CONSOLIDATED EDISON INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CONSOLIDATED EDISON INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	12,075	12,033	12,337	12,574	12,246	13,676	15,670	14,663	15,469	17,049
Research and development	24	24	24	24	24	25	27
Operating expenses	9,399	9,260	9,804	9,898	9,592	10,850	13,046	12,332	12,524	13,987
Operating income	2,780	2,774	2,664	2,676	2,654	2,826	2,624	3,196	2,670	2,935
Interest expense	678	729	819	991	1,019	905	852	1,023	1,187	1,233
Other non-operating income	-141	-48	-62	51	-401	-538	326	830	655	895
Pre-tax income	1,943	1,997	1,783	1,736	1,234	1,383	2,098	3,003	2,138	2,597
Income tax	698	472	401	296	90	190	498	487	318	574
Net income to minority interests		0	0	97	43	-153	-60	-3	0	0
Net income	1,245	1,525	1,382	1,343	1,101	1,346	1,660	2,519	1,820	2,023
EBITDA	3,996	4,115	4,102	4,360	4,574	4,858	4,680	5,227	4,825	5,256
EPS, basic	4.15	4.97	4.43	4.09	3.29	3.86	4.68	7.25	5.26	5.66
EPS, diluted	4.12	4.94	4.42	4.08	3.28	3.85	4.66	7.21	5.24	5.64
Shares, basic (weighted)	300	307	312	329	335	348	355	348	346	357
Shares, diluted (weighted)	302	309	313	330	336	349	356	349	347	359
Dividend per share	2.68	2.76	2.86	2.96	3.06	3.10	3.16	3.24	3.32

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	776	797	895	981	1,272	992	1,282	1,189	1,324	1,629
Receivables	1,106	1,103	1,267	1,236	1,701	1,943	2,192	2,418	2,440	2,583
Other current assets	151	177	122	200	231	233	176	125	194	161
Total current assets	3,406	3,537	3,864	4,272	5,301	5,551	12,972	6,537	6,664	6,750
Property, plant and equipment	35,216	37,600	41,749	43,889	46,555	48,596	46,766	49,608	52,165	55,403
Lease right-of-use assets			0	857	837	809	568	533	493	489
Goodwill	428	428	440	446	446	439	408	408	408	406
Intangible assets	124	131	1,654	1,557	1,460	1,293	0
Long-term investments	1,921	2,001	1,766	2,065	1,816	853	841	999	1,126	1,213
Other non-current assets	7,712	4,973	6,541	7,853	9,223	8,116	8,486	9,187	10,607	11,237
Total assets	48,255	48,111	53,920	58,079	62,895	63,116	69,065	66,331	70,562	74,603
Accounts payable	1,147	1,286	1,187	1,164	1,475	1,497	1,955	1,775	1,676	1,947
Accrued liabilities	101	105	109	102	108	113	116	125	127	140
Short-term debt	39	1,298	650	1,446	1,967	440	1,002	251	0	250
Total current liabilities	3,843	4,902	6,207	6,287	7,354	5,427	11,336	6,462	6,433	6,614
Long-term debt	14,735	14,731	17,495	18,527	20,382	22,604	22,439	21,989	24,710	25,551
Lease liabilities			0	809	764	717	476	429	386	377
Total liabilities	33,949	32,686	37,081	39,866	43,830	42,780	48,176	45,173	48,600	50,413
Total debt	14,774	16,029	18,145	19,973	22,349	23,044	23,441	22,240	24,710	25,801
Paid-in capital									9,986	11,436
Retained earnings									14,048	14,857
Treasury stock									-2,017	-2,017
Other comprehensive income	-27	-26	-16	-19	-25	5	22	22	29	15
Shareholders' equity	14,298	15,418	16,726	18,022	18,847	20,037	20,687	21,158	21,962	24,190
Minority interests	8	7	113	191	218	299	202	0
Total equity	14,306	15,425	16,839	18,213	19,065	20,336	20,889	21,158	21,962	24,190
Total liabilities and equity	48,255	48,111	53,920	58,079	62,895	63,116	69,065	66,331	70,562	74,603
Shares outstanding			321	333	342	354	355	345	347	361

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1,245	1,525	1,382	1,440	1,144	1,193	1,600	2,516	1,820	2,023
Depreciation and amortization	1,216	1,341	1,438	1,684	1,920	2,032	2,056	2,031	2,155	2,321
Stock-based compensation	50	63	14	47	17	35	64	53	35	55
Deferred income tax	783	485	408	308	85	133	435	132	416	590
Change in receivables	-69	9	-140	23	-543	-411	-296	-275	-263	-30
Change in inventory	13	5	-20	6	-4	-82	-111	38	-16
Change in payables	29	95	-46	10	170	44	558	-285	-1	161
Cash from operations	3,459	3,367	2,695	3,134	2,198	2,733	3,935	2,156	3,614	4,800
Capital expenditures	-5,235	-3,606	-5,249	-3,676	-4,085	-3,964	-4,465
Acquisitions	0	0	-1,488	0	0
Cash from investing	-4,950	-3,710	-5,471	-3,782	-4,224	-3,484	-4,565	-1,003	-5,273	-5,249
Debt issued	2,590	1,697	3,030	3,017	2,925	2,804	800	2,050	2,975	1,150
Debt repaid	-735	-434	-1,938	-1,195	-518	-1,960	-406	-710	-477	0
Stock issued	702	343	705	825	640	775	0	0
Share buybacks						0	0	-1,000	0	0
Dividends paid	-763	-803	-842	-924	-975	-1,030	-1,089	-1,096	-1,100	-1,166
Cash from financing	1,345	357	2,938	859	2,245	461	1,014	-1,488	1,797	746
Net change in cash	-146	14	162	211	219	-290	384	-335	138	297
Free cash flow	-1,776	-239	-2,554	-542	-1,887	-1,231	-530
Interest paid	664	725	805	876	920	924	900	987	1,072	1,147
Income taxes paid	-180	-29	0	-26	38	9	47	397	7	-165

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $103.10 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	17.2%	Operating income / revenue.
EBITDA margin	30.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	16.0%	Pre-tax income / revenue.
Net margin	12.4%	Net income / revenue.
Operating cash flow margin	23.8%	Cash from operations / revenue.
Effective tax rate	22.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.9%	Net income / average total assets.
Return on invested capital (ROIC)	9.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
D&A / revenue	13.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	9.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	3.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	2.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	8.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	3.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	2.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	11.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	12.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	7.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	6.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	11.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	32.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	10.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	3.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.19x	Current assets / current liabilities.
Quick ratio	0.56x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.03x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	65.8%	Total liabilities / total assets.
Interest coverage	2.43x	Operating income / interest expense.
Working capital	$1.00B	Current assets - current liabilities.
Goodwill and intangibles / assets	0.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$25.19B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.23x	Revenue / average total assets.
Fixed asset turnover	0.31x	Revenue / average property, plant and equipment.
Receivables turnover	6.18x	Revenue / average receivables.
Days sales outstanding	59 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.92	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$47.73	Revenue / diluted weighted shares.
Operating cash flow per share	$11.35	Cash from operations / diluted weighted shares.
Book value per share	$70.24	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$69.13	Tangible book value / shares outstanding.
Cash per share	$0.40	(Cash + short-term investments) / shares outstanding.
Payout ratio	55.3%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$38.13B	Share price x shares outstanding.
Enterprise value	$37.98B	Market cap + total debt - cash - short-term investments.
P/E	17.7x	Market cap / net income. Only when net income is positive.
P/S	2.19x	Market cap / revenue.
P/B	1.49x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.51x	Market cap / tangible book value, when positive.
P/OCF	9.22x	Market cap / cash from operations, when positive.
EV/Sales	2.18x	Enterprise value / revenue.
EV/EBIT	12.7x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.14x	Enterprise value / EBITDA, when both are positive.
Earnings yield	5.7%	Net income / market cap (the inverse of P/E).
Dividend yield	3.1%	Dividends paid over the period / market cap.
Shareholder yield	3.1%	(Dividends paid + share buybacks) / market cap.
PEG	2.69x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was CONSOLIDATED EDISON INC's revenue in fiscal 2025?

CONSOLIDATED EDISON INC reported revenue of $17.05B for fiscal 2025, 10.2% higher than the year before.

Was CONSOLIDATED EDISON INC profitable in fiscal 2025?

Yes. Net income was $2.02B, a net margin of 11.9%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to CONSOLIDATED EDISON INC