NRG Energy Inc'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), NRG Energy Inc reported revenue of $30.7B (+9.2% year on year) and net income of $864.0M (-23.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $30.7B | $28.1B | $28.8B | $31.5B |
| Cost of operations (excluding depreciation and amortization shown below) | $24.8B | $22.1B | $26.5B | $27.4B |
| Depreciation and amortization | $1.4B | $1.4B | $1.1B | $634.0M |
| Impairment losses | $0 | $36.0M | $26.0M | $206.0M |
| Selling, general and administrative costs (excluding amortization of customer acquisition costs of $295, $204 and $125, respectively, which are included in depreciation and amortization shown separately above) | $2.6B | $2.0B | $2.0B | $1.2B |
| Acquisition-related transaction and integration costs | $74.0M | $30.0M | $119.0M | $52.0M |
| Total operating costs and expenses | $28.8B | $25.9B | $30.0B | $29.6B |
| (Loss)/Gain on sale of assets | ($25.0M) | $208.0M | $1.6B | $52.0M |
| Operating Income | $1.8B | $2.4B | $384.0M | $2.0B |
| Equity in earnings of unconsolidated affiliates | $11.0M | $20.0M | $16.0M | $6.0M |
| Impairment losses on investments | ($39.0M) | ($7.0M) | ($102.0M) | $0 |
| Other income, net | $68.0M | $44.0M | $47.0M | $56.0M |
| (Loss)/Gain on debt extinguishment | ($10.0M) | ($382.0M) | $109.0M | $0 |
| Interest expense | ($741.0M) | ($651.0M) | ($667.0M) | ($417.0M) |
| Total other expense | ($711.0M) | ($976.0M) | ($597.0M) | ($355.0M) |
| Income/(Loss) Before Income Taxes | $1.1B | $1.4B | ($213.0M) | $1.7B |
| Income tax expense/(benefit) | $270.0M | $323.0M | ($11.0M) | $442.0M |
| Net Income/(Loss) | $864.0M | $1.1B | ($202.0M) | $1.2B |
| Less: Cumulative dividends attributable to Series A Preferred Stock | $67.0M | $67.0M | $54.0M | — |
| Net Income/(Loss) Available for Common Stockholders | $797.0M | $1.1B | ($256.0M) | — |
| Weighted average number of common shares outstanding — basic (in shares) | 195.0M | 206.0M | 228.0M | 236.0M |
| Weighted average number of common shares outstanding — diluted (in shares) | 199.0M | 212.0M | 228.0M | 236.0M |
| Income/(Loss) per Weighted Average Common Share - Basic (in usd per share) | $4.09 | $5.14 | -$1.12 | $5.17 |
| Income/(Loss) per weighted average common share — diluted (in usd per share) | $4.01 | $4.99 | -$1.12 | $5.17 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $7.5B | $10.3B | $7.6B | $6.7B |
| Cost of operations (excluding depreciation and amortization shown below) | $5.5B | $8.9B | $6.2B | $5.6B |
| Depreciation and amortization | $494.0M | $432.0M | $360.0M | $344.0M |
| Selling, general and administrative costs (excluding amortization of customer acquisition costs of $93, $68, $180, and $133 respectively, which are included in depreciation and amortization shown separately above) | $562.0M | $593.0M | $612.0M | $724.0M |
| Acquisition-related transaction and integration costs | $16.0M | $45.0M | $8.0M | $43.0M |
| Total operating costs and expenses | $6.5B | $9.9B | $7.2B | $6.7B |
| Gain/(Loss) on sale of assets | $37.0M | $0 | $0 | $0 |
| Operating Income | $976.0M | $328.0M | $414.0M | $0 |
| Other income, net | $6.0M | $40.0M | $10.0M | $4.0M |
| Loss on debt extinguishment | ($9.0M) | — | $0 | ($10.0M) |
| Interest expense | ($310.0M) | ($285.0M) | ($187.0M) | ($148.0M) |
| Total other expense | ($313.0M) | ($245.0M) | ($176.0M) | ($153.0M) |
| Income/(Loss) Before Income Taxes | $663.0M | $83.0M | $238.0M | ($153.0M) |
| Income tax expense/(benefit) | $157.0M | ($42.0M) | $86.0M | ($49.0M) |
| Net Income/(Loss) | $506.0M | $125.0M | $152.0M | ($104.0M) |
| Less: Cumulative dividends attributable to Series A Preferred Stock | $17.0M | $17.0M | $17.0M | $17.0M |
| Net Income/(Loss) Available for Common Stockholders | $489.0M | $108.0M | $135.0M | ($121.0M) |
| Weighted average number of common shares outstanding — basic (in shares) | 211.0M | 207.0M | 193.0M | 196.0M |
| Income per Weighted Average Common Share — Basic (in usd per share) | $2.32 | $0.52 | $0.70 | -$0.62 |
| Weighted average number of common shares outstanding — diluted (in shares) | 212.0M | 208.0M | 195.0M | 196.0M |
| Income per Weighted Average Common Share — Diluted (in usd per share) | $2.31 | $0.52 | $0.69 | -$0.62 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $4.7B | $966.0M | $541.0M | $430.0M |
| Funds deposited by counterparties | $260.0M | $199.0M | $84.0M | $1.7B |
| Restricted cash | $30.0M | $8.0M | $24.0M | $40.0M |
| Accounts receivable, net | $4.1B | $3.5B | $3.5B | $4.8B |
| Inventory | $461.0M | $478.0M | $607.0M | $751.0M |
| Derivative instruments | $2.2B | $2.7B | $3.9B | $7.9B |
| Cash collateral paid in support of energy risk management activities | $365.0M | $309.0M | $441.0M | $260.0M |
| Prepayments and other current assets | $1.1B | $830.0M | $626.0M | $383.0M |
| Total current assets | $13.1B | $9.0B | $9.7B | $16.2B |
| Property, plant and equipment, net | $3.6B | $2.0B | $1.8B | $1.7B |
| Equity investments in affiliates | $16.0M | $45.0M | $42.0M | $133.0M |
| Operating lease right-of-use assets, net | $130.0M | $151.0M | $179.0M | $225.0M |
| Goodwill | $5.0B | $5.0B | $5.1B | $1.6B |
| Intangible assets, net | $2.3B | $2.9B | $3.9B | $2.1B |
| Derivative instruments | $1.6B | $1.7B | $2.3B | $4.1B |
| Deferred income taxes | $1.8B | $2.1B | $2.3B | $1.9B |
| Other non-current assets | $1.5B | $1.1B | $777.0M | $256.0M |
| Total other assets | $12.4B | $13.0B | $14.5B | $11.2B |
| Total Assets | $29.1B | $24.0B | $26.0B | $29.1B |
| Current portion of long-term debt and finance leases | $31.0M | $996.0M | $620.0M | $63.0M |
| Current portion of operating lease liabilities | $35.0M | $66.0M | $90.0M | $83.0M |
| Accounts payable | $2.8B | $2.5B | $2.3B | $3.6B |
| Derivative instruments | $2.3B | $2.3B | $4.0B | $6.2B |
| Cash collateral received in support of energy risk management activities | $260.0M | $199.0M | $84.0M | $1.7B |
| Deferred revenue current | $748.0M | $711.0M | $720.0M | — |
| Accrued expenses and other current liabilities | $1.9B | $2.0B | $1.6B | $1.3B |
| Total current liabilities | $8.0B | $8.8B | $9.5B | $13.0B |
| Long-term debt and finance leases | $16.4B | $9.8B | $10.1B | $8.0B |
| Non-current operating lease liabilities | $144.0M | $117.0M | $128.0M | $180.0M |
| Derivative instruments | $1.1B | $1.1B | $1.5B | $2.2B |
| Deferred income taxes | $15.0M | $12.0M | $22.0M | $134.0M |
| Deferred revenue non-current | $895.0M | $862.0M | $914.0M | — |
| Other non-current liabilities | $861.0M | $821.0M | $947.0M | $983.0M |
| Total other liabilities | $19.4B | $12.7B | $13.6B | $12.3B |
| Total Liabilities | $27.5B | $21.5B | $23.1B | $25.3B |
| Preferred stock; 10,000,000 shares authorized; 650,000 Series A shares issued and outstanding at December 31, 2025 and 2024 (aggregate liquidation preference $650) | 650.0M | 650.0M | 650.0M | — |
| Common stock; $0.01 par value; 500,000,000 shares authorized; 199,828,615 and 205,064,058 shares issued; and 190,376,607 and 198,604,003 shares outstanding at December 31, 2025 and 2024, respectively | 2.0M | 2.0M | 3.0M | 4.0M |
| Additional paid-in capital | $215.0M | $705.0M | $3.4B | $8.5B |
| Retained earnings | $2.0B | $1.5B | $820.0M | $1.4B |
| Treasury stock, at cost; 9,452,008 and 6,460,055 shares at December 31, 2025 and 2024, respectively | -1.1B | -297.0M | -1.9B | -5.9B |
| Accumulated other comprehensive loss | ($81.0M) | ($117.0M) | ($91.0M) | ($177.0M) |
| Total Stockholders' Equity | $1.7B | $2.5B | $2.9B | $3.8B |
| Total Liabilities and Stockholders' Equity | $29.1B | $24.0B | $26.0B | $29.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $162.0M | $178.0M | $732.0M | $180.0M |
| Funds deposited by counterparties | $167.0M | $176.0M | $323.0M | $446.0M |
| Restricted cash | $50.0M | $57.0M | $30.0M | $17.0M |
| Accounts receivable, net | $3.5B | $3.8B | $3.3B | $3.4B |
| Inventory | $793.0M | $665.0M | $452.0M | $451.0M |
| Derivative instruments | $3.2B | $3.1B | $1.9B | $2.3B |
| Cash collateral paid in support of energy risk management activities | $441.0M | $606.0M | $358.0M | $361.0M |
| Prepayments and other current assets | $1.3B | $1.4B | $969.0M | $987.0M |
| Total current assets | $9.7B | $9.9B | $8.1B | $8.2B |
| Property, plant and equipment, net | $14.1B | $13.5B | $3.4B | $3.2B |
| Operating lease right-of-use assets, net | $142.0M | $153.0M | $139.0M | $133.0M |
| Goodwill | $8.8B | $8.9B | $5.0B | $5.0B |
| Intangible assets, net | $2.1B | $2.5B | $2.4B | $2.5B |
| Derivative instruments | $1.6B | $1.7B | $1.5B | $1.7B |
| Deferred income taxes | $1.7B | $1.8B | $1.9B | $1.9B |
| Other non-current assets | $1.8B | $1.6B | $1.5B | $1.3B |
| Total other assets | $16.2B | $16.6B | $12.5B | $12.7B |
| Total Assets | $39.9B | $40.1B | $24.0B | $24.1B |
| Current portion of long-term debt and finance leases | $1.5B | $3.4B | $777.0M | $1.1B |
| Current portion of operating lease liabilities | $41.0M | $38.0M | $36.0M | $38.0M |
| Accounts payable | $2.6B | $2.5B | $2.3B | $2.5B |
| Derivative instruments | $3.1B | $3.2B | $1.9B | $2.0B |
| Cash collateral received in support of energy risk management activities | $167.0M | $176.0M | $323.0M | $446.0M |
| Deferred revenue current | $837.0M | $727.0M | $710.0M | $715.0M |
| Accrued expenses and other current liabilities | $1.7B | $1.8B | $1.7B | $2.0B |
| Total current liabilities | $10.0B | $11.8B | $7.7B | $8.8B |
| Long-term debt and finance leases | $21.7B | $19.8B | $11.2B | $9.8B |
| Non-current operating lease liabilities | $170.0M | $165.0M | $143.0M | $134.0M |
| Derivative instruments | $1.3B | $1.5B | $1.1B | $1.3B |
| Deferred income taxes | $15.0M | $139.0M | $12.0M | $12.0M |
| Deferred revenue non-current | $984.0M | $868.0M | $942.0M | $905.0M |
| Other non-current liabilities | $870.0M | $920.0M | $911.0M | $883.0M |
| Total other liabilities | $25.1B | $23.3B | $14.3B | $13.0B |
| Total Liabilities | $35.1B | $35.2B | $22.0B | $21.8B |
| Preferred stock; 10,000,000 shares authorized; 650,000 Series A shares issued and outstanding at June 30, 2026 and December 31, 2025, aggregate liquidation preference of $650 at June 30, 2026 and December 31, 2025 | 650.0M | 650.0M | 650.0M | 650.0M |
| Common stock; $0.01 par value; 500,000,000 shares authorized; 225,198,900 and 199,828,615 shares issued and 210,307,902 and 190,376,607 shares outstanding at June 30, 2026 and December 31, 2025, respectively | 2.0M | 2.0M | 2.0M | 2.0M |
| Additional paid-in-capital | $3.9B | $3.9B | $166.0M | $305.0M |
| Retained earnings | $2.4B | $2.0B | $2.0B | $2.0B |
| Treasury stock, at cost; 14,890,998 shares and 9,452,008 shares at June 30, 2026 and December 31, 2025, respectively | -2.0B | -1.5B | -745.0M | -538.0M |
| Accumulated other comprehensive loss | ($87.0M) | ($84.0M) | ($105.0M) | ($101.0M) |
| Total Stockholders’ Equity | $4.9B | $4.9B | $2.0B | $2.3B |
| Total Liabilities and Stockholders’ Equity | $39.9B | $40.1B | $24.0B | $24.1B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net Income/(Loss) | $864.0M | $1.1B | ($202.0M) | $1.2B |
| Depreciation of property, plant and equipment and amortization of customer relationships and other intangible assets | $896.0M | $1.1B | $1.1B | $634.0M |
| Amortization of capitalized contract costs | $510.0M | $332.0M | — | — |
| Accretion of asset retirement obligations | $29.0M | $34.0M | $27.0M | $55.0M |
| Provision for credit losses | $272.0M | $314.0M | $251.0M | $11.0M |
| Amortization of nuclear fuel | $0 | $0 | $47.0M | $54.0M |
| Amortization of financing costs and debt discounts | $51.0M | $39.0M | $52.0M | $23.0M |
| Loss/(gain) on debt extinguishment | $10.0M | $382.0M | ($109.0M) | $0 |
| Amortization of in-the-money contracts and emissions allowances | $97.0M | $105.0M | $137.0M | $158.0M |
| Amortization of unearned equity compensation | $134.0M | $102.0M | $101.0M | $28.0M |
| Net loss/(gain) on sale of assets and disposal of assets | $25.0M | ($192.0M) | ($1.6B) | ($102.0M) |
| Gain on proceeds from insurance recoveries for property, plant and equipment, net | ($100.0M) | — | — | — |
| Impairment losses | $39.0M | $43.0M | $128.0M | $206.0M |
| Changes in derivative instruments | $450.0M | ($337.0M) | $2.5B | ($3.2B) |
| Changes in current and deferred income taxes and liability for uncertain tax benefits | $213.0M | $165.0M | ($92.0M) | $382.0M |
| Changes in collateral deposits in support of risk management activities | $7.0M | $245.0M | ($1.8B) | $896.0M |
| Equity in and distributions from earnings of unconsolidated affiliates | ($8.0M) | ($13.0M) | ($6.0M) | $7.0M |
| Accounts receivable - trade | ($760.0M) | ($366.0M) | $840.0M | ($1.6B) |
| Inventory | $30.0M | $111.0M | $189.0M | ($252.0M) |
| Prepayments and other current assets | ($757.0M) | ($539.0M) | ($233.0M) | $17.0M |
| Accounts payable | $192.0M | $170.0M | ($1.5B) | $1.3B |
| Accrued expenses and other current liabilities | $28.0M | $136.0M | $360.0M | ($29.0M) |
| Other assets and liabilities | ($309.0M) | ($621.0M) | ($473.0M) | ($161.0M) |
| Cash provided/(used) by operating activities | $1.9B | $2.3B | ($221.0M) | $360.0M |
| Payments for acquisitions of businesses and assets, net of cash acquired | ($596.0M) | ($38.0M) | ($2.5B) | ($62.0M) |
| Capital expenditures | ($1.1B) | ($472.0M) | ($598.0M) | ($367.0M) |
| Proceeds from sales of assets, net of cash disposed | $6.0M | $501.0M | $2.0B | $109.0M |
| Net purchases of emissions allowances | ($1.0M) | ($18.0M) | ($24.0M) | ($6.0M) |
| Proceeds from insurance recoveries for property, plant and equipment, net | $100.0M | $3.0M | $240.0M | — |
| Investments in nuclear decommissioning trust fund securities | $0 | $0 | ($367.0M) | ($454.0M) |
| Proceeds from the sale of nuclear decommissioning trust fund securities | $0 | $0 | $355.0M | $448.0M |
| Cash used by investing activities | ($1.6B) | ($24.0M) | ($910.0M) | ($332.0M) |
| Proceeds from issuance of preferred stock, net of fees | $0 | $0 | $635.0M | — |
| Equivalent shares purchased in lieu of tax withholdings | -92.0M | -50.0M | — | — |
| Payments for share repurchase activity and excise tax | ($1.3B) | ($935.0M) | ($1.2B) | ($606.0M) |
| Payment for settlement of capped call options | ($292.0M) | — | — | — |
| Payments of dividends to preferred and common stockholders | ($411.0M) | ($405.0M) | ($381.0M) | ($332.0M) |
| Proceeds from issuance of long-term debt | $6.7B | $3.2B | $731.0M | $0 |
| Repayments of long-term debt and finance leases | ($1.0B) | ($3.3B) | ($523.0M) | ($5.0M) |
| Payments for debt extinguishment costs | $0 | ($262.0M) | $0 | $0 |
| Payments of deferred financing costs | ($78.0M) | ($45.0M) | ($32.0M) | ($9.0M) |
| Net receipts/(payments) from settlement of acquired derivatives that include financing elements | $59.0M | ($3.0M) | $342.0M | $2.0B |
| Proceeds from credit facilities | $1.6B | $1.1B | $3.0B | — |
| Repayments to credit facilities | ($1.6B) | ($1.1B) | ($3.0B) | — |
| Cash provided/(used) by financing activities | $3.5B | ($1.8B) | ($400.0M) | $1.0B |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $631.0M | $125.0M | $798.0M | $646.0M |
| Depreciation of property, plant and equipment and amortization of customer relationships and other intangible assets | $602.0M | $277.0M | $667.0M | $444.0M |
| Amortization of capitalized contract costs | $324.0M | $155.0M | $363.0M | $226.0M |
| Accretion of asset retirement obligations | $17.0M | $7.0M | $22.0M | $20.0M |
| Provision for credit losses | $104.0M | $59.0M | $201.0M | $113.0M |
| Amortization of financing costs and debt discounts/premiums | $10.0M | $5.0M | $24.0M | $13.0M |
| Loss on debt extinguishment | $9.0M | — | $10.0M | $10.0M |
| Amortization of in-the-money contracts and emissions allowances | $47.0M | $36.0M | $75.0M | $51.0M |
| Amortization of unearned equity compensation | $72.0M | $41.0M | $83.0M | $62.0M |
| Net (gain)/loss on sale of assets and disposal of assets | ($38.0M) | $3.0M | $7.0M | $10.0M |
| Gain on proceeds from insurance recoveries for Property, plant and equipment, net | $0 | $0 | ($100.0M) | ($100.0M) |
| Changes in derivative instruments | ($61.0M) | $190.0M | $447.0M | $18.0M |
| Changes in current and deferred income taxes and liability for uncertain tax benefits | ($33.0M) | ($56.0M) | $209.0M | $126.0M |
| Changes in collateral deposits in support of risk management activities | $14.0M | ($142.0M) | $76.0M | $197.0M |
| Accounts receivable, net | $910.0M | $809.0M | — | — |
| Inventory | ($156.0M) | ($29.0M) | — | — |
| Prepayments and other current assets | ($441.0M) | ($196.0M) | — | — |
| Accounts payable | ($780.0M) | ($910.0M) | — | — |
| Accrued expenses and other current liabilities | ($164.0M) | ($315.0M) | — | — |
| Other assets and liabilities | ($119.0M) | ($228.0M) | ($1.1B) | ($529.0M) |
| Cash provided by operating activities | $948.0M | ($169.0M) | $1.8B | $1.3B |
| Payments for acquisitions of businesses and assets, net of cash acquired | ($7.1B) | ($6.8B) | ($591.0M) | ($586.0M) |
| Capital expenditures | ($655.0M) | ($317.0M) | ($849.0M) | ($595.0M) |
| Proceeds from sales of assets, net | $44.0M | $0 | $6.0M | $6.0M |
| Purchases of emissions allowances | ($41.0M) | $0 | ($6.0M) | ($7.0M) |
| Sales of emissions allowances | $44.0M | — | — | — |
| Proceeds from insurance recoveries for Property, plant and equipment, net | $0 | $0 | $100.0M | $100.0M |
| Cash used in investing activities | ($7.7B) | ($7.1B) | ($1.3B) | ($1.1B) |
| Equivalent shares purchased in lieu of tax withholdings | -99.0M | -79.0M | -86.0M | -77.0M |
| Payments for share repurchase activity and excise tax | ($931.0M) | ($481.0M) | ($958.0M) | ($603.0M) |
| Payments of dividends to preferred and common stockholders | ($235.0M) | ($135.0M) | ($326.0M) | ($207.0M) |
| Proceeds from issuance of long-term debt | $3.7B | $57.0M | $1.4B | $0 |
| Repayments of long-term debt and finance leases | ($1.6B) | ($12.0M) | ($249.0M) | ($10.0M) |
| Payments for debt extinguishment costs | ($9.0M) | — | $0 | $0 |
| Payments of deferred financing costs | ($84.0M) | ($42.0M) | ($55.0M) | ($31.0M) |
| Net receipts from settlement of acquired derivatives that include financing elements | $16.0M | $19.0M | $51.0M | $38.0M |
| Proceeds from credit facilities | $8.7B | $4.8B | $1.6B | $865.0M |
| Repayments to credit facilities | ($7.2B) | ($1.5B) | ($1.6B) | ($730.0M) |
| Cash provided by/(used in) financing activities | $2.1B | $2.7B | ($540.0M) | ($755.0M) |
| Effect of exchange rate changes on cash and cash equivalents | $2.0M | $2.0M | $2.0M | $1.0M |
| Net Decrease in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash | ($4.6B) | ($4.6B) | ($88.0M) | ($530.0M) |
| Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period | $5.0B | $5.0B | $1.2B | $1.2B |
| Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period | $379.0M | $411.0M | $1.1B | $643.0M |
NRG Energy Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.