OGE Energy Corp.

Electric Services

OGEStrained8 of 11 basics passed

$46.50

+0.85%

Market cap $9.61B

$46.50

+0.85%

Market cap $9.61B

OGE Energy is a holding company for Oklahoma Gas & Electric, a regulated utility with electricity generation, transmission, and distribution service for 900,000 customers in Oklahoma and western Arkansas.

It is a $9.61B utility company. Revenue grew 0.6% over the last year, it keeps 14¢ of every dollar of sales as profit, and its net debt equals ~20.6 years of free cash flow. It trades at 20.6× earnings — around the middle of its own history.

Website: ogeenergy.com
Location: Oklahoma City, OK
Employees: 2 248
Sector: Utilities
Founded: 1902

Share price · 3 years

$33.43 → $46.50+39.1%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $3.24B
Profit: keeps 14¢ of every $1 sold; $467M
Free cash flow: cash left after running the business; $274M
Net debt: debt minus cash on hand; $5.66B
P/E: years of profit in the price; 20.6
EPS: earnings per share, TTM; $2.31
Dividend: pays out 74% of profit · 127% of FCF; 3.61%
Shares: shares outstanding; 202.5M
Volatility: beta vs the market — under 1 swings less; 0.50

Revenue, last 10 years

52-week range

Low $42.16$46.50High $49.95

Today's price is 56% of the way from the year's low to its high.

P/E vs its history5y

20.6×median 18.8×

Higher than 65% of past days — around the middle of its own history.

Valuation vs own history

P/E

20.6×

35%

P/S

3.0×

19%

EV/EBITDA

19.3×

40%

P/B

1.9×

25%

FCF yield

2.9%

91%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Insider activity · 90 days

-$300Knet selling

Purchases$0

Sales$300K

Insiders trading, last 14d0 buy · 0 sell

Standing in Utilities

Size$9.61Btop 100%
Revenue growth-1%top 79%
Net margin14%top 44%
Return on equity9%top 77%
P/E20.6×top 55%
Dividend yield3.61%top 30%

Ranked against 44 Utilities companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong quality; Growth, Health and Moat lag behind.

Valuation50

P/E vs own history65th pct · 5/25
FCF yield2.9% · 5/25
P/S3.0x · 20/25
EV/EBITDA11.5x · 20/25

Growth32

Revenue CAGR-2.8% · 0/25
Net income CAGR6.9% · 12/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growth16.4% · 20/25

Profitability57

ROIC6.4% · 5/25
ROE9.5% · 12/25
Net margin14.4% · 20/25
Operating margin24.2% · 20/25

Health21

Altman Zn/a · 0/25
Current ratio0.77 · 6/25
Interest coverage3.1x · 10/25
Net cash / debtD/A 39% · 5/25

Quality75

Piotroski F6/9 · 15/25
Beneish M-2.68 · 25/25
FCF conversion59% · 15/25
Margin stabilityσ 5.8% · 20/25

Moat30

ROIC >12% years0/9 yrs · 0/25
Median gross margin61.0% · 25/25
FCF-positive years5/10 yrs · 5/25
Worst-year net marginworst -8.2% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2017Financial
Best year on record
$619M net income
FY2016Financial
First recorded profitable year
$338M net income
FY2016Financial
Revenue already above $1B
$2.26B in first reported year
2013Acquisition
OGE Energy is also the former parent of Enogex Inc., a natural gas pipeline business which merged with CenterPoint…
1997Milestone
OG&E reorganized as a holding company, OGE Energy, with OG&E and Enogex (now part of Enable Midstream) as…
1986Acquisition
They merged with Enogex in 1986
1949Product
They created the nation's first gas/steam turbine at the Belle Isle Station power plant in 1949
1936Acquisition
They purchased the Western Light and Power Company, based in northwestern Oklahoma
1910Acquisition
They acquired the El Reno Gas and Electric Company
1902Founded
OG&E was incorporated on 27 February 1902, by Edward H

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$13 918 today — price return only

$3.3B revenue in FY2025

Profitable 5 years in a row

2 248 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (44.2%)

Watch-outs

Loss-making in 1 of the recent years
Net debt equals ~20.6 years of free cash flow

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago+0.6% YoY
Profitable — makes more than it spends$467M TTM
Profit growing — earnings are higher than last year-11.2% YoY
Generates cash — cash left after running and investing$274M TTM
Debt under control — could handle its obligations~20.6y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$9.61B market cap
Not printing shares — share count not ballooning — you keep your slice+1.2% shares over ~5y
Proven track record — years of profitability behind it9/10 profitable years
Financially stable — balance sheet not near distresshealth score 16/100
Pays a dividend — returns cash to shareholdersyield 3.61%
Valuation not extreme — price not wildly above earningsP/E 20.6

Peer comparisonOGE Energy Corp. vs 6 largest utilities peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
OGE this company	$9.6B	20.6	+0.6%	14.4%	Strained
NEE NextEra Energy, Inc.	$161.3B	17.4	+10.8%	32.4%	Strained
CEG Constellation Energy Corporation	$105.8B	30.5	+26.0%	11.1%	Strained
SO The Southern Company	$99.1B	21.3	+6.4%	15.4%	Strained
DUK Duke Energy Corporation	$90.9B	17.3	+6.3%	15.8%	Strained
WMB Williams Companies Inc.	$89.2B	29.0	+8.7%	25.2%	Strained
KMI Kinder Morgan, Inc.	$72.4B	20.9	+12.5%	19.3%	Strained

Head-to-head: OGE vs NEE · OGE vs CEG · OGE vs SO

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 3Buy 4Hold 10

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $3.24B · net income $467M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$3.24B

YoY 0.6%

Net income (TTM)

$467M

Margin 14.4%

Gross margin

44.2%

Operating margin

24.2%

P/E ratio

20.6

Dividend yield

3.61%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	2.1	3.7	3.4	2.7	3.0	3.3
Gross profit	1.5	1.5	1.7	—	1.9	2.0
Operating income (EBIT)	0.5	0.5	0.6	—	0.7	0.8
Net income	-0.2	0.4	0.4	0.4	0.4	0.5
EPS (diluted)	-0.87	1.80	2.19	2.07	2.19	2.32

Cash flowFree cash flow $274M · operating cash flow $1.29B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$274M

Margin 8.5%

Operating cash flow (TTM)

$1.29B

FCF margin

8.5%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.7	-0.3	0.8	1.2	0.8	1.1
Capital expenditure	-0.7	-0.8	-1.1	-1.2	-1.1	-1.1
Free cash flow	0.1	-1.1	-0.2	0.1	-0.3	0.1
FCF margin	2.9%	-29.9%	-6.2%	2.0%	-9.3%	2.5%

Balance sheetAssets $14.4B · net debt $5.66B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $14.4B of assets is financed

65%

35%

Liabilities $9.39B — borrowed moneyEquity $4.98B — owners' stake

Cash vs debt

Total debt $5.66B − cash $200K = net debt $5.66B

Cash on hand covers 0% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

3.1x

EBIT ÷ interest expense

ROE

9.5%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.0	0.0	0.1	0.0	0.0	0.0
Total assets	10.7	12.6	12.5	12.8	13.7	14.4
Total liabilities	7.1	8.6	8.1	8.3	9.1	9.4
Total debt	3.6	5.0	3.5	4.9	5.5	5.7
Equity	3.6	4.1	4.4	4.5	4.6	5.0
Net debt	3.6	5.0	3.5	4.9	5.5	5.7

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of OGE on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $46.50 · market cap $9.61B.