Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsFlagged areas: Solvency & liquidity.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- 2 filing risk checks flagged
Flagged areas: Solvency & liquidity.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Operating margin was stable
Operating margin changed +0.8 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Revenue expanded
Latest reported annual revenue changed +22.8% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Free cash flow turned positive
Latest reported free cash flow was $26M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Electric Distribution Contracts$4.86B47.5%+22.2% yoy
- Gas Distribution Contracts$2.46B24.1%+19.5% yoy
- Transmission$1.78B17.4%+1.4% yoy
- Other Contract Revenues$1.13B11.1%+7.4% yoy
Members sum to $10.2B against $12.1B consolidated (residual $1.89B) - eliminations or corporate lines the filer did not tag on this axis.
- Gas Distribution Contracts$1.36B41.7%+18.7% yoy
- Electric Distribution Contracts$1.17B36.1%+24.4% yoy
- Transmission$454M14.0%+3.4% yoy
- Other Contract Revenues$266M8.2%-0.7% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,058 US-listed filers · 114 in Utilities| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $12.1B | 89thof 3,301 top third | 73rdof 102 top third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 22.8% | 80thof 3,137 top third | 85thof 97 top third |
Operating margin operating income ÷ revenue | 24.6% | 89thof 2,819 top third | 68thof 97 top third |
Net margin net income ÷ revenue | 17.4% | 82ndof 3,263 top third | 75thof 101 top third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 0.2% | 35thof 2,679 middle third | 54thof 83 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 12.4% | 74thof 3,577 top third | 77thof 104 top third |
Interest coverage operating income ÷ interest expense (interest expense > 0) | 3.0× | 62ndof 819 middle third | 81stof 39 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 57 days | 40thof 2,398 middle third | 22ndof 84 bottom third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 6.8× | 18thof 1,547 bottom third | 24thof 81 bottom third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 1.6× | 51stof 1,954 middle third | 14thof 88 bottom third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -2.1% | 32ndof 2,770 bottom third | 11thof 95 bottom third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 0 changed periodsNo period on file has changed between its first report and the latest filing carrying it.
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for PEG yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.