NRG Energy

Utilities Independent Power Producers & Energy Traders Houston, Texas Last filing Feb 24, 2026 · FY2025

                    Revenue
                    FY2025
                
$30.7B
                    3y CAGR -0.9%
                    
                    P19
                    
                    +9.2%
                    
                    Net income
                    FY2025
                
$864.0M
                    Net margin +2.8%
                    
                    P3
                    
                    -23.2%
                    
                    Total assets
                    FY2025
                
$29.1B
                    ROA +3.0%
                    
                    P68
                    
                    +21.3%
                    
                    Operating cash flow
                    FY2025
                
$1.9B
                    FCF margin +2.5%
                    
                    P92
                    
                    -17.0%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 5 years

Total assets $29.1B

Total liabilities $27.5B

Shareholders equity $1.7B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+108.3%	+56.9%	+47.1%	+72.0%	—
Short Term Investments	+0.8%	-4.4%	-19.0%	-40.6%	—
Accounts Receivable	+5.8%	+2.4%	+4.5%	+47.1%	—
Inventory	-1.9%	-1.4%	+10.4%	+50.8%	—
Prepaid Expenses	+28.3%	+28.1%	+25.9%	-3.0%	—
Other Current Assets	—	—	—	—	—
Total Current Assets	+4.9%	-6.1%	-5.3%	+49.7%	—
Property,Plant and Equipment	+21.1%	+6.2%	+2.2%	+0.2%	—
Operating Lease Assets	-16.8%	-17.7%	-18.7%	-17.0%	—
Goodwill	+29.3%	+40.8%	+68.2%	-8.1%	—
Intangible Assets	+12.3%	+5.0%	+25.1%	-15.1%	—
Deferred Tax Assets	-3.8%	-1.4%	+2.2%	-12.7%	—
Other Noncurrent Assets	+59.4%	+71.0%	+84.2%	+11.8%	—
Total Assets	+5.9%	+1.2%	+6.0%	+25.7%	—
Liabilities
Accounts Payable	+5.7%	+3.4%	+1.1%	+60.2%	—
Accrued Liabilities	-11.6%	+15.3%	+11.4%	-2.6%	—
Deferred Revenue	—	—	—	—	—
Operating Lease Liabilities	-18.9%	-6.6%	+5.4%	+2.5%	—
Other Current Liabilities	—	—	—	—	—
Total Current Liabilities	+0.4%	+3.6%	+9.6%	+64.0%	—
Long Term Debt	-62.7%	-77.0%	+16.2%	+0.0%	—
Deferred Revenue Noncurrent	—	—	—	—	—
Operating Lease Liabilities Noncurrent	-11.6%	-20.9%	-26.4%	-23.7%	—
Deferred Tax Liabilities	-65.7%	-0.1%	+4.5%	+16.5%	—
Other Noncurrent Liabilities	-3.5%	-6.1%	-2.3%	-1.0%	—
Total Liabilities	+8.8%	+3.2%	+8.7%	+29.3%	—
Equity
Preferred Stock	+183.9%	+302.1%	+706.2%	+0.0%	—
Common Stock	-15.9%	-20.6%	-13.4%	+0.0%	—
Additional Paid In Capital	-60.2%	-56.4%	-36.7%	-0.9%	—
Retained Earnings	+43.8%	+49.0%	+32.9%	+203.4%	—
Treasury Stock	-32.6%	-61.7%	-40.1%	+11.2%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Total Stockholders Equity	-17.3%	-11.7%	-10.2%	+6.3%	—
Total Liabilitiesand Equity	+5.9%	+1.2%	+6.0%	+25.7%	—

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $30.7B

Operating income $1.8B

Net income $864.0M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+3.3%	+1.4%	+3.3%	+16.9%	—
Expenses Cost of Revenue	+4.8%	+2.7%	+12.1%	+23.8%	—
Expenses Selling,General and Administrative	+19.1%	+21.9%	+27.3%	-11.4%	—
Expenses Depreciation and Amortization	+15.7%	+21.4%	+28.4%	-8.3%	—
Expenses Share Based Compensation	+58.9%	+69.4%	+119.3%	+33.3%	—
Expenses Operating Expenses	+4.8%	+2.7%	+12.1%	+23.8%	—
Other Income Expense Operating Income	-13.8%	-10.1%	-66.1%	-39.6%	—
Other Income Expense Interest Expense	+11.2%	+10.3%	+17.3%	-14.0%	—
Other Income Expense Other Income/expense	+1.9%	-11.3%	-13.6%	-11.1%	—
Other Income Expense Income Before Tax	-20.6%	-20.3%	—	-41.8%	—
Income Tax Income Tax Expense	-20.4%	-21.7%	—	-34.2%	—
net Income net Income	-20.7%	-19.9%	—	-44.2%	—
net Income Comprehensive Income	-20.6%	-21.4%	—	-48.4%	—
Earnings Per Share Basic Eps	-17.7%	-16.8%	—	-42.1%	—
Earnings Per Share Diluted Eps	-18.1%	-17.6%	—	-42.1%	—
Earnings Per Share Weighted Average Shares Basic	-5.5%	-5.6%	-3.5%	-3.7%	—
Earnings Per Share Weighted Average Shares Diluted	-5.1%	-4.7%	-3.5%	-3.7%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $1.9B

Investing cash flow $-1.6B

Financing cash flow $3.5B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	-20.7%	-19.9%	—	-44.2%	—
Operating Activities Depreciation and Amortization	+15.7%	+21.4%	+28.4%	-8.3%	—
Operating Activities Stock Based Compensation	+58.9%	+69.4%	+119.3%	+33.3%	—
Operating Activities Deferred Income Taxes	-22.7%	-33.7%	—	-40.3%	—
Operating Activities Changes In Operating Assets and Liabilities	-0.9%	-17.8%	—	+82.7%	—
Operating Activities net Cash From Operating Activities	+40.4%	+67.2%	—	-27.0%	—
Investing Activities Capital Expenditures	+43.7%	+20.6%	+49.1%	+36.4%	—
Investing Activities Purchases of Investments	—	—	-30.1%	-39.5%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Proceeds From Debt	+57.0%	+42.8%	-18.5%	—	—
Financing Activities Repayment of Debt	-15.3%	+18.6%	-48.2%	+0.0%	—
Financing Activities Repurchase of Common Stock	+128.6%	+169.1%	+389.5%	+1150.0%	—
Financing Activities Dividends Paid	+6.5%	+8.3%	+9.3%	+4.1%	—
Financing Activities Tax Withholding On Stock Based Compensation	+78.8%	+77.1%	+56.3%	-33.3%	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+108.3%	+56.9%	+47.1%	+72.0%	—
Cash Reconciliation Cash At End of Period	+108.3%	+56.9%	+47.1%	+72.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+6.1%	+7.9%	-4.1%	+6.2%	+11.5%
Operating margin	+6.0%	+8.6%	+1.3%	+6.4%	+12.4%
Net margin	+2.8%	+4.0%	-0.7%	+3.9%	+8.1%
FCF margin	+2.5%	+6.5%	-2.8%	-0.0%	+0.8%
Growth
Revenue CAGR (3y)	-0.9%	+1.4%	+46.9%	+47.5%	+41.7%
Returns
ROE	+51.4%	+45.4%	-7.0%	+31.9%	+60.8%
ROA	+3.0%	+4.7%	-0.8%	+4.2%	+9.4%
ROIC	-49.0%	+117.0%	+1.6%	+7.6%	+13.1%
Liquidity
Current ratio	1.64x	1.02x	1.02x	1.25x	1.37x
Quick ratio	1.09x	0.51x	0.43x	0.40x	0.44x
Leverage
D/E	16.33x	8.69x	7.96x	6.61x	5.44x
Interest coverage	2.49x	3.72x	0.58x	4.84x	6.89x
Efficiency
Asset turnover	1.05x	1.17x	1.11x	1.08x	1.16x
Cash conversion cycle	+18d	+17d	+24d	+20d	+17d

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NRG Energy

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