Ameren Corp
Exchange: NYSESector: UtilitiesIndustry: Utilities - Regulated Electric
St. Louis-based Ameren Corporation powers the quality of life for 2.5 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric transmission and distribution service and natural gas distribution service. Ameren Missouri provides electric generation, transmission and distribution service, as well as natural gas distribution service. Ameren Transmission Company of Illinois develops, owns and operates rate-regulated regional electric transmission projects in the Midcontinent Independent System Operator, Inc. SOURCE Ameren Corporation
Did you know?
Net income compounded at 9.9% annually over 6 years.
Current Price
$111.68
+0.80%GoodMoat Value
$97.81
12.4% overvaluedProfile
Valuation (TTM)
Market Cap$30.21B
P/E20.75
EV$48.73B
P/B2.25
Shares Out270.49M
P/Sales3.43
Revenue$8.80B
EV/EBITDA12.57
Ameren Corp (AEE) Stock Analysis
GoodMoat Analysis
Ameren Corp is a regulated electric utility with a stable, regulated moat but low growth and quality metrics. It currently trades at a slight premium to the GoodMoat target price, indicating an unfavourable valuation for a value investor seeking a margin of safety.
Read full analysis
Ameren Corp operates regulated electric and gas utilities in Missouri and Illinois. Its primary competitive advantage stems from its status as a regulated monopoly, which aligns with the 'Regulatory Barriers' criterion in the Moat framework. This provides a stable, predictable business but does not typically generate the high returns on capital associated with a wide moat. Applying the GoodMoat framework, Ameren's Moat Score is likely low (well below the 5+ threshold), as it lacks other durable advantages like network effects or proprietary technology. Its Quality Indicators are also weak: revenue growth is negative (-8.8% YoY), Free Cash Flow Yield is negative (-2.8%), and Return on Equity (10.9%) is below the high-return threshold of 15-20%. The Debt/Equity ratio of 1.48 indicates a leveraged balance sheet.
According to the Decision Framework, the business likely fails the 'Moat & Quality Gate' (Step 1), as the Moat Score is below 5 and multiple quality metrics are unfavourable. This disqualifies it from further valuation analysis under the framework's rules. Even if one proceeded, the current price of $107.8 is above the GoodMoat target of $97.81, offering no margin of safety. For a value investor focused on durable advantages and financial strength, Ameren's profile of low growth, high capital intensity, and regulated returns makes it an unfavourable candidate for deeper investigation compared to businesses with stronger moats and quality scores.
Analysis based on data as of 2024-05-15.
Market Cap$30.21B
Current Price$111.68
P/E Ratio20.75
Forward P/E—
PEG Ratio1.07
EPS$5.38
Book Value$49.54
P/B Ratio2.25
AEE Financial Charts
FCF vs CAPEX
FCFCAPEX
Cash vs Debt
Net Debt: 19.8B
Revenue
5.9B
FY19
5.8B
FY20
6.4B
FY21
8.0B
FY22
7.5B
FY23
7.6B
FY24
8.8B
FY25
Net Income
828M
FY19
871M
FY20
990M
FY21
1.1B
FY22
1.2B
FY23
1.2B
FY24
1.5B
FY25
AEE 52-Week Range
$91.58
$112.86
50-Day MA: $108.05200-Day MA: $101.50
Did you know?
AEE's revenue grew at a 6.9% CAGR over the last 6 years.
Ameren Corp (AEE) Financial Summary
Ameren Corp (AEE) is a Utilities company in the Utilities - Regulated Electric industry, listed on NYSE. The stock currently trades at $111.68 with a market capitalization of $30.21B.
Key valuation metrics include a P/E ratio of 20.75, price-to-book ratio of 2.25, and EPS of $5.38. The company reports a profit margin of 16.5% and return on equity of 10.9%.
AEE Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $30.21B |
| P/E Ratio | 20.75 |
| EPS | $5.38 |
| P/B Ratio | 2.25 |
| P/S Ratio | 3.43 |
| EV/EBITDA | 12.57 |
| Dividend Yield | 2.54% |
| Profit Margin | 16.5% |
| Return on Equity | 10.9% |
| Debt/Equity | 1.48 |
AEE Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $5.91B | $828.00M |
| FY20 | $5.79B | $871.00M |
| FY21 | $6.39B | $990.00M |
| FY22 | $7.96B | $1.07B |
| FY23 | $7.50B | $1.15B |
| FY24 | $7.62B | $1.18B |
| FY25 | $8.80B | $1.46B |
Ameren Corp (AEE) Valuation
Based on GoodMoat's DCF model, Ameren Corp has a fair value estimate of $97.81. At the current price of $111.68, the stock appears 14.2% overvalued relative to our intrinsic value estimate.
AEE Quality Indicators
Ameren Corp maintains a profit margin of 16.5% and an operating margin of 23.0%. Return on equity stands at 10.9%. The current ratio is 0.66. Debt-to-equity ratio is 1.48.
About Ameren Corp
St. Louis-based Ameren Corporation powers the quality of life for 2.5 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric transmission and distribution service and natural gas distribution service. Ameren Missouri provides electric generation, transmission and distribution service, as well as natural gas distribution service. Ameren Transmission Company of Illinois develops, owns and operates rate-regulated regional electric transmission projects in the Midcontinent Independent System Operator, Inc. SOURCE Ameren Corporation
AEE Free Cash Flow
Ameren Corp generated $-821.00M in trailing twelve-month free cash flow, representing an FCF yield of -2.72%. This low FCF yield may reflect heavy reinvestment or growth spending.
AEE Shares Outstanding
Ameren Corp has 0.27 billion shares outstanding at a share price of $111.68, giving it a market capitalization of $30.21B.
AEE Recent Insider Trades
Recent insider transactions at Ameren Corp include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Martin Ryan J (SVP Finance) | SELL | 1,300 | $147303.00 |
| LYONS MARTIN J (Chairman, President & CEO) | SELL | 26,818 | $3.00M |
| Schukar Shawn E | SELL | 4,975 | $556404.00 |