Nrg Energy Inc. Financials
This page shows Nrg Energy Inc. (NRG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Nrg Energy Inc. has an operating margin of 8.6%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 43/100, indicating healthy but not exceptional operating efficiency. This is up from 1.3% the prior year.
Nrg Energy Inc.'s revenue declined 2.4% year-over-year, from $28.8B to $28.1B. This contraction results in a growth score of 22/100.
Nrg Energy Inc. has elevated debt relative to equity (D/E of 3.96), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Nrg Energy Inc.'s current ratio of 1.02 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.
Nrg Energy Inc. has a free cash flow margin of 6.5%, earning a moderate score of 33/100. The company generates positive cash flow after capital investments, but with room for improvement.
Nrg Energy Inc. earns a strong 45.4% return on equity (ROE), meaning it generates $45 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.
Nrg Energy Inc. scores 2.64, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Nrg Energy Inc. passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Nrg Energy Inc. generates $2.05 in operating cash flow ($2.3B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Nrg Energy Inc. earns $3.7 in operating income for every $1 of interest expense ($2.4B vs $651.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Nrg Energy Inc. generated $28.1B in revenue in fiscal year 2024. This represents a decrease of 2.4% from the prior year.
Nrg Energy Inc.'s EBITDA was $3.8B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 127.9% from the prior year.
Nrg Energy Inc. generated $1.8B in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 323.9% from the prior year.
Nrg Energy Inc. reported $1.1B in net income in fiscal year 2024. This represents an increase of 656.9% from the prior year.
Nrg Energy Inc. earned $4.99 per diluted share (EPS) in fiscal year 2024. This represents an increase of 545.5% from the prior year.
Nrg Energy Inc. held $966.0M in cash against $9.8B in long-term debt as of fiscal year 2024.
Nrg Energy Inc. paid $1.63 per share in dividends in fiscal year 2024. This represents an increase of 7.9% from the prior year.
Nrg Energy Inc. had 198M shares outstanding in fiscal year 2024. This represents a decrease of 4.8% from the prior year.
Nrg Energy Inc.'s gross margin was 21.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 13.3 percentage points from the prior year.
Nrg Energy Inc.'s operating margin was 8.6% in fiscal year 2024, reflecting core business profitability. This is up 7.3 percentage points from the prior year.
Nrg Energy Inc.'s net profit margin was 4.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 4.7 percentage points from the prior year.
Nrg Energy Inc.'s ROE was 45.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
Nrg Energy Inc. spent $935.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 18.7% from the prior year.
Nrg Energy Inc. invested $472.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 21.1% from the prior year.
NRG Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.6B+13.3% | $6.7B-21.5% | $8.6B+25.9% | $6.8B+2.4% | $6.7B-10.4% | $7.4B+9.1% | $6.8B-14.3% | $7.9B |
| Cost of Revenue | $6.2B+10.9% | $5.6B-14.2% | $6.6B+34.7% | $4.9B+12.5% | $4.3B-23.6% | $5.7B-10.7% | $6.3B-1.1% | $6.4B |
| Gross Profit | $1.4B+25.5% | $1.1B-45.1% | $2.0B+3.9% | $1.9B-16.4% | $2.3B+31.9% | $1.8B+276.0% | $470.0M-69.5% | $1.5B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $612.0M-15.5% | $724.0M+31.9% | $549.0M+88.0% | $292.0M-46.4% | $545.0M-0.7% | $549.0M+87.4% | $293.0M-51.3% | $602.0M |
| Operating Income | $414.0M | $0-100.0% | $1.1B+18.9% | $954.0M-32.3% | $1.4B+61.7% | $872.0M+4.2% | $837.0M+49.2% | $561.0M |
| Interest Expense | $187.0M+26.4% | $148.0M-9.2% | $163.0M+32.5% | $123.0M-24.5% | $163.0M+7.2% | $152.0M-22.1% | $195.0M+12.7% | $173.0M |
| Income Tax | $86.0M+275.5% | -$49.0M-120.9% | $235.0M+226.4% | $72.0M-77.1% | $314.0M+70.7% | $184.0M+7.6% | $171.0M+163.1% | $65.0M |
| Net Income | $152.0M+246.2% | -$104.0M-113.9% | $750.0M+16.6% | $643.0M-12.9% | $738.0M+44.4% | $511.0M+6.0% | $482.0M+40.5% | $343.0M |
| EPS (Diluted) | $0.69+211.3% | $-0.62-117.2% | $3.61+16.5% | $3.10-8.0% | $3.37+45.9% | $2.31+13.2% | $2.04+44.7% | $1.41 |
NRG Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $24.0B-0.5% | $24.1B-3.6% | $25.0B+4.0% | $24.0B-6.8% | $25.8B+1.4% | $25.4B-2.4% | $26.0B-6.7% | $27.9B |
| Current Assets | $8.1B-0.9% | $8.2B-17.0% | $9.9B+10.2% | $9.0B-8.6% | $9.8B+5.8% | $9.3B-4.7% | $9.7B+2.7% | $9.5B |
| Cash & Equivalents | $732.0M+306.7% | $180.0M-74.0% | $693.0M-28.3% | $966.0M+156.9% | $376.0M+35.3% | $278.0M-48.6% | $541.0M+34.9% | $401.0M |
| Inventory | $452.0M+0.2% | $451.0M+20.9% | $373.0M-22.0% | $478.0M-23.3% | $623.0M+7.2% | $581.0M-4.3% | $607.0M-3.7% | $630.0M |
| Accounts Receivable | $3.3B-2.6% | $3.4B-2.6% | $3.5B+0.7% | $3.5B+2.5% | $3.4B+2.3% | $3.3B-6.1% | $3.5B-5.9% | $3.8B |
| Goodwill | $5.0B0.0% | $5.0B+0.1% | $5.0B0.0% | $5.0B-1.0% | $5.1B-0.3% | $5.1B-0.1% | $5.1B-1.2% | $5.1B |
| Total Liabilities | $22.0B+0.9% | $21.8B-1.9% | $22.2B+3.1% | $21.5B-2.7% | $22.1B+0.2% | $22.1B-4.4% | $23.1B-5.2% | $24.4B |
| Current Liabilities | $7.7B-12.2% | $8.8B-5.6% | $9.3B+5.5% | $8.8B+6.2% | $8.3B-9.5% | $9.2B-3.4% | $9.5B+6.4% | $8.9B |
| Long-Term Debt | $11.2B+13.7% | $9.8B0.0% | $9.8B0.0% | $9.8B-5.9% | $10.4B+9.1% | $9.6B-5.7% | $10.1B-5.7% | $10.7B |
| Total Equity | $2.0B-13.9% | $2.3B-17.6% | $2.8B+12.1% | $2.5B-31.6% | $3.6B+9.9% | $3.3B+13.5% | $2.9B-17.4% | $3.5B |
| Retained Earnings | $2.0B+1.6% | $2.0B-8.9% | $2.2B+40.8% | $1.5B-17.6% | $1.9B+53.7% | $1.2B+47.8% | $820.0M+92.9% | $425.0M |
NRG Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $484.0M+7.3% | $451.0M-47.3% | $855.0M-10.2% | $952.0M-9.8% | $1.1B+295.5% | $267.0M+10.8% | $241.0M-57.4% | $566.0M |
| Capital Expenditures | $254.0M-32.8% | $378.0M+74.2% | $217.0M+16.7% | $186.0M+80.6% | $103.0M+49.3% | $69.0M-34.3% | $105.0M-37.9% | $169.0M |
| Free Cash Flow | $230.0M+215.1% | $73.0M-88.6% | $638.0M-16.7% | $766.0M-19.6% | $953.0M+381.3% | $198.0M+45.6% | $136.0M-65.7% | $397.0M |
| Investing Cash Flow | -$258.0M+72.8% | -$948.0M-607.5% | -$134.0M+28.3% | -$187.0M-71.6% | -$109.0M-18.5% | -$92.0M-105.3% | $1.7B+1434.1% | -$129.0M |
| Financing Cash Flow | $215.0M+172.4% | -$297.0M+35.2% | -$458.0M+35.9% | -$714.0M-77.2% | -$403.0M-39.9% | -$288.0M+85.5% | -$2.0B-247.9% | -$572.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $355.0M+22.8% | $289.0M-8.0% | $314.0M-49.3% | $619.0M+587.8% | $90.0M | $0-100.0% | $1.1B+2100.0% | $50.0M |
NRG Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.3%+1.8pp | 16.5%-7.1pp | 23.6%-5.0pp | 28.6%-6.4pp | 35.0%+11.2pp | 23.8%+16.9pp | 6.9%-12.5pp | 19.4% |
| Operating Margin | 5.4%+5.4pp | 0.0%-13.2pp | 13.2%-0.8pp | 14.0%-7.2pp | 21.2%+9.4pp | 11.7%-0.6pp | 12.3%+5.2pp | 7.1% |
| Net Margin | 2.0%+3.5pp | -1.5%-10.3pp | 8.7%-0.7pp | 9.4%-1.7pp | 11.1%+4.2pp | 6.9%-0.2pp | 7.1%+2.8pp | 4.3% |
| Return on Equity | 7.7% | N/A | 27.0%+1.1pp | 25.9%+5.6pp | 20.4%+4.9pp | 15.5%-1.1pp | 16.6%+6.8pp | 9.8% |
| Return on Assets | 0.6%+1.1pp | -0.4%-3.4pp | 3.0%+0.3pp | 2.7%-0.2pp | 2.9%+0.9pp | 2.0%+0.2pp | 1.8%+0.6pp | 1.2% |
| Current Ratio | 1.05+0.1 | 0.93-0.1 | 1.06+0.0 | 1.02-0.2 | 1.18+0.2 | 1.01-0.0 | 1.02-0.0 | 1.06 |
| Debt-to-Equity | 5.66+1.4 | 4.29+0.8 | 3.53-0.4 | 3.96+1.1 | 2.88-0.0 | 2.90-0.6 | 3.49+0.4 | 3.05 |
| FCF Margin | 3.0%+1.9pp | 1.1%-6.3pp | 7.4%-3.8pp | 11.2%-3.1pp | 14.3%+11.6pp | 2.7%+0.7pp | 2.0%-3.0pp | 5.0% |
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Frequently Asked Questions
What is Nrg Energy Inc.'s annual revenue?
Nrg Energy Inc. (NRG) reported $28.1B in total revenue for fiscal year 2024. This represents a -2.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Nrg Energy Inc.'s revenue growing?
Nrg Energy Inc. (NRG) revenue declined by 2.4% year-over-year, from $28.8B to $28.1B in fiscal year 2024.
Is Nrg Energy Inc. profitable?
Yes, Nrg Energy Inc. (NRG) reported a net income of $1.1B in fiscal year 2024, with a net profit margin of 4.0%.
What is Nrg Energy Inc.'s earnings per share (EPS)?
Nrg Energy Inc. (NRG) reported diluted earnings per share of $4.99 for fiscal year 2024. This represents a 545.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Nrg Energy Inc.'s EBITDA?
Nrg Energy Inc. (NRG) had EBITDA of $3.8B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Nrg Energy Inc. have?
As of fiscal year 2024, Nrg Energy Inc. (NRG) had $966.0M in cash and equivalents against $9.8B in long-term debt.
What is Nrg Energy Inc.'s gross margin?
Nrg Energy Inc. (NRG) had a gross margin of 21.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nrg Energy Inc.'s operating margin?
Nrg Energy Inc. (NRG) had an operating margin of 8.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Nrg Energy Inc.'s net profit margin?
Nrg Energy Inc. (NRG) had a net profit margin of 4.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Nrg Energy Inc. pay dividends?
Yes, Nrg Energy Inc. (NRG) paid $1.63 per share in dividends during fiscal year 2024.
What is Nrg Energy Inc.'s return on equity (ROE)?
Nrg Energy Inc. (NRG) has a return on equity of 45.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Nrg Energy Inc.'s free cash flow?
Nrg Energy Inc. (NRG) generated $1.8B in free cash flow during fiscal year 2024. This represents a 323.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Nrg Energy Inc.'s operating cash flow?
Nrg Energy Inc. (NRG) generated $2.3B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Nrg Energy Inc.'s total assets?
Nrg Energy Inc. (NRG) had $24.0B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Nrg Energy Inc.'s capital expenditures?
Nrg Energy Inc. (NRG) invested $472.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Nrg Energy Inc. buy back shares?
Yes, Nrg Energy Inc. (NRG) spent $935.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Nrg Energy Inc. have outstanding?
Nrg Energy Inc. (NRG) had 198M shares outstanding as of fiscal year 2024.
What is Nrg Energy Inc.'s current ratio?
Nrg Energy Inc. (NRG) had a current ratio of 1.02 as of fiscal year 2024, which is considered adequate.
What is Nrg Energy Inc.'s debt-to-equity ratio?
Nrg Energy Inc. (NRG) had a debt-to-equity ratio of 3.96 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Nrg Energy Inc.'s return on assets (ROA)?
Nrg Energy Inc. (NRG) had a return on assets of 4.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Nrg Energy Inc.'s Altman Z-Score?
Nrg Energy Inc. (NRG) has an Altman Z-Score of 2.64, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Nrg Energy Inc.'s Piotroski F-Score?
Nrg Energy Inc. (NRG) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Nrg Energy Inc.'s earnings high quality?
Nrg Energy Inc. (NRG) has an earnings quality ratio of 2.05x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Nrg Energy Inc. cover its interest payments?
Nrg Energy Inc. (NRG) has an interest coverage ratio of 3.7x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Nrg Energy Inc.?
Nrg Energy Inc. (NRG) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.