Friday 6 November 2026 Export NRG’s income statement to Excel — free account

NRG Energy, Inc.

NRG Utilities Utilities Independent Power Producers

NRG Energy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $30.7 billion, up 9.18% from fiscal 2024.

Revenue: +11.0%
EPS: +474.2%
Free cash flow: +8,715.1%
Total debt: +112.5%

Quarter to June 2026, against a year earlier

81.23 2.02 −2.43%

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Market cap: $16.9B
P/E: 21.4×
Fwd P/E: 11.9×
Dividend yield: 2.34%
F-score: 6/9
Altman Z: 2.25
Beneish M: −2.52
Dividend safety: 72/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

NRG Energy, Inc. (NRG) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2022: revenue by segment, and margins
East Segment	16,686	52.90%
Texas Segment	10,059	31.89%
West/Other	4,758	15.08%
West/Other	4,706	14.92%
Gross margin		13.00%
Operating margin		6.40%
Pre-tax margin		5.27%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012
East Segment	14,060 46.33%	11,484 41.39%	12,168 43.06%	16,686 52.99%	12,866 48.05%	1,934 22.26%	2,078 26.00%	2,160 26.51%	—	—	—	—	—	—
Texas Segment	11,108 36.60%	10,621 38.28%	10,445 36.97%	10,059 31.95%	10,165 37.96%	6,282 72.29%	5,507 68.92%	5,304 65.10%	—	—	—	—	—	—
West/Other	3,202 10.55%	3,819 13.76%	4,241 15.01%	4,706 14.95%	3,659 13.66%	536 6.17%	497 6.22%	703 8.63%	—	—	—	—	—	—
West/Other	3,184 10.49%	3,738 13.47%	4,095 14.49%	4,758 15.11%	3,752 14.01%	481 5.54%	411 5.14%	—	—	—	—	—	—	—
Vivint Smart Home	2,024 6.67%	1,936 6.98%	1,561 5.52%	—	—	—	—	—	—	—	—	—	—	—
Corporate	—	—	—	—	—	—	—	0 0.00%	13 0.14%	74 0.83%	38 0.31%	82 0.52%	19 0.17%	102 1.21%
Retail	—	—	—	—	—	—	—	—	6,369 70.19%	6,330 71.00%	6,913 56.08%	5,503 34.68%	4,341 38.43%	3,872 45.97%
Generation	—	—	—	—	—	—	—	—	3,615 39.84%	3,633 40.75%	5,179 42.01%	11,113 70.03%	—	—
NRG Yield	—	—	—	—	—	—	—	—	—	—	968 7.85%	828 5.22%	387 3.43%	175 2.08%
Renewables	—	—	—	—	—	—	—	—	—	—	383 3.11%	344 2.17%	214 1.89%	122 1.45%
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	(2,002) (12.62%)	(2,308) (20.43%)	(1,828) (21.71%)
NRG Business	—	—	—	—	—	—	—	—	—	—	—	—	8,638 76.48%	5,976 70.96%
Home Solar	—	—	—	—	—	—	—	—	—	—	—	—	4 0.04%	3 0.04%
Eliminations	(3,231) (10.65%)	(3,850) (13.87%)	(4,254) (15.06%)	(4,721) (14.99%)	(3,665) (13.69%)	(543) (6.25%)	(502) (6.28%)	—	(923) (10.17%)	(1,122) (12.59%)	(1,153) (9.35%)	—	—	—
Revenue	30,347	27,748	28,256	31,488	26,777	8,690	7,991	8,148	9,074	8,915	12,328	15,868	11,295	8,422

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012
Texas Segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
East Segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
West/Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Vivint Smart Home	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Retail	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Generation	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NRG Yield	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Renewables	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intersegment Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NRG Business	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Home Solar	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

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.