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EVRG

Evergy, Inc.

EVRG

Evergy, Inc. • NASDAQ
$77.65 ▲ 0.70% (+0.54)
Market Cap $17.88 B
52w High $79.32
52w Low $59.67
Dividend Yield 2.70%
P/E 21.27
Volume 509.96K
Outstanding Shares 230.21M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.796B ▲ $104.5M ▲ $475M ▲ 26.449% ▲ $2.06 ▲ $946.3M ▲
Q2-2025 $1.427B ▲ $104.4M ▼ $171.3M ▲ 12.005% ▲ $0.74 ▲ $641M ▲
Q1-2025 $1.369B ▲ $111.1M ▲ $125M ▲ 9.132% ▲ $0.54 ▲ $592.9M ▲
Q4-2024 $1.213B ▼ $109.3M ▼ $78.2M ▼ 6.446% ▼ $0.34 ▼ $508.9M ▼
Q3-2024 $1.822B $116.6M $465.6M 25.552% $2.02 $928.5M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $41.9M ▲ $33.44B ▲ $23.108B ▲ $10.289B ▲
Q2-2025 $27.8M ▼ $32.911B ▲ $22.912B ▲ $9.959B ▲
Q1-2025 $35.3M ▲ $32.454B ▲ $22.486B ▲ $9.931B ▼
Q4-2024 $22M ▼ $32.282B ▲ $22.293B ▲ $9.955B ▼
Q3-2024 $34.6M $32.146B $22.09B $10.025B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $174.4M ▲ $323.9M ▼ $-636.5M ▼ $295.4M ▲ $-17.2M ▼ $-303.4M ▼
Q1-2025 $128.1M ▲ $449.6M ▲ $-598.9M ▼ $171.6M ▲ $22.3M ▲ $-143.2M ▼
Q4-2024 $78.2M ▼ $395.6M ▼ $-471.5M ▲ $49.1M ▲ $-26.8M ▼ $-118.6M ▼
Q3-2024 $468.6M ▲ $953.3M ▲ $-520.2M ▲ $-411.9M ▼ $21.2M ▲ $427M ▲
Q2-2024 $207M $317.5M $-686.9M $339.5M $-29.9M $-360M

Revenue by Products

Product Q3-2017Q4-2017Q1-2018Q2-2018
Electric Utility Segment
Electric Utility Segment
 $860.00M ▲$600.00M ▼$560.00M ▼$7.58Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Evergy’s income statement shows the profile of a mature, fairly stable utility that has been able to gently grow profits over time. Revenue has trended upward overall, with only minor bumps, suggesting a steady customer base and gradual rate and volume increases. Profitability has held up reasonably well despite the energy transition, with operating profit and earnings both moving higher over the multi‑year period. Net income has grown, but not explosively, which is typical for a regulated electric utility where returns are capped by regulators. Overall, earnings look consistent rather than cyclical, with modest improvement over time and no obvious signs of stress in recent years.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive utility steadily building out its network. Total assets have climbed each year, showing ongoing investment in power plants, grids, and related infrastructure. Debt has also risen meaningfully, which is normal for this type of business but does mean leverage is gradually increasing. Shareholders’ equity is growing as well, though at a slower pace than debt, indicating that the company is leaning more on borrowing to fund its plans. Cash on hand is minimal, which is typical for a regulated utility that relies on stable cash inflows rather than large cash reserves. Overall, the balance sheet shows a large, embedded asset base financed by a mix of equity and substantial but manageable debt.

Cash Flow

Cash Flow Evergy’s cash flow picture is shaped by heavy investment. Cash generated from day‑to‑day operations has been solid and generally improving, which supports the view that the underlying business is stable. However, capital spending has been consistently high as the company modernizes its grid and shifts its generation mix. As a result, free cash flow has been negative in most recent years, meaning more cash is going out for investments than coming in from operations after those investments. This pattern is typical for a utility in a build‑out phase, but it implies ongoing reliance on external financing—mainly debt and, at times, equity—to fund growth and maintenance projects.

Competitive Edge

Competitive Edge Evergy operates with a strong structural advantage as a regulated monopoly in its service territories in Kansas and Missouri. This gives it a captive customer base and relatively predictable earnings, as regulators allow it to earn a set return on approved investments. High barriers to entry—such as the cost and complexity of building generation and transmission, plus regulatory approvals—make direct competition unlikely. At the same time, this model limits upside because pricing and returns are tightly overseen by state commissions. The main competitive risks are not from new entrants but from regulatory decisions, political pressure around customer bills, and shifts in energy policy. Within these constraints, Evergy appears well‑positioned as a key regional electricity provider.

Innovation and R&D

Innovation and R&D While utilities do not typically spend heavily on traditional R&D, Evergy is clearly leaning into innovation in how it generates and delivers power. The company is pursuing large‑scale grid modernization, including automation and smarter monitoring to improve reliability and cut outage times. It is also transitioning its generation mix with more wind and solar, planning substantial additions over time while phasing down coal. New natural gas plants designed to be compatible with future hydrogen use show a longer‑term view of decarbonization. On the customer side, programs like solar subscriptions, home battery pilots, demand response incentives, and energy‑efficiency rebates indicate a push to engage customers and manage demand more intelligently. The opportunity is a more resilient, cleaner, and flexible system; the risk lies in execution, cost management, and securing supportive regulatory treatment for these investments.

Summary

Evergy looks like a classic regulated electric utility that is in the middle of a major modernization and clean‑energy push. Its income statement reflects steady revenue and earnings with modest growth, consistent with the regulated nature of the business. The balance sheet is asset‑heavy and increasingly debt‑funded, which is typical for large utilities but worth watching as investment continues. Cash flows from operations are solid, but heavy capital spending is driving negative free cash flow, underscoring reliance on external financing. Competitively, Evergy benefits from a protected service territory, high barriers to entry, and predictable regulation, though its returns are constrained by that same framework. Its innovation efforts—in grid upgrades, renewables, hydrogen‑ready generation, and customer programs—position it for the energy transition, but they also introduce execution and regulatory risks. Overall, Evergy appears financially stable with a clear, investment‑intensive strategy focused on reliability, decarbonization, and customer engagement within a regulated utility model.

NEWS

November 6, 2025 · 7:00 AM UTC

Evergy Announces Third Quarter 2025 Results, Increases Quarterly Dividend and Narrows 2025 Guidance

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September 23, 2025 · 3:00 PM UTC

TerraPower, Evergy and the State of Kansas Announce Agreement to Explore Advanced Nuclear Energy Deployment

Read more