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FirstEnergy (FE) Financials

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$43.89 +0.10 (+0.22%)
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Annual Income Statements for FirstEnergy

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 299 578 -6,177 -1,724 981 908 1,079 1,283 406 1,102 978
Consolidated Net Income / (Loss)		 299 578 -6,177 -1,724 1,348 912 1,079 1,283 439 1,176 1,127
Net Income / (Loss) Continuing Operations		 213 578 551 -289 1,022 904 1,003 1,239 439 1,197 1,127
Total Pre-Tax Income 		171 893 1,078 1,426 1,512 1,117 1,129 1,559 1,439 1,464 1,504
Total Operating Income		 1,062 2,292 2,054 2,428 2,502 2,510 2,162 1,726 1,910 2,266 2,375
Total Gross Profit		 8,053 8,748 10,129 10,431 10,723 10,538 7,720 7,687 7,866 8,224 9,096
Total Revenue		 15,049 15,026 10,700 10,928 11,261 11,035 10,790 11,132 12,459 12,870 13,472
Operating Revenue		 15,049 15,026 10,700 10,928 11,261 11,035 10,790 11,132 12,459 12,870 13,472
Total Cost of Revenue		 6,996 6,278 571 497 538 497 3,070 3,445 4,593 4,646 4,376
Operating Cost of Revenue		 6,996 6,278 571 497 538 497 3,070 3,445 4,593 4,646 4,376
Total Operating Expenses		 6,991 6,456 8,075 8,003 8,221 8,028 5,558 5,961 5,956 5,958 6,721
Selling, General & Admin Expense		 3,962 3,740 5,889 5,728 6,242 5,879 3,291 3,196 3,817 3,594 4,159
Depreciation Expense		 1,220 1,282 933 1,027 1,136 1,220 1,274 1,302 1,375 1,461 1,581
Other Operating Expenses / (Income)		 1,797 1,220 913 940 843 1,008 1,046 1,073 764 1,164 981
Total Other Income / (Expense), net		 -891 -1,399 -976 -1,002 -990 -1,393 -1,033 -167 -471 -802 -871
Interest Expense		 963 1,015 918 953 1,051 962 988 1,066 1,126 1,063 1,096
Interest & Investment Income		 72 -22 44 53 205 243 2.00 31 168 175 58
Other Income / (Expense), net		 - -362 -102 -102 -144 -674 -47 868 487 86 167
Income Tax Expense		 -42 315 527 1,715 490 213 126 320 1,000 267 377
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - 0.00 0.00 367 4.00 0.00 0.00 33 74 149
Basic Earnings per Share		 $0.71 $1.37 ($14.49) ($3.88) $1.99 $1.70 $1.99 $2.35 $0.71 $1.92 $1.70
Weighted Average Basic Shares Outstanding		 420M 422M 426M 444M 492M 535M 542M 545M 571M 573M 575M
Diluted Earnings per Share		 $0.71 $1.37 ($14.49) ($3.88) $1.99 $1.68 $1.99 $2.35 $0.71 $1.92 $1.70
Weighted Average Diluted Shares Outstanding		 421M 424M 426M 444M 494M 542M 543M 546M 572M 574M 577M
Weighted Average Basic & Diluted Shares Outstanding		 421.10M 421.90M 442.48M 444.30M 493M 540.71M 543.22M 570.34M 572.25M 574.44M 576.70M
Cash Dividends to Common per Share		 $1.44 $1.44 - $1.44 $1.44 $1.52 $1.56 $1.56 $1.56 $1.58 $1.69

Quarterly Income Statements for FirstEnergy

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 -403 292 235 400 175 253 45 419 261 360 268
Consolidated Net Income / (Loss)		 -385 310 254 420 192 267 98 466 296 414 318
Net Income / (Loss) Continuing Operations		 -385 310 254 441 192 267 98 466 296 414 318
Total Pre-Tax Income 		378 400 328 470 266 402 163 560 379 540 406
Total Operating Income		 399 551 481 666 568 612 423 727 613 754 646
Total Gross Profit		 1,909 1,974 1,972 2,166 2,112 2,146 2,275 2,504 2,171 2,528 2,259
Total Revenue		 3,177 3,231 3,006 3,487 3,146 3,287 3,280 3,729 3,176 3,765 3,380
Operating Revenue		 3,177 3,231 3,006 3,487 3,146 3,287 3,280 3,729 3,176 3,765 3,380
Total Cost of Revenue		 1,268 1,257 1,034 1,321 1,034 1,141 1,005 1,225 1,005 1,237 1,121
Operating Cost of Revenue		 1,268 1,257 1,034 1,321 1,034 1,141 1,005 1,225 1,005 1,237 1,121
Total Operating Expenses		 1,510 1,423 1,491 1,500 1,544 1,534 1,852 1,777 1,558 1,774 1,613
Selling, General & Admin Expense		 990 846 885 967 896 1,006 1,170 1,099 884 1,034 995
Depreciation Expense		 355 361 361 366 373 381 397 400 403 411 415
Other Operating Expenses / (Income)		 -1.00 216 245 167 536 147 285 278 271 329 203
Total Other Income / (Expense), net		 -21 -151 -153 -196 -302 -210 -260 -167 -234 -214 -240
Interest Expense		 242 242 290 263 268 275 341 241 239 250 281
Interest & Investment Income		 34 56 35 43 41 21 22 21 -6.00 0.00 0.00
Other Income / (Expense), net		 187 35 102 24 -75 44 59 53 11 36 41
Income Tax Expense		 763 90 74 29 74 135 65 94 83 126 88
Net Income / (Loss) Attributable to Noncontrolling Interest		 18 18 19 20 17 14 53 47 35 54 50
Basic Earnings per Share		 ($0.71) $0.51 $0.41 $0.70 $0.30 $0.44 $0.08 $0.73 $0.45 $0.62 $0.46
Weighted Average Basic Shares Outstanding		 571M 572M 573M 573M 573M 574M 575M 576M 575M 577M 577M
Diluted Earnings per Share		 ($0.70) $0.51 $0.41 $0.69 $0.31 $0.44 $0.08 $0.73 $0.45 $0.62 $0.46
Weighted Average Diluted Shares Outstanding		 572M 573M 574M 574M 574M 576M 576M 577M 577M 578M 578M
Weighted Average Basic & Diluted Shares Outstanding		 572.25M 572.84M 573.36M 573.81M 574.44M 575.52M 575.92M 576.32M 576.70M 590.78M 591.03M

Annual Cash Flow Statements for FirstEnergy

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -133 46 47 383 -214 250 1,122 -290 -1,305 -27 -25
Net Cash From Operating Activities		 2,713 3,460 3,383 3,808 1,410 2,467 1,423 2,811 2,683 1,387 2,891
Net Cash From Continuing Operating Activities		 2,713 3,460 3,383 3,808 1,410 2,467 1,423 2,811 2,683 1,387 2,891
Net Income / (Loss) Continuing Operations		 213 578 -6,177 -1,724 1,348 912 1,003 1,283 439 1,176 1,127
Consolidated Net Income / (Loss)		 299 578 -6,177 -1,724 1,348 912 1,079 1,283 439 1,176 1,127
Depreciation Expense		 1,592 1,826 1,974 1,700 1,384 1,217 1,199 1,664 1,317 1,280 1,588
Non-Cash Adjustments To Reconcile Net Income		 595 556 10,889 2,609 -386 734 -834 -704 -321 -140 244
Changes in Operating Assets and Liabilities, net		 265 452 -3,303 1,223 -936 -396 55 568 1,248 -929 -68
Net Cash From Investing Activities		 -3,359 -3,122 -3,302 -2,723 -3,018 -2,873 -2,908 -2,559 -3,076 -3,652 -4,350
Net Cash From Continuing Investing Activities		 -3,359 -3,122 -3,302 -2,723 -3,018 -2,873 -2,908 -2,559 -3,076 -3,652 -4,350
Purchase of Property, Plant & Equipment		 -3,312 -2,704 -2,835 -2,587 -2,675 -2,665 -2,657 -2,487 -2,848 -3,356 -4,030
Purchase of Investments		 -2,236 -1,648 -1,789 -2,268 -1,463 -1,675 -208 -59 -59 -50 -134
Sale and/or Maturity of Investments		 2,133 1,534 1,678 2,170 909 1,637 186 48 48 38 121
Other Investing Activities, net		 -338 -324 -371 -426 -214 -170 -229 -216 -217 -284 -307
Net Cash From Financing Activities		 513 -292 -34 -702 1,394 656 2,607 -542 -912 2,238 1,434
Net Cash From Continuing Financing Activities		 513 -292 -34 -702 1,394 656 2,607 -542 -912 2,238 1,434
Repayment of Debt		 -3,411 -996 -2,374 -4,738 -2,724 -824 -1,173 -2,793 -3,157 -609 -3,110
Payment of Dividends		 -604 -607 -611 -639 -772 -820 -845 -849 -912 -978 -1,056
Issuance of Debt		 4,528 1,311 2,951 4,675 2,424 2,300 4,625 2,100 800 3,825 2,100
Issuance of Common Equity		 - - 0.00 0.00 850 0.00 0.00 1,000 9.00 0.00 0.00
Other Financing Activities, net		 - - - - - - 0.00 0.00 2,348 0.00 3,500
Cash Interest Paid		 931 1,028 1,050 1,039 1,071 960 970 1,085 1,021 1,002 1,062
Cash Income Taxes Paid		 -103 37 -16 53 49 12 6.00 -7.00 21 58 161

Quarterly Cash Flow Statements for FirstEnergy

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -71 0.00 8.00 -70 35 736 -812 362 -311 9.00 451
Net Cash From Operating Activities		 846 -112 -101 642 958 -40 1,112 775 1,044 637 1,082
Net Cash From Continuing Operating Activities		 846 -112 -101 642 958 -40 1,112 775 1,044 637 1,082
Net Income / (Loss) Continuing Operations		 -385 310 254 420 192 267 98 466 296 414 318
Consolidated Net Income / (Loss)		 -385 310 254 420 192 267 98 466 296 414 318
Depreciation Expense		 274 287 370 236 387 276 487 434 391 408 348
Non-Cash Adjustments To Reconcile Net Income		 -127 -30 -131 -13 34 11 -27 5.00 255 25 54
Changes in Operating Assets and Liabilities, net		 1,084 -679 -594 -1.00 345 -594 554 -130 102 -210 362
Net Cash From Investing Activities		 -1,073 -716 -831 -926 -1,179 -870 -1,006 -1,085 -1,389 -1,093 -1,321
Net Cash From Continuing Investing Activities		 -1,073 -716 -831 -926 -1,179 -870 -1,006 -1,085 -1,389 -1,093 -1,321
Purchase of Property, Plant & Equipment		 -996 -649 -769 -848 -1,090 -790 -942 -1,004 -1,294 -1,005 -1,218
Purchase of Investments		 -19 -4.00 -20 -13 -13 -16 -8.00 -90 -20 -30 -6.00
Sale and/or Maturity of Investments		 17 1.00 17 10 10 13 4.00 87 17 27 3.00
Other Investing Activities, net		 -75 -64 -59 -75 -86 -77 -60 -78 -92 -85 -100
Net Cash From Financing Activities		 156 828 940 214 256 1,646 -918 672 34 465 690
Net Cash From Continuing Financing Activities		 156 828 940 214 256 1,646 -918 672 34 465 690
Repayment of Debt		 -114 -332 -250 -23 -4.00 -561 -936 -1,027 -586 -351 -2,068
Payment of Dividends		 -230 -240 -260 -233 -245 -243 -252 -281 -280 -269 -282
Issuance of Debt		 500 1,400 1,450 470 505 150 270 780 900 1,085 3,040

Annual Balance Sheets for FirstEnergy

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 51,648 52,094 43,148 42,257 40,063 42,301 44,464 45,432 46,108 48,767 52,044
Total Current Assets		 3,358 3,040 2,950 3,110 2,392 2,444 3,714 3,237 2,415 2,568 2,776
Cash & Equivalents		 85 131 199 588 367 627 1,734 1,462 160 137 111
Restricted Cash		 230 70 176 51 62 52 67 49 46 42 43
Accounts Receivable		 1,779 1,595 1,615 1,452 1,491 1,322 1,439 1,279 1,571 1,584 1,833
Inventories, net		 817 785 564 236 252 281 317 260 421 512 549
Other Current Assets		 319 324 140 - 20 - - 187 217 293 240
Plant, Property, & Equipment, net		 35,783 37,214 29,387 28,101 29,911 31,650 33,294 34,744 36,285 38,412 41,102
Plant, Property & Equipment, gross		 49,933 52,374 45,118 38,112 40,704 43,077 45,277 47,416 49,543 52,223 55,650
Accumulated Depreciation		 14,150 15,160 15,731 10,011 10,793 11,427 11,938 12,672 13,258 13,811 14,548
Total Noncurrent Assets		 12,507 11,840 10,811 11,046 7,760 8,207 7,411 7,451 7,408 7,787 8,166
Long-Term Investments		 881 506 512 2,130 253 1,181 605 655 622 663 652
Goodwill		 6,418 6,418 5,618 5,618 5,618 5,618 5,618 5,618 5,618 5,618 5,618
Other Noncurrent Operating Assets		 5,208 4,916 4,681 3,298 1,889 1,408 1,188 1,178 1,168 1,506 1,896
Total Liabilities & Shareholders' Equity		 51,648 52,094 43,148 42,257 40,063 42,301 44,464 45,432 46,108 48,767 52,044
Total Liabilities		 39,226 39,672 36,907 38,332 33,249 35,326 37,227 36,757 35,465 37,851 38,324
Total Current Liabilities		 5,561 5,602 7,126 4,113 4,634 4,862 5,004 4,416 3,958 5,386 4,997
Short-Term Debt		 2,603 2,874 4,360 858 1,753 1,380 2,346 1,606 451 2,025 1,527
Accounts Payable		 1,279 1,075 1,043 827 965 918 827 943 1,503 1,362 1,575
Customer Deposits		 - - - - - - - 214 223 227 233
Dividends Payable		 - - - - - - 212 222 223 235 245
Current Deferred & Payable Income Tax Liabilities		 490 519 580 533 533 545 640 647 668 700 727
Current Employee Benefit Liabilities		 329 334 363 257 318 258 349 313 272 304 205
Other Current Liabilities		 860 800 780 660 822 1,512 348 188 364 241 216
Other Current Nonoperating Liabilities		 - - - 978 243 249 282 283 254 292 269
Total Noncurrent Liabilities		 33,665 34,070 29,781 34,219 28,615 30,464 32,223 32,341 31,507 32,465 33,327
Long-Term Debt		 19,176 19,099 18,192 18,687 17,751 19,618 22,131 22,248 21,203 22,885 22,496
Asset Retirement Reserve & Litigation Obligation		 1,387 1,410 1,639 3,290 3,310 2,525 1,826 2,124 1,847 1,214 995
Noncurrent Deferred & Payable Income Tax Liabilities		 6,539 6,773 3,765 3,171 2,502 2,849 3,095 3,437 4,202 4,530 5,613
Noncurrent Employee Benefit Liabilities		 3,932 4,245 3,719 3,975 2,906 3,065 3,345 2,669 2,335 1,663 1,698
Other Noncurrent Operating Liabilities		 1,807 1,752 1,709 1,568 2,146 1,716 1,826 1,863 1,920 2,173 2,525
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		 12,422 12,422 6,241 3,925 6,814 6,975 7,237 8,675 10,643 10,916 13,720
Total Preferred & Common Equity		 12,420 12,421 6,241 3,925 6,814 6,975 7,237 8,675 10,166 10,437 12,455
Total Common Equity		 12,420 12,421 6,241 3,925 6,743 6,975 7,237 8,675 10,166 10,437 12,455
Common Stock		 9,889 9,994 10,599 10,045 11,581 10,922 10,130 10,295 11,379 10,551 12,426
Retained Earnings		 2,285 2,256 -4,532 -6,262 -4,879 -3,967 -2,888 -1,605 -1,199 -97 43
Accumulated Other Comprehensive Income / (Loss)		 246 171 174 142 41 20 -5.00 -15 -14 -17 -14
Noncontrolling Interest		 2.00 1.00 - - - - - 0.00 477 479 1,265

Quarterly Balance Sheets for FirstEnergy

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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 46,108 46,479 47,065 47,471 48,767 51,299 51,021 50,756 52,044 52,771 54,230
Total Current Assets		 2,415 2,507 2,485 2,520 2,568 4,063 3,258 3,068 2,776 2,959 3,469
Cash & Equivalents		 160 177 171 118 137 888 60 439 111 132 569
Restricted Cash		 46 29 43 26 42 27 43 26 43 31 45
Accounts Receivable		 1,571 1,516 1,461 1,573 1,584 1,669 1,800 1,781 1,833 1,888 1,888
Inventories, net		 421 457 449 481 512 538 536 536 549 567 595
Other Current Assets		 217 328 361 322 293 491 369 286 240 341 372
Plant, Property, & Equipment, net		 36,285 36,630 37,149 37,678 38,412 38,804 39,410 40,119 41,102 41,701 42,665
Plant, Property & Equipment, gross		 49,543 50,087 50,820 51,532 52,223 52,795 53,628 54,480 55,650 56,475 57,668
Accumulated Depreciation		 13,258 13,457 13,671 13,854 13,811 13,991 14,218 14,361 14,548 14,774 15,003
Total Noncurrent Assets		 7,408 7,342 7,431 7,273 7,787 8,432 8,353 7,569 8,166 8,111 8,096
Long-Term Investments		 622 632 638 626 663 688 670 688 652 657 668
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		 1,168 1,092 1,175 1,029 1,506 1,376 1,315 1,263 1,896 1,836 1,810
Total Liabilities & Shareholders' Equity		 46,108 46,479 47,065 47,471 48,767 51,299 51,021 50,756 52,044 52,771 54,230
Total Liabilities		 35,465 35,748 36,094 36,526 37,851 37,686 37,293 37,064 38,324 38,909 40,059
Total Current Liabilities		 3,958 3,700 4,149 4,796 5,386 6,273 6,356 5,473 4,997 7,114 5,647
Short-Term Debt		 451 602 1,352 1,572 2,025 2,863 3,120 2,102 1,527 3,563 2,072
Accounts Payable		 1,503 1,238 1,200 1,262 1,362 1,383 1,477 1,520 1,575 1,516 1,826
Customer Deposits		 223 - 223 225 227 228 228 228 233 236 241
Dividends Payable		 223 223 0.00 235 235 245 0.00 245 245 257 0.00
Current Deferred & Payable Income Tax Liabilities		 668 701 604 657 700 823 726 729 727 715 683
Current Employee Benefit Liabilities		 272 222 257 252 304 199 197 156 205 257 271
Other Current Liabilities		 364 229 230 290 241 227 324 221 216 290 251
Other Current Nonoperating Liabilities		 254 263 283 303 292 305 284 272 269 280 303
Total Noncurrent Liabilities		 31,507 32,048 31,945 31,730 32,465 31,413 30,937 31,591 33,327 31,795 34,412
Long-Term Debt		 21,203 22,124 22,656 22,882 22,885 21,652 20,831 21,603 22,496 21,223 23,746
Asset Retirement Reserve & Litigation Obligation		 1,847 1,723 1,519 1,316 1,214 964 956 916 995 998 1,013
Noncurrent Deferred & Payable Income Tax Liabilities		 4,202 4,263 4,392 4,449 4,530 5,288 5,389 5,492 5,613 5,740 5,830
Noncurrent Employee Benefit Liabilities		 2,335 2,339 1,516 1,512 1,663 1,663 1,655 1,651 1,698 1,698 1,697
Other Noncurrent Operating Liabilities		 1,920 1,599 1,862 1,571 2,173 1,846 2,106 1,929 2,525 2,136 2,126
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		 10,643 10,731 10,971 10,945 10,916 13,613 13,728 13,692 13,720 13,862 14,171
Total Preferred & Common Equity		 10,166 10,253 10,510 10,474 10,437 12,397 12,474 12,427 12,455 12,567 12,851
Total Common Equity		 10,166 10,253 10,510 10,474 10,437 12,397 12,474 12,427 12,455 12,567 12,851
Common Stock		 11,379 11,175 11,197 10,762 10,551 12,414 12,443 12,414 12,426 12,435 12,451
Retained Earnings		 -1,199 -907 -672 -272 -97 0.00 45 27 43 146 414
Accumulated Other Comprehensive Income / (Loss)		 -14 -15 -15 -16 -17 -17 -14 -14 -14 -14 -14
Noncontrolling Interest		 477 478 461 471 479 1,216 1,254 1,265 1,265 1,295 1,320

Annual Metrics And Ratios for FirstEnergy

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1.05% -0.15% -28.79% 2.13% 3.05% -2.01% -2.22% 3.17% 11.92% 3.30% 4.68%
EBITDA Growth		 -28.04% 40.78% 3.21% 2.55% -7.05% -18.41% 8.55% 28.49% -12.78% -2.21% 13.71%
EBIT Growth		 -36.97% 81.73% 1.14% 19.16% 1.38% -22.14% 15.20% 22.65% -7.59% -1.88% 8.08%
NOPAT Growth		 27.10% 12.15% -29.23% -146.87% 443.68% 20.12% -5.45% -28.58% -57.52% 217.96% -3.94%
Net Income Growth		 -23.72% 93.31% -1,168.69% 72.09% 178.19% -32.34% 18.31% 18.91% -65.78% 167.88% -4.17%
EPS Growth		 -24.47% 92.96% -1,157.66% 73.22% 151.29% -15.58% 18.45% 18.09% -69.79% 170.42% -11.46%
Operating Cash Flow Growth		 1.92% 27.53% -2.23% 12.56% -62.97% 74.96% -42.32% 97.54% -4.55% -48.30% 108.44%
Free Cash Flow Firm Growth		 -41.70% 348.51% 723.73% -47.63% -88.54% 103.16% -194.14% 133.07% -289.98% -245.70% 90.64%
Invested Capital Growth		 3.48% 1.92% -16.87% -14.26% 5.20% 4.62% 10.02% 3.73% 3.49% 11.16% 5.46%
Revenue Q/Q Growth		 -0.97% 0.39% -27.35% 38.29% 1.54% -0.33% -1.24% 1.12% 4.33% -0.24% 0.22%
EBITDA Q/Q Growth		 -23.37% 0.37% 39.32% -21.54% -3.98% -18.37% 41.02% 7.47% -7.43% 0.55% 3.38%
EBIT Q/Q Growth		 -40.44% 12.27% 117.37% -30.09% -5.72% -19.83% 51.29% 10.48% -5.03% -3.80% 5.43%
NOPAT Q/Q Growth		 6.97% 23.91% 67.02% -120.67% 676.25% 6.27% -12.26% -8.17% -58.76% 124.58% 3.86%
Net Income Q/Q Growth		 -59.97% 16.06% -917.63% 65.66% 204.58% -21.45% 48.62% 16.85% -64.91% 96.33% 10.17%
EPS Q/Q Growth		 -59.89% 16.10% -913.29% 67.26% 152.09% -19.23% 48.51% 16.34% -67.43% 110.99% 8.97%
Operating Cash Flow Q/Q Growth		 -0.55% 5.07% -9.42% 7.18% -12.09% -4.71% -9.99% 5.04% 5.46% 8.78% 3.07%
Free Cash Flow Firm Q/Q Growth		 3,864.80% 56.88% 417.16% -56.36% -80.51% 84.65% -28.64% -76.67% -4.01% 24.44% -234.08%
Invested Capital Q/Q Growth		 -0.07% -0.11% -15.24% -12.10% 1.19% 0.14% -0.18% 2.26% -0.41% 0.98% 1.88%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 53.51% 58.22% 63.73% 95.45% 95.22% 95.50% 71.55% 69.05% 63.14% 63.90% 67.52%
EBITDA Margin		 17.95% 25.32% 36.69% 36.84% 33.23% 27.67% 30.71% 38.25% 29.81% 28.22% 30.66%
Operating Margin		 7.06% 15.25% 19.20% 22.22% 22.22% 22.75% 20.04% 15.50% 15.33% 17.61% 17.63%
EBIT Margin		 7.06% 12.84% 18.24% 21.28% 20.94% 16.64% 19.60% 23.30% 19.24% 18.28% 18.87%
Profit (Net Income) Margin		 1.99% 3.85% -57.73% -15.78% 11.97% 8.26% 10.00% 11.53% 3.52% 9.14% 8.37%
Tax Burden Percent		 174.85% 64.73% -573.01% -120.90% 89.15% 81.65% 95.57% 82.30% 30.51% 80.33% 74.93%
Interest Burden Percent		 16.10% 46.27% 55.23% 61.31% 64.12% 60.84% 53.38% 60.10% 60.03% 62.24% 59.17%
Effective Tax Rate		 -24.56% 35.27% 48.89% 120.27% 32.41% 19.07% 11.16% 20.53% 69.49% 18.24% 25.07%
Return on Invested Capital (ROIC)		 3.98% 4.34% 3.33% -1.85% 6.71% 7.68% 6.76% 4.53% 1.86% 5.49% 4.88%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.97% 0.18% -29.17% -7.57% 4.98% 1.96% 2.81% 4.13% 1.19% 2.54% 2.18%
Return on Net Nonoperating Assets (RNNOA)		 -1.60% 0.31% -69.52% -32.07% 18.40% 5.55% 8.42% 11.60% 2.69% 5.42% 4.27%
Return on Equity (ROE)		 2.38% 4.65% -66.20% -33.92% 25.10% 13.23% 15.18% 16.13% 4.55% 10.91% 9.15%
Cash Return on Invested Capital (CROIC)		 0.56% 2.44% 21.75% 13.51% 1.63% 3.17% -2.78% 0.86% -1.58% -5.08% -0.44%
Operating Return on Assets (OROA)		 2.08% 3.72% 4.10% 5.45% 5.73% 4.46% 4.88% 5.77% 5.24% 4.96% 5.04%
Return on Assets (ROA)		 0.59% 1.11% -12.97% -4.04% 3.28% 2.21% 2.49% 2.85% 0.96% 2.48% 2.24%
Return on Common Equity (ROCE)		 2.38% 4.65% -66.19% -33.92% 24.94% 13.16% 15.18% 16.13% 4.43% 10.43% 8.50%
Return on Equity Simple (ROE_SIMPLE)		 2.41% 4.65% -98.97% -43.92% 19.78% 13.08% 14.91% 14.79% 4.32% 11.27% 9.05%
Net Operating Profit after Tax (NOPAT)		 1,323 1,484 1,050 -492 1,691 2,031 1,921 1,372 583 1,853 1,780
NOPAT Margin		 8.79% 9.87% 9.81% -4.50% 15.02% 18.41% 17.80% 12.32% 4.68% 14.40% 13.21%
Net Nonoperating Expense Percent (NNEP)		 4.95% 4.17% 32.50% 5.72% 1.73% 5.72% 3.95% 0.40% 0.66% 2.95% 2.70%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 1.80% 5.17% 4.72%
Cost of Revenue to Revenue		 46.49% 41.78% 36.27% 4.55% 4.78% 4.50% 28.45% 30.95% 36.86% 36.10% 32.48%
SG&A Expenses to Revenue		 26.33% 24.89% 24.10% 52.42% 55.43% 53.28% 30.50% 28.71% 30.64% 27.93% 30.87%
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		 46.45% 42.97% 44.53% 73.23% 73.00% 72.75% 51.51% 53.55% 47.80% 46.29% 49.89%
Earnings before Interest and Taxes (EBIT)		 1,062 1,930 1,952 2,326 2,358 1,836 2,115 2,594 2,397 2,352 2,542
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,702 3,804 3,926 4,026 3,742 3,053 3,314 4,258 3,714 3,632 4,130
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.88 0.75 1.53 2.63 2.25 3.08 1.96 2.33 2.14 1.91 1.82
Price to Tangible Book Value (P/TBV)		 1.82 1.55 15.31 0.00 13.50 15.85 8.78 6.62 4.79 4.14 3.32
Price to Revenue (P/Rev)		 0.72 0.62 0.89 0.95 1.35 1.95 1.32 1.82 1.75 1.55 1.68
Price to Earnings (P/E)		 36.48 16.09 0.00 0.00 15.48 23.69 13.18 15.77 53.71 18.10 23.19
Dividend Yield		 5.56% 6.55% 6.43% 6.20% 4.85% 3.82% 5.95% 4.20% 4.09% 4.55% 4.28%
Earnings Yield		 2.74% 6.22% 0.00% 0.00% 6.46% 4.22% 7.59% 6.34% 1.86% 5.53% 4.31%
Enterprise Value to Invested Capital (EV/IC)		 0.96 0.91 1.12 1.10 1.32 1.50 1.22 1.36 1.35 1.25 1.26
Enterprise Value to Revenue (EV/Rev)		 2.15 2.09 2.99 2.48 3.03 3.68 3.36 3.77 3.46 3.46 3.50
Enterprise Value to EBITDA (EV/EBITDA)		 11.96 8.24 8.14 6.73 9.11 13.32 10.95 9.85 11.61 12.25 11.42
Enterprise Value to EBIT (EV/EBIT)		 30.43 16.25 16.37 11.65 14.45 22.14 17.16 16.16 17.98 18.92 18.55
Enterprise Value to NOPAT (EV/NOPAT)		 24.43 21.14 30.44 0.00 20.15 20.01 18.89 30.56 73.98 24.01 26.50
Enterprise Value to Operating Cash Flow (EV/OCF)		 11.91 9.06 9.45 7.12 24.17 16.48 25.50 14.91 16.07 32.08 16.31
Enterprise Value to Free Cash Flow (EV/FCFF)		 173.89 37.62 4.66 7.54 82.67 48.55 0.00 160.79 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.82 1.83 3.73 4.98 2.86 3.01 3.38 2.75 2.03 2.28 1.75
Long-Term Debt to Equity		 1.61 1.60 3.04 4.76 2.61 2.81 3.06 2.56 1.99 2.10 1.64
Financial Leverage		 1.65 1.75 2.38 4.24 3.70 2.84 3.00 2.81 2.25 2.13 1.96
Leverage Ratio		 4.06 4.18 5.10 8.40 7.67 5.97 6.11 5.65 4.74 4.40 4.09
Compound Leverage Factor		 0.65 1.93 2.82 5.15 4.92 3.63 3.26 3.40 2.84 2.74 2.42
Debt to Total Capital		 64.53% 64.70% 78.88% 83.28% 74.11% 75.07% 77.18% 73.33% 67.05% 69.53% 63.65%
Short-Term Debt to Total Capital		 7.43% 8.17% 14.75% 3.66% 6.66% 4.93% 7.40% 4.94% 1.40% 5.65% 4.05%
Long-Term Debt to Total Capital		 57.10% 56.53% 64.13% 79.62% 67.45% 70.13% 69.78% 68.39% 65.65% 63.88% 59.60%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.27% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.48% 1.34% 3.35%
Common Equity to Total Capital		 35.46% 35.30% 21.12% 16.72% 25.62% 24.93% 22.82% 26.67% 31.48% 29.13% 33.00%
Debt to EBITDA		 8.37 5.98 5.94 4.85 5.21 6.88 7.39 5.60 5.83 6.86 5.82
Net Debt to EBITDA		 7.92 5.80 5.71 4.17 5.03 6.27 6.66 5.09 5.61 6.63 5.62
Long-Term Debt to EBITDA		 7.40 5.23 4.83 4.64 4.74 6.43 6.68 5.23 5.71 6.30 5.45
Debt to NOPAT		 17.09 15.34 22.20 -39.72 11.53 10.34 12.74 17.39 37.16 13.45 13.50
Net Debt to NOPAT		 16.18 14.87 21.36 -34.09 11.13 9.42 11.49 15.81 35.74 12.99 13.05
Long-Term Debt to NOPAT		 15.12 13.41 18.05 -37.98 10.50 9.66 11.52 16.22 36.39 12.35 12.64
Altman Z-Score		 0.54 0.55 0.29 0.37 0.51 0.57 0.50 0.68 0.73 0.67 0.73
Noncontrolling Interest Sharing Ratio		 0.02% 0.01% 0.01% 0.00% 0.66% 0.51% 0.00% 0.00% 2.47% 4.43% 7.08%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.60 0.54 0.41 0.76 0.52 0.50 0.74 0.73 0.61 0.48 0.56
Quick Ratio		 0.34 0.31 0.25 0.50 0.40 0.40 0.63 0.62 0.44 0.32 0.39
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 186 834 6,866 3,596 412 837 -788 261 -495 -1,712 -160
Operating Cash Flow to CapEx		 92.97% 128.91% 119.96% 173.17% 62.67% 92.57% 53.56% 120.54% 94.21% 41.33% 71.74%
Free Cash Flow to Firm to Interest Expense		 0.19 0.82 7.48 3.77 0.39 0.87 -0.80 0.24 -0.44 -1.61 -0.15
Operating Cash Flow to Interest Expense		 2.82 3.41 3.69 4.00 1.34 2.56 1.44 2.64 2.38 1.30 2.64
Operating Cash Flow Less CapEx to Interest Expense		 -0.21 0.76 0.61 1.69 -0.80 -0.21 -1.25 0.45 -0.15 -1.85 -1.04
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.29 0.29 0.22 0.26 0.27 0.27 0.25 0.25 0.27 0.27 0.27
Accounts Receivable Turnover		 8.14 8.91 6.67 7.13 7.65 7.85 7.82 8.19 8.74 8.16 7.89
Inventory Turnover		 8.92 7.84 5.75 1.24 2.20 1.86 10.27 11.94 13.49 9.96 8.25
Fixed Asset Turnover		 0.44 0.41 0.32 0.38 0.39 0.36 0.33 0.33 0.35 0.34 0.34
Accounts Payable Turnover		 5.53 5.33 3.66 0.53 0.60 0.53 3.52 3.89 3.76 3.24 2.98
Days Sales Outstanding (DSO)		 44.83 40.98 54.75 51.22 47.70 46.52 46.70 44.56 41.75 44.74 46.29
Days Inventory Outstanding (DIO)		 40.93 46.57 63.44 293.76 165.54 195.72 35.55 30.57 27.06 36.65 44.25
Days Payable Outstanding (DPO)		 65.97 68.43 99.60 686.67 607.88 691.44 103.73 93.77 97.19 112.54 122.49
Cash Conversion Cycle (CCC)		 19.79 19.12 18.59 -341.69 -394.65 -449.20 -21.49 -18.64 -28.38 -31.15 -31.95
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 33,829 34,479 28,663 24,575 25,854 27,048 29,757 30,868 31,946 35,511 37,451
Invested Capital Turnover		 0.45 0.44 0.34 0.41 0.45 0.42 0.38 0.37 0.40 0.38 0.37
Increase / (Decrease) in Invested Capital		 1,137 650 -5,816 -4,088 1,279 1,194 2,709 1,111 1,078 3,565 1,940
Enterprise Value (EV)		 32,317 31,357 31,963 27,105 34,076 40,652 36,291 41,921 43,108 44,491 47,165
Market Capitalization		 10,908 9,299 9,541 10,329 15,183 21,514 14,220 20,233 21,805 19,944 22,683
Book Value per Share		 $29.52 $29.36 $14.66 $8.82 $13.18 $12.91 $13.34 $15.93 $17.78 $18.19 $21.61
Tangible Book Value per Share		 $14.26 $14.19 $1.46 ($3.81) $2.20 $2.51 $2.98 $5.62 $7.95 $8.40 $11.86
Total Capital		 35,025 35,186 29,550 23,470 26,318 27,973 31,714 32,529 32,297 35,826 37,743
Total Debt		 22,603 22,764 23,309 19,545 19,504 20,998 24,477 23,854 21,654 24,910 24,023
Total Long-Term Debt		 20,000 19,890 18,949 18,687 17,751 19,618 22,131 22,248 21,203 22,885 22,496
Net Debt		 21,407 22,057 22,422 16,776 18,822 19,138 22,071 21,688 20,826 24,068 23,217
Capital Expenditures (CapEx)		 2,918 2,684 2,820 2,199 2,250 2,665 2,657 2,332 2,848 3,356 4,030
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 85 111 -191 -784 -918 -1,717 -745 -1,084 -1,298 -972 -848
Debt-free Net Working Capital (DFNWC)		 400 312 184 -145 -489 -1,038 1,056 427 -1,092 -793 -694
Net Working Capital (NWC)		 -2,203 -2,562 -4,176 -1,003 -2,242 -2,418 -1,290 -1,179 -1,543 -2,818 -2,221
Net Nonoperating Expense (NNE)		 1,024 906 7,227 1,232 343 1,119 842 89 144 677 653
Net Nonoperating Obligations (NNO)		 21,407 22,057 22,422 20,650 19,040 20,073 22,520 22,193 21,303 24,595 23,731
Total Depreciation and Amortization (D&A)		 1,640 1,874 1,974 1,700 1,384 1,217 1,199 1,664 1,317 1,280 1,588
Debt-free, Cash-free Net Working Capital to Revenue		 0.56% 0.74% -1.79% -7.17% -8.15% -15.56% -6.90% -9.74% -10.42% -7.55% -6.29%
Debt-free Net Working Capital to Revenue		 2.66% 2.08% 1.72% -1.33% -4.34% -9.41% 9.79% 3.84% -8.76% -6.16% -5.15%
Net Working Capital to Revenue		 -14.64% -17.05% -39.03% -9.18% -19.91% -21.91% -11.96% -10.59% -12.38% -21.90% -16.49%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($14.49) $0.00 $0.00 $0.00 $1.99 $2.35 $0.71 $1.92 $1.70
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 426M 0.00 0.00 0.00 542M 545M 571M 573M 575M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($14.49) $0.00 $0.00 $0.00 $1.99 $2.35 $0.71 $1.92 $1.70
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 426M 0.00 0.00 0.00 543M 546M 572M 574M 577M
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 0.00 442.48M 0.00 0.00 0.00 543.22M 570.34M 572.25M 574.44M 576.70M
Normalized Net Operating Profit after Tax (NOPAT)		 743 1,511 1,072 1,700 1,691 2,031 1,921 1,468 1,337 1,853 1,780
Normalized NOPAT Margin		 4.94% 10.05% 10.02% 15.55% 15.02% 18.41% 17.80% 13.19% 10.73% 14.40% 13.21%
Pre Tax Income Margin		 1.14% 5.94% 10.07% 13.05% 13.43% 10.12% 10.46% 14.00% 11.55% 11.38% 11.16%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.10 1.90 2.13 2.44 2.24 1.91 2.14 2.43 2.13 2.21 2.32
NOPAT to Interest Expense		 1.37 1.46 1.14 -0.52 1.61 2.11 1.94 1.29 0.52 1.74 1.62
EBIT Less CapEx to Interest Expense		 -1.93 -0.74 -0.95 0.13 0.10 -0.86 -0.55 0.25 -0.40 -0.94 -1.36
NOPAT Less CapEx to Interest Expense		 -1.66 -1.18 -1.93 -2.82 -0.53 -0.66 -0.75 -0.90 -2.01 -1.41 -2.05
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 202.01% 105.02% -9.89% -37.07% 57.27% 89.91% 78.31% 66.17% 207.74% 83.16% 93.70%
Augmented Payout Ratio		 202.01% 105.02% -9.89% -37.07% 57.27% 89.91% 78.31% 66.17% 207.74% 83.16% 93.70%

Quarterly Metrics And Ratios for FirstEnergy

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 19.44% 8.10% 6.67% 0.35% -0.98% 1.73% 9.12% 6.94% 0.95% 14.54% 3.05%
EBITDA Growth		 -25.73% -13.82% 8.67% -3.94% 2.33% 6.76% 1.68% 31.10% 15.34% 28.54% 6.81%
EBIT Growth		 -17.81% -10.26% 7.56% 12.01% -15.87% 11.95% -17.32% 13.04% 26.57% 20.43% 42.53%
NOPAT Growth		 -302.10% -1.59% 4.60% 61.51% 200.88% -4.81% -31.72% -3.19% 16.77% 42.21% 98.96%
Net Income Growth		 -190.16% 7.64% 32.29% 22.09% 149.87% -13.87% -61.42% 10.95% 54.17% 55.06% 224.49%
EPS Growth		 -190.91% 2.00% 24.24% 18.97% 144.29% -13.73% -80.49% 5.80% 45.16% 40.91% 475.00%
Operating Cash Flow Growth		 19.66% -131.55% -110.88% 15.88% 13.24% 64.29% 1,200.99% 20.72% 8.98% 1,692.50% -2.70%
Free Cash Flow Firm Growth		 -63.14% -7.27% -126.58% -64.18% -112.55% -195.00% -0.17% 59.89% 53.69% 80.02% 47.97%
Invested Capital Growth		 3.49% 5.20% 9.18% 9.64% 11.16% 11.99% 8.08% 4.53% 5.46% 3.48% 4.89%
Revenue Q/Q Growth		 -8.58% 1.70% -6.96% 16.00% -9.78% 4.48% -0.21% 13.69% -14.83% 18.55% -10.23%
EBITDA Q/Q Growth		 -10.79% 1.51% 9.16% -2.83% -4.97% 5.91% 3.97% 25.28% -16.39% 18.03% -13.61%
EBIT Q/Q Growth		 -4.87% 0.00% -0.51% 18.35% -28.55% 33.06% -26.52% 61.83% -20.00% 26.60% -13.04%
NOPAT Q/Q Growth		 -205.04% 205.08% -12.77% 67.77% -34.39% -0.86% -37.43% 137.88% -20.86% 20.74% -12.47%
Net Income Q/Q Growth		 -211.92% 180.52% -18.06% 65.35% -54.29% 39.06% -63.30% 375.51% -36.48% 39.86% -23.19%
EPS Q/Q Growth		 -220.69% 172.86% -19.61% 68.29% -55.07% 41.94% -81.82% 812.50% -38.36% 37.78% -25.81%
Operating Cash Flow Q/Q Growth		 52.71% -113.24% 9.82% 735.64% 49.22% -104.18% 2,880.00% -30.31% 34.71% -38.98% 69.86%
Free Cash Flow Firm Q/Q Growth		 1.18% 18.62% -108.74% 2.20% -27.94% -12.95% 29.12% 60.84% -47.75% 51.28% -84.57%
Invested Capital Q/Q Growth		 -0.41% 3.63% 3.94% 2.20% 0.98% 4.40% 0.31% -1.15% 1.88% 2.44% 1.68%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 60.09% 61.10% 65.60% 62.12% 67.13% 65.29% 69.36% 67.15% 68.36% 67.14% 66.83%
EBITDA Margin		 27.07% 27.02% 31.70% 26.56% 27.97% 28.35% 29.54% 32.56% 31.96% 31.82% 30.62%
Operating Margin		 12.56% 17.05% 16.00% 19.10% 18.05% 18.62% 12.90% 19.50% 19.30% 20.03% 19.11%
EBIT Margin		 18.45% 18.14% 19.39% 19.79% 15.67% 19.96% 14.70% 20.92% 19.65% 20.98% 20.33%
Profit (Net Income) Margin		 -12.12% 9.59% 8.45% 12.04% 6.10% 8.12% 2.99% 12.50% 9.32% 11.00% 9.41%
Tax Burden Percent		 -101.85% 77.50% 77.44% 89.36% 72.18% 66.42% 60.12% 83.21% 78.10% 76.67% 78.33%
Interest Burden Percent		 64.51% 68.26% 56.26% 68.12% 53.96% 61.28% 33.82% 71.79% 60.74% 68.35% 59.10%
Effective Tax Rate		 201.85% 22.50% 22.56% 6.17% 27.82% 33.58% 39.88% 16.79% 21.90% 23.33% 21.67%
Return on Invested Capital (ROIC)		 -5.07% 5.20% 4.85% 6.88% 4.97% 4.56% 2.86% 6.06% 5.57% 5.68% 5.52%
ROIC Less NNEP Spread (ROIC-NNEP)		 -4.98% 4.68% 4.30% 5.97% 4.02% 3.95% 2.19% 5.48% 4.81% 4.99% 4.74%
Return on Net Nonoperating Assets (RNNOA)		 -11.20% 10.83% 8.43% 12.12% 8.56% 7.43% 4.16% 10.51% 9.44% 8.72% 8.21%
Return on Equity (ROE)		 -16.28% 16.03% 13.27% 19.00% 13.54% 11.99% 7.02% 16.57% 15.00% 14.40% 13.73%
Cash Return on Invested Capital (CROIC)		 -1.58% -3.21% -6.80% -6.74% -5.08% -6.09% -2.90% 0.33% -0.44% 1.76% 0.92%
Operating Return on Assets (OROA)		 5.02% 5.06% 5.42% 5.53% 4.25% 5.28% 3.96% 5.72% 5.25% 5.63% 5.43%
Return on Assets (ROA)		 -3.30% 2.68% 2.36% 3.37% 1.66% 2.15% 0.80% 3.42% 2.49% 2.95% 2.51%
Return on Common Equity (ROCE)		 -15.88% 15.63% 12.72% 18.20% 12.94% 11.15% 6.53% 15.41% 13.94% 13.08% 12.46%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 4.50% 4.98% 5.72% 0.00% 9.14% 7.83% 8.23% 0.00% 10.14% 0.00%
Net Operating Profit after Tax (NOPAT)		 -406 427 372 625 410 406 254 605 479 578 506
NOPAT Margin		 -12.79% 13.22% 12.39% 17.92% 13.03% 12.37% 7.75% 16.22% 15.07% 15.35% 14.97%
Net Nonoperating Expense Percent (NNEP)		 -0.10% 0.52% 0.54% 0.91% 0.95% 0.61% 0.67% 0.59% 0.76% 0.68% 0.78%
Return On Investment Capital (ROIC_SIMPLE)		 -1.26% - - - 1.14% - - - 1.27% 1.50% 1.27%
Cost of Revenue to Revenue		 39.91% 38.90% 34.40% 37.88% 32.87% 34.71% 30.64% 32.85% 31.64% 32.86% 33.17%
SG&A Expenses to Revenue		 31.16% 26.18% 29.44% 27.73% 28.48% 30.61% 35.67% 29.47% 27.83% 27.46% 29.44%
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		 47.53% 44.04% 49.60% 43.02% 49.08% 46.67% 56.46% 47.65% 49.06% 47.12% 47.72%
Earnings before Interest and Taxes (EBIT)		 586 586 583 690 493 656 482 780 624 790 687
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 860 873 953 926 880 932 969 1,214 1,015 1,198 1,035
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.14 2.10 2.01 1.79 1.91 1.75 1.75 2.06 1.82 1.85 1.85
Price to Tangible Book Value (P/TBV)		 4.79 4.64 4.31 3.86 4.14 3.20 3.18 3.75 3.32 3.35 3.29
Price to Revenue (P/Rev)		 1.75 1.69 1.64 1.45 1.55 1.68 1.65 1.90 1.68 1.67 1.69
Price to Earnings (P/E)		 53.71 52.43 46.07 35.80 18.10 20.41 24.97 28.63 23.19 21.48 18.18
Dividend Yield		 4.09% 4.15% 4.24% 4.77% 4.55% 4.23% 4.32% 3.77% 4.28% 4.21% 4.27%
Earnings Yield		 1.86% 1.91% 2.17% 2.79% 5.53% 4.90% 4.00% 3.49% 4.31% 4.65% 5.50%
Enterprise Value to Invested Capital (EV/IC)		 1.35 1.33 1.30 1.22 1.25 1.24 1.24 1.34 1.26 1.27 1.27
Enterprise Value to Revenue (EV/Rev)		 3.46 3.45 3.47 3.33 3.46 3.55 3.50 3.67 3.50 3.48 3.53
Enterprise Value to EBITDA (EV/EBITDA)		 11.61 12.27 12.25 11.88 12.25 12.42 12.47 12.36 11.42 11.05 11.13
Enterprise Value to EBIT (EV/EBIT)		 17.98 18.83 18.86 17.55 18.92 18.92 19.92 20.47 18.55 18.15 17.23
Enterprise Value to NOPAT (EV/NOPAT)		 73.98 73.44 68.67 52.02 24.01 25.02 26.56 28.80 26.50 24.87 22.86
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.07 19.79 37.67 33.66 32.08 31.41 17.30 17.60 16.31 13.61 14.03
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 412.77 0.00 73.27 141.17
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.03 2.12 2.19 2.23 2.28 1.80 1.74 1.73 1.75 1.79 1.82
Long-Term Debt to Equity		 1.99 2.06 2.07 2.09 2.10 1.59 1.52 1.58 1.64 1.53 1.68
Financial Leverage		 2.25 2.31 1.96 2.03 2.13 1.88 1.90 1.92 1.96 1.75 1.73
Leverage Ratio		 4.74 4.67 4.14 4.16 4.40 4.02 3.97 3.99 4.09 3.79 3.77
Compound Leverage Factor		 3.06 3.19 2.33 2.83 2.37 2.46 1.34 2.86 2.49 2.59 2.23
Debt to Total Capital		 67.05% 67.93% 68.64% 69.08% 69.53% 64.30% 63.57% 63.39% 63.65% 64.13% 64.56%
Short-Term Debt to Total Capital		 1.40% 1.80% 3.87% 4.44% 5.65% 7.51% 8.28% 5.62% 4.05% 9.22% 5.18%
Long-Term Debt to Total Capital		 65.65% 66.13% 64.77% 64.64% 63.88% 56.79% 55.29% 57.77% 59.60% 54.91% 59.38%
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		 1.48% 1.43% 1.32% 1.33% 1.34% 3.19% 3.33% 3.38% 3.35% 3.35% 3.30%
Common Equity to Total Capital		 31.48% 30.65% 30.05% 29.59% 29.13% 32.51% 33.11% 33.23% 33.00% 32.52% 32.14%
Debt to EBITDA		 5.83 6.36 6.58 6.77 6.86 6.64 6.46 5.93 5.82 5.64 5.79
Net Debt to EBITDA		 5.61 6.12 6.34 6.56 6.63 6.21 6.25 5.65 5.62 5.45 5.50
Long-Term Debt to EBITDA		 5.71 6.19 6.21 6.34 6.30 5.87 5.62 5.41 5.45 4.83 5.32
Debt to NOPAT		 37.16 38.05 36.87 29.64 13.45 13.38 13.76 13.83 13.50 12.69 11.89
Net Debt to NOPAT		 35.74 36.65 35.56 28.71 12.99 12.51 13.32 13.16 13.05 12.27 11.30
Long-Term Debt to NOPAT		 36.39 37.04 34.79 27.74 12.35 11.82 11.97 12.61 12.64 10.87 10.93
Altman Z-Score		 0.60 0.62 0.60 0.56 0.54 0.59 0.57 0.67 0.60 0.58 0.62
Noncontrolling Interest Sharing Ratio		 2.47% 2.45% 4.11% 4.21% 4.43% 6.96% 6.94% 7.05% 7.08% 9.14% 9.23%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.61 0.68 0.60 0.53 0.48 0.65 0.51 0.56 0.56 0.42 0.61
Quick Ratio		 0.44 0.46 0.39 0.35 0.32 0.48 0.36 0.41 0.39 0.28 0.44
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,484 -1,208 -2,522 -2,466 -3,155 -3,564 -2,526 -989 -1,461 -712 -1,314
Operating Cash Flow to CapEx		 84.94% -17.26% -13.13% 75.71% 87.89% -5.06% 118.05% 77.19% 80.68% 63.38% 88.83%
Free Cash Flow to Firm to Interest Expense		 -6.13 -4.99 -8.69 -9.38 -11.77 -12.96 -7.41 -4.10 -6.11 -2.85 -4.68
Operating Cash Flow to Interest Expense		 3.50 -0.46 -0.35 2.44 3.57 -0.15 3.26 3.22 4.37 2.55 3.85
Operating Cash Flow Less CapEx to Interest Expense		 -0.62 -3.14 -3.00 -0.78 -0.49 -3.02 0.50 -0.95 -1.05 -1.47 -0.48
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.27 0.28 0.28 0.28 0.27 0.26 0.27 0.27 0.27 0.27 0.27
Accounts Receivable Turnover		 8.74 8.80 9.08 8.55 8.16 8.12 8.10 8.02 7.89 7.84 7.62
Inventory Turnover		 13.49 13.25 12.95 11.59 9.96 9.11 9.14 8.66 8.25 8.09 8.11
Fixed Asset Turnover		 0.35 0.35 0.36 0.35 0.34 0.34 0.34 0.35 0.34 0.35 0.34
Accounts Payable Turnover		 3.76 4.15 4.09 4.09 3.24 3.46 3.36 3.17 2.98 3.09 2.78
Days Sales Outstanding (DSO)		 41.75 41.50 40.18 42.71 44.74 44.97 45.09 45.54 46.29 46.53 47.90
Days Inventory Outstanding (DIO)		 27.06 27.55 28.18 31.49 36.65 40.09 39.94 42.13 44.25 45.09 44.99
Days Payable Outstanding (DPO)		 97.19 87.87 89.14 89.27 112.54 105.59 108.54 115.26 122.49 118.31 131.39
Cash Conversion Cycle (CCC)		 -28.38 -18.82 -20.77 -15.07 -31.15 -20.54 -23.52 -27.59 -31.95 -26.68 -38.49
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 31,946 33,105 34,410 35,167 35,511 37,075 37,190 36,761 37,451 38,365 39,010
Invested Capital Turnover		 0.40 0.39 0.39 0.38 0.38 0.37 0.37 0.37 0.37 0.37 0.37
Increase / (Decrease) in Invested Capital		 1,078 1,635 2,894 3,091 3,565 3,970 2,780 1,594 1,940 1,290 1,820
Enterprise Value (EV)		 43,108 43,864 44,715 42,916 44,491 45,828 46,235 49,359 47,165 48,571 49,641
Market Capitalization		 21,805 21,498 21,098 18,761 19,944 21,700 21,803 25,542 22,683 23,310 23,785
Book Value per Share		 $17.78 $17.92 $18.35 $18.27 $18.19 $21.60 $21.67 $21.58 $21.61 $21.79 $21.75
Tangible Book Value per Share		 $7.95 $8.10 $8.54 $8.47 $8.40 $11.81 $11.91 $11.82 $11.86 $12.05 $12.24
Total Capital		 32,297 33,457 34,979 35,399 35,826 38,128 37,679 37,397 37,743 38,648 39,989
Total Debt		 21,654 22,726 24,008 24,454 24,910 24,515 23,951 23,705 24,023 24,786 25,818
Total Long-Term Debt		 21,203 22,124 22,656 22,882 22,885 21,652 20,831 21,603 22,496 21,223 23,746
Net Debt		 20,826 21,888 23,156 23,684 24,068 22,912 23,178 22,552 23,217 23,966 24,536
Capital Expenditures (CapEx)		 996 649 769 848 1,090 790 942 1,004 1,294 1,005 1,218
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,298 -797 -526 -848 -972 -262 -81 -768 -848 -755 -720
Debt-free Net Working Capital (DFNWC)		 -1,092 -591 -312 -704 -793 653 22 -303 -694 -592 -106
Net Working Capital (NWC)		 -1,543 -1,193 -1,664 -2,276 -2,818 -2,210 -3,098 -2,405 -2,221 -4,155 -2,178
Net Nonoperating Expense (NNE)		 -21 117 118 205 218 139 156 139 183 164 188
Net Nonoperating Obligations (NNO)		 21,303 22,374 23,439 24,222 24,595 23,462 23,462 23,069 23,731 24,503 24,839
Total Depreciation and Amortization (D&A)		 274 287 370 236 387 276 487 434 391 408 348
Debt-free, Cash-free Net Working Capital to Revenue		 -10.42% -6.28% -4.08% -6.57% -7.55% -2.03% -0.61% -5.71% -6.29% -5.41% -5.12%
Debt-free Net Working Capital to Revenue		 -8.76% -4.65% -2.42% -5.46% -6.16% 5.05% 0.17% -2.25% -5.15% -4.24% -0.75%
Net Working Capital to Revenue		 -12.38% -9.39% -12.91% -17.64% -21.90% -17.10% -23.47% -17.89% -16.49% -29.78% -15.50%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.71) $0.51 $0.41 $0.70 $0.30 $0.44 $0.08 $0.73 $0.45 $0.62 $0.46
Adjusted Weighted Average Basic Shares Outstanding		 571M 572M 573M 573M 573M 574M 575M 576M 575M 577M 577M
Adjusted Diluted Earnings per Share		 ($0.70) $0.51 $0.41 $0.69 $0.31 $0.44 $0.08 $0.73 $0.45 $0.62 $0.46
Adjusted Weighted Average Diluted Shares Outstanding		 572M 573M 574M 574M 574M 576M 576M 577M 577M 578M 578M
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		 572.25M 572.84M 573.36M 573.81M 574.44M 575.52M 575.92M 576.32M 576.70M 590.78M 591.03M
Normalized Net Operating Profit after Tax (NOPAT)		 279 427 372 625 410 406 254 605 479 578 506
Normalized NOPAT Margin		 8.79% 13.22% 12.39% 17.92% 13.03% 12.37% 7.75% 16.22% 15.07% 15.35% 14.97%
Pre Tax Income Margin		 11.90% 12.38% 10.91% 13.48% 8.46% 12.23% 4.97% 15.02% 11.93% 14.34% 12.01%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.42 2.42 2.01 2.62 1.84 2.39 1.41 3.24 2.61 3.16 2.44
NOPAT to Interest Expense		 -1.68 1.76 1.28 2.38 1.53 1.48 0.75 2.51 2.00 2.31 1.80
EBIT Less CapEx to Interest Expense		 -1.69 -0.26 -0.64 -0.60 -2.23 -0.49 -1.35 -0.93 -2.80 -0.86 -1.89
NOPAT Less CapEx to Interest Expense		 -5.80 -0.92 -1.37 -0.85 -2.54 -1.39 -2.02 -1.66 -3.41 -1.71 -2.53
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 207.74% 201.74% 184.89% 160.77% 83.16% 86.58% 99.59% 99.80% 93.70% 84.93% 74.43%
Augmented Payout Ratio		 207.74% 201.74% 184.89% 160.77% 83.16% 86.58% 99.59% 99.80% 93.70% 84.93% 74.43%

Key Financial Trends

FirstEnergy Corp (NYSE: FE) has shown mixed but generally improving financial performance over the past four years, based on analysis of quarterly financial statements up to Q2 2025.

Income Statement Trends: The company’s operating revenue has exhibited some fluctuations but overall a moderate upward trend:

  • Operating revenue increased to $3.38 billion in Q2 2025 from $3.28 billion in Q1 2024, despite some quarterly volatility.
  • Net income attributable to common shareholders in Q2 2025 was $268 million, showing resilience compared to $253 million in Q1 2023.
  • Earnings per share (diluted) have decreased from $0.51 in Q2 2023 to $0.46 in Q2 2025, indicating pressure on profitability.
  • Interest expense remains significant (around $280 million in Q2 2025), somewhat stable but a noteworthy expense burden.

Cash Flow Highlights:

  • Net cash from continuing operating activities improved significantly to $1.08 billion in Q2 2025 from $637 million in Q1 2025, signaling strong operational cash generation.
  • Capital expenditures remain high, with purchase of property, plant, and equipment at $1.22 billion in Q2 2025, which is a sizable cash outflow.
  • Debt repayment is substantial, with $2.07 billion paid down in Q2 2025, though partially offset by $3.04 billion new debt issuance, showing active debt management but a high leverage profile.

Balance Sheet Observations:

  • Total assets grew from about $44.6 billion in Q1 2023 to $54.2 billion in Q2 2025.
  • Cash and equivalents tripled from $177 million in Q1 2023 to $569 million by Q2 2025, improving liquidity.
  • Total liabilities increased significantly from approximately $35.7 billion in Q1 2023 to $40.1 billion by Q2 2025, driven largely by long-term debt which rose by about $2.3 billion over this period.
  • Total equity also increased moderately, from $10.3 billion in Q1 2023 to $12.9 billion in Q2 2025, reflecting retained earnings growth and possibly minimal equity dilution.

Summary: FirstEnergy has demonstrated a strengthening of cash flows from operations and increased its asset base over the past several years. However, the company carries a significant debt load with ongoing refinancing and repayment activities, which contributes to consistent interest expenses. Earnings per share show some downward pressure in the latest period, possibly from higher expenses or share count changes.

Investors should note the strong operational cash flow generation and asset growth as positive signs, but also consider the elevated capital expenditures and large debt balances when evaluating the risk profile. Monitoring the company's ability to manage its debt and improve profitability will be key going forward.

08/25/25 11:51 AMAI Generated. May Contain Errors.

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 10 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 $299 million in 2014. 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's revenue changed over the last 10 years?

Over the last 10 years, FirstEnergy's total revenue changed from $15.05 billion in 2014 to $13.47 billion in 2024, a change of -10.5%.

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 2.3% decrease since 2014.

How much cash does FirstEnergy have?

In the past 10 years, FirstEnergy's cash and equivalents has ranged from $85 million in 2014 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 10 years?

Over the last 10 years, FirstEnergy's book value per share changed from 29.52 in 2014 to 21.61 in 2024, a change of -26.8%.


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This page (NYSE:FE) was last updated on 8/25/2025 by MarketBeat.com Staff
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