FirstEnergy Corp. (FE) 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	$0.5	$0.5	0.0%	—	—	—
Q4 26	$0.72	$0.72	0.0%	—	—	—
Q3 26	$0.53	$0.53	0.0%	—	—	—
Q2 26	$0.77	$0.83	+7.8%	—	—	—
Q1 26	$0.49	$0.52	+6.1%	—	—	—
Q4 25	$0.59	$0.67	+13.6%	—	—	—
Q3 25	$0.69	$0.67	-2.9%	—	—	—
Q2 25	$0.9	$0.85	-5.6%	—	—	—
Q1 25	$0.56	$0.56	0.0%	—	—	—
Q4 24	$0.55	$0.55	0.0%	—	—	—
Q3 24	$0.59	$0.62	+5.1%	—	—	—
Q2 24	$0.85	$0.88	+3.5%	—	—	—
Q1 24	$0.45	$0.47	+4.4%	—	—	—
Q4 23	$0.61	$0.6	-1.6%	—	—	—
Q3 23	$0.53	$0.5	-5.7%	—	—	—
Q2 23	$0.78	$0.79	+1.3%	—	—	—

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	—	$0.44	—	—	$15.1B	—
FY24	—	$1.7	—	—	$13.5B	—
FY23	—	$1.92	—	—	$12.9B	—
FY22	—	$0.71	—	—	$12.5B

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	$10.7B	$10.9B	$11.3B	$11B	$10.8B	$11.1B	$12.5B	$12.9B	$13.5B	$15.1B
YoY change	-28.8%	+2.13%	+3.05%	-2.01%	-2.22%	+3.17%	+11.9%	+3.3%	+4.68%	+12%

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	10.7B	10.9B	11.3B	11B	10.8B	11.1B	12.5B	12.9B	13.5B	15.1B
Cost of revenue	3.9B	3.4B	3.6B	3.4B	3.1B	3.4B	4.6B	4.6B	4.4B	5.2B
Gross profit	6.8B	7.5B	7.6B	7.6B	7.7B	7.7B	7.9B	8.2B	9.1B	9.9B
Gross margin	63.7%	68.7%	67.6%	69%	71.5%	69.1%	63.1%	63.9%	67.5%	65.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	102M	102M	144M	674M	477M	-382M	-72M	78M	—	—
Operating expenses	3B	3.2B	3.1B	3.5B	3.7B	3.1B	3.4B	3.4B	3.9B	4B
Operating income	2B	2.3B	2.5B	2.5B	2.2B	1.8B	1.9B	2.3B	2.4B	2.8B
Operating margin	18.6%	21.3%	22.2%	22.7%	20%	16.6%	15.3%	17.6%	17.6%	18.8%
Non-operating income, net	1M	53M	61M	-431M	-45M	776M	484M	225M	140M	-242M
Pretax income	1.1B	1.4B	1.5B	1.1B	1.1B	1.6B	1.4B	1.5B	1.5B	1.6B
Income tax	527M	1.7B	490M	213M	126M	320M	1B	267M	377M	288M
Net income	-6.2B	-1.7B	1.3B	912M	1.1B	1.3B	439M	1.2B	1.1B	1.3B
Net margin	-57.7%	-15.8%	12%	8.26%	10%	11.5%	3.52%	9.14%	8.37%	8.42%
EBITDA	4B	4.1B	3.9B	3.3B	3.4B	4.4B	3.9B	4B	4.2B	4.9B
EPS	-14.5	-3.88	1.99	1.7	1.99	2.35	0.71	1.92	1.7	0.44
Diluted EPS	-14.5	-3.88	1.99	1.68	1.99	2.35	0.71	1.92	1.7	0.44

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	3.5B	3.1B	3.3B	3.3B	3.7B	3.2B	3.8B	3.4B	4.1B	3.8B	4.2B	3.7B
Cost of revenue	1.3B	1B	1.1B	1B	1.2B	1B	1.2B	1.1B	—	—	—	1.3B
Gross profit	2.2B	2.1B	2.1B	2.3B	2.5B	2.2B	2.5B	2.3B	2.6B	2.4B	2.6B	2.4B
Gross margin	62.1%	67.1%	65.3%	69.4%	67.1%	68.4%	67.1%	66.8%	63.7%	63.8%	62.2%	64.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	0	137M	—	0	—	—	—	—	—	—	—	—
Operating expenses	827M	1B	1.4B	1.2B	1.1B	858M	1B	995M	1.1B	1B	1B	1.2B
Operating income	666M	568M	448M	415M	727M	613M	754M	547M	830M	603M	828M	452M
Operating margin	19.1%	18.1%	13.6%	12.7%	19.5%	19.3%	20%	16.2%	20%	15.9%	19.7%	12.3%
Non-operating income, net	67M	-34M	229M	4M	74M	5M	36M	116M	41M	-336M	48M	277M
Pretax income	470M	266M	402M	—	560M	379M	540M	406M	610M	3M	604M	444M
Income tax	29M	74M	135M	—	94M	83M	126M	88M	78M	-4M	138M	92M
Net income	420M	192M	267M	98M	466M	296M	414M	318M	532M	7M	466M	352M
Net margin	12%	6.1%	8.12%	2.99%	12.5%	9.32%	11%	9.41%	12.8%	0.18%	11.1%	9.57%
EBITDA	1.1B	921M	953M	991M	1.2B	1B	1.2B	1.1B	1.4B	1.3B	1.3B	1.2B
EPS	0.7	—	0.44	0.08	0.73	—	0.62	0.46	0.19	—	0.17	0.13
Diluted EPS	0.69	—	0.44	0.08	0.73	—	0.62	0.46	0.19	—	0.17	0.13

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	—	—	—	—	—	—	—	—	—	—	24.9B
Enterprise value	—	—	—	—	—	—	—	—	—	—	55.5B
Shares outstanding	426M	444M	492M	535M	542M	545M	571M	573M	575M	2.3B	2.3B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	—	—	—	23.4
P/S	—	—	—	—	—	—	—	—	—	—	1.6
P/B	—	—	—	—	—	—	—	—	—	—	1.94
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	10.2
EV/Sales	—	—	—	—	—	—	—	—	—	—	3.55
Earnings yield	—	—	—	—	—	—	—	—	—	—	4.27%
FCF yield	—	—	—	—	—	—	—	—	—	—	-8.09%
PEG	—	—	—	—	—	—	—	—	—	—	-0.32

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	63.7%	68.7%	67.6%	69%	71.5%	69.1%	63.1%	63.9%	67.5%	65.3%	64.3%
Operating margin	18.6%	21.3%	22.2%	22.7%	20%	16.6%	15.3%	17.6%	17.6%	18.8%	19.3%
Net margin	-57.7%	-15.8%	12%	8.26%	10%	11.5%	3.52%	9.14%	8.37%	8.42%	6.94%
ROE	-99%	-43.9%	19.8%	13.1%	14.9%	14.8%	4.12%	10.8%	8.21%	9.13%	9.49%
ROA	-14.3%	-4.08%	3.36%	2.16%	2.43%	2.82%	0.95%	2.41%	2.17%	2.27%	3.68%
ROIC	3.57%	0%	6.52%	7.43%	6.41%	4.72%	1.81%	5.19%	4.73%	5.71%	5.11%
Return on tangible assets	-19.4%	-5.56%	4.68%	2.94%	3.25%	3.75%	1.26%	3.13%	2.76%	2.85%	2.89%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.41	0.76	0.52	0.5	0.74	0.73	0.61	0.48	0.56	0.57	0.54
Quick ratio	0.33	0.7	0.46	0.44	0.68	0.67	0.5	0.38	0.45	0.46	0.45
Debt / equity	3.61	4.98	2.86	3.01	3.38	2.75	2.03	2.28	1.75	1.91	2.01
Debt / assets	0.52	0.46	0.49	0.5	0.55	0.53	0.47	0.51	0.46	0.48	0.5
Net debt / EBITDA	5.57	4.65	4.85	6.17	6.71	5.08	5.46	6.21	5.71	5.4	5.58
Interest coverage	2.17	2.5	2.44	2.16	2.14	2.47	2.51	2.43	2.49	2.51	2.54
Effective tax rate	48.9%	100%	32.4%	19.1%	11.2%	20.5%	69.5%	18.2%	25.1%	18.5%	18.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	25.1	24.6	22.9	20.6	19.9	20.4	21.8	22.5	23.4	6.54	27.1
EPS (basic)	-14.5	-3.88	1.99	1.7	1.99	2.35	0.71	1.92	1.7	0.44	0.44
EPS (diluted)	-14.5	-3.88	1.99	1.68	1.99	2.35	0.71	1.92	1.7	0.44	1.85
Book value per share	14.7	8.84	13.8	13	13.4	15.9	18.6	19.1	23.9	6.03	22.4
FCF per share	0.74	2.18	-2.57	-0.37	-2.28	5.16	4.7	2.42	-1.98	-0.44	-0.85
Cash per share	0.47	1.32	0.75	1.17	3.2	2.68	0.28	0.24	0.19	0.02	0.11
Capex per share	7.2	6.4	5.44	4.98	4.9	4.49	4.83	—	7.01	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	28.7%	26%	23.8%	24.2%	24.6%	22%	22.1%	—	29.9%	—	—
Capex / operating cash flow	-42.8%	248.1%	84.3%	109.7%	236.2%	67.5%	89.8%	—	130.7%	—	—
Payout ratio	-9.89%	-37.1%	57.3%	89.9%	78.3%	66.2%	203%	77%	86.1%	79.9%	96.3%
Dividend yield	—	—	—	—	—	—	—	—	—	—	4.32%

Yield

4.32%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.465

ex-dividend Aug 7, 2026

Payout ratio

96%

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Aug 7, 2026	$0.465
May 7, 2026	$0.465
Feb 6, 2026	$0.445

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	$3.5B	$3.1B	$3.3B	$3.3B	$3.7B	$3.2B	$3.8B	$3.4B	$4.1B	$3.8B	$4.2B	$3.7B
YoY change	+0.35%	-0.98%	+1.73%	+9.12%	+6.94%	+0.95%	+14.5%	+3.05%	+11.2%	+19.6%	+11.6%	+8.82%

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	199M	588M	367M	627M	1.7B	1.5B	160M	137M	111M	57M
Receivables	886M	754M	686M	1.1B	1.4B	1.2B	674M	717M	867M	939M
Inventory	564M	236M	252M	281M	317M	260M	421M	512M	549M	577M
Total current assets	3B	3.1B	2.4B	2.4B	3.7B	3.2B	2.4B	2.6B	2.8B	3B
Property, plant & equipment	-14.4B	-9B	-9.6B	-10.1B	-10.4B	-11.3B	-11.6B	-11.7B	-11.8B	-11.8B
Goodwill & intangibles	11.2B	11.2B	11.2B	11.3B	11.3B	11.2B	11.2B	11.2B	11.2B	11.2B
Total assets	43.1B	42.3B	40.1B	42.3B	44.5B	45.4B	46.1B	48.8B	52B	55.9B
Accounts payable	1B	827M	965M	1B	827M	943M	1.5B	1.4B	1.6B	2B
Short-term debt	4.4B	858M	1.8B	1.4B	2.3B	1.6B	451M	2B	1.5B	1B
Total current liabilities	7.1B	4.1B	4.6B	4.9B	5B	4.4B	4B	5.4B	5B	5.3B
Long-term debt	18.2B	18.7B	17.8B	19.6B	22.1B	22.2B	21.2B	22.9B	22.5B	25.5B
Total liabilities	36.9B	38.3B	33.2B	35.3B	37.2B	36.8B	35.5B	37.9B	38.3B	42B
Shareholders' equity	6.2B	3.9B	6.8B	7B	7.2B	8.7B	10.6B	10.9B	13.7B	13.9B
Total debt	22.6B	19.5B	19.5B	21B	24.5B	23.9B	21.7B	24.9B	24B	26.6B
Net debt	22.4B	19B	19.1B	20.4B	22.7B	22.4B	21.5B	24.8B	23.9B	26.5B

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	118M	137M	888M	60M	439M	111M	132M	569M	1.4B	57M	52M	63M
Receivables	848M	717M	833M	816M	955M	867M	1B	848M	950M	939M	1B	930M
Inventory	481M	512M	538M	536M	536M	549M	567M	595M	578M	577M	582M	559M
Total current assets	2.5B	2.6B	4.1B	3.3B	3.1B	2.8B	3B	3.5B	4.2B	3B	3B	3.2B
Property, plant & equipment	-11.6B	-11.7B	-11.8B	-11.9B	-11.6B	-11.8B	-11.8B	-11.7B	-11.3B	-11.8B	-11.5B	-11.7B
Goodwill & intangibles	11.2B	11.2B	11.2B	11.2B	11.2B	11.2B	11.2B	11.2B	11.2B	11.2B	11.2B	11.2B
Total assets	47.5B	48.8B	51.3B	51B	50.8B	52B	52.8B	54.2B	55.9B	55.9B	56.9B	58.2B
Accounts payable	1.3B	1.4B	1.4B	1.5B	1.5B	1.6B	1.5B	1.8B	1.6B	2B	2B	2.1B
Short-term debt	1.6B	2B	2.9B	3.1B	2.1B	1.5B	3.6B	2.1B	2B	1B	1.7B	1.9B
Total current liabilities	4.8B	5.4B	6.3B	6.4B	5.5B	5B	7.1B	5.6B	5.6B	5.3B	5.8B	5.9B
Long-term debt	22.9B	22.9B	21.7B	20.8B	21.6B	22.5B	21.2B	23.7B	25.5B	25.5B	26.3B	27.1B
Total liabilities	36.5B	37.9B	37.7B	37.3B	37.1B	38.3B	38.9B	40.1B	41.7B	42B	42.8B	43.8B
Shareholders' equity	10.9B	10.9B	13.6B	13.7B	13.7B	13.7B	13.9B	14.2B	14.2B	13.9B	14.1B	14.4B
Total debt	24.5B	24.9B	24.5B	24B	23.7B	24B	24.8B	25.8B	27.5B	26.6B	28.1B	29B
Net debt	24.3B	24.8B	23.6B	23.9B	23.3B	23.9B	24.7B	25.2B	26.1B	26.5B	28B	28.9B

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	-6.2B	-1.7B	1.3B	912M	1.1B	1.3B	439M	1.2B	1.1B	1.3B
Depreciation & amortization	2B	1.7B	1.4B	1.2B	1.2B	1.7B	1.3B	1.3B	1.6B	1.6B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-38M	-35M	-199M	94M	-230M	313M	239M	-422M	-213M	4M
Operating cash flow	-7.2B	1.1B	3.2B	2.4B	1.1B	3.6B	3.1B	1.3B	3.1B	3.7B
Capital expenditure	-3.1B	-2.8B	-2.7B	-2.7B	-2.7B	-2.4B	-2.8B	—	-4B	—
Investing cash flow	-3.3B	-2.7B	-3B	-2.9B	-2.9B	-5B	-5.8B	-3.7B	-4.3B	-360M
Dividends paid	-611M	-639M	-772M	-820M	-845M	-849M	-891M	-906M	-970M	-1B
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-34M	-702M	1.4B	656M	2.6B	-2.7B	-912M	2.2B	1.2B	1.1B
Net change in cash	-10.5B	-2.3B	1.6B	213M	824M	-4.1B	-3.7B	-144M	-58M	4.4B
Free cash flow	316M	967M	-1.3B	-198M	-1.2B	2.8B	2.7B	1.4B	-1.1B	-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	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	420M	192M	267M	98M	466M	296M	414M	318M	532M	7M	466M	352M
Depreciation & amortization	236M	387M	276M	487M	434M	391M	408M	348M	499M	337M	117M	475M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-20M	88M	-333M	193M	-139M	66M	-34M	196M	-177M	19M	-24M	41M
Operating cash flow	619M	-185M	312M	1B	843M	881M	894M	958M	845M	1.1B	148M	989M
Capital expenditure	—	—	—	—	—	—	—	—	-1.3B	—	-1.3B	-1.3B
Investing cash flow	-78M	-3.4B	-80M	-64M	-81M	-95M	-88M	-103M	-1.4B	-94M	-1.4B	-1.5B
Dividends paid	-223M	-236M	-235M	-245M	-245M	-245M	-245M	-257M	-257M	-257M	-257M	-269M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	214M	256M	1.1B	-393M	-28M	509M	465M	690M	1.1B	-1.2B	1.2B	578M
Net change in cash	755M	-3.4B	1.4B	590M	734M	1.3B	1.3B	1.5B	558M	-132M	-19M	111M
Free cash flow	-206M	3.2B	-830M	170M	-229M	-250M	-368M	-136M	-471M	-30M	-1.1B	-356M

FirstEnergy Corp. 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

Split history