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NRG Energy (NRG) Financials

NRG Energy logo
$134.66 +3.59 (+2.73%)
Closing price 05/14/2026 03:59 PM Eastern
Extended Trading
$133.00 -1.66 (-1.23%)
As of 07:04 AM Eastern
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Annual Income Statements for NRG Energy

Annual Income Statements for NRG Energy

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -6,402 -701 -2,153 268 4,438 510 2,187 1,221 -256 1,058 797
Consolidated Net Income / (Loss)		 -6,436 -891 -2,337 268 4,441 510 2,187 1,221 -202 1,125 864
Net Income / (Loss) Continuing Operations		 -6,331 -956 -1,345 460 4,120 510 2,187 1,221 -202 1,125 864
Total Pre-Tax Income 		-4,986 -931 -1,389 467 786 761 2,859 1,663 -213 1,448 1,134
Total Operating Income		 -4,051 33 -741 982 1,290 1,105 3,341 2,018 384 2,424 1,845
Total Gross Profit		 3,521 2,432 2,275 2,370 2,423 2,445 5,809 4,089 2,340 6,030 5,952
Total Revenue		 12,521 9,108 9,161 9,478 9,821 9,093 26,989 31,543 28,823 28,130 30,713
Operating Revenue		 12,521 9,108 9,161 9,478 9,821 9,093 26,989 31,543 28,823 28,130 30,713
Total Cost of Revenue		 9,000 6,676 6,886 7,108 7,398 6,648 21,180 27,454 26,483 22,100 24,761
Operating Cost of Revenue		 9,000 6,676 6,886 7,108 7,303 6,540 20,482 27,443 26,483 22,100 24,761
Total Operating Expenses		 7,572 2,399 3,016 1,388 1,133 1,340 2,468 2,071 1,956 3,606 4,107
Selling, General & Admin Expense		 1,228 1,032 836 799 760 810 1,293 1,145 2,094 2,345 2,602
Depreciation Expense		 1,351 756 596 421 373 435 785 720 1,295 1,403 1,406
Impairment Charge		 4,860 483 1,534 99 5.00 75 544 206 26 36 0.00
Restructuring Charge		 - - 44 90 2.00 23 93 52 119 30 74
Other Special Charges / (Income)		 -21 80 -16 -32 -7.00 -3.00 -247 -52 -1,578 -208 25
Total Other Income / (Expense), net		 -935 -964 -648 -515 -504 -344 -482 -355 -597 -976 -711
Interest Expense		 927 725 606 527 464 410 562 417 558 1,033 751
Interest & Investment Income		 -34 -286 -93 -6.00 -106 -1.00 17 6.00 -86 13 -28
Other Income / (Expense), net		 26 47 51 18 66 67 63 56 47 44 68
Income Tax Expense		 1,345 25 -44 7.00 -3,334 251 672 442 -11 323 270
Preferred Stock Dividends Declared		 20 -73 - - - - 0.00 0.00 54 67 67
Basic Earnings per Share		 ($19.46) ($2.22) ($6.79) $0.88 $16.94 $2.08 $8.93 $5.17 ($1.12) $5.14 $4.09
Weighted Average Basic Shares Outstanding		 0.00 316M 317M 304M 262M 245M 245M 236M 228M 206M 195M
Diluted Earnings per Share		 ($19.46) ($2.22) ($6.79) $0.87 $16.81 $2.07 $8.93 $5.17 ($1.12) $4.99 $4.01
Weighted Average Diluted Shares Outstanding		 329M 316M 317M 308M 264M 246M 245M 236M 228M 212M 199M
Weighted Average Basic & Diluted Shares Outstanding		 329M 316M 317.10M 304.50M 247.66M 244.69M 242.15M 229.77M 208.02M 198.07M 214.68M
Cash Dividends to Common per Share		 $0.58 $0.24 $0.12 $0.12 $0.12 $1.20 $1.30 $1.40 $1.51 $1.63 $1.76

Quarterly Income Statements for NRG Energy

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 326 466 494 721 -784 627 733 -121 135 50 108
Consolidated Net Income / (Loss)		 343 482 511 738 -767 643 750 -104 152 66 125
Net Income / (Loss) Continuing Operations		 343 482 511 738 -767 643 750 -104 152 66 125
Total Pre-Tax Income 		408 653 695 1,052 -1,014 715 985 -153 238 64 83
Total Operating Income		 561 837 872 1,410 -812 954 1,134 0.00 414 297 328
Total Gross Profit		 1,540 219 1,767 2,331 -16 1,685 2,024 1,111 1,394 1,423 1,398
Total Revenue		 7,946 6,807 7,429 6,659 7,223 6,819 8,585 6,740 7,635 7,753 10,256
Operating Revenue		 7,946 6,807 7,429 6,659 7,223 6,819 8,585 6,740 7,635 7,753 10,256
Total Cost of Revenue		 6,406 6,588 5,662 4,328 7,239 5,134 6,561 5,629 6,241 6,330 8,858
Operating Cost of Revenue		 6,406 6,337 5,662 4,328 7,239 4,820 6,561 5,629 6,241 6,330 8,858
Total Operating Expenses		 979 -618 895 921 796 731 890 1,111 980 1,126 1,070
Selling, General & Admin Expense		 602 293 549 545 645 203 549 724 612 717 593
Depreciation Expense		 359 431 333 360 352 498 326 344 360 376 432
Restructuring Charge		 18 8.00 9.00 6.00 7.00 8.00 8.00 43 8.00 15 45
Other Special Charges / (Income)		 0.00 -1,376 4.00 -5.00 -208 1.00 7.00 0.00 0.00 18 0.00
Total Other Income / (Expense), net		 -153 -184 -177 -358 -202 -239 -149 -153 -176 -233 -245
Interest Expense		 173 86 210 365 213 245 163 158 187 243 285
Other Income / (Expense), net		 14 4.00 30 3.00 5.00 6.00 14 4.00 10 42 40
Income Tax Expense		 65 171 184 314 -247 72 235 -49 86 -2.00 -42
Preferred Stock Dividends Declared		 17 16 17 17 17 16 17 17 17 16 17
Basic Earnings per Share		 $1.42 $2.02 $2.36 $3.47 ($3.79) $3.10 $3.70 ($0.62) $0.70 $0.31 $0.52
Weighted Average Basic Shares Outstanding		 230M 228M 209M 208M 207M 206M 198M 196M 193M 195M 207M
Diluted Earnings per Share		 $1.41 $2.04 $2.31 $3.37 ($3.79) $3.10 $3.61 ($0.62) $0.69 $0.33 $0.52
Weighted Average Diluted Shares Outstanding		 232M 228M 214M 214M 207M 212M 203M 196M 195M 199M 208M
Weighted Average Basic & Diluted Shares Outstanding		 225.76M 208.02M 208.48M 206.38M 202.57M 198.07M 195.51M 193.43M 191.64M 214.68M 210.99M
Cash Dividends to Common per Share		 $0.38 - $0.41 - - - $0.44 - - - $0.48

Annual Cash Flow Statements for NRG Energy

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -549 950 -561 -234 -130 3,545 -2,820 1,068 -1,529 524 3,825
Net Cash From Operating Activities		 1,349 1,908 1,610 1,377 1,413 1,837 493 360 -221 2,306 1,913
Net Cash From Continuing Operating Activities		 1,287 1,437 856 1,003 1,405 1,837 493 360 -221 2,306 1,913
Net Income / (Loss) Continuing Operations		 -6,331 -956 -1,345 460 4,120 510 2,187 1,221 -202 1,125 864
Consolidated Net Income / (Loss)		 -6,436 -891 -2,337 268 4,441 510 2,187 1,221 -202 1,125 864
Depreciation Expense		 1,351 - 596 421 373 435 785 634 1,127 1,071 896
Amortization Expense		 243 150 134 148 150 172 196 321 404 476 658
Non-Cash Adjustments To Reconcile Net Income		 5,015 1,865 1,815 255 321 455 1,926 1,790 -3,137 915 408
Changes in Operating Assets and Liabilities, net		 1,009 378 -344 -281 -3,559 265 -4,601 -3,606 1,587 -1,281 -913
Net Cash From Investing Activities		 -1,528 -757 -639 -205 556 -494 -3,039 -332 -910 -24 -1,638
Net Cash From Continuing Investing Activities		 -1,269 -369 340 520 558 -494 -3,039 -332 -910 -24 -1,638
Purchase of Property, Plant & Equipment		 -1,029 -544 -254 -388 -228 -230 -269 -367 -598 -472 -1,147
Acquisitions		 10 -1.00 -14 -268 - -284 -3,559 -62 -2,523 -38 -596
Purchase of Investments		 -1,024 -584 -569 -572 -507 -490 -751 -454 -367 0.00 0.00
Sale of Property, Plant & Equipment		 27 241 430 1,564 1,294 81 830 109 2,007 501 6.00
Sale and/or Maturity of Investments		 631 510 501 513 381 439 710 448 355 0.00 0.00
Other Investing Activities, net		 116 9.00 180 -329 -382 -10 0.00 -6.00 216 -15 99
Net Cash From Financing Activities		 -432 -768 -1,138 -1,526 -2,148 2,204 -272 1,043 -400 -1,755 3,546
Net Cash From Continuing Financing Activities		 -377 -1,251 -969 -1,997 -2,191 2,204 -272 1,043 -400 -1,755 3,546
Repayment of Debt		 -1,405 -5,335 -1,952 -1,789 -2,549 -498 -1,944 -14 -3,575 -4,612 -1,083
Repurchase of Common Equity		 -437 0.00 0.00 -1,250 -1,440 -229 -48 -600 -1,150 -935 -1,311
Payment of Dividends		 -154 -103 -193 -79 -34 -297 -319 -332 -381 -405 -411
Issuance of Debt		 1,004 4,412 1,178 1,100 1,833 3,234 1,100 0.00 3,751 4,250 6,676
Issuance of Preferred Equity		 - - - - - - 0.00 0.00 635 0.00 0.00
Other Financing Activities, net		 614 0.00 - - -4.00 -7.00 938 1,989 320 -53 -325
Effect of Exchange Rate Changes		 - 1.00 - - - -2.00 -2.00 -3.00 2.00 -3.00 4.00

Quarterly Cash Flow Statements for NRG Energy

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -138 -26 -115 546 46 47 265 -795 442 3,913 -4,587
Net Cash From Operating Activities		 566 241 267 1,056 31 952 855 451 484 123 -169
Net Cash From Continuing Operating Activities		 566 241 267 1,056 31 952 855 451 484 123 -169
Net Income / (Loss) Continuing Operations		 343 482 511 738 -767 643 750 -104 152 66 125
Consolidated Net Income / (Loss)		 343 482 511 738 -767 643 750 -104 152 66 125
Depreciation Expense		 308 314 268 285 261 257 218 226 223 229 277
Amortization Expense		 134 101 154 5.00 252 130 158 132 172 196 196
Non-Cash Adjustments To Reconcile Net Income		 280 -1,848 463 669 -801 584 606 -294 -14 111 -32
Changes in Operating Assets and Liabilities, net		 -499 1,192 -1,129 -641 1,086 -662 -877 491 -49 -479 -735
Net Cash From Investing Activities		 -129 1,721 -92 -109 364 -187 -134 -948 -258 -298 -7,072
Net Cash From Continuing Investing Activities		 -129 1,721 -92 -109 364 -187 -134 -948 -258 -298 -7,072
Purchase of Property, Plant & Equipment		 -169 -105 -91 -103 -114 -186 -217 -358 -254 -298 -317
Acquisitions		 -4.00 -21 - -10 -1.00 -5.00 -20 - -5.00 -5.00 -6,755
Sale of Property, Plant & Equipment		 - 1,778 3.00 8.00 484 6.00 6.00 - - - 0.00
Other Investing Activities, net		 52 68 -4.00 -4.00 -5.00 -2.00 97 -4.00 1.00 5.00 0.00
Net Cash From Financing Activities		 -572 -1,990 -288 -403 -350 -714 -458 -297 215 4,086 2,652
Net Cash From Continuing Financing Activities		 -572 -1,990 -288 -403 -350 -714 -458 -297 215 4,086 2,652
Repayment of Debt		 -1,362 -511 -680 -1,170 -431 -1,281 -8.00 -763 -1,108 796 -1,579
Repurchase of Common Equity		 -50 -1,100 0.00 - -226 -619 -314 -289 -355 -353 -481
Payment of Dividends		 -121 -86 -118 -86 -118 -83 -121 -86 -119 -85 -135
Issuance of Debt		 950 -300 525 975 425 1,275 0.00 865 2,085 3,726 4,907
Other Financing Activities, net		 11 7.00 -15 -32 - -6.00 -15 -24 -288 2.00 -60
Effect of Exchange Rate Changes		 -3.00 2.00 -2.00 2.00 1.00 -4.00 2.00 -1.00 1.00 2.00 2.00

Annual Balance Sheets for NRG Energy

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 32,882 30,682 23,355 10,628 12,531 14,902 23,182 29,146 26,038 24,022 29,140
Total Current Assets		 7,391 6,714 4,437 3,600 3,088 6,028 10,841 16,231 9,727 8,964 13,147
Cash & Equivalents		 1,518 938 770 563 345 3,905 250 430 541 966 4,708
Restricted Cash		 414 446 279 17 8.00 6.00 15 40 24 8.00 30
Short-Term Investments		 1,915 1,067 624 764 860 560 4,613 7,886 3,862 2,686 2,189
Accounts Receivable		 1,157 1,058 1,080 1,024 1,025 904 3,245 4,773 3,542 3,488 4,065
Inventories, net		 1,252 721 453 412 383 327 498 751 607 478 461
Prepaid Expenses		 455 404 163 302 245 257 395 383 626 830 1,069
Other Current Assets		 674 152 208 320 222 69 1,825 1,968 525 508 625
Plant, Property, & Equipment, net		 18,732 15,369 5,974 3,048 0.00 2,547 1,688 1,692 1,763 2,021 3,632
Total Noncurrent Assets		 6,759 8,599 12,944 3,903 9,443 6,327 10,653 11,223 14,548 13,037 12,361
Goodwill		 999 662 539 573 579 579 1,795 1,650 5,079 5,011 5,017
Intangible Assets		 2,310 1,973 507 591 789 668 2,511 2,132 3,927 2,908 2,309
Noncurrent Deferred & Refundable Income Taxes		 167 225 6.00 46 3,286 3,066 2,155 1,881 2,251 2,067 1,843
Other Noncurrent Operating Assets		 2,080 1,632 1,161 1,269 3,937 1,367 3,764 5,202 3,070 2,855 3,192
Total Liabilities & Shareholders' Equity		 32,882 30,682 23,355 10,628 12,531 14,902 23,182 29,146 26,038 24,022 29,140
Total Liabilities		 27,117 26,190 21,309 11,843 10,853 13,222 19,582 25,318 23,132 21,544 27,459
Total Current Liabilities		 4,375 4,702 3,354 2,398 2,359 1,915 7,915 12,982 9,500 8,813 8,029
Short-Term Debt		 481 516 204 72 88 1.00 4.00 63 620 996 31
Accounts Payable		 869 813 741 863 722 649 2,274 3,643 2,325 2,513 2,834
Accrued Expenses		 568 810 756 680 663 678 1,324 1,114 1,642 2,031 1,864
Current Deferred Revenue		 - - - - - - - 176 720 711 748
Other Current Liabilities		 2,213 1,173 735 706 886 587 4,313 7,986 4,193 2,562 2,552
Total Noncurrent Liabilities		 22,742 21,488 17,955 9,445 8,514 11,307 11,667 12,336 13,632 12,731 19,430
Long-Term Debt		 18,983 15,957 9,180 6,449 5,803 8,691 7,966 7,976 10,133 9,812 16,412
Noncurrent Deferred Revenue		 - - - - - - - 10 914 862 895
Noncurrent Deferred & Payable Income Tax Liabilities		 19 20 21 65 17 19 73 134 22 12 15
Other Noncurrent Operating Liabilities		 1,676 1,519 1,221 1,949 2,396 2,294 3,307 3,876 2,563 2,045 2,108
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		 5,434 4,446 1,968 -1,234 1,658 1,680 3,600 3,828 2,906 2,478 1,681
Total Preferred & Common Equity		 2,707 2,041 -346 -1,234 1,658 1,680 3,600 3,828 2,906 2,478 1,681
Preferred Stock		 - - - - - - - 0.00 650 650 650
Total Common Equity		 2,707 2,041 -346 -1,234 1,658 1,680 3,600 3,828 2,256 1,828 1,031
Common Stock		 8,300 8,362 8,380 8,514 8,505 8,521 8,535 8,461 3,419 707 217
Retained Earnings		 -3,007 -3,787 -6,268 -6,022 -1,616 -1,403 464 1,408 820 1,535 1,982
Treasury Stock		 -2,413 -2,399 -2,386 -3,632 -5,039 -5,232 -5,273 -5,864 -1,892 -297 -1,087
Accumulated Other Comprehensive Income / (Loss)		 -173 -135 -72 -94 -192 -206 -126 -177 -91 -117 -81

Quarterly Balance Sheets for NRG Energy

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 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 9/30/2025 3/31/2026
Total Assets		 28,991 27,910 26,038 25,401 25,762 23,724 24,022 24,991 24,088 23,971 40,053
Total Current Assets		 10,121 9,468 9,727 9,268 9,806 8,611 8,964 9,875 8,195 8,124 9,922
Cash & Equivalents		 422 401 541 278 376 1,104 966 693 180 732 178
Restricted Cash		 26 11 24 15 16 10 8.00 15 17 30 57
Short-Term Investments		 4,423 3,710 3,862 3,807 3,520 2,456 2,686 3,436 2,332 1,928 3,081
Accounts Receivable		 3,274 3,764 3,542 3,325 3,402 3,258 3,488 3,512 3,421 3,332 3,777
Inventories, net		 686 630 607 581 623 540 478 373 451 452 665
Prepaid Expenses		 580 601 626 712 797 782 830 899 987 969 1,382
Other Current Assets		 635 265 525 550 1,072 461 508 947 807 681 782
Plant, Property, & Equipment, net		 1,706 1,779 1,763 1,768 1,790 1,818 2,021 2,223 3,192 3,396 13,533
Total Noncurrent Assets		 17,164 16,663 14,548 14,365 14,166 13,295 13,037 12,893 12,701 12,451 16,598
Goodwill		 5,143 5,143 5,079 5,076 5,060 5,018 5,011 5,012 5,017 5,015 8,881
Intangible Assets		 4,343 4,206 3,927 3,726 3,413 3,087 2,908 2,850 2,509 2,431 2,462
Noncurrent Deferred & Refundable Income Taxes		 2,711 2,540 2,251 2,100 1,841 2,098 2,067 1,923 1,935 1,855 1,796
Other Noncurrent Operating Assets		 3,667 3,475 3,070 3,420 3,807 3,043 2,855 3,061 3,193 3,102 3,459
Total Liabilities & Shareholders' Equity		 28,991 27,910 26,038 25,401 25,762 23,724 24,022 24,991 24,088 23,971 40,053
Total Liabilities		 25,659 24,392 23,132 22,104 22,139 21,204 21,544 22,214 21,800 22,001 35,179
Total Current Liabilities		 9,876 8,930 9,500 9,176 8,302 7,348 8,813 9,300 8,781 7,713 11,847
Short-Term Debt		 1,410 1,011 620 1,101 262 258 996 997 1,132 777 3,375
Accounts Payable		 2,107 2,200 2,325 2,027 2,109 1,994 2,513 2,356 2,544 2,319 2,485
Accrued Expenses		 1,395 1,553 1,642 1,412 1,709 1,895 2,031 1,880 1,952 1,668 1,816
Current Deferred Revenue		 731 731 720 710 779 761 711 690 715 710 727
Other Current Liabilities		 4,197 3,391 4,193 3,926 3,443 2,440 2,562 3,377 2,438 2,239 3,444
Total Noncurrent Liabilities		 15,783 15,462 13,632 12,928 13,837 13,856 12,731 12,914 13,019 14,288 23,332
Long-Term Debt		 10,737 10,741 10,133 9,559 10,425 10,422 9,812 9,812 9,812 11,155 19,779
Noncurrent Deferred Revenue		 927 989 914 859 906 919 862 830 905 942 868
Noncurrent Deferred & Payable Income Tax Liabilities		 130 129 22 8.00 8.00 8.00 12 12 12 12 139
Other Noncurrent Operating Liabilities		 2,877 2,529 2,563 2,502 2,498 2,507 2,045 2,260 2,290 2,179 2,546
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		 3,332 3,518 2,906 3,297 3,623 2,520 2,478 2,777 2,288 1,970 4,874
Total Preferred & Common Equity		 3,332 3,518 2,906 3,297 3,623 2,520 2,478 2,777 2,288 1,970 4,874
Preferred Stock		 650 650 650 650 650 650 650 650 650 650 650
Total Common Equity		 2,682 2,868 2,256 2,647 2,973 1,870 1,828 2,127 1,638 1,320 4,224
Common Stock		 8,508 8,531 3,419 3,506 3,232 3,148 707 520 307 168 3,870
Retained Earnings		 205 425 820 1,212 1,863 977 1,535 2,162 1,970 2,002 1,969
Treasury Stock		 -5,861 -5,911 -1,892 -1,971 -2,019 -2,150 -297 -440 -538 -745 -1,531
Accumulated Other Comprehensive Income / (Loss)		 -170 -177 -91 -100 -103 -105 -117 -115 -101 -105 -84

Annual Metrics And Ratios for NRG Energy

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -21.09% -27.26% 0.58% 3.46% 3.62% -7.41% 196.81% 16.87% -8.62% -2.40% 9.18%
EBITDA Growth		 -183.42% 109.46% -82.61% 3,822.50% 19.76% -5.32% 146.49% -30.92% -35.23% 104.64% -13.65%
EBIT Growth		 -411.29% 101.99% -962.50% 244.93% 35.60% -13.57% 190.44% -39.07% -79.22% 472.62% -22.49%
NOPAT Growth		 -328.18% 100.81% -2,345.45% 286.48% 599.06% -89.05% 245.11% -42.03% -81.86% 600.63% -25.36%
Net Income Growth		 -4,975.76% 86.16% -162.29% 111.47% 1,557.09% -88.52% 328.82% -44.17% -116.54% 656.93% -23.20%
EPS Growth		 -8,560.87% 88.59% -205.86% 112.81% 1,832.18% -87.69% 331.40% -42.11% -121.66% 545.54% -19.64%
Operating Cash Flow Growth		 -10.66% 41.44% -15.62% -14.47% 2.61% 30.01% -73.16% -26.98% -161.39% 1,143.44% -17.04%
Free Cash Flow Firm Growth		 205.73% 33.61% 133.86% -64.23% 13.11% -77.52% 59.26% 197.12% -221.70% 126.20% -114.70%
Invested Capital Growth		 -22.43% -21.00% -65.52% -48.39% 80.39% -4.19% 19.22% -49.66% 185.79% 4.65% 17.19%
Revenue Q/Q Growth		 -21.03% -7.55% 14.17% 8.48% 2.11% -1.81% 22.84% 2.63% -3.51% 0.04% 3.14%
EBITDA Q/Q Growth		 -184.03% 109.49% 147.62% 496.21% 38.47% -11.67% -8.19% -20.46% 609.61% 6.90% -14.40%
EBIT Q/Q Growth		 -442.26% 102.11% -350.98% 308.77% 12.91% -16.23% -11.84% -28.73% 125.29% 5.07% -24.51%
NOPAT Q/Q Growth		 -715.32% 100.90% -104.70% 387.88% 495.21% -86.32% -8.73% -32.44% 121.69% 17.37% -30.40%
Net Income Q/Q Growth		 -33,973.68% 85.62% -34.54% 119.49% 325.38% -87.46% -10.41% -35.36% 88.65% 16.70% -40.04%
EPS Q/Q Growth		 0.00% 87.88% -33.40% 121.97% 327.74% -86.79% -10.34% -34.39% 85.28% 26.97% -40.86%
Operating Cash Flow Q/Q Growth		 -24.55% 12.37% 78.29% -29.06% 17.07% -3.42% -78.62% -9.09% 88.12% 44.58% -30.23%
Free Cash Flow Firm Q/Q Growth		 82.55% 42.36% 204.32% -70.49% 118.07% -54.53% -72.73% 40.14% 41.98% -49.59% -149.28%
Invested Capital Q/Q Growth		 -19.36% -18.81% -65.91% -24.09% 73.49% -18.39% 75.41% 26.78% -17.19% -1.58% -1.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 28.12% 26.70% 24.83% 25.01% 24.67% 26.89% 21.52% 12.96% 7.25% 20.32% 19.38%
EBITDA Margin		 -19.42% 2.53% 0.44% 16.55% 19.13% 19.56% 16.25% 9.60% 6.81% 14.27% 11.29%
Operating Margin		 -32.35% 0.36% -8.09% 10.36% 13.14% 12.15% 12.38% 6.40% 1.33% 8.62% 6.01%
EBIT Margin		 -32.15% 0.88% -7.53% 10.55% 13.81% 12.89% 12.61% 6.58% 1.50% 8.77% 6.23%
Profit (Net Income) Margin		 -51.40% -9.78% -25.51% 2.83% 45.22% 5.61% 8.10% 3.87% -0.70% 4.00% 2.81%
Tax Burden Percent		 129.08% 95.70% 168.25% 57.39% 565.01% 67.02% 76.50% 73.42% 94.84% 77.69% 76.19%
Interest Burden Percent		 123.88% -1,163.75% 201.30% 46.70% 57.96% 64.93% 83.99% 80.18% -49.42% 58.67% 59.28%
Effective Tax Rate		 0.00% 0.00% 0.00% 1.50% -424.17% 32.98% 23.50% 26.58% 0.00% 22.31% 23.81%
Return on Invested Capital (ROIC)		 -11.46% 0.12% -4.52% 21.66% 158.65% 13.79% 44.38% 31.47% 4.42% 20.43% 13.73%
ROIC Less NNEP Spread (ROIC-NNEP)		 -34.15% -6.31% -26.65% 4.40% 101.21% 7.56% 32.56% 5.26% -12.92% 8.81% 7.09%
Return on Net Nonoperating Assets (RNNOA)		 -61.05% -17.49% -66.97% 42.84% 1,846.31% 16.76% 38.46% 1.41% -10.42% 21.37% 27.82%
Return on Equity (ROE)		 -72.51% -17.37% -71.49% 64.50% 2,004.97% 30.56% 82.84% 32.88% -6.00% 41.79% 41.55%
Cash Return on Invested Capital (CROIC)		 13.80% 23.58% 92.92% 85.49% 101.31% 18.08% 26.84% 97.54% -91.90% 15.88% -2.10%
Operating Return on Assets (OROA)		 -10.98% 0.25% -2.55% 5.89% 11.71% 8.54% 17.88% 7.93% 1.56% 9.86% 7.20%
Return on Assets (ROA)		 -17.55% -2.80% -8.65% 1.58% 38.35% 3.72% 11.49% 4.67% -0.73% 4.49% 3.25%
Return on Common Equity (ROCE)		 -50.94% -8.04% -18.53% -122.64% 1,918.97% 30.56% 82.84% 32.88% -5.42% 31.70% 28.56%
Return on Equity Simple (ROE_SIMPLE)		 -237.75% -43.66% 675.43% -21.72% 267.85% 30.36% 60.75% 31.90% -6.95% 45.40% 0.00%
Net Operating Profit after Tax (NOPAT)		 -2,836 23 -519 967 6,762 741 2,556 1,482 269 1,883 1,406
NOPAT Margin		 -22.65% 0.25% -5.66% 10.21% 68.85% 8.14% 9.47% 4.70% 0.93% 6.69% 4.58%
Net Nonoperating Expense Percent (NNEP)		 22.69% 6.43% 22.13% 17.27% 57.44% 6.23% 11.82% 26.21% 17.34% 11.62% 6.64%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 12.49% 1.97% 14.18% 7.76%
Cost of Revenue to Revenue		 71.88% 73.30% 75.17% 74.99% 75.33% 73.11% 78.48% 87.04% 92.75% 79.68% 80.62%
SG&A Expenses to Revenue		 9.81% 11.33% 9.13% 8.43% 7.74% 8.91% 4.79% 3.63% 6.39% 7.22% 8.47%
R&D to Revenue		 1.23% 0.53% 0.24% 0.12% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 60.47% 26.34% 32.92% 14.64% 11.54% 14.74% 9.14% 6.57% 5.92% 11.70% 13.37%
Earnings before Interest and Taxes (EBIT)		 -4,025 80 -690 1,000 1,356 1,172 3,404 2,074 431 2,468 1,913
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -2,431 230 40 1,569 1,879 1,779 4,385 3,029 1,962 4,015 3,467
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.12 1.59 0.00 0.00 5.12 4.80 2.66 1.79 5.03 9.95 29.51
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 29.28 18.63 0.00 148.76 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.24 0.36 0.83 1.03 0.86 0.89 0.36 0.22 0.39 0.65 0.99
Price to Earnings (P/E)		 0.00 0.00 0.00 36.27 1.91 15.82 4.38 5.60 0.00 17.20 38.17
Dividend Yield		 6.01% 2.29% 0.50% 0.36% 0.36% 3.63% 3.32% 4.71% 3.00% 1.81% 1.11%
Earnings Yield		 0.00% 0.00% 0.00% 2.76% 52.26% 6.32% 22.81% 17.84% 0.00% 5.81% 2.62%
Enterprise Value to Invested Capital (EV/IC)		 1.01 1.09 2.98 4.77 2.33 2.27 2.00 2.03 2.03 2.75 3.67
Enterprise Value to Revenue (EV/Rev)		 1.74 2.04 1.91 1.53 1.30 1.31 0.46 0.20 0.63 0.92 1.32
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 80.85 438.13 9.24 6.80 6.71 2.86 2.11 9.32 6.46 11.70
Enterprise Value to EBIT (EV/EBIT)		 0.00 232.43 0.00 14.50 9.43 10.19 3.68 3.08 42.44 10.51 21.21
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 804.96 0.00 14.99 1.89 16.13 4.90 4.31 68.05 13.78 28.86
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.17 9.75 10.89 10.53 9.05 6.50 25.40 17.76 0.00 11.25 21.21
Enterprise Value to Free Cash Flow (EV/FCFF)		 6.39 4.08 1.64 3.80 2.96 12.30 8.10 1.39 0.00 17.72 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 3.58 3.67 4.59 -5.37 3.55 5.17 2.21 2.10 3.70 4.36 9.78
Long-Term Debt to Equity		 3.49 3.55 4.49 -5.31 3.50 5.17 2.21 2.08 3.49 3.96 9.76
Financial Leverage		 1.79 2.77 2.51 9.75 18.24 2.22 1.18 0.27 0.81 2.43 3.92
Leverage Ratio		 4.13 6.20 8.27 40.89 52.28 8.22 7.21 7.04 8.19 9.30 12.78
Compound Leverage Factor		 5.12 -72.12 16.64 19.10 30.30 5.34 6.06 5.65 -4.05 5.46 7.58
Debt to Total Capital		 78.14% 78.57% 82.10% 122.90% 78.04% 83.80% 68.89% 67.74% 78.72% 81.35% 90.73%
Short-Term Debt to Total Capital		 1.82% 2.46% 1.78% 1.36% 1.17% 0.01% 0.03% 0.53% 4.54% 7.50% 0.17%
Long-Term Debt to Total Capital		 76.32% 76.11% 80.32% 121.54% 76.87% 83.79% 68.85% 67.21% 74.19% 73.85% 90.55%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4.76% 4.89% 3.59%
Noncontrolling Interests to Total Capital		 11.59% 11.69% 20.93% 0.36% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 10.26% 9.74% -3.03% -23.26% 21.96% 16.20% 31.12% 32.26% 16.52% 13.76% 5.69%
Debt to EBITDA		 -8.48 71.62 234.60 4.16 3.14 4.89 1.82 2.65 5.48 2.69 4.74
Net Debt to EBITDA		 -6.47 56.10 188.23 3.04 2.28 2.18 0.67 -0.15 3.20 1.77 2.74
Long-Term Debt to EBITDA		 -8.28 69.38 229.50 4.11 3.09 4.89 1.82 2.63 5.16 2.44 4.73
Debt to NOPAT		 -7.27 713.12 -18.09 6.74 0.87 11.74 3.12 5.43 40.00 5.74 11.70
Net Debt to NOPAT		 -5.54 558.53 -14.52 4.93 0.63 5.23 1.15 -0.30 23.38 3.77 6.76
Long-Term Debt to NOPAT		 -7.10 690.78 -17.70 6.67 0.86 11.74 3.12 5.38 37.70 5.21 11.68
Altman Z-Score		 0.03 0.29 0.19 1.04 1.50 1.44 2.12 1.68 1.51 2.11 2.24
Noncontrolling Interest Sharing Ratio		 29.76% 53.71% 74.07% 290.13% 4.29% 0.00% 0.00% 0.00% 9.65% 24.15% 31.26%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.69 1.43 1.32 1.50 1.31 3.15 1.37 1.25 1.02 1.02 1.64
Quick Ratio		 1.05 0.65 0.74 0.98 0.95 2.80 1.02 1.01 0.84 0.81 1.37
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 3,415 4,563 10,671 3,817 4,318 971 1,546 4,593 -5,589 1,464 -215
Operating Cash Flow to CapEx		 134.63% 629.70% 0.00% 0.00% 0.00% 1,232.89% 0.00% 139.53% 0.00% 0.00% 167.66%
Free Cash Flow to Firm to Interest Expense		 3.68 6.29 17.61 7.24 9.31 2.37 2.75 11.01 -10.02 1.42 -0.29
Operating Cash Flow to Interest Expense		 1.46 2.63 2.66 2.61 3.05 4.48 0.88 0.86 -0.40 2.23 2.55
Operating Cash Flow Less CapEx to Interest Expense		 0.37 2.21 2.95 4.84 5.34 4.12 1.88 0.24 2.13 2.26 1.03
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.34 0.29 0.34 0.56 0.85 0.66 1.42 1.21 1.04 1.12 1.16
Accounts Receivable Turnover		 10.10 8.22 8.57 9.01 9.59 9.43 13.01 7.87 6.93 8.00 8.13
Inventory Turnover		 7.20 6.77 11.73 16.43 18.61 18.73 51.35 43.96 39.37 41.32 52.74
Fixed Asset Turnover		 0.61 0.53 0.86 2.10 0.00 0.00 12.75 18.66 16.68 14.87 10.87
Accounts Payable Turnover		 9.33 7.94 8.86 8.86 9.34 9.70 14.49 9.28 8.96 9.27 9.26
Days Sales Outstanding (DSO)		 36.13 44.38 42.59 40.51 38.08 38.72 28.06 46.39 52.65 45.61 44.88
Days Inventory Outstanding (DIO)		 50.67 53.94 31.11 22.21 19.61 19.49 7.11 8.30 9.27 8.83 6.92
Days Payable Outstanding (DPO)		 39.12 45.98 41.19 41.18 39.10 37.64 25.19 39.33 40.74 39.39 39.41
Cash Conversion Cycle (CCC)		 47.69 52.34 32.52 21.54 18.59 20.57 9.98 15.36 21.18 15.05 12.39
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 21,620 17,080 5,890 3,040 5,484 5,254 6,264 3,153 9,011 9,430 11,051
Invested Capital Turnover		 0.51 0.47 0.80 2.12 2.30 1.69 4.69 6.70 4.74 3.05 3.00
Increase / (Decrease) in Invested Capital		 -6,251 -4,540 -11,190 -2,850 2,444 -230 1,010 -3,111 5,858 419 1,621
Enterprise Value (EV)		 21,809 18,595 17,525 14,503 12,782 11,942 12,522 6,393 18,291 25,950 40,572
Market Capitalization		 3,033 3,242 7,604 9,719 8,492 8,067 9,587 6,843 11,357 18,197 30,422
Book Value per Share		 $8.62 $6.47 ($1.09) ($4.26) $6.59 $6.88 $14.70 $16.62 $9.99 $9.02 $5.38
Tangible Book Value per Share		 ($1.92) ($1.88) ($4.40) ($8.27) $1.15 $1.77 ($2.88) $0.20 ($29.90) ($30.07) ($32.85)
Total Capital		 26,375 20,965 11,430 5,306 7,549 10,372 11,570 11,867 13,659 13,286 18,124
Total Debt		 20,610 16,473 9,384 6,521 5,891 8,692 7,970 8,039 10,753 10,808 16,443
Total Long-Term Debt		 20,129 15,957 9,180 6,449 5,803 8,691 7,966 7,976 10,133 9,812 16,412
Net Debt		 15,718 12,902 7,529 4,765 4,290 3,875 2,935 -450 6,284 7,103 9,500
Capital Expenditures (CapEx)		 1,002 303 -176 -1,176 -1,066 149 -561 258 -1,409 -29 1,141
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -350 77 -386 -70 -396 -357 -1,948 -5,044 -3,580 -2,513 -1,778
Debt-free Net Working Capital (DFNWC)		 3,497 2,528 1,287 1,274 817 4,114 2,930 3,312 847 1,147 5,149
Net Working Capital (NWC)		 3,016 2,012 1,083 1,202 729 4,113 2,926 3,249 227 151 5,118
Net Nonoperating Expense (NNE)		 3,600 914 1,818 699 2,321 231 369 261 471 758 542
Net Nonoperating Obligations (NNO)		 15,855 12,588 3,844 4,255 3,826 3,574 2,664 -675 6,105 6,952 9,370
Total Depreciation and Amortization (D&A)		 1,594 150 730 569 523 607 981 955 1,531 1,547 1,554
Debt-free, Cash-free Net Working Capital to Revenue		 -2.80% 0.85% -4.21% -0.74% -4.03% -3.93% -7.22% -15.99% -12.42% -8.93% -5.79%
Debt-free Net Working Capital to Revenue		 27.93% 27.76% 14.05% 13.44% 8.32% 45.24% 10.86% 10.50% 2.94% 4.08% 16.76%
Net Working Capital to Revenue		 24.09% 22.09% 11.82% 12.68% 7.42% 45.23% 10.84% 10.30% 0.79% 0.54% 16.66%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($2.22) ($6.79) $0.88 $16.94 $2.08 $8.93 $5.17 ($1.12) $5.14 $4.09
Adjusted Weighted Average Basic Shares Outstanding		 0.00 316M 0.00 304M 262M 245M 245M 236M 228M 206M 195M
Adjusted Diluted Earnings per Share		 $0.00 ($2.22) ($6.79) $0.87 $16.81 $2.07 $8.93 $5.17 ($1.12) $4.99 $4.01
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 316M 317.64M 308M 264M 246M 245M 236M 228M 212M 199M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($6.79) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 315.97M 317.64M 281.00M 247.66M 244.69M 242.15M 229.77M 208.02M 198.07M 214.68M
Normalized Net Operating Profit after Tax (NOPAT)		 552 417 575 1,122 903 804 2,854 1,633 -734 1,773 1,481
Normalized NOPAT Margin		 4.41% 4.58% 6.27% 11.84% 9.19% 8.84% 10.57% 5.18% -2.55% 6.30% 4.82%
Pre Tax Income Margin		 -39.82% -10.22% -15.16% 4.93% 8.00% 8.37% 10.59% 5.27% -0.74% 5.15% 3.69%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -4.34 0.11 -1.14 1.90 2.92 2.86 6.06 4.97 0.77 2.39 2.55
NOPAT to Interest Expense		 -3.06 0.03 -0.86 1.84 14.57 1.81 4.55 3.55 0.48 1.82 1.87
EBIT Less CapEx to Interest Expense		 -5.42 -0.31 -0.85 4.13 5.22 2.50 7.06 4.35 3.30 2.42 1.03
NOPAT Less CapEx to Interest Expense		 -4.14 -0.39 -0.57 4.07 16.87 1.44 5.55 2.93 3.01 1.85 0.35
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -2.39% -11.56% -8.26% 29.48% 0.77% 58.24% 14.59% 27.19% -188.61% 36.00% 47.57%
Augmented Payout Ratio		 -9.18% -11.56% -8.26% 495.90% 33.19% 103.14% 16.78% 76.33% -757.92% 119.11% 199.31%

Quarterly Metrics And Ratios for NRG Energy

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 214,677,543.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 214,677,543.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.50
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -6.63% -13.34% -3.79% 4.90% -9.10% 0.18% 15.56% 1.22% 5.70% 13.70% 19.46%
EBITDA Growth		 202.68% 224.98% 206.16% 94.63% -128.91% 7.25% 14.95% -79.64% 288.71% -43.28% -44.82%
EBIT Growth		 224.86% 164.99% 159.03% 160.22% -240.35% 14.15% 27.05% -99.72% 152.54% -64.69% -67.94%
NOPAT Growth		 274.52% 167.02% 159.32% 140.56% -220.52% 38.87% 34.67% -100.00% 146.52% -64.30% -42.79%
Net Income Growth		 411.94% 144.02% 138.28% 139.61% -323.62% 33.40% 46.77% -114.09% 119.82% -89.74% -83.33%
EPS Growth		 386.21% 145.84% 139.69% 169.60% -368.79% 51.96% 56.28% -118.40% 118.21% -89.35% -85.60%
Operating Cash Flow Growth		 139.55% 117.24% 116.71% 85.26% -94.52% 295.02% 220.22% -57.29% 1,461.29% -87.08% -119.77%
Free Cash Flow Firm Growth		 -754.78% -339.38% 112.19% 111.37% 109.23% 108.38% 29.78% -129.79% -280.23% -399.53% -1,255.83%
Invested Capital Growth		 337.52% 185.79% -3.42% -0.27% -11.95% 4.65% -4.27% 2.93% 16.52% 17.19% 163.03%
Revenue Q/Q Growth		 25.17% -14.33% 9.14% -10.36% 8.47% -5.59% 25.90% -21.49% 13.28% 1.55% 32.28%
EBITDA Q/Q Growth		 16.23% 23.50% 5.27% 35.27% -117.26% 558.16% 12.99% -76.22% 126.24% -6.72% 10.08%
EBIT Q/Q Growth		 5.89% 46.26% 7.25% 56.65% -157.11% 218.96% 19.38% -99.65% 10,500.00% -20.05% 8.55%
NOPAT Q/Q Growth		 14.70% 31.00% 3.78% 54.28% -157.46% 250.94% 0.64% -100.00% 0.00% 15.84% 61.28%
Net Income Q/Q Growth		 11.36% 40.52% 6.02% 44.42% -203.93% 183.83% 16.64% -113.87% 246.15% -56.58% 89.39%
EPS Q/Q Growth		 12.80% 44.68% 13.24% 45.89% -212.46% 181.79% 16.45% -117.17% 211.29% -52.17% 57.58%
Operating Cash Flow Q/Q Growth		 -0.70% -57.42% 10.79% 295.51% -97.06% 2,970.97% -10.19% -47.25% 7.32% -74.59% -237.40%
Free Cash Flow Firm Q/Q Growth		 11.47% 33.86% 118.23% 2.94% -28.07% -40.00% 192.17% -123.63% -335.18% 0.29% -1,027.47%
Invested Capital Q/Q Growth		 4.82% -17.19% 6.79% 5.49% -7.46% -1.58% -0.37% 13.42% 4.77% -1.01% 123.62%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 19.38% 3.22% 23.48% 34.58% -0.22% 24.71% 23.58% 16.48% 18.26% 18.35% 13.63%
EBITDA Margin		 12.80% 18.45% 16.95% 25.57% -4.07% 19.75% 17.73% 5.37% 10.73% 9.85% 8.20%
Operating Margin		 7.06% 12.30% 11.74% 21.17% -11.24% 13.99% 13.21% 0.00% 5.42% 3.83% 3.20%
EBIT Margin		 7.24% 12.35% 12.14% 21.22% -11.17% 14.08% 13.35% 0.06% 5.55% 4.37% 3.59%
Profit (Net Income) Margin		 4.32% 7.08% 6.88% 11.08% -10.62% 9.43% 8.74% -1.54% 1.99% 0.85% 1.22%
Tax Burden Percent		 84.07% 73.81% 73.53% 70.15% 75.64% 89.93% 76.14% 67.97% 63.87% 103.13% 150.60%
Interest Burden Percent		 70.96% 77.65% 77.05% 74.45% 125.65% 74.48% 85.95% -3,825.00% 56.13% 18.88% 22.55%
Effective Tax Rate		 15.93% 26.19% 26.47% 29.85% 0.00% 10.07% 23.86% 0.00% 36.13% -3.13% -50.60%
Return on Invested Capital (ROIC)		 26.53% 43.01% 24.65% 41.32% -21.63% 38.38% 30.67% 0.00% 9.94% 11.85% 9.15%
ROIC Less NNEP Spread (ROIC-NNEP)		 21.08% 38.01% 22.74% 37.68% -24.38% 35.09% 28.94% -1.38% 8.56% 8.90% 6.36%
Return on Net Nonoperating Assets (RNNOA)		 11.50% 30.65% 48.49% 74.65% -58.24% 85.10% 62.58% -3.52% 30.99% 34.94% 21.98%
Return on Equity (ROE)		 38.03% 73.66% 73.14% 115.97% -79.87% 123.49% 93.25% -3.52% 40.93% 46.79% 31.13%
Cash Return on Invested Capital (CROIC)		 -144.12% -91.90% 24.88% 26.49% 28.39% 15.88% 26.31% 9.01% 4.21% -2.10% -83.54%
Operating Return on Assets (OROA)		 7.19% 12.91% 12.57% 22.35% -12.17% 15.82% 15.52% 0.07% 6.93% 5.05% 3.57%
Return on Assets (ROA)		 4.29% 7.40% 7.12% 11.68% -11.57% 10.60% 10.15% -1.82% 2.49% 0.98% 1.21%
Return on Common Equity (ROCE)		 35.17% 66.55% 58.23% 94.30% -62.67% 93.67% 73.29% -2.75% 29.08% 32.17% 25.84%
Return on Equity Simple (ROE_SIMPLE)		 -50.57% 0.00% 49.86% 57.25% 38.25% 0.00% 49.12% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 472 618 641 989 -568 858 863 0.00 264 306 494
NOPAT Margin		 5.94% 9.08% 8.63% 14.85% -7.87% 12.58% 10.06% 0.00% 3.46% 3.95% 4.82%
Net Nonoperating Expense Percent (NNEP)		 5.45% 5.00% 1.91% 3.65% 2.75% 3.29% 1.73% 1.38% 1.38% 2.94% 2.79%
Return On Investment Capital (ROIC_SIMPLE)		 - 4.52% - - - 6.46% 6.36% 0.00% 1.90% 1.69% 1.76%
Cost of Revenue to Revenue		 80.62% 96.78% 76.52% 65.42% 100.22% 75.29% 76.42% 83.52% 81.74% 81.65% 86.37%
SG&A Expenses to Revenue		 7.58% 4.30% 7.96% 8.89% 8.93% 2.98% 6.39% 10.74% 8.02% 9.25% 5.78%
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		 12.32% -9.08% 11.74% 13.41% 11.02% 10.72% 10.37% 16.48% 12.84% 14.52% 10.43%
Earnings before Interest and Taxes (EBIT)		 575 841 902 1,413 -807 960 1,146 4.00 424 339 368
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,017 1,256 1,259 1,703 -294 1,347 1,522 362 819 764 841
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.98 5.03 5.71 5.43 10.01 9.95 8.85 19.12 23.67 29.51 7.40
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.29 0.39 0.53 0.56 0.67 0.65 0.64 1.07 1.05 0.99 0.97
Price to Earnings (P/E)		 0.00 0.00 9.58 8.04 20.87 17.20 14.52 68.82 22.74 38.17 181.84
Dividend Yield		 3.97% 3.00% 2.30% 2.03% 1.76% 1.81% 1.75% 1.06% 1.07% 1.11% 1.23%
Earnings Yield		 0.00% 0.00% 10.43% 12.43% 4.79% 5.81% 6.89% 1.45% 4.40% 2.62% 0.55%
Enterprise Value to Invested Capital (EV/IC)		 1.55 2.03 2.27 2.27 2.76 2.75 2.78 3.78 3.68 3.67 2.09
Enterprise Value to Revenue (EV/Rev)		 0.56 0.63 0.78 0.82 0.94 0.92 0.89 1.37 1.38 1.32 1.60
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 9.32 5.26 4.64 7.04 6.46 6.20 14.42 10.15 11.70 18.59
Enterprise Value to EBIT (EV/EBIT)		 0.00 42.44 7.79 6.31 11.25 10.51 9.62 30.95 16.22 21.21 45.69
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 68.05 10.42 8.65 16.47 13.78 12.38 32.27 20.34 28.86 48.36
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 13.55 11.04 16.57 11.25 9.02 17.62 14.99 21.21 58.23
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 8.97 8.57 9.10 17.72 10.33 42.60 94.07 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 3.38 3.70 3.23 2.95 4.24 4.36 3.89 4.78 6.06 9.78 4.75
Long-Term Debt to Equity		 3.10 3.49 2.90 2.88 4.14 3.96 3.53 4.29 5.66 9.76 4.06
Financial Leverage		 0.55 0.81 2.13 1.98 2.39 2.43 2.16 2.55 3.62 3.92 3.46
Leverage Ratio		 6.96 8.19 8.64 7.87 8.55 9.30 8.30 8.43 10.62 12.78 8.50
Compound Leverage Factor		 4.94 6.36 6.66 5.86 10.75 6.93 7.13 -322.58 5.96 2.41 1.92
Debt to Total Capital		 77.18% 78.72% 76.38% 74.68% 80.91% 81.35% 79.56% 82.71% 85.83% 90.73% 82.61%
Short-Term Debt to Total Capital		 6.56% 4.54% 7.89% 1.83% 1.95% 7.50% 7.34% 8.56% 5.59% 0.17% 12.04%
Long-Term Debt to Total Capital		 70.63% 74.19% 68.49% 72.85% 78.95% 73.85% 72.22% 74.15% 80.24% 90.55% 70.57%
Preferred Equity to Total Capital		 4.22% 4.76% 4.66% 4.54% 4.92% 4.89% 4.78% 4.91% 4.68% 3.59% 2.32%
Noncontrolling Interests 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%
Common Equity to Total Capital		 18.60% 16.52% 18.97% 20.78% 14.17% 13.76% 15.66% 12.38% 9.50% 5.69% 15.07%
Debt to EBITDA		 -30.91 5.48 2.51 2.11 2.84 2.69 2.57 3.91 2.95 4.74 8.32
Net Debt to EBITDA		 -19.82 3.20 1.54 1.33 1.88 1.77 1.57 2.99 2.27 2.74 7.13
Long-Term Debt to EBITDA		 -28.28 5.16 2.26 2.06 2.77 2.44 2.33 3.51 2.75 4.73 7.10
Debt to NOPAT		 -9.60 40.00 4.99 3.93 6.66 5.74 5.13 8.76 5.91 11.70 21.63
Net Debt to NOPAT		 -6.16 23.38 3.05 2.48 4.40 3.77 3.14 6.70 4.55 6.76 18.53
Long-Term Debt to NOPAT		 -8.79 37.70 4.47 3.84 6.50 5.21 4.65 7.85 5.52 11.68 18.48
Altman Z-Score		 1.39 1.56 1.72 1.91 1.72 1.91 1.98 2.17 2.29 2.06 1.38
Noncontrolling Interest Sharing Ratio		 7.52% 9.65% 20.39% 18.69% 21.53% 24.15% 21.40% 21.99% 28.95% 31.26% 16.99%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.06 1.02 1.01 1.18 1.17 1.02 1.06 0.93 1.05 1.64 0.84
Quick Ratio		 0.88 0.84 0.81 0.88 0.93 0.81 0.82 0.68 0.78 1.37 0.59
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -7,922 -5,240 988 1,017 732 439 1,282 -303 -1,319 -1,315 -14,823
Operating Cash Flow to CapEx		 334.91% 0.00% 404.55% 1,111.58% 0.00% 528.89% 370.13% 125.98% 190.55% 41.28% -53.31%
Free Cash Flow to Firm to Interest Expense		 -45.79 -60.93 4.71 2.79 3.43 1.79 7.87 -1.92 -7.05 -5.41 -52.01
Operating Cash Flow to Interest Expense		 3.27 2.80 1.27 2.89 0.15 3.89 5.25 2.85 2.59 0.51 -0.59
Operating Cash Flow Less CapEx to Interest Expense		 2.29 22.26 0.96 2.63 1.88 3.15 3.83 0.59 1.23 -0.72 -1.71
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.99 1.04 1.04 1.05 1.09 1.12 1.16 1.18 1.25 1.16 1.00
Accounts Receivable Turnover		 7.63 6.93 8.34 8.64 8.01 8.00 8.57 8.61 9.04 8.13 8.89
Inventory Turnover		 41.35 39.37 36.35 35.26 40.87 41.32 48.87 45.84 47.61 52.74 52.13
Fixed Asset Turnover		 17.69 16.68 15.84 16.50 15.63 14.87 14.68 11.79 11.42 10.87 4.11
Accounts Payable Turnover		 11.43 8.96 10.87 10.95 11.40 9.27 10.64 10.58 10.95 9.26 11.18
Days Sales Outstanding (DSO)		 47.81 52.65 43.78 42.24 45.58 45.61 42.61 42.40 40.39 44.88 41.08
Days Inventory Outstanding (DIO)		 8.83 9.27 10.04 10.35 8.93 8.83 7.47 7.96 7.67 6.92 7.00
Days Payable Outstanding (DPO)		 31.93 40.74 33.57 33.34 32.01 39.39 34.31 34.50 33.33 39.41 32.65
Cash Conversion Cycle (CCC)		 24.71 21.18 20.25 19.26 22.50 15.05 15.76 15.86 14.72 12.39 15.43
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 10,881 9,011 9,814 10,353 9,581 9,430 9,395 10,656 11,164 11,051 24,712
Invested Capital Turnover		 4.47 4.74 2.86 2.78 2.75 3.05 3.05 2.80 2.87 3.00 1.90
Increase / (Decrease) in Invested Capital		 8,394 5,858 -347 -28 -1,300 419 -419 303 1,583 1,621 15,317
Enterprise Value (EV)		 16,829 18,291 22,282 23,524 26,427 25,950 26,100 40,330 41,090 40,572 51,765
Market Capitalization		 8,547 11,357 15,115 16,144 18,716 18,197 18,832 31,312 31,246 30,422 31,277
Book Value per Share		 $12.52 $9.99 $12.67 $14.26 $9.06 $9.02 $10.74 $8.38 $6.82 $5.38 $19.68
Tangible Book Value per Share		 ($28.29) ($29.90) ($29.45) ($26.38) ($30.21) ($30.07) ($28.95) ($30.12) ($31.67) ($32.85) ($33.16)
Total Capital		 15,418 13,659 13,957 14,310 13,200 13,286 13,586 13,232 13,902 18,124 28,028
Total Debt		 11,900 10,753 10,660 10,687 10,680 10,808 10,809 10,944 11,932 16,443 23,154
Total Long-Term Debt		 10,889 10,133 9,559 10,425 10,422 9,812 9,812 9,812 11,155 16,412 19,779
Net Debt		 7,632 6,284 6,517 6,730 7,061 7,103 6,618 8,368 9,194 9,500 19,838
Capital Expenditures (CapEx)		 169 -1,673 66 95 -370 180 231 358 254 298 317
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2,573 -3,580 -2,907 -2,146 -2,049 -2,513 -2,572 -1,983 -1,502 -1,778 -1,866
Debt-free Net Working Capital (DFNWC)		 1,549 847 1,193 1,766 1,521 1,147 1,572 546 1,188 5,149 1,450
Net Working Capital (NWC)		 538 227 92 1,504 1,263 151 575 -586 411 5,118 -1,925
Net Nonoperating Expense (NNE)		 129 136 130 251 199 215 113 104 112 240 369
Net Nonoperating Obligations (NNO)		 7,363 6,105 6,517 6,730 7,061 6,952 6,618 8,368 9,194 9,370 19,838
Total Depreciation and Amortization (D&A)		 442 415 357 290 513 387 376 358 395 425 473
Debt-free, Cash-free Net Working Capital to Revenue		 -8.61% -12.42% -10.19% -7.44% -7.29% -8.93% -8.78% -6.75% -5.04% -5.79% -5.76%
Debt-free Net Working Capital to Revenue		 5.19% 2.94% 4.18% 6.12% 5.41% 4.08% 5.37% 1.86% 3.99% 16.76% 4.48%
Net Working Capital to Revenue		 1.80% 0.79% 0.32% 5.21% 4.49% 0.54% 1.96% -2.00% 1.38% 16.66% -5.94%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.42 $2.02 $2.36 $3.47 ($3.79) $3.10 $3.70 ($0.62) $0.70 $0.31 $0.52
Adjusted Weighted Average Basic Shares Outstanding		 230M 228M 209M 208M 207M 206M 198M 196M 193M 195M 207M
Adjusted Diluted Earnings per Share		 $1.41 $2.04 $2.31 $3.37 ($3.79) $3.10 $3.61 ($0.62) $0.69 $0.33 $0.52
Adjusted Weighted Average Diluted Shares Outstanding		 232M 228M 214M 214M 207M 212M 203M 196M 195M 199M 208M
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		 225.76M 208.02M 208.48M 206.38M 202.57M 198.07M 195.51M 193.43M 191.64M 214.68M 210.99M
Normalized Net Operating Profit after Tax (NOPAT)		 487 -392 651 1,000 -709 866 875 30 270 231 261
Normalized NOPAT Margin		 6.13% -5.76% 8.76% 15.02% -9.82% 12.70% 10.19% 0.45% 3.53% 2.98% 2.55%
Pre Tax Income Margin		 5.13% 9.59% 9.36% 15.80% -14.04% 10.49% 11.47% -2.27% 3.12% 0.83% 0.81%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.32 9.78 4.30 3.87 -3.79 3.92 7.03 0.03 2.27 1.40 1.29
NOPAT to Interest Expense		 2.73 7.18 3.05 2.71 -2.67 3.50 5.30 0.00 1.41 1.26 1.73
EBIT Less CapEx to Interest Expense		 2.35 29.23 3.98 3.61 -2.05 3.18 5.61 -2.24 0.91 0.17 0.18
NOPAT Less CapEx to Interest Expense		 1.75 26.64 2.74 2.45 -0.93 2.77 3.88 -2.27 0.06 0.03 0.62
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -21.08% -188.61% 25.06% 19.82% 42.32% 36.00% 29.91% 78.16% 28.38% 47.57% 177.82%
Augmented Payout Ratio		 -30.75% -757.92% 25.06% 80.67% 191.49% 119.11% 121.48% 355.56% 137.82% 199.31% 796.23%

Financials Breakdown Chart

Key Financial Trends

NRG Energy has shown revenue growth in 2025 after a softer 2023–2024 period, with earnings and cash flow displaying more variability on a quarterly basis. Below are the key trends from the last four years (2022–2025) based on quarterly statements, focused on the main lines retail investors care about.

  • Revenue rebound in 2025: Q4 2025 operating revenue rose to 7.753 billion, up from 6.819 billion in Q4 2024 and 6.807 billion in Q4 2023, indicating a rebound in scale.
  • Consistent positive cash from operations in 2025: Each 2025 quarter posted positive net cash from continuing operating activities (Q1: 855M, Q2: 451M, Q3: 484M, Q4: 123M), showing ongoing cash generation even amid quarterly swings.
  • Late-2025 liquidity boost from financing activities: Q4 2025 Net Cash From Financing Activities was 4.086 billion, driven by a 3.726 billion issuance of debt, providing a sizable near-term liquidity cushion.
  • Capital returns to shareholders: In Q4 2025, the company paid 85 million in cash dividends and repurchased common equity for 353 million, signaling continued capital allocation to shareholders.
  • Healthy near-term liquidity position: Across 2025 Q3–Q4, Total Current Assets hovered around 8.1–9.2 billion and Total Current Liabilities around 7.7–9.3 billion, yielding a current ratio close to 1.0–1.1, indicating solid liquidity headroom.
  • Gross margin level: 2025 Q4 gross profit was 1.423 billion on 7.753 billion in revenue, yielding approximately an 18% gross margin, a modest margin level that appears stable over the period.
  • Leverage snapshot: Long-term debt generally sits in the 11–12 billion range in recent quarters, with a notable 2025 Q4 interest expense around 243 million, suggesting a material but manageable leverage profile.
  • Earnings volatility across quarters: Net income to common fluctuates quarter to quarter (e.g., positive in most quarters but negative in some, such as Q2 2025), highlighting earnings volatility tied to energy markets and operational factors.
  • Occasional quarterly earnings weakness: Notable negative in Q2 2025, with net income to common showing a loss for that period, underscoring earnings risk in certain quarters.
  • Financing outflows in earlier quarters: Several prior quarters show negative net cash from financing activities (e.g., Q1 2025 around -714 million; Q2 2025 around -297 million), reflecting non-uniform financing activity even as later quarters add debt for liquidity.
05/15/26 06:55 AM ETAI Generated. May Contain Errors.

NRG Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NRG Energy's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

NRG Energy's net income appears to be on an upward trend, with a most recent value of $864 million in 2025, falling from -$6.44 billion in 2015. The previous period was $1.13 billion in 2024. See where experts think NRG Energy is headed by visiting NRG Energy's forecast page.

NRG Energy's total operating income in 2025 was $1.85 billion, based on the following breakdown:
  • Total Gross Profit: $5.95 billion
  • Total Operating Expenses: $4.11 billion

Over the last 10 years, NRG Energy's total revenue changed from $12.52 billion in 2015 to $30.71 billion in 2025, a change of 145.3%.

NRG Energy's total liabilities were at $27.46 billion at the end of 2025, a 27.5% increase from 2024, and a 1.3% increase since 2015.

In the past 10 years, NRG Energy's cash and equivalents has ranged from $250 million in 2021 to $4.71 billion in 2025, and is currently $4.71 billion as of their latest financial filing in 2025.

Over the last 10 years, NRG Energy's book value per share changed from 8.62 in 2015 to 5.38 in 2025, a change of -37.6%.


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