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NRG logoNRG Energy, Inc.(NRG)Earnings, Financials & Key Ratios

NRG•NYSE•Utilities
$157.43
$29.97B mkt cap·38.5× P/E·Price updated May 6, 2026
SectorUtilitiesIndustryIndependent PowerSub-IndustryIntegrated Retail and Generation
AboutNRG Energy, Inc., together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West. The company is involved in the producing, selling, and delivering electricity and related products and services to approximately 6 million residential, commercial, industrial, and wholesale customers. It generates electricity using natural gas, coal, oil, solar, nuclear, and battery storage. The company also provides system power, distributed generation, renewable products, backup generation, storage and distributed solar, demand response, and energy efficiency, and advisory services, as well as carbon management and specialty services; and on-site energy solutions. In addition, it trades in electric power, natural gas, and related commodities; environmental products; weather products; and financial products, including forwards, futures, options, and swaps. Further, the company procures fuels; provides transportation services; and directly sells energy, services, and products and services to retail customers under the NRG, Reliant, Direct Energy, Green Mountain Energy, Stream, and XOOM Energy. As of December 31, 2021, it owns and leases power generation portfolio with approximately 18,000 megawatts of capacity at 25 plants. NRG Energy, Inc. was founded in 1989 and is headquartered in Houston, Texas.Show more
  • Revenue$30.71B+9.2%
  • EBITDA$3.81B-0.6%
  • Net Income$864M-23.2%
  • Free Cash Flow$766M-58.2%
  • EBITDA Margin12.39%-8.9%
  • Net Margin2.81%-29.7%
  • ROE41.55%-0.6%
  • Interest Coverage2.40-35.6%
  • Debt/Equity9.89+122.9%
  • Net Debt/EBITDA4.30+64.2%
  • CapEx / Revenue3.73%+114.4%
  • CapEx Coverage1.67-64.6%
Analysis→Technical→

NRG Key Insights

NRG Energy, Inc. (NRG) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 25.8%
  • ✓Strong Piotroski F-Score: 7/9

✗Weaknesses

  • ✗High debt to equity ratio of 9.9x
  • ✗Expensive at 19.8x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

NRG Price & Volume

NRG Energy, Inc. (NRG) stock price & volume — 10-year historical chart

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NRG Growth Metrics

NRG Energy, Inc. (NRG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years9.56%
5 Years27.56%
3 Years-0.89%
TTM9.17%

Profit CAGR

10 Years-
5 Years11.12%
3 Years-10.89%
TTM-23.2%

EPS CAGR

10 Years-
5 Years14.59%
3 Years-7.51%
TTM-16.36%

Return on Capital

10 Years13.13%
5 Years20.77%
3 Years22.45%
Last Year49.73%

NRG Recent Earnings

NRG Energy, Inc. (NRG) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 6/12 qtrs (50%)
Q1 2026Latest
Feb 24, 2026
EPS
$1.03
Est $0.97
+6.0%
Revenue
$7.8B
Est $6.7B
+16.3%
Q4 2025
Nov 6, 2025
EPS
$2.75
Est $2.14
+28.5%
Revenue
$7.6B
Est $7.5B
+2.3%
Q3 2025
Aug 6, 2025
EPS
$1.68
Est $1.74
-3.4%
Revenue
$6.7B
Est $6.5B
+4.5%
Q2 2025
May 12, 2025
EPS
$2.62
Est $1.75
+49.7%
Revenue
$8.6B
Est $7.9B
+8.4%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 24, 2026
$1.03vs $0.97+6.0%
$7.8Bvs $6.7B+16.3%
Q4 2025Nov 6, 2025
$2.75vs $2.14+28.5%
$7.6Bvs $7.5B+2.3%
Q3 2025Aug 6, 2025
$1.68vs $1.74-3.4%
$6.7Bvs $6.5B+4.5%
Q2 2025May 12, 2025
$2.62vs $1.75+49.7%
$8.6Bvs $7.9B+8.4%
Based on last 12 quarters of dataView full earnings history →

NRG Peer Comparison

NRG Energy, Inc. (NRG) competitors in Integrated Retail and Generation — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
VST logoVSTVistra Corp.Direct Competitor54.3B160.3872.57-12.41%5.64%18.87%0.24%3.99
CEG logoCEGConstellation Energy CorporationDirect Competitor100.08B320.4243.308.34%9.08%15.61%1.29%0.61
EXC logoEXCExelon CorporationDirect Competitor46.64B46.1816.925.34%11.6%10.03%1.73
AES logoAESThe AES CorporationDirect Competitor10.25B14.3711.40-0.37%8.42%10.65%2.54
DYN logoDYNDyne Therapeutics, Inc.Direct Competitor2.88B17.47-5.03-61.46%0.02
D logoDDominion Energy, Inc.Product Competitor55.37B62.9918.2614.16%13.48%7.08%1.46
DUK logoDUKDuke Energy CorporationProduct Competitor99.28B127.5820.226.19%15.44%9.6%1.71
SO logoSOThe Southern CompanyProduct Competitor108.11B95.9024.4610.59%14.46%11.3%1.69

Compare NRG vs Peers

NRG Energy, Inc. (NRG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs VST

Most directly comparable listed peer for NRG.

Scale Benchmark

vs GE

Larger-name benchmark to compare NRG against a more recognizable public peer.

Peer Set

Compare Top 5

vs VST, CEG, EXC, AES

NRG Income Statement

NRG Energy, Inc. (NRG) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue9.07B9.48B9.82B9.09B26.99B31.54B28.82B28.13B30.71B
Revenue Growth %1.78%4.45%3.62%-7.41%196.81%16.87%-8.62%-2.4%9.17%
Cost of Revenue6.89B7.11B7.3B6.54B20.48B27.44B26.53B22.1B24B
Gross Profit
2.19B▲ 0%
2.37B▲ 8.3%
2.52B▲ 6.2%
2.55B▲ 1.4%
6.51B▲ 154.9%
4.1B▼ 37.0%
2.3B▼ 44.0%
6.03B▲ 162.5%
6.71B▲ 11.3%
Gross Margin %24.11%25.01%25.64%28.08%24.11%13%7.97%21.44%21.85%
Gross Profit Growth %-2.28%8.32%6.24%1.39%154.88%-36.99%-43.98%162.52%11.28%
Operating Expenses2.93B1.39B1.23B1.45B3.17B2.08B1.91B3.61B4.86B
Other Operating Expenses---------
EBITDA-40M1.52B1.79B1.66B4.18B2.74B1.68B3.83B3.81B
EBITDA Margin %-0.44%16.06%18.2%18.3%15.48%8.68%5.83%13.6%12.39%
EBITDA Growth %-104.34%3905%17.41%-6.88%151.02%-34.45%-38.68%127.93%-0.57%
Depreciation & Amortization701M540M497M559M836M720M1.29B1.4B1.96B
D&A / Revenue %7.73%5.7%5.06%6.15%3.1%2.28%4.49%4.99%6.37%
Operating Income (EBIT)
-741M▲ 0%
982M▲ 232.5%
1.29B▲ 31.4%
1.1B▼ 14.3%
3.34B▲ 202.4%
2.02B▼ 39.6%
384M▼ 81.0%
2.42B▲ 531.3%
1.85B▼ 23.7%
Operating Margin %-8.17%10.36%13.14%12.15%12.38%6.4%1.33%8.62%6.02%
Operating Income Growth %-2345.45%232.52%31.36%-14.34%202.35%-39.6%-80.97%531.25%-23.68%
Interest Expense557M483M413M401M485M417M667M651M772M
Interest Coverage-1.33x2.03x3.12x2.76x6.89x4.84x0.58x3.72x2.40x
Interest / Revenue %6.14%5.1%4.21%4.41%1.8%1.32%2.31%2.31%2.51%
Non-Operating Income-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K
Pretax Income
-1.39B▲ 0%
467M▲ 133.6%
786M▲ 68.3%
761M▼ 3.2%
2.86B▲ 275.7%
1.66B▼ 41.8%
-213M▼ 112.8%
1.45B▲ 779.8%
1.08B▼ 25.6%
Pretax Margin %-15.31%4.93%8%8.37%10.59%5.27%-0.74%5.15%3.51%
Income Tax-44M7M-3.33B251M672M442M-11M323M214M
Effective Tax Rate %3.17%1.5%-424.17%32.98%23.5%26.58%5.16%22.31%19.85%
Net Income
-2.15B▲ 0%
268M▲ 112.4%
4.44B▲ 1556.0%
510M▼ 88.5%
2.19B▲ 328.8%
1.22B▼ 44.2%
-202M▼ 116.5%
1.13B▲ 656.9%
864M▼ 23.2%
Net Margin %-23.73%2.83%45.19%5.61%8.1%3.87%-0.7%4%2.81%
Net Income Growth %-178.17%112.45%1555.97%-88.51%328.82%-44.17%-116.54%656.93%-23.2%
EPS (Diluted)
-6.79▲ 0%
0.87▲ 112.8%
16.81▲ 1832.2%
2.07▼ 87.7%
8.93▲ 331.4%
5.17▼ 42.1%
-1.12▼ 121.7%
4.99▲ 545.5%
4.09▼ 18.0%
EPS Growth %-205.86%112.81%1832.18%-87.69%331.4%-42.11%-121.66%545.54%-18.04%
EPS (Basic)-6.790.8816.942.088.935.17-1.125.144.09
Diluted Shares Outstanding317M308M264M246M245M236M228M212M211.25M

NRG Balance Sheet

NRG Energy, Inc. (NRG) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets23.32B10.63B12.53B14.9B23.18B29.15B26.04B24.02B260M
Asset Growth %-23.18%-54.42%17.91%18.92%55.56%25.73%-10.66%-7.74%-98.92%
PP&E (Net)5.97B3.05B3.06B2.85B1.96B1.92B1.94B2.17B0
PP&E / Total Assets %25.62%28.68%24.4%19.11%8.45%6.58%7.46%9.04%0%
Total Current Assets4.44B3.6B3.09B6.03B10.84B16.23B9.73B8.96B260M
Cash & Equivalents770M563M345M3.9B250M430M541M966M260M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K0
Inventory453M412M383M327M498M751M607M478M0
Other Current Assets1.97B1.3B1.09B635M5.76B9.89B5.04B4.03B0
Long-Term Investments874M1.07B1.18B1.24B1.17B971M42M45M0
Goodwill539M573M579M579M1.79B1.65B5.08B5.01B0
Intangible Assets1.75B591M789M668M2.51B2.13B3.93B2.91B0
Other Assets844M1.7B550M477M2.76B4.36B3.07B2.85B0
Total Liabilities21.27B11.84B10.85B13.22B19.58B25.32B23.13B21.54B27.46B
Total Debt9.38B6.52B6.45B9.04B8.29B8.3B10.97B10.99B16.62B
Net Debt15.41B5.96B6.1B5.13B8.04B7.87B10.43B10.03B16.36B
Long-Term Debt9.18B6.45B5.8B8.69B7.97B7.98B10.13B9.81B16.56B
Short-Term Borrowings204M72M88M1M4M63M620M996M66M
Capital Lease Obligations00556M347M317M263M218M183M0
Total Current Liabilities3.32B2.4B2.36B1.92B7.92B12.98B9.5B8.81B8.03B
Accounts Payable684M863M722M649M2.27B3.64B2.33B2.51B2.83B
Accrued Expenses917M680M663M678M1.32B1.11B435M477M0
Deferred Revenue00000176M720M711M748M
Other Current Liabilities1.49B783M813M518M4.23B7.9B5.31B4.05B4.38B
Deferred Taxes1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Liabilities8.75B2.93B2.19B2.32B3.39B4.04B2.44B1.93B2.86B
Total Equity
2.05B▲ 0%
-1.22B▼ 159.4%
1.68B▲ 238.1%
1.68B▲ 0.1%
3.6B▲ 114.3%
3.83B▲ 6.3%
2.91B▼ 24.1%
2.48B▼ 14.7%
1.68B▼ 32.2%
Equity Growth %-54.45%-159.38%238.11%0.12%114.29%6.33%-24.09%-14.73%-32.16%
Shareholders Equity-346M-1.23B1.66B1.68B3.6B3.83B2.91B2.48B1.68B
Minority Interest2.39B19M20M000000
Common Stock4M4M4M4M4M4M3M2M2M
Additional Paid-in Capital8.38B8.51B8.5B8.52B8.53B8.46B3.42B705M0
Retained Earnings-6.27B-6.02B-1.62B-1.4B464M1.41B820M1.53B1.98B
Accumulated OCI-72M-94M-192M-206M-126M-177M-91M-117M-81M
Return on Assets (ROA)-8.02%1.58%38.33%3.72%11.49%4.67%-0.73%4.49%7.12%
Return on Equity (ROE)-65.86%64.5%1917.06%30.38%82.84%32.88%-6%41.79%41.55%
Debt / Equity4.59x-3.84x5.38x2.30x2.17x3.78x4.44x9.89x
Debt / Assets40.24%61.36%51.45%60.66%35.75%28.48%42.13%45.75%6393.08%
Net Debt / EBITDA-3.91x3.41x3.09x1.92x2.88x6.21x2.62x4.30x
Book Value per Share6.45-3.946.366.8314.6916.2212.7511.697.96

NRG Cash Flow Statement

NRG Energy, Inc. (NRG) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations1.61B1.38B1.41B1.84B493M360M-221M2.31B1.91B
Operating CF Growth %-15.62%-14.47%2.61%30.01%-73.16%-26.98%-161.39%1143.44%-17.04%
Operating CF / Revenue %17.74%14.53%14.39%20.2%1.83%1.14%-0.77%8.2%6.23%
Net Income-1.55B460M4.44B510M2.19B1.22B-202M1.13B864M
Depreciation & Amortization701M540M497M559M836M688M1.17B1.07B896M
Deferred Taxes13M5M-3.35B228M604M0000
Other Non-Cash Items2.64B820M3.37B126M-40M1.13B-911M1.04B19M
Working Capital Changes-432M-281M-3.56B392M-3.12B-2.71B-383M-1.04B0
Capital Expenditures-639M-388M556M-494M-3.04B-367M-910M-472M-1.15B
CapEx / Revenue %7.04%4.09%5.66%5.43%11.26%1.18%3.16%1.74%3.73%
CapEx / D&A0.91x0.72x1.12x0.88x3.64x0.54x0.78x0.46x1.28x
CapEx Coverage (OCF/CapEx)2.52x3.55x2.54x3.72x0.16x0.97x-0.24x4.71x1.67x
Cash from Investing-639M-205M556M-494M-3.04B-332M-910M-24M-1.64B
Acquisitions416M1.05B939M-203M-2.73B47M-516M463M-596M
Purchase of Investments-512M-572M-507M-492M-751M-454M-367M00
Sale of Investments1000K1000K1000K1000K1000K1000K1000K00
Other Investing-733M-772M-29M000240M3M105M
Cash from Financing-1.14B-1.53B-2.15B2.2B-272M1.04B-400M-1.75B0
Dividends Paid-38M-37M-32M-295M-319M-332M-381M-405M0
Dividend Payout Ratio %-13.81%0.72%57.84%14.59%27.19%-36%-
Debt Issuance (Net)-1000K-1000K-1000K1000K-1000K-1000K1000K-1000K0
Stock Issued021M3M1M1M0635M00
Share Repurchases-2M-1.25B-1.44B-229M-48M-606M-1.17B-935M0
Other Financing-374M393M11M-14M873M1.99B342M-315M0
Net Change in Cash
-335M▲ 0%
-469M▼ 40.0%
-227M▲ 51.6%
3.56B▲ 1667.4%
-3.65B▼ 202.5%
205M▲ 105.6%
95M▼ 53.7%
409M▲ 330.5%
0▼ 100.0%
Exchange Rate Effect-1000K-1000K-1000K1000K-1000K-1000K1000K-1000K0
Cash at Beginning1.38B1.05B580M353M3.91B265M470M565M0
Cash at End1.05B580M353M3.91B265M470M565M974M0
Free Cash Flow
971M▲ 0%
989M▲ 1.9%
1.97B▲ 99.1%
1.34B▼ 31.8%
-2.55B▼ 289.6%
-7M▲ 99.7%
-1.13B▼ 16057.1%
1.83B▲ 262.2%
766M▼ 58.2%
FCF Growth %-12.68%1.85%99.09%-31.79%-289.58%99.73%-16057.14%262.16%-58.23%
FCF Margin %10.7%10.43%20.05%14.77%-9.43%-0.02%-3.92%6.52%2.49%
FCF / Net Income %-45.1%369.03%44.37%263.33%-116.42%-0.57%559.9%163.02%88.66%

NRG Key Ratios

NRG Energy, Inc. (NRG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-15.09%-65.86%64.5%1917.06%30.38%82.84%32.88%-6%41.79%41.55%
EBITDA Margin10.34%-0.44%16.06%18.2%18.3%15.48%8.68%5.83%13.6%12.39%
Net Debt / EBITDA18.71x-3.91x3.41x3.09x1.92x2.88x6.21x2.62x4.30x
Interest Coverage0.06x-1.33x2.03x3.12x2.76x6.89x4.84x0.58x3.72x2.40x
CapEx / Revenue6.11%7.04%4.09%5.66%5.43%11.26%1.18%3.16%1.74%3.73%
Dividend Payout Ratio--13.81%0.72%57.84%14.59%27.19%-36%-
Debt / Equity3.67x4.59x-3.84x5.38x2.30x2.17x3.78x4.44x9.89x
EPS Growth88.59%-205.86%112.81%1832.18%-87.69%331.4%-42.11%-121.66%545.54%-18.04%

NRG SEC Filings & Documents

NRG Energy, Inc. (NRG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 14, 2026·SEC

Material company update

Apr 7, 2026·SEC

Material company update

Mar 4, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 26, 2025·SEC

10-Q Quarterly Reports

4
FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 12, 2025·SEC

NRG Frequently Asked Questions

NRG Energy, Inc. (NRG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

NRG Energy, Inc. (NRG) reported $30.71B in revenue for fiscal year 2025. This represents a 25870% increase from $118.3M in 1997.

NRG Energy, Inc. (NRG) grew revenue by 9.2% over the past year. This is steady growth.

Yes, NRG Energy, Inc. (NRG) is profitable, generating $864.0M in net income for fiscal year 2025 (2.8% net margin).

Dividend & Returns

NRG Energy, Inc. (NRG) has a return on equity (ROE) of 41.5%. This is excellent, indicating efficient use of shareholder capital.

NRG Energy, Inc. (NRG) generated $196.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

NRG Energy, Inc. (NRG) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

Explore More NRG

NRG Energy, Inc. (NRG) financial analysis — history, returns, DCA and operating performance tools

Full NRG Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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