Eversource Energy
ES · NYSEElectric Services · Fiscal year ends Dec 31
Eversource Energy reported revenue of $13.5B in the fiscal year ended Dec 2025, up 13.8% from the year before. Operating income was $3B, an operating margin of 22.1%, and net income was $1.7B. Operating cash flow of $4.1B less capital expenditure of $4.2B left free cash flow of −$45M. Net debt was $28.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $9.9B | $12.3B | $11.9B | $11.9B | $13.5B |
| Operating income | $2B | $2.2B | $2.4B | $2.4B | $3B |
| Interest expense | $582M | $678M | $855M | $1.1B | $1.2B |
| Income tax | $344M | $454M | $160M | $425M | $140M |
| Net income | $1.2B | $1.4B | −$435M | $819M | $1.7B |
| Diluted EPS | 3.54 | 4.05 | −1.26 | 2.27 | 4.56 |
| Diluted shares | 345M | 347M | 350M | 358M | 371M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $67M | $375M | $54M | $27M | $135M |
| Receivables | $1.2B | $1.5B | $1.4B | $1.7B | $1.8B |
| Current assets | $3.3B | $4.2B | $4.2B | $5.1B | $5.1B |
| Goodwill | $4.5B | $4.5B | $4.5B | $3.6B | $4.2B |
| Total assets | $48.5B | $53.2B | $55.6B | $59.6B | $63.8B |
| Payables | $1.7B | $2.1B | $1.9B | $1.7B | $1.9B |
| Current liabilities | $5.8B | $6.8B | $6.3B | $6.7B | $7.8B |
| Short-term debt | $1.2B | $1.3B | $825M | $1B | $1.4B |
| Long-term debt | $17B | $19.7B | $23.6B | $25.7B | $26.9B |
| Shareholders' equity | $14.6B | $15.5B | $14.2B | $15B | $16.2B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $2B | $2.4B | $1.6B | $2.2B | $4.1B |
| Capital expenditure | $3.2B | $3.4B | $4.3B | $4.5B | $4.2B |
| Free cash flow | −$1.2B | −$1B | −$2.7B | −$2.3B | −$45M |
| Depreciation & amortisation | $1.3B | $1.6B | $816M | $1.8B | $2.4B |
| Stock-based compensation | $28M | $33M | $28M | $30M | $34M |
| Dividends paid | $805M | $860M | $919M | $1B | $1.1B |
| Dividend per share | 2.41 | 2.55 | 2.70 | 2.86 | 3.01 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 24.6% | −3.1% | −0.1% | 13.8% |
| Operating income growth (YoY) | – | 10.3% | 9.2% | 0.4% | 24.1% |
| EPS growth (YoY) | – | 14.4% | −131.1% | – | 100.9% |
| Operating margin | 20.2% | 17.9% | 20.1% | 20.2% | 22.1% |
| Net margin | 12.5% | 11.5% | −3.6% | 6.9% | 12.5% |
| Return on equityBlank when equity is negative | 8.4% | 9.1% | −3.1% | 5.4% | 10.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.7% | 4.7% | 4.9% | 4.6% | 5.3% |
| Free cash flow margin | −12.3% | −8.5% | −22.6% | −19.5% | −0.3% |
| Cash conversion (CFO ÷ net income) | 1.60x | 1.70x | −3.79x | 2.64x | 2.42x |
| Receivable days | 45 | 45 | 44 | 51 | 50 |
| Interest cover | 3.42x | 3.24x | 2.80x | 2.17x | 2.40x |
| Debt ÷ equity | 1.25x | 1.36x | 1.72x | 1.78x | 1.75x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $18.1B | $20.7B | $24.4B | $26.7B | $28.1B |
| Current ratio | 0.56x | 0.62x | 0.67x | 0.76x | 0.65x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.