NYSE: ED
Consolidated Edison
Utilities · Electric & Other Services Combined
52-week range
$94.96$117.65
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$41.7B
Show tableHide table
| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $22.5B |
| FY2017, ended Dec 31, 2017 | $26.4B |
| FY2018, ended Dec 31, 2018 | $24.5B |
| FY2019, ended Dec 31, 2019 | $30.2B |
| FY2020, ended Dec 31, 2020 | $24.7B |
| FY2021, ended Dec 31, 2021 | $30.2B |
| FY2022, ended Dec 31, 2022 | $33.8B |
| FY2023, ended Dec 31, 2023 | $31.4B |
| FY2024, ended Dec 31, 2024 | $30.9B |
| FY2025, ended Dec 31, 2025 | $35.9B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $41.7B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$17.4B
Show tableHide table
| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $12.1B |
| FY2017, ended Dec 31, 2017 | $12.0B |
| FY2018, ended Dec 31, 2018 | $12.3B |
| FY2019, ended Dec 31, 2019 | $12.6B |
| FY2020, ended Dec 31, 2020 | $12.2B |
| FY2021, ended Dec 31, 2021 | $13.7B |
| FY2022, ended Dec 31, 2022 | $15.7B |
| FY2023, ended Dec 31, 2023 | $14.7B |
| FY2024, ended Dec 31, 2024 | $15.5B |
| FY2025, ended Dec 31, 2025 | $17.0B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $17.4B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $1.25B | −$1.78B |
| FY2017, ended Dec 31, 2017 | $1.52B | −$239M |
| FY2018, ended Dec 31, 2018 | $1.38B | −$2.55B |
| FY2019, ended Dec 31, 2019 | $1.34B | −$542M |
| FY2020, ended Dec 31, 2020 | $1.10B | −$1.89B |
| FY2021, ended Dec 31, 2021 | $1.35B | −$1.23B |
| FY2022, ended Dec 31, 2022 | $1.66B | −$530M |
| FY2023, ended Dec 31, 2023 | $2.52B | — |
| FY2024, ended Dec 31, 2024 | $1.82B | — |
| FY2025, ended Dec 31, 2025 | $2.02B | — |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $2.16B | — |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$147M
Show tableHide table
| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $776M |
| FY2017, ended Dec 31, 2017 | $797M |
| FY2018, ended Dec 31, 2018 | $895M |
| FY2019, ended Dec 31, 2019 | $981M |
| FY2020, ended Dec 31, 2020 | $1.27B |
| FY2021, ended Dec 31, 2021 | $992M |
| FY2022, ended Dec 31, 2022 | $1.28B |
| FY2023, ended Dec 31, 2023 | $1.19B |
| FY2024, ended Dec 31, 2024 | $1.32B |
| FY2025, ended Dec 31, 2025 | $1.63B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $147M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.—
Show tableHide table
| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $15.8B |
| FY2017, ended Dec 31, 2017 | $16.0B |
| FY2018, ended Dec 31, 2018 | $19.0B |
| FY2019, ended Dec 31, 2019 | $20.0B |
| FY2020, ended Dec 31, 2020 | $22.5B |
| FY2021, ended Dec 31, 2021 | $23.0B |
| FY2022, ended Dec 31, 2022 | $23.8B |
| FY2023, ended Dec 31, 2023 | $24.5B |
| FY2024, ended Dec 31, 2024 | $26.9B |
| FY2025, ended Dec 31, 2025 | $27.4B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | — |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 20.8% since 2016.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.369M
Show tableHide table
| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 305M |
| FY2017, ended Dec 31, 2017 | 310M |
| FY2018, ended Dec 31, 2018 | 321M |
| FY2019, ended Dec 31, 2019 | 334M |
| FY2020, ended Dec 31, 2020 | 342M |
| FY2021, ended Dec 31, 2021 | 354M |
| FY2022, ended Dec 31, 2022 | 355M |
| FY2023, ended Dec 31, 2023 | 346M |
| FY2024, ended Dec 31, 2024 | 347M |
| FY2025, ended Dec 31, 2025 | 361M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | 369M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.Net: —
Show tableHide table
| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | — | $50.0M | $702M |
| FY2017, ended Dec 31, 2017 | — | $63.0M | $343M |
| FY2018, ended Dec 31, 2018 | — | $14.0M | $705M |
| FY2019, ended Dec 31, 2019 | — | $47.0M | $825M |
| FY2020, ended Dec 31, 2020 | — | $17.0M | $640M |
| FY2021, ended Dec 31, 2021 | $0 | $35.0M | $775M |
| FY2022, ended Dec 31, 2022 | $0 | $64.0M | $0 |
| FY2023, ended Dec 31, 2023 | $1.00B | $53.0M | $0 |
| FY2024, ended Dec 31, 2024 | $0 | $35.0M | — |
| FY2025, ended Dec 31, 2025 | $0 | $55.0M | — |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | — | — | — |
Revenue (TTM)
$17.4B
+8.2% YoY
Net income (TTM)
$2.16B
+14.0% YoY
Cash
$147M
−59.2% YoY
Total debt
—
—
Valuation
At current price- Market Cap
- $43.0B
- P/E
- 19.9×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.5×
- Price / Book
- 1.7×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $17.4B
- Revenue Growth YoY
- 8.2%
- Revenue CAGR 3Y
- 2.9%
- Revenue CAGR 5Y
- 6.8%
- EPS Growth YoY
- 9.6%
- Net Income Growth YoY
- 14.0%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 17.2%
- Net Margin
- 12.4%
- FCF Margin
- —. Free cash flow / revenue
- Return on Equity
- 8.7%
Earnings
Trailing 12 months- Net Income
- $2.16B
- EPS (diluted)
- $5.93
- EBITDA
- $5.32B
- Operating Income
- $2.99B
Balance Sheet
As of Mar 31, 2026- Cash and cash equivalents
- $147M
- Total Debt
- —. Short- and long-term borrowings, excluding leases
- Net Cash
- —. Cash − total debt
- Total Assets
- $74.7B
- Total Liabilities
- $49.1B
- Shareholders' Equity
- $25.6B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $4.14B
- Capital Expenditure
- —
- Free Cash Flow
- —. Operating cash flow − capital expenditure
Dividends and risk
Last 12 months- Dividend Yield
- 3.0%
- Dividend / Share
- $3.51
- Beta (5Y)
- 0.26
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 8.2% year over year, at $17.4B.
Note
Net margin of 12.4% over the last 12 months.
Note
Pays a 3.0% dividend yield.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 19, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K52Some concerns
52Some concerns
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 20, 2025 · Read the filing on EDGAR
- Profit for shareholders fell 28% to $1.82 billion ($5.26 a share) because 2023 included a $767 million gain from selling the Clean Energy Businesses.
- Revenue rose 4% to $15.26 billion. Profit at CECONY, the main utility, rose to $1.75 billion on rate increases, and the steam business swung back to an operating profit.
- Overdue customer bills at CECONY grew again, to $1.65 billion, though operating cash flow recovered 68% to $3.61 billion.
- Planned utility spending rose to over $37.2 billion for the next five years. Long-term debt rose $2.7 billion, and the company agreed to a forward sale of 7 million shares.
Business momentum
Mixed
“Total Con Edison $15,256 100 % $1,820 100 % $70,562 100 %”
Outlook
Cautious
“a continued increase in accounts receivable balances has impacted and is expected to continue to impact the Companies’ liquidity.”
Financial stress
Low
“Each of the Companies believes that it will be able to meet its reasonably likely short-term and long-term cash requirements.”
Tone against the previous report
About the same
Red flags
- Minor
Other
“Impact of the NYSPSC order denying an April 2023 petition by CECONY that requested permission to capitalize costs to implement its new customer billing and information system (10) (0.03)”
Positives
Main utility profit up on rate increases
“CECONY $1,748 $1,606 $5.05 $4.62”
Operating cash flow recovered strongly
“Net cash flows from operating activities in 2024 for Con Edison were $1,458 million higher than in 2023.”
Steam business back to profit
“Steam operating income $13 $(73) $86”
Concerns
Overdue customer bills keep growing
“included aged accounts receivables (balances outstanding in excess of 60 days) of $1,652 million and $32 million, respectively”
Higher debt raising interest costs
“Net interest expense increased $164 million in 2024 compared with 2023 primarily due to higher interest expense for long-term debt due to higher debt balances ($142 million)”
Large spending plan depends on capital markets
“The Utilities estimate that their capital expenditures will exceed $37,200 million over the next five years.”
New risks since the previous report
Federal pause on offshore wind may hurt transmission bids
“In January 2025, the President of the United States issued an executive order temporarily withdrawing all areas on the outer continental shelf from new offshore wind leasing, pending review by the new Administration”
Tariffs raising equipment costs
“Increases in inflation and the imposition of tariffs may raise the Companies’ costs in excess of the costs reflected in the Utilities’ rate plans”
State audit of utility incentive pay
“In February 2025, the NYSPSC issued an order directing the NYSDPS to conduct a state-wide audit on the design of utilities' non-executive incentive compensation programs.”
Possible sale of pipeline investments
“Con Edison Transmission is considering strategic alternatives with respect to its investment in MVP”
Share dilution from forward sale
“In December 2024, Con Edison entered into a forward sale agreement relating to 7,000,000 of its common shares”
Biggest risks named
- Unpaid customer bills slowing cash collection
- Over $37.2 billion of utility spending that depends on borrowing and share sales
- Rate case outcomes and regulators' cost recovery decisions
- Inflation, tariffs and supply chain shortages raising costs
- Cyber attacks and failures of key facilities
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | −2 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −0.9 | |
| New risks | −2 | |
| Score | 52 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 19, 2026 | Pro | |||
| 10-K | Feb 20, 2025 | 52 | Mixed | 1 minor | |
| 10-K | Feb 15, 2024 | 53 | Mixed | None | |
| 10-K | Feb 16, 2023 | 70 | Strong improvement | None | |
| 10-K | Feb 17, 2022 | 64 | Strong improvement | 2 medium | |
| 10-K | Feb 18, 2021 | 42 | Weakening | 2 medium | |
| 10-K | Feb 20, 2020 | 56 | Stable | 1 medium | |
| 10-K | Feb 21, 2019 | 50 | Mixed | 1 medium1 minor | |
| 10-K | Feb 15, 2018 | 63 | Improving | None | |
| 10-K | Feb 16, 2017 | 63 | Improving | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2026 (period ended Mar 31, 2026), filed May 7, 2026. View filings on SEC EDGAR