EVERSOURCE ENERGY（ES）の決算・業績分析
EVERSOURCE ENERGYの2025年有価証券報告書をAI分析。売上高$13.5B(+14.3%)。営業利益$3.0B。Utilities。
目次
EVERSOURCE ENERGYの2025年度 業績サマリー
EVERSOURCE ENERGY（証券コード: ES）の2025年度決算・業績分析。売上高は$13.5B（前年比+14.3%）。営業利益は$3.0B（前年比+24.1%）。純利益は$1.7B（前年比+107.5%）。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。
EVERSOURCE ENERGY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 surged 25.0% YoY to $12.3B (XBRL), driven by rate base expansion and increased demand (10-K).
- Net income rose 15.0% YoY to $1.4B (XBRL), with operating income growing 10.3% to $2.2B (XBRL).
- Net debt/EBITDA ratio stands at 6.1x (XBRL), reflecting high leverage despite strong cash flow generation.
EVERSOURCE ENERGYの売上高変化の要因
- •Total revenue reached $12.3B in FY2024, a 25.0% YoY increase (XBRL). Growth was attributed to rate base expansion and demand increases (10-K). Segment-specific revenue figures are not disclosed in XBRL data (N/A). The historical time series shows revenue growth from $8.5B in FY2020 to $12.3B in FY2024, with a slight decline to $11.9B in FY2025 (XBRL).
EVERSOURCE ENERGYの営業利益変化の要因
- •Operating income rose 10.3% YoY to $2.2B (XBRL), with a 17.9% operating margin. Net income increased 15.0% YoY to $1.4B (XBRL), translating to an 11.5% net margin. EBITDA reached $3.8B (31.3% of revenue) (XBRL). Gross profit data is not available (N/A). The 10-K notes charges from offshore wind and Aquarion divestitures, but specific cost drivers are not quantified in XBRL data (10-K).
EVERSOURCE ENERGYの事業リスクと対応
Cybersecurity threats could disrupt operations and cause financial losses (10-K).
Regulatory, legislative, and compliance risks may impact earnings and liquidity (10-K).
Geopolitical risks related to increased cyberattacks due to global conflicts (10-K).
Charges from offshore wind and Aquarion divestitures may affect profitability (10-K).
EVERSOURCE ENERGYの今後の見通し・業績予想
EVERSOURCE ENERGYの事業内容
Eversource Energy operates as a regulated utility holding company, generating revenue through electricity and natural gas distribution, transmission, and water services in Connecticut, Massachusetts, and New Hampshire (10-K). Key segments include electric distribution, transmission, natural gas, and water (via Aquarion, pending sale). The company's competitive advantage lies in its regulated monopoly status, extensive infrastructure, and diversified service offerings across multiple states (10-K). Customer concentration is not significant, with revenue driven by rate-setting regulatory authorities (10-K).
EVERSOURCE ENERGYのAI業績分析レポート（2024年度）
Eversource Energy (ES) FY2024 Annual Report Analysis
Highlights
Business Overview
Eversource Energy operates as a regulated utility holding company, generating revenue through electricity and natural gas distribution, transmission, and water services in Connecticut, Massachusetts, and New Hampshire (10-K). Key segments include electric distribution, transmission, natural gas, and water (via Aquarion, pending sale). The company's competitive advantage lies in its regulated monopoly status, extensive infrastructure, and diversified service offerings across multiple states (10-K). Customer concentration is not significant, with revenue driven by rate-setting regulatory authorities (10-K).
Revenue Analysis
Total revenue reached $12.3B in FY2024, a 25.0% YoY increase (XBRL). Growth was attributed to rate base expansion and demand increases (10-K). Segment-specific revenue figures are not disclosed in XBRL data (N/A). The historical time series shows revenue growth from $8.5B in FY2020 to $12.3B in FY2024, with a slight decline to $11.9B in FY2025 (XBRL).
Profitability Analysis
Operating income rose 10.3% YoY to $2.2B (XBRL), with a 17.9% operating margin. Net income increased 15.0% YoY to $1.4B (XBRL), translating to an 11.5% net margin. EBITDA reached $3.8B (31.3% of revenue) (XBRL). Gross profit data is not available (N/A). The 10-K notes charges from offshore wind and Aquarion divestitures, but specific cost drivers are not quantified in XBRL data (10-K).
Balance Sheet Analysis
Total assets grew to $55.6B in FY2024 (XBRL), with equity at $14.6B (equity ratio: 26.2%) (XBRL). Long-term debt reached $23.6B (XBRL), resulting in net debt of $23.5B (6.1x EBITDA) (XBRL). Cash balances remain low at $54M (XBRL). The current ratio of 0.67x (XBRL) suggests potential liquidity constraints.
Cash Flow Analysis
Operating cash flow totaled $2.4B (XBRL), but free cash flow was negative $1.0B due to $3.4B in capital expenditures (XBRL). Dividends paid amounted to $860M (XBRL), with a payout ratio of 60.9% (XBRL). CapEx intensity was 28.1% (XBRL), and the CapEx/D&A ratio was 2.09x (XBRL).
Working Capital Analysis
Receivables days: 43 days (XBRL); Payables days: 56 days (XBRL). Asset turnover was 0.22x (XBRL). No data available for inventory days or cash conversion cycle (N/A).
Risks
Outlook
Management projects 2025 EPS between $4.67 and $4.82 (10-K), with 5–7% long-term EPS growth through 2029. Key trends include rate base expansion and the ongoing impact of offshore wind and Aquarion divestitures (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 8.5B | 8.4B | 8.8B | 9.8B | 12.3B | 11.9B |
| Operating Income | 1.7B | 1.6B | 2.0B | 2.0B | 2.2B | 2.4B |
| Net Income | 1.0B | 917M | 1.2B | 1.2B | 1.4B | -435M |
| Total Assets | 41.1B | 46.1B | 48.5B | 53.2B | 55.6B | 59.6B |
| Total Equity | 11.1B | 11.5B | 12.6B | 14.1B | 14.6B | 15.5B |
| Operating Cash Flow | 1.8B | 2.0B | 1.7B | 2.0B | 2.4B | 1.6B |
Utilitiesの企業一覧
EVERSOURCE ENERGYと同じ「Utilities」セクターの企業