American Electric Power

Utilities Electric Utilities Columbus, Ohio Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$21.9B
                    3y CAGR +3.7%
                    
                    P55
                    
                    +10.9%
                    
                    Net income
                    FY2025
                
$3.7B
                    Net margin +16.9%
                    
                    P77
                    
                    +24.2%
                    
                    Total assets
                    FY2025
                
$114.5B
                    ROA +3.2%
                    
                    P84
                    
                    +11.0%
                    
                    Operating cash flow
                    FY2025
                
$6.9B
                    
                    +2.1%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 5 years

Total assets $114.5B

Total liabilities $82.2B

Shareholders equity $31.1B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	0.2%	0.2%	0.3%	0.5%	0.5%
Short Term Investments	0.2%	0.2%	0.2%	0.2%	0.3%
Accounts Receivable	2.5%	2.6%	2.5%	2.7%	2.2%
Prepaid Expenses	0.2%	0.3%	0.3%	0.2%	0.1%
Total Current Assets	5.3%	5.6%	6.3%	10.1%	8.9%
Property,Plant and Equipment	105.3%	0.7%	79.3%	76.3%	75.3%
Operating Lease Assets	0.6%	0.6%	0.6%	0.7%	0.7%
Goodwill	0.0%	0.1%	0.1%	0.1%	0.1%
Intangible Assets	0.0%	0.0%	0.0%	0.0%	0.0%
Long Term Investments	1.1%	1.0%	1.1%	1.4%	1.7%
Other Noncurrent Assets	14.0%	14.4%	3.8%	4.0%	5.0%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	3.0%	2.6%	2.1%	2.8%	2.3%
Accrued Liabilities	1.7%	1.4%	1.3%	1.3%	1.6%
Deferred Revenue	0.4%	0.4%	—	—	—
Current Portion of Long Term Debt	2.8%	3.2%	2.6%	2.1%	2.5%
Operating Lease Liabilities	0.1%	0.1%	0.1%	0.1%	0.1%
Other Current Liabilities	1.7%	1.4%	1.3%	1.3%	1.6%
Total Current Liabilities	11.6%	12.6%	12.0%	15.6%	14.2%
Long Term Debt	38.6%	38.1%	38.9%	36.0%	35.7%
Operating Lease Liabilities Noncurrent	0.5%	0.5%	0.5%	0.6%	0.6%
Deferred Tax Liabilities	9.6%	12.2%	13.1%	12.7%	13.1%
Other Noncurrent Liabilities	0.8%	0.8%	0.6%	0.6%	0.7%
Total Liabilities	71.8%	73.8%	73.8%	74.1%	74.1%
Equity
Common Stock	3.1%	3.4%	3.5%	3.7%	3.9%
Additional Paid In Capital	10.6%	9.3%	9.4%	8.6%	8.2%
Retained Earnings	13.5%	13.5%	13.2%	13.2%	13.3%
Treasury Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Accumulated Other Comprehensive Income	0.0%	-0.0%	-0.1%	0.1%	0.2%
Noncontrolling Interest	0.9%	0.0%	0.0%	0.2%	0.3%
Total Stockholders Equity	27.2%	26.1%	26.1%	25.6%	25.6%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $21.9B

Operating income $5.3B

Net income $3.7B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	19.1%	19.1%	19.6%	21.0%	19.2%
Expenses Cost of Revenue	14.5%	15.0%	16.0%	17.3%	—
Expenses Depreciation and Amortization	2.9%	3.1%	3.0%	3.3%	3.1%
Expenses Share Based Compensation	0.0%	0.1%	0.1%	0.1%	—
Expenses Operating Expenses	14.5%	15.0%	16.0%	17.3%	15.3%
Other Income Expense Operating Income	4.6%	4.2%	3.7%	3.7%	3.9%
Other Income Expense Interest Expense	1.8%	1.8%	1.9%	1.5%	1.4%
Other Income Expense Other Income/expense	0.0%	0.1%	0.1%	0.0%	0.0%
Other Income Expense Income Before Tax	3.3%	2.8%	2.3%	2.5%	3.0%
Income Tax Income Tax Expense	0.1%	-0.0%	0.1%	0.0%	0.1%
net Income net Income	3.2%	2.9%	2.3%	2.5%	2.8%
net Income Comprehensive Income	3.2%	2.9%	2.1%	2.4%	3.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.5%	0.5%	0.5%	0.5%	0.6%
Earnings Per Share Weighted Average Shares Diluted	0.5%	0.5%	0.5%	0.5%	0.6%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $6.9B

Investing cash flow $-11.9B

Financing cash flow $5.0B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	3.2%	2.9%	2.3%	2.5%	2.8%
Operating Activities Depreciation and Amortization	2.9%	3.1%	3.0%	3.3%	3.1%
Operating Activities Stock Based Compensation	0.0%	0.1%	0.1%	0.1%	—
Operating Activities Deferred Income Taxes	0.3%	0.1%	0.2%	-0.1%	0.1%
Operating Activities Changes In Operating Assets and Liabilities	0.3%	0.1%	0.0%	1.6%	-0.1%
Operating Activities net Cash From Operating Activities	6.1%	6.6%	5.2%	5.7%	4.4%
Investing Activities Purchases of Investments	2.6%	2.8%	3.0%	3.0%	2.2%
Investing Activities Other Investing Activities	-0.1%	-0.1%	-0.1%	-0.1%	-0.0%
Investing Activities net Cash From Investing Activities	-10.4%	-7.4%	-6.5%	-8.3%	-7.3%
Financing Activities Proceeds From Debt	7.2%	5.0%	5.7%	5.0%	7.4%
Financing Activities Repayment of Debt	3.2%	2.6%	2.3%	2.5%	3.4%
Financing Activities Dividends Paid	1.8%	1.8%	1.8%	1.8%	-1.7%
Financing Activities Proceeds From Stock Issuance	0.7%	0.5%	1.0%	0.9%	0.7%
Financing Activities Other Financing Activities	-0.0%	-0.0%	-0.1%	-0.1%	-0.0%
Financing Activities net Cash From Financing Activities	4.4%	0.6%	1.1%	2.7%	3.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.2%	0.2%	0.4%	0.6%	0.5%
Cash Reconciliation net Change In Cash	0.0%	-0.1%	-0.2%	0.1%	0.0%
Cash Reconciliation Cash At Beginning of Period	0.2%	0.2%	0.4%	0.6%	0.5%
Cash Reconciliation Cash At End of Period	0.2%	0.2%	0.4%	0.6%	0.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+24.3%	+21.8%	+18.7%	+17.7%	—
Operating margin	+24.3%	+21.8%	+18.7%	+17.7%	+20.3%
Net margin	+16.9%	+15.1%	+11.7%	+11.7%	+14.8%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+3.7%	+5.5%	+8.4%	+8.1%	+1.2%
Returns
ROE	+11.9%	+11.0%	+8.8%	+9.6%	+11.1%
ROA	+3.2%	+2.9%	+2.3%	+2.5%	+2.8%
ROIC	+6.6%	+6.2%	+5.3%	+5.9%	+5.9%
Liquidity
Current ratio	0.45x	0.44x	0.53x	0.65x	0.63x
Quick ratio	0.23x	0.22x	0.24x	0.21x	0.19x
Leverage
D/E	2.64x	2.82x	2.83x	2.90x	2.90x
Interest coverage	2.63x	2.31x	1.97x	2.49x	2.84x
Efficiency
Asset turnover	0.19x	0.19x	0.20x	0.21x	0.19x
Cash conversion cycle	—	—	—	—	—

Valuation

Price against fundamentals

AEP $133 · 2026-04-02 · 166d old · FY2025

Market cap $71.3B

P/E 19.29x

P/S 3.26x

P/B 2.29x

EV $118.4B

EV/EBITDA 13.70x

FCF yield —

Dividend yield +2.8%

Notes

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