Consolidated Edison Inc (ED)

Consolidated Edison, Inc., through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,490 customers in parts of Manhattan. It also supplies electricity to approximately 0.3 million customers in southeastern New York and northern New Jersey; and gas to approximately 0.1 million customers in southeastern New York. In addition, the company operates 552 circuit miles of transmission lines; 16 transmission substations; 63 distribution substations; 89,675 in-service line transformers; 3,764 pole miles of overhead distribution lines; and 2,417 miles of underground distribution lines, as well as 4,374 miles of mains and 379, 939 service lines for natural gas distribution. Further, it invests in electric and gas transmission projects. The company primarily sells electricity to industrial, commercial, residential, and government customers. Consolidated Edison, Inc. was founded in 1823 and is based in New York, New York.

Symbol: ED
Exchange: NYSE
Sector: Utilities
Industry: Utilities - Regulated Electric
Market cap: $37.53B
52 week range: 94.96 - 116.23

Valuation

Share price: $103.39 (close of 2026-10-02)
P/E (TTM): 17.38x
Price to book: 1.47x
Price to free cash flow: 9.07x
Enterprise value: $64.56B
Book value per share: $70.51

Price performance

Period	Change
1 day	-0.11%
5 days	+0.28%
1 month	-3.98%
3 months	-9.30%
6 months	-10.43%
Year to date	+4.10%
1 year	+5.89%
3 years	+26.67%
5 years	+44.40%
10 years	+37.30%
All time	+1431.70%

Members of Congress who disclosed ED trades

Robert Bresnahan

Super investors holding ED

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates)

Profitability and growth

Return on equity: 8.36%
Return on invested capital: 4.64%
Return on assets: 2.71%
Return on capital employed: 4.32%
Gross margin: 17.22%
Net margin: 11.87%
EBITDA margin: 30.83%
Revenue growth: 10.21%
Net income growth: 11.15%
Free cash flow growth: 32.82%

Cash flow and balance sheet

Free cash flow yield (TTM): 11.02%
Current ratio: 1.19x
Net debt to EBITDA: 4.26x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $17.05B
Cost of revenue: $14.11B
Gross profit: $2.94B
EBITDA: $5.26B
Net income: $2.02B
Earnings per share: $5.66
Interest expense: $1.23B
Shares outstanding: 357.40M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$17.05B	$2.94B	$2.02B	$5.66
2024-12-31	$15.47B	$2.67B	$1.82B	$5.26
2023-12-31	$14.48B	$3.20B	$2.52B	$7.25
2022-12-31	$15.46B	$2.65B	$1.66B	$4.68
2021-12-31	$13.46B	$2.85B	$1.35B	$3.86
2020-12-31	$12.03B	$2.68B	$1.10B	$3.29
2019-12-31	$12.14B	$2.70B	$1.34B	$4.09
2018-12-31	$11.93B	$2.69B	$1.38B	$4.43
2017-12-31	$12.03B	$2.80B	$1.52B	$4.97
2016-12-31	$12.07B	$2.80B	$1.25B	$4.15

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	17.22%	11.87%	8.36%	4.64%
2024-12-31	17.26%	11.77%	8.29%	4.85%
2023-12-31	22.08%	17.40%	11.91%	6.02%
2022-12-31	17.15%	10.74%	7.95%	4.83%
2021-12-31	21.19%	10.00%	6.62%	6.10%
2020-12-31	22.27%	9.16%	5.77%	6.25%
2019-12-31	22.23%	11.06%	7.37%	6.25%
2018-12-31	22.54%	11.59%	8.21%	6.64%
2017-12-31	23.25%	12.67%	9.89%	7.51%
2016-12-31	23.22%	10.31%	8.70%	7.36%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$1.63B	$25.55B
2024-12-31	$1.32B	$24.71B
2023-12-31	$1.19B	$21.99B
2022-12-31	$1.28B	$22.44B
2021-12-31	$992.00M	$22.60B
2020-12-31	$1.27B	$20.38B
2019-12-31	$981.00M	$18.53B
2018-12-31	$895.00M	$17.50B
2017-12-31	$797.00M	$14.73B
2016-12-31	$776.00M	$14.73B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$4.80B	$55.00M
2024-12-31	$3.61B	$35.00M
2023-12-31	$2.16B	$53.00M
2022-12-31	-$530.00M	$64.00M
2021-12-31	-$1.23B	$35.00M
2020-12-31	-$1.89B	$17.00M
2019-12-31	-$542.00M	$47.00M
2018-12-31	-$2.55B	$14.00M
2017-12-31	-$239.00M	$63.00M
2016-12-31	-$1.78B	$50.00M

Dividend history

Most recent payment: 2026-08-19
Paid in the last twelve months: $3.51

Payment date	Dividend per share
2026-08-19	$0.89
2026-05-13	$0.89
2026-02-18	$0.89
2025-11-19	$0.85
2025-08-13	$0.85
2025-05-14	$0.85
2025-02-19	$0.85
2024-11-13	$0.83

Investor relations

Next earnings report

Next confirmed report: 2026-11-05
Consensus EPS estimate: $2.12

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-06	Jun/2026	$0.74
2026-05-07	Mar/2026	$2.32
2026-02-19	Dec/2025	$0.84
2025-11-06	Sep/2025	$1.76
2025-08-07	Jun/2025	$0.66
2025-05-01	Mar/2025	$2.30
2025-02-20	Dec/2024	$0.97
2025-02-13	-	-

Filings and sources

Company website: conedison.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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