NRG Energy

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

                    Revenue
                    FY2025
                
$30.7B
                    3y CAGR -0.9%
                    
                    P20
                    
                    +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 +0.6%
                    
                    P90
                    
                    -17.0%

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

21 accounts · 10 years

Total assets $29.1B

Total liabilities $27.5B

Shareholders equity $1.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	$4.7B 386.4%	$974.0M 72.4%	$565.0M 20.2%	$470.0M 77.4%	$265.0M -93.2%	$3.9B 1007.9%	$353.0M -39.1%	$580.0M -61.3%	$1.5B -38.0%	$2.4B
Accounts Receivable	$4.1B 16.5%	$3.5B -1.5%	$3.5B -25.8%	$4.8B 21.3%	$3.9B 335.2%	$904.0M -11.8%	$1.0B 0.1%	$1.0B -5.1%	$1.1B -7.5%	$1.2B
Other Current Assets	$4.3B -3.5%	$4.5B -19.9%	$5.6B -48.9%	$11.0B 65.4%	$6.6B 447.6%	$1.2B -29.1%	$1.7B -14.3%	$2.0B 15.9%	$1.7B -38.7%	$2.8B
Total Current Assets	$13.1B 46.7%	$9.0B -7.8%	$9.7B -40.1%	$16.2B 49.7%	$10.8B 79.8%	$6.0B 95.2%	$3.1B -14.2%	$3.6B -18.5%	$4.4B -31.0%	$6.4B
Property,Plant and Equipment	$3.6B 79.7%	$2.0B 14.6%	$1.8B 4.2%	$1.7B 0.2%	$1.7B -33.7%	$2.5B -1.8%	$2.6B -14.9%	$3.0B -78.1%	$13.9B -22.4%	$17.9B
Other Noncurrent Assets	$12.4B -5.2%	$13.0B -10.4%	$14.5B 29.6%	$11.2B 5.4%	$10.7B 68.4%	$6.3B -7.6%	$6.8B 56.3%	$4.4B -12.2%	$5.0B -17.4%	$6.0B
Total Assets	$29.1B 21.3%	$24.0B -7.7%	$26.0B -10.7%	$29.1B 25.7%	$23.2B 55.6%	$14.9B 18.9%	$12.5B 17.9%	$10.6B -54.4%	$23.3B -23.2%	$30.4B
Liabilities
Current Portion of Long Term Debt	$31.0M -96.9%	$996.0M 60.6%	$620.0M 884.1%	$63.0M 1475.0%	$4.0M 300.0%	$1.0M -98.9%	$88.0M 22.2%	$72.0M -89.5%	$688.0M -43.6%	$1.2B
Other Current Liabilities	$8.0B 2.3%	$7.8B -12.0%	$8.9B -31.3%	$12.9B 63.3%	$7.9B 313.3%	$1.9B -15.7%	$2.3B -2.4%	$2.3B -11.5%	$2.6B -16.9%	$3.2B
Total Current Liabilities	$8.0B -8.9%	$8.8B -7.2%	$9.5B -26.8%	$13.0B 64.0%	$7.9B 313.3%	$1.9B -18.8%	$2.4B -1.6%	$2.4B -27.7%	$3.3B -24.3%	$4.4B
Long Term Debt	$16.4B 67.3%	$9.8B -3.2%	$10.1B 27.0%	$8.0B 0.1%	$8.0B -8.3%	$8.7B 49.8%	$5.8B -10.0%	$6.4B -59.0%	$15.7B -12.7%	$18.0B
Other Noncurrent Liabilities	$3.0B 3.4%	$2.9B -16.6%	$3.5B -19.7%	$4.4B 17.8%	$3.7B 41.5%	$2.6B -2.8%	$2.7B 10.9%	$2.4B 8.7%	$2.2B -35.8%	$3.5B
Total Liabilities	$27.5B 27.5%	$21.5B -6.9%	$23.1B -8.6%	$25.3B 29.3%	$19.6B 48.1%	$13.2B 21.8%	$10.9B -8.4%	$11.8B -44.3%	$21.3B -17.8%	$25.9B
Equity
Total Stockholders Equity	$1.7B -32.2%	$2.5B -14.7%	$2.9B -24.1%	$3.8B 6.3%	$3.6B 114.3%	$1.7B 1.3%	$1.7B 234.4%	$-1.2B -162.7%	$2.0B -55.7%	$4.4B
Preferred Stock	$650.0M 0.0%	$650.0M 0.0%	$650.0M	$0	—	—	—	—	—	—
Common Stock	$2.0M 0.0%	$2.0M -33.3%	$3.0M -25.0%	$4.0M 0.0%	$4.0M 0.0%	$4.0M 0.0%	$4.0M 0.0%	$4.0M 0.0%	$4.0M 0.0%	$4.0M
Additional Paid In Capital	$215.0M -69.5%	$705.0M -79.4%	$3.4B -59.6%	$8.5B -0.9%	$8.5B 0.2%	$8.5B 0.2%	$8.5B -0.1%	$8.5B 1.6%	$8.4B 0.2%	$8.4B
Retained Earnings	$2.0B 29.1%	$1.5B 87.2%	$820.0M -41.8%	$1.4B 203.4%	$464.0M 133.1%	$-1.4B 13.2%	$-1.6B 73.2%	$-6.0B 3.9%	$-6.3B -65.5%	$-3.8B
Treasury Stock	$1.1B 266.0%	$297.0M -84.3%	$1.9B -67.7%	$5.9B 11.2%	$5.3B 0.8%	$5.2B 3.8%	$5.0B 38.7%	$3.6B 52.2%	$2.4B -0.5%	$2.4B
Accumulated Other Comprehensive Income	$-81.0M 30.8%	$-117.0M -28.6%	$-91.0M 48.6%	$-177.0M -40.5%	$-126.0M 38.8%	$-206.0M -7.3%	$-192.0M -104.3%	$-94.0M -30.6%	$-72.0M 46.7%	$-135.0M
Total Liabilitiesand Equity	$29.1B 21.3%	$24.0B -7.7%	$26.0B -10.7%	$29.1B 25.7%	$23.2B 55.6%	$14.9B 18.9%	$12.5B 17.9%	$10.6B -54.4%	$23.3B -23.2%	$30.4B

Income Statement

Revenue, expense, and profitability

14 accounts · 10 years

Revenue $30.7B

Operating income $1.8B

Net income $864.0M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	$30.7B 9.2%	$28.1B -2.4%	$28.8B -8.6%	$31.5B 16.9%	$27.0B 196.8%	$9.1B -7.4%	$9.8B 3.6%	$9.5B 4.5%	$9.1B 1.8%	$8.9B
Expenses Cost of Revenue	$24.8B 12.0%	$22.1B -16.6%	$26.5B -3.5%	$27.4B 34.0%	$20.5B 213.2%	$6.5B -10.4%	$7.3B 2.7%	$7.1B 3.2%	$6.9B 3.1%	$6.7B
Expenses Selling,General and Administrative	$2.6B 11.0%	$2.3B 12.0%	$2.1B 82.9%	$1.1B -11.4%	$1.3B 59.6%	$810.0M 6.6%	$760.0M -4.9%	$799.0M -4.4%	$836.0M -19.0%	$1.0B
Expenses Depreciation and Amortization	$1.4B 0.2%	$1.4B 8.3%	$1.3B 79.9%	$720.0M -8.3%	$785.0M 80.5%	$435.0M 16.6%	$373.0M -11.4%	$421.0M -29.4%	$596.0M -21.2%	$756.0M
Expenses Other Operating Expenses	$99.0M 169.7%	$-142.0M 90.1%	$-1.4B -760.4%	$217.0M -80.1%	$1.1B 436.0%	$203.0M 113.7%	$95.0M -43.5%	$168.0M -88.8%	$1.5B 258.1%	$418.0M
Other Income Expense Operating Income	$1.8B -23.9%	$2.4B 531.3%	$384.0M -81.0%	$2.0B -39.6%	$3.3B 202.4%	$1.1B -14.3%	$1.3B 31.4%	$982.0M 232.5%	$-741.0M -2345.5%	$33.0M
Other Income Expense Interest Expense	$741.0M 13.8%	$651.0M -2.4%	$667.0M 60.0%	$417.0M -14.0%	$485.0M 20.9%	$401.0M -2.9%	$413.0M -14.5%	$483.0M -13.3%	$557.0M -4.5%	$583.0M
Other Income Expense Other Income/expense	$30.0M 109.2%	$-325.0M -564.3%	$70.0M 12.9%	$62.0M 1966.7%	$3.0M -94.7%	$57.0M 162.6%	$-91.0M -184.4%	$-32.0M 64.8%	$-91.0M 76.1%	$-381.0M
Other Income Expense Income Before Tax	$1.1B -21.7%	$1.4B 779.8%	$-213.0M -112.8%	$1.7B -41.8%	$2.9B 275.7%	$761.0M -3.2%	$786.0M 68.3%	$467.0M 133.6%	$-1.4B -49.2%	$-931.0M
Income Tax Income Tax Expense	$270.0M -16.4%	$323.0M 3036.4%	$-11.0M -102.5%	$442.0M -34.2%	$672.0M 167.7%	$251.0M 107.5%	$-3.3B -47728.6%	$7.0M 115.9%	$-44.0M -276.0%	$25.0M
net Income net Income	$864.0M -23.2%	$1.1B 656.9%	$-202.0M -116.5%	$1.2B -44.2%	$2.2B 328.8%	$510.0M -88.5%	$4.4B 1556.0%	$268.0M 112.4%	$-2.2B -178.2%	$-774.0M
Earnings Per Share Basic Eps	$4 -20.4%	$5 558.9%	$-1 -121.7%	$5 -42.1%	$9 329.3%	$2 -87.7%	$17 1825.0%	$1 113.0%	$-7 -205.9%	$-2
Earnings Per Share Diluted Eps	$4 -19.6%	$5 545.5%	$-1 -121.7%	$5 -42.1%	$9 331.4%	$2 -87.7%	$17 1832.2%	$1 112.8%	$-7 -205.9%	$-2
Earnings Per Share Weighted Average Shares Diluted	$199.0M -6.1%	$212.0M -7.0%	$228.0M -3.4%	$236.0M -3.7%	$245.0M -0.4%	$246.0M -6.8%	$264.0M -14.3%	$308.0M -2.8%	$317.0M 0.3%	$316.0M

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 10 years

Operating cash flow $1.9B

Investing cash flow $-1.6B

Financing cash flow $3.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	$1.9B -17.0%	$2.3B 1143.4%	$-221.0M -161.4%	$360.0M -27.0%	$493.0M -73.2%	$1.8B 30.0%	$1.4B 2.6%	$1.4B -14.5%	$1.6B -15.6%	$1.9B
Operating Activities net Income	$864.0M -23.2%	$1.1B 656.9%	$-202.0M -116.5%	$1.2B -44.2%	$2.2B 328.8%	$510.0M -88.5%	$4.4B 1557.1%	$268.0M 111.5%	$-2.3B -162.3%	$-891.0M
Operating Activities Depreciation and Amortization	$1.5B -0.3%	$1.5B 5.3%	$1.4B 63.1%	$878.0M -1.5%	$891.0M 76.4%	$505.0M 13.5%	$445.0M -9.6%	$492.0M -24.3%	$650.0M 855.9%	$68.0M
Operating Activities Stock Based Compensation	$134.0M 31.4%	$102.0M 1.0%	$101.0M 260.7%	$28.0M 33.3%	$21.0M -4.5%	$22.0M 10.0%	$20.0M -20.0%	$25.0M -28.6%	$35.0M 250.0%	$10.0M
Operating Activities Other Non Cash Items	$-588.0M -37.1%	$-429.0M 72.4%	$-1.6B 12.2%	$-1.8B 32.2%	$-2.6B -425.8%	$800.0M 125.2%	$-3.2B -893.0%	$400.0M -82.4%	$2.3B 12.7%	$2.0B
Investing Activities Capital Expenditures	$-1.7B -241.8%	$-510.0M 83.7%	$-3.1B -627.5%	$-429.0M 88.8%	$-3.8B -644.7%	$-514.0M 11.8%	$-583.0M 7.6%	$-631.0M -135.4%	$-268.0M 50.7%	$-544.0M
Investing Activities Other Investing Activities	$105.0M -78.4%	$486.0M -78.0%	$2.2B 2179.4%	$97.0M -87.7%	$789.0M 3845.0%	$20.0M -98.2%	$1.1B -0.9%	$1.2B 89.3%	$608.0M 385.4%	$-213.0M
Investing Activities net Cash From Investing Activities	$-1.6B -6725.0%	$-24.0M 97.4%	$-910.0M -174.1%	$-332.0M 89.1%	$-3.0B -515.2%	$-494.0M -188.8%	$556.0M 371.2%	$-205.0M 67.9%	$-639.0M 15.6%	$-757.0M
Financing Activities Proceeds From Debt	$8.3B 94.1%	$4.2B 13.3%	$3.8B	$0 -100.0%	$2.5B -22.2%	$3.2B 76.4%	$1.8B 66.6%	$1.1B -6.6%	$1.2B -73.3%	$4.4B
Financing Activities Repayment of Debt	$-2.6B 40.1%	$-4.3B -21.5%	$-3.5B -70760.0%	$-5.0M 99.8%	$-3.3B -683.7%	$-418.0M 83.2%	$-2.5B -43.5%	$-1.7B 8.0%	$-1.9B 63.4%	$-5.1B
Financing Activities Dividends Paid	$-411.0M -1.5%	$-405.0M -6.3%	$-381.0M -14.8%	$-332.0M -4.1%	$-319.0M -8.1%	$-295.0M -821.9%	$-32.0M 13.5%	$-37.0M 2.6%	$-38.0M 50.0%	$-76.0M
Financing Activities Repurchase of Common Stock	$-1.3B -40.2%	$-935.0M 18.7%	$-1.1B -91.7%	$-600.0M -1150.0%	$-48.0M 79.0%	$-229.0M 84.1%	$-1.4B -15.2%	$-1.2B	$0	$0
Financing Activities Other Financing Activities	$-403.0M -11.9%	$-360.0M -139.0%	$923.0M -53.4%	$2.0B 131.3%	$856.0M 1072.7%	$-88.0M -37.5%	$-64.0M 15.8%	$-76.0M 66.2%	$-225.0M -635.7%	$42.0M
Financing Activities net Cash From Financing Activities	$3.5B 302.1%	$-1.8B -338.8%	$-400.0M -138.4%	$1.0B 483.5%	$-272.0M -112.3%	$2.2B 202.6%	$-2.1B -40.8%	$-1.5B -34.1%	$-1.1B -48.2%	$-768.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$4.0M 233.3%	$-3.0M -250.0%	$2.0M 166.7%	$-3.0M -50.0%	$-2.0M 0.0%	$-2.0M	$0 -100.0%	$1.0M 200.0%	$-1.0M -200.0%	$1.0M
Cash Reconciliation net Change In Cash	$3.8B 630.0%	$524.0M 134.3%	$-1.5B -243.2%	$1.1B 137.9%	$-2.8B -179.5%	$3.5B 1654.8%	$-228.0M 51.8%	$-473.0M -309.3%	$226.0M 224.2%	$-182.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+19.4%	+21.4%	+8.1%	+13.0%	+24.1%	+28.1%	+25.6%	+25.0%	+24.1%	+25.1%
Operating margin	+6.0%	+8.6%	+1.3%	+6.4%	+12.4%	+12.2%	+13.1%	+10.4%	-8.2%	+0.4%
Net margin	+2.8%	+4.0%	-0.7%	+3.9%	+8.1%	+5.6%	+45.2%	+2.8%	-23.7%	-8.7%
FCF margin	+0.6%	+6.4%	-11.6%	-0.2%	-12.4%	+14.5%	+8.5%	+7.9%	+14.8%	+15.3%
Growth
Revenue CAGR (3y)	-0.9%	+1.4%	+46.9%	+47.5%	+41.7%	+0.1%	+3.3%	-8.4%	-17.0%	-7.6%
Returns
ROE	+51.4%	+45.4%	-7.0%	+31.9%	+60.8%	+30.4%	+267.7%	-21.7%	-109.4%	-17.4%
ROA	+3.0%	+4.7%	-0.8%	+4.2%	+9.4%	+3.4%	+35.4%	+2.5%	-9.2%	-2.5%
ROIC	+10.5%	+15.3%	+2.9%	+13.0%	+22.6%	+11.5%	+17.9%	+20.5%	-4.4%	+0.2%
Liquidity
Current ratio	1.64x	1.02x	1.02x	1.25x	1.37x	3.15x	1.31x	1.50x	1.33x	1.46x
Quick ratio	1.10x	0.51x	0.43x	0.40x	0.53x	2.51x	0.58x	0.67x	0.78x	0.82x
Leverage
D/E	16.33x	8.69x	7.96x	6.61x	5.44x	7.87x	6.55x	-9.60x	10.81x	5.82x
Interest coverage	2.49x	3.72x	0.58x	4.84x	6.89x	2.76x	3.12x	2.03x	-1.33x	0.06x
Efficiency
Asset turnover	1.05x	1.17x	1.11x	1.08x	1.16x	0.61x	0.78x	0.89x	0.39x	0.29x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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NRG Energy

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