FirstEnergy Corp. (FE) Stock

FirstEnergy Corp. (FE) is a Utilities stock trading at $48.53 (as of 2026-07-17), with a market capitalization of $28.07B and a trailing P/E of 17.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

FirstEnergy Corp., through subsidiaries, generates, transmits, and distributes electricity in the United States. It operates Regulated Distribution and Regulated Transmission segments, owning generation facilities and electric distribution and transmission networks, and serves about 6 million customers across Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York.

Understand FirstEnergy Corp.: how it makes money

FirstEnergy generates, transmits, and distributes electricity in the United States, operating through regulated distribution and regulated transmission businesses and earning regulated revenue tied to its electric infrastructure.

In regulated utilities like FirstEnergy, the profit engine is the allowed return on the company’s regulated rate base, with revenues updated through approved rate cases and related revenue adjustments.

Business quality (Solid): The company’s official operating model (regulated distribution and regulated transmission) is clear from the description. However, the provided dataset does not include reportable segment revenue values that sum to the latest total revenue (4.2B), so a revenue-segment breakdown cannot be shown here.

Valuation: At 25× earnings, FE trades 15% above the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

  • Regulated infrastructure supports the business model: FirstEnergy operates regulated distribution and regulated transmission systems and reports distribution and integrated rate base figures (2023).
  • Potential for revenue updates through approvals: The provided facts include a net annual revenue increase from approved rate cases (approx. 0.45B), plus additional net revenue adjustments.

Bear case

  • Earnings can hinge on regulator outcomes: Because the business is regulated (distribution and transmission), future revenue is exposed to the timing and results of approved rate cases and revenue adjustments.
Valuation — source: SEC EDGAR (first-party)
Price$48.53
Market Cap$28.07B
P/E Ratio17.8
EV / EBITDA6.2
Price / Book1.99
Price / Sales1.81
FCF Yield-10.5%
DCF Value (model)$70.01
DCF Upside vs Price44.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$15.09B
Net Margin6.8%
Revenue Growth (YoY)12.0%
EPS Growth (YoY)4.1%
FCF Growth (YoY)-11.8%
Financial Health — source: SEC EDGAR
Altman Z-Score0.75 (distress)
Valuation vs Sector & Industry
Stock P/E17.8
Sector P/E (Utilities)21.4
Industry P/E (Utilities)21.1
vs Sector-16.9%
vs Industry-15.8%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderCapital World Investors ($3.93B)
Institutional Holders Tracked10
Congressional Trades (recent)1
Company
SectorUtilities
IndustryUtilities
CEOBrian X. Tierney
Employees12,294
CountryUS
IPO Date1997-11-10

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

  • Entergy Corporation (ETR)
  • DTE Energy Company (DTE)
  • Edison International (EIX)
  • CenterPoint Energy, Inc. (CNP)
  • Eversource Energy (ES)
  • NRG Energy, Inc. (NRG)
  • PPL Corporation (PPL)
  • Talen Energy Corporation (TLN)
FE earnings history · FE institutional & insider holders · FE KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

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