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Side-by-side financial comparison of Ameren (AEE) and Evergy (EVRG). Click either name above to swap in a different company.
Ameren is the larger business by last-quarter revenue ($1.8B vs $1.3B, roughly 1.4× Evergy). Ameren runs the higher net margin — 14.2% vs 6.5%, a 7.7% gap on every dollar of revenue. On growth, Evergy posted the faster year-over-year revenue change (5.3% vs -8.2%). Ameren produced more free cash flow last quarter ($-54.0M vs $-530.5M). Over the past eight quarters, Evergy's revenue compounded faster (0.4% CAGR vs -0.9%).
Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. It operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. The company engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution and transmission businesses. It primarily generates electricity through coal, nucle...
Evergy, Inc. is an American investor-owned utility (IOU) with publicly traded stock with headquarters in Topeka, Kansas, and in Kansas City, Missouri. The company was formed from a merger of Westar Energy of Topeka and Great Plains Energy of Kansas City, parent company of Kansas City Power & Light. Evergy is the largest electric company in Kansas, serving more than 1.7 million residential, commercial and industrial customers in Kansas and Missouri.
AEE vs EVRG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $1.3B |
| Net Profit | $253.0M | $84.3M |
| Gross Margin | — | — |
| Operating Margin | 20.2% | 18.5% |
| Net Margin | 14.2% | 6.5% |
| Revenue YoY | -8.2% | 5.3% |
| Net Profit YoY | 21.6% | 7.8% |
| EPS (diluted) | $0.92 | $0.35 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.8B | $1.3B | ||
| Q3 25 | $2.7B | $1.8B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $2.2B | $1.8B | ||
| Q2 24 | $1.7B | $1.4B | ||
| Q1 24 | $1.8B | $1.3B |
| Q4 25 | $253.0M | $84.3M | ||
| Q3 25 | $641.0M | $475.0M | ||
| Q2 25 | $277.0M | $171.3M | ||
| Q1 25 | $290.0M | $125.0M | ||
| Q4 24 | $208.0M | $78.2M | ||
| Q3 24 | $457.0M | $465.6M | ||
| Q2 24 | $260.0M | $207.0M | ||
| Q1 24 | $262.0M | $122.7M |
| Q4 25 | 20.2% | 18.5% | ||
| Q3 25 | 30.6% | 37.3% | ||
| Q2 25 | 18.5% | 25.4% | ||
| Q1 25 | 20.5% | 22.5% | ||
| Q4 24 | 10.2% | 18.1% | ||
| Q3 24 | 27.0% | 35.1% | ||
| Q2 24 | 21.3% | 25.4% | ||
| Q1 24 | 20.4% | 20.3% |
| Q4 25 | 14.2% | 6.5% | ||
| Q3 25 | 23.7% | 26.9% | ||
| Q2 25 | 12.5% | 12.6% | ||
| Q1 25 | 13.8% | 9.7% | ||
| Q4 24 | 10.7% | 6.4% | ||
| Q3 24 | 21.0% | 26.0% | ||
| Q2 24 | 15.4% | 14.7% | ||
| Q1 24 | 14.4% | 9.6% |
| Q4 25 | $0.92 | $0.35 | ||
| Q3 25 | $2.35 | $2.03 | ||
| Q2 25 | $1.01 | $0.74 | ||
| Q1 25 | $1.07 | $0.54 | ||
| Q4 24 | $0.77 | $0.34 | ||
| Q3 24 | $1.70 | $2.02 | ||
| Q2 24 | $0.97 | $0.90 | ||
| Q1 24 | $0.98 | $0.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.0M | $19.8M |
| Total DebtLower is stronger | $19.4B | — |
| Stockholders' EquityBook value | $13.4B | $10.2B |
| Total Assets | $48.5B | $33.9B |
| Debt / EquityLower = less leverage | 1.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.0M | $19.8M | ||
| Q3 25 | $9.0M | $27.5M | ||
| Q2 25 | $11.0M | $27.8M | ||
| Q1 25 | $23.0M | $35.3M | ||
| Q4 24 | $7.0M | $22.0M | ||
| Q3 24 | $17.0M | $34.6M | ||
| Q2 24 | $19.0M | $26.1M | ||
| Q1 24 | $85.0M | $63.7M |
| Q4 25 | $19.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $17.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $13.4B | $10.2B | ||
| Q3 25 | $12.8B | $10.3B | ||
| Q2 25 | $12.3B | $10.0B | ||
| Q1 25 | $12.2B | $9.9B | ||
| Q4 24 | $12.1B | $10.0B | ||
| Q3 24 | $11.8B | $10.0B | ||
| Q2 24 | $11.5B | $9.7B | ||
| Q1 24 | $11.4B | $9.6B |
| Q4 25 | $48.5B | $33.9B | ||
| Q3 25 | $47.4B | $33.4B | ||
| Q2 25 | $46.6B | $32.9B | ||
| Q1 25 | $45.7B | $32.5B | ||
| Q4 24 | $44.6B | $32.3B | ||
| Q3 24 | $43.3B | $32.1B | ||
| Q2 24 | $42.3B | $31.8B | ||
| Q1 24 | $41.3B | $31.3B |
| Q4 25 | 1.45× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $956.0M | $334.0M |
| Free Cash FlowOCF − Capex | $-54.0M | $-530.5M |
| FCF MarginFCF / Revenue | -3.0% | -41.1% |
| Capex IntensityCapex / Revenue | 56.7% | 66.9% |
| Cash ConversionOCF / Net Profit | 3.78× | 3.96× |
| TTM Free Cash FlowTrailing 4 quarters | $-775.0M | $-751.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $956.0M | $334.0M | ||
| Q3 25 | $1.1B | $937.7M | ||
| Q2 25 | $862.0M | $323.9M | ||
| Q1 25 | $431.0M | $449.6M | ||
| Q4 24 | $817.0M | $395.6M | ||
| Q3 24 | $897.0M | $953.3M | ||
| Q2 24 | $557.0M | $317.5M | ||
| Q1 24 | $492.0M | $317.3M |
| Q4 25 | $-54.0M | $-530.5M | ||
| Q3 25 | $116.0M | $225.4M | ||
| Q2 25 | $-204.0M | $-303.4M | ||
| Q1 25 | $-633.0M | $-143.2M | ||
| Q4 24 | $-473.0M | $-118.6M | ||
| Q3 24 | $-240.0M | $427.0M | ||
| Q2 24 | $-445.0M | $-360.0M | ||
| Q1 24 | $-398.0M | $-301.3M |
| Q4 25 | -3.0% | -41.1% | ||
| Q3 25 | 4.3% | 12.8% | ||
| Q2 25 | -9.2% | -22.4% | ||
| Q1 25 | -30.2% | -11.1% | ||
| Q4 24 | -24.4% | -9.7% | ||
| Q3 24 | -11.0% | 23.9% | ||
| Q2 24 | -26.3% | -25.6% | ||
| Q1 24 | -21.9% | -23.5% |
| Q4 25 | 56.7% | 66.9% | ||
| Q3 25 | 36.6% | 40.4% | ||
| Q2 25 | 48.0% | 46.3% | ||
| Q1 25 | 50.7% | 45.8% | ||
| Q4 24 | 66.5% | 41.9% | ||
| Q3 24 | 52.3% | 29.4% | ||
| Q2 24 | 59.2% | 48.1% | ||
| Q1 24 | 49.0% | 48.3% |
| Q4 25 | 3.78× | 3.96× | ||
| Q3 25 | 1.72× | 1.97× | ||
| Q2 25 | 3.11× | 1.89× | ||
| Q1 25 | 1.49× | 3.60× | ||
| Q4 24 | 3.93× | 5.06× | ||
| Q3 24 | 1.96× | 2.05× | ||
| Q2 24 | 2.14× | 1.53× | ||
| Q1 24 | 1.88× | 2.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AEE
Segment breakdown not available.
EVRG
| Electric Utility Customer Class Residential | $462.9M | 36% |
| Electric Utility Customer Class Commercial | $447.6M | 35% |
| Electric Utility Customer Class Industrial | $164.1M | 13% |
| Electric Utility Customer Class Transmission | $129.4M | 10% |
| Electric Utility Customer Class Wholesale | $69.7M | 5% |
| Electric Utility Customer Class Other Retail | $12.2M | 1% |
| Electric Utility Customer Class Industrial Steam | $5.7M | 0% |
