What is FirstEnergy's free cash flow margin?

FirstEnergy (FE) reported free cash flow margin of -11.2% in Q1 2026.

What does free cash flow margin mean?

How much real, spendable cash each sales dollar generates after reinvestment.

How do you interpret free cash flow margin?

A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.

How does free cash flow margin compare across companies?

Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.

FirstEnergy FE Free cash flow margin

Free cash flow margin at other companies

Public Service Enterprise GroupPEG

-6.4%—

PPLPPL

-17.4%—

ExelonEXC

-9.4%+8.8pp

CNP

CenterPoint EnergyCNP

-28.4%-1.6pp

Eversource EnergyES

1.7%+0.9pp

PG&EPCG

-16.3%—

Other financials

Income statement

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Revenue$4.2B+11.6%

Operating income$828.0M+9.8%

Net income$405.0M+12.5%

EPS (diluted)$0.70+12.9%

Balance sheet

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Cash & equivalents$52.0M-60.6%

Total debt$27.6B+20.9%

Total equity$12.7B+0.7%

Total assets$56.9B+7.9%

Cash flow

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Operating cash flow$148.0M-76.8%

CapEx$1.3B+24.9%

Free cash flow-$1.1B-201%

Valuation

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Market cap$26.69B+25.6%

Enterprise value$54.27B+23.5%

P/E24×+4.4×

P/S1.7×+0.2×

Profitability

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Operating margin14.8%-3.2pp

Net margin7.2%-0.6pp

Returns & leverage

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Return on equity8.8%+0.1pp

Debt / equity2.2×+0.4×

Current ratio0.5×+0.1×

Where this comes from

Calculated from FirstEnergy’s reported figures.

free cash flow/total revenue=-11.2%

Based on trailing twelve months.

The official record: FirstEnergy’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is FirstEnergy's free cash flow margin?: FirstEnergy (FE) reported free cash flow margin of -11.2% in Q1 2026.
What does free cash flow margin mean?: How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?: A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?: Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.