Eversource EnergyES
NYSE•Utilities•Utilities - Regulated Electric
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas. The company also operates regulated water utilities that provides water services to residential, commercial, industrial, municipal and fire protection, and other customers in Connecticut, Massachusetts, and New Hampshire. The company was formerly known as Northeast Utilities and changed its name to Eversource Energy in April 2015. Eversource Energy was incorporated in 1927 and is headquartered in Springfield, Massachusetts.
Eversource Energy (D/B/A) (ES) reported trailing twelve months revenue of $13.93B as of March 2026, a 9.8% increase year-over-year. Quarterly revenue reached $4.50B, reflecting continued top-line momentum.
Eversource Energy (D/B/A) generated $1.75B in TTM net income, with quarterly EBITDA of $1.90B. The operating margin expanded from 22.5% to 23.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (23.9%) and net margin (13.5%) indicates moderate non-operating costs. Net margin has improved from 13.4% a year ago, signaling stronger bottom-line efficiency.
ES trades at a P/E of 14.7x (below the broader market average) and a P/S of 1.8x. The price-to-book ratio of 1.6x reflects a moderate premium to book value.
The company generated $315.01M in free cash flow over the trailing twelve months, a 848.5% increase year-over-year, indicating cash generation ability. The balance sheet shows $64.71B in total assets with no in long-term debt against $16.53B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~22.2%, suggesting durable pricing power and cost discipline.
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Only 3 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~22.7% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~22.4% — no sign of cost or pricing stress.
Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
5 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Shares outstanding increased 6.6% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation