American Electric Power Company, Inc. (AEP) Income Statement
AEP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAEP revenue and net income
Where AEP's revenue goes
2025Each bar shows an amount and its share of revenue. AEP kept 16.4% of revenue as net income.
AEP profit margins
AEP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.4% | +4.1% | +7.9% | +2.9% |
| Gross profit | +9.0% | +12.5% | +10.1% | +4.9% |
| Operating income | +11.3% | +15.9% | +12.2% | +4.8% |
| Net income | +20.7% | +15.8% | +10.2% | +5.7% |
| EPS (diluted) | +6.2% | +5.4% | +6.1% | +4.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AEP quarterly EPS vs estimates
American Electric Power beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 28, 2026 (estimate $2.01).
AEP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.78B | $19.92B | $19.38B | $19.31B | $16.62B | $14.91B | $15.54B | $16.17B | $15.38B | $16.32B |
| Cost of revenue | $14.85B | $13.56B | $13.76B | $14.44B | $11.95B | $10.63B | $11.58B | $12.31B | $10.99B | $11.89B |
| Gross profit | $6.93B | $6.36B | $5.62B | $4.87B | $4.67B | $4.28B | $3.96B | $3.86B | $4.39B | $4.43B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | — | — | — | $2.88B | $2.55B | $2.57B | $2.74B | $2.98B | $3.54B | $3.97B |
| Total operating expenses | $1.63B | $1.60B | $1.49B | $1.47B | $1.41B | $1.30B | $1.23B | $1.14B | $1.06B | $1.02B |
| Operating income | $5.30B | $4.76B | $4.13B | $3.40B | $3.26B | $2.98B | $2.72B | $2.71B | $3.33B | $3.41B |
| Interest income | — | — | — | — | — | — | $904.1M | $11.6M | $16.0M | $16.3M |
| Interest expense | $2.03B | $1.86B | $1.81B | $1.39B | $1.19B | $1.16B | $1.07B | $983.3M | $893.5M | $874.8M |
| Income before taxes | $3.83B | $2.94B | $2.27B | $2.31B | $2.60B | $2.24B | $1.91B | $2.05B | $2.90B | $546.8M |
| Income taxes | $129.0M | −$39.2M | $54.6M | $5.4M | $115.5M | $40.5M | −$12.9M | $115.3M | $969.7M | −$73.7M |
| Net income | $3.58B | $2.97B | $2.21B | $2.31B | $2.49B | $2.20B | $1.92B | $1.92B | $1.91B | $610.9M |
| EBITDA | $9.34B | $8.09B | $7.21B | $7.10B | $6.75B | $6.21B | $5.65B | $5.36B | $5.84B | $3.44B |
| EPS (diluted) | $5.96 | $5.61 | $5.24 | $5.09 | $4.74 | $4.44 | $4.25 | $3.95 | $3.66 | $3.94 |
| Gross margin | 31.8% | 31.9% | 29.0% | 25.2% | 28.1% | 28.7% | 25.5% | 23.8% | 28.5% | 27.1% |
| Operating margin | 24.3% | 23.9% | 21.3% | 17.6% | 19.6% | 20.0% | 17.5% | 16.8% | 21.7% | 20.9% |
| Net margin | 16.4% | 14.9% | 11.4% | 11.9% | 15.0% | 14.8% | 12.4% | 11.9% | 12.4% | 3.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.45B | $6.02B | $5.05B | $6.01B | $5.09B | $5.64B | $4.70B | $5.49B | $4.63B | $5.10B | $4.69B | $5.35B |
| Cost of revenue | $1.60B | $2.12B | $4.59B | $3.18B | $3.32B | $3.76B | $3.22B | $3.66B | $3.36B | $3.44B | $3.54B | $3.59B |
| Gross profit | $3.84B | $3.90B | $459.0M | $2.83B | $1.76B | $1.88B | $1.48B | $1.83B | $1.27B | $1.65B | $1.14B | $1.76B |
| Sales, general & admin | $814.0M | — | — | — | — | — | — | — | — | — | — | — |
| Total operating expenses | $1.26B | $2.54B | −$461.9M | $1.31B | $365.0M | $422.0M | $385.1M | $407.2M | $393.6M | $410.4M | $343.1M | $393.9M |
| Operating income | $2.58B | $1.36B | $920.9M | $1.52B | $1.40B | $1.46B | $1.10B | $1.42B | $876.3M | $1.24B | $800.5M | $1.36B |
| Interest expense | $585.0M | $552.0M | $534.5M | $508.5M | $490.7M | $496.3M | $464.0M | $490.0M | $466.7M | $436.8M | $462.2M | $471.6M |
| Income before taxes | $770.0M | $922.0M | $742.0M | $1.12B | $1.04B | $927.7M | $724.4M | $999.2M | $349.2M | $863.8M | $289.2M | $1.02B |
| Income taxes | $52.0M | $44.0M | $136.8M | $117.6M | −$250.9M | $125.5M | $58.5M | $37.5M | $6.7M | −$141.9M | −$48.6M | $64.2M |
| Net income | $713.0M | $874.0M | $582.0M | $972.0M | $1.23B | $800.2M | $664.1M | $959.6M | $340.3M | $1.00B | $336.2M | $953.7M |
| EBITDA | $2.27B | $2.13B | $1.70B | $2.51B | $2.36B | $2.22B | $1.99B | $2.32B | $1.61B | $2.06B | $1.63B | $2.27B |
| EPS (diluted) | $1.36 | $1.64 | $1.19 | $1.80 | $1.43 | $1.54 | $1.24 | $1.85 | $1.25 | $1.27 | $1.23 | $1.77 |
| Gross margin | 70.6% | 64.8% | 9.1% | 47.0% | 34.7% | 33.3% | 31.5% | 33.3% | 27.4% | 32.4% | 24.4% | 32.8% |
| Operating margin | 47.5% | 22.6% | 18.3% | 25.3% | 27.5% | 25.8% | 23.3% | 25.9% | 18.9% | 24.4% | 17.1% | 25.5% |
| Net margin | 13.1% | 14.5% | 11.5% | 16.2% | 24.1% | 14.2% | 14.1% | 17.5% | 7.4% | 19.7% | 7.2% | 17.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AEP's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AEP financial results
In fiscal year 2025 (ended December 31, 2025), American Electric Power reported revenue of $21.8 billion, up 9.4% from the year before. It had net income of $3.6 billion (up 20.7%), a net profit margin of 16.4%. Diluted earnings per share came to $5.96. Over five years revenue grew at an average rate of 7.9% a year.
See the AEP stock overview for the latest quote and news, or the AEP chart for price history and technical indicators.
AEP income statement FAQ
What is American Electric Power's annual revenue?
American Electric Power reported total revenue of $21.8 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.4% from $19.9 billion the previous year.
Is American Electric Power profitable?
Yes. American Electric Power reported net income of $3.6 billion in fiscal 2025, a net profit margin of 16.4%; its operating margin was 24.3%.
What is American Electric Power's gross margin?
American Electric Power's gross margin was 31.8% in fiscal 2025: for every $100 of revenue, American Electric Power kept $32 after the direct cost of its products and services.
How fast is American Electric Power growing?
Revenue grew 7.9% a year on average over the last five fiscal years, from $14.9 billion to $21.8 billion.
What are American Electric Power's earnings per share?
American Electric Power earned $5.96 per diluted share in fiscal 2025, compared with $5.61 a year earlier.
When will American Electric Power report its next earnings?
American Electric Power is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 before the market opens.
When does American Electric Power's fiscal year end?
American Electric Power's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.
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