Entergy vs FirstEnergy
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The short version
- FirstEnergy is the larger business, with $15.1B of revenue in fiscal 2025 against $12.9B for Entergy.
- FirstEnergy grew revenue faster (12.0%, against 9.0%).
- Entergy kept more of each dollar of sales as operating profit (24.7% operating margin, against 14.6%).
- FirstEnergy turned more of its sales into free cash flow (−6.7% FCF margin, against −19.6%).
- Entergy earned a higher return on the capital invested in it (5.6%, against 4.6%).
- Investors pay more for each dollar of Entergy’s earnings: a P/E of 27.4x against 25.2x for FirstEnergy.
| Latest fiscal year | ETR · FY25 | FE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $49.6B | $26.8B |
| Revenue | $12.9B | $15.1B |
| Free cash flow | −$2.5B | −$1.0B |
| Net income | $1.8B | $1.0B |
| Growth | ||
| Revenue growth | 9.0% | 12.0% |
| 5-year growth | 5.1% | 6.9% |
| Share count change | 4.3% | 0.2% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 24.7% | 14.6% |
| Net margin | 13.7% | 6.8% |
| FCF margin | −19.6% | −6.7% |
| Return on capital | 5.6% | 4.6% |
| Return on equity | 11.1% | 8.2% |
| Balance sheet | ||
| Net debt | $29.1B | $26.5B |
| Net debt / EBITDA | 5.3x | 6.9x |
| Dividends and buybacks | $1.1B | $1.0B |
| Valuation & quality | ||
| P/E | 27.4x | 25.2x |
| Piotroski F-score | 7 | 5 |
Revenue
FY16
ETR $10.8B
FE $10.7B
FY17
ETR $11.1B
FE $10.9B
FY18
ETR $11.0B
FE $11.3B
FY19
ETR $10.9B
FE $11.0B
FY20
ETR $10.1B
FE $10.8B
FY21
ETR $11.7B
FE $11.1B
FY22
ETR $13.8B
FE $12.5B
FY23
ETR $12.1B
FE $12.9B
FY24
ETR $11.9B
FE $13.5B
FY25
ETR $12.9B
FE $15.1B
ETR
FE
Operating margin
FY16
ETR −7.5%
FE 19.2%
FY17
ETR 12.3%
FE 22.2%
FY18
ETR 4.3%
FE 22.2%
FY19
ETR 12.8%
FE 22.8%
FY20
ETR 17.5%
FE 20.0%
FY21
ETR 15.7%
FE 15.5%
FY22
ETR 14.9%
FE 15.3%
FY23
ETR 21.6%
FE 17.6%
FY24
ETR 22.3%
FE 17.6%
FY25
ETR 24.7%
FE 14.6%
ETR
FE
Free cash flow
FY16
ETR $218M
FE $548M
FY17
ETR −$984M
FE $1.2B
FY18
ETR −$1.6B
FE −$1.3B
FY19
ETR −$1.4B
FE −$198M
FY20
ETR $2.4B
FE −$1.2B
FY21
ETR $2.1B
FE $324M
FY22
ETR −$2.5B
FE −$165M
FY23
ETR −$146M
FE −$2.0B
FY24
ETR −$350M
FE −$1.1B
FY25
ETR −$2.5B
FE −$1.0B
ETR
FE
Return on capital
FY16
ETR −3.0%
FE 3.3%
FY17
ETR 3.0%
FE 4.7%
FY18
ETR 1.5%
FE 8.0%
FY19
ETR 5.0%
FE 8.7%
FY20
ETR 5.6%
FE 6.7%
FY21
ETR 4.4%
FE 4.5%
FY22
ETR 5.3%
FE 3.0%
FY23
ETR 6.5%
FE 5.5%
FY24
ETR 4.6%
FE 4.9%
FY25
ETR 5.6%
FE 4.6%
ETR
FE
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.