— Know what they know.
/
Not Investment Advice

AEP

NASDAQ · USD
American Electric Power Company, Inc.
Utilities · Regulated Electric
CEO William J. Fehrman Employees 17,581 R&D / revenue 0.0%
Last price
$127.14+2.29%last session
Market cap
$69.2B
P/E (TTM)
21.8x
From 52w high
−9.6%
From 52w low
+13.0%
1-year return
+9.0%
RSI 14 · vs SMA200
66.5 · −0.1%
IS score
48.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

AEP   SPY   XLU (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26SPY 116AEP 109XLU 92

Score DNA

Each bar is a 0-100 score within the scored universe
61
Profitability
35
Growth
53
Value
66
Momentum
15
Risk (safety)
67
Quality
25
Balance sheet
79
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
▲ Altman distress zone▲ Share count rising
Observations
Moat model: Weak, Cost AdvantagePiotroski 5 / 9Altman Z 0.9Beta 0.503 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
1 open-market sales, $250,000
Form 144 notices (12m): 5, $2.2M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
5
Last disclosed purchase 2026-08-26
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+51
175 new holders, 101 closed
1,992 filers hold 92.9% · 889 added, 593 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+255
1,051 funds adding shares
796 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
45.6%
20-day avg 54.1%, 50-day avg 50.9%
Latest 8.5 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$21.8B
Revenue growth YoY+9.4%
Gross margin31.8%
Operating income$5.3B
Operating margin24.3%
Net income$3.6B
Net margin16.4%
EPS (diluted)$6.66
Cash flow
Operating cash flow$6.9B
Capital expenditure$130.0M
Free cash flow$6.8B
FCF conversion (FCF / OCF)98.1%
Stock-based compensation$0
FCF less SBC$6.8B
Buybacks$0
Dividends$2.0B
Balance sheet & returns
Cash & short-term investments$488.0M
Total debt$49.6B
Net debt$49.1B
Shareholders' equity$32.3B
Goodwill & intangibles$53.0M
Debt / equity1.66
ROE (TTM)10.0%
ROIC (TTM)5.1%
Operating margin by fiscal year
19.6%FY202117.6%FY202221.3%FY202323.3%FY202424.3%FY2025
Revenue $16.6B (FY2021) to $21.8B (FY2025), a 7.0% CAGR.

Valuation

P/E (TTM)21.8x
EV / EBITDA14.2x
Price / sales3.07x
Price / FCF7.7x
FCF yield12.94%
Buyback yield0.00%
SBC / revenue0.0%
Price / book2.15x
Forward P/E FY202619.9x
Forward P/E FY202718.5x
Forward P/E FY202816.8x
Forward multiples divide today's price by Street EPS estimates. Street mean target $135.67 across 6 analysts last quarter is theirs, not ours.

AEP vs industry median

139 companies in Regulated Electric
Gross margin 49.0% 39.0% Operating margin 28.4% 19.1% Net margin 13.9% 13.0% ROIC 5.1% 5.7%
AEP (TTM)Industry median Asset turnover 0.19 vs industry 0.24 · financial leverage 3.78

Earnings delivery

Next report 2026-10-28 · consensus EPS $2.03
67%
beat rate, 8 of 12 quarters
+2.2%
median EPS surprise
3
longest beat streak
+4-3+2+2+3-1+10+13-1+3+4-8
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
AEP American Electric Power Comp $69.2B21.8x10.0%13.9%+9.4% +9.0%
D Dominion Energy, Inc. $55.9B22.0x9.1%7.5%+20.3% +6.1%
DUK Duke Energy Corporation $94.7B18.2x9.9%14.4%+6.7% −1.3%
ETR Entergy Corporation $50.2B26.5x10.5%13.8%+9.5% +10.2%
XEL Xcel Energy Inc. $47.7B20.8x9.9%18.8%+4.7% −5.9%
ELC Entergy Louisiana, LLC COLLA $45.8B4.6x12.6%13.7%+9.5% —
SO The Southern Company $104.9B21.9x12.7%16.8%+6.4% —
EXC Exelon Corporation $44.8B15.9x9.7%6.6%+6.6% —
12-month window: SPY +15.9%, sector ETF XLU −8.1%. Past returns describe history only.

Recent 8-K filings

2026-09-30Officer/Director Change
2026-07-30Earnings Release; Exhibits
2026-07-21Officer/Director Change
2026-05-05Earnings Release; Exhibits
2026-04-29Shareholder Vote; Exhibits
2026-02-17Departure/Election of Directors; Appointment of Officers

Context

Shares outstanding544,397,000
Free float99.8%
Institutional ownership92.9%
Beta0.50
Dividend yield2.99%
Last dividend$0.95 on 2026-08-10
50 / 200-day average$122.62 / $127.41
Large-cap Utilities median P/E20.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where AEP sits among 45 scored companies in Regulated Electric (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureAEPIndustry medianIndustry percentileSector median
P/E (TTM) 22.0x 19.6x
82nd		 20.7x
PEG (P/E ÷ 3-yr EPS CAGR) 1.57 1.94
35th		 2.20
Price / sales 3.1x 2.4x
73rd		 2.4x
Price / book 2.2x 1.8x
75th		 1.9x
Price / tangible book 2.3x 2.0x
70th		 2.1x
Price / free cash flow 9.3x 13.7x
42nd		 34.3x
Price / operating cash flow 9.1x 9.1x
51st		 9.2x
Enterprise value $122.1B $51.2B
91st		 $25.7B
EV / sales 5.4x 3.9x
73rd		 4.5x
EV / EBITDA 14.2x 11.6x
91st		 11.9x
EV / EBIT 24.5x 19.5x
93rd		 19.6x
EV / free cash flow 16.3x 25.9x
37th		 35.3x
Earnings yield 4.5% 5.1%
18th		 4.8%
FCF yield 10.8% -1.8%
82nd		 -4.2%
Operating cash flow yield 11.0% 10.7%
51st		 10.3%
Graham number (per share) $86.56 $56.02
82nd		 $48.77

Profitability (TTM)

MeasureAEPIndustry medianIndustry percentileSector median
Gross margin 49.0% 43.4%
59th		 43.4%
EBITDA margin 38.2% 40.2%
39th		 38.7%
Operating margin 28.4% 22.2%
98th		 20.9%
EBIT margin 22.1% 23.8%
39th		 23.2%
Net margin 13.9% 13.5%
59th		 12.4%
NOPAT margin 25.6% 19.3%
95th		 18.1%
FCF margin 33.2% -5.6%
98th		 -7.6%
Operating cash flow margin 33.8% 29.1%
70th		 28.3%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 3.6% 3.8%
49th		 4.2%
Stock comp / revenue 0.0% 0.0%
0th		 0.0%
Effective tax rate 9.9% 13.7%
32nd		 18.4%

Returns on capital

MeasureAEPIndustry medianIndustry percentileSector median
ROE (on average equity) 10.1% 10.5%
48th		 9.5%
ROA 2.7% 2.7%
55th		 2.6%
ROIC 6.8% 5.5%
86th		 5.5%
ROCE 4.6% 5.3%
27th		 5.1%
Return on tangible assets 4.3% 4.9%
18th		 4.7%
Cash ROIC (OCF / invested capital) 9.0% 8.6%
59th		 8.0%
Gross profitability (GP / assets) 9.1% 9.1%
50th		 8.6%
ROIC, 3-yr average 5.0% 4.4%
77th		 4.2%
ROIC, 5-yr average 4.7% 4.3%
67th		 4.2%
ROE, 5-yr average 10.2% 10.7%
42nd		 9.1%
Incremental ROIC 27.0% 21.9%
70th		 20.6%

Growth

MeasureAEPIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 7.7% 8.0%
43rd		 7.2%
Revenue growth (QoQ) -9.6% -16.9%
68th		 -16.9%
Revenue CAGR, 3 yr 4.6% 2.8%
75th		 3.0%
Revenue CAGR, 5 yr 7.4% 5.6%
76th		 6.3%
Gross profit CAGR, 3 yr 28.5% 8.0%
80th		 7.9%
Operating income CAGR, 3 yr 19.9% 10.5%
89th		 9.4%
Net income growth (TTM YoY) -13.9% 8.5%
12th		 8.6%
Net income CAGR, 3 yr 16.5% 9.5%
82nd		 8.8%
EPS growth (TTM YoY) -16.2% 2.3%
14th		 4.2%
EPS CAGR, 3 yr 14.0% 6.6%
86th		 6.6%
EPS CAGR, 5 yr 4.1% 4.1%
50th		 4.0%
FCF growth (TTM YoY) 249.0% -65.2%
80th		 -60.5%
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr 22.1% 17.7%
70th		 12.7%
Book value CAGR, 3 yr 8.0% 4.8%
86th		 4.7%
Dividend CAGR, 3 yr -0.8% 0.3%
26th		 0.3%
Sustainable growth rate 3.5% 3.8%
34th		 3.7%

Margin history & stability

MeasureAEPIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 37.2% 44.0%
25th		 42.6%
Operating margin, 3-yr average 25.2% 21.9%
89th		 20.0%
Net margin, 3-yr average 14.9% 13.0%
68th		 12.5%
FCF margin, 3-yr average 13.2% -4.3%
95th		 -7.9%
Revenue stability (0-1) 0.95 0.75
89th		 0.75
Earnings stability (0-1) 0.51 0.43
55th		 0.51
Margin stability (0-1) 0.73 0.83
27th		 0.84

Liquidity (latest quarter)

MeasureAEPIndustry medianIndustry percentileSector median
Cash & short-term investments $603.0M $241.0M
64th		 $215.5M
Net cash (− = net debt) −$52.9B −$24.6B
20th		 −$12.1B
Working capital −$7.0B −$794.4M
2nd		 −$284.5M
Current ratio 0.50 0.80
7th		 0.82
Quick ratio 0.38 0.66
9th		 0.69
Cash ratio (cash + ST investments / current liabilities) 0.04 0.07
41st		 0.08
Defensive interval (days) 286 days 286 days
50th		 314 days

Leverage & solvency (latest quarter)

MeasureAEPIndustry medianIndustry percentileSector median
Total debt $53.5B $25.1B
82nd		 $12.5B
Debt / equity 1.66 1.68
43rd		 1.61
Net debt / equity 1.65 1.67
45th		 1.60
Debt / assets 44.0% 44.6%
48th		 43.4%
Debt / capital 62.5% 62.7%
43rd		 61.8%
Debt / EBITDA 6.22 5.59
80th		 5.59
Net debt / EBITDA 6.15 5.54
84th		 5.53
Interest coverage (EBIT / interest) 2.3x 2.4x
30th		 2.4x
Cash interest coverage 3.5x 3.1x
68th		 3.0x
Debt payback (years of OCF) 7.0 yrs 7.5 yrs
37th		 7.5 yrs
Liabilities / assets 72.6% 73.0%
48th		 70.8%
IS credit model rating B — —
Implied credit spread (bps) 750 750
34th		 750

Efficiency

MeasureAEPIndustry medianIndustry percentileSector median
Asset turnover 0.20 0.21
41st		 0.20
Fixed asset turnover 0.23 0.27
23rd		 0.27
Inventory turnover 6.7 6.7
52nd		 8.7
Receivables turnover 11.2 8.7
84th		 8.4
Days sales outstanding 32 days 41 days
16th		 43 days
Days inventory outstanding 54 days 54 days
49th		 42 days
Days payables outstanding 106 days 77 days
77th		 75 days
Cash conversion cycle (days) −19 days 15 days
12th		 14 days
Capex / revenue 0.6% 33.3%
0th		 35.1%
Capex / depreciation 0.04 2.35
0th		 2.40
Operating expense ratio 23.1% 30.3%
30th		 30.7%

Cash flow & earnings quality

MeasureAEPIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.42 2.19
66th		 2.20
FCF / net income 2.38 −0.32
98th		 −0.74
FCF / operating cash flow 98.2% -20.3%
100th		 -33.3%
Capex / operating cash flow 1.8% 120.3%
0th		 133.3%
Accruals ratio -3.9% -3.3%
18th		 -3.2%
Sloan accruals ratio -4.8% -3.7%
23rd		 -3.7%
Earnings quality score (0-1) 1.00 1.00
16th		 1.00

Dividends & buybacks

MeasureAEPIndustry medianIndustry percentileSector median
Dividend yield 3.0% 3.3%
23rd		 3.3%
Dividend per share (TTM) $3.80 $2.56
86th		 $1.87
Payout ratio (dividends / net income) 65.2% 65.4%
48th		 63.9%
Dividends / FCF 27.4% 59.8%
17th		 65.6%
Dividend growth (YoY) 1.3% 3.9%
25th		 3.9%
Buyback yield 0.0% 0.0%
0th		 0.0%
Shareholder yield (dividends + buybacks) 3.0% 3.3%
32nd		 3.3%
Share count change (YoY) 2.6% 2.2%
64th		 2.5%
Buybacks, last 5 years $0 $0
0th		 $0

Scores & forensic checks

MeasureAEPIndustry medianIndustry percentileSector median
IS score 48 42
84th		 40
IS profitability 61 50
86th		 44
IS growth 35 49
14th		 50
IS value 53 58
18th		 56
IS momentum 66 77
16th		 78
IS risk (safety) 15 15
0th		 15
IS quality 67 66
57th		 64
IS balance sheet 25 25
43rd		 28
IS earnings quality 79 79
52nd		 79
IS cash flow 86 35
100th		 35
Piotroski F-score (0-9) 5 6
14th		 6
Altman Z-score 0.9 0.8
66th		 0.9
Beneish M-score −2.79 −2.60
26th		 −2.64
Ohlson O-score −7.28 −7.06
39th		 −7.04
IS credit score 26 27
36th		 29

Per share

MeasureAEPIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $5.70 $3.90
82nd		 $3.13
Book value per share $58.38 $34.68
80th		 $32.52
Tangible book per share $61.19 $34.58
93rd		 $32.45
Revenue per share $40.90 $27.50
77th		 $24.86
FCF per share $13.58 −$1.01
98th		 −$1.64
Operating cash flow per share $13.83 $8.38
80th		 $7.00
Cash per share $1.10 $0.80
64th		 $0.83

Size (TTM)

MeasureAEPIndustry medianIndustry percentileSector median
Market cap $69.2B $21.5B
91st		 $8.5B
Revenue $22.5B $12.5B
80th		 $5.4B
EBITDA $8.6B $4.3B
80th		 $2.7B
Net income $3.1B $1.3B
80th		 $559.7M
Free cash flow $7.5B −$189.0M
95th		 −$190.6M
Total assets $121.6B $56.2B
80th		 $34.0B
Shareholders' equity $32.1B $12.5B
82nd		 $5.1B
Employees 17,581 9,950
82nd		 5,870

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-01Ferneau Kelly J
Executive Vice President
 Tax withholding 362$119.75$43,35015,364
2026-10-01Berntsen Robert
Executive Vice President
 Tax withholding 1,425$119.75$170,64420,405
2026-09-30Marriott David S
Director
 Award / grant 379——379
2026-09-30Meyers Charles J
Director
 Award / grant 379——379
2026-09-08Dixon Kate
Controller, CAO
 Open-market sale 2,000$125.00$250,00015,856
2026-08-01Fehrman William
Director, CEO and President
 Tax withholding 6,283$128.32$806,235133,539
2026-08-01Hall Greg B
Executive Vice President
 Tax withholding 1,741$128.32$223,40534,408
2026-05-01Dixon Kate
Controller, CAO
 Tax withholding 636$136.91$87,07517,780
2026-05-01Cannon Douglas A
President AEP Transmission
 Tax withholding 1,770$136.91$242,33125,655
2026-05-01Hall Greg B
Executive Vice President
 Tax withholding 4,306$136.91$589,53436,019
2026-04-28Hall Greg B
Executive Vice President
 — 17,268——0
2026-04-28Hall Greg B
Executive Vice President
 — 1,191——0

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantDisposed4758—
Award / grantAcquired180—
Open-market saleDisposed12,000$250,000
Tax withholdingDisposed716,523$2.2M
—Disposed518,459—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 5 notices · 17,457 shares · $2.2M
FiledFilerShares proposedEst. proceeds
2026-09-08Dixon Kate2,000$250,000
2026-02-27Ulrich Phillip R.4,106$542,320
2026-02-24Ferneau Kelly J1,351$177,602
2025-12-12Fowke Benjamin G S Iii5,000$575,350
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 15 trades (8 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHouseSale$15,001 - $50,0002026-10-09
2026-08-26David TaylorHousePurchase$1,001 - $15,0002026-09-07
2026-08-25David J. TaylorHousePurchase$1,001 - $15,0002026-09-07
2026-06-05David TaylorHousePurchase$1,001 - $15,0002026-06-15
2021-01-15Gary PetersSenatePurchase$1,001 - $15,0002021-02-02
2021-01-15Gary PetersSenatePurchase$1,001 - $15,0002021-02-01
2021-01-15Gary C. PetersSenatePurchase$1,001 - $15,0002021-02-01
2020-12-14Gary PetersSenatePurchase$1,001 - $15,0002021-01-05
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.51,024,057$7.0B9.37%
VANGUARD CAPITAL MANAGEMENT LLC35,529,471$4.9B6.53%
STATE STREET CORP30,783,142$4.2B5.65%
VANGUARD PORTFOLIO MANAGEMENT LLC23,492,086$3.2B4.32%
Invesco Ltd.19,527,874$2.7B3.59%
GEODE CAPITAL MANAGEMENT, LLC14,404,302$2.0B2.65%
WELLINGTON MANAGEMENT GROUP LLP13,872,005$1.9B2.55%
BANK OF AMERICA CORP /DE/12,269,851$1.7B2.25%
GOLDMAN SACHS GROUP INC10,965,480$1.5B2.01%
GQG Partners LLC10,263,074$1.4B1.89%
AMERIPRISE FINANCIAL INC9,728,413$1.3B1.79%
FMR LLC9,302,934$1.3B1.71%
FRANKLIN RESOURCES INC9,147,997$1.3B1.68%
DODGE & COX8,674,355$1.2B1.59%
MORGAN STANLEY7,399,384$1.0B1.36%

Institutional ownership by quarter

2023-092026-0692.9%
% of shares held by 13F filers
2023-092026-061,992
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,99292.9%175889593101
2026-03-311,94182.3%230747627125
2025-12-311,86881.6%27176153381
2025-09-301,71981.1%18873047983
2025-06-301,64479.9%128701506137
2025-03-311,67381.0%24568247775
2024-12-311,53175.4%205587513139
2024-09-301,49674.7%16355851584
2024-06-301,42974.2%15954847868
2024-03-311,35773.3%135544466119
2023-12-311,35672.7%212450512107
2023-09-301,28071.7%119497444130

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%40,827,015
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-04-17SCHEDULE 13G/ABlackRock, Inc.7.5%40,248,240
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.09%$2.0B
VTI0.09%$2.0B
VSMPX0.09%$2.0B
VTSAX0.09%$2.0B
VOO0.10%$1.7B
VFIAX0.10%$1.7B

Share structure

Shares outstanding544,397,000
Float543,480,235
Free float99.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$16.6B$19.3B$19.4B$19.9B$21.8B
Cost of revenue$12.0B$14.4B$13.8B$13.6B$14.9B
Gross profit$4.7B$4.9B$5.6B$6.4B$6.9B
R&D$0$0$0$0$0
SG&A$0$0$0$0$0
Operating income$3.3B$3.4B$4.1B$4.8B$5.3B
EBITDA$6.8B$7.1B$7.2B$8.1B$8.8B
Pretax income$2.6B$2.3B$2.3B$2.9B$3.8B
Income tax$115.5M$5.4M$54.6M−$39.2M$129.0M
Net income$2.5B$2.3B$2.2B$3.0B$3.6B
EPS, diluted$4.96$4.49$4.24$5.58$6.66
Diluted shares501.8M513.5M520.2M531.3M520.2M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$623.8M$697.0M$544.4M$418.3M$488.0M
Receivables$1.9B$2.7B$2.4B$2.6B$2.9B
Inventory$989.2M$1.4B$1.9B$1.7B$1.6B
Total current assets$7.8B$6.8B$6.1B$5.8B$6.1B
PP&E, net$66.6B$74.0B$77.3B$83.0B$93.0B
Goodwill & intangibles$52.5M$52.5M$52.5M$52.5M$53.0M
Total assets$87.7B$93.4B$96.7B$103.1B$117.2B
Accounts payable$2.1B$2.7B$2.0B$2.6B$3.4B
Total current liabilities$12.4B$13.3B$11.6B$13.0B$13.3B
Long-term debt$31.3B$34.3B$37.7B$39.3B$44.7B
Total liabilities$65.0B$69.3B$71.4B$76.1B$85.0B
Shareholders' equity$22.7B$24.1B$25.3B$27.0B$32.3B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$2.5B$2.3B$2.2B$3.0B$3.6B
Depreciation & amortization$3.0B$3.3B$3.2B$3.4B$3.5B
Stock-based compensation$0$63.3M$0$0$0
Change in working capital−$76.6M−$237.7M−$703.5M$510.3M$341.0M
Operating cash flow$3.8B$5.3B$5.0B$6.8B$6.9B
Capital expenditure−$5.8B−$6.8B−$7.5B−$139.9M−$130.0M
Free cash flow−$1.9B−$1.5B−$2.5B$6.7B$6.8B
Investing cash flow−$6.4B−$7.8B−$6.3B−$7.6B−$9.1B
Net debt issued / repaid$3.6B$3.5B$1.9B$2.1B$3.5B
Buybacks$0$0$0$0$0
Dividends paid−$1.5B−$1.6B−$1.8B−$1.9B−$2.0B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin28.1%25.2%29.0%31.3%31.8%
Operating margin19.6%17.6%21.3%23.3%24.3%
Net margin15.0%11.9%11.4%14.9%16.4%
FCF margin-11.6%-7.7%-12.9%-4.9%31.3%
ROE11.6%10.0%9.0%11.4%12.3%
ROIC5.3%5.2%5.9%6.5%6.3%
ROA3.0%2.5%2.3%3.0%3.2%
Debt / equity1.631.741.731.701.61
Interest coverage3.1x2.7x2.2x2.5x2.6x
Current ratio0.630.510.530.440.45
Revenue growth+11.5%+16.2%+0.3%+2.8%+9.4%
EPS growth+11.5%−9.0%−6.0%+32.5%+23.2%
P/E at year end15.6x18.9x17.9x16.0x16.8x
EV / EBITDA at year end11.3x11.8x11.4x11.6x12.5x
FCF yield at year end-4.97%-3.41%-6.31%-2.04%11.36%
Dividend payout60.8%71.3%79.7%64.2%56.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Vertically Integrated Utilities$10.0B$11.5B$11.5B——
Transmission And Distribution Companies$4.5B$5.5B$5.7B$5.9B$6.1B
Generation And Marketing$2.2B$2.5B$2.0B$1.9B$2.7B
AEP Transmission Holdco$1.5B$1.7B$1.8B——
Product and Service, Other———$483.0M$526.0M

Street estimates by fiscal year

Next report 2026-10-28 · consensus EPS $2.03 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$23.5B$22.2B – $24.6B$6.39$6.25 – $6.551119.9x
2027$24.8B$22.7B – $26.1B$6.87$6.78 – $7.061218.5x
2028$26.7B$23.1B – $30.7B$7.59$7.50 – $7.72616.8x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$1.48$1.36−8.1%$5.3B$5.4B+1.9%
2026-05-05$1.57$1.64+4.5%$5.7B$6.0B+5.3%
2026-02-12$1.15$1.19+3.5%$4.9B$5.3B+8.7%
2025-10-29$1.81$1.80−0.6%$5.7B$6.0B+5.2%
2025-07-30$1.27$1.43+12.6%$5.0B$5.1B+2.5%
2025-05-06$1.40$1.54+10.0%$5.2B$5.5B+5.8%
2025-02-13$1.25$1.24−0.8%$4.9B$4.7B−4.3%
2024-11-06$1.80$1.85+2.8%$5.4B$5.4B−0.3%
2024-07-30$1.23$1.25+1.6%$4.7B$4.6B−3.4%
2024-04-30$1.25$1.27+1.6%$5.0B$5.0B+0.1%
2024-02-26$1.27$1.23−3.1%$5.1B$4.6B−9.6%
2023-11-02$1.70$1.77+4.1%$5.4B$5.3B−0.8%
2023-07-27$1.12$1.13+0.9%$4.7B$4.4B−7.0%
2023-05-04$1.14$1.11−2.6%$4.7B$4.7B−0.3%
2023-02-23$0.99$1.05+6.1%$3.5B$4.9B+38.9%
2022-10-27$1.56$1.62+3.8%$4.8B$5.5B+16.2%
2022-07-27$1.19$1.20+0.8%$4.1B$4.6B+13.9%
2022-04-28$1.20$1.22+1.7%$4.5B$4.6B+2.1%
2022-02-24$0.93$0.98+5.4%$3.7B$4.1B+8.9%
2021-10-28$1.46$1.43−2.1%$4.0B$4.6B+14.5%
2021-07-22$1.14$1.18+3.5%$4.4B$3.8B−12.1%
2021-04-22$1.17$1.15−1.7%$3.9B$4.3B+9.7%
2021-02-25$0.79$0.87+10.1%$4.0B$3.6B−8.6%
2020-10-22$1.48$1.47−0.7%$4.1B$4.1B−0.7%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.306-150.706-220.506-290.607-060.507-130.507-200.707-270.708-030.308-100.408-170.408-240.308-31
Week ofNotionalSharesTrades
2026-08-31$331.3M2,684,61267,546
2026-08-24$422.9M3,457,69479,654
2026-08-17$439.8M3,526,80284,217
2026-08-10$341.4M2,753,44481,664
2026-08-03$741.5M5,852,670103,558
2026-07-27$660.5M5,065,855107,775

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1545.6%
DateShort shareShort volumeTotal volume
2026-10-1545.6%568,6871,246,804
2026-10-1452.3%602,8941,152,048
2026-10-1346.7%390,103834,785
2026-10-1252.4%340,678650,505
2026-10-0939.9%306,663769,317
2026-10-0857.7%470,780816,263
2026-10-0757.9%640,5291,106,029
2026-10-0647.2%387,431820,614
2026-10-0564.2%595,667928,093
2026-10-0258.7%849,2281,447,314
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.0Jan-0.1Feb+1.7Mar+2.0Apr-0.4May-0.3Jun+2.7Jul-0.2Aug-1.1Sep+3.2Oct+1.2Nov+1.3Dec
MonthAvg returnUp yearsYears
Jan+1.0%55%20
Feb−0.1%55%20
Mar+1.7%81%21
Apr+2.0%70%20
May−0.4%45%20
Jun−0.3%45%20
Jul+2.7%65%20
Aug−0.2%55%20
Sep−1.1%45%20
Oct+3.2%80%20
Nov+1.2%55%20
Dec+1.3%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1466.5
MFI74.5
ADX24.2
Stochastic %K / %D83.1 / 88.4
Williams %R-9.2
CCI146
TSI / signal14.5 / -4.7
Chaikin money flow0.10
ATR$2.18
Bollinger width9.3%
Volume vs 20-day avg0.88x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$121.31 (+4.8%)
SMA 50$122.64 (+3.7%)
SMA 200$127.26 (−0.1%)
EMA 21$122.78 (+3.6%)
EMA 50$123.55 (+2.9%)
EMA 200$124.38 (+2.2%)
Bollinger upper$126.97 (+0.1%)
Bollinger lower$115.65 (+9.9%)
Parabolic SAR$121.33 (+4.8%)
Open the live chart, 110+ indicators

About American Electric Power Company, Inc.

American Electric Power Company, Inc. (AEP) operates as a prominent electric utility holding company, with its core business encompassing the generation, transmission, and delivery of electricity. Serving both retail and wholesale clients across the United States, AEP organizes its extensive operations into several key segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing. The firm produces its electrical power from a diverse portfolio of energy sources, including coal, lignite, natural gas, nuclear, hydroelectric, solar, and wind power, alongside other emerging technologies. Beyond direct consumer sales, AEP also functions as a major wholesale electricity supplier, providing power to other utility companies, rural electric cooperatives, municipalities, and various other participants within the energy market. Incorporated in 1906, the company's corporate headquarters are situated in Columbus, Ohio.

https://www.aep.com

Key executives

NameTitlePayBorn
William J. FehrmanChairman, President & Chief Executive Officer$7.2M1960
Douglas A. CannonPresident of AEP Transmission$2.6M1976
Trevor Ian MihalikExecutive Vice President & Chief Financial Officer$2.6M1967
Robert BerntsenExecutive Vice President, General Counsel & Secretary$2.2M1970
Alicia R. KnappPresident of Nuclear Development$1.6M1979
Johannes G. EckertExecutive Vice President and Chief Information & Technology Officer$1.3M1968
Kate DixonSenior Vice President, Controller & Chief Accounting Officer—1985
Quinton LiesInterim President of Nuclear Development—1971

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
William J. Fehrman President and Chief Executive Officer2025$1.5M$29.3M$4.3M$36.6M
Trevor I. Mihalik Executive Vice President and Chief Financial Officer2025$930,000$10.9M$1.5M$13.5M
Douglas A. Cannon President - AEP Transmission2025$449,231$4.1M$665,232$6.7M
Robert B. Berntsen Executive Vice President, General Counsel, and Secretary2025$378,462$3.3M$492,200$5.5M
Alicia R. Knapp President - Nuclear Development2025$209,231$2.7M$282,989$4.4M
Charles E. Zebula Former Executive Vice President and Chief Financial Officer2025$147,789$123,307$0$556,996

Employees

18k201817k201917k202017k202117k202217k202316k202418k2025

Dividends

Ex-dateAmountPaid
2026-08-10$0.952026-09-10
2026-05-08$0.952026-06-10
2026-02-10$0.952026-03-10
2025-11-10$0.952025-12-10
2025-08-08$0.932025-09-10
2025-05-09$0.932025-06-10
2025-02-10$0.932025-03-10
2024-11-08$0.932024-12-10

Moat model

Weak · Cost Advantage · 2026-06-30
Cost advantage61
Intangibles55
Switching costs52
Network effect35
Efficient scale42
Our component scores (0-100) and overall 50.5; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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