Company file · ETR
Entergy
Entergy's revenue rose 9.0% in FY2025, to $12.9B, and net income rose 67.1% to $1.8B
Revenue rose 9.0% to $12.9B in FY2025, from $11.9B in FY2024. Net income rose 67.1% to $1.8B. Electricity, US Regulated was the largest product or service, at 99% of revenue.
Key facts
In fiscal 2025, which ended Dec 31, 2025, Entergy (NYSE: ETR) took in $12.9B of revenue (up 9.0% on fiscal 2024); net income was $1.8B (up 67.1%). The most recent quarter, ended Sep 30, 2026, brought revenue of $4.4B, up 14.5% year over year, with net income of $946M. Electricity, US Regulated was the biggest single line by product or service: 99% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 19, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Nov 2, 2026).
Source: 10-K FY2025, filed Feb 19, 2026
Source: 10-Q filed May 1, 2026 · 10-Q filed Nov 2, 2026
How it makes money
By product or service, FY2025
- LineAmountSharevs FY2024
- Electricity, US Regulated$12.8B99%+9.9%
- Natural Gas, US Regulated$113M1%−36.8%
- Product and Service, Other$59M0%−20.4%
Source: 10-K FY2025, XBRL breakdown
By product or service in FY2025: Electricity, US Regulated (99%), Natural Gas, US Regulated (1%) and Product and Service, Other (0%), as shares of total revenue. Total revenue was $12.9B.
Source: 10-K FY2025
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Entergy 10-Q for the quarter ended Sep 30, 2026, filed Nov 2, 2026
By product or service
Source: Entergy 10-Q for the quarter ended Sep 30, 2026, filed Nov 2, 2026
The bull case and the bear case
The bull case
- Revenue rose 9.0% in FY2025 to $12.9B, from $11.9B a year earlier. 10-K, FY2025
- Net income rose 67.1% in FY2025 to $1.8B, from $1.1B. 10-K, FY2025
- Operating cash flow rose 14.8% in FY2025 to $5.2B. 10-K, FY2025
- Revenue in the quarter ended Sep 30, 2026 was $4.4B, up 14.5% on a year earlier. 10-Q, quarter ended Sep 30, 2026
The bear case
- Diluted shares rose 4.3% in FY2025, which spreads profit across more shares. 10-K, FY2025
- Total debt rose 7.0% in FY2025 to $30.9B. 10-K, FY2025
- Natural Gas, US Regulated revenue fell 36.8% in FY2025 to $113M. 10-K, FY2025
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Entergy is in the electric utilities industry, part of the utilities sector. The SEC files it under Electric Services.
The full description of Entergy's business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the electric utilities industry. They are not a summary of Entergy’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Rates and regulatorsRegulators set much of what it can charge, so decisions can limit earnings.
- Capital spendingBuilding and upgrading networks needs large investment financed with debt.
- Weather and operationsStorms, wildfires and outages can cause costs and liability.
- Fuel and power costsFuel and purchased-power costs can change faster than rates.
- Interest ratesHigher borrowing costs raise the cost of funding projects.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $12.1B | $11.9B | $12.9B |
| Net income | $2.4B | $1.1B | $1.8B |
| Operating cash flow | $4.3B | $4.5B | $5.2B |
| Cash & equivalents (year end) | $133M | $860M | $1.9B |
| Total debt (year end) | $26.2B | $28.9B | $30.9B |
| Diluted shares | 425M | 432M | 450M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income including the share that belongs to minority owners of subsidiaries.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Short-term borrowings and the current part of long-term debt plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Return on equity (ROE)
- What a P/E ratio is
- Accrual accounting vs. cash
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
- Net income here includes the share that belongs to minority owners of subsidiaries, the figure the company's tagged data carries for the whole business.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Nov 2, 2026 | Sep 30, 2026 |
| 10-Q | Jul 31, 2026 | Jun 30, 2026 |
| 10-Q | May 1, 2026 | Mar 31, 2026 |
| DEF 14A | Mar 27, 2026 | Dec 31, 2025 |
| 10-K | Feb 19, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Entergy
How does Entergy make money?
In fiscal 2025, revenue totaled $12.9B. By product or service in FY2025: Electricity, US Regulated (99%), Natural Gas, US Regulated (1%) and Product and Service, Other (0%), as shares of total revenue. Total revenue was $12.9B. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
What was Entergy's revenue in fiscal 2025?
Revenue came to $12.9B in the year ended Dec 31, 2025. Going back two years, it was $12.1B in fiscal 2023 and $11.9B in fiscal 2024, so the latest year was up 9.0%. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
Is Entergy profitable?
Yes, by US accounting rules (GAAP): net income was $1.8B in fiscal 2025, up 67.1% from $1.1B a year earlier. For the quarter ended Sep 30, 2026, net income was $946M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
What did Entergy report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 30, 2026 shows revenue of $4.4B, against $3.8B in the same quarter a year before (up 14.5%), and net income of $946M, against $698M (up 35.4%). Source: 10-Q for the quarter ended Sep 30, 2026, filed Nov 2, 2026.
How much cash and debt does Entergy have?
On Sep 30, 2026, cash and cash equivalents stood at $4.2B and total debt at $34.8B. Total debt here is short-term borrowings and the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Nov 2, 2026.
What are the main risks Entergy faces?
Entergy's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 19, 2026. Risks that are common among companies in the electric utilities industry include Rates and regulators; capital spending; weather and operations; fuel and power costs; interest rates. The first: Regulators set much of what it can charge, so decisions can limit earnings. Source: 10-K, Item 1A Risk Factors.
Where do these Entergy numbers come from?
Two filings Entergy made with the SEC: its fiscal 2025 10-K, filed Feb 19, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Nov 2, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Entergy
- Millennium Management: 2,224,055 shares, reported value $255.5M at Jun 30, 2026 (+35.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 2,205,517 shares, reported value $253.3M at Jun 30, 2026 (−1.1% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Point72 Asset Management: 1,579,167 shares, reported value $181.4M at Jun 30, 2026 (−10.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Soros Fund Management: 913,912 shares, reported value $105.0M at Jun 30, 2026 (+1,084.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Renaissance Technologies: 484,100 shares, reported value $55.6M at Jun 30, 2026 (−13.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Two Sigma Investments: 49,735 shares, reported value $5.7M at Jun 30, 2026 (−73.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in ETR
- The editor holds no position in Entergy (ETR). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell ETR from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 5, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold ETR, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| EntergyETR | FY2025 | $12.9B | +9.0% | $1.8B |
| Southern CompanySO | FY2025 | $29.6B | +10.6% | $4.3B |
| Duke EnergyDUK | FY2025 | $31.7B | +5.6% | $5.0B |
| Constellation EnergyCEG | FY2025 | $25.5B | +8.3% | $2.3B |
| American Electric PowerAEP | FY2025 | $21.9B | +10.9% | $3.7B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.