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NRG Energy NRG Q4 2025 Annual earnings

Reported February 24, 2026 · Before market open

Revenue$7.8BBeat by $1.1BDiluted EPS$1.03Beat by $0.06
Revenue estimate$6.7B
EPS estimate$0.97

Next report

Aug 4, 2026 (In 3 weeks)
Revenue estimate$7.5B
EPS estimate$1.76

Financials

Q4 2025

Income statement

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Revenue$7.8B+13.7%
Gross profit$1.4B-27.0%
Operating income$297.0M-68.9%
Net income$66.0M-89.7%
EPS (diluted)$0.29-90.2%

Balance sheet

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Cash & equivalents$4.7B+387%
Total debt$16.8B+39.1%
Total equity$1.7B-32.2%
Total assets$29.1B+21.3%

Cash flow

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Operating cash flow$123.0M-87.1%
CapEx$298.0M+60.2%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$30.52B+67.0%
Enterprise value$42.64B+45.0%
P/E35.3×+19.1×
P/S1×+0.3×

Profitability

See full
Gross margin19.4%-2.1pp
Operating margin6%-2.6pp
Net margin2.8%-1.2pp

Returns & leverage

See full
Return on equity41.5%-0.2pp
Debt / equity10×+5.1×
Current ratio1.6×+0.6×

Segments

By product

See full
Total operating revenue$7.8B+13.7%
Energy revenue$98.0M-10.9%
Capacity revenue$85.0M+93.2%
Other revenue$52.0M-36.6%

By segment

See full
East Segment$3.9B+28.0%
Texas Segment$2.5B+5.3%

Versus estimates

Revenue

Q1 2026$10.3BBeat by $1.9B
Q4 2025$7.8BBeat by $1.1B
Q3 2025$7.6BBeat by $172.7MQ2 2025$6.7BBeat by $287.7MQ1 2025$8.6BBeat by $663.2MQ4 2024$6.8BMiss by $996.0M

Diluted EPS

Q1 2026$1.48Miss by $0.30
Q4 2025$1.03Beat by $0.06
Q3 2025$2.75Beat by $0.61Q2 2025$1.68Miss by $0.06Q1 2025$2.62Beat by $0.87Q4 2024$1.52Beat by $0.48

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Questions, answered.

When did NRG Energy report Q4 2025 earnings?
NRG Energy (NRG) reported Q4 2025 earnings on February 24, 2026 before market open.
What were NRG Energy's Q4 2025 revenue and EPS?
NRG Energy reported revenue of $7.8B and diluted EPS of $1.03 for Q4 2025.
Did NRG Energy beat estimates in Q4 2025?
Revenue beat the consensus estimate of $6.7B by $1.1B. EPS beat the consensus estimate of $0.97 by $0.06.
How did NRG Energy's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.8% from $6.8B a year earlier and diluted EPS declined 32.2% from $1.52.
Where can I find NRG Energy's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001013871-26-000002) and the 10-K periodic report (0001013871-26-000004) directly on SEC EDGAR. The filing index links above go to sec.gov.