Ameren (AEE) stock
Utilities · Multi-Utilities
Ameren (AEE) is a Multi-Utilities company in the Utilities sector, headquartered in St. Louis, Missouri. As of October 23, 2026, AEE closed at $108.04, a market capitalization of $29.91 billion, the 319th largest company in the S&P 500. Over the last twelve months it generated $8.41 billion in revenue (-6% year over year) and -$1.34 billion in free cash flow. The stock trades at 19.0x trailing earnings and 18.6x forward earnings.
- 1-year total return: +6.5% (dividends reinvested)
- 5-year return: +8.0% a year
- 52-week range: $96.57 – $118.32
- Gross margin 52.4%, operating margin 25.2%
- Dividend yield: 2.78%, 12 straight years of increases
- FI Handbook report card: C- across 10 metrics
- 16th largest of 31 Utilities stocks in the S&P 500
AEE price chart
1Y price change: +3.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| AEE | +8.3% | +10.5% | +6.5% | +16.4% | +8.0% | +11.5% | +8.1% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1998.
AEE key statistics
- Market cap
- $29.9B
- #319 in S&P 500
- P/E (TTM)
- 19.0x
- Forward P/E
- 18.6x
- EPS (TTM)
- $5.68
- Revenue (TTM)
- $8.4B
- -6%
- Free cash flow
- -$1.3B
- Gross margin
- 52.4%
- Operating margin
- 25.2%
- Return on equity
- 11.9%
- Dividend yield
- 2.78%
- 52-week range
- $96.57 – $118.32
- Beta
- 0.45
- Price / sales
- 3.6x
- EV / EBITDA
- 13.3x
- Debt / equity
- 1.58x
- Employees
- 8,913
AEE report card
C-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-6.2%F
- Gross margin52.4%B
- Operating margin25.2%B
- FCF margin-16.0%F
- Return on equity11.9%C
- Net debt / EBITDA5.6xF
- Forward P/E18.6xB
- PEG ratio2.5xD
- Shareholder yield2.8%C
- Share count change / yr1.8%D
Ameren financials
Revenue went from $6.1B in fiscal 2016 to $8.8B in fiscal 2025, growing 4.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.1B | $6.2B | $6.3B | $5.9B | $5.8B | $6.4B | $8.0B | $7.5B | $7.6B | $8.8B |
| Operating income | $1.3B | $1.4B | $1.4B | $1.3B | $1.3B | $1.3B | $1.5B | $1.6B | $1.5B | $2.0B |
| Net income | $653.0M | $523.0M | $821.0M | $834.0M | $877.0M | $995.0M | $1.1B | $1.2B | $1.2B | $1.5B |
| EPS (diluted) | $2.68 | $2.14 | $3.32 | $3.35 | $3.50 | $3.84 | $4.14 | $4.38 | $4.42 | $5.35 |
| Free cash flow | $41.0M | -$14.0M | -$116.0M | -$241.0M | -$1.5B | -$1.8B | -$1.1B | -$1.0B | -$1.6B | -$775.0M |
| Buybacks | $51.0M | $24.0M | $0 | $0 | — | — | — | — | — | — |
| Dividends paid | $416.0M | $431.0M | $451.0M | $472.0M | $494.0M | $565.0M | $610.0M | $662.0M | $714.0M | $768.0M |
| Diluted shares | 243.4M | 244.2M | 245.8M | 247.1M | 248.7M | 257.6M | 259.5M | 263.4M | 267.4M | 272.2M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into AEE?
A reverse DCF asks what growth the current price requires. With an enterprise value of $51.7B and -$1.3B of trailing free cash flow, Ameren needs to grow free cash flow at a rate outside our model for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 20.2x vs. median 21.7x (10th–90th percentile 16.8x–29.9x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
AEE dividend
- Dividend yield
- 2.78%
- Annual dividend
- $3.00
- Years of increases
- 12
- 5-yr dividend growth
- 7.3%
- per year
- Payout ratio
- 51%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
AEE analyst price targets
18 analysts' average 12-month target is $114.62 (+6% vs. $108.04). Targets range from $104.00 to $126.00. 58% rate it a buy.
AEE earnings
Next report: November 5, 2026. Ameren has beaten EPS estimates 6 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $1.08 | $1.13 | +4.2% |
| May 5, 2026 | $1.18 | $1.28 | +8.2% |
| Feb 11, 2026 | $0.77 | $0.78 | +1.4% |
| Nov 5, 2025 | $2.12 | $2.35 | +10.9% |
| Jul 31, 2025 | $0.99 | $1.01 | +1.7% |
| May 1, 2025 | $1.04 | $1.07 | +2.8% |
| Feb 13, 2025 | $0.78 | $0.77 | -1.2% |
| Nov 6, 2024 | $1.92 | $1.87 | -2.4% |
Stocks like AEE
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 NEE NextEra Energy | +0.24% | +1% | $172.2B | 14.8x | Compare |
 D Dominion Energy | -0.31% | +12% | $57.3B | 22.6x | Compare |
 SRE DBA Sempra | -0.84% | -6% | $55.0B | 24.3x | Compare |
 XEL Xcel Energy | -1.08% | +0% | $48.8B | 21.4x | Compare |
 ED Consolidated Edison | -0.45% | +19% | $42.8B | 19.1x | Compare |
 PCG Pacific Gas & Electric | -2.70% | -22% | $37.9B | 9.4x | Compare |
 DTE DTE Energy | -0.88% | -4% | $27.4B | 20.9x | Compare |
 CNP CenterPoint Energy, Inc (Holdin | -0.32% | +6% | $27.1B | 24.3x | Compare |
AEE news
- Ameren (AEE) Raises Dividend, Is The Stock Fairly Valued? · Oct 25, 2026
- Ameren (AEE) Stock Looks Overvalued After Its 57% Three Year Run · Oct 25, 2026
- Here's What to Expect From Ameren’s Next Earnings Report · Oct 24, 2026
- MISO selects consortium of Ameren, GridLiance, Dairyland to deliver foundational energy grid project in Iowa · Oct 22, 2026
- Ameren Likely to Report Q3 EPS 'Modestly Below' Consensus, BofA Securities Says · Oct 21, 2026
AEE stock FAQ
What is AEE's market cap?
Ameren's market capitalization is $29.91 billion as of October 23, 2026, ranking 319th in the S&P 500.
What is AEE's P/E ratio?
AEE trades at a trailing price-to-earnings ratio of 19.0x and a forward P/E of 18.6x. Its median P/E over the period we track is 21.7x.
Does AEE pay a dividend?
Yes. Ameren pays $3.00 per share a year, a 2.78% yield. It has raised its dividend 12 years in a row. Dividends grew 7.3% a year over the last five years.
How much has AEE stock returned?
Including reinvested dividends, AEE returned +6.5% over one year, +8.0% a year over five years, +11.5% a year over ten years through October 23, 2026.
What is the AEE price target?
18 analysts cover AEE with an average 12-month price target of $114.62, +6% from the current price. 58% of them rate it a buy.
When does AEE report earnings?
Ameren is expected to report earnings on November 5, 2026. It has beaten EPS estimates 6 quarters in a row.
How many employees does Ameren have?
Ameren has about 8,913 full-time employees, or $943,678 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology