NYSE: EIX
Edison International
Utilities · Electric Services
52-week range
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 Sep 30, 2026. Hover or tap a column for another year.$20.7B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $23.5B |
| FY2017, ended Dec 31, 2017 | $20.6B |
| FY2018, ended Dec 31, 2018 | $18.5B |
| FY2019, ended Dec 31, 2019 | $27341T |
| FY2020, ended Dec 31, 2020 | $23.8B |
| FY2021, ended Dec 31, 2021 | $26.0B |
| FY2022, ended Dec 31, 2022 | $24.3B |
| FY2023, ended Dec 31, 2023 | $27.5B |
| FY2024, ended Dec 31, 2024 | $30.7B |
| FY2025, ended Dec 31, 2025 | $23.1B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $20.7B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$18.6B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $11.9B |
| FY2017, ended Dec 31, 2017 | $12.3B |
| FY2018, ended Dec 31, 2018 | $12.7B |
| FY2019, ended Dec 31, 2019 | $12.3B |
| FY2020, ended Dec 31, 2020 | $13.6B |
| FY2021, ended Dec 31, 2021 | $14.9B |
| FY2022, ended Dec 31, 2022 | $17.2B |
| FY2023, ended Dec 31, 2023 | $16.3B |
| FY2024, ended Dec 31, 2024 | $17.6B |
| FY2025, ended Dec 31, 2025 | $19.3B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $18.6B |
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 Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $1.31B | −$495M |
| FY2017, ended Dec 31, 2017 | $565M | −$247M |
| FY2018, ended Dec 31, 2018 | −$423M | −$1.33B |
| FY2019, ended Dec 31, 2019 | $1.28B | −$5.18B |
| FY2020, ended Dec 31, 2020 | $739M | −$4.22B |
| FY2021, ended Dec 31, 2021 | $759M | −$5.49B |
| FY2022, ended Dec 31, 2022 | $612M | −$2.56B |
| FY2023, ended Dec 31, 2023 | $1.20B | −$2.05B |
| FY2024, ended Dec 31, 2024 | $1.28B | −$693M |
| FY2025, ended Dec 31, 2025 | $4.46B | −$715M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $3.64B | −$132M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$171M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $96.0M |
| FY2017, ended Dec 31, 2017 | $1.09B |
| FY2018, ended Dec 31, 2018 | $144M |
| FY2019, ended Dec 31, 2019 | $68.0M |
| FY2020, ended Dec 31, 2020 | $87.0M |
| FY2021, ended Dec 31, 2021 | $390M |
| FY2022, ended Dec 31, 2022 | $914M |
| FY2023, ended Dec 31, 2023 | $345M |
| FY2024, ended Dec 31, 2024 | $193M |
| FY2025, ended Dec 31, 2025 | $158M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $171M |
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 Sep 30, 2026. Hover or tap a column for another year.$41.6B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $12.5B |
| FY2017, ended Dec 31, 2017 | $14.5B |
| FY2018, ended Dec 31, 2018 | $15.4B |
| FY2019, ended Dec 31, 2019 | $18.9B |
| FY2020, ended Dec 31, 2020 | $22.7B |
| FY2021, ended Dec 31, 2021 | $27.6B |
| FY2022, ended Dec 31, 2022 | $31.7B |
| FY2023, ended Dec 31, 2023 | $34.1B |
| FY2024, ended Dec 31, 2024 | $36.6B |
| FY2025, ended Dec 31, 2025 | $40.4B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $41.6B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 18.1% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.385M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 326M |
| FY2017, ended Dec 31, 2017 | 326M |
| FY2018, ended Dec 31, 2018 | 326M |
| FY2019, ended Dec 31, 2019 | 363T |
| FY2020, ended Dec 31, 2020 | 379M |
| FY2021, ended Dec 31, 2021 | 381M |
| FY2022, ended Dec 31, 2022 | 383M |
| FY2023, ended Dec 31, 2023 | 385M |
| FY2024, ended Dec 31, 2024 | 385M |
| FY2025, ended Dec 31, 2025 | 385M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 385M |
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 Sep 30, 2026. Hover or tap a column for another year.Net: $42.0M more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | — | $34.0M | — |
| FY2017, ended Dec 31, 2017 | — | $23.0M | $0 |
| FY2018, ended Dec 31, 2018 | — | $21.0M | $0 |
| FY2019, ended Dec 31, 2019 | — | $29.0M | $2.39B |
| FY2020, ended Dec 31, 2020 | — | $29.0M | $912M |
| FY2021, ended Dec 31, 2021 | — | $39.0M | $32.0M |
| FY2022, ended Dec 31, 2022 | $0 | $42.0M | $13.0M |
| FY2023, ended Dec 31, 2023 | $0 | $46.0M | $20.0M |
| FY2024, ended Dec 31, 2024 | $200M | $57.0M | — |
| FY2025, ended Dec 31, 2025 | $32.0M | $57.0M | — |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $42.0M | — | — |
Revenue (TTM)
$18.6B
+2.6% YoY
Net income (TTM)
$3.64B
+23.2% YoY
Cash
$171M
−53.0% YoY
Total debt
$41.6B
+8.7% YoY
Valuation
At current price- Market Cap
- $22.6B
- P/E
- 6.2×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.2×
- Price / Book
- 1.3×
- EV / EBITDA
- 6.9×
Growth
Trailing 12 months- Revenue (TTM)
- $18.6B
- Revenue Growth YoY
- 2.6%
- Revenue CAGR 3Y
- 3.9%
- Revenue CAGR 5Y
- 7.3%
- EPS Growth YoY
- 23.3%
- Net Income Growth YoY
- 23.2%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 31.8%
- Net Margin
- 19.6%
- FCF Margin
- −0.7%
- Return on Equity
- 20.8%
Earnings
Trailing 12 months- Net Income
- $3.64B
- EPS (diluted)
- $9.41
- EBITDA
- $9.23B
- Operating Income
- $5.90B
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $171M
- Total Debt
- $41.6B
- Net Debt
- $41.4B
- Total Assets
- $96.9B
- Total Liabilities
- $77.4B
- Shareholders' Equity
- $17.9B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $6.96B
- Capital Expenditure
- $7.10B
- Free Cash Flow
- −$132M
Dividends and risk
Last 12 months- Dividend Yield
- 6.0%
- Dividend / Share
- $3.51
- Beta (5Y)
- 0.63
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $18.6B.
Strength
Operating margin widened 3.4 pts in a year, to 31.8%.
Watch
Net debt is 4.5× EBITDA ($41.4B), a heavy load.
Watch
Free cash flow was negative (−$132M) over the last year.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 29, 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
2025 · 10-K58Nothing notable
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 18, 2026 · Read the filing on EDGAR
- Net income more than tripled to $4,459 million, mostly from regulators approving recovery of past wildfire costs; core earnings rose 33% to $2,520 million.
- SCE now says its equipment likely could have been associated with the Eaton Fire and expects more material losses it cannot yet estimate.
- Regulators approved SCE's 2025 rate case, adding $880 million of authorized revenue, and the Woolsey settlement, but set allowed return on equity at 10.03% for 2026.
- S&P cut SCE's credit rating to BBB- with a negative outlook, while the Los Angeles District Attorney is investigating the Eaton Fire.
Business momentum
Strong improvement
“Edison International's 2025 earnings increased $3,175 million, driven by an increase in SCE's earnings of $3,270 million, partially offset by an increase in Edison International Parent and Other loss of $95 million.”
Outlook
Positive
“SCE projects electricity demand to nearly double between 2025 and 2045, driven by transportation electrification, new residential housing, and increases in commercial and industrial consumption.”
Financial stress
Moderate
“In the next 12 months, SCE expects to fund its cash requirements through operating cash flows, capital market and bank financings, and equity contributions from Edison International Parent, as needed.”
Tone against the previous report
About the same
Red flags
- Medium
Major lawsuit
“In light of pending litigation, it is probable that Edison International and SCE will incur additional material losses in connection with the Eaton Fire.”
- Medium
Investigation
“Edison International and SCE are also aware of an ongoing investigation by the Los Angeles District Attorney's Office of the Eaton Fire for the purpose of determining whether any criminal violations have occurred.”
- Medium
Other
“However, S&P downgraded SCE's long-term issuer credit rating.”
Positives
Underlying earnings grew on the approved rate case
“The increase in SCE's core earnings in 2025 was primarily due to higher revenue from the 2025 GRC final decision and a benefit to interest expense related to cost recoveries authorized under the TKM and Woolsey Settlement Agreements.”
Rate case approved, adding $880 million of authorized revenue
“The final decision approved an authorized revenue requirement of $9.7 billion in 2025, an increase of $880 million over the adjusted 2024 authorized revenue requirement”
Wildfire Fund has large reported capacity for Eaton claims
“The fund administrator has reported that the fund's claims-paying capacity for the Eaton Fire, as of September 30, 2025, exceeds $21 billion.”
Concerns
Eaton Fire: SCE equipment likely involved and total losses unknown
“Absent additional evidence, SCE believes that it is likely that its equipment could have been associated with the ignition of the Eaton Fire”
Most of the 2025 profit jump came from one-time wildfire recoveries
“SCE's higher net income consisted of $679 million of higher core earnings and $2,591 million of higher non-core earnings.”
Thin cash balance and heavy reliance on credit lines and markets
“At December 31, 2025, SCE had cash on hand of $98 million and restricted cash of $522 million collected from customer-funded self-insurance.”
New risks since the previous report
Eaton Fire fines and penalties cannot be passed on to insurers, the Wildfire Fund or customers
“Any fines and penalties incurred in connection with the Eaton Fire will not be recoverable from insurance, from the Wildfire Fund, or through electric rates.”
Late Wildfire Fund payments could squeeze short-term cash
“If reimbursements from the Wildfire Fund for eligible claims related to the Eaton Fire are received later than projected, SCE could experience short‑term liquidity pressure”
Customer-funded self-insurance for the Eaton Fire is used up
“SCE will exhaust self-insurance recoveries available for losses related to the Eaton Fire as a result of costs incurred and settlements entered into as of February 11, 2026.”
The cost recovery test for Eaton has never been used by California regulators
“The CPUC has not applied the California Wildfire Legislation prudency framework to a wildfire cost-recovery proceeding.”
SCE may have to repay the Wildfire Fund up to $4.3 billion, or more if found willfully negligent
“it will be required to reimburse the Initial Account only for amounts disallowed by the CPUC up to the applicable Liability Cap of approximately $4.3 billion”
Biggest risks named
- Eaton Fire liability, lawsuits and criminal investigation
- Denial of wildfire cost recovery by regulators
- Wildfire Fund depletion or exhaustion
- Credit rating downgrades and dependence on capital markets
- Customer rate pressure and adverse regulatory decisions
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | −8 | |
| Red flags | −7.2 | |
| New risks | −2 | |
| Score | 58 | |
Written by AI (Claude Opus 5.5) from the report’s text. 17 of 17 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-Q | Oct 29, 2026 | Pro | |||
| 10-K | Feb 18, 2026 | 58 | Strong improvement | 3 medium | |
| 10-K | Feb 27, 2025 | 55 | Improving | 1 medium | |
| 10-K | Feb 22, 2024 | 46 | Mixed | 2 medium1 minor | |
| 10-K | Feb 23, 2023 | 45 | Mixed | 2 medium | |
| 10-K | Feb 24, 2022 | 54 | Improving | 2 medium1 minor | |
| 10-K | Feb 25, 2021 | 25 | Sharp deterioration | 2 medium1 minor | |
| 10-K | Feb 27, 2020 | 49 | Improving | 3 medium1 minor | |
| 10-K | Feb 28, 2019 | 24 | Sharp deterioration | 3 medium1 minor | |
| 10-K | Feb 22, 2018 | 27 | Sharp deterioration | 4 medium1 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 Q3 FY2026 (period ended Sep 30, 2026), filed Oct 29, 2026. View filings on SEC EDGAR