ES
Eversource Energy
ES's fundamentals are mixed: its operating margin rose 2 points to 21%, but free cash flow was negative. At 19x earnings, it's trading below its usual 23x. Analysts expect earnings growth.
ES Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Under pressure | |
| Weak |
ES's profitability is currently healthy, and its revenue is stable, but its cash flow and balance sheet are under pressure.
ES PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $71.15 | — |
| Cheap | 18x | $66.47 | -6.6% |
| Current | 19x | $71.15 | — |
| Fair | 23x | $88.45 | +24% |
| Expensive | 28x | $105 | +48% |
Historical ranges are pointers, not guarantees.
ES's PE is in its cheap range at 19x. If earnings grow as analysts expect, today's price would be 15x next year's earnings.
ES Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ES, but weaker profitability.
ES Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.88 | +29% |
| Q3 2026 | $3.78 | +4.7% |
| Q2 2026 | $3.85 | +68% |
| Q1 2026 | $4.67 | +105% |
| Q4 2025 | $4.56 | +101% |
| Q3 2025 | $3.61 | +$5.18 |
| Q2 2025 | $2.29 | +$2.56 |
| Q1 2025 | $2.28 | +$3.46 |
| Q4 2024 | $2.27 | +$3.53 |
ES's earnings per share have climbed steadily: $3.78 over the past year, up 4.7% from the year before, and higher year over year for eight quarters in a row.
ES Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3B | -7.5% |
| Q2 2026 | $2.9B | +2.3% |
| Q1 2026 | $4.5B | +9.4% |
| Q4 2025 | $3.4B | +13% |
| Q3 2025 | $3.2B | +5.1% |
| Q2 2025 | $2.8B | +12% |
| Q1 2025 | $4.1B | +24% |
| Q4 2024 | $3B | +10% |
ES's revenue is growing: $3B last quarter, down 7.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | -0.2 points |
| Q2 2026 | 19% | -4.7 points |
| Q1 2026 | 24% | +1.4 points |
| Q4 2025 | 21% | +9.4 points |
| Q3 2025 | 21% | +1.4 points |
| Q2 2025 | 23% | -0.4 points |
| Q1 2025 | 22% | -2.9 points |
| Q4 2024 | 12% | -9 points |
ES's operating margin was 21% last quarter, about level with the same quarter a year ago.
ES Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$375.6M | -$349.3M |
| Q2 2026 | $76.3M | +399% |
| Q1 2026 | $315M | +849% |
| Q4 2025 | -$67.3M | +$479.3M |
| Q3 2025 | -$26.3M | +$489M |
| Q2 2025 | $15.3M | +$416.1M |
| Q1 2025 | $33.2M | +$891.3M |
| Q4 2024 | -$546.5M | +$187.7M |
ES has burned cash in most quarters: −$52M over the past year, against −$524M the year before.
ES Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +660K shares |
| 1 year | +1.4% | +5.4M shares |
| 3 years | +7.9% | +27.8M shares |
| 5 years | +9.6% | +33M shares |
| Available history | +17% | +54.7M shares |
ES has 378M diluted shares, up 1.4% from a year ago.
ES Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.7x | High |
| Q2 2026 | 5.2x | High |
| Q1 2026 | 5.3x | High |
| Q4 2025 | 5.2x | High |
| Q3 2025 | 5.5x | High |
| Q2 2025 | 5.5x | High |
| Q1 2025 | 5.8x | High |
| Q4 2024 | 6.4x | High |
ES's net debt is about 5.7 years of its operating earnings (EBITDA), up from 5.5 years a year ago.
ES Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.1 | Neutral |
| Stochastic | 64.0 | Neutral |
ES's weekly RSI is 55 (neutral) and its Stochastic is 64 (neutral).
ES PE vs Utilities Sector
| Metric | ES | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 20x | 7.8% below |
| PE % | 28 | 44 | 16 pts below |
ES is trading at 19x earnings, in line with the Utilities sector's median of 20x.
ES Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $67.2 | 5.8% above |
| 20 week MA | $70.1 | 1.6% above |
| 50 week MA | $69.8 | 1.9% above |
| 100 week MA | $66.8 | 6.5% above |
| 200 week MA | $65.9 | 8% above |
ES is in an uptrend: it's above all five of its weekly moving averages, and 8% above its 200-week average.
ES Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $84.3 | $84.2 | -0.2% |
| 2021 | $84.2 | $89.4 | +6.3% |
| 2022 | $89.4 | $84.2 | -5.8% |
| 2023 | $84.2 | $61.7 | -27% |
| 2024 | $61.7 | $57.3 | -7.1% |
| 2025 | $57.3 | $67.2 | +17% |
| 2026 YTD | $67.2 | $71.2 | +5.8% |
ES has finished lower in four of the last six years. It's up 5.8% so far in 2026.