Consolidated Edison Inc (ED)
Fair ValueFundamental
66
Price
$102.21
Market Cap
$38.03B
Part 1 · What the company is worth
Overview
Consolidated Edison, Inc., through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,490 customers in parts of Manhattan. It also supplies electricity to approximately 0.3 million customers in southeastern New York and northern New Jersey; and gas to approximately 0.1 million customers in southeastern New York. In addition, the company operates 552 circuit miles of transmission lines; 16 transmission substations; 63 distribution substations; 89,675 in-service line transformers; 3,764 pole miles of overhead distribution lines; and 2,417 miles of underground distribution lines, as well as 4,374 miles of mains and 379, 939 service lines for natural gas distribution. Further, it invests in electric and gas transmission projects. The company primarily sells electricity to industrial, commercial, residential, and government customers. Consolidated Edison, Inc. was founded in 1823 and is based in New York, New York.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users
Through PSE&G it runs the regulated electric and gas delivery business for the New Jersey half of the New York metropolitan area, the same dense urban franchise model Con Edison runs across the river, and the two systems are directly interconnected.
It is the other big Northeastern pure wires-and-pipes utility, delivering electricity and gas to about four million customers in Connecticut, Massachusetts and New Hampshire under the same kind of rate-case regulation.
Exelon is the closest match to Con Edison's business model — a group of purely regulated delivery utilities serving big cities such as Chicago, Philadelphia, Baltimore and Washington, with no merchant generation.
Its US arm distributes gas in Brooklyn, Queens, Staten Island and Long Island and electricity upstate, so it serves the New York customers and the New York regulator that Con Edison does not.
Its Avangrid subsidiary, taken fully private in December 2024, delivers electricity and gas to about three million customers in upstate New York and New England, competing for the same state rate decisions and grid-investment approvals.
Balance Sheet & Liquidity
Revenue
$17.39B
Trailing 12 months (through 3/31/2026)
Net Income
$2.16B
Trailing 12 months (through 3/31/2026)
Free Cash Flow
-
Total Equity
$24.19B
Total Liabilities
$50.41B
Current Ratio
1.19
Interest Coverage
2.43
Debt/EBITDA
0.26
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
$109.59
Current Price
$102.21
Margin of Safety
+6.7%
Fair Value Range
$72.61 - $146.57
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
17.24
ROE
8.4%
P/B Ratio
1.47
P/FCF
-
Gross Margin
-
ROIC
3.4%
Profitability Radar
Value Creation (Economic Moat)
ROIC
3.4%
WACC
8.2%
ROIC − WACC
-4.9 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (15)
- EPS shows upward trend
- P/B Ratio 1.47
- Debt/Equity ratio
- Operating Margin 17.2%
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 8.9%
- Revenue Growth 5Y 8.0%
- PEG Ratio 1.49
- Earnings Quality (OCF/NI) 1.92
- Net Margin Trend 12.4% vs 11.8%
- Piotroski F-Score 6/9
Failed (8)
- EPS CAGR 3.73%
- Price CAGR 3.75%
- ROIC 3.4%
- Price below Graham Number
- DCF valuation (Fairly valued)
- Analyst Consensus 8% Buy
- Earnings Surprise avg -0.7%
- Share Dilution 3.3%
Unavailable (5)
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Issuing new shares, diluting ownership
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Timothy P. Cawley | Chairman, President & CEO | 60 |
| Mr. Kirkland B. Andrews | Senior VP & CFO | 57 |
| Mr. Kamran Ziaee | SVP & Chief Information Officer | 59 |
| Ms. Deneen Lynette Donnley J.D. | Senior VP & General Counsel | 60 |
| Mr. Matthew Ketschke | President of Consolidated Edison Company of New York, Inc. | 53 |
| Mr. Joseph Miller | VP, Controller & Chief Accounting Officer | 62 |
| Ms. Yukari Saegusa | VP, Treasurer & Investor Relations | 57 |
| Mr. Robert Sanchez | President of Shared Services of Con Edison of New York | 59 |
| Ms. Sylvia V. Dooley | VP & Corporate Secretary | - |
| Mr. Stuart Nachmias | President & CEO of Con Edison Transmission, Inc. | 60 |
Audit Risk
6
Board Risk
7
Compensation Risk
1
Shareholder Rights Risk
4
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 2026-02-19
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-06
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-09-04
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for ED, sourced from Markets Gazette.