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Consolidated Edison (ED) stock

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NYSE: ED NYSE Multi-Utilities Next results ~November 5, 2026

C+ Fundamentals grade

Consolidated Edison is a New York-incorporated holding company, founded in 1997, that owns Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities (O&R) and Con Edison Transmission. CECONY delivers regulated electricity, gas and steam; O&R delivers regulated electricity and gas; Con Edison Transmission develops transmission projects and holds electric and gas assets through joint ventures.

Revenue comes from charges for delivering energy to households and businesses, at rates approved by state regulators including the New York State Public Service Commission. CECONY serves about 3.7 million electricity customers across New York City, excluding part of Queens, and most of Westchester County, plus roughly 1.1 million gas customers in Manhattan, the Bronx, parts of Queens and Westchester. O&R, via its RECO subsidiary, supplies around 0.3 million electricity customers and over 0.1 million gas customers in southeastern New York and northern New Jersey.

The group operates through these three units across the New York City area, Westchester County and parts of New Jersey. CECONY also runs what it describes as the largest steam distribution system in the United States, supplying around 16,975 MMlb of steam yearly to about 1,490 Manhattan customers.

Based on Consolidated Edison's 10-K filed February 19, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Consolidated Edison valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 3 selling4 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds720 adding, 488 cuttingOf 67 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Consolidated Edison files

Where Consolidated Edison stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $17.7bn, up 9.5% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin fell to 22.4% from 28.0% a year earlier. The diluted share count is up 3.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 1 of our 2 financial-health checks. At that price, our model says the market is pricing in about 1.2% a year of cash-flow growth for five years, slower than the 5.3% a year revenue growth it has delivered.

Our model value for Consolidated Edison is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Consolidated Edison's trailing-twelve-month revenue grew 9.5% year on year, with a free-cash-flow margin of 9.2%. Where it stands out: free-cash-flow margin of 9.2% ranks 4 of 17 multi-utilities companies we cover. Where it lags: days sales outstanding of 53 days ranks 12 of 14 multi-utilities companies we cover.

Our discounted-cash-flow model values the business at ~$90 per share in the base case (~$50–$140 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 28.6% while net income grew 14.6%: a 43pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Consolidated Edison's latest figures clears our strength thresholds.

Things to watch

  • Results due soon. Results are expected around 8 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 3.4% in a year.
  • Weak cash conversion. Free cash flow was 73% of net income over the last 12 months.
  • Below peers: days sales outstanding. Days sales outstanding of 53 days ranks 12 of 14 multi-utilities companies we cover (median 39 days).
  • Below peers: operating margin. Operating margin of 18.0% ranks 13 of 16 multi-utilities companies we cover (median 20.5%).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.83 against an average estimate of $0.77: beat by 7.4%
Revenue
$4.07bn, up 13.2% on a year earlier
Share reaction
-0.3% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
adjusted earnings per share (non-GAAP) $6 to $6.2 (the year 2026)
Next report
November 5, 2026; average EPS estimate $2.03

Consolidated Edison's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.6%
  • 1 week+2.7%
  • 1 month+14.6%
  • This year+22.2%
  • 1 year+25.7%
  • 5 years+82.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$17.7B
Operating margin
18.0%
Net margin
12.5%
EPS (TTM, diluted)
$6.09

Growth

Revenue growth
+9.5%
Change in growth rate
+0.4 pts
Share count change
+3.4%

Cash

Free cash flow (TTM)
$1.6B
FCF margin
9.2%

Earnings

Last results
August 6, 2026
Next results (est.)
November 8, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Consolidated Edison valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 56% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Consolidated Edison as an utility or power producer, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.4 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$130 ~$100–$160 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$100 ~$100–$130 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$110 ~$88–$150 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$93 ~$65–$140 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$110 ~$86–$140 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Consolidated Edison with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$43.76$52.03$62.07$57.96$71.02$58.95$72.49$83.84$82.90$84.18$96.93$118.48
Market value$12.9bn$15.7bn$19.2bn$18.1bn$23.4bn$19.8bn$25.3bn$29.8bn$29.0bn$29.2bn$34.8bn$43.1bn
+ Net debt (− = net cash)$13.3bn$15.1bn$15.8bn$19.0bn$20.7bn$22.8bn$23.5bn$24.8bn$23.3bn$25.6bn$25.7bn$24.8bn
Enterprise value$26.2bn$30.8bn$35.0bn$37.1bn$44.1bn$42.6bn$48.9bn$54.6bn$52.3bn$54.8bn$60.5bn$67.9bn
Multiples
Price / sales 1.0x1.3x1.6x1.5x1.9x1.6x1.9x1.9x2.0x1.9x2.1x2.4x
Price / earnings 10.8x12.6x12.6x13.1x17.4x18.0x18.8x18.0x11.5x16.1x17.2x19.5x
Price / free cash flow 4.6x———————13.4x8.1x7.2x10.9x
EV / EBITDA 7.4x7.7x8.5x9.1x10.1x9.3x10.1x11.7x10.0x11.4x11.5x12.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

46 /100

Moderate moat

How hard Consolidated Edison'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 1 / 20

    Net income has been a median 2.6% of total assets over 10 years.

  • Durability 16 / 20

    Operating margin has been a median 21.1%; its worst year was 16.9%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 7 of 10 years, at a median 6.5% of revenue.

  • Discipline 9 / 20

    The diluted share count rose 6.9% over five years.

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.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $4.8bn and EPS of $2.03 (range $1.92 to $2.10) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.11 +7% $17.6bn +4%
Next $6.49 +6% $18.4bn +5%

Next year's EPS estimate has moved 0.0% in 90 days, across 16 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.1% on 90 days ago. In the last 30 days, 1 analyst raised Consolidated Edison's forecast and 0 cut it.

Consensus EPS forecast Consolidated Edison, last 90 days
$6.10 $6.20 $6.30 $6.40 $6.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.11 Current fiscal year, 60 days ago: $6.11 Current fiscal year, 30 days ago: $6.11 Current fiscal year, 7 days ago: $6.11 Current fiscal year, Now: $6.11 $6.11 Next fiscal year, 90 days ago: $6.49 Next fiscal year, 60 days ago: $6.49 Next fiscal year, 30 days ago: $6.50 Next fiscal year, 7 days ago: $6.50 Next fiscal year, Now: $6.49 $6.49

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.11$6.49
60 days ago $6.11$6.49
30 days ago $6.11$6.50
7 days ago $6.11$6.50
Now $6.11$6.49

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.77 $0.83 +7.4%
Mar 2026 $2.27 $2.18 −3.8%
Dec 2025 $0.86 $0.89 +3.4%
Sept 2025 $1.75 $1.90 +8.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • adjusted earnings per share (non-GAAP) the year 2026 $6.00 to $6.20 Non-GAAP Maintained
    “On August 6, 2026, the company issued a press release in which it forecasts adjusted earnings per share (non-GAAP) for the year 2026 to be in the range of $6.00 to $6.20 a share.(a)” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

19 analysts, Oct 2026
Buy316%
Hold947%
Sell737%

Monthly trend

  1. Oct 2026393419
  2. Sep 2026293418
  3. Aug 2026293418
  4. Jul 20262103419

Counts of recommendations published by analysts covering Consolidated Edison, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.2%
of tradable shares
Days to cover
5.42
at average volume
Short interest, 1 month
+17%
to October 15, 2026
Held by institutions
79%
of shares
Held by insiders
0.2%
of shares
Employees
15,407
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +25.7%

$94.28 on October 31, 2025 to $118.48

ThenNowEffect
Revenue (last 12 months) $16.2bn $17.7bn +9.5%
Net margin 12.0% 12.5% +4.6%
P/E multiple 17.2x 19.5x +13.4%
Share count 352m 364m −3.3%

Biggest factor: p/e multiple.

Last 3 years +45.7%

$81.33 on November 3, 2023 to $118.48

ThenNowEffect
Revenue (last 12 months) $15.5bn $17.7bn +13.8%
Net margin 15.8% 12.5% −20.9%
P/E multiple 11.7x 19.5x +66.6%
Share count 354m 364m −2.9%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ED+23%+16%−1%+2%+15%+22%
Industry peers (median)+10%+3%−3%+14%+12%+8%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ED67%58%50%50%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ED−9%−22%−17%−17%−14%−10%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 31% from February 20, 2020 to March 23, 2020. Getting back needed a 45% gain, reached on March 3, 2022, 710 days after the low.

Price behaviour

52-week range
$93.02 – $118.48
From 52-week high
0.0%
vs 50-day average
+9.8%
vs 200-day average
+9.7%
Volatility (1 year)
18%
Beta vs S&P 500
-0.50

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±1.5%
After a week
8 up, 4 down
typical move ±2.3%
After a month
5 up, 7 down
typical move ±3.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −0.3% +0.5% +0.1% −0.1%
May 7, 2026 −0.5% +0.5% +1.1% −1.6%
February 19, 2026 −1.6% +0.5% −0.8% −1.9%
November 6, 2025 +2.5% −1.0% +5.0% +0.1%
August 7, 2025 +0.3% +0.7% −0.4% −6.4%
May 1, 2025 −2.4% +2.2% −4.4% −7.1%
February 20, 2025 +3.1% −2.1% +4.9% +13.2%
November 7, 2024 −0.8% +1.2% −2.9% −3.4%
August 1, 2024 +4.4% −3.3% +3.1% +5.0%
May 2, 2024 +0.8% +2.2% +3.5% −0.3%
February 15, 2024 +0.6% +0.2% +1.3% +2.5%
November 2, 2023 +1.0% +2.8% +0.1% +4.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Consolidated Edison in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Consolidated Edison
$14B $15B $16B $17B $18B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $15.3B Revenue (TTM), FY23 Q4: $14.7B Revenue (TTM), FY24 Q1: $14.5B Revenue (TTM), FY24 Q2: $14.8B Revenue (TTM), FY24 Q3: $15B Revenue (TTM), FY24 Q4: $15.3B Revenue (TTM), FY25 Q1: $15.8B Revenue (TTM), FY25 Q2: $16.2B Revenue (TTM), FY25 Q3: $16.6B Revenue (TTM), FY25 Q4: $16.9B Revenue (TTM), FY26 Q1: $17.2B Revenue (TTM), FY26 Q2: $17.7B $17.7B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $15.3B
FY23 Q4 $14.7B
FY24 Q1 $14.5B
FY24 Q2 $14.8B
FY24 Q3 $15B
FY24 Q4 $15.3B
FY25 Q1 $15.8B
FY25 Q2 $16.2B
FY25 Q3 $16.6B
FY25 Q4 $16.9B
FY26 Q1 $17.2B
FY26 Q2 $17.7B
Revenue growth, TTM YoY Consolidated Edison
-10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 1.3% Revenue growth, TTM YoY, FY23 Q4: -6.4% Revenue growth, TTM YoY, FY24 Q1: -9.2% Revenue growth, TTM YoY, FY24 Q2: -4.7% Revenue growth, TTM YoY, FY24 Q3: -1.4% Revenue growth, TTM YoY, FY24 Q4: 4.1% Revenue growth, TTM YoY, FY25 Q1: 8.5% Revenue growth, TTM YoY, FY25 Q2: 9.0% Revenue growth, TTM YoY, FY25 Q3: 10.3% Revenue growth, TTM YoY, FY25 Q4: 10.9% Revenue growth, TTM YoY, FY26 Q1: 9.1% Revenue growth, TTM YoY, FY26 Q2: 9.5% 9.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 1.3%
FY23 Q4 -6.4%
FY24 Q1 -9.2%
FY24 Q2 -4.7%
FY24 Q3 -1.4%
FY24 Q4 4.1%
FY25 Q1 8.5%
FY25 Q2 9.0%
FY25 Q3 10.3%
FY25 Q4 10.9%
FY26 Q1 9.1%
FY26 Q2 9.5%
Operating margin (TTM) Consolidated Edison
16% 18% 20% 22% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 21.6% Operating margin (TTM), FY23 Q4: 21.8% Operating margin (TTM), FY24 Q1: 17.0% Operating margin (TTM), FY24 Q2: 16.9% Operating margin (TTM), FY24 Q3: 17.6% Operating margin (TTM), FY24 Q4: 17.5% Operating margin (TTM), FY25 Q1: 17.6% Operating margin (TTM), FY25 Q2: 17.5% Operating margin (TTM), FY25 Q3: 17.6% Operating margin (TTM), FY25 Q4: 17.3% Operating margin (TTM), FY26 Q1: 17.4% Operating margin (TTM), FY26 Q2: 18.0% 18.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 21.6%
FY23 Q4 21.8%
FY24 Q1 17.0%
FY24 Q2 16.9%
FY24 Q3 17.6%
FY24 Q4 17.5%
FY25 Q1 17.6%
FY25 Q2 17.5%
FY25 Q3 17.6%
FY25 Q4 17.3%
FY26 Q1 17.4%
FY26 Q2 18.0%
FCF margin (TTM) Consolidated Edison
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 3.5% FCF margin (TTM), FY23 Q4: 0.8% FCF margin (TTM), FY24 Q1: 3.9% FCF margin (TTM), FY24 Q2: 5.5% FCF margin (TTM), FY24 Q3: 7.7% FCF margin (TTM), FY24 Q4: 9.6% FCF margin (TTM), FY25 Q1: 10.8% FCF margin (TTM), FY25 Q2: 14.1% FCF margin (TTM), FY25 Q3: 14.2% FCF margin (TTM), FY25 Q4: 14.7% FCF margin (TTM), FY26 Q1: 10.5% FCF margin (TTM), FY26 Q2: 9.2% 9.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 3.5%
FY23 Q4 0.8%
FY24 Q1 3.9%
FY24 Q2 5.5%
FY24 Q3 7.7%
FY24 Q4 9.6%
FY25 Q1 10.8%
FY25 Q2 14.1%
FY25 Q3 14.2%
FY25 Q4 14.7%
FY26 Q1 10.5%
FY26 Q2 9.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Consolidated Edison took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $16.9B
  2. Other operating costs $14B · 82.7%
  3. Operating income $2.9B · 17.3%
  4. Income tax $574M · 3.4%
  5. Interest and other $338M · 2.0%
  6. Net income $2B · 12.0%

Shares of revenue. Source: Consolidated Edison's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 13.0 13.3 12.9 12.2 12.4 12.9 12.6 12.1 12.0 12.3 12.6 12.2 13.7 15.7 14.7 15.3 16.9 17.7
EBITDA 2.7 3.0 3.1 3.3 3.3 3.3 3.6 4.0 4.1 4.1 4.4 4.6 4.9 4.7 5.2 4.8 5.3 5.5
Operating income 1.9 2.1 2.2 2.3 2.2 2.2 2.4 2.8 2.8 2.7 2.7 2.7 2.8 2.6 3.2 2.7 2.9 3.2
Net income 0.9 1.0 1.1 1.1 1.1 1.1 1.2 1.2 1.5 1.4 1.3 1.1 1.3 1.7 2.5 1.8 2.0 2.2
Diluted EPS $3.14 $3.47 $3.57 $3.86 $3.61 $3.71 $4.05 $4.12 $4.94 $4.42 $4.08 $3.28 $3.85 $4.66 $7.21 $5.24 $5.64 $6.09
Growth (year on year)
Revenue — +2.2% −3.3% −5.4% +1.4% +4.6% −2.8% −3.8% −0.3% +2.5% +1.9% −2.6% +11.7% +14.6% −6.4% +4.0% +10.9% +9.5%
EBITDA — +10.0% +5.5% +5.5% −0.8% +0.4% +8.4% +12.3% +3.0% −0.3% +6.3% +4.9% +6.2% −3.7% +11.7% −7.7% +8.9% +8.9%
Operating income — +11.6% +5.6% +4.5% −4.1% −1.6% +9.9% +14.5% −0.2% −4.0% +0.5% −0.8% +6.5% −7.1% +21.8% −16.5% +9.9% +12.9%
Net income — +14.1% +5.9% +7.4% −6.9% +2.8% +9.2% +4.4% +22.5% −9.4% −2.8% −18.0% +22.3% +23.3% +51.7% −27.7% +11.2% +14.6%
Diluted EPS — +10.5% +2.9% +8.1% −6.5% +2.8% +9.2% +1.7% +19.9% −10.5% −7.7% −19.6% +17.4% +21.0% +54.7% −27.3% +7.6% +10.8%
Margins
EBITDA margin 20.6% 22.2% 24.2% 27.0% 26.5% 25.4% 28.3% 33.1% 34.2% 33.2% 34.7% 37.4% 35.5% 29.9% 35.6% 31.6% 31.1% 31.2%
Operating margin 14.6% 15.9% 17.4% 19.2% 18.2% 17.1% 19.3% 23.0% 23.1% 21.6% 21.3% 21.7% 20.7% 16.7% 21.8% 17.5% 17.3% 18.0%
Net margin 6.7% 7.5% 8.2% 9.4% 8.6% 8.5% 9.5% 10.3% 12.7% 11.2% 10.7% 9.0% 9.8% 10.6% 17.2% 11.9% 12.0% 12.5%
Free-cash-flow margin 18.9% 17.7% 23.7% 20.1% 19.0% 20.5% 22.2% −14.7% −2.0% −20.7% −4.3% −15.4% −9.0% −3.4% 14.7% 23.7% 28.4% 22.4%
Cash flow
Cash from operations 2.5 2.4 3.1 2.6 2.6 2.8 3.3 3.5 3.4 2.7 3.1 2.2 2.7 3.9 2.2 3.6 4.8 4.0
Capital spending 0.0 0.0 0.1 0.2 0.2 0.2 0.5 5.2 3.6 5.2 3.7 4.1 4.0 4.5 0.0 0.0 0.0 0.0
Free cash flow 2.5 2.4 3.1 2.4 2.4 2.7 2.8 −1.8 −0.2 −2.6 −0.5 −1.9 −1.2 −0.5 2.2 3.6 4.8 4.0
Stock-based pay — — — — — 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.1 —
Free cash flow after stock pay — — — — — 2.6 2.8 −1.8 −0.3 −2.6 −0.6 −1.9 −1.3 −0.6 2.1 3.6 4.7 —
Balance sheet
Cash 0.3 0.3 0.6 0.4 0.7 0.7 0.9 0.8 0.8 0.9 1.0 1.3 1.0 1.3 1.2 1.3 1.6 1.5
Total debt 10.6 10.7 10.7 11.3 12.4 12.9 14.3 15.8 16.6 19.9 21.7 24.1 24.5 26.1 24.5 26.9 27.4 26.3
Net debt (negative = net cash) 10.3 10.3 10.0 10.9 11.8 12.2 13.3 15.1 15.8 19.0 20.7 22.8 23.5 24.8 23.3 25.6 25.7 24.8
Diluted shares 276m 286m 294m 295m 294m 294m 294m 302m 309m 313m 330m 336m 349m 356m 349m 347m 359m 364m
Returned to shareholders
Dividends 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.8 0.8 0.8 0.9 1.0 1.0 1.1 1.1 1.1 1.2 1.2
Buybacks — — −0.0 0.0 0.0 0.0 −0.0 — — — — — 0.0 0.0 1.0 0.0 0.0 —
Total returned 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.8 0.8 0.8 0.9 1.0 1.0 1.1 2.1 1.1 1.2 1.2

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 2 checks passed · June 30, 2026
What it owns · $76.5bn
Short-term assets $6.8bnLonger-term assets $69.7bn
What it owes, and who funded it · $31.1bn
Short-term liabilities $5.4bnShareholders' equity $25.7bn
  • Short-term assets cover short-term liabilities $6.8bn of assets due within a year against $5.4bn 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 Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $3.2bn against $1.2bn of interest.

From Consolidated Edison'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.

Dividends, buybacks and capital spending

Dividends (TTM)
$1.2B
Buybacks, last 3 fiscal years
$1B
Diluted share count
+3.4%
year over year
Total shareholder yield
2.8%
dividends 2.8% + buybacks 0.0% of market value
Dividend payout ratio
55%
of net income paid out
Days sales outstanding
53 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in multi-utilities
Last 12 months unless stated ED D DTE XEL SRE PCG Median
Revenue, last 12 months $17.7bn $18.1bn $16.5bn $14.9bn $13.6bn $25.8bn $9.0bn
Revenue growth, last 12 months 9.5% 19.0% 15.9% 4.5% 1.6% 4.1% 7.8%
Revenue growth, 3-year average 4.4% 6.9% 0.6% 0.1% −7.2% 4.2% 2.3%
Revenue growth, latest quarter 13.2% 17.6% −1.5% 6.6% −0.1% −1.0% 6.6%
Operating margin 18.0% 21.1% 13.3% 21.7% — 20.2% 20.4%
Operating margin, 3-year average 17.5% 23.4% 15.4% 19.1% — 19.0% 20.4%
Net margin 12.5% 14.0% 8.0% 17.9% 16.8% 11.6% 11.8%
Cash from operations / revenue 22.4% 29.7% 20.4% 34.1% 40.0% 30.3% 28.8%
Free-cash-flow margin 9.2% 16.1% 8.7% −51.2% −38.7% −19.3% −13.3%
Free-cash-flow margin, 3-year average 9.6% 18.9% 11.4% −33.5% −31.1% −15.0% −7.6%
Stock pay / revenue — — 0.7% 0.3% 0.7% 0.5% 0.5%
Change in share count 3.4% 2.7% 0.2% 6.3% 1.3% 1.4% 2.2%

Median of all 17 companies we cover in multi-utilities. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 multi-utilities companies
Measure Company Peer median Rank
Revenue growth Growth 9.5% 7.8% 7 of 17
Change in growth rate Growth +0.4pp -0.2pp 6 of 17
Operating margin Profitability 18.0% 20.5% 13 of 16
Net margin Profitability 12.5% 11.8% 8 of 17
Free-cash-flow margin Cash generation 9.2% -13.3% 4 of 17
Long-term debt as % of assets Balance sheet 34.2% 39.5% 5 of 16
Change in share count Balance sheet 3.4% 2.2% 13 of 17
Days sales outstanding Balance sheet 53 days 39 days 12 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Electricity $12.6B 75.1% ▲ 8.9%
Oil and Gas Purchased $3.6B 21.5% ▲ 16.2%
Steam $703M 4.2% ▲ 21.6%
Non Utility Products and Services $3M 0.0% 0.0%
Other -$131M -0.8% —

From Consolidated Edison's 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$31.1B
Institutions reporting
1,426
Shares held vs prior quarter
▲ 6.7%
Positions opened / closed
105 / 96

Top buyers and sellers, Q2 2026: 720 institutions bought and 488 sold ; the biggest buyer was Blackrock, Inc (+2.2M shares) and the biggest seller Amundi (−1.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $4.6B 41.7M 14.8% ▲ 5.6%
State Street Corp $2.8B 25.1M 8.9% ▲ 0.9%
Vanguard Capital Management LLC $2.7B 24.1M 8.6% ▲ 2.5%
Vanguard Portfolio Management LLC $2.1B 19.1M 6.8% ▲ 2.6%
Geode Capital Management, LLC $1.2B 10.7M 3.8% ▲ 3.5%
Lazard Asset Management LLC $931M 8.4M 3.0% ▲ 19.0%
Deutsche Bank Ag\ $749M 6.8M 2.4% ▲ 16.8%
Price T Rowe Associates Inc $624M 5.6M 2.0% ▲ 8.4%
Morgan Stanley $610M 5.5M 2.0% ▲ 3.0%
UBS Am, A Distinct Business Unit Of UBS Asset Management Americas LLC $536M 4.8M 1.7% ▲ 7.9%
Norges Bank $517M 4.7M 1.7% —
Legal & General Group PLC $494M 4.5M 1.6% ▼ 1.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Consolidated Edison's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $434 4 trades by 1 insider, last 12 months Insider sales History → $1.3M 3 trades by 3 insiders · 0% under pre-set plans
Net ▼ $1.3M net selling
Insider Date Trade Shares Price Value
Miller Joseph VP & Controller September 15, 2026 Buy 1 $105.81 $111
Miller Joseph VP & Controller June 15, 2026 Buy 1 $106.87 $110
Miller Joseph VP & Controller March 16, 2026 Buy 1 $115.55 $109
Donnley Deneen L SVP and General Counsel March 12, 2026 Sell 1,922 $113.94 $218,993
Mulrow William J Director February 27, 2026 Sell 7,912 $112.81 $892,553
Miller Joseph VP & Controller December 15, 2025 Buy 1 $97.68 $104
Killian John F Director December 11, 2025 Sell 2,276 $96.89 $220,522

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 9 trades and filings

No trades in Consolidated Edison disclosed in the last 12 months; 9 earlier trades on record.

  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded May 15, 2025, filed June 9, 2025
  • Daniel S. Goldman(D-NY 10):Purchase, $15,001 - $50,000, traded March 6, 2023, filed April 17, 2023
  • Dean Phillips(D-MN 3):Sale (partial), $1,001 - $15,000, traded December 18, 2020, filed January 9, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 8, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 19, 2026
  • November 6, 2025
  • August 7, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Consolidated Edison was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Consolidated Edison in brief

What does Consolidated Edison do?
Consolidated Edison is a US-listed company in the multi-utilities industry. Its financial year ends in December.
What is Consolidated Edison's stock ticker?
Consolidated Edison trades under the ticker ED on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Consolidated Edison's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Consolidated Edison reported revenue of $17.7B, 9.5% higher than a year earlier, according to its SEC filings.
What is Consolidated Edison's free cash flow?
Consolidated Edison's free-cash-flow margin is 9.2% of revenue over the trailing twelve months, ranking 4 of the 17 multi-utilities companies we cover.
Who are Consolidated Edison's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., State Street Corp and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Consolidated Edison's market cap?
On November 2, 2026, Consolidated Edison's market capitalisation was about $43.1B, with a price-to-earnings ratio of 19.5 and net debt of $24.8B. Market figures come from third-party market data and may be delayed.
Does Consolidated Edison pay a dividend?
Yes: Consolidated Edison paid $1.2B in dividends over the trailing twelve months, a dividend yield of 2.84% and a payout ratio of 54.8%.
Who are Consolidated Edison's competitors?
In our Multi-Utilities peer group, the companies closest to Consolidated Edison are Dominion Energy, DTE Energy, Xcel Energy, Sempra and PG&E Corporation. The side-by-side comparison below sets their revenue, margins and growth against Consolidated Edison's.
Are insiders buying or selling Consolidated Edison stock?
Over the last 12 months, Consolidated Edison's directors and officers reported 4 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Consolidated Edison's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Consolidated Edison announces its own schedule.