AMERICAN ELECTRIC POWER CO INC AEP

Utilities SIC 4911 - Electric Services NAICS Utilities › Electric Power Generation, Transmission and Distribution derived Nasdaq

AEP was incorporated under the laws of the State of New York in 1906 and reorganized in 1925. It is a public utility holding company that directly owns all of the outstanding common stock of the public utility subsidiaries identified below.

The service areas of AEP's public utility subsidiaries cover portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. Transmission networks are interconnected with extensive distribution facilities in the territories served. The public utility subsidiaries of AEP have traditionally provided electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers. Restructuring laws in Michigan, Ohio and the ERCOT area of Texas have caused AEP public utility subsidiaries in those states to unbundle previously integrated regulated rates for their retail customers.

Last close 129.69 2026-10-23
Market cap $70.56B 2026-03-31 share count
52-week range 112.53 - 140.58

Valuation FY2025 figures against the last close

P/S3.3x
P/E19.5x
P/FCF20.2x
EV/EBITDA13.6x
Dividend yield2.8%
Diluted EPS6.66

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $21.70B$19.97B$19.46B$19.39B$16.79B$14.92B$15.56B$16.20B$15.42B$16.38B
Total operating expenses $16.56B$15.42B$15.43B$16.16B$13.38B$11.93B$12.97B$13.51B$11.90B$15.22B
Operating income $5.32B$4.30B$3.56B$3.48B$3.41B$2.99B$2.59B$2.68B$3.52B$1.16B
Interest expense $2.03B$1.86B$1.81B$1.40B$1.20B$1.17B$1.07B$984.4M$895.0M$877.2M
Pre-tax income $3.83B$2.94B$2.27B$2.31B$2.60B$2.23B$1.90B$2.04B$2.90B$546.8M
Income tax $129.0M$39.0M$55.0M$5.4M$115.5M$40.5M$12.9M$115.3M$969.7M$73.7M
Net income $3.70B$2.98B$2.21B$2.31B$2.49B$2.20B$1.92B$1.93B$1.93B$618.0M
EPS, basic 6.705.604.264.514.974.443.893.903.891.24
EPS, diluted 6.665.584.244.494.964.423.883.903.881.24
Shares, diluted (wtd. avg.) 537.5M531.3M520.2M513.5M501.8M497.2M495.3M493.8M492.6M491.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $197.0M$203.0M$379.0M$557.0M$451.4M$438.3M$432.6M$444.1M$412.6M$403.5M
Short-term investments $220.0M$215.0M$214.3M$187.6M$220.4M$200.8M$202.7M$159.1M$161.7M$138.7M
Receivables $2.87B$2.63B$2.45B$2.67B$1.97B$1.84B$1.71B$1.93B$1.89B$1.92B
Total current assets $6.05B$5.79B$6.08B$6.78B$4.98B$4.35B$4.08B$4.11B$4.25B$6.03B
Property, plant and equipment $736.0M$715.0M$564.3M$73.34B$68.30B$63.90B$60.14B$55.10B$50.26B$45.64B
Goodwill $53.0M$53.0M$52.5M$52.5M$52.5M$52.5M$52.5M$52.5M$52.5M$52.5M
Total assets $114.46B$103.08B$96.68B$93.40B$87.67B$80.76B$75.89B$68.80B$64.73B$63.47B
Accounts payable $3.43B$2.64B$2.03B$2.67B$2.11B$1.71B$2.09B$1.87B$2.07B$1.69B
Short-term debt $3.19B$3.33B$2.49B$2.49B$2.35B$2.09B$1.60B$1.70B$1.75B$2.88B
Total current liabilities $13.31B$13.01B$11.58B$13.27B$10.91B$9.93B$10.30B$8.65B$8.27B$9.50B
Long-term debt $44.13B$39.31B$37.65B$34.31B$32.20B$28.99B$25.13B$21.65B$19.42B$17.38B
Total liabilities $82.20B$76.05B$71.36B$69.23B$64.95B$59.94B$55.87B$49.63B$46.40B$46.05B
Retained earnings $15.44B$13.87B$12.80B$12.35B$11.67B$10.69B$9.90B$9.33B$8.63B$7.89B
Total equity $31.14B$26.94B$25.29B$24.12B$22.68B$20.77B$19.91B$19.06B$18.31B$17.42B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $6.94B$6.80B$5.01B$5.29B$3.84B$3.83B$4.27B$5.22B$4.27B$4.52B
Depreciation and amortisation $3.33B$3.15B$2.93B$3.07B$2.72B$2.49B$2.20B$1.97B$1.71B$1.69B
Capital expenditure $3.45B$399.0M$155.0M——$0$918.4M$0$0$107.9M
Investing cash flow -$11.94B-$7.60B-$6.27B-$7.75B-$6.43B-$6.23B-$7.14B-$6.35B-$3.66B-$5.05B
Financing cash flow $5.02B$659.0M$1.08B$2.57B$2.61B$2.41B$2.86B$1.16B-$604.9M$503.9M
Dividends paid $2.01B$1.90B$1.75B$1.65B$1.52B$1.42B$1.35B$1.26B$1.19B$1.12B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000004904-26-000013.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B Revenue, FY2016: 16.4B Net income, FY2016: 618M Revenue, FY2017: 15.4B Net income, FY2017: 1.9B Revenue, FY2018: 16.2B Net income, FY2018: 1.9B Revenue, FY2019: 15.6B Net income, FY2019: 1.9B Revenue, FY2020: 14.9B Net income, FY2020: 2.2B Revenue, FY2021: 16.8B Net income, FY2021: 2.5B Revenue, FY2022: 19.4B Net income, FY2022: 2.3B Revenue, FY2023: 19.5B Net income, FY2023: 2.2B Revenue, FY2024: 20B Net income, FY2024: 3B Revenue, FY2025: 21.7B Net income, FY2025: 3.7B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $16.38B $15.42B $16.20B $15.56B $14.92B $16.79B $19.39B $19.46B $19.97B $21.70B
Gross profit — — — — — — — — — —
Net income $618.0M $1.93B $1.93B $1.92B $2.20B $2.49B $2.31B $2.21B $2.98B $3.70B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event Item 8.01
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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