Short answer
Edison International (EIX) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $19.3B (+9.8% year over year) and net income of $4.5B.
- Top risk flagged: Regulatory risk from California Wildfire Fund requirements under SB 901 affecting cost recovery for wildfire liabilities
FY2025 key financial metrics · XBRL
- Revenue
- $19.3B
- +9.8% YoY
- Net income
- $4.5B
- +247.3% YoY
- Operating margin
- 36.7%
- +20.1 pp YoY
- EPS (diluted)
- $11.55
- +248.9% YoY
- ROE
- 25.4%
- +17.1 pp YoY
- Operating cash flow
- $5.8B
- +15.7% YoY
Source: XBRL data from the Edison International (EIX) FY2025 10-K on SEC EDGAR. USD.
Edison International FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Regulated electric utility focused on power generation and distribution through Southern California Edison
- Emphasis on wildfire risk management with detailed wildfire mitigation plan and public safety power shutoffs highlighted this year
- Strategic focus on recovery of wildfire-related costs and associated regulatory approvals
- Employee and human capital management discussed, reflecting ongoing workforce and safety certifications
- Significant regulatory environment overview detailing ratemaking, purchased power, and environmental compliance
Management Discussion & Analysis
- Revenue and earnings: Net income $4.459B in 2025 vs $1.284B in 2024, up $3.175B YoY; SCE core earnings $2.911B vs $2.232B, up $679M
- Margins: SCE core earnings increase driven by 2025 GRC final decision revenue and interest expense benefits; no specific % margin given
- Best segment: SCE with $2.911B core earnings in 2025 up $679M; Worst: Edison International Parent and Other with core loss $391M vs $332M in 2024
- Capital expenditures: $6.7B in 2025 vs $5.7B in 2024; forecast $7.3B - $9.1B annually 2026-2030; rate base $48.2B end 2025 up from $45.7B
- Forward outlook: SCE projects electricity demand to nearly double 2025-2045; expects bundled system average rate growth at or below inflation through 2030; highlights wildfire risks, Eaton Fire settlements and related regulatory and litigation risks
Risk Factors
- Regulatory risk from California Wildfire Fund requirements under SB 901 affecting cost recovery for wildfire liabilities
- Geopolitical exposure in California to severe wildfire events causing prolonged power shutoffs impacting millions
- Operational risk from dependency on aging transmission infrastructure risking outages during peak demand
- Competitive threat from distributed solar and battery storage growth reducing utility electricity demand
- Financial leverage includes $3.5 billion long-term debt increasing interest expense risk amid rising rates
Generated from the filing text; verify against the original. How to read a 10-K
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