American Electric Power (AEP) stock
Utilities · Electric Utilities
American Electric Power (AEP) is an Electric Utilities company in the Utilities sector, headquartered in Columbus, Ohio. As of October 23, 2026, AEP closed at $129.69, a market capitalization of $70.60 billion, the 179th largest company in the S&P 500. Over the last twelve months it generated $22.79 billion in revenue (+7% year over year) and -$2.44 billion in free cash flow. The stock trades at 22.5x trailing earnings and 18.9x forward earnings.
- 1-year total return: +15.1% (dividends reinvested)
- 5-year return: +12.6% a year
- 52-week range: $112.54 – $140.58
- Gross margin 46.4%, operating margin 23.3%
- Dividend yield: 2.99%, 16 straight years of increases
- FI Handbook report card: C- across 10 metrics
- 5th largest of 31 Utilities stocks in the S&P 500
AEP price chart
1Y price change: +11.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| AEP | +9.5% | +15.1% | +15.1% | +25.4% | +12.6% | +11.4% | +8.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1962.
AEP key statistics
- Market cap
- $70.6B
- #179 in S&P 500
- P/E (TTM)
- 22.5x
- Forward P/E
- 18.9x
- EPS (TTM)
- $5.77
- Revenue (TTM)
- $22.8B
- +7%
- Free cash flow
- -$2.4B
- Gross margin
- 46.4%
- Operating margin
- 23.3%
- Return on equity
- 10.1%
- Dividend yield
- 2.99%
- 52-week range
- $112.54 – $140.58
- Beta
- 0.47
- Price / sales
- 3.1x
- EV / EBITDA
- 13.8x
- Debt / equity
- 1.61x
- Employees
- 17,581
AEP report card
C-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth7.0%C
- Gross margin46.4%B
- Operating margin23.3%B
- FCF margin-10.7%F
- Return on equity10.1%C
- Net debt / EBITDA5.9xF
- Forward P/E18.9xB
- PEG ratio2.1xD
- Shareholder yield3.0%C
- Share count change / yr1.6%D
American Electric Power financials
Revenue went from $16.4B in fiscal 2016 to $21.7B in fiscal 2025, growing 3.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.4B | $15.4B | $16.2B | $15.6B | $14.9B | $16.8B | $19.4B | $19.5B | $20.0B | $21.7B |
| Operating income | $1.2B | $3.5B | $2.7B | $2.6B | $3.0B | $3.4B | $3.5B | $3.6B | $4.3B | $5.3B |
| Net income | $618.0M | $1.9B | $1.9B | $1.9B | $2.2B | $2.5B | $2.3B | $2.2B | $3.0B | $3.7B |
| EPS (diluted) | $1.24 | $3.88 | $3.90 | $3.88 | $4.42 | $4.96 | $4.49 | $4.24 | $5.58 | $6.66 |
| Free cash flow | $4.4B | $4.3B | $5.2B | $3.4B | $3.8B | — | — | $4.9B | $6.4B | $3.5B |
| Dividends paid | $1.1B | $1.2B | $1.3B | $1.4B | $1.4B | -$1.5B | $1.6B | $1.8B | $1.9B | $2.0B |
| Diluted shares | 491.7M | 492.6M | 493.8M | 495.3M | 497.2M | 501.8M | 513.5M | 520.2M | 531.3M | 537.5M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into AEP?
A reverse DCF asks what growth the current price requires. With an enterprise value of $123.5B and -$2.4B of trailing free cash flow, American Electric Power needs to grow free cash flow at a rate outside our model for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -7.7% a year over the last five years.
P/E ratio history
Current 19.5x vs. median 18.3x (10th–90th percentile 10.8x–23.3x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
AEP dividend
- Dividend yield
- 2.99%
- Annual dividend
- $3.88
- Years of increases
- 16
- 5-yr dividend growth
- 5.7%
- per year
- Payout ratio
- 66%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
AEP earnings
Next report: October 28, 2026. Last quarter's revenue was $5.4B (+7% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $1.48 | $1.36 | -8.2% |
| May 5, 2026 | $1.57 | $1.64 | +4.6% |
| Feb 12, 2026 | $1.15 | $1.19 | +3.6% |
| Oct 29, 2025 | $1.81 | $1.80 | -0.3% |
| Jul 30, 2025 | $1.27 | $1.43 | +12.8% |
| May 6, 2025 | $1.40 | $1.54 | +9.9% |
| Feb 13, 2025 | $1.24 | $1.24 | -0.2% |
| Nov 6, 2024 | $1.80 | $1.85 | +3.0% |
Stocks like AEP
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 SO Southern | -0.99% | -0% | $106.9B | 22.4x | Compare |
 DUK Duke Energy Corporation (Holdin | -0.33% | +2% | $97.4B | 18.8x | Compare |
 CEG Constellation Energy Corporatio | -0.69% | -30% | $89.8B | 24.8x | Compare |
 ETR Entergy | -0.79% | +15% | $51.3B | 27.5x | Compare |
 VST Vistra | -0.48% | -26% | $47.0B | 23.6x | Compare |
 EXC Exelon | -0.94% | -3% | $45.8B | 16.3x | Compare |
 WEC WEC Energy | -0.95% | -1% | $36.2B | 21.6x | Compare |
 PEG Public Service Enterprise | -0.96% | -10% | $35.9B | 17.9x | Compare |
AEP news
- What Does American Electric Power Company (AEP) Gain From Its 960 MW Nuclear Plan? · Oct 25, 2026
- American Electric Power (AEP) Crossed Above the 200-Day Moving Average: What That Means for Investors · Oct 23, 2026
- Ahead of AEP (AEP) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics · Oct 23, 2026
- Is American Electric Power Stock Increasing Your Market Risk? · Oct 23, 2026
- Earnings Preview: What to Expect From American Electric Power's Report · Oct 22, 2026
AEP stock FAQ
What is AEP's market cap?
American Electric Power's market capitalization is $70.60 billion as of October 23, 2026, ranking 179th in the S&P 500.
What is AEP's P/E ratio?
AEP trades at a trailing price-to-earnings ratio of 22.5x and a forward P/E of 18.9x. Its median P/E over the period we track is 18.3x.
Does AEP pay a dividend?
Yes. American Electric Power pays $3.88 per share a year, a 2.99% yield. It has raised its dividend 16 years in a row. Dividends grew 5.7% a year over the last five years.
How much has AEP stock returned?
Including reinvested dividends, AEP returned +15.1% over one year, +12.6% a year over five years, +11.4% a year over ten years through October 23, 2026.
When does AEP report earnings?
American Electric Power is expected to report earnings on October 28, 2026.
How many employees does American Electric Power have?
American Electric Power has about 17,581 full-time employees, or $1.3 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology