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 revenue.

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	0.9%	1.0%	1.7%	2.6%	2.4%
Short Term Investments	1.0%	1.1%	1.1%	1.0%	1.3%
Accounts Receivable	13.1%	13.3%	12.9%	13.1%	11.6%
Prepaid Expenses	1.0%	1.4%	1.4%	0.9%	0.8%
Total Current Assets	27.7%	29.4%	32.0%	48.0%	46.5%
Property,Plant and Equipment	551.2%	3.6%	404.0%	363.0%	393.1%
Operating Lease Assets	3.0%	2.9%	3.3%	3.3%	3.4%
Goodwill	0.2%	0.3%	0.3%	0.3%	0.3%
Intangible Assets	0.0%	0.0%	0.0%	0.0%	0.0%
Long Term Investments	5.7%	5.4%	5.7%	6.5%	8.6%
Other Noncurrent Assets	73.3%	75.4%	19.1%	18.9%	26.2%
Total Assets	523.2%	522.7%	509.3%	475.9%	522.1%
Liabilities
Accounts Payable	15.7%	13.4%	10.7%	13.3%	12.2%
Accrued Liabilities	8.7%	7.6%	6.6%	6.4%	8.2%
Deferred Revenue	2.3%	2.3%	—	—	—
Current Portion of Long Term Debt	14.6%	16.9%	13.1%	10.2%	12.8%
Operating Lease Liabilities	0.5%	0.5%	0.6%	0.6%	0.6%
Other Current Liabilities	8.7%	7.6%	6.6%	6.4%	8.2%
Total Current Liabilities	60.9%	66.0%	61.0%	74.2%	74.0%
Long Term Debt	201.7%	199.3%	198.4%	171.2%	186.4%
Operating Lease Liabilities Noncurrent	2.6%	2.6%	2.7%	2.8%	2.9%
Deferred Tax Liabilities	50.1%	64.0%	66.5%	60.6%	68.4%
Other Noncurrent Liabilities	4.1%	4.1%	2.9%	3.1%	3.6%
Total Liabilities	375.8%	385.7%	375.9%	352.9%	386.8%
Equity
Common Stock	16.1%	17.6%	18.1%	17.4%	20.3%
Additional Paid In Capital	55.5%	48.7%	47.8%	41.0%	42.7%
Retained Earnings	70.6%	70.3%	67.4%	62.9%	69.5%
Treasury Stock	0.0%	0.0%	0.0%	0.1%	0.2%
Accumulated Other Comprehensive Income	0.2%	-0.0%	-0.3%	0.4%	1.1%
Noncontrolling Interest	4.9%	0.2%	0.2%	1.2%	1.5%
Total Stockholders Equity	142.3%	136.6%	133.0%	121.7%	133.6%
Total Liabilitiesand Equity	523.2%	522.7%	509.3%	475.9%	522.1%

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	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	75.7%	78.2%	81.3%	82.3%	—
Expenses Depreciation and Amortization	15.2%	16.0%	15.4%	15.6%	16.2%
Expenses Share Based Compensation	0.2%	0.3%	0.3%	0.3%	—
Expenses Operating Expenses	75.7%	78.2%	81.3%	82.3%	79.7%
Other Income Expense Operating Income	24.3%	21.8%	18.7%	17.7%	20.3%
Other Income Expense Interest Expense	9.3%	9.4%	9.5%	7.1%	7.1%
Other Income Expense Other Income/expense	0.2%	0.3%	0.3%	0.1%	0.2%
Other Income Expense Income Before Tax	17.5%	14.9%	11.9%	11.8%	15.5%
Income Tax Income Tax Expense	0.6%	-0.2%	0.3%	0.0%	0.7%
net Income net Income	16.9%	15.1%	11.7%	11.7%	14.8%
net Income Comprehensive Income	16.5%	15.3%	10.9%	11.2%	16.4%
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	2.4%	2.7%	2.7%	2.6%	3.0%
Earnings Per Share Weighted Average Shares Diluted	2.5%	2.7%	2.7%	2.6%	3.0%

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	16.9%	15.1%	11.7%	11.7%	14.8%
Operating Activities Depreciation and Amortization	15.2%	16.0%	15.4%	15.6%	16.2%
Operating Activities Stock Based Compensation	0.2%	0.3%	0.3%	0.3%	—
Operating Activities Deferred Income Taxes	1.4%	0.3%	1.0%	-0.7%	0.6%
Operating Activities Changes In Operating Assets and Liabilities	1.8%	0.3%	0.1%	7.6%	-0.6%
Operating Activities net Cash From Operating Activities	31.7%	34.5%	26.4%	26.9%	22.9%
Investing Activities Purchases of Investments	13.6%	14.8%	15.1%	14.2%	11.6%
Investing Activities Other Investing Activities	-0.5%	-0.7%	-0.6%	-0.3%	-0.2%
Investing Activities net Cash From Investing Activities	-54.6%	-38.5%	-33.0%	-39.5%	-38.3%
Financing Activities Proceeds From Debt	37.8%	25.9%	28.8%	23.7%	38.6%
Financing Activities Repayment of Debt	16.7%	13.6%	11.6%	11.9%	17.8%
Financing Activities Dividends Paid	9.2%	9.6%	9.2%	8.4%	-9.0%
Financing Activities Proceeds From Stock Issuance	3.5%	2.8%	5.3%	4.2%	3.6%
Financing Activities Other Financing Activities	-0.0%	-0.3%	-0.4%	-0.5%	-0.2%
Financing Activities net Cash From Financing Activities	22.9%	3.3%	5.7%	13.1%	15.5%
Cash Reconciliation Effect of Exchange Rate On Cash	1.2%	1.2%	2.0%	2.8%	2.7%
Cash Reconciliation net Change In Cash	0.1%	-0.7%	-0.9%	0.5%	0.1%
Cash Reconciliation Cash At Beginning of Period	1.2%	1.2%	2.0%	2.8%	2.7%
Cash Reconciliation Cash At End of Period	1.2%	1.2%	2.0%	2.8%	2.7%

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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