FirmAtlas
Company handbook · FE · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
FE · CIK 1031296 · LATEST FILING: 10-Q JUN '26 · FILED JUL 28, 2026
FIRSTENERGY CORP.
$46.19
+0.64 (+1.41%)
Close, Oct 16, 2026 · 52-week $43–52
Last fiscal year
FIRSTENERGY CORP. reported revenue of $15.1B for the year ended Dec 31, 2025 (FY25), up 12.0% from FY24. Net income was $1.0B, operating cash flow $3.7B and free cash flow −$1.0B. Source: 10-K filed Feb 18, 2026.
Market cap
$26.7B
P/E
25.1
EV/EBITDA
13.5x
P/B
2.1
Div yield
3.94%
ROIC
4.9%
Revenue 1Y
12.0%/yr
EPS 1Y
3.5%/yr
Shares 1Y
+0.2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOBrian X. Tierney
HQAkron, OH
AuditorPricewaterhouseCoopers LLP
Employees11,186
Year endsDecember
Revenue by segment · FY25
Regulated Distribution50%
Integrated38%
Regulated Transmission13%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
3.9%
4.8%
8.5%
−1.3%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$10.7B deployed
Capex
$8.7B
81.5%
Dividends
$2.0B
18.5%
Operating cash flow over the period: $6.6B. Total debt changed by +$3.0B.
Capex was more than operating cash flow in FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
13,472
15,090+12.0%
15,527
YoY
+12.0%
Operating income
2,375
2,206−7.1%
2,280
Operating margin
17.6%
14.6%−3.0 pp
—
EBITDA
3,956
3,870−2.2%
—
EBITDA margin
29.4%
25.6%−3.7 pp
—
Interest expense
1,144
1,217+6.4%
—
Interest coverage
3.46x
3.18x−0.28x
—
Net income
978
1,020+4.3%
1,065
YoY
+4.3%
Net margin
7.3%
6.8%−0.5 pp
—
EPS (diluted, $)
1.70
1.76+3.5%
1.84
YoY
+3.5%
Balance sheet
Total assets
52,044
55,904+7.4%
56,917
Cash & short-term investments
154
99−35.7%
—
Accounts receivable
1,530
1,726+12.8%
—
Inventory
549
577+5.1%
—
Other assets
49,811
53,502+7.4%
—
Total liabilities
39,589
43,394+9.6%
44,263
Accounts payable
1,575
2,002+27.1%
—
Total debt
22,496
25,508+13.4%
26,331
Other liabilities
15,518
15,884+2.4%
—
Shareholders’ equity
12,455
12,510+0.4%
12,654
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,891
3,700+28.0%
3,211
Net income
1,127
1,271+12.8%
—
Depreciation & amortization
1,581
1,664+5.2%
—
Working capital & other
183
765+318.0%
—
Cash from investing
(4,350)
(5,065)n/m
—
Capex
(4,030)
(4,705)n/m
—
Investments bought
(134)
(114)n/m
—
Other investing
(186)
(246)n/m
—
Cash from financing
1,434
1,310−8.6%
—
Debt raised
2,100
5,925+182.1%
—
Debt repaid
(2,760)
(3,129)n/m
—
Dividends
(970)
(1,016)n/m
—
Other financing
3,064
(470)−115.3%
—
Net change in cash
(25)
(55)n/m
—
Free cash flow (OCF − capex)
(1,139)
(1,005)n/m
(1,744)
Where the cash went
Operating cash flow
2,891
3,700+28.0%
3,211
Reinvested in the business
4,030
4,705+16.7%
—
% of operating cash flow
139.4%
127.2%
Capex
4,030
4,705+16.7%
4,955
Free cash flow
(1,139)
(1,005)n/m
(1,744)
YoY
n/m
Returned to shareholders
970
1,016+4.7%
—
% of free cash flow
—
—
Dividends
970
1,016+4.7%
—
Change in total debt
—
3,012
—
Cash left over
—
991
—
FCF conversion (FCF ÷ net income)
−116.5%
−98.5%+17.9 pp
—
Owner earnings
—
(1,818)
—
Owner earnings margin
—
−12.0%
—
Returns & ratios
ROIC (all capital)
5.1%
4.9%−0.2 pp
—
ROIC (operating)
353.1%
446.8%+93.7 pp
—
Net debt / EBITDA
5.65x
6.57x+0.92x
—
Debt / equity
1.81x
2.04x+0.23x
—
ROE
7.9%
8.2%+0.3 pp
—
ROA
1.9%
1.8%−0.1 pp
—
ROCE
5.0%
4.4%−0.7 pp
—
NOPAT
1,780
1,798+1.1%
—
Invested capital (operating)
504
301−40.3%
—
Invested capital (all)
34,797
37,919+9.0%
—
Reinvestment rate
—
−11.3%
—
Net debt is 6.6x EBITDA (FY25).
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
3,380
4,148
3,797
4,202
vs year-ago quarter
Operating income
646
830
(24)
828
Net income
268
441
(49)
405
vs year-ago quarter
Net margin
7.9%
10.6%
−1.3%
9.6%
EPS (diluted, $)
0.46
0.76
−0.08
0.70
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
54,230
55,884
55,904
56,917
Cash & equivalents
614
1,431
99
80
Total debt
23,746
25,510
25,508
26,331
Shareholders’ equity
12,851
12,798
12,510
12,654
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
1,082
845
1,136
148
Capex
1,218
1,316
1,166
1,255
Free cash flow
(136)
(471)
(30)
(1,107)
vs year-ago quarter