American Electric Power

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

                    Revenue
                    FY2025
                
$21.9B
                    3y CAGR +3.7%
                    
                    P57
                    
                    +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
                    FCF margin -22.7%
                    
                    P24
                    
                    +2.1%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

23 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	+5.9%	-22.3%	-20.3%	+10.8%	—
Accounts Receivable	+8.9%	+7.5%	-8.3%	+37.4%	—
Other Current Assets	+0.0%	-11.4%	-9.6%	-35.3%	—
Total Current Assets	+4.5%	-4.8%	-10.2%	-13.2%	—
Property,Plant and Equipment	+12.1%	+7.5%	+4.6%	+11.1%	—
Regulatory Assets	+1.0%	+4.7%	+4.2%	+10.9%	—
Other Noncurrent Assets	+12.0%	+8.4%	+96.1%	-9.3%	—
Total Assets	+11.0%	+6.6%	+3.5%	+6.5%	—
Liabilities
Current Portion of Long Term Debt	-19.7%	+10.1%	-19.4%	+38.4%	—
Other Current Liabilities	+20.4%	+14.2%	-6.1%	-12.9%	—
Total Current Liabilities	+2.3%	+12.3%	-12.7%	+6.8%	—
Long Term Debt	+12.3%	+4.4%	+9.7%	+9.6%	—
Regulatory Liabilities	+0.2%	+2.0%	+0.8%	-6.6%	—
Other Noncurrent Liabilities	+6.5%	+10.4%	+2.9%	+8.0%	—
Total Liabilities	+8.1%	+6.6%	+3.1%	+6.6%	—
Equity
Total Stockholders Equity	+15.6%	+6.7%	+5.7%	+6.5%	—
Common Stock	+1.5%	+1.3%	+0.4%	+0.1%	—
Additional Paid In Capital	+26.4%	+5.9%	+12.7%	+12.2%	—
Retained Earnings	+11.3%	+8.3%	+3.7%	+5.8%	—
Accumulated Other Comprehensive Income	+1300.0%	+94.6%	-166.3%	-54.7%	—
Noncontrolling Interest	+2471.4%	+7.1%	-82.9%	-7.3%	—
Temporary Equity and Other	+0.0%	-10.6%	-7.4%	+6.0%	—
Total Liabilitiesand Equity	+11.0%	+6.6%	+3.5%	+6.5%	—

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $21.9B

Operating income $5.3B

Net income $3.7B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+10.9%	+3.9%	-3.3%	-41.5%	—
Expenses Cost of Revenue	+18.4%	-9.8%	-7.3%	—	—
Expenses Selling,General and Administrative	+13.1%	+3.8%	+2.1%	+11.4%	—
Expenses Depreciation and Amortization	+2.7%	+6.5%	-3.5%	—	—
Expenses Other Operating Expenses	-4.5%	+8.6%	-2.7%	+16.5%	—
Other Income Expense Operating Income	+23.6%	+21.0%	+2.1%	+2.1%	—
Other Income Expense Interest Expense	+8.7%	+3.1%	+29.4%	+16.4%	—
Other Income Expense Other Income/expense	+7.2%	-12.6%	+37.8%	+11.4%	—
Other Income Expense Income Before Tax	+31.0%	+28.7%	-8.7%	-3.6%	—
Income Tax Income Tax Expense	+430.8%	-170.9%	+918.5%	-95.3%	—
net Income Other Items Below Tax	+7.4%	+59.3%	+154.7%	+96.1%	—
net Income net Income	+24.2%	+34.5%	-4.0%	-7.3%	—
Earnings Per Share Diluted Eps	+19.4%	+31.6%	-5.6%	-9.5%	—
Earnings Per Share Weighted Average Shares Basic	+0.8%	+2.2%	+1.4%	+2.3%	—
Earnings Per Share Weighted Average Shares Diluted	+1.2%	+2.1%	+1.3%	+2.3%	—

Cash Flow Statement

Operating, investing, and financing flows

13 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 Cash From Operating Activities	+2.1%	+35.8%	-5.2%	+37.7%	—
Operating Activities net Income	+24.2%	+34.5%	-4.0%	-7.3%	—
Operating Activities Depreciation and Amortization	+2.8%	+6.5%	-3.0%	+7.9%	—
Operating Activities Other Non Cash Items	-155.4%	+212.1%	-27.9%	+82.1%	—
Investing Activities Capital Expenditures	-48.3%	-6.6%	+4.4%	-39.2%	—
Investing Activities Other Investing Activities	-107.6%	-65.7%	+895.3%	+1891.5%	—
Investing Activities net Cash From Investing Activities	-57.2%	-21.2%	+19.2%	-20.5%	—
Financing Activities Proceeds From Debt	+46.9%	-10.6%	+19.1%	-30.4%	—
Financing Activities Repayment of Debt	-20.9%	-6.7%	+6.8%	+4.8%	—
Financing Activities Dividends Paid	-5.8%	-8.3%	-6.5%	-208.3%	—
Financing Activities Other Financing Activities	+737.4%	+208.4%	-113.1%	+3212.2%	—
Financing Activities net Cash From Financing Activities	+661.3%	-38.8%	-58.1%	-1.5%	—
Cash Reconciliation net Change In Cash	+116.5%	+25.3%	-269.4%	+702.3%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+67.9%	+69.9%	+65.3%	+63.9%	—
Operating margin	+24.3%	+21.8%	+18.7%	+17.7%	+10.2%
Net margin	+16.9%	+15.1%	+11.7%	+11.7%	+7.4%
FCF margin	-22.7%	-6.2%	-13.3%	-13.2%	-5.4%
Growth
Revenue CAGR (3y)	+3.7%	-16.3%	-14.0%	-14.2%	+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	+6.5%	+6.0%	+5.1%	+5.4%	+5.6%
Liquidity
Current ratio	0.45x	0.44x	0.53x	0.51x	0.63x
Quick ratio	0.25x	0.24x	0.26x	0.26x	0.21x
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	0.38x
Cash conversion cycle	—	—	—	—	—

Valuation

Price against fundamentals

AEP $133 · 2026-04-02 · 212d old · FY2025

Market cap $71.3B

P/E 19.29x

P/S 3.26x

P/B 2.29x

EV $119.7B

EV/EBITDA 13.75x

FCF yield -7.0%

Dividend yield +2.8%

Notes

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