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Eversource Energy

ES Utilities Utilities Regulated Electric

Eversource Energy’s revenue for fiscal 2025 (year ended December 2025) was $13.5 billion, up 13.8% from fiscal 2024.

Revenue
+2.29%
EPS
−85.4%
Free cash flow
+398.9%
Total debt
+3.37%

Quarter to June 2026, against a year earlier

70.98 0.94 −1.31%
Market cap
$27.1B
P/E
18.6×
Fwd P/E
15.6×
Dividend yield
4.33%
F-score
7/9
Altman Z
0.73
Beneish M
−2.61
Dividend safety
35/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Electric Distribution
  • Natural Gas Distribution
  • Electric Transmission
  • Water Distribution
  • Water Distribution

Every year since 2009 →

Insider Decisions last twelve months

Bought, $m 0.05
Sold, $m 3.31
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 1 — — — — — —
Sell — — 6 1 — — 1 — 1 — — —
Insider Ownership 0.10%

Capital & Financial Ratios $m

Size
Market Cap 27,090.00
Revenue ttm 13,998.37
Net income ttm 1,456.90
Free cash flow ttm 297.71
Net debt Q 27,292.30
Valuation
P/E 18.63
Forward P/E 15.60
Price / sales 1.93
Forward P/S Powerpack
Price / FCF 90.95
Price / book 1.66
Financial health
Current ratio Q 0.80 (below 1: weak)
Debt / equity Q 1.78
Interest coverage Q 1.52
Growth
Revenue growth Q +2.29% (above 0%: growing)
Operating income growth Q −18.43% (below 0%: shrinking)
EPS, this year −2.69% (below 0%: weak)
EPS, next year A +6.09%
Revenue, next year A +0.94%
EPS, past 5 yrs +5.13%
EPS, next 5 yrs A +3.21%

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 3.9×, against a ten-year median of 4.0×; over the ten years it ranged from 3.3× in 2016 to 5.2× in 2020.
P/E against its own 10 years 18.82%
10-year low 10-year high
P/S against its own 10 years 23.65%
10-year low 10-year high
P/B against its own 10 years 36.34%
10-year low 10-year high
EV/Sales against its own 10 years 27.87%
10-year low 10-year high

Dividends

Yield
4.33%
Annual rate
3.12
Payout ratio
80.7%
Growth, 2017–25
+5.92%/yr
  1. 1.90 ’17
  2. 2.02 ’18 +6
  3. 2.14 ’19 +6
  4. 2.27 ’20 +6
  5. 2.41 ’21 +6
  6. 2.55 ’22 +6
  7. 3.38 ’23 +32
  8. 2.86 ’24 −15
  9. 3.01 ’25 +5
  10. 3.14 ’26e +4
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 54 27 135 1,819
Receivables 1,432 1,651 1,847 1,723
Inventory 507 595 492 467
Other 1,900 2,488 2,250 2,088
4,248 5,076 5,077 6,442
2023 2024 2025 Q'26
Payables 1,869 1,737 1,860 1,605
ST’ Debt 825 1,003 1,393 2,503
Other 1,456 1,597 2,650 3,150
6,341 6,721 7,809 8,055

Compound Annual Growth %

10y 5y 3y
Sales 5.47% 8.75% 3.30%
Cash Flow 11.12% 19.58% 19.65%
Earnings 6.78% 7.03% 6.40%
Book Value 4.58% 2.87% 1.54%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.97 Actual 0.92

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.10 1.12 Beat by 0.02
Q1 FY26 1.59 1.73 Beat by 0.14
Q2 FY26 0.88 0.87 Miss by 0.01
Q3 FY26 0.97 0.92 Miss by 0.05
Q4 FY26 1.09 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.61 0.14 — — —
’25 1.50 0.96 0.99 1.12 4.56
’24 1.49 0.95 (0.33) 0.20 2.27
’23 1.41 0.04 0.97 (3.68) (1.26)
’22 1.28 0.84 1.00 0.92 4.05
’21 1.06 0.77 0.82 0.89 3.54
’20 1.01 0.75 1.01 0.79 3.55
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4,504 2,903 — — —
’25 4,118 2,838 3,221 3,370 13,547
’24 3,333 2,534 3,063 2,971 11,901
’23 3,796 2,629 2,791 2,694 11,911
’22 3,471 2,573 3,216 3,030 12,289
’21 2,826 2,123 2,433 2,482 9,863
’20 2,374 1,953 2,344 2,234 8,904
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,324 1,090 — — —
’25 1,041 1,057 1,100 916 4,114
’24 291 671 556 642 2,160
’23 69 578 522 477 1,646
’22 372 470 847 712 2,401
’21 411 396 713 442 1,963
’20 420 585 491 186 1,683
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 315 76 — — —
’25 33 15 (26) (67) (45)
’24 (858) (401) (515) (547) (2,321)
’23 (908) (484) (564) (734) (2,691)
’22 (393) (315) 43 (377) (1,041)
’21 (278) (338) (75) (522) (1,212)
’20 (305) (90) (211) (655) (1,260)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 35.8% a year for ten years.

Implied
35.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.8
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 Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 7,639 7,752 8,448 8,526 8,904 9,863 12,289 11,911 11,901 13,547 13,998 +6.6% 13,674 14,395 15,093 +3.7%
Gross margin, % 67.26 67.30 62.84 64.34 66.45 65.81 59.20 56.61 68.61 68.93 67.80 +1.7 pt
EBT 1,505 1,574 1,329 1,190 1,559 1,572 1,866 (275) 1,244 1,840 1,605 +2.3%
EBT margin, % 19.70 20.31 15.74 13.96 17.51 15.94 15.18 (2.31) 10.45 13.58 11.46 (6.1) pt
Net income 950 996 1,041 917 1,213 1,228 1,412 (435) 819 1,700 1,457 +6.7%
Per share, $
Per share, $ Revenue 24.05 24.42 26.62 26.53 26.28 28.67 35.44 34.07 33.29 36.53 37.18 +4.8%
Earnings 2.97 3.11 3.25 2.83 3.56 3.55 4.05 (1.27) 2.27 4.56 3.86 +4.9%
Cash flow 6.95 6.29 5.77 6.25 4.97 5.71 6.92 4.71 6.04 11.09 11.77 +5.3%
Capex (6.22) (7.40) (8.10) (9.06) (8.69) (9.23) (9.93) (12.41) (12.53) (11.21) (10.98) +6.8%
Free cash flow 0.73 (1.11) (2.33) (2.81) (3.72) (3.52) (3.00) (7.70) (6.49) (0.12) 0.79 n/m
Book value 33.72 34.93 36.19 39.29 41.51 42.44 44.62 40.55 42.07 43.68 43.40 +2.9%
Shares, m 318 317 317 321 339 344 347 350 357 371 374 +1.7%
Valuation, ×
Valuation, × P/E 18.61 20.31 20.01 30.17 24.30 25.63 20.80 0.00 24.86 14.73 18.63 19.9
P/S 2.29 2.59 2.44 3.21 3.29 3.17 2.38 1.87 1.73 1.84 1.93 2.5
P/B 1.63 1.81 1.80 2.16 2.08 2.14 1.89 1.57 1.37 1.54 1.66 1.8
EV/Sales 3.54 4.17 3.98 4.86 5.10 5.01 4.06 3.92 3.97 3.92 3.88 4.3
EV/FCF 116.99 (91.88) (45.47) (45.93) (36.01) (40.78) (47.93) (17.33) (20.34) (1,177.45) 182.62 (140.6)
Cash, $m
Cash, $m Operating cash flow 2,208 1,996 1,831 2,010 1,683 1,963 2,401 1,646 2,160 4,114 4,430 +7.2%
Capex (1,977) (2,348) (2,570) (2,911) (2,943) (3,175) (3,442) (4,337) (4,481) (4,159) (4,133) +8.6%
Free cash flow 231 (352) (739) (902) (1,260) (1,212) (1,041) (2,691) (2,321) (45) 298 n/m
Balance, $m
Balance, $m Working capital (1,161) (1,102) (1,821) (1,191) (1,785) (2,577) (2,576) (2,093) (1,645) (2,731) (1,613) +10.0%
Net debt 9,573 12,287 12,978 14,083 16,072 18,150 20,670 24,360 26,678 28,130 27,292 +12.7%
Shareholders’ equity 10,712 11,086 11,487 12,630 14,064 14,600 15,473 14,174 15,039 16,197 16,340 +4.7%
Returns, %
Returns, % ROA 3.01 2.89 2.77 2.29 2.76 2.58 2.76 (0.81) 1.41 2.74 2.33 (0.3) pt
ROIC 5.67 5.05 4.34 3.72 4.12 3.80 3.80 3.89 3.61 4.21 4.32 (1.5) pt
ROE 8.95 9.07 9.15 7.54 9.03 8.52 9.34 (2.98) 5.56 10.84 9.06 +1.9 pt
People
People Employees 7,762 8,084 7,998 8,234 9,299 9,227 9,626 10,171 10,680 10,731 — +3.7%
Revenue/emp, $m 0.98 0.96 1.06 1.04 0.96 1.07 1.28 1.17 1.11 1.26 — +2.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Business profile

Updated

Eversource Energy is a public utility holding company that delivers electricity and natural gas through regulated subsidiaries. Its electric utilities operate the local networks that bring power to homes and businesses and own high-voltage transmission facilities that carry electricity across New England. Its gas utilities distribute and sell natural gas to customers in Connecticut and Massachusetts.

The company serves residential, commercial and industrial customers. Its local electric businesses purchase power for customers who do not select another supplier, but the utility continues to deliver electricity even when a customer buys the energy itself elsewhere. Gas customers can also buy transportation service separately from gas supply in some cases.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Electric Distribution 10,040 74.11%
Natural Gas Distribution 2,635 19.45%
Electric Transmission 2,283 16.85%
Water Distribution 237 1.75%
Water Distribution 237 1.75%
Gross margin 68.93%
Operating margin 22.06%
Pre-tax margin 13.58%

Revenue by segment since 2009

Eversource Energy 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
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
PCG Pacific Gas & Electric Co. $29.1B 9.8× 11.2× −0.99% (below 0%: shrinking) −8.11% (below 0%: shrinking) −892.50% (below 0%: shrinking) 83.63% 20.18% Compare
DTE DTE Energy Company $28.1B 20.5× 18.8× +5.67% (above 0%: growing) +11.88% (above 0%: growing) +230.17% (above 0%: growing) 0.00% 16.18% Compare
FE FirstEnergy Corporation $27.3B 22.6× 17.1× +9.86% (above 0%: growing) +26.32% (above 0%: growing) −44.47% (below 0%: shrinking) 63.57% 20.52% Compare
ES Eversource Energy $27.1B 18.6× 15.6× +2.29% (above 0%: growing) −85.42% (below 0%: shrinking) +398.93% (above 0%: growing) 67.64% 18.63%
PPL PPL Corporation $27.1B 21.2× 18.7× +4.25% (above 0%: growing) +24.00% (above 0%: growing) −112.80% (below 0%: shrinking) 71.67% 22.50% Compare
CNP CenterPoint Energy, Inc. $26.5B 22.8× 23.3× +10.21% (above 0%: growing) +11.29% (above 0%: growing) −27.29% (below 0%: shrinking) 91.42% 30.44% Compare
EIX Edison International $23.4B 6.5× 9.9× −15.03% (below 0%: shrinking) −12.96% (below 0%: shrinking) +41.59% (above 0%: growing) 65.47% 20.06% Compare
Median of peers $27.7B 20.8× 18.8× +4.32% +11.82% −35.88% 68.57% 21.23%

All 39 Utilities Regulated Electric stocks →

From the latest earnings call

Updated

  • Joseph R. Nolan said the company was pursuing regulatory and financing actions, including storm-cost securitization, to strengthen its balance sheet and reduce business risk.
  • John M. Moreira said Eversource reaffirmed its $26.5 billion utility infrastructure capital plan through 2030 and forecast $5.1 billion of 2026 capital expenditures.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 85.75%
Held by the ten largest 48.09%
Holder Shares Stake Change
Vanguard 48.93m 12.99% +487.21k
BlackRock 42.71m 11.34% +565.14k
State Street 28.48m 7.56% +318.55k
Geode Capital Management 11.54m 3.06% +240.60k
AQR Capital Management 10.62m 2.82% +6.69m
Fidelity (FMR) 9.56m 2.54% −3.24m
UBS 8.64m 2.30% +226.04k
Victory Capital 8.55m 2.27% +1.24m
Invesco 6.06m 1.61% +583.42k
Morgan Stanley 6.04m 1.60% +153.11k
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.

Eversource Energy (ES) Latest News

5 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · Zacks
Impact 3 · · Moby

4 Nov

Impact 3 · · GlobeNewswire

28 Oct

Impact 3 ·

20 Oct

Impact 4 · · GlobeNewswire

16 Oct

Impact 4 · · TIKR
Impact 3 · · Barchart

15 Oct

Impact 4 · · TIKR

1 Oct

Impact 4 · · MarketBeat

30 Sep

Impact 3 · · Zacks

29 Sep

Impact 4 · · GlobeNewswire

25 Sep

Impact 3 · · Simply Wall St.

21 Sep

Impact 4 · · GuruFocus.com

16 Sep

Impact 4 ·

13 Aug

Impact 4 ·

7 Aug

Impact 3 · · The Motley Fool transcript

5 Aug

Impact 3 ·

4 Aug

Impact 3 ·
Impact 3 ·
Impact 3 · · utilitydive.com

3 Aug

Impact 3 ·

31 Jul

Impact 4 ·
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby

30 Jul

Impact 3 ·

29 Jul

Impact 3 · · ctinsider.com

11 Jul

Impact 4 ·

9 Jul

Impact 4 ·

7 Jul

Impact 3 · · utilitydive.com

ES metrics, ten years each

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