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Consolidated Edison Inc

ED Utilities Utilities Regulated Electric

Consolidated Edison Inc’s revenue for fiscal 2025 (year ended December 2025) was $16.9 billion, up 10.9% from fiscal 2024.

Revenue
+8.45%
EPS
+8.38%
Free cash flow
+238.0%
Total debt
+4.82%

Quarter to September 2026, against a year earlier

121.41 1.11 +0.92%
Market cap
$44.8B
P/E
19.4×
Fwd P/E
18.2×
Dividend yield
2.89%
F-score
6/9
Altman Z
1.06
Beneish M
−2.63
Dividend safety
47/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2017

  • Electric
  • Gas
  • Non-utility
  • Steam

Every year since 2016 →

Insider Decisions last twelve months

Bought, $m 0.00
Sold, $m 1.33
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — 1 — — 1 — — 1 — —
Sell 1 — 1 1 — — — — — — — —
Insider Ownership 0.60%

Capital & Financial Ratios $m

Size
Market Cap 44,750.00
Revenue ttm 18,072.00
Net income ttm 2,295.00
Free cash flow ttm 4,305.00
Net debt Q 26,744.00
Valuation
P/E 19.36
Forward P/E 18.20
Price / sales 2.49
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.71
Financial health
Current ratio Q 1.18
Debt / equity Q 1.02
Interest coverage Q 3.69
Growth
Revenue growth Q +8.45% (above 0%: growing)
Operating income growth Q +20.87% (above 0%: growing)
EPS, this year +7.18%
EPS, next year A +6.26%
Revenue, next year A +3.77%
EPS, past 5 yrs +11.45%
EPS, next 5 yrs A +6.70%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.0×, against a ten-year median of 3.6×; over the ten years it ranged from 2.6× in 2016 to 4.1× in 2022.
P/E against its own 10 years 57.21%
10-year low 10-year high
P/S against its own 10 years 99.34%
10-year low 10-year high
P/B against its own 10 years 93.11%
10-year low 10-year high
EV/Sales against its own 10 years 95.34%
10-year low 10-year high

Dividends raised every year since 2018

Yield
2.89%
Annual rate
3.51
Payout ratio
56.2%
Growth, 2018–26
+2.74%/yr
  1. 2.86 ’18
  2. 2.96 ’19 +3
  3. 3.06 ’20 +3
  4. 3.10 ’21 +1
  5. 3.16 ’22 +2
  6. 3.24 ’23 +3
  7. 3.32 ’24 +2
  8. 3.40 ’25 +2
  9. 3.55 ’26 +4
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,189 1,324 1,629 100
Receivables 2,863 2,877 2,826 —
Inventory 469 485 530 —
Other 1,546 1,533 1,384 —
6,537 6,664 6,750 6,225
2023 2024 2025 Q'26
Payables 1,775 1,676 1,947 1,877
ST’ Debt 250 500 750 —
Other 1,665 1,573 1,752 —
6,462 6,433 6,614 5,282

Compound Annual Growth %

10y 5y 3y
Sales 3.03% 6.68% 2.59%
Cash Flow 3.89% 16.91% 6.85%
Earnings 5.42% 12.94% 6.81%
Book Value 6.36% 4.88% 5.01%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.74 Actual 0.83

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.76 1.90 Beat by 0.14
Q4 FY25 0.84 0.89 Beat by 0.05
Q1 FY26 2.32 2.17 Miss by 0.15
Q2 FY26 0.74 0.83 Beat by 0.09
Q3 FY26 2.07 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 2.54 0.83 2.06 — —
’25 2.25 0.68 1.90 0.82 5.64
’24 2.08 0.58 1.69 0.89 5.24
’23 4.05 0.65 1.52 0.96 7.21
’22 1.70 0.72 1.72 0.53 4.66
’21 1.22 0.48 1.52 0.63 3.85
’20 1.12 0.57 1.47 0.13 3.28
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 5,095 4,069 4,913 — —
’25 4,798 3,595 4,530 3,995 16,918
’24 4,280 3,220 4,092 3,664 15,256
’23 4,403 2,944 3,872 3,444 14,663
’22 4,060 3,415 4,165 4,030 15,670
’21 3,677 2,971 3,613 3,415 13,676
’20 3,234 2,719 3,333 2,960 12,246
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 174 1,797 854 — —
’25 837 1,979 504 1,480 4,800
’24 573 1,339 392 1,310 3,614
’23 92 1,072 17 975 2,156
’22 473 1,484 661 1,317 3,935
’21 289 1,104 319 1,021 2,733
’20 412 768 188 830 2,198
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1,105) 394 854 — —
’25 (425) 569 (619) 30 (445)
’24 (771) 73 (866) (67) (1,631)
’23 2,735 (77) (1,077) (4,306) (2,725)
’22 (469) 331 (545) 113 (570)
’21 (806) 22 (118) (12) (914)
’20 (553) (194) (861) (413) (2,021)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 3.4% a year for ten years.

Implied
3.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

3.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 12,075 12,033 12,337 12,574 12,246 13,676 15,670 14,663 15,256 16,918 18,072 +3.8% 17,555 18,432 19,240 +4.4%
Gross margin, % 74.43 78.18 76.10 79.06 81.36 79.86 73.96 75.09 78.12 75.74 0.00 +1.3 pt
EBT 1,943 1,997 1,783 1,736 1,234 1,383 2,098 3,003 2,138 2,597 3,034 +3.3%
EBT margin, % 16.09 16.60 14.45 13.81 10.08 10.11 13.39 20.48 14.01 15.35 16.79 (0.7) pt
Net income 1,245 1,525 1,382 1,440 1,144 1,193 1,600 2,516 1,820 2,023 2,295 +5.5%
Per share, $
Per share, $ Revenue 40.20 39.18 39.58 38.28 36.58 39.25 44.20 42.17 44.09 47.34 48.83 +1.8%
Earnings 4.15 4.97 4.43 4.09 3.29 3.86 4.68 7.25 5.26 5.66 6.27 +3.5%
Cash flow 11.51 10.96 8.65 9.54 6.57 7.84 11.10 6.20 10.45 13.43 11.63 +1.7%
Capex (12.10) (11.91) (12.03) (10.93) (12.60) (10.47) (12.71) (14.04) (15.16) (14.68) 0.00 +2.2%
Free cash flow (0.58) (0.94) (3.38) (1.39) (6.04) (2.62) (1.61) (7.84) (4.71) (1.25) 11.63 +8.8%
Book value 47.62 50.23 54.02 55.44 56.94 58.37 58.93 60.85 63.47 67.68 71.05 +4.0%
Shares, m 300 307 312 329 335 348 355 348 346 357 365 +1.9%
Valuation, ×
Valuation, × P/E 17.79 16.88 17.22 22.17 21.90 22.10 20.46 12.82 16.96 17.52 19.36 18.6
P/S 1.83 2.13 1.93 2.36 1.98 2.17 2.17 2.19 2.02 2.10 2.49 2.1
P/B 1.55 1.66 1.42 1.63 1.27 1.46 1.63 1.52 1.41 1.47 1.71 1.5
EV/Sales 2.99 3.40 3.39 3.86 3.70 3.77 3.44 3.62 3.59 3.56 3.98 3.5
EV/FCF (206.07) (140.87) (39.62) (106.54) (22.40) (56.48) (94.49) (19.49) (33.54) (135.21) (75.71) (85.5)
Cash, $m
Cash, $m Operating cash flow 3,459 3,367 2,695 3,134 2,198 2,733 3,935 2,156 3,614 4,800 4,305 +3.7%
Capex (3,634) (3,657) (3,750) (3,589) (4,219) (3,647) (4,505) (4,881) (5,245) (5,245) (5,255) +4.2%
Free cash flow (175) (290) (1,055) (455) (2,021) (914) (570) (2,725) (1,631) (445) 4,305 +10.9%
Balance, $m
Balance, $m Working capital (437) (1,365) (2,343) (2,015) (2,053) 124 1,636 75 231 136 943 n/m
Net debt 13,944 15,185 17,964 18,756 21,078 21,898 19,914 20,988 23,827 24,672 26,744 +6.5%
Shareholders’ equity 14,306 15,425 16,839 18,213 19,065 20,336 20,889 21,158 21,962 24,190 26,295 +6.0%
Returns, %
Returns, % ROA 2.65 3.17 2.71 2.40 1.82 2.14 2.51 3.72 2.66 2.79 3.08 +0.1 pt
ROIC 6.15 5.66 4.78 4.52 4.13 4.18 4.02 4.74 3.64 3.75 3.99 (2.4) pt
ROE 9.10 10.26 8.57 7.66 5.91 6.83 8.05 11.98 8.44 8.77 9.10 (0.3) pt
People
People Employees 14,960 15,591 15,296 14,890 14,071 13,871 14,319 14,592 15,097 15,407 — +0.3%
Revenue/emp, $m 0.81 0.77 0.81 0.84 0.87 0.99 1.09 1.00 1.01 1.10 — +3.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Consolidated Edison, Inc., or Con Edison, is a holding company headquartered in Manhattan. It was founded in 1998. Timothy P. Cawley is Chairman, President and Chief Executive Officer.

The company owns Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R), and Con Edison Transmission, Inc. Its principal work is delivering electricity, natural gas and steam through regulated utility networks. CECONY delivers electricity, gas and steam in New York City and nearby Westchester County. O&R delivers electricity and gas in southeastern New York and northern New Jersey. Con Edison Transmission develops and invests in electric-transmission projects and holds electric and gas assets through joint ventures.

Where the money comes from and where it goes Fiscal 2017

Fiscal 2017: revenue by products and services, and margins
Electric 8,612 71.57%
Gas 2,133 17.73%
Non-utility 693 5.76%
Steam 595 4.94%
Gross margin 78.18%
Operating margin 23.05%
Pre-tax margin 16.60%

Revenue by segment since 2016

Consolidated Edison Inc 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
D Dominion Energy Inc. $61.3B 23.2× 22.5× +24.08% (above 0%: growing) +12.07% (above 0%: growing) +50.09% (above 0%: growing) 68.86% 32.79% Compare
ETR Entergy Corporation $52.7B 25.0× 25.0× +14.51% (above 0%: growing) +29.75% (above 0%: growing) −295.69% (below 0%: shrinking) 72.75% 33.93% Compare
XEL Xcel Energy Inc. $51.6B 18.6× 19.5× +6.56% (above 0%: growing) +71.48% (above 0%: growing) +5.89% (above 0%: growing) 72.99% 28.55% Compare
EXC Exelon Corporation $48.2B 18.1× 16.2× +9.16% (above 0%: growing) −18.60% (below 0%: shrinking) −410.43% (below 0%: shrinking) 60.14% 18.84% Compare
ED Consolidated Edison Inc $44.8B 19.4× 18.2× +8.45% (above 0%: growing) +8.38% (above 0%: growing) +237.96% (above 0%: growing) 0.00% 23.81%
WEC WEC Energy Group, Inc. $38.9B 21.3× 20.7× +8.87% (above 0%: growing) +41.67% (above 0%: growing) +86.39% (above 0%: growing) 71.57% 24.61% Compare
PEG Public Service Enterprise Group Incorporated $36.4B 20.7× 17.6× −6.39% (below 0%: shrinking) −39.11% (below 0%: shrinking) −139.44% (below 0%: shrinking) 62.75% 20.60% Compare
FTS Fortis $31.3B 23.2× 22.6× +4.39% (above 0%: growing) +28.66% (above 0%: growing) −10.20% (below 0%: shrinking) 47.83% 30.08% Compare
AEE Ameren Corporation $31.2B 19.7× 20.5× −5.81% (below 0%: shrinking) +11.76% (above 0%: growing) −51.22% (below 0%: shrinking) 73.90% 21.94% Compare
Median of peers $43.5B 21.0× 20.6× +7.72% +20.37% −30.71% 70.22% 26.58%

All 39 Utilities Regulated Electric stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 75.78%
Held by the ten largest 44.31%
Holder Shares Stake Change
Vanguard 47.32m 12.80% +1.23m
BlackRock 41.67m 11.27% +2.21m
State Street 25.09m 6.79% +214.09k
Geode Capital Management 10.69m 2.89% +363.71k
LAZARD ASSET MANAGEMENT LLC 8.42m 2.28% +1.34m
UBS 8.10m 2.19% +2.08m
Deutsche Bank (DWS) 6.77m 1.83% +974.39k
T. Rowe Price 5.64m 1.52% +438.59k
Morgan Stanley 5.52m 1.49% +158.84k
Norges Bank 4.67m 1.26% +4.67m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Consolidated Edison Inc (ED) Latest News

26 Oct

Impact 3 · · Zacks
Impact 3 · · Barchart

8 Oct

Impact 3 · · Zacks

7 Oct

Impact 4 · · Simply Wall St.

6 Oct

Impact 4 · · MarketBeat

30 Sep

Impact 4 · · PR Newswire

15 Sep

Impact 3 ·

10 Sep

Impact 3 ·

12 Aug

Impact 4 · · utilitydive.com

6 Aug

Impact 3 ·

5 Aug

Impact 3 ·

21 Jul

Impact 3 · · Barchart

4 Jul

Impact 3 ·

15 Jun

Impact 3 ·

11 Jun

Impact 4 ·

17 May

Impact 3 · · Insider Monkey

16 May

Impact 3 · · Simply Wall St.

12 May

Impact 4 · · utilitydive.com

8 May

Impact 4 · · PR Newswire
Impact 3 · · Zacks

7 May

Impact 3 · · Zacks
Impact 3 · · PR Newswire

5 May

Impact 3 · · Zacks

9 Apr

Impact 3 · · Barrons.com

8 Apr

Impact 4 · · Zacks
Impact 3 · · Zacks

18 Mar

Impact 3 · · utilitydive.com

15 Mar

Impact 4 · · Simply Wall St.

11 Mar

Impact 3 · · 24/7 Wall St.

8 Mar

Impact 4 · · Insider Monkey

ED metrics, ten years each

stockrow.com/ED · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com