Utilities · Electric Utilities · US stock · price as of 16 Oct 2026
Key indicators
Price
$66.85
52-week range
$60.65 – $75.68
Market cap
$25.2B
P/E (trailing)
17.2×
EV / EBITDA
9.9×
Free-cash-flow yield
1.2%
Dividend yield
4.7%
Revenue (last 12 months)
$14.1B
Revenue growth (3y a year)
3.3%
Operating margin
21.4%
Return on invested capital
5.5%
Net debt / EBITDA
5.2×
Fair value
Blended fair value$89.67 range $78 – $107
Versus priceFair+34% to fair value
Peer multiples
$82.80
Fundamentals-adjusted multiple
$103.66
10-year DCF (market-scaled)
$82.54
Earnings power value (floor, not blended)
$25.22
Model uncertainty
Medium
X-Ray Score
66/ 100 · Medium confidence · ahead of 87% of sector peers
Valuation85
Growth53
Profitability63
Financial health60
Dividends63
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Eversource Energy is a regulated utility holding company that delivers electricity, natural gas and water service in several northeastern states, including Massachusetts, Connecticut and New Hampshire. It owns the wires and pipes that carry energy to homes and businesses, and does not primarily earn money by producing power. Revenue is set largely by rate cases approved by state regulators, which allow recovery of costs and an authorized return.
A dividend is paid, with a yield of 4.7%. Looking at the numbers, trailing revenue is $14.1 billion, and it expanded at 3.3% a year across three years. Operating margin is 21.4%, while return on invested capital is 5%. Leverage, measured as net debt to EBITDA, is 5.2 times.
StocksXray gives Eversource Energy an X-Ray Score of 66 out of 100 (medium confidence), ahead of 87% of the S&P 500 stocks in its sector. Its strongest lens is valuation (85) and its weakest is growth (53).
Our fair value blend is $89.67 (range $77.87 to $106.88). At $66.85 the stock trades 25% below that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Eversource Energy (ES)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$74.71
$70.92
$54.31
$52.97
$65.08
$66.85
Market cap
$25.7B
$24.6B
$19.0B
$19.0B
$24.2B
$25.2B
P/E
21.1×
17.5×
–
23.3×
14.3×
17.2×
EV / revenue
4.5×
3.7×
3.6×
3.8×
3.9×
3.7×
EV / EBITDA
13.2×
11.8×
13.5×
10.9×
9.7×
9.9×
Price / free cash flow
–
–
–
–
–
84.7×
Free-cash-flow yield
−4.7%
−4.2%
−14.2%
−12.2%
−0.2%
1.2%
Price / book
1.8×
1.6×
1.3×
1.3×
1.5×
1.5×
Dividend yield
3.23%
3.60%
4.97%
5.40%
4.63%
4.66%
Fundamentals checklist ● 6 Good · ● 6 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.7%Good
Free-cash-flow yield1.2%Good
Risk models
Altman Z score0.8×Average
Piotroski F-Score7 of 9Good
Growth
EPS growth (3y)4.0%Bad
Revenue growth (3y)3.3%Average
Growth consistency80%Average
Balance sheet
Current ratio0.8×Average
Net debt / EBITDA5.2×Good
Interest cover2.2×Bad
Valuation
Fair value vs price1.3×Good
EBIT / EV yield5.7%Good
Profitability
Return on invested capital5.5%Average
Operating margin21.4%Average
Red flags
Dividend may be at risk — Dividends exceed free cash flow
XStocksXray
Eversource Energy (ES)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
9,863
12,289
11,911
11,901
13,547
14,115
Gross profit
–
–
–
–
–
–
Operating income
1,993
2,198
2,399
2,409
2,989
3,016
Net income
1,228
1,412
-435
819
1,700
1,457
Diluted EPS ($)
3.54
4.05
-1.26
2.27
4.56
3.89
Free cash flow
-1,212
-1,041
-2,691
-2,321
-45
298
Gross margin
–
–
–
–
–
–
Operating margin
20.2%
17.9%
20.1%
20.2%
22.1%
21.4%
Net margin
12.5%
11.5%
−3.6%
6.9%
12.5%
10.3%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
48,492
53,231
55,612
59,595
63,787
63,416
Cash
67
375
54
27
135
1,819
Total debt
18,217
21,044
24,413
26,705
28,265
29,112
Equity
14,600
15,473
14,174
15,039
16,197
16,340
Dividend per share ($)
2.41
2.55
2.70
2.86
3.01
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.