NRG Financials NRG Energy

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 30 h ago Overview →

Growth & profitability

Revenue has grown 28.4% per year over the past 5 years.
Net income has grown slower than revenue (11.1% vs 28.4% per year).
Operating margin has contracted, at 6.1% in the latest year.
Free cash flow has declined 13.8% per year over the past 5 years.

Financial health

Total debt ($16.6B) exceeds cash ($4.7B); net debt is $11.9B.
Total debt has grown slower than revenue (13.4% vs 28.4% per year).
Operating income covered interest expense 2.5× in the latest year.
Total debt is 5.1× EBITDA.

Shareholder returns

Dividends have been paid for 12 consecutive years, consuming 47.6% of earnings and 53.7% of free cash flow.
The dividend has grown 6.9% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
2025	$30.3B	$864M	0.0%	6.1%	$766M	$16.6B	$4.7B
2024	$27.7B	$1.1B	0.0%	8.7%	$1.8B	$10.9B	$966M
2023	$28.3B	-$202M	0.0%	1.4%	-$819M	$10.9B	$541M
2022	$31.5B	$1.2B	0.0%	6.4%	-$7M	$8.1B	$430M
2021	$26.8B	$2.2B	0.0%	12.5%	$224M	$8.1B	$250M
2020	$8.7B	$510M	24.7%	12.7%	$1.6B	$8.9B	$3.9B
2019	$8.0B	$4.4B	8.6%	16.1%	$1.2B	$6.0B	$345M
2018	$8.1B	$268M	12.8%	12.1%	$989M	$6.7B	$563M
2017	—	-$2.2B	—	—	$1.4B	$9.5B	$770M
2016	—	-$774M	—	—	$1.4B	$16.7B	$591M
2015	—	-$6.4B	—	—	$320M	$19.6B	$853M
2014	—	$134M	—	—	$601M	$20.4B	$2.1B
2013	—	-$386M	—	—	-$717M	$16.8B	$2.3B
2012	—	$295M	—	—	-$2.2B	$15.9B	$2.1B
2011	—	$197M	—	—	-$1.1B	$9.7B	$1.1B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Mar '26	$10.1B	$125M	0.0%	3.2%	-$486M	$23.2B	$178M
Dec '25	$7.7B	$66M	0.0%	3.9%	-$175M	$16.6B	$4.7B
Sep '25	$7.5B	$152M	0.0%	5.5%	$230M	$11.9B	$732M
Jun '25	$6.7B	-$104M	0.0%	0.0%	$73M	$10.9B	$180M
Mar '25	$8.5B	$750M	0.0%	13.4%	$638M	$10.8B	$693M
Dec '24	$6.8B	$643M	0.0%	14.1%	$766M	$10.9B	$966M
Sep '24	$7.1B	-$767M	0.0%	-11.4%	-$83M	$10.9B	$1.1B
Jun '24	$6.5B	$738M	0.0%	21.8%	$953M	$10.9B	$376M
Mar '24	$7.4B	$511M	0.0%	11.8%	$198M	$10.8B	$278M
Dec '23	$6.7B	$482M	0.0%	12.6%	$136M	$10.9B	$541M
Sep '23	$7.9B	$343M	0.0%	7.1%	$397M	$11.9B	$401M
Jun '23	$6.2B	$308M	0.0%	8.5%	$388M	$12.3B	$422M
Mar '23	$7.5B	-$1.3B	0.0%	-20.5%	-$1.7B	$12.5B	$407M
Dec '22	$7.7B	-$1.1B	0.0%	-17.2%	-$1.5B	$8.1B	$430M
Sep '22	$8.4B	$67M	0.0%	1.9%	-$1.5B	$8.0B	$333M
Jun '22	$7.5B	$513M	0.0%	10.1%	$1.4B	$8.0B	$580M
Mar '22	$8.0B	$1.7B	0.0%	30.4%	$1.6B	$8.0B	$387M
Dec '21	$7.1B	-$427M	0.0%	-6.8%	-$1.4B	$8.1B	$250M
Sep '21	$6.5B	$1.6B	0.0%	35.7%	$1.4B	$8.5B	$259M
Jun '21	$5.3B	$1.1B	43.9%	29.6%	$1.2B	$8.8B	$361M

Valuation over time

How the market has priced NRG 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 risen from 5.9× (Mar '23) to 35.9× (Jun '26).
The price-to-sales ratio has risen from 0.2× (Mar '23) to 1.0× (Jun '26).
The dividend yield has fallen from 4.6% (Mar '23) to 1.3% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is NRG growing its revenue and profit?

Over the past 5 years, NRG Energy's revenue has grown 28.4% per year, and net income grown 11.1% per year. These are computed facts, not advice.

How much debt does NRG have?

As of FY2025, NRG Energy reported $16.6B of total debt against $4.7B of cash; operating income covered interest expense 2.5×.

What is NRG's profit margin?

In FY2025, gross margin was —, operating margin 6.1%, and net margin 2.8%.

What is NRG's P/E ratio?

As of Jun '26, NRG Energy traded at a price-to-earnings ratio of about 35.9× (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.