Consolidated Edison, Inc.
$104.06
+0.56%Consolidated Edison, Inc., through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.5 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,555 customers in parts of Manhattan. The company also supplies electricity to approximately 0.3 million customers in southeastern New York and northern New Jersey; and gas to approximately 0.1 million customers in southeastern New York. In addition, it operates 533 circuit miles of transmission lines; 15 transmission substations; 64 distribution substations; 87,564 in-service line transformers; 3,924 pole miles of overhead distribution lines; and 2,291 miles of underground distribution lines, as well as 4,350 miles of mains and 377,971 service lines for natural gas distribution. Further, the company owns, operates, and develops renewable and energy infrastructure projects; and provides energy-related products and services to wholesale and retail customers, as well as invests in electric and gas transmission projects. It primarily sells electricity to industrial, commercial, residential, and government customers. The company was founded in 1823 and is based in New York, New York.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is mid-range (P/E 18.4).
Valuation inputs: P/E 18.4, earnings yield +5.4%, momentum +0.6%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +8.4%, ROIC +3.2%).
Profitability stack: net margin +12.0%, ROE +8.4%, ROIC +3.2%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +67.6%, momentum +0.6%, net margin +12.0%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Consolidated Edison, Inc. Market vs Earnings Trajectory
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Consolidated Edison, Inc. Fair Value Envelope
Consolidated Edison, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Healthy operating margins demonstrate effective cost control and strong business fundamentals.
Net Profit Margin
Strong net margins indicate efficient operations and favorable tax/interest management.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.
Consolidated Edison, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.
CapEx Intensity
Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extension—monitor closely.
Cash Flow Quality Insight
Capital-intensive growth: Heavy reinvestment limits current cash available but may drive future returns. Assess whether CapEx supports compelling growth opportunities with adequate ROI.
Consolidated Edison, Inc. Funding & Solvency Profile
Financial Health Analysis
Working Capital
Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.
Asset Composition
Consolidated Edison, Inc. Street Expectations Map
Wall Street analysts project that ED stock may experience modest gains over the coming 12 months. The consensus 1-year price target stands at 107.36, with estimates ranging from a low of 97.00 to a high of 118.00.
The consensus 1-year price target stands at 107.36, with estimates ranging from a low of 97.00 to a high of 118.00.
Analyst Consensus Analysis
Upside Potential
Fair value territory. Stock trading near consensus target suggests limited near-term catalysts. Focus on fundamental developments.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Risk-Reward Profile
Balanced risk-reward. Upside and downside potential relatively symmetric. Suitable for moderate risk tolerance with conviction in thesis.
Analyst Conviction
Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.
Market Sentiment Insight
Efficient pricing: Stock trading at fair value with strong consensus suggests market has priced in expectations. Look for fundamental inflection points or new catalysts to drive meaningful moves.
Consolidated Edison, Inc. Insider Positioning
During the last 12 months, insiders have purchased $194 and sold $1.33M worth of ED shares, resulting in $1.33M of net selling activity.
3 Months
0
0.00
1.9K
218.99K
-219K
-$219K
3-6 Months
1
97.00
10.2K
1.11M
-1.1M
-$1.11M
6-9 Months
1
97.00
0
0.00
+97
+$97
9-12 Months
0
0.00
0
0.00
+0
+$0
Top Buyers
Miller Joseph
Officer: Vp & Controller
$194
Top Sellers
Mulrow William J
Director
$893K
Killian John F
Director
$221K
Donnley Deneen L
Officer: Svp And General Counsel
$219K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $1.33M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
3 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.
Insider Activity Insight
Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.
ed Dividend History
Learning Layer
Related Guides
Build conviction on ED by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.