MARKETS / NYSE / AEE

NYSE · ELECTRIC & OTHER SERVICES COMBINED · LARGE CAP

Ameren Corp. AEE

19 fiscal years on record · USD · FY2025 reported · SEC filings only

12 YEARS OF DIVIDEND GROWTH

Revenue

$8.8B

▲ 15.4% YoY

Net income

$1.5B

▲ 23.1% YoY

Free cash flow

$-775.0M

In brief

What this company does

Ameren, through its subsidiaries, operates a rate-regulated electric generation, transmission, and distribution business and a rate-regulated natural gas distribution business in Missouri, rate-regulated electric transmission, electric distribution, and natural gas distribution businesses in Illinois, and a FERC rate-regulated electric transmission business in the MISO. Ameren has four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. Ameren Missouri owns energy centers that rely on a diverse fuel portfolio, including coal, nuclear, and natural gas, as well as renewable sources of generation. Ameren Missouri burned approximately 12.0 million tons of coal in 2025. Ameren was formed in 1997 and is headquartered in St. Louis, Missouri, as a public utility holding company whose primary assets are its equity interests in its subsidiaries.

Written from the business description in AMEREN CORP's annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.

Growth

USD 8.8B

Revenue, FY2025 · full 19-year series below

Revenue $B Net income $B

FY2025 · Revenue 8.8 · Net income 1.5

Compound annual growth

Revenue

+3.4%

+8.7%

+3.7%

+0.9%

Net income

+10.6%

+10.7%

EPS, diluted

+8.9%

+7.5%

+16.0%

Dividend / share

+6.4%

+7.3%

+5.5%

+4.2%

Returned to shareholders

+8.0%

+9.2%

+6.7%

+5.0%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +8.7% a year over five years — but profit grew faster: net income at +10.7%, earnings per share at +8.9%.

The share count rose from 0.25B to 0.28B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

17 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 23.9% · Net 17.2%

ROE

FY2025 · ROE 11.5%

Gross margin—

Operating margin23.9%

Net margin17.2%

Return on assets3.1%

EBITDAUSD 3.6B

Each USD of equity produced 11 cents of profit this year.

Cash & shareholders

USD 768.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF -0.8

Net buybacks $M Dividends $M

FY2025 · Dividends 768.0 · Net buybacks —

Dividends paidUSD 768.0M

Net buybacks—

Share of profit52.6%

Consecutive raises12 years

USD 768.0M in dividends — 53% of the year's profit went back to shareholders.

Total assetsUSD 48.5B

EquityUSD 13.4B

CashUSD 13.0M

Gross debtUSD 19.2B

Net debtUSD 19.2B

Current ratio0.66×

Net debt stands at 143% of equity.

The 19-year record

19 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue $B	8.8	7.6	7.5	8.0	6.4	5.8	5.9	6.3	6.2	6.1	6.1	6.1	5.8	5.8	6.1	7.6	7.1	7.9	7.6
Operating income $B	2.0	1.5	1.6	1.5	1.3	1.3	1.3	1.4	1.4	1.3	1.3	1.3	1.2	1.2	1.0	0.9	1.4	1.4	1.4
EBITDA $B	3.6	3.0	3.0	2.9	2.6	2.5	2.3	2.3	2.3	2.2	2.0	2.0	1.9	1.8	1.6	1.7	2.1	2.1	2.1
Income tax $B	0.1	0.1	0.2	0.2	0.2	0.2	0.2	0.2	0.6	0.4	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.3
Net income $B	1.5	1.2	1.2	1.1	1.0	0.9	0.8	0.8	0.5	0.7	0.6	0.6	0.3	−1.0	0.5	0.1	0.6	0.6	0.6
Free cash flow $B	−0.8	−1.6	−1.0	−1.1	−1.8	−1.5	−0.2	−0.1	−0.0	0.0	0.1	−0.2	0.3	0.6	1.0	0.8	0.3	−0.4	−0.3
EPS, diluted $	5.35	4.42	4.38	4.14	3.84	3.50	3.35	3.32	2.14	2.68	2.59	2.40	1.18	−4.01	2.15	0.58	2.78	·	·
Dividend / sh $	2.84	2.68	2.52	2.36	2.20	2.00	1.92	1.85	1.78	1.72	1.66	1.61	1.60	1.60	1.55	1.54	1.54	2.54	2.54
Payout %	53	60	57	57	57	56	57	55	82	64	64	67	134	−39	72	265	55	88	85
ROE %	11.5	10.1	10.6	10.7	10.7	10.3	10.6	11.1	7.3	9.3	9.2	8.8	4.4	−13.4	6.6	1.8	8.3	8.7	·
Shares out B	0.28	0.27	0.27	0.26	0.26	0.25	0.25	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.21	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

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Provenance

Company facts, as filed

How we verify · 0 failures in 72 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 4 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityElectric & Other Services Combined

Listed onNYSE

Incorporated inMissouri

Fiscal year endsDecember 31

Data on record since2007