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Stocks · Utilities · Electric Services

American Electric Power

AEP Clue Score52
United States Fiscal year ends December CIK 0000004904
$122.81 +0.40% Close, 9 Oct 2026
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Price $122.81 +48.84% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue16.38Operating income1.16Net income0.62EPS, diluted1.24Fiscal year 2017Revenue15.42 −5.8%Operating income3.53Net income1.93 +212.1%EPS, diluted3.88 +212.9%Fiscal year 2018Revenue16.20 +5.0%Operating income2.68Net income1.93 +0.1%EPS, diluted3.90 +0.5%Fiscal year 2019Revenue15.56 −3.9%Operating income2.59Net income1.92 −0.6%EPS, diluted3.88 −0.5%Fiscal year 2020Revenue14.92 −4.1%Operating income2.99Net income2.20 +14.4%EPS, diluted4.42 +13.9%Fiscal year 2021Revenue16.79 +12.6%Operating income3.41Net income2.49 +13.3%EPS, diluted4.96 +12.2%Fiscal year 2022Revenue19.39 +15.5%Operating income3.48Net income2.31 −7.3%EPS, diluted4.49 −9.5%Fiscal year 2023Revenue19.46 +0.3%Operating income3.56Net income2.21 −4.0%EPS, diluted4.24 −5.6%Fiscal year 2024Revenue19.97 +2.6%Operating income4.30Net income2.98 +34.5%EPS, diluted5.58 +31.6%Fiscal year 2025Revenue21.70 +8.7%Operating income5.32Net income3.70 +24.2%EPS, diluted6.66 +19.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 16.38 15.42 16.20 15.56 14.92 16.79 19.39 19.46 19.97 21.70
Growth −5.8% +5.0% −3.9% −4.1% +12.6% +15.5% +0.3% +2.6% +8.7%
Operating income 1.16 3.53 2.68 2.59 2.99 3.41 3.48 3.56 4.30 5.32
Net income 0.62 1.93 1.93 1.92 2.20 2.49 2.31 2.21 2.98 3.70
Growth +212.1% +0.1% −0.6% +14.4% +13.3% −7.3% −4.0% +34.5% +24.2%
EPS, diluted 1.24 3.88 3.90 3.88 4.42 4.96 4.49 4.24 5.58 6.66
Growth +212.9% +0.5% −0.5% +13.9% +12.2% −9.5% −5.6% +31.6% +19.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin7.1%Net margin3.8%Free cash flow margin26.9%Fiscal year 2017Operating margin22.9%Net margin12.5%Free cash flow margin27.7%Fiscal year 2018Operating margin16.6%Net margin11.9%Free cash flow margin32.3%Fiscal year 2019Operating margin16.7%Net margin12.3%Free cash flow margin21.5%Fiscal year 2020Operating margin20.0%Net margin14.7%Free cash flow margin25.7%Fiscal year 2021Operating margin20.3%Net margin14.8%Fiscal year 2022Operating margin18.0%Net margin11.9%Fiscal year 2023Operating margin18.3%Net margin11.4%Free cash flow margin25.0%Fiscal year 2024Operating margin21.6%Net margin14.9%Free cash flow margin32.1%Fiscal year 2025Operating margin24.5%Net margin17.0%Free cash flow margin16.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 7.1% 22.9% 16.6% 16.7% 20.0% 20.3% 18.0% 18.3% 21.6% 24.5%
Net margin 3.8% 12.5% 11.9% 12.3% 14.7% 14.8% 11.9% 11.4% 14.9% 17.0%
Free cash flow margin 26.9% 27.7% 32.3% 21.5% 25.7% n/a n/a 25.0% 32.1% 16.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow4.52Capital expenditure−0.11Free cash flow4.41Dividends paid−1.12Fiscal year 2017Operating cash flow4.27Capital expenditure0.00Free cash flow4.27 −3.3%Dividends paid−1.19Fiscal year 2018Operating cash flow5.22Capital expenditure0.00Free cash flow5.22 +22.3%Dividends paid−1.26Fiscal year 2019Operating cash flow4.27Capital expenditure−0.92Free cash flow3.35 −35.8%Dividends paid−1.35Fiscal year 2020Operating cash flow3.83Capital expenditure0.00Free cash flow3.83 +14.4%Dividends paid−1.42Fiscal year 2021Operating cash flow3.84Dividends paid1.52Fiscal year 2022Operating cash flow5.29Dividends paid−1.65Fiscal year 2023Operating cash flow5.01Capital expenditure−0.16Free cash flow4.86Dividends paid−1.75Fiscal year 2024Operating cash flow6.80Capital expenditure−0.40Free cash flow6.41 +31.9%Dividends paid−1.90Fiscal year 2025Operating cash flow6.94Capital expenditure−3.45Free cash flow3.49 −45.5%Dividends paid−2.01
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 4.52 4.27 5.22 4.27 3.83 3.84 5.29 5.01 6.80 6.94
Capital expenditure −0.11 0.00 0.00 −0.92 0.00 n/a n/a −0.16 −0.40 −3.45
Free cash flow 4.41 4.27 5.22 3.35 3.83 n/a n/a 4.86 6.41 3.49
Growth −3.3% +22.3% −35.8% +14.4% +31.9% −45.5%
Dividends paid −1.12 −1.19 −1.26 −1.35 −1.42 1.52 −1.65 −1.75 −1.90 −2.01

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.21Total debt20.26Net cash (debt)−20.05Shareholders’ equity17.40Debt to equity1.16Fiscal year 2017Cash0.21Total debt21.17Net cash (debt)−20.96Shareholders’ equity18.29Debt to equity1.16Fiscal year 2018Cash0.23Total debt23.35Net cash (debt)−23.11Shareholders’ equity19.03Debt to equity1.23Fiscal year 2019Cash0.25Total debt26.73Net cash (debt)−26.48Shareholders’ equity19.63Debt to equity1.36Fiscal year 2020Cash0.39Total debt31.07Net cash (debt)−30.68Shareholders’ equity20.55Debt to equity1.51Fiscal year 2021Cash0.40Total debt33.45Net cash (debt)−33.05Shareholders’ equity22.43Debt to equity1.49Fiscal year 2022Cash0.51Total debt36.80Net cash (debt)−36.29Shareholders’ equity23.89Debt to equity1.54Fiscal year 2023Cash0.33Total debt40.14Net cash (debt)−39.81Shareholders’ equity25.25Debt to equity1.59Fiscal year 2024Cash0.20Total debt42.64Net cash (debt)−42.44Shareholders’ equity26.94Debt to equity1.58Fiscal year 2025Cash0.20Total debt47.32Net cash (debt)−47.13Shareholders’ equity31.14Debt to equity1.52
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.21 0.21 0.23 0.25 0.39 0.40 0.51 0.33 0.20 0.20
Total debt 20.26 21.17 23.35 26.73 31.07 33.45 36.80 40.14 42.64 47.32
Net cash (debt) −20.05 −20.96 −23.11 −26.48 −30.68 −33.05 −36.29 −39.81 −42.44 −47.13
Shareholders’ equity 17.40 18.29 19.03 19.63 20.55 22.43 23.89 25.25 26.94 31.14
Debt to equity 1.16 1.16 1.23 1.36 1.51 1.49 1.54 1.59 1.58 1.52

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
16.38 15.42 16.20 15.56 14.92 16.79 19.39 19.46 19.97 21.70
Growth −5.8% +5.0% −3.9% −4.1% +12.6% +15.5% +0.3% +2.6% +8.7%
1.16 3.53 2.68 2.59 2.99 3.41 3.48 3.56 4.30 5.32
Growth +202.9% −23.9% −3.4% +15.3% +14.2% +2.1% +2.1% +21.0% +23.6%
0.55 2.90 2.04 1.90 2.23 2.60 2.31 2.27 2.94 3.83
−0.07 0.97 0.12 −0.01 0.04 0.12 0.01 0.06 −0.04 0.13
0.62 1.93 1.93 1.92 2.20 2.49 2.31 2.21 2.98 3.70
Growth +212.1% +0.1% −0.6% +14.4% +13.3% −7.3% −4.0% +34.5% +24.2%
Per share
1.24 3.89 3.90 3.89 4.44 4.97 4.51 4.26 5.60 6.70
1.24 3.88 3.90 3.88 4.42 4.96 4.49 4.24 5.58 6.66
Growth +212.9% +0.5% −0.5% +13.9% +12.2% −9.5% −5.6% +31.6% +19.4%
491.5 491.8 492.8 493.7 495.7 500.5 511.8 518.9 530.1 534.5
491.7 492.6 493.8 495.3 497.2 501.8 513.5 520.2 531.3 537.5
Growth +0.2% +0.2% +0.3% +0.4% +0.9% +2.3% +1.3% +2.1% +1.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 7.8% a year over five years, and earnings per share grew 8.5% a year.
  • The diluted share count rose 8.1% in five years, which is dilution.
  • Operating margin is up 4.5 points on five years ago, at 24.5%.
  • Profitable in every one of the 10 years on file.