OGE Energy Corp. (OGE) 10-Year Financial Performance & Capital Metrics

OGE • • Utilities

UtilitiesElectric UtilitiesRegional Electric UtilitiesSingle-State Electric Utilities

AboutOGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy. It provides retail electric service to approximately 879,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets. As of December 31, 2021, the company owned and operated interconnected electric generation, transmission, and distribution systems, including 16 generating stations with an aggregate capability of 7,207 megawatts; and transmission systems comprising 54 substations and 5,122 structure miles of lines in Oklahoma, and 7 substations and 277 structure miles of lines in Arkansas. Its distribution systems included 350 substations; 29,494 structure miles of overhead lines; 3,365 miles of underground conduit; and 11,125 miles of underground conductors in Oklahoma, as well as 29 substations, 2,795 structure miles of overhead lines, 349 miles of underground conduit, and 662 miles of underground conductors in Arkansas. The company was founded in 1902 and is based in Oklahoma City, Oklahoma.Show more

Revenue $2.99B +11.6%
EBITDA $1.28B +11.1%
Net Income $442M +5.9%
Free Cash Flow -$278M -614.0%
EBITDA Margin 43.04% -0.5%
Net Margin 14.79% -5.1%
ROE 9.65% +3.3%
Interest Coverage 2.93 +2.9%
Debt/Equity 1.19 +10.9%
Net Debt/EBITDA 4.30 +2.7%
CapEx / Revenue 36.54% -17.1%
CapEx Coverage 0.75 -28.8%

Technical Analysis

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.98%

5Y5.99%

3Y-6.51%

TTM18.03%

Profit (Net Income) CAGR

10Y1.1%

5Y0.36%

3Y-15.71%

TTM29.81%

EPS CAGR

10Y1.01%

5Y0.28%

3Y-15.89%

TTM28.84%

ROCE

10Y Avg5.47%

5Y Avg5.6%

3Y Avg5.95%

Latest6.19%

Peer Comparison

Single-State Electric Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IDAIDACORP, Inc.	7.17B	132.73	24.13	3.41%	17.59%	9.11%	0.92
TXNMTXNM Energy, Inc.	6.43B	59.03	22.11	1.65%	8.41%	5.11%	2.25
EVRGEvergy, Inc.	17.45B	75.78	19.99	6.17%	14.41%	8.4%	1.41
OGEOGE Energy Corp.	9.01B	43.72	19.96	11.63%	15.28%	10.49%	1.19
EIXEdison International	23.67B	61.52	18.59	7.72%	17.61%	16.48%	2.13
PNWPinnacle West Capital Corporation	11.09B	92.69	17.69	9.13%	11.2%	8.24%	1.61
PORPortland General Electric Company	5.55B	49.30	16.38	17.69%	8.82%	7.67%	1.36
PCGPacific Gas & Electric Co.	34.68B	15.78	13.72	-0.04%	10.93%	8.4%	1.92

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	2.2B	2.26B	2.26B	2.27B	2.23B	2.12B	3.65B	3.38B	2.67B	2.99B
Revenue Growth %	-0.1%	0.03%	0%	0%	-0.02%	-0.05%	0.72%	-0.08%	-0.21%	0.12%
Cost of Revenue	1.32B	1.32B	1.36B	1.37B	1.28B	1.11B	2.59B	2.16B	1.41B	1.59B
Gross Profit+	880.3M	941M	904.8M	903.2M	952.9M	1.01B	1.06B	1.21B	1.26B	1.39B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.03%	0.07%	-0.04%	-0%	0.06%	0.07%	0.05%	0.14%	0.04%	0.11%
Operating Expenses+	399.1M	410.2M	372.9M	413.6M	448.6M	492.7M	518.8M	562.4M	609.8M	649.2M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	789.1M	825.9M	793.8M	811.2M	859.3M	913.5M	960.2M	1.11B	1.16B	1.28B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-0.04%	0.05%	-0.04%	0.02%	0.06%	0.06%	0.05%	0.16%	0.04%	0.11%
Depreciation & Amortization+	307.9M	322.6M	283.5M	321.6M	355M	391.3M	416M	460.9M	506.6M	539.5M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	481.2M	503.3M	510.3M	489.6M	504.3M	522.2M	544.2M	649.5M	650.2M	745.3M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.1%	0.05%	0.01%	-0.04%	0.03%	0.04%	0.04%	0.19%	0%	0.15%
Interest Expense+	153.2M	149.6M	161.8M	167.7M	150.7M	160.4M	161.8M	166.3M	228.5M	254.5M
Interest Coverage	3.14x	3.36x	3.15x	2.92x	3.35x	3.26x	3.36x	3.91x	2.85x	2.93x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K
Pretax Income+	368.7M	486.3M	569.7M	497.7M	463.4M	-301.1M	878.5M	789.3M	473M	520.6M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	97.4M	148.1M	-49.3M	72.2M	29.8M	-127.4M	141.2M	123.6M	56.2M	79.1M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	271.3M	338.2M	619M	425.5M	433.6M	-173.7M	737.3M	665.7M	416.8M	441.5M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.31%	0.25%	0.83%	-0.31%	0.02%	-1.4%	5.24%	-0.1%	-0.37%	0.06%
EPS (Diluted)+	1.36	1.69	3.10	2.12	2.16	-0.87	3.68	3.32	2.07	2.19
EPS Growth %	-0.31%	0.24%	0.83%	-0.32%	0.02%	-1.4%	5.23%	-0.1%	-0.38%	0.06%
EPS (Basic)	1.36	1.69	3.10	2.13	2.17	-0.87	3.68	3.33	2.08	2.20
Diluted Shares Outstanding	199.6M	199.9M	200M	200.5M	200.7M	200.1M	200.3M	200.8M	200.9M	201.3M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	9.58B	9.94B	10.41B	10.75B	11.02B	10.72B	12.61B	12.54B	12.79B	13.72B
Asset Growth %	0.01%	0.04%	0.05%	0.03%	0.03%	-0.03%	0.18%	-0%	0.02%	0.07%
PP&E (Net)+	7.39B	7.77B	8.42B	8.72B	9.13B	9.48B	9.95B	10.65B	11.41B	12.21B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	570.2M	549.5M	497M	557.3M	430.2M	428.5M	613.6M	1.34B	771.5M	895.1M
Cash & Equivalents	75.2M	300K	14.4M	94.3M	0	1.1M	0	88.1M	200K	600K
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	193.9M	161.5M	165.1M	184.3M	136.9M	152.7M	158.5M	289.3M	412.8M	377.7M
Other Current Assets	55.6M	81.8M	54.6M	29.5M	24.4M	41.2M	73.3M	103.5M	58.8M	88.9M
Long-Term Investments	1.19B	1.16B	1.16B	1.18B	1.15B	374.3M	785.1M	105.8M	114M	124.2M
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	100.2M	129.4M	190.4M	348.7M	548.6M
Other Assets	422.9M	461.7M	338.7M	296.6M	315.3M	331.4M	1.13B	255.1M	141.5M	-62.7M
Total Liabilities	6.25B	6.5B	6.56B	6.74B	6.88B	7.09B	8.55B	8.13B	8.28B	9.08B
Total Debt+	2.74B	2.87B	3.17B	3.15B	3.31B	3.59B	4.98B	4.55B	4.84B	5.52B
Net Debt	2.66B	2.87B	3.15B	3.05B	3.31B	3.59B	4.98B	4.46B	4.84B	5.52B
Long-Term Debt	2.63B	2.41B	2.75B	2.9B	3.2B	3.49B	4.5B	3.55B	4.34B	5.02B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	45.8M	600K	37.6M	34.8M	30.5M	32.7M
Total Current Liabilities+	752.8M	1.03B	950.5M	869.4M	657.9M	697.4M	1.09B	1.8B	1.18B	1.23B
Accounts Payable	262.5M	205.4M	230.4M	239.3M	194.9M	251.5M	274M	448.9M	276.4M	305.7M
Accrued Expenses	42.9M	40.4M	44M	44.5M	37.9M	40.2M	40.8M	41.1M	57.4M	63.8M
Deferred Revenue	77M	77.7M	80.7M	83.6M	83M	81.1M	81.1M	88.8M	103.5M	111.1M
Other Current Liabilities	159.6M	141.1M	66.3M	135.1M	110.6M	93.4M	71.8M	86.6M	111.3M	104M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	694.8M	728.3M	1.63B	1.66B	1.65B	1.62B	1.62B	1.53B	1.45B	1.44B
Total Equity+	3.33B	3.44B	3.85B	4.01B	4.14B	3.63B	4.06B	4.41B	4.51B	4.64B
Equity Growth %	0.03%	0.04%	0.12%	0.04%	0.03%	-0.12%	0.12%	0.09%	0.02%	0.03%
Shareholders Equity	3.33B	3.44B	3.85B	4.01B	4.14B	3.63B	4.06B	4.41B	4.51B	4.64B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	1.1B	1.11B	1.11B	1.13B	1.13B	1.12B	1.13B	1.13B	1.15B	2M
Additional Paid-in Capital	1.1B	1.11B	1.11B	0	0	0	0	0	0	1.17B
Retained Earnings	2.26B	2.37B	2.76B	2.91B	3.04B	2.54B	2.96B	3.29B	3.37B	3.48B
Accumulated OCI	-35.1M	-29.3M	-23.2M	-28.9M	-27.9M	-32.1M	-24.8M	-11.9M	-7.2M	-2.7M
Return on Assets (ROA)	0.03%	0.03%	0.06%	0.04%	0.04%	-0.02%	0.06%	0.05%	0.03%	0.03%
Return on Equity (ROE)	0.08%	0.1%	0.17%	0.11%	0.11%	-0.04%	0.19%	0.16%	0.09%	0.1%
Debt / Equity	0.82x	0.83x	0.82x	0.79x	0.80x	0.99x	1.23x	1.03x	1.07x	1.19x
Debt / Assets	0.29%	0.29%	0.3%	0.29%	0.3%	0.33%	0.4%	0.36%	0.38%	0.4%
Net Debt / EBITDA	3.38x	3.47x	3.97x	3.76x	3.85x	3.93x	5.19x	4.02x	4.18x	4.30x
Book Value per Share	16.66	17.23	19.26	19.98	20.63	18.15	20.25	21.98	22.46	23.05

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+	867.1M	644.7M	784.5M	951.1M	681.5M	712.8M	-229.9M	952.4M	1.23B	812.8M
Operating CF Growth %	0.2%	-0.26%	0.22%	0.21%	-0.28%	0.05%	-1.32%	5.14%	0.29%	-0.34%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	271.3M	338.2M	619M	425.5M	433.6M	-173.7M	737.3M	665.7M	416.8M	441.5M
Depreciation & Amortization	307.9M	322.6M	283.5M	321.6M	355M	391.3M	416M	460.9M	506.6M	539.5M
Deferred Taxes	102.6M	153.8M	-50M	78.5M	27.6M	-134.5M	125.9M	-154M	11.6M	15.6M
Other Non-Cash Items	52.7M	-50.4M	-105.9M	-55.5M	-70.2M	543.4M	-1.33B	416.4M	-118.7M	-66.9M
Working Capital Changes	125M	-124.2M	28.8M	167.6M	-78.4M	76.5M	-190.8M	-446.3M	402.9M	-128.6M
Capital Expenditures+	-547.8M	-660.1M	-824.1M	-573.6M	-635.5M	-650.5M	-778.5M	-1.05B	-1.18B	-1.09B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-500.1M	-620.4M	-821.9M	-576M	-624.7M	-654.9M	-832.5M	-96.4M	-1.27B	-1.16B
Acquisitions	0	38.8M	1.5M	-2.5M	18.5M	0	35M	0	0	0
Purchase of Investments	0	0	-8.5M	0	0	0	0	0	0	0
Sale of Investments	1000K	1000K	1000K	0	0	0	0	1000K	0	0
Other Investing	2.5M	-37.9M	-800K	100K	-7.7M	-4.4M	-89M	-112.7M	-93.9M	-70.3M
Cash from Financing+	-295.6M	-99.1M	51.5M	-295.2M	-151.1M	-56.8M	1.06B	-767.9M	-48.1M	348.8M
Dividends Paid	-204.6M	-225.1M	-247.6M	-272.2M	-299.2M	-314.9M	-324.9M	-329.3M	-333.2M	-338.5M
Dividend Payout Ratio %	0.75%	0.67%	0.4%	0.64%	0.69%	-	0.44%	0.49%	0.8%	0%
Debt Issuance (Net)	-1000K	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	1000K	1000K
Stock Issued	7.2M	0	0	0	0	0	0	0	0	17.1M
Share Repurchases	0	0	-100K	0	0	-14.7M	0	0	0	0
Other Financing	-1.7M	-100K	0	-500K	-10.3M	-7.2M	-3.4M	-900K	-2.3M	-6.1M
Net Change in Cash+	69.7M	-74.9M	14.1M	79.9M	-94.3M	1.1M	-1.1M	88.1M	-87.9M	400K
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	5.5M	75.2M	300K	14.4M	94.3M	0	1.1M	0	88.1M	200K
Cash at End	75.2M	300K	14.4M	94.3M	0	1.1M	0	88.1M	200K	600K
Free Cash Flow+	319.3M	-15.4M	-39.6M	377.5M	46M	62.3M	-1.01B	-98.5M	54.1M	-278.1M
FCF Growth %	1.1%	-1.05%	-1.57%	10.53%	-0.88%	0.35%	-17.19%	0.9%	1.55%	-6.14%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.26%	9.99%	16.97%	10.83%	10.65%	-4.47%	19.18%	15.72%	9.34%	9.65%
EBITDA Margin	35.92%	36.56%	35.11%	35.73%	38.51%	43.04%	26.28%	32.89%	43.26%	43.04%
Net Debt / EBITDA	3.38x	3.47x	3.97x	3.76x	3.85x	3.93x	5.19x	4.02x	4.18x	4.30x
Interest Coverage	3.14x	3.36x	3.15x	2.92x	3.35x	3.26x	3.36x	3.91x	2.85x	2.93x
CapEx / Revenue	24.94%	29.22%	36.45%	25.27%	28.48%	30.65%	21.31%	31.13%	44.06%	36.54%
Dividend Payout Ratio	75.41%	66.56%	40%	63.97%	69%	-	44.07%	49.47%	79.94%	0.34%
Debt / Equity	0.82x	0.83x	0.82x	0.79x	0.80x	0.99x	1.23x	1.03x	1.07x	1.19x
EPS Growth	-31.31%	24.26%	83.43%	-31.61%	1.89%	-140.28%	522.99%	-9.78%	-37.65%	5.8%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Electric Utility	2.2B	2.26B	2.26B	2.27B	2.23B	2.12B	3.65B	3.38B	2.67B	2.99B
Electric Utility Growth	-	2.84%	0.08%	0.41%	-1.70%	-4.90%	72.16%	-7.61%	-20.78%	11.63%

Frequently Asked Questions

Valuation & Price

OGE Energy Corp. (OGE) has a price-to-earnings (P/E) ratio of 20.0x. This is roughly in line with market averages.

Growth & Financials

OGE Energy Corp. (OGE) reported $3.29B in revenue for fiscal year 2024. This represents a 16% decrease from $3.92B in 2011.

OGE Energy Corp. (OGE) grew revenue by 11.6% over the past year. This is steady growth.

Yes, OGE Energy Corp. (OGE) is profitable, generating $503.4M in net income for fiscal year 2024 (14.8% net margin).

Dividend & Returns

OGE Energy Corp. (OGE) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

OGE Energy Corp. (OGE) has a return on equity (ROE) of 9.6%. This is below average, suggesting room for improvement.

OGE Energy Corp. (OGE) generated $585.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

OGE Energy Corp. (OGE) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

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