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Consolidated Edison combines regulated, rate-based earnings with moderate revenue growth and relatively stable operating economics. Its recurring utility infrastructure spending absorbs much of operating cash flow, making debt and equity issuance an ordinary part of funding.
The latest results reinforce the established utility pattern: quarterly free cash flow was positive, but TTM free cash flow remained negative as operating cash flow lagged recurring capital spending. This is a meaningful cash-conversion development, but not yet an earnings-model inflection because rate-base growth and regulated cost recovery continued to support operating results.
Whether TTM operating cash flow recovers above the recurring capital-spending base without heavier external issuance.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 12.1B | 12B | 12.3B | 12.6B | 12.2B | 13.7B | 15.7B | 14.7B | 15.3B | 16.9B | |
| (2.9B) | (2.4B) | (2.7B) | (2.4B) | (2.1B) | (2.5B) | (3.7B) | (3.4B) | (3.2B) | (3.8B) | |
| 9.2B | 9.6B | 9.7B | 10.1B | 10.1B | 11.2B | 11.9B | 11.3B | 12.1B | 13.1B | |
| (6.5B) | (6.9B) | (7.1B) | (7.5B) | (7.5B) | (8.3B) | (9.3B) | (9B) | (9.4B) | (10.1B) | |
| (1.2B) | (1.3B) | (1.4B) | (1.7B) | (1.9B) | (2B) | (2.1B) | (2B) | (2.2B) | (2.3B) | |
| (3.1B) | (3.1B) | (3.2B) | (3.2B) | (2.8B) | (3.3B) | (3.9B) | (3.6B) | (3.8B) | (3.8B) | |
| (172m) | (216m) | (263m) | (207m) | (156m) | (229m) | (356m) | (282m) | (170m) | (261m) | |
| (2B) | (2.2B) | (2.3B) | (2.4B) | (2.6B) | (2.8B) | (3B) | (3B) | (3.3B) | (3.8B) | |
| 2.7B | 2.8B | 2.5B | 2.7B | 2.7B | 2.8B | 2.6B | 2.3B | 2.7B | 2.9B | |
| (597m) | (607m) | (651m) | (779m) | (795m) | (891m) | (931m) | (848m) | (959m) | (1.1B) | |
| 672m | 718m | 770m | 875m | 901m | 919m | 951m | 910m | 1B | 1.1B | |
| 104m | 1m | 131m | 0 | (320m) | (448m) | — | 865m | (62m) | — | |
| — | — | — | — | — | — | — | — | — | 4m | |
| (240m) | (170m) | (230m) | (161m) | (305m) | (104m) | 405m | 655m | 427m | 713m | |
| 1.9B | 2B | 1.8B | 1.7B | 1.2B | 1.4B | 2.1B | 3B | 2.1B | 2.6B | |
| (698m) | (731m) | (359m) | (296m) | (90m) | (190m) | (498m) | (487m) | (318m) | (574m) | |
| 1.2B | 1.3B | 1.4B | 1.4B | 1.1B | 1.2B | 1.6B | 2.5B | 1.8B | 2B | |
| — | — | — | (97m) | (43m) | 153m | 60m | 3m | — | — | |
| 1.2B | 1.5B | 1.4B | 1.3B | 1.1B | 1.3B | 1.7B | 2.5B | 1.8B | 2B | |
| 4.12 | 4.93 | 4.41 | 4.08 | 3.28 | 3.85 | 4.67 | 7.21 | 5.24 | 5.64 |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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