NRG Energy, Inc. (NRG) Revenue History
Annual and quarterly revenue from 1997 to present
NRG Revenue Over Time (1997–2025)
NRG Revenue Growth History
20 of 28 years with positive growth- FY1997 revenue growth
- N/A
- FY1998 revenue growth
- +54.0%
- FY1999 revenue growth
- +174.5%
- FY2000 revenue growth
- +262.0%
- FY2001 revenue growth
- +15.2%
- FY2002 revenue growth
- -19.0%
- FY2003 revenue growth
- +1.3%
- FY2004 revenue growth
- +23.0%
- FY2005 revenue growth
- +14.1%
- FY2006 revenue growth
- +132.7%
- FY2007 revenue growth
- +7.2%
- FY2008 revenue growth
- +15.0%
- FY2009 revenue growth
- +30.0%
- FY2010 revenue growth
- -1.2%
- FY2011 revenue growth
- +2.6%
- FY2012 revenue growth
- -7.2%
- FY2013 revenue growth
- +34.1%
- FY2014 revenue growth
- +40.5%
- FY2015 revenue growth
- -22.3%
- FY2016 revenue growth
- -27.7%
- FY2017 revenue growth
- +1.8%
- FY2018 revenue growth
- +4.5%
- FY2019 revenue growth
- +3.6%
- FY2020 revenue growth
- -7.4%
- FY2021 revenue growth
- +196.8%
- FY2022 revenue growth
- +16.9%
- FY2023 revenue growth
- -8.6%
- FY2024 revenue growth
- -2.4%
- FY2025 revenue growth
- +9.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $10.26B | +19.5% |
| Q4 2025 | $7.75B | +13.7% |
| Q3 2025 | $7.63B | +5.7% |
| Q2 2025 | $6.74B | +1.2% |
| Q1 2025 | $8.59B | +15.6% |
| Q4 2024 | $6.82B | +0.2% |
| Q3 2024 | $7.22B | -9.1% |
| Q2 2024 | $6.66B | +4.9% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
NRG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NRG Revenue Analysis (1997–2025)
Current Revenue & Growth
As of June 21, 2026, NRG Energy, Inc. (NRG) generated trailing twelve-month (TTM) revenue of $32.38 billion, reflecting strong growth of +19.5% year-over-year. The most recent quarter (Q1 2026) recorded $10.26 billion in revenue, up 32.3% sequentially.
Historical Growth Trajectory
NRG's 5-year compound annual growth rate (CAGR) stands at +27.6%, indicating outstanding long-term growth trajectory. The 3-year CAGR of -0.9% is below the 5-year average, signalling a growth deceleration in recent years. NRG Energy, Inc.'s highest annual revenue of $31.54 billion was recorded in 2022.
Revenue by Segment
NRG's revenue is primarily driven by East Segment (46%), Texas Segment (36%), and West, Services and Other Segment (10%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Utilities sector peers — including VST (-25.5% YoY), CEG (+23.4% YoY), and EXC (+4.6% YoY) — NRG has outperformed the peer group in revenue growth. Compare NRG vs VST →
NRG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NRGCurrent | $32.4B | +19.5% | +27.6% | 6.0% | |
 VST | $17.0B | -25.5% | +8.9% | 7.9% | |
 CEG | $25.5B | +23.4% | +7.7% | 12.1% | |
 EXC | $24.3B | +4.6% | -6.0% | 21.2% | |
 AES | $12.2B | +3.0% | +4.8% | 16.1% |
NRG Historical Revenue Data (1997–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $30.71B | +9.2% | $6.71B | 21.8% | $1.85B | 6.0% |
| 2024 | $28.13B | -2.4% | $6.03B | 21.4% | $2.42B | 8.6% |
| 2023 | $28.82B | -8.6% | $2.30B | 8.0% | $384.0M | 1.3% |
| 2022 | $31.54B | +16.9% | $4.10B | 13.0% | $2.02B | 6.4% |
| 2021 | $26.99B | +196.8% | $6.51B | 24.1% | $3.34B | 12.4% |
| 2020 | $9.09B | -7.4% | $2.55B | 28.1% | $1.10B | 12.2% |
| 2019 | $9.82B | +3.6% | $2.52B | 25.6% | $1.29B | 13.1% |
| 2018 | $9.48B | +4.5% | $2.37B | 25.0% | $982.0M | 10.4% |
| 2017 | $9.07B | +1.8% | $2.19B | 24.1% | $-741,000,000 | -8.2% |
| 2016 | $8.91B | -27.7% | $2.24B | 25.1% | $33.0M | 0.4% |
| 2015 | $12.33B | -22.3% | $3.33B | 27.0% | $-4,051,000,000 | -32.9% |
| 2014 | $15.87B | +40.5% | $4.06B | 25.6% | $1.27B | 8.0% |
| 2013 | $11.29B | +34.1% | $3.17B | 28.0% | $343.0M | 3.0% |
| 2012 | $8.42B | -7.2% | $2.28B | 27.1% | $350.0M | 4.2% |
| 2011 | $9.08B | +2.6% | $2.33B | 25.7% | $635.0M | 7.0% |
Full Stock Analysis
Deep dive into NRG consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
29+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
NRG — Frequently Asked Questions
Quick answers to the most common questions about buying NRG stock.
Is NRG's revenue growth accelerating or slowing?
NRG revenue growth is accelerating. TTM revenue reached $32.4B, up +19.5% year-over-year — ahead of the 5-year CAGR of +27.6%. This indicates the business is expanding faster than its historical baseline.
What is NRG's revenue history from 1997 to 2026?
NRG Energy, Inc. (NRG) revenue history spans 1997 to 2026. TTM revenue as of 2026 is $32.4B, growing at +19.5% YoY. The 5-year CAGR is +27.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NRG's long-term revenue growth rate (CAGR)?
NRG Energy, Inc.'s 5-year revenue CAGR of +27.6% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +19.5% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NRG.
Why does NRG's quarterly revenue fluctuate?
NRG quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. NRG Energy, Inc.'s revenue data from 1997 to 2026 shows full historical quarterly detail on this page.
How is NRG's revenue distributed by segment?
NRG reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does NRG's revenue compare to industry peers?
NRG Energy, Inc. (NRG) with TTM revenue of $32.4B and +19.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.