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EDConsolidated Edison, Inc.
$103.84$38.3B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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ED logo

Consolidated Edison, Inc.

ED
NYSE · Electric Utilities
$103.84
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$38.27B
P/E18.4x
52W High$116.23
Volume1.46M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Rate Base Growth Drives Earnings, Regulatory Lag Looms

Consolidated Edison's investment thesis centers on robust rate base expansion, with net PPE growing 12.6% year-over-year to $57.6B in Q2 2026, fueling revenue growth of 13.2% and EPS growth of 22.1%. The company benefits from regulated recovery mechanisms and ...

GrowthAccelerating
ProfitabilityStable
ValuationReview
TechnicalsWeak
Explore valuation models
MARKET ACTION

ED price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

-11% Peers

P/E is 11% below peer median

03

Market leadership

RS 46 · Lag

Laggard (Underperforming 54% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 5
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue grew 13.2% year-over-year to $4.1B in Q2 2026, with operating margin stable at 13.6%, reflecting rate base expansion and pass-through cost recovery, though EPS growth of 22.1% is partly weather-driven.

Analyst Consensus+0.9% target
Hold(27 analysts)
3 Buy17 Hold7 Sell

The Bull Case

Upside Catalysts

Strong Earnings

Recent earnings reports show EPS exceeding expectations, indicating robust financial performance for Consolidated Edison. This trend suggests a solid foundation for continued growth in the company's earnings.

Capital Plan Execution

Bulls are pricing in the full execution of a significant capital plan for 2028-2030, which is expected to drive earnings growth. The approved rate case for its New York utility operations locks in cost recovery through 2028, supporting expanding EBITDA margins.

Dividend Stability

Consolidated Edison has a history of consistent dividend increases, with a current yield around 3.2%. The dividend payout ratio is considered sustainable, providing a reliable income stream for investors.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
ED+6.51%
S&P 500 (^GSPC)+13.20%
1-Year Return
ED+11.11%
S&P 500 (^GSPC)+15.98%
3-Year Return
ED+25.55%
S&P 500 (^GSPC)+79.71%
5-Year Return
ED+64.37%
S&P 500 (^GSPC)+76.12%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
18.4x
Forward P/EExpansion
17.0x
EV/EBITDA80th %ile
12.5x
FCF YieldCash Flow
0.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
18.4x
17.6x
60th· Fair
EV/EBITDA
12.5x
11.9x
80th· High
Price/FCF
1063.0x
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$142.02+36.8%
Base (Fair)$135.47+28.5%
Bull$131.67+26.8%
$142.02 Bear$135.47 Base$131.67 Bull
Current Market Price: $103.84
Trades at a 23.3% discount to Base DCF ($135.47)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$16.92B+10.9% YoY
Net income
$2.02B+11.2% YoY
Free cash flow
$36M+103.1% YoY
Operating margin
17.3%-0.6 pts YoY
ROIC (TTM)4.4%
Avg ROIC 5Y-
ROE (TTM)8.8%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate7/12 (58%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$0.83+9.8%
vs $0.76
$4.1B+13.1%
vs $3.6B
Q2 2026
May 7, 2026
$2.17-4.8%
vs $2.28
$5.1B-2.4%
vs $5.2B
Q1 2026
Feb 19, 2026
$0.89+4.0%
vs $0.86
$4.0B+10.6%
vs $3.6B
Q4 2025
Nov 6, 2025
$1.90+9.2%
vs $1.74
$4.5B+7.4%
vs $4.2B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·5d ago
The Dividend Kings Ranked By Quality Scores (September 2026)

Dividend Kings have a 50+ year track record of increasing dividends, showcasing resilience through economic challenges. I rank the Dividend Kings using my 9F Quality Scores, blending qualitative and quantitative factors for a robust, investment-grade assessment. ADP stands out as the best total-return candidate. It is undervalued, high-quality, and offering a strong projected dividend growth rate and Adjusted Chowder Number.

Defense World·6d ago
Engineers Gate Manager LP Cuts Stock Holdings in Consolidated Edison Inc $ED

Engineers Gate Manager LP reduced its stake in Consolidated Edison Inc (NYSE: ED) by 79.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,358 shares of the utilities provider's stock after selling 52,580 shares during the period. Engineers Gate Manager LP's

PRNewsWire·Sep 16, 2026
CON EDISON TO WEBCAST INVESTOR PRESENTATION ON OCTOBER 6, 2026

NEW YORK , Sept. 16, 2026 /PRNewswire/ -- Consolidated Edison, Inc. (NYSE: ED) will webcast an investor presentation from 8:30 a.m.

PRNewsWire·Sep 16, 2026
American Savings Bank Raises $129 Million in IPO: NYSE Content Update

/PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market

Filtered for Consolidated Edison, Inc.More Headlines
04

Compare before deciding

Benchmark ED against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Consolidated Edison, Inc. (ED)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ED logoEDConsolidated Edison, Inc.Current
$103.84$38.27B18.4110.89%11.96%8.77%3.13%
SO logoSOThe Southern Company
$85.15$95.99B21.7210.59%15.43%11.69%—
DUK logoDUKDuke Energy Corporation
$116.31$90.67B18.436.19%15.72%9.58%—
EXC logoEXCExelon Corporation
$41.80$42.77B15.265.34%10.99%9.61%—
PPL logoPPLPPL Corporation
$32.88$24.74B20.686.85%13.47%8.53%—
ES logoESEversource Energy
$66.38$24.96B14.5613.83%10.35%8.82%—

Compare ED vs Peers

Consolidated Edison, Inc. (ED) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SO

Most directly comparable listed peer for ED.

Scale Benchmark

vs GE

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

Peer Set

Compare Top 5

vs SO, DUK, EXC, PPL

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

ED SEC Filings & Documents

Consolidated Edison, Inc. (ED) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jul 2, 2026·SEC

Material company update

Jun 3, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 19, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 15, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

Get notified when ED posts new earnings or crosses analyst targets

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ED Frequently Asked Questions

Consolidated Edison, Inc. (ED) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Consolidated Edison, Inc.'s revenue?

Consolidated Edison, Inc. (ED) reported $17.69B in revenue for fiscal year 2025. This represents a 154% increase from $6.96B in 1996.

How fast is Consolidated Edison, Inc. growing?

Consolidated Edison, Inc. (ED) grew revenue by 10.9% over the past year. This is steady growth.

Is ED profitable?

Yes, Consolidated Edison, Inc. (ED) is profitable, generating $2.22B in net income for fiscal year 2025 (12.0% net margin).

Dividend & Returns
Does ED pay dividends?

Yes, Consolidated Edison, Inc. (ED) pays a dividend with a yield of 3.13%. This makes it attractive for income-focused investors.

What is ED's return on equity?

Consolidated Edison, Inc. (ED) has a return on equity (ROE) of 8.8%. This is below average, suggesting room for improvement.

What is Consolidated Edison, Inc.'s free cash flow?

Consolidated Edison, Inc. (ED) generated $5.07B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics
Is ED's dividend sustainable?

Consolidated Edison, Inc. (ED) has a dividend payout ratio of 58%. This suggests the dividend is well-covered and sustainable.

What if you invested $1,000 in ED back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →