Consolidated Edison (ED) FY2025 10-K Annual Report
Consolidated Edison (ED) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 19, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Consolidated Edison FY2025 10-K Analysis
Business Overview
- • Core business model: Electric and gas utility operations primarily through subsidiaries CECONY and O&R
- • Emphasis on renewable energy growth highlighted by completion of Broken Bow II sale in January 2025
- • Equity increased to $24.2B in 2025 from $22.0B in 2024, driven by net plant growth to $55.4B from $52.2B
- • Long-term debt rose modestly to $25.6B from $24.7B, reflecting ongoing capital investments
- • Noteworthy sale and transfer of Broken Bow II renewable project classified as held for sale in 2024 and closed in 2025
Management Discussion & Analysis
- • No revenue or profit figures provided in this MD&A excerpt
- • Risks from external environment changes may impact asset values and investment returns
- • Focus on dividend growth supported by regulated utilities and transmission earnings
- • Emerging risks: increased distributed energy resources and decline in gas and steam usage
- • No cash flow, capital allocation, or forward guidance data disclosed in this section
Risk Factors
- • Regulatory risk: CECONY’s surcharge recovery caps limit late payment and write-off cost recovery to 0.5% total customer bill impact per commodity through 2028
- • Financial risk: Aged receivables aged >60 days totaled $1.454B at 12/31/25 vs $1.684B at 12/31/24, pressuring liquidity and collections
- • Operational risk: Utilities suspended collections and disconnections during COVID-19; resumption may increase uncollectible balances and write-offs
- • Competitive disruption risk: No specific competitor or technology risk detailed; next major risk is regulatory asset deferrals impacting financials
- • Structural financial risk: Surcharge recoveries above caps deferred as regulatory assets, deferring costs and impacting future cash flows and earnings
Consolidated Edison FY2025 Key Financial MetricsXBRL
Revenue
$17.0B
▲ +10.2% YoY
Net Income
$2.0B
▲ +11.2% YoY
Operating Margin
17.2%
▼ -5bp YoY
Net Margin
11.9%
▲ +10bp YoY
ROE
8.4%
▲ +8bp YoY
Total Assets
$74.6B
▲ +5.7% YoY
EPS (Diluted)
$5.64
▲ +7.6% YoY
Operating Cash Flow
$4.8B
▲ +32.8% YoY
Source: XBRL data from Consolidated Edison FY2025 10-K filing on SEC EDGAR. All figures in USD.
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