Evergy, Inc. (EVRG) Stock

Evergy, Inc. (EVRG) is a Utilities stock trading at $80.93 (as of 2026-08-21), with a market capitalization of $18.66B and a trailing P/E of 20.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Evergy, Inc., through its subsidiaries, generates, transmits, distributes, and sells electricity in Kansas and Missouri. Its generation uses multiple fuel sources and includes renewable generation, and it serves residential, commercial, industrial, municipal, and other electric utility customers.

Understand Evergy, Inc.: how it makes money

Evergy generates, transmits, distributes, and sells electricity in Kansas and Missouri, earning revenue from serving about 1,620,400 customers using a mix of generation sources and grid infrastructure.

Evergy's profit model is driven by regulated electricity service, where allowed revenue and net revenue change through rate settlements, rate reviews, and regulatory deferrals or liabilities such as Sibley revenue deferral (regulatory liability).

Business quality (Mixed): The provided facts point to a regulation-driven earnings engine (rate settlements, rate reviews, and a specific regulatory deferral). The main limitation is that no full, reportable business segment breakdown is provided here.

Valuation: At 22× earnings, EVRG trades in line with the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

Regulatory mechanisms can add net revenue: The dataset includes net revenue increases tied to Kansas Central settlement net revenue increase (0.13B) and Evergy Missouri West rate review net revenue increase (0.06B).
Broader generation mix supports reliability of supply: Evergy generates electricity from multiple sources, including coal, hydroelectric, landfill gas, uranium, natural gas and oil, and solar and wind.
Large customer base underpins steady utility demand: Evergy serves approximately 1,620,400 customers across residences and commercial firms.

Bear case

Earnings sensitivity to rate reviews and settlements: Because net revenue changes are linked to rate settlements and rate reviews, less favorable regulatory outcomes could reduce future net revenue.
Regulatory deferrals can reverse or shift timing: Sibley revenue deferral is classified as a regulatory liability, which implies future resolution could affect timing and reported results.
Operational focus remains heavy on regulated grid economics: The profit driver highlighted in the facts is regulatory deferrals and net revenue increases, indicating continued reliance on regulatory determinations for earnings.

Valuation — source: SEC EDGAR (first-party)
Price	$80.93
Market Cap	$18.66B
P/E Ratio	20.1
EV / EBITDA	11.5
Price / Book	1.83
Price / Sales	3.08
FCF Yield	-7.0%
DCF Value (model)	$26.06
DCF Upside vs Price	-67.8%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$5.96B
Net Margin	14.4%
Revenue Growth (YoY)	12.9%
EPS Growth (YoY)	8.8%

Financial Health — source: SEC EDGAR
Altman Z-Score	0.85 (distress)

Valuation vs Sector & Industry
Stock P/E	20.1
Sector P/E (Utilities)	20.8
Industry P/E (Utilities)	20.1
vs Sector	-3.7%
vs Industry	0.0%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)	1
Top Institutional Holder	VANGUARD GROUP INC ($2.19B)
Institutional Holders Tracked	10
Congressional Trades (recent)	2

Company
Sector	Utilities
Industry	Utilities
CEO	David A. Campbell
Employees	4,731
Country	US
IPO Date	2018-06-04

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.