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Held by 923 of 6,047 reporting institutions (98th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 14 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DUK | $91.0B | 18.5× | 10.6× | 2.9× | 5.6% | — | 15.7% | 9.6% | 3.7% | 5.0× | 2,397 |
| EXC | $43.0B | — | 11.0× | 1.8× | 5.3% | — | 11.4% | 9.6% | 3.6% | 5.8× | 1,243 |
| PCG | $39.4B | 11.1× | — | 1.6× | 2.1% | — | 10.8% | 8.3% | 2.9% | — | 917 |
| ED | $39.2B | 18.8× | — | 2.3× | 10.9% | — | 12.0% | 8.4% | 4.0% | — | 1,395 |
| PEG | $36.0B | 17.1× | — | 3.0× | 18.3% | — | 17.3% | 12.4% | 5.3% | — | 1,268 |
| WEC | $33.8B | 21.6× | 14.6× | 3.5× | 14.0% | 66.7% | 15.9% | 11.1% | 4.5% | 5.5× | 1,353 |
| AEE | $28.3B | 19.1× | — | 3.2× | 15.4% | — | 16.6% | 10.9% | 4.5% | — | 923 |
| CMS | $20.5B | 18.6× | 12.8× | 2.4× | 13.6% | — | 12.5% | 11.7% | 3.8% | 6.0× | 790 |
| NI | $19.5B | 20.9× | 6.7× | 3.0× | 23.5% | — | 14.3% | 9.8% | 9.1% | 0.2× | 872 |
| EVRG | $18.7B | 22.1× | 12.9× | 3.1× | 2.0% | — | 14.4% | 8.4% | 3.6% | 5.4× | 908 |
| LNT | $17.1B | 21.0× | 15.3× | 3.9× | 9.6% | 85.7% | 18.6% | 11.0% | 4.2% | 6.1× | 852 |
| NWE | $4.6B | 25.2× | 13.7× | 2.8× | 6.4% | — | 11.2% | 6.3% | 2.9% | 5.8× | 362 |
| AVA | $3.0B | 14.9× | 5.2× | 1.5× | 1.3% | — | 9.8% | 7.1% | 6.2% | 0.6× | 404 |
| UTL | $953M | 17.6× | — | 1.8× | 8.3% | — | 9.4% | 8.2% | 3.4% | — | 237 |
| GNE | $438M | 18.5× | 8.5× | 0.9× | 18.1% | 24.8% | 4.8% | 9.6% | 9.2% | -6.8× | 107 |
Peers = companies sharing AEE's sector (Electric & Other Services Combined) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow on any basis, so a reverse DCF can't be run.
What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $768.0M dividends + $0 buybacks = $768.0M returned on -$775.0M FCF.
9 consecutive years of dividend increases · 6%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 5%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-09
Where each multiple sits in its own 14-yr range · 87th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 11% against ROIC 5% — 6% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 2.2× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating Income | 21.6 | 21.4 | 22.4 | 20.8 | 19.0 | 20.8 | 19.9 | 23.0 |
| Income Tax | 3.8 | 3.1 | 2.7 | 2.5 | 2.2 | 2.4 | 1.1 | 1.5 |
| Net Income | 13.1 | 14.1 | 15.1 | 15.6 | 13.6 | 15.4 | 15.6 | 16.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AEE: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $13.0M is below the $973.0M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.1% on $18.86B of debt.
Cash of $13.0M is below short-term debt of $643.0M — relies on refinancing/operations.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-09
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.80B 100.0% | $7.62B 100.0% | $7.50B 100.0% | $7.96B 100.0% | $6.39B 100.0% | $5.79B 100.0% | $5.91B 100.0% | $6.29B 100.0% | $6.17B 100.0% | $6.08B 100.0% |
| Total Operating Expenses | $6.77B 77.0% | $6.11B 80.1% | $5.94B 79.2% | $6.44B 81.0% | $5.06B 79.2% | $4.49B 77.6% | $4.64B 78.6% | $4.93B 78.4% | $4.76B 77.2% | $4.75B 78.2% |
| Operating Income | $2.03B 23.0% | $1.52B 19.9% | $1.56B 20.8% | $1.51B 19.0% | $1.33B 20.8% | $1.30B 22.4% | $1.27B 21.4% | $1.36B 21.6% | $1.41B 22.8% | $1.32B 21.8% |
| Interest Expense | $776.0M 8.8% | $663.0M 8.7% | $566.0M 7.5% | $486.0M 6.1% | $383.0M 6.0% | $419.0M 7.2% | $381.0M 6.4% | $401.0M 6.4% | $391.0M 6.3% | $382.0M 6.3% |
| Other Income (Expense), net | $347.0M 3.9% | $417.0M 5.5% | $348.0M 4.6% | $226.0M 2.8% | $202.0M 3.2% | $151.0M 2.6% | $130.0M 2.2% | $102.0M 1.6% | $86.0M 1.4% | $101.0M 1.7% |
| Pretax Income | $1.60B 18.1% | $1.27B 16.7% | $1.34B 17.9% | $1.25B 15.8% | $1.15B 18.0% | $1.03B 17.8% | $1.02B 17.2% | $1.06B 16.8% | $1.10B 17.9% | $1.04B 17.1% |
| Income Tax Expense | $136.0M 1.5% | $83.0M 1.1% | $183.0M 2.4% | $176.0M 2.2% | $157.0M 2.5% | $155.0M 2.7% | $182.0M 3.1% | $237.0M 3.8% | $576.0M 9.3% | $382.0M 6.3% |
| Net Income | $1.46B 16.6% | $1.19B 15.6% | $1.16B 15.4% | $1.08B 13.6% | $995.0M 15.6% | $877.0M 15.1% | $834.0M 14.1% | $821.0M 13.1% | $523.0M 8.5% | $653.0M 10.7% |
| Per Share | ||||||||||
| EPS (Basic) | $5.38 | $4.43 | $4.39 | $4.16 | $3.86 | $3.53 | $3.37 | $3.34 | $2.16 | $2.69 |
| EPS (Diluted) | $5.35 | $4.42 | $4.38 | $4.14 | $3.84 | $3.50 | $3.35 | $3.32 | $2.14 | $2.68 |
| Weighted Avg Shares (Basic) | 270.5M | 266.8M | 262.8M | 258.4M | 256.3M | 247.0M | 245.6M | 243.8M | 242.6M | 242.6M |
| Weighted Avg Shares (Diluted) | 272.2M | 267.4M | 263.4M | 259.5M | 257.6M | 248.7M | 247.1M | 245.8M | 244.2M | 243.4M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Earns -2.93pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 6.6% | 8.5% (today's — no rate published for this year) | -1.9pts |
| FY2020 | 5.7% | 8.5% (today's — no rate published for this year) | -2.7pts |
| FY2021 | 5.3% | 5.5% | -0.2pts |
| FY2022 | 5.4% | 7.1% | -1.7pts |
| FY2023 | 5.2% | 7.9% | -2.7pts |
| FY2024 | 4.5% | 7.9% | -3.5pts |
| FY2025 | 5.7% | 7.5% | -1.8pts |
| Now | 4.5% | 8.5% | -3.9pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | not reported | 21.8% | 10.7% |
| FY2017 | not reported | 22.8% | 8.5% |
| FY2018 | not reported | 21.6% | 13.1% |
| FY2019 | not reported | 21.4% | 14.1% |
| FY2020 | not reported | 22.4% | 15.1% |
| FY2021 | not reported | 20.8% | 15.6% |
| FY2022 | not reported | 19.0% | 13.6% |
| FY2023 | not reported | 20.8% | 15.4% |
| FY2024 | not reported | 19.9% | 15.6% |
| FY2025 | not reported | 23.0% | 16.6% |
Leverage and buybacks account for 6 points of the 11% return on equity in FY2025. The business earns 5% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$411M of goodwill — 1% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
The spread was positive in only 0 of the last 5 years.
Free cash flow has fallen short of reported profit in 3 of the last three years.
Reported free cash flow is -$775M; after share-based compensation it is -$803M. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025. Free cash flow is negative, so projected resources fall rather than accumulate.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda.
No positive free cash flow to discount, so the price cannot be expressed as a growth requirement.
No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).
Missing from our data, so excluded from this answer: free_cash_flow.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1.46B | $1.46B |
| Share-based comp | $28M | $1.49B |
| Other non-cash & working capital | $1.86B | $3.35B |
| Operating cash flow | $3.35B | $3.35B |
| Capex | −$4.13B | −$775M |
| Free cash flow | −$775M | −$775M |
| FCF after SBC | −$803M | −$803M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -2.0% | 5.6% | 7.6 points |
| FY2021 | 10.4% | 4.6% | -5.8 points |
| FY2022 | 24.4% | 38.3% | 13.8 points |
| FY2023 | -5.7% | -17.7% | -11.9 points |
| FY2024 | 1.6% | 6.3% | 4.6 points |
| FY2025 | 15.4% | 26.7% | 11.2 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 24.3 days | not reported | not reported | not reported |
| FY2020 | 26.1 days | not reported | not reported | not reported |
| FY2021 | 24.8 days | not reported | not reported | not reported |
| FY2022 | 27.5 days | not reported | not reported | not reported |
| FY2023 | 24 days | not reported | not reported | not reported |
| FY2024 | 25.1 days | not reported | not reported | not reported |
| FY2025 | 27.6 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -4.6 percent |
| FY2020 | -2.6 percent |
| FY2021 | -1.9 percent |
| FY2022 | -3.1 percent |
| FY2023 | -3.5 percent |
| FY2024 | -3.5 percent |
| FY2025 | -3.9 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.