Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

NRG Energy

NRG stock analysis · Utilities · Independent Power Producers & Energy Traders

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$146.06HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$30.7B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$55.32

Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -62.1% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

30.1%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-39.9%

30 sector peers · median 23.2×

How this is calculated ↗
Valuation

Historical multiples

14.7×

6 annual observations · snapshot P/E 38.5× · 162.2% versus history

How this is calculated ↗
Valuation

Free cash flow yield

2.5%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

11.3%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

21.3%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-3.9%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

1.6%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 2.3B2020-12-31: cfo $1,837,000,000.002020-12-31: capex $230,000,000.0020202021-12-31: cfo $493,000,000.002021-12-31: capex $269,000,000.0020212022-12-31: cfo $360,000,000.002022-12-31: capex $367,000,000.0020222023-12-31: cfo -$221,000,000.00 (negative; lower scale compressed)2023-12-31: capex $598,000,000.0020232024-12-31: cfo $2,306,000,000.002024-12-31: capex $472,000,000.0020242025-12-31: cfo $1,913,000,000.002025-12-31: capex $1,147,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$69.39$75.71$82.51
10.0%$50.85$55.32$60.12
12.0%$40.11$43.53$47.19

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3130.3B864M1.9B1.1B29.1B
2024-12-3127.7B1.1B2.3B472M24B
2023-12-3128.3B-202M-221M598M26B
2022-12-3131.5B1.2B360M367M29.1B
2021-12-3126.8B2.2B493M269M23.2B
2020-12-318.7B510M1.8B230M14.9B
2019-12-318B4.4B1.4B228M12.5B
2018-12-318.1B268M1.4B388M10.6B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue30.3BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-24
netIncome864MProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-24
Parent/common earnings proxy797MNetIncomeLossAvailableToCommonStockholdersBasic2026-02-24
cfo1.9BNetCashProvidedByUsedInOperatingActivities2026-02-24
capex1.1BPaymentsToAcquirePropertyPlantAndEquipment2026-02-24
operatingIncome1.8BOperatingIncomeLoss2026-02-24
assets29.1BAssets2026-02-24
equity1.7BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-24
Parent book equity proxyNot reported under a supported tag
debt16.4BLongTermDebtAndCapitalLeaseObligationsCurrent + LongTermDebtAndCapitalLeaseObligations2026-02-24
shortDebtNot reported under a supported tag
cash4.7BCashAndCashEquivalentsAtCarryingValue2026-02-24
shares199MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-24
dividends411MPaymentsOfDividendsCommonStock2026-02-24
buybacks1.3BPaymentsForRepurchaseOfCommonStock2026-02-24
issuanceNot reported under a supported tag