NRG Energy (NRG) stock
Utilities · Independent Power Producers & Energy Traders
NRG Energy (NRG) is an Independent Power Producers & Energy Traders company in the Utilities sector, headquartered in Houston, Texas. As of October 23, 2026, NRG closed at $92.31, a market capitalization of $19.40 billion, the 410th largest company in the S&P 500. Over the last twelve months it generated $33.12 billion in revenue (+11% year over year) and $316.00 million in free cash flow. The stock trades at 24.2x trailing earnings and 8.5x forward earnings.
- 1-year total return: -43.0% (dividends reinvested)
- 5-year return: +20.6% a year
- 52-week range: $90.80 – $189.96
- Gross margin 18.8%, operating margin 12.8%
- Dividend yield: 2.06%, 6 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 28th largest of 31 Utilities stocks in the S&P 500
NRG price chart
1Y price change: -43.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| NRG | -8.3% | -41.5% | -43.0% | +33.9% | +20.6% | +25.7% | +11.8% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2003.
NRG key statistics
- Market cap
- $19.4B
- #410 in S&P 500
- P/E (TTM)
- 24.2x
- Forward P/E
- 8.5x
- EPS (TTM)
- $3.82
- Revenue (TTM)
- $33.1B
- +11%
- Free cash flow
- $316.0M
- Gross margin
- 18.8%
- Operating margin
- 12.8%
- Return on equity
- 23.8%
- Dividend yield
- 2.06%
- 52-week range
- $90.80 – $189.96
- Beta
- 1.16
- Price / sales
- 0.6x
- EV / EBITDA
- 13.3x
- Debt / equity
- 4.83x
- Employees
- 16,702
NRG report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth11.0%B
- Gross margin18.8%D
- Operating margin12.8%C
- FCF margin1.0%D
- Return on equity23.8%B
- Net debt / EBITDA7.2xF
- Forward P/E8.5xA
- PEG ratio0.4xA
- Shareholder yield8.8%A
- Share count change / yr-4.2%A
NRG Energy financials
Revenue went from $8.9B in fiscal 2016 to $30.3B in fiscal 2025, growing 14.6% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.9B | $9.1B | $8.1B | $8.0B | $8.7B | $26.8B | $31.5B | $28.3B | $27.7B | $30.3B |
| Gross profit | $2.2B | $2.2B | $1.0B | $688.0M | $2.1B | — | — | — | — | — |
| Operating income | $33.0M | -$741.0M | $982.0M | $1.3B | $1.1B | $3.3B | $2.0B | $384.0M | $2.4B | $1.8B |
| Net income | -$774.0M | -$2.2B | $268.0M | $4.4B | $510.0M | $2.2B | $1.2B | -$202.0M | $1.1B | $864.0M |
| EPS (diluted) | $-2.22 | $-6.79 | $0.87 | $16.81 | $2.07 | $8.93 | $5.17 | $-1.12 | $4.99 | $4.01 |
| Free cash flow | $1.4B | $1.4B | $989.0M | $1.2B | $1.6B | $224.0M | -$7.0M | -$819.0M | $1.8B | $766.0M |
| Buybacks | $0 | $0 | $1.3B | $1.4B | $229.0M | $48.0M | $600.0M | $1.1B | $935.0M | $1.3B |
| Dividends paid | $76.0M | $38.0M | $37.0M | $32.0M | $295.0M | $319.0M | $332.0M | $381.0M | $405.0M | $411.0M |
| Diluted shares | 316.0M | 317.0M | 308.0M | 264.0M | 246.0M | 245.0M | 236.0M | 228.0M | 212.0M | 199.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into NRG?
A reverse DCF asks what growth the current price requires. With an enterprise value of $42.7B and $316.0M of trailing free cash flow, NRG Energy needs to grow free cash flow about 63.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -13.8% a year over the last five years.
P/E ratio history
Current 23.0x vs. median 18.5x (10th–90th percentile 4.0x–45.6x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
NRG dividend
- Dividend yield
- 2.06%
- Annual dividend
- $1.90
- Years of increases
- 6
- 5-yr dividend growth
- 8.0%
- per year
- Payout ratio
- 48%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
NRG analyst price targets
18 analysts' average 12-month target is $179.00 (+94% vs. $92.31). Targets range from $104.00 to $270.00. 83% rate it a buy.
NRG earnings
Next report: November 5, 2026. Last quarter's revenue was $7.5B (+11% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 4, 2026 | $1.74 | $1.49 | -14.4% |
| May 6, 2026 | $1.73 | $1.49 | -14.0% |
| Feb 24, 2026 | $0.89 | $1.04 | +16.4% |
| Nov 6, 2025 | $2.13 | $2.78 | +30.7% |
| Aug 6, 2025 | $1.65 | $1.73 | +5.0% |
| May 12, 2025 | $1.69 | $2.68 | +58.8% |
| Feb 26, 2025 | $0.94 | $1.52 | +61.8% |
| Nov 8, 2024 | $1.95 | $1.85 | -5.0% |
Stocks like NRG
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 AES AES | +0.20% | +11% | $10.7B | 5.6x | Compare |
 NEE NextEra Energy | +0.24% | +1% | $172.2B | 14.8x | Compare |
 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 |
 AEP American Electric Power | -0.73% | +15% | $70.6B | 22.5x | Compare |
 D Dominion Energy | -0.31% | +12% | $57.3B | 22.6x | Compare |
 SRE DBA Sempra | -0.84% | -6% | $55.0B | 24.3x | Compare |
NRG news
- What NRG Energy Bears Spotted Before The Slide · Oct 25, 2026
- NRG Energy (NRG) Exceeds Market Returns: Some Facts to Consider · Oct 21, 2026
- Brokers Suggest Investing in NRG (NRG): Read This Before Placing a Bet · Oct 21, 2026
- Investors Heavily Search NRG Energy, Inc. (NRG): Here is What You Need to Know · Oct 21, 2026
- NRG Energy (NRG) Stock Slides as Market Rises: Facts to Know Before You Trade · Oct 20, 2026
NRG stock FAQ
What is NRG's market cap?
NRG Energy's market capitalization is $19.40 billion as of October 23, 2026, ranking 410th in the S&P 500.
What is NRG's P/E ratio?
NRG trades at a trailing price-to-earnings ratio of 24.2x and a forward P/E of 8.5x. Its median P/E over the period we track is 18.5x.
Does NRG pay a dividend?
Yes. NRG Energy pays $1.90 per share a year, a 2.06% yield. It has raised its dividend 6 years in a row. Dividends grew 8.0% a year over the last five years.
How much has NRG stock returned?
Including reinvested dividends, NRG returned -43.0% over one year, +20.6% a year over five years, +25.7% a year over ten years through October 23, 2026.
Is NRG stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies NRG Energy must grow free cash flow about 63% a year for the next decade. Its free cash flow fell 14% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the NRG price target?
18 analysts cover NRG with an average 12-month price target of $179.00, +94% from the current price. 83% of them rate it a buy.
When does NRG report earnings?
NRG Energy is expected to report earnings on November 5, 2026.
How many employees does NRG Energy have?
NRG Energy has about 16,702 full-time employees, or $2.0 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology