How do you interpret vertically integrated utilities — interest expense?

An increase signals higher leverage or rising interest rates, potentially pressuring net margins.

How does vertically integrated utilities — interest expense compare across companies?

Comparable to other regulated utilities with high capital intensity; benchmarked against industry average debt-to-equity ratios.

American Electric Power AEP Vertically Integrated Utilities — Interest Expense

Similar metrics at other companies

SOElectric Utilities — Interest expense(c)

$366M+7.0%

CNP

CNPElectric — Interest and Debt Expense

$75.75M+28.9%

DUKElectric Utilities and Infrastructure — Interest Expense

$535M+9.6%

CMS

CMSElectric Utility — Total interest charges

$83M+1.2%

CMS

CMSElectric Utility — Interest charges

$71.25M+30.7%

FEIntegrated — Interest Expense

$78M+20.0%

Other financials

Income statement

See full

Revenue$6.0B+10.2%

Gross profit$3.9B+8.1%

Operating income$1.4B+5.9%

Net income$903.0M+12.6%

EPS (diluted)$1.60+6.7%

Balance sheet

See full

Cash & equivalents$339.0M+16.1%

Total debt$49.7B—

Total equity$31.8B+16.2%

Total assets$117.78B—

Cash flow

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Operating cash flow$1.5B+4.8%

CapEx$965.0M—

Free cash flow$554.0M-61.8%

Valuation

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Market cap$69.48B+22.1%

Enterprise value$118.86B—

P/E21.9×+1.4×

P/S3.1×-0.1×

Profitability

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Operating margin19.2%-1.0pp

Net margin13.1%-1.5pp

FCF margin19.4%—

Returns & leverage

See full

Return on equity10.6%-0.6pp

Debt / equity1.6×—

Current ratio0.5×—

Where this comes from

Reported directly by American Electric Power in its filing.

Tagged under the XBRL concept us-gaap:InterestExpense.

The official record: American Electric Power’s 10-K, filed February 24, 2022, on SEC EDGAR. View the filing →

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Questions, answered.

What is American Electric Power's vertically integrated utilities — interest expense?: American Electric Power (AEP) reported vertically integrated utilities — interest expense of $143.55M in Q4 2021.
What does vertically integrated utilities — interest expense mean?: The total interest costs incurred to finance the debt of the utility segment.
How do you interpret vertically integrated utilities — interest expense?: An increase signals higher leverage or rising interest rates, potentially pressuring net margins.
How does vertically integrated utilities — interest expense compare across companies?: Comparable to other regulated utilities with high capital intensity; benchmarked against industry average debt-to-equity ratios.