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ED

Consolidated Edison Inc

US$103.39-0.11% (-US$0.11)
Day's range
US$103.03 – US$104.48
Day's volume
US$270.8m
52-week range
US$93.02 – US$113.57

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ED in numbers

Market cap
US$38.1bn
P/E
284.30
P/B
1.49
Dividend yield (12m)
3.40%
Net debt/EBITDA
0.14

The 12-month dividend yield of ED is 3.40%, below its 5-year average of 3.53%.

ED price history

03/10/202502/10/2026
Compare with

ED risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+5.56%+25.91%+56.73%
Volatility (annualised)13.30%16.33%17.97%
Largest drawdown-8.19%-13.57%-13.57%
Positive months5/1219/3632/60

How much did investing in ED return?

US$1,000.00 invested on 01/11/2021 would be worth US$1,567.31 today.

Value today in ED
US$1,567.31
Return over the period
+56.73%
Return per year
+9.57%
In the S&P 500
US$1,690.98

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

ED fundamentals

Valuation

  • P/E
    284.30
  • P/B
    1.49
  • EV/EBITDA
    7.30
  • EV/EBIT
    13.00
  • EV/Revenue
    2.23
  • P/EBIT
    12.76
  • P/S
    2.19
  • P/OCF
    9.21
  • P/FCF
    —
  • Earnings yield
    7.69%
  • PEG ratio
    —
  • Earnings per share
    US$0.36
  • Book value per share
    US$69.45

Debt

  • Net debt
    US$722m
  • Net debt/EBITDA
    0.14
  • Net debt/Equity
    0.03
  • Debt/Equity
    0.03
  • Current ratio
    1.19
  • Quick ratio
    —
  • Cash ratio
    0.03

Efficiency

  • Gross margin
    —
  • EBITDA margin
    30.57%
  • Operating margin
    17.17%
  • Net margin
    0.77%
  • Asset turnover
    0.23

Profitability

  • ROE
    0.52%
  • ROA
    0.18%
  • ROIC
    8.76%
  • Payout
    966.26%

Growth

  • Revenue CAGR (5 years)
    6.88%
  • Earnings CAGR (5 years)
    -34.89%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is ED's fair price?

Two classic value formulas, with today's numbers. The current price is US$103.39.

Graham's fair price
US$23.84
76.94% below the price

√(22.50 × US$0.36 × US$69.45)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$54.07
47.71% below the price

US$3.24 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

ED indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E17,735.5916,998.4012,477.5920,385.1422,445.0222.4822.4817.76
P/B1.481.411.491.641.511.311.681.47
EV/EBITDA11.4311.7110.4812.6211.0610.4311.6710.82
Dividend yield3.42%3.72%3.56%3.32%3.63%4.23%3.27%3.74%
Earnings per shareUS$0.01US$0.01US$0.01US$0.00US$0.00US$3.22US$4.02US$4.30
Book value per shareUS$66.96US$63.34US$61.24US$58.27US$56.59US$55.04US$53.99US$52.09
ROE0.01%0.01%0.01%0.01%0.01%5.84%7.45%8.26%
ROIC4.73%4.78%6.02%4.36%5.59%5.89%5.73%5.65%
EBITDA margin30.83%31.19%36.11%30.28%36.10%38.03%35.90%34.39%
Net margin0.01%0.01%0.02%0.01%0.01%9.16%11.06%11.59%
Net debt/EBITDA4.605.304.475.384.855.024.744.83

ED financial statements

Line202520242023202220212020
Net revenueUS$17bnUS$15.5bnUS$14.5bnUS$15.5bnUS$13.5bnUS$12bn
Cost of sales——————
Gross profit——————
EBITDAUS$5.3bnUS$4.8bnUS$5.2bnUS$4.7bnUS$4.9bnUS$4.6bn
EBITUS$2.9bnUS$2.7bnUS$3.2bnUS$2.6bnUS$2.8bnUS$2.7bn
Net finance resultUS$895mUS$655mUS$830mUS$326m-US$538m-US$401m
Profit before taxUS$2.6bnUS$2.1bnUS$3bnUS$2.1bnUS$1.4bnUS$1.2bn
Income tax-US$574m-US$318m-US$487m-US$498m-US$190m-US$90m
Net incomeUS$2mUS$1.8mUS$2.5mUS$1.7mUS$1.3mUS$1.1bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does ED pay dividends?

Dividend yield per year

  • 3.25%2017
  • 3.74%2018
  • 3.27%2019
  • 4.23%2020
  • 3.63%2021
  • 3.32%2022
  • 3.56%2023
  • 3.72%2024
  • 3.42%2025
  • 2.58%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend18/08/202615/09/2026US$0.89
Dividend12/05/202615/06/2026US$0.89
Dividend17/02/202616/03/2026US$0.89
Dividend18/11/202515/12/2025US$0.85
Dividend12/08/202515/09/2025US$0.85
Dividend13/05/202516/06/2025US$0.85
Dividend18/02/202514/03/2025US$0.85
Dividend12/11/202416/12/2024US$0.83
Dividend13/08/202416/09/2024US$0.83
Dividend13/05/202414/06/2024US$0.83
Dividend12/02/202415/03/2024US$0.83
Dividend13/11/202315/12/2023US$0.81
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend14/08/202315/09/2023US$0.81
Dividend15/05/202315/06/2023US$0.81
Dividend13/02/202315/03/2023US$0.81
Dividend14/11/202215/12/2022US$0.79
Dividend15/08/202215/09/2022US$0.79
Dividend16/05/202215/06/2022US$0.79
Dividend14/02/202215/03/2022US$0.79
Dividend15/11/202115/12/2021US$0.78
Dividend16/08/202115/09/2021US$0.78
Dividend17/05/202115/06/2021US$0.78
Dividend15/02/202115/03/2021US$0.78
Dividend16/11/202015/12/2020US$0.77
Dividend17/08/202015/09/2020US$0.77
Dividend11/05/202015/06/2020US$0.77
Dividend17/02/202016/03/2020US$0.77
Dividend11/11/201916/12/2019US$0.74
Dividend12/08/201916/09/2019US$0.74
Dividend13/05/201917/06/2019US$0.74
Dividend11/02/201915/03/2019US$0.74
Dividend12/11/201817/12/2018US$0.72
Dividend13/08/201817/09/2018US$0.72
Dividend14/05/201815/06/2018US$0.72
Dividend12/02/201815/03/2018US$0.72
Dividend13/11/201715/12/2017US$0.69
Dividend11/08/201715/09/2017US$0.69
Dividend12/05/201715/06/2017US$0.69
Dividend10/02/201715/03/2017US$0.69
Dividend11/11/201615/12/2016US$0.67

About Consolidated Edison

Sector
Transportation and utilities

Questions about ED

How much is ED today?

ED is at US$103.39 (-0.11% on the day), last traded on 02/10/2026.

How much did ED pay in dividends in 2025?

ED paid US$3.40 per share in 2025, a dividend yield of 3.42%.

What are the P/E and P/B of ED?

ED trades at a P/E of 284.30 and a P/B of 1.49.

How much did ED return in 12 months?

ED returned 5.56% in 12 months, with annualised volatility of 13.30% and a largest drawdown of -8.19%.