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Arphra AIPlain-English read on Ameren Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $6.39B | $7.96B | $7.5B | $7.62B | $8.8B | $9.2B | $9.69B | $10.29B | $10.83B |
| Cost of revenue | $3.4B | $4.61B | $4.03B | $3.97B | $6.2B | $5.3B | $5.76B | $6.07B | $6.19B |
| Gross profit | $2.99B | $3.34B | $3.47B | $3.65B | $2.6B | $3.75B | $4.1B | $4.18B | $4.39B |
| Gross margin | +46.78% | +42.01% | +46.23% | +47.92% | +29.58% | +40.79% | +42.33% | +40.61% | +40.55% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | -$136M | -$184M | -$295M | $0 | $0 | -$124.19M | -$123.74M | -$137.19M | -$139.58M |
| Total operating expenses | $1.66B | $1.83B | $1.91B | $2.14B | $577M | $1.86B | $1.89B | $2.01B | $2.18B |
| Operating income | $1.33B | $1.52B | $1.56B | $1.52B | $2.03B | $1.9B | $2.07B | $2.2B | $2.33B |
| Operating margin | +20.85% | +19.04% | +20.77% | +19.89% | +23.03% | +20.70% | +21.36% | +21.37% | +21.48% |
| EBITDA | $2.81B | $3.18B | $3.41B | $3.54B | $3.69B | $4.1B | $4.31B | $4.61B | $4.91B |
| EBIT | $1.54B | $1.74B | $1.91B | $1.93B | $2.03B | $2.32B | $2.45B | $2.58B | $2.66B |
| Below the line | |||||||||
| Interest expense | $383M | $486M | $566M | $663M | $776M | $789.31M | $822.9M | $852.9M | $880.17M |
| Interest income | $27M | $35M | $33M | $41M | $0 | $30.07M | $32.02M | $33.25M | $35.83M |
| Other income / expense | -$181M | -$260M | -$218M | -$246M | -$429M | — | — | — | — |
| Pre-tax income | $1.15B | $1.26B | $1.34B | $1.27B | $1.6B | $1.61B | $1.7B | $1.85B | $1.9B |
| Income tax expense | $157M | $176M | $183M | $83M | $136M | $157.43M | $159.64M | $172.98M | $179.43M |
| Earnings | |||||||||
| Net income | $990M | $1.07B | $1.15B | $1.18B | $1.46B | $1.47B | $1.56B | $1.6B | $1.67B |
| Net income · continuing ops | $995M | $1.08B | $1.16B | $1.19B | $1.46B | $1.45B | $1.52B | $1.68B | $1.75B |
| Net margin | +15.48% | +13.50% | +15.36% | +15.51% | +16.55% | +16.03% | +16.13% | +15.54% | +15.45% |
| EPS · basic | $3.86 | $4.16 | $4.38 | $4.43 | $5.38 | $5.44 | $5.84 | $6.29 | $6.89 |
| EPS · diluted | $3.84 | $4.14 | $4.38 | $4.42 | $5.35 | $5.38 | $5.81 | $6.29 | $6.82 |
| EPS · low estimate | — | — | — | — | — | $5.37 | $5.69 | $6.24 | $6.44 |
| EPS · high estimate | — | — | — | — | — | $5.42 | $5.90 | $6.40 | $7.18 |
| Shares · basic | 256.3M | 258.4M | 262.8M | 266.8M | 270.5M | 272.19M | 271.01M | 271.33M | 271.05M |
| Shares · diluted | 257.6M | 259.5M | 263.4M | 267.4M | 272.2M | 271.48M | 274.53M | 271.22M | 269.73M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 8 | 8 | 10 | 5 |
| Analysts (EPS) | — | — | — | — | — | 6 | 5 | 4 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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