What is NRG Energy, Inc.'s earnings per share (EPS)?

NRG Energy, Inc. (NRG) reported diluted earnings per share of $4.01 for fiscal year 2025. This represents a -19.6% 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.

NRG Energy, Inc. (NRG) Financials

NRG

Trailing 12 months to June 30, 2026

Revenue $33.1B +12.8% YoY

Net Income $849.0M +62.6% YoY

EPS (Diluted) $3.81 +75.6% YoY

Free Cash Flow $348.0M -75.0% YoY

Market Cap $20.3B as of Oct 5, 2026

Price / Sales 0.6x on $33.1B revenue, trailing 12 months to June 30, 2026

Price / Earnings 24.0x on $849.0M net income, trailing 12 months to June 30, 2026

Price / Book 4.2x on $4.9B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NRG SEC filings page.

NRG Energy, Inc. (NRG) reported $33.1B in revenue over the twelve months to Jun 30, 2026, up 12.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI NRG FY2025 2026-10-03

NRG’s earnings rebound is cash-backed, but 2025’s heavier leverage and thinner margins make financing central to the business.

The 2024 rebound was unusually cash-rich: operating cash flow reached $2.3B while capital spending was only $472M, producing $1.8B of free cash flow. That cash conversion weakened in 2025: operating cash flow was $1.9B, but higher reinvestment left just $766M of free cash flow.

Revenue returned to $30.7B in 2025 while gross margin narrowed to 19.4%. That combination indicates growth came with weaker reported profitability per revenue dollar, rather than simply more efficient scale; operating margin also fell to 6.0%.

Debt-to-equity climbed from 4.0x in 2024 to 9.8x in 2025. Equity fell to $1.7B while liabilities rose to $27.5B, making the balance sheet more financing-sensitive even as current assets improved relative to current obligations.

Financial Health Signals

Financial Health Score 60/100

Scored as: Utilities peer group

Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of NRG Energy, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

NRG Energy, Inc. has an operating margin of 6.0%, meaning the company retains $6 of operating profit per $100 of revenue. This below-average margin results in a low score of 16/100, suggesting thin profitability after operating expenses. This is down from 8.6% the prior year.

Growth

NRG Energy, Inc.'s revenue grew 9.2% year-over-year to $30.7B, a solid pace of expansion. This earns a growth score of 38/100.

Leverage

NRG Energy, Inc. has a moderate D/E ratio of 9.76. This balance of debt and equity financing earns a leverage score of 63/100.

Liquidity

With a current ratio of 1.64, NRG Energy, Inc. holds $1.64 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 91/100.

Cash Flow

NRG Energy, Inc. converts 2.5% of revenue into free cash flow ($766.0M). This strong cash generation earns a score of 81/100.

Returns

NRG Energy, Inc. earns a strong 51.4% return on equity (ROE), meaning it generates $51 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 73/100. This is up from 45.4% the prior year.

Altman Z-Score Grey Zone

2.01

NRG Energy, Inc. scores 2.01, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

NRG Energy, Inc. passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.21x

For every $1 of reported earnings, NRG Energy, Inc. generates $2.21 in operating cash flow ($1.9B OCF vs $864.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.49x

NRG Energy, Inc. earns $2.49 in operating income for every $1 of interest expense ($1.8B vs $741.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$7.5B

YoY+11.0%

QoQ-27.1%

5Y CAGR+7.4%

10Y CAGR+12.8%

NRG Energy, Inc. generated $7.5B in revenue in Q2 2026. This represents an increase of 11.0% from the same quarter a year earlier. Against the prior quarter it is down 27.1%.

EBITDA

$1.5B

YoY+327.3%

QoQ+93.4%

5Y CAGR-1.8%

10Y CAGR+13.2%

NRG Energy, Inc.'s EBITDA was $1.5B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 327.3% from the same quarter a year earlier. Against the prior quarter it is up 93.4%.

Net Income

$506.0M

YoY+586.5%

QoQ+304.8%

5Y CAGR-14.0%

NRG Energy, Inc. reported $506.0M in net income in Q2 2026. This represents an increase of 586.5% from the same quarter a year earlier. Against the prior quarter it is up 304.8%.

EPS (Diluted)

$2.31

YoY+472.6%

QoQ+344.2%

5Y CAGR-12.1%

NRG Energy, Inc. earned $2.31 per diluted share (EPS) in Q2 2026. This represents an increase of 472.6% from the same quarter a year earlier. Against the prior quarter it is up 344.2%.

Cash & Balance Sheet

Free Cash Flow

$779.0M

YoY+967.1%

QoQ+260.3%

5Y CAGR-8.5%

10Y CAGR+23.5%

NRG Energy, Inc. generated $779.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 967.1% from the same quarter a year earlier. Against the prior quarter it is up 260.3%.

Cash & Debt

$162.0M

YoY-10.0%

QoQ-9.0%

5Y CAGR-14.8%

10Y CAGR-14.2%

NRG Energy, Inc. held $162.0M in cash against $21.7B in long-term debt as of Q2 2026.

Dividends Per Share

$0.47

YoY+8.0%

QoQ-73.0%

NRG Energy, Inc. paid $0.47 per share in dividends in Q2 2026. This represents an increase of 8.0% from the same quarter a year earlier. Against the prior quarter it is down 73.0%.

Shares Outstanding

210M

YoY+8.7%

QoQ-0.4%

5Y CAGR-3.0%

10Y CAGR-4.0%

NRG Energy, Inc. had 210M shares outstanding in Q2 2026. This represents an increase of 8.7% from the same quarter a year earlier. Against the prior quarter it is down 0.4%.

Margins & Returns

Gross Margin

26.9%

YoY+10.4pp

QoQ+13.2pp

5Y change-16.7pp

NRG Energy, Inc.'s gross margin was 26.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 10.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.2 percentage points.

Operating Margin

13.1%

YoY+13.1pp

QoQ+9.8pp

5Y change-16.6pp

10Y change+5.8pp

NRG Energy, Inc.'s operating margin was 13.1% in Q2 2026, reflecting core business profitability. This is up 13.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 9.8 percentage points.

Net Margin

6.8%

YoY+8.3pp

QoQ+5.5pp

5Y change-13.8pp

10Y change+18.8pp

NRG Energy, Inc.'s net profit margin was 6.8% in Q2 2026, showing the share of revenue converted to profit. This is up 8.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.5 percentage points.

Return on Equity

10.4%

YoY+15.0pp

QoQ+7.9pp

5Y change-31.9pp

NRG Energy, Inc.'s ROE was 10.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 15.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.9 percentage points.

Capital Allocation

Share Buybacks

$450.0M

YoY+55.7%

QoQ-6.4%

NRG Energy, Inc. spent $450.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 55.7% from the same quarter a year earlier. Against the prior quarter it is down 6.4%.

Capital Expenditures

$338.0M

YoY-10.6%

QoQ+6.6%

5Y CAGR+33.4%

10Y CAGR+7.6%

NRG Energy, Inc. invested $338.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 10.6% from the same quarter a year earlier. Against the prior quarter it is up 6.6%.

R&D Spending

Not reported for Q2 2026.

NRG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NRG quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$33.1B	$30.7B+9.2%	$28.1B-2.4%	$28.8B-8.6%	$31.5B+16.9%	$27.0B+196.8%	$9.1B-7.4%	$9.8B+3.6%	$9.5B+4.5%	$9.1B+1.8%	$8.9B-27.7%	$12.3B-22.3%	$15.9B+40.5%	$11.3B+34.1%	$8.4B-7.2%	$9.1B
Cost of Revenue	$26.9B	$24.8B+12.0%	$22.1B-16.6%	$26.5B-3.5%	$27.4B+34.0%	$20.5B+213.2%	$6.5B-10.4%	$7.3B+2.7%	$7.1B+3.2%	$6.9B+3.1%	$6.7B-25.8%	$9.0B-23.8%	$11.8B+45.2%	$8.1B+32.4%	$6.1B-9.0%	$6.7B
Gross Profit	$6.2B	$6.0B-1.3%	$6.0B+157.7%	$2.3B-42.9%	$4.1B-37.0%	$6.5B+154.9%	$2.6B+1.4%	$2.5B+6.2%	$2.4B+8.3%	$2.2B-2.3%	$2.2B-32.7%	$3.3B-18.0%	$4.1B+28.3%	$3.2B+38.7%	$2.3B-2.2%	$2.3B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	$8.0M+14.3%	$7.0M-36.4%	$11.0M-50.0%	$22.0M-54.2%	$48.0M-68.8%	$154.0M+75.0%	$88.0M+4.8%	$84.0M+23.5%	$68.0M	N/A
SG&A Expenses	$2.5B	$2.6B+11.0%	$2.3B+12.0%	$2.1B+82.9%	$1.1B-11.4%	$1.3B+59.6%	$810.0M+6.6%	$760.0M-4.9%	$799.0M-4.4%	$836.0M-19.0%	$1.0B-16.0%	$1.2B+20.9%	$1.0B+13.5%	$895.0M+10.9%	$807.0M+37.7%	$586.0M
Operating Income	$2.0B	$1.8B-23.9%	$2.4B+531.3%	$384.0M-81.0%	$2.0B-39.6%	$3.3B+202.4%	$1.1B-14.3%	$1.3B+31.4%	$982.0M+232.5%	-$741.0M-2345.5%	$33.0M+100.8%	-$4.1B-418.7%	$1.3B+270.6%	$343.0M-2.0%	$350.0M-44.9%	$635.0M
EBITDA	N/A	$3.3B-15.1%	$3.8B+127.9%	$1.7B-38.7%	$2.7B-33.6%	$4.1B+167.9%	$1.5B-7.4%	$1.7B+18.5%	$1.4B+1067.6%	-$145.0M-118.4%	$789.0M+129.2%	-$2.7B-196.6%	$2.8B+74.7%	$1.6B+23.0%	$1.3B-15.1%	$1.5B
Interest Expense	$1.0B	$741.0M+13.8%	$651.0M-2.4%	$667.0M+60.0%	$417.0M-14.0%	$485.0M+20.9%	$401.0M-2.9%	$413.0M-14.5%	$483.0M-13.3%	$557.0M-4.5%	$583.0M-37.8%	$937.0M-16.3%	$1.1B+32.0%	$848.0M+28.3%	$661.0M-0.6%	$665.0M
Income Tax	$199.0M	$270.0M-16.4%	$323.0M+3036.4%	-$11.0M-102.5%	$442.0M-34.2%	$672.0M+167.7%	$251.0M+107.5%	-$3.3B-47728.6%	$7.0M+115.9%	-$44.0M-276.0%	$25.0M-98.1%	$1.3B+44733.3%	$3.0M+101.1%	-$282.0M+13.8%	-$327.0M+61.2%	-$843.0M
Net Income	$849.0M	$864.0M-23.2%	$1.1B+656.9%	-$202.0M-116.5%	$1.2B-44.2%	$2.2B+328.8%	$510.0M-88.5%	$4.4B+1556.0%	$268.0M+112.4%	-$2.2B-178.2%	-$774.0M+87.9%	-$6.4B-4862.7%	$134.0M+134.7%	-$386.0M-230.8%	$295.0M+49.7%	$197.0M
EPS (Basic)	N/A	$4.09-20.4%	$5.14+558.9%	-$1.12-121.7%	$5.17-42.1%	$8.93+329.3%	$2.08-87.7%	$16.94+1825.0%	$0.88+113.0%	-$6.79-205.9%	-$2.22+88.6%	-$19.46-8560.9%	$0.23+118.9%	-$1.22-199.2%	$1.23+57.7%	$0.78
EPS (Diluted)	$3.81	$4.01-19.6%	$4.99+545.5%	-$1.12-121.7%	$5.17-42.1%	$8.93+331.4%	$2.07-87.7%	$16.81+1832.2%	$0.87+112.8%	-$6.79-205.9%	-$2.22+88.6%	-$19.46	$0.23	-$1.22-200.0%	$1.22+56.4%	$0.78
Diluted Shares (Avg)	N/A	199M-6.1%	212M-7.0%	228M-3.4%	236M-3.7%	245M-0.4%	246M-6.8%	264M-14.3%	308M-2.8%	317M+0.3%	316M-4.0%	329M	339M	323M+38.0%	234M-2.9%	241M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$7.5B+11.0%	$10.3B+19.5%	$7.8B+13.7%	$7.6B+5.7%	$6.7B+1.2%	$8.6B+15.6%	$6.8B+0.2%	$7.2B-9.1%
Cost of Revenue	$5.5B-2.8%	$8.9B+35.0%	$6.3B+30.0%	$6.2B-13.8%	$5.6B+30.1%	$6.6B+15.9%	$4.9B-23.1%	$7.2B+13.0%
Gross Profit	$2.0B+81.0%	$1.4B-30.9%	$1.4B-27.0%	$1.4B+8812.5%	$1.1B-52.3%	$2.0B+14.5%	$1.9B+314.5%	-$16.0M-101.0%
SG&A Expenses	$562.0M-22.4%	$593.0M+8.0%	$717.0M+18.3%	$612.0M-5.1%	$724.0M+32.8%	$549.0M0.0%	$606.0M+11.4%	$645.0M+7.1%
Operating Income	$976.0M	$328.0M-71.1%	$297.0M-68.9%	$414.0M+151.0%	$0-100.0%	$1.1B+30.0%	$954.0M+14.0%	-$812.0M-244.7%
EBITDA	$1.5B+327.3%	$760.0M-47.9%	$673.0M-48.7%	$774.0M+268.3%	$344.0M-80.6%	$1.5B+21.2%	$1.3B+3.5%	-$460.0M-150.0%
Interest Expense	$310.0M+109.5%	$285.0M+74.8%	$243.0M+97.6%	$187.0M-12.2%	$148.0M-9.2%	$163.0M+7.2%	$123.0M-36.9%	$213.0M+23.1%
Income Tax	$157.0M+420.4%	-$42.0M-117.9%	-$2.0M-102.8%	$86.0M+134.8%	-$49.0M-115.6%	$235.0M+27.7%	$72.0M-57.9%	-$247.0M-480.0%
Net Income	$506.0M+586.5%	$125.0M-83.3%	$66.0M-89.7%	$152.0M+119.8%	-$104.0M-114.1%	$750.0M+46.8%	$643.0M+33.4%	-$767.0M-323.6%
EPS (Basic)	$2.32+474.2%	$0.52-85.9%	$0.28-90.8%	$0.70+118.5%	-$0.62-117.9%	$3.70+56.8%	$3.06+51.5%	-$3.79-366.9%
EPS (Diluted)	$2.31+472.6%	$0.52-85.6%	$0.29-90.2%	$0.69+118.2%	-$0.62-118.4%	$3.61+56.3%	$2.97+47.0%	-$3.79-368.8%
Diluted Shares (Avg)	212M+8.2%	208M+2.5%	N/A	195M-5.8%	196M-8.4%	203M-5.1%	N/A	207M-10.8%

Not reported in any period shown, so not listed: R&D Expenses.

NRG Balance Sheet

NRG quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$29.1B+21.3%	$24.0B-7.7%	$26.0B-10.7%	$29.1B+25.7%	$23.2B+55.6%	$14.9B+18.9%	$12.5B+17.9%	$10.6B-54.5%	$23.4B-23.9%	$30.7B-6.7%	$32.9B-18.7%	$40.5B+19.4%	$33.9B-3.1%	$35.0B+30.0%	$26.9B
Current Assets	$13.1B+46.7%	$9.0B-7.8%	$9.7B-40.1%	$16.2B+49.7%	$10.8B+79.8%	$6.0B+95.2%	$3.1B-14.2%	$3.6B-18.9%	$4.4B-33.9%	$6.7B-9.2%	$7.4B-12.1%	$8.4B+10.7%	$7.6B-4.7%	$8.0B+2.9%	$7.7B
Cash & Equivalents	$4.7B+387.4%	$966.0M+78.6%	$541.0M+25.8%	$430.0M+72.0%	$250.0M-93.6%	$3.9B+1031.9%	$345.0M-38.7%	$563.0M-26.9%	$770.0M+30.3%	$591.0M-30.7%	$853.0M-59.7%	$2.1B-6.1%	$2.3B+8.0%	$2.1B+88.9%	$1.1B
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$461.0M-3.6%	$478.0M-21.3%	$607.0M-19.2%	$751.0M+50.8%	$498.0M+52.3%	$327.0M-14.6%	$383.0M-7.0%	$412.0M-9.1%	$453.0M-37.2%	$721.0M-42.4%	$1.3B+0.4%	$1.2B+38.9%	$898.0M-0.6%	$903.0M+193.2%	$308.0M
Accounts Receivable	$4.1B+16.5%	$3.5B-1.5%	$3.5B-25.8%	$4.8B+47.1%	$3.2B+259.0%	$904.0M-11.8%	$1.0B+0.1%	$1.0B+13.8%	$900.0M-14.9%	$1.1B-8.6%	$1.2B-12.5%	$1.3B+8.9%	$1.2B+14.4%	$1.1B+27.2%	$834.0M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$5.0B+0.1%	$5.0B-1.3%	$5.1B+207.8%	$1.6B-8.1%	$1.8B+210.0%	$579.0M0.0%	$579.0M+1.0%	$573.0M+6.3%	$539.0M-18.6%	$662.0M-33.7%	$999.0M-61.2%	$2.6B+29.7%	$2.0B+1.5%	$2.0B+3.7%	$1.9B
Total Liabilities	$27.5B+27.5%	$21.5B-6.9%	$23.1B-8.6%	$25.3B+29.3%	$19.6B+48.1%	$13.2B+21.8%	$10.9B-8.4%	$11.8B-44.4%	$21.3B-18.6%	$26.2B-3.4%	$27.1B-4.8%	$28.5B+22.8%	$23.2B-5.2%	$24.5B+28.9%	$19.0B
Current Liabilities	$8.0B-8.9%	$8.8B-7.2%	$9.5B-26.8%	$13.0B+64.0%	$7.9B+313.3%	$1.9B-18.8%	$2.4B-1.6%	$2.4B-28.5%	$3.4B-28.7%	$4.7B+7.5%	$4.4B-10.0%	$4.9B+15.6%	$4.2B-10.0%	$4.7B-20.3%	$5.9B
Non-Current Liabilities	$19.4B+52.6%	$12.7B-6.6%	$13.6B+10.5%	$12.3B+5.7%	$11.7B+3.2%	$11.3B+33.1%	$8.5B-10.1%	$9.4B-47.4%	$18.0B-16.4%	$21.5B-5.5%	$22.7B-3.7%	$23.6B+24.5%	$19.0B-4.1%	$19.8B+50.9%	$13.1B
Long-Term Debt	$16.4B+67.3%	$9.8B-3.2%	$10.1B+27.0%	$8.0B+0.1%	$8.0B-8.3%	$8.7B+49.8%	$5.8B-10.0%	$6.4B-29.7%	$9.2B-42.5%	$16.0B-15.9%	$19.0B-3.6%	$19.7B+25.0%	$15.8B+0.2%	$15.7B+61.5%	$9.7B
Total Equity	$1.7B-32.2%	$2.5B-14.7%	$2.9B-24.1%	$3.8B+6.3%	$3.6B+114.3%	$1.7B+1.3%	$1.7B+234.4%	-$1.2B-162.7%	$2.0B-55.7%	$4.4B-18.2%	$5.4B-53.5%	$11.7B+11.6%	$10.5B+1.9%	$10.3B+33.9%	$7.7B
Retained Earnings	$2.0B+29.1%	$1.5B+87.2%	$820.0M-41.8%	$1.4B+203.4%	$464.0M+133.1%	-$1.4B+13.2%	-$1.6B+73.2%	-$6.0B+3.9%	-$6.3B-65.5%	-$3.8B-25.9%	-$3.0B-183.8%	$3.6B-2.9%	$3.7B-12.6%	$4.2B+6.1%	$4.0B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$39.9B+65.8%	$40.1B+60.3%	$29.1B+21.3%	$24.0B+1.0%	$24.1B-6.5%	$25.0B-1.6%	$24.0B-7.7%	$23.7B-15.0%
Current Assets	$9.7B+17.8%	$9.9B+0.5%	$13.1B+46.7%	$8.1B-5.7%	$8.2B-16.4%	$9.9B+6.5%	$9.0B-7.8%	$8.6B-9.1%
Cash & Equivalents	$162.0M-10.0%	$178.0M-74.3%	$4.7B+387.4%	$732.0M-33.7%	$180.0M-52.1%	$693.0M+149.3%	$966.0M+78.6%	$1.1B+175.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$793.0M+75.8%	$665.0M+78.3%	$461.0M-3.6%	$452.0M-16.3%	$451.0M-27.6%	$373.0M-35.8%	$478.0M-21.3%	$540.0M-14.3%
Accounts Receivable	$3.5B+3.3%	$3.8B+7.5%	$4.1B+16.5%	$3.3B+2.3%	$3.4B+0.6%	$3.5B+5.6%	$3.5B-1.5%	$3.3B-13.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$8.8B+75.7%	$8.9B+77.2%	$5.0B+0.1%	$5.0B-0.1%	$5.0B-0.8%	$5.0B-1.3%	$5.0B-1.3%	$5.0B-2.4%
Total Liabilities	$35.1B+60.9%	$35.2B+58.4%	$27.5B+27.5%	$22.0B+3.8%	$21.8B-1.5%	$22.2B+0.5%	$21.5B-6.9%	$21.2B-13.1%
Current Liabilities	$10.0B+13.6%	$11.8B+27.4%	$8.0B-8.9%	$7.7B+5.0%	$8.8B+5.8%	$9.3B+1.4%	$8.8B-7.2%	$7.3B-17.7%
Non-Current Liabilities	$25.1B+92.9%	$23.3B+80.7%	$19.4B+52.6%	$14.3B+3.1%	$13.0B-5.9%	$12.9B-0.1%	$12.7B-6.6%	$13.9B-10.4%
Long-Term Debt	$21.7B+121.6%	$19.8B+101.6%	$16.4B+67.3%	$11.2B+7.0%	$9.8B-5.9%	$9.8B+2.6%	$9.8B-3.2%	$10.4B-3.0%
Total Equity	$4.9B+112.2%	$4.9B+75.5%	$1.7B-32.2%	$2.0B-21.8%	$2.3B-36.8%	$2.8B-15.8%	$2.5B-14.7%	$2.5B-28.4%
Retained Earnings	$2.4B+20.5%	$2.0B-8.9%	$2.0B+29.1%	$2.0B+104.9%	$2.0B+5.7%	$2.2B+78.4%	$1.5B+87.2%	$977.0M+129.9%

NRG Cash Flow Statement

NRG quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$1.6B	$1.9B-17.0%	$2.3B+1143.4%	-$221.0M-161.4%	$360.0M-27.0%	$493.0M-73.2%	$1.8B+30.0%	$1.4B+2.6%	$1.4B-14.5%	$1.6B-15.6%	$1.9B+41.4%	$1.3B-10.7%	$1.5B+18.9%	$1.3B+10.5%	$1.1B-1.5%	$1.2B
Depreciation & Amortization	N/A	$1.4B+0.2%	$1.4B+8.3%	$1.3B+79.9%	$720.0M-8.3%	$785.0M+80.5%	$435.0M+16.6%	$373.0M-11.4%	$421.0M-29.4%	$596.0M-21.2%	$756.0M-44.0%	$1.4B-11.3%	$1.5B+21.3%	$1.3B+32.2%	$950.0M+6.0%	$896.0M
Stock-Based Compensation	N/A	$134.0M+31.4%	$102.0M+1.0%	$101.0M+260.7%	$28.0M+33.3%	$21.0M-4.5%	$22.0M+10.0%	$20.0M-20.0%	$25.0M-28.6%	$35.0M+250.0%	$10.0M-74.4%	$39.0M-7.1%	$42.0M+10.5%	$38.0M-7.3%	$41.0M+46.4%	$28.0M
Capital Expenditures	$1.2B	$1.1B+143.0%	$472.0M-21.1%	$598.0M+62.9%	$367.0M+36.4%	$269.0M+17.0%	$230.0M+0.9%	$228.0M-41.2%	$388.0M+52.8%	$254.0M-53.3%	$544.0M-47.1%	$1.0B+13.2%	$909.0M-54.3%	$2.0B-41.5%	$3.4B+47.0%	$2.3B
Free Cash Flow	$348.0M	$766.0M-58.2%	$1.8B+323.9%	-$819.0M-11600.0%	-$7.0M-103.1%	$224.0M-86.1%	$1.6B+35.6%	$1.2B+19.8%	$989.0M-27.1%	$1.4B-0.6%	$1.4B+326.3%	$320.0M-46.8%	$601.0M+183.8%	-$717.0M+68.1%	-$2.2B-96.4%	-$1.1B
Investing Cash Flow	-$8.3B	-$1.6B-6725.0%	-$24.0M+97.4%	-$910.0M-174.1%	-$332.0M+89.1%	-$3.0B-515.2%	-$494.0M-188.8%	$556.0M+371.2%	-$205.0M+67.9%	-$639.0M+15.6%	-$757.0M+50.5%	-$1.5B+47.4%	-$2.9B-14.8%	-$2.5B-11.8%	-$2.3B+25.8%	-$3.0B
Financing Cash Flow	$6.4B	$3.5B+302.1%	-$1.8B-338.8%	-$400.0M-138.4%	$1.0B+483.5%	-$272.0M-112.3%	$2.2B+202.6%	-$2.1B-40.8%	-$1.5B-34.1%	-$1.1B-48.2%	-$768.0M-77.8%	-$432.0M-134.2%	$1.3B-11.4%	$1.4B-32.0%	$2.1B+6260.6%	$33.0M
Dividends Paid	N/A	$411.0M+1.5%	$405.0M+6.3%	$381.0M+14.8%	$332.0M+4.1%	$319.0M+8.1%	$295.0M+821.9%	$32.0M-13.5%	$37.0M-2.6%	$38.0M-50.0%	$76.0M-62.2%	$201.0M+2.6%	$196.0M	N/A	N/A	N/A
Share Buybacks	$1.6B	$1.3B+40.2%	$935.0M-18.7%	$1.1B+91.7%	$600.0M+1150.0%	$48.0M-79.0%	$229.0M-84.1%	$1.4B+15.2%	$1.3B	$0	$0-100.0%	$437.0M+1020.5%	$39.0M+56.0%	$25.0M	$0-100.0%	$430.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.1B+147.7%	-$169.0M-119.8%	$123.0M-87.1%	$484.0M+1461.3%	$451.0M-57.3%	$855.0M+220.2%	$952.0M+295.0%	$31.0M-94.5%
Depreciation & Amortization	$494.0M+43.6%	$432.0M+32.5%	$376.0M+5.0%	$360.0M+2.3%	$344.0M-4.4%	$326.0M-2.1%	$358.0M-4.3%	$352.0M-1.9%
Stock-Based Compensation	N/A	$41.0M+41.4%	N/A	N/A	N/A	$29.0M-3.3%	N/A	N/A
Capital Expenditures	$338.0M-10.6%	$317.0M+46.1%	$298.0M+60.2%	$254.0M+122.8%	$378.0M+267.0%	$217.0M+214.5%	$186.0M+77.1%	$114.0M-32.5%
Free Cash Flow	$779.0M+967.1%	-$486.0M-176.2%	-$175.0M-122.8%	$230.0M+377.1%	$73.0M-92.3%	$638.0M+222.2%	$766.0M+463.2%	-$83.0M-120.9%
Investing Cash Flow	-$637.0M+32.8%	-$7.1B-5177.6%	-$298.0M-59.4%	-$258.0M-170.9%	-$948.0M-769.7%	-$134.0M-45.7%	-$187.0M-110.9%	$364.0M+382.2%
Financing Cash Flow	-$512.0M-72.4%	$2.7B+679.0%	$4.1B+672.3%	$215.0M+161.4%	-$297.0M+26.3%	-$458.0M-59.0%	-$714.0M+64.1%	-$350.0M+38.8%
Share Buybacks	$450.0M+55.7%	$481.0M+53.2%	$353.0M-43.0%	$355.0M+57.1%	$289.0M+221.1%	$314.0M	$619.0M-43.7%	$226.0M+352.0%

Not reported in any period shown, so not listed: Dividends Paid.

NRG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NRG quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	19.4%-2.1pp	21.4%+13.3pp	8.1%-4.9pp	13.0%-11.1pp	24.1%-4.0pp	28.1%+2.4pp	25.6%+0.6pp	25.0%+0.9pp	24.1%-1.0pp	25.1%-1.9pp	27.0%+1.4pp	25.6%-2.4pp	28.0%+0.9pp	27.1%+1.4pp	25.7%
Operating Margin	6.0%-2.6pp	8.6%+7.3pp	1.3%-5.1pp	6.4%-6.0pp	12.4%+0.2pp	12.2%-1.0pp	13.1%+2.8pp	10.4%+18.5pp	-8.2%-8.5pp	0.4%+33.2pp	-32.9%-40.9pp	8.0%+5.0pp	3.0%-1.1pp	4.2%-2.8pp	7.0%
Net Margin	2.8%-1.2pp	4.0%+4.7pp	-0.7%-4.6pp	3.9%-4.2pp	8.1%+2.5pp	5.6%-39.6pp	45.2%+42.4pp	2.8%+26.6pp	-23.7%-15.1pp	-8.7%+43.1pp	-51.8%-52.6pp	0.8%+4.3pp	-3.4%-6.9pp	3.5%+1.3pp	2.2%
Return on Equity	51.4%+6.0pp	45.4%+52.4pp	-7.0%-38.9pp	31.9%-28.9pp	60.8%+30.4pp	30.4%-237.3pp	267.7%	N/A	-109.4%-92.0pp	-17.4%+100.0pp	-117.5%-118.6pp	1.1%+4.8pp	-3.7%-6.6pp	2.9%+0.3pp	2.6%
Return on Assets	3.0%-1.7pp	4.7%+5.5pp	-0.8%-5.0pp	4.2%-5.2pp	9.4%+6.0pp	3.4%-32.0pp	35.4%+32.9pp	2.5%+11.7pp	-9.2%-6.7pp	-2.5%+16.9pp	-19.4%-19.7pp	0.3%+1.5pp	-1.1%-2.0pp	0.8%+0.1pp	0.7%
Current Ratio	1.64+0.6x	1.020.0x	1.02-0.2x	1.25-0.1x	1.37-1.8x	3.15+1.8x	1.31-0.2x	1.50+0.2x	1.32-0.1x	1.43-0.3x	1.690.0x	1.73-0.1x	1.81+0.1x	1.71+0.4x	1.32
Debt-to-Equity	9.76+5.8x	3.96+0.5x	3.49+1.4x	2.08-0.1x	2.21-3.0x	5.17+1.7x	3.50	N/A	4.66+1.1x	3.59+0.1x	3.49+1.8x	1.69+0.2x	1.510.0x	1.53+0.3x	1.27
Asset Turnover	1.05-0.1x	1.17+0.1x	1.110.0x	1.08-0.1x	1.16+0.6x	0.61-0.2x	0.78-0.1x	0.89+0.5x	0.39+0.1x	0.29-0.1x	0.370.0x	0.39+0.1x	0.33+0.1x	0.24-0.1x	0.34
FCF Margin	2.5%-4.0pp	6.5%+9.4pp	-2.8%-2.8pp	0.0%-0.9pp	0.8%-16.8pp	17.7%+5.6pp	12.1%+1.6pp	10.4%-4.5pp	14.9%-0.4pp	15.3%+12.7pp	2.6%-1.2pp	3.8%+10.1pp	-6.3%+20.3pp	-26.7%-14.1pp	-12.6%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	26.9%+10.4pp	13.6%-10.0pp	18.4%-10.2pp	18.3%+18.5pp	16.5%-18.5pp	23.6%-0.2pp	28.6%+21.7pp	-0.2%-19.6pp
Operating Margin	13.1%+13.1pp	3.2%-10.0pp	3.8%-10.2pp	5.4%+16.7pp	0.0%-21.2pp	13.2%+1.5pp	14.0%+1.7pp	-11.2%-18.3pp
Net Margin	6.8%+8.3pp	1.2%-7.5pp	0.9%-8.6pp	2.0%+12.6pp	-1.5%-12.6pp	8.7%+1.9pp	9.4%+2.3pp	-10.6%-14.9pp
Return on Equity	10.4%+15.0pp	2.6%-24.4pp	3.9%-22.0pp	7.7%+38.2pp	-4.5%-24.9pp	27.0%+11.5pp	25.9%+9.4pp	-30.4%-40.2pp
Return on Assets	1.3%+1.7pp	0.3%-2.7pp	0.2%-2.5pp	0.6%+3.9pp	-0.4%-3.3pp	3.0%+1.0pp	2.7%+0.8pp	-3.2%-4.5pp
Current Ratio	0.970.0x	0.84-0.2x	1.64+0.6x	1.05-0.1x	0.93-0.2x	1.06+0.1x	1.020.0x	1.17+0.1x
Debt-to-Equity	4.48+0.2x	4.06+0.5x	9.76+5.8x	5.66+1.5x	4.29+1.4x	3.53+0.6x	3.96+0.5x	4.14+1.1x
Asset Turnover	0.19-0.1x	0.26-0.1x	0.270.0x	0.320.0x	0.280.0x	0.34+0.1x	0.280.0x	0.300.0x
FCF Margin	10.4%+9.3pp	-4.7%-12.2pp	-2.3%-13.5pp	3.0%+4.2pp	1.1%-13.2pp	7.4%+4.8pp	11.2%+9.2pp	-1.1%-6.2pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
NRG Energy, Inc. NRG	FY2025	$30.7B	$864.0M	2.8%	$20.3B	60/100
Talen Energy Corporation TLN	FY2025	$2.6B	-$219.0M	-8.5%	$15.2B	34/100
Vistra Corp. VST	FY2025	$17.7B	$944.0M	5.3%	$47.0B	62/100
PAMPA ENERGIA S.A. PAM	FY2025	$2.0B	$378.0M	18.9%	$4.1B	35/100
KENON HOLDINGS LTD. KEN	FY2025	$871.9M	$148.3M	17.0%	$3.2B	48/100

Where NRG Energy, Inc. Ranks

Frequently Asked Questions

What is NRG Energy, Inc.'s annual revenue?

NRG Energy, Inc. (NRG) reported $30.7B in total revenue for fiscal year 2025. This represents a 9.2% 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 grew by 9.2% year-over-year, from $28.1B to $30.7B in fiscal year 2025.

Is NRG Energy, Inc. profitable?

Yes, NRG Energy, Inc. (NRG) reported a net income of $864.0M in fiscal year 2025, with a net profit margin of 2.8%.

What is NRG Energy, Inc.'s EBITDA?

NRG Energy, Inc. (NRG) had EBITDA of $3.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does NRG Energy, Inc. have?

As of fiscal year 2025, NRG Energy, Inc. (NRG) had $4.7B in cash and equivalents against $16.4B in long-term debt.

What is NRG Energy, Inc.'s gross margin?

NRG Energy, Inc. (NRG) had a gross margin of 19.4% in fiscal year 2025, 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 6.0% in fiscal year 2025, 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 2.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does NRG Energy, Inc. pay dividends?

Yes, NRG Energy, Inc. (NRG) paid $1.76 per share in dividends during fiscal year 2025.

What is NRG Energy, Inc.'s return on equity (ROE)?

NRG Energy, Inc. (NRG) has a return on equity of 51.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is NRG Energy, Inc.'s free cash flow?

NRG Energy, Inc. (NRG) generated $766.0M in free cash flow during fiscal year 2025. This represents a -58.2% 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 $1.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are NRG Energy, Inc.'s total assets?

NRG Energy, Inc. (NRG) had $29.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are NRG Energy, Inc.'s capital expenditures?

NRG Energy, Inc. (NRG) invested $1.1B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does NRG Energy, Inc. buy back shares?

Yes, NRG Energy, Inc. (NRG) spent $1.3B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does NRG Energy, Inc. have outstanding?

NRG Energy, Inc. (NRG) had 215M shares outstanding as of fiscal year 2025.

What is NRG Energy, Inc.'s current ratio?

NRG Energy, Inc. (NRG) had a current ratio of 1.64 as of fiscal year 2025, which is generally considered healthy.

What is NRG Energy, Inc.'s debt-to-equity ratio?

NRG Energy, Inc. (NRG) had a debt-to-equity ratio of 9.76 as of fiscal year 2025, 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 3.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is NRG Energy, Inc.'s P/E ratio?

NRG Energy, Inc. (NRG) trades at 24.0x earnings, its market capitalization divided by net income of $849.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $20.3B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is NRG Energy, Inc.'s price-to-sales ratio?

NRG Energy, Inc. (NRG) trades at 0.6x sales, its market capitalization divided by revenue of $33.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $20.3B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is NRG Energy, Inc.'s Altman Z-Score?

NRG Energy, Inc. (NRG) has an Altman Z-Score of 2.01, 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 4 out of 9, indicating neutral 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 to 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 2.21x, 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 2.49x, 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 60 out of 100 on our Financial Health Score, indicating moderate standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.