ED Consolidated Edison, Inc. Common Stock
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| Ex-date | Split | Type |
|---|---|---|
| July 3, 1989 | 2-for-1 | Forward |
| July 1, 1982 | 2-for-1 | Forward |
| March 2, 1965 | 2-for-1 | Forward |
About Consolidated Edison, Inc. Common Stock Company overview from Wikipedia
Consolidated Edison, Inc., commonly known as Con Edison (stylized as conEdison) or ConEd, is an energy company based in New York City. It is one of the largest investor-owned energy companies in the United States, with approximately $15.26 billion in annual revenues as of 2024, and over $70 billion in assets. The company provides a wide range of energy-related products and services to its customers through its subsidiaries:
Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric and gas service in New York City and Westchester County, New York, and steam service in the borough of Manhattan;
Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile (3,400 km2) area in southeastern New York and northern New Jersey; and,
Con Edison Transmission, Inc., which invests in electric and natural gas transmission projects.
In 2015, electric revenues accounted for 70.35% of consolidated sales (70.55% in 2014); gas revenues 13.61% (14.96% in 2014); steam revenues 5.01% (4.86% in 2014); and non-utility revenues of 11.02% (9.63% in 2014).
History
On March 23, 1823, "The New York Gas Light Company" was incorporated by the 46th New York State Legislature, creating the earliest corporate predecessor of Consolidated Edison. Founding directors included Samuel Leggett and Henry Eckford, respectively, a noted banker and large real estate holder. On May 12, 1823, the New York Gas Light Company received the exclusive privilege to lay gas pipes in the streets of New York City south of Grand Street. A year later, it was listed on the New York Stock Exchange (NYSE). It holds the record as the longest listed stock on the NYSE. Due to the Board of Aldermen's authority to grant franchises in the City of New York in the early to mid-19th century, interaction with Tammany Hall was required to expand the business. By William M. Tweed's reign in the late 1860s as the boss of Tammany Hall, the power to authorize franchises lay with the County Board of Supervisors, of which Tweed had been a member. By 1871, Tweed was a member of the board of the Harlem Gas Light Company, a precursor to the Consolidated Edison Company. On November 10, 1884, New York Gas Light merged with the Manhattan Gas Light Company (inc. 1830), Metropolitan Gas Light Company (inc. 1848), Municipal Gas Light Company (inc. 1874), Knickerbocker Gas Light Company (inc. 1876), and Harlem Gas Light Company (inc. 1855) to form the Consolidated Gas Company of New York.
In 1901, the Consolidated Gas Company bought Edison Illuminating Company, which had been founded by Thomas Edison in 1880, first supplying electricity to 59 customers in a 1-square-mile (2.6 km2) area in lower Manhattan. After the "war of currents", more than 30 companies were generating and distributing electricity in New York City and Westchester County. But by 1920 there were far fewer, and Consolidated Gas's electricity arm, then called the New York Edison Company, was the leader. On February 18, 1936, an annual report issued by Consolidated Gas Company of New York, Inc. revealed that roughly 75% of their gross operating revenue came from electricity, leading to discussion by the company's officers about changing the company's name to better reflect its nature. On March 16, 1936, stockholders of the Consolidated Gas Company of New York, Inc. voted to change the company's name to Consolidated Edison Company of New York, Inc.
The New York Steam Company began providing service in Lower Manhattan in 1882. Con Edison bought it in 1954, and now operates the largest commercial steam system in the world, providing steam service to nearly 1,600 commercial and residential establishments in Manhattan from Battery Park to 96th Street.
Consolidated Edison acquired or merged with more than a dozen companies between 1936 and 1960. Con Edison today is the result of acquisitions, dissolutions, and mergers of more than 170 individual electric, gas, and steam companies.
Consolidated Edison acquired land on the Hudson River in Buchanan, New York, in 1954 for the Indian Point nuclear power plant. The first reactor (Indian Point 1) began generating power on September 16, 1962. The reactor was shut down on October 31, 1974, because the emergency core cooling system did not meet regulatory requirements. The company built two more reactors at Indian Point during the 1970s: Indian Point 2 and 3. Indian Point 3 was sold to the New York Power Authority in 1975. Entergy acquired Indian Point 2 in November 2000, nine months after a steam generator leak. With the sale of Indian Point 2, the last power plant it owned, Consolidated Edison, Inc. became primarily an energy distributor.
On January 1, 1998, following the deregulation of the utility industry in New York State, a holding company, Consolidated Edison, Inc., was formed. It is one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $47 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and three competitive energy businesses. Under several corporate names, the company has been traded on the NYSE without interruption since 1824—longer than any other NYSE stock. Its largest subsidiary, Consolidated Edison Company of New York, Inc., provides electric, gas, and steam service to more than 3 million customers in New York City and Westchester County, New York, an area of 660 square miles (1,700 km2) with a population of nearly 9 million. Also in 1998, Consolidated Edison, Inc. acquired Orange & Rockland Utilities, which is operated separately.
Con Edison had invested $3 billion in solar and wind projects. In September 2017 it was announced that the company would invest $1.25 billion in "renewable energy production facilities over the next three years."
The company's "renewable portfolio" contained more than 1.5 gigawatts of operating capacity. Seventy-five percent of that capacity came from solar energy. Clean energy accounted for around eight percent of the company's earnings, as of fall 2017. Con Edison sold its clean energy business to RWE in 2023.
Systems
Grid Smoothing
To support electric vehicles, Con Edison partnered with the company FleetCarma to provide $500 in rewards to owners of electric vehicles in New York City and Westchester County, New York. Through this program, Con Edison pays customers to charge their vehicles when energy demand is low.
Electrical
The Con Edison electrical transmission system utilizes voltages of 138 kilovolts (kV), 345 kV, and 500 kV. The company has two 345 kV interconnections with upstate New York that enable it to import power from Hydro-Québec in Canada and one 345 kV interconnection each with Public Service Electric and Gas (PSE&G) in New Jersey and Long Island. Con Edison's connection with Hydro-Québec is via a series of transmission lines owned by the New York Power Authority and neighboring utilities; a more direct connection via the Champlain Hudson Power Express HVDC line is expected to come online in 2025.
Con Edison is also interconnected with PSE&G via the Branchburg-Ramapo 500 kV line. Con Ed's distribution voltages are 33 kV, 27 kV, 13 kV, and 4 kV.
The 93,000 miles (150,000 km) of underground cable in the Con Edison system could wrap around the Earth 3.6 times. Nearly 36,000 miles (58,000 km) of overhead electric wires complement the underground system—enough cable to stretch between New York and Los Angeles 13 times.
Gas
The Con Edison gas system has nearly 7,200 miles (11,600 km) of pipes—if laid end to end, long enough to reach Paris and back to New York City, and serves Westchester County, the Bronx, Manhattan, and parts of Queens. Gas service in Brooklyn, Staten Island, and the rest of Queens is provided by National Grid USA's New York City operations, except the Rockaway peninsula, which is serviced by National Grid's Long Island operations. The average volume of gas that travels through Con Edison's gas system annually could fill the Empire State Building nearly 6,100 times.
Steam
Con Edison produces 30 billion pounds of steam each year through its seven power plants which boil water to 1,000 °F (538 °C) before distributing it to hundreds of buildings in the New York City steam system, which is the biggest district steam system in the world. Steam traveling through the system is used to heat and cool some of New York's most famous addresses, including the United Nations complex, the Empire State Building, and the Metropolitan Museum of Art.
Metering
The Smart Meter Project was awarded to Aclara Smart Grid Solutions (electric) and the majority of the rollout was completed in 2022 with several thousand meters still needing to be changed in 2023 due to customer access issues. ConEd utilized Aclara's metering products for field installation. Over five million electric and gas meters were replaced in this project. Lime green-colored seals were used on electric meters to indicate that the meter was changed by a contractor.
Programs and resources
ConEd offers a variety of programs and resources for its customers and stakeholders, organized in such categories as, "For Renters", "For Residential Owners", "For Small & Medium Businesses", "For Commercial & Industrial", "Business Partners", "Investors", "Community Affairs", and "Municipalities". Examples of such resources include:
CONCERN Program, which offers eligible customers a specially trained representative and advice about government aid programs, safety tips, and ways to save money on one's energy bill
Quarterly Billing Plan, which allows senior citizens, whose Con Edison bills are less than $420 a year, to receive bills once every three months (in March, June, September, and December), rather than once a month
SPOTLIGHT, Con Edison's newsletter
Community partnerships
Con Edison contributes substantial funding and volunteer hours to many non-profit organizations and learning centers including New York Botanical Garden, Hudson Valley Groundworks Science Barge, Teatown Reservation, Jay Heritage Center, and the Intrepid Sea, Air & Space Museum.
Leadership and associations
As of February 2019 Con Edison listed the following individuals as their executive officers.
Timothy P. Cawley, chairman, president and chief executive officer, Consolidated Edison, Inc.
Kirkland Andrews, senior vice president and chief financial officer
Matt Ketschke, president, Con Edison of New York
Michele O'Connell, president and CEO, Orange and Rockland Utilities, Inc.
Robert Sanchez, president, Shared Services, Con Edison of New York
Stuart Nachmias, president and CEO, Con Edison Transmission
Deneen L. Donnley, senior vice president and general counsel
Jennifer Hensley, senior vice president, Corporate Affairs, Con Edison of New York
Joseph Miller, vice president and controller
Kamran Ziaee, senior vice president and CIO
ConEd Solutions is a member of Real Estate Board of New York.
Major accidents and incidents
1977: All of New York City, with the exception of the Rockaways - which get their power from the Long Island Lighting Company (LILCo) - was blacked out overnight on July 13 and 14, due to lightning strikes on a number of sub-stations and the resulting failures of interconnects in the power grid.
1989: A steam pipe explosion in Gramercy Park killed three, injured 24, and required the evacuation of a damaged apartment building due to high levels of asbestos in the air. Workers had failed to drain water from the pipe before turning the steam on. The utility also eventually pleaded guilty to lying about the absence of asbestos contamination, and paid a $2 million fine.
2001: The Con Edison electricity substation at 7 World Trade Center was destroyed on September 11th as a result of the collapse of Numbers 1 and 2 World Trade Center following a terrorist attack by Al-Qaeda against the United States.
2004: In Manhattan, stray voltage killed East Village resident Jodie Lane and her dog when she stepped on a service box that wasn't properly insulated. The corner of East 11th Street and 1st Avenue, where the incident occurred, was given the alternate name of Jodie Lane Place in 2005.
2006: After the blackout in Queens, the company was criticized by public officials for a poor record in the restoration of service to its customers.
2007: On July 18, an explosion occurred in midtown Manhattan near Grand Central Terminal when an 83-year-old Con Edison steam pipe failed, resulting in one death, over 40 injuries, as well as subway and surface disruptions.
2007: The day before Thanksgiving, an explosion critically burned Queens resident Kunta Oza when an 80-year-old cast iron gas main ruptured. Oza died on Thanksgiving Day, and her family later settled with Con Edison for $3.75 million.
2009: Another gas explosion claimed a life in Queens while Con Edison personnel were on the scene. There was a leak in a manhole and a fault in an electrical feeder at the same time. The fault in the feeder caused the explosion due to the sparks being generated. When the mechanic opened the manhole more oxygen entered and the explosion took place. Due to that event, Con Edison has changed its procedure on outside gas leak calls.
2012:
On October 29, flooding from Hurricane Sandy caused a transformer explosion at a Con-Ed plant on New York City's East Side.
During the storm, Con Edison used social media to get outage and restoration information out to customers. The company's Twitter account gained an extra 16,000 followers during the storm.
Con Edison's subsidiary, Orange & Rockland Utilities, was criticized for its response to Hurricane Sandy. Some customers experienced a loss of electrical power for 11 days.
2014: On March 12, two apartment buildings exploded in East Harlem after a reported Con Edison gas leak. Eight people were killed in the massive explosion that reduced the conjoining buildings to rubble.
2018: After 9 p.m. on December 27, a transformer short-circuit at a ConEd power plant in Astoria, Queens shut down La Guardia Airport for several hours - until it switched to back-up generators - caused extensive delays on the #7 subway line, and an outage on Rikers Island, until it, too, reverted to back-up equipment. The incident caused a large portion of the sky in the surrounding area to be lit up by blue light that was caused by arc flashes, in which light-emitting atoms of excited gas, called plasma, are projected into the air. The arc flashes probably lasted only a few minutes, but because of meteorological conditions which caused them to be refracted, they were seen across a large portion of the New York City metropolitan area. There was no explosion or fire connected to the electrical surge, and no reported injuries. The New York Police Department reported that 911 calls increased from 500 in the half-hour before the event to over 3,200 in the 30 minutes afterwards. ConEd is investigating the cause of the surge in equipment that was intended to monitor voltage in the electrical sub-station, but suspects that the problem was a malfunctioning of its relay system. The lights were nicknamed the "Astoria Borealis" on Twitter.
2019: On the night of July 13 a significant portion of Manhattan saw a blackout due to a Consolidated Edison cable that burnt out in a transformer on West End Avenue. The blackout, which lasted for about three hours, shut down a number of subway stations, much of the West Side from the 40s to 72nd Street, parts of Times Square and Rockefeller Center, and other areas, resulting in an estimated 73,000 customers losing power. The outage fell on the anniversary of the 1977 blackout, where most of the city lost power.
2020: During the COVID-19 pandemic in the United States, 170 Con Edison employees tested positive for COVID-19 and three died. Consolidated Edison said they would not shut off service due to non-payment related to the health crisis and would waive any new late-payment charges for customers.
Bribery prosecution
On January 14, 2009, eleven Con Edison supervisors were arrested for demanding more than $1 million in kickbacks related to work done by a construction company that was repairing the Midtown steam pipe eruption of 2007. According to federal prosecutors, the employees had approved payment for work that was unnecessary or not performed and promised faster payment for some work performed by the construction company in exchange for the bribes. The FBI had two retired Con Edison employees and the president of the construction company wear recording devices that recorded the suspects demanding bribes of between $1000 and $5000. Later that year Con Edison sued Brendan Maher, one of the construction supervisors who was arrested and later admitted to taking bribes that the utility company claimed amounted to $10,000.
In April 2016, Con Edison agreed to pay over $171 million, about 1.5% of its annual revenue, back to its customers in compensation for harm resulting from the bribery. The Public Service Commission had found that Con Edison failed to supervise the employees. Con Edison admitted no wrongdoing.
Honors and criticism
In March 2002, Fortune magazine named the company as one of "America's Most Admired Companies" in the publication's newest corporate ranking survey. In 2003, Con Edison ranked second on the top ten list for electric and gas utilities.
In December 2011, the non-partisan organization Public Campaign released a report criticizing ConEd for spending $1.8 million on lobbying and not paying any taxes during 2008–2010, instead getting $127 million in tax rebates, despite making a profit of $4.2 billion, and increasing executive pay by 82% to $17.4 million in 2010 for its top five executives.
In 2014, Con Edison was named the #1 utility and #16 overall among corporations, in Newsweek's Green Rankings, and one of the 50 best companies for Latinas by Latina Style Magazine. In its "Best of the Best" issue in 2015, Hispanic Network Magazine named the company a top employer among energy, gas, and oil companies. Con Edison was also selected as one of the top regional utilities by DiversityInc magazine in 2014. In 2016, the company was listed among America's best large employers by Forbes.
In February 2021, The Energy and Policy Institute criticized Con Edison for touting clean energy while investing in Gas Infrastructure. Unsustainable fracked gas was involved. The article explained, "A recent analysis of utility executive compensation by the Energy and Policy Institute found that Con Edison’s executive compensation policies include renewable energy growth as components of broader goals, but do not reward executives for reducing greenhouse gas emissions.”
Stop tags
When a New York City contractor is unable to repair a reported nonfunctioning or malfunctioning street light, traffic light or pedestrian Walk/Don't Walk light because of a failure in the power to the affected unit, a stop tag is assigned by Con Ed. When a caller to NYC's 311 asks for follow-up information about a reported outage, they are told the stop tag number, and told to call Con Ed at 800-752-6633 (800-75-CON-ED).
The New York Times wrote that it can take over two years for some repairs. Sometimes an entire fixture must be removed, repaired, then returned. Other times the streets must be torn up to replace underground wiring. Temporary fixes, using what was described as "nothing more than overhead extension cords" (called "Shunts") at times are left in place for an extended period. In 2017 Con Ed committed to repair "at least 90% ... within 90 days."
Adaptive re-use of former Con Ed buildings
A former Con Edison building on West 53rd Street in Manhattan was converted first into the studio for the television game show Let's Make a Deal, and later into a recording studio called "Power Station" because of its Edison history. In 1996, the studio was renamed Avatar Studios and then in 2017 back to "Power Station".
In 1978, Con Edison sold the Excelsior Power Company Building, a former substation on Gold Street in Manhattan's Financial District. It was renovated into an apartment building, and became a New York City designated landmark in 2016.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ED | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 17.0 | · | 23.8 | Undervalued | |
| P/S (TTM) | 2.2 | · | 3.3 | Undervalued | |
| P/B (MRQ) | 1.5 | · | 2.3 | Undervalued | |
| EV / EBITDA | 21.7 | · | 13.1 | Overvalued | |
| Price / Cash Flow | 7.9 | · | 9.6 | Undervalued | |
| EV / Revenue | 3.8 | · | · | · | |
| Price / Tangible Book | 1.6 | · | · | · | |
| PEG Ratio | ≈1.5 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ED | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 18.0% | · | 19.1% | Weak | |
| EBITDA Margin | 17.3% | · | 28.7% | Weak | |
| Pretax Margin (TTM) | 16.4% | · | 15.1% | Weak | |
| Net Profit Margin (TTM) | 12.5% | · | 12.5% | Weak | |
| ROA (TTM) | 3.0% | · | 2.8% | In line | |
| ROE (TTM) | 9.0% | · | 11.0% | Weak | |
| ROIC | 4.4% | · | 5.6% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | ED | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.0 | · | 1.4 | Low debt | |
| Current Ratio (MRQ) | 1.3 | · | 0.9 | Strong liquidity | |
| Quick Ratio | 0.6 | · | 0.3 | Strong liquidity | |
| Long-Term Debt / Equity | 1.1 | · | 1.4 | Low debt | |
| Interest Coverage | 2.4 | · | 2.6 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | ED | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 10.9% | · | · | · | |
| Revenue CAGR 3Y | 2.6% | · | · | · | |
| Revenue CAGR 5Y | 6.7% | · | · | · | |
| EPS YoY | 7.6% | · | · | · | |
| Net Income YoY | 11.2% | · | · | · | |
| EPS CAGR 3Y | 6.6% | · | · | · | |
| EPS CAGR 5Y | 11.5% | · | · | · | |
| Net Income CAGR 3Y | 6.8% | · | · | · | |
| Net Income CAGR 5Y | 12.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | ED | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.2 | Top tier | |
| Receivables Turnover | 6.7 | · | 7.0 | Weak | |
| Revenue / Employee | ≈$1.1M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 19, 2026 | $0.89 | USD | ≈3.3% |
| May 13, 2026 | $0.89 | USD | ≈3.3% |
| Feb 18, 2026 | $0.89 | USD | ≈3.1% |
| Nov 19, 2025 | $0.85 | USD | ≈3.4% |
| Aug 13, 2025 | $0.85 | USD | ≈3.3% |
| May 14, 2025 | $0.85 | USD | ≈3.4% |
| Feb 19, 2025 | $0.85 | USD | ≈3.5% |
| Nov 13, 2024 | $0.83 | USD | ≈3.5% |
| Aug 14, 2024 | $0.83 | USD | ≈3.3% |
| May 14, 2024 | $0.83 | USD | ≈3.4% |
| Feb 13, 2024 | $0.83 | USD | ≈3.8% |
| Nov 14, 2023 | $0.81 | USD | ≈3.6% |
| Aug 15, 2023 | $0.81 | USD | ≈3.7% |
| May 16, 2023 | $0.81 | USD | ≈3.3% |
| Feb 14, 2023 | $0.81 | USD | ≈3.5% |
| Nov 15, 2022 | $0.79 | USD | ≈3.5% |
| Aug 16, 2022 | $0.79 | USD | ≈3.1% |
| May 17, 2022 | $0.79 | USD | ≈3.3% |
| Feb 15, 2022 | $0.79 | USD | ≈3.8% |
| Nov 16, 2021 | $0.78 | USD | ≈4.0% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 5, 2026 | $0.83 | $0.78 | 7.0% |
| March 31, 2026 | $2.18 | $2.34 | -6.9% | |
| Dec. 31, 2025 | $0.89 | $0.98 | -8.8% | |
| Sept. 30, 2025 | $1.90 | $1.79 | 5.9% | |
| June 30, 2025 | $0.67 | $0.66 | 1.6% | |
| March 31, 2025 | $2.26 | $2.27 | -0.36% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.92B | $15.26B | $14.66B | $15.67B | $13.68B | $12.25B | $12.57B | $12.34B | $12.03B | $12.07B | $12.55B | $12.92B | |
| R&D Expense | · | · | · | $27M | $25M | $24M | $24M | $24M | $24M | $24M | $23M | $22M | |
| Operating Expenses | $13.99B | $12.52B | $12.33B | $13.05B | $10.85B | $9.59B | $9.90B | $9.80B | $9.26B | $9.40B | $10.13B | $10.76B | |
| Operating Income | $2.94B | $2.67B | $3.20B | $2.62B | $2.83B | $2.65B | $2.68B | $2.66B | $2.77B | $2.78B | $2.43B | $2.21B | |
| Interest Expense | $1.23B | $1.19B | $1.02B | $852M | $905M | $1.02B | $991M | $819M | $729M | · | · | · | |
| Other Non-op | $895M | $655M | $830M | $326M | $-538M | $-401M | $51M | $-62M | $-48M | $-141M | $24M | $42M | |
| Pretax Income | $2.60B | $2.14B | $3.00B | $2.10B | $1.38B | $1.23B | $1.74B | $1.78B | $2.00B | $1.94B | $1.80B | $1.66B | |
| Income Tax | $574M | $318M | $487M | $498M | $190M | $90M | $296M | $401M | $472M | $698M | $605M | $568M | |
| Net Income | $2.02B | $1.82B | $2.52B | $1.66B | $1.35B | $1.10B | $1.34B | $1.38B | $1.52B | $1.25B | $1.19B | $1.09B | |
| EPS (Basic) | $5.66 | $5.26 | $7.25 | $4.68 | $3.86 | $3.29 | $4.09 | $4.43 | $4.97 | $4.15 | $4.07 | $3.73 | |
| EPS (Diluted) | $5.64 | $5.24 | $7.21 | $4.66 | $3.85 | $3.28 | $4.08 | $4.42 | $4.94 | $4.12 | $4.05 | $3.71 | |
| Shares (Basic) | 357,400,000 | 346,000,000 | 347,700,000 | 354,500,000 | 348,400,000 | 334,800,000 | 328,500,000 | 311,700,000 | 307,100,000 | 300,400,000 | 293,000,000 | 292,900,000 | |
| Shares (Diluted) | 358,700,000 | 347,300,000 | 349,300,000 | 355,800,000 | 349,400,000 | 335,700,000 | 329,500,000 | 312,900,000 | 308,800,000 | 301,900,000 | 294,400,000 | 294,000,000 | |
| EBITDA | $2.94B | $2.67B | $3.20B | $2.62B | $2.83B | $2.65B | $2.68B | $2.66B | $2.61B | $2.58B | $2.43B | $2.21B |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.63B | $1.32B | $1.19B | $1.28B | $992M | $1.27B | $981M | $895M | $797M | $776M | $944M | $699M | |
| Receivables | $2.58B | $2.44B | $2.42B | $2.19B | $1.94B | $1.70B | $1.24B | $1.27B | $1.10B | $1.11B | $1.05B | $1.20B | |
| Prepaid Expense | $381M | $445M | $470M | $264M | $295M | $271M | $260M | $187M | $178M | $159M | $177M | $163M | |
| Other Current Assets | $161M | $194M | $125M | $176M | $233M | $231M | $200M | $122M | $177M | $151M | $194M | $278M | |
| Current Assets | $6.75B | $6.66B | $6.54B | $12.97B | $5.55B | $5.30B | $4.27B | $3.86B | $3.54B | $3.41B | $3.84B | $3.72B | |
| PP&E (Net) | $55.40B | $52.16B | $49.61B | $46.77B | $48.60B | $46.55B | $43.89B | $41.75B | $37.60B | $35.22B | $32.21B | $29.83B | |
| Accum. Depreciation | $25M | $25M | $24M | $23M | $626M | $522M | $391M | $275M | $201M | $140M | $95M | $91M | |
| Goodwill | $406M | $408M | $408M | $408M | $439M | $446M | $446M | $440M | $428M | $428M | $429M | $429M | |
| Intangibles | · | · | · | $1.22B | $1.29B | $1.46B | $1.56B | $1.65B | $131M | $124M | $2M | $3M | |
| Other Non-current Assets | $11.24B | $10.61B | $9.19B | $8.49B | $8.12B | $9.22B | $7.85B | $6.54B | $4.97B | $7.71B | $8.71B | $9.71B | |
| Total Assets | $74.60B | $70.56B | $66.33B | $69.06B | $63.12B | $62.90B | $58.08B | $53.92B | $48.11B | $48.26B | $45.64B | $44.07B | |
| Accounts Payable | $1.95B | $1.68B | $1.77B | $1.96B | $1.50B | $1.48B | $1.16B | $1.19B | $1.29B | $1.15B | $1.01B | $1.03B | |
| Short-term Debt | $1.57B | $2.17B | $2.29B | $2.64B | $0 | $165M | $0 | $825M | $0 | $1.05B | $1.53B | $800M | |
| Current Liabilities | $6.61B | $6.43B | $6.46B | $11.34B | $5.43B | $7.35B | $6.29B | $6.21B | $4.90B | $3.84B | $4.72B | $3.76B | |
| Capital Leases | $377M | $386M | $429M | $476M | $717M | $764M | $809M | $0 | · | · | · | · | |
| Long-term Debt | $25.80B | $24.71B | $22.24B | $23.44B | $23.04B | $22.35B | $19.97B | $18.14B | $16.03B | $14.77B | $12.74B | $12.11B | |
| Total Debt | $27.38B | $26.88B | $24.53B | $23.84B | $22.60B | $20.55B | $19.97B | $18.97B | $16.61B | $15.83B | $14.27B | $12.99B | |
| Common Stock | $39M | $38M | · | · | · | · | · | · | · | · | · | · | |
| Paid-in Capital | $11.44B | $9.99B | · | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $14.86B | $14.05B | · | · | · | · | · | · | · | · | · | · | |
| Treasury Stock | $2.02B | $2.02B | · | · | · | · | · | · | · | · | · | · | |
| AOCI | $15M | $29M | $22M | $22M | $5M | $-25M | $-19M | $-16M | $-26M | $-27M | $-34M | $-45M | |
| Stockholders' Equity | $24.19B | $21.96B | $21.16B | $20.89B | $20.34B | $18.85B | $18.02B | $16.73B | $15.42B | $14.30B | $13.05B | $12.58B | |
| Liabilities + Equity | $74.60B | $70.56B | $66.33B | $69.06B | $63.12B | $62.90B | $58.08B | $53.92B | $48.11B | $48.26B | $45.64B | $44.07B | |
| Shares Outstanding | 361,000,000 | 347,000,000 | 345,000,000 | 355,000,000 | 354,000,000 | 342,000,000 | 333,000,000 | 321,000,000 | 310,000,000 | 305,000,000 | 293,000,000 | 293,000,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.32B | $2.15B | $2.03B | $2.06B | $2.03B | $1.92B | $1.68B | $1.44B | $1.34B | $1.22B | $1.13B | $1.07B | |
| Deferred Tax | $590M | $416M | $132M | $435M | $133M | $85M | $308M | $408M | $485M | $783M | $653M | $518M | |
| Amort. of Intangibles | · | · | · | $71M | $95M | $102M | $99M | $14M | $9M | $2M | $0 | · | |
| Operating Cash Flow | $4.80B | $3.61B | $2.16B | $3.94B | $2.73B | $2.20B | $3.13B | $2.69B | $3.37B | $3.46B | $3.28B | $2.83B | |
| CapEx | · | · | · | $4.46B | $3.96B | $4.08B | $3.68B | $5.25B | $3.61B | $5.24B | $492M | $180M | |
| Investing Cash Flow | $-5.25B | $-5.27B | $-1.00B | $-4.57B | $-3.48B | $-4.22B | $-3.78B | $-5.47B | $-3.71B | $-4.95B | $-3.66B | $-2.76B | |
| Debt Issued | $1.15B | $2.98B | $2.05B | $800M | $2.80B | $2.92B | $3.02B | $3.03B | $1.70B | $2.59B | $1.15B | $1.85B | |
| Net Debt Issued | $1.15B | $2.50B | $1.34B | $394M | $844M | $2.41B | $1.82B | $1.09B | $1.26B | $1.85B | $647M | $1.37B | |
| Stock Issued | · | · | $0 | $0 | $775M | $640M | $825M | $705M | $343M | $702M | $0 | $0 | |
| Stock Repurchased | $0 | $0 | $1.00B | $0 | $0 | · | · | · | · | · | $-1M | $10M | |
| Net Stock Activity | $0 | $0 | $-1.00B | $0 | $775M | $640M | $825M | $705M | $343M | $702M | $1M | $-10M | |
| Dividends Paid | $1.17B | $1.10B | $1.10B | $1.09B | $1.03B | $975M | $924M | $842M | $803M | $763M | $733M | $739M | |
| Financing Cash Flow | $746M | $1.80B | $-1.49B | $1.01B | $461M | $2.25B | $859M | $2.94B | $357M | $1.34B | $629M | $-47M | |
| Net Change in Cash | $297M | $138M | $-335M | $384M | $-290M | $219M | $211M | $162M | $14M | $-146M | $249M | $25M | |
| Taxes Paid | $-165M | $7M | $397M | $47M | $9M | $38M | $-26M | $0 | $-29M | $-180M | $-36M | $633M | |
| Free Cash Flow | · | · | · | $-530M | $-1.23B | $-1.89B | $-542M | $-2.55B | $2.95B | $2.61B | $2.79B | $2.65B | |
| Levered FCF | · | · | · | $-1.18B | $-2.01B | $-2.83B | $-1.36B | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 17.3% | 17.5% | 21.8% | 16.8% | 20.7% | 21.7% | 21.3% | 21.6% | 21.7% | 21.3% | 19.3% | 17.1% | |
| Net Margin | 12.0% | 11.9% | 17.2% | 10.6% | 9.8% | 9.0% | 10.7% | 11.2% | 12.7% | 10.3% | 9.5% | 8.5% | |
| Pretax Margin | 15.3% | 14.0% | 20.5% | 13.4% | 10.1% | 10.1% | 13.8% | 14.4% | 16.6% | 16.1% | 14.3% | 12.8% | |
| EBITDA Margin | 17.3% | 17.5% | 21.8% | 16.8% | 20.7% | 21.7% | 21.3% | 21.6% | 21.7% | 21.3% | 19.3% | 17.1% | |
| ROA | 2.8% | 2.6% | 3.7% | 2.5% | 2.1% | 1.8% | 2.4% | 2.7% | 3.2% | 2.6% | 2.6% | 2.6% | |
| ROE | 8.4% | 8.3% | 12.0% | 8.1% | 6.9% | 6.0% | 7.7% | 8.6% | 10.3% | 9.1% | 9.3% | 8.7% | |
| ROIC | 4.4% | 4.7% | 5.9% | 4.5% | 5.7% | 6.2% | 5.8% | 5.8% | 6.2% | 5.5% | 5.9% | 5.7% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | 1.0 | 1.1 | 1.0 | 0.7 | 0.7 | 0.6 | 0.7 | 0.9 | 0.8 | 1.0 | |
| Quick Ratio | 0.6 | 0.6 | 0.6 | 0.3 | 0.5 | 0.4 | 0.4 | 0.3 | 0.4 | 0.5 | 0.4 | 0.5 | |
| Debt / Equity | 1.1 | 1.2 | 1.2 | 1.2 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.0 | |
| LT Debt / Equity | 1.1 | 1.1 | 1.0 | 1.1 | 1.1 | 1.1 | 1.0 | 1.0 | 1.0 | 1.0 | 0.9 | 0.9 | |
| Interest Coverage | 2.4 | 2.2 | 3.1 | 3.1 | 3.1 | 2.6 | 2.7 | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | |
| Receivables Turnover | 6.7 | 6.3 | 6.4 | 7.6 | 7.5 | 8.3 | 10.0 | 10.4 | 10.9 | 11.2 | 11.1 | 10.5 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $67.01 | $63.36 | $61.25 | $58.28 | $56.60 | $55.06 | $54.18 | $52.11 | $49.74 | $46.88 | $593.92 | $572.26 | |
| Revenue / Share | $47.16 | $43.93 | $41.98 | $44.04 | $39.14 | $36.48 | $38.16 | $39.43 | $38.97 | $40.00 | $42.64 | $43.94 | |
| Cash Flow / Share | $13.38 | $10.41 | $6.17 | $11.06 | $7.82 | $6.55 | $9.51 | $8.61 | $10.90 | $11.46 | $11.13 | $9.63 | |
| Cash / Share | $4.51 | $3.82 | $3.44 | $3.61 | $2.80 | $3.72 | $2.95 | $2.79 | $2.57 | $2.54 | $42.96 | $31.81 | |
| Dividend / Share | · | $3.32 | $3.24 | $3.16 | · | · | · | · | $2.76 | $2.68 | $2.60 | $2.52 | |
| Dividend Paid / Share | · | · | $3.24 | $3.16 | $3.10 | $3.06 | $2.96 | $2.86 | $2.76 | $2.68 | · | · | |
| EPS (TTM) | $5.64 | $5.24 | $7.21 | $4.66 | $3.85 | $3.28 | $4.08 | $4.42 | $4.94 | $4.12 | $4.05 | $3.71 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 10.9% | 4.0% | -6.4% | 14.6% | 11.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 2.6% | 3.7% | 6.2% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 6.7% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 7.6% | -27.3% | 54.7% | 21.0% | 17.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 6.6% | 10.8% | 30.0% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 11.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 11.2% | -27.8% | 51.7% | 23.3% | 22.2% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 6.8% | 10.6% | 31.8% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 12.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 3.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $16.92B | $15.26B | $14.66B | $15.67B | $13.68B | $12.25B | $12.57B | $12.34B | $12.03B | $12.07B | $12.55B | $12.92B | |
| Net Income TTM | $2.02B | $1.82B | $2.52B | $1.66B | $1.35B | $1.10B | $1.34B | $1.38B | $1.52B | $1.25B | $1.19B | $1.09B | |
| Market Cap | $35.85B | $30.93B | $31.42B | $33.83B | $30.20B | $24.74B | $30.09B | $24.54B | $26.33B | $22.47B | $1.41B | $1.45B | |
| Enterprise Value | $61.60B | $56.48B | $54.76B | $56.39B | $51.81B | $44.01B | $49.08B | $42.62B | $42.14B | $37.52B | $14.74B | $13.74B | |
| P/E | 17.6 | 17.0 | 12.6 | 20.5 | 22.2 | 22.0 | 22.2 | 17.3 | 17.2 | 17.9 | 15.9 | 17.8 | |
| P/S | 2.1 | 2.0 | 2.1 | 2.2 | 2.2 | 2.0 | 2.4 | 2.0 | 2.2 | 1.9 | 0.1 | 0.1 | |
| P/B | 1.5 | 1.4 | 1.5 | 1.6 | 1.5 | 1.3 | 1.7 | 1.5 | 1.7 | 1.6 | 0.1 | 0.1 | |
| P / Tangible Book | 1.5 | 1.4 | 1.5 | 1.8 | 1.6 | 1.5 | · | · | · | · | · | · | |
| P / Cash Flow | 7.5 | 8.6 | 14.6 | 8.6 | 11.1 | 11.3 | 9.6 | 9.1 | 7.8 | 6.5 | 0.4 | 0.5 | |
| P / FCF | · | · | · | -63.8 | -24.5 | -13.1 | -55.5 | -9.6 | 8.9 | 8.6 | 0.5 | 0.5 | |
| EV / EBITDA | 21.0 | 21.2 | 17.1 | 21.5 | 18.3 | 16.6 | 18.3 | 16.0 | 16.1 | 14.6 | 6.1 | 6.2 | |
| EV / FCF | · | · | · | -106.4 | -42.1 | -23.3 | -90.6 | -16.7 | 14.3 | 14.4 | 5.3 | 5.2 | |
| EV / Revenue | 3.6 | 3.7 | 3.7 | 3.6 | 3.8 | 3.6 | 3.9 | 3.5 | 3.5 | 3.1 | 1.2 | 1.1 | |
| Dividend Yield | 3.2% | 3.6% | 3.5% | 3.2% | 3.4% | 3.9% | 3.1% | 3.4% | 3.0% | 3.4% | 51.9% | 50.9% | |
| Earnings Yield | 5.7% | 5.9% | 7.9% | 4.9% | 4.5% | 4.5% | 4.5% | 5.8% | 5.8% | 5.6% | 6.3% | 5.6% | |
| Payout Ratio | 57.6% | 60.4% | 43.5% | 65.6% | 76.5% | 88.6% | 68.8% | 60.9% | 52.7% | 61.3% | 61.4% | 67.7% | |
| Annual Payout | $1.17B | $1.10B | $1.10B | $1.09B | $1.03B | $975M | $924M | $842M | $803M | $763M | $733M | $739M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.07B | $5.09B | $4.00B | $4.53B | $3.60B | $4.80B | $3.66B | $4.09B | $3.22B | $4.28B | $3.44B | $3.87B | $2.94B | $4.40B | $4.03B | $4.17B | |
| Operating Expenses | $3.52B | $3.92B | $3.51B | $3.56B | $3.24B | $3.67B | $3.15B | $3.23B | $2.90B | $3.24B | $2.99B | $3.15B | $2.67B | $3.52B | $3.48B | $3.28B | |
| Operating Income | $552M | $1.18B | $487M | $968M | $355M | $1.12B | $477M | $862M | $320M | $1.01B | $451M | $722M | $284M | $1.74B | $549M | $889M | |
| Interest Expense | $314M | $308M | $311M | $309M | $300M | $313M | $304M | $306M | $288M | $289M | $266M | $259M | $236M | $262M | $266M | $199M | |
| Other Non-op | $170M | $169M | $202M | $231M | $241M | $221M | $148M | $165M | $160M | $182M | $220M | $207M | $207M | $196M | $58M | $89M | |
| Pretax Income | $408M | $1.23B | $378M | $890M | $296M | $1.03B | $321M | $721M | $192M | $904M | $405M | $670M | $255M | $1.67B | $341M | $779M | |
| Income Tax | $100M | $303M | $80M | $202M | $50M | $242M | $11M | $133M | $-10M | $184M | $71M | $144M | $29M | $243M | $168M | $160M | |
| Net Income | $308M | $924M | $298M | $688M | $246M | $791M | $310M | $588M | $202M | $720M | $334M | $526M | $226M | $1.43B | $190M | $613M | |
| EPS (Basic) | $0.83 | $2.55 | $0.81 | $1.91 | $0.68 | $2.26 | $0.90 | $1.70 | $0.58 | $2.08 | $1.01 | $1.53 | $0.65 | $4.06 | $0.53 | $1.73 | |
| EPS (Diluted) | $0.83 | $2.54 | $0.81 | $1.90 | $0.68 | $2.25 | $0.89 | $1.69 | $0.58 | $2.08 | $0.99 | $1.52 | $0.65 | $4.05 | $0.52 | $1.72 | |
| Shares (Basic) | 368,800,000 | 363,000,000 | · | 360,700,000 | 360,400,000 | 350,100,000 | · | 346,200,000 | 345,900,000 | 345,500,000 | · | 345,000,000 | 345,900,000 | 352,900,000 | · | 354,600,000 | |
| Shares (Diluted) | 370,000,000 | 364,400,000 | · | 361,900,000 | 361,700,000 | 351,300,000 | · | 347,500,000 | 347,100,000 | 346,800,000 | · | 346,500,000 | 347,400,000 | 354,200,000 | · | 355,900,000 | |
| EBITDA | $552M | $1.18B | · | $968M | $355M | $1.12B | · | $862M | $320M | $1.01B | · | $722M | $284M | · | · | $889M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.47B | $147M | $1.63B | $181M | $1.51B | $360M | $1.32B | $93M | $1.50B | $169M | · | $539M | $1.96B | $771M | · | $78M | |
| Receivables | $2.56B | $2.81B | $2.58B | $2.35B | $2.39B | $2.75B | $2.44B | $2.57B | $2.42B | $2.62B | · | $2.05B | $1.68B | $2.04B | · | $2.10B | |
| Prepaid Expense | $440M | $1.07B | $381M | $1.15B | $374M | $999M | $445M | $1.37B | $438M | $1.02B | · | $1.11B | $326M | $833M | · | $913M | |
| Other Current Assets | $169M | $153M | $161M | $139M | $164M | $155M | $194M | $139M | $136M | $102M | · | $119M | $133M | $137M | · | $288M | |
| Current Assets | $6.79B | $6.29B | $6.75B | $5.46B | $6.05B | $6.13B | $6.66B | $6.08B | $6.49B | $6.17B | · | $5.94B | $6.20B | $5.87B | · | $5.73B | |
| PP&E (Net) | $57.10B | $56.10B | $55.40B | $54.40B | $53.62B | $52.81B | $52.16B | $51.36B | $50.62B | $49.85B | · | $48.53B | $47.93B | $47.29B | · | $50.39B | |
| Accum. Depreciation | $25M | $25M | $25M | $25M | $25M | $25M | $25M | $24M | $24M | $24M | · | $24M | $23M | $23M | · | $731M | |
| Goodwill | $406M | $406M | $406M | $408M | $408M | $408M | $408M | $408M | $408M | $408M | · | $408M | $408M | $407M | · | $439M | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $1.22B | |
| Other Non-current Assets | $11.46B | $11.29B | $11.24B | $10.76B | $10.64B | $10.61B | $10.61B | $10.07B | $9.73B | $9.62B | · | $9.00B | $8.70B | $8.74B | · | $8.83B | |
| Total Assets | $76.46B | $74.74B | $74.60B | $71.84B | $71.50B | $70.69B | $70.56B | $68.64B | $67.92B | $66.68B | $66.33B | $64.41B | $63.77B | $62.80B | $69.06B | $65.76B | |
| Accounts Payable | $1.77B | $1.66B | $1.95B | $1.58B | $1.55B | $1.45B | $1.68B | $1.47B | $1.50B | $1.44B | · | $1.31B | $1.32B | $1.36B | · | $1.59B | |
| Short-term Debt | $721M | $869M | $1.57B | $552M | $1.22B | $350M | $2.17B | $2.06B | $2.45B | $2.30B | · | $1.88B | $1.95B | $411M | · | $1.94B | |
| Current Liabilities | $5.35B | $5.29B | $6.61B | $5.08B | $5.51B | $4.78B | $6.43B | $6.03B | $6.22B | $6.24B | · | $6.05B | $6.07B | $4.89B | · | $6.89B | |
| Capital Leases | $381M | $380M | $377M | $394M | $394M | $394M | $386M | $430M | $430M | $430M | · | $477M | $472M | $474M | · | $772M | |
| Long-term Debt | · | · | $25.80B | · | · | · | $24.71B | · | · | · | · | · | · | · | · | · | |
| Total Debt | $721M | $869M | · | $552M | $1.22B | $350M | · | $25.50B | $25.76B | $24.23B | · | $22.53B | $22.60B | · | · | $24.29B | |
| Common Stock | $40M | $40M | $39M | · | · | · | $38M | · | · | · | · | · | · | · | · | · | |
| Paid-in Capital | $12.39B | $12.25B | $11.44B | · | · | · | $9.99B | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $15.44B | $15.46B | $14.86B | · | · | · | $14.05B | · | · | · | · | · | · | · | · | · | |
| Treasury Stock | $2.02B | $2.02B | $2.02B | · | · | · | $2.02B | · | · | · | · | · | · | · | · | · | |
| AOCI | $12M | $12M | $15M | · | · | · | $29M | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $25.72B | $25.60B | $24.19B | $24.17B | $23.76B | $23.78B | $21.96B | $21.90B | $21.56B | $21.61B | · | $21.08B | $20.80B | $20.84B | $20.89B | $20.75B | |
| Liabilities + Equity | $76.46B | $74.74B | $74.60B | $71.84B | $71.50B | $70.69B | $70.56B | $68.64B | $67.92B | $66.68B | · | $64.41B | $63.77B | $62.80B | · | $65.76B | |
| Shares Outstanding | 370,000,000 | 368,000,000 | 361,000,000 | 361,000,000 | 361,000,000 | 360,000,000 | 347,000,000 | 346,000,000 | 346,000,000 | 346,000,000 | 345,000,000 | 345,000,000 | 344,000,000 | 346,000,000 | 355,000,000 | 355,000,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $578M | $572M | $595M | $586M | $576M | $564M | $554M | $550M | $512M | $539M | $524M | $512M | $496M | $499M | $463M | $525M | |
| Deferred Tax | $100M | $351M | $92M | $197M | $54M | $247M | $-32M | $287M | $-27M | $188M | $33M | $248M | $-68M | $-81M | $118M | $167M | |
| Operating Cash Flow | $1.80B | $174M | $1.48B | $504M | $1.98B | $837M | $1.31B | $392M | $1.34B | $573M | $975M | $17M | $1.07B | $92M | $1.32B | $661M | |
| Investing Cash Flow | $-1.42B | $-936M | $-1.46B | $-1.13B | $-1.42B | $-1.23B | $-1.38B | $-1.27B | $-1.28B | $-1.34B | $-1.35B | $-1.10B | $-1.17B | $2.62B | $-1.22B | $-1.23B | |
| Debt Issued | · | · | $900M | $250M | · | · | $1.45B | $125M | $1.40B | $0 | $1.55B | $0 | $0 | $500M | $800M | $0 | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $0 | · | · | · | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | $15M | $15M | $15M | · | $14M | $12M | $15M | · | $14M | |
| Stock Repurchased | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.00B | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | $15M | · | · | · | · | · | · | |
| Dividends Paid | $316M | $308M | $295M | $295M | $294M | $282M | $276M | $275M | $275M | $274M | $267M | $267M | $278M | $284M | $277M | $268M | |
| Financing Cash Flow | $944M | $-721M | $1.43B | $-698M | $592M | $-579M | $1.30B | $-530M | $1.27B | $-249M | $1.03B | $-327M | $1.28B | $-3.47B | $1.19B | $-432M | |
| Net Change in Cash | $1.32B | $-1.48B | $1.45B | $-1.32B | $1.15B | $-973M | $1.23B | $-1.41B | $1.33B | $-1.02B | $649M | $-1.41B | $1.18B | $-756M | $1.29B | $-999M | |
| Taxes Paid | $26M | $-7M | $2M | $14M | $-148M | $-33M | $1M | $2M | $1M | $3M | $37M | $139M | $211M | $10M | $17M | $11M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 13.6% | 23.1% | · | 21.4% | 9.9% | 23.4% | · | 21.1% | 9.9% | 23.6% | · | 18.6% | 9.7% | · | · | 21.3% | |
| Net Margin | 7.6% | 18.1% | · | 15.2% | 6.8% | 16.5% | · | 14.4% | 6.3% | 16.8% | · | 13.6% | 7.7% | · | · | 14.7% | |
| Pretax Margin | 10.0% | 24.1% | · | 19.7% | 8.2% | 21.5% | · | 17.6% | 6.0% | 21.1% | · | 17.3% | 8.7% | · | · | 18.7% | |
| EBITDA Margin | 13.6% | 23.1% | · | 21.4% | 9.9% | 23.4% | · | 21.1% | 9.9% | 23.6% | · | 18.6% | 9.7% | · | · | 21.3% | |
| ROA | 0.42% | 1.3% | · | 0.98% | 0.35% | 1.1% | · | 0.88% | 0.31% | 1.1% | · | 0.81% | 0.35% | 2.3% | · | 0.95% | |
| ROE | 1.2% | 3.7% | · | 3.0% | 1.1% | 3.5% | · | 2.7% | 0.95% | 3.4% | · | 2.5% | 1.1% | · | · | 3.0% | |
| ROIC | 1.6% | 3.4% | · | 3.0% | 1.2% | 3.6% | · | 1.5% | 0.71% | 1.8% | · | 1.3% | 0.58% | · | · | 1.6% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | 1.2 | · | 1.1 | 1.1 | 1.3 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | 1.0 | · | · | 0.8 | |
| Quick Ratio | 0.8 | 0.6 | · | 0.5 | 0.7 | 0.7 | · | 0.4 | 0.6 | 0.4 | · | 0.4 | 0.6 | · | · | 0.3 | |
| Debt / Equity | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.0 | · | 1.2 | 1.2 | 1.1 | · | 1.1 | 1.1 | · | · | 1.2 | |
| LT Debt / Equity | · | · | · | · | · | · | · | 1.1 | 1.1 | 1.0 | · | 1.0 | 1.0 | · | · | 1.1 | |
| Interest Coverage | 1.8 | 3.8 | · | 3.1 | 1.2 | 3.6 | · | 2.8 | 1.1 | 3.5 | · | 2.8 | 1.2 | · | · | 4.5 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.0 | 0.1 | · | 0.1 | 0.0 | · | · | 0.1 | |
| Receivables Turnover | 1.6 | 1.8 | · | 1.8 | 1.5 | 1.8 | · | 1.8 | 1.6 | 1.8 | · | 1.9 | 1.6 | · | · | 2.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $69.51 | $69.55 | · | $66.95 | $65.81 | $66.06 | · | $63.29 | $62.31 | $62.47 | · | $61.10 | $60.48 | · | · | $58.45 | |
| Revenue / Share | $11.00 | $13.98 | · | $12.52 | $9.94 | $13.66 | · | $11.78 | $9.28 | $12.34 | · | $11.17 | $8.47 | · | · | $11.70 | |
| Cash Flow / Share | · | $0.48 | · | · | · | $2.38 | · | · | · | $1.65 | · | · | · | · | · | · | |
| Cash / Share | $3.97 | $0.40 | · | $0.50 | $4.17 | $1.00 | · | $0.27 | $4.34 | $0.49 | · | $1.56 | $5.68 | · | · | $0.22 | |
| Dividend Paid / Share | · | · | · | $0.85 | $0.85 | $0.85 | · | $0.83 | $0.83 | $0.83 | · | $0.81 | $0.81 | $0.81 | · | $0.79 | |
| EPS (TTM) | $6.08 | $5.93 | · | $5.72 | $5.51 | $5.41 | · | $5.34 | $5.17 | $5.24 | · | $6.74 | $6.94 | $7.01 | · | $4.77 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $17.69B | $17.21B | · | $16.59B | $16.15B | $15.77B | · | $15.04B | $14.82B | $14.54B | · | $15.25B | $15.54B | $16.01B | · | $15.05B | |
| Net Income TTM | $2.22B | $2.16B | · | $2.04B | $1.94B | $1.89B | · | $1.84B | $1.78B | $1.81B | · | $2.38B | $2.46B | $2.49B | · | $1.69B | |
| Market Cap | $40.93B | $41.65B | · | $36.29B | $36.23B | $39.81B | · | $36.03B | $30.94B | $31.42B | · | $29.51B | $31.10B | · | · | $30.44B | |
| Enterprise Value | $40.18B | $42.37B | · | $36.66B | $35.94B | $39.80B | · | $61.43B | $55.20B | $55.48B | · | $51.50B | $51.74B | · | · | $54.66B | |
| P/E | 18.2 | 19.1 | · | 17.6 | 18.2 | 20.4 | · | 19.5 | 17.3 | 17.3 | · | 12.7 | 13.0 | 13.6 | · | 18.0 | |
| P/S | 2.3 | 2.4 | · | 2.2 | 2.2 | 2.5 | · | 2.4 | 2.1 | 2.2 | · | 1.9 | 2.0 | · | · | 2.0 | |
| P/B | 1.6 | 1.6 | · | 1.5 | 1.5 | 1.7 | · | 1.6 | 1.4 | 1.5 | · | 1.4 | 1.5 | · | · | 1.5 | |
| P / Tangible Book | 1.6 | 1.7 | · | 1.5 | 1.6 | 1.7 | · | 1.7 | 1.5 | 1.5 | · | 1.4 | 1.5 | 1.6 | · | 1.6 | |
| P / Cash Flow | · | 239.4 | · | · | · | 47.6 | · | · | · | 54.8 | · | · | · | · | · | · | |
| EV / Revenue | 2.3 | 2.5 | · | 2.2 | 2.2 | 2.5 | · | 4.1 | 3.7 | 3.8 | · | 3.4 | 3.3 | · | · | 3.6 | |
| Dividend Yield | 3.0% | 2.9% | · | 3.2% | 3.1% | 2.8% | · | 3.0% | 3.5% | 3.5% | · | 3.8% | 3.6% | · | · | 3.5% | |
| Earnings Yield | 5.5% | 5.2% | · | 5.7% | 5.5% | 4.9% | · | 5.1% | 5.8% | 5.8% | · | 7.9% | 7.7% | 7.3% | · | 5.6% | |
| Payout Ratio | · | 33.3% | · | · | · | 35.6% | · | · | · | 38.1% | · | · | · | · | · | · | |
| Annual Payout | $1.21B | $1.19B | · | $1.15B | $1.13B | $1.11B | · | $1.09B | $1.08B | $1.09B | · | $1.11B | $1.11B | $1.10B | · | $1.07B |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenue | $16.92B | · | · | $15.26B | · |
| Operating Margin % | 17.3% | · | · | 17.5% | · |
| Net Income | $2.02B | · | · | $1.82B | · |
| Diluted EPS | $5.64 | · | · | $5.24 | · |
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Debt / Equity | 1.1 | · | · | 1.2 | · |
| Current Ratio | 1.0 | · | · | 1.0 | · |
| Quick Ratio | 0.6 | · | · | 0.6 | · |
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 1,534 filers · $35.0B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 114 (-87 vs prior Q) | 90 (+1 vs prior Q) | 614 (+50 vs prior Q) | 396 (-3 vs prior Q) | +18.6M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $4,609,490,666 | 41,665,829 | 13.16% | Shares |
| VANGUARD GROUP INC | $4,532,571,592 | 45,636,041 | 12.94% | Shares |
| STATE STREET CORP | $2,776,150,879 | 25,094,015 | 7.93% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,664,545,344 | 24,085,197 | 7.61% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,115,007,635 | 19,117,849 | 6.04% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,177,831,569 | 10,685,732 | 3.36% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $931,358,347 | 8,418,678 | 2.66% | Shares |
| DEUTSCHE BANK AG\ | $749,183,705 | 6,771,976 | 2.14% | Shares |
| MORGAN STANLEY | $610,464,790 | 5,518,074 | 1.74% | Shares |
| NORGES BANK | $516,782,711 | 4,671,271 | 1.48% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $508,706,977 | 4,494,672 | 1.45% | Shares |
| Legal & General Group Plc | $494,352,028 | 4,468,517 | 1.41% | Shares |
| NORTHERN TRUST CORP | $439,459,973 | 3,972,340 | 1.25% | Shares |
| Invesco Ltd. | $412,257,304 | 3,726,451 | 1.18% | Shares |
| Allianz Asset Management GmbH | $393,733,720 | 3,559,014 | 1.12% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $393,519,716 | 3,557,080 | 1.12% | Shares |
| ATLAS Infrastructure Partners (UK) Ltd. | $378,182,460 | 3,418,444 | 1.08% | Shares |
| GOLDMAN SACHS GROUP INC | $375,722,248 | 3,396,206 | 1.07% | Shares |
| UBS Group AG | $359,694,748 | 3,251,331 | 1.03% | Shares |
| Amundi | $316,411,573 | 2,860,038 | 0.90% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $283,530,972 | 2,562,876 | 0.81% | Shares |
| BARCLAYS PLC | $248,302,729 | 2,244,443 | 0.71% | Shares |
| JPMORGAN CHASE & CO | $232,671,007 | 2,072,053 | 0.66% | Shares |
| Bank of New York Mellon Corp | $231,014,178 | 2,088,169 | 0.66% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $228,949,117 | 2,069,503 | 0.65% | Shares |
| CITADEL ADVISORS LLC | $218,926,592 | 1,978,908 | 0.63% | Shares |
| FMR LLC | $193,548,644 | 1,749,513 | 0.55% | Shares |
| ProShare Advisors LLC | $176,322,758 | 1,593,806 | 0.50% | Shares |
| HSBC HOLDINGS PLC | $169,425,325 | 1,529,164 | 0.48% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $168,433,353 | 1,522,268 | 0.48% | Shares |
| Nuveen, LLC | $165,553,002 | 1,496,457 | 0.47% | Shares |
| FIRST TRUST ADVISORS LP | $161,672,386 | 1,461,379 | 0.46% | Shares |
| ONTARIO TEACHERS PENSION PLAN BOARD | $153,588,293 | 1,388,306 | 0.44% | Shares |
| Robeco Institutional Asset Management B.V. | $150,871,664 | 1,363,750 | 0.43% | Shares |
| BANK OF AMERICA CORP /DE/ | $149,070,157 | 1,347,466 | 0.43% | Shares |
| PFA Pension, Forsikringsaktieselskab | $146,638,259 | 1,325,484 | 0.42% | Shares |
| Quantinno Capital Management LP | $127,947,296 | 1,156,533 | 0.37% | Shares |
| Swiss National Bank | $114,966,696 | 1,039,200 | 0.33% | Shares |
| ROYAL BANK OF CANADA | $113,172,000 | 1,022,976 | 0.32% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $109,276,995 | 987,770 | 0.31% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $107,784,154 | 974,276 | 0.31% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $105,924,685 | 957,468 | 0.30% | Shares |
| TWO SIGMA INVESTMENTS, LP | $103,538,617 | 935,900 | 0.30% | Shares |
| LPL Financial LLC | $93,687,246 | 846,852 | 0.27% | Shares |
| Vanguard Global Advisers, LLC | $88,362,172 | 798,718 | 0.25% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $88,168,902 | 796,971 | 0.25% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $87,936,136 | 794,867 | 0.25% | Shares |
| DANSKE BANK A/S | $87,306,209 | 789,173 | 0.25% | Shares |
| California Public Employees Retirement System | $86,516,311 | 782,033 | 0.25% | Shares |
| RHUMBLINE ADVISERS | $86,513,093 | 782,005 | 0.25% | Shares |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person | March 13, 2003 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Oct. 10, 2002 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 63 insiders · 32 officers · 24 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Michele O'Connell | President & CEO, O&R | Feb. 18, 2026 A | 19,456 | 0 | 0 | $0 |
| Stuart Nachmias | President & CEO CET | Feb. 18, 2026 A | 9,742 | 0 | 0 | $0 |
| Timothy Cawley | Chairman, President & CEO | Feb. 18, 2026 A | 126,709 | 0 | 0 | $0 |
| Mark Noyes | President & CEO, CECEB | Feb. 15, 2023 A | 27,885 | 0 | 0 | $0 |
| Joseph P Oates | Chairman, President & CEO CET | Dec. 31, 2019 P | 24,655 | 0 | 0 | $0 |
| Kirkland B Andrews | SVP & CFO | July 8, 2026 F | 33,616 | 0 | 0 | $0 |
| Robert N Hoglund | SVP & CFO | April 30, 2024 P | 45,076 | 0 | 0 | $0 |
| Matthew Ketschke | President, CECONY | Feb. 18, 2026 A | 42,425 | 0 | 0 | $0 |
| Robert Sanchez | President, Shared Services | Feb. 18, 2026 A | 21,746 | 0 | 0 | $0 |
| Longhi G William | President, Shared Services | Sept. 23, 2015 I | 37,655 | 0 | 0 | $0 |
| Louis L Rana | President & COO (CECONY) | Dec. 3, 2009 S | 10,192 | 0 | 0 | $0 |
| Stephen Bram | Energy & Comm Group President | Dec. 11, 2007 M | 28,430 | 0 | 0 | $0 |
| Joseph Miller | VP & Controller | Sept. 15, 2026 P | 5,266 | 4 | 0 | $427 |
| Deneen L Donnley | SVP and General Counsel | March 12, 2026 S | 32,453 | 0 | 1 | $-218,993 |
| Kamran Ziaee | SVP & Ch.Information Officer | Feb. 18, 2026 A | · | 0 | 0 | $0 |
| Jennifer Hensley | SVP, Corporate Affairs | Feb. 18, 2026 A | 2,259 | 0 | 0 | $0 |
| Mary Kelly | SVP, Gas Operations | Dec. 31, 2024 M | 8,033 | 0 | 0 | $0 |
| Nancy Shannon | SVP, Utility Shared Services | March 29, 2024 P | 363 | 0 | 0 | $0 |
| Christina Ho | VP, Strategic Planning | Dec. 29, 2023 P | 250 | 0 | 0 | $0 |
| Gurudatta D Nadkarni | VP, Strategic Planning | March 31, 2023 P | 9,359 | 0 | 0 | $0 |
| Yukari Saegusa | Vice President and Treasurer | Feb. 15, 2023 A | 2,037 | 0 | 0 | $0 |
| Lore De La Bastide | SVP, Utility Shared Services | June 30, 2022 P | 846 | 0 | 0 | $0 |
| Frances Resheske | SVP, Corporate Affairs | June 30, 2022 P | 56,773 | 0 | 0 | $0 |
| Elizabeth D Moore | SVP & General Counsel | Dec. 31, 2019 P | 42,338 | 0 | 0 | $0 |
| Shukla Saumil P | SVP, Utility Shared Services | June 30, 2019 P | 5,297 | 0 | 0 | $0 |
| Scott L. Sanders | Vice President and Treasurer | Feb. 17, 2016 M | 0 | 0 | 0 | $0 |
| Luther Tai | SVP Enterprise Shared Services | April 30, 2013 P | 33,975 | 0 | 0 | $0 |
| Joann F Ryan | SVP, Business Shared Services | Aug. 31, 2012 P | 11,299 | 0 | 0 | $0 |
| James P O'Brien | VP & Treasurer | Jan. 31, 2010 P | 1,477 | 0 | 0 | $0 |
| Charles E Mctiernan JR | General Counsel | Jan. 31, 2009 P | 475 | 0 | 0 | $0 |
| Edward J Rasmussen | VP, Controller & CAO | Jan. 29, 2009 M | 8,090 | 0 | 0 | $0 |
| Joan S Freilich | Vice Chairman | Jan. 19, 2006 M | 11,558 | 0 | 0 | $0 |
| Michael W Ranger | Director | Sept. 30, 2026 A | 103,220 | 0 | 0 | $0 |
| Weinstein Tali Farhadian | Director | July 1, 2026 A | 1,277 | 0 | 0 | $0 |
| Catherine Zoi | Director | May 19, 2026 A | 5,582 | 0 | 0 | $0 |
| Dwight A Mcbride | Director | May 19, 2026 A | 10,876 | 0 | 0 | $0 |
| Karol V Mason | Director | May 19, 2026 A | 11,948 | 0 | 0 | $0 |
| Deirdre Stanley | Director | May 19, 2026 A | 30,449 | 0 | 0 | $0 |
| Brendan Thomas Cavanagh | Director | May 19, 2026 A | 2,606 | 0 | 0 | $0 |
| William J Mulrow | Director | May 19, 2026 A | 12,598 | 0 | 1 | $-892,553 |
| John F Killian | Director | May 19, 2026 A | 40,533 | 0 | 1 | $-220,522 |
| Frederick L Sutherland | Director | May 19, 2026 A | 93,043 | 0 | 0 | $0 |
| Linda S Sanford | Director | May 19, 2026 A | 29,711 | 0 | 0 | $0 |
| Ellen V Futter | Director | May 21, 2024 A | 45,954 | 0 | 0 | $0 |
| Armando J Olivera | Director | May 21, 2024 A | 25,585 | 0 | 0 | $0 |
| John Mcavoy | Director | Feb. 15, 2023 M | 14,930 | 0 | 0 | $0 |
| George Campbell JR | Director | May 19, 2020 A | 46,895 | 0 | 0 | $0 |
| Vincent A Calarco | Director | May 16, 2017 A | 36,139 | 0 | 0 | $0 |
| Michael J Del Giudice | Director | May 16, 2017 A | 45,252 | 0 | 0 | $0 |
| Kevin Burke | Director | March 16, 2015 F | 29,850 | 0 | 0 | $0 |
| Sally Hernandez | Director | May 20, 2014 A | 36,253 | 0 | 0 | $0 |
| Gordon J Davis | Director | March 31, 2014 P | 28,670 | 0 | 0 | $0 |
| Eugene R Mcgrath | Director | May 21, 2013 A | 55,224 | 0 | 0 | $0 |
| Dr Peter W Likins | Director | May 19, 2008 A | 25,623 | 0 | 0 | $0 |
| Richard A Voell | Director | July 6, 2004 P | 24,279 | 0 | 0 | $0 |
| Robert Muccilo | · | April 8, 2021 S | 8,009 | 0 | 0 | $0 |
| Craig S Ivey | · | March 5, 2018 S | 74,170 | 0 | 0 | $0 |
| John F. Hennessy III | · | Sept. 29, 2014 S | 12,310 | 0 | 0 | $0 |
| John D Mcmahon | · | May 12, 2011 M | 35,027 | 0 | 0 | $0 |
| Stephen R Volk | · | Aug. 5, 2008 S | 0 | 0 | 0 | $0 |
| Frederic V Salerno | · | Oct. 1, 2007 S | 8,070 | 0 | 0 | $0 |
| Hyman Schoenblum | · | July 11, 2006 M | 0 | 0 | 0 | $0 |
| Robert Stelben | · | Jan. 15, 2004 A | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 146 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FXU · First Trust Exchange-Traded AlphaDE… | 4.17% | 318,437 NS | July 31, 2026 | N-PORT |
| ZAP · Global X Funds | 4.08% | 173,260 NS | July 31, 2026 | N-PORT |
| RSPU · Invesco Exchange-Traded Fund Trust | 3.33% | 151,928 SH | Oct. 2, 2026 | Daily |
| FUTY · FIDELITY COVINGTON TRUST | 2.61% | 557,700 NS | July 31, 2026 | N-PORT |
| VPU · VANGUARD WORLD FUND | 2.60% | 2,522,196 SH | Aug. 19, 2026 | Daily |
| IDU · iShares Trust | 2.52% | 305,498 SH | Sept. 11, 2026 | Daily |
| UTSL · Direxion Shares ETF Trust | 2.25% | 7,819 NS | July 31, 2026 | N-PORT |
| NUMV · Nushares ETF Trust | 1.89% | 77,084 NS | July 31, 2026 | N-PORT |
| JXI · iShares Trust | 1.80% | 50,743 SH | Sept. 10, 2026 | Daily |
| POWR · iShares, Inc. | 1.58% | 67,626 SH | Sept. 11, 2026 | Daily |
| NUDV · Nushares ETF Trust | 1.37% | 6,297 NS | July 31, 2026 | N-PORT |
| KNG · First Trust Exchange-Traded Fund IV | 1.33% | 433,250 NS | July 31, 2026 | N-PORT |
| NULV · Nushares ETF Trust | 1.23% | 248,607 NS | July 31, 2026 | N-PORT |
| USMV · iShares Trust | 1.21% | 2,688,730 SH | Sept. 11, 2026 | Daily |
| ESMV · iShares Trust | 1.20% | 876 SH | Sept. 11, 2026 | Daily |
| SPLV · Invesco Exchange-Traded Fund Trust … | 1.19% | 795,304 SH | Oct. 2, 2026 | Daily |
| FDIV · EA Series Trust | 1.00% | 5,404 NS | July 31, 2026 | N-PORT |
| ESLV · Strategy Shares | 0.80% | 1,054 NS | July 31, 2026 | N-PORT |
| JOET · Virtus ETF Trust II | 0.77% | 17,148 NS | July 31, 2026 | N-PORT |
| ACWV · iShares, Inc. | 0.77% | 240,770 SH | Sept. 11, 2026 | Daily |
| UPSD · ETF Series Solutions | 0.74% | 7,908 NS | July 31, 2026 | N-PORT |
| QLV · FlexShares Trust | 0.73% | 10,920 NS | July 31, 2026 | N-PORT |
| INFO · Harbor ETF Trust | 0.72% | 55,425 NS | July 31, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 0.70% | 2,367,321 SH | Aug. 19, 2026 | Daily |
| FTA · First Trust Exchange-Traded AlphaDE… | 0.68% | 86,934 NS | July 31, 2026 | N-PORT |
| NULC · Nushares ETF Trust | 0.61% | 3,928 NS | July 31, 2026 | N-PORT |
| QLC · FlexShares Trust | 0.56% | 51,968 NS | July 31, 2026 | N-PORT |
| IMCV · iShares Trust | 0.55% | 59,988 SH | Sept. 11, 2026 | Daily |
| QDEF · FlexShares Trust | 0.50% | 25,092 NS | July 31, 2026 | N-PORT |
| QUAL · iShares Trust | 0.48% | 2,090,909 SH | Sept. 11, 2026 | Daily |
| RPV · Invesco Exchange-Traded Fund Trust | 0.45% | 72,634 SH | Oct. 2, 2026 | Daily |
| EQIN · Columbia ETF Trust I | 0.42% | 11,821 NS | July 31, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.40% | 26,041 NS | July 31, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.39% | 7,986,808 SH | Aug. 19, 2026 | Daily |
| IWS · iShares Trust | 0.39% | 551,079 SH | Sept. 11, 2026 | Daily |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.37% | 15,612 NS | July 31, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.35% | 50,947 NS | July 31, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.35% | 14,838 NS | July 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.34% | 5,251 NS | July 31, 2026 | N-PORT |
| FEUS · FlexShares Trust | 0.29% | 3,025 NS | July 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.29% | 1,510,792 SH | Sept. 11, 2026 | Daily |
| DGRO · iShares Trust | 0.29% | 1,166,229 SH | Sept. 11, 2026 | Daily |
| HAPI · Harbor ETF Trust | 0.28% | 12,677 NS | July 31, 2026 | N-PORT |
| IMCB · iShares Trust | 0.27% | 43,154 SH | Sept. 11, 2026 | Daily |
| REVS · Columbia ETF Trust I | 0.27% | 8,201 NS | July 31, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.27% | 20,371 NS | July 31, 2026 | N-PORT |
| VFMV · VANGUARD WELLINGTON FUND | 0.25% | 9,573 SH | Aug. 19, 2026 | Daily |
| VLUE · iShares Trust | 0.23% | 204,586 SH | Sept. 11, 2026 | Daily |
| HUSV · First Trust Exchange-Traded Fund III | 0.23% | 1,532 NS | July 31, 2026 | N-PORT |
| XOEF · iShares Trust | 0.22% | 464 SH | Sept. 11, 2026 | Daily |
| FDLO · FIDELITY COVINGTON TRUST | 0.22% | 28,414 NS | July 31, 2026 | N-PORT |
| FBUF · Fidelity Greenwood Street Trust | 0.21% | 458 NS | July 31, 2026 | N-PORT |
| LRGF · iShares Trust | 0.20% | 70,198 SH | Sept. 11, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 152,295 NS | July 31, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.20% | 36,132 SH | Sept. 11, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.20% | 15,243 SH | Oct. 2, 2026 | Daily |
| FVAL · FIDELITY COVINGTON TRUST | 0.20% | 24,081 NS | July 31, 2026 | N-PORT |
| RSP · Invesco Exchange-Traded Fund Trust | 0.20% | 1,815,697 SH | Oct. 2, 2026 | Daily |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.19% | 265,000 | Oct. 2, 2026 | Daily |
| SIZE · iShares Trust | 0.19% | 7,443 SH | Sept. 11, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.17% | 1,470,176 SH | Aug. 19, 2026 | Daily |
| VTV · VANGUARD INDEX FUNDS | 0.15% | 3,506,851 SH | Aug. 19, 2026 | Daily |
| RECS · Columbia ETF Trust I | 0.15% | 78,568 NS | July 31, 2026 | N-PORT |
| VMAX · Lattice Strategies Trust | 0.14% | 650 NS | July 31, 2026 | N-PORT |
| PFM · Invesco Exchange-Traded Fund Trust | 0.14% | 10,497 SH | Oct. 2, 2026 | Daily |
| VOOV · VANGUARD ADMIRAL FUNDS | 0.14% | 84,935 SH | Aug. 19, 2026 | Daily |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.14% | 13,011 SH | Oct. 2, 2026 | Daily |
| ESUM · Strategy Shares | 0.14% | 2,284 NS | July 31, 2026 | N-PORT |
| IVE · iShares Trust | 0.13% | 611,470 SH | Sept. 11, 2026 | Daily |
| IUSV · iShares Trust | 0.12% | 321,662 SH | Sept. 11, 2026 | Daily |
| SUSL · iShares Trust | 0.12% | 13,007 SH | Sept. 11, 2026 | Daily |
| ILCV · iShares Trust | 0.11% | 14,331 SH | Sept. 11, 2026 | Daily |
| DSI · iShares Trust | 0.11% | 56,536 SH | Sept. 11, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.11% | 222,583 SH | Aug. 19, 2026 | Daily |
| PRF · Invesco Exchange-Traded Fund Trust | 0.11% | 101,346 SH | Oct. 2, 2026 | Daily |
| IWD · iShares Trust | 0.11% | 818,062 SH | Sept. 11, 2026 | Daily |
| ESLG · Strategy Shares | 0.10% | 220 NS | July 31, 2026 | N-PORT |
| EVUS · iShares Trust | 0.10% | 3,556 SH | Sept. 11, 2026 | Daily |
| EGLE · Global X Funds | 0.09% | 19 NS | July 31, 2026 | N-PORT |
| JFLI · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 397 NS | July 31, 2026 | N-PORT |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.09% | 81,721 SH | Oct. 2, 2026 | Daily |
| USCL · iShares Trust | 0.07% | 19,598 SH | Sept. 11, 2026 | Daily |
| TOPC · iShares Trust | 0.07% | 226 SH | Sept. 11, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.07% | 15,331 NS | July 31, 2026 | N-PORT |
| VRIG · Invesco Actively Managed Exchange-T… | 0.07% | 1,324,000 | Sept. 30, 2026 | Daily |
| XVV · iShares Trust | 0.07% | 4,227 SH | Sept. 11, 2026 | Daily |
| XCLR · Global X Funds | 0.07% | 22 NS | July 31, 2026 | N-PORT |
| XTR · Global X Funds | 0.06% | 28 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.06% | 72,118 NS | July 31, 2026 | N-PORT |
| CATH · Global X Funds | 0.06% | 7,501 NS | July 31, 2026 | N-PORT |
| XYLD · Global X Funds | 0.06% | 18,666 NS | July 31, 2026 | N-PORT |
| BBUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 50,811 NS | July 31, 2026 | N-PORT |
| XYLG · Global X Funds | 0.06% | 365 NS | July 31, 2026 | N-PORT |
| VOTE · TCW ETF Trust | 0.06% | 6,235 NS | July 31, 2026 | N-PORT |
| CHRI · Global X Funds | 0.06% | 45 NS | July 31, 2026 | N-PORT |
| BKLC · BNY Mellon ETF Trust | 0.06% | 30,677 NS | July 31, 2026 | N-PORT |
| PTLC · Pacer Funds Trust | 0.06% | 18,258 NS | July 31, 2026 | N-PORT |
| LGDX · Tidal Trust III | 0.06% | 789 NS | July 31, 2026 | N-PORT |
| VOO · VANGUARD INDEX FUNDS | 0.06% | 9,576,657 SH | Aug. 19, 2026 | Daily |
| VV · VANGUARD INDEX FUNDS | 0.06% | 430,381 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.06% | 11,700,330 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.06% | 60,819 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.06% | 31,008 SH | Aug. 19, 2026 | Daily |
| IVV · iShares Trust | 0.06% | 4,645,246 SH | Sept. 11, 2026 | Daily |
| TOV · EA Series Trust | 0.06% | 1,334 NS | July 31, 2026 | N-PORT |
| XRMI · Global X Funds | 0.06% | 273 NS | July 31, 2026 | N-PORT |
| ILCB · iShares Trust | 0.06% | 7,142 SH | Sept. 11, 2026 | Daily |
| PBP · Invesco Exchange-Traded Fund Trust | 0.06% | 2,201 SH | Oct. 2, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.06% | 112,266 NS | July 31, 2026 | N-PORT |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.06% | 9,433 SH | Oct. 2, 2026 | Daily |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.06% | 63,830 SH | Oct. 2, 2026 | Daily |
| SPUU · Direxion Shares ETF Trust | 0.06% | 1,391 NS | July 31, 2026 | N-PORT |
| QDPL · Pacer Funds Trust | 0.06% | 8,879 NS | July 31, 2026 | N-PORT |
| VOXP · Advisors Series Trust | 0.06% | 30 NS | July 31, 2026 | N-PORT |
| IWB · iShares Trust | 0.06% | 254,642 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.06% | 15,774 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.05% | 101,267 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.05% | 479,806 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.05% | 10,428 NS | July 31, 2026 | N-PORT |
| HCMT · Direxion Shares ETF Trust | 0.05% | 2,565 NS | July 31, 2026 | N-PORT |
| PHDG · Invesco Actively Managed Exchange-T… | 0.05% | 293 SH | Oct. 2, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.05% | 14,471 NS | July 31, 2026 | N-PORT |
| SPXL · Direxion Shares ETF Trust | 0.05% | 28,814 NS | July 31, 2026 | N-PORT |
| TOK · iShares Trust | 0.04% | 983 SH | Sept. 11, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.04% | 192,983 NS | July 31, 2026 | N-PORT |
| URTH · iShares, Inc. | 0.04% | 33,353 SH | Sept. 10, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.04% | 17,575 SH | Oct. 2, 2026 | Daily |
| ACWI · iShares Trust | 0.04% | 117,611 SH | Sept. 10, 2026 | Daily |
| CRBN · iShares Trust | 0.04% | 3,835 SH | Sept. 10, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.03% | 297,545 SH | Aug. 19, 2026 | Daily |
| DIVB · iShares Trust | 0.02% | 3,523 SH | Sept. 11, 2026 | Daily |
| HDUS · Lattice Strategies Trust | 0.01% | 182 NS | July 31, 2026 | N-PORT |
| ACVF · ETF Opportunities Trust | 0.01% | 112 NS | July 31, 2026 | N-PORT |
| GTO · Invesco Actively Managed Exchange-T… | 0.00% | 3,500 | Sept. 30, 2026 | Daily |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCRB · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VPLS · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| IFRA · iShares Trust | · | 449,800 SH | Sept. 11, 2026 | Daily |
ED Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
16 analysts · 2026-09-28Mean target $110.03 +6.4%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ED | $35.85B | 17.6 | 10.9% | 12.0% | 8.4% | · |
| D | $51.50B | 17.0 | 14.2% | 18.2% | 10.7% | · |
| SRE | · | · | · | · | · | · |
| WEC | $34.32B | 21.9 | 14.0% | 15.9% | 11.2% | · |
| PEG | $39.99B | 19.0 | 18.2% | 17.3% | 12.6% | · |
| AEE | $27.60B | 18.7 | 15.4% | 16.6% | 11.5% | · |
| DTE | · | · | · | · | · | · |
| CNP | $25.03B | 24.0 | 8.3% | 11.2% | 9.5% | · |
| CMS | $21.43B | 19.8 | 13.6% | 12.5% | 12.3% | · |
| NI | $19.98B | 21.4 | 23.5% | 14.2% | 10.2% | · |
| BKH | $5.24B | 17.4 | 8.6% | 12.6% | 8.0% | · |
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