Tearsheet

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


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.9%, Dividend Yield is 2.6%
Trading close to highs
Dist 52W High is -0.3%, Dist 3Y High is -0.3%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 70%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 17%
Weak multi-year price returns
2Y Excs Rtn is -12%, 3Y Excs Rtn is -33%
Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, CFO LTM is 3.0 Bil
  
3 Low stock price volatility
Vol 12M is 18%
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.9%, Dividend Yield is 2.6%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 17%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, CFO LTM is 3.0 Bil
3 Low stock price volatility
Vol 12M is 18%
4 Trading close to highs
Dist 52W High is -0.3%, Dist 3Y High is -0.3%
5 Weak multi-year price returns
2Y Excs Rtn is -12%, 3Y Excs Rtn is -33%
6 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 70%
7 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19%

Market Valuation & Key Metrics

AEE Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
AEE Return4%17%3%-16%27%21%62%
Peers Return0%10%1%-10%20%16%40%
S&P 500 Return16%27%-19%24%23%14%106%

Monthly Win Rates [3]
AEE Win Rate50%50%50%50%50%44% 
Peers Win Rate55%52%58%53%55%58% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
AEE Max Drawdown-20%-10%-14%-18%-6%-3% 
Peers Max Drawdown-33%-9%-15%-22%-8%-10% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: SRE, DTE, PNW, NEE, D. See AEE 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 10/22/2025 (YTD)

How Low Can It Go

Unique KeyEventAEES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-27.8%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven38.5%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven508 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-29.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven41.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven504 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-18.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven22.7%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven190 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-63.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven175.6%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven2909 days1480 days

Compare to SRE, DTE, PNW, NEE, D


In The Past

Ameren's stock fell -27.8% during the 2022 Inflation Shock from a high on 4/20/2022. A -27.8% loss requires a 38.5% 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 Ameren (AEE)

Better Bets than Ameren (AEE)

Latest Trefis Analyses

Trade Ideas

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

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
AES_9302025_Dip_Buyer_ValueBuy09302025AESAESDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
8.8%8.8%0.0%
VST_5312025_Quality_Momentum_RoomToRun_10%05312025VSTVistraQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
16.4%16.4%0.0%
AEE_8312023_Monopoly_xInd_xCD_Getting_Cheaper08312023AEEAmerenMonopolyMY | 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
-8.7%7.8%-12.9%
AEE_2282023_Monopoly_xInd_xCD_Getting_Cheaper02282023AEEAmerenMonopolyMY | 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
-1.1%-10.8%-15.3%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
AES_9302025_Dip_Buyer_ValueBuy09302025AESAESDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
8.8%8.8%0.0%
VST_5312025_Quality_Momentum_RoomToRun_10%05312025VSTVistraQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
16.4%16.4%0.0%
AEE_8312023_Monopoly_xInd_xCD_Getting_Cheaper08312023AEEAmerenMonopolyMY | 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
-8.7%7.8%-12.9%
AEE_2282023_Monopoly_xInd_xCD_Getting_Cheaper02282023AEEAmerenMonopolyMY | 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
-1.1%-10.8%-15.3%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Ameren

Financials

AEESREDTEPNWNEEDMedian
NameAmeren Sempra DTE Ener.Pinnacle.NextEra .Dominion. 
Mkt Price105.3892.06142.6992.6282.8460.9092.34
Mkt Cap28.560.129.511.1170.451.940.7
Rev LTM8,43213,33614,2015,25525,89915,22713,768
Op Inc LTM1,6253,0352,2589967,6454,5282,646
FCF LTM-1,623-4,372-648-7943,735-8,071-1,208
FCF 3Y Avg-1,380-4,026-886-7192,046-5,691-1,133
CFO LTM3,0074,6533,5711,73612,2084,6094,090
CFO 3Y Avg2,6704,0563,1441,37811,3295,6773,600

Growth & Margins

AEESREDTEPNWNEEDMedian
NameAmeren Sempra DTE Ener.Pinnacle.NextEra .Dominion. 
Rev Chg LTM17.3%-1.0%14.6%7.5%0.2%5.3%6.4%
Rev Chg 3Y Avg7.6%-0.8%-6.1%10.0%16.7%7.5%7.5%
Rev Chg Q31.2%-0.4%18.9%3.8%10.4%9.3%9.8%
QoQ Delta Rev Chg LTM6.7%-0.1%4.0%1.0%2.5%2.2%2.3%
Op Mgn LTM19.3%22.8%15.9%19.0%29.5%29.7%21.0%
Op Mgn 3Y Avg20.2%21.1%15.8%18.1%31.1%27.0%20.6%
QoQ Delta Op Mgn LTM-0.7%0.1%-1.2%-0.3%0.3%1.2%-0.1%
CFO/Rev LTM35.7%34.9%25.1%33.0%47.1%30.3%34.0%
CFO/Rev 3Y Avg33.7%28.9%22.5%27.9%43.4%38.4%31.3%
FCF/Rev LTM-19.2%-32.8%-4.6%-15.1%14.4%-53.0%-17.2%
FCF/Rev 3Y Avg-17.4%-27.6%-6.2%-14.7%8.0%-38.2%-16.1%

Valuation

AEESREDTEPNWNEEDMedian
NameAmeren Sempra DTE Ener.Pinnacle.NextEra .Dominion. 
Mkt Cap28.560.129.511.1170.451.940.7
P/S3.44.52.12.16.63.43.4
P/EBIT14.018.412.610.221.610.113.3
P/E23.222.120.519.228.822.722.4
P/CFO9.512.98.36.414.011.310.4
Total Yield6.9%7.1%7.7%8.9%6.1%8.7%7.4%
Dividend Yield2.6%2.6%2.8%3.7%2.6%4.3%2.7%
FCF Yield 3Y Avg-6.3%-8.4%-3.7%-7.6%1.4%-12.7%-6.9%
D/E0.70.60.81.30.50.90.8
Net D/E0.70.60.81.30.50.90.8

Returns

AEESREDTEPNWNEEDMedian
NameAmeren Sempra DTE Ener.Pinnacle.NextEra .Dominion. 
1M Rtn6.3%12.6%4.8%7.4%14.5%1.8%6.9%
3M Rtn6.2%16.8%4.1%0.5%14.6%5.7%5.9%
6M Rtn8.4%27.6%6.5%0.1%25.1%16.9%12.7%
12M Rtn23.6%11.8%15.0%9.4%2.1%6.3%10.6%
3Y Rtn49.2%42.5%47.2%64.8%25.9%7.9%44.9%
1M Excs Rtn3.8%7.1%2.8%5.7%13.9%-1.0%4.8%
3M Excs Rtn0.8%10.0%-1.8%-3.4%10.7%-0.4%0.2%
6M Excs Rtn-16.2%3.0%-18.1%-24.5%0.5%-7.7%-12.0%
12M Excs Rtn7.9%-3.7%0.2%-4.6%-13.0%-7.8%-4.1%
3Y Excs Rtn-33.2%-42.2%-34.3%-13.2%-59.6%-73.8%-38.2%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Ameren Missouri3,8594,0463,3533,1093,243
Ameren Illinois Electric Distribution2,2182,2561,6391,4981,504
Ameren Illinois Natural Gas8971,180957760797
Ameren Transmission677615562523464
Other00000
Intersegment Eliminations-151-140-117-96-98
Total7,5007,9576,3945,7945,910


Net Income by Segment
$ Mil20242023202220212020
Ameren Missouri545562518436426
Ameren Transmission296263230216185
Ameren Illinois Electric Distribution258202165143146
Ameren Illinois Natural Gas1341231089984
Intersegment Eliminations00000
Other-81-76-31-23-13
Total1,1521,074990871828


Price Behavior

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity9,220,972
Short Interest: % Change Since 9152025-3.8%
Average Daily Volume1,415,007
Days-to-Cover Short Interest6.52
Basic Shares Quantity270,300,000
Short % of Basic Shares3.4%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/20251.0%1.2%-1.3%
5/1/20251.4%-0.4%-1.0%
2/13/2025-0.2%0.3%3.2%
11/6/2024-1.4%4.1%4.6%
8/1/20241.6%-1.3%1.5%
5/2/2024-1.5%-0.6%-2.0%
2/22/20241.1%0.5%2.2%
11/8/2023-1.9%0.1%0.6%
...
SUMMARY STATS   
# Positive111314
# Negative131110
Median Positive1.0%1.8%2.2%
Median Negative-1.4%-1.0%-2.3%
Max Positive2.0%5.1%8.6%
Max Negative-2.9%-4.0%-18.7%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025804202510-Q 6/30/2025
3312025505202510-Q 3/31/2025
12312024218202510-K 12/31/2024
93020241107202410-Q 9/30/2024
6302024805202410-Q 6/30/2024
3312024506202410-Q 3/31/2024
12312023229202410-K 12/31/2023
93020231109202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023505202310-Q 3/31/2023
12312022222202310-K 12/31/2022
93020221104202210-Q 9/30/2022
6302022808202210-Q 6/30/2022
3312022506202210-Q 3/31/2022
12312021223202210-K 12/31/2021
93020211104202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Lindgren Mark C 9152025Sell100.893,500353,1154,295,291Form
1Mizell Gwendolyn G9042025Sell99.501,500149,250759,086Form
2Mizell Gwendolyn G8262025Sell101.791,000101,790929,241Form
3MOEHN MICHAEL LSr Executive VP & CFO8052025Sell102.546,500666,51021,008,293Form
4MOEHN MICHAEL LSr Executive VP & CFO5212025Sell98.626,500641,03020,785,940Form