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Regulated electric utility serving Kansas and Missouri, formed from the 2018 merger of Westar Energy and KCP&L.
Regulated electric utility serving Kansas and Missouri, formed from the 2018 merger of Westar Energy and KCP&L.
Earns an allowed return, set by Kansas and Missouri regulators, on the value of the plants and wires it has built, and passes most fuel and purchased-power costs through to customers, so growth in its investment base drives earnings more than power sales. Activist investor Elliott pushed it in 2020 to cut costs and review its strategy.
Moat: narrow (regulatory licence, scale). Regulated state monopoly territories under cost-of-service rate recovery.
Headquarters: Kansas City, Missouri, US · Founded: 2018 · Employees: 4,691
Size Evergy (EVRG) is a United States Utilities company (Electric Utilities) with a market value of $20.2B, the 493rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $87.54 on 6 Nov 2026.
Performance Over six months the shares gained 7.9%, against +1.6% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 3.6% over the last twelve months (peer median +6.6%); the operating margin is 25.6% (peer median 19.5%).
Valuation It trades at 19.4× forward earnings against a peer median of 17.5× (8th most expensive of 20).
Capital Return on invested capital runs 1.9 points below its cost of capital (6.4% WACC).
Backlog Backlog (remaining performance obligations) was $8.70B at 31 Mar 2026 — 1.4 years of trailing revenue. Backlog detail →
Credit Evergy has 5 bonds outstanding ($3.41B), rated BBB by the agencies and trading like BBB at a weighted spread of 68 bp.
Short interest Short interest is 8.0% of the free float (15 Oct 2026).
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.04B | $5.92B | $5.82B | $5.49B | $5.86B |
| Revenue growth | — | +2% | +6% | -6% | — |
| Gross profit | $1.96B | $1.91B | $1.90B | $1.67B | $1.70B |
| EBITDA | $2.80B | $2.71B | $2.61B | $2.40B | $2.29B |
| Net income | $926M | $856M | $874M | $731M | $753M |
| Free cash flow | -$1.41B | -$752M | -$353M | -$354M | -$365M |
| Capital expenditure | $3.39B | $2.80B | $2.34B | $2.33B | $2.17B |
| Total debt | $16.5B | $15.4B | $14.2B | $13.3B | $12.2B |
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 |
|---|---|---|---|---|---|---|
| Evergy EVRG | $20.2B | +8% | +4% | 26% | 19.4× | n/a |
| Ameren AEE | $31.2B | +4% | +4% | 25% | 20.0× | n/a |
| CenterPoint Energy CNP | $27.0B | -2% | +8% | 24% | 19.9× | n/a |
| Xcel Energy XEL | $51.1B | +1% | +4% | 22% | 18.1× | 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 | EVRG | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.7% | +6.1% | 8th highest of 21 |
| 6-month return | +7.9% | +1.6% | 5th highest of 21 |
| Distance from 52-week high | -2.4% | -9.5% | 4th highest of 21 |
| Revenue growth (TTM) | +3.6% | +6.6% | 10th lowest of 21 |
| Operating margin | 25.6% | 19.5% | 6th highest of 21 |
| Forward P/E | 19.4× | 17.5× | 8th most expensive of 20 |
| ROIC minus cost of capital | -1.9 pp | -1.5 pp | 9th lowest of 21 |
| EV / EBITDA | 13.1× | 13.0× | 8th cheapest of 15 |
| Net debt / EBITDA | 5.9× | 5.2× | 7th most indebted of 18 |
| Bond spread | 68 bp | 81 bp | 3rd tightest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Evergy EVRG | United States | $20.2B | +8% | +4% | 26% | 19.4× | n/a | n/a |
| Uniper UN0.DE | Germany | $20.6B | 0% | -14% | -8% | 33.3× | 1.7% | +3.6% |
| SDIC Power 600886.SS | China | $19.0B | +16% | -3% | 32% | 17.5× | -1.6% | +6.5% |
| Adani Energy Solutions ADANIENSOL.NS | India | $18.9B | +5% | +33% | 25% | 37.4× | n/a | n/a |
| Alliant Energy LNT | United States | $18.8B | +1% | +5% | 23% | 20.8× | n/a | n/a |
| Cki 1038.HK | Hong Kong | $21.6B | +9% | -9% | -3% | 7.1× | -0.9% | -9.3% |
| CMS Energy CMS | United States | $21.7B | -5% | +8% | 20% | 17.1× | n/a | n/a |
| NRG Energy NRG | United States | $18.6B | -36% | +13% | 5% | 9.0× | 15.4% | +27.9% |
| Terna TRN.MI | Italy | $22.0B | -2% | +11% | 42% | 17.8× | n/a | n/a |
| Edison International EIX | United States | $22.8B | -14% | +3% | 27% | 9.2× | n/a | n/a |
| Power Assets 0006.HK | Hong Kong | $17.8B | +3% | -12% | 50% | 21.0× | 35.8% | -9.5% |
| Fortum FORTUM.HE | Finland | $23.3B | +15% | +14% | 17% | 23.4× | 9.2% | -36.7% |
| Kansai Electric Power 9503.T | Japan | $17.3B | +2% | +2% | 6% | 8.2× | 11.0% | +5.6% |
| ENBW Energie Baden-Wuerttemberg EBK.DE | Germany | $24.2B | -3% | +9% | 5% | n/a | 5.2% | +11.8% |
| Hydro One H.TO | Canada | $24.7B | -2% | +9% | 24% | 24.5× | n/a | n/a |
| Huaneng Power International 600011.SS | China | $16.4B | +9% | -5% | 9% | 13.5× | -2.1% | +6.2% |
| Power Grid Corporation of India POWERGRID.NS | India | $25.6B | -17% | +3% | 55% | 14.4× | n/a | n/a |
| Emera EMA.TO | Canada | $15.7B | 0% | +11% | 19% | 20.2× | n/a | n/a |
| Clp 0002.HK | Hong Kong | $26.1B | +7% | -2% | 16% | 17.9× | 1.6% | +2.0% |
| Eversource Energy ES | United States | $26.3B | +6% | +8% | 22% | 14.3× | -8.6% | +8.8% |
| FirstEnergy FE | United States | $26.9B | +5% | +12% | 19% | 16.1× | n/a | n/a |
Evergy has 5 bonds outstanding with $3.41B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.20%, a spread of 68 bp over government bonds.
Evergy reported $8.70B of remaining performance obligations at 31 Mar 2026. That is 1.4 years of trailing revenue already under contract.