— Know what they know.
/
Not Investment Advice

NRG

NYSE · USD
NRG Energy, Inc.
Utilities · Independent Power Producers
CEO Robert J. Gaudette Employees 16,702 R&D / revenue 0.0%
Last price
$103.75+0.87%last session
Market cap
$21.8B
P/E (TTM)
27.3x
From 52w high
−45.4%
From 52w low
+11.1%
1-year return
−38.2%
RSI 14 · vs SMA200
48.0 · −24.6%
IS score
38.4/ 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

NRG   SPY   XLU (sector ETF) · weekly closes
6080100120Jan 26Apr 26Jul 26Oct 26SPY 116XLU 92NRG 62

Score DNA

Each bar is a 0-100 score within the scored universe
43
Profitability
68
Growth
40
Value
93
Momentum
30
Risk (safety)
51
Quality
19
Balance sheet
85
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
▲ Altman distress zone▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 6 / 9Altman Z 1.6Beta 1.173 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
3 open-market sales, $4.3M
Form 144 notices (12m): 13, $52.0M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−40
123 new holders, 153 closed
1,030 filers hold 94.3% · 388 added, 394 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+171
848 funds adding shares
677 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
32.3%
20-day avg 35.2%, 50-day avg 32.1%
Latest 2.9 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$30.7B
Revenue growth YoY+9.2%
Gross margin21.8%
Operating income$1.9B
Operating margin6.0%
Net income$864.0M
Net margin2.8%
EPS (diluted)$4.01
Cash flow
Operating cash flow$1.9B
Capital expenditure$1.1B
Free cash flow$766.0M
FCF conversion (FCF / OCF)40.0%
Stock-based compensation$134.0M
FCF less SBC$632.0M
Buybacks$1.4B
Dividends$411.0M
Balance sheet & returns
Cash & short-term investments$6.9B
Total debt$16.6B
Net debt$9.7B
Shareholders' equity$1.7B
Goodwill & intangibles$7.3B
Debt / equity4.83
ROE (TTM)25.4%
ROIC (TTM)5.2%
Operating margin by fiscal year
12.4%FY20216.4%FY20221.3%FY20238.6%FY20246.0%FY2025
Revenue $27.0B (FY2021) to $30.7B (FY2025), a 3.3% CAGR.

Valuation

P/E (TTM)27.3x
EV / EBITDA14.3x
Price / sales0.66x
Price / FCF62.7x
FCF yield1.60%
Buyback yield6.43%
SBC / revenue0.4%
Price / book4.51x
Forward P/E FY202611.7x
Forward P/E FY20279.4x
Forward P/E FY20288.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $210.43 across 7 analysts last quarter is theirs, not ours.

NRG vs industry median

33 companies in Independent Power Producers
Gross margin 19.4% 22.6% Operating margin 5.7% 12.4% Net margin 2.6% 7.1% ROIC 5.2% 3.0%
NRG (TTM)Industry median Asset turnover 0.83 vs industry 0.25 · financial leverage 8.23

Earnings delivery

Next report 2026-11-05 · consensus EPS $3.17
50%
beat rate, 6 of 12 quarters
+1.3%
median EPS surprise
2
longest beat streak
-65+21+21-5-5+46+50-3+29+6-16-12
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-08-04. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
NRG NRG Energy, Inc. $21.8B27.3x25.4%2.6%+9.2% −38.2%
TLN Talen Energy Corporation $16.8Bn/m-12.9%-12.3%+65.8% −15.1%
VST Vistra Corp. $51.0B25.3x43.1%7.6%−28.4% −27.8%
OKLO Oklo Inc. $5.2Bn/m-7.7%—— −82.7%
CEG Constellation Energy Corpora $96.1B26.3x15.3%6.8%+26.0% −31.5%
KEN Kenon Holdings Ltd. $3.3B28.2x8.2%11.6%+53.4% —
CMS CMS Energy Corporation $21.5B20.3x11.3%6.6%+9.9% —
EIX Edison International $21.5B5.7x22.4%12.3%+10.7% —
12-month window: SPY +15.9%, sector ETF XLU −8.1%. Past returns describe history only.

Recent 8-K filings

2026-08-04Earnings Release; Exhibits
2026-07-15Other Events
2026-05-21Officer/Director Change; Regulation FD; Exhibits
2026-05-06Earnings Release; Exhibits
2026-05-01Shareholder Vote
2026-04-30Officer/Director Change; Exhibits

Context

Shares outstanding210,210,483
Free float99.5%
Institutional ownership94.3%
Beta1.17
Dividend yield1.80%
Last dividend$0.47 on 2026-08-03
50 / 200-day average$109.55 / $138.47
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 NRG sits among 7 scored companies in Independent Power Producers (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

MeasureNRGIndustry medianIndustry percentileSector median
P/E (TTM) 25.7x — 20.7x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 0.7x 2.9x
0th		 2.4x
Price / book 4.5x 3.0x
67th		 1.9x
Price / tangible book —
Price / free cash flow 62.7x — 34.3x
Price / operating cash flow 14.0x 16.9x
40th		 9.2x
Enterprise value $45.1B $26.1B
67th		 $25.7B
EV / sales 1.4x 3.9x
20th		 4.5x
EV / EBITDA 12.2x 13.4x
40th		 11.9x
EV / EBIT 30.4x 26.5x
80th		 19.6x
EV / free cash flow 129.6x — 35.3x
Earnings yield 3.9% 3.6%
83rd		 4.8%
FCF yield 1.6% 0.3%
67th		 -4.2%
Operating cash flow yield 7.1% 5.1%
67th		 10.3%
Graham number (per share) $45.43 — $48.77

Profitability (TTM)

MeasureNRGIndustry medianIndustry percentileSector median
Gross margin 19.4% 22.2%
33rd		 43.4%
EBITDA margin 11.2% 23.0%
0th		 38.7%
Operating margin 5.7% 7.0%
40th		 20.9%
EBIT margin 4.5% 13.8%
20th		 23.2%
Net margin 2.6% 6.3%
40th		 12.4%
NOPAT margin 4.9% 5.7%
40th		 18.1%
FCF margin 1.0% 1.0%
60th		 -7.6%
Operating cash flow margin 4.7% 16.7%
0th		 28.3%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 14.2% 10.6%
75th		 4.2%
Stock comp / revenue 0.4% 1.0%
25th		 0.0%
Effective tax rate 14.4% 21.0%
0th		 18.4%

Returns on capital

MeasureNRGIndustry medianIndustry percentileSector median
ROE (on average equity) 23.8% 8.2%
83rd		 9.5%
ROA 2.7% 2.1%
67th		 2.6%
ROIC 5.8% 3.0%
100th		 5.5%
ROCE 4.9% 4.9%
50th		 5.1%
Return on tangible assets 4.6% 4.3%
67th		 4.7%
Cash ROIC (OCF / invested capital) 5.5% 7.6%
17th		 8.0%
Gross profitability (GP / assets) 16.1% 5.9%
83rd		 8.6%
ROIC, 3-yr average 7.8% 5.4%
80th		 4.2%
ROIC, 5-yr average 6.7% 5.8%
75th		 4.2%
ROE, 5-yr average 20.2% 12.6%
75th		 9.1%
Incremental ROIC 7.9% 1.2%
83rd		 20.6%

Growth

MeasureNRGIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 12.9% 19.5%
40th		 7.2%
Revenue growth (QoQ) -27.4% -20.5%
40th		 -16.9%
Revenue CAGR, 3 yr 2.9% 4.4%
40th		 3.0%
Revenue CAGR, 5 yr 12.8% — 6.3%
Gross profit CAGR, 3 yr 360.3% — 7.9%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) 62.6% — 8.6%
Net income CAGR, 3 yr —
EPS growth (TTM YoY) 50.4% — 4.2%
EPS CAGR, 3 yr —
EPS CAGR, 5 yr -1.8% — 4.0%
FCF growth (TTM YoY) -75.0% — -60.5%
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr —
Book value CAGR, 3 yr 16.8% 4.3%
80th		 4.7%
Dividend CAGR, 3 yr 5.6% — 0.3%
Sustainable growth rate 11.5% — 3.7%

Margin history & stability

MeasureNRGIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 19.2% 27.8%
20th		 42.6%
Operating margin, 3-yr average 7.7% 7.5%
60th		 20.0%
Net margin, 3-yr average 3.8% 10.4%
20th		 12.5%
FCF margin, 3-yr average 3.9% 0.5%
60th		 -7.9%
Revenue stability (0-1) 0.77 0.75
67th		 0.75
Earnings stability (0-1) 0.03 0.64
0th		 0.51
Margin stability (0-1) 0.42 0.15
80th		 0.84

Liquidity (latest quarter)

MeasureNRGIndustry medianIndustry percentileSector median
Cash & short-term investments $162.0M $435.0M
17th		 $215.5M
Net cash (− = net debt) −$23.3B −$9.3B
17th		 −$12.1B
Working capital −$322.0M −$58.7M
0th		 −$284.5M
Current ratio 0.97 0.97
33rd		 0.82
Quick ratio 0.89 0.97
33rd		 0.69
Cash ratio (cash + ST investments / current liabilities) 0.02 0.14
0th		 0.08
Defensive interval (days) 298 days 381 days
40th		 314 days

Leverage & solvency (latest quarter)

MeasureNRGIndustry medianIndustry percentileSector median
Total debt $23.5B $9.6B
83rd		 $12.5B
Debt / equity 4.83 2.02
83rd		 1.61
Net debt / equity 4.80 0.88
83rd		 1.60
Debt / assets 58.8% 43.5%
83rd		 43.4%
Debt / capital 82.9% 66.9%
83rd		 61.8%
Debt / EBITDA 6.34 4.67
60th		 5.59
Net debt / EBITDA 6.30 3.77
80th		 5.53
Interest coverage (EBIT / interest) 3.0x 2.7x
60th		 2.4x
Cash interest coverage 3.2x 2.9x
60th		 3.0x
Debt payback (years of OCF) 15.1 yrs 9.1 yrs
100th		 7.5 yrs
Liabilities / assets 87.8% 67.1%
83rd		 70.8%
IS credit model rating BB- — —
Implied credit spread (bps) 550 400
83rd		 750

Efficiency

MeasureNRGIndustry medianIndustry percentileSector median
Asset turnover 1.04 0.40
100th		 0.20
Fixed asset turnover 2.33 0.76
100th		 0.27
Inventory turnover 43.0 7.5
100th		 8.7
Receivables turnover 9.5 8.2
67th		 8.4
Days sales outstanding 38 days 44 days
33rd		 43 days
Days inventory outstanding 8 days 49 days
0th		 42 days
Days payables outstanding 35 days 53 days
17th		 75 days
Cash conversion cycle (days) 12 days 18 days
33rd		 14 days
Capex / revenue 3.6% 14.9%
0th		 35.1%
Capex / depreciation 0.54 1.34
0th		 2.40
Operating expense ratio 13.8% 15.9%
40th		 30.7%

Cash flow & earnings quality

MeasureNRGIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.83 — 2.20
FCF / net income 0.41 — −0.74
FCF / operating cash flow 22.4% 14.9%
60th		 -33.3%
Capex / operating cash flow 77.6% 85.1%
40th		 133.3%
Accruals ratio -2.2% -2.2%
50th		 -3.2%
Sloan accruals ratio -6.1% -5.3%
33rd		 -3.7%
Earnings quality score (0-1) 1.00 — 1.00

Dividends & buybacks

MeasureNRGIndustry medianIndustry percentileSector median
Dividend yield 1.8% 0.6%
83rd		 3.3%
Dividend per share (TTM) $1.86 $0.91
83rd		 $1.87
Payout ratio (dividends / net income) 51.7% — 63.9%
Dividends / FCF 126.1% — 65.6%
Dividend growth (YoY) -0.5% — 3.9%
Buyback yield 2.8% 0.2%
100th		 0.0%
Shareholder yield (dividends + buybacks) 4.8% 1.8%
83rd		 3.3%
Share count change (YoY) 8.2% 8.2%
50th		 2.5%
Buybacks, last 5 years $3.1B $48.0M
100th		 $0

Scores & forensic checks

MeasureNRGIndustry medianIndustry percentileSector median
IS score 38 35
67th		 40
IS profitability 43 32
83rd		 44
IS growth 68 60
60th		 50
IS value 40 40
50th		 56
IS momentum 93 70
80th		 78
IS risk (safety) 30 30
17th		 15
IS quality 51 51
50th		 64
IS balance sheet 19 45
17th		 28
IS earnings quality 85 71
100th		 79
IS cash flow 29 30
33rd		 35
Piotroski F-score (0-9) 6 5
83rd		 6
Altman Z-score 1.6 1.6
50th		 0.9
Beneish M-score −2.64 −2.37
40th		 −2.64
Ohlson O-score −6.12 −6.30
67th		 −7.04
IS credit score 36 47
17th		 29

Per share

MeasureNRGIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $4.00 $2.31
67th		 $3.13
Book value per share $22.90 $22.90
50th		 $32.52
Tangible book per share −$28.91 $18.08
0th		 $32.45
Revenue per share $156.46 $47.11
100th		 $24.86
FCF per share $1.64 $0.87
67th		 −$1.64
Operating cash flow per share $7.33 $7.33
50th		 $7.00
Cash per share $0.76 $3.04
17th		 $0.83

Size (TTM)

MeasureNRGIndustry medianIndustry percentileSector median
Market cap $21.8B $16.8B
67th		 $8.5B
Revenue $33.2B $3.5B
100th		 $5.4B
EBITDA $3.7B $742.0M
67th		 $2.7B
Net income $849.0M $120.3M
67th		 $559.7M
Free cash flow $348.0M $309.0M
67th		 −$190.6M
Total assets $39.9B $15.1B
67th		 $34.0B
Shareholders' equity $4.9B $3.3B
67th		 $5.1B
Employees 16,702 1,880
100th		 5,870

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-08Spencer Gerald Alfred
SVP & Chief Accounting Officer
 Open-market sale 1,580$120.93$191,0696,213
2026-08-13Hart Scott Barton
EVP, President of NRG Business
 — 4,141——0
2026-08-13Golin Caroline
EVP, Chf Growth & Policy Offc
 — 1,433——0
2026-08-13Pistner Matthew
EVP, Pres. of NRG Wholesale
 — 3,952——0
2026-08-04Bentley Brad
Exec VP, Pres NRG Consumer
 Tax withholding 1,570——31,192
2026-08-04Bentley Brad
Exec VP, Pres NRG Consumer
 Tax withholding 3,401——27,791
2026-08-03Kapoor Sanjay
Director
 Award / grant 13——3,934
2026-08-03Pruner Alexandra
Director
 Award / grant 112——32,792
2026-08-03Zlotnik Marcie
Director
 Award / grant 29——8,721
2026-08-03Donohue Elisabeth B
Director
 Award / grant 81——29,131
2026-08-03Cox Heather
Director
 Award / grant 68——43,679
2026-08-03Carrillo Antonio
Director
 Award / grant 65——45,392

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired4265,360—
Open-market saleDisposed332,725$4.3M
Option exerciseAcquired643,110$312,276
Option exerciseDisposed238,276—
Tax withholdingDisposed625,749$2.7M
—Disposed89,526—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 13 notices · 318,036 shares · $52.0M
FiledFilerShares proposedEst. proceeds
2026-09-08Gerald Spencer1,580$188,052
2026-08-04Kinney Virginia20,000$3.9M
2026-08-04Kinney Virginia11,145$1.5M
2026-07-15Kinney Virginia11,145$1.5M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 1 trades (1 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2025-05-20John BoozmanSenateSale$1,001 - $15,0002025-06-14
2025-05-20John BoozmanSenateSale (Partial)$1,001 - $15,0002025-06-14
2025-05-20John BoozmanSenateSale (Partial)$1,001 - $15,0002025-06-13
2025-01-28John BoozmanSenatePurchase$1,001 - $15,0002025-02-08
2022-05-18Kurt SchraderHouseSale (Full)$15,001 - $50,0002022-06-02
2021-06-16Kurt SchraderHousePurchase$1,001 - $15,0002021-07-07
2021-06-10Kurt SchraderHousePurchase$1,001 - $15,0002021-07-07
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.17,658,104$2.6B8.40%
FMR LLC16,880,449$2.5B8.03%
VANGUARD CAPITAL MANAGEMENT LLC13,783,144$2.0B6.56%
FRANKLIN RESOURCES INC13,049,226$1.9B6.21%
STATE STREET CORP11,234,607$1.6B5.34%
VANGUARD PORTFOLIO MANAGEMENT LLC10,898,737$1.6B5.18%
VICTORY CAPITAL MANAGEMENT INC9,524,776$1.4B4.53%
GEODE CAPITAL MANAGEMENT, LLC5,976,441$869.7M2.84%
Invesco Ltd.5,275,085$770.5M2.51%
Bank of New York Mellon Corp3,185,171$465.2M1.52%
LYRICAL ASSET MANAGEMENT LP2,689,623$392.8M1.28%
BANK OF AMERICA CORP /DE/2,442,631$356.8M1.16%
T. Rowe Price Investment Management, Inc.2,401,856$350.8M1.14%
DIMENSIONAL FUND ADVISORS LP2,268,957$331.5M1.08%
MORGAN STANLEY1,998,595$291.9M0.95%

Institutional ownership by quarter

2023-092026-0694.3%
% of shares held by 13F filers
2023-092026-061,030
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,03094.3%123388394153
2026-03-311,07093.1%155470307144
2025-12-311,07785.2%162407378111
2025-09-301,05284.1%14838238996
2025-06-301,01987.5%24629037672
2025-03-3185790.0%14433526997
2024-12-3182492.4%14432125384
2024-09-3078194.6%12929226390
2024-06-3074795.8%16423026156
2024-03-3165098.8%11420822861
2023-12-31605102.5%11016522951
2023-09-30555110.0%7317620167

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-28SCHEDULE 13GRupert H. Johnson, Jr.0.0%0
2026-04-30SCHEDULE 13GVanguard Capital Management7.4%15,849,100
2026-04-29SCHEDULE 13GVanguard Portfolio Management5.3%11,371,848
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.03%$638.8M
VSMPX0.03%$638.8M
VTSAX0.03%$638.8M
VTI0.03%$638.8M
VFFSX0.03%$528.1M
VFINX0.03%$528.1M

Share structure

Shares outstanding210,210,483
Float209,258,230
Free float99.5%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$27.0B$31.5B$28.8B$28.1B$30.7B
Cost of revenue$20.5B$27.4B$26.5B$22.1B$24.0B
Gross profit$6.5B$4.1B$2.3B$6.0B$6.7B
R&D$0$0$0$0$0
SG&A$1.3B$1.1B$1.8B$2.3B$4.8B
Operating income$3.3B$2.0B$384.0M$2.4B$1.9B
EBITDA$4.2B$2.8B$1.7B$3.5B$3.8B
Pretax income$2.9B$1.7B−$213.0M$1.4B$1.1B
Income tax$672.0M$442.0M−$11.0M$323.0M$214.0M
Net income$2.2B$1.2B−$202.0M$1.1B$864.0M
EPS, diluted$8.93$5.17$-1.12$4.99$4.01
Diluted shares245.0M236.0M228.0M212.0M199.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$250.0M$430.0M$541.0M$966.0M$6.9B
Receivables$3.9B$4.8B$3.5B$3.5B$4.1B
Inventory$498.0M$751.0M$607.0M$478.0M$461.0M
Total current assets$10.8B$16.2B$9.7B$9.0B$13.1B
PP&E, net$2.0B$1.9B$1.9B$2.2B$3.8B
Goodwill & intangibles$4.3B$3.8B$9.0B$7.9B$7.3B
Total assets$23.2B$29.1B$26.0B$24.0B$29.1B
Accounts payable$2.3B$3.6B$2.3B$2.5B$2.8B
Total current liabilities$7.9B$13.0B$9.5B$8.8B$8.0B
Long-term debt$8.0B$8.0B$10.1B$9.8B$16.5B
Total liabilities$19.6B$25.3B$23.1B$21.5B$27.5B
Shareholders' equity$3.6B$3.8B$2.9B$2.5B$1.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$2.2B$1.2B−$202.0M$1.1B$864.0M
Depreciation & amortization$836.0M$688.0M$1.2B$1.1B$1.4B
Stock-based compensation$21.0M$28.0M$101.0M$102.0M$134.0M
Change in working capital−$3.1B−$2.7B−$383.0M−$1.0B−$1.6B
Operating cash flow$493.0M$360.0M−$221.0M$2.3B$1.9B
Capital expenditure−$269.0M−$367.0M−$598.0M−$472.0M−$1.1B
Free cash flow$224.0M−$7.0M−$819.0M$1.8B$766.0M
Investing cash flow−$3.0B−$332.0M−$910.0M−$24.0M−$1.6B
Net debt issued / repaid−$779.0M−$5.0M$176.0M−$100.0M$5.6B
Buybacks−$48.0M−$606.0M−$1.2B−$935.0M−$1.4B
Dividends paid−$319.0M−$332.0M−$381.0M−$405.0M−$411.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin24.1%13.0%8.0%21.4%21.8%
Operating margin12.4%6.4%1.3%8.6%6.0%
Net margin8.1%3.9%-0.7%4.0%2.8%
FCF margin0.8%-0.0%-2.8%6.5%2.5%
ROE82.8%32.9%-6.0%41.8%41.5%
ROIC22.0%12.7%2.3%15.1%12.9%
ROA11.5%4.7%-0.7%4.5%3.3%
Debt / equity2.302.173.784.449.97
Interest coverage6.9x5.0x0.7x3.2x2.4x
Current ratio1.371.251.021.021.64
Revenue growth+196.8%+16.9%−8.6%−2.4%+9.2%
EPS growth+327.1%−40.4%−117.1%+690.2%−15.5%
P/E at year end4.3x5.5xn/m16.6x35.1x
EV / EBITDA at year end4.0x5.3x12.3x8.2x10.5x
FCF yield at year end2.38%-0.10%-7.40%9.84%2.53%
Dividend payout14.6%27.2%—36.0%47.6%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
East Segment$13.0B$16.8B$12.5B$11.7B$14.3B
Texas Segment$10.3B$10.1B$10.5B$10.7B$11.1B
West, Services and Other Segment$3.7B$4.8B$4.3B$3.9B$3.2B
Vivint Smart Home Segment——$1.5B$1.9B$2.1B

Revenue by region · FY2025

East Segment$14.3B · 50%
Texas Segment$11.1B · 39%
West$3.2B · 11%

Street estimates by fiscal year

Next report 2026-11-05 · consensus EPS $3.17 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$35.1B$35.0B – $35.2B$8.89$8.25 – $9.26611.7x
2027$35.3B$21.1B – $42.5B$11.07$10.54 – $11.6479.4x
2028$36.6B$33.4B – $41.7B$12.81$10.18 – $15.2468.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-04$1.69$1.49−11.8%$7.3B$7.5B+2.3%
2026-05-06$1.77$1.48−16.4%$8.4B$10.3B+22.1%
2026-02-24$0.97$1.03+6.0%$6.7B$7.8B+16.3%
2025-11-06$2.14$2.75+28.5%$7.5B$7.6B+2.3%
2025-08-06$1.74$1.68−3.4%$6.5B$6.7B+4.5%
2025-05-12$1.75$2.62+49.7%$7.9B$8.6B+8.4%
2025-02-26$1.04$1.52+46.2%$7.8B$6.8B−12.7%
2024-11-08$1.95$1.85−5.1%$9.4B$7.2B−23.0%
2024-08-08$1.55$1.48−4.5%$8.3B$6.6B−20.1%
2024-05-07$0.66$0.80+20.7%$7.6B$7.5B−2.0%
2024-02-28$0.94$1.14+21.3%$6.4B$6.7B+5.1%
2023-11-02$4.04$1.41−65.1%$11.0B$7.9B−27.4%
2023-08-08$2.47$1.25−49.4%$7.7B$6.3B−17.8%
2023-05-04$0.90$0.86−4.4%$3.6B$7.7B+117.2%
2023-02-16$1.43$1.64+14.7%$3.1B$7.9B+154.1%
2022-11-07$1.43$0.29−79.7%$7.9B$8.5B+7.8%
2022-08-04$0.31$0.33+6.5%$6.7B$7.3B+9.0%
2022-05-06$0.55$0.25−54.5%$4.5B$7.9B+76.1%
2022-02-24$-1.34$-0.97+27.6%$3.5B$7.0B+102.0%
2021-11-04$2.25$6.60+193.3%$4.4B$6.6B+49.9%
2021-08-05$2.41$1.20−50.2%$5.2B$5.2B0.0%
2021-05-06$1.64$0.84−48.8%$2.4B$8.1B+238.7%
2021-03-01$0.37$-0.53−243.2%—$2.0B—
2020-11-05$1.64$1.02−37.8%$4.5B$2.8B−37.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.306-150.506-220.406-290.307-060.407-130.407-200.407-271.008-030.308-100.408-170.408-240.408-31
Week ofNotionalSharesTrades
2026-08-31$415.4M3,702,70368,248
2026-08-24$382.3M3,371,46665,247
2026-08-17$376.7M3,202,24867,662
2026-08-10$255.3M2,105,40657,214
2026-08-03$1.0B8,667,410126,022
2026-07-27$439.4M3,355,14973,705

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1532.3%
DateShort shareShort volumeTotal volume
2026-10-1532.3%352,1991,090,466
2026-10-1437.9%340,523897,469
2026-10-1332.9%388,8791,182,538
2026-10-1226.1%396,4181,516,658
2026-10-0954.2%444,552819,697
2026-10-0851.3%870,9801,698,226
2026-10-0748.3%907,3551,877,451
2026-10-0648.6%990,8402,037,754
2026-10-0528.3%343,9651,214,105
2026-10-0233.1%408,8731,237,105
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.7Jan-1.0Feb+2.0Mar+6.0Apr+4.4May+0.8Jun+1.8Jul+0.5Aug-2.4Sep+0.6Oct+1.6Nov+0.5Dec
MonthAvg returnUp yearsYears
Jan+1.7%50%20
Feb−1.0%50%20
Mar+2.0%57%21
Apr+6.0%80%20
May+4.4%55%20
Jun+0.8%55%20
Jul+1.8%60%20
Aug+0.5%55%20
Sep−2.4%50%20
Oct+0.6%50%20
Nov+1.6%50%20
Dec+0.5%50%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1448.0
MFI56.4
ADX21.9
Stochastic %K / %D53.6 / 60.4
Williams %R-39.0
CCI39
TSI / signal-8.0 / -15.5
Chaikin money flow-0.02
ATR$4.65
Bollinger width16.7%
Volume vs 20-day avg0.81x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$101.56 (+2.2%)
SMA 50$109.24 (−5.0%)
SMA 200$137.56 (−24.6%)
EMA 21$104.11 (−0.3%)
EMA 50$109.94 (−5.6%)
EMA 200$129.70 (−20.0%)
Bollinger upper$110.03 (−5.7%)
Bollinger lower$93.09 (+11.5%)
Parabolic SAR$97.53 (+6.4%)
Open the live chart, 110+ indicators

About NRG Energy, Inc.

NRG Energy, Inc., together with its affiliated entities, operates as a comprehensive power utility spanning the United States. Its operations are divided into three main geographical divisions: Texas, East, and West. The company plays a crucial role in generating, distributing, and selling electricity and various related services, serving approximately six million customers across residential, commercial, industrial, and wholesale sectors. Their energy generation capabilities are diverse, drawing from natural gas, coal, oil, solar, nuclear, and battery storage technologies. Beyond core power provision, NRG offers an extensive array of solutions, including centralized system power, decentralized generation, renewable energy products, emergency backup power, distributed solar and storage installations, demand-side management, energy efficiency programs, expert advisory services, carbon management initiatives, and bespoke on-site energy solutions. Furthermore, NRG actively engages in the trading of electric power, natural gas, and associated commodities, alongside environmental credits, weather-related products, and various financial instruments such as forwards, futures, options, and swaps. The company also manages fuel procurement and transportation services. It directly markets energy, services, and products to retail consumers through several established brands, including NRG, Reliant, Direct Energy, Green Mountain Energy, Stream, and XOOM Energy. As of December 31, 2021, NRG Energy's generation assets encompassed approximately 18,000 megawatts of capacity across 25 owned and leased facilities. The corporation was founded in 1989 and maintains its corporate headquarters in Houston, Texas.

https://www.nrg.com

Key executives

NameTitlePayBorn
Lawrence Stephen CobenAdvisor$5.0M1959
Brad BentleyExecutive Vice President & President of NRG Consumer$3.4M1976
Bruce ChungEVP & CFO$2.2M1974
Robert J. GaudettePres, Chief Executive Officer & Director$2.1M1973
Brian E. CurciExecutive Vice President of Legal & General Counsel$1.8M1978
Christopher S. MoserExecutive Vice President and Head of Competitive Markets & Policy$682,0571971
Dak LiyanearachchiExecutive Vice President & Chief Technology Officer—1969
Gerald Alfred SpencerSenior Vice President & Chief Accounting Officer—1982

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Lawrence S. Coben President, Chief Executive Officer and Chair of the Board2025$1.5M$16.8M$3.5M$21.8M
Bruce Chung Executive Vice President and Chief Financial Officer2025$736,712$12.4M$1.4M$14.5M
Robert J. Gaudette Executive Vice President, President of NRG Business & Wholesale Operations2025$728,179$10.7M$1.4M$12.9M
Brad Bentley Executive Vice President, President of NRG Consumer2025$302,886$8.7M$611,657$12.1M
Brian Curci Executive Vice President and General Counsel2025$609,693$9.3M$1.1M$11.1M

Employees

5k20185k20194k20207k20217k202218k202316k202417k2025

Dividends

Ex-dateAmountPaid
2026-08-03$0.4752026-08-17
2026-05-01$0.4752026-05-15
2026-02-02$0.4752026-02-17
2025-11-03$0.442025-11-17
2025-08-01$0.442025-08-15
2025-05-01$0.442025-05-15
2025-02-03$0.442025-02-18
2024-11-01$0.40752024-11-15

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage63
Intangibles33
Switching costs48
Network effect40
Efficient scale80
Our component scores (0-100) and overall 50.9; 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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