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

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 3 years

Total assets $29.1B

Total liabilities $27.5B

Shareholders equity $1.7B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	15.3%	3.4%	1.9%
Short Term Investments	0.1%	0.1%	0.1%
Accounts Receivable	13.2%	12.4%	12.3%
Inventory	1.5%	1.7%	2.1%
Prepaid Expenses	3.5%	3.0%	2.2%
Other Current Assets	0.0%	0.0%	0.0%
Total Current Assets	42.8%	31.9%	33.7%
Property,Plant and Equipment	11.8%	7.2%	6.1%
Operating Lease Assets	0.4%	0.5%	0.6%
Goodwill	16.3%	17.8%	17.6%
Intangible Assets	13.0%	10.3%	13.6%
Deferred Tax Assets	6.0%	7.3%	7.8%
Other Noncurrent Assets	4.8%	4.1%	2.7%
Total Assets	94.9%	85.4%	90.3%
Liabilities
Accounts Payable	9.2%	8.9%	8.1%
Accrued Liabilities	2.6%	7.2%	5.7%
Deferred Revenue	2.4%	2.5%	2.5%
Operating Lease Liabilities	0.1%	0.2%	0.3%
Other Current Liabilities	0.0%	0.0%	0.0%
Total Current Liabilities	26.1%	31.3%	33.0%
Long Term Debt	0.5%	0.3%	38.0%
Deferred Revenue Noncurrent	2.9%	3.1%	3.2%
Operating Lease Liabilities Noncurrent	0.5%	0.4%	0.4%
Deferred Tax Liabilities	0.0%	3.9%	4.1%
Other Noncurrent Liabilities	2.8%	2.9%	3.3%
Total Liabilities	89.4%	76.6%	80.3%
Equity
Preferred Stock	2.1%	2.3%	2.3%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	0.7%	2.5%	11.9%
Retained Earnings	6.5%	5.5%	2.8%
Treasury Stock	3.5%	1.1%	6.6%
Accumulated Other Comprehensive Income	-0.3%	-0.4%	-0.3%
Total Stockholders Equity	5.5%	8.8%	10.1%
Total Liabilitiesand Equity	94.9%	85.4%	90.3%

Income Statement

Revenue, expense, and profitability

17 accounts · 3 years

Revenue $30.7B

Operating income $1.8B

Net income $864.0M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	93.9%	92.1%	104.1%
Expenses Selling,General and Administrative	8.5%	8.3%	7.3%
Expenses Depreciation and Amortization	4.6%	5.0%	4.5%
Expenses Share Based Compensation	0.4%	0.4%	0.4%
Expenses Operating Expenses	93.9%	92.1%	104.1%
Other Income Expense Operating Income	6.0%	8.6%	1.3%
Other Income Expense Interest Expense	2.4%	2.3%	2.3%
Other Income Expense Other Income/expense	0.2%	0.2%	0.2%
Other Income Expense Income Before Tax	3.7%	5.1%	-0.7%
Income Tax Income Tax Expense	0.9%	1.1%	-0.0%
net Income net Income	2.8%	4.0%	-0.7%
net Income Comprehensive Income	2.9%	3.9%	-0.6%
Earnings Per Share Basic Eps	0.0%	0.0%	-0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	-0.0%
Earnings Per Share Weighted Average Shares Basic	0.6%	0.7%	0.8%
Earnings Per Share Weighted Average Shares Diluted	0.6%	0.8%	0.8%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $1.9B

Investing cash flow $-1.6B

Financing cash flow $3.5B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	2.8%	4.0%	-0.7%
Operating Activities Depreciation and Amortization	4.6%	5.0%	4.5%
Operating Activities Stock Based Compensation	0.4%	0.4%	0.4%
Operating Activities Deferred Income Taxes	0.7%	0.6%	-0.4%
Operating Activities Changes In Operating Assets and Liabilities	5.5%	3.4%	-7.8%
Operating Activities net Cash From Operating Activities	6.2%	8.2%	-0.8%
Investing Activities Capital Expenditures	3.7%	1.7%	2.1%
Investing Activities Purchases of Investments	0.0%	0.0%	1.3%
Investing Activities net Cash From Investing Activities	-5.3%	-0.1%	-3.2%
Financing Activities Proceeds From Debt	21.7%	11.4%	2.5%
Financing Activities Repayment of Debt	3.3%	11.6%	1.8%
Financing Activities Repurchase of Common Stock	4.3%	3.3%	4.0%
Financing Activities Dividends Paid	1.3%	1.4%	1.3%
Financing Activities Tax Withholding On Stock Based Compensation	0.3%	0.2%	0.1%
Financing Activities net Cash From Financing Activities	11.5%	-6.2%	-1.4%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.0%	0.0%
Cash Reconciliation net Change In Cash	12.5%	1.9%	-5.3%
Cash Reconciliation Cash At Beginning of Period	15.3%	3.4%	1.9%
Cash Reconciliation Cash At End of Period	15.3%	3.4%	1.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+6.1%	+7.9%	-4.1%
Operating margin	+6.0%	+8.6%	+1.3%
Net margin	+2.8%	+4.0%	-0.7%
FCF margin	+2.5%	+6.5%	-2.8%
Growth
Revenue CAGR (3y)	-0.9%	+1.4%	+46.9%
Returns
ROE	+51.4%	+45.4%	-7.0%
ROA	+3.0%	+4.7%	-0.8%
ROIC	-49.0%	+117.0%	+1.6%
Liquidity
Current ratio	1.64x	1.02x	1.02x
Quick ratio	1.09x	0.51x	0.43x
Leverage
D/E	16.33x	8.69x	7.96x
Interest coverage	2.49x	3.72x	0.58x
Efficiency
Asset turnover	1.05x	1.17x	1.11x
Cash conversion cycle	+18d	+17d	+24d

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NRG Energy

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