Aureus
FRed Flag

FirstEnergy Corp.(FE)

F

Financial data as of Dec 31, 2025Improving · Utilities

FCF Margin-6.7%Free Cash Flow / Revenue
Cash Conversion—Operating CF / Net Income
Free Cash Flow-$1.0B
Revenue$15.1B
Net Cash-$26.5BNet debt position
Debt / FCFN/AElevated debt burden
Current Ratio0.57Tight short-term liquidity
YoY FCF Growth+88.0%0 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseF
→
-1Current ratio below 1.0 (0.57)
→
-1Negative FCF in 4 of last 4 quarters
→
+1Strong YoY FCF growth (88.0% YoY)
→
-1Only 0 positive quarters recently
→
FinalF

Analysis Summary

Strengths

  • Strong YoY FCF growth (+88.0%)

Concerns

  • Negative FCF margin (-6.7%)
  • Net debt position ($26.5B)
  • Current ratio below 1.0 — tight short-term liquidity
  • Only 0 positive FCF quarters recently
Heavy CapEx — Operating cash flow is strong (25% margin) but most is reinvestedCash conversion ratio unavailable or not meaningful

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin-6.7%
Net Margin6.8%
Operating CF Margin24.5%
CapEx Ratio31.2%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$26.5BNet debt position
Debt / FCFN/AElevated debt burden
Current Ratio0.57Tight liquidity
Debt / Equity2.12High leverage

Quarterly FCF Trend

+88.0% YoYImproving (+88.0%)

Free cash flow per quarter

Sector Comparison — Utilities

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameFirstEnergy Corp.
SectorUtilities
Free Cash Flow-$1.0B
Revenue$15.1B
Net Income$1.0B
Operating Cash Flow$3.7B
Capital Expenditure$4.7B
FCF Margin-6.7%
Cash Conversion Rate—
Net Margin6.8%
Total Debt$26.6B
Total Cash$57.0M
Net Cash-$26.5B
Current Ratio0.57
Debt / Equity2.12
Debt / FCFN/A
YoY FCF Growth+88.0%
Positive Quarters0 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeF
Data SourceYahoo Finance