Entergy (ETR) FY2025 10-K Annual Report
Entergy (ETR) 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.
Entergy FY2025 10-K Analysis
Business Overview
- • Core business model: Energy generation and utility operations, including regulated electric and gas distribution across multiple U.S. states
- • Executive leadership update: Appointment of Kimberly A. Fontan as EVP and CFO beginning 2022, and Kimberly Cook-Nelson as EVP and COO in 2025
- • No shares repurchased in Q4 2025, with remaining $350M authorized under share repurchase program unchanged
- • Notable equity activity: Withheld 448,353 shares in early 2025 to cover income tax related to restricted stock and performance unit vesting
- • Total recorded stockholders as of January 31, 2026: 17,784, reflecting shareholder base size and market presence
Management Discussion & Analysis
- • No revenue or profitability figures disclosed; focus on capital structure, investments, and regulatory matters
- • Debt to capital ratio 53.1% in 2025 vs 52.9% in 2024; net debt to net capital 53.1% vs 52.2%
- • Planned capital investments: $155M in 2026, $120M in 2027, $140M in 2028, $165M in 2029, mainly for Generation segment
- • Long-term debt obligations total $71M (2026), $196M (2027), $378M (2028), $96M (2029-30), $865M (post-2030)
- • Management highlights regulatory approvals, ongoing settlements, tariff risks, and FERC pension cost recovery ruling as key factors impacting future operations and cash flow
Risk Factors
- • Legal risk from adverse March 2024 ruling in opportunity sales proceeding; $131.8 million regulatory asset write-off impacting net income
- • Macroeconomic exposure to natural gas price increase; Entergy Arkansas paid $74 million in January 2026 vs $25 million in January 2025
- • Operational costs rose by $13.9 million due to increased non-nuclear generation outage work in 2025 vs 2024
- • Competitive pressure from increased industrial demand; industrial sales up 19% YoY to 12,095 GWh driven by primary metals and technology customers
- • Financial risk from increased leverage; $700 million mortgage bonds issued (5.45% coupon) in May 2024 and May 2025 secondary offering
Entergy FY2025 Key Financial MetricsXBRL
Revenue
$12.9B
▲ +9.0% YoY
Net Income
$1.8B
▲ +66.6% YoY
Operating Margin
24.7%
▲ +242bp YoY
Net Margin
13.6%
▲ +470bp YoY
ROE
10.4%
▲ +339bp YoY
Total Assets
$71.9B
▲ +11.0% YoY
EPS (Diluted)
$3.91
▲ +59.6% YoY
Operating Cash Flow
$5.2B
▲ +14.8% YoY
Source: XBRL data from Entergy FY2025 10-K filing on SEC EDGAR. All figures in USD.
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