NRG ENERGY, INC. NRG

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

NRG Energy, Inc., or NRG or the Company, serves electricity, natural gas, and smart-home technology solutions to approximately 8 million residential customers (comprised of 6 million retail energy and 2 million smart home), in addition to large commercial and industrial, data center, and wholesale customers. Across North America, NRG is redefining customers' experience with energy under brand names such as NRG, Reliant, Direct Energy, Green Mountain Energy, and Vivint. As of December 31, 2025, the Company's core power and natural gas business consists of approximately 12 GW of competitive power generation, primarily in Texas, and a natural gas portfolio that serves approximately 1,900 MMDth annually.

Last close 92.31 2026-10-23
Market cap $19.40B 2026-06-30 share count
52-week range 90.80 - 189.96

Valuation FY2025 figures against the last close

P/S0.6x
P/E23.0x
P/FCF25.3x
EV/EBITDA6.0x
Dividend yield2.1%
Diluted EPS4.01

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $30.35B$27.75B$28.26B$31.49B$26.78B$8.69B$7.99B$8.15B$9.07B$8.91B
Cost of revenue —————$6.54B$7.30B$7.11B$6.89B$6.68B
Gross profit —————$2.15B$688.0M$1.04B$2.19B$2.24B
R&D —————$8.0M$7.0M$11.0M$22.0M$48.0M
SG&A $2.60B$2.35B$2.09B$1.15B$1.29B$810.0M$760.0M$799.0M$836.0M$1.03B
Total operating expenses $28.84B$25.91B$30.02B$29.58B$23.89B$7.99B$8.54B$8.53B$9.92B$8.99B
Operating income $1.84B$2.42B$384.0M$2.02B$3.34B$1.10B$1.29B$982.0M-$741.0M$33.0M
Interest expense $741.0M$651.0M$667.0M$417.0M$485.0M$401.0M$413.0M$483.0M$557.0M$583.0M
Pre-tax income $1.13B$1.45B-$213.0M$1.66B$2.86B$761.0M$786.0M$467.0M-$1.39B-$931.0M
Income tax $270.0M$323.0M$11.0M$442.0M$672.0M$251.0M$3.33B$7.0M$44.0M$25.0M
Net income $864.0M$1.12B-$202.0M$1.22B$2.19B$510.0M$4.44B$268.0M-$2.15B-$774.0M
EPS, basic 4.095.14-1.125.178.932.0816.940.88-6.79-2.22
EPS, diluted 4.014.99-1.125.178.932.0716.810.87-6.79-2.22
Shares, diluted (wtd. avg.) 199.0M212.0M228.0M236.0M245.0M246.0M264.0M308.0M317.0M316.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $4.71B$966.0M$541.0M$430.0M$250.0M$3.90B$345.0M$563.0M$770.0M$591.0M
Receivables $4.07B$3.49B$3.54B$4.77B$3.25B$904.0M$1.02B$1.02B$900.0M$1.06B
Inventory $461.0M$478.0M$607.0M$751.0M$498.0M$327.0M$383.0M$412.0M$453.0M$721.0M
Total current assets $13.15B$8.96B$9.73B$16.23B$10.84B$6.03B$3.09B$3.60B$4.44B$6.71B
Property, plant and equipment ———————$3.05B$5.97B$15.37B
Goodwill $5.02B$5.01B$5.08B$1.65B$1.79B$579.0M$579.0M$573.0M$539.0M$662.0M
Other intangibles $2.31B$2.91B$3.93B$2.13B$2.51B$668.0M$789.0M$591.0M$507.0M$1.97B
Total assets $29.14B$24.02B$26.04B$29.15B$23.18B$14.90B$12.53B$10.63B$23.36B$30.68B
Accounts payable $2.83B$2.51B$2.33B$3.64B$2.27B$649.0M$722.0M$863.0M$684.0M$782.0M
Total current liabilities $8.03B$8.81B$9.50B$12.98B$7.92B$1.92B$2.36B$2.40B$3.35B$4.70B
Long-term debt —$10.89B$10.94B$8.10B$8.10B$8.86B$6.04B$6.69B$9.49B$16.70B
Total liabilities $27.46B$21.54B$23.13B$25.32B$19.58B$13.22B$10.85B$11.84B$21.31B$26.19B
Retained earnings $1.98B$1.53B$820.0M$1.41B$464.0M-$1.40B-$1.62B-$6.02B-$6.27B-$3.79B
Total equity $1.68B$2.48B$2.91B$3.83B$3.60B$1.68B$1.66B-$1.23B$1.97B$4.45B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.91B$2.31B-$221.0M$360.0M$493.0M$1.84B$1.41B$1.38B$1.61B$1.91B
Depreciation and amortisation $1.41B$1.40B$1.29B$720.0M$785.0M$435.0M$373.0M$421.0M$596.0M$756.0M
Stock-based compensation $134.0M$102.0M$101.0M$28.0M$21.0M$22.0M$20.0M$25.0M$35.0M$10.0M
Capital expenditure $1.15B$472.0M$598.0M$367.0M$269.0M$230.0M$228.0M$388.0M$254.0M$544.0M
Investing cash flow -$1.64B-$24.0M-$910.0M-$332.0M-$3.04B-$494.0M$556.0M-$205.0M-$639.0M-$757.0M
Financing cash flow $3.55B-$1.75B-$400.0M$1.04B-$272.0M$2.20B-$2.15B-$1.53B-$1.14B-$768.0M
Dividends paid $411.0M$405.0M$381.0M$332.0M$319.0M$295.0M$32.0M$37.0M$38.0M$76.0M
Buybacks $1.31B$935.0M$1.15B$600.0M$48.0M$229.0M$1.44B$1.25B$0$0

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 0001013871-26-000004.

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. -10B 0 10B 20B 30B 40B Revenue, FY2016: 8.9B Gross profit, FY2016: 2.2B Net income, FY2016: -774M Revenue, FY2017: 9.1B Gross profit, FY2017: 2.2B Net income, FY2017: -2.2B Revenue, FY2018: 8.1B Gross profit, FY2018: 1B Net income, FY2018: 268M Revenue, FY2019: 8B Gross profit, FY2019: 688M Net income, FY2019: 4.4B Revenue, FY2020: 8.7B Gross profit, FY2020: 2.1B Net income, FY2020: 510M Revenue, FY2021: 26.8B Net income, FY2021: 2.2B Revenue, FY2022: 31.5B Net income, FY2022: 1.2B Revenue, FY2023: 28.3B Net income, FY2023: -202M Revenue, FY2024: 27.7B Net income, FY2024: 1.1B Revenue, FY2025: 30.3B Net income, FY2025: 864M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $8.91B $9.07B $8.15B $7.99B $8.69B $26.78B $31.49B $28.26B $27.75B $30.35B
Gross profit $2.24B $2.19B $1.04B $688.0M $2.15B — — — — —
Net income -$774.0M -$2.15B $268.0M $4.44B $510.0M $2.19B $1.22B -$202.0M $1.12B $864.0M

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
  • 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
  • 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
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • 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
  • 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
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • 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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