Ameren

Utilities Multi-Utilities St. Louis, Missouri Last filing Feb 18, 2026 · FY2025

                    Revenue
                    FY2025
                
$8.8B
                    3y CAGR +3.4%
                    
                    P52
                    
                    +15.4%
                    
                    Net income
                    FY2025
                
$1.5B
                    Net margin +16.6%
                    
                    P74
                    
                    +23.1%
                    
                    Total assets
                    FY2025
                
$48.5B
                    ROA +3.0%
                    
                    P71
                    
                    +8.7%
                    
                    Operating cash flow
                    FY2025
                
$3.4B
                    FCF margin -8.8%
                    
                    P67
                    
                    +21.4%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

30 accounts · 5 years

Total assets $48.5B

Total liabilities $3.9B

Shareholders equity $13.4B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$13.0M 85.7%	$7.0M -72.0%	$25.0M 150.0%	$10.0M 25.0%	$8.0M
Short Term Investments	$0	$0	$0	$0	$0
Accounts Receivable	$665.0M 26.7%	$525.0M 6.3%	$494.0M -17.7%	$600.0M 38.2%	$434.0M
Inventory	$774.0M 1.6%	$762.0M 4.0%	$733.0M 9.9%	$667.0M 12.7%	$592.0M
Prepaid Expenses	$210.0M 29.6%	$162.0M 29.6%	$125.0M -19.4%	$155.0M -32.3%	$229.0M
Other Current Assets	$210.0M 29.6%	$162.0M 29.6%	$125.0M -19.4%	$155.0M -32.3%	$229.0M
Total Current Assets	$2.6B 13.6%	$2.3B 3.8%	$2.2B -18.3%	$2.7B 35.6%	$2.0B
Property,Plant and Equipment	$39.3B 8.3%	$36.3B 7.5%	$33.8B 8.0%	$31.3B 6.8%	$29.3B
Goodwill	$411.0M 0.0%	$411.0M 0.0%	$411.0M 0.0%	$411.0M 0.0%	$411.0M
Other Noncurrent Assets	$1.2B 2.8%	$1.1B 21.9%	$921.0M 19.9%	$768.0M -13.8%	$891.0M
Total Assets	$48.5B 8.7%	$44.6B 9.2%	$40.8B 7.7%	$37.9B 6.1%	$35.7B
Liabilities
Accounts Payable	$1.3B 18.4%	$1.1B -6.8%	$1.1B -2.0%	$1.2B 5.8%	$1.1B
Accrued Liabilities	$570.0M 20.0%	$475.0M -26.7%	$648.0M -18.7%	$797.0M 79.1%	$445.0M
Deferred Revenue	$238.0M 6.7%	$223.0M 26.7%	$176.0M	—	—
Current Portion of Long Term Debt	$973.0M 206.9%	$317.0M -62.7%	$849.0M 149.7%	$340.0M -32.7%	$505.0M
Other Current Liabilities	$570.0M 20.0%	$475.0M -26.7%	$648.0M -18.7%	$797.0M 79.1%	$445.0M
Total Current Liabilities	$3.9B 14.5%	$3.4B 2.0%	$3.3B -0.6%	$3.4B 19.1%	$2.8B
Long Term Debt	$18.2B 5.5%	$17.3B 14.2%	$15.1B 10.5%	$13.7B 8.9%	$12.6B
Deferred Revenue Noncurrent	$238.0M 6.7%	$223.0M 26.7%	$176.0M	—	—
Deferred Tax Liabilities	$253.0M -94.0%	$4.2B 2.2%	$4.2B 9.8%	$3.8B 8.9%	$3.5B
Other Noncurrent Liabilities	$540.0M 10.9%	$487.0M 14.3%	$426.0M 25.3%	$340.0M -17.9%	$414.0M
Total Liabilities	$3.9B 14.5%	$3.4B 2.0%	$3.3B -0.6%	$3.4B 19.1%	$2.8B
Equity
Preferred Stock	$0	$0	$0	$0	$0
Common Stock	$3.0M 0.0%	$3.0M 0.0%	$3.0M 0.0%	$3.0M 0.0%	$3.0M
Additional Paid In Capital	$8.1B 7.9%	$7.5B 4.1%	$7.2B 5.2%	$6.9B 5.5%	$6.5B
Retained Earnings	$5.3B 14.9%	$4.6B 11.3%	$4.1B 13.4%	$3.6B 14.6%	$3.2B
Accumulated Other Comprehensive Income	$0 100.0%	$-6.0M 0.0%	$-6.0M -500.0%	$-1.0M -107.7%	$13.0M
Noncontrolling Interest	$129.0M 0.0%	$129.0M 0.0%	$129.0M 0.0%	$129.0M 0.0%	$129.0M
Total Stockholders Equity	$13.4B 10.6%	$12.1B 6.7%	$11.3B 8.0%	$10.5B 8.3%	$9.7B
Total Liabilitiesand Equity	$48.5B 8.7%	$44.6B 9.2%	$40.8B 7.7%	$37.9B 6.1%	$35.7B

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $8.8B

Operating income $2.0B

Net income $1.5B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$8.8B 15.4%	$7.6B 1.6%	$7.5B -5.7%	$8.0B 24.4%	$6.4B
Expenses Share Based Compensation	$28.0M 0.0%	$28.0M 7.7%	$26.0M 8.3%	$24.0M 9.1%	$22.0M
Expenses Operating Expenses	$6.8B 10.9%	$6.1B 2.8%	$5.9B -7.8%	$6.4B 27.3%	$5.1B
Other Income Expense Operating Income	$2.0B 33.6%	$1.5B -2.7%	$1.6B 2.8%	$1.5B 13.7%	$1.3B
Other Income Expense Interest Income	$41.0M 0.0%	$41.0M 24.2%	$33.0M -5.7%	$35.0M 29.6%	$27.0M
Other Income Expense Interest Expense	$776.0M 17.0%	$663.0M 17.1%	$566.0M 16.5%	$486.0M 26.9%	$383.0M
Other Income Expense Other Income/expense	$347.0M -16.8%	$417.0M 19.8%	$348.0M 54.0%	$226.0M 11.9%	$202.0M
Other Income Expense Income Before Tax	$1.6B 25.7%	$1.3B -5.2%	$1.3B 6.8%	$1.3B 8.9%	$1.2B
Income Tax Income Tax Expense	$136.0M 63.9%	$83.0M -54.6%	$183.0M 4.0%	$176.0M 12.1%	$157.0M
net Income net Income	$1.5B 23.1%	$1.2B 2.6%	$1.2B 7.2%	$1.1B 8.4%	$995.0M
net Income Comprehensive Income	$1.5B 23.7%	$1.2B 3.1%	$1.1B 8.2%	$1.1B 5.6%	$1.0B
Earnings Per Share Basic Eps	$5 21.4%	$4 0.9%	$4 5.5%	$4 7.8%	$4
Earnings Per Share Diluted Eps	$5 21.0%	$4 0.9%	$4 5.8%	$4 7.8%	$4
Earnings Per Share Weighted Average Shares Basic	$270.5M 1.4%	$266.8M 1.5%	$262.8M 1.7%	$258.4M 0.8%	$256.3M
Earnings Per Share Weighted Average Shares Diluted	$272.2M 1.8%	$267.4M 1.5%	$263.4M 1.5%	$259.5M 0.7%	$257.6M

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $3.4B

Investing cash flow $-4.1B

Financing cash flow $884.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$1.5B 23.1%	$1.2B 2.6%	$1.2B 7.2%	$1.1B 8.4%	$995.0M
Operating Activities Stock Based Compensation	$28.0M 0.0%	$28.0M 7.7%	$26.0M 8.3%	$24.0M 9.1%	$22.0M
Operating Activities Deferred Income Taxes	$269.0M 52.0%	$177.0M -31.9%	$260.0M 34.0%	$194.0M 14.1%	$170.0M
Operating Activities Changes In Operating Assets and Liabilities	$12.0M -61.3%	$31.0M -53.7%	$67.0M -13.0%	$77.0M 8.5%	$71.0M
Operating Activities Other Non Cash Items	$104.0M 372.7%	$22.0M -80.9%	$115.0M 121.2%	$52.0M 169.3%	$-75.0M
Operating Activities net Cash From Operating Activities	$3.4B 21.4%	$2.8B 7.8%	$2.6B 13.3%	$2.3B 36.2%	$1.7B
Investing Activities Capital Expenditures	$4.1B -4.4%	$4.3B 20.1%	$3.6B 7.3%	$3.4B -3.7%	$3.5B
Investing Activities Other Investing Activities	$-53.0M -303.8%	$26.0M 2500.0%	$1.0M 104.3%	$-23.0M -187.5%	$-8.0M
Investing Activities net Cash From Investing Activities	$-4.1B 7.0%	$-4.5B -17.3%	$-3.8B -12.7%	$-3.4B 4.5%	$-3.5B
Financing Activities Proceeds From Debt	$2.0B -22.7%	$2.5B 10.5%	$2.3B 56.4%	$1.5B -26.5%	$2.0B
Financing Activities Dividends Paid	$768.0M 7.6%	$714.0M 7.9%	$662.0M 8.5%	$610.0M 8.0%	$565.0M
Financing Activities Proceeds From Stock Issuance	$574.0M 110.3%	$273.0M -21.1%	$346.0M 3.9%	$333.0M 8.1%	$308.0M
Financing Activities Tax Withholding On Stock Based Compensation	$13.0M 62.5%	$8.0M -60.0%	$20.0M 25.0%	$16.0M -5.9%	$17.0M
Financing Activities Other Financing Activities	$0 100.0%	$-15.0M -50.0%	$-10.0M	$0 100.0%	$-13.0M
Financing Activities net Cash From Financing Activities	$884.0M -49.5%	$1.7B 35.6%	$1.3B 10.4%	$1.2B -32.1%	$1.7B
Cash Reconciliation Effect of Exchange Rate On Cash	$420.0M 28.0%	$328.0M 20.6%	$272.0M 25.9%	$216.0M 39.4%	$155.0M
Cash Reconciliation net Change In Cash	$92.0M 64.3%	$56.0M 0.0%	$56.0M -8.2%	$61.0M 141.8%	$-146.0M
Cash Reconciliation Cash At Beginning of Period	$420.0M 28.0%	$328.0M 20.6%	$272.0M 25.9%	$216.0M 39.4%	$155.0M
Cash Reconciliation Cash At End of Period	$420.0M 28.0%	$328.0M 20.6%	$272.0M 25.9%	$216.0M 39.4%	$155.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	+23.0%	+19.9%	+20.8%	+19.0%	+20.8%
Net margin	+16.6%	+15.6%	+15.4%	+13.6%	+15.6%
FCF margin	-8.8%	-20.4%	-13.8%	-13.7%	-28.4%
Growth
Revenue CAGR (3y)	+3.4%	+6.0%	+9.0%	+10.4%	+0.5%
Returns
ROE	+10.9%	+9.8%	+10.2%	+10.3%	+10.3%
ROA	+3.0%	+2.7%	+2.8%	+2.8%	+2.8%
ROIC	+5.7%	+4.8%	+4.9%	+5.3%	+5.1%
Liquidity
Current ratio	0.66x	0.66x	0.65x	0.79x	0.70x
Quick ratio	0.17x	0.16x	0.16x	0.18x	0.16x
Leverage
D/E	0.29x	0.28x	0.29x	0.32x	0.29x
Interest coverage	2.61x	2.29x	2.75x	3.12x	3.48x
Efficiency
Asset turnover	0.18x	0.17x	0.18x	0.21x	0.18x
Cash conversion cycle	—	—	—	—	—

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