AEE FY 2025 Earnings Report — Ameren Corporation Revenue & Financial Results | Market Cap Arena

Ameren CorporationAEE

FY 2025 Earnings

Reported February 18, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$8.8B	—	$7.6B	—	15.4%
Op. Income	$2.0B	—	$1.5B	—	33.6%
Gross Margin	29.6%	—	47.9%	—	-18.3pp
Net Margin	16.5%	—	15.5%	—	1.0pp
EPS (Diluted)	$5.35	—	$4.42	—	21.0%
Free Cash Flow	-$775M	—	-$1.6B	—	52.9%

Revenue Flow

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$6.2B
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$577M
Operating Expenses	$577M
Cost & Expenses	$6.8B
OPERATING INCOME	$2.0B
Interest Income	$0
Interest Expense	$776M
Other Income/Expenses	-$429M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$136M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$1.7B
EBIT	$2.0B
EBITDA	$3.7B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$8.8B
Cost of Revenue	$6.2B
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$577M
Operating Expenses	$577M
Cost & Expenses	$6.8B
OPERATING INCOME	$2.0B
Interest Income	$0
Interest Expense	$776M
Other Income/Expenses	-$429M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$136M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$1.7B
EBIT	$2.0B
EBITDA	$3.7B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$1.5B
Depreciation & Amortization	$1.7B
Stock-Based Compensation	$28M
Deferred Income Tax	$253M
Other Non-Cash Items	-$1M
Change in Working Capital	-$51M
OPERATING CASH FLOW	$3.4B
Capital Expenditure	-$4.1B
Acquisitions (Net)	$0
Purchases of Investments	-$440M
Sales/Maturities of Investments	$0
Other Investing Activities	$423M
NET CASH FROM INVESTING	-$4.1B
Net Debt Issuance	$1.1B
Common Stock Repurchased	$0
Common Dividends Paid	-$768M
Other Financing Activities	-$18M
NET CASH FROM FINANCING	$884M
FREE CASH FLOW	-$775M
Net Change in Cash	$92M

Balance Sheet

Item	Amount
Cash & Equivalents	$13M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$774M
Other Current Assets	$597M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$39.3B
Goodwill	$411M
Intangible Assets	$0
Long-Term Investments	$1.5B
Tax Assets	$0
Other Non-Current Assets	$4.7B
TOTAL NON-CURRENT ASSETS	$45.9B
TOTAL ASSETS	$48.5B
Account Payables	$1.3B
Short-Term Debt	$1.6B
Deferred Revenue	$0
Other Current Liabilities	$1.0B
TOTAL CURRENT LIABILITIES	$3.9B
Long-Term Debt	$18.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5.2B
Other Non-Current Liabilities	$7.6B
TOTAL NON-CURRENT LIABILITIES	$31.0B
TOTAL LIABILITIES	$34.9B
Common Stock	$3M
Additional Paid-In Capital	$8.1B
Retained Earnings	$5.3B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.4B
Minority Interest	$129M
TOTAL EQUITY	$13.5B
TOTAL LIABILITIES & EQUITY	$48.5B
Total Debt	$19.8B
Net Debt	$19.8B