What is NRG Energy's free cash flow margin?

NRG Energy (NRG) reported free cash flow margin of 5.7% in Q3 2025.

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.

NRG Energy NRG Free cash flow margin

Free cash flow margin at other companies

AmazonAMZN

1.4%-1.8pp

CNP

CenterPoint EnergyCNP

-28.4%-1.6pp

VistraVST

9.3%-4.4pp

EntergyETR

-20.9%+3,135pp

CMS

CMS EnergyCMS

12.8%-8.1pp

Alphabet Inc.GOOGL

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Other financials

Income statement

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Revenue$10.3B+19.5%

Gross profit$1.4B-30.9%

Operating income$328.0M-71.1%

Net income$125.0M-83.3%

EPS (diluted)$0.52-85.6%

Balance sheet

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Cash & equivalents$178.0M-74.3%

Total debt$26.8B+122%

Total equity$4.9B+75.5%

Total assets$40.1B+60.3%

Cash flow

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Operating cash flow-$169.0M-120%

CapEx$317.0M+46.1%

Free cash flow-$486.0M-176%

Valuation

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Market cap$27.88B+59.6%

Enterprise value$54.52B+87.0%

P/E116.6×+104×

P/S0.9×+0.3×

Profitability

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Gross margin16.4%-5.0pp

Operating margin3.2%-6.0pp

Net margin0.7%-3.9pp

Returns & leverage

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Return on equity6.2%-38.7pp

Debt / equity5.5×+1.1×

Current ratio0.8×-0.2×

Where this comes from

Calculated from NRG Energy’s reported figures.

free cash flow/total revenue=5.7%

Based on trailing twelve months.

The official record: NRG Energy’s 10-Q, filed November 6, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is NRG Energy's free cash flow margin?: NRG Energy (NRG) reported free cash flow margin of 5.7% in Q3 2025.
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.