Latest revenue
$10.26B
as of 2026-03-31
Latest net income
—
as of 2026-03-31
Net margin
—
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $34.69B
- Enterprise value
- $45.89B
- P/E (trailing)
- 15.9×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 1.3%
- 52-wk high
- $189.96
- 52-wk low
- $121.22
- Beta
- —
- Shares out
- 252.0M
5-year trend
What this company does
NRG Energy is a US power company that generates electricity and sells it, along with natural gas and home services like smart-home security, to roughly 8 million residential and business customers, primarily in Texas and the Northeast. It earns most of its revenue selling retail energy and related services, supplemented by wholesale power generation, with nine-month 2025 revenue of $23 billion. The company is aggressively returning capital to shareholders, repurchasing nearly $1 billion in stock year-to-date while ramping capital expenditures to $849 million as it expands generation capacity to meet rising power demand.
Generated from NRG's filing dated 2026-02-24
Key risks
- Leverage rising: long-term debt grew to $11.16B from $9.81B while equity fell to $1.97B from $2.48B (9-month).
- Aggressive buybacks straining liquidity: $958M repurchases plus $292M capped-call settlement drove cash down to $732M from $966M.
- Capex surge: 9-month capex jumped to $849M from $286M, plus $591M acquisitions, pressuring free cash flow against $1.79B operating cash.
Generated from NRG's filing dated 2026-02-24
Profitability
Operating margin
6.0%
30.3%Net margin
8.1%
Return on assets
9.4%
Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $10.26B | +19.5% | — | — | — |
Q4 2025 2025-12-31 | $7.75B | +13.7% | — | — | — |
Q3 2025 2025-09-30 | $7.63B | +5.7% | — | — | — |
Q2 2025 2025-06-30 | $6.74B | +1.2% | — | — | — |
Q1 2025 2025-03-31 | $8.59B | +15.6% | — | — | — |
Q4 2024 2024-12-31 | $6.82B | — | — | — | — |
Q3 2024 2024-09-30 | $7.22B | -9.1% | — | — | — |
Q2 2024 2024-06-30 | $6.66B | +4.9% | — | — | — |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Electric Services · SIC 4911
Your notes
Keep private notes on NRG — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$0
Insider selling
$5.33B
Net activity
−$5.33B
Distinct insiders
8
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns NRG
Institutional value
$14.57B
Total shares held
102.1M
Distinct holders
688
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 18.0M | $2.63B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 13.8M | $2.02B | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 11.3M | $1.65B | — | New |
| 4 | FRANKLIN RESOURCES INC | 6.3M | $926.4M | — | New |
| 5 | Invesco Ltd. | 5.3M | $772.4M | — | New |
| 6 | JANE STREET GROUP, LLC | 2.8M | $413.4M | — | New |
| 7 | LYRICAL ASSET MANAGEMENT LP | 2.8M | $406.9M | — | New |
| 8 | Capital World Investors | 2.7M | $391.2M | — | New |
| 9 | Boston Partners | 2.2M | $329.1M | — | New |
| 10 | DIMENSIONAL FUND ADVISORS LP | 2.2M | $320.1M | — | New |
| 11 | UBS Group AG | 1.4M | $200.1M | — | New |
| 12 | Bank of New York Mellon Corp | 1.4M | $198.5M | — | New |
| 13 | VANGUARD FIDUCIARY TRUST CO | 1.2M | $178.7M | — | New |
| 14 | DEUTSCHE BANK AG\ | 1.2M | $170.4M | — | New |
| 15 | CITIGROUP INC | 983.6K | $143.7M | — | New |
| 16 | Nuveen, LLC | 973.7K | $142.3M | — | New |
| 17 | Legal & General Group Plc | 937.6K | $137.0M | — | New |
| 18 | Russell Investments Group, Ltd. | 861.5K | $125.8M | — | New |
| 19 | PRINCIPAL FINANCIAL GROUP INC | 737.5K | $107.8M | — | New |
| 20 | REAVES W H & CO INC | 734.3K | $107.3M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
PP&E jumped from $2.0B to $3.4B and capex tripled YoY to $849M—what's the expected ROIC and timing for these investments to generate earnings?
- 2
Long-term debt rose to $11.2B while you spent $958M on buybacks and $292M on capped calls; how do you justify leverage expansion at these prices?
- 3
Cost of operations fell $1B YoY in Q3 despite revenue growth—how much was hedge mark-to-market versus sustainable margin, and is this repeatable?
Refreshed when NRG files a new report · last from 2026-02-24