $4.63B in Q4 2022 to approximately $5.32B in Q4 2025, signaling growth in the company’s regulated earnings base.
Net cash from continuing operating activities remained strong and grew in the latest quarter, with about $1.81B in Q4 2025 versus roughly $1.73B in Q4 2024, reflecting solid cash-generating operations.
The company maintains a steady dividend policy, with cash dividends per share of $0.93 in 2025 quarters, delivering an annual per-share cash return around $3.72 and appealing to income-focused investors.
Earnings per share in mid-2025 quarters were robust, with diluted EPS around $2.29 in both Q2 and Q3 2025, underscoring solid profitability against the backdrop of large capital investments.

The gross profit margin has shown some variability. For example, gross profit was about $4.99B in Q4 2024 but about $3.66B in Q4 2025, indicating year-to-year margin pressure or mix changes that investors may want to monitor.
The balance sheet shows a very large asset base (PPE, cash, and investments) and substantial liabilities. PPE gross sits around $115–116B in mid-2025 periods, with total assets near $110–111B and total liabilities around $78–79B, indicating a substantial but regulated asset-backed load.
Cash on hand (cash and equivalents) generally ranges from about $1.0B to $1.7B across recent quarters, which is solid for a regulated utility but modest relative to the scale of capex and debt in the business.

Investing cash outflows are large and persistent, with net cash from investing activities in Q4 2025 posting about a $4.19B outflow, and sizable negative investing cash flows also evident in prior quarters (e.g., Q3 2025 around $2.40B, Q2 2025 around $3.24B). This reflects ongoing capital expenditure and asset acquisitions tied to growth and regulatory asset bases.
Leverage has risen notably. Long-term debt climbed from about $41.3B in mid-2025 (Q2 2025) to roughly $44.2B by Q3 2025, signaling higher indebtedness tied to capex but raising interest expense risk and leverage considerations for investors.
Quarterly cash balance changes can be negative despite positive operating cash flow, with a net decrease in cash of about $0.839B in Q4 2025, highlighting quarterly cash-outflows that offset a portion of operating cash flow.

05/21/26 04:52 AM ETAI Generated. May Contain Errors.

American Electric Power Financials - Frequently Asked Questions

According to the most recent income statement we have on file, American Electric Power's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

American Electric Power's net income appears to be on an upward trend, with a most recent value of $3.70 billion in 2025, rising from $2.05 billion in 2015. The previous period was $2.98 billion in 2024. Find out what analysts predict for American Electric Power in the coming months.

American Electric Power's total operating income in 2025 was $5.32 billion, based on the following breakdown:

Total Gross Profit: $14.85 billion
Total Operating Expenses: $9.53 billion

Over the last 10 years, American Electric Power's total revenue changed from $17.20 billion in 2015 to $21.88 billion in 2025, a change of 27.2%.

American Electric Power's total liabilities were at $82.20 billion at the end of 2025, a 8.1% increase from 2024, and a 87.8% increase since 2015.

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 $197 million as of their latest financial filing in 2025.

Over the last 10 years, American Electric Power's book value per share changed from 36.49 in 2015 to 53.03 in 2025, a change of 45.3%.

Related Companies

Financial statements for NASDAQ:AEP last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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American Electric Power (AEP) Financials

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American Electric Power (AEP) Financials

Annual Income Statements for American Electric Power

Quarterly Income Statements for American Electric Power

Annual Cash Flow Statements for American Electric Power

Quarterly Cash Flow Statements for American Electric Power

Annual Balance Sheets for American Electric Power

Quarterly Balance Sheets for American Electric Power

Annual Metrics And Ratios for American Electric Power

Quarterly Metrics And Ratios for American Electric Power

Financials Breakdown Chart

Key Financial Trends

American Electric Power Financials - Frequently Asked Questions

When does American Electric Power's fiscal year end?

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

What is American Electric Power's operating income?

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

How much debt does American Electric Power have?

How much cash does American Electric Power have?

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

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