FirstEnergy Corp. (FE) Financial Ratios
29 years of historical data (1997–2025) · Utilities · Regulated Electric
EV/EBITDA
↓
12.15
-4% vs avg
5yr avg: 12.68
30Y Low4.8·High14.4
P/FCF
N/A
—
5yr avg: 62.04
30Y Low6.0·High62.0
P/B Ratio
↓
1.89
-9% vs avg
5yr avg: 2.07
30Y Low1.1·High3.8
ROE
↓
7.4%
-20% vs avg
5yr avg: 9.2%
30Y Low-66%·High25%
Debt/EBITDA
↓
6.17
↓-5% vs avg
5yr avg: 6.52
30Y Low2.7·High8.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
FirstEnergy Corp. trades at 25.9x earnings, 11% below its 5-year average of 28.9x, sitting at the 85th percentile of its historical range. Compared to the Utilities sector median P/E of 19.7x, the stock trades at a premium of 31%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $26.3B | $25.9B | $23.0B | $21.0B | $24.0B | $22.7B | $16.6B | $26.3B | $18.5B | $13.6B | $13.2B |
| Enterprise Value | $53.3B | $52.8B | $47.1B | $45.8B | $45.5B | $45.1B | $39.4B | $46.7B | $37.7B | $32.6B | $35.5B |
| P/E Ratio → | 25.87 | 25.44 | 23.40 | 19.09 | 59.07 | 17.70 | 15.38 | 28.93 | 18.87 | — | — |
| P/S Ratio | 1.75 | 1.71 | 1.70 | 1.64 | 1.93 | 2.04 | 1.54 | 2.39 | 1.65 | 0.97 | 0.91 |
| P/B Ratio | 1.89 | 1.86 | 1.67 | 1.93 | 2.25 | 2.62 | 2.30 | 3.78 | 2.72 | 3.46 | 2.11 |
| P/FCF | — | — | — | — | — | 62.04 | — | — | — | 14.06 | 43.40 |
| P/OCF | 7.12 | 6.99 | 7.94 | 15.17 | 8.94 | 8.08 | 11.68 | 10.68 | 13.16 | 3.57 | 3.91 |
P/E links to full P/E history page with 30-year chart
FE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
FirstEnergy Corp.'s enterprise value stands at 12.1x EBITDA, roughly in line with its 5-year average of 12.7x. The Utilities sector median is 11.5x, placing the stock at a 5% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.50 | 3.50 | 3.56 | 3.65 | 4.05 | 3.65 | 4.23 | 3.35 | 2.32 | 2.44 |
| EV / EBITDA | 12.15 | 12.04 | 11.89 | 12.29 | 13.85 | 13.30 | 11.61 | 12.53 | 9.70 | 7.89 | 8.82 |
| EV / EBIT | 18.82 | 18.65 | 18.73 | 18.39 | 19.00 | 17.19 | 18.18 | 22.47 | 14.70 | 13.68 | 17.81 |
| EV / FCF | — | — | — | — | — | 123.22 | — | — | — | 33.66 | 116.93 |
FE Profitability
Margins and return-on-capital ratios measuring operating efficiency
FirstEnergy Corp. earns an operating margin of 18.8%, roughly in line with the Utilities sector average. Operating margins have expanded from 17.6% to 18.8% over the past 3 years, signaling improving operational efficiency. ROE of 7.4% is modest, trailing the sector median of 9.4%. ROIC of 5.4% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.8% | 54.8% | 67.5% | 63.9% | 63.1% | 69.1% | 71.5% | 69.0% | 67.6% | 53.5% | 46.8% |
| Operating Margin | 18.8% | 18.8% | 17.6% | 17.6% | 15.3% | 15.5% | 20.0% | 22.7% | 22.2% | 17.3% | 14.1% |
| Net Profit Margin | 6.8% | 6.8% | 7.3% | 8.6% | 3.3% | 11.5% | 10.0% | 8.3% | 12.0% | -12.3% | -42.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.4% | 7.4% | 7.9% | 10.2% | 4.2% | 16.1% | 15.2% | 13.2% | 25.1% | -33.9% | -66.2% |
| ROA | 1.9% | 1.9% | 1.9% | 2.3% | 0.9% | 2.9% | 2.5% | 2.2% | 3.3% | -4.0% | -13.0% |
| ROIC | 5.4% | 5.4% | 4.8% | 5.0% | 4.5% | 4.2% | 5.7% | 7.1% | 7.7% | 7.1% | 4.9% |
| ROCE | 5.8% | 5.8% | 5.3% | 5.3% | 4.6% | 4.3% | 5.6% | 6.9% | 6.8% | 6.5% | 5.0% |
FE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
FirstEnergy Corp. carries a Debt/EBITDA ratio of 6.2x, which is highly leveraged (24% above the sector average of 5.0x). Net debt stands at $27.0B ($27.1B total debt minus $99M cash). Interest coverage of just 2.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.94 | 1.94 | 1.77 | 2.28 | 2.04 | 2.75 | 3.38 | 3.01 | 2.86 | 4.98 | 3.61 |
| Debt / EBITDA | 6.17 | 6.17 | 6.12 | 6.68 | 6.59 | 7.04 | 7.22 | 5.63 | 5.02 | 4.73 | 5.60 |
| Net Debt / Equity | — | 1.94 | 1.76 | 2.27 | 2.02 | 2.58 | 3.14 | 2.92 | 2.81 | 4.83 | 3.58 |
| Net Debt / EBITDA | 6.15 | 6.15 | 6.10 | 6.65 | 6.54 | 6.61 | 6.71 | 5.47 | 4.92 | 4.59 | 5.55 |
| Debt / FCF | — | — | — | — | — | 61.18 | — | — | — | 19.60 | 73.53 |
| Interest Coverage | 2.49 | 2.49 | 2.49 | 2.43 | 2.51 | 2.47 | 2.19 | 2.16 | 2.44 | 2.50 | 2.17 |
FE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.57x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.48x to 0.57x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.57 | 0.57 | 0.56 | 0.48 | 0.61 | 0.73 | 0.74 | 0.50 | 0.51 | 0.76 | 0.41 |
| Quick Ratio | 0.46 | 0.46 | 0.45 | 0.38 | 0.50 | 0.67 | 0.68 | 0.44 | 0.46 | 0.65 | 0.33 |
| Cash Ratio | 0.02 | 0.02 | 0.02 | 0.03 | 0.04 | 0.33 | 0.35 | 0.13 | 0.08 | 0.14 | 0.03 |
| Asset Turnover | — | 0.27 | 0.26 | 0.26 | 0.27 | 0.25 | 0.24 | 0.26 | 0.28 | 0.33 | 0.34 |
| Inventory Turnover | 11.83 | 11.83 | 7.97 | 9.07 | 10.91 | 13.25 | 9.68 | 12.19 | 14.47 | 7.39 | 6.88 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
FirstEnergy Corp. returns 3.9% to shareholders annually primarily through dividends. The payout ratio of 99.6% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 3.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.9% | 3.9% | 4.2% | 4.3% | 3.7% | 3.7% | 5.1% | 3.1% | 3.8% | 4.7% | 4.6% |
| Payout Ratio | 99.6% | 99.6% | 99.2% | 82.2% | 219.5% | 66.2% | 78.3% | 89.3% | 52.7% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.9% | 3.9% | 4.3% | 5.2% | 1.7% | 5.7% | 6.5% | 3.5% | 5.3% | — | — |
| FCF Yield | — | — | — | — | — | 1.6% | — | — | — | 7.1% | 2.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.9% | 3.9% | 4.2% | 4.3% | 3.7% | 3.7% | 5.1% | 3.1% | 3.8% | 4.7% | 4.6% |
| Shares Outstanding | — | $578M | $577M | $574M | $572M | $546M | $543M | $542M | $494M | $444M | $426M |
Peer Comparison
Compare FE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FEYou | $26B | 25.9 | 12.1 | — | 54.8% | 18.8% | 7.4% | 5.4% | 6.2 |
 EXC | $46B | 16.4 | 10.9 | — | 27.9% | 21.2% | 9.9% | 5.1% | 5.8 |
 PPL | $27B | 23.1 | 12.7 | — | 39.1% | 23.6% | 6.6% | 4.6% | 5.2 |
 ES | $26B | 15.0 | 10.4 | — | 30.1% | 22.1% | 10.7% | 4.9% | 5.6 |
 ETR | $52B | 28.9 | 14.8 | — | 29.9% | 23.6% | 10.9% | 5.0% | 5.5 |
 EIX | $26B | 6.0 | 7.0 | — | 57.8% | 36.7% | 24.6% | 9.1% | 4.3 |
 CNP | $28B | 26.5 | 14.1 | — | 28.7% | 22.6% | 9.6% | 4.8% | 6.5 |
 AEP | $72B | 19.9 | 13.9 | — | 31.8% | 24.3% | 12.1% | 5.1% | 5.7 |
 DUK | $98B | 19.9 | 12.6 | — | 31.6% | 26.6% | 9.5% | 4.6% | 6.1 |
 SO | $105B | 23.9 | 12.8 | — | 29.8% | 24.6% | 11.5% | 5.3% | 4.9 |
 D | $54B | 17.9 | 15.1 | — | 49.0% | 26.7% | 9.4% | 4.3% | 7.2 |
| Utilities Median | — | 19.7 | 11.5 | 15.4 | 40.7% | 19.8% | 9.4% | 4.9% | 5.0 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 29 years · Updated daily
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Start ComparisonFE — Frequently Asked Questions
Quick answers to the most common questions about buying FE stock.
What is FirstEnergy Corp.'s P/E ratio?
FirstEnergy Corp.'s current P/E ratio is 25.9x. The historical average is 21.5x. This places it at the 85th percentile of its historical range.
What is FirstEnergy Corp.'s EV/EBITDA?
FirstEnergy Corp.'s current EV/EBITDA is 12.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.5x.
What is FirstEnergy Corp.'s ROE?
FirstEnergy Corp.'s return on equity (ROE) is 7.4%. The historical average is 6.0%.
Is FE stock overvalued?
Based on historical data, FirstEnergy Corp. is trading at a P/E of 25.9x. This is at the 85th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is FirstEnergy Corp.'s dividend yield?
FirstEnergy Corp.'s current dividend yield is 3.86% with a payout ratio of 99.6%.
What are FirstEnergy Corp.'s profit margins?
FirstEnergy Corp. has 54.8% gross margin and 18.8% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does FirstEnergy Corp. have?
FirstEnergy Corp.'s Debt/EBITDA ratio is 6.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.