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Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution business and natural gas transmission and distribution business. The company also generates electricity through coal, nuclear, and natural gas, as well as renewable energy, including hydroelectric, wind, methane gas, and solar energy centers. It serves residential, commercial, and industrial customers. Ameren Corporation was founded in 1881 and is headquartered in Saint Louis, Missouri.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $8.8B | $4.0B | $1.5B | $-821M | 10.9% | 15.4% | 23.2% |
| 2024 | $7.6B | $3.5B | $1.2B | $-1.6B | 9.8% | 1.6% | 2.6% |
| 2023 | $7.5B | $3.4B | $1.2B | $-1.2B | 10.2% | -5.7% | 7.3% |
| 2022 | $8.0B | $3.2B | $1.1B | $-1.1B | 10.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 7,957 | 7,500 | 7,623 | 8,799 |
| Cost Of Revenue | - | 4,614 | 4,033 | 3,970 | 4,628 |
| Gross Profit | - | 3,343 | 3,467 | 3,653 | 4,171 |
| Operating Expense | - | 1,828 | 1,909 | 2,137 | 2,145 |
| Operating Income | - | 1,515 | 1,558 | 1,516 | 2,026 |
| EBITDA | - | 3,179 | 3,406 | 3,538 | 4,041 |
| EBIT | - | 1,741 | 1,906 | 1,933 | 2,373 |
| Pretax Income | - | 1,255 | 1,340 | 1,270 | 1,597 |
| Tax Provision | - | 176 | 183 | 83 | 136 |
| Net Income | - | 1,074 | 1,152 | 1,182 | 1,456 |
| Net Income Common Stockholders | - | 1,074 | 1,152 | 1,182 | 1,456 |
| Total Expenses | - | 6,442 | 5,942 | 6,107 | 6,773 |
| Interest Expense | - | 486 | 566 | 663 | 776 |
| Interest Income | - | 35 | 33 | 41 | 41 |
| Selling General And Administration | -136 | -184 | -295 | - | - |
| Normalized EBITDA | - | 3,136 | 3,352 | 3,446 | 3,945 |
| Normalized Income | - | 1,037.02 | 1,105.56 | 1,096.44 | 1,368.64 |
| Market Cap | 30,741.71 | 30,741.71 | 30,741.71 | 30,741.71 | 30,741.71 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ameren Corporationthis co. | AEE | $30.1B | 21.11↓ discount | 2.29 | 10.9% | 12.51 |
| NRG Energy, Inc. | NRG | $33.8B | 39.28 | 32.92 | 83.8% | 13.98 |
| DTE Energy Company | DTE | $30.5B | 20.90 | 2.48 | 11.9% | 12.74 |
| Atmos Energy Corporation | ATO | $29.5B | 25.59 | 2.26 | 8.8% | 16.68 |
| PPL Corporation | PPL | $28.6B | 24.68 |
| - |
| - |
| - |
| - |
| - |
| 1.96 |
| 7.9% |
| 12.83 |
| FirstEnergy Corp. | FE | $28.5B | 28.02 | 2.28 | 8.2% | 12.94 |
| Edison International | EIX | $28.0B | 5.64 | 1.55 | 27.5% | 6.31 |
| CenterPoint Energy, Inc. | CNP | $27.7B | 26.41 | 2.49 | 9.4% | 13.78 |
| American Water Works Company, Inc. | AWK | $25.9B | 23.28 | 2.39 | 10.3% | 14.22 |
| Peer Median | - | 25.14 | 2.34 | 9.8% | 13.36 | |