Tearsheet

FirstEnergy (FE)

Market Price (12/4/2025): $45.13 | Market Cap: $26.0 Bil
Sector: Utilities | Industry: Electric Utilities

FirstEnergy (FE)

Market Price (12/4/2025): $45.13
Market Cap: $26.0 Bil
Sector: Utilities
Industry: Electric Utilities

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

Megatrend and thematic drivers
Megatrends include Smart Grids & Grid Modernization, Electrification of Everything, and Renewable Energy Transition. Themes include Grid Automation, Show more.

0	Megatrend and thematic drivers Megatrends include Smart Grids & Grid Modernization, Electrification of Everything, and Renewable Energy Transition. Themes include Grid Automation, Show more.

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$45.13	$38.18	$33.72	$36.99	$35.30
Market Cap CYE ($ Bil)	26.0	22.0	19.3	21.1	19.3
Total Debt ($ Bil)	27.5	24.0	24.9	21.7	23.9
Total Cash ($ Bil)	1.4	0.1	0.1	0.2	1.5
Enterprise Value ($ Bil)	52.1	46.0	44.2	42.8	43.2
Valuation Ratios
P/S TTM	1.8	1.7	1.6	1.9	2.0
P/EBIT TTM	9.0	9.1	8.4	10.0	8.6
P/E TTM	19.8	23.4	19.1	59.0	17.7
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0	0.0	0.0

	12/4/25	2024	2023
Share Price CYE	$45.13	$38.18	$33.72
Market Cap CYE ($ Bil)	26.0	22.0	19.3
Total Debt ($ Bil)	27.5	24.0	24.9
Total Cash ($ Bil)	1.4	0.1	0.1
Enterprise Value ($ Bil)	52.1	46.0	44.2
Valuation Ratios
P/S TTM	1.8	1.7	1.6
P/EBIT TTM	9.0	9.1	8.4
P/E TTM	19.8	23.4	19.1
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0

	FE	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	14.5
Rev Chg Q	11.2%	0.8%
Rev Chg LTM	7.6%	0.8%
Rev Chg 3Y Avg	6.6%	3.1%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	2.7
CFO LTM ($ Bil)	3.6
Net Inc LTM ($ Bil)	1.3
Op Mgn LTM	19.0%	22.0%
CFO/Rev LTM	24.9%	20.7%
Net Inc Mgn	9.2%	10.1%
VALUATION	MODERATE
P/S	1.8	2.1
P/CFO	7.3	9.9
P/FCF	-21.5	12.2
P/E	19.8	20.7
STABILITY	POOR
Debt/Equity	1.04	0.44
Cash/Assets	0.03	0.05

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Number of Customers	6 million	10082025	Link
Service Area	65,000 square miles	7212025	Link
Miles of Distribution Lines	269,000 miles	10132025	Link
Miles of Transmission Lines	24,000 miles	7212025	Link
Regulated Generation Capacity	3,599 megawatts	8272025	Link
Smart Meters Deployed in Ohio (Phase 1)	715,000	4162025	Link
Planned Smart Meters in Ohio (Phase 2)	1.4 million	4162025	Link
Smart Meters Deployed in Pennsylvania	more than 2 million	9182025	Link
Planned Smart Meters in New Jersey	1.1 million	9182025	Link

Recent
11/07/2025	Dividend	Amount: $0.45 Payment On: 12/01/2025
Upcoming
2/25/2026	Earnings Release	Rev: - EPS: -

FE Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

1. FirstEnergy reported strong third-quarter 2025 financial results on October 22, 2025, surpassing both GAAP and Core Earnings per share (non-GAAP) estimates, with Core Earnings increasing 9% compared to the same period in 2024.

2. The company narrowed its full-year 2025 Core Earnings guidance to the upper half of its original range and significantly increased its planned capital investments for 2025 to $5.5 billion, while also affirming a 6-8% compounded annual Core Earnings growth rate through 2029 supported by a $28 billion capital plan.

Stock Movement Drivers

Fundamental Drivers

The 5.2% change in FE stock from 9/3/2025 to 12/3/2025 was primarily driven by a 3.5% change in the company's P/E Multiple.

	9032025	12032025	Change
Stock Price ($)	42.98	45.23	5.24%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	14050.00	14469.00	2.98%
Net Income Margin (%)	9.31%	9.19%	-1.26%
P/E Multiple	18.96	19.62	3.50%
Shares Outstanding (Mil)	577.00	577.00	0.00%
Cumulative Contribution			5.24%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
FE	5.2%
Market (SPY)	6.2%	4.7%
Sector (XLU)	4.5%	63.4%

Fundamental Drivers

The 12.9% change in FE stock from 6/4/2025 to 12/3/2025 was primarily driven by a 18.2% change in the company's Net Income Margin (%).

	6042025	12032025	Change
Stock Price ($)	40.06	45.23	12.91%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	13950.00	14469.00	3.72%
Net Income Margin (%)	7.78%	9.19%	18.18%
P/E Multiple	21.30	19.62	-7.89%
Shares Outstanding (Mil)	577.00	577.00	0.00%
Cumulative Contribution			12.91%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
FE	12.9%
Market (SPY)	15.1%	6.1%
Sector (XLU)	9.0%	68.2%

Fundamental Drivers

The 13.8% change in FE stock from 12/3/2024 to 12/3/2025 was primarily driven by a 38.5% change in the company's Net Income Margin (%).

	12032024	12032025	Change
Stock Price ($)	39.73	45.23	13.83%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	13442.00	14469.00	7.64%
Net Income Margin (%)	6.64%	9.19%	38.52%
P/E Multiple	25.66	19.62	-23.52%
Shares Outstanding (Mil)	576.00	577.00	-0.17%
Cumulative Contribution			13.83%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
FE	13.8%
Market (SPY)	14.3%	12.5%
Sector (XLU)	11.3%	58.3%

Fundamental Drivers

The 23.5% change in FE stock from 12/4/2022 to 12/3/2025 was primarily driven by a 21.2% change in the company's Total Revenues ($ Mil).

	12042022	12032025	Change
Stock Price ($)	36.62	45.23	23.50%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	11942.00	14469.00	21.16%
Net Income Margin (%)	10.35%	9.19%	-11.19%
P/E Multiple	16.92	19.62	15.98%
Shares Outstanding (Mil)	571.00	577.00	-1.05%
Cumulative Contribution			23.48%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
FE	32.3%
Market (SPY)	53.2%	11.5%
Sector (XLU)	46.2%	67.7%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
FE Return	-34%	42%	5%	-9%	13%	20%	21%
Peers Return	-11%	15%	5%	-2%	26%	9%	45%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
FE Win Rate	50%	75%	67%	42%	67%	70%
Peers Win Rate	57%	52%	55%	50%	63%	62%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
FE Max Drawdown	-43%	-4%	-12%	-20%	-2%	-4%
Peers Max Drawdown	-37%	-12%	-14%	-13%	-7%	-9%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: EXC, ETR, PPL, EIX, PNW. 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 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	FE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-32.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	48.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-48.2%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	92.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-16.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	19.2%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	88 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-57.0%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	132.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1480 days

Compare to EXC, ETR, PPL, EIX, PNW

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.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

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.

AI Generated Analysis | Feedback

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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 Generated 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 Generated 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.

AI Generated Analysis | Feedback

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AI Generated Analysis | Feedback

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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.

```

AI Generated 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 Generated 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).

AI Generated Analysis | Feedback

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

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.
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.
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.

AI Generated Analysis | Feedback

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.

	Best Bets In Utilities Sector
What You Pay
P/E	19.9
P/EBIT	9.0
What You Get
Rev Chg Q	11.2%
Rev Chg LTM	7.6%
Rev Chg 3Y Avg	6.6%
FCF/Rev 3Y Avg	-10.5%

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	FirstEnergy Earnings Notes
2	How Low Can FirstEnergy Stock Really Go?	Return
3	FirstEnergy vs Cheniere Energy: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	How Does FirstEnergy Stock Stack Up Against Its Peers?	Peer Comparison
5	Better Bet Than FE Stock: Pay Less Than FirstEnergy To Get More From OKE, CCL
6	Better Bet Than FE Stock: Pay Less Than FirstEnergy To Get More From BIPC
7	FE Dip Buy Analysis
8	FirstEnergy Total Shareholder Return (TSR): 16.8% in 2024 and 6.7% 3-yr compounded annual returns (below peer average)
9	FirstEnergy (FE) worth $22 Bil (down $-2.6 Bil), still more valuable than Regions Financial	Notification
10	FirstEnergy (FE) Operating Cash Flow Comparison	Financials
11	ARTICLES
12	S&P 500 Stocks Trading At 52-Week High		October 14th, 2025
13	Mid Cap Stocks Trading At 52-Week High		September 26th, 2025
14	Mid Cap Stocks Trading At 52-Week High		August 14th, 2025
15	Is FirstEnergy Stock A Buy As Regulatory Issues Ease And Demand Improves?		August 23rd, 2021

	Title
0	DASHBOARDS
1	FirstEnergy Earnings Notes
2	How Low Can FirstEnergy Stock Really Go?
3	FirstEnergy vs Cheniere Energy: Which Is A Better Investment?
4	How Does FirstEnergy Stock Stack Up Against Its Peers?
5	Better Bet Than FE Stock: Pay Less Than FirstEnergy To Get More From OKE, CCL
6	Better Bet Than FE Stock: Pay Less Than FirstEnergy To Get More From BIPC
7	FE Dip Buy Analysis
8	FirstEnergy Total Shareholder Return (TSR): 16.8% in 2024 and 6.7% 3-yr compounded annual returns (below peer average)
9	FirstEnergy (FE) worth $22 Bil (down $-2.6 Bil), still more valuable than Regions Financial
10	FirstEnergy (FE) Operating Cash Flow Comparison
11	ARTICLES
12	S&P 500 Stocks Trading At 52-Week High
13	Mid Cap Stocks Trading At 52-Week High
14	Mid Cap Stocks Trading At 52-Week High
15	Is FirstEnergy Stock A Buy As Regulatory Issues Ease And Demand Improves?

Trade Ideas

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

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PEG_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	PEG	Public Service Enterprise	Monopoly	MY \| 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	-0.7%	-0.7%	-0.7%
PCG_9262025_Dip_Buyer_ValueBuy	09262025	PCG	PG&E	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	2.5%	2.5%	0.0%
AES_9052025_Dip_Buyer_ValueBuy	09052025	AES	AES	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	9.3%	9.3%	-3.2%
FE_10312020_Dip_Buyer_ValueBuy	10312020	FE	FirstEnergy	Dip Buy	DB \| 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%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PEG_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	PEG	Public Service Enterprise	Monopoly	MY \| 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	-0.7%	-0.7%	-0.7%
PCG_9262025_Dip_Buyer_ValueBuy	09262025	PCG	PG&E	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	2.5%	2.5%	0.0%
AES_9052025_Dip_Buyer_ValueBuy	09052025	AES	AES	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	9.3%	9.3%	-3.2%
FE_10312020_Dip_Buyer_ValueBuy	10312020	FE	FirstEnergy	Dip Buy	DB \| 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%

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Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for FirstEnergy

Peers to compare with:

Financials

	FE	EXC	ETR	PPL	EIX	PNW	Median
Name	FirstEne.	Exelon	Entergy	PPL	Edison I.	Pinnacle.
Mkt Price	-	-	-	-	-	-	-
Mkt Cap	-	-	-	-	-	-	-
Rev LTM	-	-	-	-	-	-	-
Op Inc LTM	-	-	-	-	-	-	-
FCF LTM	-	-	-	-	-	-	-
FCF 3Y Avg	-	-	-	-	-	-	-
CFO LTM	-	-	-	-	-	-	-
CFO 3Y Avg	-	-	-	-	-	-	-

Growth & Margins

	FE	EXC	ETR	PPL	EIX	PNW	Median
Name	FirstEne.	Exelon	Entergy	PPL	Edison I.	Pinnacle.
Rev Chg LTM	-	-	-	-	-	-	-
Rev Chg 3Y Avg	-	-	-	-	-	-	-
Rev Chg Q	-	-	-	-	-	-	-
QoQ Delta Rev Chg LTM	-	-	-	-	-	-	-
Op Mgn LTM	-	-	-	-	-	-	-
Op Mgn 3Y Avg	-	-	-	-	-	-	-
QoQ Delta Op Mgn LTM	-	-	-	-	-	-	-
CFO/Rev LTM	-	-	-	-	-	-	-
CFO/Rev 3Y Avg	-	-	-	-	-	-	-
FCF/Rev LTM	-	-	-	-	-	-	-
FCF/Rev 3Y Avg	-	-	-	-	-	-	-

Valuation

	FE	EXC	ETR	PPL	EIX	PNW	Median
Name	FirstEne.	Exelon	Entergy	PPL	Edison I.	Pinnacle.
Mkt Cap	-	-	-	-	-	-	-
P/S	-	-	-	-	-	-	-
P/EBIT	-	-	-	-	-	-	-
P/E	-	-	-	-	-	-	-
P/CFO	-	-	-	-	-	-	-
Total Yield	-	-	-	-	-	-	-
Dividend Yield	-	-	-	-	-	-	-
FCF Yield 3Y Avg	-	-	-	-	-	-	-
D/E	-	-	-	-	-	-	-
Net D/E	-	-	-	-	-	-	-

Returns

	FE	EXC	ETR	PPL	EIX	PNW	Median
Name	FirstEne.	Exelon	Entergy	PPL	Edison I.	Pinnacle.
1M Rtn	-	-	-	-	-	-	-
3M Rtn	-	-	-	-	-	-	-
6M Rtn	-	-	-	-	-	-	-
12M Rtn	-	-	-	-	-	-	-
3Y Rtn	-	-	-	-	-	-	-
1M Excs Rtn	-	-	-	-	-	-	-
3M Excs Rtn	-	-	-	-	-	-	-
6M Excs Rtn	-	-	-	-	-	-	-
12M Excs Rtn	-	-	-	-	-	-	-
3Y Excs Rtn	-	-	-	-	-	-	-

Comparison Analyses

	Title
0	How Does FirstEnergy Stock Stack Up Against Its Peers?
1	Why FE With 20% Upside May Beat PPL?
2	ETR or FE - With 19% Return Forecast, FE Probably Deserves Your Money
3	PNW or FE - With 20% Return Forecast, FE Probably Deserves Your Money
4	EIX Looks Stronger Than FE With 21% Return Potential
5	FE or EXC - With 22% Return Forecast, EXC Probably Deserves Your Money
6	FirstEnergy vs. PayPal: With Return Forecast Of 40%, PayPal Is A Better Bet
7	FirstEnergy vs. Advanced Micro Devices: With Return Forecast Of 107%, Advanced Micro Devices Is A Better Bet
8	FirstEnergy vs. Automatic Data Processing: Both Seem Similar Bets
9	FirstEnergy vs. Norfolk Southern: With Return Forecast Of 14%, Norfolk Southern Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/28/2025	2/27/2025	2/13/2024	2/13/2023	2/16/2022	2/18/2021	2/10/2020
Key Financials
Total Revenue	14,469	13,472	12,870	12,459	11,132	10,790	11,035
EBITDA	4,685	4,103	3,952	3,769	4,287	3,391	3,299
Operating Income	2,744	2,375	2,266	1,910	1,847	2,162	2,510
Net Income	1,330	978	1,102	406	1,283	1,079	912
EPS	2.29	1.70	1.92	0.71	2.35	1.99	1.70
Growth Rates
Total Revenue Growth	7.6%	4.7%	3.3%	11.9%	3.2%	-2.2%	-2.0%
EBITDA Growth	13.7%	3.8%	4.9%	-12.1%	26.4%	2.8%	-16.4%
Operating Income Growth	18.2%	4.8%	18.6%	3.4%	-14.6%	-13.9%	0.3%
Net Income Growth	49.1%	-11.3%	171.4%	-68.4%	18.9%	18.3%	-32.3%
Margins
EBITDA Margin	32.4%	30.5%	30.7%	30.3%	38.5%	31.4%	29.9%
Operating Income Margin	19.0%	17.6%	17.6%	15.3%	16.6%	20.0%	22.7%
Net Income Margin	9.2%	7.3%	8.6%	3.3%	11.5%	10.0%	8.3%
Cash & Debt
Total Cash	1,404	111	137	160	1,462	1,734	627
Total Debt	27,470	24,023	24,910	21,654	23,854	24,477	20,998
Net Debt / (Cash)	26,066	23,912	24,773	21,494	22,392	22,743	20,371
Cash Flows
Net Cash from Operations	3,608	2,891	1,387	2,683	2,811	1,423	2,467
Free Cash from Operations	-1,225	-1,139	-1,969	-165	366	-1,234	-198
Returns to Shareholders
Dividends	1,004	970	906	891	849	845	820
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/28/2025	7/30/2025	4/30/2025	2/27/2025	10/29/2024	7/30/2024	4/25/2024	2/13/2024	10/26/2023	8/1/2023	4/27/2023	2/13/2023
Key Financials Quarterly
Total Revenue	4,148	3,380	3,765	3,176	3,729	3,280	3,287	3,146	3,487	3,006	3,231	3,177
Ebitda	1,385	1,078	1,201	1,021	1,235	906	1,058	921	1,099	952	929	959
Operating Income	830	547	754	613	727	415	612	568	666	448	471	399
Net Income	441	268	360	261	419	45	253	175	400	235	292	-403
EPS	0.76	0.46	0.62	0.45	0.73	0.08	0.44	0.30	0.70	0.41	0.51	-0.71
Key Financials TTM
Total Revenue TTM	14,469	14,050	13,950	13,472	13,442	13,200	12,926	12,870	12,901	12,889	12,701	12,459
Ebitda TTM	4,685	4,535	4,363	4,220	4,120	3,984	4,030	3,901	3,939	3,862	3,747	3,805
Operating Income TTM	2,744	2,641	2,509	2,367	2,322	2,261	2,294	2,153	1,984	1,823	1,822	1,910
Net Income TTM	1,330	1,308	1,085	978	892	873	1,063	1,102	524	458	410	406
Growth Rates Quarterly
Total Revenue Growth	11.2%	3.0%	14.5%	1.0%	6.9%	9.1%	1.7%	-1.0%	0.3%	6.7%	8.1%	19.4%
EBITDA Growth	12.1%	19.0%	13.5%	10.9%	12.4%	-4.8%	13.9%	-4.0%	7.5%	13.7%	-5.9%	-19.2%
Operating Income Growth	14.2%	31.8%	23.2%	7.9%	9.2%	-7.4%	29.9%	42.4%	31.9%	0.2%	-15.7%	78.1%
Net Income Growth	5.3%	495.6%	42.3%	49.1%	4.8%	-80.9%	-13.4%	143.4%	19.8%	25.7%	1.4%	-194.4%
Margins Quarterly
EBITDA Margin	33.4%	31.9%	31.9%	32.1%	33.1%	27.6%	32.2%	29.3%	31.5%	31.7%	28.8%	30.2%
Operating Income Margin	20.0%	16.2%	20.0%	19.3%	19.5%	12.7%	18.6%	18.1%	19.1%	14.9%	14.6%	12.6%
Net Income Margin	10.6%	7.9%	9.6%	8.2%	11.2%	1.4%	7.7%	5.6%	11.5%	7.8%	9.0%	-12.7%
Cash & Debt
Total Cash	1,404	569	132	111	439	60	888	137	118	171	177	160
Total Debt	27,470	25,818	24,786	24,023	23,705	23,951	24,515	24,910	24,454	24,008	22,726	21,654
Net Debt / (Cash)	26,066	25,249	24,654	23,912	23,266	23,891	23,627	24,773	24,336	23,837	22,549	21,494
Cash Flows Quarterly
FCF from Operations	845	1,082	637	1,044	775	1,112	-40	958	642	-101	-112	846
Cash Flows TTM
FCF from Operations TTM	3,608	3,538	3,568	2,891	2,805	2,672	1,459	1,387	1,275	1,187	2,216	2,683
Returns to Shareholders Quarterly
Dividends	257	257	245	245	245	245	235	236	223	224	223	224
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	7.5%	4.5%	6.2%	5.3%	6.8%	2.7%	4.5%	4.6%	7.1%	4.0%	4.3%	4.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	5.7%	5.6%	5.3%	4.9%	4.8%	4.8%	5.0%	5.0%	2.2%	1.8%	1.7%	1.8%

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Distribution	19,235
Integrated	17,466
Stand-Alone Transmission	12,142
Corporate/ Other	2,372	524	1,383	1,017	1,015
Reconciling Adjustments	-2,448	0	0	0	33
Regulated Distribution		31,749	30,812	30,855	29,642
Regulated Transmission		13,835	13,237	12,592	11,611
Total	48,767	46,108	45,432	44,464	42,301

Price Behavior

Price Behavior

Market Price	$45.23
Market Cap ($ Bil)	26.1
First Trading Date	11/10/1997
Distance from 52W High	-5.2%
	50 Days	200 Days
DMA Price	$46.08	$41.97
DMA Trend	up	up
Distance from DMA	-1.8%	7.8%
	3M	1YR
Volatility	14.0%	20.5%
Downside Capture	-21.84	-4.86
Upside Capture	8.04	8.50
Correlation (SPY)	5.5%	12.6%

FE Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.08	-0.00	0.02	0.04	0.13	0.23
Up Beta	0.45	0.44	0.47	0.46	0.24	0.29
Down Beta	0.63	0.09	0.07	-0.08	0.16	0.20
Up Capture	20%	3%	15%	14%	5%	6%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	15	29	41	75	138	408
Down Capture	-28%	-32%	-41%	-34%	-12%	39%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	4	12	21	50	108	336

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of FE With Other Asset Classes (Last 1Y)
	FE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	10.6%	8.0%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	20.5%	16.2%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	0.38	0.29	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		59.0%	12.3%	18.7%	-3.1%	40.3%	-8.2%

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)
	FE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	15.8%	9.6%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	20.1%	17.3%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.67	0.43	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		72.6%	31.7%	17.8%	9.3%	51.7%	11.1%

Based On 10-Year Data

		Comparison of FE With Other Asset Classes (Last 10Y)
	FE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	8.2%	10.8%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	25.2%	19.2%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.34	0.49	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		71.7%	42.8%	10.9%	12.7%	55.7%	7.7%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	27,967,162
Short Interest: % Change Since 10312025	2.3%
Average Daily Volume	3,973,829
Days-to-Cover Short Interest	7.04
Basic Shares Quantity	577,000,000
Short % of Basic Shares	4.8%

Returns Analyses

	Title
0	How Low Can FirstEnergy Stock Really Go?
1	FirstEnergy Stock Return Comparison
2	[9/29/2021] FirstEnergy (FE) Stock Price Forecast: AI Forecasts FE Stock Price To Be Around $36.7 In A Month (Up 1%)
3	FirstEnergy Total Shareholder Return (TSR): 4.6% in 2022 and -0.8% 3-yr returns (above peer average)

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10282025	10-Q 9/30/2025
6302025	7302025	10-Q 6/30/2025
3312025	4302025	10-Q 3/31/2025
12312024	2272025	10-K 12/31/2024
9302024	10292024	10-Q 9/30/2024
6302024	7302024	10-Q 6/30/2024
3312024	4252024	10-Q 3/31/2024
12312023	2132024	10-K 12/31/2023
9302023	10262023	10-Q 9/30/2023
6302023	8012023	10-Q 6/30/2023
3312023	4272023	10-Q 3/31/2023
12312022	2132023	10-K 12/31/2022
9302022	10252022	10-Q 9/30/2022
6302022	7262022	10-Q 6/30/2022
3312022	4212022	10-Q 3/31/2022
12312021	2162022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Lisowski Jason	VP, Controller & CAO	5272025	Sell	41.97	12,000	503,652	7,685	Form
1	K. Jon Taylor	SVP, CFO and Strategy	5092025	Sell	43.03	12,000	516,360	4,299,515	Form

Industry Resources

Utilities Resources

Data.gov Energy Infrastructure

Daga.gov Energy Resources

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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FirstEnergy (FE)

Market Price (12/4/2025): $45.13 | Market Cap: $26.0 BilSector: Utilities | Industry: Electric Utilities

FirstEnergy (FE)

Market Price (12/4/2025): $45.13Market Cap: $26.0 BilSector: UtilitiesIndustry: Electric Utilities

Valuation, Metrics & Events

FE Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

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Market Drivers

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Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

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About FirstEnergy (FE)

Interactive Breakdown

Better Bets than FirstEnergy (FE)

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Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

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Market Price (12/4/2025): $45.13 | Market Cap: $26.0 Bil
Sector: Utilities | Industry: Electric Utilities

Market Price (12/4/2025): $45.13
Market Cap: $26.0 Bil
Sector: Utilities
Industry: Electric Utilities