undamentalytics Newsletter
Sign in

OGE Energy Corp. (OGE) stock

Add to watchlist

Add holding +

NYSE: OGE NYSE Electric Utilities Next results ~February 17, 2027

C+ Fundamentals grade

OGE Energy Corp. is a US-listed company in the electric utilities industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$51

Valuation models combined (5)

Base case. Range ~$41–$57. Weighted average of 5 models (utility earnings model, forward price-to-earnings vs peers, justified price-to-book, residual income, dividend discount (two-stage)), the utility earnings model counting double.

Price vs value

Modestly undervalued

The price is inside our value range, 2% below our base value.

Price used: $50.21, November 2, 2026

OGE Energy Corp. 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 selling1 purchase and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds336 adding, 202 cuttingOf 59 active managers that changed their stake, 32 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter OGE Energy files

10-Q filed October 28: OGE Energy

Model value +1.2%

Revenue for the twelve months to September 2026 reached $3.37bn, a 2.4% rise on a year earlier and an acceleration from the 0.6% growth recorded a quarter earlier. That pace ranks 14 of 16 for growth among the electric utilities we cover. Free cash flow margin improved to 6.2% from -5.1% a year earlier. Diluted share count is up 2.4% on a year earlier, diluting existing holders. On the back of these figures, the fundamentals grade moves from C to B. Our model value edges up from $46.05 to $46.61 a share, set against a share price of $48.58. The rating stays Hold.

Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where OGE Energy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.24bn, up 0.6% on a year earlier, slower than 4.1% a quarter earlier. That puts it 806 of 931 for growth among all the companies we cover. Free-cash-flow margin rose to 8.5% from -7.2% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 7 financial-health checks. Our valuation models combined value is $46.53 a share, against a share price of $47.57.

10-Q on SEC EDGAR

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 ~February 17, 2027 (estimated)

OGE Energy Corp.'s trailing-twelve-month revenue grew 2.4% year on year, with a free-cash-flow margin of 6.2%. Where it stands out: net margin of 16.4% ranks 4 of 25 electric utilities companies we cover. Where it lags: revenue growth of 2.4% ranks 23 of 25 electric utilities companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 11% in the quarter to 2026-09-30, the 3rd beat in the last four quarters.

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

  • High operating margin. 25.8% of revenue is left as operating profit, against a median of 22.5% for electric utilities companies we cover.

Things to watch

  • Share dilution. Diluted shares rose 2.4% in a year.
  • High debt. Long-term debt exceeds cash by $5.5bn, more than 1.5 times annual revenue.
  • Weak cash conversion. Free cash flow was 38% of net income over the last 12 months.
  • Below peers: revenue growth. Revenue growth of 2.4% ranks 23 of 25 electric utilities companies we cover (median 6.4%).
  • Below peers: days sales outstanding. Days sales outstanding of 50 days ranks 15 of 18 electric utilities companies we cover (median 45 days).

Latest results: FY2026 Q3

Filed October 28, 2026
Earnings per share
$1.52 against an average estimate of $1.37: beat by 10.9%
Revenue
$1.18bn, up 13.2% on a year earlier
Share reaction
+0.9% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
consolidated earnings guidance $2.38 to $2.48 (2026)
Next report
October 28, 2026; average EPS estimate $0.31

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

Price chart

  • 1 day+1.5%
  • 1 week+3.6%
  • 1 month+11.8%
  • This year+22.0%
  • 1 year+18.0%
  • 5 years+79.2%
  • S&P 500 this year+11.2%

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

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.4B
Operating margin
25.8%
Net margin
16.4%
EPS (TTM, diluted)
$2.67

Growth

Revenue growth
+2.4%
Change in growth rate
+1.8 pts
Share count change
+2.4%

Cash

Free cash flow (TTM)
$209M
FCF margin
6.2%
Stock pay % of revenue
0.5%

Earnings

Last results
October 28, 2026
Next results (est.)
February 17, 2027

News & updates

Updated October 31, 2026

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

  1. Results
  2. Announcement
  3. Our research
  4. Leadership
  5. Leadership
  6. Results
  7. 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

OGE Energy Corp. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$51
Price used
$49.80close November 3, 2026
Implied change
▲ +3%
Uncertainty
Low

How we got here: the combined value of 5 valuation models built for a business like OGE Energy Corp. (see the models table below and how they are combined) , with a 7.12% cost of equity. The models span ~$41–~$57; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of OGE Energy Corp.'s free cash flow after stock-based pay ( $183M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value OGE Energy Corp. as an utility or power producer, with every model that fits that kind of business. Cost of equity 7.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.48 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$55 ~$45–$69 Primary model, counts double
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. ~$41 ~$40–$50 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$57 ~$46–$76 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$44 ~$32–$64 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$57 ~$45–$76 Included
Combined value Weighted average of the models that apply: the primary model (utility earnings model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$51 ~$41–$57 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare OGE Energy Corp. 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$16.66$22.03$22.46$27.83$32.71$24.57$31.09$33.45$30.92$38.25$41.15$50.21
Market value$3.3bn$4.4bn$4.5bn$5.6bn$6.6bn$4.9bn$6.2bn$6.7bn$6.2bn$7.7bn$8.3bn$10.4bn
+ Net debt (− = net cash)$2.7bn$2.9bn$3.2bn$3.1bn$3.3bn$3.6bn$5.0bn$4.5bn$4.8bn$5.5bn$5.7bn$5.8bn
Enterprise value$6.0bn$7.3bn$7.6bn$8.6bn$9.9bn$8.5bn$11.2bn$11.2bn$11.1bn$13.2bn$14.0bn$16.2bn
Multiples
Price / sales 1.5x1.9x2.0x2.5x2.9x2.3x1.7x2.0x2.3x2.6x2.6x3.1x
Price / earnings 12.3x13.0x7.3x13.1x15.1x—8.4x10.1x14.9x17.4x17.7x18.8x
Price / free cash flow 10.4x——14.8x142.7x78.9x——114.8x—100.8x49.6x
EV / EBITDA 7.6x8.5x9.4x10.6x11.5x9.3x11.7x10.1x9.6x10.3x10.3x11.3x

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

55 /100

Moderate moat

How hard OGE Energy'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 3 / 20

    Net income has been a median 3.7% of total assets over 10 years.

  • Pricing power 15 / 20

    Gross margin has been a median 61.9%, moving by 7.2 percentage points (standard deviation) across 10 years.

  • Durability 17 / 20

    Operating margin has been a median 23.0%; its worst year was 15.3%.

  • Cash conversion 5 / 20

    Free cash flow was positive in 5 of 10 years, at a median -1.3% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 3.4% over five years; stock-based pay has been a median 0.4% 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.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.46 +6% $3.4bn +6%
Next $2.61 +6% $3.6bn +6%

Next year's EPS estimate has moved +0.3% in 90 days, across 13 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.2% on 90 days ago. In the last 30 days, 1 analyst raised OGE Energy Corp.'s forecast and 2 cut it.

Consensus EPS forecast OGE Energy Corp., last 90 days
$2.40 $2.45 $2.50 $2.55 $2.60 $2.65 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.43 Current fiscal year, 60 days ago: $2.43 Current fiscal year, 30 days ago: $2.43 Current fiscal year, 7 days ago: $2.43 Current fiscal year, Now: $2.46 $2.46 Next fiscal year, 90 days ago: $2.60 Next fiscal year, 60 days ago: $2.60 Next fiscal year, 30 days ago: $2.60 Next fiscal year, 7 days ago: $2.61 Next fiscal year, Now: $2.61 $2.61

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.43$2.60
60 days ago $2.43$2.60
30 days ago $2.43$2.60
7 days ago $2.43$2.61
Now $2.46$2.61

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.37 $1.52 +10.9%
Jun 2026 $0.55 $0.56 +1.0%
Mar 2026 $0.25 $0.24 −2.3%
Dec 2025 $0.32 $0.33 +3.0%

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

Management guidance

Earnings release, July 29, 2026
  • consolidated earnings guidance 2026 $2.38 to $2.48 Maintained
    “OGE Energy's 2026 consolidated earnings guidance remains unchanged and is projected to be $2.43 per average diluted share, within a range of $2.38 to $2.48 per average diluted share.” 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.

How our valuation uses these forecasts

Our cash-flow model grows OGE Energy Corp.'s revenue by +6.3% next year and +4.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+7.2%, weight 68%) and the company's own record (+4.3%, weight 32%) . How the weights are set.

Analyst recommendations

14 analysts, Oct 2026
Buy536%
Hold857%
Sell17%

Monthly trend

  1. Oct 2026328114
  2. Sep 202642814
  3. Aug 2026228113
  4. Jul 2026229114

Counts of recommendations published by analysts covering OGE Energy Corp., 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
7.5%
of tradable shares
Days to cover
5.87
at average volume
Short interest, 1 month
+10%
to October 15, 2026
Held by institutions
82%
of shares
Held by insiders
0.4%
of shares
Employees
2,248
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 +18.0%

$42.54 on October 31, 2025 to $50.21

ThenNowEffect
Revenue (last 12 months) $3.2bn $3.2bn +0.6%
Net margin 15.3% 14.4% −5.4%
P/E multiple 17.5x 22.1x +26.2%
Share count 202m 205m −1.7%

Biggest factor: p/e multiple.

Last 3 years +60.9%

$31.21 on November 3, 2023 to $50.21

ThenNowEffect
Revenue (last 12 months) $3.1bn $3.2bn +2.9%
Net margin 14.0% 14.4% +3.2%
P/E multiple 14.3x 22.1x +54.8%
Share count 201m 205m −2.1%

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
OGE+27%+8%−8%+24%+8%+22%
Industry peers (median)+18%−1%−4%+16%+17%+4%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
OGE67%42%58%58%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
OGE−10%−20%−19%−9%−10%−11%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 49% from January 30, 2020 to March 23, 2020. Getting back needed a 96% gain, reached on April 6, 2022, 744 days after the low.

Price behaviour

52-week range
$40.96 – $50.21
From 52-week high
0.0%
vs 50-day average
+8.3%
vs 200-day average
+8.1%
Volatility (1 year)
17%
Beta vs S&P 500
-0.04

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
8 up, 4 down
typical move ±1.9%
After a week
8 up, 3 down
typical move ±2.9%
After a month
7 up, 4 down
typical move ±3.0%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +0.9% 0.0% — —
July 29, 2026 −4.1% +0.1% −4.6% −6.6%
April 29, 2026 +2.5% +1.0% +0.3% −0.8%
February 18, 2026 −0.4% +0.2% +3.2% +1.0%
October 29, 2025 −2.0% −1.1% −3.0% +0.9%
July 30, 2025 +1.1% −0.5% +1.6% −0.6%
April 30, 2025 −2.0% +0.7% −1.1% −2.7%
February 19, 2025 +1.0% −0.2% +3.6% +3.2%
November 5, 2024 +5.9% +3.7% +8.7% +8.2%
August 7, 2024 +0.9% +1.6% +1.2% +2.0%
May 1, 2024 +1.1% +0.6% +4.0% +4.8%
February 21, 2024 +1.0% +2.2% +0.6% +2.0%

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.

Options strategies

All options ideas

How OGE Energy Corp.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

OGE Energy Corp. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

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) OGE Energy Corp.
$2.6B $2.8B $3B $3.2B $3.4B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $2.7B Revenue (TTM), FY24 Q1: $2.7B Revenue (TTM), FY24 Q2: $2.8B Revenue (TTM), FY24 Q3: $2.8B Revenue (TTM), FY24 Q4: $3B Revenue (TTM), FY25 Q1: $3.1B Revenue (TTM), FY25 Q2: $3.2B Revenue (TTM), FY25 Q3: $3.3B Revenue (TTM), FY25 Q4: $3.3B Revenue (TTM), FY26 Q1: $3.3B Revenue (TTM), FY26 Q2: $3.2B Revenue (TTM), FY26 Q3: $3.4B $3.4B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $2.7B
FY24 Q1 $2.7B
FY24 Q2 $2.8B
FY24 Q3 $2.8B
FY24 Q4 $3B
FY25 Q1 $3.1B
FY25 Q2 $3.2B
FY25 Q3 $3.3B
FY25 Q4 $3.3B
FY26 Q1 $3.3B
FY26 Q2 $3.2B
FY26 Q3 $3.4B
Revenue growth, TTM YoY OGE Energy Corp.
-30% -20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -20.8% Revenue growth, TTM YoY, FY24 Q1: -18.8% Revenue growth, TTM YoY, FY24 Q2: -11.9% Revenue growth, TTM YoY, FY24 Q3: -1.0% Revenue growth, TTM YoY, FY24 Q4: 11.6% Revenue growth, TTM YoY, FY25 Q1: 15.6% Revenue growth, TTM YoY, FY25 Q2: 16.0% Revenue growth, TTM YoY, FY25 Q3: 18.0% Revenue growth, TTM YoY, FY25 Q4: 9.2% Revenue growth, TTM YoY, FY26 Q1: 4.1% Revenue growth, TTM YoY, FY26 Q2: 0.6% Revenue growth, TTM YoY, FY26 Q3: 2.4% 2.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -20.8%
FY24 Q1 -18.8%
FY24 Q2 -11.9%
FY24 Q3 -1.0%
FY24 Q4 11.6%
FY25 Q1 15.6%
FY25 Q2 16.0%
FY25 Q3 18.0%
FY25 Q4 9.2%
FY26 Q1 4.1%
FY26 Q2 0.6%
FY26 Q3 2.4%
Operating margin (TTM) OGE Energy Corp.
23% 24% 25% 26% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 24.3% Operating margin (TTM), FY24 Q1: 23.9% Operating margin (TTM), FY24 Q2: 24.4% Operating margin (TTM), FY24 Q3: 23.6% Operating margin (TTM), FY24 Q4: 25.0% Operating margin (TTM), FY25 Q1: 25.7% Operating margin (TTM), FY25 Q2: 25.4% Operating margin (TTM), FY25 Q3: 25.6% Operating margin (TTM), FY25 Q4: 24.5% Operating margin (TTM), FY26 Q1: 23.9% Operating margin (TTM), FY26 Q2: 24.2% Operating margin (TTM), FY26 Q3: 25.8% 25.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 24.3%
FY24 Q1 23.9%
FY24 Q2 24.4%
FY24 Q3 23.6%
FY24 Q4 25.0%
FY25 Q1 25.7%
FY25 Q2 25.4%
FY25 Q3 25.6%
FY25 Q4 24.5%
FY26 Q1 23.9%
FY26 Q2 24.2%
FY26 Q3 25.8%
FCF margin (TTM) OGE Energy Corp.
-20% -10% 0% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 2.0% FCF margin (TTM), FY24 Q1: 0.9% FCF margin (TTM), FY24 Q2: -3.1% FCF margin (TTM), FY24 Q3: -3.5% FCF margin (TTM), FY24 Q4: -9.3% FCF margin (TTM), FY25 Q1: -11.7% FCF margin (TTM), FY25 Q2: -7.2% FCF margin (TTM), FY25 Q3: -5.1% FCF margin (TTM), FY25 Q4: 2.5% FCF margin (TTM), FY26 Q1: 6.9% FCF margin (TTM), FY26 Q2: 8.5% FCF margin (TTM), FY26 Q3: 6.2% 6.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 2.0%
FY24 Q1 0.9%
FY24 Q2 -3.1%
FY24 Q3 -3.5%
FY24 Q4 -9.3%
FY25 Q1 -11.7%
FY25 Q2 -7.2%
FY25 Q3 -5.1%
FY25 Q4 2.5%
FY26 Q1 6.9%
FY26 Q2 8.5%
FY26 Q3 6.2%

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 OGE Energy 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 $3.3B
  2. Cost of revenue $1.3B · 38.6%
  3. Gross profit $2B · 61.4%
  4. Other operating costs $1.2B · 36.8%
  5. Operating income $799M · 24.5%
  6. Income tax $89.8M · 2.8%
  7. Interest and other $239M · 7.3%
  8. Net income $471M · 14.4%

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

Financial statements

US$ millions 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 Sept 2026
Income
Revenue 2,870 3,717 3,916 3,671 2,868 2,453 2,197 2,259 2,261 2,270 2,232 2,122 3,654 3,376 2,674 2,985 3,260 3,373
Gross profit 1,312 1,530 1,638 1,753 1,439 1,347 1,332 1,379 1,364 1,378 1,445 1,478 1,526 1,713 1,763 1,909 2,000 2,091
EBITDA 755 885 954 1,052 852 818 789 853 815 811 859 914 960 1,110 1,157 1,285 1,359 1,430
Operating income 492 594 647 677 554 537 481 531 532 490 504 522 544 650 650 745 799 871
Net income 258 295 343 355 388 396 271 338 619 426 434 −174 737 666 417 442 471 552
Diluted EPS $1.33 $1.50 $1.73 $1.79 $1.94 $1.98 $1.36 $1.69 $3.10 $2.12 $2.16 −$0.87 $3.68 $3.32 $2.07 $2.19 $2.32 $2.67
Growth (year on year)
Revenue −29.5% +29.5% +5.4% −6.2% −21.9% −14.5% −10.4% +2.8% +0.1% +0.4% −1.7% −4.9% +72.2% −7.6% −20.8% +11.6% +9.2% +2.4%
EBITDA +11.0% +17.3% +7.8% +10.2% −19.0% −4.0% −3.6% +8.1% −4.5% −0.5% +5.9% +6.3% +5.1% +15.6% +4.2% +11.1% +5.8% +2.2%
Operating income +6.4% +20.7% +8.9% +4.7% −18.2% −3.0% −10.4% +10.3% +0.2% −8.0% +3.0% +3.5% +4.2% +19.3% +0.1% +14.6% +7.3% +3.3%
Net income +11.6% +14.3% +16.1% +3.5% +9.2% +2.1% −31.5% +24.7% +83.0% −31.3% +1.9% −140.1% — −9.7% −37.4% +5.9% +6.6% +9.6%
Diluted EPS +6.8% +12.4% +15.7% +3.5% +8.4% +2.1% −31.3% +24.3% +83.4% −31.6% +1.9% −140.3% — −9.8% −37.7% +5.8% +5.9% +7.1%
Margins
Gross margin 45.7% 41.1% 41.8% 47.7% 50.2% 54.9% 60.6% 61.0% 60.3% 60.7% 64.7% 69.6% 41.8% 50.8% 65.9% 63.9% 61.4% 62.0%
EBITDA margin 26.3% 23.8% 24.4% 28.7% 29.7% 33.4% 35.9% 37.8% 36.1% 35.7% 38.5% 43.0% 26.3% 32.9% 43.3% 43.0% 41.7% 42.4%
Operating margin 17.1% 16.0% 16.5% 18.4% 19.3% 21.9% 21.9% 23.5% 23.5% 21.6% 22.6% 24.6% 14.9% 19.2% 24.3% 25.0% 24.5% 25.8%
Net margin 9.0% 7.9% 8.8% 9.7% 13.5% 16.1% 12.3% 15.0% 27.4% 18.7% 19.4% −8.2% 20.2% 19.7% 15.6% 14.8% 14.4% 16.4%
Free-cash-flow margin −6.7% −2.6% −11.1% −2.8% −12.8% 6.2% 14.5% −0.7% −1.8% 16.6% 2.1% 2.9% −27.6% −2.9% 2.0% −9.3% 2.5% 6.2%
Cash flow
Cash from operations 655 783 834 1,046 623 722 867 645 785 951 682 713 −230 952 1,232 813 1,137 1,279
Capital spending 848 880 1,270 1,151 991 569 548 660 824 574 636 651 779 1,051 1,178 1,091 1,054 1,070
Free cash flow −193 −97 −437 −105 −367 152 319 −15 −40 378 46 62 −1,008 −99 54 −278 83 209
Stock-based pay 4 7 8 −3 −4 −3 8 5 9 13 14 10 10 10 13 12 14 16
Free cash flow after stock pay −197 −105 −444 −102 −364 155 312 −20 −49 364 32 53 −1,018 −108 41 −290 69 194
Balance sheet
Cash 58 2 5 2 7 6 75 0 14 94 0 1 0 88 0 1 0 0
Total debt 2,553 2,508 3,014 3,280 2,840 2,853 2,739 2,867 3,168 3,147 3,307 3,589 4,983 4,549 4,840 5,523 5,661 5,850
Net debt (negative = net cash) 2,495 2,506 3,010 3,278 2,833 2,848 2,664 2,866 3,153 3,053 3,307 3,588 4,983 4,461 4,840 5,522 5,661 5,850
Diluted shares 194m 198m 199m 198m 199m 200m 200m 200m 200m 201m 201m 200m 200m 201m 201m 201m 203m 207m
Returned to shareholders
Dividends 136 141 147 155 166 184 205 225 248 272 299 315 325 329 333 339 342 350
Buybacks 0 0 6 3 0 0 — — — 0 0 15 0 0 — — — —
Total returned 136 141 153 158 166 184 205 225 248 272 299 330 325 329 333 339 342 350

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 7 checks passed · September 30, 2026
What it owns · $14.9bn
Short-term assets $982mLonger-term assets $14.0bn
What it owes, and who funded it · $14.9bn
Short-term liabilities $1.2bnLonger-term liabilities $8.5bnShareholders' equity $5.2bn
  • Short-term assets cover short-term liabilities $982m of assets due within a year against $1.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $982m short-term assets against $8.5bn of longer-dated liabilities.
  • More cash than debt $200,000 of cash against $5.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 109% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 105% to 109% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.3bn of operating cash flow against $5.7bn of debt.
  • Operating profit covers interest at least five times over Operating income of $871m against $251m of interest.

From OGE Energy Corp.'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)
$350M
Returned to shareholders
167%
of free cash flow
Diluted share count
+2.4%
year over year
Total shareholder yield
3.4%
dividends 3.4% + buybacks 0.0% of market value
Dividend payout ratio
64%
of net income paid out
Days sales outstanding
50 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electric utilities
Last 12 months unless stated OGE HE POR LNT AQN ELPC Median
Revenue, last 12 months $3.4bn $3.3bn $3.6bn $4.4bn $2.4bn $4.7bn $9.4bn
Revenue growth, last 12 months 2.4% 5.1% 1.2% 6.8% 4.9% 10.8% 6.4%
Revenue growth, 3-year average 6.2% −0.9% 7.2% 1.9% — — 3.7%
Revenue growth, latest quarter 13.2% 25.9% 2.0% 1.0% — — 4.3%
Gross margin 62.0% — — 85.8% 69.0% 21.7% 65.9%
Operating margin 25.8% 11.5% 14.4% 22.1% 20.7% −2.4% 22.3%
Operating margin, 3-year average 25.0% −11.1% 15.3% 22.7% 21.2% −2.6% 22.4%
Net margin 16.4% 6.9% 7.7% 18.4% 7.4% 10.3% 13.3%
Cash from operations / revenue 37.9% −4.4% 27.0% 26.1% 24.4% 11.6% 27.0%
Free-cash-flow margin 6.2% −17.2% −11.7% −23.8% −7.3% 16.4% −10.0%
Free-cash-flow margin, 3-year average −0.8% −4.3% −11.4% −22.6% −25.1% — −8.2%
Stock pay / revenue 0.5% 0.1% — 0.7% 0.5% — 0.4%
Change in share count 2.4% 9.6% 6.1% 0.8% 5.2% 0.0% 1.7%

Median of all 25 companies we cover in electric 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

25 electric utilities companies
Measure Company Peer median Rank
Revenue growth Growth 2.4% 6.4% 23 of 25
Change in growth rate Growth +1.8pp -0.1pp 8 of 25
Gross margin Profitability 62.0% 65.9% 4 of 6
Operating margin Profitability 25.8% 22.5% 5 of 24
Net margin Profitability 16.4% 13.3% 4 of 25
Free-cash-flow margin Cash generation 6.2% -10.0% 4 of 24
Stock pay as % of revenue Cash generation 0.5% 0.5% 4 of 8
Long-term debt as % of assets Balance sheet 37.0% 40.9% 8 of 24
Change in share count Balance sheet 2.4% 1.7% 15 of 23
Days sales outstanding Balance sheet 50 days 45 days 15 of 18

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
Segments
Line of business Revenue Share YoY
Electrics Company $3.3B 100.0% ▲ 9.2%
All Other Segments $0 0.0% —

From OGE Energy Corp.'s 10-K filed February 18, 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
$8.1B
Institutions reporting
640
Shares held vs prior quarter
▲ 4.8%
Positions opened / closed
66 / 49

Top buyers and sellers, Q2 2026: 336 institutions bought and 202 sold ; the biggest buyer was AQR Capital Management LLC (+2.4M shares) and the biggest seller Morgan Stanley (−556K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.3B 26.3M 15.8% ▲ 4.3%
Vanguard Portfolio Management LLC $519M 10.7M 6.4% ▼ 0.4%
Vanguard Capital Management LLC $453M 9.3M 5.6% ▲ 1.1%
State Street Corp $352M 7.2M 4.4% ▲ 2.8%
Clearbridge Investments, LLC $321M 6.6M 4.0% ▲ 6.9%
Boston Partners $277M 5.7M 3.4% ▲ 3.1%
AQR Capital Management LLC $245M 5.0M 3.0% ▲ 89.5%
T. Rowe Price Investment Management, Inc. $202M 4.1M 2.5% ▼ 10.5%
Geode Capital Management, LLC $191M 3.9M 2.4% ▲ 0.7%
Norges Bank $160M 3.3M 2.0% —
Dimensional Fund Advisors LP $134M 2.8M 1.7% ▲ 2.3%
Franklin Resources Inc $121M 2.5M 1.5% ▲ 6.8%

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 OGE Energy Corp.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $500,056 1 trade by 1 insider, last 12 months Insider sales History → $945,254 3 trades by 3 insiders · 0% under pre-set plans
Net ▼ $445,198 net selling
Insider Date Trade Shares Price Value
Jones Donnie O. SVP- Utility Operations (OG&E) August 27, 2026 Sell 6,508 $46.11 $300,084
Sultemeier William H GC, Corp. Sec, CCO May 21, 2026 Sell 7,345 $47.97 $352,340
Stafford Sarah R. Controller and CAO February 24, 2026 Sell 6,130 $47.77 $292,830
Ganske Lyle G. Director February 23, 2026 Buy 10,420 $47.99 $500,056

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 5 trades and filings

No trades in OGE Energy Corp. disclosed in the last 12 months; 5 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded September 11, 2025, filed October 22, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded August 13, 2025, filed September 12, 2025
  • Jefferson Shreve(R-IN 6):Sale (full), $100,001 - $250,000, traded May 12, 2025, filed June 22, 2025

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

Earnings dates and SEC filings

Results announcements

Next expected around February 17, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • April 29, 2026
  • February 18, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on OGE Energy Corp. 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.

OGE Energy Corp. in brief

What does OGE Energy Corp. do?
OGE Energy Corp. is a US-listed company in the electric utilities industry. Its financial year ends in December.
What is OGE Energy Corp.'s stock ticker?
OGE Energy Corp. trades under the ticker OGE on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is OGE Energy Corp.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, OGE Energy Corp. reported revenue of $3.4B, 2.4% higher than a year earlier, according to its SEC filings.
What is OGE Energy Corp.'s free cash flow?
OGE Energy Corp.'s free-cash-flow margin is 6.2% of revenue over the trailing twelve months, ranking 4 of the 24 electric utilities companies we cover.
Who are OGE Energy Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC 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 OGE Energy Corp.'s market cap?
On November 2, 2026, OGE Energy Corp.'s market capitalisation was about $10.4B, with a price-to-earnings ratio of 18.8 and net debt of $5.8B. Market figures come from third-party market data and may be delayed.
Does OGE Energy Corp. pay a dividend?
Yes: OGE Energy Corp. paid $350M in dividends over the trailing twelve months, a dividend yield of 3.35% and a payout ratio of 63.5%.
How much debt does OGE Energy Corp. have?
OGE Energy Corp.'s debt-to-equity ratio is 109.5%, from its latest balance sheet (105.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are OGE Energy Corp.'s competitors?
In our Electric Utilities peer group, the companies closest to OGE Energy Corp. are Hawaiian Electric Industries Inc, Portland General Electric Co, Alliant Energy, Algonquin Power & Utilities Corp. and Energy Co Of Parana. The side-by-side comparison below sets their revenue, margins and growth against OGE Energy Corp.'s.
Are insiders buying or selling OGE Energy Corp. stock?
Over the last 12 months, OGE Energy Corp.'s directors and officers reported 1 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is OGE Energy Corp.'s next earnings date?
Around February 17, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — OGE Energy Corp. announces its own schedule.