公司概述
Emera Incorporated operates as a diversified energy and services company, primarily engaged in the generation, transmission, and distribution of electricity across the United States, Canada, Barbados, and the Bahamas. The firm functions within the Utilities sector, specifically the Regulated Electric industry, a classification that typically implies operations subject to government oversight regarding rates and service obligations. As of the latest data, the company holds a market capitalization of $16.10B and generates annual revenue of $8.78B, employing a workforce of 7,812 individuals. These valuation and revenue figures indicate that Emera maintains a substantial market presence within the utility landscape, reflecting its status as a significant player in the regional energy infrastructure.
财务健康
Emera Incorporated reported a trailing twelve-month revenue of $8.78B and net income of $1.01B, while generating an EBITDA of $3.37B. The substantial gap between the $8.78B revenue and $1.01B net income reveals a cost structure heavily influenced by significant operating expenses and depreciation charges inherent to utility operations. The company's free cash flow stands at -$1,922,875,008, indicating a current cash outflow that constrains immediate financial flexibility and suggests capital allocation toward maintenance or expansion exceeding operational cash generation. In terms of profitability margins, the gross margin is 43.8%, the operating margin is 13.9%, and the profit margin is 12.4%; these levels indicate moderate pricing power and efficient cost management relative to the capital-intensive nature of the regulated electric industry. Regarding the balance sheet, Emera holds $349.00M in cash against $21.58B in debt, resulting in a debt-to-equity ratio of 161.12%, which characterizes the balance sheet as highly leveraged rather than conservative. The current ratio is 0.66, a metric that indicates potential short-term liquidity constraints, as current assets do not fully cover current liabilities without relying on external financing or asset sales. Return on Equity is 8.2% and Return on Assets is 3.0%, metrics that reveal that management effectiveness in generating returns from shareholder equity and total assets remains moderate within the context of high leverage.
估值评估
The trailing twelve-month P/E ratio is 21.80, while the forward P/E ratio is 20.24, implying that the market expects earnings to improve slightly in the near future relative to current performance. The price-to-book ratio stands at 1.86, indicating that the market values the company at a premium of 86% over its book value, which often reflects the intangible value of regulated franchise territories and stable cash flows. Alternative valuation metrics such as the price-to-sales ratio of 1.83 and the EV/EBITDA of 11.50 suggest that the stock is priced at levels consistent with peers in the utilities sector, though the high enterprise value relative to EBITDA warrants attention to debt obligations. The 52-week high is $53.91 and the 52-week low is $40.07, providing a range within which the stock trades; without a specific current price provided in the facts, the valuation relative to this historical range remains a key consideration for risk assessment. The beta is 0.46, a figure that signifies the stock exhibits significantly lower price volatility relative to the broader market, offering a defensive characteristic typical of utility equities during periods of market fluctuation.
Growth & Income
Emera Incorporated experienced a revenue growth rate of 13.8% year over year, whereas earnings growth was negative at -56.9% year over year, indicating that earnings are growing much slower than revenue and suggesting a decline in profitability efficiency or one-time charges impacting the bottom line. As a dividend payer, the company offers a dividend yield of 4.0% with a payout ratio of 86.0%, a high percentage that suggests the dividend may be less sustainable given the negative free cash flow and the sharp decline in reported earnings. The combination of strong revenue expansion alongside deteriorating earnings and a high payout ratio presents a complex growth and income profile where income is prioritized despite earnings contraction. The overall profile reflects a mature utility company delivering consistent income yield but facing challenges in earnings expansion and capital conservation.