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Regulated electric, gas and steam utility serving New York City and Westchester County.
Regulated electric, gas and steam utility serving New York City and Westchester County.
Earns allowed returns set by the New York Public Service Commission, typically in multi-year rate plans that fix what customers pay in advance, so it earns on the grid and pipes it keeps investing in. Underground networks in dense Manhattan are costly to build and repair. It sold its renewable-energy business to RWE in 2023 to become mostly a regulated utility.
Moat: narrow (regulatory licence, scale). Sole regulated utility serving dense, high-value NYC territory under state rate regulation.
Headquarters: New York, US · Founded: 1823 · Employees: 15,407
Size Consolidated Edison (ED) is a United States Utilities company (Electric Utilities) with a market value of $43.7B, the 282nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $118.56 on 6 Nov 2026.
Performance Over six months the shares gained 12.5%, against +3.7% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 9.5% over the last twelve months (peer median +5.4%); the operating margin is 18.0% (peer median 22.7%).
Valuation It trades at 18.5× forward earnings against a peer median of 18.6× (10th cheapest of 21).
Capital Return on invested capital runs 1.2 points below its cost of capital (6.0% WACC).
Credit Consolidated Edison has 47 bonds outstanding ($25.6B), rated A- by the agencies and trading like A at a weighted spread of 81 bp.
Short interest Short interest is 3.4% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $17.7B | $16.9B | $15.3B | $14.6B | $15.7B |
| Revenue growth | — | +11% | +4% | -7% | — |
| Gross profit | $10.9B | $10.5B | $9.76B | $8.96B | $9.55B |
| EBITDA | $5.51B | $5.25B | $4.89B | $4.34B | $4.67B |
| Net income | $2.22B | $2.02B | $1.82B | $2.52B | $1.66B |
| Free cash flow | -$862M | $36.0M | -$1.16B | -$2.34B | -$233M |
| Capital expenditure | $4.82B | $4.76B | $4.77B | $4.49B | $4.17B |
| Total debt | $28.6B | $28.4B | $27.8B | $25.0B | $24.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Consolidated Edison ED | $43.7B | +12% | +10% | 18% | 18.5× | n/a |
| Eversource Energy ES | $26.3B | +6% | +8% | 22% | 14.3× | -8.6% |
| Public Service Enterprise PEG | $36.2B | -5% | +13% | 27% | 16.0× | n/a |
| National Grid NG..L | $84.5B | -2% | -4% | 29% | 13.8× | n/a |
| Exelon EXC | $47.2B | +5% | +7% | 20% | 15.2× | n/a |
| FirstEnergy FE | $26.9B | +5% | +12% | 19% | 16.1× | n/a |
| PPL PPL | $26.9B | 0% | +7% | 24% | 17.0× | n/a |
| Dominion Energy D | $60.3B | +12% | +23% | 29% | 18.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ED | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.9% | +8.2% | 4th highest of 21 |
| 6-month return | +12.5% | +3.7% | 3rd highest of 21 |
| Distance from 52-week high | -3.4% | -6.5% | 5th highest of 21 |
| Revenue growth (TTM) | +9.5% | +5.4% | 5th highest of 21 |
| Operating margin | 18.0% | 22.7% | 5th lowest of 21 |
| Forward P/E | 18.5× | 18.6× | 10th cheapest of 21 |
| ROIC minus cost of capital | -1.2 pp | -1.1 pp | 10th lowest of 21 |
| EV / EBITDA | 12.9× | 13.8× | 8th cheapest of 18 |
| Net debt / EBITDA | 4.9× | 4.9× | 9th most indebted of 18 |
| Bond spread | 81 bp | 82 bp | 5th tightest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Consolidated Edison ED | United States | $43.7B | +12% | +10% | 18% | 18.5× | n/a | n/a |
| Sse SSE.L | United Kingdom | $43.2B | +7% | +1% | 19% | 14.2× | n/a | n/a |
| Vistra VST | United States | $41.9B | -15% | +9% | 19% | 12.8× | 12.5% | +10.1% |
| Adani Power ADANIPOWER.NS | India | $41.6B | -11% | +8% | 23% | 29.4× | n/a | n/a |
| Exelon EXC | United States | $47.2B | +5% | +7% | 20% | 15.2× | n/a | n/a |
| WEC Energy WEC | United States | $38.1B | +5% | +8% | 25% | 21.6× | n/a | n/a |
| Rwe RWE.DE | Germany | $50.4B | +2% | -34% | 0% | 18.6× | n/a | n/a |
| Endesa ELE.MC | Spain | $51.0B | +21% | +6% | 17% | 18.4× | 0.5% | +4.7% |
| Xcel Energy XEL | United States | $51.1B | +1% | +4% | 22% | 18.1× | n/a | n/a |
| Public Service Enterprise PEG | United States | $36.2B | -5% | +13% | 27% | 16.0× | n/a | n/a |
| Entergy ETR | United States | $52.8B | -1% | +11% | 24% | 22.8× | n/a | n/a |
| E.on EOAN.DE | Germany | $55.9B | +4% | -8% | 7% | 17.5× | n/a | n/a |
| NTPC NTPC.NS | India | $33.2B | -19% | +7% | 20% | 12.3× | n/a | n/a |
| CGN Power 003816.SZ | China | $33.1B | +4% | -20% | 30% | 22.4× | n/a | n/a |
| Dominion Energy D | United States | $60.3B | +12% | +23% | 29% | 18.7× | n/a | n/a |
| Ameren AEE | United States | $31.2B | +4% | +4% | 25% | 20.0× | n/a | n/a |
| Fortis FTS.TO | Canada | $31.0B | +11% | +4% | 28% | 22.5× | n/a | n/a |
| Huaneng Lancang River Hydropower 600025.SS | China | $30.7B | +15% | +4% | 48% | 23.1× | 3.8% | +6.6% |
| China National Nuclear Power 601985.SS | China | $29.8B | +7% | -2% | 27% | 26.1× | n/a | n/a |
| Orsted ORSTED.CO | Denmark | $29.5B | -8% | +15% | 2% | 20.4× | n/a | n/a |
| PG&E PCG | United States | $28.6B | -19% | +4% | 20% | 7.4× | n/a | n/a |
Consolidated Edison has 47 bonds outstanding with $25.6B face value. The agencies rate it A-; its bonds trade like A. Weighted yield 5.87%, a spread of 81 bp over government bonds.