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Regulated electric utility (Oklahoma Gas and Electric) serving Oklahoma and western Arkansas.
Regulated electric utility (Oklahoma Gas and Electric) serving Oklahoma and western Arkansas.
Oklahoma and Arkansas regulators set the rates OG&E may charge to cover costs and allow a return on invested capital, so earnings rise as it invests in plants and lines and wins approval to recover them. Until 2021 it also held a stake in a pipeline business, Enable Midstream, and has since exited it.
Moat: narrow (regulatory licence, scale). Regulated state monopoly territory under cost-of-service rate recovery.
Headquarters: Oklahoma City, Oklahoma, US · Founded: 1902 · Employees: 2,248
Size OGE Energy (OGE) is a United States Utilities company (Electric Utilities) with a market value of $10.5B, the 751st largest of 3,117 United States companies the cockpit tracks. Shares closed at $50.64 on 6 Nov 2026.
Performance Over six months the shares gained 7.0%, against -5.1% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 2.4% over the last twelve months (peer median +7.2%); the operating margin is 25.8% (peer median 13.6%).
Valuation It trades at 21.6× forward earnings against a peer median of 17.0× (4th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points below its cost of capital (6.6% WACC).
Credit OGE Energy has 14 bonds outstanding ($4.32B), rated A- by the agencies and trading like A- at a weighted spread of 78 bp.
Short interest Short interest is 5.8% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.37B | $3.26B | $2.99B | $2.67B | $3.38B |
| Revenue growth | — | +9% | +12% | -21% | — |
| Gross profit | $1.53B | $1.44B | $1.37B | $1.26B | $1.25B |
| EBITDA | $1.43B | $1.36B | $1.28B | $1.16B | $1.11B |
| Net income | $552M | $471M | $442M | $417M | $666M |
| Free cash flow | $209M | $82.7M | -$278M | $54.1M | -$208M |
| Capital expenditure | $1.07B | $1.05B | $1.09B | $1.18B | $1.05B |
| Total debt | $5.85B | $5.69B | $5.56B | $4.87B | $4.58B |
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 |
|---|---|---|---|---|---|---|
| OGE Energy OGE | $10.5B | +7% | +2% | 26% | 21.6× | 8.1% |
| Evergy EVRG | $20.2B | +8% | +4% | 26% | 19.4× | n/a |
| Xcel Energy XEL | $51.1B | +1% | +4% | 22% | 18.1× | n/a |
| American Electric Power AEP | $68.9B | -3% | +10% | 24% | 18.5× | 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 | OGE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.8% | +1.3% | 2nd highest of 21 |
| 6-month return | +7.0% | -5.1% | 4th highest of 21 |
| Distance from 52-week high | -1.9% | -15.9% | highest of 21 |
| Revenue growth (TTM) | +2.4% | +7.2% | 5th lowest of 21 |
| Operating margin | 25.8% | 13.6% | 6th highest of 21 |
| Forward P/E | 21.6× | 17.0× | 4th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 8.1% | 5.4% | 3rd most demanding of 9 |
| Growth delivered (Del g) | +9.0% | +7.3% | 5th highest of 9 |
| Hurdle (Req g minus delivered) | -0.9 pp | -1.1 pp | 5th least demanding of 9 |
| ROIC minus cost of capital | -0.4 pp | -1.9 pp | 6th highest of 20 |
| EV / EBITDA | 11.4× | 12.0× | 7th cheapest of 15 |
| Net debt / EBITDA | 4.1× | 6.8× | 4th least indebted of 16 |
| Bond spread | 78 bp | 86 bp | 2nd tightest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| OGE Energy OGE | United States | $10.5B | +7% | +2% | 26% | 21.6× | 8.1% | +9.0% |
| AES AES | United States | $10.6B | +4% | +12% | 20% | 6.8× | n/a | n/a |
| Jiangsu Eastern Shenghong 000301.SZ | China | $10.3B | -22% | +4% | 7% | 12.4× | -2.1% | +28.4% |
| Guangxi Guiguan Electric Power 600236.SS | China | $10.7B | -10% | +26% | 48% | 20.7× | -2.8% | +3.0% |
| Datang International Power Generation 0991.HK | Hong Kong | $10.7B | -20% | +3% | 15% | 5.5× | 4.0% | +4.1% |
| JSW Energy JSWENERGY.NS | India | $10.1B | -9% | +26% | 36% | 39.7× | n/a | n/a |
| Zhejiang Zheneng Electric Power 600023.SS | China | $10.8B | -5% | -7% | -1% | 17.4× | 7.0% | +9.0% |
| Hikari Tsushin 9435.T | Japan | $10.0B | -5% | +7% | 15% | 12.5× | 6.7% | +5.6% |
| Edison EDNR.MI | Italy | $9.87B | -12% | +6% | 3% | n/a | n/a | n/a |
| Chubu Electric Power 9502.T | Japan | $11.2B | -13% | +3% | 0% | 10.3× | n/a | n/a |
| Redeia Corporacion RED.MC | Spain | $9.47B | +8% | +15% | 43% | 16.7× | n/a | n/a |
| Brookfield Renewable Partners LP BEP-UN.TO | Canada | $9.41B | -7% | +7% | 11% | n/a | n/a | n/a |
| Tata Power TATAPOWER.NS | India | $11.9B | -20% | -4% | 13% | 25.0× | n/a | n/a |
| PGE Polska Grupa Energetyczna PGE.WA | Poland | $9.02B | +47% | -2% | 12% | 5.5× | n/a | n/a |
| Huadian Power International 1071.HK | Hong Kong | $8.73B | 0% | +13% | 8% | 9.6× | n/a | n/a |
| NHPC NHPC.NS | India | $8.72B | +1% | +12% | 30% | 19.4× | n/a | n/a |
| Pinnacle West Capital PNW | United States | $12.6B | +5% | +8% | 23% | 19.1× | n/a | n/a |
| IDACORP IDA | United States | $8.63B | +2% | +4% | 23% | 21.7× | n/a | n/a |
| A2A A2A.MI | Italy | $8.55B | +4% | +14% | 8% | 11.9× | 2.8% | +15.6% |
| Keppel BN4.SI | Singapore | $13.0B | -13% | +11% | 11% | 18.9× | 14.8% | -1.9% |
| Sichuan Chuantou Energy 600674.SS | China | $13.0B | +16% | -1% | 29% | 17.2× | 32.3% | +10.0% |
OGE Energy has 14 bonds outstanding with $4.32B face value. The agencies rate it A-; its bonds trade like A-. Weighted yield 5.78%, a spread of 78 bp over government bonds.