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EVRGEvergy, Inc.
$79.27$18.3B
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
Discovery & Screens
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EVRG logo

Evergy, Inc.

EVRG
NASDAQ · Electric Utilities
$79.27
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$18.27B
P/E21.7x
52W High$88.62
Volume1.8M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Rate Base Growth Offsets Regulatory Disallowance Risk

Evergy's accelerating rate base expansion, evidenced by 10.1% YoY growth in net PPE to $27.4B in 2026Q2, is driving revenue growth of 5.1% and EPS growth of 23.0%, but the company faces rising leverage (D/E of 1.61) and regulatory disallowance risk from the KC...

GrowthAccelerating
ProfitabilityStable
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

EVRG 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

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

+11% Peers

P/E is 11% above peer median

03

Market leadership

RS 48 · Lag

Laggard (Underperforming 52% 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 5.1% YoY to $1.5B in 2026Q2, with operating margin expanding to 25.4% and EPS up 23.0% to $0.91, though earned ROE trails authorized levels due to regulatory lag.

Analyst Consensus+16.4% target
Hold(18 analysts)
7 Buy9 Hold2 Sell

The Bull Case

Upside Catalysts

Economic Development and Demand Growth

Evergy is experiencing strong demand growth driven by economic development in its service territories, particularly from large-load customers like data centers. This trend is expected to continue, with projections for significant data center load by 2029.

Capital Investment and Growth

The company has outlined a substantial capital investment plan, with figures around $17.5 billion for 2025-2029 and $21.6 billion for 2026-2030. This investment is targeted at infrastructure, new generation assets, and grid modernization, supporting a long-term adjusted earnings per share (EPS) growth target of 6% to 8%+ through 2030.

Supportive Regulatory Environment

Recent legislation in Missouri and Kansas has improved the regulatory framework, which is expected to reduce regulatory lag and boost earnings growth. This supportive regulation is seen as a key factor in Evergy's ability to execute its growth plan and receive constructive regulatory treatment.

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
EVRG+11.32%
S&P 500 (^GSPC)+13.20%
1-Year Return
EVRG+13.61%
S&P 500 (^GSPC)+15.98%
3-Year Return
EVRG+62.82%
S&P 500 (^GSPC)+80.51%
5-Year Return
EVRG+46.47%
S&P 500 (^GSPC)+79.45%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
21.7x
Forward P/EExpansion
18.6x
EV/EBITDA100th %ile
12.4x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
21.7x
17.9x
100th· High
EV/EBITDA
12.4x
11.6x
100th· High
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$113.96+43.8%
Base (Fair)$117.54+47.3%
Bull$130.41+64.5%
$113.96 Bear$117.54 Base$130.41 Bull
Current Market Price: $79.27
Trades at a 32.6% discount to Base DCF ($117.54)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$5.92B+1.7% YoY
Net income
$856M-2.0% YoY
Free cash flow
-$752M-113.0% YoY
Operating margin
25.2%+0.4 pts YoY
ROIC (TTM)4.5%
Avg ROIC 5Y-
ROE (TTM)8.4%
Piotroski Score4 / 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 Rate6/12 (50%)
Revenue Beat Rate5/12 (42%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$0.88+8.5%
vs $0.81
$1.5B+10.0%
vs $1.4B
Q2 2026
May 7, 2026
$0.69+13.9%
vs $0.61
$1.4B+13.6%
vs $1.3B
Q1 2026
Feb 19, 2026
$0.42-23.8%
vs $0.55
$1.3B-6.1%
vs $1.4B
Q4 2025
Nov 6, 2025
$2.03-2.4%
vs $2.08
$1.8B-30.0%
vs $2.6B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·5d ago
Evergy: Plug Your Portfolio Into Reliable Dividend Growth

Evergy, Inc. is maintained at a Buy rating, trading at a 3% discount to fair value, with double-digit annual total return potential. EVRG's robust pipeline of data center-driven ESAs and regulatory mechanisms supports high single-digit adjusted EPS growth through 2030 and beyond. The utility's BBB+ credit rating, stable FFO-to-debt ratio, and sustainable mid-60% payout ratio underpin dividend safety and future capital investment.

247 Wallst·Sep 10, 2026
We Named 3 Dividend Stocks to Dominate 2026. Only One Beat the S&P 500.

We picked three dividend stocks to beat the market in 2026, and the results split in ways that reveal something uncomfortable about how income investors actually grade their own calls.

Defense World·Sep 7, 2026
Greenland Capital Management LP Raises Position in Evergy Inc. $EVRG

Greenland Capital Management LP increased its stake in Evergy Inc. (NASDAQ: EVRG) by 469.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,220 shares of the company's stock after buying an additional 78,500 shares during the quarter. Evergy comprises 1.0% of

Defense World·Sep 4, 2026
Jupiter Topco LLC Takes $1.71 Million Position in Evergy Inc. $EVRG

Jupiter Topco LLC purchased a new position in shares of Evergy Inc. (NASDAQ: EVRG) during the undefined quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 19,832 shares of the company's stock, valued at approximately $1,714,000. Other hedge funds have also recently added to or

Filtered for Evergy, Inc.More Headlines
04

Compare before deciding

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

Peers Comparison

Key metrics vs top competitors for Evergy, Inc. (EVRG)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
EVRG logoEVRGEvergy, Inc.Current
$79.27$18.27B21.661.65%14.45%8.45%3.31%
WEC logoWECWEC Energy Group, Inc.
$102.83$33.49B21.2913.96%16.69%11.84%—
OGE logoOGEOGE Energy Corp.
$45.11$9.32B19.449.21%14.55%9.56%—
OTTR logoOTTROtter Tail Corporation
$90.23$3.79B13.78-1.99%14.83%10.43%—
NWE logoNWENorthwestern Energy Group Inc
$69.87$4.3B23.776.38%10.13%5.92%—
AVA logoAVAAvista Corporation
$36.00$2.97B15.131.34%11.83%8.29%—

Compare EVRG vs Peers

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

Closest Rival

vs WEC

Most directly comparable listed peer for EVRG.

Scale Benchmark

vs GE

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

Peer Set

Compare Top 5

vs WEC, OGE, OTTR, NWE

05

Keep researching

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

EVRG SEC Filings & Documents

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

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jul 1, 2026·SEC

Material company update

Jul 1, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 19, 2026·SEC

FY 2025

Feb 27, 2025·SEC

FY 2024

Feb 29, 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

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EVRG Frequently Asked Questions

Evergy, Inc. (EVRG) stock FAQ — growth, dividends, profitability & financials explained

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

Evergy, Inc. (EVRG) reported $6.07B in revenue for fiscal year 2025. This represents a 196% increase from $2.05B in 1996.

How fast is Evergy, Inc. growing?

Evergy, Inc. (EVRG) grew revenue by 1.7% over the past year. Growth has been modest.

Is EVRG profitable?

Yes, Evergy, Inc. (EVRG) is profitable, generating $925.8M in net income for fiscal year 2025 (14.5% net margin).

Dividend & Returns
Does EVRG pay dividends?

Yes, Evergy, Inc. (EVRG) pays a dividend with a yield of 3.31%. This makes it attractive for income-focused investors.

What is EVRG's return on equity?

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

What is Evergy, Inc.'s free cash flow?

Evergy, Inc. (EVRG) had negative free cash flow of $1.41B in fiscal year 2025, likely due to heavy capital investments.

Industry Metrics
Is EVRG's dividend sustainable?

Evergy, Inc. (EVRG) has a dividend payout ratio of 72%. The dividend is reasonably covered.

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

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

See returns →