A Business at a Glance
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Evergy, Inc.
EVRG
$20.4B
Mkt Cap
$87.18
+0.61%
Evergy, Inc. (EVRG) has a current P/E ratio of 23.5, compared to its historical median P/E of 17.0. The stock is currently considered Expensive based on its historical valuation range.
Evergy, Inc. (EVRG) has a 5-year average return on invested capital (ROIC) of 6.1%. This is below average and may indicate limited pricing power.
Evergy, Inc. (EVRG) has a market capitalization of $20.1B. It is classified as a large-cap stock.
Yes, Evergy, Inc. (EVRG) pays a dividend with a trailing twelve-month yield of 3.07%.
Based on historical P/E analysis, Evergy, Inc. (EVRG) appears expensive. The current P/E of 23.5 is 38% above its historical median of 17.0. The estimated fair value CAGR (P/E method) is 4.9%.
Evergy, Inc. (EVRG) operates in the Electric & Other Services Combined industry, within the Utilities sector.
Evergy, Inc. (EVRG) reported annual revenue of $6.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
Evergy, Inc. is a public utility holding company headquartered in Kansas City, Missouri, operating integrated regulated electric utilities through subsidiaries in Kansas and Missouri that serve approximately 1.7 million customers (1.5 million residential, 0.2 million commercial, and 7,400 industrial, municipal, and other utilities). The company earns revenues through regulated retail electricity sales across residential, commercial, industrial, wholesale, and transmission segments, with approximately 37% from residential, 33% from commercial, 11% from industrial, 5% from wholesale, 9% from transmission, and 5% from other sources. Evergy's power supply comprises approximately 15,800 megawatts of owned generating capacity and renewable power purchase agreements, with a portfolio of 37% coal, 29% wind, 27% natural gas and oil, 7% uranium, and less than 1% solar and landfill gas; the company generates approximately 60% of its power internally and purchases 40% from others, with about 60% of purchased power sourced from long-term renewable contracts. The company operates as a fully integrated regulated utility in franchised service territories in Kansas and Missouri, competing in wholesale markets through the Southwest Power Pool Integrated Marketplace while maintaining regulated retail operations under state regulatory oversight by the Kansas Corporation Commission and Missouri Public Service Commission. Evergy's strategy centers on affordability through infrastructure investment supporting growth, reliability targeting top-tier performance in customer service and generation, and sustainability through an "all-of-the-above" generation portfolio, with the company focused on enabling economic development and meeting customer electricity demand growth through evolution of its generation, transmission, and distribution systems.
【Large load customer growth driving transformation】 Management expects robust retail load growth of approximately 7%-8% through 2030, driven primarily by execution of electric service agreements with major data center and advanced manufacturing customers, representing a significant acceleration from historical growth rates of 0.5%-1%. The company anticipates customer rate increases for the significant majority of residential customers to remain in line with or below inflation over the next several years, while Missouri West rates are expected to be somewhat higher due to necessary infrastructure investments but remain regionally competitive and manageable over the long term. Evergy expects to deliver affordability benefits to existing customers through the strong protections embedded in its Large Load Power Service tariffs, which ensure that new large customers pay their fair share of system costs. The company is advancing an "all-of-the-above" generation strategy incorporating natural gas, energy storage, and solar resources to support long-term growth, with multiple generation predetermination filings anticipated over the balance of 2026 in Kansas and related filings in Missouri. Management remains focused on maintaining a balanced portfolio of resource additions and expects to continue executing additional large customer electric service agreements beyond those already announced, with at least one more ESA expected in 2026 that would represent upside to the current financial plan.
| Metric | Target | Period |
|---|---|---|
| Adjusted EPS | $4.14–$4.34 per share | FY2026 |
| Adjusted EPS growth | exceed 8% annually | 2028–2030 |
| Retail load growth CAGR | approximately 7%-8% | 2026–2030 |
| Load growth by utility | 6% to 11% in each of three utilities | 2026–2030 |
| Large load customer capacity | up to 2.25 GW | by end of 2030 |
| Five-year capital investment | approximately $21.6 billion | 2026–2030 |
| Rate base CAGR | 11.5% annualized | 2026–2030 |
| FFO to debt ratio | 14%-15% | 2026–2028 |
| Nuclear production tax credits monetization | in excess of $100 million per year | annual flow-back over three years |
Adjusted EPS (FY2026): “we are reaffirming our 2026 adjusted EPS guidance range of $4.14 $4.34 per share”
“We expect adjusted EPS growth to exceed 8% annually beginning in 2028 through 2030”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 6.0B | 6.0B | 5.8B | 5.5B | 5.9B | 5.6B |
| Net Income | 882M | 856M | 874M | 731M | 753M | 880M |
| EPS | $3.83 | $3.66 | $3.79 | $3.17 | $3.27 | $3.83 |
| Free Cash Flow | -1.1B | -752M | -353M | -354M | -365M | -621M |
| ROIC | 5.9% | 6.1% | 6.2% | 5.9% | 6.0% | 6.3% |
| Gross Margin | - | 55.6% | 53.8% | 52.4% | 44.4% | 47.0% |
| Debt/Equity | 1.52 | 1.45 | 1.38 | 1.33 | 1.12 | 1.14 |
| Dividends/Share | $2.68 | $2.70 | $2.60 | $2.48 | $2.33 | $2.18 |
| Operating Income | 1.6B | 1.5B | 1.5B | 1.3B | 1.3B | 1.4B |
| Operating Margin | 25.9% | 25.7% | 25.1% | 23.3% | 21.6% | 24.3% |
| ROE | 8.7% | 8.5% | 8.9% | 7.6% | 8.0% | 9.8% |
| Shares Outstanding | 231M | 234M | 230M | 231M | 230M | 230M |
| Metric | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 2.6B | 2.6B | 4.3B | 5.1B | 4.9B | 5.6B | 5.9B | 5.5B | 5.8B | 6.0B | 6.0B |
| Gross Margin | 46.9% | 47.5% | 42.8% | 47.0% | 49.0% | 47.0% | 44.4% | 52.4% | 53.8% | 55.6% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 702M | 679M | 934M | 1.2B | 1.1B | 1.4B | 1.3B | 1.3B | 1.5B | 1.5B | 1.6B |
| Op. Margin | 27.4% | 26.4% | 21.8% | 23.0% | 23.3% | 24.3% | 21.6% | 23.3% | 25.1% | 25.7% | 25.9% |
| Net Income | 347M | 324M | 536M | 670M | 618M | 880M | 753M | 731M | 874M | 856M | 882M |
| Net Margin | 13.5% | 12.6% | 12.5% | 13.0% | 12.6% | 15.7% | 12.8% | 13.3% | 14.9% | 14.4% | 14.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 27M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||
| ROIC | 11.5% | 7.9% | 6.8% | 6.0% | 5.6% | 6.3% | 6.0% | 5.9% | 6.2% | 6.1% | 5.9% |
| ROE | 9.2% | 8.4% | 7.7% | 7.2% | 7.1% | 9.8% | 8.0% | 7.6% | 8.9% | 8.5% | 8.7% |
| ROA | N/A | 5.6% | 2.9% | 2.6% | 2.3% | 3.2% | 2.6% | 2.4% | 2.8% | 2.6% | 2.6% |
| Cash Flow | |||||||||||
| Op. Cash Flow | 804M | 913M | 1.5B | 1.7B | 1.8B | 1.4B | 1.8B | 2.0B | 2.0B | 2.0B | 2.0B |
| Free Cash Flow | -283M | 148M | 428M | 539M | 194M | -621M | -365M | -354M | -353M | -752M | -1.1B |
| Owner Earnings | 456M | 532M | 849M | 871M | 858M | 440M | 854M | 886M | 854M | 862M | 756M |
| CapEx | 1.1B | 765M | 1.1B | 1.2B | 1.6B | 2.0B | 2.2B | 2.3B | 2.3B | 2.8B | 3.1B |
| Maint. CapEx | 339M | 372M | 619M | 862M | 880M | 896M | 929M | 1.1B | 1.1B | 1.2B | 1.2B |
| Growth CapEx | 749M | 393M | 451M | 348M | 680M | 1.1B | 1.2B | 1.3B | 1.2B | 1.6B | 1.9B |
| D&A | 339M | 372M | 619M | 862M | 880M | 896M | 929M | 1.1B | 1.1B | 1.2B | 1.2B |
| CapEx/OCF | N/A | 83.8% | 71.4% | 69.2% | 89.0% | 145.9% | 120.2% | 117.9% | 117.8% | 136.8% | 156.1% |
| Capital Allocation | |||||||||||
| Dividends Paid | 204M | 223M | 475M | 463M | 465M | 498M | 535M | 570M | 597M | 613M | 617M |
| Dividend Yield | N/A | 4.0% | 5.4% | 4.1% | 4.3% | 4.2% | 4.1% | 4.8% | 4.9% | 3.8% | 3.1% |
| Share Buybacks | 0 | 0 | 1.0B | 1.6B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | 10.6% | 14.2% | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 9.3M | 8.8M | 30M | 16M | 16M | 16M | 19M | 18M | 15M | 21M | 22M |
| Debt Repayment | 50M | 125M | 396M | 701M | 251M | 432M | 411M | 440M | 812M | 751M | 751M |
| Balance Sheet | |||||||||||
| Net Debt | 509M | 3.6B | 7.1B | 8.9B | 9.2B | 10.5B | 10.6B | 12.8B | 13.7B | 14.8B | 15.5B |
| Cash & Equiv. | 3.2M | 3.4M | 160M | 23M | 145M | 26M | 25M | 28M | 22M | 20M | 18M |
| Long-Term Debt | 396M | 3.7B | 6.6B | 8.7B | 9.2B | 9.3B | 9.9B | 11.1B | 11.8B | 13.0B | 13.1B |
| Debt/Equity | 0.13 | 0.92 | 0.72 | 1.04 | 1.07 | 1.14 | 1.12 | 1.33 | 1.38 | 1.45 | 1.52 |
| Interest Coverage | 4.3 | 4.0 | 3.3 | 3.2 | 3.0 | 3.6 | 3.1 | 2.4 | 2.6 | 2.5 | 2.4 |
| Equity | 3.8B | 3.9B | 10.0B | 8.6B | 8.7B | 9.2B | 9.5B | 9.7B | 10.0B | 10.2B | 10.2B |
| Total Assets | N/A | 11.6B | 25.6B | 26.0B | 27.1B | 28.5B | 29.5B | 31.0B | 32.3B | 33.9B | 34.5B |
| Total Liabilities | -86M | 1.7B | 3.6B | 3.5B | 3.2B | 3.3B | 20.0B | 21.3B | 22.3B | 23.7B | 25M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 1.2B | 1.3B | 1.6B | 1.7B | 2.1B | 2.3B | 2.5B | 2.7B | 3.0B | 3.0B |
| Working Capital | N/A | -97M | -1.2B | -868M | -732M | -1.4B | -1.7B | -1.7B | -1.8B | -1.9B | -2.3B |
| Current Assets | N/A | 727M | 1.7B | 1.5B | 1.6B | 1.7B | 1.8B | 1.8B | 1.8B | 1.8B | 1.9B |
| Current Liabilities | -86M | 824M | 2.9B | 2.3B | 2.4B | 3.1B | 3.5B | 3.5B | 3.7B | 3.7B | 4.2B |
| Per Share Data | |||||||||||
| EPS | 2.43 | 2.27 | 2.50 | 2.79 | 2.72 | 3.83 | 3.27 | 3.17 | 3.79 | 3.66 | 3.83 |
| Owner EPS | 3.20 | 3.73 | 3.96 | 3.63 | 3.77 | 1.91 | 3.71 | 3.84 | 3.71 | 3.69 | 3.28 |
| Book Value | 26.87 | 27.39 | 46.79 | 35.70 | 38.42 | 40.25 | 41.20 | 41.89 | 43.19 | 43.72 | 44.06 |
| Cash Flow/Share | 5.64 | 6.40 | 6.99 | 7.28 | 7.72 | 5.88 | 7.83 | 8.58 | 8.61 | 8.75 | 8.95 |
| Dividends/Share | 1.52 | 1.60 | 1.74 | 1.93 | 2.05 | 2.18 | 2.33 | 2.48 | 2.60 | 2.70 | 2.68 |
| Shares Out. | 142.6M | 142.7M | 214.3M | 240.1M | 227.3M | 229.7M | 230.2M | 230.7M | 230.5M | 233.8M | 230.5M |
| Valuation | |||||||||||
| P/E Ratio | N/A | 17.2 | 18.3 | 17.2 | 16.3 | 15.1 | 17.0 | 15.1 | 15.6 | 19.6 | 22.8 |
| P/FCF | N/A | 37.7 | 21.7 | 22.6 | 51.8 | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | 13.6 | 18.8 | 17.5 | 17.4 | 17.2 | 18.5 | 18.6 | 18.6 | 20.6 | 22.8 |
| Price/Book | N/A | 1.4 | 1.0 | 1.3 | 1.2 | 1.4 | 1.3 | 1.1 | 1.4 | 1.6 | 2.0 |
| Price/Sales | N/A | 2.1 | 2.2 | 2.1 | 2.2 | 2.1 | 2.2 | 2.1 | 2.1 | 2.6 | 3.3 |
| FCF Yield | N/A | 2.7% | 4.4% | 4.7% | 1.9% | -4.7% | -2.9% | -3.2% | -2.6% | -4.5% | -5.5% |
| Market Cap | 0 | 5.6B | 9.8B | 11.5B | 10.1B | 13.3B | 12.8B | 11.0B | 13.7B | 16.8B | 20.1B |
| Avg. Price | 0.00 | 38.72 | 41.07 | 47.11 | 47.30 | 51.66 | 56.01 | 51.21 | 52.78 | 68.58 | 87.18 |
| Year-End Price | 0.00 | 39.13 | 43.27 | 50.64 | 44.07 | 57.93 | 55.58 | 48.01 | 59.35 | 72.77 | 87.18 |
Evergy, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Evergy, Inc. trades at 23.5x trailing earnings, compared to its 15-year median P/E of 17.0x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 6.1% with a gross margin of 50.6%. Total shareholder yield (dividends) is 3.1%. At current prices, the estimated annualized return to fair value is -7.4%.
Evergy, Inc. (EVRG) has a net profit margin of 14.4%. This is a healthy margin.
Evergy, Inc. (EVRG) generated $-752 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Evergy, Inc. (EVRG) has a debt-to-equity ratio of 1.45. This indicates moderate leverage.
Evergy, Inc. (EVRG) reported earnings per share (EPS) of $3.66 in its most recent fiscal year.
Evergy, Inc. (EVRG) has a return on equity (ROE) of 8.5%. This indicates moderate shareholder returns.
Evergy, Inc. (EVRG) has a 5-year average gross margin of 50.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 10 years of financial data for Evergy, Inc. (EVRG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Evergy, Inc. (EVRG) has a book value per share of $43.72, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects robust retail load growth of approximately 7%-8% through 2030, driven primarily by execution of electric service agreements with major data center and advanced manufacturing customers, representing a significant acceleration from historical growth rates of 0.5%-1%. The company anticipates customer rate increases for the significant majority of residential customers to remain in line with or below inflation over the next several years, while Missouri West rates are expected to be somewhat higher due to necessary infrastructure investments but remain regionally competitive and manageable over the long term. Evergy expects to deliver affordability benefits to existing customers through the strong protections embedded in its Large Load Power Service tariffs, which ensure that new large customers pay their fair share of system costs. The company is advancing an "all-of-the-above" generation strategy incorporating natural gas, energy storage, and solar resources to support long-term growth, with multiple generation predetermination filings anticipated over the balance of 2026 in Kansas and related filings in Missouri. Management remains focused on maintaining a balanced portfolio of resource additions and expects to continue executing additional large customer electric service agreements beyond those already announced, with at least one more ESA expected in 2026 that would represent upside to the current financial plan.
Based on recent SEC filings and earnings calls, Evergy, Inc. (EVRG) has provided the following forward guidance: Adjusted EPS: $4.14–$4.34 per share (FY2026); Adjusted EPS growth: exceed 8% annually (2028–2030); Retail load growth CAGR: approximately 7%-8% (2026–2030); Load growth by utility: 6% to 11% in each of three utilities (2026–2030); Large load customer capacity: up to 2.25 GW (by end of 2030), plus 4 additional metrics.
Retail load growth CAGR (2026–2030): “supporting our retail load growth CAGR of approximately 7%-8% through 2030, up from our previous forecast of 6%”
Load growth by utility (2026–2030): “we now expect load growth ranging from 6% to 11% in each of our three utilities over the next five years”
Large load customer capacity (by end of 2030): “By the end of 2030, we expect to be serving up to 2.25 GW of capacity for this set of new customers”
Five-year capital investment (2026–2030): “A rolling five-year investment plan totals approximately $21.6 billion from 2026 - 2030”
Rate base CAGR (2026–2030): “Our five-year investment program is expected to result in 11.5% annualized rate base growth through 2030”
FFO to debt ratio (2026–2028): “From 2026 to 2028, we expect to be in the range of 14%-15%”