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American Electric Power (AEP): financials, SEC filings and peers

American Electric Power (AEP) is an electric utilities company in the Utilities sector of the S&P 500, headquartered in Columbus, Ohio.

It was founded in 1906 and joined the S&P 500 on March 4, 1957.

Its fiscal year ends in December, and its shares trade on the Nasdaq.

In its SEC filings it is classified as “Electric Services”.

American Electric Power at a glance

Revenue (12 months)
$22.4B
Revenue growth
+11.3%
Operating margin
24.0%
Net income (12 months)
$3.8B
Free cash flow (12 months)
$2.6B
Cash
$306M
Debt
$51.1B
Diluted EPS (12 months)
$6.77

Twelve months to March 31, 2026, from the 10-Q filed May 5, 2026.

Latest twelve months

Over the twelve months to March 31, 2026, American Electric Power reported revenue of $22.4 billion, up 11.3% from a year earlier.

Its operating margin was 24.0%, up 2.1 percentage points from a year earlier: for every $100 of sales, about $24 was left as operating profit.

Net income was $3.8 billion (16.9% of revenue), 37.0% higher than a year earlier.

Operating cash flow was $7.0 billion and capital spending $4.4 billion, leaving free cash flow of $2.6 billion (11.6% of revenue). Capital spending equal to 20% of revenue is high; the company is investing heavily.

At the end of the period it held $306 million in cash and $51.1 billion in debt, a net debt position of $50.8 billion.

The diluted share count rose 2.3% in a year, which dilutes existing shareholders.

Five-year trend

  • Revenue went from $14.9 billion in fiscal 2020 to $21.9 billion in fiscal 2025, about 8.0% a year.
  • Operating margin widened from 20.0% to 24.3% over the same years.
  • Free cash flow was positive in each of the last 4 fiscal years.
Fiscal year20212022202320242025
Revenue$16.8B$19.6B$19.0B$19.7B$21.9B
Revenue growth12.6%17.0%-3.3%3.9%10.9%
Operating margin20.3%17.7%18.7%21.8%24.3%
Net income$2.5B$2.3B$2.2B$3.0B$3.7B
Free cash flow——$4.9B$6.4B$3.5B
Diluted EPS$4.96$4.49$4.24$5.58$6.66

Fiscal years as reported in American Electric Power’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

  • 10-Q filed July 30, 2026 — quarterly report
  • 8-K filed July 30, 2026 — Earnings results
  • 8-K filed July 21, 2026 — Executive or director change
  • 8-K filed May 14, 2026 — Material agreement; Other event
  • 10-Q filed May 5, 2026 — quarterly report
  • 8-K filed May 5, 2026 — Earnings results
  • 8-K filed April 29, 2026 — Shareholder vote results
  • 8-K filed February 17, 2026 — Executive or director change

All American Electric Power filings on SEC EDGAR

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Questions about American Electric Power

Is American Electric Power's revenue growing?

Yes. Revenue for the twelve months to March 31, 2026 was $22.4 billion, up 11.3% from a year earlier, according to its SEC filings.

Is American Electric Power profitable?

Yes. It earned $3.8 billion in net income over the twelve months to March 31, 2026, a net margin of 16.9%.

Does American Electric Power have more cash or more debt?

At March 31, 2026 it had $306 million in cash and $51.1 billion in debt, so more debt than cash.

When did American Electric Power last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on July 30, 2026.

Which companies are similar to American Electric Power?

In the S&P 500, American Electric Power is grouped in Electric Utilities within the Utilities sector. Constellation Energy (CEG), Duke Energy (DUK), Edison International (EIX), Eversource Energy (ES), Entergy (ETR) are in the same group.

Understand the numbers

Source: American Electric Power’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.