A Business at a Glance
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CONSOLIDATED EDISON INC
ED
$40.5B
Mkt Cap
$113.01
+0.20%
CONSOLIDATED EDISON INC (ED) has a current P/E ratio of 20.0, compared to its historical median P/E of 16.9. The stock is currently considered Expensive based on its historical valuation range.
CONSOLIDATED EDISON INC (ED) has a 5-year average return on invested capital (ROIC) of 5.2%. This is below average and may indicate limited pricing power.
CONSOLIDATED EDISON INC (ED) has a market capitalization of $41.6B. It is classified as a large-cap stock.
Yes, CONSOLIDATED EDISON INC (ED) pays a dividend with a trailing twelve-month yield of 2.87%.
Based on historical P/E analysis, CONSOLIDATED EDISON INC (ED) appears expensive. The current P/E of 20.0 is 18% above its historical median of 16.9. The estimated fair value CAGR (P/E method) is 8.3%.
CONSOLIDATED EDISON INC (ED) operates in the Electric & Other Services Combined industry, within the Utilities sector.
CONSOLIDATED EDISON INC (ED) reported annual revenue of $16.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Consolidated Edison is a regulated utility holding company that owns Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities (O&R), and Con Edison Transmission. CECONY operates the largest steam distribution system in the United States and provides electric service to approximately 3.7 million customers across New York City and Westchester County, gas delivery to approximately 1.1 million customers, and steam service to approximately 1,490 customers. O&R provides electric service to approximately 0.3 million customers in southeastern New York and northern New Jersey, and gas delivery to over 0.1 million customers. Con Edison Transmission develops and invests in electric transmission projects and owns electric and gas assets through joint ventures. The company's business model is based on regulated rate-of-return utility operations, where earnings depend on state-approved rate plans that allow recovery of capital costs and operating expenses; rates are set by the New York State Public Service Commission (NYSPSC) and the New Jersey Board of Public Utilities (NJBPU) following formal rate proceedings. The utilities operate in a restructured market where customers can purchase electricity and gas from alternative suppliers, with CECONY delivering 56 percent of electricity and 33 percent of gas from the utility itself in 2025, while O&R delivered 39 percent of electricity and 20 percent of gas. The company seeks to provide shareholder value through continued dividend growth supported by earnings growth in regulated utilities and transmission projects, while investing in reliable, resilient, safe and clean energy infrastructure for its New York and New Jersey customers.
【Regulated utility growth】 Management emphasizes continued investment in reliable, resilient, safe and clean energy infrastructure critical for its service territories. The company pursues shareholder value through dividend growth supported by earnings expansion in regulated utilities and electric transmission projects. The regulatory framework provides stable, predictable returns through approved rate plans, though the company faces ongoing generic proceedings on clean energy implementation, energy affordability, and renewable energy programs. Federal tariff actions and supply chain developments present potential cost pressures that the company continues to monitor closely.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 17.2B | 16.9B | 15.3B | 14.7B | 15.7B | 13.7B |
| Net Income | 2.2B | 2.0B | 1.8B | 2.5B | 1.7B | 1.3B |
| EPS | $5.95 | $5.64 | $5.24 | $7.21 | $4.66 | $3.85 |
| Free Cash Flow | -644M | 36M | -1.2B | -2.2B | -530M | -1.2B |
| ROIC | 5.1% | 4.7% | 4.9% | 6.1% | 4.7% | 5.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.76 | 1.10 | 1.25 | 1.19 | 1.18 | 1.19 |
| Dividends/Share | $3.24 | $3.25 | $3.32 | $3.24 | $3.16 | $3.10 |
| Operating Income | 3.0B | 2.9B | 2.7B | 3.2B | 2.6B | 2.8B |
| Operating Margin | 17.4% | 17.3% | 17.5% | 21.8% | 16.7% | 20.7% |
| ROE | 8.4% | 8.8% | 8.4% | 12.0% | 8.2% | 6.9% |
| Shares Outstanding | 368M | 359M | 347M | 349M | 356M | 350M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 12.9B | 12.6B | 12.1B | 12.0B | 12.3B | 12.6B | 12.2B | 13.7B | 15.7B | 14.7B | 15.3B | 16.9B | 17.2B |
| Gross Margin | 25.9% | 28.5% | 32.0% | 34.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 22M | 23M | 24M | 24M | 24M | 24M | 24M | 25M | 27M | N/A | N/A | N/A | N/A |
| SG&A | N/A | 9.9B | 9.1B | 9.0B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 2.2B | 2.4B | 2.8B | 2.8B | 2.7B | 2.7B | 2.7B | 2.8B | 2.6B | 3.2B | 2.7B | 2.9B | 3.0B |
| Op. Margin | 17.1% | 19.3% | 23.0% | 23.1% | 21.6% | 21.3% | 21.7% | 20.7% | 16.7% | 21.8% | 17.5% | 17.3% | 17.4% |
| Net Income | 1.1B | 1.2B | 1.2B | 1.5B | 1.4B | 1.3B | 1.1B | 1.3B | 1.7B | 2.5B | 1.8B | 2.0B | 2.2B |
| Net Margin | 8.5% | 9.5% | 10.3% | 12.7% | 11.2% | 10.7% | 9.0% | 9.8% | 10.6% | 17.2% | 11.9% | 12.0% | 12.5% |
| Non-Recurring | 45M | 0 | 119M | 0 | 0 | 14M | 320M | 7.0M | 0 | 865M | -62M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 6.0% | 6.3% | 6.4% | 7.1% | 6.3% | 6.1% | 6.3% | 5.9% | 4.7% | 6.1% | 4.9% | 4.7% | 5.1% |
| ROE | 8.8% | 9.3% | 9.1% | 10.3% | 8.6% | 7.7% | 6.0% | 6.9% | 8.2% | 12.0% | 8.4% | 8.8% | 8.4% |
| ROA | 2.6% | 2.7% | 2.7% | 3.2% | 2.7% | 2.4% | 1.8% | 2.1% | 2.5% | 3.7% | 2.7% | 2.8% | 2.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 2.8B | 3.3B | 3.5B | 3.4B | 2.7B | 3.1B | 2.2B | 2.7B | 3.9B | 2.2B | 3.6B | 4.8B | 4.1B |
| Free Cash Flow | 2.7B | 2.8B | -1.8B | -239M | -2.6B | -542M | -1.9B | -1.2B | -530M | -2.2B | -1.2B | 36M | -644M |
| Owner Earnings | 1.7B | 2.1B | 2.2B | 2.0B | 1.2B | 1.4B | 261M | 666M | 1.8B | 72M | 1.4B | 2.4B | 4.1B |
| CapEx | 180M | 492M | 5.2B | 3.6B | 5.2B | 3.7B | 4.1B | 4.0B | 4.5B | 4.4B | 4.8B | 4.8B | 4.8B |
| Maint. CapEx | 1.1B | 1.1B | 1.2B | 1.3B | 1.4B | 1.7B | 1.9B | 2.0B | 2.1B | 2.0B | 2.2B | 2.3B | 25M |
| Growth CapEx | 0 | 0 | 4.0B | 2.3B | 3.8B | 2.0B | 2.2B | 1.9B | 2.4B | 2.3B | 2.6B | 2.4B | 4.8B |
| D&A | 1.1B | 1.1B | 1.2B | 1.3B | 1.4B | 1.7B | 1.9B | 2.0B | 2.1B | 2.0B | 2.2B | 2.3B | 25M |
| CapEx/OCF | 6.4% | 15.0% | 24.4% | N/A | 120.6% | 103.3% | 151.3% | 132.8% | 97.2% | 201.9% | 132.0% | 99.3% | 115.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 739M | 733M | 763M | 803M | 842M | 924M | 975M | 1.0B | 1.1B | 1.1B | 1.1B | 1.2B | 1.2B |
| Dividend Yield | 90.1% | 77.8% | 4.8% | 4.4% | 4.6% | 4.2% | 4.5% | 4.6% | 3.8% | 3.7% | 3.5% | 3.3% | 2.9% |
| Share Buybacks | 10M | 1.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.0B | 0 | 0 | 0 |
| Buyback Yield | 0.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.4% | N/A | N/A | 0.0% |
| Stock-Based Comp | 29M | 34M | 50M | 63M | 14M | 47M | 17M | 35M | 64M | 53M | 13M | 55M | 57M |
| Debt Repayment | 480M | 500M | 735M | 434M | 1.9B | 1.2B | 518M | 2.0B | 406M | 710M | 477M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 12.2B | 13.3B | 15.1B | 15.2B | 18.1B | 19.9B | 22.1B | 22.9B | 23.1B | 23.9B | 26.1B | 25.0B | 19.3B |
| Cash & Equiv. | 699M | 944M | 776M | 797M | 895M | 981M | 1.3B | 992M | 1.3B | 1.2B | 1.3B | 1.6B | 147M |
| Long-Term Debt | 11.5B | 12.0B | 14.7B | 14.7B | 17.5B | 18.5B | 20.4B | 22.6B | 22.4B | 22.0B | 24.7B | 25.6B | 18.3B |
| Debt/Equity | 1.03 | 1.09 | 1.11 | 1.04 | 1.13 | 1.16 | 1.24 | 1.19 | 1.18 | 1.19 | 1.25 | 1.10 | 0.76 |
| Interest Coverage | 3.8 | 3.8 | 4.1 | 3.8 | 3.3 | 2.7 | 2.6 | 3.1 | 3.1 | 3.1 | 2.2 | 2.4 | 2.4 |
| Equity | 12.6B | 13.1B | 14.3B | 15.4B | 16.7B | 18.0B | 18.8B | 20.0B | 20.7B | 21.2B | 22.0B | 24.2B | 25.6B |
| Total Assets | 44.1B | 45.6B | 48.3B | 48.1B | 53.9B | 58.1B | 62.9B | 63.1B | 69.1B | 66.3B | 70.6B | 74.6B | 74.7B |
| Total Liabilities | 11.4B | 12.2B | 12.7B | 8.0B | 8.7B | 9.3B | 10.0B | 10.0B | 48.2B | 10.9B | 11.9B | 12.5B | 110M |
| Intangibles | 3.0M | 2.0M | 124M | 131M | 1.7B | 1.6B | 1.5B | 1.3B | 0 | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 14.0B | 14.9B | 15.5B |
| Working Capital | -41M | -884M | -437M | -1.4B | -2.3B | -2.0B | -2.1B | 124M | 1.6B | 75M | 231M | 136M | 1.0B |
| Current Assets | 3.7B | 3.8B | 3.4B | 3.5B | 3.9B | 4.3B | 5.3B | 5.6B | 13.0B | 6.5B | 6.7B | 6.8B | 6.3B |
| Current Liabilities | 3.8B | 4.7B | 3.8B | 4.9B | 6.2B | 6.3B | 7.4B | 5.4B | 11.3B | 6.5B | 6.4B | 6.6B | 5.3B |
| Per Share Data | |||||||||||||
| EPS | 49.69 | 54.29 | 4.12 | 4.94 | 4.42 | 4.08 | 3.28 | 3.85 | 4.66 | 7.21 | 5.24 | 5.64 | 5.95 |
| Owner EPS | 78.77 | 96.15 | 7.26 | 6.36 | 3.98 | 4.26 | 0.78 | 1.90 | 5.10 | 0.21 | 4.16 | 6.76 | 11.02 |
| Book Value | 572.26 | 593.92 | 47.32 | 49.94 | 53.49 | 54.75 | 56.15 | 57.31 | 58.07 | 60.56 | 63.23 | 67.44 | 69.55 |
| Cash Flow/Share | 128.82 | 149.12 | 11.45 | 10.91 | 8.62 | 9.52 | 6.55 | 7.82 | 11.05 | 6.17 | 10.41 | 13.38 | 5.93 |
| Dividends/Share | 33.63 | 33.35 | 2.68 | 2.76 | 2.86 | 2.96 | 3.06 | 3.10 | 3.16 | 3.24 | 3.32 | 3.25 | 3.24 |
| Shares Out. | 22.0M | 22.0M | 302.2M | 308.7M | 312.7M | 329.2M | 335.7M | 349.6M | 356.2M | 349.4M | 347.3M | 358.7M | 368.0M |
| Valuation | |||||||||||||
| P/E Ratio | 12.1 | 11.1 | 12.7 | 12.8 | 13.3 | 17.6 | 18.0 | 18.9 | 18.4 | 11.6 | 16.4 | 17.5 | 19.0 |
| P/FCF | 0.4 | 0.4 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 981.7 | N/A |
| EV/EBIT | 11.1 | 10.2 | 11.3 | 12.2 | 13.4 | 15.6 | 15.0 | 13.7 | 17.5 | 13.8 | 16.7 | 17.3 | 20.4 |
| Price/Book | 1.1 | 1.0 | 1.1 | 1.3 | 1.1 | 1.3 | 1.1 | 1.3 | 1.5 | 1.4 | 1.4 | 1.5 | 1.6 |
| Price/Sales | 0.9 | 1.0 | 1.3 | 1.5 | 1.5 | 1.8 | 1.8 | 1.6 | 1.8 | 2.0 | 2.0 | 2.1 | 2.4 |
| FCF Yield | 20.0% | 21.0% | -11.2% | -1.2% | -13.9% | -2.3% | -9.5% | -4.8% | -1.7% | -7.5% | -3.9% | 0.1% | -1.5% |
| Market Cap | 13.3B | 13.3B | 15.9B | 19.5B | 18.4B | 23.6B | 19.8B | 25.5B | 30.6B | 29.3B | 29.8B | 35.3B | 41.6B |
| Avg. Price | 37.31 | 42.86 | 52.14 | 59.29 | 58.91 | 67.57 | 64.29 | 63.48 | 81.03 | 84.11 | 89.67 | 98.36 | 113.01 |
| Year-End Price | 45.03 | 45.05 | 52.45 | 63.21 | 58.94 | 71.78 | 59.10 | 72.90 | 85.83 | 83.98 | 85.90 | 98.53 | 113.01 |
CONSOLIDATED EDISON INC passes 3 of 9 quality checks, indicating weak fundamentals.
CONSOLIDATED EDISON INC trades at 20.0x trailing earnings, compared to its 15-year median P/E of 16.9x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 5.2%. Total shareholder yield (dividends) is 2.9%. At current prices, the estimated annualized return to fair value is +8.3%.
CONSOLIDATED EDISON INC (ED) has a net profit margin of 12.0%. This is a healthy margin.
CONSOLIDATED EDISON INC (ED) generated $36 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CONSOLIDATED EDISON INC (ED) has a debt-to-equity ratio of 1.10. This indicates moderate leverage.
CONSOLIDATED EDISON INC (ED) reported earnings per share (EPS) of $5.64 in its most recent fiscal year.
CONSOLIDATED EDISON INC (ED) has a return on equity (ROE) of 8.8%. This indicates moderate shareholder returns.
The Ledger Terminal provides 17 years of financial data for CONSOLIDATED EDISON INC (ED), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CONSOLIDATED EDISON INC (ED) has a book value per share of $67.44, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management emphasizes continued investment in reliable, resilient, safe and clean energy infrastructure critical for its service territories. The company pursues shareholder value through dividend growth supported by earnings expansion in regulated utilities and electric transmission projects. The regulatory framework provides stable, predictable returns through approved rate plans, though the company faces ongoing generic proceedings on clean energy implementation, energy affordability, and renewable energy programs. Federal tariff actions and supply chain developments present potential cost pressures that the company continues to monitor closely.