ED
Consolidated Edison, Inc.
ED's fundamentals are strong: it turned 24% of its revenue into free cash flow and revenue grew 8.9%. At 19x earnings, it's trading right at its usual valuation. Analysts expect earnings growth.
ED Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
ED's revenue, profitability, cash flow and balance sheet are all currently healthy.
ED PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $106 | -11% |
| Fair | 19x | $120 | +0.2% |
| Current | 19x | $119 | — |
| Forward | 19x | $119 | — |
| Expensive | 22x | $137 | +15% |
Historical ranges are pointers, not guarantees.
ED's PE is in its fair range at 19.1x. On analysts' estimates for next year's earnings, today's price would be 18.6x.
ED Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ED, with profitability holding steady.
ED Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.42 | +2.9% |
| Q3 2026 | $6.24 | +9.1% |
| Q2 2026 | $6.08 | +10% |
| Q1 2026 | $5.93 | +9.6% |
| Q4 2025 | $5.64 | +7.6% |
| Q3 2025 | $5.72 | +7.1% |
| Q2 2025 | $5.51 | +6.6% |
| Q1 2025 | $5.41 | +3.2% |
| Q4 2024 | $5.24 | -27% |
ED earned $6.24 per share over the past year, up 9.1% from the year before.
ED Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.9B | +8.5% |
| Q2 2026 | $4.1B | +13% |
| Q1 2026 | $5.1B | +6.2% |
| Q4 2025 | $4B | +8.9% |
| Q3 2025 | $4.5B | +11% |
| Q2 2025 | $3.6B | +12% |
| Q1 2025 | $4.8B | +12% |
| Q4 2024 | $3.7B | +6.5% |
ED's revenue has grown year over year for 10 quarters in a row: $4.9B last quarter, up 8.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 24% | +2.4 points |
| Q2 2026 | 14% | +3.7 points |
| Q1 2026 | 23% | -0.3 points |
| Q4 2025 | 12% | -0.8 points |
| Q3 2025 | 21% | +0.3 points |
| Q2 2025 | 9.9% | -0.1 points |
| Q1 2025 | 23% | -0.2 points |
| Q4 2024 | 13% | -0.1 points |
ED's operating margin was 24% last quarter, up 2.4 points from the same quarter a year ago.
ED Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $854M | +69% |
| Q2 2026 | $1.8B | -9.2% |
| Q1 2026 | $174M | -79% |
| Q4 2025 | $1.5B | +13% |
| Q3 2025 | $504M | +29% |
| Q2 2025 | $2B | +48% |
| Q1 2025 | $837M | +46% |
| Q4 2024 | $1.3B | +34% |
ED generated $4.3B in free cash flow over the past year, down 7% from the year before.
ED Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +1.7M shares |
| 1 year | +2.7% | +9.8M shares |
| 3 years | +7.3% | +25.2M shares |
| 5 years | +5% | +17.6M shares |
| Available history | +13% | +42.2M shares |
ED has 372M diluted shares, up 2.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | $1B |
ED Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | -0.1x | Net Cash |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 4.6x | High |
| Q3 2025 | 0.2x | Very low |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 5.3x | High |
ED's net debt is less than a year of its operating earnings (EBITDA).
ED Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.4 | Neutral |
| Stochastic | 85.7 | Overbought |
ED's weekly RSI is 67 (neutral) and its Stochastic is 86 (overbought).
ED PE vs Utilities Sector
| Metric | ED | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 20x | 6.3% below |
| PE % | 49 | 44 | 5 pts above |
ED is trading at 19x earnings, in line with the Utilities sector's median of 20x.
ED Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $111.9 | 6.7% above |
| 20 week MA | $110.2 | 8.3% above |
| 50 week MA | $108.4 | 10% above |
| 100 week MA | $104.5 | 14% above |
| 200 week MA | $99.1 | 20% above |
ED is in an uptrend: it's above all five of its weekly moving averages, and 20% above its 200-week average.
ED Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $89.9 | $70.4 | -22% |
| 2021 | $70.4 | $83.8 | +19% |
| 2022 | $83.8 | $95.9 | +14% |
| 2023 | $95.9 | $91.0 | -5.1% |
| 2024 | $91.0 | $89.6 | -1.5% |
| 2025 | $89.6 | $99.3 | +11% |
| 2026 YTD | $99.3 | $119.4 | +20% |
ED has finished lower in three of the last six years. It's up 20% so far in 2026.