Ameren vs Sempra
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KIRAβs take AI analyst
I put Ameren and Sempra side by side, using each oneβs latest annual report. Here is what stands out:
- Sempra is the larger business, with $13.7B of revenue in fiscal 2025 against $8.8B for Ameren, about 1.6 times as much.
- Ameren grew revenue faster (15.4%, against 3.9%).
- Ameren turned more of its sales into free cash flow (β8.8% FCF margin, against β44.1%).
- Ameren earned a higher return on the capital invested in it (5.7%, against 2.8%).
- Investors pay more for each dollar of Sempraβs earnings: a P/E of 28.6x against 19.0x for Ameren.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Ameren
AEE
9/9
Revenue growth5-year growthNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Sempra
SRE
0/9
Side by side
Best in the row
| Latest fiscal year | AEE FY25 | SRE FY25 |
|---|---|---|
| Size | ||
| Market cap | $30.1B | $55.2B |
| Revenue | $8.8B | $13.7B |
| Free cash flow | β$775M | β$6.0B |
| Net income | $1.5B | $1.8B |
| Growth | ||
| Revenue growth | 15.4% | 3.9% |
| 5-year growth | 8.7% | 3.8% |
| Share count change | 1.8% | 2.5% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | 23.0% | β |
| Net margin | 16.6% | 13.4% |
| FCF margin | β8.8% | β44.1% |
| Return on capital | 5.7% | 2.8% |
| Return on equity | 11.5% | 5.9% |
| Balance sheet | ||
| Net debt | $20.1B | $35.0B |
| Net debt / EBITDA | 5.5x | 6.0x |
| Dividends and buybacks | $768M | $1.7B |
| Valuation & quality | ||
| P/E | 19.0x | 28.6x |
| Piotroski F-score | 6 | 5 |
Ten years
Revenue
FY16
AEE $6.1B
SRE $10.2B
FY17
AEE $6.2B
SRE $9.6B
FY18
AEE $6.3B
SRE $10.1B
FY19
AEE $5.9B
SRE $10.8B
FY20
AEE $5.8B
SRE $11.4B
FY21
AEE $6.4B
SRE $12.9B
FY22
AEE $8.0B
SRE $14.4B
FY23
AEE $7.5B
SRE $16.7B
FY24
AEE $7.6B
SRE $13.2B
FY25
AEE $8.8B
SRE $13.7B
AEE
SRE
Operating margin
FY16
AEE 21.8%
SRE β
FY17
AEE 22.8%
SRE β
FY18
AEE 21.6%
SRE β
FY19
AEE 21.4%
SRE β
FY20
AEE 22.4%
SRE β
FY21
AEE 20.9%
SRE β
FY22
AEE 19.0%
SRE β
FY23
AEE 20.8%
SRE β
FY24
AEE 19.9%
SRE β
FY25
AEE 23.0%
SRE β
AEE
SRE
Free cash flow
FY16
AEE $41.0M
SRE β$1.9B
FY17
AEE β$14.0M
SRE β$80.0M
FY18
AEE β$116M
SRE β$28.0M
FY19
AEE β$241M
SRE β$620M
FY20
AEE β$1.5B
SRE β$2.1B
FY21
AEE β$1.8B
SRE β$1.2B
FY22
AEE β$1.1B
SRE β$4.2B
FY23
AEE β$1.0B
SRE β$2.2B
FY24
AEE β$1.6B
SRE β$3.3B
FY25
AEE β$775M
SRE β$6.0B
AEE
SRE
Return on capital
FY16
AEE 5.7%
SRE 6.4%
FY17
AEE 4.6%
SRE 2.9%
FY18
AEE 6.5%
SRE 3.5%
FY19
AEE 6.0%
SRE 5.1%
FY20
AEE 5.7%
SRE 5.2%
FY21
AEE 5.2%
SRE 3.6%
FY22
AEE 5.3%
SRE 4.1%
FY23
AEE 5.0%
SRE 6.4%
FY24
AEE 4.8%
SRE 5.1%
FY25
AEE 5.7%
SRE 2.8%
AEE
SRE
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.