FirstEnergy (FE) Financials

$39.47 +1.16 (+3.03%)

Closing price 04/9/2025 03:59 PM Eastern

Extended Trading

$39.35 -0.12 (-0.31%)

As of 07:17 AM Eastern

Annual Income Statements for FirstEnergy

This table shows FirstEnergy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	578	-6,177	-1,724	981	908	1,079	1,283	406	1,102	978
Consolidated Net Income / (Loss)	578	-6,177	-1,724	1,348	912	1,079	1,283	439	1,176	1,127
Net Income / (Loss) Continuing Operations	578	551	-289	1,022	904	1,003	1,239	439	1,197	1,127
Total Pre-Tax Income	893	1,078	1,426	1,512	1,117	1,129	1,559	1,439	1,464	1,504
Total Operating Income	2,292	2,054	2,428	2,502	2,510	2,162	1,726	1,910	2,266	2,375
Total Gross Profit	8,748	6,819	10,431	10,723	10,538	7,720	7,687	7,866	8,224	9,096
Total Revenue	15,026	10,700	10,928	11,261	11,035	10,790	11,132	12,459	12,870	13,472
Operating Revenue	15,026	10,700	10,928	11,261	11,035	10,790	11,132	12,459	12,870	13,472
Total Cost of Revenue	6,278	3,881	497	538	497	3,070	3,445	4,593	4,646	4,376
Operating Cost of Revenue	6,278	3,881	497	538	497	3,070	3,445	4,593	4,646	4,376
Total Operating Expenses	6,456	4,765	8,003	8,221	8,028	5,558	5,961	5,956	5,958	6,721
Selling, General & Admin Expense	3,740	2,579	5,728	6,242	5,879	3,291	3,196	3,817	3,594	4,159
Depreciation Expense	1,282	933	1,027	1,136	1,220	1,274	1,302	1,375	1,461	1,581
Other Operating Expenses / (Income)	1,220	913	940	843	1,008	1,046	1,073	764	1,164	981
Total Other Income / (Expense), net	-1,399	-976	-1,002	-990	-1,393	-1,033	-167	-471	-802	-871
Interest Expense	1,015	918	953	1,051	962	988	1,066	1,126	1,063	1,096
Interest & Investment Income	-22	44	53	205	243	2.00	31	168	175	58
Other Income / (Expense), net	-362	-102	-102	-144	-674	-47	868	487	86	167
Income Tax Expense	315	527	1,715	490	213	126	320	1,000	267	377
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	367	4.00	0.00	0.00	33	74	149
Basic Earnings per Share	$1.37	($14.49)	($3.88)	$1.99	$1.70	$1.99	$2.35	$0.71	$1.92	$1.70
Weighted Average Basic Shares Outstanding	422M	426M	444M	492M	535M	542M	545M	571M	573M	575M
Diluted Earnings per Share	$1.37	($14.49)	($3.88)	$1.99	$1.68	$1.99	$2.35	$0.71	$1.92	$1.70
Weighted Average Diluted Shares Outstanding	424M	426M	444M	494M	542M	543M	546M	572M	574M	577M
Weighted Average Basic & Diluted Shares Outstanding	421.90M	426.30M	444.30M	493M	540.71M	543.22M	570.34M	572.25M	574.44M	576.70M
Cash Dividends to Common per Share	$1.44	$1.44	$1.44	$1.44	$1.52	$1.56	$1.56	$1.56	$1.58	$1.69

This table shows FirstEnergy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	334	-403	292	235	400	175	253	45	419	261
Consolidated Net Income / (Loss)	344	-385	310	254	420	192	267	98	466	296
Net Income / (Loss) Continuing Operations	344	-385	310	254	441	192	267	98	466	296
Total Pre-Tax Income	449	378	400	328	470	266	402	163	560	379
Total Operating Income	505	399	551	481	666	568	612	423	727	613
Total Gross Profit	2,157	1,909	1,974	1,972	2,166	2,112	2,146	2,275	2,504	2,171
Total Revenue	3,475	3,177	3,231	3,006	3,487	3,146	3,287	3,280	3,729	3,176
Operating Revenue	3,475	3,177	3,231	3,006	3,487	3,146	3,287	3,280	3,729	3,176
Total Cost of Revenue	1,318	1,268	1,257	1,034	1,321	1,034	1,141	1,005	1,225	1,005
Operating Cost of Revenue	1,318	1,268	1,257	1,034	1,321	1,034	1,141	1,005	1,225	1,005
Total Operating Expenses	1,652	1,510	1,423	1,491	1,500	1,544	1,534	1,852	1,777	1,558
Selling, General & Admin Expense	1,111	990	846	885	967	896	1,006	1,170	1,099	884
Depreciation Expense	332	355	361	361	366	373	381	397	400	403
Other Operating Expenses / (Income)	209	-1.00	216	245	167	536	147	285	278	271
Total Other Income / (Expense), net	-56	-21	-151	-153	-196	-302	-210	-260	-167	-234
Interest Expense	224	242	242	290	263	268	275	341	241	239
Interest & Investment Income	57	34	56	35	43	41	21	22	21	-6.00
Other Income / (Expense), net	111	187	35	102	24	-75	44	59	53	11
Income Tax Expense	105	763	90	74	29	74	135	65	94	83
Net Income / (Loss) Attributable to Noncontrolling Interest	10	18	18	19	20	17	14	53	47	35
Basic Earnings per Share	$0.58	($0.71)	$0.51	$0.41	$0.70	$0.30	$0.44	$0.08	$0.73	$0.45
Weighted Average Basic Shares Outstanding	571M	571M	572M	573M	573M	573M	574M	575M	576M	575M
Diluted Earnings per Share	$0.58	($0.70)	$0.51	$0.41	$0.69	$0.31	$0.44	$0.08	$0.73	$0.45
Weighted Average Diluted Shares Outstanding	572M	572M	573M	574M	574M	574M	576M	576M	577M	577M
Weighted Average Basic & Diluted Shares Outstanding	571.75M	572.25M	572.84M	573.36M	573.81M	574.44M	575.52M	575.92M	576.32M	576.70M

This table details how cash moves in and out of FirstEnergy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	46	47	383	-214	250	1,122	-290	-1,305	-27	-25
Net Cash From Operating Activities	3,460	3,383	3,808	1,410	2,467	1,423	2,811	2,683	1,387	2,891
Net Cash From Continuing Operating Activities	3,460	3,383	3,808	1,410	2,467	1,423	2,811	2,683	1,387	2,891
Net Income / (Loss) Continuing Operations	578	-6,177	-1,724	1,348	912	1,003	1,283	439	1,176	1,127
Consolidated Net Income / (Loss)	578	-6,177	-1,724	1,348	912	1,079	1,283	439	1,176	1,127
Depreciation Expense	1,826	1,974	1,700	1,384	1,217	1,199	1,664	1,317	1,280	1,588
Non-Cash Adjustments To Reconcile Net Income	556	10,889	2,609	-386	734	-834	-704	-321	-140	244
Changes in Operating Assets and Liabilities, net	452	-3,303	1,223	-936	-396	55	568	1,248	-929	-68
Net Cash From Investing Activities	-3,122	-3,302	-2,723	-3,018	-2,873	-2,908	-2,559	-3,076	-3,652	-4,350
Net Cash From Continuing Investing Activities	-3,122	-3,302	-2,723	-3,018	-2,873	-2,908	-2,559	-3,076	-3,652	-4,350
Purchase of Property, Plant & Equipment	-2,704	-2,835	-2,587	-2,675	-2,665	-2,657	-2,487	-2,848	-3,356	-4,030
Purchase of Investments	-1,648	-1,789	-2,268	-1,463	-1,675	-208	-59	-59	-50	-134
Sale and/or Maturity of Investments	1,534	1,678	2,170	909	1,637	186	48	48	38	121
Other Investing Activities, net	-324	-371	-426	-214	-170	-229	-216	-217	-284	-307
Net Cash From Financing Activities	-292	-34	-702	1,394	656	2,607	-542	-912	2,238	1,434
Net Cash From Continuing Financing Activities	-292	-34	-702	1,394	656	2,607	-542	-912	2,238	1,434
Repayment of Debt	-996	-2,374	-4,738	-2,724	-824	-1,173	-2,793	-3,157	-609	-3,110
Payment of Dividends	-607	-611	-639	-772	-820	-845	-849	-912	-978	-1,056
Issuance of Debt	1,311	2,951	4,675	2,424	2,300	4,625	2,100	800	3,825	2,100
Issuance of Common Equity	-	0.00	0.00	850	0.00	0.00	1,000	9.00	0.00	0.00
Other Financing Activities, net	-	-	-	-	-	0.00	0.00	2,348	0.00	3,500
Cash Interest Paid	1,028	1,050	1,039	1,071	960	970	1,085	1,021	1,002	1,062
Cash Income Taxes Paid	37	-16	53	49	12	6.00	-7.00	21	58	161

This table details how cash moves in and out of FirstEnergy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-255	-71	0.00	8.00	-70	35	736	-812	362	-311
Net Cash From Operating Activities	554	846	-112	-101	642	958	-40	1,112	775	1,044
Net Cash From Continuing Operating Activities	554	846	-112	-101	642	958	-40	1,112	775	1,044
Net Income / (Loss) Continuing Operations	344	-385	310	254	420	192	267	98	466	296
Consolidated Net Income / (Loss)	344	-385	310	254	420	192	267	98	466	296
Depreciation Expense	348	274	287	370	236	387	276	487	434	391
Non-Cash Adjustments To Reconcile Net Income	-29	-127	-30	-131	-13	34	11	-27	5.00	255
Changes in Operating Assets and Liabilities, net	-109	1,084	-679	-594	-1.00	345	-594	554	-130	102
Net Cash From Investing Activities	-722	-1,073	-716	-831	-926	-1,179	-870	-1,006	-1,085	-1,389
Net Cash From Continuing Investing Activities	-722	-1,073	-716	-831	-926	-1,179	-870	-1,006	-1,085	-1,389
Purchase of Property, Plant & Equipment	-666	-996	-649	-769	-848	-1,090	-790	-942	-1,004	-1,294
Purchase of Investments	-18	-19	-4.00	-20	-13	-13	-16	-8.00	-90	-20
Sale and/or Maturity of Investments	15	17	1.00	17	10	10	13	4.00	87	17
Other Investing Activities, net	-53	-75	-64	-59	-75	-86	-77	-60	-78	-92
Net Cash From Financing Activities	-87	156	828	940	214	256	1,646	-918	672	34
Net Cash From Continuing Financing Activities	-87	156	828	940	214	256	1,646	-918	672	34
Repayment of Debt	-159	-114	-332	-250	-23	-4.00	-561	-936	-1,027	-586
Payment of Dividends	-237	-230	-240	-260	-233	-245	-243	-252	-281	-280
Issuance of Debt	300	500	1,400	1,450	470	505	150	270	780	900

This table presents FirstEnergy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	52,094	43,148	42,257	40,063	42,301	44,464	45,432	46,108	48,767	52,044
Total Current Assets	3,040	2,950	3,110	2,392	2,444	3,714	3,237	2,415	2,568	2,776
Cash & Equivalents	131	199	588	367	627	1,734	1,462	160	137	111
Restricted Cash	70	176	51	62	52	67	49	46	42	43
Accounts Receivable	1,595	1,615	1,452	1,491	1,322	1,439	1,279	1,571	1,584	1,833
Inventories, net	785	564	236	252	281	317	260	421	512	549
Other Current Assets	324	140	-	20	-	-	187	217	293	240
Plant, Property, & Equipment, net	37,214	29,387	28,101	29,911	31,650	33,294	34,744	36,285	38,412	41,102
Plant, Property & Equipment, gross	52,374	45,118	38,112	40,704	43,077	45,277	47,416	49,543	52,223	55,650
Accumulated Depreciation	15,160	15,731	10,011	10,793	11,427	11,938	12,672	13,258	13,811	14,548
Total Noncurrent Assets	11,840	10,811	11,046	7,760	8,207	7,411	7,451	7,408	7,787	8,166
Long-Term Investments	506	512	2,130	253	1,181	605	655	622	663	652
Goodwill	6,418	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618
Other Noncurrent Operating Assets	4,916	4,681	3,298	1,889	1,408	1,188	1,178	1,168	1,506	1,896
Total Liabilities & Shareholders' Equity	52,094	43,148	42,257	40,063	42,301	44,464	45,432	46,108	48,767	52,044
Total Liabilities	39,672	36,907	38,332	33,249	35,326	37,227	36,757	35,465	37,851	38,324
Total Current Liabilities	5,602	7,126	4,113	4,634	4,862	5,004	4,416	3,958	5,386	4,997
Short-Term Debt	2,874	4,360	858	1,753	1,380	2,346	1,606	451	2,025	1,527
Accounts Payable	1,075	1,043	827	965	918	827	943	1,503	1,362	1,575
Customer Deposits	-	-	-	-	-	-	214	223	227	233
Dividends Payable	-	-	-	-	-	212	222	223	235	245
Current Deferred & Payable Income Tax Liabilities	519	580	533	533	545	640	647	668	700	727
Current Employee Benefit Liabilities	334	363	257	318	258	349	313	272	304	205
Other Current Liabilities	800	780	660	822	1,512	348	188	364	241	216
Other Current Nonoperating Liabilities	-	-	978	243	249	282	283	254	292	269
Total Noncurrent Liabilities	34,070	29,781	34,219	28,615	30,464	32,223	32,341	31,507	32,465	33,327
Long-Term Debt	19,099	18,192	18,687	17,751	19,618	22,131	22,248	21,203	22,885	22,496
Asset Retirement Reserve & Litigation Obligation	1,410	1,639	3,290	3,310	2,525	1,826	2,124	1,847	1,214	995
Noncurrent Deferred & Payable Income Tax Liabilities	6,773	3,765	3,171	2,502	2,849	3,095	3,437	4,202	4,530	5,613
Noncurrent Employee Benefit Liabilities	4,245	3,719	3,975	2,906	3,065	3,345	2,669	2,335	1,663	1,698
Other Noncurrent Operating Liabilities	1,752	1,709	1,568	2,146	1,716	1,826	1,863	1,920	2,173	2,525
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	12,422	6,241	3,925	6,814	6,975	7,237	8,675	10,643	10,916	13,720
Total Preferred & Common Equity	12,421	6,241	3,925	6,814	6,975	7,237	8,675	10,166	10,437	12,455
Total Common Equity	12,421	6,241	3,925	6,743	6,975	7,237	8,675	10,166	10,437	12,455
Common Stock	9,994	10,599	10,045	11,581	10,922	10,130	10,295	11,379	10,551	12,426
Retained Earnings	2,256	-4,532	-6,262	-4,879	-3,967	-2,888	-1,605	-1,199	-97	43
Accumulated Other Comprehensive Income / (Loss)	171	174	142	41	20	-5.00	-15	-14	-17	-14
Noncontrolling Interest	1.00	-	-	-	-	-	0.00	477	479	1,265

This table presents FirstEnergy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	44,851	46,108	46,479	47,065	47,471	48,767	51,299	51,021	50,756	52,044
Total Current Assets	2,312	2,415	2,507	2,485	2,520	2,568	4,063	3,258	3,068	2,776
Cash & Equivalents	251	160	177	171	118	137	888	60	439	111
Restricted Cash	26	46	29	43	26	42	27	43	26	43
Accounts Receivable	1,446	1,571	1,516	1,461	1,573	1,584	1,669	1,800	1,781	1,833
Inventories, net	361	421	457	449	481	512	538	536	536	549
Other Current Assets	228	217	328	361	322	293	491	369	286	240
Plant, Property, & Equipment, net	35,572	36,285	36,630	37,149	37,678	38,412	38,804	39,410	40,119	41,102
Plant, Property & Equipment, gross	48,647	49,543	50,087	50,820	51,532	52,223	52,795	53,628	54,480	55,650
Accumulated Depreciation	13,075	13,258	13,457	13,671	13,854	13,811	13,991	14,218	14,361	14,548
Total Noncurrent Assets	6,967	7,408	7,342	7,431	7,273	7,787	8,432	8,353	7,569	8,166
Long-Term Investments	621	622	632	638	626	663	688	670	688	652
Goodwill	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618	5,618
Other Noncurrent Operating Assets	728	1,168	1,092	1,175	1,029	1,506	1,376	1,315	1,263	1,896
Total Liabilities & Shareholders' Equity	44,851	46,108	46,479	47,065	47,471	48,767	51,299	51,021	50,756	52,044
Total Liabilities	33,613	35,465	35,748	36,094	36,526	37,851	37,686	37,293	37,064	38,324
Total Current Liabilities	3,493	3,958	3,700	4,149	4,796	5,386	6,273	6,356	5,473	4,997
Short-Term Debt	353	451	602	1,352	1,572	2,025	2,863	3,120	2,102	1,527
Accounts Payable	1,125	1,503	1,238	1,200	1,262	1,362	1,383	1,477	1,520	1,575
Customer Deposits	-	223	-	223	225	227	228	228	228	233
Dividends Payable	223	223	223	0.00	235	235	245	0.00	245	245
Current Deferred & Payable Income Tax Liabilities	643	668	701	604	657	700	823	726	729	727
Current Employee Benefit Liabilities	255	272	222	257	252	304	199	197	156	205
Other Current Liabilities	639	364	229	230	290	241	227	324	221	216
Other Current Nonoperating Liabilities	255	254	263	283	303	292	305	284	272	269
Total Noncurrent Liabilities	30,120	31,507	32,048	31,945	31,730	32,465	31,413	30,937	31,591	33,327
Long-Term Debt	20,905	21,203	22,124	22,656	22,882	22,885	21,652	20,831	21,603	22,496
Asset Retirement Reserve & Litigation Obligation	1,982	1,847	1,723	1,519	1,316	1,214	964	956	916	995
Noncurrent Deferred & Payable Income Tax Liabilities	3,428	4,202	4,263	4,392	4,449	4,530	5,288	5,389	5,492	5,613
Noncurrent Employee Benefit Liabilities	2,496	2,335	2,339	1,516	1,512	1,663	1,663	1,655	1,651	1,698
Other Noncurrent Operating Liabilities	1,309	1,920	1,599	1,862	1,571	2,173	1,846	2,106	1,929	2,525
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	11,238	10,643	10,731	10,971	10,945	10,916	13,613	13,728	13,692	13,720
Total Preferred & Common Equity	10,774	10,166	10,253	10,510	10,474	10,437	12,397	12,474	12,427	12,455
Total Common Equity	10,774	10,166	10,253	10,510	10,474	10,437	12,397	12,474	12,427	12,455
Common Stock	11,583	11,379	11,175	11,197	10,762	10,551	12,414	12,443	12,414	12,426
Retained Earnings	-796	-1,199	-907	-672	-272	-97	0.00	45	27	43
Accumulated Other Comprehensive Income / (Loss)	-13	-14	-15	-15	-16	-17	-17	-14	-14	-14
Noncontrolling Interest	464	477	478	461	471	479	1,216	1,254	1,265	1,265

This table displays calculated financial ratios and metrics derived from FirstEnergy's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.15%	-28.79%	2.13%	3.05%	-2.01%	-2.22%	3.17%	11.92%	3.30%	4.68%
EBITDA Growth	40.78%	3.21%	2.55%	-7.05%	-18.41%	8.55%	28.49%	-12.78%	-2.21%	13.71%
EBIT Growth	81.73%	1.14%	19.16%	1.38%	-22.14%	15.20%	22.65%	-7.59%	-1.88%	8.08%
NOPAT Growth	12.15%	-29.23%	-146.87%	443.68%	20.12%	-5.45%	-28.58%	-57.52%	217.96%	-3.94%
Net Income Growth	93.31%	-1,168.69%	72.09%	178.19%	-32.34%	18.31%	18.91%	-65.78%	167.88%	-4.17%
EPS Growth	92.96%	-1,157.66%	73.22%	151.29%	-15.58%	18.45%	18.09%	-69.79%	170.42%	-11.46%
Operating Cash Flow Growth	27.53%	-2.23%	12.56%	-62.97%	74.96%	-42.32%	97.54%	-4.55%	-48.30%	108.44%
Free Cash Flow Firm Growth	348.51%	723.73%	-47.63%	-88.54%	103.16%	-194.14%	133.07%	-289.98%	-245.70%	90.64%
Invested Capital Growth	1.92%	-16.87%	-14.26%	5.20%	4.62%	10.02%	3.73%	3.49%	11.16%	5.46%
Revenue Q/Q Growth	0.39%	-27.35%	38.29%	1.54%	-0.33%	-1.24%	1.12%	4.33%	-0.24%	0.22%
EBITDA Q/Q Growth	0.37%	39.32%	-21.54%	-3.98%	-18.37%	41.02%	7.47%	-7.43%	0.55%	3.38%
EBIT Q/Q Growth	12.27%	117.37%	-30.09%	-5.72%	-19.83%	51.29%	10.48%	-5.03%	-3.80%	5.43%
NOPAT Q/Q Growth	23.91%	67.02%	-120.67%	676.25%	6.27%	-12.26%	-8.17%	-58.76%	124.58%	3.86%
Net Income Q/Q Growth	16.06%	-917.63%	65.66%	204.58%	-21.45%	48.62%	16.85%	-64.91%	96.33%	10.17%
EPS Q/Q Growth	16.10%	-913.29%	67.26%	152.09%	-19.23%	48.51%	16.34%	-67.43%	110.99%	8.97%
Operating Cash Flow Q/Q Growth	5.07%	-9.42%	7.18%	-12.09%	-4.71%	-9.99%	5.04%	5.46%	8.78%	3.07%
Free Cash Flow Firm Q/Q Growth	56.88%	417.16%	-56.36%	-80.51%	84.65%	-28.64%	-76.67%	-4.01%	24.44%	-234.08%
Invested Capital Q/Q Growth	-0.11%	-15.24%	-12.10%	1.19%	0.14%	-0.18%	2.26%	-0.41%	0.98%	1.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	58.22%	63.73%	95.45%	95.22%	95.50%	71.55%	69.05%	63.14%	63.90%	67.52%
EBITDA Margin	25.32%	36.69%	36.84%	33.23%	27.67%	30.71%	38.25%	29.81%	28.22%	30.66%
Operating Margin	15.25%	19.20%	22.22%	22.22%	22.75%	20.04%	15.50%	15.33%	17.61%	17.63%
EBIT Margin	12.84%	18.24%	21.28%	20.94%	16.64%	19.60%	23.30%	19.24%	18.28%	18.87%
Profit (Net Income) Margin	3.85%	-57.73%	-15.78%	11.97%	8.26%	10.00%	11.53%	3.52%	9.14%	8.37%
Tax Burden Percent	64.73%	-573.01%	-120.90%	89.15%	81.65%	95.57%	82.30%	30.51%	80.33%	74.93%
Interest Burden Percent	46.27%	55.23%	61.31%	64.12%	60.84%	53.38%	60.10%	60.03%	62.24%	59.17%
Effective Tax Rate	35.27%	48.89%	120.27%	32.41%	19.07%	11.16%	20.53%	69.49%	18.24%	25.07%
Return on Invested Capital (ROIC)	4.34%	3.33%	-1.85%	6.71%	7.68%	6.76%	4.53%	1.86%	5.49%	4.88%
ROIC Less NNEP Spread (ROIC-NNEP)	0.18%	-29.17%	-7.57%	4.98%	1.96%	2.81%	4.13%	1.19%	2.54%	2.18%
Return on Net Nonoperating Assets (RNNOA)	0.31%	-69.52%	-32.07%	18.40%	5.55%	8.42%	11.60%	2.69%	5.42%	4.27%
Return on Equity (ROE)	4.65%	-66.20%	-33.92%	25.10%	13.23%	15.18%	16.13%	4.55%	10.91%	9.15%
Cash Return on Invested Capital (CROIC)	2.44%	21.75%	13.51%	1.63%	3.17%	-2.78%	0.86%	-1.58%	-5.08%	-0.44%
Operating Return on Assets (OROA)	3.72%	4.10%	5.45%	5.73%	4.46%	4.88%	5.77%	5.24%	4.96%	5.04%
Return on Assets (ROA)	1.11%	-12.97%	-4.04%	3.28%	2.21%	2.49%	2.85%	0.96%	2.48%	2.24%
Return on Common Equity (ROCE)	4.65%	-66.19%	-33.92%	24.94%	13.16%	15.18%	16.13%	4.43%	10.43%	8.50%
Return on Equity Simple (ROE_SIMPLE)	4.65%	-98.97%	-43.92%	19.78%	13.08%	14.91%	14.79%	4.32%	11.27%	9.05%
Net Operating Profit after Tax (NOPAT)	1,484	1,050	-492	1,691	2,031	1,921	1,372	583	1,853	1,780
NOPAT Margin	9.87%	9.81%	-4.50%	15.02%	18.41%	17.80%	12.32%	4.68%	14.40%	13.21%
Net Nonoperating Expense Percent (NNEP)	4.17%	32.50%	5.72%	1.73%	5.72%	3.95%	0.40%	0.66%	2.95%	2.70%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	1.80%	5.17%	4.72%
Cost of Revenue to Revenue	41.78%	36.27%	4.55%	4.78%	4.50%	28.45%	30.95%	36.86%	36.10%	32.48%
SG&A Expenses to Revenue	24.89%	24.10%	52.42%	55.43%	53.28%	30.50%	28.71%	30.64%	27.93%	30.87%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	42.97%	44.53%	73.23%	73.00%	72.75%	51.51%	53.55%	47.80%	46.29%	49.89%
Earnings before Interest and Taxes (EBIT)	1,930	1,952	2,326	2,358	1,836	2,115	2,594	2,397	2,352	2,542
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,804	3,926	4,026	3,742	3,053	3,314	4,258	3,714	3,632	4,130
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.75	1.53	2.63	2.25	3.08	1.96	2.33	2.14	1.91	1.82
Price to Tangible Book Value (P/TBV)	1.55	15.31	0.00	13.50	15.85	8.78	6.62	4.79	4.14	3.32
Price to Revenue (P/Rev)	0.62	0.89	0.95	1.35	1.95	1.32	1.82	1.75	1.55	1.68
Price to Earnings (P/E)	16.09	0.00	0.00	15.48	23.69	13.18	15.77	53.71	18.10	23.19
Dividend Yield	6.55%	6.43%	6.20%	4.85%	3.82%	5.95%	4.20%	4.09%	4.55%	4.28%
Earnings Yield	6.22%	0.00%	0.00%	6.46%	4.22%	7.59%	6.34%	1.86%	5.53%	4.31%
Enterprise Value to Invested Capital (EV/IC)	0.91	1.12	1.10	1.32	1.50	1.22	1.36	1.35	1.25	1.26
Enterprise Value to Revenue (EV/Rev)	2.09	2.99	2.48	3.03	3.68	3.36	3.77	3.46	3.46	3.50
Enterprise Value to EBITDA (EV/EBITDA)	8.24	8.14	6.73	9.11	13.32	10.95	9.85	11.61	12.25	11.42
Enterprise Value to EBIT (EV/EBIT)	16.25	16.37	11.65	14.45	22.14	17.16	16.16	17.98	18.92	18.55
Enterprise Value to NOPAT (EV/NOPAT)	21.14	30.44	0.00	20.15	20.01	18.89	30.56	73.98	24.01	26.50
Enterprise Value to Operating Cash Flow (EV/OCF)	9.06	9.45	7.12	24.17	16.48	25.50	14.91	16.07	32.08	16.31
Enterprise Value to Free Cash Flow (EV/FCFF)	37.62	4.66	7.54	82.67	48.55	0.00	160.79	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.83	3.73	4.98	2.86	3.01	3.38	2.75	2.03	2.28	1.75
Long-Term Debt to Equity	1.60	3.04	4.76	2.61	2.81	3.06	2.56	1.99	2.10	1.64
Financial Leverage	1.75	2.38	4.24	3.70	2.84	3.00	2.81	2.25	2.13	1.96
Leverage Ratio	4.18	5.10	8.40	7.67	5.97	6.11	5.65	4.74	4.40	4.09
Compound Leverage Factor	1.93	2.82	5.15	4.92	3.63	3.26	3.40	2.84	2.74	2.42
Debt to Total Capital	64.70%	78.88%	83.28%	74.11%	75.07%	77.18%	73.33%	67.05%	69.53%	63.65%
Short-Term Debt to Total Capital	8.17%	14.75%	3.66%	6.66%	4.93%	7.40%	4.94%	1.40%	5.65%	4.05%
Long-Term Debt to Total Capital	56.53%	64.13%	79.62%	67.45%	70.13%	69.78%	68.39%	65.65%	63.88%	59.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.48%	1.34%	3.35%
Common Equity to Total Capital	35.30%	21.12%	16.72%	25.62%	24.93%	22.82%	26.67%	31.48%	29.13%	33.00%
Debt to EBITDA	5.98	5.94	4.85	5.21	6.88	7.39	5.60	5.83	6.86	5.82
Net Debt to EBITDA	5.80	5.71	4.17	5.03	6.27	6.66	5.09	5.61	6.63	5.62
Long-Term Debt to EBITDA	5.23	4.83	4.64	4.74	6.43	6.68	5.23	5.71	6.30	5.45
Debt to NOPAT	15.34	22.20	-39.72	11.53	10.34	12.74	17.39	37.16	13.45	13.50
Net Debt to NOPAT	14.87	21.36	-34.09	11.13	9.42	11.49	15.81	35.74	12.99	13.05
Long-Term Debt to NOPAT	13.41	18.05	-37.98	10.50	9.66	11.52	16.22	36.39	12.35	12.64
Altman Z-Score	0.55	0.29	0.37	0.51	0.57	0.50	0.68	0.73	0.67	0.73
Noncontrolling Interest Sharing Ratio	0.01%	0.01%	0.00%	0.66%	0.51%	0.00%	0.00%	2.47%	4.43%	7.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.54	0.41	0.76	0.52	0.50	0.74	0.73	0.61	0.48	0.56
Quick Ratio	0.31	0.25	0.50	0.40	0.40	0.63	0.62	0.44	0.32	0.39
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	834	6,866	3,596	412	837	-788	261	-495	-1,712	-160
Operating Cash Flow to CapEx	128.91%	119.96%	173.17%	62.67%	92.57%	53.56%	120.54%	94.21%	41.33%	71.74%
Free Cash Flow to Firm to Interest Expense	0.82	7.48	3.77	0.39	0.87	-0.80	0.24	-0.44	-1.61	-0.15
Operating Cash Flow to Interest Expense	3.41	3.69	4.00	1.34	2.56	1.44	2.64	2.38	1.30	2.64
Operating Cash Flow Less CapEx to Interest Expense	0.76	0.61	1.69	-0.80	-0.21	-1.25	0.45	-0.15	-1.85	-1.04
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.29	0.22	0.26	0.27	0.27	0.25	0.25	0.27	0.27	0.27
Accounts Receivable Turnover	8.91	6.67	7.13	7.65	7.85	7.82	8.19	8.74	8.16	7.89
Inventory Turnover	7.84	5.75	1.24	2.20	1.86	10.27	11.94	13.49	9.96	8.25
Fixed Asset Turnover	0.41	0.32	0.38	0.39	0.36	0.33	0.33	0.35	0.34	0.34
Accounts Payable Turnover	5.33	3.66	0.53	0.60	0.53	3.52	3.89	3.76	3.24	2.98
Days Sales Outstanding (DSO)	40.98	54.75	51.22	47.70	46.52	46.70	44.56	41.75	44.74	46.29
Days Inventory Outstanding (DIO)	46.57	63.44	293.76	165.54	195.72	35.55	30.57	27.06	36.65	44.25
Days Payable Outstanding (DPO)	68.43	99.60	686.67	607.88	691.44	103.73	93.77	97.19	112.54	122.49
Cash Conversion Cycle (CCC)	19.12	18.59	-341.69	-394.65	-449.20	-21.49	-18.64	-28.38	-31.15	-31.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	34,479	28,663	24,575	25,854	27,048	29,757	30,868	31,946	35,511	37,451
Invested Capital Turnover	0.44	0.34	0.41	0.45	0.42	0.38	0.37	0.40	0.38	0.37
Increase / (Decrease) in Invested Capital	650	-5,816	-4,088	1,279	1,194	2,709	1,111	1,078	3,565	1,940
Enterprise Value (EV)	31,357	31,963	27,105	34,076	40,652	36,291	41,921	43,108	44,491	47,165
Market Capitalization	9,299	9,541	10,329	15,183	21,514	14,220	20,233	21,805	19,944	22,683
Book Value per Share	$29.36	$14.66	$8.82	$13.18	$12.91	$13.34	$15.93	$17.78	$18.19	$21.61
Tangible Book Value per Share	$14.19	$1.46	($3.81)	$2.20	$2.51	$2.98	$5.62	$7.95	$8.40	$11.86
Total Capital	35,186	29,550	23,470	26,318	27,973	31,714	32,529	32,297	35,826	37,743
Total Debt	22,764	23,309	19,545	19,504	20,998	24,477	23,854	21,654	24,910	24,023
Total Long-Term Debt	19,890	18,949	18,687	17,751	19,618	22,131	22,248	21,203	22,885	22,496
Net Debt	22,057	22,422	16,776	18,822	19,138	22,071	21,688	20,826	24,068	23,217
Capital Expenditures (CapEx)	2,684	2,820	2,199	2,250	2,665	2,657	2,332	2,848	3,356	4,030
Debt-free, Cash-free Net Working Capital (DFCFNWC)	111	-191	-784	-918	-1,717	-745	-1,084	-1,298	-972	-848
Debt-free Net Working Capital (DFNWC)	312	184	-145	-489	-1,038	1,056	427	-1,092	-793	-694
Net Working Capital (NWC)	-2,562	-4,176	-1,003	-2,242	-2,418	-1,290	-1,179	-1,543	-2,818	-2,221
Net Nonoperating Expense (NNE)	906	7,227	1,232	343	1,119	842	89	144	677	653
Net Nonoperating Obligations (NNO)	22,057	22,422	20,650	19,040	20,073	22,520	22,193	21,303	24,595	23,731
Total Depreciation and Amortization (D&A)	1,874	1,974	1,700	1,384	1,217	1,199	1,664	1,317	1,280	1,588
Debt-free, Cash-free Net Working Capital to Revenue	0.74%	-1.79%	-7.17%	-8.15%	-15.56%	-6.90%	-9.74%	-10.42%	-7.55%	-6.29%
Debt-free Net Working Capital to Revenue	2.08%	1.72%	-1.33%	-4.34%	-9.41%	9.79%	3.84%	-8.76%	-6.16%	-5.15%
Net Working Capital to Revenue	-17.05%	-39.03%	-9.18%	-19.91%	-21.91%	-11.96%	-10.59%	-12.38%	-21.90%	-16.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($14.49)	$0.00	$0.00	$0.00	$1.99	$2.35	$0.71	$1.92	$1.70
Adjusted Weighted Average Basic Shares Outstanding	0.00	426M	0.00	0.00	0.00	542M	545M	571M	573M	575M
Adjusted Diluted Earnings per Share	$0.00	($14.49)	$0.00	$0.00	$0.00	$1.99	$2.35	$0.71	$1.92	$1.70
Adjusted Weighted Average Diluted Shares Outstanding	0.00	426M	0.00	0.00	0.00	543M	546M	572M	574M	577M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	442.48M	0.00	0.00	0.00	543.22M	570.34M	572.25M	574.44M	576.70M
Normalized Net Operating Profit after Tax (NOPAT)	1,511	1,072	1,700	1,691	2,031	1,921	1,468	1,337	1,853	1,780
Normalized NOPAT Margin	10.05%	10.02%	15.55%	15.02%	18.41%	17.80%	13.19%	10.73%	14.40%	13.21%
Pre Tax Income Margin	5.94%	10.07%	13.05%	13.43%	10.12%	10.46%	14.00%	11.55%	11.38%	11.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.90	2.13	2.44	2.24	1.91	2.14	2.43	2.13	2.21	2.32
NOPAT to Interest Expense	1.46	1.14	-0.52	1.61	2.11	1.94	1.29	0.52	1.74	1.62
EBIT Less CapEx to Interest Expense	-0.74	-0.95	0.13	0.10	-0.86	-0.55	0.25	-0.40	-0.94	-1.36
NOPAT Less CapEx to Interest Expense	-1.18	-1.93	-2.82	-0.53	-0.66	-0.75	-0.90	-2.01	-1.41	-2.05
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	105.02%	-9.89%	-37.07%	57.27%	89.91%	78.31%	66.17%	207.74%	83.16%	93.70%
Augmented Payout Ratio	105.02%	-9.89%	-37.07%	57.27%	89.91%	78.31%	66.17%	207.74%	83.16%	93.70%

This table displays calculated financial ratios and metrics derived from FirstEnergy's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.24%	19.44%	8.10%	6.67%	0.35%	-0.98%	1.73%	9.12%	6.94%	0.95%
EBITDA Growth	-16.54%	-25.73%	-13.82%	8.67%	-3.94%	2.33%	6.76%	1.68%	31.10%	15.34%
EBIT Growth	-19.69%	-17.81%	-10.26%	7.56%	12.01%	-15.87%	11.95%	-17.32%	13.04%	26.57%
NOPAT Growth	-25.71%	-302.10%	-1.59%	4.60%	61.51%	200.88%	-4.81%	-31.72%	-3.19%	16.77%
Net Income Growth	-25.70%	-190.16%	7.64%	32.29%	22.09%	149.87%	-13.87%	-61.42%	10.95%	54.17%
EPS Growth	-31.76%	-190.91%	2.00%	24.24%	18.97%	144.29%	-13.73%	-80.49%	5.80%	45.16%
Operating Cash Flow Growth	-26.82%	19.66%	-131.55%	-110.88%	15.88%	13.24%	64.29%	1,200.99%	20.72%	8.98%
Free Cash Flow Firm Growth	-1,137.18%	-63.14%	-7.27%	-126.58%	-64.18%	-112.55%	-195.00%	-0.17%	59.89%	53.69%
Invested Capital Growth	6.26%	3.49%	5.20%	9.18%	9.64%	11.16%	11.99%	8.08%	4.53%	5.46%
Revenue Q/Q Growth	23.31%	-8.58%	1.70%	-6.96%	16.00%	-9.78%	4.48%	-0.21%	13.69%	-14.83%
EBITDA Q/Q Growth	9.92%	-10.79%	1.51%	9.16%	-2.83%	-4.97%	5.91%	3.97%	25.28%	-16.39%
EBIT Q/Q Growth	13.65%	-4.87%	0.00%	-0.51%	18.35%	-28.55%	33.06%	-26.52%	61.83%	-20.00%
NOPAT Q/Q Growth	8.65%	-205.04%	205.08%	-12.77%	67.77%	-34.39%	-0.86%	-37.43%	137.88%	-20.86%
Net Income Q/Q Growth	79.17%	-211.92%	180.52%	-18.06%	65.35%	-54.29%	39.06%	-63.30%	375.51%	-36.48%
EPS Q/Q Growth	75.76%	-220.69%	172.86%	-19.61%	68.29%	-55.07%	41.94%	-81.82%	812.50%	-38.36%
Operating Cash Flow Q/Q Growth	-40.30%	52.71%	-113.24%	9.82%	735.64%	49.22%	-104.18%	2,880.00%	-30.31%	34.71%
Free Cash Flow Firm Q/Q Growth	-34.97%	1.18%	18.62%	-108.74%	2.20%	-27.94%	-12.95%	29.12%	60.84%	-47.75%
Invested Capital Q/Q Growth	1.78%	-0.41%	3.63%	3.94%	2.20%	0.98%	4.40%	0.31%	-1.15%	1.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.07%	60.09%	61.10%	65.60%	62.12%	67.13%	65.29%	69.36%	67.15%	68.36%
EBITDA Margin	27.74%	27.07%	27.02%	31.70%	26.56%	27.97%	28.35%	29.54%	32.56%	31.96%
Operating Margin	14.53%	12.56%	17.05%	16.00%	19.10%	18.05%	18.62%	12.90%	19.50%	19.30%
EBIT Margin	17.73%	18.45%	18.14%	19.39%	19.79%	15.67%	19.96%	14.70%	20.92%	19.65%
Profit (Net Income) Margin	9.90%	-12.12%	9.59%	8.45%	12.04%	6.10%	8.12%	2.99%	12.50%	9.32%
Tax Burden Percent	76.61%	-101.85%	77.50%	77.44%	89.36%	72.18%	66.42%	60.12%	83.21%	78.10%
Interest Burden Percent	72.89%	64.51%	68.26%	56.26%	68.12%	53.96%	61.28%	33.82%	71.79%	60.74%
Effective Tax Rate	23.39%	201.85%	22.50%	22.56%	6.17%	27.82%	33.58%	39.88%	16.79%	21.90%
Return on Invested Capital (ROIC)	4.27%	-5.07%	5.20%	4.85%	6.88%	4.97%	4.56%	2.86%	6.06%	5.57%
ROIC Less NNEP Spread (ROIC-NNEP)	4.07%	-4.98%	4.68%	4.30%	5.97%	4.02%	3.95%	2.19%	5.48%	4.81%
Return on Net Nonoperating Assets (RNNOA)	9.48%	-11.20%	10.83%	8.43%	12.12%	8.56%	7.43%	4.16%	10.51%	9.44%
Return on Equity (ROE)	13.75%	-16.28%	16.03%	13.27%	19.00%	13.54%	11.99%	7.02%	16.57%	15.00%
Cash Return on Invested Capital (CROIC)	-1.53%	-1.58%	-3.21%	-6.80%	-6.74%	-5.08%	-6.09%	-2.90%	0.33%	-0.44%
Operating Return on Assets (OROA)	4.77%	5.02%	5.06%	5.42%	5.53%	4.25%	5.28%	3.96%	5.72%	5.25%
Return on Assets (ROA)	2.67%	-3.30%	2.68%	2.36%	3.37%	1.66%	2.15%	0.80%	3.42%	2.49%
Return on Common Equity (ROCE)	13.41%	-15.88%	15.63%	12.72%	18.20%	12.94%	11.15%	6.53%	15.41%	13.94%
Return on Equity Simple (ROE_SIMPLE)	11.61%	0.00%	4.50%	4.98%	5.72%	0.00%	9.14%	7.83%	8.23%	0.00%
Net Operating Profit after Tax (NOPAT)	387	-406	427	372	625	410	406	254	605	479
NOPAT Margin	11.13%	-12.79%	13.22%	12.39%	17.92%	13.03%	12.37%	7.75%	16.22%	15.07%
Net Nonoperating Expense Percent (NNEP)	0.20%	-0.10%	0.52%	0.54%	0.91%	0.95%	0.61%	0.67%	0.59%	0.76%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.26%	-	-	-	1.14%	-	-	-	1.27%
Cost of Revenue to Revenue	37.93%	39.91%	38.90%	34.40%	37.88%	32.87%	34.71%	30.64%	32.85%	31.64%
SG&A Expenses to Revenue	31.97%	31.16%	26.18%	29.44%	27.73%	28.48%	30.61%	35.67%	29.47%	27.83%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	47.54%	47.53%	44.04%	49.60%	43.02%	49.08%	46.67%	56.46%	47.65%	49.06%
Earnings before Interest and Taxes (EBIT)	616	586	586	583	690	493	656	482	780	624
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	964	860	873	953	926	880	932	969	1,214	1,015
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.80	2.14	2.10	2.01	1.79	1.91	1.75	1.75	2.06	1.82
Price to Tangible Book Value (P/TBV)	3.77	4.79	4.64	4.31	3.86	4.14	3.20	3.18	3.75	3.32
Price to Revenue (P/Rev)	1.63	1.75	1.69	1.64	1.45	1.55	1.68	1.65	1.90	1.68
Price to Earnings (P/E)	15.72	53.71	52.43	46.07	35.80	18.10	20.41	24.97	28.63	23.19
Dividend Yield	4.59%	4.09%	4.15%	4.24%	4.77%	4.55%	4.23%	4.32%	3.77%	4.28%
Earnings Yield	6.36%	1.86%	1.91%	2.17%	2.79%	5.53%	4.90%	4.00%	3.49%	4.31%
Enterprise Value to Invested Capital (EV/IC)	1.26	1.35	1.33	1.30	1.22	1.25	1.24	1.24	1.34	1.26
Enterprise Value to Revenue (EV/Rev)	3.37	3.46	3.45	3.47	3.33	3.46	3.55	3.50	3.67	3.50
Enterprise Value to EBITDA (EV/EBITDA)	10.03	11.61	12.27	12.25	11.88	12.25	12.42	12.47	12.36	11.42
Enterprise Value to EBIT (EV/EBIT)	15.95	17.98	18.83	18.86	17.55	18.92	18.92	19.92	20.47	18.55
Enterprise Value to NOPAT (EV/NOPAT)	28.49	73.98	73.44	68.67	52.02	24.01	25.02	26.56	28.80	26.50
Enterprise Value to Operating Cash Flow (EV/OCF)	15.82	16.07	19.79	37.67	33.66	32.08	31.41	17.30	17.60	16.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	412.77	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.89	2.03	2.12	2.19	2.23	2.28	1.80	1.74	1.73	1.75
Long-Term Debt to Equity	1.86	1.99	2.06	2.07	2.09	2.10	1.59	1.52	1.58	1.64
Financial Leverage	2.33	2.25	2.31	1.96	2.03	2.13	1.88	1.90	1.92	1.96
Leverage Ratio	4.74	4.74	4.67	4.14	4.16	4.40	4.02	3.97	3.99	4.09
Compound Leverage Factor	3.45	3.06	3.19	2.33	2.83	2.37	2.46	1.34	2.86	2.49
Debt to Total Capital	65.42%	67.05%	67.93%	68.64%	69.08%	69.53%	64.30%	63.57%	63.39%	63.65%
Short-Term Debt to Total Capital	1.09%	1.40%	1.80%	3.87%	4.44%	5.65%	7.51%	8.28%	5.62%	4.05%
Long-Term Debt to Total Capital	64.33%	65.65%	66.13%	64.77%	64.64%	63.88%	56.79%	55.29%	57.77%	59.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.43%	1.48%	1.43%	1.32%	1.33%	1.34%	3.19%	3.33%	3.38%	3.35%
Common Equity to Total Capital	33.15%	31.48%	30.65%	30.05%	29.59%	29.13%	32.51%	33.11%	33.23%	33.00%
Debt to EBITDA	5.30	5.83	6.36	6.58	6.77	6.86	6.64	6.46	5.93	5.82
Net Debt to EBITDA	5.07	5.61	6.12	6.34	6.56	6.63	6.21	6.25	5.65	5.62
Long-Term Debt to EBITDA	5.21	5.71	6.19	6.21	6.34	6.30	5.87	5.62	5.41	5.45
Debt to NOPAT	15.05	37.16	38.05	36.87	29.64	13.45	13.38	13.76	13.83	13.50
Net Debt to NOPAT	14.41	35.74	36.65	35.56	28.71	12.99	12.51	13.32	13.16	13.05
Long-Term Debt to NOPAT	14.80	36.39	37.04	34.79	27.74	12.35	11.82	11.97	12.61	12.64
Altman Z-Score	0.60	0.60	0.62	0.60	0.56	0.54	0.59	0.57	0.67	0.60
Noncontrolling Interest Sharing Ratio	2.48%	2.47%	2.45%	4.11%	4.21%	4.43%	6.96%	6.94%	7.05%	7.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.66	0.61	0.68	0.60	0.53	0.48	0.65	0.51	0.56	0.56
Quick Ratio	0.49	0.44	0.46	0.39	0.35	0.32	0.48	0.36	0.41	0.39
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,502	-1,484	-1,208	-2,522	-2,466	-3,155	-3,564	-2,526	-989	-1,461
Operating Cash Flow to CapEx	83.18%	84.94%	-17.26%	-13.13%	75.71%	87.89%	-5.06%	118.05%	77.19%	80.68%
Free Cash Flow to Firm to Interest Expense	-6.71	-6.13	-4.99	-8.69	-9.38	-11.77	-12.96	-7.41	-4.10	-6.11
Operating Cash Flow to Interest Expense	2.47	3.50	-0.46	-0.35	2.44	3.57	-0.15	3.26	3.22	4.37
Operating Cash Flow Less CapEx to Interest Expense	-0.50	-0.62	-3.14	-3.00	-0.78	-0.49	-3.02	0.50	-0.95	-1.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.27	0.28	0.28	0.28	0.27	0.26	0.27	0.27	0.27
Accounts Receivable Turnover	8.50	8.74	8.80	9.08	8.55	8.16	8.12	8.10	8.02	7.89
Inventory Turnover	13.87	13.49	13.25	12.95	11.59	9.96	9.11	9.14	8.66	8.25
Fixed Asset Turnover	0.34	0.35	0.35	0.36	0.35	0.34	0.34	0.34	0.35	0.34
Accounts Payable Turnover	4.20	3.76	4.15	4.09	4.09	3.24	3.46	3.36	3.17	2.98
Days Sales Outstanding (DSO)	42.94	41.75	41.50	40.18	42.71	44.74	44.97	45.09	45.54	46.29
Days Inventory Outstanding (DIO)	26.32	27.06	27.55	28.18	31.49	36.65	40.09	39.94	42.13	44.25
Days Payable Outstanding (DPO)	86.91	97.19	87.87	89.14	89.27	112.54	105.59	108.54	115.26	122.49
Cash Conversion Cycle (CCC)	-17.64	-28.38	-18.82	-20.77	-15.07	-31.15	-20.54	-23.52	-27.59	-31.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	32,076	31,946	33,105	34,410	35,167	35,511	37,075	37,190	36,761	37,451
Invested Capital Turnover	0.38	0.40	0.39	0.39	0.38	0.38	0.37	0.37	0.37	0.37
Increase / (Decrease) in Invested Capital	1,889	1,078	1,635	2,894	3,091	3,565	3,970	2,780	1,594	1,940
Enterprise Value (EV)	40,254	43,108	43,864	44,715	42,916	44,491	45,828	46,235	49,359	47,165
Market Capitalization	19,430	21,805	21,498	21,098	18,761	19,944	21,700	21,803	25,542	22,683
Book Value per Share	$18.86	$17.78	$17.92	$18.35	$18.27	$18.19	$21.60	$21.67	$21.58	$21.61
Tangible Book Value per Share	$9.02	$7.95	$8.10	$8.54	$8.47	$8.40	$11.81	$11.91	$11.82	$11.86
Total Capital	32,496	32,297	33,457	34,979	35,399	35,826	38,128	37,679	37,397	37,743
Total Debt	21,258	21,654	22,726	24,008	24,454	24,910	24,515	23,951	23,705	24,023
Total Long-Term Debt	20,905	21,203	22,124	22,656	22,882	22,885	21,652	20,831	21,603	22,496
Net Debt	20,360	20,826	21,888	23,156	23,684	24,068	22,912	23,178	22,552	23,217
Capital Expenditures (CapEx)	666	996	649	769	848	1,090	790	942	1,004	1,294
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,105	-1,298	-797	-526	-848	-972	-262	-81	-768	-848
Debt-free Net Working Capital (DFNWC)	-828	-1,092	-591	-312	-704	-793	653	22	-303	-694
Net Working Capital (NWC)	-1,181	-1,543	-1,193	-1,664	-2,276	-2,818	-2,210	-3,098	-2,405	-2,221
Net Nonoperating Expense (NNE)	43	-21	117	118	205	218	139	156	139	183
Net Nonoperating Obligations (NNO)	20,838	21,303	22,374	23,439	24,222	24,595	23,462	23,462	23,069	23,731
Total Depreciation and Amortization (D&A)	348	274	287	370	236	387	276	487	434	391
Debt-free, Cash-free Net Working Capital to Revenue	-9.25%	-10.42%	-6.28%	-4.08%	-6.57%	-7.55%	-2.03%	-0.61%	-5.71%	-6.29%
Debt-free Net Working Capital to Revenue	-6.93%	-8.76%	-4.65%	-2.42%	-5.46%	-6.16%	5.05%	0.17%	-2.25%	-5.15%
Net Working Capital to Revenue	-9.89%	-12.38%	-9.39%	-12.91%	-17.64%	-21.90%	-17.10%	-23.47%	-17.89%	-16.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.58	($0.71)	$0.51	$0.41	$0.70	$0.30	$0.44	$0.08	$0.73	$0.45
Adjusted Weighted Average Basic Shares Outstanding	571M	571M	572M	573M	573M	573M	574M	575M	576M	575M
Adjusted Diluted Earnings per Share	$0.58	($0.70)	$0.51	$0.41	$0.69	$0.31	$0.44	$0.08	$0.73	$0.45
Adjusted Weighted Average Diluted Shares Outstanding	572M	572M	573M	574M	574M	574M	576M	576M	577M	577M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	571.75M	572.25M	572.84M	573.36M	573.81M	574.44M	575.52M	575.92M	576.32M	576.70M
Normalized Net Operating Profit after Tax (NOPAT)	387	279	427	372	625	410	406	254	605	479
Normalized NOPAT Margin	11.13%	8.79%	13.22%	12.39%	17.92%	13.03%	12.37%	7.75%	16.22%	15.07%
Pre Tax Income Margin	12.92%	11.90%	12.38%	10.91%	13.48%	8.46%	12.23%	4.97%	15.02%	11.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.75	2.42	2.42	2.01	2.62	1.84	2.39	1.41	3.24	2.61
NOPAT to Interest Expense	1.73	-1.68	1.76	1.28	2.38	1.53	1.48	0.75	2.51	2.00
EBIT Less CapEx to Interest Expense	-0.22	-1.69	-0.26	-0.64	-0.60	-2.23	-0.49	-1.35	-0.93	-2.80
NOPAT Less CapEx to Interest Expense	-1.25	-5.80	-0.92	-1.37	-0.85	-2.54	-1.39	-2.02	-1.66	-3.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	71.54%	207.74%	201.74%	184.89%	160.77%	83.16%	86.58%	99.59%	99.80%	93.70%
Augmented Payout Ratio	71.54%	207.74%	201.74%	184.89%	160.77%	83.16%	86.58%	99.59%	99.80%	93.70%

Frequently Asked Questions About FirstEnergy's Financials

When does FirstEnergy's financial year end?

According to the most recent income statement we have on file, FirstEnergy's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has FirstEnergy's net income changed over the last 9 years?

FirstEnergy's net income appears to be on an upward trend, with a most recent value of $1.13 billion in 2024, rising from $578 million in 2015. The previous period was $1.18 billion in 2023. Check out FirstEnergy's forecast to explore projected trends and price targets.

What is FirstEnergy's operating income?

FirstEnergy's total operating income in 2024 was $2.38 billion, based on the following breakdown:

Total Gross Profit: $9.10 billion
Total Operating Expenses: $6.72 billion

How has FirstEnergy revenue changed over the last 9 years?

Over the last 9 years, FirstEnergy's total revenue changed from $15.03 billion in 2015 to $13.47 billion in 2024, a change of -10.3%.

How much debt does FirstEnergy have?

FirstEnergy's total liabilities were at $38.32 billion at the end of 2024, a 1.2% increase from 2023, and a 3.4% decrease since 2015.

How much cash does FirstEnergy have?

In the past 9 years, FirstEnergy's cash and equivalents has ranged from $111 million in 2024 to $1.73 billion in 2020, and is currently $111 million as of their latest financial filing in 2024.

How has FirstEnergy's book value per share changed over the last 9 years?

Over the last 9 years, FirstEnergy's book value per share changed from 29.36 in 2015 to 21.61 in 2024, a change of -26.4%.

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This page (NYSE:FE) was last updated on 4/10/2025 by MarketBeat.com Staff

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FirstEnergy (FE) Financials

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FirstEnergy (FE) Financials

Annual Income Statements for FirstEnergy

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