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NRG Energy financials & valuation

Reported statements, fiscal periods and valuation definitions in one place.

Last confirmed price: $94.25-5.57%; Oct 22, 2026, 2:17 PM EDT · Prices may be delayed
Market cap · calculated: $19.81B; Jul 31, 2026 · Valuation and sources

Data dates

Prices as of Oct 22, 2:17 PM EDT · Fundamentals checked Oct 22, 1:43 PM EDT · Statement period ended Jun 30, 2026

Financial statements

Period Statement

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Revenue

30.35B

FY2025 · ended Dec 31, 2025

Operating Income

1.85B

FY2025 · ended Dec 31, 2025

Net Income

864M

FY2025 · ended Dec 31, 2025

Amounts in USD. B = billions · M = millions. Scroll horizontally for earlier periods.

Sources, units & calculation notes

Reported statement data. Per-share figures are in USD/share; margins in %, debt/equity in ×. TTM sums four consecutive quarters; balance sheets remain period-end balances. A trailing-twelve-month EPS figure is not the sum of the quarterly EPS cells. Growth requires comparable positive values. EPS reflects the reported share count and any stock splits. A missing quarter may show calculated EPS when the necessary net income and share figures are available. EPS comparisons require consistent accounting and split adjustments. Use Tab to move between controls and arrow keys within the table.

NRG annual income
FY2025Ended Dec 31, 2025Filed Feb 24, 2026Source filing	FY2024Ended Dec 31, 2024As reported in the Feb 24, 2026 filingSource filing	FY2023Ended Dec 31, 2023As reported in the Feb 24, 2026 filingSource filing	FY2022Ended Dec 31, 2022Filed Feb 26, 2025Source filing	1Y change	3Y annual growth
30.35B	27.75B	28.26B	31.49B	9.4%	-1.2%
864M	1.13B	-202M	1.22B	-23.2%	-10.9%
1.85B	2.42B	384M	2.02B	-23.9%	-2.9%

Earnings quality · Dec 31, 2025

Net income: 864M
Free cash flow: 766M
Stock-based compensation: 134M
FCF / net income: 88.7%
Accrual gap / revenue: -3.5%
Cash conversion: Moderate cash conversion

Accrual gap = (net income − operating cash flow) / revenue. TECHi descriptive thresholds: strong ≥100%, moderate 75–100%, weak <75%. CapEx timing, working capital and industry structure affect the ratio; it is not an accounting audit.

Download quarterly income CSV

Changes between reports

Q2 Jun 30, 2026 versus Q1 Mar 31, 2026

Reported periods shown above are compared directly; a missing intervening quarter is not inferred. Margin changes are in percentage points (pp).

Revenue: 7.32B↓ -27.8%; Previous: 10.14B · USD
Operating margin: 13.34%↑ +10.1 pp; Previous: 3.24%
Net margin: 6.91%↑ +5.7 pp; Previous: 1.23%
Cash: 162M↓ -9.0%; Previous: 178M · USD
Debt: 23.39B↑ +1.0%; Previous: 23.15B · USD
Inventory: 793M↑ +19.2%; Previous: 665M · USD
Capex: 338M↑ +6.6%; Previous: 317M · USD
Stock-based compensation: 31M↓ -24.4%; Previous: 41M · USD

Reported-period comparison. Guidance and risk-factor changes require reading the filings.

Read the filings

Valuation & ratios

Multiples with negative or missing earnings are not meaningful. Annual free cash flow yield uses the latest fiscal year; provider forward multiples may use a different earnings horizon.

Enterprise value is market cap plus total debt minus cash (balance sheet Jun 30, 2026): market cap $19.81B, total debt $23.39B, cash $162.00M.

Valuation history and definitions

5Y median / percentile: Five-year observations unavailable
Forward EPS vs trailing EPS: 129.43% ($8.76 / $3.82)
PEG: 0.08×PEG is the forward P/E divided by the expected EPS growth rate in percent.

EPS growth proxy compares the available annual estimate (FY2026 period end 2026-12-31) with trailing EPS; it is not a multi-year consensus growth rate. Historical valuation uses dated observations, using price divided by the annual EPS estimate recorded that day. P/E observations without a stated earnings period are excluded. Available P/E observations: 21 since 2026-09-26.

Why valuation ratios differ

Forward P/E can use next fiscal year, current fiscal year or next-twelve-month earnings; trailing P/E can use GAAP or adjusted earnings and different closing prices. TECHi compares figures with the same earnings basis and reporting period. Different definitions are not averaged together.

Metric	Value / formula	Reporting period and date
Trailing P/E	24.66	Oct 22, 2026, 1:43 PM EDT
Trailing EPS	3.82	Oct 22, 2026, 1:43 PM EDT
Price ÷ annual EPS estimate	10.75×	TECHi calculation · FY2026 period end 2026-12-31

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