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CONSOLIDATED EDISON INCED

Sector
Energy
Industry
Electric & Other Services Combined
Exchange
NYSE

Stock Price $ED

Latest filings

You are here#12 of 21 in Utilities by market cap

Filing record · 2016–202610-K1110-Q328-K142

ED filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 142 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Feb ’19Feb ’19
  2. Material agreement8-K · Jun ’21Jun ’21
  3. Material agreement8-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $17.05B
YoY changeLargest recent move+13.0%in FY22Latest +10.2%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All ED Financial Metrics57 metrics

Income Statement12

Balance Sheet25

Cash Flow15

Per Share5

02—Overview

CONSOLIDATED EDISON INC Financial Overview 2021–2025

Updated Aug 8, 2026

By divesting its Clean Energy Businesses for $6.8 billiona in FY2023, Consolidated Edison effectively eliminated its unregulated market exposure to focus entirely on its core utility operations. This structural pivot highlights the central investment thesis: Con Edison is trading cyclical energy markets for highly visible, rate-based infrastructure growth.

The financial trajectory reflects this operational stabilization, as earnings per share grew from $3.85 in FY2021 to $5.64b in FY2025. To drive this continuous growth, the company deployed $4.95 billion toward energy delivery system upgrades in FY2025 alone, backed by newly approved electric and gas rate plans spanning 2026 through 2028. Con Edison further streamlined its portfolio by agreeing to sell its remaining equity interest in the Mountain Valley Pipeline for $357.5 million. However, the utility does face ongoing liquidity friction from customer payment lags, exiting Q2 2026 with $1.385 billion in aged accounts receivable past 60 days.

At the close of FY2025, the market rewarded this pure-play utility focus with a $35.9 billionc capitalization. Shares ended the period priced at $99.32, trading at a 17.6x earnings multiple.

Recent Developments (Q1 and Q2 2026)

Con Edison sustained its strong operational momentum through the first half of 2026, driven by higher electric and gas rate bases. In Q2 2026, net income jumped to $308 milliond, or $0.83 per share, compared to $246 million, or $0.68 per share, in Q2 2025. Operating revenues simultaneously expanded from $3.595 billion to $4.069 billion year-over-year. To support its ongoing infrastructure investments, the utility aggressively bolstered its capital position by establishing a new $3.5 billion revolving credit facility in March 2026 and launching a $2 billion at-the-market equity program in May 2026. A subsidiary also issued $1.3 billion in new debt during June 2026.

The bull case is anchored by reliable revenue expansion fueled by approved rate adjustments and increased purchased power volumes. Conversely, bears will flag the risk of near-term equity dilution from the massive stock sale program, alongside new state legislation introducing strict performance-based mandates. Following this steady earnings performance, the stock traded at a richer 19.3x earnings multiple as of August 6, 2026.

What to watch: execution of the equity distribution program; impacts of new performance-based state legislation.

03—Filings

Recent SEC Filings

  1. 8-KCONSOLIDATED EDISON INC 8-K Report, Corporate Update (Sep 4, 2026)Consolidated Edison Company of New York, Inc. (CECONY), a subsidiary of Consolidated Edison, Inc. (ED), has entered into a joint proposal with the New York State Department of Public Service (NYSDPS) and other parties regarding a new steam rate plan. This proposal covers the three-year period from November 1, 2026, to October 31, 2029, and is subject to approval by the New York State Public Service Commission (NYSPSC). The Joint Proposal outlines planned base rate increases totaling $13 million in Year 1, $42 million in Year 2, and $39 million in Year 3. While these are the base rate changes, the company expects a consistent total bill impact of 3.5% each year, amounting to approximately $26.6 million, $27.5 million, and $28.5 million, respectively, with new rates effective November 1, 2026. The plan also includes provisions for capital expenditures, amortization of regulatory assets, and the continuation of key mechanisms like weather normalization and cost recovery for purchased power and fuel. Importantly, it introduces negative revenue adjustments for performance targets related to service, reliability, and safety, with potential charges escalating from $4.3 million to $4.7 million annually.
  2. 8-KCONSOLIDATED EDISON INC 8-K Report, Financial Results (Aug 6, 2026)Consolidated Edison, Inc. (ED) has filed an 8-K report on August 6, 2026, to furnish its earnings release and accompanying presentation for the three and six months ended June 30, 2026. While the filing itself does not contain detailed financial results, it directs investors to Exhibits 99.1 (Press Release) and 99.2 (Earnings Presentation) for this crucial information. Investors should review these furnished documents for insights into the company's operational performance and financial condition during the second quarter and first half of 2026. The key takeaway for investors is that the 8-K serves as the official notification of the release of these financial results. The detailed performance metrics, financial statements, and management commentary will be found within the attached press release and presentation. Investors seeking to understand ED's recent financial health, any changes in outlook, or specific segment performance should carefully examine these exhibits.
  3. 8-KCONSOLIDATED EDISON INC 8-K Report, Executive Changes (Jul 2, 2026)Consolidated Edison, Inc. (ED) announced a significant change in its Board of Directors with the election of Tali Farhadian Weinstein, effective July 1, 2026. This appointment brings new expertise to the company's governance, with Ms. Farhadian Weinstein being assigned to the Safety, Environment, Operations and Sustainability Committee and the Corporate Governance and Nominating Committee. Her involvement in these key committees suggests a focus on critical areas for the company's long-term strategy and stakeholder engagement. Investors should note that Ms. Farhadian Weinstein's compensation will align with the existing director compensation structure, as detailed in the company's 2026 proxy statement. Her background, including her role as a Trustee of the New York Public Library since 2018 and her upcoming appointment as CEO of the Museum of Jewish Heritage, indicates a strong commitment to public service and organizational leadership. This diverse experience may offer valuable perspectives as Con Edison navigates the evolving energy landscape.
  4. 8-KCONSOLIDATED EDISON INC 8-K Report, Corporate Update (Jun 3, 2026)Consolidated Edison Company of New York, Inc. (CECONY), a subsidiary of Consolidated Edison Inc. (ED), has announced the issuance of a significant amount of new debt through an underwriting agreement with several major financial institutions. This offering comprises $450 million in 5.15% Debentures, Series 2026 A due 2036, and $850 million in 5.875% Debentures, Series 2026 B due 2056, totaling $1.3 billion in aggregate principal amount. The issuance was registered under a Form S-3 filing effective in August 2024, indicating the company's proactive capital raising strategy and compliance with regulatory requirements. This debt issuance is a material event for investors, providing insights into CECONY's financing needs and capital structure. The varying interest rates and maturity dates reflect the company's approach to managing its debt obligations and its outlook on prevailing interest rate environments. Investors should monitor how these new debentures impact CECONY's leverage ratios, interest expense, and overall financial flexibility, particularly in relation to its ongoing infrastructure investments and operational requirements.
  5. 8-KCONSOLIDATED EDISON INC 8-K Report, Shareholder Vote Results (May 20, 2026)This 8-K filing reports on the outcomes of Consolidated Edison, Inc.'s (Con Edison) Annual Meeting of Stockholders held on May 18, 2026. The primary focus is on the voting results for the election of directors, the ratification of PricewaterhouseCoopers LLP as the independent auditor, and an advisory vote on executive compensation. All proposals presented to shareholders received strong support, indicating continued confidence in the company's leadership and financial oversight.
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04—See also

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