Short answer
FirstEnergy (FE) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $15.1B (+12.0% year over year) and net income of $1.0B.
FY2025 key financial metrics · XBRL
- Revenue
- $15.1B
- +12.0% YoY
- Net income
- $1.0B
- +4.3% YoY
- Operating margin
- 14.6%
- −3.0 pp YoY
- EPS (diluted)
- $1.76
- +3.5% YoY
- ROE
- 8.2%
- +0.3 pp YoY
- Operating cash flow
- $3.7B
- +28.0% YoY
Source: XBRL data from the FirstEnergy (FE) FY2025 10-K on SEC EDGAR. USD.
FirstEnergy FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: transmission, distribution, and generation of electricity serving over 6 million customers across Midwest and Mid-Atlantic with $21.3B total rate base
- New emphasis: consolidation of PA Companies into a single entity FE PA as of Jan 1, 2024 for regulatory simplification
- Strategic shift: major transmission project awards via new joint ventures Valley Link ($3B total, $1B FE share) and Grid Growth ($1B total, $448M FE share) in 2025-26 expanding transmission footprint
- Quantitative metric: total rate base $21.3B, 24,000+ miles transmission lines, 4,618 employees at service company, with 70 MW new solar and 1,200 MW gas combined cycle planned investments
- Noteworthy fact: sale of 33⅓% equity in coal-related Global Holding joint venture for $47.5M in July 2025 signaling move away from coal investments
Management Discussion & Analysis
- Revenue and profit details not disclosed in provided MD&A excerpt
- Transmission ROE impacted by Sixth Circuit ruling; ATSI recorded $46M pre-tax charge related to ROE incentive refunds
- Stand-Alone Transmission segment affected by $42M charge within Transmission Revenues
- FERC audit concluded, $105M transmission costs reclassified to operating expenses fully recovered by 2024
- Management highlights regulatory risks from evolving FERC rules, EPA environmental regulations, and transmission planning complaints
Generated from the filing text; verify against the original. How to read a 10-K
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