American Electric Power Company, Inc. (AEP) Key Metrics
AEP valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $69.21B
- Enterprise value
- $117.35B
- P/E (TTM)
- 22.0 10-yr median 19.0
- Forward P/E
- 17.2
- PEG ratio
- 2.00
- Price / sales
- 3.0 10-yr median 2.5
- Price / book
- 2.0 10-yr median 2.0
- EV / EBITDA
- 12.6 10-yr median 11.9
- Dividend yield
- 2.99% $3.80 a year
- Beta
- 0.47
AEP key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAEP valuation Price multiples at each fiscal year-end price.
AEP returns How much profit the business earns on the capital it uses.
AEP per-share figures Results divided by the shares outstanding at year-end.
AEP financial health Debt, liquidity and how easily interest is covered.
AEP efficiency & capital use Working capital cycle and where the cash goes.
AEP valuation history
AEP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AEP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AEP cash returned to shareholders
AEP price vs earnings per share
AEP key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $59.98B | $49.01B | $42.25B | $48.76B | $44.64B | $41.40B | $46.81B | $36.90B | $36.24B | $30.96B |
| Enterprise value | $109.74B | $94.35B | $85.32B | $89.64B | $80.68B | $75.24B | $76.89B | $62.00B | $58.92B | $52.62B |
| P/E ratio | 16.8 | 16.5 | 19.1 | 21.1 | 17.9 | 18.8 | 24.4 | 19.2 | 18.9 | 50.7 |
| Price / sales | 2.8 | 2.5 | 2.2 | 2.5 | 2.7 | 2.8 | 3.0 | 2.3 | 2.4 | 1.9 |
| Price / book | 1.9 | 1.8 | 1.7 | 2.0 | 2.0 | 2.0 | 2.4 | 1.9 | 2.0 | 1.8 |
| Price / free cash flow | 8.8 | — | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 8.6 | 7.2 | 8.4 | 9.2 | 11.6 | 10.8 | 11.0 | 7.1 | 8.5 | 6.8 |
| EV / sales | 5.0 | 4.7 | 4.4 | 4.6 | 4.9 | 5.0 | 4.9 | 3.8 | 3.8 | 3.2 |
| EV / EBITDA | 11.7 | 11.7 | 11.8 | 12.6 | 12.0 | 12.1 | 13.6 | 11.6 | 10.1 | 15.3 |
| EV / free cash flow | 16.1 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 6.0% | 6.1% | 5.2% | 4.7% | 5.6% | 5.3% | 4.1% | 5.2% | 5.3% | 2.0% |
| Free cash flow yield | 11.4% | −2.0% | −5.9% | −3.0% | −4.3% | −6.0% | −4.0% | −3.1% | −4.2% | −1.3% |
| Dividend yield | 3.3% | 3.9% | 4.2% | 3.4% | 3.4% | 3.4% | 2.9% | 3.4% | 3.3% | 3.6% |
| Shareholder yield (dividends + buybacks) | 3.3% | 3.9% | 4.2% | 3.4% | 3.4% | 3.4% | 2.9% | 3.4% | 3.3% | 3.6% |
| Share price at fiscal year-end | $115.31 | $92.23 | $81.22 | $94.95 | $88.97 | $83.27 | $94.51 | $74.74 | $73.57 | $62.96 |
| Per share | ||||||||||
| Revenue per share | $41.87 | $37.48 | $37.26 | $37.61 | $33.13 | $29.98 | $31.37 | $32.74 | $31.21 | $33.19 |
| Earnings per share | $6.88 | $5.58 | $4.24 | $4.49 | $4.96 | $4.42 | $3.88 | $3.90 | $3.88 | $1.24 |
| Operating cash flow per share | $13.35 | $12.81 | $9.64 | $10.30 | $7.65 | $7.71 | $8.62 | $10.58 | $8.67 | $9.19 |
| Free cash flow per share | $13.10 | −$1.82 | −$4.79 | −$2.89 | −$3.83 | −$4.99 | −$3.78 | −$2.30 | −$3.10 | −$0.79 |
| Cash per share | $0.94 | $0.79 | $1.05 | $1.36 | $1.24 | $1.19 | $0.91 | $0.80 | $0.76 | $1.10 |
| Book value per share | $59.86 | $50.71 | $48.53 | $46.53 | $44.71 | $41.33 | $39.64 | $38.60 | $37.18 | $35.43 |
| Tangible book value per share | $59.76 | $50.61 | $48.43 | $46.43 | $44.60 | $41.23 | $39.53 | $38.49 | $36.96 | $35.22 |
| Dividends per share | $3.86 | $3.58 | $3.38 | $3.20 | $3.03 | $2.87 | $2.73 | $2.53 | $2.42 | $2.27 |
| Capex per share | $0.25 | $14.62 | $14.43 | $13.19 | $11.49 | $12.70 | $12.40 | $12.87 | $11.77 | $9.99 |
| Debt per share | $96.58 | $86.13 | $83.83 | $80.97 | $73.06 | $69.25 | $61.64 | $51.62 | $46.79 | $45.18 |
| Shares outstanding | 520.2M | 531.3M | 520.2M | 513.5M | 501.8M | 497.2M | 495.3M | 493.8M | 492.6M | 491.7M |
| Change in shares outstanding | −2.1% | +2.1% | +1.3% | +2.3% | +0.9% | +0.4% | +0.3% | +0.2% | +0.2% | +0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.3% | 11.4% | 9.0% | 10.0% | 11.6% | 11.0% | 9.9% | 10.3% | 10.7% | 3.5% |
| Return on invested capital (ROIC) | 6.7% | 6.8% | 6.1% | 5.5% | 5.5% | 5.6% | 5.8% | 6.0% | 5.5% | 8.8% |
| Return on assets (ROA) | 3.2% | 3.0% | 2.3% | 2.5% | 3.0% | 2.8% | 2.7% | 2.9% | 3.0% | 1.0% |
| Return on tangible assets | 3.1% | 2.9% | 2.3% | 2.5% | 2.8% | 2.7% | 2.5% | 2.8% | 3.0% | 1.0% |
| Free cash flow margin | 31.3% | −4.9% | −12.9% | −7.7% | −11.6% | −16.7% | −12.1% | −7.0% | −9.9% | −2.4% |
| Income quality (OCF / net income) | 1.94 | 2.29 | 2.27 | 2.29 | 1.54 | 1.74 | 2.22 | 2.72 | 2.23 | 7.40 |
| Financial health | ||||||||||
| Total debt | $50.24B | $45.76B | $43.61B | $41.58B | $36.66B | $34.43B | $30.53B | $25.49B | $23.05B | $22.21B |
| Cash & short-term investments | $488.0M | $418.3M | $544.4M | $697.0M | $623.8M | $593.5M | $449.5M | $393.2M | $376.3M | $542.2M |
| Net debt | $49.75B | $45.34B | $43.06B | $40.88B | $36.04B | $33.84B | $30.08B | $25.10B | $22.67B | $21.67B |
| Debt / equity | 1.61 | 1.70 | 1.73 | 1.74 | 1.63 | 1.68 | 1.56 | 1.34 | 1.26 | 1.28 |
| Debt / assets | 0.43 | 0.44 | 0.45 | 0.45 | 0.42 | 0.43 | 0.40 | 0.37 | 0.36 | 0.35 |
| Net debt / EBITDA | 5.32 | 5.60 | 5.98 | 5.76 | 5.34 | 5.45 | 5.33 | 4.68 | 3.89 | 6.30 |
| Current ratio | 0.45 | 0.44 | 0.53 | 0.51 | 0.63 | 0.44 | 0.40 | 0.48 | 0.51 | 0.64 |
| Quick ratio | 0.33 | 0.31 | 0.36 | 0.41 | 0.55 | 0.31 | 0.28 | 0.37 | 0.40 | 0.53 |
| Interest coverage | 2.6 | 2.6 | 2.3 | 2.4 | 2.7 | 2.6 | 2.5 | 2.8 | 3.7 | 3.9 |
| Working capital | −$7.26B | −$7.22B | −$5.50B | −$6.49B | −$4.62B | −$5.58B | −$6.22B | −$4.53B | −$4.02B | −$3.46B |
| Invested capital | $80.89B | $72.29B | $68.31B | $64.78B | $58.47B | $54.39B | $49.72B | $44.16B | $40.99B | $39.09B |
| Tangible asset value | $32.20B | $26.93B | $25.23B | $24.00B | $22.63B | $20.72B | $19.86B | $19.01B | $18.21B | $17.32B |
| Net current asset value | −$78.94B | −$70.30B | −$65.32B | −$62.57B | −$57.18B | −$55.63B | −$51.90B | −$45.63B | −$42.16B | −$40.01B |
| Graham number | $96.27 | $79.82 | $68.08 | $68.59 | $70.62 | $64.15 | $58.81 | $58.17 | $56.99 | $31.47 |
| Graham net-net per share | −$156.75 | −$137.09 | −$130.87 | −$128.48 | −$124.38 | −$115.34 | −$108.35 | −$96.09 | −$89.61 | −$88.65 |
| Capital allocation | ||||||||||
| Dividends paid | $2.01B | $1.90B | $1.76B | $1.65B | $1.52B | $1.42B | $1.35B | $1.25B | $1.19B | $1.12B |
| Share buybacks (net) | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 56.1% | 64.2% | 79.7% | 71.3% | 61.1% | 64.8% | 70.3% | 65.0% | 62.3% | 182.8% |
| Dividends + buybacks / free cash flow | 29.5% | — | — | — | — | — | — | — | — | — |
| Capex / revenue | 0.6% | 39.0% | 38.7% | 35.1% | 34.7% | 42.4% | 39.5% | 39.3% | 37.7% | 30.1% |
| Capex / operating cash flow | 1.9% | 114.2% | 149.8% | 128.1% | 150.1% | 164.8% | 143.9% | 121.7% | 135.8% | 108.6% |
| Capex / depreciation | 0.04 | 2.29 | 2.36 | 2.06 | 1.89 | 2.17 | 2.24 | 2.65 | 2.73 | 2.35 |
| Stock-based compensation / revenue | — | — | 0.3% | 0.3% | −9.1% | 0.2% | 1.1% | 0.3% | 0.5% | 0.4% |
| SG&A / revenue | — | — | — | 14.9% | 15.3% | 17.3% | 17.7% | 18.4% | 23.0% | 24.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 46.1 | 46.5 | 48.2 | 43.6 | 41.5 | 43.4 | 42.7 | 43.1 | 45.2 | 39.8 |
| Days of inventory on hand | 41.0 | 48.4 | 42.8 | 29.6 | 35.1 | 42.6 | 32.9 | 27.8 | 31.9 | 35.4 |
| Days payables outstanding | 74.5 | 62.9 | 62.4 | 59.7 | 57.5 | 65.2 | 62.4 | 58.4 | 62.4 | 47.7 |
| Cash conversion cycle (days) | 12.5 | 32.1 | 28.6 | 13.4 | 19.2 | 20.8 | 13.2 | 12.5 | 14.7 | 27.5 |
| Receivables turnover | 7.92 | 7.84 | 7.58 | 8.38 | 8.79 | 8.40 | 8.56 | 8.47 | 8.08 | 9.17 |
| Payables turnover | 4.90 | 5.81 | 5.85 | 6.11 | 6.35 | 5.60 | 5.85 | 6.25 | 5.85 | 7.66 |
| Inventory turnover | 8.90 | 7.54 | 8.52 | 12.35 | 10.40 | 8.58 | 11.08 | 13.14 | 11.44 | 10.31 |
| Asset turnover | 0.20 | 0.20 | 0.20 | 0.21 | 0.20 | 0.19 | 0.21 | 0.24 | 0.24 | 0.26 |
| Average receivables | $2.75B | $2.54B | $2.56B | $2.30B | $1.89B | $1.77B | $1.82B | $1.91B | $1.90B | $1.78B |
| Average payables | $3.03B | $2.34B | $2.35B | $2.36B | $1.88B | $1.90B | $1.98B | $1.97B | $1.88B | $1.55B |
| Average inventory | $1.67B | $1.80B | $1.61B | $1.17B | $1.15B | $1.24B | $1.05B | $937.1M | $960.2M | $1.15B |
| Intangibles / total assets | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% |
Computed from AEP's annual financial statements (latest annual report filed February 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AEP valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), American Electric Power traded at 16.8 times earnings, against a 10-year median of 19.0. Based on the latest twelve months, the trailing P/E is 22.0 and the forward P/E is 17.2. American Electric Power earned a return on equity of 12.3% and a return on invested capital of 6.7% in fiscal 2025. It ended the year with $50.2 billion of debt and $488.0 million in cash and short-term investments, net debt of $49.8 billion. It returned $2.0 billion to shareholders: $2.0 billion in dividends and $0 in share buybacks, 29% of free cash flow. The share count rose 5.8% from 491.7M to 520.2M over 9 years.
See the AEP income statement, the AEP chart for price history, or the AEP stock overview for the latest quote and news.
AEP key metrics FAQ
What is American Electric Power's P/E ratio?
American Electric Power's trailing P/E ratio is 22.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 17.2. At the end of fiscal 2025 it was 16.8, compared with a 10-year median of 19.0.
What is American Electric Power's EV/EBITDA?
American Electric Power's enterprise value was 11.7 times EBITDA at the end of fiscal 2025 (enterprise value $109.7 billion, EBITDA $9.3 billion); the current EV/EBITDA is 12.6.
What is American Electric Power's return on equity?
American Electric Power's return on equity (ROE) was 12.3% in fiscal 2025: net income of $3.6 billion on average shareholders' equity of $29.0 billion.
What is American Electric Power's ROIC?
American Electric Power's return on invested capital was 6.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does American Electric Power have?
American Electric Power had total debt of $50.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.61 and $49.8 billion of net debt (5.32 times EBITDA).
What is American Electric Power's dividend yield?
American Electric Power's forward dividend yield is 2.99%. American Electric Power paid $2.0 billion in dividends in fiscal 2025 ($3.86 per share), a payout ratio of 56.1%.
What is American Electric Power's free cash flow yield?
American Electric Power generated $6.8 billion of free cash flow in fiscal 2025, a free cash flow yield of 11.4% on its market value at year-end ($60.0 billion).
What is American Electric Power's current ratio?
American Electric Power's current ratio was 0.45 at the end of fiscal 2025: current assets were 0.45 times current liabilities.
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