NRG Energy, Inc. (NRG) Financial Ratios
29 years of historical data (1997–2025) · Utilities · Independent Power Producers
EV/EBITDA
↑
11.66
↑+37% vs avg
5yr avg: 8.48
30Y Low1.8·High22.9
P/FCF
↑
42.19
↑+63% vs avg
5yr avg: 25.90
30Y Low3.5·High148.9
P/B Ratio
↑
17.83
↑+151% vs avg
5yr avg: 7.10
30Y Low0.5·High18.9
ROE
↓
41.5%
↓+8% vs avg
5yr avg: 38.6%
30Y Low-423%·High307%
Debt/EBITDA
↑
4.41
+17% vs avg
5yr avg: 3.77
30Y Low1.3·High32.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NRG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
NRG Energy, Inc. trades at 37.6x earnings, 119% above its 5-year average of 17.2x, sitting at the 78th percentile of its historical range. Compared to the Utilities sector median P/E of 19.7x, the stock trades at a premium of 90%. On a free-cash-flow basis, the stock trades at 42.2x P/FCF, 63% above the 5-year average of 25.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $32.3B | $31.7B | $19.1B | $11.8B | $7.5B | $10.6B | $9.2B | $10.5B | $12.2B | $9.0B | $3.9B |
| Enterprise Value | $44.3B | $43.7B | $29.2B | $22.2B | $15.4B | $18.6B | $14.4B | $16.6B | $18.2B | $24.4B | $21.1B |
| P/E Ratio → | 37.57 | 39.71 | 18.08 | — | 6.15 | 4.82 | 18.14 | 2.36 | 45.52 | — | — |
| P/S Ratio | 1.05 | 1.03 | 0.68 | 0.41 | 0.24 | 0.39 | 1.02 | 1.07 | 1.29 | 0.99 | 0.43 |
| P/B Ratio | 17.83 | 18.85 | 7.72 | 4.06 | 1.96 | 2.93 | 5.50 | 6.25 | — | 4.41 | 0.86 |
| P/FCF | 42.19 | 41.37 | 10.43 | — | — | — | 6.88 | 5.33 | 12.33 | 9.30 | 3.48 |
| P/OCF | 16.90 | 16.56 | 8.29 | — | 20.86 | 21.41 | 5.03 | 7.43 | 8.86 | 6.51 | 1.87 |
P/E links to full P/E history page with 30-year chart
NRG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
NRG Energy, Inc.'s enterprise value stands at 11.7x EBITDA, 37% above its 5-year average of 8.5x. This is roughly in line with the Utilities sector median of 11.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.42 | 1.04 | 0.77 | 0.49 | 0.69 | 1.58 | 1.69 | 1.92 | 2.69 | 2.37 |
| EV / EBITDA | 11.66 | 11.49 | 7.62 | 13.23 | 5.62 | 4.45 | 8.64 | 9.29 | 11.93 | — | 22.91 |
| EV / EBIT | 23.97 | 23.63 | 13.89 | 48.94 | 7.39 | 5.56 | 12.37 | 13.84 | 19.11 | — | — |
| EV / FCF | — | 57.07 | 15.90 | — | — | — | 10.70 | 8.43 | 18.36 | 25.17 | 19.00 |
NRG Profitability
Margins and return-on-capital ratios measuring operating efficiency
NRG Energy, Inc. earns an operating margin of 6.0%, below the Utilities sector average of 19.8%. Operating margins have expanded from 1.3% to 6.0% over the past 3 years, signaling improving operational efficiency. Return on equity of 41.5% is exceptionally high — well above the sector median of 9.4%. ROIC of 10.6% represents solid 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 | 21.8% | 21.8% | 21.4% | 8.0% | 13.0% | 24.1% | 28.1% | 25.6% | 25.0% | 24.1% | 25.1% |
| Operating Margin | 6.0% | 6.0% | 8.6% | 1.3% | 6.4% | 12.4% | 12.2% | 13.1% | 10.4% | -8.2% | 0.4% |
| Net Profit Margin | 2.8% | 2.8% | 4.0% | -0.7% | 3.9% | 8.1% | 5.6% | 45.2% | 2.8% | -23.7% | -8.7% |
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 | 41.5% | 41.5% | 41.8% | -6.0% | 32.9% | 82.8% | 30.4% | 1917.1% | 64.5% | -65.9% | -15.1% |
| ROA | 3.3% | 3.3% | 4.5% | -0.7% | 4.7% | 11.5% | 3.7% | 38.3% | 1.6% | -8.0% | -2.4% |
| ROIC | 10.6% | 10.6% | 14.1% | 2.3% | 13.0% | 27.2% | 11.4% | 15.5% | 9.6% | -3.6% | 0.1% |
| ROCE | 10.2% | 10.2% | 15.3% | 2.3% | 12.8% | 23.6% | 9.5% | 14.0% | 7.0% | -3.2% | 0.1% |
NRG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
NRG Energy, Inc. carries a Debt/EBITDA ratio of 4.4x, which is highly leveraged (11% below the sector average of 5.0x). Net debt stands at $12.0B ($16.8B total debt minus $4.7B cash). Interest coverage of just 2.4x 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 | 9.97 | 9.97 | 4.44 | 3.78 | 2.17 | 2.30 | 5.38 | 3.84 | — | 4.59 | 3.67 |
| Debt / EBITDA | 4.41 | 4.41 | 2.87 | 6.53 | 3.03 | 1.98 | 5.43 | 3.61 | 4.28 | — | 17.87 |
| Net Debt / Equity | — | 7.16 | 4.05 | 3.59 | 2.06 | 2.23 | 3.06 | 3.64 | — | 7.53 | 3.84 |
| Net Debt / EBITDA | 3.16 | 3.16 | 2.62 | 6.21 | 2.88 | 1.92 | 3.09 | 3.41 | 3.91 | — | 18.71 |
| Debt / FCF | — | 15.70 | 5.47 | — | — | — | 3.82 | 3.10 | 6.02 | 15.87 | 15.52 |
| Interest Coverage | 2.40 | 2.40 | 3.22 | 0.68 | 4.99 | 6.89 | 2.90 | 2.90 | 1.97 | -1.49 | -0.60 |
NRG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.64x means NRG Energy, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.02x to 1.64x 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 | 1.64 | 1.64 | 1.02 | 1.02 | 1.25 | 1.37 | 3.15 | 1.31 | 1.50 | 1.34 | 1.54 |
| Quick Ratio | 1.58 | 1.58 | 0.96 | 0.96 | 1.19 | 1.31 | 2.98 | 1.15 | 1.33 | 1.20 | 1.37 |
| Cash Ratio | 0.86 | 0.86 | 0.11 | 0.06 | 0.03 | 0.03 | 2.04 | 0.15 | 0.23 | 0.23 | 0.21 |
| Asset Turnover | — | 1.05 | 1.17 | 1.11 | 1.08 | 1.16 | 0.61 | 0.78 | 0.89 | 0.39 | 0.29 |
| Inventory Turnover | 52.06 | 52.06 | 46.23 | 43.70 | 36.54 | 41.13 | 20.00 | 19.07 | 17.25 | 15.20 | 9.26 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
NRG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
NRG Energy, Inc. returns 5.7% to shareholders annually — split between a 1.4% dividend yield and 4.3% buyback yield. A payout ratio of 47.6% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 2.7% (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 | 1.4% | 1.3% | 2.1% | 3.2% | 4.4% | 3.0% | 3.2% | 0.3% | 0.3% | 0.4% | 2.0% |
| Payout Ratio | 47.6% | 47.6% | 36.0% | — | 27.2% | 14.6% | 57.8% | 0.7% | 13.8% | — | — |
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 | 2.7% | 2.5% | 5.5% | — | 16.2% | 20.7% | 5.5% | 42.3% | 2.2% | — | — |
| FCF Yield | 2.4% | 2.4% | 9.6% | — | — | — | 14.5% | 18.8% | 8.1% | 10.8% | 28.7% |
| Buyback Yield | 4.3% | 4.4% | 4.9% | 9.9% | 8.1% | 0.5% | 2.5% | 13.7% | 10.2% | 0.0% | 5.8% |
| Total Shareholder Yield | 5.7% | 5.7% | 7.0% | 13.2% | 12.5% | 3.5% | 5.7% | 14.0% | 10.6% | 0.4% | 7.8% |
| Shares Outstanding | — | $199M | $212M | $228M | $236M | $245M | $246M | $264M | $308M | $317M | $316M |
Peer Comparison
Compare NRG 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 |
|---|---|---|---|---|---|---|---|---|---|
 NRGYou | $32B | 37.6 | 11.7 | 42.2 | 21.8% | 6.0% | 41.5% | 10.6% | 4.4 |
 VST | $54B | 71.6 | 17.1 | 415.4 | 17.5% | 7.9% | 17.7% | 4.3% | 4.8 |
 CEG | $101B | 43.6 | 26.1 | 78.3 | 75.8% | 12.1% | 16.3% | 11.9% | 2.2 |
 EXC | $46B | 16.4 | 10.9 | — | 27.9% | 21.2% | 9.9% | 5.1% | 5.8 |
 AES | $10B | 11.4 | 11.2 | — | 18.1% | 16.1% | 9.7% | 3.9% | 8.8 |
 DYN | $3B | -5.4 | — | — | — | — | -55.7% | -221.2% | — |
 D | $54B | 17.9 | 15.1 | — | 49.0% | 26.7% | 9.4% | 4.3% | 7.2 |
 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 |
 PPL | $27B | 23.1 | 12.7 | — | 39.1% | 23.6% | 6.6% | 4.6% | 5.2 |
 ETR | $52B | 28.9 | 14.8 | — | 29.9% | 23.6% | 10.9% | 5.0% | 5.5 |
| 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 →
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Start ComparisonNRG — Frequently Asked Questions
Quick answers to the most common questions about buying NRG stock.
What is NRG Energy, Inc.'s P/E ratio?
NRG Energy, Inc.'s current P/E ratio is 37.6x. The historical average is 24.2x. This places it at the 78th percentile of its historical range.
What is NRG Energy, Inc.'s EV/EBITDA?
NRG Energy, Inc.'s current EV/EBITDA is 11.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.4x.
What is NRG Energy, Inc.'s ROE?
NRG Energy, Inc.'s return on equity (ROE) is 41.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 5.2%.
Is NRG stock overvalued?
Based on historical data, NRG Energy, Inc. is trading at a P/E of 37.6x. This is at the 78th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is NRG Energy, Inc.'s dividend yield?
NRG Energy, Inc.'s current dividend yield is 1.37% with a payout ratio of 47.6%.
What are NRG Energy, Inc.'s profit margins?
NRG Energy, Inc. has 21.8% gross margin and 6.0% operating margin.
How much debt does NRG Energy, Inc. have?
NRG Energy, Inc.'s Debt/EBITDA ratio is 4.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.