CONSOLIDATED EDISON INC
ED· NYSE· Electric & Other Services Combined
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- –
- ROIC, 5 yr avg
- 5.1%
- Revenue, 5 yr CAGR
- +7.2%
We record prices for the companies we cover; ED is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 358.7M
- Revenue
- $17.0B
- Free cash flow
- –
- Owner earnings
- –
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 17.2%
- Net
- 11.9%
- Free cash flow
- –
- Owner earnings
- –
- Stock pay
- 0.3%
Returns
- ROIC, FY2025
- 4.7%
- ROIC, 5 yr avg
- 5.1%
- ROE, FY2025
- 8.4%
- ROE, 5 yr avg
- 8.7%
Growth (CAGR)
- Revenue, 3 yr
- 3.3%
- Revenue, 5 yr
- 7.2%
- Revenue, 9 yr
- 3.9%
- Diluted EPS, 3 yr
- 6.6%
- Diluted EPS, 5 yr
- 11.5%
- Diluted EPS, 9 yr
- 3.6%
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $1.6B
- Total debt
- $25.8B
- Net debt
- $24.2B
- Debt/Equity
- 1.1x
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 57.6%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 1.3%
Financials: ten years from the 10-Ks
Revenue
$17.0B
+3.9% a year over 9 years
FY2016FY2025
Margins
Operating17.2%Net11.9%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow–Owner earnings–
FY2025
FY2016FY2025
Diluted shares
358.7M
+18.8% over 9 years, net dilution
FY2016FY2025
Return on invested capital
4.7%
FY2025
FY2016FY2025
Net debt (below zero)
-$24.2B
$24.2B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $12.1B | $12.0B | $11.9B | $12.1B | $12.0B | $13.5B | $15.5B | $14.5B | $15.5B | $17.0B |
| Revenue growth | -3.8% | -0.3% | -0.9% | 1.8% | -1.0% | 11.9% | 14.9% | -6.3% | 6.9% | 10.2% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 23.0% | 23.1% | 22.3% | 22.0% | 22.1% | 21.0% | 17.0% | 22.1% | 17.3% | 17.2% |
| Net income | $1.2B | $1.5B | $1.4B | $1.3B | $1.1B | $1.3B | $1.7B | $2.5B | $1.8B | $2.0B |
| Net margin | 10.3% | 12.7% | 11.6% | 11.1% | 9.2% | 10.0% | 10.7% | 17.4% | 11.8% | 11.9% |
| Diluted EPS | $4.12 | $4.94 | $4.42 | $4.08 | $3.28 | $3.85 | $4.66 | $7.21 | $5.24 | $5.64 |
| Return on invested capital? | 6.1% | 6.8% | 5.7% | 5.7% | 5.9% | 5.6% | 4.4% | 6.0% | 4.8% | 4.7% |
| Cash | ||||||||||
| Operating cash flow | $3.5B | $3.4B | $2.7B | $3.1B | $2.2B | $2.7B | $3.9B | $2.2B | $3.6B | $4.8B |
| Capital expenditure | $5.2B | $3.6B | $5.2B | $3.7B | $4.1B | $4.0B | $4.5B | – | – | – |
| Free cash flow | -$1.8B | -$239.0M | -$2.6B | -$542.0M | -$1.9B | -$1.2B | -$530.0M | – | – | – |
| Stock-based compensation | $50.0M | $63.0M | $14.0M | $47.0M | $17.0M | $35.0M | $64.0M | $53.0M | $35.0M | $55.0M |
| Owner earnings? | -$1.8B | -$302.0M | -$2.6B | -$589.0M | -$1.9B | -$1.3B | -$594.0M | – | – | – |
| Free cash flow per share | $-5.88 | $-0.77 | $-8.16 | $-1.64 | $-5.62 | $-3.52 | $-1.49 | – | – | – |
| Capital allocation | ||||||||||
| Dividends paid | $763.0M | $803.0M | $842.0M | $924.0M | $975.0M | $1.0B | $1.1B | $1.1B | $1.1B | $1.2B |
| Share repurchases | – | – | – | – | – | $0 | $0 | $1.0B | $0 | $0 |
| Diluted shares | 301.9M | 308.8M | 312.9M | 329.5M | 335.7M | 349.4M | 355.8M | 349.3M | 347.3M | 358.7M |
| Share count change? | 2.5% | 2.3% | 1.3% | 5.3% | 1.9% | 4.1% | 1.8% | -1.8% | -0.6% | 3.3% |
| Balance sheet | ||||||||||
| Cash and equivalents | $776.0M | $797.0M | $895.0M | $981.0M | $1.3B | $992.0M | $1.3B | $1.2B | $1.3B | $1.6B |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $15.8B | $16.6B | $20.7B | $21.7B | $24.2B | $24.5B | $26.5B | $24.5B | $26.9B | $25.8B |
| Net debt | $15.1B | $15.8B | $19.8B | $20.7B | $22.9B | $23.5B | $25.2B | $23.3B | $25.6B | $24.2B |
| Shareholders' equity | $14.3B | $15.4B | $16.7B | $18.0B | $18.8B | $20.0B | $20.7B | $21.2B | $22.0B | $24.2B |
Latest filings
| 2026-08-06 | 10-Q | Quarterly report |
| 2026-08-06 | 8-K | Earnings release |
| 2026-05-07 | 8-K | Earnings release |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-04-08 | DEF 14A | Proxy statement |
| 2026-02-19 | 10-K | Annual report |
| 2026-02-19 | 8-K | Earnings release |
| 2025-11-06 | 8-K | Earnings release |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-08-07 | 8-K | Earnings release |
More from our coverage
- MSFTPlatforms8.4MicrosoftThe most entrenched software franchise in the enterprise, now spending its cash flow on AI capacity; a great business we would own with a margin of safety, not at any price.Base value $410.29
- NVDAAI infrastructure8.4NVIDIAThe best business in technology at the top of its cycle: the moat is CUDA as much as silicon, but today's margins are a peak, not a floor.Base value $104.32
- AAPLHardware7.6AppleOne of the highest-quality businesses in the world growing in the low single digits; the price usually assumes more growth than the numbers show.Base value $134.27
- GOOGLPlatforms7.4AlphabetSearch pays for everything, and AI is both its biggest threat and its biggest opportunity; the price has to allow for search being worth less than it was.Base value $209.60
- NOWSoftware7.4ServiceNowA rare enterprise platform still growing above 20% with high retention; the free cash flow is real but stock pay takes a large share of it.Base value $189.13
- ADBESoftware7.4AdobeSuperb margins and a shrinking share count, priced for decline; the question is whether AI makes Adobe's tools more valuable or makes them unnecessary.Base value $449.35
