FirstEnergy Corporation (FE) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of FirstEnergy Corporation stock $23.46, price $47.18, that is 50.3% below the price, quality 41 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.
How to read this chart
60‑month range $28.78 – $50.88 · fair‑value band $16.90 – $29.79 · the $47.18 price screens above the $23.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 31, 2026.
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FirstEnergy Corp., together with its subsidiaries, engages in the generation, distribution, and transmission of electricity in the United States. It operates through Distribution, Integrated, and Stand-Alone Transmission segments.
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The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.
The company operates 252,959 distribution line miles and 24,157 transmission line miles, including overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits.
The company serves customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. FirstEnergy Corp. was incorporated in 1996 and is headquartered in Akron, Ohio.
Stock analysis
FirstEnergy Corporation (FE) currently trades at $47.18, while our model-based Fair Value estimate is $23.46, 50% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $26.82 per share, and 0 of the 14 models we run sit above the $47.18 price.
Bear case: the Asset-Based group reads lowest at $7.98, and 14 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $16.90 (bear) to $29.79 (bull), the price of $47.18 sits above 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 41/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
FirstEnergy Corporation reported revenue of $15.1B in FY2025 versus $11.1B in FY2021, a compound +7.9%/yr. Reported net income was $1.0B in FY2025, compounding −5.6%/yr from FY2021.
Key figures
Market cap $27.3B Large · P/E ratio 25.2 · P/S ratio 1.70 · EPS (TTM) $1.87 · Dividend yield 3.8% · Net margin 7.5% · Return on equity 10.0% · Return on assets (EBIT) 4.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 10% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −38% fair-value upside, at −50%, FE screens richer than that median.
Fair Value models
Bear$16.90Fair Value $23.46Bull$29.79
Price $47.18 · Downside -50.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.0595 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.Coverage ⓘCoverage = 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.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleJames F OneilDirector7,945 shares at $50.60$402,017Mar 11, 2026
SaleJon Taylor K.SVP, CFO and Strategy26,800 shares at $50.94$1.4MMar 10, 2026
SaleJason LisowskiVP, Controller & CAO4,373 shares at $50.84$222,308Mar 6, 2026
Plus 3 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
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.35/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+12.0%
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.
+6.6%
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.
+6.9%
Start year 2020 (pandemic). Over 10 years: +0.0% 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.
+6.2%
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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. Basis: adjusted.
+15.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.2%
Dividend (yield on the price)3.8%
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.−2.3% vs 5.5%, slowing
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.20% → 19%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 4.1%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Extensive transmission and distribution network positions the company to capture data center load growth, yet the regulated model caps returns while high leverage and negative free cash flow persist.
Main risk: New FERC regulations on interconnecting AI data centers and hybrid facilities might not allow full recovery of transmission network upgrade costs and could affect the company's transmission investment strategy and margins.
Bull case: Constructive outcomes in rate cases and FERC proceedings could enable timely recovery of transmission investments and could allow the company to capture data center load growth within its regulated framework.
Bear case: Unfavorable FERC or state regulatory decisions could constrain cost recovery on upgrades and could limit the ability to fund and earn returns on the transmission buildout needed for load growth.
FirstEnergy operates one of the largest transmission and distribution networks in the US, now seeing contracted and pipeline data center demand surge to 24.8 gigawatts in the second quarter. Heavy investment in grid upgrades aims to capture that load growth, yet the regulated model caps returns while past issues linger. Will the data center tailwind lift core earnings enough to overcome regulatory limits, or will execution stay constrained?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 156 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score41 · Below median
Fair Value upside−50.3% · Bottom 25%
Profitability
Return on equity (12 months)10.0% · Above median
Return on assets1.8% · Bottom 25%
Net margin (12 months)7.5% · Below median
Operating margin (12 months)20.5% · Above median
Growth and dividend
Revenue growth (quarter YoY)9.9% · Above median
Dividend yield (12 months)3.8% · Above median
Balance sheet
Debt / equity2.04× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
P/E (12 months)25.2× · Priciest 25%
P/B2.18× · Pricier than median
P/S (12 months)1.70× · Pricier than median
EV/EBITDA10.1× · Pricier than median
PEG1.55× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 13
FUTURE (revenue growth)50· sector 22
PAST (return on equity)40· sector 39
HEALTH (low debt)0· sector 52
DIVIDEND (yield)76· sector 63
VALUE 0: the price sits above our fair-value range.
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). "FirstEnergy Corporation Fair Value". https://www.fairvalue-calculator.com/stock/FE
Frequently asked questions
Is FirstEnergy Corporation (FE) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of $23.46 versus a price of $47.18, about 50% lower (overvalued).
What is the fair value of FE?
Our model-based fair value for FirstEnergy Corporation is $23.46 (as of Oct 31, 2026), built from audited fundamentals. The current price: $47.18.
What is the quality score of FE?
FirstEnergy Corporation has a Quality Score of 41/100. 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 FirstEnergy Corporation (FE)?
Our model-based price target is the fair value of $23.46 (as of Oct 31, 2026) from 14 valuation models. Cautious scenario $16.90, optimistic scenario $29.79. It is a calculation from audited fundamentals, not an analyst target.
What is the FirstEnergy Corporation stock forecast for 2026?
Our models put fair value at $23.46, about 50% lower versus a price of $47.18 (overvalued). Cautious scenario $16.90, optimistic scenario $29.79. The calculation is refreshed regularly with new filings.
What is the revenue of FirstEnergy Corporation (FE)?
FirstEnergy Corporation reported trailing-twelve-month revenue of about $16.0B (latest available figure, as of Oct 31, 2026).
Does FirstEnergy Corporation pay a dividend?
FirstEnergy Corporation currently shows a dividend yield of 3.82% relative to its recent price (as of Oct 31, 2026).
What is the intrinsic value of FirstEnergy Corporation (FE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FirstEnergy Corporation it is $23.46 per share (as of Oct 31, 2026), against a price of $47.18. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is FirstEnergy Corporation stock overvalued or undervalued in 2026?
As of Oct 31, 2026, FE trades above its calculated fair value: price $47.18, fair value $23.46, a gap of about −50% (overvalued). 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 FE?
No. The price is what the market pays today ($47.18); the fair value is what the company's own numbers justify ($23.46). For FirstEnergy Corporation the two are $23.72 per share apart. That gap is exactly why we show both numbers side by side.
How much is FirstEnergy Corporation worth?
The market values FirstEnergy Corporation at about $27.3B (market capitalisation, as of Oct 31, 2026). Per share that is $47.18; our models calculate a fair value of $23.46 per share.
What do the bullish and bearish scenarios say about FE?
Our models span a range for FirstEnergy Corporation: cautious scenario $16.90, base $23.46, optimistic $29.79 per share (as of Oct 31, 2026, price $47.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FE?
FirstEnergy Corporation trades at a price-to-earnings ratio of 25.2 (as of Oct 31, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $23.46 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 18.5 (reported for FY2025: 26.7). Median P/E at fiscal year-end, 8 fiscal years (2018 to 2025), earnings ex one-offs: 18.5. Other multiples: PEG 1.6, P/B 2.2, P/S 1.7, EV/EBITDA 10.1.
What is the PEG ratio of FE?
The PEG ratio of FirstEnergy Corporation is 1.55 (P/E divided by earnings growth, as of Oct 31, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of FirstEnergy Corporation (FE)?
Balance-sheet figures for FirstEnergy Corporation (as of Oct 31, 2026): return on equity 10.0%, debt of 2.04 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is FE from its 52-week high?
FirstEnergy Corporation trades at $47.18, about 7% below its 52-week high of $50.88 and 10% above the low of $42.74 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $23.46 is for.
Which stocks are comparable to FirstEnergy Corporation?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 FirstEnergy Corporation stock attractive at the current price?
The data as of Oct 31, 2026: price $47.18, calculated fair value $23.46 (−50%), Quality Score 41/100, from 14 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 FE calculated?
We run FirstEnergy Corporation through 14 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 $23.46, 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 15.0% above its aggregate fair value. FirstEnergy Corporation 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 FirstEnergy Corporation (FE)?
The closing price on Nov 4, 2026 was $47.18. Our model-based fair value is $23.46, about 50% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FirstEnergy Corporation right now?
The price sits above even our optimistic bull case ($29.79). The favourable scenario is already priced in. Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of FirstEnergy Corporation (FE) come from?
Earnings per share at FirstEnergy Corporation grew +5.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −4.1 %, EBIT margin +5.2 %, tax rate +0.1 %, residual (interest, one-offs) +4.9 %. 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 FirstEnergy Corporation
How large is the market capitalisation of FirstEnergy Corporation (FE)?
The market capitalisation of FirstEnergy Corporation is $27.3B. 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 FirstEnergy Corporation (FE)?
The price-to-sales ratio of FirstEnergy Corporation is 1.70 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of FirstEnergy Corporation (FE)?
Earnings per share at FirstEnergy Corporation are $1.87 (price ÷ EPS = P/E 25.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of FirstEnergy Corporation (FE)?
The dividend yield of FirstEnergy Corporation is 3.8% (payout 66.6%, on adjusted earnings, reported 96.3%). 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 FirstEnergy Corporation (FE)?
The net margin of FirstEnergy Corporation is 7.5% (last twelve months). 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 FirstEnergy Corporation (FE)?
The return on equity (ROE) of FirstEnergy Corporation is 10.0% (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 FirstEnergy Corporation (FE)?
On an EBIT basis the return on assets of FirstEnergy Corporation is 4.4% (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 FirstEnergy Corporation (FE)?
The operating margin of FirstEnergy Corporation is 20.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FirstEnergy Corporation (FE)?
Revenue at FirstEnergy Corporation is growing +9.9% versus a year earlier (3y avg +6.6%). 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 FirstEnergy Corporation (FE)?
Earnings per share at FirstEnergy Corporation are growing +26.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does FirstEnergy Corporation (FE) generate?
The free cash flow of FirstEnergy Corporation is −$1.0B (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 FirstEnergy Corporation (FE) carry?
The net debt of FirstEnergy Corporation is $27.0B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Oct 31, 2026