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Arphra AIPlain-English read on American Electric Power Company, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $16.62B | $19.31B | $19.38B | $19.92B | $21.78B | $23.33B | $24.7B | $26.57B | $28.68B |
| Cost of revenue | $11.95B | $14.44B | $13.76B | $13.56B | $14.85B | $15.8B | $17B | $18.86B | $19.53B |
| Gross profit | $4.67B | $4.87B | $5.62B | $6.36B | $6.93B | $7.37B | $7.71B | $8.43B | $8.9B |
| Gross margin | +28.09% | +25.21% | +29.02% | +31.92% | +31.81% | +31.58% | +31.23% | +31.72% | +31.04% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total operating expenses | $1.41B | $1.47B | $1.49B | $1.6B | $1.63B | $1.86B | $1.87B | $2.03B | $2.23B |
| Operating income | $3.26B | $3.4B | $4.13B | $4.76B | $5.3B | $5.44B | $5.71B | $5.99B | $6.57B |
| Operating margin | +19.63% | +17.60% | +21.32% | +23.90% | +24.33% | +23.30% | +23.10% | +22.55% | +22.90% |
| EBITDA | $6.75B | $7.1B | $7.21B | $8.09B | $8.79B | $9.21B | $9.96B | $10.71B | $11.3B |
| EBIT | $3.7B | $3.81B | $4.02B | $4.7B | $5.3B | $5.35B | $5.67B | $6.04B | $6.46B |
| Below the line | |||||||||
| Interest expense | $1.19B | $1.39B | $1.81B | $1.86B | $2.03B | $2.18B | $2.28B | $2.47B | $2.68B |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$659M | -$1.09B | -$1.87B | -$1.82B | -$1.47B | — | — | — | — |
| Pre-tax income | $2.6B | $2.31B | $2.27B | $2.94B | $3.83B | $3.36B | $3.59B | $3.83B | $4.17B |
| Income tax expense | $115.5M | $5.4M | $54.6M | -$39.2M | $129M | $51.89M | $52.16M | $58.24M | $61.66M |
| Earnings | |||||||||
| Net income | $2.49B | $2.31B | $2.21B | $2.97B | $3.58B | $3.4B | $3.45B | $3.74B | $4.1B |
| Net income · continuing ops | $2.49B | $2.31B | $2.21B | $2.98B | $3.7B | $3.27B | $3.66B | $3.83B | $4.07B |
| Net margin | +14.97% | +11.95% | +11.39% | +14.90% | +16.43% | +14.57% | +13.99% | +14.06% | +14.28% |
| EPS · basic | $4.97 | $4.51 | $4.26 | $5.60 | $6.66 | $6.30 | $6.82 | $7.57 | $8.44 |
| EPS · diluted | $4.96 | $4.49 | $4.24 | $5.58 | $6.66 | $6.35 | $6.85 | $7.57 | $8.32 |
| EPS · low estimate | — | — | — | — | — | $6.25 | $6.73 | $7.51 | $7.39 |
| EPS · high estimate | — | — | — | — | — | $6.45 | $7.00 | $7.66 | $9.41 |
| Shares · basic | 500.52M | 511.84M | 518.9M | 530.09M | 518.9M | 520.9M | 516.31M | 521.56M | 517.58M |
| Shares · diluted | 501.78M | 513.48M | 520.21M | 531.34M | 520.21M | 518.73M | 522.23M | 518.24M | 522.36M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 13 | 12 | 16 | 15 |
| Analysts (EPS) | — | — | — | — | — | 13 | 14 | 7 | 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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