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OGE Energy Corporation

OGE Utilities Utilities Regulated Electric

OGE Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 9.21% from fiscal 2024.

Revenue
+13.2%
EPS
+33.0%
Free cash flow
−38.6%
Total debt
+0.27%

Quarter to September 2026, against a year earlier

50.37 0.45 −0.89%
Market cap
$10.5B
P/E
19.0×
Fwd P/E
19.8×
Dividend yield
3.35%
F-score
6/9
Altman Z
1.29
Beneish M
−2.14
Dividend safety
30/100
Overview Business Profile Earnings & Analysis
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OGE Energy Corporation (OGE) valuation and DCF model

What the price implies · reverse DCF

At $50.37 the price implies free cash flow after share-based pay growing 24.8% a year for ten years.

The industry’s median company is priced for 23.2%.

In December 2018 the price assumed 8.4% a year; OGE Energy Corporation went on to grow free cash flow after share-based pay −21.2% a year to FY2025.

Price implies
24.8%
Industry median implies
23.2%

The headline discounts the last twelve months’ free cash flow after share-based pay at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
24.8% a year for ten years
$50.37
today’s price

Both are growth in free cash flow after share-based pay, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record OGE Energy Corporation’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Cash flow to equity
the four quarters to September 2026, from the 10-Q and 10-K filings, before share-based pay

Yearly growth in cash flow. It usually slows as the company matures.

Today’s price implies free cash flow after share-based pay growing 24.8% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

Diluted shares outstanding. Net debt, under Advanced inputs, is taken off before dividing.

Advanced inputs
Free cash flow Revenue and margin
negative is net cash
new shares the cash flow does not pay for

Against OGE Energy Corporation’s own cost of capital: risk-free 4.3% + beta 0.48 × equity premium 4.5% = 6.5% cost of equity; weighted, 6.5%.

Use 6.5%
Equity value $(2.40b) ▼ below market cap $10.40b
Base case value per share $(11.61) equity value ÷ 206.43m shares
Current price $50.37 market price per share
Below today’s price 123.1% downside at the base case’s assumptions

How we got there$1.55b 10 years of cash to equity+$1.91b terminal value−$5.85b net debt=$(2.40b) equity value÷206.43m shares=$(11.61) per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Utilities Regulated Electric).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 19.02× 17.00× 16.47× 16% above 19.45× 2% below
P/FCF 50.18× 116.26× 100.34× 50% below 45.34× 11% above
P/B 2.01× 1.78× 1.83× 10% above 1.82× 11% above
EV/EBITDA 11.43× 10.83× 11.77× 3% below 12.40× 8% below
EV/Sales 4.85× 4.40× 4.47× 8% above 4.95× 2% below
P/E P/FCF P/B EV/EBITDA EV/Sales
1.55×1.75×1.95×2.16×10Y avg 1.83×2017201820192020202120222023202420252026

OGE trades at 2.01× P/B, against a 10-year average of 1.83× (range 1.57×–2.15×). That is dearer than 89% of the last 9 year-end readings; re-rating to the average implies $45.92 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.