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FirstEnergy Corp., together with its subsidiaries, engages in the generation, distribution, and transmission of electricity in the United States. It operates through Distribution, Integrated, and Stand-Alone Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities. The company operates 252,959 distribution line miles and 24,157 transmission line miles, including overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits. The company serves customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. FirstEnergy Corp. was incorporated in 1996 and is headquartered in Akron, Ohio.
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 | $15.1B | $4.3B | $1.0B | $-1.0B | 8.2% | 12.0% | 4.3% |
| 2024 | $13.5B | $4.1B | $978M | $-1.1B | 7.9% | 4.7% | -11.3% |
| 2023 | $12.9B | $4.0B | $1.1B | $-2.0B | 10.6% | 3.3% | 171.4% |
| 2022 | $12.5B | $3.8B | $406M | $-165M | 4.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 12,459 | 12,870 | 13,472 | 15,090 |
| Cost Of Revenue | - | 4,593 | 4,646 | 4,376 | 5,235 |
| Gross Profit | - | 7,866 | 8,224 | 9,096 | 9,855 |
| Operating Expense | - | 5,956 | 5,943 | 6,606 | 7,022 |
| Operating Income | - | 1,910 | 2,281 | 2,490 | 2,833 |
| EBITDA | - | 3,769 | 3,952 | 4,096 | 4,255 |
| EBIT | - | 2,394 | 2,491 | 2,515 | 2,591 |
| Pretax Income | - | 1,439 | 1,464 | 1,504 | 1,559 |
| Tax Provision | - | 1,000 | 267 | 377 | 288 |
| Net Income | - | 406 | 1,102 | 978 | 1,020 |
| Net Income Common Stockholders | - | 406 | 1,102 | 978 | 1,020 |
| Total Expenses | - | 10,549 | 10,589 | 10,982 | 12,257 |
| Interest Expense | - | 955 | 1,027 | 1,011 | 1,032 |
| Selling General And Administration | -382 | -72 | 78 | - | - |
| Normalized EBITDA | - | 3,940 | 4,003 | 4,296 | 4,906 |
| Normalized Income | - | 541.09 | 1,164.72 | 1,127.80 | 1,550.56 |
| Market Cap | 28,578.68 | 28,578.68 | 28,578.68 | 28,578.68 | 28,578.68 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FirstEnergy Corp.this co. | FE | $28.5B | 28.02↑ premium | 2.28 | 8.2% | 12.94 |
| DTE Energy Company | DTE | $30.5B | 20.90 | 2.48 | 11.9% | 12.74 |
| Ameren Corporation | AEE | $30.1B | 21.11 | 2.29 | 10.9% | 12.51 |
| 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 |
| 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 |
| Eversource Energy | ES | $25.5B | 15.24 | 1.59 | 10.4% | 10.16 |
| Peer Median | - | 22.19 | 2.28 | 10.4% | 12.78 | |