AMERICAN ELECTRIC POWER CO INC（AEP）の決算・業績分析
AMERICAN ELECTRIC POWER CO INCの2025年有価証券報告書をAI分析。売上高$21.7B(+8.7%)。営業利益$5.3B。Utilities。
目次
AMERICAN ELECTRIC POWER CO INCの2025年度 業績サマリー
AMERICAN ELECTRIC POWER CO INC（証券コード: AEP）の2025年度決算・業績分析。売上高は$21.7B（前年比+8.7%）。営業利益は$5.3B（前年比+23.6%）。純利益は$3.7B（前年比+24.2%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
AMERICAN ELECTRIC POWER CO INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 15.5% YoY to $19.4B (XBRL), driven by strong demand in core utility segments.
- Net income declined 7.3% YoY to $2.3B (XBRL), despite a 2.1% increase in operating income to $3.5B (XBRL).
- Leverage remains high with net debt at $37.3B (5.7x EBITDA) (XBRL) and a debt-to-equity ratio of 2.83x (XBRL).
AMERICAN ELECTRIC POWER CO INCの売上高変化の要因
- •Total revenue reached $19.4B (XBRL), reflecting a 15.5% YoY increase. Segment-specific revenue drivers are not disclosed in the provided data (XBRL). Historical revenue growth over five years averaged 3.7% CAGR (XBRL).
AMERICAN ELECTRIC POWER CO INCの営業利益変化の要因
- •Operating income increased 2.1% YoY to $3.5B (XBRL), with an operating margin of 18.0% (XBRL). Net income declined 7.3% YoY to $2.3B (XBRL), resulting in a net margin of 11.9% (XBRL). EBITDA totaled $6.6B (33.8% of revenue) (XBRL). Reasons for changes in profitability are not detailed in the data (XBRL).
AMERICAN ELECTRIC POWER CO INCの事業リスクと対応
Regulatory dependency limits cost recovery and earnings (10-K).
Inability to recover capital investment costs if regulators disapprove rate adjustments (10-K).
Risk of rate reductions if earnings exceed allowed returns (10-K).
Regulatory proceedings may disallow prudently incurred costs (10-K).
Public criticism could influence regulatory outcomes and increase oversight (10-K).
AMERICAN ELECTRIC POWER CO INCの今後の見通し・業績予想
AMERICAN ELECTRIC POWER CO INCの事業内容
AEP is a public utility holding company that generates revenue through electricity generation, transmission, and distribution via subsidiaries (10-K). Key segments include Transmission and Distribution Utilities, Vertically Integrated Utilities, and services provided by AEPSC (accounting, engineering, etc.) (10-K). The company serves retail customers and wholesale markets, including other utilities, rural cooperatives, and municipalities (10-K). Competitive advantages include extensive transmission networks, interconnections, and long-term regulatory relationships (10-K).
AMERICAN ELECTRIC POWER CO INCのAI業績分析レポート（2024年度）
Annual Report Analysis: American Electric Power Co Inc (AEP) FY2024
Highlights
Business Overview
AEP is a public utility holding company that generates revenue through electricity generation, transmission, and distribution via subsidiaries (10-K). Key segments include Transmission and Distribution Utilities, Vertically Integrated Utilities, and services provided by AEPSC (accounting, engineering, etc.) (10-K). The company serves retail customers and wholesale markets, including other utilities, rural cooperatives, and municipalities (10-K). Competitive advantages include extensive transmission networks, interconnections, and long-term regulatory relationships (10-K).
Revenue Analysis
Total revenue reached $19.4B (XBRL), reflecting a 15.5% YoY increase. Segment-specific revenue drivers are not disclosed in the provided data (XBRL). Historical revenue growth over five years averaged 3.7% CAGR (XBRL).
Profitability Analysis
Operating income increased 2.1% YoY to $3.5B (XBRL), with an operating margin of 18.0% (XBRL). Net income declined 7.3% YoY to $2.3B (XBRL), resulting in a net margin of 11.9% (XBRL). EBITDA totaled $6.6B (33.8% of revenue) (XBRL). Reasons for changes in profitability are not detailed in the data (XBRL).
Balance Sheet Analysis
Total assets grew from $68.8B (FY2020) to $103.1B (FY2025) (XBRL). Total equity increased from $19.6B (FY2020) to $26.9B (FY2025) (XBRL). Liquidity remains constrained with cash at $330M (XBRL) and a current ratio of 0.53x (XBRL). Long-term debt stands at $37.7B (XBRL), with net debt at $37.3B (5.7x EBITDA) (XBRL).
Cash Flow Analysis
Operating cash flow totaled $5.3B (XBRL), while free cash flow was negative at $-2.5B (XBRL). Investing cash flow was -$7.8B (XBRL), and financing cash flow was $2.6B (XBRL). Dividends paid amounted to $1.6B (XBRL). Capital expenditures and specific acquisitions/divestitures are not disclosed (XBRL).
Working Capital Analysis
Receivables days: 46 days (XBRL), Payables days: 38 days (XBRL), Asset turnover: 0.20x (XBRL). Inventory days and cash conversion cycle (CCC) are not available in the data (XBRL).
Risks
Outlook
No forward-looking guidance or specific trends are explicitly provided in the 10-K text (10-K).
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