Eversource Energy ES

UtilitiesElectric Utilities & IPPsUnited States of America

Last close 69.55 USD on Nov 2, 2026, +6.8% year to date

Quant rating

Quant rating B Rank 35 of 90 in Utilities

Growth B 16 of 90
Valuation A 8 of 90
Quality B 26 of 90
Revisions D 72 of 90
Momentum C 57 of 90

Wall Street consensus Hold (2.83)Average target 71.62 USD +3.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 26.2B
Enterprise value: 54.3B
52-week range: 62.74 – 76.54
3-year range: 52.78 – 76.54
Dividend yield: 4.60%
Beta (5 years): 0.66
Shares outstanding: 377M
Next earnings: Nov 4, 2026

About the company

Eversource Energy is a utility holding company, which is engaged in the energy delivery business through its utility subsidiaries. The Company's segments include Electric Distribution, Electric Transmission, and Natural Gas Distribution. The Electric Distribution segment is engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts and New Hampshire, respectively, and the solar power facilities of NSTAR Electric Company. The NSTAR Electric Company's distribution business consists primarily of the purchase, delivery and sale of electricity to its residential, commercial and industrial customers. The Electric Transmission segment owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England. The Natural Gas Distribution segment is engaged in the distribution and sale of natural gas to customers.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	13,547	11,901	11,911	12,289	9,863	–
Revenue growth	13.8%	−0.1%	−3.1%	24.6%	10.8%	8.8%
EPS (basic, normalized)	4.56	4.57	4.93	4.09	3.86	–
EPS growth	−0.2%	−7.3%	20.5%	6.0%	–	–
Gross margin	–	–	–	–	–	–
Net margin	12.5%	6.8%	−3.7%	11.4%	12.4%	7.9%
ROE	10.7%	5.5%	−3.0%	9.2%	8.4%	6.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,819
Current ratio	0.80x
Long-term debt (mil)	26,868
Net debt (mil)	28,144
Total equity (mil)	16,496
Net debt / equity	1.71x
Net debt / EBITDA	6.18x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	13,547	+13.8%	4.0x	4,557	+9.7%	11.9x	4.56	−0.2%	15.3x
2026	13,701	+1.1%	4.0x	5,380	+18.1%	10.1x	4.63	+1.6%	15.0x
2027	14,305	+4.4%	3.8x	5,758	+7.0%	9.4x	4.92	+6.1%	14.1x
2028	14,897	+4.1%	3.6x	6,175	+7.2%	8.8x	5.24	+6.6%	13.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	13,701	0.0%	−0.4%	+2.9%	4.63	−0.4%	−0.2%	−1.4%
2027	14,305	−0.1%	+0.2%	+3.4%	4.92	−0.2%	−0.2%	−1.2%
2028	14,897	−0.1%	+0.3%	+1.2%	5.24	−0.3%	−0.4%	−0.9%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	3,333	2,534	3,063	2,971	4,118	2,838	3,221	3,370	4,504	2,903
Sales mean (mil)	3,801	2,903	3,065	3,136	3,681	2,915	3,166	2,714	4,122	2,991
Surprise	−12.3%	−12.7%	−0.1%	−5.3%	+11.9%	−2.6%	+1.7%	+24.2%	+9.3%	−2.9%
EPS reported	1.49	0.95	1.13	1.01	1.50	0.96	0.98	1.12	1.61	0.36
EPS mean	1.46	0.96	1.08	0.99	1.51	0.95	1.13	1.12	1.60	0.89
Surprise	+1.7%	−0.7%	+4.3%	+1.6%	−0.8%	+0.5%	−13.4%	+0.4%	+0.5%	−59.8%

Peer comparison Electric Utilities & IPPs

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ES Eversource Energy	26.2B	6.18x	12.5%	1.59x	15.0x	14.1x	10.1x	9.4x
NEE NextEra Energy, Inc.	178.3B	8.16x	24.9%	2.90x	21.1x	19.4x	17.0x	14.5x
SO Southern Co	108.8B	5.56x	14.7%	2.75x	20.6x	19.2x	13.1x	12.0x
DUK Duke Energy Corp	100.1B	6.28x	15.2%	1.83x	19.1x	17.9x	11.8x	10.8x
CEG Constellation Energy Corp	91.1B	4.28x	9.1%	2.86x	21.2x	19.3x	13.4x	12.4x
AEP American Electric Power Company Inc	71.0B	6.40x	16.4%	2.16x	20.4x	18.8x	13.1x	11.7x
Mean		6.14x	15.5%	2.35x	19.6x	18.1x	13.1x	11.8x
Median		6.23x	15.0%	2.46x	20.5x	19.0x	13.1x	11.9x

Technical analysis

1M+7.8%
3M−1.7%
1Y−1.4%
3Y+47.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Eversource Energy, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	13,547	11,901	11,911	12,289	9,863	8,904
Cost of revenue	–	–	–	–	–	–
Gross profit	13,547	11,901	11,911	12,289	9,863	8,904
Selling, general & administrative expenses	–	–	–	–	–	–
Research & development	–	–	–	–	–	–
Depreciation/amortization	1,569	1,434	1,306	1,194	1,103	981
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0	297	–	–	–	0
Other operating expenses	8,990	7,762	8,206	8,897	6,767	5,934
Operating income	2,989	2,409	2,399	2,198	1,993	1,989
Net interest income (expense)	−1,388	−1,385	−2,918	−603	−543	−518
Gain (loss) on sale of assets	–	–	–	2.6	–	1.8
Other non-operating income (expense)	240	220	243	268	122	86.7
Net income before taxes	1,840	1,244	−275	1,866	1,572	1,559
Provision for taxes	140	425	160	454	344	346
Minority interest	−7.5	−7.5	−7.5	−7.5	−7.5	−7.5
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,692	812	−442	1,405	1,221	1,205
Extraordinary items	–	–	–	–	–	–
Net income	1,692	812	−442	1,405	1,221	1,205
EBIT, normalized	2,989	2,706	4,359	2,213	2,103	1,989
EBITDA, normalized	4,557	4,139	5,665	3,407	3,206	2,970
Basic EPS, normalized	4.56	4.57	4.93	4.09	3.86	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Eversource Energy, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	135	26.7	53.9	375	66.8	107
Receivables	1,847	1,651	1,432	1,517	1,226	1,196
Total inventory	492	595	507	374	268	266
Prepaid expenses	353	315	356	383	370	252
Other current assets	2,250	2,488	1,900	1,574	1,340	1,310
Total current assets	5,077	5,076	4,248	4,223	3,270	3,130
Property, plant & equipment	45,978	41,043	39,552	36,170	33,425	30,938
Goodwill	4,234	3,571	4,532	4,523	4,477	4,446
Intangibles	–	–	–	–	–	–
Long-term investments	317	489	998	2,543	1,897	1,564
Note receivable	–	–	–	–	–	–
Other long-term assets	8,180	9,416	6,282	5,773	5,423	6,022
Total assets	63,787	59,595	55,612	53,231	48,492	46,100
Liabilities
Accounts payable	1,860	1,737	1,869	2,114	1,672	1,371
Payable/accrued	–	–	–	–	–	–
Accrued expenses	390	352	9.5	9.0	10.0	9.5
Short-term debt	1,525	2,043	1,930	1,442	1,505	1,249
Current portion of long-term debt	1,461	1,052	873	1,367	1,240	1,101
Other current liabilities	2,572	1,537	1,659	1,867	1,419	1,184
Total current liabilities	7,809	6,721	6,341	6,799	5,847	4,915
Long-term debt	27,210	26,088	24,023	20,189	17,533	15,680
Minority interest	–	–	–	–	–	–
Other liabilities	12,415	11,591	10,918	10,614	10,357	11,285
Total liabilities	47,434	44,400	41,283	37,602	33,737	31,880
Shareholders' equity
Preferred stock	156	156	156	156	156	156
Common stock	1,914	1,879	1,800	1,800	1,789	1,789
Additional paid-in capital	9,938	9,429	8,461	8,402	8,099	8,016
Retained earnings (accumulated deficit)	4,505	3,929	4,143	5,527	5,005	4,613
Treasury stock	−139	−171	−196	−216	−251	−278
Other equity	−20.5	−26.5	−33.7	−39.4	−42.3	−76.4
Total equity	16,353	15,195	14,329	15,629	14,755	14,219
Total liabilities & shareholders' equity	63,787	59,595	55,612	53,231	48,492	46,100

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Eversource Energy, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,700	819	−435	1,412	1,228	1,213
Depreciation, depletion & amortization	1,569	1,434	1,306	1,194	1,103	981
Deferred taxes	27.3	436	85.4	347	347	257
Non-cash items	873	−218	1,132	−354	−444	−558
Changes in working capital	−55.0	−311	−442	−199	−272	−210
Cash from operations	4,114	2,160	1,646	2,401	1,963	1,683
Investing activities
Capital expenditures	−4,159	−4,481	−4,337	−3,442	−3,175	−2,943
Other investing cash flows	−147	−55.1	−534	−689	−272	−1,186
Cash from investing	−4,306	−4,536	−4,871	−4,130	−3,447	−4,129
Financing activities
Financing cash flow items	−34.7	−57.1	−46.5	−48.2	−46.6	14.3
Cash dividends paid	−1,101	−1,009	−927	−868	−813	−752
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	1,447	3,403	3,842	2,946	2,300	3,333
Cash from financing	312	2,337	2,869	2,030	1,441	2,595
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	119	−39.1	−355	301	−43.9	148
Free cash flow	−45.1	−2,321	−2,691	−1,041	−1,212	−1,260

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.