— Know what they know.
/
Not Investment Advice

ED

NYSE · USD
Consolidated Edison, Inc.
Utilities · Regulated Electric
CEO Timothy Cawley Employees 15,407 R&D / revenue 0.0%
Last price
$112.26+2.18%last session
Market cap
$41.4B
P/E (TTM)
18.3x
From 52w high
−3.4%
From 52w low
+18.2%
1-year return
+12.0%
RSI 14 · vs SMA200
74.5 · +3.9%
IS score
50.8/ 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

ED   SPY   XLU (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26SPY 116ED 112XLU 92

Score DNA

Each bar is a 0-100 score within the scored universe
42
Profitability
56
Growth
58
Value
84
Momentum
30
Risk (safety)
72
Quality
41
Balance sheet
76
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ FCF yield 5%+✓ Insider buying
Warnings
▲ Altman distress zone▲ Share count rising
Observations
Moat model: Weak, Intangible AssetsPiotroski 8 / 9Altman Z 1.2Beta 0.263 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
2
$0.00M bought
Form 144 notices (12m): 3, $1.3M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+12
132 new holders, 97 closed
1,439 filers hold 77.7% · 623 added, 393 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+242
1,162 funds adding shares
920 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
72.9%
20-day avg 71.6%, 50-day avg 66.4%
Latest 1.3 pp over 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$16.9B
Revenue growth YoY+10.9%
Gross margin62.0%
Operating income$2.9B
Operating margin17.3%
Net income$2.0B
Net margin12.0%
EPS (diluted)$5.64
Cash flow
Operating cash flow$4.8B
Capital expenditure$4.8B
Free cash flow$36.0M
FCF conversion (FCF / OCF)0.8%
Stock-based compensation$0
FCF less SBC$36.0M
Buybacks$0
Dividends$1.2B
Balance sheet & returns
Cash & short-term investments$1.6B
Total debt$28.4B
Net debt$26.7B
Shareholders' equity$24.2B
Goodwill & intangibles$406.0M
Debt / equity1.10
ROE (TTM)8.9%
ROIC (TTM)3.4%
Operating margin by fiscal year
20.5%FY202116.8%FY202215.8%FY202317.9%FY202417.3%FY2025
Revenue $13.7B (FY2021) to $16.9B (FY2025), a 5.5% CAGR.

Valuation

P/E (TTM)18.3x
EV / EBITDA9.3x
Price / sales2.34x
Price / FCF8.2x
FCF yield12.26%
Buyback yield0.00%
SBC / revenue0.0%
Price / book1.61x
Forward P/E FY202618.4x
Forward P/E FY202717.3x
Forward P/E FY202816.2x
Forward multiples divide today's price by Street EPS estimates. Street mean target $104.20 across 10 analysts last quarter is theirs, not ours.

ED vs industry median

139 companies in Regulated Electric
Gross margin 61.6% 39.0% Operating margin 18.0% 19.1% Net margin 12.5% 13.0% ROIC 3.4% 5.7%
ED (TTM)Industry median Asset turnover 0.23 vs industry 0.24 · financial leverage 2.97

Earnings delivery

Next report 2026-11-05 · consensus EPS $2.00
92%
beat rate, 11 of 12 quarters
+3.8%
median EPS surprise
10
longest beat streak
+1+4+14+4+4+3+2+5+9+4-5+10
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-08-06. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
ED Consolidated Edison, Inc. $41.4B18.3x8.9%12.5%+10.9% +12.0%
EXCVV Exelon Corporation $41.1B3.8x9.9%11.0%+5.3% —
EXC Exelon Corporation $44.8B15.9x9.7%6.6%+6.6% −4.8%
ELC Entergy Louisiana, LLC COLLA $45.8B4.6x12.6%13.7%+9.5% −13.9%
XEL Xcel Energy Inc. $47.7B20.8x9.9%18.8%+4.7% −5.9%
PEG Public Service Enterprise Gr $35.6B17.7x11.8%13.1%+12.7% −12.3%
WEC WEC Energy Group, Inc. $35.4B20.9x12.4%14.5%+8.9% —
PCG PG&E Corporation $35.1B9.5x9.7%12.9%+5.7% —
12-month window: SPY +15.9%, sector ETF XLU −8.1%. Past returns describe history only.

Recent 8-K filings

2026-09-04Other Events
2026-08-06Earnings Release; Exhibits
2026-07-02Officer/Director Change; Exhibits
2026-06-03Other Events; Exhibits
2026-05-20Shareholder Vote
2026-05-08Material Agreement; Exhibits

Context

Shares outstanding368,530,000
Free float99.8%
Institutional ownership77.7%
Beta0.26
Dividend yield3.13%
Last dividend$0.89 on 2026-08-19
50 / 200-day average$106.42 / $108.23
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 ED 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

MeasureEDIndustry medianIndustry percentileSector median
P/E (TTM) 18.7x 19.6x
45th		 20.7x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 2.3x 2.4x
48th		 2.4x
Price / book 1.6x 1.8x
39th		 1.9x
Price / tangible book 1.6x 2.0x
41st		 2.1x
Price / free cash flow 8.2x 13.7x
37th		 34.3x
Price / operating cash flow 10.5x 9.1x
86th		 9.2x
Enterprise value $68.2B $51.2B
70th		 $25.7B
EV / sales 3.9x 3.9x
50th		 4.5x
EV / EBITDA 9.6x 11.6x
36th		 11.9x
EV / EBIT 13.5x 19.5x
25th		 19.6x
EV / free cash flow 13.5x 25.9x
21st		 35.3x
Earnings yield 5.4% 5.1%
55th		 4.8%
FCF yield 12.3% -1.8%
84th		 -4.2%
Operating cash flow yield 9.6% 10.7%
16th		 10.3%
Graham number (per share) $96.81 $56.02
91st		 $48.77

Profitability (TTM)

MeasureEDIndustry medianIndustry percentileSector median
Gross margin 61.6% 43.4%
75th		 43.4%
EBITDA margin 40.2% 40.2%
50th		 38.7%
Operating margin 18.0% 22.2%
16th		 20.9%
EBIT margin 28.5% 23.8%
89th		 23.2%
Net margin 12.5% 13.5%
43rd		 12.4%
NOPAT margin 13.7% 19.3%
16th		 18.1%
FCF margin 28.7% -5.6%
91st		 -7.6%
Operating cash flow margin 22.4% 29.1%
20th		 28.3%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 15.9% 3.8%
84th		 4.2%
Stock comp / revenue 0.0% 0.0%
0th		 0.0%
Effective tax rate 23.6% 13.7%
93rd		 18.4%

Returns on capital

MeasureEDIndustry medianIndustry percentileSector median
ROE (on average equity) 9.0% 10.5%
14th		 9.5%
ROA 3.0% 2.7%
70th		 2.6%
ROIC 4.6% 5.5%
16th		 5.5%
ROCE 7.1% 5.3%
91st		 5.1%
Return on tangible assets 6.8% 4.9%
93rd		 4.7%
Cash ROIC (OCF / invested capital) 7.5% 8.6%
30th		 8.0%
Gross profitability (GP / assets) 15.4% 9.1%
89th		 8.6%
ROIC, 3-yr average 3.5% 4.4%
14th		 4.2%
ROIC, 5-yr average 4.4% 4.3%
51st		 4.2%
ROE, 5-yr average 9.0% 10.7%
28th		 9.1%
Incremental ROIC 29.8% 21.9%
73rd		 20.6%

Growth

MeasureEDIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 9.5% 8.0%
55th		 7.2%
Revenue growth (QoQ) -20.1% -16.9%
39th		 -16.9%
Revenue CAGR, 3 yr 4.5% 2.8%
73rd		 3.0%
Revenue CAGR, 5 yr 6.5% 5.6%
57th		 6.3%
Gross profit CAGR, 3 yr 7.8% 8.0%
48th		 7.9%
Operating income CAGR, 3 yr 7.6% 10.5%
41st		 9.4%
Net income growth (TTM YoY) 14.6% 8.5%
79th		 8.6%
Net income CAGR, 3 yr -3.4% 9.5%
14th		 8.8%
EPS growth (TTM YoY) 12.0% 2.3%
79th		 4.2%
EPS CAGR, 3 yr -5.4% 6.6%
16th		 6.6%
EPS CAGR, 5 yr 13.1% 4.1%
88th		 4.0%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr 8.0% 17.7%
23rd		 12.7%
Book value CAGR, 3 yr 5.1% 4.8%
55th		 4.7%
Dividend CAGR, 3 yr 0.4% 0.3%
53rd		 0.3%
Sustainable growth rate 4.1% 3.8%
57th		 3.7%

Margin history & stability

MeasureEDIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 62.7% 44.0%
95th		 42.6%
Operating margin, 3-yr average 17.6% 21.9%
18th		 20.0%
Net margin, 3-yr average 12.2% 13.0%
36th		 12.5%
FCF margin, 3-yr average 5.0% -4.3%
77th		 -7.9%
Revenue stability (0-1) 0.88 0.75
80th		 0.75
Earnings stability (0-1) 0.43 0.43
48th		 0.51
Margin stability (0-1) 0.96 0.83
95th		 0.84

Liquidity (latest quarter)

MeasureEDIndustry medianIndustry percentileSector median
Cash & short-term investments $1.5B $241.0M
77th		 $215.5M
Net cash (− = net debt) −$26.9B −$24.6B
45th		 −$12.1B
Working capital $1.4B −$794.4M
95th		 −$284.5M
Current ratio 1.27 0.80
95th		 0.82
Quick ratio 1.17 0.66
93rd		 0.69
Cash ratio (cash + ST investments / current liabilities) 0.27 0.07
89th		 0.08
Defensive interval (days) 206 days 286 days
33rd		 314 days

Leverage & solvency (latest quarter)

MeasureEDIndustry medianIndustry percentileSector median
Total debt $28.3B $25.1B
61st		 $12.5B
Debt / equity 1.10 1.68
16th		 1.61
Net debt / equity 1.04 1.67
16th		 1.60
Debt / assets 37.0% 44.6%
20th		 43.4%
Debt / capital 52.4% 62.7%
16th		 61.8%
Debt / EBITDA 3.99 5.59
16th		 5.59
Net debt / EBITDA 3.78 5.54
16th		 5.53
Interest coverage (EBIT / interest) 2.4x 2.4x
43rd		 2.4x
Cash interest coverage 1.9x 3.1x
9th		 3.0x
Debt payback (years of OCF) 7.2 yrs 7.5 yrs
40th		 7.5 yrs
Liabilities / assets 66.4% 73.0%
16th		 70.8%
IS credit model rating BBB- — —
Implied credit spread (bps) 350 750
5th		 750

Efficiency

MeasureEDIndustry medianIndustry percentileSector median
Asset turnover 0.24 0.21
73rd		 0.20
Fixed asset turnover 0.31 0.27
74th		 0.27
Inventory turnover 11.5 6.7
64th		 8.7
Receivables turnover 7.1 8.7
18th		 8.4
Days sales outstanding 51 days 41 days
84th		 43 days
Days inventory outstanding 32 days 54 days
37th		 42 days
Days payables outstanding 112 days 77 days
81st		 75 days
Cash conversion cycle (days) −29 days 15 days
9th		 14 days
Capex / revenue —
Capex / depreciation —
Operating expense ratio 46.4% 30.3%
68th		 30.7%

Cash flow & earnings quality

MeasureEDIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.78 2.19
18th		 2.20
FCF / net income 2.29 −0.32
95th		 −0.74
FCF / operating cash flow —
Capex / operating cash flow —
Accruals ratio -2.3% -3.3%
82nd		 -3.2%
Sloan accruals ratio -1.6% -3.7%
82nd		 -3.7%
Earnings quality score (0-1) 1.00 1.00
16th		 1.00

Dividends & buybacks

MeasureEDIndustry medianIndustry percentileSector median
Dividend yield 3.1% 3.3%
32nd		 3.3%
Dividend per share (TTM) $3.51 $2.56
77th		 $1.87
Payout ratio (dividends / net income) 54.8% 65.4%
30th		 63.9%
Dividends / FCF 23.9% 59.8%
11th		 65.6%
Dividend growth (YoY) 5.3% 3.9%
66th		 3.9%
Buyback yield 0.0% 0.0%
0th		 0.0%
Shareholder yield (dividends + buybacks) 2.9% 3.3%
27th		 3.3%
Share count change (YoY) 2.3% 2.2%
52nd		 2.5%
Buybacks, last 5 years $0 $0
0th		 $0

Scores & forensic checks

MeasureEDIndustry medianIndustry percentileSector median
IS score 51 42
91st		 40
IS profitability 42 50
25th		 44
IS growth 56 49
75th		 50
IS value 58 58
55th		 56
IS momentum 84 77
80th		 78
IS risk (safety) 30 15
84th		 15
IS quality 72 66
89th		 64
IS balance sheet 41 25
86th		 28
IS earnings quality 76 79
36th		 79
IS cash flow 69 35
91st		 35
Piotroski F-score (0-9) 8 6
75th		 6
Altman Z-score 1.2 0.8
84th		 0.9
Beneish M-score −2.63 −2.60
49th		 −2.64
Ohlson O-score −7.73 −7.06
9th		 −7.04
IS credit score 50 27
93rd		 29

Per share

MeasureEDIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $5.99 $3.90
86th		 $3.13
Book value per share $69.51 $34.68
93rd		 $32.52
Tangible book per share $68.64 $34.58
98th		 $32.45
Revenue per share $47.81 $27.50
89th		 $24.86
FCF per share $13.71 −$1.01
100th		 −$1.64
Operating cash flow per share $10.69 $8.38
66th		 $7.00
Cash per share $3.97 $0.80
89th		 $0.83

Size (TTM)

MeasureEDIndustry medianIndustry percentileSector median
Market cap $41.4B $21.5B
77th		 $8.5B
Revenue $17.7B $12.5B
73rd		 $5.4B
EBITDA $7.1B $4.3B
73rd		 $2.7B
Net income $2.2B $1.3B
70th		 $559.7M
Free cash flow $5.1B −$189.0M
89th		 −$190.6M
Total assets $76.5B $56.2B
66th		 $34.0B
Shareholders' equity $25.7B $12.5B
75th		 $5.1B
Employees 15,407 9,950
77th		 5,870

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Ranger Michael W
Director
 Award / grant 477$102.21$48,750103,220
2026-09-15Miller Joseph
VP & Controller
 Open-market buy 1$105.81$1115,266
2026-07-08Andrews Kirkland B
SVP & CFO
 Tax withholding 8,524$112.09$955,45533,616
2026-07-01Farhadian Weinstein Tali
Director
 Award / grant 1,277$110.95$141,6831,277
2026-06-30Ranger Michael W
Director
 Award / grant 441$110.63$48,750101,879
2026-06-15Miller Joseph
VP & Controller
 Open-market buy 1$106.87$1105,217
2026-05-19Stanley Deirdre
Director
 Award / grant 1,596$106.51$169,99030,449
2026-05-19Sanford Linda S
Director
 Award / grant 1,596$106.51$169,99029,711
2026-05-19Ranger Michael W
Director
 Award / grant 1,596$106.51$169,990100,613
2026-05-19Mulrow William J
Director
 Award / grant 1,596$106.51$169,99012,598
2026-05-19Mcbride Dwight A
Director
 Award / grant 1,596$106.51$169,99010,876
2026-05-19Mason Karol V
Director
 Award / grant 1,596$106.51$169,99011,948

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJunJulSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1318,155$1.9M
Open-market buyAcquired22$221
Tax withholdingDisposed18,524$955,455
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 3 notices · 12,110 shares · $1.3M
FiledFilerShares proposedEst. proceeds
2026-03-12Deneen L Donnley1,922$218,993
2026-02-27Mulrow William J7,912$891,744
2025-12-11Killian John F2,276$218,655
2024-05-22Killian John F1,500$146,100
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 1 trades (0 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHouseSale$15,001 - $50,0002026-10-09
2025-05-15Rob BresnahanHouseSale$1,001 - $15,0002025-06-10
2025-05-14Robert P. BresnahanHouseSale (Full)$1,001 - $15,0002025-06-10
2023-03-06Daniel GoldmanHousePurchase$15,001 - $50,0002023-04-17
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.41,665,829$4.6B11.31%
STATE STREET CORP25,094,015$2.8B6.81%
VANGUARD CAPITAL MANAGEMENT LLC24,085,197$2.7B6.54%
VANGUARD PORTFOLIO MANAGEMENT LLC19,117,849$2.1B5.19%
GEODE CAPITAL MANAGEMENT, LLC10,685,732$1.2B2.90%
DEUTSCHE BANK AG\6,771,976$749.2M1.84%
PRICE T ROWE ASSOCIATES INC /MD/5,638,183$623.8M1.53%
NORGES BANK4,671,271$516.8M1.27%
Legal & General Group Plc4,468,517$494.4M1.21%
MORGAN STANLEY4,313,485$477.2M1.17%
Invesco Ltd.3,726,451$412.3M1.01%
Allianz Asset Management GmbH3,559,014$393.7M0.97%
GOLDMAN SACHS GROUP INC3,396,206$375.7M0.92%
NORTHERN TRUST CORP3,255,298$360.1M0.88%
UBS Group AG3,233,409$357.7M0.88%

Institutional ownership by quarter

2023-092026-0677.7%
% of shares held by 13F filers
2023-092026-061,439
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,43977.7%13262339397
2026-03-311,42771.6%17957140192
2025-12-311,36770.3%17950242397
2025-09-301,31268.4%12252838395
2025-06-301,30569.1%133516377111
2025-03-311,30569.5%202439427103
2024-12-311,22967.2%183453351128
2024-09-301,20263.9%14640540278
2024-06-301,14664.2%8641140270
2024-03-311,14762.9%8841541677
2023-12-311,15262.2%15438739865
2023-09-301,07961.6%90362391106

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management7.4%27,317,494
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-10-03SCHEDULE 13G/ABlackRock, Inc.10.1%36,307,664
2025-04-24SCHEDULE 13G/ABlackRock, Inc.9.9%34,890,446
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.05%$1.2B
VSMPX0.05%$1.2B
VTSAX0.05%$1.2B
VTI0.05%$1.2B
VOO0.06%$992.6M
VFINX0.06%$992.6M

Share structure

Shares outstanding368,530,000
Float367,867,752
Free float99.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$13.7B$15.7B$14.6B$15.3B$16.9B
Cost of revenue$4.8B$6.1B$5.7B$5.5B$6.4B
Gross profit$8.9B$9.6B$9.0B$9.8B$10.5B
R&D$25.0M$27.0M$0$0$0
SG&A$3.3B$3.9B$3.6B$3.8B$0
Operating income$2.8B$2.6B$2.3B$2.7B$2.9B
EBITDA$4.4B$5.2B$6.1B$5.5B$6.2B
Pretax income$1.4B$2.1B$3.0B$2.1B$2.6B
Income tax$190.0M$498.0M$487.0M$318.0M$574.0M
Net income$1.3B$1.7B$2.5B$1.8B$2.0B
EPS, diluted$3.85$4.67$7.21$5.24$5.64
Diluted shares349.4M355.8M349.3M347.3M358.7M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$992.0M$1.3B$1.2B$1.3B$1.6B
Receivables$3.1B$3.2B$3.8B$3.9B$3.9B
Inventory$437.0M$492.0M$469.0M$485.0M$530.0M
Total current assets$5.6B$13.0B$6.5B$6.7B$6.8B
PP&E, net$49.4B$47.3B$50.1B$52.7B$55.9B
Goodwill & intangibles$1.7B$408.0M$408.0M$408.0M$406.0M
Total assets$63.1B$69.1B$66.3B$70.6B$74.6B
Accounts payable$1.5B$2.0B$1.8B$1.7B$1.9B
Total current liabilities$5.4B$11.3B$6.5B$6.4B$6.6B
Long-term debt$22.6B$20.1B$21.9B$24.7B$25.9B
Total liabilities$42.8B$48.2B$45.2B$48.6B$50.4B
Shareholders' equity$20.3B$20.9B$21.2B$22.0B$24.2B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.2B$1.6B$2.5B$1.8B$1.9B
Depreciation & amortization$2.0B$2.1B$2.0B$2.2B$2.2B
Stock-based compensation$0$0$0$0$0
Change in working capital−$662.0M−$109.0M−$1.7B−$921.0M−$407.0M
Operating cash flow$2.7B$3.9B$2.2B$3.6B$4.8B
Capital expenditure−$4.0B−$4.2B−$4.5B−$4.8B−$4.8B
Free cash flow−$1.2B−$233.0M−$2.3B−$1.2B$36.0M
Investing cash flow−$3.5B−$4.6B−$1.0B−$5.3B−$5.2B
Net debt issued / repaid$462.0M$2.1B$588.0M$2.9B$540.0M
Buybacks$0$0−$1.0B$0$0
Dividends paid−$1.0B−$1.1B−$1.1B−$1.1B−$1.2B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin62.8%60.9%58.5%64.0%62.0%
Operating margin20.5%16.8%15.8%17.9%17.3%
Net margin9.9%10.6%17.2%11.9%12.0%
FCF margin-8.9%-1.5%-16.0%-7.6%20.7%
ROE6.9%8.2%12.0%8.4%8.8%
ROIC5.4%4.6%4.3%4.8%4.4%
ROA2.1%2.5%3.7%2.7%2.8%
Debt / equity1.271.181.181.271.19
Interest coverage2.4x3.1x3.9x2.8x2.2x
Current ratio1.021.141.011.041.02
Revenue growth+11.5%+14.8%−6.6%+4.2%+10.9%
EPS growth+16.3%+22.8%+55.8%−27.9%+6.7%
P/E at year end19.6x18.4x11.7x16.5x17.8x
EV / EBITDA at year end11.6x10.4x8.8x10.3x9.0x
FCF yield at year end-4.63%-0.76%-7.94%-3.86%9.72%
Dividend payout76.5%65.6%43.5%60.4%57.7%

Revenue by segment

FY2021FY2022FY2023FY2025
Electricity$9.5B$10.5B$10.8B$12.6B
Oil and Gas, Purchased$2.6B$3.2B$3.1B$3.6B
Non-Utility Products And Services$1.0B$1.3B—$3.0M
Steam$532.0M$593.0M$569.0M$703.0M

Street estimates by fiscal year

Next report 2026-11-05 · consensus EPS $2.00 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$17.6B$17.1B – $18.1B$6.11$6.07 – $6.16818.4x
2027$18.4B$17.6B – $19.6B$6.50$6.47 – $6.561017.3x
2028$19.1B$17.4B – $21.4B$6.92$6.88 – $6.97616.2x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-06$0.76$0.83+9.8%$3.6B$4.1B+13.1%
2026-05-07$2.28$2.17−4.8%$5.2B$5.1B−2.4%
2026-02-19$0.86$0.89+4.0%$3.6B$4.0B+10.6%
2025-11-06$1.74$1.90+9.2%$4.2B$4.5B+7.4%
2025-08-07$0.64$0.67+4.5%$3.5B$3.6B+3.9%
2025-05-01$2.21$2.25+1.8%$4.3B$4.8B+12.6%
2025-02-20$0.95$0.98+2.7%$3.7B$3.7B−0.3%
2024-11-07$1.62$1.68+3.7%$4.1B$4.1B+0.7%
2024-08-01$0.57$0.59+3.5%$3.2B$3.2B+1.3%
2024-05-02$1.88$2.15+14.4%$4.4B$4.3B−2.7%
2024-02-15$0.96$1.00+4.2%$3.7B$3.4B−7.0%
2023-11-02$1.60$1.62+1.3%$3.9B$3.9B−0.5%
2023-08-03$0.61$0.610.0%$3.3B$2.9B−11.0%
2023-05-04$1.62$1.83+13.0%$4.0B$4.4B+9.7%
2023-02-16$0.78$0.81+3.8%$3.0B$4.0B+34.7%
2022-11-03$1.46$1.63+11.6%$3.7B$4.2B+12.9%
2022-08-04$0.59$0.64+8.5%$3.1B$3.4B+9.8%
2022-05-05$1.48$1.47−0.7%$3.7B$4.1B+9.0%
2022-02-17$0.85$1.00+17.6%$2.8B$3.4B+23.7%
2021-11-04$1.47$1.41−4.1%$3.5B$3.6B+3.7%
2021-08-05$0.62$0.53−14.5%$3.0B$3.0B+0.0%
2021-05-06$1.36$1.44+5.9%$3.5B$3.7B+6.3%
2021-02-18$0.72$0.75+4.2%$3.0B$3.0B−1.4%
2020-11-05$1.51$1.48−2.0%$3.4B$3.3B−1.9%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.206-150.306-220.206-290.207-060.307-130.307-200.307-270.308-030.308-100.408-170.208-240.308-31
Week ofNotionalSharesTrades
2026-08-31$291.2M2,704,79560,948
2026-08-24$238.8M2,226,25758,257
2026-08-17$363.2M3,350,09270,807
2026-08-10$270.5M2,516,75556,068
2026-08-03$305.6M2,831,10473,400
2026-07-27$333.9M2,997,69069,062

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1572.9%
DateShort shareShort volumeTotal volume
2026-10-1572.9%978,1771,341,633
2026-10-1482.8%848,8681,024,823
2026-10-1359.1%370,179626,222
2026-10-1274.6%244,749328,058
2026-10-0968.0%354,305520,734
2026-10-0857.5%358,553623,216
2026-10-0767.6%561,937831,733
2026-10-0675.9%792,0841,043,056
2026-10-0567.9%455,679671,227
2026-10-0280.5%725,551900,888
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.0Jan-1.0Feb+3.3Mar+1.6Apr-0.9May-0.6Jun+2.6Jul+0.5Aug+0.2Sep+2.1Oct+0.9Nov+0.7Dec
MonthAvg returnUp yearsYears
Jan+1.0%65%20
Feb−1.0%50%20
Mar+3.3%76%21
Apr+1.6%75%20
May−0.9%45%20
Jun−0.6%50%20
Jul+2.6%75%20
Aug+0.5%60%20
Sep+0.2%50%20
Oct+2.1%70%20
Nov+0.9%60%20
Dec+0.7%65%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1474.5
MFI81.3
ADX24.0
Stochastic %K / %D92.3 / 93.5
Williams %R-2.4
CCI210
TSI / signal17.8 / -3.4
Chaikin money flow-0.02
ATR$1.81
Bollinger width10.5%
Volume vs 20-day avg0.68x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$105.17 (+6.7%)
SMA 50$106.34 (+5.6%)
SMA 200$108.09 (+3.9%)
EMA 21$106.62 (+5.3%)
EMA 50$106.68 (+5.2%)
EMA 200$106.60 (+5.3%)
Bollinger upper$110.68 (+1.4%)
Bollinger lower$99.65 (+12.7%)
Parabolic SAR$106.31 (+5.6%)
Open the live chart, 110+ indicators

About Consolidated Edison, Inc.

Consolidated Edison, Inc., through its various subsidiaries, primarily operates in the regulated sectors of electricity, natural gas, and steam distribution across the United States. The company supplies electric power to approximately 3.5 million households and businesses in New York City and Westchester County. It also delivers natural gas to about 1.1 million customers located in Manhattan, the Bronx, specific parts of Queens, and Westchester County, while providing steam services to around 1,555 clients in certain Manhattan areas. Beyond these core regions, Consolidated Edison extends its electricity provision to roughly 300,000 customers in southeastern New York and northern New Jersey, and serves approximately 100,000 natural gas consumers in southeastern New York. Its extensive operational framework encompasses 533 circuit miles of transmission lines and 15 transmission substations. For distribution, it manages 64 substations, 87,564 in-service line transformers, 3,924 pole miles of overhead lines, and 2,291 miles of underground cabling. The natural gas network further includes 4,350 miles of main pipelines and 377,971 service connections. The company also engages in owning, operating, and developing projects for renewable energy and broader energy infrastructure. Furthermore, it offers a range of energy-related products and services to both wholesale and retail markets, and strategically invests in new electric and gas transmission ventures. Its electricity sales are predominantly directed toward industrial, commercial, residential, and governmental clients. Established in 1823, Consolidated Edison's corporate headquarters are situated in New York, New York.

https://www.conedison.com

Key executives

NameTitlePayBorn
Timothy CawleyChairman, President & Chief Executive Officer$4.4M1965
Kamran ZiaeeSVP & Chief Information Officer$2.6M1966
Kirkland AndrewsSenior Vice President & Chief Financial Officer$2.0M1968
Matthew KetschkePresident of Consolidated Edison Company of New York, Inc.$1.9M1972
Deneen Lynette DonnleySenior Vice President & General Counsel$1.8M1965
Robert SanchezPresident of Shared Services of Con Edison of New York$1.3M1966
Michele L. O'ConnellPresident and Chief Executive Officer of Orange and Rockland Utilities, Inc.—1976
Stuart NachmiasPresident & Chief Executive Officer of Con Edison Transmission, Inc.—1965

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Timothy P. Cawley President and Chief Executive Officer of the Company and Chief Executive Officer, Con Edison of New York2025$1.4M$9.8M$2.8M$14.1M
Matthew Ketschke President, Con Edison of New York2025$850,400$2.8M$981,700$4.6M
Kirkland Andrews Senior Vice President and Chief Financial Officer of the Company and Con Edison of New York2025$836,033$1.9M$962,500$3.9M
Kamran Ziaee Senior Vice President and Chief Information Officer, Con Edison of New York2025$534,625$1.2M$576,300$3.8M
Deneen L. Donnley Senior Vice President and General Counsel of the Company and Con Edison of New York2025$717,975$1.6M$826,600$3.3M

Employees

14k201813k201914k202014k202114k202215k202315k202415k2025

Dividends

Ex-dateAmountPaid
2026-08-19$0.88752026-09-15
2026-05-13$0.88752026-06-15
2026-02-18$0.88752026-03-16
2025-11-19$0.852025-12-15
2025-08-13$0.852025-09-15
2025-05-14$0.852025-06-16
2025-02-19$0.852025-03-14
2024-11-13$0.832024-12-16

Moat model

Weak · Intangible Assets · 2026-06-30
Cost advantage42
Intangibles57
Switching costs50
Network effect32
Efficient scale42
Our component scores (0-100) and overall 46.3; 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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