Revenue grew 10.7% YoY in 2026Q2 to $2.2B, with operating margin stable at 24.8%, but net margin of 11.3% implies earned ROE below authorized levels, indicating regulatory lag.
CenterPoint Energy, Inc. (CNP) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Revenue | 9.62B | 9.36B | 8.64B | 8.7B | 9.32B | 8.35B | 7.42B | 7.56B | 6.28B | 9.61B | 7.53B | 7.39B | 9.23B | 8.11B | 7.45B | 8.45B | 8.79B | 8.28B | 11.32B | 9.62B | 9.32B | 9.72B | 8B | 7.79B | 6.44B | 10.66B | 10.37B | 15.21B | 11.23B | 6.88B | 4.1B |
| Revenue Growth % | 7.1% | 8.26% | -0.61% | -6.71% | 11.6% | 12.59% | -1.93% | 20.5% | -34.71% | 27.71% | 1.92% | -19.94% | 13.82% | 8.78% | -11.81% | -3.81% | 6.09% | -26.86% | 17.66% | 3.26% | -4.15% | 21.54% | 2.69% | 21% | -39.59% | 2.72% | -31.8% | 35.46% | 63.26% | 67.95% | 9.81% |
| Cost of Revenue | 4.42B | 6.67B | 4.67B | 5.01B | 5.92B | 5.14B | 4.49B | 4.79B | 3.77B | 7.05B | 5B | 5.11B | 6.89B | 5.75B | 4.75B | 5.89B | 6.29B | 4.37B | 7.47B | 6B | 5.91B | 6.51B | 5.01B | 4.3B | 2.95B | 6.37B | 6.03B | 10.84B | 7.03B | 3.55B | 1.37B |
| Gross Profit | 5.2B | 2.69B | 3.98B | 3.69B | 3.4B | 3.21B | 2.93B | 2.77B | 2.5B | 2.56B | 2.53B | 2.28B | 2.34B | 2.35B | 2.71B | 2.56B | 2.49B | 3.91B | 3.86B | 3.63B | 3.41B | 3.21B | 2.99B | 3.49B | 3.48B | 4.29B | 4.35B | 4.37B | 4.2B | 3.33B | 2.73B |
| Gross Margin % | 54.06% | 28.71% | 46% | 42.39% | 36.44% | 38.4% | 39.49% | 36.62% | 39.86% | 26.66% | 33.65% | 30.83% | 25.32% | 29% | 36.3% | 30.3% | 28.37% | 47.22% | 34.06% | 37.7% | 36.59% | 33.05% | 37.33% | 44.83% | 54.11% | 40.27% | 41.91% | 28.72% | 37.39% | 48.37% | 66.65% |
| Gross Profit Growth % | - | -32.44% | 7.87% | 8.51% | 5.92% | 9.49% | 5.74% | 10.71% | -2.38% | 1.18% | 11.24% | -2.53% | -0.64% | -13.09% | 5.66% | 2.73% | -36.27% | 1.4% | 6.28% | 6.39% | 6.13% | 7.6% | -14.48% | 0.23% | -18.81% | -1.3% | -0.49% | 4.04% | 26.2% | 21.89% | 4.31% |
| Operating Expenses | 2.96B | 576M | 1.99B | 1.93B | 1.83B | 1.84B | 1.89B | 1.7B | 1.63B | 1.43B | 1.51B | 1.34B | 1.4B | 1.34B | 1.67B | 1.26B | 1.24B | 2.79B | 2.58B | 2.41B | 2.37B | 2.15B | 1.9B | 2.14B | 2.04B | 3.05B | 3.3B | 3.11B | 2.92B | 2.38B | 1.83B |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | 3.9B | 3.64B | 3.43B | 3.16B | 2.85B | 2.68B | 2.23B | 2.3B | 2.11B | 2.17B | 2.15B | 1.9B | 1.95B | 1.96B | 2.09B | 2.18B | 2.11B | 1.87B | 1.98B | 1.91B | 1.7B | 1.68B | 1.67B | 1.96B | 2.2B | 1.94B | 1.96B | 2.16B | 2.16B | 1.62B | 1.48B |
| EBITDA Margin % | 40.55% | 38.9% | 39.67% | 36.35% | 30.62% | 32.08% | 30.04% | 30.35% | 33.63% | 22.59% | 28.55% | 25.76% | 21.11% | 24.23% | 28.02% | 25.85% | 24.05% | 22.55% | 17.5% | 19.88% | 18.24% | 17.26% | 20.89% | 25.18% | 34.12% | 18.21% | 18.87% | 14.23% | 19.25% | 23.6% | 36.12% |
| EBITDA Growth % | 14.87% | 6.15% | 8.48% | 10.76% | 6.53% | 20.24% | -2.96% | 8.76% | -2.81% | 1.07% | 12.93% | -2.31% | -0.81% | -5.94% | -4.4% | 3.36% | 13.18% | -5.75% | 3.55% | 12.53% | 1.31% | 0.42% | -14.82% | -10.69% | 13.19% | -0.88% | -9.53% | 0.1% | 33.19% | 9.72% | 4.98% |
| Depreciation & Amortization | 1.67B | 1.53B | 1.44B | 1.4B | 1.29B | 1.32B | 1.19B | 1.23B | 1.24B | 1.04B | 1.13B | 970M | 1.01B | 954M | 1.05B | 886M | 864M | 743M | 708M | 696M | 655M | 618M | 582M | 606.21M | 756.68M | 700.76M | 906.32M | 905.3M | 882.1M | 0 | 0 |
| D&A / Revenue % | 17.31% | 16.35% | 16.65% | 16.11% | 13.82% | 15.76% | 16.03% | 16.2% | 19.8% | 10.78% | 14.96% | 13.13% | 10.98% | 11.77% | 14.09% | 10.49% | 9.83% | 8.97% | 6.25% | 7.23% | 7.03% | 6.36% | 7.28% | 7.78% | 11.75% | 6.58% | 8.74% | 5.95% | 7.86% | 0% | 0% |
| Operating Income (EBIT) | 2.24B | 2.11B | 1.99B | 1.76B | 1.57B | 1.36B | 1.04B | 1.07B | 868M | 1.14B | 1.02B | 933M | 935M | 1.01B | 1.04B | 1.3B | 1.25B | 1.12B | 1.27B | 1.22B | 1.04B | 1.06B | 1.09B | 1.36B | 1.44B | 1.24B | 1.05B | 1.26B | 1.28B | 943.1M | 895.5M |
| Operating Margin % | 23.24% | 22.55% | 23.02% | 20.24% | 16.8% | 16.32% | 14.01% | 14.16% | 13.83% | 11.82% | 13.59% | 12.63% | 10.13% | 12.46% | 13.93% | 15.36% | 14.22% | 13.57% | 11.24% | 12.65% | 11.21% | 10.9% | 13.61% | 17.4% | 22.36% | 11.63% | 10.14% | 8.28% | 11.4% | 13.71% | 21.87% |
| Operating Income Growth % | - | 6.03% | 13.07% | 12.39% | 14.89% | 31.18% | -2.99% | 23.39% | -23.59% | 11.05% | 9.65% | -0.21% | -7.43% | -2.7% | -20.03% | 3.92% | 11.12% | -11.7% | 4.6% | 16.46% | -1.42% | -2.66% | -19.66% | -5.86% | 16.13% | 17.9% | -16.47% | -1.65% | 35.71% | 5.32% | -1.1% |
| Interest Expense | 4M | 903M | 838M | 701M | 524M | 529M | 529M | 567M | 420M | 390M | 429M | 457M | 471M | 484M | 569M | 583M | 621M | 644M | 604M | 0 | 600M | 710M | 0 | 933.82M | 0 | 0 | 754.44M | 0 | 0 | 0 | 0 |
| Interest Coverage | - | 2.38x | 2.45x | 2.55x | 3.70x | 2.47x | 2.06x | 1.96x | 2.31x | 3.73x | 2.60x | -1.47x | 2.88x | 2.61x | 2.33x | 3.01x | 2.14x | 1.85x | 2.20x | - | 1.74x | 1.49x | - | 1.45x | - | - | 1.39x | - | - | - | - |
| Interest / Revenue % | 0.04% | 9.65% | 9.7% | 8.06% | 5.62% | 6.33% | 7.13% | 7.5% | 6.69% | 4.06% | 5.7% | 6.19% | 5.11% | 5.97% | 7.64% | 6.9% | 7.07% | 7.78% | 5.33% | 0% | 6.44% | 7.3% | 0% | 11.99% | 0% | 0% | 7.27% | 0% | 0% | 0% | 0% |
| Non-Operating Income | -4M | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K |
| Pretax Income | 1.32B | 1.25B | 1.21B | 1.09B | 1.42B | 778M | 563M | 545M | 551M | 1.06B | 686M | -1.13B | 885M | 781M | 757M | 1.17B | 705M | 548M | 723M | 594M | 494M | 378M | 344M | 613.84M | 754.21M | 675.18M | 456.24M | 2.56B | -360.93M | 627.5M | 605.1M |
| Pretax Margin % | 13.74% | 13.33% | 14.05% | 12.5% | 15.2% | 9.32% | 7.59% | 7.21% | 8.78% | 11.06% | 9.11% | -15.3% | 9.59% | 9.63% | 10.16% | 13.89% | 8.03% | 6.62% | 6.39% | 6.17% | 5.3% | 3.89% | 4.3% | 7.88% | 11.72% | 6.34% | 4.4% | 16.86% | -3.21% | 9.12% | 14.78% |
| Income Tax | 205M | 195M | 195M | 170M | 360M | 110M | 80M | 30M | 155M | -729M | 254M | -438M | 274M | 470M | 340M | 404M | 263M | 176M | 277M | 195M | 62M | 153M | 138M | 205.06M | 272.25M | 228.25M | 234.2M | 899.12M | -82.56M | 206.4M | 200.2M |
| Effective Tax Rate % | 15.51% | 15.64% | 16.06% | 15.64% | 25.41% | 14.14% | 14.21% | 5.5% | 28.13% | -68.58% | 37.03% | 38.76% | 30.96% | 60.18% | 44.91% | 34.41% | 37.3% | 32.12% | 38.31% | 32.83% | 12.55% | 40.48% | 40.12% | 33.41% | 36.1% | 33.81% | 51.33% | 35.06% | 22.88% | 32.89% | 33.09% |
| Net Income | 1.12B | 1.05B | 1.02B | 917M | 1.06B | 1.49B | -773M | 791M | 368M | 1.79B | 432M | -692M | 611M | 311M | 417M | 1.36B | 442M | 372M | 447M | 399M | 432M | 252M | -904.7M | 483.67M | -3.92B | 980.56M | 447.5M | 1.85B | -141.1M | 421.1M | 404.9M |
| Net Margin % | 11.61% | 11.24% | 11.79% | 10.55% | 11.34% | 17.79% | -10.42% | 10.46% | 5.86% | 18.64% | 5.74% | -9.37% | 6.62% | 3.84% | 5.6% | 16.06% | 5.03% | 4.49% | 3.95% | 4.15% | 4.64% | 2.59% | -11.31% | 6.21% | -60.9% | 9.2% | 4.31% | 12.16% | -1.26% | 6.12% | 9.89% |
| Net Income Growth % | 19.34% | 3.24% | 11.12% | -13.25% | -28.87% | 292.24% | -197.72% | 114.95% | -79.46% | 314.81% | 162.43% | -213.26% | 96.46% | -25.42% | -69.27% | 207.01% | 18.82% | -16.78% | 12.03% | -7.64% | 71.43% | 127.85% | -287.05% | 112.34% | -499.8% | 119.12% | -75.8% | 1410.42% | -133.51% | 4% | -63.37% |
| EPS (Diluted) | 1.68 | 1.60 | 1.58 | 1.37 | 1.59 | 2.28 | -1.79 | 1.33 | 0.74 | 4.13 | 1.00 | -1.61 | 1.42 | 0.72 | 0.97 | 3.17 | 1.07 | 1.01 | 1.30 | 1.17 | 1.33 | 0.75 | -2.94 | 1.46 | -13.16 | 3.35 | 1.56 | 5.18 | -0.50 | 1.66 | 1.66 |
| EPS Growth % | 18.88% | 1.27% | 15.33% | -13.84% | -30.26% | 227.37% | -234.59% | 79.73% | -82.08% | 313% | 162.11% | -213.38% | 97.22% | -25.77% | -69.4% | 196.26% | 5.94% | -22.31% | 11.11% | -12.03% | 77.33% | 125.51% | -301.37% | 111.09% | -492.84% | 114.74% | -69.88% | 1136% | -130.12% | 0% | -62.78% |
| EPS (Basic) | - | 1.61 | 1.58 | 1.37 | 1.60 | 2.35 | -1.79 | 1.34 | 0.74 | 4.16 | 1.00 | -1.61 | 1.42 | 0.73 | 0.98 | 3.19 | 1.08 | 1.02 | 1.32 | 1.25 | 1.39 | 0.81 | -2.94 | 1.59 | -13.16 | 3.38 | 1.57 | 5.20 | -0.50 | 1.66 | 1.66 |
| Diluted Shares Outstanding | 666M | 656M | 644.14M | 633.18M | 632.35M | 609.94M | 531.03M | 505.16M | 452.46M | 434.31M | 433.6M | 430.18M | 431.67M | 431M | 430M | 429M | 413M | 368M | 344M | 342.51M | 324.81M | 336M | 364.52M | 331.28M | 299.71M | 292.45M | 286.61M | 286.02M | 282.96M | 253.55M | 243.92M |
Quick answers to the most common questions about buying CNP stock.
For fiscal year 2025, CenterPoint Energy, Inc. (CNP) reported total revenue of $9.36B. This represents a 128.5% increase compared to $4.10B in 1996.
CenterPoint Energy, Inc. (CNP) is profitable, generating $1.05B in net income for the fiscal year ending 2025 with a net profit margin of 11.2%.
CenterPoint Energy, Inc. (CNP) reported an operating income of $2.11B, resulting in an operating profit margin of 22.6%. This margin reflects the operational efficiency of the business before interest and taxes.
CenterPoint Energy, Inc. (CNP) generated $2.69B in gross profit for the year, representing a gross profit margin of 28.7%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Regulatory lag and storm costs
Metrics are mathematically derived from official filings.
Houston Load Growth Drives Revenue
CenterPoint's revenue grew 10.7% YoY in 2026Q2, reaching $2.2B, driven by robust Houston-area demand and rate base expansion, as reported in the latest quarterly data.
The 10.7% revenue growth in 2026Q2, following a 1.9% increase in 2026Q1, suggests an acceleration in rate base deployment and customer growth, particularly from data center interconnections. This growth appears sustainable given the 700% surge in interconnection requests, but investors should monitor whether regulatory recovery keeps pace with the elevated capital spend.
Earned ROE Trails Authorized
Operating margin held at 24.8% in 2026Q2, but net margin of 11.3% implies earned ROE likely below authorized levels, based on reported figures, indicating regulatory lag.
Despite strong revenue growth, net margin compression from 14.7% in 2025Q3 to 11.3% in 2026Q2 suggests that cost recovery is lagging, possibly due to storm-related expenses and rising interest costs. The gap between authorized and earned ROE may widen if Texas regulators become more cautious in rate cases, given recent political scrutiny.
Fuel Pass-Through Masks Margin
Gross margin of 28.71% reflects fuel and purchased power pass-throughs, which inflate revenue without affecting earnings, as per company disclosures, obscuring underlying cost recovery efficiency.
The pass-through nature of fuel costs means that revenue growth can be misleading; the 22.55% operating margin is a better indicator of cost control. With inflationary pressures on labor and materials, O&M expenses may rise faster than recovery mechanisms, potentially squeezing margins if regulators delay rate adjustments.
Weather and Storm Costs Distort EPS
EPS volatility, from $0.30 in 2025Q2 to $0.48 in 2026Q1, reflects weather-normalized adjustments and storm restoration costs, as reported in quarterly data, complicating trend analysis.
The 50% EPS growth in 2025Q3 and subsequent 16.7% decline in 2025Q2 highlight the impact of weather and non-recurring items. Investors should adjust for these factors to assess underlying earnings power, which appears stable but may be overstated by one-time gains.
CAPEX Translates to Rate Base
D&A rose from $356M in 2024Q4 to $445M in 2026Q2, indicating significant capital deployment, which should expand rate base and support future EPS growth, per financial statements.
The consistent increase in D&A aligns with the $40B+ capital plan, suggesting that investments are being placed into service. However, the lag between CAPEX and rate recovery means near-term earnings may not fully reflect the investment, and financing costs could pressure EPS until rates are updated.
Regulatory Fatigue Could Cap Returns
Despite strong Houston growth, political pressure following outages may lead to lower authorized ROEs or disallowed costs, potentially compressing earned returns, as suggested by recent events.
The market may be overestimating the durability of Texas growth if regulators respond to consumer bill concerns by tightening allowed returns. Storm hardening mandates could also increase un-recovered capital, straining the balance sheet and diluting EPS. Investors should monitor rate case outcomes and legislative changes for signs of a less constructive regulatory environment.