FirstEnergy (FE) Financials

$41.50 +0.31 (+0.75%)

As of 11:22 AM Eastern

Annual Income Statements for FirstEnergy

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	978	1,102	406	1,283	1,079	908	981	-1,724	-6,177	578
Consolidated Net Income / (Loss)	1,127	1,176	439	1,283	1,079	912	1,348	-1,724	-6,177	578
Net Income / (Loss) Continuing Operations	1,127	1,197	439	1,239	1,003	904	1,022	-289	551	578
Total Pre-Tax Income	1,504	1,464	1,439	1,559	1,129	1,117	1,512	1,426	1,078	893
Total Operating Income	2,375	2,266	1,910	1,726	2,162	2,510	2,502	2,428	2,054	2,292
Total Gross Profit	9,096	8,224	7,866	7,687	7,720	10,538	10,723	10,431	6,819	8,748
Total Revenue	13,472	12,870	12,459	11,132	10,790	11,035	11,261	10,928	10,700	15,026
Operating Revenue	13,472	12,870	12,459	11,132	10,790	11,035	11,261	10,928	10,700	15,026
Total Cost of Revenue	4,376	4,646	4,593	3,445	3,070	497	538	497	3,881	6,278
Operating Cost of Revenue	4,376	4,646	4,593	3,445	3,070	497	538	497	3,881	6,278
Total Operating Expenses	6,721	5,958	5,956	5,961	5,558	8,028	8,221	8,003	4,765	6,456
Selling, General & Admin Expense	4,159	3,594	3,817	3,196	3,291	5,879	6,242	5,728	2,579	3,740
Depreciation Expense	1,581	1,461	1,375	1,302	1,274	1,220	1,136	1,027	933	1,282
Other Operating Expenses / (Income)	981	1,164	764	1,073	1,046	1,008	843	940	913	1,220
Total Other Income / (Expense), net	-871	-802	-471	-167	-1,033	-1,393	-990	-1,002	-976	-1,399
Interest Expense	1,096	1,063	1,126	1,066	988	962	1,051	953	918	1,015
Interest & Investment Income	58	175	168	31	2.00	243	205	53	44	-22
Other Income / (Expense), net	167	86	487	868	-47	-674	-144	-102	-102	-362
Income Tax Expense	377	267	1,000	320	126	213	490	1,715	527	315
Net Income / (Loss) Attributable to Noncontrolling Interest	149	74	33	0.00	0.00	4.00	367	0.00	0.00	-
Basic Earnings per Share	$1.70	$1.92	$0.71	$2.35	$1.99	$1.70	$1.99	($3.88)	($14.49)	$1.37
Weighted Average Basic Shares Outstanding	575M	573M	571M	545M	542M	535M	492M	444M	426M	422M
Diluted Earnings per Share	$1.70	$1.92	$0.71	$2.35	$1.99	$1.68	$1.99	($3.88)	($14.49)	$1.37
Weighted Average Diluted Shares Outstanding	577M	574M	572M	546M	543M	542M	494M	444M	426M	424M
Weighted Average Basic & Diluted Shares Outstanding	576.70M	574.44M	572.25M	570.34M	543.22M	540.71M	493M	444.30M	426.30M	421.90M
Cash Dividends to Common per Share	$1.69	$1.58	$1.56	$1.56	$1.56	$1.52	$1.44	$1.44	$1.44	$1.44

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	360	261	419	45	253	175	400	235	292	-403	334
Consolidated Net Income / (Loss)	414	296	466	98	267	192	420	254	310	-385	344
Net Income / (Loss) Continuing Operations	414	296	466	98	267	192	441	254	310	-385	344
Total Pre-Tax Income	540	379	560	163	402	266	470	328	400	378	449
Total Operating Income	754	613	727	423	612	568	666	481	551	399	505
Total Gross Profit	2,528	2,171	2,504	2,275	2,146	2,112	2,166	1,972	1,974	1,909	2,157
Total Revenue	3,765	3,176	3,729	3,280	3,287	3,146	3,487	3,006	3,231	3,177	3,475
Operating Revenue	3,765	3,176	3,729	3,280	3,287	3,146	3,487	3,006	3,231	3,177	3,475
Total Cost of Revenue	1,237	1,005	1,225	1,005	1,141	1,034	1,321	1,034	1,257	1,268	1,318
Operating Cost of Revenue	1,237	1,005	1,225	1,005	1,141	1,034	1,321	1,034	1,257	1,268	1,318
Total Operating Expenses	1,774	1,558	1,777	1,852	1,534	1,544	1,500	1,491	1,423	1,510	1,652
Selling, General & Admin Expense	1,034	884	1,099	1,170	1,006	896	967	885	846	990	1,111
Depreciation Expense	411	403	400	397	381	373	366	361	361	355	332
Other Operating Expenses / (Income)	329	271	278	285	147	536	167	245	216	-1.00	209
Total Other Income / (Expense), net	-214	-234	-167	-260	-210	-302	-196	-153	-151	-21	-56
Interest Expense	250	239	241	341	275	268	263	290	242	242	224
Interest & Investment Income	0.00	-6.00	21	22	21	41	43	35	56	34	57
Other Income / (Expense), net	36	11	53	59	44	-75	24	102	35	187	111
Income Tax Expense	126	83	94	65	135	74	29	74	90	763	105
Net Income / (Loss) Attributable to Noncontrolling Interest	54	35	47	53	14	17	20	19	18	18	10
Basic Earnings per Share	$0.62	$0.45	$0.73	$0.08	$0.44	$0.30	$0.70	$0.41	$0.51	($0.71)	$0.58
Weighted Average Basic Shares Outstanding	577M	575M	576M	575M	574M	573M	573M	573M	572M	571M	571M
Diluted Earnings per Share	$0.62	$0.45	$0.73	$0.08	$0.44	$0.31	$0.69	$0.41	$0.51	($0.70)	$0.58
Weighted Average Diluted Shares Outstanding	578M	577M	577M	576M	576M	574M	574M	574M	573M	572M	572M
Weighted Average Basic & Diluted Shares Outstanding	590.78M	576.70M	576.32M	575.92M	575.52M	574.44M	573.81M	573.36M	572.84M	572.25M	571.75M
Cash Dividends to Common per Share	$0.45	-	-	-	$0.43	-	-	-	$0.39	-	$0.39

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-25	-27	-1,305	-290	1,122	250	-214	383	47	46
Net Cash From Operating Activities	2,891	1,387	2,683	2,811	1,423	2,467	1,410	3,808	3,383	3,460
Net Cash From Continuing Operating Activities	2,891	1,387	2,683	2,811	1,423	2,467	1,410	3,808	3,383	3,460
Net Income / (Loss) Continuing Operations	1,127	1,176	439	1,283	1,003	912	1,348	-1,724	-6,177	578
Consolidated Net Income / (Loss)	1,127	1,176	439	1,283	1,079	912	1,348	-1,724	-6,177	578
Depreciation Expense	1,588	1,280	1,317	1,664	1,199	1,217	1,384	1,700	1,974	1,826
Non-Cash Adjustments To Reconcile Net Income	244	-140	-321	-704	-834	734	-386	2,609	10,889	556
Changes in Operating Assets and Liabilities, net	-68	-929	1,248	568	55	-396	-936	1,223	-3,303	452
Net Cash From Investing Activities	-4,350	-3,652	-3,076	-2,559	-2,908	-2,873	-3,018	-2,723	-3,302	-3,122
Net Cash From Continuing Investing Activities	-4,350	-3,652	-3,076	-2,559	-2,908	-2,873	-3,018	-2,723	-3,302	-3,122
Purchase of Property, Plant & Equipment	-4,030	-3,356	-2,848	-2,487	-2,657	-2,665	-2,675	-2,587	-2,835	-2,704
Purchase of Investments	-134	-50	-59	-59	-208	-1,675	-1,463	-2,268	-1,789	-1,648
Sale and/or Maturity of Investments	121	38	48	48	186	1,637	909	2,170	1,678	1,534
Other Investing Activities, net	-307	-284	-217	-216	-229	-170	-214	-426	-371	-324
Net Cash From Financing Activities	1,434	2,238	-912	-542	2,607	656	1,394	-702	-34	-292
Net Cash From Continuing Financing Activities	1,434	2,238	-912	-542	2,607	656	1,394	-702	-34	-292
Repayment of Debt	-3,110	-609	-3,157	-2,793	-1,173	-824	-2,724	-4,738	-2,374	-996
Payment of Dividends	-1,056	-978	-912	-849	-845	-820	-772	-639	-611	-607
Issuance of Debt	2,100	3,825	800	2,100	4,625	2,300	2,424	4,675	2,951	1,311
Issuance of Common Equity	0.00	0.00	9.00	1,000	0.00	0.00	850	0.00	0.00	-
Other Financing Activities, net	3,500	0.00	2,348	0.00	0.00	-	-	-	-	-
Cash Interest Paid	1,062	1,002	1,021	1,085	970	960	1,071	1,039	1,050	1,028
Cash Income Taxes Paid	161	58	21	-7.00	6.00	12	49	53	-16	37

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	9.00	-311	362	-812	736	35	-70	8.00	0.00	-71	-255
Net Cash From Operating Activities	637	1,044	775	1,112	-40	958	642	-101	-112	846	554
Net Cash From Continuing Operating Activities	637	1,044	775	1,112	-40	958	642	-101	-112	846	554
Net Income / (Loss) Continuing Operations	414	296	466	98	267	192	420	254	310	-385	344
Consolidated Net Income / (Loss)	414	296	466	98	267	192	420	254	310	-385	344
Depreciation Expense	408	391	434	487	276	387	236	370	287	274	348
Non-Cash Adjustments To Reconcile Net Income	25	255	5.00	-27	11	34	-13	-131	-30	-127	-29
Changes in Operating Assets and Liabilities, net	-210	102	-130	554	-594	345	-1.00	-594	-679	1,084	-109
Net Cash From Investing Activities	-1,093	-1,389	-1,085	-1,006	-870	-1,179	-926	-831	-716	-1,073	-722
Net Cash From Continuing Investing Activities	-1,093	-1,389	-1,085	-1,006	-870	-1,179	-926	-831	-716	-1,073	-722
Purchase of Property, Plant & Equipment	-1,005	-1,294	-1,004	-942	-790	-1,090	-848	-769	-649	-996	-666
Purchase of Investments	-30	-20	-90	-8.00	-16	-13	-13	-20	-4.00	-19	-18
Sale and/or Maturity of Investments	27	17	87	4.00	13	10	10	17	1.00	17	15
Other Investing Activities, net	-85	-92	-78	-60	-77	-86	-75	-59	-64	-75	-53
Net Cash From Financing Activities	465	34	672	-918	1,646	256	214	940	828	156	-87
Net Cash From Continuing Financing Activities	465	34	672	-918	1,646	256	214	940	828	156	-87
Repayment of Debt	-351	-586	-1,027	-936	-561	-4.00	-23	-250	-332	-114	-159
Payment of Dividends	-269	-280	-281	-252	-243	-245	-233	-260	-240	-230	-237
Issuance of Debt	1,085	900	780	270	150	505	470	1,450	1,400	500	300
Other Financing Activities, net	0.00	-	1,200	-	2,300	-	-	-	0.00	-	-

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	52,044	48,767	46,108	45,432	44,464	42,301	40,063	42,257	43,148	52,094
Total Current Assets	2,776	2,568	2,415	3,237	3,714	2,444	2,392	3,110	2,950	3,040
Cash & Equivalents	111	137	160	1,462	1,734	627	367	588	199	131
Restricted Cash	43	42	46	49	67	52	62	51	176	70
Accounts Receivable	1,833	1,584	1,571	1,279	1,439	1,322	1,491	1,452	1,615	1,595
Inventories, net	549	512	421	260	317	281	252	236	564	785
Other Current Assets	240	293	217	187	-	-	20	-	140	324
Plant, Property, & Equipment, net	41,102	38,412	36,285	34,744	33,294	31,650	29,911	28,101	29,387	37,214
Plant, Property & Equipment, gross	55,650	52,223	49,543	47,416	45,277	43,077	40,704	38,112	45,118	52,374
Accumulated Depreciation	14,548	13,811	13,258	12,672	11,938	11,427	10,793	10,011	15,731	15,160
Total Noncurrent Assets	8,166	7,787	7,408	7,451	7,411	8,207	7,760	11,046	10,811	11,840
Long-Term Investments	652	663	622	655	605	1,181	253	2,130	512	506
Goodwill	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618	6,418
Other Noncurrent Operating Assets	1,896	1,506	1,168	1,178	1,188	1,408	1,889	3,298	4,681	4,916
Total Liabilities & Shareholders' Equity	52,044	48,767	46,108	45,432	44,464	42,301	40,063	42,257	43,148	52,094
Total Liabilities	38,324	37,851	35,465	36,757	37,227	35,326	33,249	38,332	36,907	39,672
Total Current Liabilities	4,997	5,386	3,958	4,416	5,004	4,862	4,634	4,113	7,126	5,602
Short-Term Debt	1,527	2,025	451	1,606	2,346	1,380	1,753	858	4,360	2,874
Accounts Payable	1,575	1,362	1,503	943	827	918	965	827	1,043	1,075
Customer Deposits	233	227	223	214	-	-	-	-	-	-
Dividends Payable	245	235	223	222	212	-	-	-	-	-
Current Deferred & Payable Income Tax Liabilities	727	700	668	647	640	545	533	533	580	519
Current Employee Benefit Liabilities	205	304	272	313	349	258	318	257	363	334
Other Current Liabilities	216	241	364	188	348	1,512	822	660	780	800
Other Current Nonoperating Liabilities	269	292	254	283	282	249	243	978	-	-
Total Noncurrent Liabilities	33,327	32,465	31,507	32,341	32,223	30,464	28,615	34,219	29,781	34,070
Long-Term Debt	22,496	22,885	21,203	22,248	22,131	19,618	17,751	18,687	18,192	19,099
Asset Retirement Reserve & Litigation Obligation	995	1,214	1,847	2,124	1,826	2,525	3,310	3,290	1,639	1,410
Noncurrent Deferred & Payable Income Tax Liabilities	5,613	4,530	4,202	3,437	3,095	2,849	2,502	3,171	3,765	6,773
Noncurrent Employee Benefit Liabilities	1,698	1,663	2,335	2,669	3,345	3,065	2,906	3,975	3,719	4,245
Other Noncurrent Operating Liabilities	2,525	2,173	1,920	1,863	1,826	1,716	2,146	1,568	1,709	1,752
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	13,720	10,916	10,643	8,675	7,237	6,975	6,814	3,925	6,241	12,422
Total Preferred & Common Equity	12,455	10,437	10,166	8,675	7,237	6,975	6,814	3,925	6,241	12,421
Total Common Equity	12,455	10,437	10,166	8,675	7,237	6,975	6,743	3,925	6,241	12,421
Common Stock	12,426	10,551	11,379	10,295	10,130	10,922	11,581	10,045	10,599	9,994
Retained Earnings	43	-97	-1,199	-1,605	-2,888	-3,967	-4,879	-6,262	-4,532	2,256
Accumulated Other Comprehensive Income / (Loss)	-14	-17	-14	-15	-5.00	20	41	142	174	171
Noncontrolling Interest	1,265	479	477	0.00	-	-	-	-	-	1.00

This table presents FirstEnergy'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 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	52,771	52,044	50,756	51,021	51,299	48,767	47,471	47,065	46,479	46,108	44,851
Total Current Assets	2,959	2,776	3,068	3,258	4,063	2,568	2,520	2,485	2,507	2,415	2,312
Cash & Equivalents	132	111	439	60	888	137	118	171	177	160	251
Restricted Cash	31	43	26	43	27	42	26	43	29	46	26
Accounts Receivable	1,888	1,833	1,781	1,800	1,669	1,584	1,573	1,461	1,516	1,571	1,446
Inventories, net	567	549	536	536	538	512	481	449	457	421	361
Other Current Assets	341	240	286	369	491	293	322	361	328	217	228
Plant, Property, & Equipment, net	41,701	41,102	40,119	39,410	38,804	38,412	37,678	37,149	36,630	36,285	35,572
Plant, Property & Equipment, gross	56,475	55,650	54,480	53,628	52,795	52,223	51,532	50,820	50,087	49,543	48,647
Accumulated Depreciation	14,774	14,548	14,361	14,218	13,991	13,811	13,854	13,671	13,457	13,258	13,075
Total Noncurrent Assets	8,111	8,166	7,569	8,353	8,432	7,787	7,273	7,431	7,342	7,408	6,967
Long-Term Investments	657	652	688	670	688	663	626	638	632	622	621
Goodwill	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618
Other Noncurrent Operating Assets	1,836	1,896	1,263	1,315	1,376	1,506	1,029	1,175	1,092	1,168	728
Total Liabilities & Shareholders' Equity	52,771	52,044	50,756	51,021	51,299	48,767	47,471	47,065	46,479	46,108	44,851
Total Liabilities	38,909	38,324	37,064	37,293	37,686	37,851	36,526	36,094	35,748	35,465	33,613
Total Current Liabilities	7,114	4,997	5,473	6,356	6,273	5,386	4,796	4,149	3,700	3,958	3,493
Short-Term Debt	3,563	1,527	2,102	3,120	2,863	2,025	1,572	1,352	602	451	353
Accounts Payable	1,516	1,575	1,520	1,477	1,383	1,362	1,262	1,200	1,238	1,503	1,125
Customer Deposits	236	233	228	228	228	227	225	223	-	223	-
Dividends Payable	257	245	245	0.00	245	235	235	0.00	223	223	223
Current Deferred & Payable Income Tax Liabilities	715	727	729	726	823	700	657	604	701	668	643
Current Employee Benefit Liabilities	257	205	156	197	199	304	252	257	222	272	255
Other Current Liabilities	290	216	221	324	227	241	290	230	229	364	639
Other Current Nonoperating Liabilities	280	269	272	284	305	292	303	283	263	254	255
Total Noncurrent Liabilities	31,795	33,327	31,591	30,937	31,413	32,465	31,730	31,945	32,048	31,507	30,120
Long-Term Debt	21,223	22,496	21,603	20,831	21,652	22,885	22,882	22,656	22,124	21,203	20,905
Asset Retirement Reserve & Litigation Obligation	998	995	916	956	964	1,214	1,316	1,519	1,723	1,847	1,982
Noncurrent Deferred & Payable Income Tax Liabilities	5,740	5,613	5,492	5,389	5,288	4,530	4,449	4,392	4,263	4,202	3,428
Noncurrent Employee Benefit Liabilities	1,698	1,698	1,651	1,655	1,663	1,663	1,512	1,516	2,339	2,335	2,496
Other Noncurrent Operating Liabilities	2,136	2,525	1,929	2,106	1,846	2,173	1,571	1,862	1,599	1,920	1,309
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	13,862	13,720	13,692	13,728	13,613	10,916	10,945	10,971	10,731	10,643	11,238
Total Preferred & Common Equity	12,567	12,455	12,427	12,474	12,397	10,437	10,474	10,510	10,253	10,166	10,774
Total Common Equity	12,567	12,455	12,427	12,474	12,397	10,437	10,474	10,510	10,253	10,166	10,774
Common Stock	12,435	12,426	12,414	12,443	12,414	10,551	10,762	11,197	11,175	11,379	11,583
Retained Earnings	146	43	27	45	0.00	-97	-272	-672	-907	-1,199	-796
Accumulated Other Comprehensive Income / (Loss)	-14	-14	-14	-14	-17	-17	-16	-15	-15	-14	-13
Noncontrolling Interest	1,295	1,265	1,265	1,254	1,216	479	471	461	478	477	464

This table displays calculated financial ratios and metrics derived from FirstEnergy's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.68%	3.30%	11.92%	3.17%	-2.22%	-2.01%	3.05%	2.13%	-28.79%	-0.15%
EBITDA Growth	13.71%	-2.21%	-12.78%	28.49%	8.55%	-18.41%	-7.05%	2.55%	3.21%	40.78%
EBIT Growth	8.08%	-1.88%	-7.59%	22.65%	15.20%	-22.14%	1.38%	19.16%	1.14%	81.73%
NOPAT Growth	-3.94%	217.96%	-57.52%	-28.58%	-5.45%	20.12%	443.68%	-146.87%	-29.23%	12.15%
Net Income Growth	-4.17%	167.88%	-65.78%	18.91%	18.31%	-32.34%	178.19%	72.09%	-1,168.69%	93.31%
EPS Growth	-11.46%	170.42%	-69.79%	18.09%	18.45%	-15.58%	151.29%	73.22%	-1,157.66%	92.96%
Operating Cash Flow Growth	108.44%	-48.30%	-4.55%	97.54%	-42.32%	74.96%	-62.97%	12.56%	-2.23%	27.53%
Free Cash Flow Firm Growth	90.64%	-245.70%	-289.98%	133.07%	-194.14%	103.16%	-88.54%	-47.63%	723.73%	348.51%
Invested Capital Growth	5.46%	11.16%	3.49%	3.73%	10.02%	4.62%	5.20%	-14.26%	-16.87%	1.92%
Revenue Q/Q Growth	0.22%	-0.24%	4.33%	1.12%	-1.24%	-0.33%	1.54%	38.29%	-27.35%	0.39%
EBITDA Q/Q Growth	3.38%	0.55%	-7.43%	7.47%	41.02%	-18.37%	-3.98%	-21.54%	39.32%	0.37%
EBIT Q/Q Growth	5.43%	-3.80%	-5.03%	10.48%	51.29%	-19.83%	-5.72%	-30.09%	117.37%	12.27%
NOPAT Q/Q Growth	3.86%	124.58%	-58.76%	-8.17%	-12.26%	6.27%	676.25%	-120.67%	67.02%	23.91%
Net Income Q/Q Growth	10.17%	96.33%	-64.91%	16.85%	48.62%	-21.45%	204.58%	65.66%	-917.63%	16.06%
EPS Q/Q Growth	8.97%	110.99%	-67.43%	16.34%	48.51%	-19.23%	152.09%	67.26%	-913.29%	16.10%
Operating Cash Flow Q/Q Growth	3.07%	8.78%	5.46%	5.04%	-9.99%	-4.71%	-12.09%	7.18%	-9.42%	5.07%
Free Cash Flow Firm Q/Q Growth	-234.08%	24.44%	-4.01%	-76.67%	-28.64%	84.65%	-80.51%	-56.36%	417.16%	56.88%
Invested Capital Q/Q Growth	1.88%	0.98%	-0.41%	2.26%	-0.18%	0.14%	1.19%	-12.10%	-15.24%	-0.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	67.52%	63.90%	63.14%	69.05%	71.55%	95.50%	95.22%	95.45%	63.73%	58.22%
EBITDA Margin	30.66%	28.22%	29.81%	38.25%	30.71%	27.67%	33.23%	36.84%	36.69%	25.32%
Operating Margin	17.63%	17.61%	15.33%	15.50%	20.04%	22.75%	22.22%	22.22%	19.20%	15.25%
EBIT Margin	18.87%	18.28%	19.24%	23.30%	19.60%	16.64%	20.94%	21.28%	18.24%	12.84%
Profit (Net Income) Margin	8.37%	9.14%	3.52%	11.53%	10.00%	8.26%	11.97%	-15.78%	-57.73%	3.85%
Tax Burden Percent	74.93%	80.33%	30.51%	82.30%	95.57%	81.65%	89.15%	-120.90%	-573.01%	64.73%
Interest Burden Percent	59.17%	62.24%	60.03%	60.10%	53.38%	60.84%	64.12%	61.31%	55.23%	46.27%
Effective Tax Rate	25.07%	18.24%	69.49%	20.53%	11.16%	19.07%	32.41%	120.27%	48.89%	35.27%
Return on Invested Capital (ROIC)	4.88%	5.49%	1.86%	4.53%	6.76%	7.68%	6.71%	-1.85%	3.33%	4.34%
ROIC Less NNEP Spread (ROIC-NNEP)	2.18%	2.54%	1.19%	4.13%	2.81%	1.96%	4.98%	-7.57%	-29.17%	0.18%
Return on Net Nonoperating Assets (RNNOA)	4.27%	5.42%	2.69%	11.60%	8.42%	5.55%	18.40%	-32.07%	-69.52%	0.31%
Return on Equity (ROE)	9.15%	10.91%	4.55%	16.13%	15.18%	13.23%	25.10%	-33.92%	-66.20%	4.65%
Cash Return on Invested Capital (CROIC)	-0.44%	-5.08%	-1.58%	0.86%	-2.78%	3.17%	1.63%	13.51%	21.75%	2.44%
Operating Return on Assets (OROA)	5.04%	4.96%	5.24%	5.77%	4.88%	4.46%	5.73%	5.45%	4.10%	3.72%
Return on Assets (ROA)	2.24%	2.48%	0.96%	2.85%	2.49%	2.21%	3.28%	-4.04%	-12.97%	1.11%
Return on Common Equity (ROCE)	8.50%	10.43%	4.43%	16.13%	15.18%	13.16%	24.94%	-33.92%	-66.19%	4.65%
Return on Equity Simple (ROE_SIMPLE)	9.05%	11.27%	4.32%	14.79%	14.91%	13.08%	19.78%	-43.92%	-98.97%	4.65%
Net Operating Profit after Tax (NOPAT)	1,780	1,853	583	1,372	1,921	2,031	1,691	-492	1,050	1,484
NOPAT Margin	13.21%	14.40%	4.68%	12.32%	17.80%	18.41%	15.02%	-4.50%	9.81%	9.87%
Net Nonoperating Expense Percent (NNEP)	2.70%	2.95%	0.66%	0.40%	3.95%	5.72%	1.73%	5.72%	32.50%	4.17%
Return On Investment Capital (ROIC_SIMPLE)	4.72%	5.17%	1.80%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	32.48%	36.10%	36.86%	30.95%	28.45%	4.50%	4.78%	4.55%	36.27%	41.78%
SG&A Expenses to Revenue	30.87%	27.93%	30.64%	28.71%	30.50%	53.28%	55.43%	52.42%	24.10%	24.89%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	49.89%	46.29%	47.80%	53.55%	51.51%	72.75%	73.00%	73.23%	44.53%	42.97%
Earnings before Interest and Taxes (EBIT)	2,542	2,352	2,397	2,594	2,115	1,836	2,358	2,326	1,952	1,930
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4,130	3,632	3,714	4,258	3,314	3,053	3,742	4,026	3,926	3,804
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.82	1.91	2.14	2.33	1.96	3.08	2.25	2.63	1.53	0.75
Price to Tangible Book Value (P/TBV)	3.32	4.14	4.79	6.62	8.78	15.85	13.50	0.00	15.31	1.55
Price to Revenue (P/Rev)	1.68	1.55	1.75	1.82	1.32	1.95	1.35	0.95	0.89	0.62
Price to Earnings (P/E)	23.19	18.10	53.71	15.77	13.18	23.69	15.48	0.00	0.00	16.09
Dividend Yield	4.28%	4.55%	4.09%	4.20%	5.95%	3.82%	4.85%	6.20%	6.43%	6.55%
Earnings Yield	4.31%	5.53%	1.86%	6.34%	7.59%	4.22%	6.46%	0.00%	0.00%	6.22%
Enterprise Value to Invested Capital (EV/IC)	1.26	1.25	1.35	1.36	1.22	1.50	1.32	1.10	1.12	0.91
Enterprise Value to Revenue (EV/Rev)	3.50	3.46	3.46	3.77	3.36	3.68	3.03	2.48	2.99	2.09
Enterprise Value to EBITDA (EV/EBITDA)	11.42	12.25	11.61	9.85	10.95	13.32	9.11	6.73	8.14	8.24
Enterprise Value to EBIT (EV/EBIT)	18.55	18.92	17.98	16.16	17.16	22.14	14.45	11.65	16.37	16.25
Enterprise Value to NOPAT (EV/NOPAT)	26.50	24.01	73.98	30.56	18.89	20.01	20.15	0.00	30.44	21.14
Enterprise Value to Operating Cash Flow (EV/OCF)	16.31	32.08	16.07	14.91	25.50	16.48	24.17	7.12	9.45	9.06
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	160.79	0.00	48.55	82.67	7.54	4.66	37.62
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.75	2.28	2.03	2.75	3.38	3.01	2.86	4.98	3.73	1.83
Long-Term Debt to Equity	1.64	2.10	1.99	2.56	3.06	2.81	2.61	4.76	3.04	1.60
Financial Leverage	1.96	2.13	2.25	2.81	3.00	2.84	3.70	4.24	2.38	1.75
Leverage Ratio	4.09	4.40	4.74	5.65	6.11	5.97	7.67	8.40	5.10	4.18
Compound Leverage Factor	2.42	2.74	2.84	3.40	3.26	3.63	4.92	5.15	2.82	1.93
Debt to Total Capital	63.65%	69.53%	67.05%	73.33%	77.18%	75.07%	74.11%	83.28%	78.88%	64.70%
Short-Term Debt to Total Capital	4.05%	5.65%	1.40%	4.94%	7.40%	4.93%	6.66%	3.66%	14.75%	8.17%
Long-Term Debt to Total Capital	59.60%	63.88%	65.65%	68.39%	69.78%	70.13%	67.45%	79.62%	64.13%	56.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.35%	1.34%	1.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	33.00%	29.13%	31.48%	26.67%	22.82%	24.93%	25.62%	16.72%	21.12%	35.30%
Debt to EBITDA	5.82	6.86	5.83	5.60	7.39	6.88	5.21	4.85	5.94	5.98
Net Debt to EBITDA	5.62	6.63	5.61	5.09	6.66	6.27	5.03	4.17	5.71	5.80
Long-Term Debt to EBITDA	5.45	6.30	5.71	5.23	6.68	6.43	4.74	4.64	4.83	5.23
Debt to NOPAT	13.50	13.45	37.16	17.39	12.74	10.34	11.53	-39.72	22.20	15.34
Net Debt to NOPAT	13.05	12.99	35.74	15.81	11.49	9.42	11.13	-34.09	21.36	14.87
Long-Term Debt to NOPAT	12.64	12.35	36.39	16.22	11.52	9.66	10.50	-37.98	18.05	13.41
Altman Z-Score	0.73	0.67	0.73	0.68	0.50	0.57	0.51	0.37	0.29	0.55
Noncontrolling Interest Sharing Ratio	7.08%	4.43%	2.47%	0.00%	0.00%	0.51%	0.66%	0.00%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.56	0.48	0.61	0.73	0.74	0.50	0.52	0.76	0.41	0.54
Quick Ratio	0.39	0.32	0.44	0.62	0.63	0.40	0.40	0.50	0.25	0.31
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-160	-1,712	-495	261	-788	837	412	3,596	6,866	834
Operating Cash Flow to CapEx	71.74%	41.33%	94.21%	120.54%	53.56%	92.57%	62.67%	173.17%	119.96%	128.91%
Free Cash Flow to Firm to Interest Expense	-0.15	-1.61	-0.44	0.24	-0.80	0.87	0.39	3.77	7.48	0.82
Operating Cash Flow to Interest Expense	2.64	1.30	2.38	2.64	1.44	2.56	1.34	4.00	3.69	3.41
Operating Cash Flow Less CapEx to Interest Expense	-1.04	-1.85	-0.15	0.45	-1.25	-0.21	-0.80	1.69	0.61	0.76
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.27	0.27	0.25	0.25	0.27	0.27	0.26	0.22	0.29
Accounts Receivable Turnover	7.89	8.16	8.74	8.19	7.82	7.85	7.65	7.13	6.67	8.91
Inventory Turnover	8.25	9.96	13.49	11.94	10.27	1.86	2.20	1.24	5.75	7.84
Fixed Asset Turnover	0.34	0.34	0.35	0.33	0.33	0.36	0.39	0.38	0.32	0.41
Accounts Payable Turnover	2.98	3.24	3.76	3.89	3.52	0.53	0.60	0.53	3.66	5.33
Days Sales Outstanding (DSO)	46.29	44.74	41.75	44.56	46.70	46.52	47.70	51.22	54.75	40.98
Days Inventory Outstanding (DIO)	44.25	36.65	27.06	30.57	35.55	195.72	165.54	293.76	63.44	46.57
Days Payable Outstanding (DPO)	122.49	112.54	97.19	93.77	103.73	691.44	607.88	686.67	99.60	68.43
Cash Conversion Cycle (CCC)	-31.95	-31.15	-28.38	-18.64	-21.49	-449.20	-394.65	-341.69	18.59	19.12
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	37,451	35,511	31,946	30,868	29,757	27,048	25,854	24,575	28,663	34,479
Invested Capital Turnover	0.37	0.38	0.40	0.37	0.38	0.42	0.45	0.41	0.34	0.44
Increase / (Decrease) in Invested Capital	1,940	3,565	1,078	1,111	2,709	1,194	1,279	-4,088	-5,816	650
Enterprise Value (EV)	47,165	44,491	43,108	41,921	36,291	40,652	34,076	27,105	31,963	31,357
Market Capitalization	22,683	19,944	21,805	20,233	14,220	21,514	15,183	10,329	9,541	9,299
Book Value per Share	$21.61	$18.19	$17.78	$15.93	$13.34	$12.91	$13.18	$8.82	$14.66	$29.36
Tangible Book Value per Share	$11.86	$8.40	$7.95	$5.62	$2.98	$2.51	$2.20	($3.81)	$1.46	$14.19
Total Capital	37,743	35,826	32,297	32,529	31,714	27,973	26,318	23,470	29,550	35,186
Total Debt	24,023	24,910	21,654	23,854	24,477	20,998	19,504	19,545	23,309	22,764
Total Long-Term Debt	22,496	22,885	21,203	22,248	22,131	19,618	17,751	18,687	18,949	19,890
Net Debt	23,217	24,068	20,826	21,688	22,071	19,138	18,822	16,776	22,422	22,057
Capital Expenditures (CapEx)	4,030	3,356	2,848	2,332	2,657	2,665	2,250	2,199	2,820	2,684
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-848	-972	-1,298	-1,084	-745	-1,717	-918	-784	-191	111
Debt-free Net Working Capital (DFNWC)	-694	-793	-1,092	427	1,056	-1,038	-489	-145	184	312
Net Working Capital (NWC)	-2,221	-2,818	-1,543	-1,179	-1,290	-2,418	-2,242	-1,003	-4,176	-2,562
Net Nonoperating Expense (NNE)	653	677	144	89	842	1,119	343	1,232	7,227	906
Net Nonoperating Obligations (NNO)	23,731	24,595	21,303	22,193	22,520	20,073	19,040	20,650	22,422	22,057
Total Depreciation and Amortization (D&A)	1,588	1,280	1,317	1,664	1,199	1,217	1,384	1,700	1,974	1,874
Debt-free, Cash-free Net Working Capital to Revenue	-6.29%	-7.55%	-10.42%	-9.74%	-6.90%	-15.56%	-8.15%	-7.17%	-1.79%	0.74%
Debt-free Net Working Capital to Revenue	-5.15%	-6.16%	-8.76%	3.84%	9.79%	-9.41%	-4.34%	-1.33%	1.72%	2.08%
Net Working Capital to Revenue	-16.49%	-21.90%	-12.38%	-10.59%	-11.96%	-21.91%	-19.91%	-9.18%	-39.03%	-17.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.70	$1.92	$0.71	$2.35	$1.99	$0.00	$0.00	$0.00	($14.49)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	575M	573M	571M	545M	542M	0.00	0.00	0.00	426M	0.00
Adjusted Diluted Earnings per Share	$1.70	$1.92	$0.71	$2.35	$1.99	$0.00	$0.00	$0.00	($14.49)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	577M	574M	572M	546M	543M	0.00	0.00	0.00	426M	0.00
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	576.70M	574.44M	572.25M	570.34M	543.22M	0.00	0.00	0.00	442.48M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	1,780	1,853	1,337	1,468	1,921	2,031	1,691	1,700	1,072	1,511
Normalized NOPAT Margin	13.21%	14.40%	10.73%	13.19%	17.80%	18.41%	15.02%	15.55%	10.02%	10.05%
Pre Tax Income Margin	11.16%	11.38%	11.55%	14.00%	10.46%	10.12%	13.43%	13.05%	10.07%	5.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.32	2.21	2.13	2.43	2.14	1.91	2.24	2.44	2.13	1.90
NOPAT to Interest Expense	1.62	1.74	0.52	1.29	1.94	2.11	1.61	-0.52	1.14	1.46
EBIT Less CapEx to Interest Expense	-1.36	-0.94	-0.40	0.25	-0.55	-0.86	0.10	0.13	-0.95	-0.74
NOPAT Less CapEx to Interest Expense	-2.05	-1.41	-2.01	-0.90	-0.75	-0.66	-0.53	-2.82	-1.93	-1.18
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	93.70%	83.16%	207.74%	66.17%	78.31%	89.91%	57.27%	-37.07%	-9.89%	105.02%
Augmented Payout Ratio	93.70%	83.16%	207.74%	66.17%	78.31%	89.91%	57.27%	-37.07%	-9.89%	105.02%

This table displays calculated financial ratios and metrics derived from FirstEnergy's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.54%	0.95%	6.94%	9.12%	1.73%	-0.98%	0.35%	6.67%	8.10%	19.44%	11.24%
EBITDA Growth	28.54%	15.34%	31.10%	1.68%	6.76%	2.33%	-3.94%	8.67%	-13.82%	-25.73%	-16.54%
EBIT Growth	20.43%	26.57%	13.04%	-17.32%	11.95%	-15.87%	12.01%	7.56%	-10.26%	-17.81%	-19.69%
NOPAT Growth	42.21%	16.77%	-3.19%	-31.72%	-4.81%	200.88%	61.51%	4.60%	-1.59%	-302.10%	-25.71%
Net Income Growth	55.06%	54.17%	10.95%	-61.42%	-13.87%	149.87%	22.09%	32.29%	7.64%	-190.16%	-25.70%
EPS Growth	40.91%	45.16%	5.80%	-80.49%	-13.73%	144.29%	18.97%	24.24%	2.00%	-190.91%	-31.76%
Operating Cash Flow Growth	1,692.50%	8.98%	20.72%	1,200.99%	64.29%	13.24%	15.88%	-110.88%	-131.55%	19.66%	-26.82%
Free Cash Flow Firm Growth	80.02%	53.69%	59.89%	-0.17%	-195.00%	-112.55%	-64.18%	-126.58%	-7.27%	-63.14%	-1,137.18%
Invested Capital Growth	3.48%	5.46%	4.53%	8.08%	11.99%	11.16%	9.64%	9.18%	5.20%	3.49%	6.26%
Revenue Q/Q Growth	18.55%	-14.83%	13.69%	-0.21%	4.48%	-9.78%	16.00%	-6.96%	1.70%	-8.58%	23.31%
EBITDA Q/Q Growth	18.03%	-16.39%	25.28%	3.97%	5.91%	-4.97%	-2.83%	9.16%	1.51%	-10.79%	9.92%
EBIT Q/Q Growth	26.60%	-20.00%	61.83%	-26.52%	33.06%	-28.55%	18.35%	-0.51%	0.00%	-4.87%	13.65%
NOPAT Q/Q Growth	20.74%	-20.86%	137.88%	-37.43%	-0.86%	-34.39%	67.77%	-12.77%	205.08%	-205.04%	8.65%
Net Income Q/Q Growth	39.86%	-36.48%	375.51%	-63.30%	39.06%	-54.29%	65.35%	-18.06%	180.52%	-211.92%	79.17%
EPS Q/Q Growth	37.78%	-38.36%	812.50%	-81.82%	41.94%	-55.07%	68.29%	-19.61%	172.86%	-220.69%	75.76%
Operating Cash Flow Q/Q Growth	-38.98%	34.71%	-30.31%	2,880.00%	-104.18%	49.22%	735.64%	9.82%	-113.24%	52.71%	-40.30%
Free Cash Flow Firm Q/Q Growth	51.28%	-47.75%	60.84%	29.12%	-12.95%	-27.94%	2.20%	-108.74%	18.62%	1.18%	-34.97%
Invested Capital Q/Q Growth	2.44%	1.88%	-1.15%	0.31%	4.40%	0.98%	2.20%	3.94%	3.63%	-0.41%	1.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	67.14%	68.36%	67.15%	69.36%	65.29%	67.13%	62.12%	65.60%	61.10%	60.09%	62.07%
EBITDA Margin	31.82%	31.96%	32.56%	29.54%	28.35%	27.97%	26.56%	31.70%	27.02%	27.07%	27.74%
Operating Margin	20.03%	19.30%	19.50%	12.90%	18.62%	18.05%	19.10%	16.00%	17.05%	12.56%	14.53%
EBIT Margin	20.98%	19.65%	20.92%	14.70%	19.96%	15.67%	19.79%	19.39%	18.14%	18.45%	17.73%
Profit (Net Income) Margin	11.00%	9.32%	12.50%	2.99%	8.12%	6.10%	12.04%	8.45%	9.59%	-12.12%	9.90%
Tax Burden Percent	76.67%	78.10%	83.21%	60.12%	66.42%	72.18%	89.36%	77.44%	77.50%	-101.85%	76.61%
Interest Burden Percent	68.35%	60.74%	71.79%	33.82%	61.28%	53.96%	68.12%	56.26%	68.26%	64.51%	72.89%
Effective Tax Rate	23.33%	21.90%	16.79%	39.88%	33.58%	27.82%	6.17%	22.56%	22.50%	201.85%	23.39%
Return on Invested Capital (ROIC)	5.68%	5.57%	6.06%	2.86%	4.56%	4.97%	6.88%	4.85%	5.20%	-5.07%	4.27%
ROIC Less NNEP Spread (ROIC-NNEP)	4.99%	4.81%	5.48%	2.19%	3.95%	4.02%	5.97%	4.30%	4.68%	-4.98%	4.07%
Return on Net Nonoperating Assets (RNNOA)	8.72%	9.44%	10.51%	4.16%	7.43%	8.56%	12.12%	8.43%	10.83%	-11.20%	9.48%
Return on Equity (ROE)	14.40%	15.00%	16.57%	7.02%	11.99%	13.54%	19.00%	13.27%	16.03%	-16.28%	13.75%
Cash Return on Invested Capital (CROIC)	1.76%	-0.44%	0.33%	-2.90%	-6.09%	-5.08%	-6.74%	-6.80%	-3.21%	-1.58%	-1.53%
Operating Return on Assets (OROA)	5.63%	5.25%	5.72%	3.96%	5.28%	4.25%	5.53%	5.42%	5.06%	5.02%	4.77%
Return on Assets (ROA)	2.95%	2.49%	3.42%	0.80%	2.15%	1.66%	3.37%	2.36%	2.68%	-3.30%	2.67%
Return on Common Equity (ROCE)	13.08%	13.94%	15.41%	6.53%	11.15%	12.94%	18.20%	12.72%	15.63%	-15.88%	13.41%
Return on Equity Simple (ROE_SIMPLE)	10.14%	0.00%	8.23%	7.83%	9.14%	0.00%	5.72%	4.98%	4.50%	0.00%	11.61%
Net Operating Profit after Tax (NOPAT)	578	479	605	254	406	410	625	372	427	-406	387
NOPAT Margin	15.35%	15.07%	16.22%	7.75%	12.37%	13.03%	17.92%	12.39%	13.22%	-12.79%	11.13%
Net Nonoperating Expense Percent (NNEP)	0.68%	0.76%	0.59%	0.67%	0.61%	0.95%	0.91%	0.54%	0.52%	-0.10%	0.20%
Return On Investment Capital (ROIC_SIMPLE)	1.50%	1.27%	-	-	-	1.14%	-	-	-	-1.26%	-
Cost of Revenue to Revenue	32.86%	31.64%	32.85%	30.64%	34.71%	32.87%	37.88%	34.40%	38.90%	39.91%	37.93%
SG&A Expenses to Revenue	27.46%	27.83%	29.47%	35.67%	30.61%	28.48%	27.73%	29.44%	26.18%	31.16%	31.97%
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	47.12%	49.06%	47.65%	56.46%	46.67%	49.08%	43.02%	49.60%	44.04%	47.53%	47.54%
Earnings before Interest and Taxes (EBIT)	790	624	780	482	656	493	690	583	586	586	616
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,198	1,015	1,214	969	932	880	926	953	873	860	964
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.85	1.82	2.06	1.75	1.75	1.91	1.79	2.01	2.10	2.14	1.80
Price to Tangible Book Value (P/TBV)	3.35	3.32	3.75	3.18	3.20	4.14	3.86	4.31	4.64	4.79	3.77
Price to Revenue (P/Rev)	1.67	1.68	1.90	1.65	1.68	1.55	1.45	1.64	1.69	1.75	1.63
Price to Earnings (P/E)	21.48	23.19	28.63	24.97	20.41	18.10	35.80	46.07	52.43	53.71	15.72
Dividend Yield	4.21%	4.28%	3.77%	4.32%	4.23%	4.55%	4.77%	4.24%	4.15%	4.09%	4.59%
Earnings Yield	4.65%	4.31%	3.49%	4.00%	4.90%	5.53%	2.79%	2.17%	1.91%	1.86%	6.36%
Enterprise Value to Invested Capital (EV/IC)	1.27	1.26	1.34	1.24	1.24	1.25	1.22	1.30	1.33	1.35	1.26
Enterprise Value to Revenue (EV/Rev)	3.48	3.50	3.67	3.50	3.55	3.46	3.33	3.47	3.45	3.46	3.37
Enterprise Value to EBITDA (EV/EBITDA)	11.05	11.42	12.36	12.47	12.42	12.25	11.88	12.25	12.27	11.61	10.03
Enterprise Value to EBIT (EV/EBIT)	18.15	18.55	20.47	19.92	18.92	18.92	17.55	18.86	18.83	17.98	15.95
Enterprise Value to NOPAT (EV/NOPAT)	24.87	26.50	28.80	26.56	25.02	24.01	52.02	68.67	73.44	73.98	28.49
Enterprise Value to Operating Cash Flow (EV/OCF)	13.61	16.31	17.60	17.30	31.41	32.08	33.66	37.67	19.79	16.07	15.82
Enterprise Value to Free Cash Flow (EV/FCFF)	73.27	0.00	412.77	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.79	1.75	1.73	1.74	1.80	2.28	2.23	2.19	2.12	2.03	1.89
Long-Term Debt to Equity	1.53	1.64	1.58	1.52	1.59	2.10	2.09	2.07	2.06	1.99	1.86
Financial Leverage	1.75	1.96	1.92	1.90	1.88	2.13	2.03	1.96	2.31	2.25	2.33
Leverage Ratio	3.79	4.09	3.99	3.97	4.02	4.40	4.16	4.14	4.67	4.74	4.74
Compound Leverage Factor	2.59	2.49	2.86	1.34	2.46	2.37	2.83	2.33	3.19	3.06	3.45
Debt to Total Capital	64.13%	63.65%	63.39%	63.57%	64.30%	69.53%	69.08%	68.64%	67.93%	67.05%	65.42%
Short-Term Debt to Total Capital	9.22%	4.05%	5.62%	8.28%	7.51%	5.65%	4.44%	3.87%	1.80%	1.40%	1.09%
Long-Term Debt to Total Capital	54.91%	59.60%	57.77%	55.29%	56.79%	63.88%	64.64%	64.77%	66.13%	65.65%	64.33%
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	3.35%	3.35%	3.38%	3.33%	3.19%	1.34%	1.33%	1.32%	1.43%	1.48%	1.43%
Common Equity to Total Capital	32.52%	33.00%	33.23%	33.11%	32.51%	29.13%	29.59%	30.05%	30.65%	31.48%	33.15%
Debt to EBITDA	5.64	5.82	5.93	6.46	6.64	6.86	6.77	6.58	6.36	5.83	5.30
Net Debt to EBITDA	5.45	5.62	5.65	6.25	6.21	6.63	6.56	6.34	6.12	5.61	5.07
Long-Term Debt to EBITDA	4.83	5.45	5.41	5.62	5.87	6.30	6.34	6.21	6.19	5.71	5.21
Debt to NOPAT	12.69	13.50	13.83	13.76	13.38	13.45	29.64	36.87	38.05	37.16	15.05
Net Debt to NOPAT	12.27	13.05	13.16	13.32	12.51	12.99	28.71	35.56	36.65	35.74	14.41
Long-Term Debt to NOPAT	10.87	12.64	12.61	11.97	11.82	12.35	27.74	34.79	37.04	36.39	14.80
Altman Z-Score	0.58	0.60	0.67	0.57	0.59	0.54	0.56	0.60	0.62	0.60	0.60
Noncontrolling Interest Sharing Ratio	9.14%	7.08%	7.05%	6.94%	6.96%	4.43%	4.21%	4.11%	2.45%	2.47%	2.48%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.42	0.56	0.56	0.51	0.65	0.48	0.53	0.60	0.68	0.61	0.66
Quick Ratio	0.28	0.39	0.41	0.36	0.48	0.32	0.35	0.39	0.46	0.44	0.49
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-712	-1,461	-989	-2,526	-3,564	-3,155	-2,466	-2,522	-1,208	-1,484	-1,502
Operating Cash Flow to CapEx	63.38%	80.68%	77.19%	118.05%	-5.06%	87.89%	75.71%	-13.13%	-17.26%	84.94%	83.18%
Free Cash Flow to Firm to Interest Expense	-2.85	-6.11	-4.10	-7.41	-12.96	-11.77	-9.38	-8.69	-4.99	-6.13	-6.71
Operating Cash Flow to Interest Expense	2.55	4.37	3.22	3.26	-0.15	3.57	2.44	-0.35	-0.46	3.50	2.47
Operating Cash Flow Less CapEx to Interest Expense	-1.47	-1.05	-0.95	0.50	-3.02	-0.49	-0.78	-3.00	-3.14	-0.62	-0.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.27	0.27	0.27	0.26	0.27	0.28	0.28	0.28	0.27	0.27
Accounts Receivable Turnover	7.84	7.89	8.02	8.10	8.12	8.16	8.55	9.08	8.80	8.74	8.50
Inventory Turnover	8.09	8.25	8.66	9.14	9.11	9.96	11.59	12.95	13.25	13.49	13.87
Fixed Asset Turnover	0.35	0.34	0.35	0.34	0.34	0.34	0.35	0.36	0.35	0.35	0.34
Accounts Payable Turnover	3.09	2.98	3.17	3.36	3.46	3.24	4.09	4.09	4.15	3.76	4.20
Days Sales Outstanding (DSO)	46.53	46.29	45.54	45.09	44.97	44.74	42.71	40.18	41.50	41.75	42.94
Days Inventory Outstanding (DIO)	45.09	44.25	42.13	39.94	40.09	36.65	31.49	28.18	27.55	27.06	26.32
Days Payable Outstanding (DPO)	118.31	122.49	115.26	108.54	105.59	112.54	89.27	89.14	87.87	97.19	86.91
Cash Conversion Cycle (CCC)	-26.68	-31.95	-27.59	-23.52	-20.54	-31.15	-15.07	-20.77	-18.82	-28.38	-17.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	38,365	37,451	36,761	37,190	37,075	35,511	35,167	34,410	33,105	31,946	32,076
Invested Capital Turnover	0.37	0.37	0.37	0.37	0.37	0.38	0.38	0.39	0.39	0.40	0.38
Increase / (Decrease) in Invested Capital	1,290	1,940	1,594	2,780	3,970	3,565	3,091	2,894	1,635	1,078	1,889
Enterprise Value (EV)	48,571	47,165	49,359	46,235	45,828	44,491	42,916	44,715	43,864	43,108	40,254
Market Capitalization	23,310	22,683	25,542	21,803	21,700	19,944	18,761	21,098	21,498	21,805	19,430
Book Value per Share	$21.79	$21.61	$21.58	$21.67	$21.60	$18.19	$18.27	$18.35	$17.92	$17.78	$18.86
Tangible Book Value per Share	$12.05	$11.86	$11.82	$11.91	$11.81	$8.40	$8.47	$8.54	$8.10	$7.95	$9.02
Total Capital	38,648	37,743	37,397	37,679	38,128	35,826	35,399	34,979	33,457	32,297	32,496
Total Debt	24,786	24,023	23,705	23,951	24,515	24,910	24,454	24,008	22,726	21,654	21,258
Total Long-Term Debt	21,223	22,496	21,603	20,831	21,652	22,885	22,882	22,656	22,124	21,203	20,905
Net Debt	23,966	23,217	22,552	23,178	22,912	24,068	23,684	23,156	21,888	20,826	20,360
Capital Expenditures (CapEx)	1,005	1,294	1,004	942	790	1,090	848	769	649	996	666
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-755	-848	-768	-81	-262	-972	-848	-526	-797	-1,298	-1,105
Debt-free Net Working Capital (DFNWC)	-592	-694	-303	22	653	-793	-704	-312	-591	-1,092	-828
Net Working Capital (NWC)	-4,155	-2,221	-2,405	-3,098	-2,210	-2,818	-2,276	-1,664	-1,193	-1,543	-1,181
Net Nonoperating Expense (NNE)	164	183	139	156	139	218	205	118	117	-21	43
Net Nonoperating Obligations (NNO)	24,503	23,731	23,069	23,462	23,462	24,595	24,222	23,439	22,374	21,303	20,838
Total Depreciation and Amortization (D&A)	408	391	434	487	276	387	236	370	287	274	348
Debt-free, Cash-free Net Working Capital to Revenue	-5.41%	-6.29%	-5.71%	-0.61%	-2.03%	-7.55%	-6.57%	-4.08%	-6.28%	-10.42%	-9.25%
Debt-free Net Working Capital to Revenue	-4.24%	-5.15%	-2.25%	0.17%	5.05%	-6.16%	-5.46%	-2.42%	-4.65%	-8.76%	-6.93%
Net Working Capital to Revenue	-29.78%	-16.49%	-17.89%	-23.47%	-17.10%	-21.90%	-17.64%	-12.91%	-9.39%	-12.38%	-9.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.62	$0.45	$0.73	$0.08	$0.44	$0.30	$0.70	$0.41	$0.51	($0.71)	$0.58
Adjusted Weighted Average Basic Shares Outstanding	577M	575M	576M	575M	574M	573M	573M	573M	572M	571M	571M
Adjusted Diluted Earnings per Share	$0.62	$0.45	$0.73	$0.08	$0.44	$0.31	$0.69	$0.41	$0.51	($0.70)	$0.58
Adjusted Weighted Average Diluted Shares Outstanding	578M	577M	577M	576M	576M	574M	574M	574M	573M	572M	572M
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	590.78M	576.70M	576.32M	575.92M	575.52M	574.44M	573.81M	573.36M	572.84M	572.25M	571.75M
Normalized Net Operating Profit after Tax (NOPAT)	578	479	605	254	406	410	625	372	427	279	387
Normalized NOPAT Margin	15.35%	15.07%	16.22%	7.75%	12.37%	13.03%	17.92%	12.39%	13.22%	8.79%	11.13%
Pre Tax Income Margin	14.34%	11.93%	15.02%	4.97%	12.23%	8.46%	13.48%	10.91%	12.38%	11.90%	12.92%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.16	2.61	3.24	1.41	2.39	1.84	2.62	2.01	2.42	2.42	2.75
NOPAT to Interest Expense	2.31	2.00	2.51	0.75	1.48	1.53	2.38	1.28	1.76	-1.68	1.73
EBIT Less CapEx to Interest Expense	-0.86	-2.80	-0.93	-1.35	-0.49	-2.23	-0.60	-0.64	-0.26	-1.69	-0.22
NOPAT Less CapEx to Interest Expense	-1.71	-3.41	-1.66	-2.02	-1.39	-2.54	-0.85	-1.37	-0.92	-5.80	-1.25
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	84.93%	93.70%	99.80%	99.59%	86.58%	83.16%	160.77%	184.89%	201.74%	207.74%	71.54%
Augmented Payout Ratio	84.93%	93.70%	99.80%	99.59%	86.58%	83.16%	160.77%	184.89%	201.74%	207.74%	71.54%

Frequently Asked Questions About FirstEnergy's Financials

When does FirstEnergy's financial year end?

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

How has FirstEnergy's net income changed over the last 9 years?

FirstEnergy's net income appears to be on an upward trend, with a most recent value of $1.13 billion in 2024, rising from $578 million in 2015. The previous period was $1.18 billion in 2023. Find out what analysts predict for FirstEnergy in the coming months.

What is FirstEnergy's operating income?

FirstEnergy's total operating income in 2024 was $2.38 billion, based on the following breakdown:

Total Gross Profit: $9.10 billion
Total Operating Expenses: $6.72 billion

How has FirstEnergy revenue changed over the last 9 years?

Over the last 9 years, FirstEnergy's total revenue changed from $15.03 billion in 2015 to $13.47 billion in 2024, a change of -10.3%.

How much debt does FirstEnergy have?

FirstEnergy's total liabilities were at $38.32 billion at the end of 2024, a 1.2% increase from 2023, and a 3.4% decrease since 2015.

How much cash does FirstEnergy have?

In the past 9 years, FirstEnergy's cash and equivalents has ranged from $111 million in 2024 to $1.73 billion in 2020, and is currently $111 million as of their latest financial filing in 2024.

How has FirstEnergy's book value per share changed over the last 9 years?

Over the last 9 years, FirstEnergy's book value per share changed from 29.36 in 2015 to 21.61 in 2024, a change of -26.4%.

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This page (NYSE:FE) was last updated on 5/29/2025 by MarketBeat.com Staff

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FirstEnergy (FE) Financials

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