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FE Financials FirstEnergy

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 Overview →

Growth & profitability

  • Revenue has grown 6.9% per year over the past 5 years.
  • Net income has grown slower than revenue (-1.1% vs 6.9% per year).
  • Operating margin has contracted, at 14.6% in the latest year.

Financial health

  • Operating income covered interest expense 1.8× in the latest year.

Shareholder returns

  • Dividends have been paid for 15 consecutive years, consuming 99.6% of earnings.
  • The dividend has grown 3.8% per year over the past 5 years.
Revenue & net income
-$6B $5B $15B $0 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
-58% -17% 23% 0% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-99% -40% 20% 0% 2011 2013 2015 2017 2019 2021 2023 2025
ROEROA
Free cash flow (CFO − capex)
-$2B -$374M $1B $0 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $867M $2B 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$5B -$629M $4B $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 $15.1B $1.0B 0.0% 14.6% 8.2% 1.8% -$1.0B — $57M
2024 $13.5B $978M 0.0% 17.6% 7.9% 1.9% -$1.1B — $111M
2023 $12.9B $1.1B 0.0% 17.6% 10.6% 2.3% -$2.0B — $137M
2022 $12.5B $406M 0.0% 15.3% 4.0% 0.9% -$165M — $160M
2021 $11.1B $1.3B 0.0% 15.5% 14.8% 2.8% $324M — $1.5B
2020 $10.8B $1.1B 0.0% 20.0% 14.9% 2.4% -$1.2B — $1.7B
2019 $11.0B $912M 0.0% 22.7% 13.1% 2.2% -$198M — $627M
2018 $11.3B $1.3B 0.0% 22.2% 19.8% 3.4% -$1.3B — $367M
2017 $10.9B -$1.7B 0.0% 22.2% -43.9% -4.1% $1.2B — $588M
2016 $10.7B -$6.2B 0.0% 19.2% -99.0% -14.3% $548M — $199M
2015 $15.0B $578M 0.0% 15.3% 4.7% 1.1% $756M — $131M
2014 $15.0B $299M 0.0% 7.1% 2.4% 0.6% -$599M — $85M
2013 $14.9B $392M 0.0% 10.6% 3.1% 0.8% — — $218M
2012 $15.3B $770M 0.0% 14.0% 5.9% 1.5% — — $172M
2011 — $885M — — 6.7% 1.9% $934M — $202M

Valuation over time

How the market has priced FE 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.

Price / earnings (P/E)
0.0 28.5 57.1 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 1.0 2.0 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S
Dividend yield (%)
0.0 2.3 4.5 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
Dividend yield %

Frequently asked questions

Is FE growing its revenue and profit?

Over the past 5 years, FirstEnergy's revenue has grown 6.9% per year, and net income declined 1.1% per year. These are computed facts, not advice.

How much debt does FE have?

As of FY2025, FirstEnergy reported — of total debt against $57M of cash; operating income covered interest expense 1.8×.

What is FE's profit margin?

In FY2025, gross margin was —, operating margin 14.6%, and net margin 6.8%.

What is FE's P/E ratio?

FirstEnergy's P/E (TTM) is 25.87 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the FE stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 27.0× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.