Balance Sheet Ameren Corporation

Stocks

AEE

US0236081024

Multiline Utilities

Real-time Estimate Cboe BZX Other stock markets 15:15:34 22/07/2026 BST			5-day change	1st Jan Change
111.73 ^USD	+1.63%		-0.31%	+11.20%

12:17pm	BMO Capital Adjusts Price Target on Ameren to $119 From $121, Maintains Outperform Rating	MT
12:15pm	Morgan Stanley Adjusts Price Target on Ameren to $118 From $115, Maintains Equalweight Rating	MT

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Published financial data: AMEREN CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues - (Utility Template)	6.12B	7.66B	7.21B	7.32B	8.47B
Total Revenues	6.12B	7.66B	7.21B	7.32B	8.47B
Fuel & Purchased Power	1.19B	2.02B	1.81B	1.68B	2.31B
Operations And Maintenance	1.77B	1.94B	1.87B	1.97B	1.97B
Depreciation & Amortization - (IS) - (Collected)	1.15B	1.29B	1.39B	1.59B	1.57B
Other Operating Expenses	543M	717M	295M	264M	349M
Total Operating Expenses	4.65B	5.96B	5.36B	5.5B	6.2B
Operating Income (REIT / Utility Template)	1.47B	1.7B	1.85B	1.82B	2.27B
Interest Expense, Total	-383M	-486M	-566M	-663M	-776M
Interest and Investment Income	27M	35M	33M	41M	41M
Net Interest Expenses	-356M	-451M	-533M	-622M	-735M
Income (Loss) on Equity Invest.	-	2M	1M	-4M	-19M
Allowance For Equity Funds Used During Construction	43M	43M	54M	76M	88M
Other Non Operating Income (Expenses)	-4M	-38M	-35M	-16M	-18M
EBT, Excl. Unusual Items	1.15B	1.26B	1.34B	1.25B	1.59B
Other Unusual Items	-	-	-	16M	8M
EBT, Incl. Unusual Items	1.15B	1.26B	1.34B	1.27B	1.6B
Income Tax Expense	157M	176M	183M	83M	136M
Earnings From Continuing Operations	995M	1.08B	1.16B	1.19B	1.46B
Net Income to Company	995M	1.08B	1.16B	1.19B	1.46B
Minority Interest	-5M	-5M	-5M	-5M	-5M
Net Income - (IS)	990M	1.07B	1.15B	1.18B	1.46B
Net Income to Common Incl Extra Items	990M	1.07B	1.15B	1.18B	1.46B
Net Income to Common Excl. Extra Items	990M	1.07B	1.15B	1.18B	1.46B
Per Share Items
Net EPS - Basic	3.86	4.16	4.38	4.43	5.38
Basic EPS - Continuing Operations	3.86	4.16	4.38	4.43	5.38
Basic Weighted Average Shares Outstanding	256M	258M	263M	267M	270M
Net EPS - Diluted	3.84	4.14	4.38	4.42	5.35
Diluted EPS - Continuing Operations	3.84	4.14	4.38	4.42	5.35
Diluted Weighted Average Shares Outstanding	258M	260M	263M	267M	272M
Normalized Basic EPS	2.79	3.02	3.17	2.92	3.65
Normalized Diluted EPS	2.78	3	3.16	2.91	3.63
Dividend Per Share	2.2	2.36	2.52	2.68	2.84
Payout Ratio	57.07	56.8	57.47	60.41	52.75
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
Utility Revenues	6.39B	7.96B	7.5B	7.62B	8.8B
EBITDA	2.62B	2.98B	3.14B	3.2B	3.72B
EBITA	1.47B	1.7B	1.85B	1.82B	2.27B
EBIT	1.47B	1.7B	1.85B	1.82B	2.27B
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	6.39B	7.96B	7.5B	7.62B	8.8B
Effective Tax Rate - (Ratio)	13.63	14.02	13.66	6.54	8.52
Current Domestic Taxes	1M	6M	-46M	-44M	-117M
Total Current Taxes	1M	6M	-46M	-44M	-117M
Deferred Domestic Taxes	156M	170M	229M	127M	253M
Total Deferred Taxes	156M	170M	229M	127M	253M
Normalized Net Income	715M	779M	832M	779M	988M
Interest Capitalized	17M	26M	48M	56M	52M
Non-Cash Pension Expense	-72M	-132M	-227M	-172M	-103M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	22M	24M	26M	28M	28M
Total Stock-Based Compensation	22M	24M	26M	28M	28M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	8M	10M	25M	7M	13M
Short Term Investments - (Utility / Insurance Templates)	-	240M	-	-	-
Accounts Receivable, Total	735M	1.05B	813M	871M	1.08B
Other Receivables	85M	54M	106M	96M	107M
Accounts Receivable (Summary Subtotal)	820M	1.1B	919M	967M	1.19B
Inventory - (Utility Template)	592M	667M	733M	762M	774M
Assets Of Discontinued Operations Current	-	-	-	-	-
Restricted Cash	16M	13M	13M	15M	63M
Other Current Assets, Total	532M	638M	491M	513M	534M
Total Current Assets	1.97B	2.67B	2.18B	2.26B	2.57B
Gross Property Plant And Equipment	43.48B	45.73B	49.2B	52.87B	55.96B
Accumulated Depreciation	-14.21B	-14.46B	-15.43B	-16.5B	-16.57B
Net Property Plant And Equipment	29.26B	31.26B	33.78B	36.38B	39.39B
Regulatory Assets	1.29B	1.43B	1.81B	2.4B	2.52B
Goodwill	411M	411M	411M	411M	411M
Long-Term Investments - (Utility Template)	304M	308M	73M	74M	64M
Other Long-Term Assets, Total	2.5B	1.83B	2.58B	3.08B	3.52B
Total Assets	35.74B	37.9B	40.83B	44.6B	48.48B
Liabilities
Accounts Payable, Total	1.1B	1.16B	1.14B	1.06B	1.25B
Accrued Expenses, Total	125M	3M	2M	198M	231M
Short-Term Borrowings	545M	1.07B	536M	1.14B	643M
Current Portion of Long-Term Debt	505M	340M	849M	317M	973M
Current Portion of Leases	-	-	-	8M	3M
Current Income Taxes Payable	-	-	-	-	-
Other Current Liabilities - (Bank / Utility Template)	556M	794M	822M	688M	803M
Total Current Liabilities	2.83B	3.37B	3.34B	3.41B	3.91B
Long-Term Debt	12.56B	13.68B	15.12B	17.26B	18.21B
Long-Term Leases	-	-	-	64M	73M
Pension & Other Post Retirement Benefits	37M	31M	28M	21M	21M
Deferred Tax Liability Non-Current	3.5B	3.8B	4.18B	4.47B	5.18B
Other Non Current Liabilities, Total	6.98B	6.38B	6.68B	7.12B	7.55B
Total Liabilities	25.91B	27.27B	29.35B	32.36B	34.95B
Common Stock, Total	3M	3M	3M	3M	3M
Additional Paid In Capital	6.5B	6.86B	7.22B	7.51B	8.11B
Retained Earnings	3.18B	3.65B	4.14B	4.6B	5.29B
Comprehensive Income and Other	13M	-1M	-6M	-6M	-
Total Common Equity	9.7B	10.51B	11.35B	12.11B	13.4B
Minority Interest	129M	129M	129M	129M	129M
Total Equity	9.83B	10.64B	11.48B	12.24B	13.53B
Total Liabilities And Equity	35.74B	37.9B	40.83B	44.6B	48.48B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	258M	262M	266M	270M	276M
ECS Total Common Shares Outstanding	258M	262M	266M	270M	276M
Book Value / Share	37.64	40.11	42.62	44.88	48.48
Tangible Book Value	9.29B	10.1B	10.94B	11.7B	12.99B
Tangible Book Value Per Share	36.04	38.54	41.07	43.36	47
Total Debt	13.61B	15.1B	16.51B	18.79B	19.91B
Net Debt	13.6B	14.84B	16.48B	18.79B	19.89B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-288M	34M	-14M	-48M	-163M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	129M	129M	129M	129M	129M
Equity Method Investments, Total	56M	68M	73M	74M	64M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	493M	537M	638M	671M	676M
Inventories - Finished Goods, Total	99M	130M	95M	91M	98M
Inventories - Others	-	-	-	-	-
Machinery, Total	35B	36.35B	38.73B	41.14B	49.29B
Full Time Employees	9.12K	9.24K	9.37K	8.98K	8.91K
Accumulated Allowance for Doubtful Accounts (Supple)	29M	31M	30M	30M	39M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	990M	1.07B	1.15B	1.18B	1.46B
Depreciation, Depletion & Amortization	1.15B	1.28B	1.29B	1.38B	1.45B
Total Depreciation, Depletion & Amortization	1.15B	1.28B	1.29B	1.38B	1.45B
Amortization of Deferred Charges, Total	148M	180M	228M	243M	241M
Stock-Based Compensation (CF)	22M	24M	26M	28M	28M
Change in Accounts Receivable	-74M	-317M	144M	-91M	-272M
Change In Inventories	-71M	-77M	-67M	-31M	-12M
Change in Accounts Payable	28M	136M	-104M	4M	42M
Change In Income Taxes	1M	-13M	-4M	34M	190M
Change in Other Net Operating Assets (Collected)	-672M	-223M	-295M	-130M	1M
Other Operating Activities	137M	200M	196M	143M	233M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	1.66B	2.26B	2.56B	2.76B	3.35B
Capital Expenditure	-3.48B	-3.35B	-3.6B	-4.32B	-4.13B
Nuclear Fuel Expenditures	-44M	-29M	-174M	-91M	-46M
Contributions to Nuclear Decommissioning Trust	-452M	-229M	-266M	-584M	-440M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	447M	239M	239M	538M	469M
Cash from Investing	-3.53B	-3.37B	-3.8B	-4.46B	-4.14B
Short Term Debt Issued, Total	55M	522M	-	607M	-
Long-Term Debt Issued, Total	2B	1.47B	2.3B	2.54B	1.96B
Total Debt Issued	2.05B	1.99B	2.3B	3.14B	1.96B
Short Term Debt Repaid, Total	-	-	-533M	-	-499M
Long-Term Debt Repaid, Total	-8M	-505M	-100M	-893M	-341M
Total Debt Repaid	-8M	-505M	-633M	-893M	-840M
Issuance of Common Stock	308M	333M	346M	273M	574M
Repurchase of Common Stock	-17M	-16M	-20M	-8M	-13M
Common Dividends Paid	-565M	-610M	-662M	-714M	-768M
Common & Preferred Stock Dividends Paid	-565M	-610M	-662M	-714M	-768M
Other Financing Activities, Total	-49M	-23M	-36M	-51M	-29M
Cash from Financing	1.72B	1.17B	1.29B	1.75B	884M
Net Change in Cash	-146M	61M	56M	56M	92M
Supplemental Items
Cash Interest Paid	426M	476M	546M	611M	755M
Cash Income Tax Paid (Refund)	-1M	-8M	-24M	-92M	-312M
Net Debt Issued / Repaid	2.04B	1.48B	1.66B	2.25B	1.12B
Levered Free Cash Flow	-1.87B	-1.42B	-1.16B	-2.15B	-1.48B
Unlevered Free Cash Flow	-1.66B	-1.14B	-821M	-1.76B	-1.02B
Change In Net Working Capital	352M	286M	-266M	116M	-39M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.71	2.88	2.94	2.66	3.05
Return on Total Capital	4.16	4.32	4.31	3.85	4.41
Return On Equity %	10.52	10.54	10.46	10.01	11.34
Return on Common Equity	10.62	10.63	10.54	10.08	11.41
Margin Analysis
Gross Profit Margin %	48.88	43.63	48.07	49.88	49.24
SG&A Margin	-2.22	-2.4	-4.09	-4.15	-2.92
EBITDA Margin %	42.83	38.87	43.55	43.71	43.91
EBITA Margin %	24.01	22.17	25.69	24.85	26.84
EBIT Margin %	24.01	22.17	25.69	24.85	26.84
Income From Continuing Operations Margin %	16.26	14.08	16.04	16.21	17.25
Net Income Margin %	16.18	14.02	15.97	16.14	17.19
Net Avail. For Common Margin %	16.18	14.02	15.97	16.14	17.19
Normalized Net Income Margin	11.68	10.17	11.54	10.63	11.67
Levered Free Cash Flow Margin	-30.63	-18.6	-16.06	-29.37	-17.52
Unlevered Free Cash Flow Margin	-27.09	-14.91	-11.38	-23.97	-12.02
Asset Turnover
Asset Turnover	0.18	0.21	0.18	0.17	0.18
Fixed Assets Turnover	0.22	0.25	0.22	0.21	0.22
Receivables Turnover (Average Receivables)	8.62	8.6	7.76	8.7	8.68
Inventory Turnover (Average Inventory)	5.62	6.86	5.35	4.91	5.6
Short Term Liquidity
Current Ratio	0.7	0.79	0.65	0.66	0.66
Quick Ratio	0.29	0.4	0.28	0.29	0.31
Operating Cash Flow to Current Liabilities	0.59	0.67	0.77	0.81	0.86
Days Sales Outstanding (Average Receivables)	42.32	42.42	47.04	42.08	42.04
Days Outstanding Inventory (Average Inventory)	64.94	53.2	68.21	74.53	65.21
Average Days Payable Outstanding	117.12	93.62	109.87	108.56	97.92
Cash Conversion Cycle (Average Days)	-9.86	2	5.37	8.04	9.33
Long Term Solvency
Total Debt/Equity	138.49	141.91	143.81	153.51	147.12
Total Debt / Total Capital	58.07	58.66	58.98	60.55	59.53
LT Debt/Equity	127.81	128.65	131.74	141.52	135.16
Long-Term Debt / Total Capital	53.59	53.18	54.03	55.82	54.69
Total Liabilities / Total Assets	72.49	71.94	71.89	72.55	72.09
EBIT / Interest Expense	3.84	3.5	3.27	2.75	2.93
EBITDA / Interest Expense	6.84	6.13	5.55	4.83	4.79
(EBITDA - Capex) / Interest Expense	-2.36	-0.83	-1.11	-1.82	-0.59
Total Debt / EBITDA	5.19	5.07	5.26	5.87	5.35
Net Debt / EBITDA	5.19	4.98	5.25	5.87	5.35
Total Debt / (EBITDA - Capex)	-15.09	-37.55	-26.2	-15.55	-43.75
Net Debt / (EBITDA - Capex)	-15.08	-36.93	-26.16	-15.54	-43.72
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	10.45	25.22	-5.86	1.54	15.65
Gross Profit, 1 Yr. Growth %	4.65	11.77	3.71	5.36	12.37
EBITDA, 1 Yr. Growth %	5.86	13.62	5.47	1.91	14.08
EBITA, 1 Yr. Growth %	3.74	15.66	9.06	-1.78	20.97
EBIT, 1 Yr. Growth %	3.74	15.66	9.06	-1.78	20.97
Earnings From Cont. Operations, 1 Yr. Growth %	13.45	8.44	7.23	2.59	23.08
Net Income, 1 Yr. Growth %	13.66	8.48	7.26	2.6	23.18
Diluted EPS Before Extra, 1 Yr. Growth %	9.71	7.81	5.8	0.91	21.04
Normalized Net Income, 1 Yr. Growth %	11.89	9	6.82	-6.46	21.15
Net Property, Plant and Equip., 1 Yr. Growth %	9.15	6.84	8.04	7.7	8.28
Inventory, 1 Yr. Growth %	13.63	12.67	9.9	3.96	1.57
Accounts Receivable, 1 Yr. Growth %	7.46	42.31	-22.28	7.13	24
Total Assets, 1 Yr. Growth %	11.57	6.07	7.72	9.23	8.7
Tangible Book Value, 1 Yr. Growth %	8.94	8.7	8.33	6.99	11
Cash From Operations, 1 Yr. Growth %	-3.82	36.24	13.3	7.76	21.35
Capital Expenditures, 1 Yr. Growth %	6.79	-4.06	11.57	16.95	-5.35
Levered Free Cash Flow, 1 Yr. Growth %	23.32	-23.65	-18.69	85.64	-29.68
Unlevered Free Cash Flow, 1 Yr. Growth %	29.52	-30.78	-28.13	113.86	-40.64
Dividend Per Share, 1 Yr. Growth %	10	7.27	6.78	6.35	5.97
Common Equity, 1 Yr. Growth %	8.53	8.33	8	6.74	10.62
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.1	17.6	8.57	-2.23	8.36
Gross Profit, 2 Yr. CAGR %	4.42	8.15	7.66	4.53	9.68
EBITDA, 2 Yr. CAGR %	5.38	9.67	9.47	3.68	8.81
EBITA, 2 Yr. CAGR %	4.04	9.54	12.31	3.5	10.75
EBIT, 2 Yr. CAGR %	4.04	9.54	12.31	3.5	10.75
Earnings From Cont. Operations, 2 Yr. CAGR %	9.23	10.92	7.83	4.89	12.37
Net Income, 2 Yr. CAGR %	9.35	11.04	7.87	4.91	12.42
Diluted EPS Before Extra, 2 Yr. CAGR %	7.06	8.76	6.8	3.33	10.52
Normalized Net Income, 2 Yr. CAGR %	6.62	10.44	7.9	-0.04	8.95
Net Property, Plant and Equip., 2 Yr. CAGR %	9.56	7.99	7.44	7.87	7.99
Inventory, 2 Yr. CAGR %	9.47	13.15	11.27	6.88	2.76
Accounts Receivable, 2 Yr. CAGR %	4.66	23.66	5.17	-8.75	15.26
Total Assets, 2 Yr. CAGR %	11.13	8.78	6.89	8.47	8.96
Common Equity, 2 Yr. CAGR %	9.71	8.43	8.17	7.37	8.66
Tangible Book Value, 2 Yr. CAGR %	10.21	8.82	8.51	7.66	8.98
Cash From Operations, 2 Yr. CAGR %	-12.51	14.47	24.24	10.5	14.36
Capital Expenditures, 2 Yr. CAGR %	20.11	1.22	3.46	14.22	5.21
Levered Free Cash Flow, 2 Yr. CAGR %	94.19	-3.18	-21.21	22.86	13.19
Unlevered Free Cash Flow, 2 Yr. CAGR %	144.26	-5.54	-29.46	23.98	11.38
Dividend Per Share, 2 Yr. CAGR %	7.04	8.63	7.03	6.56	6.16
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.61	10.71	9.19	6.18	3.4
Gross Profit, 3 Yr. CAGR %	2.28	6.82	6.65	6.89	7.66
EBITDA, 3 Yr. CAGR %	3.14	8.06	8.25	6.89	7.69
EBITA, 3 Yr. CAGR %	0.97	7.78	9.38	7.4	10.19
EBIT, 3 Yr. CAGR %	0.97	7.78	9.38	7.4	10.19
Earnings From Cont. Operations, 3 Yr. CAGR %	6.62	8.96	9.68	6.06	10.63
Net Income, 3 Yr. CAGR %	6.7	9.06	9.77	6.09	10.68
Diluted EPS Before Extra, 3 Yr. CAGR %	4.97	7.31	7.76	4.8	8.92
Normalized Net Income, 3 Yr. CAGR %	2.95	7.41	9.22	2.89	8.23
Net Property, Plant and Equip., 3 Yr. CAGR %	8.66	8.65	8.01	7.52	8.01
Inventory, 3 Yr. CAGR %	7.02	10.53	12.05	8.78	5.08
Accounts Receivable, 3 Yr. CAGR %	-1.02	15.95	5.93	5.82	1.07
Total Assets, 3 Yr. CAGR %	9.5	9.42	8.43	7.66	8.55
Common Equity, 3 Yr. CAGR %	8.33	9.25	8.29	7.69	8.44
Tangible Book Value, 3 Yr. CAGR %	8.76	9.7	8.65	8	8.76
Cash From Operations, 3 Yr. CAGR %	-8.52	1.41	14.08	18.49	14
Capital Expenditures, 3 Yr. CAGR %	14.65	11.44	4.56	7.77	7.29
Levered Free Cash Flow, 3 Yr. CAGR %	42.79	42.06	-8.65	4.85	1.37
Unlevered Free Cash Flow, 3 Yr. CAGR %	58.91	60.18	-13.76	2.09	-3.75
Dividend Per Share, 3 Yr. CAGR %	5.99	7.12	8.01	6.8	6.37
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.02	5.33	3.72	5.34	8.86
Gross Profit, 5 Yr. CAGR %	2.57	3.73	4.4	5.9	7.85
EBITDA, 5 Yr. CAGR %	3.11	4.87	5.63	6.29	8.48
EBITA, 5 Yr. CAGR %	1.29	3.16	5.36	6.05	9.93
EBIT, 5 Yr. CAGR %	1.29	3.16	5.36	6.05	9.93
Earnings From Cont. Operations, 5 Yr. CAGR %	8.59	15.32	7.1	7.31	10.75
Net Income, 5 Yr. CAGR %	8.68	15.48	7.17	7.38	10.82
Diluted EPS Before Extra, 5 Yr. CAGR %	7.46	14.11	5.7	5.7	8.86
Normalized Net Income, 5 Yr. CAGR %	2.09	2.63	4.9	4.36	9.11
Net Property, Plant and Equip., 5 Yr. CAGR %	7.79	7.81	8.17	8.34	8
Inventory, 5 Yr. CAGR %	2.35	5.02	8.7	9.06	8.24
Accounts Receivable, 5 Yr. CAGR %	0.08	6.37	1.41	5.36	9.57
Total Assets, 5 Yr. CAGR %	7.67	7.88	8.45	9.04	8.64
Common Equity, 5 Yr. CAGR %	6.43	7.9	8.26	8.49	8.44
Tangible Book Value, 5 Yr. CAGR %	6.78	8.31	8.66	8.88	8.78
Cash From Operations, 5 Yr. CAGR %	-4.74	1.33	3.39	4.95	14.19
Capital Expenditures, 5 Yr. CAGR %	10.58	9.02	10.03	12.55	4.82
Levered Free Cash Flow, 5 Yr. CAGR %	32.01	30.42	12.47	34.05	-0.47
Unlevered Free Cash Flow, 5 Yr. CAGR %	45.9	49.05	14.72	44.58	-4.47
Dividend Per Share, 5 Yr. CAGR %	5.11	5.83	6.41	6.9	7.26