OGE ENERGY CORP. OGE
OGE Energy is a holding company whose primary investment provides electricity in Oklahoma and western Arkansas. OGE Energy's electric company operations are conducted through its wholly-owned subsidiary, OG&E, which generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas and are reported through OGE Energy's electric company business segment. OG&E's rates are subject to regulation by the OCC, the APSC and the FERC. OG&E was incorporated in 1902 under the laws of the Oklahoma Territory and is the largest electric company in Oklahoma, with a franchised service territory that includes Fort Smith, Arkansas and the surrounding communities. OG&E sold its retail natural gas business in 1928 and is no longer engaged in the natural gas distribution business. OGE Energy exited its former midstream business in 2022 as a result of selling all equity securities of Energy Transfer that were previously held by OGE Energy.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.19B | $2.92B | $2.61B | $3.30B | $3.59B | $2.07B | $2.18B | $2.21B | $0 | $0 |
| Cost of revenue | $1.26B | $1.08B | $911.7M | $1.66B | $2.13B | $644.6M | $786.9M | $892.5M | $897.6M | $880.1M |
| Gross profit | $1.93B | $1.84B | $1.70B | $1.64B | $1.46B | $1.43B | $1.39B | $1.32B | -$897.6M | -$880.1M |
| SG&A | — | — | $148.3M | $135.5M | $139.3M | — | — | — | — | — |
| Total operating expenses | $1.20B | $1.16B | $1.11B | $1.06B | $981.9M | $955.5M | $940.4M | $888.2M | $831.6M | $848.3M |
| Operating income | $799.4M | $745.3M | $650.2M | $649.5M | $544.2M | $522.2M | $504.3M | $489.6M | $531.9M | $530.8M |
| Interest expense | $270.3M | $254.5M | $221.4M | $166.3M | $158.3M | $158.5M | $147.9M | $156.0M | $143.8M | $142.1M |
| Pre-tax income | $560.5M | $520.6M | $473.0M | $789.3M | $878.5M | -$301.1M | $463.4M | $497.7M | $569.7M | $486.3M |
| Income tax | $89.8M | $79.1M | $56.2M | $123.6M | $141.2M | $127.4M | $29.8M | $72.2M | $49.3M | $148.1M |
| Net income | $470.7M | $441.5M | $416.8M | $665.7M | $737.3M | -$173.7M | $433.6M | $425.5M | $619.0M | $338.2M |
| EPS, basic | 2.33 | 2.20 | 2.08 | 3.33 | 3.68 | -0.87 | 2.17 | 2.13 | 3.10 | 1.69 |
| EPS, diluted | 2.32 | 2.19 | 2.07 | 3.32 | 3.68 | -0.87 | 2.16 | 2.12 | 3.10 | 1.69 |
| Shares, diluted (wtd. avg.) | $202.5M | $201.3M | $200.9M | $200.8M | $200.3M | $200.1M | $200.7M | $200.5M | $200.0M | $199.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $200.0K | $600.0K | $200.0K | $88.1M | $0 | $1.1M | $0 | $94.3M | $14.4M | $300.0K |
| Receivables | $347.8M | $240.6M | $208.8M | $250.1M | $162.3M | $157.8M | $153.8M | $174.7M | $190.6M | $173.0M |
| Inventory | $112.0M | $148.3M | $158.5M | $108.8M | $40.6M | $36.5M | $46.3M | $57.6M | $84.3M | $79.8M |
| Total current assets | $857.9M | $895.1M | $771.5M | $1.34B | $613.6M | $428.5M | $430.2M | $557.3M | $497.0M | $549.5M |
| Property, plant and equipment | $12.73B | $12.09B | $11.30B | $10.55B | $9.83B | $9.37B | $9.04B | $8.64B | $8.34B | $7.70B |
| Total assets | $14.37B | $13.72B | $12.79B | $12.54B | $12.61B | $10.72B | $11.02B | $10.75B | $10.41B | $9.94B |
| Accounts payable | $350.6M | $305.7M | $276.4M | $448.9M | $274.0M | $251.5M | $194.9M | $239.3M | $230.4M | $205.4M |
| Short-term debt | $0 | $32.4M | $0 | $999.9M | $0 | $0 | $0 | $250.0M | $249.8M | $224.7M |
| Total current liabilities | $1.09B | $1.23B | $1.18B | $1.80B | $1.09B | $697.4M | $657.9M | $869.4M | $950.5M | $1.03B |
| Long-term debt | $5.37B | $5.02B | $4.34B | $3.55B | $4.50B | $3.49B | $3.20B | $2.90B | $2.75B | $2.41B |
| Total liabilities | $9.39B | $9.08B | $8.28B | $8.13B | $8.55B | $7.09B | $6.88B | $6.74B | $6.56B | $6.50B |
| Retained earnings | $3.60B | $3.48B | $3.37B | $3.29B | $2.96B | $2.54B | $3.04B | $2.91B | $2.76B | $2.37B |
| Total equity | $4.98B | $4.64B | $4.51B | $4.41B | $4.06B | $3.63B | $4.14B | $4.01B | $3.85B | $3.44B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.14B | $812.8M | $1.23B | $952.4M | -$229.9M | $712.8M | $681.5M | $951.1M | $784.5M | $644.7M |
| Depreciation and amortisation | $559.8M | $539.5M | $506.6M | $460.9M | $416.0M | $391.3M | $355.0M | $321.6M | $283.5M | $322.6M |
| Stock-based compensation | $14.0M | $11.7M | $13.1M | $9.7M | $9.8M | $9.8M | $13.9M | $13.4M | $9.1M | $4.7M |
| Capital expenditure | $1.05B | $1.09B | $1.18B | $1.05B | $778.5M | $650.5M | $635.5M | $573.6M | $824.1M | $660.1M |
| Investing cash flow | -$1.13B | -$1.16B | -$1.27B | -$96.4M | -$832.5M | -$654.9M | -$624.7M | -$576.0M | -$821.9M | -$620.4M |
| Financing cash flow | -$10.9M | $348.8M | -$48.1M | -$767.9M | $1.06B | -$56.8M | -$151.1M | -$295.2M | $51.5M | -$99.2M |
| Dividends paid | $341.9M | $338.5M | $333.2M | $329.3M | $324.9M | $314.9M | $299.2M | $272.2M | $247.6M | $225.1M |
| Buybacks | — | — | — | — | — | $14.7M | — | — | — | — |
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 0001193125-26-055414.
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