Eversource Energy (ES) FY2025 10-K Annual Report
Eversource Energy (ES) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 17, 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.
Eversource Energy FY2025 10-K Analysis
Business Overview
- • Core business: regulated energy delivery via electric, natural gas, and water utilities across CT, MA, NH
- • Divestiture of offshore wind interests in 2024; residual noncontrolling tax equity investment retained in South Fork Wind
Management Discussion & Analysis
- • Revenue increased to $1.69B net income in 2025 vs $811.7M in 2024, non-GAAP earnings $1.77B vs $1.63B, $140M YoY rise excluding special charges
- • Operating margin stable: Regulated companies non-GAAP EPS $4.98 in 2025 vs $4.73 in 2024; electric transmission best performer $776.7M earnings up $52.1M
Risk Factors
- • FERC complaints challenging allowed ROEs on transmission investments could reduce returns and cash flows under regulatory scrutiny
- • Exposure to post-closing cost overruns and tax credit risks on Revolution Wind offshore wind project sale with Global Infrastructure Partners
Eversource Energy FY2025 Key Financial MetricsXBRL
Revenue
$13.5B
▲ +13.8% YoY
Net Income
$1.7B
▲ +108.5% YoY
Operating Margin
22.1%
▲ +182bp YoY
Net Margin
12.5%
▲ +567bp YoY
ROE
10.4%
▲ +505bp YoY
Total Assets
$63.8B
▲ +7.0% YoY
EPS (Diluted)
$4.56
▲ +100.9% YoY
Operating Cash Flow
$4.1B
▲ +90.5% YoY
Source: XBRL data from Eversource Energy FY2025 10-K filing on SEC EDGAR. All figures in USD.
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