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Ameren Corporation

AEE Utilities Utilities Regulated Electric

Ameren Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.8 billion, up 15.4% from fiscal 2024. In the quarter to June 2026, revenue fell 5.81%, EPS grew 11.8%, free cash flow fell 51.2% and total debt rose 9.28%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, operating cash flow growth for three.

106.08 2.32 +2.24%
Market cap
$28.7B
P/E
18.5×
Fwd P/E
20.3×
Dividend yield
2.79%
F-score
6/9
Altman Z
0.90
Beneish M
−2.39
Dividend safety
46/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 8.66
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 6 — — 5 4 — 2 — — 3 1 —
Insider Ownership 0.36%

Capital & Financial Ratios $m

Market Cap 28,730.00
Revenue 8,749.00
Net Income 1,568.00
Free Cash Flow (1,450.00)
Net Debt 20,576.00
Current Ratio 0.53 (below 1: weak)
Debt/Equity 1.49
P/E ratio 18.51
Fwd P/E 20.30
P/S ratio 3.36
P/B ratio 2.13
Past 5Y EPS Growth 8.86%
This Y EPS Growth 7.28%
Next Y EPS Growth 7.57%
Next Y revenue growth 3.30%
Next 5Y EPS Growth 7.89%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.7×, against a ten-year median of 4.8×; over the ten years it ranged from 2.9× in 2016 to 5.9× in 2026.
P/E against its own 10 years 13.53%
10-year low 10-year high
P/S against its own 10 years 75.86%
10-year low 10-year high
P/B against its own 10 years 54.81%
10-year low 10-year high
EV/Sales against its own 10 years 94.10%
10-year low 10-year high

Dividends

Payout Ratio 0.52
Annual Dividend Rate 2.96
Annual Dividend Yield 2.79%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 3.00
0.75
0.75
0.75
2025 2.84
0.71
0.71
0.71
0.71
2024 2.68
0.67
0.67
0.67
0.67
2023 2.52
0.63
0.63
0.63
0.63
2022 2.36
0.59
0.59
0.59
0.59
2021 2.20
0.55
0.55
0.55
0.55
2020 2.00
0.50
0.50
0.50
0.52
2019 1.92
0.48
0.48
0.48
0.50
2018 1.85
0.46
0.46
0.46
0.48
2017 1.78
0.44
0.44
0.44
0.46
2016 1.72
0.43
0.43
0.43
0.44
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 25 7 13 12
Receivables 600 621 772 799
Inventory 733 762 774 800
Other 823 874 1,012 1,033
2,181 2,264 2,571 2,644
2023 2024 2025 Q'26
Payables 1,136 1,059 1,254 998
ST’ Debt 849 317 973 1,524
Other 677 698 808 990
3,345 3,413 3,907 4,978

Compound Annual Growth %

10y 5y 3y
Sales 3.73% 8.72% 3.41%
Cash Flow 5.14% 14.19% 14.00%
Earnings 8.74% 10.82% 10.68%
Book Value 6.68% 8.30% 8.35%

Revenue $m

Mar Jun Sep Dec Year
’26 2,176 2,092 — — —
’25 2,097 2,221 2,699 1,782 8,799
’24 1,816 1,693 2,173 1,941 7,623
’23 2,062 1,760 2,060 1,618 7,500
’22 1,879 1,726 2,306 2,046 7,957
’21 1,566 1,472 1,811 1,545 6,394
’20 1,440 1,398 1,628 1,328 5,794
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 421 770 — — —
’25 431 862 1,104 956 3,353
’24 492 557 897 817 2,763
’23 496 615 920 533 2,564
’22 388 484 727 664 2,263
’21 (35) 471 756 469 1,661
’20 290 404 635 398 1,727
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1,175) (310) — — —
’25 (651) (205) 115 (80) (821)
’24 (410) (470) (260) (507) (1,647)
’23 (455) (306) 158 (604) (1,207)
’22 (402) (286) (172) (257) (1,117)
’21 (923) (408) (109) (422) (1,862)
’20 (381) (209) (26) (956) (1,572)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.28 1.13 — — —
’25 1.07 1.01 2.35 0.92 5.35
’24 0.98 0.97 1.70 0.77 4.42
’23 1.00 0.90 1.87 0.60 4.38
’22 0.97 0.80 1.74 0.63 4.14
’21 0.91 0.80 1.65 0.48 3.84
’20 0.59 0.98 1.47 0.46 3.50
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 41.50 51.35 51.89 63.13 58.74 69.79 73.28 69.71 67.03 86.81

Analyst estimates 2026–2028

Powerpack
High 54.08 64.89 70.95 80.85 87.66 90.77 99.20 91.18 95.69 106.73
People
People Employees 8,629 8,615 8,838 9,323 9,183 9,116 9,244 9,372 8,981 8,913
Revenue/emp, $m 0.70 0.72 0.71 0.63 0.63 0.70 0.86 0.80 0.85 0.99
Income, $m
Income, $m Revenue 6,076 6,174 6,291 5,910 5,794 6,394 7,957 7,500 7,623 8,799
Gross margin, % 71.87 72.69 72.60 75.94 77.99 74.52 66.36 71.11 73.75 69.84
EBT 1,041 1,105 1,058 1,016 1,032 1,152 1,255 1,340 1,270 1,597
EBT margin, % 17.13 17.90 16.82 17.19 17.81 18.02 15.77 17.87 16.66 18.15
Net income 659 529 821 834 877 995 1,079 1,157 1,187 1,461
Depreciation 945 974 1,053 1,100 1,175 1,300 1,459 1,516 1,624 1,687
Per share, $
Per share, $ Revenue 25.05 25.45 25.80 24.06 23.46 24.95 30.79 28.54 28.57 32.53
Earnings 2.69 2.16 3.34 3.37 3.53 3.86 4.16 4.39 4.43 5.38
Cash flow 8.73 8.73 8.90 8.84 6.99 6.48 8.76 9.76 10.36 12.40
Capex (8.78) (9.05) (9.59) (9.94) (13.36) (13.75) (13.08) (14.35) (16.53) (15.43)
Free cash flow (0.06) (0.32) (0.69) (1.11) (6.36) (7.26) (4.32) (4.59) (6.17) (3.04)
Book value 29.86 30.20 31.88 33.39 36.76 38.35 41.16 43.68 45.89 50.02
Shares, m 243 243 244 246 247 256 258 263 267 271
Valuation, ×
Valuation, × P/E 19.47 26.91 19.53 22.79 22.11 23.00 21.27 16.86 20.12 18.53
P/S 2.09 2.29 2.53 3.19 3.33 3.57 2.87 2.59 3.12 3.07
P/B 1.75 1.93 2.05 2.30 2.12 2.32 2.15 1.69 1.94 2.00
EV/Sales 3.29 3.58 3.87 4.77 5.22 5.61 4.60 4.72 5.43 5.25
EV/FCF (1,426.74) (286.89) (144.80) (103.69) (19.23) (19.26) (32.80) (29.32) (25.11) (56.26)
Cash, $m
Cash, $m Operating cash flow 2,117 2,118 2,170 2,170 1,727 1,661 2,263 2,564 2,763 3,353
Capex (2,131) (2,195) (2,338) (2,442) (3,299) (3,523) (3,380) (3,771) (4,410) (4,174)
Free cash flow (14) (77) (168) (272) (1,572) (1,862) (1,117) (1,207) (1,647) (821)
Balance, $m
Balance, $m Working capital (1,081) (1,328) (1,154) (1,074) (527) (858) (698) (1,164) (1,149) (1,336)
Total debt 7,276 7,935 8,439 9,357 11,086 13,067 14,025 15,970 17,579 19,187
Net debt 7,267 7,925 8,423 9,341 10,947 13,051 13,775 15,945 17,572 19,174
Shareholders’ equity 7,245 7,326 7,773 8,201 9,080 9,829 10,637 11,478 12,243 13,530
Returns, %
Returns, % ROA 2.70 2.07 3.07 2.95 2.86 2.92 2.92 2.93 2.77 3.13
ROIC 5.69 5.78 5.24 4.51 4.06 3.64 3.88 3.55 3.18 3.87
ROE 9.11 7.18 10.80 10.37 10.08 10.47 10.50 10.42 9.97 11.30
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Ameren Corporation vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WEC WEC Energy Group, Inc. $34.6B 21.0× 20.2× +2.62% (above 0%: growing) +19.48% (above 0%: growing) −1,365.55% (below 0%: shrinking) 73.06% 20.99% Compare
AEE Ameren Corporation $28.7B 18.5× 20.3× −5.81% (below 0%: shrinking) +11.76% (above 0%: growing) −51.22% (below 0%: shrinking) 73.90% 21.94%
PCG Pacific Gas & Electric Co. $28.5B 9.5× 11.2× +0.07% (above 0%: growing) +37.50% (above 0%: growing) −2.64% (below 0%: shrinking) 84.50% 21.40% Compare
FTS Fortis $27.9B 22.6× 21.5× +4.02% (above 0%: growing) +1.82% (above 0%: growing) +29.48% (above 0%: growing) 45.92% 27.43% Compare
DTE DTE Energy Company $26.7B 20.5× 19.4× −1.46% (below 0%: shrinking) +22.73% (above 0%: growing) −179.77% (below 0%: shrinking) 51.91% 13.59% Compare
FE FirstEnergy Corporation $26.4B 24.6× 16.8× +8.82% (above 0%: growing) +8.70% (above 0%: growing) −143.84% (below 0%: shrinking) 64.30% 18.41% Compare
CNP CenterPoint Energy, Inc. $26.2B 23.9× 22.8× +10.70% (above 0%: growing) +23.33% (above 0%: growing) −4.04% (below 0%: shrinking) 86.94% 24.81% Compare
PPL PPL Corporation $26.0B 20.7× 18.6× +4.25% (above 0%: growing) +24.00% (above 0%: growing) −112.80% (below 0%: shrinking) 71.67% 22.50% Compare
ES Eversource Energy $24.9B 17.3× 15.4× +2.29% (above 0%: growing) −85.42% (below 0%: shrinking) +398.93% (above 0%: growing) 67.64% 18.63% Compare
Median of peers $26.5B 20.8× 19.0× +3.32% +21.11% −58.42% 69.66% 21.20%

All 40 Utilities Regulated Electric stocks →

AEE metrics, ten years each

Ameren Corporation (AEE) key facts

  • Strength: Ameren Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.8 billion, up 15.4% from fiscal 2024.
  • Strength: Net income was $1.5 billion, or $5.38 per share (basic), a net margin of 16.6%.
  • Ameren Corporation (AEE) is an Utilities Regulated Electric company in the Utilities sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, AEE traded at $106.08, a market capitalization of $28.7 billion.
  • At that price the stock trades at 18.5× trailing-twelve-month earnings and 3.4× sales; its P/E is higher than 14% of its own readings over the past ten years.
  • Ameren Corporation pays an annual dividend of $2.96 per share, a yield of 2.79%, with a payout ratio of 52.1%.
  • Return on equity was 11.3% and debt-to-equity 1.49.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 0.90 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Ameren Corporation (AEE) Latest News

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stockrow.com/AEE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com