OGE Energy Corp.OGE
NYSE•Utilities•Utilities - Regulated Electric
OGE Energy Corp., through its subsidiaries, generates, transmits, distributes, and sells electric energy in the United States. It owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets. The company also provides retail electric services to approximately 913,000 customers that covers a service area of approximately 30,000 square miles. Additionally, it offers bill payment and electric construction services for residential and business sectors. OGE Energy Corp. was founded in 1902 and is based in Oklahoma City, Oklahoma.
OGE Energy Corp (OGE) reported trailing twelve months revenue of $3.27B as of March 2026, a 4.1% increase year-over-year. Quarterly revenue reached $752.60M, reflecting continued top-line momentum.
OGE Energy Corp generated $458.20M in TTM net income, with quarterly EBITDA of $249.50M. The operating margin contracted from 17.8% to 15.0%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (15.0%) and net margin (6.7%) indicates moderate non-operating costs. Net margin has narrowed from 8.4% a year ago, reflecting increased costs or interest expense.
OGE trades at a P/E of 21.5x (in line with broad market averages) and a P/S of 3.0x. The price-to-book ratio of 2.0x reflects a moderate premium to book value.
The company reported negative free cash flow of $-91.30M, indicating cash consumption over the period. The balance sheet shows $14.47B in total assets with $5.37B in long-term debt against $4.94B in stockholders equity for a debt-to-equity ratio of 1.1. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~24.1% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~9.7% on average, adequate but below the threshold typically associated with wide moats.
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (6 of 7 quarters up), with ~17.8% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 8.8% — watch for continued compression, which may signal competitive or cost pressure.
Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Shares outstanding rose 2.7% — mild dilution. Compare to earnings growth to assess net per-share impact.
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