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FirstEnergy FE Regulatory assets

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Other financials

Income statement

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Revenue$3.7B+8.8%
Operating income$677.0M+4.8%
Net income$288.0M+7.5%
EPS (diluted)$0.50+8.7%

Balance sheet

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Cash & equivalents$63.0M-88.9%
Total debt$28.5B+17.9%
Total equity$12.9B+0.7%
Total assets$58.2B+7.4%

Cash flow

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Operating cash flow$989.0M-8.6%
CapEx$1.3B+10.4%
Free cash flow-$356.0M-162%

Valuation

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Market cap$27.47B+9.8%
Enterprise value$55.88B+15.0%
P/E24.2×+5.1×
P/S1.7×0.0×

Profitability

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Operating margin14.8%-4.7pp
Net margin7.2%-2.1pp
FCF margin-12.4%+42.5pp

Returns & leverage

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Return on equity8.8%-1.5pp
Debt / equity2.2×+0.3×
Current ratio0.5×-0.1×

Where this comes from

Reported directly by FirstEnergy in its filing.

Tagged under the XBRL concept us-gaap:RegulatoryAssetsNoncurrent.

The source filing: FirstEnergy’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 5:03 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001031296-26-000123
(In millions, except share amounts)June 30,2026December 31,2025
INVESTMENTS AND OTHER NONCURRENT ASSETS:
Goodwill5,6185,618
Investments635641
Regulatory assets1,357829
Other1,1191,424
8,7298,512
TOTAL ASSETS(1)$58,221$55,904
LIABILITIES AND EQUITY

ITEM 1. Financial Statements

FAQ

What is FirstEnergy's regulatory assets?
FirstEnergy (FE) reported regulatory assets of $1.36B in Q2 2026.
How has FirstEnergy's regulatory assets changed year-over-year?
FirstEnergy's regulatory assets increased by 77.4% year-over-year, from $765M to $1.36B.
What is the long-term trend for FirstEnergy's regulatory assets?
Over 5 years (2020 to 2025), FirstEnergy's regulatory assets has grown at a 58.8% compound annual growth rate (CAGR), from $82M to $829M.
What does regulatory assets mean?
These are costs incurred by the utility that regulators have authorized for future recovery through customer rates. They represent a unique asset class in regulated industries, reflecting the timing difference between incurring expenses and collecting them from ratepayers. This is a critical indicator of future cash flow recovery.

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