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Utilities · Independent Power and Renewable Electricity Producers · US listing · 🇺🇸 United States
S&P 500
14.90
+0.20%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$12.23bn
FY2016FY2025
Net income
$949.0m
FY2016FY2025
Free cash flow
−$1.62bn
FY2016FY2025
Shareholders' equity
$6.89bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.23bn | $12.28bn | $12.68bn | $12.62bn | $11.14bn | $9.66bn | $10.19bn | $10.74bn | $10.51bn | $10.17bn |
| Gross profit | $2.21bn | $2.32bn | $2.52bn | $2.55bn | $2.71bn | $2.69bn | $2.36bn | $2.58bn | $2.45bn | $2.33bn |
| Operating income | $1.14bn | $1.97bn | $1.41bn | $2.34bn | $2.55bn | $1.47bn | $1.56bn | $2.39bn | $1.77bn | $1.19bn |
| Net income | $949.0m | $1.69bn | $242.0m | −$546.0m | −$413.0m | $43.0m | $302.0m | $1.00bn | −$550.0m | −$11.0m |
| Diluted earnings per share | 1.33 | 2.36 | 0.36 | -0.82 | -0.62 | 0.06 | 0.45 | 1.49 | -0.83 | -0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $51.77bn | $47.41bn | $44.80bn | $38.36bn | $32.96bn | $34.60bn | $33.65bn | $32.52bn | $33.11bn | $36.12bn |
| Cash and short-term investments | $2.25bn | $1.60bn | $1.82bn | $2.10bn | $1.18bn | $1.42bn | $1.43bn | $1.48bn | $1.37bn | $2.10bn |
| Total liabilities | $39.84bn | $39.70bn | $38.81bn | $33.86bn | $28.40bn | $29.88bn | $28.42bn | $26.92bn | $28.27bn | $30.42bn |
| Debt | $29.90bn | $29.02bn | $26.88bn | $23.50bn | $18.70bn | $19.88bn | $20.17bn | $19.30bn | $19.96bn | $19.45bn |
| Shareholders' equity | $6.89bn | $3.64bn | $2.49bn | $2.44bn | $2.80bn | $2.63bn | $3.00bn | $3.21bn | $2.46bn | $2.79bn |
| Shares outstanding | 714m | 713m | 670m | 669m | 667m | 669m | 664m | 674m | 661m | 659m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $4.31bn | $2.75bn | $3.03bn | $2.71bn | $1.90bn | $2.75bn | $2.47bn | $2.34bn | $2.49bn | $2.88bn |
| Capital spending | −$5.93bn | −$7.39bn | −$7.72bn | −$4.55bn | −$2.12bn | −$1.90bn | −$2.40bn | −$2.12bn | −$2.18bn | −$2.35bn |
| Free cash flow | −$1.62bn | −$4.64bn | −$4.69bn | −$1.84bn | −$214.0m | $855.0m | $61.0m | $222.0m | $312.0m | $539.0m |
| Dividends paid | −$501.0m | −$483.0m | −$444.0m | −$422.0m | −$401.0m | −$381.0m | −$362.0m | −$344.0m | −$317.0m | −$290.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.42bn | $3.18bn | $3.10bn | $3.35bn | $2.85bn | $2.93bn | $2.96bn | $3.29bn |
| Gross profit | $692.0m | $640.0m | $582.0m | $735.0m | $454.0m | $440.0m | $420.0m | $721.0m |
| Operating income | $630.0m | $585.0m | $513.0m | $826.0m | $405.0m | $363.0m | $330.0m | $664.0m |
| Net income | $465.0m | $487.0m | $322.0m | $634.0m | −$105.0m | $46.0m | $560.0m | $509.0m |
| Diluted earnings per share | 0.65 | 0.68 | 0.45 | 0.89 | -0.15 | 0.06 | 0.79 | 0.71 |
| Cash from operations | $1.05bn | $1.20bn | $1.49bn | $1.30bn | $976.0m | $545.0m | $1.09bn | $985.0m |
| Capital spending | −$1.64bn | −$1.77bn | −$1.53bn | −$1.81bn | −$1.33bn | −$1.25bn | −$1.73bn | −$1.83bn |
| Free cash flow | −$597.0m | −$565.0m | −$47.0m | −$511.0m | −$356.0m | −$709.0m | −$639.0m | −$847.0m |
| Total assets | $54.24bn | $52.82bn | $51.77bn | $50.78bn | $48.54bn | $48.62bn | $47.41bn | $50.08bn |
| Cash and short-term investments | $1.85bn | $1.65bn | $2.25bn | $1.82bn | $1.35bn | $1.82bn | $1.60bn | $1.98bn |
| Debt | $32.12bn | $31.00bn | $29.93bn | $30.85bn | $30.27bn | $30.58bn | $29.02bn | $29.45bn |
| Shareholders' equity | $4.94bn | $4.42bn | $6.89bn | $3.87bn | $3.37bn | $3.47bn | $3.64bn | $3.29bn |
Financial ratios
Data as of 5 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.1% | 18.9% | 19.8% | 20.2% | 24.3% | 27.9% |
| Operating margin | 9.3% | 16.1% | 11.1% | 18.6% | 22.9% | 15.2% |
| Net margin | 7.8% | 13.7% | 1.9% | -4.3% | -3.7% | 0.4% |
| Return on equity | 13.8% | 46.3% | 9.7% | -22.4% | -14.8% | 1.6% |
| Return on assets | 1.8% | 3.6% | 0.5% | -1.4% | -1.3% | 0.1% |
| Free cash flow yield | 96.1% | 95.4% | 107.7% | 72.9% | 40.4% | 46.7% |
| Revenue growth | -0.4% | -3.1% | 0.5% | 13.2% | 15.3% | -5.2% |
| Earnings growth | -43.7% | 596.7% | -144.3% | 32.2% | -1060.5% | -85.8% |
| Current ratio | 0.77x | 0.80x | 0.68x | 1.18x | 1.13x | 1.01x |
| Debt to equity | 4.35x | 7.96x | 10.80x | 9.64x | 6.68x | 7.55x |
| Equity ratio | 13.3% | 7.7% | 5.6% | 6.4% | 8.5% | 7.6% |
| Interest coverage | 0.81x | 1.30x | 1.08x | 2.21x | 3.08x | 1.50x |
| Buybacks as a share of market value | -0.1% | -6.4% | -0.2% | -0.3% | 0.3% | -0.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.0% | 4.8% | -1.4% |
| Operating income | -21.3% | -4.9% | -7.9% |
| Net income | — | 85.7% | 12.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.5% | 19.3% | 21.2% | 21.8% |
| Operating margin | 12.7% | 13.8% | 15.4% | 16.1% |
| Net margin | 10.8% | 4.7% | 2.8% | 2.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.8 | 5.4 | 53.3 | -35.2 | -39.2 | 365.6 | 43.8 | 9.7 | -13.0 | -696.2 |
| Price to sales | 0.8 | 0.8 | 1.0 | 1.5 | 1.4 | 1.6 | 1.3 | 0.9 | 0.7 | 0.8 |
Market value over time
30 Nov 2016 to 2 Oct 2026, in USD
$7.58bn$10.66bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 9% | -35% | -31% | 21% | 3% | 14% | 35% | 39% | -11% | 27% |
Dividends and splits
Per share, in the currency the company pays
Paid for 14 years. Last went ex-dividend on 31 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.352 | 0.704 | 0.693 | 0.67 | 0.64 | 0.61 | 0.58 | 0.553 |
- 2-for-1 split · 2 Jun 2000
- 2-for-1 split · 29 Aug 1997
- 1.03-for-1 split · 4 Mar 1994
- 3-for-2 split · 1 Feb 1994
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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