EDISON INTERNATIONAL（EIX）の決算・業績分析
EDISON INTERNATIONALの2025年有価証券報告書をAI分析。売上高$19.3B(+9.8%)。営業利益$7.1B。Utilities。
目次
EDISON INTERNATIONALの2025年度 業績サマリー
EDISON INTERNATIONAL（証券コード: EIX）の2025年度決算・業績分析。売上高は$19.3B（前年比+9.8%）。営業利益は$7.1B（前年比+142.1%）。純利益は$4.5B（前年比+188.4%）。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。
EDISON INTERNATIONAL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 $17.2B (XBRL), driven by SCE's Track 4 authorized rate increases.
- Net income declined 10.9% YoY to $824M (XBRL), impacted by non-core wildfire claims and higher interest expenses.
- Debt levels remain elevated with net debt at $30.0B (7.3x EBITDA) and D/E ratio of 4.12x (XBRL).
- Free cash flow turned negative at -$2.6B (XBRL) due to $5.8B in CapEx, despite $3.2B operating cash flow.
- Working capital efficiency improved with a 12-day cash conversion cycle (CCC) (XBRL).
EDISON INTERNATIONALの売上高変化の要因
- •Total revenue reached $17.2B (+15.5% YoY) (XBRL), driven by higher authorized revenue in SCE's Track 4 and increased rate of return approvals (10-K). Segment-specific revenue data is not available in the XBRL or 10-K text (N/A). Historical trends show consistent growth, with revenue increasing from $12.7B in FY2020 to $17.2B in FY2024 (XBRL).
EDISON INTERNATIONALの営業利益変化の要因
- •Operating income rose slightly to $1.5B (+0.4% YoY) with an 8.6% operating margin (XBRL), but net income fell 10.9% YoY to $824M due to non-core wildfire-related charges and higher interest expenses (10-K). EBITDA remained strong at $4.1B (23.9%) (XBRL). Gross profit data is not available (N/A).
EDISON INTERNATIONALの事業リスクと対応
Liquidity and dividend payments depend on SCE's ability to access capital markets and pay dividends (10-K).
SCE's cost recovery and rate-of-return approvals require CPUC/FERC regulatory approvals (10-K).
Uninsured wildfire-related costs may not be recoverable from customers (10-K).
High debt levels ($30.3B LT Debt, 4.12x D/E) increase financial risk (XBRL).
Regulatory delays in electrification programs and rate-setting processes hinder strategic initiatives (10-K).
Competitive pressures from CCAs and self-generation may limit revenue growth (10-K).
EDISON INTERNATIONALの今後の見通し・業績予想
EDISON INTERNATIONALの事業内容
Edison International (EIX) operates as a regulated utility, generating revenue through electricity generation, transmission, and distribution in California via Southern California Edison Company (SCE) (10-K). Key offerings include electricity delivery to residential, commercial, and industrial customers, renewable energy solutions, and decommissioning services at the San Onofre nuclear plant (10-K). Competitive advantages include regulatory compliance (e.g., AB 1054 wildfire mitigation) and infrastructure investments (e.g., CSRP customer service system) (10-K). The company faces competition from community choice aggregators (CCAs) and other investor-owned utilities, though specific competitor names are not disclosed (N/A).
EDISON INTERNATIONALのAI業績分析レポート（2024年度）
Edison International (EIX) FY2024 Annual Report Analysis
Highlights
Business Overview
Edison International operates as a regulated utility, generating revenue through electricity generation, transmission, and distribution in California via Southern California Edison Company (SCE) (10-K). Key offerings include electricity delivery to residential, commercial, and industrial customers, renewable energy solutions, and decommissioning services at the San Onofre nuclear plant (10-K). Competitive advantages include regulatory compliance (e.g., AB 1054 wildfire mitigation) and infrastructure investments (e.g., CSRP customer service system) (10-K). The company faces competition from community choice aggregators (CCAs) and other investor-owned utilities, though specific competitor names are not disclosed (N/A).
Revenue Analysis
Total revenue reached $17.2B (+15.5% YoY) (XBRL), driven by higher authorized revenue in SCE's Track 4 and increased rate of return approvals (10-K). Segment-specific revenue data is not available in the XBRL or 10-K text (N/A). Historical trends show consistent growth, with revenue increasing from $12.7B in FY2020 to $17.2B in FY2024 (XBRL).
Profitability Analysis
Operating income rose slightly to $1.5B (+0.4% YoY) with an 8.6% operating margin (XBRL), but net income fell 10.9% YoY to $824M due to non-core wildfire-related charges and higher interest expenses (10-K). EBITDA remained strong at $4.1B (23.9%) (XBRL). Gross profit data is not available (N/A).
Balance Sheet Analysis
Equity ratio stands at 19.0% with total equity of $15.5B (XBRL), while long-term debt is $30.3B (XBRL), resulting in a D/E ratio of 4.12x. Current ratio is 0.79x (XBRL), indicating potential short-term liquidity challenges. Net debt is $30.0B (7.3x EBITDA) (XBRL), and cash reserves are $345M (XBRL).
Cash Flow Analysis
Operating cash flow was $3.2B (XBRL), but free cash flow turned negative at -$2.6B due to $5.8B in capital expenditures (XBRL). Dividends paid totaled $1.1B (XBRL), with no share repurchases conducted. CapEx intensity is 33.5% (XBRL), reflecting significant infrastructure investments.
Working Capital Analysis
Cash conversion cycle (CCC) is 12 days (XBRL), with receivables days at 43, inventory days at 11, and payables days at 42 (XBRL).
Risks
Outlook
Management highlights SCE's Track 4 revenue growth, implementation of the wildfire self-insurance program, and rising interest expenses as key trends impacting future results (10-K). No explicit forward-looking guidance is provided in the 10-K text (N/A).
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