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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

71.92 1.46 +2.07%

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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 Segments Valuation Filings

Eversource Energy (ES) revenue by segment, product and region

Where the money comes from and where it goes

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 product or service $m

Line	FY2025	FY2023	FY2022	FY2021	FY2018
Residential	6,858 50.62%	6,344 53.27%	6,143 49.98%	5,124 51.95%	4,440 52.55%
Commercial	4,052 29.91%	3,596 30.19%	3,614 29.41%	3,041 30.84%	3,028 35.85%
Wholesale Market Sales Revenues	1,193 8.81%	836 7.02%	1,336 10.87%	662 6.71%	241 2.85%
Wholesale Transmission Revenues	665 4.91%	467 3.92%	436 3.55%	453 4.59%	264 3.12%
Industrial	610 4.50%	524 4.40%	559 4.55%	500 5.07%	442 5.24%
Other Revenues from Contracts with Customers	114 0.84%	124 1.04%	111 0.90%	114 1.16%	82 0.96%
Reserve for Revenues Subject to Refund	—	—	72 0.59%	(79) (0.80%)	—
Reserve Adjustment for Revenue Subject to Refund	—	—	—	—	(24) (0.29%)
Total Retail Tariff Sales Revenues	11,520	10,464	10,316	8,665	7,910
Revenue	13,547	11,911	12,289	9,863	8,448

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Electric Distribution	10,040 74.11%	9,067 76.18%	8,974 75.34%	9,405 76.53%	7,424 75.27%	7,132 80.10%	6,977 81.82%	6,957 82.35%	5,543 71.50%	5,594 73.23%	—	—	—	—	—	—	—
Natural Gas Distribution	2,635 19.45%	2,104 17.68%	2,222 18.65%	2,216 18.03%	1,790 18.14%	1,209 13.57%	1,062 12.46%	1,022 12.10%	947 12.22%	858 11.23%	996 12.51%	1,007 13.01%	856 11.72%	573 9.13%	431 9.65%	434 8.87%	450 8.27%
Electric Transmission	2,283 16.85%	2,121 17.82%	1,916 16.09%	1,809 14.72%	1,635 16.57%	1,536 17.25%	1,389 16.29%	1,286 15.23%	1,302 16.79%	1,210 15.84%	—	—	—	—	—	—	—
Water Distribution	237 1.75%	229 1.93%	233 1.95%	223 1.81%	211 2.14%	215 2.42%	215 2.52%	212 2.51%	16 0.21%	0 0.00%	—	—	—	—	—	—	—
Water Distribution	237 1.75%	229 1.93%	233 1.95%	223 1.81%	211 2.14%	215 2.42%	215 2.52%	212 2.51%	—	—	—	—	—	—	—	—	—
All other segments [member]	—	—	—	—	—	—	—	—	—	870 11.39%	864 10.86%	791 10.22%	778 10.65%	804 12.81%	541 12.12%	522 10.65%	482 8.86%
Electric Distribution	—	—	—	—	—	—	—	—	—	—	5,904 74.21%	5,663 73.15%	5,362 73.44%	4,717 75.18%	3,343 74.86%	3,802 77.62%	4,358 80.13%
Electric Transmission	—	—	—	—	—	—	—	—	—	—	1,069 13.44%	1,018 13.15%	979 13.40%	862 13.73%	635 14.23%	626 12.77%	578 10.62%
Eliminations	—	—	—	—	—	—	—	—	—	—	—	—	(673) (9.22%)	(681) (10.85%)	(485) (10.86%)	(485) (9.91%)	(429) (7.88%)
Eliminations	(1,884) (13.91%)	(1,849) (15.54%)	(1,665) (13.98%)	(1,585) (12.90%)	(1,407) (14.27%)	(1,403) (15.76%)	(1,330) (15.60%)	(1,241) (14.70%)	(56) (0.72%)	(893) (11.69%)	(877) (11.02%)	(738) (9.53%)	—	—	—	—	—
Total	—	—	—	—	—	—	—	—	—	—	—	—	7,301	6,274	4,466	4,898	—
Revenue	13,547	11,901	11,911	12,289	9,863	8,904	8,526	8,448	7,752	7,639	7,955	7,742	7,301	6,274	4,466	4,898	5,439

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Electric Transmission	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electric Distribution	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Natural Gas Distribution	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Water Distribution	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
All other segments [member]	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electric Distribution	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electric Transmission	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Electric, natural gas and water customers	Q3 FY2026	4.0M	4.6M	−13.04%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024
Electric, natural gas and water customers	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.