American Electric Power Company, Inc. (AEP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.57	$1.64	+4.5%	—	—	—
Q3 26	$1.15	$1.19	+3.5%	—	—	—
Q2 26	$1.81	$1.8	-0.6%	—	—	—
Q1 26	$1.27	$1.43	+12.6%	—	—	—
Q4 25	$1.4	$1.54	+10.0%	—	—	—
Q3 25	$1.24	$1.24	0.0%	—	—	—
Q2 25	$1.8	$1.85	+2.8%	—	—	—
Q1 25	$1.23	$1.25	+1.6%	—	—	—
Q4 24	$1.26	$1.27	+0.8%	—	—	—
Q3 24	$1.26	$1.23	-2.4%	—	—	—
Q2 24	$1.7	$1.77	+4.1%	—	—	—
Q1 24	$1.14	$1.13	-0.9%	—	—	—
Q4 23	$1.12	$1.11	-0.9%	—	—	—
Q3 23	$0.99	$1.05	+6.1%	—	—	—
Q2 23	$1.56	$1.62	+3.8%	—	—	—
Q1 23	$1.19	$1.2	+0.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.7	—	—	$21.9B	—
FY24	—	$5.6	—	—	$19.7B	—
FY23	—	$4.26	—	—	$19B	—
FY22	—	$4.51	—	—	$19.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$16.4B	$15.4B	$16.2B	$15.6B	$14.9B	$16.8B	$19.6B	$19B	$19.7B	$21.9B
YoY change	-0.44%	-5.83%	+5%	-3.92%	-4.13%	+12.6%	+17%	-3.35%	+3.89%	+10.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	16.4B	15.4B	16.2B	15.6B	14.9B	16.8B	19.6B	19B	19.7B	21.9B
Cost of revenue	7B	6.5B	7B	6.3B	5.4B	6.6B	8.3B	7.9B	7.3B	8.5B
Gross profit	9.4B	9B	9.2B	9.2B	9.5B	10.2B	11.3B	11.1B	12.5B	13.3B
Gross margin	57.4%	58.1%	56.6%	59.4%	63.9%	60.8%	57.5%	58.6%	63.2%	61%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—
Operating expenses	3B	2.5B	3B	2.7B	2.6B	2.5B	2.8B	2.8B	3.1B	3B
Operating income	3.4B	3.4B	2.8B	2.7B	3B	3.4B	3.8B	3.7B	4.4B	5.4B
Operating margin	21%	21.9%	17%	17.7%	20%	20.4%	19.2%	19.7%	22.5%	24.6%
Non-operating income, net	-2.1B	325.5M	204.6M	158.6M	324.1M	288.1M	38M	281.1M	259.6M	365M
Pretax income	475.6M	2.8B	2B	1.8B	2.1B	2.5B	2.4B	2.2B	2.8B	3.7B
Income tax	-73.7M	969.7M	115.3M	-12.9M	40.5M	115.5M	5.4M	54.6M	-39.2M	129M
Net income	618M	1.9B	1.9B	1.9B	2.2B	2.5B	2.3B	2.2B	3B	3.7B
Net margin	3.77%	12.5%	11.9%	12.3%	14.7%	14.8%	11.7%	11.7%	15.1%	16.9%
EBITDA	5.6B	5.6B	5.3B	5.6B	6.1B	6.6B	7.3B	7.2B	8B	9.3B
EPS	1.24	3.89	3.9	3.89	4.44	4.97	4.51	4.26	5.6	6.7
Diluted EPS	1.24	3.88	3.9	3.88	4.42	4.96	4.49	4.24	5.58	6.66

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.3B	4.6B	5B	4.6B	5.4B	4.7B	5.5B	5.1B	6B	5.3B	6B	5.4B
Cost of revenue	2.1B	2B	1.9B	1.7B	2B	1.6B	2.2B	1.9B	2.4B	2B	2.5B	2B
Gross profit	3.3B	2.6B	3.1B	2.9B	3.4B	3.1B	3.3B	3.2B	3.6B	3.3B	3.5B	3.4B
Gross margin	61%	56.7%	62.3%	62.4%	63%	65%	60.3%	62%	60.3%	61.6%	58%	62.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	719.9M	779.4M	762.3M	817.3M	805.8M	742.2M	752.4M	537.6M	797.8M	862.2M	750M	814M
Operating income	1.4B	689.7M	1.2B	826.4M	1.4B	1.1B	1.3B	1.4B	1.5B	1.2B	1.4B	1.2B
Operating margin	25.3%	15.1%	23.3%	18%	24.9%	23.3%	23.5%	27.5%	25.3%	22.2%	23.1%	22.9%
Non-operating income, net	118.2M	62.8M	102.3M	-36.8M	129.2M	64.9M	100.2M	107.2M	105M	52.6M	83M	108M
Pretax income	1B	291.6M	839.3M	324M	981.9M	697.7M	889.5M	1B	1.1B	699.8M	922M	770M
Income tax	64.2M	-48.6M	-141.9M	6.7M	37.5M	58.5M	125.5M	-250.9M	138.7M	115.7M	44M	52M
Net income	958.3M	337.8M	1B	342.5M	961.7M	665.9M	802.2M	1.3B	1B	605.2M	903M	747M
Net margin	17.9%	7.38%	20%	7.48%	17.7%	14.2%	14.7%	25.3%	16.6%	11.4%	15%	13.7%
EBITDA	2.2B	1.6B	2B	1.7B	2.3B	2B	2.2B	2.4B	2.5B	2.2B	2.4B	2.3B
EPS	1.83	—	1.91	0.64	1.8	—	1.5	2.29	1.82	—	1.61	1.31
Diluted EPS	1.83	—	1.9	0.64	1.8	—	1.5	2.29	1.81	—	1.6	1.3

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	30.9B	36.2B	36.8B	46.7B	41.3B	44.5B	48.6B	42.1B	48.9B	61.6B	64.3B
Enterprise value	52.6B	58.6B	61.7B	76.7B	75.1B	80.6B	89.5B	85.2B	94.2B	110.7B	118.6B
Shares outstanding	491.5M	491.8M	492.8M	493.7M	495.7M	500.5M	511.8M	518.9M	530.1M	534.5M	534.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	50.1	18.8	19.1	24.3	18.8	17.9	21.1	19	16.4	16.7	20.3
P/S	1.89	2.35	2.27	3	2.77	2.65	2.47	2.22	2.48	2.82	2.81
P/B	1.78	1.98	1.93	2.34	1.99	1.96	2.01	1.67	1.81	1.91	1.99
EV/EBITDA	9.42	10.5	11.6	13.6	12.4	12.2	12.3	11.8	11.7	11.9	13.1
EV/Sales	3.21	3.8	3.81	4.93	5.04	4.8	4.56	4.49	4.78	5.06	5.2
Earnings yield	2%	5.33%	5.24%	4.11%	5.32%	5.59%	4.74%	5.25%	6.09%	6%	4.92%
FCF yield	-1.26%	-4.23%	-3.08%	-4.02%	-6.02%	-4.32%	-3.05%	-5.92%	-1.98%	-2.66%	-9.32%
PEG	—	—	—	—	—	—	—	—	—	—	-0.47

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	57.4%	58.1%	56.6%	59.4%	63.9%	60.8%	57.5%	58.6%	63.2%	61%	62.4%
Operating margin	21%	21.9%	17%	17.7%	20%	20.4%	19.2%	19.7%	22.5%	24.6%	23.3%
Net margin	3.77%	12.5%	11.9%	12.3%	14.7%	14.8%	11.7%	11.7%	15.1%	16.9%	13.8%
ROE	3.55%	10.5%	10.1%	9.64%	10.6%	11%	9.56%	8.75%	11%	11.5%	10.1%
ROA	0.97%	2.98%	2.81%	2.53%	2.72%	2.84%	2.47%	2.29%	2.89%	3.23%	2.98%
ROIC	8.79%	5.45%	5.9%	5.5%	5.37%	5.56%	5.8%	5.33%	6.15%	6.39%	5.58%
Return on tangible assets	0.98%	2.98%	2.81%	2.53%	2.72%	2.84%	2.47%	2.29%	2.89%	3.23%	2.68%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.64	0.51	0.48	0.4	0.44	0.63	0.51	0.53	0.44	0.45	0.5
Quick ratio	0.53	0.4	0.37	0.28	0.31	0.55	0.41	0.36	0.31	0.33	0.38
Debt / equity	1.26	1.25	1.33	1.53	1.66	1.62	1.72	1.72	1.7	1.54	1.61
Debt / assets	0.35	0.35	0.37	0.4	0.43	0.42	0.45	0.45	0.44	0.43	0.44
Net debt / EBITDA	3.87	4.01	4.69	5.34	5.57	5.44	5.63	5.98	5.65	5.28	5.62
Interest coverage	1.54	4.15	3	2.71	2.84	3.09	2.73	2.22	2.53	2.84	2.61
Effective tax rate	0%	34.4%	5.84%	0%	1.89%	4.6%	0.22%	2.47%	0%	3.46%	9.98%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	33.3	31.4	32.9	31.5	30.1	33.5	38.4	36.6	37.2	40.9	42.3
EPS (basic)	1.24	3.89	3.9	3.89	4.44	4.97	4.51	4.26	5.6	6.7	6.7
EPS (diluted)	1.24	3.88	3.9	3.88	4.42	4.96	4.49	4.24	5.58	6.66	5.78
Book value per share	35.4	37.2	38.7	40.3	41.9	45.3	47.1	48.7	50.9	60.3	58.9
FCF per share	-0.79	-3.11	-2.3	-3.8	-5.01	-3.84	-2.9	-4.81	-1.82	-3.07	-4.43
Cash per share	0.71	0.77	0.8	0.91	1.2	1.25	1.36	1.05	0.79	0.78	1.11
Capex per share	0.26	0.22	0.09	0.19	0.14	0.21	0.2	0.25	0.26	15.8	18.2

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.78%	0.7%	0.28%	0.59%	0.47%	0.62%	0.51%	0.68%	0.71%	38.6%	44%
Capex / operating cash flow	8.17%	2.59%	0.84%	2.26%	2.04%	2.99%	2.15%	2.63%	2.15%	121.7%	130.5%
Payout ratio	181.4%	61.8%	65%	70.3%	64.9%	61.1%	71.4%	79.6%	64%	54.3%	65.5%
Dividend yield	3.62%	3.29%	3.41%	2.89%	3.45%	3.41%	3.39%	4.18%	3.89%	3.26%	3.21%

Yield

3.21%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.95

ex-dividend Aug 10, 2026

Payout ratio

66%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$0.95
May 8, 2026	$0.95
Feb 10, 2026	$0.95

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.3B	$4.6B	$5B	$4.6B	$5.4B	$4.7B	$5.5B	$5.1B	$6B	$5.3B	$6B	$5.4B
YoY change	-3.34%	-6.23%	+7.14%	+4.73%	+1.47%	+2.6%	+8.71%	+11.1%	+10.9%	+13.2%	+10.2%	+7.04%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	349.2M	376.3M	393.2M	449.5M	593.5M	623.8M	697M	544.4M	418.3M	417M
Receivables	705.1M	643.9M	699M	625.3M	613.6M	720.9M	1.1B	1B	1.1B	1.2B
Inventory	967.3M	953.2M	921.1M	1.2B	1.3B	989.2M	1.4B	1.9B	1.7B	1.6B
Total current assets	6B	4.3B	4.1B	4.1B	4.4B	7.8B	6.8B	6.1B	5.8B	6.1B
Property, plant & equipment	-9.8B	-9.3B	-9.3B	-8.9B	-10.2B	-10.9B	-12.3B	-11.9B	-11.8B	-11.3B
Goodwill & intangibles	105M	105M	105M	105M	105M	105M	105M	105M	105M	106M
Total assets	63.5B	64.7B	68.8B	75.9B	80.8B	87.7B	93.4B	96.7B	103.1B	114.5B
Accounts payable	1.7B	2.1B	1.9B	2.1B	1.7B	2.1B	2.7B	2B	2.6B	3.4B
Short-term debt	4.6B	3.4B	3.6B	4.7B	4.8B	4.9B	6.7B	5.4B	6B	4.8B
Total current liabilities	9.5B	8.3B	8.6B	10.3B	9.9B	12.4B	13.3B	11.6B	13B	13.3B
Long-term debt	17.4B	19.4B	21.6B	25.9B	29.6B	31.8B	34.9B	38.2B	39.8B	44.7B
Total liabilities	46B	46.4B	49.7B	56B	60B	65B	69.3B	71.4B	76.1B	82.2B
Shareholders' equity	17.4B	18.3B	19.1B	19.9B	20.8B	22.7B	24.1B	25.3B	27B	32.2B
Total debt	22B	22.8B	25.3B	30.5B	34.4B	36.7B	41.6B	43.6B	45.8B	49.5B
Net debt	21.8B	22.6B	25B	30.3B	34B	36.3B	41.1B	43.3B	45.6B	49.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	564.3M	544.4M	447.7M	428.2M	474.4M	418.3M	463.6M	439.3M	1.3B	417M	516M	603M
Receivables	976.8M	1B	1B	1.1B	963.6M	1.1B	1.1B	1.1B	1.1B	1.2B	1.3B	1.3B
Inventory	1.7B	1.9B	1.8B	1.8B	1.7B	1.7B	1.6B	1.6B	1.6B	1.6B	1.7B	1.8B
Total current assets	6.7B	6.1B	5.8B	6.7B	6B	5.8B	5.9B	6.3B	6.9B	6.1B	6.6B	7.1B
Property, plant & equipment	-10.9B	-11.9B	-11.7B	-11.8B	-11.7B	-11.8B	-11.7B	-11.6B	-11.5B	-11.3B	-10.4B	-7.8B
Goodwill & intangibles	105M	105M	105M	105M	105M	105M	105M	105M	105M	106M	106M	106M
Total assets	95.1B	96.7B	97.7B	99.6B	100.1B	103.1B	104.4B	107.8B	110.3B	114.5B	117.8B	121.6B
Accounts payable	2.3B	2B	2B	2.3B	2.3B	2.6B	2.4B	2.7B	2.8B	3.4B	3.1B	4B
Short-term debt	5.6B	5.4B	5B	3.9B	4.6B	6B	7.6B	4.8B	3.2B	4.8B	4.4B	4.9B
Total current liabilities	11.3B	11.6B	10.9B	10.2B	10.6B	13B	14.2B	11.4B	10B	13.3B	12.6B	14.2B
Long-term debt	37.2B	38.2B	39.1B	40.5B	39.6B	39.8B	39.3B	41.8B	44.7B	44.7B	47.4B	48.6B
Total liabilities	69.8B	71.4B	71.9B	73.4B	73.5B	76.1B	77B	76.8B	78.8B	82.2B	84.8B	88.3B
Shareholders' equity	25.3B	25.3B	25.8B	26.2B	26.7B	27B	27.4B	31B	31.5B	32.2B	33B	33.3B
Total debt	42.9B	43.6B	44.2B	44.3B	44.2B	45.8B	46.9B	46.6B	47.9B	49.5B	51.8B	53.5B
Net debt	42.5B	43.3B	44B	44.1B	44B	45.6B	46.7B	46.4B	46.8B	49.3B	51.5B	53.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	620.5M	1.9B	1.9B	1.9B	2.2B	2.5B	2.3B	2.2B	3B	3.7B
Depreciation & amortization	2.1B	2.1B	2.4B	2.7B	2.9B	3B	3.3B	3.2B	3.4B	3.5B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-455M	-496.3M	717.6M	-79.9M	-866.6M	17.6M	-343.1M	-726M	270.1M	309M
Operating cash flow	1.6B	4.2B	5.5B	4.1B	3.4B	3.5B	4.7B	4.9B	6.5B	6.9B
Capital expenditure	-128.5M	-108M	-46.1M	-92.3M	-69.7M	-104.5M	-100.7M	-128.2M	-139.9M	-8.5B
Investing cash flow	-373.4M	2B	-42.7M	-1.1B	12.4M	-774.3M	-1.1B	1.1B	34.2M	-11.8B
Dividends paid	-1.1B	-1.2B	-1.3B	-1.4B	-1.4B	-1.5B	-1.6B	-1.8B	-1.9B	-2B
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	503.9M	-679.3M	956.3M	2.9B	651.2M	1.3B	1.6B	-1.3B	-371M	3.7B
Net change in cash	1.7B	5.5B	6.4B	5.8B	4.1B	4.1B	5.2B	4.7B	6.2B	-1.2B
Free cash flow	-390.3M	-1.5B	-1.1B	-1.9B	-2.5B	-1.9B	-1.5B	-2.5B	-966.3M	-1.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	958.3M	337.8M	1B	342.5M	961.7M	665.9M	802.2M	1.3B	999.8M	605.2M	903M	747M
Depreciation & amortization	792.3M	877.6M	787.1M	821.9M	852.7M	931.1M	833.4M	853.5M	879.1M	922.9M	907M	910M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-346.3M	-96.3M	-118.4M	62M	149.9M	176.6M	27M	37.7M	312.6M	-68.6M	-148M	182M
Operating cash flow	1.9B	551.1M	1.5B	1.7B	2.4B	937.7M	1.6B	1.2B	2.5B	1.8B	1.5B	1.9B
Capital expenditure	13M	-67.3M	-33.7M	-36.1M	-28.6M	-41.5M	-35.8M	-1.9B	-2B	-2.5B	-2.8B	-2.8B
Investing cash flow	1.3B	-12M	92.4M	-23.8M	330.5M	-364.9M	-1.8M	-1.9B	-3.7B	-4.1B	-2.6B	-2.6B
Dividends paid	-430.2M	-466.6M	-466.9M	-469.1M	-471.4M	-496.5M	-501M	-500.5M	-498.9M	-510.1M	-520M	-519M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-2.7B	80.2M	-180.2M	-1.1B	-623.7M	1.6B	448M	918.7M	426.1M	1.9B	2.1B	1.2B
Net change in cash	533.4M	619.3M	1.4B	524.7M	2.1B	2.1B	2.1B	263.4M	-831.3M	-447.7M	1B	496M
Free cash flow	89.7M	-342M	-353.2M	-130.7M	293.8M	-776.2M	-686M	-2.1B	1.8B	-679.7M	-2.3B	-1.3B

American Electric Power Company, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement