Ameren Corp. (0HE2) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Ameren Corp. $97.63, price $100.00, upside -2.4%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Ameren Corp. for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $42.36 – $115.58 · fair‑value band $66.31 – $122.77 · the $100.00 price screens above the $97.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Follow Ameren in your weekly email
Every Wednesday you see whether Ameren is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission.
Show more
Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution business and natural gas transmission and distribution business. The company also generates electricity through coal, nuclear, and natural gas, as well as renewable energy, including hydroelectric, wind, methane gas, and solar energy centers. It serves residential, commercial, and industrial customers. Ameren Corporation was founded in 1881 and is headquartered in Saint Louis, Missouri.
Stock analysis
Ameren Corp. (0HE2) currently trades at $100.00, while our model-based Fair Value estimate is $97.63, so the stock looks roughly fairly valued today (gap 2.4%).
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of $97.63 per share, and 3 of the 12 models we run sit above the $100.00 price.
Bear case: the Earnings-Based group reads lowest at $33.27, and 9 of the 12 models stay below the price. Evidence for this calculation is medium.
Scenario range: $66.31 (bear) to $122.77 (bull), the price of $100.00 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Ameren Corp. reported revenue of $8.8B in FY2025 versus $6.4B in FY2021, a compound +8.3%/yr. Reported net income was $1.5B in FY2025, compounding +10.1%/yr from FY2021.
Key figures
Market cap $27.2B · P/E ratio 0.3 · P/S ratio 0.05 · EPS (TTM) $3.90 · Dividend yield 2.9% · Net margin 16.5% · Return on equity 11.8% · Return on assets (EBIT) 3.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at −2%, 0HE2 screens cheaper than that median.
Fair Value models
Bear $66.31Fair Value $97.63Bull $122.77
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.7713 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+15.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
Start year 2020 (pandemic). Over 10 years: +3.7% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+11.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
Dividend (yield on the price)2.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.8% vs 7.5%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.22% → 23%
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Multi-Utilities” was too small, so the broader sector is used.)Industrials · 5328 stocks
Beats the sector median on 7/10 measures
Overall it ranks above its sector peers.
Valuation
Quality Score46 · Below median
Fair Value upside−1.8% · Above median
Profitability
Return on equity (TTM)11.8% · Above median
Return on assets3.1% · Above median
Net margin (TTM)17.8% · Top 25%
Operating margin (TTM)27.8% · Top 25%
Growth and dividend
Revenue growth3.7% · Below median
Dividend yield (TTM)2.9% · Above median
Balance sheet
Debt / equity0.83× · Highest 25%
Valuation Multiplesvs Industrials median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Ameren Corp. Fair Value". https://www.fairvalue-calculator.com/stock/0HE2
Frequently asked questions
Is Ameren Corp. (0HE2) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $97.63 versus a price of $100.00, about −2% upside (fairly valued).
What is the fair value of 0HE2?
Our model-based fair value for Ameren Corp. is $97.63 (as of Sep 24, 2026), built from audited fundamentals. The current price: $100.00.
What is the quality score of 0HE2?
Ameren Corp. has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ameren Corp. (0HE2)?
Our model-based price target is the fair value of $97.63 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario $66.31, optimistic scenario $122.77. It is a calculation from audited fundamentals, not an analyst target.
What is the Ameren Corp. stock forecast for 2026?
Our models put fair value at $97.63, about −2% upside versus a price of $100.00 (fairly valued). Cautious scenario $66.31, optimistic scenario $122.77. The calculation is refreshed regularly with new filings.
What is the revenue of Ameren Corp. (0HE2)?
Ameren Corp. reported trailing-twelve-month revenue of about $8.5B (latest available figure, as of Sep 24, 2026).
Does Ameren Corp. pay a dividend?
Ameren Corp. currently shows a dividend yield of about 2.88% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Ameren Corp. (0HE2)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ameren Corp. it is $97.63 per share (as of Sep 24, 2026), against a price of $100.00. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Ameren Corp. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0HE2 trades above its calculated fair value: price $100.00, fair value $97.63, a gap of about −2% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0HE2?
No. The price is what the market pays today ($100.00); the fair value is what the company's own numbers justify ($97.63). For Ameren Corp. the two are $2.37 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ameren Corp. worth?
The market values Ameren Corp. at about $27.2B (market capitalisation, as of Sep 24, 2026). Per share that is $100.00; our models calculate a fair value of $97.63 per share.
What do the bullish and bearish scenarios say about 0HE2?
Our models span a range for Ameren Corp.: cautious scenario $66.31, base $97.63, optimistic $122.77 per share (as of Sep 24, 2026, price $100.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0HE2?
Ameren Corp. trades at a price-to-earnings ratio of 0.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $97.63 is built from several models across several years.
How solid is the balance sheet of Ameren Corp. (0HE2)?
Balance-sheet figures for Ameren Corp. (as of Sep 24, 2026): return on equity 11.8%, debt of 0.83 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 0HE2 from its 52-week high?
Ameren Corp. trades at $100.00, about 13% below its 52-week high of $115.58 and 4% above the low of $95.98 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $97.63 is for.
Which stocks are comparable to Ameren Corp.?
From the same area (Industrials) we also value DTB, Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ameren Corp. stock attractive at the current price?
The data as of Sep 24, 2026: price $100.00, calculated fair value $97.63 (−2%), Quality Score 46/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0HE2 calculated?
We run Ameren Corp. through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $97.63, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Ameren Corp. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ameren Corp. (0HE2)?
The closing price on Oct 2, 2026 was $100.00. Our model-based fair value is $97.63, about −2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ameren Corp. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($66.31 to $122.77) leaves room in how you read the outcome.
Where does the earnings growth of Ameren Corp. (0HE2) come from?
Earnings per share at Ameren Corp. grew +7.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.0 %, EBIT margin +0.0 %, tax rate +4.2 %, residual (interest, one-offs) +0.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Ameren Corp.
How large is the market capitalisation of Ameren Corp. (0HE2)?
The market capitalisation of Ameren Corp. is $27.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ameren Corp. (0HE2)?
The price-to-sales ratio of Ameren Corp. is 0.05 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ameren Corp. (0HE2)?
Earnings per share at Ameren Corp. are $3.90 (price ÷ EPS = P/E 0.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ameren Corp. (0HE2)?
The dividend yield of Ameren Corp. is 2.9% (payout 73.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Ameren Corp. (0HE2)?
The net margin of Ameren Corp. is 16.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ameren Corp. (0HE2)?
The return on equity (ROE) of Ameren Corp. is 11.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ameren Corp. (0HE2)?
On an EBIT basis the return on assets of Ameren Corp. is 3.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ameren Corp. (0HE2)?
The operating margin of Ameren Corp. is 27.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ameren Corp. (0HE2)?
Revenue at Ameren Corp. is growing +3.7% versus a year earlier (3y avg +3.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ameren Corp. (0HE2)?
Earnings per share at Ameren Corp. are growing +19.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ameren Corp. (0HE2) generate?
The free cash flow of Ameren Corp. is −$821M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ameren Corp. (0HE2) carry?
The net debt of Ameren Corp. is $19.8B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Ameren Corp. in the live analysis
One click puts Ameren Corp. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
