Bedrijfsoverzicht
Consolidated Edison, Inc. is a major player in the utilities sector, specifically within the regulated electric industry, providing essential energy infrastructure services across the United States. Through its extensive network of subsidiaries, the firm operates regulated delivery businesses for electricity, natural gas, and steam, serving a substantial customer base that includes approximately 3.7 million electric customers in New York City and Westchester County, alongside about 1.1 million gas customers. The company's scale is defined by a market capitalization of $41.84 billion and an annual revenue (TTM) of $16.92 billion, supported by a workforce of 15,407 employees. These financial figures indicate that Consolidated Edison operates as a large-cap entity with significant revenue generation capabilities, reflecting its dominant position in the regulated utility market where infrastructure assets generate consistent cash flows to support operations and shareholder returns.
Financiële gezondheid
Consolidated Edison reported a total revenue of $16.92 billion over the trailing twelve months, with a net income of $2.02 billion and an EBITDA of $6.02 billion, highlighting a distinct gap between gross revenue and bottom-line profit that underscores the substantial cost structure inherent in utility operations. This revenue-to-net-income disparity reveals that while the company generates massive top-line sales, a significant portion is consumed by operating expenses, taxes, and interest costs before reaching the net profit line. The company's financial flexibility is currently constrained by a reported free cash flow of negative $145,250,000, which suggests that capital expenditures and operational outflows have temporarily exceeded cash generated from core activities. Despite this negative cash flow metric, the balance sheet holds $1.63 billion in cash against $28.38 billion in total debt, resulting in a debt-to-equity ratio of 117.32, which indicates a highly leveraged capital structure typical of capital-intensive regulated utilities. Liquidity for short-term obligations is maintained at a current ratio of 1.02, suggesting that current assets are just sufficient to cover current liabilities without a significant safety margin. Return on equity stands at 8.8% while return on assets is 3.2%, metrics that reflect the capital efficiency of management in generating profits relative to the shareholder equity and total asset base respectively.
Waarderingsbeoordeling
The valuation profile is characterized by a trailing P/E ratio of 20.13 and a forward P/E of 17.52, implying that the market expects earnings growth in the future that would lower the multiple from current historical levels. The price-to-book ratio is recorded at 1.70, indicating that the market values the company at a premium of 70% over its net asset book value, a common feature for regulated monopolies with stable cash flows. Alternative valuation metrics include a price-to-sales ratio of 2.47 and an EV/EBITDA of 11.25, which provide context for the company's valuation relative to its sales revenue and earnings before interest, taxes, depreciation, and amortization. Regarding price volatility and trading range, the 52-week high is $116.23 and the low is $94.96; without a specific current price provided in the source data, the exact position within this range cannot be calculated, but the beta of 0.34 indicates that the stock exhibits significantly lower volatility than the broader market, moving with roughly one-third of the intensity of the overall market index.
Growth & Income
Growth dynamics show a revenue growth year-over-year of 8.9% contrasted against an earnings growth year-over-year of -8.3%, revealing that earnings are currently growing slower than revenue, a divergence often seen during periods of high reinvestment or temporary margin compression. As a consistent dividend payer, the company offers a dividend yield of 3.0% with a payout ratio of 60.3%, a level that suggests the dividend is funded by a majority of net income and appears sustainable given the stable earnings environment of the regulated utility sector. Since the earnings growth rate is negative while revenue expands, the payout ratio must be monitored closely to ensure that dividend distributions do not exceed the capacity to cover them from operating profits. The overall growth and income profile presents a mix of steady top-line expansion from a growing customer base against a backdrop of declining earnings and negative free cash flow, while maintaining a robust dividend yield that appeals to income-focused investors seeking lower volatility exposure.