OGE ENERGY CORP. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data OGE ENERGY CORP. 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	2,259	2,261	2,270	2,232	2,122	3,654	3,376	2,674	2,985	3,260
Cost of revenue	880	898	893	787	645	2,128	1,662	912	1,076	1,260
Gross profit	1,379	1,364	1,378	1,445	1,478	1,526	1,713	1,763	1,909	2,000
Selling, general and administrative						139	136	148
Operating expenses	848	832	888	940	956	982	1,064	1,112	1,164	1,201
Operating income	531	532	490	504	522	544	650	650	745	799
Interest expense	142	144	156	148	159	158	166	221	255	270
Other non-operating income	97.6	182	164	107	-665	493	306	44.2	29.8	31.4
Pre-tax income	486	570	498	463	-301	879	789	473	521	561
Income tax	148	-49.3	72.2	29.8	-127	141	124	56.2	79.1	89.8
Net income	338	619	426	434	-174	737	666	417	442	471
EBITDA	853	815	811	859	914	960	1,110	1,157	1,285	1,359
EPS, basic	1.69	3.10	2.13	2.17	-0.87	3.68	3.33	2.08	2.20	2.33
EPS, diluted	1.69	3.10	2.12	2.16	-0.87	3.68	3.32	2.07	2.19	2.32
Shares, basic (weighted)	200	200	200	200	200	200	200	200	201	202
Shares, diluted (weighted)	200	200	201	201	200	200	201	201	201	203
Dividend per share	1.16	1.27	1.40	1.51	1.58	1.63	1.65	1.66	1.68	1.69

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.3	14.4	94.3	0	1.1	0	88.1	0.2	0.6	0.2
Receivables	173	191	175	154	158	162	250	209	241	348
Inventory	79.8	84.3	57.6	46.3	36.5	40.6	109	159	148	112
Other current assets	81.8	54.6	29.5	24.4	41.2	73.3	104	58.8	88.9	71.7
Total current assets	550	497	557	430	429	614	1,341	772	895	858
Property, plant and equipment	7,696	8,340	8,644	9,045	9,375	9,833	10,547	11,301	12,087	12,730
Lease right-of-use assets				40.9	37.6	33	30.2	25.9	28.3
Other non-current assets	462	339	297	315	432	1,255	551	604	610	653
Total assets	9,940	10,413	10,749	11,024	10,719	12,606	12,545	12,791	13,716	14,371
Accounts payable	205	230	239	195	252	274	449	276	306	351
Accrued liabilities	45.1	35.9	47.8	40.6	31.1	37.7	37	46.8	53	54.3
Deferred revenue						81.1	88.8	104	111	127
Short-term debt	225	250	250	0	0	0	1,000	0	32.4	0
Total current liabilities	1,027	951	869	658	697	1,090	1,802	1,179	1,230	1,094
Long-term debt	2,406	2,750	2,897	3,195	3,494	4,496	3,549	4,341	5,021	5,369
Other non-current liabilities	154	158	163	200	195	227	211	213	255	309
Total liabilities	6,496	6,562	6,744	6,885	7,087	8,550	8,131	8,279	9,075	9,393
Total debt	2,631	2,999	3,147	3,195	3,494	4,496	4,549	4,341	5,053	5,369
Paid-in capital	1,106	1,115	1,128	1,131	1,125	1,126	1,135	1,145	1,168	1,378
Retained earnings	2,367	2,760	2,906	3,036	2,545	2,955	3,291	3,374	3,476	3,602
Treasury stock				0	-5.3	-0.1	-0.1	0
Other comprehensive income	-29.3	-23.2	-28.9	-27.9	-32.1	-24.8	-11.9	-7.2	-2.7	-2.6
Shareholders' equity	3,444	3,851	4,005	4,140	3,632	4,056	4,413	4,512	4,641	4,977
Total equity	3,444	3,851	4,005	4,140	3,632	4,056	4,413	4,512	4,641	4,977
Total liabilities and equity	9,940	10,413	10,749	11,024	10,719	12,606	12,545	12,791	13,716	14,371
Shares outstanding	200	200	200	200	200	200	200	200	201	206

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	338	619	426	434	-174	737	666	417	442	471
Depreciation and amortization	323	284	322	355	391	416	461	507	540	560
Stock-based compensation	4.7	9.1	13.4	13.9	9.8	9.8	9.7	13.1	11.7	14
Deferred income tax	154	-49.9	78.4	31.1	-136	123	-156	12.3	16.3	60.2
Change in receivables	-6.9	-21.8	19.8	18.8	3.1	-1.9	-97	42.8	-33.6	-109
Change in inventory	32.4	-3.6	27.3	4.2	-8.9	-3.4	-130	-123	25.7	81.9
Change in payables	-45.1	27.1	29.7	-34.5	59.8	7.5	155	-136	-14.7	34.9
Cash from operations	645	785	951	682	713	-230	952	1,232	813	1,137
Capital expenditures	-660	-824	-574	-636	-651	-779	-1,051	-1,178	-1,091	-1,054
Cash from investing	-620	-822	-576	-625	-655	-833	-96.4	-1,272	-1,161	-1,127
Debt issued	0	592	396	297	297	998	49.3	788	706	344
Debt repaid	-110	-225	-250	-250	-0.1	-0.1	-0.1	-1,000	-0.1	-32.6
Stock issued	0	-0.1	-0.1				0	0	17.1	204
Share buybacks			0	0	-14.7	0	0
Dividends paid	-225	-248	-272	-299	-315	-325	-329	-333	-339	-342
Cash from financing	-99.2	51.5	-295	-151	-56.8	1,061	-768	-48.1	349	-10.9
Net change in cash	-74.9	14.1	79.9	-94.3	1.1	-1.1	88.1	-87.9	0.4	-0.4
Free cash flow	-15.4	-39.6	378	46	62.3	-1,008	-98.5	54.1	-278	82.7
Interest paid	142	140	154	152	153	156	164	202	251	269
Income taxes paid	-5.9	-16	2.8	5.5	3.9	8.7	276	41.5	36.9

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 $44.81 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	61.0%	Gross profit / revenue.
Operating margin	23.9%	Operating income / revenue.
EBITDA margin	41.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	16.8%	Pre-tax income / revenue.
Net margin	14.0%	Net income / revenue.
FCF margin	6.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	39.7%	Cash from operations / revenue.
Effective tax rate	16.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.2%	Net income / average total assets.
Return on invested capital (ROIC)	6.3%	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%.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	32.8%	Capital expenditures / revenue.
D&A / revenue	17.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	5.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	7.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	7.2%	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	8.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	5.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	7.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	8.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	6.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-10.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	5.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-11.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	39.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.1%	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	9.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	5.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	1.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	7.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.1%	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	6.5%	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	4.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.6%	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	6.0%	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	0.6%	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	0.2%	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	0.66x	Current assets / current liabilities.
Quick ratio	0.25x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.00x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.09x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	37.1%	Total debt / total assets.
Liabilities / assets	65.9%	Total liabilities / total assets.
Net debt	$5.37B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.01x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.96x	Operating income / interest expense.
Working capital	-$423.4M	Current assets - current liabilities.
Tangible book value	$4.94B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.23x	Revenue / average total assets.
Fixed asset turnover	0.25x	Revenue / average property, plant and equipment.
Inventory turnover	11.7x	Cost of revenue / average inventory.
Days inventory	31 days	365 x average inventory / cost of revenue.
Receivables turnover	10.7x	Revenue / average receivables.
Days sales outstanding	34 days	365 x average receivables / revenue.
Days payables	81 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-16 days	Days inventory + days sales outstanding - days payables.
FCF conversion	49.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	82.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.21	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	$15.76	Revenue / diluted weighted shares.
FCF per share	$1.09	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.26	Cash from operations / diluted weighted shares.
Book value per share	$23.84	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$23.84	Tangible book value / shares outstanding.
Cash per share	$0.00	(Cash + short-term investments) / shares outstanding.
Payout ratio	75.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	153.1%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$9.26B	Share price x shares outstanding.
Enterprise value	$14.63B	Market cap + total debt - cash - short-term investments.
P/E	20.2x	Market cap / net income. Only when net income is positive.
P/S	2.84x	Market cap / revenue.
P/B	1.87x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.87x	Market cap / tangible book value, when positive.
P/FCF	41.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.14x	Market cap / cash from operations, when positive.
EV/Sales	4.48x	Enterprise value / revenue.
EV/EBIT	18.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	65.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.4%	Free cash flow / market cap.
Earnings yield	4.9%	Net income / market cap (the inverse of P/E).
Dividend yield	3.7%	Dividends paid over the period / market cap.
Shareholder yield	3.7%	(Dividends paid + share buybacks) / market cap.

What was OGE ENERGY CORP.'s revenue in fiscal 2025?

OGE ENERGY CORP. reported revenue of $3.26B for fiscal 2025, 9.2% higher than the year before.

Was OGE ENERGY CORP. profitable in fiscal 2025?

Yes. Net income was $470.7M, a net margin of 14.4%.

How much free cash flow did OGE ENERGY CORP. generate in fiscal 2025?

Cash from operations of $1.14B minus capital expenditures of $1.05B left free cash flow of $82.7M.

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.

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