# OGE Energy Corp. (OGE) — Stock CV

OGE Energy Corp. 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.

> 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.

## Identity

- **Ticker**: OGE
- **Sector**: Utilities
- **Industry**: Electric Services
- **Headquarters**: OKLAHOMA CITY, OK
- **Employees**: 2 248
- **Website**: https://www.ogeenergy.com
- **Market cap**: $9.61B
- **Last price**: $46.50
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $3.24B
- **Net income**: $467M
- **Free cash flow**: $274M
- **Net debt**: $5.66B
- **P/E**: 20.6
- **Revenue growth (YoY)**: 0.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 50 |
| Growth | 32 |
| Profitability | 57 |
| Health | 21 |
| Quality | 75 |
| Moat | 30 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +0.6% YoY
- [x] Profitable — $467M TTM
- [ ] Profit growing — -11.2% YoY
- [x] Generates cash — $274M TTM
- [ ] Debt under control — ~20.6y of cash flow to repay
- [x] Established company — $9.61B market cap
- [x] Not printing shares — +1.2% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 16/100
- [x] Pays a dividend — yield 3.61%
- [x] Valuation not extreme — P/E 20.6

## Experience (career milestones)

- **FY2017** — Best year on record: $619M net income
- **FY2016** — First recorded profitable year: $338M net income
- **FY2016** — Revenue already above $1B: $2.26B in first reported year
- **2013** — OGE Energy is also the former parent of Enogex Inc., a natural gas pipeline business which merged with CenterPoint…
- **1997** — OG&E reorganized as a holding company, OGE Energy, with OG&E and Enogex (now part of Enable Midstream) as…
- **1986** — They merged with Enogex in 1986
- **1949** — They created the nation's first gas/steam turbine at the Belle Isle Station power plant in 1949
- **1936** — They purchased the Western Light and Power Company, based in northwestern Oklahoma
- **1910** — They acquired the El Reno Gas and Electric Company
- **1902** — OG&E was incorporated on 27 February 1902, by Edward H

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.65B | $360M | -$1.09B |
| FY2022 | $3.38B | $440M | -$208M |
| FY2023 | $2.67B | $417M | $54.1M |
| FY2024 | $2.99B | $442M | -$278M |
| FY2025 | $3.26B | $471M | $82.7M |

---

Source: https://stockcv.com/OGE — derived from company filings; may be delayed or incomplete. Information, not investment advice.