Tearsheet

FirstEnergy (FE)


Market Price (12/29/2025): $45.01 | Market Cap: $26.0 Bil
Sector: Utilities | Industry: Electric Utilities

FirstEnergy (FE)


Market Price (12/29/2025): $45.01
Market Cap: $26.0 Bil
Sector: Utilities
Industry: Electric Utilities

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.0%, Dividend Yield is 3.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%
Weak multi-year price returns
2Y Excs Rtn is -12%, 3Y Excs Rtn is -58%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 101%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, CFO LTM is 3.6 Bil
  Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.5%
2 Low stock price volatility
Vol 12M is 20%
  Key risks
FE key risks include [1] substantial legal, Show more.
3 Megatrend and thematic drivers
Megatrends include Smart Grids & Grid Modernization, Electrification of Everything, and Renewable Energy Transition. Themes include Grid Automation, Show more.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.0%, Dividend Yield is 3.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, CFO LTM is 3.6 Bil
2 Low stock price volatility
Vol 12M is 20%
3 Megatrend and thematic drivers
Megatrends include Smart Grids & Grid Modernization, Electrification of Everything, and Renewable Energy Transition. Themes include Grid Automation, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -12%, 3Y Excs Rtn is -58%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 101%
6 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.5%
7 Key risks
FE key risks include [1] substantial legal, Show more.

Valuation, Metrics & Events

FE Stock


Why The Stock Moved


Qualitative Assessment

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1. FirstEnergy reported strong third-quarter 2025 financial results, with core earnings of $0.83 per share, surpassing analyst expectations. The company also narrowed and raised its full-year 2025 core earnings guidance, indicating a positive financial outlook.

2. The company announced an increase in its 2025 capital investment program to $5.5 billion, a 10% increase from its initial plan. This is part of the broader $28 billion Energize365 capital investment plan through 2029, focusing on grid modernization and reliability, which is expected to support a 6-8% compounded annual core earnings growth rate.

Show more

Stock Movement Drivers

Fundamental Drivers

The -0.3% change in FE stock from 9/28/2025 to 12/28/2025 was primarily driven by a -2.0% change in the company's P/E Multiple.
928202512282025Change
Stock Price ($)44.9944.85-0.31%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)14050.0014469.002.98%
Net Income Margin (%)9.31%9.19%-1.26%
P/E Multiple19.8519.46-1.96%
Shares Outstanding (Mil)577.00577.000.00%
Cumulative Contribution-0.31%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025
ReturnCorrelation
FE-0.3% 
Market (SPY)4.3%-0.6%
Sector (XLU)-1.4%59.8%

Fundamental Drivers

The 14.7% change in FE stock from 6/29/2025 to 12/28/2025 was primarily driven by a 18.2% change in the company's Net Income Margin (%).
629202512282025Change
Stock Price ($)39.1144.8514.68%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)13950.0014469.003.72%
Net Income Margin (%)7.78%9.19%18.18%
P/E Multiple20.8019.46-6.44%
Shares Outstanding (Mil)577.00577.000.00%
Cumulative Contribution14.68%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025
ReturnCorrelation
FE14.7% 
Market (SPY)12.6%1.0%
Sector (XLU)5.9%64.0%

Fundamental Drivers

The 17.8% change in FE stock from 12/28/2024 to 12/28/2025 was primarily driven by a 38.5% change in the company's Net Income Margin (%).
1228202412282025Change
Stock Price ($)38.0744.8517.80%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)13442.0014469.007.64%
Net Income Margin (%)6.64%9.19%38.52%
P/E Multiple24.5919.46-20.86%
Shares Outstanding (Mil)576.00577.00-0.17%
Cumulative Contribution17.80%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025
ReturnCorrelation
FE17.8% 
Market (SPY)17.0%10.4%
Sector (XLU)14.8%56.6%

Fundamental Drivers

The 20.3% change in FE stock from 12/29/2022 to 12/28/2025 was primarily driven by a 21.2% change in the company's Total Revenues ($ Mil).
1229202212282025Change
Stock Price ($)37.2744.8520.34%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)11942.0014469.0021.16%
Net Income Margin (%)10.35%9.19%-11.19%
P/E Multiple17.2219.4613.01%
Shares Outstanding (Mil)571.00577.00-1.05%
Cumulative Contribution20.33%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025
ReturnCorrelation
FE33.0% 
Market (SPY)48.4%10.2%
Sector (XLU)42.3%65.7%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
FE Return-34%42%5%-9%13%17%19%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
FE Win Rate50%75%67%42%67%67% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
FE Max Drawdown-43%-4%-12%-20%-2%-4% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See FE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventFES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-32.7%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven48.7%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-48.2%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven92.9%51.3%
2020 Covid PandemicTime to BreakevenTime to BreakevenNot Fully Recovered days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-16.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven19.2%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven88 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-57.0%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven132.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

FirstEnergy's stock fell -32.7% during the 2022 Inflation Shock from a high on 4/20/2022. A -32.7% loss requires a 48.7% gain to breakeven.

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Asset Allocation

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About FirstEnergy (FE)

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities. It operates 24,074 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 273,295 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits. The company serves approximately 6 million customers in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. FirstEnergy Corp. was incorporated in 1996 and is headquartered in Akron, Ohio.

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Here are 1-3 brief analogies for FirstEnergy (FE):

  • The Con Edison (ED) of Ohio and Pennsylvania.

  • A regional electric utility akin to Duke Energy (DUK) or Southern Company (SO).

  • Like PG&E (PCG), but serving the Midwest and Mid-Atlantic instead of California.

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AI Analysis | Feedback

  • Electricity Generation: Produces electricity from various power sources.
  • Electricity Transmission: Operates high-voltage power lines to transport electricity across regions.
  • Electricity Distribution: Delivers electricity directly to homes and businesses through local networks.

AI Analysis | Feedback

FirstEnergy (NYSE: FE) is an electric utility company that primarily sells electricity to end-users within its service territory. Therefore, it sells primarily to individuals and businesses rather than to other companies that would then resell the electricity.

The company serves the following major categories of customers:

  • Residential Customers: These are individual households that use electricity for personal consumption, including lighting, heating, cooling, and operating appliances.
  • Commercial Customers: This category includes a wide range of businesses, such as retail stores, office buildings, restaurants, schools, and hospitals. They use electricity for lighting, heating, cooling, operating equipment, and various business operations.
  • Industrial Customers: This category comprises large manufacturing facilities, industrial plants, and other major enterprises that require significant amounts of electricity for their production processes, machinery, and extensive operations.

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Steven E. Strah, President and Chief Executive Officer

Steven E. Strah began his career with FirstEnergy in 1983 and has held a variety of leadership positions across the company, including Senior Vice President of Shared Services, President of FirstEnergy Utilities, and Executive Vice President and Chief Financial Officer. He was appointed CEO in 2021.

Brian L. Marshall, Executive Vice President and Chief Financial Officer

Brian L. Marshall joined FirstEnergy in 1998. Prior to becoming CFO in 2020, he served as Vice President, Controller and Chief Accounting Officer.

Hyun Park, Executive Vice President, Chief Legal Officer and Chief Ethics and Compliance Officer

Hyun Park joined FirstEnergy in 2022. Before joining FirstEnergy, he served as Senior Vice President, General Counsel and Secretary for Hawaiian Electric Industries, Inc.

Mary Beth Carroll, Senior Vice President, Chief Ethics & Compliance Officer

Mary Beth Carroll joined FirstEnergy in 2021. She previously held various leadership roles at public and private companies, including Chief Ethics & Compliance Officer at PG&E Corporation and Pacific Gas and Electric Company.

Gary Benz, Senior Vice President and Chief Commercial Officer

Gary Benz joined FirstEnergy in 1991 and has held various positions within the company, including roles in operations, energy trading, and marketing.

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Key Risks to FirstEnergy (FE)

  1. Legal, Regulatory, and Reputational Risks: FirstEnergy faces significant ongoing risks stemming from legal and regulatory challenges, particularly those associated with the HB 6 political corruption scandal. This includes ongoing litigation, state regulatory investigations, a Deferred Prosecution Agreement (DPA) with the U.S. Attorney's Office, and potential substantial monetary damages from related lawsuits. The company has also faced SEC settlements and potential large fines from consumer advocates for alleged misuse of customer funds. These issues have led to public distrust and can adversely affect the company's financial condition and reputation.

  2. Operational Risks: The company is exposed to significant operational risks related to its extensive and aging infrastructure. Service failures and repeated power outages due to poor maintenance and outdated equipment have led to regulatory scrutiny, daily penalties, and public backlash. Furthermore, cybersecurity threats are a major concern, with the potential for sophisticated cyber-attacks to disrupt operations and compromise sensitive data. FirstEnergy also faces challenges in maintaining grid reliability and resilience against extreme weather events.

  3. Market and Economic Conditions: FirstEnergy is subject to market risks, including fluctuations in interest rates, which can impact its financing costs. Economic conditions, such as inflationary pressures, supply chain disruptions, and changes in electricity demand, also pose threats to the company's operational efficiency and profitability. Additionally, evolving federal and state regulations, like the Inflation Reduction Act of 2022, could affect its tax obligations and financial condition.

AI Analysis | Feedback

The widespread adoption and decreasing cost of distributed energy resources (DERs), such as rooftop solar panels and battery storage, pose a clear emerging threat. As these technologies become more accessible and affordable, customers can generate and store their own electricity, reducing their reliance on the traditional grid and their purchases from FirstEnergy. This trend, coupled with the potential for microgrids and community energy projects, could lead to declining demand for FirstEnergy's centralized power generation and distribution services, thereby impacting revenue and load growth.

AI Analysis | Feedback

The main products and services of FirstEnergy Corp. (FE) are the distribution and transmission of electricity, with some involvement in electricity generation and energy management. FirstEnergy serves approximately 6 million customers across a 65,000-square-mile area in the Midwest and Mid-Atlantic regions of the United States. This service territory includes portions of Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. The addressable market size for FirstEnergy's main products and services, primarily its regulated electricity distribution and transmission, can be quantified by its total operating revenues within its service region. The company's total operating revenue for the twelve months ending September 30, 2025, was approximately $14.469 billion (U.S. region).

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FirstEnergy (FE) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives and investments:

  1. Regulated Capital Investments and Rate Base Growth: FirstEnergy's primary driver of future revenue growth is anticipated to be its substantial capital investment program in its regulated utilities. These investments, focused on grid modernization, reliability, and infrastructure upgrades, expand the company's rate base. As the rate base grows, FirstEnergy is able to earn a regulated return on these assets, leading to increased revenue. The company plans to invest $3.8 billion in 2024 and approximately $26 billion through 2028, with these investments driving a projected 6% to 8% annual rate base growth.
  2. Grid Modernization and Reliability Enhancements: Significant investments in grid modernization initiatives, including advanced smart technologies and infrastructure upgrades, are crucial for future revenue growth. These projects aim to enhance the reliability and resiliency of the distribution and transmission systems, allowing the company to seek regulatory approval for rate adjustments to recover these costs and earn a return. For instance, FirstEnergy is investing in programs like "Energizing the Future," which focuses on transmission and distribution system enhancements.
  3. Clean Energy Transition and Decarbonization Investments: FirstEnergy is making strategic investments to support the clean energy transition, including infrastructure to integrate more renewable energy sources and support electric vehicle charging infrastructure. These investments align with broader decarbonization goals and can lead to new revenue opportunities through dedicated tariffs, programs, and a growing rate base associated with these environmentally focused initiatives.

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I apologize, but I was unable to retrieve specific capital allocation details for FirstEnergy (FE) over the last 3-5 years within the requested categories.

Better Bets than FirstEnergy (FE)

Trade Ideas

Select ideas related to FE. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PEG_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025PEGPublic Service EnterpriseMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-0.3%-0.3%-2.4%
PCG_9262025_Dip_Buyer_ValueBuy09262025PCGPG&EDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
5.5%5.5%-0.8%
AES_9052025_Dip_Buyer_ValueBuy09052025AESAESDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
10.2%10.2%-3.2%
FE_10312020_Dip_Buyer_ValueBuy10312020FEFirstEnergyDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
30.9%35.8%-9.4%

Recent Active Movers

More From Trefis

Peer Comparisons for FirstEnergy

Peers to compare with:

Financials

FEHPQHPEIBMCSCOAAPLMedian
NameFirstEne.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price44.8523.2624.49305.0978.16273.4061.50
Mkt Cap25.921.932.6284.9309.24,074.4158.8
Rev LTM14,46955,29534,29665,40257,696408,62556,496
Op Inc LTM2,7443,6241,64411,54412,991130,2147,584
FCF LTM-1,2252,80062711,85412,73396,1847,327
FCF 3Y Avg-1,4112,9781,40011,75313,879100,5037,366
CFO LTM3,6083,6972,91913,48313,744108,5658,590
CFO 3Y Avg2,5633,6723,89613,49814,736111,5598,697

Growth & Margins

FEHPQHPEIBMCSCOAAPLMedian
NameFirstEne.HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM7.6%3.2%13.8%4.5%8.9%6.0%6.8%
Rev Chg 3Y Avg6.6%-3.9%6.5%2.6%3.7%1.8%3.2%
Rev Chg Q11.2%4.2%14.4%9.1%7.5%9.6%9.4%
QoQ Delta Rev Chg LTM3.0%1.1%3.7%2.1%1.8%2.1%2.1%
Op Mgn LTM19.0%6.6%4.8%17.7%22.5%31.9%18.3%
Op Mgn 3Y Avg17.2%7.4%7.2%16.4%24.2%30.8%16.8%
QoQ Delta Op Mgn LTM0.2%-0.2%-1.4%0.6%0.4%0.1%0.1%
CFO/Rev LTM24.9%6.7%8.5%20.6%23.8%26.6%22.2%
CFO/Rev 3Y Avg18.6%6.8%12.7%21.4%26.1%28.4%20.0%
FCF/Rev LTM-8.5%5.1%1.8%18.1%22.1%23.5%11.6%
FCF/Rev 3Y Avg-10.5%5.5%4.6%18.6%24.6%25.6%12.1%

Valuation

FEHPQHPEIBMCSCOAAPLMedian
NameFirstEne.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap25.921.932.6284.9309.24,074.4158.8
P/S1.80.41.04.45.410.03.1
P/EBIT8.86.819.925.122.531.321.2
P/E19.58.6572.736.029.941.033.0
P/CFO7.25.911.221.122.537.516.2
Total Yield9.0%14.1%2.3%5.0%5.4%2.8%5.2%
Dividend Yield3.9%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg-6.3%10.6%5.5%6.4%6.0%3.1%5.7%
D/E1.10.50.70.20.10.00.4
Net D/E1.00.30.60.20.00.00.3

Returns

FEHPQHPEIBMCSCOAAPLMedian
NameFirstEne.HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn-6.0%-3.6%12.7%-1.1%1.6%-2.0%-1.5%
3M Rtn-0.3%-11.9%2.7%7.9%17.0%7.1%4.9%
6M Rtn14.7%-4.0%34.5%6.6%15.2%36.3%15.0%
12M Rtn17.8%-27.0%16.2%40.5%34.5%7.5%17.0%
3Y Rtn20.3%-3.7%67.3%141.3%79.6%114.1%73.5%
1M Excs Rtn-6.8%-5.6%12.9%-2.2%-0.0%-3.7%-3.0%
3M Excs Rtn-4.6%-16.2%-1.7%3.6%12.7%2.8%0.6%
6M Excs Rtn2.4%-16.3%22.3%-5.7%3.0%24.0%2.7%
12M Excs Rtn1.6%-42.9%-0.7%25.0%19.9%-8.4%0.4%
3Y Excs Rtn-58.1%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

Financials

Segment Financials

Assets by Segment
$ Mil20242023202220212020
Distribution19,235    
Integrated17,466    
Stand-Alone Transmission12,142    
Corporate/ Other2,3725241,3831,0171,015
Reconciling Adjustments-2,44800033
Regulated Distribution 31,74930,81230,85529,642
Regulated Transmission 13,83513,23712,59211,611
Total48,76746,10845,43244,46442,301


Price Behavior

Price Behavior
Market Price$44.85 
Market Cap ($ Bil)25.9 
First Trading Date11/10/1997 
Distance from 52W High-6.0% 
   50 Days200 Days
DMA Price$45.73$42.42
DMA Trendupup
Distance from DMA-1.9%5.7%
 3M1YR
Volatility13.4%20.5%
Downside Capture-10.70-9.14
Upside Capture-9.968.49
Correlation (SPY)2.6%10.6%
FE Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta0.08-0.000.020.040.130.23
Up Beta0.450.440.470.460.240.29
Down Beta0.630.090.07-0.080.160.20
Up Capture20%3%15%14%5%6%
Bmk +ve Days12253873141426
Stock +ve Days15294175138408
Down Capture-28%-32%-41%-34%-12%39%
Bmk -ve Days7162452107323
Stock -ve Days4122150108336

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of FE With Other Asset Classes (Last 1Y)
 FESector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return17.4%15.2%17.8%72.1%8.6%4.4%-8.2%
Annualized Volatility20.3%15.9%19.4%19.3%15.2%17.0%35.0%
Sharpe Ratio0.690.700.722.700.340.09-0.08
Correlation With Other Assets 56.6%10.5%18.1%-4.5%38.7%-10.2%

ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of FE With Other Asset Classes (Last 5Y)
 FESector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return12.6%9.7%14.7%18.7%11.5%4.6%30.8%
Annualized Volatility19.9%17.2%17.1%15.5%18.7%18.9%48.6%
Sharpe Ratio0.530.430.700.970.500.160.57
Correlation With Other Assets 73.4%31.4%17.6%9.5%51.9%12.3%

ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of FE With Other Asset Classes (Last 10Y)
 FESector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return8.0%10.5%14.8%15.3%7.0%5.3%69.2%
Annualized Volatility25.2%19.2%18.0%14.7%17.6%20.8%55.8%
Sharpe Ratio0.330.480.710.860.320.220.90
Correlation With Other Assets 71.7%42.7%10.6%12.6%55.7%7.8%

ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity24,986,385
Short Interest: % Change Since 11302025-5.0%
Average Daily Volume4,695,471
Days-to-Cover Short Interest5.32
Basic Shares Quantity577,000,000
Short % of Basic Shares4.3%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/22/2025-1.6%-3.2%-0.6%
7/30/20252.2%3.9%5.3%
2/26/2025-10.5%-10.5%-8.4%
10/29/2024-1.5%-2.2%0.5%
7/30/20240.3%0.8%5.8%
4/25/2024-1.1%1.3%2.1%
2/8/20244.2%4.2%7.7%
10/26/2023-2.6%1.4%5.2%
...
SUMMARY STATS   
# Positive91213
# Negative141110
Median Positive0.7%1.9%5.2%
Median Negative-1.6%-3.2%-6.6%
Max Positive7.6%5.4%10.2%
Max Negative-10.5%-10.5%-16.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
93020251028202510-Q 9/30/2025
6302025730202510-Q 6/30/2025
3312025430202510-Q 3/31/2025
12312024227202510-K 12/31/2024
93020241029202410-Q 9/30/2024
6302024730202410-Q 6/30/2024
3312024425202410-Q 3/31/2024
12312023213202410-K 12/31/2023
93020231026202310-Q 9/30/2023
6302023801202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022213202310-K 12/31/2022
93020221025202210-Q 9/30/2022
6302022726202210-Q 6/30/2022
3312022421202210-Q 3/31/2022
12312021216202210-K 12/31/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Lisowski JasonVP, Controller & CAO5272025Sell41.9712,000503,6527,685Form
1K. Jon TaylorSVP, CFO and Strategy5092025Sell43.0312,000516,3604,299,515Form