At a glance
Edison International is worth $22.98B, about 5 times its fiscal 2025 earnings. Revenue grew 9.8% to $19.32B in fiscal 2025, with 23.1% kept as profit; over 5 years it has grown 7.3% a year. It pays a 5.9% dividend yield, raised every year for at least 9 years, and returned $5.85B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +13.9% over the past year with dividends reinvested and +3.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 42.7% in the 2020 crash (S&P 500: 33.7%) and 22.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 24 months and 6 months after the lows.
The business in plain English
Edison International is a holding company whose main business is Southern California Edison (SCE), a regulated electric utility it wholly owns. SCE delivers electricity to homes and businesses across Southern California, purchases power for many of those customers and runs the transmission and distribution lines that carry it. The parent has no material operations of its own and relies mainly on SCE's earnings and cash flow.
Regulators decide what SCE can charge: the California Public Utilities Commission (CPUC) and, for transmission, the Federal Energy Regulatory Commission (FERC). Rates are meant to cover costs, including power purchased for customers, and to provide a return on rate base, the money SCE has invested in its system. Not all spending earns a full return: under state wildfire laws, $1.6 billion of wildfire-safety spending, plus an expected $2.9 billion approved starting in 2026, is excluded from the equity portion of rate base. Revenue was $19.3 billion in fiscal 2025 (the year ended December 31, 2025).
SCE also owns 15.8% of the Palo Verde nuclear plant near Phoenix and 78.21% of San Onofre, a retired nuclear plant in San Clemente that is being decommissioned. It also supplies water and propane gas on Catalina Island. The company describes its business as concentrated in one industry and one region.
Price history
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EIX +13.9% over the year to Nov 2, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $4.89B, down 15% from a year earlier, and net income was $724.0M (-13.0%).
- For fiscal 2025, revenue was $19.32B (+9.8% year over year; +7.3% a year from FY2020 to FY2025) with a 23.1% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +7.3% good |
|---|---|
| Operating margin | 36.7% good |
| Free cash flow margin | -3.7% weak |
| Return on equity (FY2025) | 25.4% good |
| Return on assets (FY2025) | 4.7% watch |
| Net cash (cash minus debt) | $-36.69B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $13.58B | $739.0M | $-4.22B |
| FY2021 | $14.90B | $759.0M | $-5.49B |
| FY2022 | $17.22B | $612.0M | $-2.56B |
| FY2023 | $16.34B | $1.20B | $-2.05B |
| FY2024 | $17.60B | $1.28B | $-693.0M |
| FY2025 | $19.32B | $4.46B | $-715.0M |
Valuation snapshot
| Market value | $22.98B |
|---|---|
| P/E ratio | 5.2 |
| Dividend yield | 5.9% |
Rank among 1514 US companies
Market value at each year end
Edison International’s market value went from $23.46B at the end of 2016 to $22.98B on Nov 2, 2026, down 2%; since the end of 2025 it is down 1%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $22.98B | -0.5% |
| 2025 | $23.09B | -25.3% |
| 2024 | $30.91B | +12.7% |
| 2023 | $27.42B | +12.9% |
| 2022 | $24.29B | -6.3% |
| 2021 | $25.93B | +9.0% |
| 2020 | $23.78B | -12.1% |
| 2019 | $27.04B | +46.2% |
| 2018 | $18.50B | -10.2% |
| 2017 | $20.60B | -12.2% |
| 2016 | $23.46B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| EIX price data to Nov 2, 2026 | +5.1% | +13.9% | +3.1% | +3.7% | +2.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +5.1% |
| 2025 | -20.4% |
| 2024 | +15.2% |
| 2023 | +17.4% |
| 2022 | -2.5% |
| 2021 | +13.6% |
| 2020 | -12.8% |
| 2019 | +37.6% |
| 2018 | -6.7% |
| 2017 | -8.9% |
| 2016 | +24.9% |
| 2015 | -6.9% |
| 2014 | +45.1% |
| 2013 | +5.5% |
| 2012 | +12.4% |
| 2011 | +10.9% |
| 2010 | +15.1% |
| 2009 | +12.5% |
| 2008 | -38.0% |
| 2007 | +19.9% |
| 2006 | +7.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 56.9% over that stretch · deepest drop along the way 57.7%, back to its old high 47.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 42% over that stretch · deepest drop along the way 42.7%, back to its old high 24.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 14.9% over that stretch · deepest drop along the way 22%, back to its old high 5.6 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 3 sales ($103K), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jul 13, 2026 | Peter J. Taylor Director | sell (plan) | $38K |
| Apr 13, 2026 | Peter J. Taylor Director | sell (plan) | $38K |
| Oct 12, 2026 | Peter J. Taylor Director | sell (plan) | $28K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.53% | Mar 31, 2026 |
| Vanguard Portfolio Management | 6.03% | Mar 31, 2026 |
| Capital Research Global Investors | 4.9% | Sep 30, 2024 |
| AQR Capital Management, LLC | 4.86% | Jun 30, 2026 |
| FMR LLC | 3.8% | Mar 31, 2025 |
ETFs with the most weight in EIX
| XUDV Franklin U.S. Dividend Multiplier Index ETF | 4.22% |
| FXU First Trust Utilities AlphaDEX Fund | 4.16% |
| AIEQ Amplify AI Powered Equity ETF | 3.33% |
| BAMD Brookstone Dividend Stock ETF | 3.24% |
| PEY Invesco High Yield Equity Dividend Achievers™ ETF | 2.89% |
| ZAP Global X U.S. Electrification ETF | 2.75% |
| DVY iShares Select Dividend ETF | 2.15% |
| SNPD Xtrackers S&P Dividend Aristocrats Screened ETF | 1.8% |
What could go wrong
- Wildfire claims, including the Eaton Fire. Claims tied to wildfires, including the January 2025 Eaton Fire in Los Angeles County, could seriously hurt SCE's finances. Its insurance may fall short, and climate change is making weather-related disasters worse.
- The state Wildfire Fund could run out. California's Wildfire Fund, created by AB 1054 and expanded by SB 254 in September 2025, helps pay eligible claims. If it is exhausted, SCE loses some of the laws' protections and could bear more costs.
- Regulators decide which costs SCE can recover. Regulators set SCE's rates and can refuse costs they judge unreasonable. Affordability also matters: in SCE's 2025 rate review, state regulators denied half its requested upfront funding for an electric-transportation grid program.
- Parent's dividend depends on cash from SCE. Edison International has no material operations of its own. Its dividend depends on cash from SCE, which comes only after SCE pays lenders and preference shareholders and meets California's legal tests for dividends.
- Rising bills could limit what regulators approve. Grid investment, renewable power, inflation and customers generating their own power or switching to community choice aggregators (local public power agencies) all push rates up. Higher bills may lead regulators to approve less.
- Heavy borrowing to fund grid spending. Free cash flow (operating cash minus capital spending) was negative every year from 2020 to 2025, so the company depends on bank and bond markets. Debt totaled $41.6 billion as of September 30, 2026.
Recent events
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Executive or board change; Bylaws or fiscal year changed; Investor presentation or announcement
- Other company announcement
For income and retirement investors
Edison International raised its dividend at least nine years in a row through fiscal 2025. Dividends per share rose from $2.575 in fiscal 2020 to $3.36 in fiscal 2025, about 5.5% a year, and the yield was 5.99% as of October 30, 2026. Dividends took 28.6% of fiscal 2025 earnings, flattered by a 247% jump in net income; in fiscal 2024, earnings of $3.31 a share barely covered the $3.17 dividend. Free cash flow was negative every year from fiscal 2020 to 2025, so the dividend depends partly on borrowing. Buybacks were small, $232 million over fiscal 2021–2025, and shares outstanding rose 1.3% from October 2021 to October 2026.
In the 2008 financial crisis the stock fell 57.7% and took about four years to recover. It fell 42.7% in the 2020 COVID crash, recovering in about two years, and 22% in the 2022 bear market. A single stock carries more risk than a diversified fund.
Questions investors ask
Does Edison International raise its dividend every year?
Yes, through fiscal 2025. Edison International raised its dividend at least nine years in a row, and the true streak may be longer. Dividends per share rose from $2.575 in fiscal 2020 to $3.36 in fiscal 2025, about 5.5% a year. The yield was 5.99% as of October 30, 2026. Increases are not guaranteed: the company says its ability to pay depends on cash from its utility, SCE, and on access to borrowing.
How does Edison International make money?
Mainly through Southern California Edison (SCE), the regulated electric utility it owns. The California Public Utilities Commission and the Federal Energy Regulatory Commission set SCE's rates. Those rates are designed to cover its costs, including electricity purchased for customers, and to earn a return on rate base, the money invested in its grid. The more SCE invests with regulators' approval, the more it can generally earn. Revenue was $19.3 billion in fiscal 2025.
What is the Eaton Fire and why does it matter for Edison International?
The Eaton Fire was a wind-driven fire in Los Angeles County in January 2025, and it has led to damage claims against SCE. In the fall of 2025, SCE launched a Wildfire Recovery Compensation Program so eligible people and businesses could settle claims faster. Edison International warns that wildfire claims could seriously hurt its finances, that its insurance may not be enough, and that SCE loses some state-law protections if California's Wildfire Fund is exhausted.
Why is Edison International's P/E ratio so low?
Largely because its fiscal 2025 earnings were far above earlier years. The price-to-earnings (P/E) ratio, the share price divided by a year's earnings per share, was 5.1 as of October 30, 2026, using fiscal 2025 earnings of $11.55 a share. That compares with $3.31 in fiscal 2024 and $3.11 in fiscal 2023. A P/E based on one exceptional year can make a stock look cheaper than its longer earnings record suggests. In the quarter ended September 30, 2026, net income fell 13% from a year earlier.
Who owns the most Edison International stock?
Vanguard is the largest reported holder. Its units Vanguard Capital Management and Vanguard Portfolio Management reported 7.53% and 6.03%, respectively, as of March 31, 2026. AQR Capital Management reported 4.86% as of June 30, 2026, Capital Research Global Investors 4.9% as of September 30, 2024, and FMR 3.8% as of March 31, 2025. Many ETFs also hold the stock, including the Franklin U.S. Dividend Multiplier Index ETF (XUDV) and the First Trust Utilities AlphaDEX Fund (FXU).