EDConsolidated Edison
Is the business good?
The checks split: earnings fully cash-backed (1.6×), but margins compressing.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
A balanced mix of margins, efficiency, and leverage. ROE 8% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ED?
Consolidated Edison keeps 18% of every revenue dollar as operating profit, against 22% for the median Utilities - Regulated Electric name.
Operating margin · Utilities - Regulated Electric median 22% · 12 months to Q2 2026
- Cash conversion
- 1.63×
Cash conversion · 1.96× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +2.3%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 22% |
| FY2021 | 21% |
| FY2022 | 17% |
| FY2023 | 22% |
| FY2024 | 18% |
| FY2025 | 17% |
Details›
- Operating margin12 months to Q2 2026
- 18%
- Net margin12 months to Q2 2026
- 13%
- Revenue, trailing twelve months
- $17.7B
- Net income, trailing twelve months
- $2.22B
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Utilities, Regulated Electric
The closest names by size in the same industry