NRG Energy, Inc. (NRG) Key Metrics
NRG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $21.81B
- Enterprise value
- $45.13B
- P/E (TTM)
- 27.2 10-yr median 17.0
- Forward P/E
- 9.0
- PEG ratio
- 0.39
- Price / sales
- 0.7 10-yr median 0.8
- Price / book
- 5.0 10-yr median 4.8
- EV / EBITDA
- 12.1 10-yr median 9.8
- Dividend yield
- 1.83% $1.90 a year
- Beta
- 1.16
NRG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNRG valuation Price multiples at each fiscal year-end price.
NRG returns How much profit the business earns on the capital it uses.
NRG per-share figures Results divided by the shares outstanding at year-end.
NRG financial health Debt, liquidity and how easily interest is covered.
NRG efficiency & capital use Working capital cycle and where the cash goes.
NRG valuation history
NRG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NRG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NRG cash returned to shareholders
NRG price vs earnings per share
NRG key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $31.69B | $19.13B | $11.79B | $7.51B | $10.55B | $9.24B | $10.49B | $12.20B | $9.03B | $3.87B |
| Enterprise value | $41.53B | $29.15B | $22.22B | $15.38B | $18.59B | $14.37B | $16.60B | $18.15B | $17.64B | $19.41B |
| P/E ratio | 36.7 | 17.0 | — | 6.2 | 4.8 | 18.1 | 2.4 | 45.5 | — | — |
| Price / sales | 1.0 | 0.7 | 0.4 | 0.2 | 0.4 | 1.0 | 1.1 | 1.3 | 1.0 | 0.4 |
| Price / book | 18.9 | 7.7 | 4.1 | 2.0 | 2.9 | 5.5 | 6.3 | — | — | 1.9 |
| Price / free cash flow | 41.4 | 10.4 | — | — | 47.1 | 5.7 | 8.9 | 12.3 | 6.7 | 3.5 |
| Price / operating cash flow | 16.6 | 8.3 | — | 20.9 | 21.4 | 5.0 | 7.4 | 8.9 | 5.6 | 2.0 |
| EV / sales | 1.4 | 1.0 | 0.8 | 0.5 | 0.7 | 1.6 | 1.7 | 1.9 | 1.9 | 2.2 |
| EV / EBITDA | 12.6 | 9.2 | 12.4 | 5.6 | 4.4 | 8.4 | 9.8 | 12.2 | — | 35.9 |
| EV / free cash flow | 54.2 | 15.9 | — | — | 83.0 | 8.9 | 14.0 | 18.4 | 13.0 | 17.5 |
| Earnings yield | 2.7% | 5.9% | −1.7% | 16.3% | 20.7% | 5.5% | 42.3% | 2.2% | −23.8% | −20.0% |
| Free cash flow yield | 2.4% | 9.6% | −6.9% | −0.2% | 2.1% | 17.4% | 11.3% | 8.1% | 15.0% | 28.7% |
| Dividend yield | 1.3% | 2.1% | 3.2% | 4.4% | 3.0% | 3.2% | 0.3% | 0.3% | 0.4% | 2.0% |
| Shareholder yield (dividends + buybacks) | 5.7% | 7.0% | 13.2% | 12.5% | 3.5% | 5.7% | 14.0% | 10.6% | 0.4% | 7.8% |
| Share price at fiscal year-end | $159.24 | $90.22 | $51.70 | $31.82 | $43.08 | $37.55 | $39.75 | $39.60 | $28.48 | $12.26 |
| Per share | ||||||||||
| Revenue per share | $154.32 | $132.69 | $126.42 | $133.66 | $110.16 | $36.96 | $37.20 | $30.77 | $28.62 | $28.21 |
| Earnings per share | $4.34 | $5.31 | −$0.89 | $5.17 | $8.93 | $2.07 | $16.81 | $0.87 | −$6.79 | −$2.45 |
| Operating cash flow per share | $9.61 | $10.88 | −$0.97 | $1.53 | $2.01 | $7.47 | $5.35 | $4.47 | $5.08 | $6.04 |
| Free cash flow per share | $3.85 | $8.65 | −$3.59 | −$0.06 | $0.91 | $6.53 | $4.49 | $3.21 | $4.28 | $3.52 |
| Cash per share | $34.81 | $4.56 | $2.37 | $1.82 | $1.02 | $15.87 | $1.31 | $1.83 | $2.43 | $2.97 |
| Book value per share | $8.45 | $11.69 | $12.75 | $16.22 | $14.69 | $6.83 | $6.28 | −$4.01 | −$1.09 | $6.46 |
| Tangible book value per share | −$28.37 | −$25.67 | −$26.75 | $0.19 | −$2.88 | $1.76 | $1.10 | −$7.79 | −$8.30 | −$2.08 |
| Dividends per share | $2.07 | $1.91 | $1.67 | $1.41 | $1.30 | $1.20 | $0.12 | $0.12 | $0.12 | $0.24 |
| Capex per share | $5.76 | $2.23 | $2.62 | $1.58 | $1.10 | $0.93 | $0.86 | $1.26 | $0.80 | $3.09 |
| Debt per share | $84.25 | $51.84 | $48.12 | $35.18 | $33.82 | $36.74 | $24.42 | $21.17 | $29.60 | $52.13 |
| Shares outstanding | 199.0M | 212.0M | 228.0M | 236.0M | 245.0M | 246.0M | 264.0M | 308.0M | 317.0M | 316.0M |
| Change in shares outstanding | −6.1% | −7.0% | −3.4% | −3.7% | −0.4% | −6.8% | −14.3% | −2.8% | +0.3% | −4.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 41.5% | 41.8% | −6.0% | 32.9% | 82.8% | 30.6% | — | — | — | −30.7% |
| Return on invested capital (ROIC) | 12.3% | 14.6% | 2.4% | 12.7% | 27.7% | 10.2% | 20.7% | 14.9% | −4.5% | 0.1% |
| Return on assets (ROA) | 3.3% | 4.5% | −0.7% | 4.7% | 11.5% | 3.7% | 38.3% | 1.6% | −8.0% | −2.4% |
| Return on tangible assets | 4.0% | 7.0% | −1.2% | 4.8% | 11.6% | 3.7% | 39.8% | 2.8% | −10.2% | −2.8% |
| Free cash flow margin | 2.5% | 6.5% | −2.8% | −0.0% | 0.8% | 17.7% | 12.1% | 10.4% | 14.9% | 12.5% |
| Income quality (OCF / net income) | 2.21 | 2.05 | — | 0.29 | 0.23 | 3.60 | 0.32 | 5.14 | — | — |
| Financial health | ||||||||||
| Total debt | $16.77B | $10.99B | $10.97B | $8.30B | $8.29B | $9.04B | $6.45B | $6.52B | $9.38B | $16.47B |
| Cash & short-term investments | $6.93B | $966.0M | $541.0M | $430.0M | $250.0M | $3.90B | $345.0M | $563.0M | $770.0M | $938.0M |
| Net debt | $9.84B | $10.03B | $10.43B | $7.87B | $8.04B | $5.13B | $6.10B | $5.96B | $8.61B | $15.54B |
| Debt / equity | 9.97 | 4.44 | 3.78 | 2.17 | 2.30 | 5.38 | 3.89 | — | — | 8.07 |
| Debt / assets | 0.58 | 0.46 | 0.42 | 0.28 | 0.36 | 0.61 | 0.51 | 0.61 | 0.40 | 0.54 |
| Net debt / EBITDA | 3.00 | 3.16 | 5.82 | 2.84 | 1.92 | 2.98 | 3.60 | 4.00 | — | 28.72 |
| Current ratio | 1.64 | 1.02 | 1.02 | 1.25 | 1.37 | 3.15 | 1.31 | 1.50 | 1.34 | 1.54 |
| Quick ratio | 1.58 | 0.96 | 0.96 | 1.19 | 1.31 | 2.98 | 1.15 | 1.33 | 1.20 | 1.37 |
| Interest coverage | 2.4 | 3.7 | 0.6 | 4.8 | 6.9 | 2.8 | 3.1 | 2.0 | -1.3 | 0.1 |
| Working capital | $5.12B | $151.0M | $227.0M | $3.25B | $2.93B | $4.11B | $729.0M | $1.20B | $1.12B | $2.35B |
| Invested capital | $11.52B | $12.50B | $13.34B | $11.70B | $11.64B | $6.81B | $7.76B | $4.72B | $8.27B | $17.58B |
| Tangible asset value | −$5.64B | −$5.44B | −$6.10B | $46.0M | −$706.0M | $433.0M | $310.0M | −$2.38B | −$239.0M | $1.79B |
| Net current asset value | −$14.31B | −$12.58B | −$13.40B | −$9.09B | −$8.74B | −$7.19B | −$7.76B | −$8.24B | −$16.84B | −$19.13B |
| Graham number | $28.73 | $37.36 | — | $43.45 | $54.33 | $17.85 | $48.74 | — | — | — |
| Graham net-net per share | −$86.70 | −$83.60 | −$86.10 | −$88.70 | −$65.85 | −$34.45 | −$36.17 | −$33.46 | −$61.41 | −$75.19 |
| Capital allocation | ||||||||||
| Dividends paid | $411.0M | $405.0M | $381.0M | $332.0M | $319.0M | $295.0M | $32.0M | $37.0M | $38.0M | $76.0M |
| Share buybacks (net) | $1.40B | $935.0M | $1.17B | $606.0M | $48.0M | $229.0M | $1.44B | $1.25B | $2.0M | $226.0M |
| Dividend payout ratio | 47.6% | 36.0% | — | 27.2% | 14.6% | 57.8% | 0.7% | 13.8% | — | — |
| Dividends + buybacks / free cash flow | 236.8% | 73.1% | — | — | 163.8% | 32.6% | 124.0% | 130.1% | 2.9% | 27.2% |
| Capex / revenue | 3.7% | 1.7% | 2.1% | 1.2% | 1.0% | 2.5% | 2.3% | 4.1% | 2.8% | 10.9% |
| Capex / operating cash flow | 60.0% | 20.5% | — | 103.6% | 54.6% | 12.5% | 16.1% | 28.2% | 15.8% | 51.2% |
| Capex / depreciation | 0.80 | 0.44 | 0.45 | 0.44 | 0.29 | 0.41 | 0.49 | 0.72 | 0.36 | 1.10 |
| Stock-based compensation / revenue | 0.4% | 0.4% | 0.4% | 0.1% | 0.1% | 0.2% | 0.2% | 0.3% | 0.4% | 0.1% |
| R&D / revenue | — | — | — | — | — | 0.1% | 0.1% | 0.1% | 0.2% | 0.5% |
| SG&A / revenue | 8.5% | 8.3% | 6.2% | 3.7% | 4.8% | 10.3% | 8.4% | 8.4% | 10.0% | 12.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 44.9 | 45.6 | 52.6 | 50.4 | 32.7 | 38.7 | 38.1 | 40.5 | 43.3 | 46.8 |
| Days of inventory on hand | 7.1 | 9.0 | 9.3 | 8.3 | 7.4 | 19.8 | 19.9 | 22.2 | 31.1 | 53.9 |
| Days payables outstanding | 40.7 | 40.0 | 41.1 | 39.3 | 26.0 | 38.3 | 39.6 | 39.7 | 38.9 | 45.1 |
| Cash conversion cycle (days) | 11.4 | 14.6 | 20.9 | 19.3 | 14.0 | 20.3 | 18.3 | 23.0 | 35.6 | 55.6 |
| Receivables turnover | 8.13 | 8.00 | 6.93 | 7.25 | 11.16 | 9.43 | 9.59 | 9.01 | 8.43 | 7.81 |
| Payables turnover | 8.98 | 9.14 | 8.89 | 9.28 | 14.01 | 9.54 | 9.22 | 9.19 | 9.39 | 8.09 |
| Inventory turnover | 51.12 | 40.74 | 39.07 | 43.94 | 49.65 | 18.42 | 18.37 | 16.43 | 11.73 | 6.77 |
| Asset turnover | 1.16 | 1.12 | 1.04 | 1.21 | 1.42 | 0.66 | 0.85 | 0.56 | 0.34 | 0.28 |
| Average receivables | $3.78B | $3.52B | $4.16B | $4.35B | $2.42B | $964.5M | $1.02B | $1.05B | $1.08B | $1.14B |
| Average payables | $2.67B | $2.42B | $2.98B | $2.96B | $1.46B | $685.5M | $792.5M | $773.5M | $733.0M | $825.5M |
| Average inventory | $469.5M | $542.5M | $679.0M | $624.5M | $412.5M | $355.0M | $397.5M | $432.5M | $587.0M | $986.5M |
| Intangibles / total assets | 25.1% | 33.0% | 34.6% | 13.0% | 18.6% | 8.4% | 10.9% | 11.0% | 9.8% | 8.9% |
Computed from NRG's annual financial statements (latest annual report filed February 24, 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.
NRG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), NRG Energy traded at 36.7 times earnings, against a 10-year median of 17.0. Based on the latest twelve months, the trailing P/E is 27.2 and the forward P/E is 9.0. NRG Energy earned a return on equity of 41.5% and a return on invested capital of 12.3% in fiscal 2025. It ended the year with $16.8 billion of debt and $6.9 billion in cash and short-term investments, net debt of $9.8 billion. It returned $1.8 billion to shareholders: $411.0 million in dividends and $1.4 billion in share buybacks, 237% of free cash flow. The share count fell 37.0% from 316.0M to 199.0M over 9 years.
See the NRG income statement, the NRG chart for price history, or the NRG stock overview for the latest quote and news.
NRG key metrics FAQ
What is NRG Energy's P/E ratio?
NRG Energy's trailing P/E ratio is 27.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.0. At the end of fiscal 2025 it was 36.7, compared with a 10-year median of 17.0.
What is NRG Energy's EV/EBITDA?
NRG Energy's enterprise value was 12.6 times EBITDA at the end of fiscal 2025 (enterprise value $41.5 billion, EBITDA $3.3 billion); the current EV/EBITDA is 12.1.
What is NRG Energy's return on equity?
NRG Energy's return on equity (ROE) was 41.5% in fiscal 2025: net income of $864.0 million on average shareholders' equity of $2.1 billion.
What is NRG Energy's ROIC?
NRG Energy's return on invested capital was 12.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does NRG Energy have?
NRG Energy had total debt of $16.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 9.97 and $9.8 billion of net debt (3.00 times EBITDA).
What is NRG Energy's dividend yield?
NRG Energy's forward dividend yield is 1.83%. NRG Energy paid $411.0 million in dividends in fiscal 2025 ($2.07 per share), a payout ratio of 47.6%.
Does NRG Energy buy back its shares?
Yes. NRG Energy spent $1.4 billion on net share repurchases in fiscal 2025 Shares outstanding changed −6.1% over the year, to 199.0M..
What is NRG Energy's free cash flow yield?
NRG Energy generated $766.0 million of free cash flow in fiscal 2025, a free cash flow yield of 2.4% on its market value at year-end ($31.7 billion).
What is NRG Energy's current ratio?
NRG Energy's current ratio was 1.64 at the end of fiscal 2025: current assets were 1.64 times current liabilities.