FirstEnergy Corp.FE
NYSE•Utilities•Utilities - Regulated Electric
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.
FirstEnergy Corp. (FE) reported trailing twelve months revenue of $13.80B as of March 2026, a 16.5% increase year-over-year. Quarterly revenue reached $3.57B, reflecting continued top-line momentum.
FirstEnergy Corp. reported a TTM net loss of $335.00M, with quarterly EBITDA of $0. The operating margin expanded from -13.1% to -12.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (-12.0%) and net margin (-5.6%) indicates tight cost control with minimal non-operating drag. Net margin has improved from -7.4% a year ago, signaling stronger bottom-line efficiency.
FE trades at a P/S of 2.1x. The price-to-book ratio of 2.1x reflects a moderate premium to book value.
The company generated $0 in free cash flow over the trailing twelve months, indicating strong cash generation ability. The balance sheet shows $56.92B in total assets with $26.33B in long-term debt against $14.11B in stockholders equity for a debt-to-equity ratio of 1.9. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -11.6%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF consistently trails net income (avg 0.0x) — earnings may be inflated by non-cash items or aggressive accounting.
Debt-to-equity has risen 21.9% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
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