Ameren Corp (AEE) financial statements: income statement, balance sheet and cash flow

Ameren Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Ameren Corp reported revenue of $8.8B (+15.4% year on year) and net income of $1.5B (+25.6% year on year).

Income statement

Ameren Corp income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Operating revenues	$8.8B	$7.6B	$7.5B	$8.0B
Utilities Operating Expense, Fuel Used and Purchased Power	$2.3B	$1.7B	—	—
Purchased power	$781.0M	$621.0M	$1.3B	$1.5B
Natural gas purchased for resale	$348.0M	$320.0M	$355.0M	$657.0M
Other operations and maintenance	$2.0B	$2.0B	$1.9B	$1.9B
Depreciation and amortization	$1.6B	$1.6B	$1.4B	$1.3B
Taxes other than income taxes	$577.0M	$547.0M	$522.0M	$539.0M
Total operating expenses	$6.8B	$6.1B	$5.9B	$6.4B
Operating Income	$2.0B	$1.5B	$1.6B	$1.5B
Other Income, Net	$347.0M	$417.0M	$348.0M	$226.0M
Interest Charges	$776.0M	$663.0M	$566.0M	$486.0M
Income Before Income Taxes	$1.6B	$1.3B	$1.3B	$1.3B
Income Taxes	$136.0M	$83.0M	$183.0M	$176.0M
Net Income	$1.5B	$1.2B	$1.2B	$1.1B
Net Income	$1.5B	$1.2B	$1.2B	$1.1B
Less: Net Income Attributable to Noncontrolling Interests	$5.0M	$5.0M	$5.0M	$5.0M
Net Income Attributable to Ameren Common Shareholders	$1.5B	$1.2B	$1.2B	$1.1B
Pension and other postretirement benefit plan activity, net of income taxes (benefit) of $1, $—, and $(2), respectively	$3.0M	($3.0M)	($5.0M)	($14.0M)
Unrealized net gain on derivative hedging instruments, net of income taxes of $2, $—, and $—, respectively	$3.0M	$3.0M	—	—
Comprehensive Income	$1.5B	$1.2B	$1.2B	$1.1B
Less: Comprehensive Income Attributable to Noncontrolling Interests	$5.0M	$5.0M	$5.0M	$5.0M
Comprehensive Income Attributable to Ameren Common Shareholders	$1.5B	$1.2B	$1.1B	$1.1B
Preferred Stock Dividends	$5.0M	$5.0M	$5.0M	$5.0M
Earnings per Common Share – Basic	$5.38	$4.43	$4.39	$4.16
Earnings per Common Share – Diluted	$5.35	$4.42	$4.38	$4.14
Weighted-average Common Shares Outstanding – Basic	270.5M	266.8M	262.8M	258.4M
Weighted-average Common Shares Outstanding – Diluted	272.2M	267.4M	263.4M	259.5M

Ameren Corp income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Operating Revenues	$2.1B	$2.2B	$2.7B	$2.2B
Fuel and purchased power	$507.0M	$433.0M	$768.0M	$794.0M
Purchased Power	$193.0M	$222.0M	$284.0M	$183.0M
Natural gas purchased for resale	$39.0M	$171.0M	$25.0M	$39.0M
Other operations and maintenance	$521.0M	$491.0M	$502.0M	$460.0M
Depreciation and amortization	$420.0M	$398.0M	$415.0M	$386.0M
Taxes other than income taxes	$146.0M	$151.0M	$164.0M	$131.0M
Total operating expenses	$1.6B	$1.6B	$1.9B	$1.8B
Operating Income	$459.0M	$532.0M	$825.0M	$411.0M
Other Income, Net	$118.0M	$90.0M	$76.0M	$96.0M
Interest Charges	$209.0M	$204.0M	$208.0M	$187.0M
Income Before Income Taxes	$368.0M	$418.0M	$693.0M	$320.0M
Income Taxes	$52.0M	$60.0M	$52.0M	$43.0M
Net Income	$316.0M	$358.0M	$641.0M	$277.0M
Less: Net Income Attributable to Noncontrolling Interests	$2.0M	$1.0M	$1.0M	$2.0M
Preferred Stock Dividends	$2.0M	$1.0M	$1.0M	$2.0M
Net income attributable to Ameren common shareholders	$314.0M	$357.0M	$640.0M	$275.0M
Pension and other postretirement benefit plan activity, net of income taxes (benefit)	($1.0M)	$0	$0	($2.0M)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	$6.0M	($2.0M)	$0	($2.0M)
Comprehensive Income	$321.0M	$356.0M	$641.0M	$273.0M
Less: Comprehensive Income Attributable to Noncontrolling Interests	$2.0M	$1.0M	$1.0M	$2.0M
Comprehensive Income Attributable to Ameren Common Shareholders	$319.0M	$355.0M	$640.0M	$271.0M
Earnings per Common Share - Basic	$1.14	$1.29	$2.37	$1.02
Earnings per Common Share - Basic	$1.13	$1.28	$2.35	$1.01
Weighted-average Common Shares Outstanding – Basic	276.8M	276.5M	270.4M	270.3M
Weighted-average Common Shares Outstanding – Diluted	278.7M	278.4M	272.2M	271.6M

Balance sheet

Ameren Corp balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$13.0M	$7.0M	$25.0M	$10.0M
Accounts receivable - trade (less allowance for doubtful accounts)	$665.0M	$525.0M	$494.0M	$600.0M
Unbilled revenue	$415.0M	$346.0M	$319.0M	$446.0M
Miscellaneous accounts receivable	$107.0M	—	$106.0M	$54.0M
Inventories	$774.0M	$762.0M	$733.0M	$667.0M
Current regulatory assets	$387.0M	$366.0M	$365.0M	$354.0M
Other current assets	$210.0M	$162.0M	$125.0M	$155.0M
Total current assets	$2.6B	$2.3B	$2.2B	$2.7B
Property, Plant, and Equipment, Net	$39.3B	$36.3B	$33.8B	$31.3B
Nuclear decommissioning trust fund	$1.5B	$1.3B	$1.1B	$958.0M
Goodwill	$411.0M	$411.0M	$411.0M	$411.0M
Regulatory Asset, Noncurrent	$2.5B	$2.4B	$1.8B	$1.4B
Pension and other postretirement benefits	$977.0M	$757.0M	$581.0M	$411.0M
Other assets	$1.2B	$1.1B	$921.0M	$768.0M
Total investments and other assets	$6.6B	$6.0B	$4.9B	$4.0B
TOTAL ASSETS	$48.5B	$44.6B	$40.8B	$37.9B
Long-Term Debt, Current Maturities	$973.0M	$317.0M	$849.0M	$340.0M
Short-term debt	$643.0M	$1.1B	$536.0M	$1.1B
Accounts and wages payable	$1.3B	$1.1B	$1.1B	$1.2B
Interest accrued	$229.0M	$196.0M	—	—
Customer deposits	$238.0M	$223.0M	$176.0M	—
Other current liabilities	$570.0M	$475.0M	$648.0M	$797.0M
Total current liabilities	$3.9B	$3.4B	$3.3B	$3.4B
Long-Term Debt, Excluding Current Maturities	$18.2B	$17.3B	$15.1B	$13.7B
Accumulated deferred income taxes and production and investment tax credits, net	$5.2B	$4.5B	$4.2B	$3.8B
Regulatory liabilities	$6.3B	$5.9B	$5.5B	$5.3B
Asset retirement obligations	$849.0M	$822.0M	$772.0M	$763.0M
Other deferred credits and liabilities	$540.0M	$487.0M	$426.0M	$340.0M
Total deferred credits and other liabilities	$12.8B	$11.7B	$10.9B	$10.2B
Common stock	$3.0M	$3.0M	$3.0M	$3.0M
Other paid-in capital, principally premium on common stock	$8.1B	$7.5B	$7.2B	$6.9B
Retained earnings	$5.3B	$4.6B	$4.1B	$3.6B
Accumulated other comprehensive loss	$0	($6.0M)	($6.0M)	($1.0M)
Total shareholders' equity	$13.4B	$12.1B	$11.3B	$10.5B
Noncontrolling Interests	$129.0M	$129.0M	$129.0M	$129.0M
Total equity	$13.5B	$12.2B	$11.5B	$10.6B
TOTAL LIABILITIES AND EQUITY	$48.5B	$44.6B	$40.8B	$37.9B

Ameren Corp balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$12.0M	$13.0M	$9.0M	$11.0M
Advances to money pool	$116.0M	—	$51.0M	$0
Accounts receivable - trade (less allowance for doubtful accounts)	$600.0M	$703.0M	$794.0M	$567.0M
Unbilled revenue	$478.0M	$298.0M	$413.0M	$467.0M
Miscellaneous accounts receivable	$199.0M	$175.0M	$78.0M	$101.0M
Inventories	$800.0M	$733.0M	$804.0M	$738.0M
Prepaid assets	$56.0M	$60.0M	$65.0M	$52.0M
Current regulatory assets	$337.0M	$434.0M	$260.0M	$332.0M
Other current assets	$218.0M	$211.0M	$252.0M	$258.0M
Total current assets	$2.6B	$2.6B	$2.6B	$2.5B
Property, Plant, and Equipment, Net	$41.4B	$40.5B	$38.4B	$37.8B
Nuclear decommissioning trust fund	$1.6B	$1.5B	$1.5B	$1.4B
Goodwill	$411.0M	$411.0M	$411.0M	$411.0M
Regulatory Asset	$2.9B	$2.7B	$2.6B	$2.7B
Pension and other postretirement benefits	$973.0M	$991.0M	$741.0M	$734.0M
Other assets	$1.3B	$1.3B	$1.1B	$1.1B
Total investments and other assets	$7.2B	$6.8B	$6.4B	$6.3B
TOTAL ASSETS	$51.2B	$49.8B	$47.4B	$46.6B
Current maturities of long-term debt	$1.5B	$1.1B	$29.0M	$29.0M
Short-term debt	$1.2B	$1.2B	$903.0M	$1.1B
Borrowings from money pool	$116.0M	—	$51.0M	$0
Accounts and wages payable	$998.0M	$733.0M	$762.0M	$882.0M
Taxes accrued	$149.0M	$82.0M	$215.0M	$155.0M
Interest accrued	$246.0M	$179.0M	$183.0M	$230.0M
Customer deposits	$248.0M	$239.0M	$248.0M	$240.0M
Current regulatory liabilities	$60.0M	$80.0M	$142.0M	$76.0M
Retainage payable	$114.0M	$118.0M	—	—
Other current liabilities	$742.0M	$674.0M	$323.0M	$410.0M
Total current liabilities	$5.0B	$4.1B	$2.8B	$3.1B
Long-term debt, net	$19.1B	$19.0B	$19.2B	$18.8B
Accumulated deferred income taxes and tax credits, net	$5.4B	$5.3B	$5.1B	$4.9B
Regulatory liabilities	$6.4B	$6.3B	$6.1B	$6.0B
Asset retirement obligations	$873.0M	$864.0M	$844.0M	$838.0M
Other deferred credits and liabilities	$667.0M	$606.0M	$516.0M	$551.0M
Total deferred credits and other liabilities	$13.4B	$13.0B	$12.5B	$12.3B
Common Stock	$3.0M	$3.0M	$3.0M	$3.0M
Other paid-in capital, principally premium on common stock	$8.1B	$8.1B	$7.6B	$7.5B
Preferred stock	$129.0M	$129.0M	$129.0M	$129.0M
Retained earnings	$5.5B	$5.4B	$5.2B	$4.8B
Accumulated other comprehensive income	$3.0M	($2.0M)	($14.0M)	($14.0M)
Total shareholders’ equity	$13.7B	$13.6B	$12.8B	$12.3B
Noncontrolling Interests	$129.0M	$129.0M	$129.0M	$129.0M
Total equity	$13.8B	$13.7B	$12.9B	$12.4B
TOTAL LIABILITIES AND EQUITY	$51.2B	$49.8B	$47.4B	$46.6B

Cash flow statement

Ameren Corp cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$1.5B	$1.2B	$1.2B	$1.1B
Net Income Attributable to Ameren Common Shareholders	$1.5B	$1.2B	—	—
Depreciation and amortization	$1.6B	$1.5B	$1.4B	$1.4B
Amortization of nuclear fuel	$56.0M	$81.0M	$68.0M	—
Amortization of debt issuance costs and premium/discounts	$19.0M	$19.0M	$16.0M	$21.0M
Deferred income taxes and production and investment tax credits, net	$253.0M	$127.0M	$229.0M	$170.0M
Allowance for equity funds used during construction	$88.0M	$76.0M	($54.0M)	($43.0M)
Stock-based compensation costs	$28.0M	$28.0M	$26.0M	$24.0M
Other	$63.0M	$87.0M	$16.0M	$68.0M
Receivables	($272.0M)	($91.0M)	$144.0M	($317.0M)
Inventories	($12.0M)	($31.0M)	($67.0M)	($77.0M)
Accounts and wages payable	$42.0M	$4.0M	($104.0M)	$136.0M
Taxes accrued	$190.0M	$34.0M	($4.0M)	($13.0M)
Regulatory assets and liabilities	$65.0M	$99.0M	($165.0M)	($72.0M)
Assets, other	($36.0M)	($34.0M)	($109.0M)	($74.0M)
Liabilities, other	$104.0M	$22.0M	$115.0M	$52.0M
Pension and other postretirement benefits	($152.0M)	($216.0M)	($283.0M)	($65.0M)
Counterparty collateral, net	$20.0M	($1.0M)	$147.0M	($64.0M)
Net cash provided by operating activities	$3.4B	$2.8B	$2.6B	$2.3B
Capital expenditures	($4.1B)	($4.3B)	($3.6B)	($3.4B)
Nuclear fuel expenditures	($46.0M)	($91.0M)	($174.0M)	($29.0M)
Purchases of securities – nuclear decommissioning trust fund	($440.0M)	($584.0M)	($266.0M)	($229.0M)
Proceeds from sales and maturities	$416.0M	$564.0M	$240.0M	$216.0M
Money pool advances, net	$43.0M	—	$0	$0
Money pool advances, net	$74.0M	($43.0M)	—	—
Other	$53.0M	($26.0M)	($1.0M)	$23.0M
Net cash used in investing activities	($4.1B)	($4.5B)	($3.8B)	($3.4B)
Dividends on common stock	($768.0M)	($714.0M)	($662.0M)	($610.0M)
Dividends on preferred stock	($5.0M)	($5.0M)	($5.0M)	($5.0M)
Dividends paid to noncontrolling interest holders	($5.0M)	($5.0M)	($5.0M)	($5.0M)
Short-term debt, net	($499.0M)	$607.0M	($533.0M)	$522.0M
Money pool borrowings, net	($37.0M)	($404.0M)	$441.0M	$0
Maturities and extinguishment of long-term debt	($341.0M)	($893.0M)	($100.0M)	($505.0M)
Issuances of long-term debt	$2.0B	$2.5B	$2.3B	$1.5B
Issuances of common stock	$574.0M	$273.0M	$346.0M	$333.0M
Employee payroll taxes related to stock-based compensation	($13.0M)	($8.0M)	($20.0M)	($16.0M)
Debt issuance costs	($24.0M)	($31.0M)	($21.0M)	($18.0M)
Capital contribution from parent	$30.0M	$512.0M	$91.0M	$15.0M
Other	$0	($15.0M)	($10.0M)	$0
Net cash provided by financing activities	$884.0M	$1.7B	$1.3B	$1.2B
Net change in cash, cash equivalents, and restricted cash	$92.0M	$56.0M	$56.0M	$61.0M
Cash, cash equivalents, and restricted cash at beginning of year	$328.0M	$272.0M	$216.0M	$155.0M
Interest (net of amounts capitalized, respectively)	$755.0M	$611.0M	$546.0M	$476.0M
Income Taxes Paid, Net	($312.0M)	($92.0M)	($24.0M)	($8.0M)

Ameren Corp cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$674.0M	$358.0M	$1.2B	$567.0M
Depreciation and amortization	$841.0M	$417.0M	$1.2B	$793.0M
Amortization of nuclear fuel	$43.0M	$21.0M	$39.0M	$20.0M
Amortization of debt issuance costs and premium/discounts	$10.0M	$5.0M	$14.0M	$10.0M
Deferred income taxes and tax credits, net	$127.0M	$56.0M	$255.0M	$172.0M
Allowance for equity funds used during construction	($69.0M)	($31.0M)	($60.0M)	($39.0M)
Stock-based compensation costs	$16.0M	$8.0M	$21.0M	$14.0M
Other	($13.0M)	$9.0M	$29.0M	$10.0M
Receivables	($73.0M)	$41.0M	($356.0M)	($189.0M)
Inventories	($24.0M)	$41.0M	($41.0M)	$24.0M
Accounts and wages payable	($225.0M)	($308.0M)	($244.0M)	($173.0M)
Taxes accrued	$123.0M	$75.0M	$307.0M	$278.0M
Regulatory assets and liabilities	($337.0M)	($205.0M)	$97.0M	($153.0M)
Assets, other	($2.0M)	($3.0M)	($29.0M)	($66.0M)
Liabilities, other	$149.0M	($30.0M)	$72.0M	$101.0M
Pension and other postretirement benefits	($49.0M)	($33.0M)	($114.0M)	($76.0M)
Net cash provided by operating activities	$1.2B	$421.0M	$2.4B	$1.3B
Capital expenditures	($2.7B)	($1.6B)	($3.1B)	($2.1B)
Nuclear fuel expenditures	($23.0M)	($22.0M)	($20.0M)	($19.0M)
Purchases of securities – nuclear decommissioning trust fund	($168.0M)	($87.0M)	($373.0M)	($244.0M)
Sales and maturities of securities – nuclear decommissioning trust fund	$158.0M	$76.0M	$348.0M	$223.0M
Money pool advances, net	($116.0M)	$0	$43.0M	$0
Other	($20.0M)	($7.0M)	$51.0M	$59.0M
Net cash used in investing activities	($2.7B)	($1.6B)	($3.1B)	($2.1B)
Dividends on common stock	($414.0M)	($208.0M)	($576.0M)	($384.0M)
Dividends paid to noncontrolling interest holders	($3.0M)	($1.0M)	($4.0M)	($3.0M)
Dividends on preferred stock	($3.0M)	($1.0M)	($4.0M)	($3.0M)
Short-term debt, net	$577.0M	$534.0M	($239.0M)	($2.0M)
Money pool borrowings, net	$116.0M	$130.0M	$14.0M	($37.0M)
Maturities and extinguishment of long-term debt	($378.0M)	($350.0M)	($324.0M)	($324.0M)
Issuances of long-term debt	$1.8B	$1.3B	$2.0B	$1.6B
Capital contributions from parent	$425.0M	$350.0M	$0	$0
Issuances of common stock	$22.0M	$12.0M	$35.0M	$25.0M
Employee payroll taxes related to stock-based compensation	($14.0M)	($14.0M)	($13.0M)	($13.0M)
Debt issuance costs	($19.0M)	($12.0M)	($17.0M)	($14.0M)
Net cash provided by financing activities	$1.6B	$1.3B	$822.0M	$884.0M
Net change in cash, cash equivalents, and restricted cash	$50.0M	$65.0M	$107.0M	$66.0M
Cash, cash equivalents, and restricted cash at beginning of year	$420.0M	$420.0M	$328.0M	$328.0M
Cash, cash equivalents, and restricted cash at end of period	$470.0M	$485.0M	$435.0M	$394.0M

Ameren Corp score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.