AEE
Ameren Corporation
AEE's fundamentals are mixed: its operating margin rose 4 points to 25%, but free cash flow was negative. At 20x earnings, it's trading in line with its usual 22x. Analysts expect earnings growth.
AEE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Weak | |
| Weak |
AEE's profitability is currently strong, and its revenue is stable, but its cash flow and balance sheet are weak.
AEE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $108 | -5.1% |
| Current | 20x | $114 | — |
| Forward | 20x | $114 | — |
| Fair | 22x | $124 | +9.1% |
| Expensive | 23x | $134 | +18% |
Historical ranges are pointers, not guarantees.
AEE's PE is in its cheap range at 19.7x. On analysts' estimates for next year's earnings, today's price would be 20.2x.
AEE Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for AEE, but weaker profitability.
AEE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.62 | -2.3% |
| Q3 2026 | $5.75 | +11% |
| Q2 2026 | $5.68 | +25% |
| Q1 2026 | $5.56 | +23% |
| Q4 2025 | $5.35 | +21% |
| Q3 2025 | $5.20 | +22% |
| Q2 2025 | $4.55 | +2.7% |
| Q1 2025 | $4.51 | +3.4% |
| Q4 2024 | $4.42 | +0.9% |
AEE's earnings per share have climbed steadily: $5.75 over the past year, up 11% from the year before, and higher year over year for eight quarters in a row.
AEE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.9B | +6.8% |
| Q2 2026 | $2.1B | -5.8% |
| Q1 2026 | $2.2B | +3.8% |
| Q4 2025 | $1.8B | -8.2% |
| Q3 2025 | $2.7B | +24% |
| Q2 2025 | $2.2B | +31% |
| Q1 2025 | $2.1B | +15% |
| Q4 2024 | $1.9B | +20% |
AEE's revenue has held roughly level: $2.9B last quarter, up 6.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | +0.7 points |
| Q2 2026 | 22% | +3.4 points |
| Q1 2026 | 24% | +3.9 points |
| Q4 2025 | 20% | +10 points |
| Q3 2025 | 31% | +3.6 points |
| Q2 2025 | 19% | -2.8 points |
| Q1 2025 | 21% | +0.1 points |
| Q4 2024 | 10% | -6.1 points |
AEE's operating margin was 31% last quarter, up 0.7 points from the same quarter a year ago, near the top of its range since 2019.
AEE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$434M | -474% |
| Q2 2026 | -$309M | -$105M |
| Q1 2026 | -$1.2B | -$520M |
| Q4 2025 | -$54M | +$419M |
| Q3 2025 | $116M | +$356M |
| Q2 2025 | -$204M | +$241M |
| Q1 2025 | -$633M | -$235M |
| Q4 2024 | -$473M | +$20M |
AEE has burned cash in almost every quarter: −$1.9B over the past year, against −$1.2B the year before.
AEE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +200K shares |
| 1 year | +2.5% | +6.7M shares |
| 3 years | +5.9% | +15.5M shares |
| 5 years | +7.8% | +20.3M shares |
| Available history | +13% | +31.8M shares |
AEE has 279M diluted shares, up 2.5% from a year ago.
AEE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.7x | High |
| Q2 2026 | 5.7x | High |
| Q1 2026 | 5.7x | High |
| Q4 2025 | 5.5x | High |
| Q3 2025 | 5.8x | High |
| Q2 2025 | 6.3x | High |
| Q1 2025 | 6.3x | High |
| Q4 2024 | 6.2x | High |
AEE's net debt is about 5.7 years of its operating earnings (EBITDA), about the same as a year ago.
AEE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.0 | Neutral |
| Stochastic | 83.3 | Overbought |
AEE's weekly RSI is 60 (neutral) and its Stochastic is 83 (overbought).
AEE PE vs Utilities Sector
| Metric | AEE | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 20x | 3.3% below |
| PE % | 28 | 44 | 16 pts below |
AEE is trading at 20x earnings, in line with the Utilities sector's median of 20x.
AEE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $106.6 | 6.5% above |
| 20 week MA | $108.0 | 5.1% above |
| 50 week MA | $107.7 | 5.4% above |
| 100 week MA | $103.2 | 10% above |
| 200 week MA | $91.6 | 24% above |
AEE is in an uptrend: it's above all five of its weekly moving averages, and 24% above its 200-week average.
AEE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $76.3 | $76.5 | +0.2% |
| 2021 | $76.5 | $87.0 | +14% |
| 2022 | $87.0 | $89.5 | +2.9% |
| 2023 | $89.5 | $72.3 | -19% |
| 2024 | $72.3 | $90.1 | +25% |
| 2025 | $90.1 | $99.8 | +11% |
| 2026 YTD | $99.8 | $113.5 | +14% |
AEE has finished higher in five of the last six years. It's up 14% so far in 2026.