Consolidated Edison, Inc. (ED) 10-Year Financial Performance & Capital Metrics

ED • • Utilities

UtilitiesElectric UtilitiesMulti-Utility CompaniesDual Electric & Gas Utilities

AboutConsolidated Edison, Inc., through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.5 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,555 customers in parts of Manhattan. The company also supplies electricity to approximately 0.3 million customers in southeastern New York and northern New Jersey; and gas to approximately 0.1 million customers in southeastern New York. In addition, it operates 533 circuit miles of transmission lines; 15 transmission substations; 64 distribution substations; 87,564 in-service line transformers; 3,924 pole miles of overhead distribution lines; and 2,291 miles of underground distribution lines, as well as 4,350 miles of mains and 377,971 service lines for natural gas distribution. Further, the company owns, operates, and develops renewable and energy infrastructure projects; and provides energy-related products and services to wholesale and retail customers, as well as invests in electric and gas transmission projects. It primarily sells electricity to industrial, commercial, residential, and government customers. The company was founded in 1823 and is based in New York, New York.Show more

Revenue $15.26B +4.2%
EBITDA $4.89B +12.6%
Net Income $1.82B -27.7%
Free Cash Flow -$1.16B +50.5%
EBITDA Margin 32.03% +8.1%
Net Margin 11.93% -30.6%
ROE 8.44% -29.5%
Interest Coverage 2.30 +1.9%
Debt/Equity 1.27 +7.2%
Net Debt/EBITDA 5.42 -1.2%
CapEx / Revenue 31.27% +1.9%
CapEx Coverage 0.76 +57.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 3.1%

✗Weaknesses

✗High leverage: 5.7x Debt/EBITDA

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.7%

5Y3.98%

3Y3.72%

TTM10.35%

Profit (Net Income) CAGR

10Y5.24%

5Y6.27%

3Y10.58%

TTM10.36%

EPS CAGR

10Y3.51%

5Y5.13%

3Y10.82%

TTM7.52%

ROCE

10Y Avg5.27%

5Y Avg4.55%

3Y Avg4.29%

Latest4.41%

Peer Comparison

Dual Electric & Gas Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AQNBAlgonquin Power & Utilities Cor		25.60	170.63	-14.03%	-57.66%	-26.75%		1.09
ESEversource Energy	26.15B	69.69	30.70	-0.08%	10.22%	8.3%		1.92
PPLPPL Corporation	26.42B	35.71	29.76	1.8%	12.16%	7.58%		1.19
LNTAlliant Energy Corporation	17.24B	67.06	24.93	-1.14%	19.13%	11.19%		1.49
DDominion Energy, Inc.	51.53B	60.34	24.73	0.46%	14.77%	7.36%		1.38
PEGPublic Service Enterprise Group Incorporated	39.64B	79.41	22.43	-8.43%	17.77%	12.24%		1.42
WECWEC Energy Group, Inc.	35.18B	108.16	22.39	-3.3%	17.76%	12.1%	1.22%	1.59
XELXcel Energy Inc.	44.58B	75.36	21.91	-5.38%	11.01%	9.04%		1.55

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	12.52B	12.07B	12.03B	12.33B	12.55B	12.24B	13.67B	15.66B	14.65B	15.26B
Revenue Growth %	-0.03%	-0.04%	-0%	0.03%	0.02%	-0.02%	0.12%	0.15%	-0.07%	0.04%
Cost of Revenue	7.95B	7.33B	3.94B	4.36B	4.29B	4.17B	4.78B	6.11B	5.69B	5.49B
Gross Profit+	4.57B	4.73B	8.08B	7.97B	8.26B	8.06B	8.89B	9.55B	8.96B	9.76B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.17%	0.03%	0.71%	-0.01%	0.04%	-0.02%	0.1%	0.07%	-0.06%	0.09%
Operating Expenses+	1.96B	2.06B	5.32B	5.44B	5.61B	5.41B	6.09B	6.94B	6.65B	7.03B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	3.74B	3.89B	4.11B	3.97B	4.34B	4.57B	4.83B	4.67B	4.34B	4.89B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.21%	0.04%	0.05%	-0.03%	0.09%	0.05%	0.06%	-0.03%	-0.07%	0.13%
Depreciation & Amortization+	1.13B	1.22B	1.34B	1.44B	1.68B	1.92B	2.03B	2.06B	2.03B	2.15B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	2.61B	2.68B	2.77B	2.53B	2.65B	2.65B	2.8B	2.62B	2.31B	2.73B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.29%	0.02%	0.03%	-0.08%	0.05%	0%	0.06%	-0.07%	-0.12%	0.18%
Interest Expense+	653M	696M	729M	819M	955M	1.02B	919M	951M	1.02B	1.19B
Interest Coverage	4.00x	3.84x	3.79x	3.09x	2.78x	2.60x	3.05x	2.75x	2.26x	2.30x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	-1000K
Pretax Income+	1.8B	1.94B	2B	1.78B	1.74B	1.23B	1.38B	2.1B	3B	2.14B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	605M	698M	472M	401M	296M	90M	190M	498M	487M	318M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.19B	1.25B	1.52B	1.38B	1.34B	1.1B	1.35B	1.66B	2.52B	1.82B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.09%	0.04%	0.22%	-0.09%	-0.03%	-0.18%	0.22%	0.23%	0.52%	-0.28%
EPS (Diluted)+	4.05	4.12	4.94	4.42	4.08	3.28	3.85	4.67	7.21	5.24
EPS Growth %	0.09%	0.02%	0.2%	-0.11%	-0.08%	-0.2%	0.17%	0.21%	0.54%	-0.27%
EPS (Basic)	4.07	4.15	4.97	4.43	4.09	3.29	3.86	4.68	7.24	5.26
Diluted Shares Outstanding	294.4M	301.9M	308.8M	312.9M	329.5M	335.7M	349.4M	355.8M	349.3M	347.3M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	45.64B	48.26B	48.11B	53.92B	58.08B	62.9B	63.12B	69.06B	66.33B	70.56B
Asset Growth %	0.04%	0.06%	-0%	0.12%	0.08%	0.08%	0%	0.09%	-0.04%	0.06%
PP&E (Net)+	32.21B	35.22B	37.6B	41.75B	44.75B	47.39B	49.41B	47.33B	50.14B	52.66B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	3.84B	3.41B	3.54B	3.86B	4.27B	5.3B	5.55B	12.97B	6.54B	6.66B
Cash & Equivalents	944M	776M	797M	895M	981M	1.27B	992M	1.28B	1.19B	1.32B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	350M	339M	334M	358M	352M	356M	437M	492M	469M	485M
Other Current Assets	480M	305M	527M	309M	564M	661M	721M	7.7B	621M	483M
Long-Term Investments	884M	1.92B	2B	1.77B	2.06B	1.82B	853M	841M	999M	1.13B
Goodwill	429M	428M	428M	440M	446M	446M	439M	408M	408M	408M
Intangible Assets	2M	124M	131M	1.65B	1.56B	1.46B	1.29B	0	0	0
Other Assets	8.28B	7.16B	4.41B	4.45B	4.99B	6.48B	5.58B	7.51B	8.25B	9.71B
Total Liabilities	32.58B	33.95B	32.69B	37.08B	39.87B	43.83B	42.78B	48.18B	45.17B	48.6B
Total Debt+	14.27B	15.83B	16.61B	20.71B	22.54B	25.08B	25.36B	24.41B	25.01B	27.82B
Net Debt	13.33B	15.05B	15.81B	19.82B	21.56B	23.81B	24.37B	23.13B	23.82B	26.5B
Long-Term Debt	12.01B	14.73B	14.73B	17.5B	18.53B	20.38B	22.6B	20.15B	21.93B	24.65B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	874M	860M	830M	579M	545M	504M
Total Current Liabilities+	4.72B	3.84B	4.9B	6.21B	6.29B	7.35B	5.43B	11.34B	6.46B	6.43B
Accounts Payable	1.01B	1.15B	1.29B	1.19B	1.16B	1.48B	1.5B	1.96B	1.77B	1.68B
Accrued Expenses	233M	251M	248M	238M	255M	257M	264M	269M	295M	326M
Deferred Revenue	354M	352M	346M	351M	346M	311M	300M	358M	396M	412M
Other Current Liabilities	795M	936M	1.04B	1.15B	1.24B	1.23B	1.22B	4.86B	1.27B	1.16B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	6.32B	5.17B	7.56B	7.56B	8.02B	8.86B	7.16B	8.58B	8.29B	8.26B
Total Equity+	13.06B	14.31B	15.43B	16.84B	18.21B	19.07B	20.34B	20.89B	21.16B	21.96B
Equity Growth %	0.04%	0.1%	0.08%	0.09%	0.08%	0.05%	0.07%	0.03%	0.01%	0.04%
Shareholders Equity	13.05B	14.3B	15.42B	16.73B	18.02B	18.85B	20.04B	20.69B	21.16B	21.96B
Minority Interest	9M	8M	7M	113M	191M	218M	299M	202M	0	0
Common Stock	32M	33M	34M	34M	35M	36M	37M	37M	37M	37M
Additional Paid-in Capital	5.03B	5.85B	6.3B	7.12B	8.05B	8.81B	9.71B	9.8B	9.86B	9.99B
Retained Earnings	9.12B	9.56B	10.23B	10.73B	11.1B	11.18B	11.45B	11.98B	13.38B	14.05B
Accumulated OCI	-34M	-27M	-26M	-16M	-19M	-25M	5M	22M	22M	29M
Return on Assets (ROA)	0.03%	0.03%	0.03%	0.03%	0.02%	0.02%	0.02%	0.03%	0.04%	0.03%
Return on Equity (ROE)	0.09%	0.09%	0.1%	0.09%	0.08%	0.06%	0.07%	0.08%	0.12%	0.08%
Debt / Equity	1.09x	1.11x	1.08x	1.23x	1.24x	1.32x	1.25x	1.17x	1.18x	1.27x
Debt / Assets	0.31%	0.33%	0.35%	0.38%	0.39%	0.4%	0.4%	0.35%	0.38%	0.39%
Net Debt / EBITDA	3.56x	3.87x	3.85x	4.99x	4.97x	5.21x	5.04x	4.95x	5.49x	5.42x
Book Value per Share	44.36	47.39	49.95	53.82	55.27	56.79	58.2	58.71	60.57	63.24

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.28B	3.46B	3.37B	2.69B	3.13B	2.2B	2.73B	3.94B	2.16B	3.61B
Operating CF Growth %	0.16%	0.06%	-0.03%	-0.2%	0.16%	-0.3%	0.24%	0.44%	-0.45%	0.68%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	1.19B	1.25B	1.52B	1.38B	1.44B	1.14B	1.19B	1.6B	2.52B	1.82B
Depreciation & Amortization	1.13B	1.22B	1.34B	1.44B	1.68B	1.92B	2.03B	2.06B	2.03B	2.15B
Deferred Taxes	653M	783M	485M	408M	308M	85M	133M	435M	132M	416M
Other Non-Cash Items	-680M	-581M	-621M	-510M	-455M	-93M	37M	-47M	-868M	144M
Working Capital Changes	981M	796M	637M	-23M	157M	-858M	-662M	-109M	-1.66B	-921M
Capital Expenditures+	-3.05B	-3.68B	-3.44B	-5.47B	-3.49B	-3.91B	-3.95B	-4.17B	-4.49B	-4.77B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-3.66B	-4.98B	-3.71B	-5.47B	-3.78B	-4.22B	-3.48B	-4.57B	-1B	-5.27B
Acquisitions	-299M	-1.47B	-90M	-1.75B	-215M	-27M	812M	0	3.93B	0
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale of Investments	0	0	0	0	0	0	0	0	0	0
Other Investing	-304M	199M	-177M	-219M	-81M	-288M	-343M	-397M	-436M	-502M
Cash from Financing+	629M	1.34B	357M	2.94B	859M	2.25B	461M	1.01B	-1.49B	1.8B
Dividends Paid	-733M	-763M	-803M	-842M	-924M	-975M	-1.03B	-1.09B	-1.1B	-1.1B
Dividend Payout Ratio %	0.61%	0.61%	0.53%	0.61%	0.69%	0.89%	0.77%	0.66%	0.44%	0.6%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Stock Issued	0	702M	343M	705M	825M	640M	775M	0	0	60M
Share Repurchases	0	0	0	0	0	0	0	0	-1B	0
Other Financing	-14M	26M	31M	-6M	10M	-5M	254M	7M	20M	-43M
Net Change in Cash+	249M	-172M	21M	162M	211M	219M	-290M	384M	-335M	138M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	699M	944M	776M	844M	1.01B	1.22B	1.44B	1.15B	1.53B	1.2B
Cash at End	948M	772M	797M	1.01B	1.22B	1.44B	1.15B	1.53B	1.2B	1.33B
Free Cash Flow+	223M	-221M	-76M	-2.78B	-352M	-1.71B	-1.22B	-233M	-2.34B	-1.16B
FCF Growth %	-0.46%	-1.99%	0.66%	-35.53%	0.87%	-3.86%	0.29%	0.81%	-9.03%	0.51%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.3%	9.1%	10.26%	8.57%	7.66%	5.91%	6.83%	8.05%	11.98%	8.44%
EBITDA Margin	29.89%	32.26%	34.14%	32.2%	34.55%	37.36%	35.34%	29.82%	29.64%	32.03%
Net Debt / EBITDA	3.56x	3.87x	3.85x	4.99x	4.97x	5.21x	5.04x	4.95x	5.49x	5.42x
Interest Coverage	4.00x	3.84x	3.79x	3.09x	2.78x	2.60x	3.05x	2.75x	2.26x	2.30x
CapEx / Revenue	24.39%	30.5%	28.62%	44.36%	27.78%	31.94%	28.91%	26.61%	30.68%	31.27%
Dividend Payout Ratio	61.44%	61.29%	52.66%	60.93%	68.8%	88.56%	76.52%	65.6%	43.51%	60.44%
Debt / Equity	1.09x	1.11x	1.08x	1.23x	1.24x	1.32x	1.25x	1.17x	1.18x	1.27x
EPS Growth	9.16%	1.73%	19.9%	-10.53%	-7.69%	-19.61%	17.38%	21.3%	54.39%	-27.32%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Electricity	9.11B	8.83B	8.74B	8.61B	8.61B	8.69B	8.73B	9.48B	10.52B	10.84B
Electricity Growth	-	-3.09%	-1.03%	-1.48%	0.00%	0.95%	0.41%	8.65%	10.93%	2.97%
Oil and Gas, Purchased	1.93B	1.71B	1.69B	2.13B	2.33B	2.39B	2.27B	2.64B	3.24B	3.13B
Oil and Gas, Purchased Growth	-	-11.59%	-0.99%	26.06%	9.10%	2.75%	-5.10%	16.26%	22.71%	-3.40%
Steam	628M	629M	551M	595M	631M	627M	508M	532M	593M	569M
Steam Growth	-	0.16%	-12.40%	7.99%	6.05%	-0.63%	-18.98%	4.72%	11.47%	-4.05%
Non-Utility Products And Services	1.24B	1.38B	1.09B	767M	767M	862M	739M	1.02B	1.32B	-
Non-Utility Products And Services Growth	-	11.25%	-21.17%	-29.70%	0.00%	12.39%	-14.27%	38.16%	29.09%	-

Frequently Asked Questions

Valuation & Price

Consolidated Edison, Inc. (ED) has a price-to-earnings (P/E) ratio of 19.6x. This is roughly in line with market averages.

Growth & Financials

Consolidated Edison, Inc. (ED) reported $16.59B in revenue for fiscal year 2024. This represents a 28% increase from $12.97B in 2011.

Consolidated Edison, Inc. (ED) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, Consolidated Edison, Inc. (ED) is profitable, generating $2.04B in net income for fiscal year 2024 (11.9% net margin).

Dividend & Returns

Yes, Consolidated Edison, Inc. (ED) pays a dividend with a yield of 3.09%. This makes it attractive for income-focused investors.

Consolidated Edison, Inc. (ED) has a return on equity (ROE) of 8.4%. This is below average, suggesting room for improvement.

Consolidated Edison, Inc. (ED) generated $3.39B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Consolidated Edison, Inc. (ED) has a dividend payout ratio of 60%. This suggests the dividend is well-covered and sustainable.

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