FirstEnergy Corp. (FE) 10-Year Financial Performance & Capital Metrics

FE • • Utilities

UtilitiesElectric UtilitiesIntegrated Electric UtilitiesMajor Multi-State Integrated Utilities

AboutFirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities. It operates 24,074 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 273,295 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits. The company serves approximately 6 million customers in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. FirstEnergy Corp. was incorporated in 1996 and is headquartered in Akron, Ohio.Show more

Revenue $13.47B +4.7%
EBITDA $3.96B +6.3%
Net Income $978M -11.3%
Free Cash Flow -$1.14B +42.2%
EBITDA Margin 29.42% +1.6%
Net Margin 7.26% -15.2%
ROE 7.94% -22.3%
Interest Coverage 2.35 +6.5%
Debt/Equity 1.77 -22.5%
Net Debt/EBITDA 6.10 -8.3%
CapEx / Revenue 29.91% +14.7%
CapEx Coverage 0.72 +73.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 3.6%
✓Trading near 52-week high

✗Weaknesses

✗High leverage: 6.1x Debt/EBITDA

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-1.1%

5Y4.07%

3Y6.57%

TTM7.64%

Profit (Net Income) CAGR

10Y12.58%

5Y1.41%

3Y-8.65%

TTM49.1%

EPS CAGR

10Y9.12%

5Y0.24%

3Y-10.23%

TTM47.2%

ROCE

10Y Avg5.52%

5Y Avg5.01%

3Y Avg5.05%

Latest5.25%

Peer Comparison

Major Multi-State Integrated Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ETREntergy Corporation	42.5B	95.17	38.84	-2.2%	14.28%	10.71%		1.90
FEFirstEnergy Corp.	26.66B	46.15	27.15	4.68%	9.19%	9.38%		1.77
SOThe Southern Company	97.36B	88.42	22.16	5.83%	15.42%	11.65%	0.86%	1.81
AEPAmerican Electric Power Company, Inc.	63.08B	118.11	21.17	2.76%	17.08%	11.63%		1.70
DUKDuke Energy Corporation	92.29B	118.68	20.78	4.46%	15.71%	9.49%	0.05%	1.66
EXCExelon Corporation	43.96B	43.60	17.80	5.99%	11.6%	10.03%		1.73
SOJCThe Southern Company JR 2017B NT 77	22.17B	22.18	5.56	5.83%	15.42%	11.65%	0.91%	1.81
SOJDSouthern Company (The) Series 2	2.07K	20.74	5.20	5.83%	15.42%	11.65%	100%	1.81

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	15.03B	14.56B	14.02B	11.26B	11.04B	10.79B	11.13B	12.46B	12.87B	13.47B
Revenue Growth %	-0%	-0.03%	-0.04%	-0.2%	-0.02%	-0.02%	0.03%	0.12%	0.03%	0.05%
Cost of Revenue	6.28B	3.88B	3.42B	3.65B	3.42B	3.07B	3.44B	4.59B	4.65B	4.38B
Gross Profit+	8.75B	6.82B	7.5B	7.61B	7.61B	7.72B	7.69B	7.87B	8.22B	9.1B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.09%	-0.22%	0.1%	0.01%	-0%	0.01%	-0%	0.02%	0.05%	0.11%
Operating Expenses+	6.46B	4.76B	5.08B	5.11B	5.1B	5.56B	5.96B	5.96B	5.96B	6.72B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	4.12B	4.03B	4.13B	3.89B	3.73B	3.39B	3.39B	3.29B	3.73B	3.96B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.55%	-0.02%	0.02%	-0.06%	-0.04%	-0.09%	0%	-0.03%	0.13%	0.06%
Depreciation & Amortization+	1.83B	1.97B	1.7B	1.38B	1.22B	1.23B	1.66B	1.38B	1.46B	1.59B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	2.29B	2.05B	2.43B	2.5B	2.51B	2.16B	1.73B	1.91B	2.27B	2.38B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	1.16%	-0.1%	0.18%	0.03%	0%	-0.14%	-0.2%	0.11%	0.19%	0.05%
Interest Expense+	1.01B	918M	953M	1.05B	962M	988M	1.06B	955M	1.03B	1.01B
Interest Coverage	2.26x	2.24x	2.55x	2.38x	2.61x	2.19x	1.62x	2.00x	2.21x	2.35x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	893M	-9.23B	1.43B	1.51B	1.12B	1.13B	1.56B	1.44B	1.46B	1.5B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	315M	-3.06B	1.72B	490M	213M	126M	320M	1B	267M	377M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	578M	-6.18B	-1.72B	1.35B	912M	1.08B	1.28B	406M	1.1B	978M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.93%	-11.69%	0.72%	1.78%	-0.32%	0.18%	0.19%	-0.68%	1.71%	-0.11%
EPS (Diluted)+	1.37	-14.49	-3.88	1.99	1.68	1.99	2.35	0.71	1.92	1.70
EPS Growth %	0.93%	-11.58%	0.73%	1.51%	-0.16%	0.18%	0.18%	-0.7%	1.7%	-0.11%
EPS (Basic)	1.37	-14.49	-3.88	1.99	1.70	1.99	2.35	0.71	1.92	1.70
Diluted Shares Outstanding	424M	426M	444M	494M	542M	543M	546M	572M	574M	577M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	52.19B	43.15B	42.26B	40.06B	42.3B	44.46B	45.43B	46.11B	48.77B	52.04B
Asset Growth %	0%	-0.17%	-0.02%	-0.05%	0.06%	0.05%	0.02%	0.01%	0.06%	0.07%
PP&E (Net)+	37.21B	29.39B	28.88B	29.91B	31.65B	33.29B	34.74B	36.28B	38.41B	41.1B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	3.04B	2.95B	3.11B	2.37B	2.44B	3.71B	3.24B	2.42B	2.57B	2.78B
Cash & Equivalents	131M	199M	589M	367M	627M	1.73B	1.46B	160M	137M	111M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	785M	564M	463M	252M	281M	317M	260M	421M	512M	549M
Other Current Assets	394M	316M	853M	87M	85M	67M	49M	46M	335M	283M
Long-Term Investments	2.79B	3.03B	3.18B	1.3B	569M	605M	655M	622M	663M	652M
Goodwill	6.42B	5.62B	5.62B	5.62B	5.62B	5.62B	5.62B	5.62B	5.62B	5.62B
Intangible Assets	331M	0	0	0	80M	73M	0	0	0	0
Other Assets	2.63B	2.17B	4.1B	843M	2.02B	1.23B	1.18B	1.17B	1.51B	1.9B
Total Liabilities	39.77B	36.91B	38.33B	33.25B	35.33B	37.23B	36.76B	35.47B	37.85B	38.32B
Total Debt+	21.97B	22.55B	19.55B	19.5B	21B	24.48B	23.85B	21.66B	24.91B	24.27B
Net Debt	21.84B	22.35B	18.96B	19.14B	20.37B	22.74B	22.39B	21.5B	24.77B	24.16B
Long-Term Debt	19.1B	18.19B	18.69B	17.75B	19.62B	22.13B	22.25B	21.2B	22.89B	22.5B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	100M	75M	0	55M	286M	14M	13M	6M	190M	255M
Total Current Liabilities+	5.6B	7.13B	4.08B	4.63B	4.86B	5B	4.42B	3.96B	5.39B	5B
Accounts Payable	1.07B	1.04B	827M	965M	1B	827M	943M	1.5B	1.36B	1.57B
Accrued Expenses	0	0	0	243M	249M	282M	283M	254M	292M	269M
Deferred Revenue	0	0	0	0	0	0	0	223M	227M	233M
Other Current Liabilities	1.13B	1.14B	1.9B	1.14B	1.68B	697M	715M	630M	545M	367M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	7.21B	6.91B	12.23B	8.27B	7.95B	6.97B	6.66B	6.1B	5.05B	5.03B
Total Equity+	12.42B	6.24B	3.92B	6.81B	6.97B	7.24B	8.68B	10.64B	10.92B	13.72B
Equity Growth %	0%	-0.5%	-0.37%	0.74%	0.02%	0.04%	0.2%	0.23%	0.03%	0.26%
Shareholders Equity	12.42B	6.24B	3.92B	6.81B	6.97B	7.24B	8.68B	10.17B	10.44B	12.46B
Minority Interest	1M	0	0	0	0	0	0	477M	479M	1.26B
Common Stock	42M	44M	44M	51M	54M	54M	57M	57M	57M	58M
Additional Paid-in Capital	9.95B	10.55B	10B	11.53B	10.87B	10.08B	10.24B	11.32B	10.49B	12.37B
Retained Earnings	2.26B	-4.53B	-6.26B	-4.88B	-3.97B	-2.89B	-1.6B	-1.2B	-97M	43M
Accumulated OCI	171M	174M	142M	41M	20M	-5M	-15M	-14M	-17M	-14M
Return on Assets (ROA)	0.01%	-0.13%	-0.04%	0.03%	0.02%	0.02%	0.03%	0.01%	0.02%	0.02%
Return on Equity (ROE)	0.05%	-0.66%	-0.34%	0.25%	0.13%	0.15%	0.16%	0.04%	0.1%	0.08%
Debt / Equity	1.77x	3.61x	4.98x	2.86x	3.01x	3.38x	2.75x	2.04x	2.28x	1.77x
Debt / Assets	0.42%	0.52%	0.46%	0.49%	0.5%	0.55%	0.53%	0.47%	0.51%	0.47%
Net Debt / EBITDA	5.30x	5.55x	4.59x	4.92x	5.47x	6.71x	6.61x	6.54x	6.65x	6.10x
Book Value per Share	29.3	14.65	8.84	13.79	12.87	13.33	15.89	18.61	19.02	23.78

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+	3.45B	3.37B	3.81B	1.41B	2.47B	1.42B	2.81B	2.68B	1.39B	2.89B
Operating CF Growth %	0.27%	-0.02%	0.13%	-0.63%	0.75%	-0.42%	0.98%	-0.05%	-0.48%	1.08%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	578M	-6.18B	-1.72B	1.35B	912M	1.08B	1.28B	439M	1.18B	1.13B
Depreciation & Amortization	1.83B	1.97B	1.7B	1.38B	1.22B	1.2B	1.66B	1.32B	1.28B	1.59B
Deferred Taxes	284M	-3.06B	839M	485M	252M	113M	297M	989M	252M	316M
Other Non-Cash Items	613M	10.6B	2.95B	-1.52B	-36M	-936M	-771M	-266M	-926M	255M
Working Capital Changes	159M	50M	41M	-285M	122M	-32M	338M	204M	-395M	-395M
Capital Expenditures+	-2.89B	-3.07B	-2.84B	-2.67B	-2.67B	-2.66B	-2.44B	-2.76B	-3.36B	-4.03B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-3.12B	-3.28B	-2.72B	-3.02B	-2.87B	-2.91B	-2.56B	-3.08B	-3.65B	-4.35B
Acquisitions	20M	15M	388M	425M	47M	2M	155M	2.34B	0	0
Purchase of Investments	-1.65B	-1.79B	-2.27B	-963M	-1.68B	-208M	-59M	-59M	-50M	-134M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-121M	-103M	223M	-289M	-217M	-231M	-258M	-2.65B	-284M	-307M
Cash from Financing+	-279M	-22M	-702M	1.39B	656M	2.61B	-542M	-912M	2.24B	1.43B
Dividends Paid	-607M	-611M	-639M	-772M	-820M	-845M	-849M	-891M	-906M	-970M
Dividend Payout Ratio %	1.05%	-	-	0.53%	0.89%	0.78%	0.66%	2.19%	0.82%	0.99%
Debt Issuance (Net)	1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K
Stock Issued	0	0	0	850M	0	0	1B	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-26M	-43M	-72M	-116M	-35M	-59M	-61M	2.18B	-144M	3.29B
Net Change in Cash+	46M	68M	390M	-214M	250M	1.12B	-290M	-1.3B	-27M	-25M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	85M	131M	199M	643M	429M	679M	1.8B	1.51B	206M	179M
Cash at End	131M	199M	589M	429M	679M	1.8B	1.51B	206M	179M	154M
Free Cash Flow+	553M	304M	967M	-1.26B	-198M	-1.23B	366M	-73M	-1.97B	-1.14B
FCF Growth %	1.66%	-0.45%	2.18%	-2.31%	0.84%	-5.23%	1.3%	-1.2%	-25.97%	0.42%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.65%	-66.19%	-33.92%	25.1%	13.23%	15.18%	16.13%	4.2%	10.22%	7.94%
EBITDA Margin	27.41%	27.66%	29.45%	34.51%	33.77%	31.42%	30.45%	26.37%	28.96%	29.42%
Net Debt / EBITDA	5.30x	5.55x	4.59x	4.92x	5.47x	6.71x	6.61x	6.54x	6.65x	6.10x
Interest Coverage	2.26x	2.24x	2.55x	2.38x	2.61x	2.19x	1.62x	2.00x	2.21x	2.35x
CapEx / Revenue	19.26%	21.06%	20.27%	23.75%	24.15%	24.62%	21.96%	22.12%	26.08%	29.91%
Dividend Payout Ratio	105.02%	-	-	52.74%	89.25%	78.31%	66.17%	219.46%	82.21%	99.18%
Debt / Equity	1.77x	3.61x	4.98x	2.86x	3.01x	3.38x	2.75x	2.04x	2.28x	1.77x
EPS Growth	92.96%	-1157.66%	73.22%	151.29%	-15.58%	18.45%	18.09%	-69.79%	170.42%	-11.46%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Regulated Distribution	9.63B	9.63B	9.73B	131M	16M	9.36B	9.71B	-	11.04B	6.86B
Regulated Distribution Growth	-	0.04%	1.09%	-98.65%	-87.79%	58418.75%	3.72%	-	-	-37.82%
Regulated Transmission	1.01B	1.15B	1.32B	1.33B	1.51B	1.63B	1.62B	-	2.05B	1.79B
Regulated Transmission Growth	-	13.85%	15.12%	0.75%	13.11%	7.95%	-0.74%	-	-	-13.00%
Electricity, US Regulated	-	-	-	-	-	-	-	9.92B	-	-
Electricity, US Regulated Growth	-	-	-	-	-	-	-	-	-	-
Electric Transmission	-	-	-	-	-	-	-	1.86B	-	-
Electric Transmission Growth	-	-	-	-	-	-	-	-	-	-
Electric Worldwide Unregulated Revenue	-	-	-	-	-	-	-	680M	-	-
Electric Worldwide Unregulated Revenue Growth	-	-	-	-	-	-	-	-	-	-
Competitive Energy Services	5.38B	4.55B	3.53B	-	-	-	-	-	-	-
Competitive Energy Services Growth	-	-15.51%	-22.42%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
OHIO	30M	-	-	-	-	-	-	-	-	-
OHIO Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

FirstEnergy Corp. (FE) has a price-to-earnings (P/E) ratio of 27.1x. This suggests investors expect higher future growth.

Growth & Financials

FirstEnergy Corp. (FE) reported $14.47B in revenue for fiscal year 2024. This represents a 11% decrease from $16.26B in 2011.

FirstEnergy Corp. (FE) grew revenue by 4.7% over the past year. Growth has been modest.

Yes, FirstEnergy Corp. (FE) is profitable, generating $1.33B in net income for fiscal year 2024 (7.3% net margin).

Dividend & Returns

Yes, FirstEnergy Corp. (FE) pays a dividend with a yield of 3.64%. This makes it attractive for income-focused investors.

FirstEnergy Corp. (FE) has a return on equity (ROE) of 7.9%. This is below average, suggesting room for improvement.

FirstEnergy Corp. (FE) generated $2.31B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

FirstEnergy Corp. (FE) has a dividend payout ratio of 99%. The high payout ratio may limit dividend growth.

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