AEP Financials American Electric Power

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 82 d ago Overview →

Growth & profitability

Revenue has grown 3.8% per year over the past 5 years.
Net income has grown faster than revenue (11.0% vs 3.8% per year).
Free cash flow has declined 15.2% per year over the past 5 years.

Financial health

Total debt ($48.8B) exceeds cash ($197M); net debt is $48.6B.
Total debt has grown faster than revenue (7.8% vs 3.8% per year).
Operating income covered interest expense 2.6× in the latest year.
Total debt is 5.6× EBITDA.

Shareholder returns

Dividends have been paid for 4 consecutive years, consuming 54.3% of earnings and 57.5% of free cash flow.
The dividend has grown 7.1% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$21.7B	$3.7B	0.0%	24.5%	11.9%	3.2%	$3.5B	$48.8B	$197M
2024	$20.0B	$3.0B	0.0%	21.6%	11.0%	2.9%	$6.4B	$45.2B	$203M
2023	$19.5B	$2.2B	0.0%	18.3%	8.8%	2.3%	$4.9B	$43.0B	$330M
2022	$19.4B	$2.3B	0.0%	18.0%	9.6%	2.5%	—	$40.9B	$509M
2021	—	$2.5B	—	—	11.1%	2.8%	—	$37.2B	$403M
2020	—	$2.2B	—	—	10.7%	2.7%	—	$33.6B	$393M
2019	—	$1.9B	—	—	9.8%	2.5%	—	$29.6B	$247M
2018	—	$1.9B	—	—	10.1%	2.8%	—	$25.3B	$234M
2017	—	$1.9B	—	—	10.5%	3.0%	—	$22.8B	$215M
2016	—	$618M	—	—	3.6%	1.0%	—	$22.0B	$211M
2015	—	$2.1B	—	—	11.5%	3.3%	—	$20.4B	$176M
2014	—	$1.6B	—	—	9.7%	2.8%	—	$19.9B	$163M
2013	—	$1.5B	—	—	9.2%	2.6%	—	$19.1B	$118M
2012	—	$1.3B	—	—	8.3%	2.3%	—	$18.7B	$279M
2011	—	$1.9B	—	—	13.3%	3.7%	—	$18.2B	$221M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Mar '26	$5.9B	$903M	0.0%	23.0%	2.8%	0.8%	$554M	$51.1B	$306M
Dec '25	$5.3B	$605M	0.0%	21.1%	1.9%	0.5%	$18M	$48.8B	$197M
Sep '25	$6.0B	$1.0B	0.0%	25.5%	3.3%	0.9%	$2.2B	$47.3B	$1.1B
Jun '25	$5.1B	$1.3B	0.0%	27.7%	4.3%	1.2%	—	$46.0B	$227M
Mar '25	$5.6B	$802M	0.0%	22.8%	2.9%	0.8%	$1.4B	$46.3B	$257M
Dec '24	$4.8B	$666M	0.0%	23.0%	2.5%	0.6%	$1.3B	$45.2B	$203M
Sep '24	$5.5B	$962M	0.0%	24.7%	3.6%	1.0%	$2.2B	$43.6B	$246M
Jun '24	$4.7B	$343M	0.0%	14.7%	1.3%	0.3%	—	$43.7B	$203M
Mar '24	$5.1B	$1.0B	0.0%	23.1%	3.9%	1.0%	—	$43.6B	$231M
Dec '23	—	$338M	—	—	1.3%	0.3%	—	$43.0B	$330M
Sep '23	—	$958M	—	—	3.8%	1.0%	—	$42.2B	$353M
Jun '23	—	$516M	—	—	2.2%	0.5%	—	$44.0B	$305M
Mar '23	—	$400M	—	—	1.7%	0.4%	—	$42.8B	$344M
Dec '22	—	$383M	—	—	1.6%	0.4%	—	$40.9B	$509M
Sep '22	—	$683M	—	—	2.8%	0.7%	—	$37.8B	$522M
Jun '22	—	$521M	—	—	2.2%	0.6%	—	$37.6B	$575M
Mar '22	—	$718M	—	—	3.0%	0.8%	—	$37.2B	$676M
Dec '21	—	$539M	—	—	2.4%	0.6%	—	$37.2B	$403M
Sep '21	—	$797M	—	—	3.6%	0.9%	—	$37.1B	$1.4B
Jun '21	—	$574M	—	—	2.7%	0.7%	—	$36.2B	$313M

Valuation over time

How the market has priced AEP against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 21.5× (Mar '23) to 18.4× (Sep '26).
The price-to-sales ratio has risen from 2.6× (Mar '23) to 3.1× (Sep '26).
The dividend yield has fallen from 3.3% (Mar '23) to 3.0% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is AEP growing its revenue and profit?

Over the past 5 years, American Electric Power's revenue has grown 3.8% per year, and net income grown 11.0% per year. These are computed facts, not advice.

How much debt does AEP have?

As of FY2025, American Electric Power reported $48.8B of total debt against $197M of cash; operating income covered interest expense 2.6×.

What is AEP's profit margin?

In FY2025, gross margin was —, operating margin 24.5%, and net margin 17.0%.

What is AEP's P/E ratio?

As of Sep '26, American Electric Power traded at a price-to-earnings ratio of about 18.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.