Ameren Corp (AEE)
Fair ValueFundamental
61
Price
$98.70
Market Cap
$27.52B
Part 1 · What the company is worth
Overview
Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution business and natural gas transmission and distribution business. The company also generates electricity through coal, nuclear, and natural gas, as well as renewable energy, including hydroelectric, wind, methane gas, and solar energy centers. It serves residential, commercial, and industrial customers. Ameren Corporation was founded in 1881 and is headquartered in Saint Louis, Missouri.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 17, 2026 with claude-haiku-4-5 — shared with all users
Evergy is the other large investor-owned regulated electric utility in Missouri, serving the western half of the state under the same Missouri Public Service Commission while Ameren Missouri serves the eastern half, so the two compete for industrial and data-centre load, for capital and for regulatory outcomes in the same state.
Through ComEd, Exelon is the regulated electricity distributor for northern Illinois while Ameren Illinois serves the centre and south: the two run the same business under the same Illinois Commerce Commission and compete to attract new industrial customers and to justify grid investment.
WEC is a Midwest regulated electric-and-gas utility of comparable size, and its Peoples Gas and North Shore Gas units distribute natural gas in Illinois alongside Ameren Illinois' gas business.
Alliant runs regulated electric and gas utilities in Iowa and Wisconsin inside the same MISO market as Ameren, with the same mix of rate-based grid and generation investment and the same fight for Midwest industrial load.
CMS Energy, through Consumers Energy in Michigan, is a combined regulated electric-and-gas utility with almost the same customer mix and revenue size, and the two appear in each other's peer groups for capital and executive-pay benchmarking.
Xcel is a regulated electric and gas utility across the Upper Midwest, partly inside MISO, competing with Ameren for regional transmission projects and for the same investor demand for regulated rate-base growth.
Balance Sheet & Liquidity
Revenue
$8.75B
Trailing 12 months (through 6/30/2026)
Net Income
$1.57B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$-775M
Total Equity
$13.40B
Total Liabilities
$34.95B
Current Ratio
0.53
Interest Coverage
2.63
Debt/EBITDA
5.99
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$90.99
Current Price
$98.70
Margin of Safety
-8.5%
Fair Value Range
$72.19 - $109.78
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
17.50
ROE
10.9%
P/B Ratio
2.01
P/FCF
-
Gross Margin
-
ROIC
3.7%
Profitability Radar
Value Creation (Economic Moat)
ROIC
3.7%
WACC
5.7%
ROIC − WACC
-2.0 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (18)
- EPS shows upward trend
- Price CAGR 7.18%
- P/B Ratio 2.01
- Debt/Equity ratio
- Operating Margin 24.9%
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 11.7%
- Revenue Growth 5Y 8.7%
- Analyst Consensus 67% Buy
- Earnings Surprise avg 3.0%
- PEG Ratio 1.99
- Earnings Quality (OCF/NI) 2.07
- Share Dilution 1.7%
- Net Margin Trend 17.9% vs 14.6%
- Piotroski F-Score 6/9
Failed (6)
- EPS CAGR 4.18%
- ROIC 3.7%
- Positive Free Cash Flow
- Current Ratio
- Price below Graham Number
- DCF valuation (Overvalued)
Unavailable (4)
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Share count is stable
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Martin J. Lyons Jr. | President, CEO & Chairman of the Board | 58 |
| Mr. Leonard P. Singh | Executive VP & CFO | 55 |
| Mr. Mark C. Lindgren | Executive VP of Corporate Communications & Chief Human Resources Officer of Ameren Services | 57 |
| Mr. Michael L. Moehn | Group President, Ameren Utilities | 55 |
| Mr. Shawn E. Schukar | Chairman & President of Ameren Transmission Company of Illinois | 63 |
| Ms. Theresa A. Shaw | Senior VP & Chief Accounting and Transformation Officer of Ameren Services | 52 |
| Mr. Andrew Kirk | Senior Director of Investor Relations & Corporate Modeling | - |
| Mr. David M. Feinberg J.D. | Executive VP, General Counsel & Corporate Secretary | 55 |
| Ms. Gwendolyn Goosby Mizell | Senior VP & Chief Sustainability Officer of Ameren Services | 63 |
| Mr. Ajay K. Arora | Executive VP, Chief Growth & Generation Development Officer of Ameren Missouri | 54 |
Audit Risk
6
Board Risk
8
Compensation Risk
5
Shareholder Rights Risk
8
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-18
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-03
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-09-28
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for AEE, sourced from Markets Gazette.