Electric & Other Services Combined
Consolidated Edison, Inc., through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.6 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 1,530 customers in parts of Manhattan. The company 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, it operates 543 circuit miles of transmission lines; 15 transmission substations; 63 distribution substations; 87,951 in-service line transformers; 3,869 pole miles of overhead distribution lines; and 2,320 miles of underground distribution lines, as well as 4,359 miles of mains and 377,741 service lines for natural gas distribution. Further, the company owns, develops, and operates renewable and energy infrastructure projects; and provides energy-related products and services to wholesale and retail customers, as well as invests in electric and gas transmission projects. It 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.
In the chart Earnings are multiplied by this value.
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
---|---|---|---|---|---|---|---|---|---|---|
Net Margin | 9.5% | 10% | 13% | 11% | 11% | 9% | 8.7% | 10% | 17% | 12% |
ROA | 5.4% | 5.5% | 5.7% | 4.9% | 4.7% | 4.2% | 4.5% | 3.8% | 4.8% | 3.7% |
ROE | 9.1% | 8.7% | 9.9% | 8.2% | 7.4% | 5.8% | 5.9% | 7.7% | 12% | 8.4% |
The average Net Margin over the past 5 years is +11.16%.
The trend of Net Margin over the past 5 years is +0.8%.
The average ROA over the past 5 years is +4.49%.
The trend of ROA over the past 5 years is -0.09%.
The average ROE over the past 5 years is +7.8%.
The trend of ROE over the past 5 years is +0.55%.
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
---|---|---|---|---|---|---|---|---|---|---|
Debt FCF | 19.96 | 25.37 | 51.11 | -7.79 | -39.97 | -12.89 | -19.93 | -49.21 | -11.16 | -12.73 |
Debt Equity | 1.09 | 1.11 | 1.12 | 1.18 | 1.19 | 1.28 | 1.21 | 1.25 | 1.16 | 1.12 |
MIN | ||||||||||
Graham Stability | - | - | 100% | 100% | 97% | 78% | 94% | 100% | 100% | 78% |
The Debt/FCF trailing twelve month is -12.73.
The trend of Debt/FCF over the past 5 years is -1.48.
Graham’s Stability measure stands at 0.78.
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
---|---|---|---|---|---|
Revenue | 2.8% | 3.5% | 6.2% | -6.4% | 0.99% |
Net Income | 11% | 13% | 32% | 57% | 4.1% |
Stockholders Equity | 5.7% | 4.7% | 3.5% | 1.3% | -0.62% |
FCF | - | - | - | - | -33% |
The Revenue CAGR over the past 5 years is +3.51%.
The trend of Revenue growth rate over the past 5 years is +0.99%.
The Earnings CAGR over the past 5 years is +12.73%.
The trend of Earnings growth rate over the past 5 years is +4.07%.
The Equity CAGR over the past 5 years is +4.67%.
The trend of Equity growth rate over the past 5 years is -0.62%.
The FCF CAGR over the past 5 years is -2.97%.
The trend of FCF growth rate over the past 5 years is -33.23%.