AEE · Ameren Corp · Financials

$106.08 +2.32 (+2.24%) At close · Oct 16

S&P 500 member Russell 1000 member Rebalance outlook locked

Market Cap

$29.07B

276.84M

Volume · Oct 16 1.94M Avg daily vol (3M) 1.69M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Pull these statements through the financial statements API or MCP →

Revenue

$8.8B +15.4%

FY2025

Net Income

$1.46B +23.1%

FY2025

Operating Margin

23.03% +3.1pp

FY2025

Diluted EPS

$5.35 +21%

FY2025

Operating Cash Flow

$3.35B +21.4%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Revenue	+3.4%	+8.7%	+3.7%	—	$8.75B	$8.8B	$7.62B	$7.5B	$7.96B	$6.39B	$5.79B	$5.91B	$6.29B	$6.17B	$6.08B	$6.1B	$6.05B	$5.84B	$5.78B	$6.15B	$7.64B	$7.14B	$7.87B	$7.56B
Amortization of Intangibles	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	$4M	$3M	$13M	—	—	—
Depreciation & Amortization	+5.5%	+6.9%	+7.6%	—	$1.66B	$1.61B	$1.52B	$1.43B	$1.37B	$1.22B	$1.15B	$1B	$938M	$876M	$835M	$777M	$710M	$666M	$633M	$602M	$746M	$708M	$705M	$735M
Total Operating Expenses	+1.7%	+8.5%	+3.4%	—	$6.57B	$6.77B	$6.11B	$5.94B	$6.44B	$5.06B	$4.49B	$4.64B	$4.93B	$4.76B	$4.75B	$4.84B	$4.8B	$4.65B	$4.59B	$5.12B	$6.72B	$5.72B	$6.51B	$6.2B
Operating Income	+10.2%	+9.3%	+4.9%	—	$2.18B	$2.03B	$1.52B	$1.56B	$1.52B	$1.33B	$1.3B	$1.27B	$1.36B	$1.41B	$1.32B	$1.26B	$1.25B	$1.18B	$1.19B	$1.03B	$916M	$1.42B	$1.36B	$1.36B
Operating Margin	—	—	—	—	—	23.03%	19.89%	20.77%	19.04%	20.85%	22.44%	21.44%	21.57%	22.84%	21.76%	20.65%	20.72%	20.28%	20.55%	16.8%	11.99%	19.85%	17.31%	17.97%
EBITDA	+8.0%	+8.2%	+6.0%	—	$3.84B	$3.64B	$3.04B	$2.99B	$2.89B	$2.55B	$2.45B	$2.27B	$2.3B	$2.29B	$2.16B	$2.04B	$1.96B	$1.85B	$1.82B	$1.64B	$1.66B	$2.12B	$2.07B	$2.09B
Interest Expense	+16.9%	+13.1%	+8.1%	—	$827M	$776M	$663M	$566M	$486M	$383M	$419M	$381M	$401M	$391M	$382M	$355M	$341M	$398M	$392M	$387M	$497M	$508M	$440M	$423M
Other Non-Operating Income	+15.4%	+18.1%	+22.9%	—	$374M	$347M	$417M	$348M	$226M	$202M	$151M	$130M	$102M	$86M	$101M	$44M	$57M	$43M	$33M	$45M	$57M	$48M	$49M	$50M
Gain on Sales of Real Estate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	$11M	$15M	$10M	—	—	—
Equity in Earnings of Unconsolidated Entities	—	—	—	—	$15M	-$19M	-$4M	$1M	$2M	$12M	$3M	—	—	—	—	—	—	—	—	—	—	—	—	—
Pretax Income	+8.4%	+9.1%	+5.4%	—	$1.72B	$1.6B	$1.27B	$1.34B	$1.26B	$1.15B	$1.03B	$1.02B	$1.06B	$1.11B	$1.04B	$948M	$970M	$829M	$829M	$691M	$476M	$956M	$971M	$986M
Income Tax	-8.2%	-2.6%	-9.4%	—	$155M	$136M	$83M	$183M	$176M	$157M	$155M	$182M	$237M	$576M	$382M	$363M	$377M	$311M	$307M	$254M	$325M	$332M	$327M	$330M
Net Income	+10.6%	+10.7%	+8.8%	—	$1.57B	$1.46B	$1.19B	$1.16B	$1.08B	$995M	$877M	$834M	$821M	$523M	$653M	$630M	$586M	$289M	-$974M	$519M	$139M	$612M	$605M	$618M
Net Margin	—	—	—	—	—	16.6%	15.57%	15.43%	13.56%	15.56%	15.14%	14.11%	13.05%	8.47%	10.75%	10.33%	9.68%	4.95%	-16.85%	8.44%	1.82%	8.58%	7.69%	8.17%
Net Income Attributable to Noncontrolling Interests	0.0%	-3.6%	—	—	$5M	$5M	$5M	$5M	$5M	$5M	$6M	$6M	$6M	$6M	$6M	—	—	—	—	$7M	$12M	$12M	$39M	$38M
Net Income Available to Common Stockholders	+10.7%	+10.8%	—	—	$1.56B	$1.46B	$1.18B	$1.15B	$1.07B	$990M	$871M	$828M	$815M	$523M	$653M	—	—	—	—	—	—	—	—	—
Comprehensive Income	+11.3%	+10.5%	+8.7%	—	$1.58B	$1.46B	$1.18B	$1.15B	$1.06B	$1B	$887M	$833M	$811M	$528M	$633M	$636M	$574M	$300M	-$932M	$486M	$135M	$594M	$575M	—
EPS (Basic) USD/shares	+9.0%	+8.8%	+7.5%	—	$5.72	$5.38	$4.43	$4.39	$4.16	$3.86	$3.53	$3.37	$3.34	$2.16	$2.69	$2.60	$2.42	$1.19	-$4.01	$2.15	—	—	—	—
EPS (Diluted) USD/shares	+8.9%	+8.9%	+7.5%	$5.25 – $5.45	$5.68	$5.35^G	$4.42^G	$4.38^G	$4.14^G	$3.84^G	$3.50^G	$3.35	$3.32	$2.14	$2.68	$2.59	$2.40	$1.18	-$4.01	$2.15	—	—	—	—
Shares Outstanding (Basic Avg) shares	+1.5%	+1.8%	+1.1%	—	—	270.5M	266.8M	262.8M	258.4M	256.3M	247M	245.6M	243.8M	242.6M	242.6M	242.6M	242.6M	242.6M	242.6M	241.5M	238.8M	220.4M	210.1M	207.4M
Shares Outstanding (Diluted Avg) shares	+1.6%	+1.8%	+1.1%	—	—	272.2M	267.4M	263.4M	259.5M	257.6M	248.7M	247.1M	245.8M	244.2M	243.4M	243.6M	244.4M	244.5M	243M	242.1M	—	—	—	—

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $75M in buybacks, $9.29B in dividends.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balance	As of	Amount	Source
Current portion of long-term debt	2026-06-30	USD 1,524,000,000	10-Q filed 2026-08-03
Noncurrent debt carrying amount	2026-06-30	USD 19,064,000,000	10-Q filed 2026-08-03
Short-term borrowings	2026-06-30	USD 1,220,000,000	10-Q filed 2026-08-03

Instrument and agreement coverage is incomplete. Additional filings are awaiting review.

4 filings have incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.

Covenants

Some sections could not be verified in 1 agreement document. Other restrictions or tests may apply.

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

5.00% Senior Notes due 2036

Note · Ameren Corporation

Reference: 5.00% Senior Notes due 2036

Active

Original principal: USD 400,000,000
Outstanding: —
Commitment: —
Availability: —
Maturity: —

Last reported interest terms: 5% Reported 2026-03-04 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history

Issuance · 8-K · 2026-03-04 — FORM 8-K

Issuance · 2026-03-04 Original principal USD 400,000,000 Exact source document Parent 8-K filing · 2026-03-04
On March 4, 2026, Ameren Corporation (“Ameren”) sold $400 million principal amount of its 5.00% Senior Notes due 2036 (the “Notes”). The Notes were offered pursuant to a Registration Statement on Form S-3 (File No. 333-274977), which became effective on October 13, 2023, and a Prospectus Supplement dated February 26, 2026, to a Prospectus dated October 13, 2023. Ameren received net offering proceeds of approximately $396.6 million, before expenses, upon closing of the transaction.

Issuer evidence: On March 4, 2026, Ameren Corporation (“Ameren”) sold $400 million principal amount of its 5.00% Senior Notes due 2036 (the “Notes”). The Notes were offered pursuant to a Registration Statement on Form S-3 (File No. 333-274977), which became effective on October 13, 2023, and a Prospectus Supplement dated February 26, 2026, to a Prospectus dated October 13, 2023. Ameren received net offering proceeds of approximately $396.6 million, before expenses, upon closing of the transaction.

Supporting evidence: On March 4, 2026, Ameren Corporation (“Ameren”) sold $400 million principal amount of its 5.00% Senior Notes due 2036 (the “Notes”).

Junior Subordinated Notes due 2057

Note · Ameren Corporation

Reference: Junior Subordinated Notes due 2057

Active

Original principal: USD 900,000,000
Outstanding: —
Commitment: —
Availability: —
Maturity: —

Covenant terms for this agreement are not yet verified.

Documents and filing history

Issuance · 8-K · 2026-09-18 — FORM 8-K

Issuance · 2026-09-18 Original principal USD 900,000,000 Exact source document Parent 8-K filing · 2026-09-18
On September 18, 2026, Ameren Corporation (“Ameren”) sold $900 million principal amount of its Junior Subordinated Notes due 2057 (the “Notes”). The Notes were offered pursuant to a Registration Statement on Form S-3 (File No. 333-297949), which became effective on August 4, 2026, and a Prospectus Supplement dated September 8, 2026, to a Prospectus dated August 4, 2026. Ameren received net offering proceeds of $891.0 million, before expenses, upon closing of the transaction.

Issuer evidence: On September 18, 2026, Ameren Corporation (“Ameren”) sold $900 million principal amount of its Junior Subordinated Notes due 2057 (the “Notes”).

Supporting evidence: On September 18, 2026, Ameren Corporation (“Ameren”) sold $900 million principal amount of its Junior Subordinated Notes due 2057 (the “Notes”).

Supporting evidence: On September 18, 2026, Ameren Corporation (“Ameren”) sold $900 million principal amount of its Junior Subordinated Notes due 2057 (the “Notes”).

5.50% First Mortgage Bonds due 2036

Note · Ameren Illinois Company

Reference: 5.50% First Mortgage Bonds due 2036

Active

Original principal: USD 400,000,000
Outstanding: —
Commitment: —
Availability: —
Maturity: —

Last reported interest terms: 5.5% Reported 2026-08-24 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history

Issuance · 8-K · 2026-08-24 — FORM 8-K

Issuance · 2026-08-24 Original principal USD 400,000,000 Exact source document Parent 8-K filing · 2026-08-24
On August 24, 2026, Ameren Illinois Company (“Ameren Illinois”), a subsidiary of Ameren Corporation, sold $400 million principal amount of its 5.50% First Mortgage Bonds due 2036 (the “Bonds”). The Bonds were offered pursuant to a Registration Statement on Form S-3 (File No. 333-297949-01), which became effective on August 4, 2026, and a Prospectus Supplement dated August 17, 2026, to a Prospectus dated August 4, 2026. Ameren Illinois received net offering proceeds of approximately $397.4 million, before expenses, upon closing of the transaction.

Issuer evidence: On August 24, 2026, Ameren Illinois Company (“Ameren Illinois”), a subsidiary of Ameren Corporation, sold $400 million principal amount of its 5.50% First Mortgage Bonds due 2036 (the “Bonds”).

Supporting evidence: On August 24, 2026, Ameren Illinois Company (“Ameren Illinois”), a subsidiary of Ameren Corporation, sold $400 million principal amount of its 5.50% First Mortgage Bonds due 2036 (the “Bonds”).

5.75% First Mortgage Bonds due 2056

Note · Union Electric Company

Reference: 5.75% First Mortgage Bonds due 2056

Active

Outstanding: —
Commitment: —
Availability: —
Maturity: —

Last reported interest terms: 5.75% Reported 2026-06-29 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history

SeriesInstrument · EX-4.2 · 2026-06-29 — EXHIBIT 4.2

Issuance · 2026-06-29 Exact source document Parent 8-K filing · 2026-06-29
Section 1. There is hereby created a new series of Bonds to be executed, authenticated and delivered under and secured by the Original Indenture which shall, subject to the provisions of Section 1 of Article II of the Original Indenture, be designated as “5.75% First Mortgage Bonds due 2056” (the “New Bonds”) of the Company. The New Bonds shall be executed, authenticated and delivered in accordance with the provisions of, and shall in all respects be subject to all of the terms, conditions and covenants of, the Original Indenture.

Issuer evidence: **SUPPLEMENTAL INDENTURE**, dated the 1st day of June, Two thousand and twenty-six (2026) made by and between UNION ELECTRIC COMPANY, a corporation organized and existing under the laws of the State of Missouri (hereinafter called the “Company”), party of the first part, and The Bank of New York Mellon, formerly The Bank of New York (successor trustee to Bank of America, National Association, formerly Boatmen’s Trust Company), a bank existing under the laws of the State of New York (hereinafter called the “Trustee”), as Trustee under the Indenture of Mortgage and Deed of Trust dated June 15, 1937, hereinafter mentioned, party of the second part:

Supporting evidence: Section 1. There is hereby created a new series of Bonds to be executed, authenticated and delivered under and secured by the Original Indenture which shall, subject to the provisions of Section 1 of Article II of the Original Indenture, be designated as “5.75% First Mortgage Bonds due 2056” (the “New Bonds”) of the Company. The New Bonds shall be executed, authenticated and delivered in accordance with the provisions of, and shall in all respects be subject to all of the terms, conditions and covenants of, the Original Indenture.

Supporting evidence: Section 1. There is hereby created a new series of Bonds to be executed, authenticated and delivered under and secured by the Original Indenture which shall, subject to the provisions of Section 1 of Article II of the Original Indenture, be designated as “5.75% First Mortgage Bonds due 2056” (the “New Bonds”) of the Company. The New Bonds shall be executed, authenticated and delivered in accordance with the provisions of, and shall in all respects be subject to all of the terms, conditions and covenants of, the Original Indenture.

5.75% First Mortgage Bonds due 2056

Note · Union Electric Company

Reference: 5.75% First Mortgage Bonds due 2056

Active

Original principal: USD 500,000,000
Outstanding: —
Commitment: —
Availability: —
Maturity: —

Last reported interest terms: 5.75% Reported 2026-06-29 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history

Issuance · 8-K · 2026-06-29 — FORM 8-K

Issuance · 2026-06-29 Original principal USD 500,000,000 Exact source document Parent 8-K filing · 2026-06-29
On June 29, 2026, Union Electric Company, doing business as Ameren Missouri (“Ameren Missouri”), a subsidiary of Ameren Corporation, sold $500 million principal amount of its 5.75% First Mortgage Bonds due 2056 (the “Bonds”).

Issuer evidence: On June 29, 2026, Union Electric Company, doing business as Ameren Missouri (“Ameren Missouri”), a subsidiary of Ameren Corporation, sold $500 million principal amount of its 5.75% First Mortgage Bonds due 2056 (the “Bonds”).

Supporting evidence: On June 29, 2026, Union Electric Company, doing business as Ameren Missouri (“Ameren Missouri”), a subsidiary of Ameren Corporation, sold $500 million principal amount of its 5.75% First Mortgage Bonds due 2056 (the “Bonds”).

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

5.67×

Peer median 4.86×

EV/EBIT

22.82×

Peer median 22.56×

P/E (TTM)

18.49×

Peer median 20.64×

Peer medians compare against the 27 similar-size Utilities - Regulated Electric companies (of 33 listed).

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Union Electric Company	$4,795,000,000	$3,993,000,000	$3,859,000,000	$4,046,000,000	$3,353,000,000	$3,109,000,000	$3,243,000,000	$3,589,000,000
Ameren Illinois Electric Distribution	$2,399,000,000	$2,089,000,000	$2,218,000,000	$2,256,000,000	$1,639,000,000	$1,498,000,000	$1,504,000,000	$1,547,000,000
Ameren Illinois Gas	$968,000,000	$938,000,000	$897,000,000	$1,180,000,000	$957,000,000	$760,000,000	$797,000,000	$815,000,000
Ameren Transmission	$862,000,000	$781,000,000	$677,000,000	$615,000,000	$562,000,000	$523,000,000	$464,000,000	$433,000,000
Other Segment	—	—	—	—	—	—	$0	$0

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Electricity	$7,668,000,000	$6,540,000,000	$6,439,000,000	$6,581,000,000	$5,297,000,000	$4,911,000,000	$4,981,000,000	$5,339,000,000
Natural Gas Reserves	$1,131,000,000	$1,083,000,000	$1,061,000,000	$1,376,000,000	$1,097,000,000	$883,000,000	$929,000,000	$952,000,000

Key facts CIK 1002910 CUSIP 023608102 13F (30d) 113 filings 109 filers Visit website Investor relations