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NRG

NRG Energy, Inc.

NRG

NRG Energy, Inc. • NYSE
$169.49 ▲ 0.56% (+0.95)
Market Cap $32.48 B
52w High $180.54
52w Low $79.57
Dividend Yield 1.76%
P/E 25.33
Volume 944.73K
Outstanding Shares 191.64M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.635B ▲ $612M ▼ $152M ▲ 1.991% ▲ $0.7 ▲ $786M ▲
Q2-2025 $6.74B ▼ $1.068B ▲ $-104M ▼ -1.543% ▼ $-0.62 ▼ $339M ▼
Q1-2025 $8.585B ▲ $890M ▼ $750M ▲ 8.736% ▼ $3.7 ▲ $1.474B ▲
Q4-2024 $6.819B ▼ $994M ▲ $643M ▲ 9.43% ▲ $3.09 ▲ $1.196B ▲
Q3-2024 $7.223B $796M $-767M -10.619% $-3.79 $-449M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.69B ▲ $23.971B ▼ $22.001B ▲ $1.97B ▼
Q2-2025 $180M ▼ $24.088B ▼ $21.8B ▼ $2.288B ▼
Q1-2025 $693M ▼ $24.991B ▲ $22.214B ▲ $2.777B ▲
Q4-2024 $966M ▼ $24.022B ▲ $21.544B ▲ $2.478B ▼
Q3-2024 $1.104B $23.724B $21.204B $2.52B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $152M ▲ $484M ▲ $-258M ▲ $215M ▲ $888M ▲ $230M ▲
Q2-2025 $-104M ▼ $451M ▼ $-948M ▼ $-297M ▲ $-511M ▼ $73M ▼
Q1-2025 $750M ▲ $855M ▼ $-134M ▲ $-458M ▲ $-266M ▼ $638M ▼
Q4-2024 $643M ▲ $952M ▲ $-187M ▼ $-714M ▼ $-140M ▼ $766M ▲
Q3-2024 $-767M $31M $364M $-350M $722M $-83M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
East Segment
East Segment
 $5.59Bn ▲$4.58Bn ▼$2.74Bn ▼$3.03Bn ▲
Texas Segment
Texas Segment
 $5.12Bn ▲$2.44Bn ▼$2.85Bn ▲$3.38Bn ▲
Vivint Smart Home Segment
Vivint Smart Home Segment
 $960.00M ▲$490.00M ▼$500.00M ▲$530.00M ▲
West Services and Other Segment
West Services and Other Segment
 $1.83Bn ▲$1.10Bn ▼$680.00M ▼$710.00M ▲

Five-Year Company Overview

Income Statement

Income Statement NRG’s income statement shows a business with meaningful scale but noticeable earnings volatility. Revenue has stayed high over the last few years, but profits have swung sharply, with a weak, loss-making year recently followed by a strong rebound in operating income and net income. This pattern suggests exposure to power price swings, weather events, and one‑off items like integration and hedging impacts. The latest year looks healthier, with much better margins than the prior year, but the track record reminds readers that results can change quickly in this type of business.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive company that relies heavily on debt. Total assets have edged down from prior peaks, hinting at portfolio reshaping and possibly some de‑leveraging, but debt remains sizable and equity is a relatively small slice of the capital structure. Cash on hand is modest compared with total obligations, which is common in this sector but still leaves limited room for error if markets turn. Overall, NRG carries a fairly leveraged profile, so its financial health depends on maintaining solid operating performance and access to credit markets.

Cash Flow

Cash Flow Cash flow has been as choppy as earnings, with a recent year of negative operating cash followed by a strong positive snap‑back. Free cash flow dipped around the middle of the period, then turned clearly positive again most recently, helped by disciplined, relatively modest capital spending. This shows the business can generate meaningful excess cash in normal conditions, but working capital swings and market volatility can disrupt that picture in any given year. The recent improvement is encouraging, yet the trend over time points to a need for careful cash and risk management.

Competitive Edge

Competitive Edge NRG sits in a relatively strong competitive spot among independent power producers by combining generation, retail energy sales, and now smart home services under one roof. Its scale, fuel diversity, and focus on large, fast‑growing markets like Texas provide cost advantages and access to attractive demand. Bundling electricity with smart home and security offerings can deepen customer relationships and reduce churn, which is a key edge versus pure commodity power retailers. At the same time, NRG still faces intense competition in retail power, exposure to commodity and weather volatility, and regulatory and policy uncertainty around the energy transition.

Innovation and R&D

Innovation and R&D For a power company, NRG is leaning unusually hard into technology and data. The Vivint Smart Home acquisition gives it a broad suite of connected devices and opens the door to integrated energy‑plus‑smart‑home offerings, creating a more “sticky” relationship with customers. Its work on AI‑driven virtual power plants—using smart thermostats and other devices to shape demand—could become a meaningful differentiator if scaled and monetized effectively. Targeted solutions for data centers and the use of AI in operations and customer service further show that most of NRG’s innovation comes through applied technology, partnerships, and acquisitions rather than traditional lab‑style R&D.

Summary

NRG is evolving from a traditional merchant power producer into a more integrated energy and smart‑home platform, with a growing emphasis on technology, customer data, and tailored solutions for high‑growth sectors like data centers. Financially, the company has demonstrated that it can produce strong profit and cash flow years, but the last five years also highlight real volatility tied to market conditions, weather, and strategic moves. The balance sheet is workable but leveraged, which raises the importance of steady execution and risk management. Over time, NRG’s value will hinge on its ability to smooth out earnings swings, successfully integrate smart home and energy offerings, and balance the demands of the energy transition with the realities of running a debt‑heavy, market‑exposed power business.

NEWS

November 18, 2025 · 1:31 PM UTC

NRG Energy Receives FERC & NYSPSC Approval for LS Power Portfolio Acquisition

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November 17, 2025 · 7:30 AM UTC

Edible Garden Recognized for Sustainability Leadership in NRG's 6th Annual Excellence in Energy Awards

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November 12, 2025 · 12:00 PM UTC

NRG Expands “Meals for Millions” to Support Families Across the Country

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November 6, 2025 · 7:04 AM UTC

NRG Energy, Inc. Reports Third Quarter Results, Reaffirms 2025 Financial Guidance, and Initiates 2026 Standalone Guidance

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October 20, 2025 · 8:02 AM UTC

NRG Energy, Inc. Announces Quarterly Dividend

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