Overview
AMERICAN ELECTRIC POWER CO INC
Latest 10-K: FY2025 · Open the 10-K on SEC EDGAR ↗
- Revenue
- $21.88B
- 10.9%YoYup from FY2024
- TotalRevenue
- Gross profit
- $14.85B
- 7.7%YoYup from FY2024
- GrossProfit
- Operating income
- $5.32B
- 23.6%YoYup from FY2024
- OperatingIncome
- Net income
- $3.58B
- 20.7%YoYup from FY2024
- NetIncome
- Diluted EPS
- $6.66
- 19.4%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 537.5M
- 1.2%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- AMERICAN ELECTRIC POWER CO INC reported revenue of $21.88B for fiscal 2025, up 10.9% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 2 of the last 5 fiscal years.
Profitability
- Operating margin was 24.3% and net margin was 16.4%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $6.66, up 19.4% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $21.88B10.9%up Benchmark median 6.4% | $19.72B3.9%up Benchmark median 4.5% | $18.98B3.3%down Benchmark median 4.8% | $19.64B17.0%up Benchmark median 10.3% | $16.79B12.6%up Benchmark median 13.8% | 6.8% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $14.85B7.7%up Benchmark median 6.8% | $13.79B11.1%up Benchmark median 5.5% | $12.40B1.1%down Benchmark median 5.2% | $12.54B Benchmark median 8.3% | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $5.32B23.6%up Benchmark median 7.3% | $4.30B21.0%up Benchmark median 7.4% | $3.56B2.1%up Benchmark median 4.9% | $3.48B2.1%up Benchmark median 7.5% | $3.41B14.2%up Benchmark median 23.5% | 11.7% Benchmark median 7.2% |
| Net Income | $3.58B§20.7%up Benchmark median 4.8% | $2.97B§34.4%up Benchmark median 5.7% | $2.21B§4.3%down Benchmark median 1.9% | $2.31B§7.3%down Benchmark median 1.3% | $2.49B§13.1%up Benchmark median 33.9% | 9.5% Benchmark median 4.1% |
| EPS (Diluted) | $6.6619.4%up Benchmark median 6.2% | $5.5831.6%up Benchmark median 7.9% | $4.245.6%down Benchmark median 1.9% | $4.499.5%down Benchmark median 1.5% | $4.9612.2%up Benchmark median 34.8% | 7.6% Benchmark median 5.6% |
§ Net income available to common stockholders; the company files no net-income line.
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $114.46B11.0%up Benchmark median 5.6% | $103.08B6.6%up Benchmark median 3.4% | $96.68B3.5%up Benchmark median 4.1% | $93.40B6.5%up Benchmark median 2.2% | $87.67B8.6%up Benchmark median 6.7% | 6.9% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $82.20B8.1%up Benchmark median 6.4% | $76.05B6.6%up Benchmark median 1.9% | $71.36B3.1%up Benchmark median 2.9% | $69.23B6.6%up Benchmark median 2.0% | $64.95B8.4%up Benchmark median 5.2% | 6.1% Benchmark median 4.4% |
| Stockholders' Equity | $32.22B19.4%up Benchmark median 6.8% | $26.99B6.7%up Benchmark median 5.4% | $25.29B4.8%up Benchmark median 7.3% | $24.12B6.4%up Benchmark median 2.5% | $22.68B9.2%up Benchmark median 9.0% | 9.2% Benchmark median 6.1% |
| Cash & Equivalents | $197.00M3.0%down Benchmark median 5.2% | $203.00M38.5%down Benchmark median 1.9% | $330.10M35.2%down Benchmark median 6.7% | $509.40M26.3%up Benchmark median -8.6% | $403.40M2.7%up Benchmark median -2.9% | -16.4% Benchmark median 2.0% |
| Total Debt | $47.93B8.3%up Benchmark median 2.1% | $44.26B5.2%up Benchmark median 0.2% | $42.08B6.1%up Benchmark median 0.3% | $39.66B13.9%up Benchmark median 0.1% | $34.82B5.8%up Benchmark median -0.1% | 8.3% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $6.94B2.1%up Benchmark median 6.3% | $6.80B35.8%up Benchmark median 4.8% | $5.01B5.2%down Benchmark median 9.9% | $5.29B37.7%up Benchmark median -0.7% | $3.84B0.2%up Benchmark median 10.7% | 16.0% Benchmark median 7.0% |
| Capital Expenditures | $3.45B765.4%up Benchmark median 5.4% | $0.40B157.4%up Benchmark median 2.8% | $0.15B Benchmark median 11.3% | — | — | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $3.49B45.5%down Benchmark median 7.3% | $6.41B31.9%up Benchmark median 6.1% | $4.86B Benchmark median 8.8% | — | — | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
5.8%
Wall Street
on net earnings
FY2024 6.1%
5.6%
Value investor
on free cash flow
FY2024 13.1%
Gap −0.2 pts: Value-investor figure 0.2 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 17.3×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
7.8%
Wall Street
on EBITDA
FY2024 7.9%
4.8%
Value investor
on EBIT
FY2024 4.6%
Gap −3.0 pts: Value-investor figure 3.0 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 12.8×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
52.0%
Wall Street
on book equity
FY2024 55.1%
51.9%
Value investor
on tangible book
FY2024 55.0%
Gap −0.1 pts: Value-investor figure 0.1 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 1.9×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
12.1%
Wall Street
ROE: net income ÷ equity
FY2024 11.4%
4.9%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 4.5%
Gap −7.2 pts: Value-investor figure 7.2 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
39.5%
Wall Street
EBITDA margin
FY2024 37.8%
16.0%
Value investor
Free-cash-flow margin
FY2024 32.5%
Gap −23.5 pts: Value-investor figure 23.5 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
0.45×
Wall Street
Current ratio
FY2024 0.44×
0.45×
Value investor
Quick ratio, inventory excluded
FY2024 0.44×
Gap Same: Both views read the same
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.18×
Wall Street
EBITDA ÷ total debt
FY2024 0.17×
0.07×
Value investor
FCF ÷ total debt
FY2024 0.14×
Gap −0.11×: Value-investor figure 0.11 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 5.60×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
4.3×
Wall Street
EBITDA ÷ interest
FY2024 4.0×
2.6×
Value investor
EBIT ÷ interest
FY2024 2.3×
Gap −1.7×: Value-investor figure 1.7 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on AEP yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on AEP and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/AEP
Valuein. (2026, October 31). AMERICAN ELECTRIC POWER CO INC (AEP) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/AEP
@misc{valuein_aep_2026,
author = {{Valuein}},
title = {AMERICAN ELECTRIC POWER CO INC (AEP) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/AEP}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 25, 2011 · accession 0000004904-11-000023
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point-in-time · survivorship-free · every number traceable to its SEC filing
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