undamentalytics Newsletter
Sign in

Ameren key statistics and ratios

In fiscal 2025, Ameren had return on equity of 11.4%, an operating margin of 23.0%, debt equal to 149.8% of equity and a current ratio of 0.66. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Operating margin19.8%12.0%16.8%20.6%20.3%20.7%20.6%21.8%22.8%21.6%21.4%22.4%20.8%19.0%20.8%19.9%23.0%24.9%
Net margin8.6%1.8%8.4%−16.8%5.0%9.7%10.3%10.7%8.5%13.0%14.0%15.0%15.5%13.5%15.4%15.5%16.5%17.9%
Free-cash-flow margin3.6%10.2%16.2%10.8%5.4%−3.6%1.9%0.7%−0.2%−1.8%−4.1%−26.0%−28.4%−13.7%−13.8%−20.4%−8.8%−16.0%
Return on equity7.8%1.8%6.6%−13.4%4.4%8.8%9.2%9.3%7.3%11.0%10.6%10.2%10.6%10.6%10.5%10.1%11.4%11.5%
Return on assets2.6%0.6%2.2%−4.2%1.3%2.7%2.7%2.7%2.1%3.1%2.9%2.9%2.9%2.9%2.9%2.8%3.1%3.1%
Asset turnover0.300.320.260.250.270.280.270.250.240.240.210.190.190.220.190.180.190.18
Current ratio1.661.531.291.340.800.750.920.600.550.570.570.760.700.790.650.660.660.53
Debt to equity93.4%94.1%88.6%105.7%98.0%103.8%109.9%111.0%118.0%119.3%122.6%130.7%141.5%144.8%146.6%156.4%149.8%159.3%
Interest cover (operating income ÷ interest)2.8x1.8x2.7x3.0x3.0x3.7x3.5x3.5x3.6x3.4x3.3x3.1x3.5x3.1x2.8x2.3x2.6x2.6x
Effective tax rate34.7%68.3%36.8%37.0%37.5%38.9%38.3%36.7%52.1%22.4%17.9%15.0%13.6%14.0%13.7%6.5%8.5%9.0%
Capital spending as % of revenue24.0%13.6%14.3%18.4%23.6%29.5%31.4%34.2%34.5%36.3%40.8%55.8%54.4%42.1%48.0%56.7%46.9%53.2%
Free cash flow ÷ net income42.0%561.9%192.1%—108.7%−37.5%18.1%6.3%−2.7%−14.2%−29.1%−172.9%−183.6%−101.3%−89.7%−131.6%−53.2%−89.6%
Dividends ÷ net income55.2%264.7%72.3%—134.3%66.6%63.8%63.7%82.4%55.3%57.0%56.7%57.1%56.8%57.5%60.4%52.7%51.1%
Dividends and buybacks ÷ free cash flow131.5%47.1%37.6%60.9%123.6%—352.6%>999%——————————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 6 checks passed · June 30, 2026
What it owns · $51.2bn
Short-term assets $2.6bnLonger-term assets $48.6bn
What it owes, and who funded it · $18.7bn
Short-term liabilities $5.0bnShareholders' equity $13.7bn
  • Short-term assets cover short-term liabilities $2.6bn of assets due within a year against $5.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $12m of cash against $20.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 150% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 130% to 150% over five years.
  • A year's operating cash flow covers at least 20% of debt $3.3bn of operating cash flow against $20.6bn of debt.
  • Operating profit covers interest at least five times over Operating income of $2.2bn against $827m of interest.

From Ameren's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

41 /100

Weak moat

How hard Ameren's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Net income has been a median 2.7% of total assets over 10 years.

  • Durability 17 / 20

    Operating margin has been a median 22.1%; its worst year was 19.0%.

  • Cash conversion 1 / 20

    Free cash flow was positive in 1 of 10 years, at a median -14.9% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 9.0% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: AEE vs CMSAEE vs CNPAEE vs NIAEE vs PNW

More: Multi-Utilities stocks compared, Utilities sector, rankings of US companies

Figures from Ameren's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ameren.