NRG Energy, Inc.

NRGUS

NRG Energy, Inc., together with its affiliated entities, operates as a comprehensive power utility spanning the United States. Its operations are divided into three main geographical divisions: Texas, East, and West. The company plays a crucial role in generating, distributing, and selling electricity and various related services, serving approximately six million customers across residential, commercial, industrial, and wholesale sectors. Their energy generation capabilities are diverse, drawing from natural gas, coal, oil, solar, nuclear, and battery storage technologies. Beyond core power provision, NRG offers an extensive array of solutions, including centralized system power, decentralized generation, renewable energy products, emergency backup power, distributed solar and storage installations, demand-side management, energy efficiency programs, expert advisory services, carbon management initiatives, and bespoke on-site energy solutions. Furthermore, NRG actively engages in the trading of electric power, natural gas, and associated commodities, alongside environmental credits, weather-related products, and various financial instruments such as forwards, futures, options, and swaps. The company also manages fuel procurement and transportation services. It directly markets energy, services, and products to retail consumers through several established brands, including NRG, Reliant, Direct Energy, Green Mountain Energy, Stream, and XOOM Energy. As of December 31, 2021, NRG Energy's generation assets encompassed approximately 18,000 megawatts of capacity across 25 owned and leased facilities. The corporation was founded in 1989 and maintains its corporate headquarters in Houston, Texas.

Founded1989IPO year2003As of2026-08-04
Market Cap
$24.31B
Enterprise Value
$47.61B
EV / LTM Revenue
1.6x
EV / NTM Revenue
1.4x
Trading multiples

Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.

LTM
trailing
NTM
forward
Revenue
1.4x
Gross Profit
5.8x
EBITDA
12.3x
Classification
Sector
Industrial, Aerospace & Defense
Sub-sector
Electrical Equipment & Power Systems
Listing
NRG
Country
US
Historical valuation & fundamentals

EV / LTM Revenue

Annual financials & analyst forecasts

$MCY2021CY2022CY2023CY2024CY2025CY2026ECY2027E
Revenue YoY17%-9%-2%9%12%3%
Revenue$26.99B$31.54B$28.82B$28.13B$30.71B$34.41B$35.61B
Gross Profit$6.51B$4.10B$2.31B$6.03B$6.71B
Gross Profit Margin24.1%13.0%8.0%21.4%21.8%
EBITDA$4.40B$2.77B$1.75B$3.50B$3.81B$3.80B$3.94B
EBITDA Margin16.3%8.8%6.1%12.4%12.4%11.1%11.1%
EBIT$3.34B$2.02B$384M$2.42B$1.85B$2.34B$2.43B
Net Income$2.19B$1.22B($202M)$1.13B$864M$1.90B$2.31B
Free Cash Flow$224M($7M)($819M)$1.83B$766M
FCF Margin0.8%-0.0%-2.8%6.5%2.5%
Short-Term Debt$4M$63M$620M$996M$66M
Long-Term Debt$7.97B$7.98B$10.13B$9.81B$16.54B
Cash & Cash Equivalents$250M$430M$541M$966M$4.74B
Net Debt$7.72B$7.61B$10.21B$9.84B$11.87B
Net Debt / EBITDA1.8x2.7x5.8x2.8x3.1x
Rule of 4016.9%-11.5%4.1%11.7%
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.