NASDAQ: EVRG
Evergy
Utilities · Electric & Other Services Combined
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 Mar 31, 2026. Hover or tap a column for another year.$18.9B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $8.03B |
| FY2017, ended Dec 31, 2017 | $7.53B |
| FY2018, ended Dec 31, 2018 | $14.5B |
| FY2019, ended Dec 31, 2019 | $14.8B |
| FY2020, ended Dec 31, 2020 | $12.6B |
| FY2021, ended Dec 31, 2021 | $15.7B |
| FY2022, ended Dec 31, 2022 | $14.4B |
| FY2023, ended Dec 31, 2023 | $12.0B |
| FY2024, ended Dec 31, 2024 | $14.2B |
| FY2025, ended Dec 31, 2025 | $16.7B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $18.9B |
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.$6.03B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.56B |
| FY2017, ended Dec 31, 2017 | $2.57B |
| FY2018, ended Dec 31, 2018 | $4.28B |
| FY2019, ended Dec 31, 2019 | $5.15B |
| FY2020, ended Dec 31, 2020 | $4.91B |
| FY2021, ended Dec 31, 2021 | $5.59B |
| FY2022, ended Dec 31, 2022 | $5.86B |
| FY2023, ended Dec 31, 2023 | $5.51B |
| FY2024, ended Dec 31, 2024 | $5.85B |
| FY2025, ended Dec 31, 2025 | $5.96B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $6.03B |
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 | $347M | −$283M |
| FY2017, ended Dec 31, 2017 | $324M | $148M |
| FY2018, ended Dec 31, 2018 | $536M | $428M |
| FY2019, ended Dec 31, 2019 | $670M | $539M |
| FY2020, ended Dec 31, 2020 | $618M | $194M |
| FY2021, ended Dec 31, 2021 | $880M | −$621M |
| FY2022, ended Dec 31, 2022 | $753M | −$365M |
| FY2023, ended Dec 31, 2023 | $731M | −$354M |
| FY2024, ended Dec 31, 2024 | $874M | −$353M |
| FY2025, ended Dec 31, 2025 | $856M | −$752M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $882M | −$1.10B |
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.$18.4M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $3.20M |
| FY2017, ended Dec 31, 2017 | $3.40M |
| FY2018, ended Dec 31, 2018 | $160M |
| FY2019, ended Dec 31, 2019 | $23.2M |
| FY2020, ended Dec 31, 2020 | $145M |
| FY2021, ended Dec 31, 2021 | $26.2M |
| FY2022, ended Dec 31, 2022 | $25.2M |
| FY2023, ended Dec 31, 2023 | $27.7M |
| FY2024, ended Dec 31, 2024 | $22.0M |
| FY2025, ended Dec 31, 2025 | $19.8M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $18.4M |
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.$15.5B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | — |
| FY2017, ended Dec 31, 2017 | $3.69B |
| FY2018, ended Dec 31, 2018 | $7.34B |
| FY2019, ended Dec 31, 2019 | $9.00B |
| FY2020, ended Dec 31, 2020 | $9.63B |
| FY2021, ended Dec 31, 2021 | $9.69B |
| FY2022, ended Dec 31, 2022 | $10.3B |
| FY2023, ended Dec 31, 2023 | $12.8B |
| FY2024, ended Dec 31, 2024 | $13.7B |
| FY2025, ended Dec 31, 2025 | $14.8B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $15.5B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 61.8% since 2016.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.231M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 143M |
| FY2017, ended Dec 31, 2017 | 143M |
| FY2018, ended Dec 31, 2018 | 255M |
| FY2019, ended Dec 31, 2019 | 227M |
| FY2020, ended Dec 31, 2020 | 227M |
| FY2021, ended Dec 31, 2021 | 229M |
| FY2022, ended Dec 31, 2022 | 230M |
| FY2023, ended Dec 31, 2023 | 230M |
| FY2024, ended Dec 31, 2024 | 230M |
| FY2025, ended Dec 31, 2025 | 230M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | 231M |
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: $23.3M more issued than bought back
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| Period | Bought back | Paid to employees | Sold for cash | Used in acquisitions |
|---|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $0 | $9.30M | — | — |
| FY2017, ended Dec 31, 2017 | $0 | $8.80M | — | $600K |
| FY2018, ended Dec 31, 2018 | $1.04B | $29.9M | — | $6.98B |
| FY2019, ended Dec 31, 2019 | $1.63B | $16.3M | $0 | — |
| FY2020, ended Dec 31, 2020 | $0 | $16.0M | $0 | — |
| FY2021, ended Dec 31, 2021 | $0 | $15.6M | $113M | — |
| FY2022, ended Dec 31, 2022 | — | $18.8M | $0 | — |
| FY2023, ended Dec 31, 2023 | — | $17.7M | $0 | — |
| FY2024, ended Dec 31, 2024 | — | $15.2M | $0 | — |
| FY2025, ended Dec 31, 2025 | — | $20.7M | $1.10M | — |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | — | $21.8M | $1.50M | — |
Revenue (TTM)
$6.03B
+2.4% YoY
Net income (TTM)
$882M
+0.7% YoY
Cash
$18.4M
−47.9% YoY
Total debt
$15.5B
+10.5% YoY
Valuation
At current price- Market Cap
- $19.8B
- P/E
- 22.5×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 3.3×
- Price / Book
- 2.0×
- EV / EBITDA
- 12.9×
Growth
Trailing 12 months- Revenue (TTM)
- $6.03B
- Revenue Growth YoY
- 2.4%
- Revenue CAGR 3Y
- 0.6%
- Revenue CAGR 5Y
- 3.9%
- EPS Growth YoY
- −1.1%
- Net Income Growth YoY
- 0.7%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 25.9%
- Net Margin
- 14.6%
- FCF Margin
- −18.2%
- Return on Equity
- 8.8%
Earnings
Trailing 12 months- Net Income
- $882M
- EPS (diluted)
- $3.76
- EBITDA
- $2.74B
- Operating Income
- $1.56B
Balance Sheet
As of Mar 31, 2026- Cash and cash equivalents
- $18.4M
- Total Debt
- $15.5B
- Net Debt
- $15.5B
- Total Assets
- $34.5B
- Total Liabilities
- $24.3B
- Shareholders' Equity
- $10.2B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.96B
- Capital Expenditure
- $3.06B
- Free Cash Flow
- −$1.10B
Dividends and risk
Last 12 months- Dividend Yield
- 3.2%
- Dividend / Share
- $2.78
- Beta (5Y)
- 0.50
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $6.03B.
Strength
Keeps 25.9% of revenue as operating profit.
Watch
Net debt is 5.6× EBITDA ($15.5B), a heavy load.
Watch
Free cash flow was negative (−$1.10B) over the last year.
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-K69Mildly positive
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 27, 2025 · Read the filing on EDGAR
- Revenue rose about 6% to $5,847.3 million and net income rose about 19% to $873.5 million, helped by new Kansas rates.
- Part of the profit gain reflects a $96.5 million customer refund charge in 2023 that did not repeat; adjusted earnings rose about 8%.
- Evergy plans $17.5 billion of capital spending through 2029, including new gas and solar plants, funded partly by $9.7 billion of debt and $2.8 billion of equity-type securities.
- A new Kansas law lets Evergy defer and later seek recovery of most plant costs, and Missouri West won a $55 million rate increase.
Business momentum
Improving
“Net income attributable to Evergy, Inc. increased in 2024, compared to the same period in 2023, primarily due to new Evergy Kansas Central retail rates effective in December 2023”
Outlook
Positive
“targeting approximately $17.5 billion of expected base capital investments through 2029 including new generation of approximately $6.2 billion which is expected to be primarily renewable and natural gas generation that will help enable historic economic development opportunities”
Financial stress
Low
“Evergy believes that its existing cash on hand and available borrowing capacity under its master credit facility provide sufficient liquidity for its existing capital requirements.”
Tone against the previous report
More positive
Red flags
None found in this report.
Positives
New Kansas rates lifted margins
“a $119.6 million net increase from new retail rates in Kansas effective in December 2023 consisting of $141.8 million from higher Evergy Kansas Central retail rates, partially offset by $22.2 million from lower Evergy Metro retail rates”
Missouri West won a rate increase, effective January 2025
“The partial stipulation and agreement provided for an increase to Evergy Missouri West's retail revenues of approximately $55 million”
Kansas law allows deferral of most new plant costs for later recovery
“Evergy Kansas Central and Evergy Metro elected the PISA provision in their Kansas jurisdictions effective in July 2024.”
Concerns
Heavy reliance on future debt issuance, including refinancing
“Evergy expects to issue approximately $9.7 billion of securities through debt capital markets between 2025 and 2029, subject to market conditions, which includes refinancing $3.9 billion of long-term debt maturities.”
Planned equity-type issuance could dilute shareholders
“Evergy expects to issue $2.8 billion of equity and equity-like securities between 2026 and 2029, subject to market conditions.”
Profit growth was partly a one-off comparison, not sales growth
“a $96.5 million increase due to the third quarter 2023 recognition of a regulatory liability at Evergy Kansas Central for the refund to customers of revenues previously collected from customers related to COLI rate credits”
New risks since the previous report
Gas plant equipment bought before regulators approved the projects, with cancellation penalties possible
“The Evergy Companies entered into the equipment purchase ahead of regulatory approval in an attempt to adhere to project timelines and the expected completion dates.”
Reliance on one supplier for key gas plant equipment could delay projects
“The Evergy Companies have selected a single vendor to supply the power island equipment to its new natural gas plants.”
Tariffs on imported goods could raise equipment and material costs
“The current presidential administration has implemented tariffs on certain imported goods and may impose additional tariffs.”
Kansas cost deferral law caps how much can be recovered as spending grows
“However, Evergy Kansas Central and Evergy Metro will be unable to recover deferred amounts to the extent that inclusion of the incremental regulatory asset created by PISA causes base rates to increase more than 1.5% per year.”
Dividends must stop if Evergy defers interest on its new junior notes
“Additionally, Evergy may not declare or pay any cash dividend or distribution on its capital stock during any period in which Evergy defers interest on its junior subordinated notes that were issued in December 2024.”
Biggest risks named
- Regulators may disallow costs or limit rate increases and returns
- Capital project cost overruns, delays, tariffs and supply chain problems
- Credit rating downgrades and dependence on debt and equity markets
- Environmental rules, coal ash costs and stranded coal plant investments
- Extreme weather, wildfires, climate change and uncertain electricity demand growth
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | +3 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 69 | |
Written by AI (Claude Opus 5.5) from the report’s text. 14 of 14 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 27, 2025 | 69 | Improving | None | |
| 10-K | Feb 29, 2024 | 52 | Mixed | 1 medium2 minor | |
| 10-K | Feb 24, 2023 | 50 | Mixed | 1 medium1 minor | |
| 10-K | Feb 25, 2022 | 71 | Strong improvement | 1 minor | |
| 10-K | Feb 26, 2021 | 50 | Weakening | 1 medium | |
| 10-K | Mar 2, 2020 | 65 | Improving | None | |
| 10-K | Feb 22, 2019 | 75 | Strong improvement | None |
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