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American Electric Power
AEPUtilitiesGenerated Sep 5, 2026, 01:36 PM UTC
AEP (American Electric Power) analytical snapshot. Revenue grew +10.9% YoY to $21.88B. 5-year revenue CAGR +5.4%; 10y CAGR +3.3%. Net margin at 16.90% (expanding ▲). Market cap $67.74B at $124.50 per share. Trailing P/E 18.69, P/S 3.10, P/B 2.13. EV/Operating income ≈ 21.99 (EV $116.99B). Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score -9 (data confidence 82%). Descriptive analytics from public filings — not investment advice.
Free SEC analysis
— computed from SEC filings, free to readFilings & Ownership
Latest annual report (10-K) filed Feb 12, 2026. Latest quarterly report (10-Q) filed Jul 30, 2026. 13 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 12, 2026.
- Latest quarterly report (10-Q) filed Jul 30, 2026.
- 13 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference American Electric Power; broad institutional reporting.
- Recent filers include ZOLA CAPITAL MANAGEMENT LLC, UNIZAN FINANCIAL SERVICES GROUP NATIONAL ASSOCIATION, ZOLA CAPITAL MANAGEMENT LLC.
- 20 recent 13G passive institutional ownership notices.
| Filer | Form | Filed |
|---|---|---|
| ZOLA CAPITAL MANAGEMENT LLC | 13F-HR | Nov 7, 2003 |
| UNIZAN FINANCIAL SERVICES GROUP NATIONAL ASSOCIATION | 13F-HR | Dec 6, 2002 |
| ZOLA CAPITAL MANAGEMENT LLC | 13F-HR | Jan 30, 2004 |
| UNIZAN FINANCIAL SERVICES GROUP NATIONAL ASSOCIATION | 13F-HR | Jan 22, 2003 |
| ROYAL BANK OF CANADA INVESTMENT MANAGEMENT (UK) LTD | 13F-HR | May 13, 2009 |
| Date | Form | Description |
|---|---|---|
| Jul 30, 2026 | 8-K | 8-K |
| Jul 21, 2026 | 8-K | 8-K |
| May 14, 2026 | 8-K | 8-K |
| May 5, 2026 | 8-K | 8-K |
| Apr 29, 2026 | 8-K | 8-K |
| Feb 17, 2026 | 8-K | 8-K |
| Feb 12, 2026 | 8-K | 8-K |
| Jan 8, 2026 | 8-K | 8-K |
SEC Filing Deep-Analysis
3 risk signal(s), 1 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Free cash flow deteriorating: FCF declined +45.5% YoY (from $6.41B to $3.49B). With OCF at $6.94B and capex at $3.45B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- Interest coverage deteriorating below 3x: Interest coverage fell from 3.08x to 2.94x. Operating income of $5.32B covers interest of $1.81B only 2.94x — approaching the threshold where debt service becomes constrained. Monitor for covenant breaches.
- NEW: Going concern doubt in latest filing: The term "going concern" "substantial doubt" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
- Operating cash flow exceeds net income: OCF is 1.88x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- NEW: Off-balance sheet arrangements: Off-balance sheet arrangements appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Endogenous analysis: The combination of explicit "going concern" language in the filing with deteriorating cash flow or rising leverage is a severe warning signal — the company's own auditors have flagged doubt about the ability to continue as a going concern.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Going concern doubt, Off-balance sheet arrangements.
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $19.72B | $21.88B | $2.15B | +10.9% |
| Operating income | $4.30B | $5.32B | $1.02B | +23.6% |
| Net income | $2.98B | $3.70B | $720.2M | +24.2% |
| Operating cash flow | $6.80B | $6.94B | $139.7M | +2.1% |
| Capex | $399.0M | $3.45B | $3.05B | +765.4% |
| Total assets | $103.08B | $114.46B | $11.38B | +11.0% |
| Total liabilities | $76.05B | $82.20B | $6.15B | +8.1% |
| Long-term debt | $42.64B | $47.32B | $4.68B | +11.0% |
| Cash & equivalents | $202.9M | $197.0M | $-5.9M | -2.9% |
| Stockholders equity | $26.94B | $31.14B | $4.19B | +15.6% |
| Accounts receivable | $2.63B | $2.87B | $235.1M | +8.9% |
| Interest expense | $1.40B | $1.81B | $410.8M | +29.4% |
| Type | Concepts |
|---|---|
| Added | ProceedsFromContributionInAidOfConstruction |
| Removed | AllocatedShareBasedCompensationExpense, AssetRetirementObligation, AssetRetirementObligationAccretionExpense, AssetRetirementObligationLiabilitiesIncurred, AssetRetirementObligationLiabilitiesSettled, AssetRetirementObligationRevisionOfEstimate, CurrentFederalTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DebtInstrumentCarryingAmount, DeferredFederalIncomeTaxExpenseBenefit |
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 1 | 0 | NEW |
| Impairment charge | medium | 5 | 8 | Ongoing |
| Restructuring | medium | 5 | 10 | Ongoing |
| Off-balance sheet arrangements | medium | 5 | 0 | NEW |
| Related party transactions | low | 5 | 4 | Ongoing |
Fundamentals
Revenue grew +10.9% YoY to $21.88B. 5-year revenue CAGR +5.4%; 10y CAGR +3.3%. Net margin at 16.90% (expanding ▲).
- Revenue grew +10.9% YoY to $21.88B.
- 5-year revenue CAGR +5.4%; 10y CAGR +3.3%.
- Net margin at 16.90% (expanding ▲).
- Return on equity 11.87%, ROA 3.23%, ROIC 6.78%.
- Gross margin 0.00%, operating margin 24.31%.
- Free cash flow margin 15.96% ($3.49B).
- Net income up ▲ +24.2% YoY.
- Debt/equity 1.56, current ratio 0.53, net debt $49.25B.
- Asset turnover 0.19 — capital efficiency.
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $19.72B | +3.9% | 0.00 | 21.82 | 15.09 | $6.41B | 11.04 |
| 2025 | $21.88B | +10.9% | 0.00 | 24.31 | 16.90 | $3.49B | 11.87 |
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Jun 30, 2024 | $4.58B | +4.7% | — | — |
| Sep 30, 2024 | $5.42B | +1.5% | +18.4% | 17.74% |
| Mar 31, 2025 | $5.46B | +8.7% | +0.8% | — |
| Jun 30, 2025 | $5.09B | +11.1% | -6.9% | — |
| Sep 30, 2025 | $6.01B | +10.9% | +18.2% | — |
| Mar 31, 2026 | $6.02B | +10.2% | +0.2% | — |
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Market cap $67.74B at $124.50 per share. Trailing P/E 18.69, P/S 3.10, P/B 2.13. EV/Operating income ≈ 21.99 (EV $116.99B).
- Market cap $67.74B at $124.50 per share.
Price & Technicals
Price $124.50 — downtrend (below 200-DMA); 1-month momentum negative. RSI(14) 41.30.
- Price $124.50 — downtrend (below 200-DMA); 1-month momentum negative.
Macro & Rates
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.77%.
- Market regime: Risk-on · Supportive.
Risk Scorecard
Composite risk Elevated. Leverage debt/equity 1.56 (moderate). Liquidity current ratio 0.53 (stretched).
- Composite risk: Elevated.
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3 sections free · 4 Pro previews · composite -9
Macro exposure
Rate-sensitive · High sensitivityMacro regime: Risk-on · Supportive. American Electric Power is a rate-sensitive name (high macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Analytical read
deterministic previewRevenue grew **+10.9%** YoY to $21.88B..
Peer comparison
Rate-sensitive groupHow AEP stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| CME Group Inc. CME | 32 | Neutral |
| Allstate Corp. ALL | 28 | Neutral |
| Mastercard Inc. MA | 27 | Neutral |
| Visa Inc. V | 24 | Neutral |
| Charles Schwab Corp. SCHW | 19 | Neutral |
| Capital One Financial COF | 19 | Neutral |
| Digital Realty Trust DLR | 11 | Neutral |
| U.S. Bancorp USB | 10 | Neutral |
| Simon Property Group SPG | 10 | Neutral |
| Chubb Ltd. CB | 8 | Neutral |
| Dominion Energy D | 8 | Neutral |
| Travelers Cos. TRV | 7 | Neutral |
| MetLife Inc. MET | 7 | Neutral |
| American Express Co. AXP | 5 | Neutral |
| Moody's Corp. MCO | 5 | Neutral |
| Welltower Inc. WELL | 5 | Neutral |
| JPMorgan Chase & Co. JPM | 4 | Neutral |
| Wells Fargo & Co. WFC | 1 | Neutral |
| PNC Financial Services PNC | 1 | Neutral |
| Truist Financial TFC | 1 | Neutral |
| Bank of America Corp. BAC | 0 | Neutral |
| Bank of New York Mellon BK | 0 | Neutral |
| Marsh & McLennan MMC | 0 | Neutral |
| Equity Residential EQR | 0 | Neutral |
| Citigroup Inc. C | -2 | Neutral |
| BlackRock Inc. BLK | -2 | Neutral |
| Prologis Inc. PLD | -2 | Neutral |
| Goldman Sachs Group GS | -4 | Neutral |
| American Tower Corp. AMT | -4 | Neutral |
| S&P Global SPGI | -5 | Neutral |
| American Water Works AWK | -8 | Neutral |
| Public Storage PSA | -9 | Neutral |
| American Electric Power AEP● you | -9 | Neutral |
| Equinix Inc. EQIX | -10 | Neutral |
| Morgan Stanley MS | -11 | Neutral |
| Realty Income Corp. O | -12 | Neutral |
| NextEra Energy NEE | -13 | Neutral |
| Duke Energy Corp. DUK | -14 | Neutral |
| Xcel Energy XEL | -17 | Neutral |
| Southern Company SO | -17 | Neutral |
| Exelon Corp. EXC | -19 | Neutral |
| Crown Castle Inc. CCI | -21 | Neutral |
| American International Group AIG | -23 | Neutral |