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Evergy, Inc. (EVRG)

Juste valeur
UtilitiesUtilities - Regulated ElectricUnited States

Fondamental

52

Prix

$78.44

Capitalisation boursière

$17.91B

Partie 1 · Ce que vaut l'entreprise

Vue d'ensemble

Evergy owns two regulated electric utilities, Evergy Kansas Central and Evergy Metro, that generate and deliver power to homes and businesses across Kansas and parts of Missouri, including the Kansas City area. Like other regulated utilities it does not compete for customers within its territory; instead it builds and maintains power plants and grid infrastructure and asks state regulators to approve the rates it can charge to recover those costs.

Comment l'entreprise gagne de l'argent

Customers pay metered rates set through regulatory rate cases, in which Evergy asks state commissions to approve charges that let it recover its costs and earn a set return on capital invested in generation and grid assets. In 2025 Evergy Kansas Central sought roughly $196 million in additional annual retail revenue through such a filing, and new rates from an earlier case added about $128 million during the year — illustrating how earnings growth is tied to the pace and outcome of these regulatory proceedings rather than to selling more electricity.

Avantage concurrentiel

Économies d'échelle · Étroit

Duplicating a power grid and generation fleet to compete for the same customers is not economically realistic, so Evergy operates as a practical monopoly within its service territory. The advantage is narrow rather than wide because state regulators, not the company, decide the prices it can charge and the profit it is allowed to earn.

Ce qui stimule la demande

Défensif

Electricity is a necessity that households and businesses keep buying regardless of economic conditions, so baseline demand is stable and driven mainly by weather and population trends rather than the business cycle. New large industrial and data-center customers, which Evergy has highlighted as a growth source, add a variable, less predictable layer on top of that stable base.

Principaux risques

  • Outcome and timing of rate cases — Earnings growth depends on Kansas and Missouri regulators approving the rate increases Evergy requests to recover its investments; a smaller or delayed approval slows growth directly.
  • Large capital investment program — Funding grid upgrades and new generation requires ongoing debt and equity financing; higher interest rates or construction cost inflation raise the cost of that program and pressure returns.
  • Weather dependence — Unusually mild winters or summers reduce heating and cooling demand and can lower revenue in a given period independent of the underlying customer count.
  • Large-load customers may not materialize as planned — New large industrial and data-center load is a highlighted growth driver, but such projects can be delayed, scaled back or cancelled, leaving planned grid investment ahead of actual demand.

Les arguments en faveur

Buyers argue that a regulated monopoly with predictable rate-case-driven earnings, now supplemented by new large industrial and data-center customers, offers steady growth largely insulated from the broader economic cycle.

Les arguments contre

Sellers fear that regulators could approve smaller or slower rate increases than the capital plan assumes, and that some of the large new customers driving the growth narrative fail to materialize at the scale currently projected.

Written by the editors, published on 18 août 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 18 septembre 2026 with claude-haiku-4-5 — shared with all users

P/E: 17.5Score: 66Market cap: $27.52B

The other large regulated electric utility in Missouri, answering to the same Missouri Public Service Commission and courting the same industrial and data-centre loads deciding where to site in the state.

P/E: 20.2Score: 58Market cap: $9.14B

A vertically integrated regulated electric utility next door in Oklahoma that bids into the same Southwest Power Pool marketplace where Evergy sells the power its retail customers do not absorb.

P/E: 17.6Score: 56Market cap: $63.97B

Through Public Service Company of Oklahoma and Southwestern Electric Power, it is an investor-owned member of the same Southwest Power Pool market and bids the same regional generation revenue.

P/E: 19.3Score: 56Market cap: $43.45B

Its Southwestern Public Service arm participates in the same SPP marketplace, and the group competes with Evergy for the regulatory approvals and investor capital that fund grid and generation build-out.

The Empire District Electric Company (Liberty Utilities)Not tracked

Serves electricity in southwest Missouri and southeast Kansas immediately alongside Evergy's territory, under the same two state regulators and inside the same SPP wholesale market.

Bilan & Liquidités

Chiffre d'affaires

$5.76B

12 derniers mois (au 31/03/2026)

Résultat net

$882M

12 derniers mois (au 31/03/2026)

Flux de trésorerie libre

$-752M

Capitaux propres totaux

$10.22B

Passif total

$23.68B

Ratio de liquidité général

0.45

Couverture des intérêts

2.44

Dette/EBITDA

5.74

Bénéfice par action

Chiffre d'affaires & Résultat net

Flux de trésorerie libre

Décomposition du résultat

État historique

Marges dans le temps

La dette dans le temps

Le poids de la dette

Grille de la croissance

Croissance — Chiffre d'affaires

Estimation de la juste valeur

Service public réguléJustement valorisé

Juste valeur

$67.57

Prix actuel

$78.44

Marge de sécurité

-16.1%

Fourchette de juste valeur

$49.64 - $85.49

Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.

Méthodes d'estimation

Objectif de cours des analystes:$91.27
Flux de trésorerie actualisés (DCF):$53.37
Multiple de résultat (P/E):$70.04
Formule de croissance de Graham:Non applicable à ce type d'entreprise
Valeur de la capacité bénéficiaire (EPV):$27.08
P/B justifié:Non applicable à ce type d'entreprise
Actualisation des dividendes (Gordon):$50.30
P/FFO, les fonds provenant de l'exploitation:Non applicable à ce type d'entreprise
Bénéfices de milieu de cycle:Non applicable à ce type d'entreprise
Multiple sur le chiffre d'affaires:Non applicable à ce type d'entreprise
Consensus des analystes:Achat fort (13B / 6H / 0S)
Dernière surprise sur les résultats:+4.01%

Indicateurs de valorisation

Ratio P/E

20.86

ROE

8.4%

Ratio P/B

1.78

P/FCF

-

Marge brute

-

ROIC

4.1%

Radar de rentabilité

Création de valeur (avantage concurrentiel)

ROIC

4.1%

WACC

5.8%

ROIC − WACC

-1.7 pp

Le ROIC est inférieur au coût du capital — l'entreprise détruit de la valeur pour chaque dollar investi.

Critères d'analyse fondamentale

Réussi (13)

  • EPS shows upward trend
  • P/B Ratio 1.78
  • Debt/Equity ratio
  • Operating Margin 27.1%
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Low reliance on intangibles
  • ROE 9.1%
  • Revenue Growth 5Y 76.4%
  • Analyst Consensus 68% Buy
  • Earnings Quality (OCF/NI) 2.22
  • Share Dilution 1.4%

Échoué (11)

  • EPS CAGR 4.66%
  • Price CAGR 3.36%
  • ROIC 4.1%
  • Positive Free Cash Flow
  • Current Ratio
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Earnings Surprise avg -5.5%
  • PEG Ratio 3.16
  • Net Margin Trend 15.3% vs 15.3%
  • Piotroski F-Score 3/9

Indisponible (4)

  • Gross Margin NaN%
  • P/FCF NaN
  • Dividend Payout NaN%
  • CapEx intensity

Score F de Piotroski

3/9

Préoccupations financières sérieuses

score
criteria

Qualité des bénéfices

2.22

Qualité élevée : bénéfices soutenus par la trésorerie

Dilution du capital

1.4%

Le nombre d'actions est stable

Participations institutionnelles

Gouvernance

Équipe dirigeante

NomTitreÂge
Mr. David A. Campbell J.D.CEO, President & Chairman of the Board57
Ms. Heather A. Humphrey J.D.Senior VP, General Counsel & Corporate Secretary54
Mr. Charles A. CaisleyExecutive Vice President of Utility Operations & Chief Customer Officer52
Mr. Cleveland O. Reasoner IIISenior VP & Chief Nuclear Officer59
Mr. Matthew B. GummigVP & Chief Accounting Officer39
Mr. Peter Francis FlynnDirector of Investor Relations-
Ms. Katie McDonaldVice President of Public Affairs-
Mr. John T. BridsonSenior Vice President of Generation & Operations Support56
Mr. Darrin R. IvesSenior Vice President of Regulatory & Government Affairs55
Ms. Kara LarsonVP, Chief Ethics Officer and Assistant General Counsel-

Risque d'audit

7

Risque du conseil

4

Risque de rémunération

1

Risque droits des actionnaires

4

Partie 2 · Le prix et le moment d'entrer

Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.

Documents

  • Rapport annuel (10-K)

    Un aperçu annuel de l'activité, des résultats financiers et des risques de l'entreprise.

    Déposé le 2026-02-19

    Voir le document
  • Rapport trimestriel (10-Q)

    Une mise à jour de la performance financière des trois derniers mois.

    Déposé le 2026-08-06

    Voir le document
  • Rapport d'événement important (8-K)

    Un avis concernant un événement important, comme un changement de direction ou une annonce majeure.

    Déposé le 2026-09-16

    Voir le document

via SEC EDGAR

Historique des résultats

via SEC EDGAR

Latest News

Recent headlines for EVRG, sourced from Markets Gazette.

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