Consolidated Edison Inc Stock Research

Market Summary

USD94.80-0.27

Delayedas of 27 Mar 2023, 10:32 am

-0.28%

ED Stock Price

ED RSI Chart

ED Valuation

Market Cap

33.7B

Price/Earnings (Trailing)

20.33

Price/Sales (Trailing)

2.15

EV/EBITDA

11.17

Price/Free Cashflow

8.58

ED Price/Sales (Trailing)

ED Profitability

EBT Margin

13.39%

Return on Equity

8.02%

Return on Assets

2.4%

Free Cashflow Yield

11.66%

ED Fundamentals

ED Revenue

Revenue (TTM)

15.7B

Revenue Y/Y

18.04%

Revenue Q/Q

-3.22%

ED Earnings

Earnings (TTM)

1.7B

Earnings Y/Y

-15.18%

Earnings Q/Q

-69%

Price Action

52 Week Range

77.41101.31

(Low)(High)

Last 7 days

-1.3%

Last 30 days

2.9%

Last 90 days

-0.8%

Trailing 12 Months

6.7%

ED Financial Health

Current Ratio

1.14

Debt/Equity

1.13

Debt/Cashflow

0.17

ED Investor Care

Dividend Yield

3.32%

Dividend/Share (TTM)

3.16

Shares Dilution (1Y)

0.28%

Diluted EPS (TTM)

4.66

Peers (Alternatives to Consolidated Edison)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ED	33.7B	15.7B	2.88%	6.65%	20.33	2.15	14.58%	23.33%
WEC	29.4B	9.6B	2.28%	-0.57%	20.86	3.06	15.41%	8.56%
PEG	29.2B	9.8B	-3.32%	-12.28%	28.34	2.98	0.80%	259.10%
AEE	22.0B	8.0B	-1.71%	-5.55%	20.41	2.77	24.44%	8.44%
CMS	17.6B	8.6B	-0.62%	-9.27%	21.03	2.05	17.29%	-38.14%
NI	11.0B	5.9B	-3.11%	-10.18%	13.71	1.88	19.41%	37.48%
MID-CAP
UGI	7.0B	10.2B	-12.71%	-5.51%	32.24	0.68	24.47%	-79.76%
BKH	4.0B	2.6B	-2.96%	-13.81%	15.31	1.55	30.92%	9.14%
NWE	3.3B	1.5B	-4.57%	-3.15%	18.01	2.23	7.69%	-2.05%
AVA	3.1B	1.7B	-1.53%	-2.64%	19.86	1.77	20.61%	5.32%
SJW	2.3B	620.7M	-1.71%	13.78%	31.21	3.71	8.19%	22.07%
SMALL-CAP
MSEX	1.4B	162.4M	-8.93%	-23.52%	32.22	8.42	13.48%	16.11%
UTL	883.5M	563.2M	-0.86%	15.06%	21.34	1.57	18.99%	14.68%
GNE	278.1M	315.5M	-1.85%	76.98%	2.8	0.76	-13.25%	200.56%

Financials for Consolidated Edison

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	4.1%	15,670	15,055	14,503	14,059	13,676
Operating Expenses	6.2%	13,046	12,283	11,770	11,295	10,850
R&D Expenses	-	25.00	-	-	-	-
EBITDA	2.7%	5,006	4,875	4,712	4,567	-
EBITDA Margin	-1.3%	0.32*	0.32*	0.34*	0.32*	-
Earnings Before Taxes	8.2%	2,098	1,939	1,756	1,592	1,383
EBT Margin	4.0%	0.13*	0.13*	0.13*	0.11*	-
Interest Expenses	3.6%	852	822	855	911	905
Net Income	0.9%	1,660	1,645	1,570	1,434	1,346
Net Income Margin	-3.0%	0.11*	0.11*	0.12*	0.11*	-
Free Cahsflow	8.1%	3,935	3,639	3,297	2,917	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	5.0%	69,065	65,763	65,072	63,737	63,116
Current Assets	126.3%	12,972	5,733	6,016	5,462	5,551
Cash Equivalents	1543.6%	1,282	78.00	1,127	108	992
Net PPE	-7.2%	46,766	50,392	49,660	49,018	48,596
Goodwill	-7.1%	408	439	439	439	439
Current Liabilities	64.5%	11,336	6,890	6,823	5,415	5,427
. Short Term Borrowings	Infinity%	400	-	-	-	-
Long Term Debt	1.7%	23,441	23,044	-	-	-
LT Debt, Current	127.7%	1,002	440	-	-	-
LT Debt, Non Current	0.4%	22,439	22,350	22,361	22,583	22,604
Shareholder's Equity	-0.3%	20,687	20,748	20,621	20,623	20,037
Accumulated Depreciation	-96.9%	23.00	731	696	660	626
Shares Outstanding	0.1%	355	355	354	354	354
Minority Interest	-11.4%	202	228	234	245	299

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	8.1%	3,935	3,639	3,297	2,917	2,733
Share Based Compensation	-	35.00	-	-	-	-
Cashflow From Investing	-3.9%	-4,565	-4,393	-3,602	-3,340	-3,484
Cashflow From Financing	30.0%	1,014	780	367	463	461
Dividend Payments	1.4%	1,089	1,074	1,067	1,053	1,030

Risks for ED

What is the probability of a big loss on ED?

21.5%

Probability that Consolidated Edison stock will be more than 20% underwater in next one year

Probability that Consolidated Edison stock will be more than 30% underwater in next one year.

Probability that Consolidated Edison stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ED drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Consolidated Edison was unfortunately bought at previous high price.

Drawdowns

Returns for ED

Cumulative Returns on ED

8.7%

10-Year Cumulative Returns

7.0%

7-Year Cumulative Returns

8.5%

5-Year Cumulative Returns

14.4%

3-Year Cumulative Returns

What are the long-term rolling returns for ED?

FIve years rolling returns for Consolidated Edison.

Annualized Returns

Which funds bought or sold ED recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	added	5.18	360,808	2,500,810	0.07%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	3.99	11,258,300	83,592,300	0.09%
2023-03-10	BAILLIE GIFFORD & CO	reduced	-35.15	-10,205,900	26,342,100	0.03%
2023-03-10	MATHER GROUP, LLC.	reduced	-7.96	9,374	415,374	0.01%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-18.09	-617,000	6,250,000	0.03%
2023-03-06	BIRMINGHAM CAPITAL MANAGEMENT CO INC/AL	unchanged	-	67,506	670,506	0.26%
2023-03-06	Aldebaran Financial Inc.	unchanged	-	23,019	278,019	0.30%
2023-03-03	TIAA, FSB	added	2.74	221,537	1,785,540	0.01%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	200,151	200,151	-%
2023-03-01	Regal Investment Advisors LLC	reduced	-0.96	541,396	5,923,400	0.57%

Latest Funds Activity

Are funds buying ED calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own ED

No. of Funds

Consolidated Edison News

Schedule 13G FIlings of Consolidated Edison

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	12.22%	43,349,680	SC 13G/A
Feb 03, 2023	state street corp	7.89%	28,009,544	SC 13G/A
Jan 30, 2023	blackrock inc.	12.9%	45,851,229	SC 13G/A
Feb 10, 2022	state street corp	7.78%	27,514,717	SC 13G/A
Feb 09, 2022	vanguard group inc	9.99%	35,340,540	SC 13G/A
Jan 27, 2022	blackrock inc.	12.8%	45,413,132	SC 13G/A
Jan 26, 2022	blackrock inc.	12.8%	45,413,132	SC 13G/A
Feb 10, 2021	vanguard group inc	8.74%	29,884,610	SC 13G/A
Feb 08, 2021	state street corp	6.54%	22,381,107	SC 13G
Jan 27, 2021	blackrock inc.	10.9%	37,296,050	SC 13G/A

ED Fair Value

Consolidated Edison fair value in different scenarios

The table shows the Fair Value estimates for Consolidated Edison for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	49.79 -47.48%	59.94 -36.77%	79.05 -16.61%	111.32 17.43%	140.94 48.67%
Current Inflation	45.80 -51.69%	54.45 -42.56%	70.54 -25.59%	97.32 2.66%	122.01 28.70%
Very High Inflation	40.86 -56.90%	47.77 -49.61%	60.44 -36.24%	81.14 -14.41%	100.34 5.84%

Historical Consolidated Edison Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Consolidated Edison

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	4	Insider Trading
Mar 07, 2023	8-K	Current Report
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading

Latest Insider Trading transactions for ED

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-15	Miller Joseph	bought	89.9006	93.94	0.957	vp & controller
2023-02-28	Donnley Deneen L	bought	2,313	89.35	25.891	svp and general counsel
2023-02-28	Nadkarni Gurudatta D	bought	2,078	89.35	23.267	vp, strategic planning
2023-02-28	Ketschke Matthew	bought	111	89.35	1.244	president cecony
2023-02-28	HOGLUND ROBERT N	bought	2,314	89.35	25.907	svp & cfo
2023-02-28	Nachmias Stuart	bought	666	89.35	7.4612	president & ceo cet
2023-02-28	Shannon Nancy	bought	888	89.35	9.948	svp utility shared services
2023-02-28	Miller Joseph	bought	222	89.35	2.487	vp & controller
2023-02-28	Sanchez Robert	bought	2,311	89.35	25.866	president & ceo, o&r
2023-02-28	Cawley Timothy	bought	2,315	89.35	25.916	chairman, president, ceo

About Consolidated Edison

Timothy P. Cawley

www.conedison.com

13900

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 3.5 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 1,555 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 533 circuit miles of transmission lines; 15 transmission substations; 64 distribution substations; 87,564 in-service line transformers; 3,924 pole miles of overhead distribution lines; and 2,291 miles of underground distribution lines, as well as 4,350 miles of mains and 377,971 service lines for natural gas distribution. Further, the company owns, operates, and develops 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. The company was founded in 1823 and is based in New York, New York.

ED Income Statement

2022-12-31

Consolidated Income Statement - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING REVENUES
TOTAL OPERATING REVENUES	$ 15,670	$ 13,676	$ 12,246
OPERATING EXPENSES
Depreciation and amortization	2,056	2,032	1,920
Taxes, other than income taxes	3,005	2,810	2,575
TOTAL OPERATING EXPENSES	13,046	10,850	9,592
OPERATING INCOME	2,624	2,826	2,654
OTHER INCOME (DEDUCTIONS)
Investment income (loss)	20	(420)	(214)
Other income	402	22	23
Allowance for equity funds used during construction	19	21	17
Other deductions	(115)	(161)	(227)
TOTAL OTHER INCOME (DEDUCTIONS)	326	(538)	(401)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	2,950	2,288	2,253
INTEREST EXPENSE
Interest on long-term debt	987	930	915
Other interest	(99)	(14)	118
Allowance for borrowed funds used during construction	(36)	(11)	(14)
NET INTEREST EXPENSE	852	905	1,019
INCOME BEFORE INCOME TAX EXPENSE	2,098	1,383	1,234
INCOME TAX EXPENSE	498	190	90
NET INCOME	1,600	1,193	1,144
(Loss) Income attributable to non-controlling interest	(60)	(153)	43
NET INCOME	$ 1,660	$ 1,346	$ 1,101
Net income per common share — basic (in dollars per share)	$ 4.68	$ 3.86	$ 3.29
Net income per common share — diluted (in dollars per share)	$ 4.66	$ 3.85	$ 3.28
AVERAGE NUMBER OF SHARES OUTSTANDING — BASIC (in shares)	354.5	348.4	334.8
AVERAGE NUMBER OF SHARES OUTSTANDING — DILUTED (in shares)	355.8	349.4	335.7
Electric
OPERATING REVENUES
TOTAL OPERATING REVENUES	$ 10,522	$ 9,485	$ 8,730
Gas
OPERATING REVENUES
TOTAL OPERATING REVENUES	3,237	2,638	2,269
OPERATING EXPENSES
Operating costs	1,245	690	527
Steam
OPERATING REVENUES
TOTAL OPERATING REVENUES	593	532	508
Non-utility
OPERATING REVENUES
TOTAL OPERATING REVENUES	1,318	1,021	739
Purchased power
OPERATING EXPENSES
Operating costs	2,479	1,835	1,600
Fuel
OPERATING EXPENSES
Operating costs	356	229	156
Other operations and maintenance
OPERATING EXPENSES
Operating costs	$ 3,905	$ 3,254	$ 2,814

ED Balance Sheet

2022-12-31

Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and temporary cash investments	$ 1,282	$ 992
Accounts receivable - customers, less allowance for uncollectible accounts	2,192	1,943
Other receivables, less allowance for uncollectible accounts	164	298
Taxes receivable	10	13
Accrued unbilled revenue	702	662
Fuel oil, gas in storage, materials and supplies, at average cost	492	437
Prepayments	264	295
Regulatory assets	305	206
Restricted cash	0	154
Revenue decoupling mechanism receivable	164	190
Fair value of derivative assets	59	128
Assets held for sale	7,162	0
Other current assets	176	233
TOTAL CURRENT ASSETS	12,972	5,551
INVESTMENTS	841	853
UTILITY PLANT, AT ORIGINAL COST
General	4,205	4,170
TOTAL	57,337	54,239
Less: Accumulated depreciation	13,069	12,177
Net	44,268	42,062
Construction work in progress	2,484	2,152
NET UTILITY PLANT	46,752	44,214
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	13	4,194
Construction work in progress	1	188
NET PLANT	46,766	48,596
OTHER NONCURRENT ASSETS
Goodwill	408	439
Intangible assets, net of accumulated amortization of $297 and $228 in 2021 and 2020, respectively	0	1,293
Operating lease right-of-use-asset	568	809
Regulatory assets	3,974	3,639
Pension and Retiree Benefits	3,269	1,654
Fair value of derivative assets	85	77
Other deferred charges and noncurrent assets	182	205
TOTAL OTHER NONCURRENT ASSETS	8,486	8,116
TOTAL ASSETS	69,065	63,116
CURRENT LIABILITIES
Long-term debt due within one year	649	440
Term Loan	400	0
Notes payable	2,640	1,488
Accounts payable	1,955	1,497
Customer deposits	358	300
Accrued taxes	102	104
Accrued interest	153	151
Accrued wages	116	113
Fair value of derivative liabilities	42	152
Regulatory liabilities	374	185
System benefit charge	390	423
Operating lease liabilities	103	113
Liabilities held for sale	3,610	0
Other current liabilities	444	461
TOTAL CURRENT LIABILITIES	11,336	5,427
NONCURRENT LIABILITIES
Provision for injuries and damages	181	183
Pensions and retiree benefits	577	737
Superfund and other environmental costs	997	940
Asset retirement obligations	500	577
Fair value of derivative liabilities	13	84
Deferred income taxes and unamortized investment tax credits	7,641	6,873
Operating lease liabilities	476	717
Regulatory liabilities	6,027	4,381
Other deferred credits and noncurrent liabilities	281	257
TOTAL NONCURRENT LIABILITIES	16,693	14,749
TOTAL LONG-TERM DEBT EXCLUDING HELD FOR SALE	20,147	22,604
COMMITMENTS, CONTINGENCIES, AND GUARANTEES (Note B, Note G, and Note H)
EQUITY
Common shareholders’ equity	20,687	20,037
Noncontrolling interest	202	299
TOTAL EQUITY (See Statement of Equity)	20,889	20,336
TOTAL LIABILITIES AND EQUITY	69,065	63,116
Electric
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	36,819	34,938
Gas
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	13,378	12,303
Steam
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	$ 2,935	$ 2,828