Edison International vs FirstEnergy
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The short version
- Edison International is the larger business, with $19.3B of revenue in fiscal 2025 against $15.1B for FirstEnergy.
- FirstEnergy grew revenue faster (12.0%, against 9.8%).
- Edison International kept more of each dollar of sales as operating profit (36.7% operating margin, against 14.6%).
- Edison International turned more of its sales into free cash flow (−3.7% FCF margin, against −6.7%).
- Edison International earned a higher return on the capital invested in it (9.8%, against 4.6%).
- Investors pay more for each dollar of FirstEnergy’s earnings: a P/E of 25.2x against 6.2x for Edison International.
| Latest fiscal year | EIX · FY25 | FE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $22.2B | $26.8B |
| Revenue | $19.3B | $15.1B |
| Free cash flow | −$715M | −$1.0B |
| Net income | $4.5B | $1.0B |
| Growth | ||
| Revenue growth | 9.8% | 12.0% |
| 5-year growth | 7.3% | 6.9% |
| Share count change | −0.5% | 0.2% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 36.7% | 14.6% |
| Net margin | 23.1% | 6.8% |
| FCF margin | −3.7% | −6.7% |
| Return on capital | 9.8% | 4.6% |
| Return on equity | 26.9% | 8.2% |
| Balance sheet | ||
| Net debt | $40.2B | $26.5B |
| Net debt / EBITDA | 3.9x | 6.9x |
| Dividends and buybacks | $1.3B | $1.0B |
| Valuation & quality | ||
| P/E | 6.2x | 25.2x |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
EIX $11.9B
FE $10.7B
FY17
EIX $12.3B
FE $10.9B
FY18
EIX $12.7B
FE $11.3B
FY19
EIX $12.3B
FE $11.0B
FY20
EIX $13.6B
FE $10.8B
FY21
EIX $14.9B
FE $11.1B
FY22
EIX $17.2B
FE $12.5B
FY23
EIX $16.3B
FE $12.9B
FY24
EIX $17.6B
FE $13.5B
FY25
EIX $19.3B
FE $15.1B
EIX
FE
Operating margin
FY16
EIX 17.4%
FE 19.2%
FY17
EIX 11.8%
FE 22.2%
FY18
EIX −4.4%
FE 22.2%
FY19
EIX 14.4%
FE 22.8%
FY20
EIX 9.0%
FE 20.0%
FY21
EIX 9.9%
FE 15.5%
FY22
EIX 8.6%
FE 15.3%
FY23
EIX 16.1%
FE 17.6%
FY24
EIX 16.7%
FE 17.6%
FY25
EIX 36.7%
FE 14.6%
EIX
FE
Free cash flow
FY16
EIX −$495M
FE $548M
FY17
EIX −$247M
FE $1.2B
FY18
EIX −$1.3B
FE −$1.3B
FY19
EIX −$5.2B
FE −$198M
FY20
EIX −$4.2B
FE −$1.2B
FY21
EIX −$5.5B
FE $324M
FY22
EIX −$2.6B
FE −$165M
FY23
EIX −$2.0B
FE −$2.0B
FY24
EIX −$693M
FE −$1.1B
FY25
EIX −$715M
FE −$1.0B
EIX
FE
Return on capital
FY16
EIX 7.1%
FE 3.3%
FY17
EIX 3.8%
FE 4.7%
FY18
EIX −1.6%
FE 8.0%
FY19
EIX 5.7%
FE 8.7%
FY20
EIX 3.3%
FE 6.7%
FY21
EIX 3.5%
FE 4.5%
FY22
EIX 3.2%
FE 3.0%
FY23
EIX 4.9%
FE 5.5%
FY24
EIX 5.5%
FE 4.9%
FY25
EIX 9.8%
FE 4.6%
EIX
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.