OGE Energy Corp.
OGEFinancial Snapshot
ticker: OGE step: 04 generated: 2026-05-13 source: quick-research
OGE Energy Corp. (OGE) — Financial Snapshot
Income Statement Summary
| Metric | FY2022 | FY2023 | FY2024 | YoY |
|---|---|---|---|---|
| Revenue | $3.38B* | $2.67B | $2.99B | +11.6% |
| Operating Margin | ~14% | ~22% | ~22% | flat |
| Net Income | $666M* | $417M | $442M | +6.0% |
| EPS (diluted) | $3.32* | $2.07 | $2.19 | +5.8% |
FY2022 includes $1.16/share from midstream (Energy Transfer units sold); underlying utility EPS ~$2.16. Revenue decline in 2023 reflects midstream exit, not utility deterioration.
FY2025: EPS $2.32 (+5.9%); 7% weather-normalized load growth
Cash Flow & Balance Sheet (FY2024)
| Metric | Value |
|---|---|
| Operating Cash Flow | ~$600M |
| Free Cash Flow | Modestly negative (capex cycle) |
| Capital Expenditures | ~$700M |
| Cash & Equivalents | ~$50M |
| Total Debt | ~$3.5B |
Key Ratios (approximate)
- P/E: ~20x (adj.) | EV/EBITDA: ~11x | Dividend Yield: ~3.5%
- EPS CAGR (utility, 2023–2025): ~6% | Load growth (weather-normalized, 2025): ~7%
Growth Profile
OGE's utility earnings have grown at a steady 5–7% annual rate post-midstream exit, driven by infrastructure investment and modest customer growth in Oklahoma. The step-change catalyst is data centers: a 1 GW Google commitment and 7% weather-normalized load growth in 2025 signal a potential acceleration from the historical 5–6% growth rate. The company plans to file an Oklahoma rate case to recover costs from 1.9 GW of new capacity additions required to serve growing demand.
Forward Estimates
- FY2025 EPS: $2.32 (+5.9% vs FY2024)
- FY2026 EPS guidance: $2.43 (+4.7%)
- New capacity: 1.9 GW planned (gas, renewables, storage)
- Google data center: 1 GW contract; 3 facilities in Oklahoma
- Oklahoma rate case: planned filing 2025/2026
- Analyst avg. price target: ~$48.89 (consensus Buy, 9 analysts)
Deeper Financial Analysis
The fundamental tier adds 9 additional research dimensions for $OGE.