NRG Energy

NRA.DE

Independent Power Producers · Utilities

Price

€97.10

-1.83 (-1.85%)

Market Cap

€20.49B

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Strong

Stability

Weak

Valuation

Strong

Dividends

Weak

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Share count falling — buybacks

−18.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 245.0M (2021) → 199.0M (2025)

Winston Score History

The full picture

NRG Energy is a large American power company that generates and sells electricity to homes and businesses across the United States. It owns and operates power plants that run on natural gas, coal, oil, and renewable sources. NRG also sells electricity and natural gas directly to retail customers under brands like Reliant and Green Mountain Energy.

NRG makes money by generating electricity and selling it on wholesale markets, and by selling energy plans directly to retail customers on fixed or variable-rate contracts. The company operates mainly in the U.S., serving roughly 6 million customers, making it one of the largest competitive retail energy providers in the country. Its retail business provides more stable, recurring revenue compared to pure power generators, but NRG carries significant debt, and its margins remain thin — meaning rising fuel costs or falling electricity prices can quickly squeeze profits.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+474.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

4.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$162M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

NRG Energy is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

26.9%

Modest — 26.9% gross margin

Profit after running costs

Operating Margin

12.8%

Healthy — 12.8% operating margin

Return on the money invested

ROCE

7.2%

Weak — 7.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+12.7%

Fast-growing sales (+12.7% YoY)

Profit growth

EPS YoY

+65.9%

Earnings growing fast (+65.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

183%

Turns 183% of profit into real cash

Spare cash per sale

FCF Margin

0.9%

Thin free cash flow (0.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

4.79

Heavy debt load (4.79)

Covers its interest

Interest Cover

1.96x

Dangerous — barely covers interest (2.0x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

25.6x

Growth-priced — P/E 25.6

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+16.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (25.6 → 9.6)

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Dividends

Dividend

Dividend Yield

1.68%

Small dividend — 1.68% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+1.4%

Dividend flat

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