Ameren Corporation (AEE) 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 %
Q1 27	$1.08	$1.13	+4.6%	—	—	—
Q4 26	$1.18	$1.28	+8.5%	—	—	—
Q3 26	$0.77	$0.78	+1.3%	—	—	—
Q2 26	$2.12	$2.35	+10.8%	—	—	—
Q1 26	$0.99	$1.01	+2.0%	—	—	—
Q4 25	$1.04	$1.07	+2.9%	—	—	—
Q3 25	$0.78	$0.77	-1.3%	—	—	—
Q2 25	$1.92	$1.87	-2.6%	—	—	—
Q1 25	$0.94	$0.97	+3.2%	—	—	—
Q4 24	$1.08	$0.98	-9.3%	—	—	—
Q3 24	$0.61	$0.6	-1.6%	—	—	—
Q2 24	$1.82	$1.87	+2.7%	—	—	—
Q1 24	$0.8	$0.9	+12.5%	—	—	—
Q4 23	$0.94	$1	+6.4%	—	—	—
Q3 23	$0.56	$0.63	+12.5%	—	—	—
Q2 23	$1.74	$1.74	0.0%	—	—	—

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	—	$5.38	—	—	$8.8B	—
FY24	—	$4.43	—	—	$7.6B	—
FY23	—	$4.39	—	—	$7.5B	—
FY22	—	$4.16	—	—	$8B

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	$6.1B	$6.2B	$6.3B	$5.9B	$5.8B	$6.4B	$8B	$7.5B	$7.6B	$8.8B
YoY change	-0.36%	+1.61%	+1.9%	-6.06%	-1.96%	+10.4%	+24.4%	-5.74%	+1.64%	+15.4%

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	6.1B	6.2B	6.3B	5.9B	5.8B	6.4B	8B	7.5B	7.6B	8.8B
Cost of revenue	3.4B	3.4B	3.5B	3.2B	2.9B	3.4B	4.6B	4B	4B	4.6B
Gross profit	2.6B	2.8B	2.8B	2.7B	2.9B	3B	3.3B	3.5B	3.7B	4.2B
Gross margin	43.4%	45.1%	44.4%	46.4%	49.3%	46.8%	42%	46.2%	47.9%	47.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	-56M	-44M	-70M	-90M	—	-136M	-184M	-295M	—	—
Operating expenses	-56M	-44M	-70M	-90M	—	-136M	-184M	-295M	—	—
Operating income	1.4B	1.5B	1.4B	1.3B	1.3B	1.5B	1.7B	1.9B	1.5B	2B
Operating margin	22.7%	23.6%	21.6%	21.4%	22.4%	23%	21.4%	24.7%	19.9%	23%
Non-operating income, net	5M	8M	102M	130M	151M	39M	7M	20M	376M	306M
Pretax income	1B	1.1B	1.1B	1B	1B	1.2B	1.3B	1.3B	1.3B	1.6B
Income tax	382M	576M	237M	182M	155M	157M	176M	183M	83M	136M
Net income	659M	529M	821M	834M	877M	995M	1.1B	1.2B	1.2B	1.5B
Net margin	10.8%	8.57%	13.1%	14.1%	15.1%	15.6%	13.6%	15.4%	15.6%	16.6%
EBITDA	2.3B	2.4B	2.5B	2.5B	2.6B	2.8B	3.1B	3.4B	3.4B	3.9B
EPS	2.69	2.16	3.34	3.37	3.53	3.86	4.16	4.39	4.43	5.38
Diluted EPS	2.68	2.14	3.32	3.35	3.5	3.84	4.14	4.38	4.42	5.35

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	2.1B	1.6B	1.8B	1.7B	2.2B	1.9B	2.1B	2.2B	2.7B	1.8B	2.2B	—
Cost of revenue	930M	867M	949M	825M	1B	1.1B	1.2B	1.3B	1.3B	884M	1.1B	—
Gross profit	1.1B	751M	867M	868M	1.1B	794M	941M	928M	1.4B	898M	1.1B	—
Gross margin	54.9%	46.4%	47.7%	51.3%	51.7%	40.9%	44.9%	41.8%	52%	50.4%	49.7%	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	-84M	-84M	-76M	-76M	-76M	—	—	—	—	—	—	—
Operating expenses	-84M	-84M	-76M	-76M	-76M	—	—	—	—	—	—	—
Operating income	698M	348M	371M	361M	586M	198M	430M	411M	825M	360M	532M	—
Operating margin	33.9%	21.5%	20.4%	21.3%	27%	10.2%	20.5%	18.5%	30.6%	20.2%	24.4%	—
Non-operating income, net	11M	-6M	81M	90M	93M	112M	74M	86M	66M	80M	81M	—
Pretax income	563M	198M	306M	299M	514M	151M	340M	320M	693M	244M	418M	—
Income tax	69M	39M	44M	39M	57M	-57M	50M	43M	52M	-9M	60M	—
Net income	494M	159M	262M	260M	457M	208M	290M	277M	641M	253M	358M	—
Net margin	24%	9.83%	14.4%	15.4%	21%	10.7%	13.8%	12.5%	23.7%	14.2%	16.5%	—
EBITDA	1.1B	717M	848M	849M	1.1B	743M	914M	874M	1.3B	852M	1B	—
EPS	1.88	0.6	0.98	0.97	1.71	0.77	1.07	1.02	2.37	—	1.29	1.14
Diluted EPS	1.87	0.6	0.98	0.97	1.7	0.77	1.07	1.01	2.35	—	1.28	1.13

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	12.7B	14.3B	15.9B	18.9B	19.3B	22.8B	23B	19B	23.8B	27B	30B
Enterprise value	20.6B	22.7B	24.9B	28.6B	30.7B	36.4B	37.8B	35.5B	42.5B	46.8B	52.2B
Shares outstanding	242.6M	242.6M	243.8M	245.6M	247M	256.3M	258.4M	262.8M	266.8M	270.5M	270.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.3	27.1	19.4	22.6	22	22.9	21.3	16.4	20	18.5	19.3
P/S	2.09	2.32	2.53	3.19	3.33	3.57	2.89	2.53	3.12	3.07	3.6
P/B	1.76	1.95	2.05	2.3	2.12	2.32	2.16	1.66	1.94	2	2.21
EV/EBITDA	8.86	9.37	10	11.6	11.8	13.1	12.1	10.6	12.3	11.9	13.3
EV/Sales	3.38	3.68	3.96	4.85	5.3	5.69	4.75	4.73	5.57	5.32	6.2
Earnings yield	5.18%	3.7%	5.16%	4.42%	4.55%	4.36%	4.7%	6.09%	4.99%	5.41%	5.19%
FCF yield	-0.11%	-0.54%	-1.06%	-1.44%	-8.15%	-8.16%	-4.86%	-6.35%	-6.93%	-3.04%	-5.9%
PEG	—	—	—	—	—	—	—	—	—	—	1.64

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	43.4%	45.1%	44.4%	46.4%	49.3%	46.8%	42%	46.2%	47.9%	47.4%	48.6%
Operating margin	22.7%	23.6%	21.6%	21.4%	22.4%	23%	21.4%	24.7%	19.9%	23%	21.9%
Net margin	10.8%	8.57%	13.1%	14.1%	15.1%	15.6%	13.6%	15.4%	15.6%	16.6%	18.6%
ROE	9.1%	7.22%	10.6%	10.2%	9.66%	10.1%	10.1%	10.1%	9.7%	10.8%	11.9%
ROA	2.67%	2.04%	3.02%	2.88%	2.74%	2.78%	2.85%	2.83%	2.66%	3.01%	3.1%
ROIC	5.79%	4.42%	6.27%	5.78%	5.38%	5.42%	5.73%	5.72%	4.58%	5.56%	5.55%
Return on tangible assets	2.76%	2.11%	3.11%	2.97%	2.81%	2.85%	2.91%	2.89%	2.71%	3.07%	3.12%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.6	0.55	0.57	0.57	0.76	0.7	0.79	0.65	0.66	0.66	0.53
Quick ratio	0.4	0.37	0.39	0.37	0.52	0.49	0.59	0.43	0.44	0.46	0.44
Debt / equity	1.08	1.15	1.16	1.19	1.27	1.38	1.42	1.44	1.53	1.47	1.58
Debt / assets	0.32	0.32	0.33	0.34	0.36	0.38	0.4	0.4	0.42	0.41	0.43
Net debt / EBITDA	3.37	3.47	3.62	3.95	4.39	4.91	4.73	4.92	5.43	5.02	5.24
Interest coverage	3.73	3.83	3.64	3.67	3.46	4.01	3.58	3.37	2.92	3.06	3.08
Effective tax rate	36.7%	52.1%	22.4%	17.9%	15%	13.6%	14%	13.7%	6.54%	8.52%	8.72%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	25	25.4	25.8	24.1	23.5	24.9	30.8	28.5	28.6	32.5	30.8
EPS (basic)	2.69	2.16	3.34	3.37	3.53	3.86	4.16	4.39	4.43	5.38	5.38
EPS (diluted)	2.68	2.14	3.32	3.35	3.5	3.84	4.14	4.38	4.42	5.35	5.68
Book value per share	29.9	30.2	31.9	33.4	36.8	38.3	41.2	43.7	45.9	50	49.4
FCF per share	-0.06	-0.32	-0.69	-1.11	-6.36	-7.26	-4.32	-4.59	-6.17	-3.04	-4.83
Cash per share	0.04	0.04	0.07	0.07	0.56	0.06	0.97	0.1	0.03	0.05	0.04
Capex per share	0.23	0.26	0.21	0.13	0.27	—	—	—	—	15.4	15.4

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.91%	1.02%	0.83%	0.52%	1.14%	—	—	—	—	47.4%	47.4%
Capex / operating cash flow	2.61%	3.05%	2.39%	1.42%	3.9%	—	—	—	—	124.5%	124.5%
Payout ratio	63.1%	81.5%	54.9%	56.6%	56.3%	56.8%	56.5%	57.2%	60.2%	52.6%	51.4%
Dividend yield	3.27%	3.01%	2.84%	2.5%	2.56%	2.48%	2.65%	3.48%	3%	2.84%	2.77%

Yield

2.77%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.75

ex-dividend Sep 8, 2026

Payout ratio

51%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Sep 8, 2026	$0.75
Jun 9, 2026	$0.75
Mar 10, 2026	$0.75

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	$2.1B	$1.6B	$1.8B	$1.7B	$2.2B	$1.9B	$2.1B	$2.2B	$2.7B	$1.8B	$2.2B	—
YoY change	-10.7%	-20.9%	-11.9%	-3.81%	+5.49%	+20%	+15.5%	+31.2%	+24.2%	-8.19%	+3.77%	—

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	9M	10M	16M	16M	139M	16M	250M	25M	7M	13M
Receivables	437M	445M	463M	393M	415M	434M	600M	494M	525M	665M
Inventory	527M	522M	483M	494M	521M	592M	667M	733M	762M	774M
Total current assets	1.6B	1.6B	1.5B	1.4B	1.7B	2B	2.7B	2.2B	2.3B	2.6B
Property, plant & equipment	-8.2B	-8.6B	-9.1B	-9.9B	-10.2B	-9.9B	-9.6B	-9.8B	-10B	-10B
Goodwill & intangibles	822M	822M	822M	822M	822M	822M	822M	822M	822M	822M
Total assets	24.7B	25.9B	27.2B	28.9B	32B	35.7B	37.9B	40.8B	44.6B	48.5B
Accounts payable	805M	902M	817M	874M	958M	1.1B	1.2B	1.1B	1.1B	1.3B
Short-term debt	1.2B	1.3B	1.2B	882M	498M	1.1B	1.4B	1.4B	1.5B	1.6B
Total current liabilities	2.7B	2.9B	2.7B	2.5B	2.2B	2.8B	3.4B	3.3B	3.4B	3.9B
Long-term debt	6.6B	7.1B	7.9B	8.9B	11.1B	12.6B	13.7B	15.1B	17.3B	18.2B
Total liabilities	17.5B	18.6B	19.4B	20.7B	22.9B	25.9B	27.3B	29.4B	32.4B	34.9B
Shareholders' equity	7.2B	7.3B	7.8B	8.2B	9.1B	9.8B	10.6B	11.5B	12.2B	13.5B
Total debt	7.8B	8.4B	9B	9.8B	11.6B	13.6B	15.1B	16.5B	18.7B	19.8B
Net debt	7.8B	8.4B	9B	9.8B	11.4B	13.6B	15.1B	16.5B	18.7B	19.8B

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	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	7M	8M	25M	85M	19M	17M	7M	23M	11M	9M	13M	13M
Receivables	482M	597M	494M	507M	514M	651M	525M	667M	567M	794M	665M	703M
Inventory	711M	760M	733M	679M	740M	792M	762M	669M	738M	804M	774M	733M
Total current assets	2B	2.1B	2.2B	2.1B	2.2B	2.3B	2.3B	2.5B	2.5B	2.6B	2.6B	2.6B
Property, plant & equipment	—	—	-9.8B	—	—	—	-10B	—	—	—	-10B	—
Goodwill & intangibles	822M	822M	822M	822M	822M	822M	822M	822M	822M	822M	822M	822M
Total assets	38.9B	39.6B	40.8B	41.3B	42.3B	43.3B	44.6B	45.7B	46.6B	47.4B	48.5B	49.8B
Accounts payable	719M	955M	1.1B	647M	774M	717M	1.1B	702M	882M	762M	1.3B	733M
Short-term debt	1.7B	2.2B	1.4B	2B	1.5B	1.8B	1.5B	1.3B	1.2B	932M	1.6B	2.3B
Total current liabilities	3.2B	4B	3.3B	3.5B	3.3B	3.6B	3.4B	2.9B	3.1B	2.8B	3.9B	4.1B
Long-term debt	14.3B	13.8B	15.1B	15.2B	16.3B	16.4B	17.3B	18.4B	18.8B	19.2B	18.2B	19B
Total liabilities	28.1B	28.4B	29.4B	29.7B	30.7B	31.3B	32.4B	33.3B	34.2B	34.5B	34.9B	36.2B
Shareholders' equity	10.8B	11.2B	11.5B	11.6B	11.7B	12B	12.2B	12.3B	12.4B	12.9B	13.5B	13.7B
Total debt	16B	16B	16.5B	17.2B	17.8B	18.3B	18.7B	19.6B	20B	20.1B	19.8B	21.3B
Net debt	16B	16B	16.5B	17.1B	17.8B	18.2B	18.7B	19.6B	20B	20.1B	19.8B	21.3B

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	659M	529M	821M	834M	877M	995M	1.1B	1.2B	1.2B	1.5B
Depreciation & amortization	923M	952M	1B	1.1B	1.2B	1.3B	1.4B	1.5B	1.6B	1.7B
Stock-based compensation	17M	17M	20M	20M	21M	22M	24M	26M	28M	28M
Change in working capital	120M	38M	54M	99M	-518M	-789M	-481M	-322M	-248M	-241M
Operating cash flow	2.1B	2.1B	2.2B	2.2B	1.7B	1.7B	2.3B	2.6B	2.7B	3.4B
Capital expenditure	-55M	-63M	-52M	-31M	-66M	—	—	—	—	-4.2B
Investing cash flow	-82M	-72M	-50M	-24M	-96M	-5M	10M	-27M	-46M	-4.1B
Dividends paid	-416M	-431M	-451M	-472M	-494M	-565M	-610M	-662M	-714M	-768M
Share repurchases	—	—	—	0	0	-13M	0	0	—	—
Financing cash flow	-207M	126M	205M	334M	1.7B	1.7B	1.2B	1.3B	1.7B	884M
Net change in cash	1.8B	2.1B	2.3B	2.5B	3.3B	3.4B	3.5B	3.8B	4.4B	92M
Free cash flow	-14M	-77M	-168M	-272M	-1.6B	-1.9B	-1.1B	-1.2B	-1.6B	-821M

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	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	239M	-51M	159M	262M	260M	457M	208M	290M	277M	641M	253M	358M
Depreciation & amortization	370M	-329M	381M	397M	401M	403M	404M	415M	398M	425M	430M	438M
Stock-based compensation	6M	7M	5M	8M	6M	8M	6M	7M	7M	7M	7M	8M
Change in working capital	-52M	273M	54M	-301M	-178M	-148M	379M	-385M	—	—	374M	-497M
Operating cash flow	572M	10M	693M	422M	506M	842M	959M	439M	862M	1.1B	956M	421M
Capital expenditure	—	—	—	—	—	—	—	—	-1.1B	-989M	-1B	-1.6B
Investing cash flow	-4M	-6M	-5M	-4M	-10M	-17M	-26M	-5M	-1B	-1B	-1B	-1.6B
Dividends paid	-165M	329M	-166M	-178M	-178M	-179M	-179M	-191M	-193M	-192M	-192M	-208M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	419M	-543M	635M	497M	415M	300M	537M	704M	180M	-62M	62M	1.3B
Net change in cash	987M	-539M	1.3B	915M	911M	1.1B	1.5B	1.1B	18M	41M	-15M	65M
Free cash flow	-306M	561M	-604M	-410M	-470M	-260M	-507M	-651M	-205M	115M	-80M	-1.2B

Ameren Corporation 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