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

Balance Sheet

Assets, liabilities, and equity

32 accounts · 3 years

Total assets $114.5B

Total liabilities $82.2B

Shareholders equity $31.1B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$197.0M -2.9%	$202.9M -38.5%	$330.1M
Short Term Investments	$220.0M 2.1%	$215.4M 0.5%	$214.3M
Accounts Receivable	$2.9B 8.9%	$2.6B 7.5%	$2.4B
Prepaid Expenses	$212.0M -25.8%	$285.9M 4.3%	$274.2M
Total Current Assets	$6.1B 4.5%	$5.8B -4.8%	$6.1B
Property,Plant and Equipment	$120.6B 16766.6%	$714.9M -99.1%	$76.7B
Operating Lease Assets	$661.0M 13.9%	$580.1M -6.5%	$620.2M
Goodwill	$53.0M 1.0%	$52.5M 0.0%	$52.5M
Intangible Assets	$0	$0	$0
Long Term Investments	$1.3B 18.6%	$1.1B -1.6%	$1.1B
Other Noncurrent Assets	$16.0B 7.8%	$14.9B 310.2%	$3.6B
Total Assets	$114.5B 11.0%	$103.1B 6.6%	$96.7B
Liabilities
Accounts Payable	$3.4B 30.0%	$2.6B 29.8%	$2.0B
Accrued Liabilities	$1.9B 27.3%	$1.5B 19.2%	$1.3B
Deferred Revenue	$507.0M 11.5%	$454.7M	—
Current Portion of Long Term Debt	$3.2B -4.2%	$3.3B 33.9%	$2.5B
Operating Lease Liabilities	$100.0M 8.8%	$91.9M -20.6%	$115.7M
Other Current Liabilities	$1.9B 27.3%	$1.5B 19.2%	$1.3B
Total Current Liabilities	$13.3B 2.3%	$13.0B 12.3%	$11.6B
Long Term Debt	$44.1B 12.3%	$39.3B 4.4%	$37.7B
Operating Lease Liabilities Noncurrent	$578.0M 14.6%	$504.3M -2.9%	$519.4M
Deferred Tax Liabilities	$11.0B -13.3%	$12.6B -0.1%	$12.6B
Other Noncurrent Liabilities	$905.0M 13.0%	$800.6M 46.7%	$545.8M
Total Liabilities	$82.2B 8.1%	$76.1B 6.6%	$71.4B
Equity
Common Stock	$3.5B 1.5%	$3.5B 1.3%	$3.4B
Additional Paid In Capital	$12.1B 26.4%	$9.6B 5.9%	$9.1B
Retained Earnings	$15.4B 11.3%	$13.9B 8.3%	$12.8B
Treasury Stock	$1.2M 0.0%	$1.2M 0.2%	$1.2M
Accumulated Other Comprehensive Income	$36.0M 1261.3%	$-3.1M 94.4%	$-55.5M
Noncontrolling Interest	$1.1B 2453.2%	$42.3M 7.9%	$39.2M
Total Stockholders Equity	$31.1B 15.6%	$26.9B 6.7%	$25.2B
Total Liabilitiesand Equity	$114.5B 11.0%	$103.1B 6.6%	$96.7B

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $21.9B

Operating income $5.3B

Net income $3.7B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$21.9B 10.9%	$19.7B 3.9%	$19.0B
Expenses Cost of Revenue	$16.6B 7.4%	$15.4B -0.1%	$15.4B
Expenses Depreciation and Amortization	$3.3B 5.6%	$3.1B 7.6%	$2.9B
Expenses Share Based Compensation	$53.0M 0.0%	$53.0M 3.9%	$51.0M
Expenses Operating Expenses	$16.6B 7.4%	$15.4B -0.1%	$15.4B
Other Income Expense Operating Income	$5.3B 23.6%	$4.3B 21.0%	$3.6B
Other Income Expense Interest Expense	$2.0B 8.7%	$1.9B 3.1%	$1.8B
Other Income Expense Other Income/expense	$48.0M -26.2%	$65.0M 1.6%	$64.0M
Other Income Expense Income Before Tax	$3.8B 30.2%	$2.9B 29.5%	$2.3B
Income Tax Income Tax Expense	$129.0M 430.8%	$-39.0M -170.9%	$55.0M
net Income net Income	$3.7B 24.2%	$3.0B 34.5%	$2.2B
net Income Comprehensive Income	$3.6B 19.9%	$3.0B 45.9%	$2.1B
Earnings Per Share Basic Eps	$7 19.6%	$6 31.5%	$4
Earnings Per Share Diluted Eps	$7 19.4%	$6 31.6%	$4
Earnings Per Share Weighted Average Shares Basic	$534.5M 0.8%	$530.1M 2.2%	$518.9M
Earnings Per Share Weighted Average Shares Diluted	$537.5M 1.2%	$531.3M 2.1%	$520.2M

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $6.9B

Investing cash flow $-11.9B

Financing cash flow $5.0B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$3.7B 24.2%	$3.0B 34.5%	$2.2B
Operating Activities Depreciation and Amortization	$3.3B 5.6%	$3.1B 7.6%	$2.9B
Operating Activities Stock Based Compensation	$53.0M 0.0%	$53.0M 3.9%	$51.0M
Operating Activities Deferred Income Taxes	$311.0M 436.2%	$58.0M -68.6%	$185.0M
Operating Activities Changes In Operating Assets and Liabilities	$383.0M 455.1%	$69.0M 360.0%	$15.0M
Operating Activities net Cash From Operating Activities	$6.9B 2.1%	$6.8B 35.8%	$5.0B
Investing Activities Purchases of Investments	$3.0B 2.0%	$2.9B 2.1%	$2.9B
Investing Activities Other Investing Activities	$-118.0M 17.5%	$-143.0M -17.2%	$-122.0M
Investing Activities net Cash From Investing Activities	$-11.9B -57.2%	$-7.6B -21.2%	$-6.3B
Financing Activities Proceeds From Debt	$8.3B 61.4%	$5.1B -6.3%	$5.5B
Financing Activities Repayment of Debt	$3.6B 35.9%	$2.7B 22.3%	$2.2B
Financing Activities Dividends Paid	$2.0B 5.8%	$1.9B 8.3%	$1.8B
Financing Activities Proceeds From Stock Issuance	$775.0M 40.4%	$552.0M -44.8%	$1.0B
Financing Activities Other Financing Activities	$-8.0M 84.0%	$-50.0M 37.5%	$-80.0M
Financing Activities net Cash From Financing Activities	$5.0B 661.3%	$659.0M -38.8%	$1.1B
Cash Reconciliation Effect of Exchange Rate On Cash	$268.0M 8.9%	$246.0M -35.1%	$379.0M
Cash Reconciliation net Change In Cash	$22.0M 116.5%	$-133.0M 25.3%	$-178.0M
Cash Reconciliation Cash At Beginning of Period	$268.0M 8.9%	$246.0M -35.1%	$379.0M
Cash Reconciliation Cash At End of Period	$268.0M 8.9%	$246.0M -35.1%	$379.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+24.3%	+21.8%	+18.7%
Operating margin	+24.3%	+21.8%	+18.7%
Net margin	+16.9%	+15.1%	+11.7%
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	+3.7%	+5.5%	+8.4%
Returns
ROE	+11.9%	+11.0%	+8.8%
ROA	+3.2%	+2.9%	+2.3%
ROIC	+6.6%	+6.2%	+5.3%
Liquidity
Current ratio	0.45x	0.44x	0.53x
Quick ratio	0.23x	0.22x	0.24x
Leverage
D/E	2.64x	2.82x	2.83x
Interest coverage	2.63x	2.31x	1.97x
Efficiency
Asset turnover	0.19x	0.19x	0.20x
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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