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NRGNRG Energy, Inc.
$88.29$18.6B
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
Live BreakoutsStock ScreenerOwnership
NRG logo

NRG Energy, Inc.

NRG
NYSE · Independent Power Producers
$88.29
At close - Nov 6, 4:00 PM EST - USD
Market Cap$18.63B
P/E22.0x
52W High$189.96
Volume8.68M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Debt-Fueled Expansion Masks Volatile Earnings Quality

NRG Energy is executing an aggressive, debt-financed expansion into data center infrastructure, with total assets surging from $24.0B in 2024Q4 to $39.9B in 2026Q2 and PPE expanding six-fold to $14.2B.

GrowthMixed
ProfitabilityStable
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

NRG 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

+13% Peers

P/E is 13% above peer median

03

Market leadership

RS 19 · Lag

Laggard (Underperforming 81% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 9
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 growth is robust, with Q2 2026 revenue up 64.1% YoY to $11.1B, but operating margins are volatile, swinging from 21.2% in Q2 2024 to 0.6% in Q2 2025, reflecting weather and commodity exposure.

Analyst Consensus+95.3% target
Buy(28 analysts)
20 Buy7 Hold1 Sell

The Bull Case

Upside Catalysts

Strategic Acquisitions & Synergies

NRG’s recent acquisitions, including Vivint Smart Home and the LS Power asset portfolio, are projected to boost cash flow by up to $1.0 billion through cost savings and revenue synergies. The LS Power deal adds substantial gas‑fired generation capacity, expanding NRG’s operational footprint and resilience.

Rising Power Demand & Pricing Power

Electricity demand is accelerating due to electrification, a rebound in industrial production, and rapid data‑center growth. In a market where supply struggles to keep pace, NRG enjoys significant pricing power.

Cross‑Selling Opportunities

With 6 million retail energy customers and 2 million home‑services customers, NRG can leverage its acquisitions to cross‑sell products, driving incremental revenue.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
NRG-45.72%
S&P 500 (^GSPC)+7.63%
1-Year Return
NRG-46.98%
S&P 500 (^GSPC)+9.69%
3-Year Return
NRG+104.59%
S&P 500 (^GSPC)+84.55%
5-Year Return
NRG+170.81%
S&P 500 (^GSPC)+71.85%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
22.0x
Forward P/EExpansion
10.1x
EV/EBITDA60th %ile
8.6x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
22.0x
18.1x
75th· Fair
EV/EBITDA
8.6x
8.3x
60th· Fair
Price/FCF
N/A
41.4x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$16.67-81.1%
Base (Fair)$86.35-2.2%
Bull$109.81+24.4%
$16.67 Bear$86.35 Base$109.81 Bull
Current Market Price: $88.29
Trades at a 2.2% premium to Base DCF ($86.35)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$30.71B+9.2% YoY
Net income FY25
$864M-23.2% YoY
Free cash flow FY25
$766M-58.2% YoY
Operating margin FY25
6%-2.6 pts YoY
ROIC (FY25)10.6%
Avg ROIC 5Y13.4%
ROE (TTM)25.4%
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 Rate6/12 (50%)
Revenue Beat Rate6/12 (50%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 4, 2026
$1.49-11.8%
vs $1.69
$7.5B+2.3%
vs $7.3B
Q2 2026
May 6, 2026
$1.48-16.4%
vs $1.77
$10.3B+22.1%
vs $8.4B
Q1 2026
Feb 24, 2026
$1.03+6.0%
vs $0.97
$7.8B+16.3%
vs $6.7B
Q4 2025
Nov 6, 2025
$2.75+28.5%
vs $2.14
$7.6B+2.3%
vs $7.5B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Seeking Alpha·1d ago
5 Relatively Secure And Cheap Dividend Stocks, Yields Up To 8% (November 2026)

This article is part of our monthly series where we highlight five large-cap, relatively safe, dividend-paying companies offering significant discounts to their historical norms. We go over our filtering process to select just five conservative DGI stocks from more than 7,500 companies that are traded on U.S. exchanges, including OTC networks. In addition to the primary list that yields 3.7%, we present two other groups of five DGI stocks, each with moderate to high yields of up to 8%.

Zacks Investment Research·3d ago
NRG Energy to Release Q3 Earnings: What's in the Cards for the Stock?

NRG's Q3 earnings face a mixed outlook as customer growth and acquisitions support results, while higher interest costs and weak stock performance loom.

Zacks Investment Research·4d ago
NRG Energy, Inc. (NRG) Is a Trending Stock: Facts to Know Before Betting on It

Recently, Zacks.com users have been paying close attention to NRG (NRG). This makes it worthwhile to examine what the stock has in store.

Zacks Investment Research·5d ago
Do Options Traders Know Something About NRG Energy Stock We Don't?

Investors need to pay close attention to NRG stock based on the movements in the options market lately.

Filtered for NRG Energy, Inc.More Headlines
04

Compare before deciding

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

Peers Comparison

Key metrics vs top competitors for NRG Energy, Inc. (NRG)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NRG logoNRGNRG Energy, Inc.Current
$88.29$18.63B22.059.17%2.56%25.38%2.34%
VST logoVSTVistra Corp.
$124.80$42.08B15.642.98%13.15%66.78%0.71%
CEG logoCEGConstellation Energy Corporation
$249.95$89.76B25.548.34%11.08%14.48%0.62%
EXC logoEXCExelon Corporation
$45.62$46.68B17.935.34%10.17%8.95%3.5%
AES logoAESThe AES Corporation
$14.87$10.6B5.82-0.37%13.46%15.23%4.73%
DYN logoDYNDyne Therapeutics, Inc.
$18.07$3.37B-5.43——-69.73%—

Compare NRG vs Peers

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

Closest Rival

vs VST

Most directly comparable listed peer for NRG.

Scale Benchmark

vs GE

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

Peer Set

Compare Top 5

vs VST, CEG, EXC, AES

05

Keep researching

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

NRG SEC Filings & Documents

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

8-K Announcements

6
Material company update

Aug 4, 2026·SEC

Material company update

Jul 15, 2026·SEC

Material company update

May 21, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 26, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 4, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 6, 2025·SEC

Get notified when NRG posts new earnings or crosses analyst targets

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NRG Frequently Asked Questions

NRG Energy, Inc. (NRG) stock FAQ — growth, dividends, profitability & financials explained

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

NRG Energy, Inc. (NRG) reported $33.17B in revenue over the trailing twelve months. Revenue was $30.71B in fiscal year 2025. That is 25870% more than the $118.3M of fiscal year 1997.

How fast is NRG Energy, Inc. growing?

NRG Energy, Inc. (NRG) grew revenue by 12.9% over the trailing twelve months, compared with the twelve months before.

Is NRG profitable?

Yes. NRG Energy, Inc. (NRG) earned $849.0M in net income over the trailing twelve months (a 2.6% net margin).

Dividend & Returns
Does NRG pay dividends?

Yes. NRG Energy, Inc. (NRG) pays a dividend that yields 2.34% at the current price, a moderate yield.

What is NRG's return on equity?

NRG Energy, Inc. (NRG) had a return on equity (ROE) of 25.4% over the trailing twelve months. That is well above the market's typical 10-15%.

What is NRG Energy, Inc.'s free cash flow?

NRG Energy, Inc. (NRG) had negative free cash flow of $6.71B over the trailing twelve months.

Industry Metrics
Is NRG's dividend sustainable?

NRG Energy, Inc. (NRG) has a dividend payout ratio of 48%. This suggests the dividend is well-covered and sustainable.

What if you invested $1,000 in NRG back in 1997?

Total return calculator · dividends reinvested · 29+ years of data

See returns →