What is NRG Energy's free cash flow?

NRG Energy (NRG) reported free cash flow of -$486M in Q1 2026.

How has NRG Energy's free cash flow changed year-over-year?

NRG Energy's free cash flow decreased by 176.2% year-over-year, from $638M to -$486M.

What does free cash flow mean?

Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.

NRG Energy NRG Free cash flow

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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%

Valuation

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Market cap$30.82B-8.7%

Enterprise value$57.46B+26.8%

P/E128.9×+64.3×

P/S1×-0.2×

Profitability

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Gross margin16.4%-5.0pp

Operating margin3.2%-6.0pp

Net margin0.7%-3.9pp

FCF margin5.7%—

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.

−$169.0Mnet cash from operating−$317.0Mcapital expenditures=-$486M

The official record: NRG Energy’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NRG Energy's free cash flow?: NRG Energy (NRG) reported free cash flow of -$486M in Q1 2026.
How has NRG Energy's free cash flow changed year-over-year?: NRG Energy's free cash flow decreased by 176.2% year-over-year, from $638M to -$486M.
What does free cash flow mean?: Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.