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NRG ENERGY, INC. (NRG)

As-reported financials and recent SEC filings for NRG ENERGY, INC., latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About NRG ENERGY, INC.

NRG Energy, Inc. provides electricity, natural gas, and smart-home technology solutions to about 8 million residential customers and various commercial, industrial, data center, and wholesale clients across North America. The company operates competitive power generation facilities, primarily in Texas, and sells electricity and natural gas in multiple U.S. states and Canadian provinces. NRG also offers smart home security and automation services through its Vivint Smart Home segment.

Snapshot

Revenue
$30.35B
Revenue growth (YoY)
9.4%
Net income
$864.0M
Diluted EPS
$4.01
Gross margin
Operating margin
6.1%
Net margin
2.8%
FCF margin
2.5%
ROE
51.4%
P/E (TTM)
148.4×
Market cap
Debt / equity
9.8×

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at Nrg Energy

  • Revenue grew 9.4% to $30.3B in FY2025, after a 1.8% decline the year before.
  • Operating margin is 6.1% in FY2025, -6.4 pp against 12.5% in FY2021.
  • Most recent quarter Q1 FY2026: revenue $10.1B, up 19.4% from Q1 FY2025.
  • Free cash flow was $766M in FY2025, 2.5% of revenue.
  • Net income fell 23.2% to $864M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Nrg Energy’s fundamentals sit among the 98 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin6.1%
16th percentile of 86
Net margin2.8%
18th percentile of 91
FCF margin2.5%
63rd percentile of 76
Revenue growth (YoY)+9.4%
52nd percentile of 94
ROE51.4%
Highest of 89
P/E (TTM)148.4×
96th percentile of 83
Debt / equity9.76×
Highest of 84
Short interest3.61d
28th percentile of 98

Nrg Energy’s return on equity of 51.4% is the highest of the 89 Utilities companies reporting it. Nrg Energy’s debt to equity of 9.76 is the highest of the 84 Utilities companies reporting it. Nrg Energy’s P/E of 148.4 ranks in the 96th percentile of the 83 peers with a meaningful P/E.

No open-market insider buys in the last 90 days; 2 insider sales totaling $4.1M. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 4 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
4
+6 quant / multi-strat
Initiated / added
7
2 new, 5 added
Reduced / exited
5
3 trimmed, 2 exited
Combined position
$902.9M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ1 2026$290.2M2.0MAdded
AppaloosaQ1 2026$253.5M1.7MAdded
D. E. ShawquantQ1 2026$139.5M954.3KReduced
Bridgewater AssociatesQ1 2026$86.0M588.5KAdded
Point72 Asset ManagementquantQ1 2026$40.2M274.8KAdded
Citadel AdvisorsquantQ1 2026$39.6M271.2KReduced
Gotham Asset ManagementQ1 2026$28.5M195.4KReduced
AQR Capital ManagementquantQ1 2026$23.1M159.5KAdded
Maverick CapitalQ1 2026$1.5M10.5KNew
Two Sigma InvestmentsquantQ1 2026$818,8225.6KNew

No longer held by: Polen Capital Management (as of Q1 2026), Renaissance Technologies (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
open-market
Bought (90d)
open-market value
Sells (90d)
2
$4.1M
Signal
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-07-15
filed 2026-07-17
Kinney VirginiaExec VP, Chief Admin OfficerSell11.1K$140.64$1.6M
2026-06-15
filed 2026-06-17
Kinney VirginiaExec VP, Chief Admin OfficerSell20.0K$127.52$2.6M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
7.7M
settled 2026-07-15
Change vs prior
-5.5%
vs previous settlement
Days to cover
3.61
at avg daily volume
Avg daily volume
2.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-157.7M-5.5%3.61
2026-06-308.1M+62.3%2.46
2026-06-155.0M-0.8%2.20
2026-05-295.0M+24.0%1.79
2026-05-154.1M-13.6%1.31
2026-04-304.7M-6.2%1.72
2026-04-155.0M+17.9%2.11
2026-03-314.2M+3.7%1.77

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$30.35B$27.75B$28.26B$31.49B$26.78B
Gross profit
Operating income$1.84B$2.42B$384.0M$2.02B$3.34B
Net income$864.0M$1.13B$-202.0M$1.22B$2.19B
Diluted EPS$4.01$4.99$-1.12$5.17$8.93

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.91B$2.31B$-221.0M$360.0M$493.0M
Capital expenditure$1.15B$472.0M$598.0M$367.0M$269.0M
Free cash flow$766.0M$1.83B$-819.0M$-7.0M$224.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$10.14B19.4%$125.0M$0.52
Q4 FY2025$7.68B13.6%$66.0M$0.34
Q3 FY2025$7.50B5.3%$152.0M$0.69
Q2 FY2025$6.67B3.0%$-104.0M$-0.62
Q1 FY2025$8.49B15.0%$750.0M$3.61
Q4 FY2024$6.76B1.5%$643.0M$3.08
Q3 FY2024$7.13B-9.3%$-767.0M$-3.79
Q2 FY2024$6.48B4.2%$738.0M$3.37

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryElectric Services
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2018
SEC CIK1013871

Recent SEC filings

10-K2026-02-24
View on EDGAR →
10-K2025-02-26
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
10-Q2025-11-06
View on EDGAR →
10-Q2025-08-06
View on EDGAR →
10-Q2025-05-12
View on EDGAR →
8-K2026-07-15
View on EDGAR →
8-K2026-05-21
View on EDGAR →

Largest Utilities peers

All Utilities companies →

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.