At a glance
Entergy Corporation is worth $52.50B, about 28 times its fiscal 2025 earnings. Revenue grew 9.0% to $12.95B in fiscal 2025, with 13.6% kept as profit; over 5 years it has grown 5.1% a year. It pays a 2.92% dividend yield, raised every year for at least 9 years, and returned $4.59B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +17.9% over the past year with dividends reinvested and +20.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 41.3% in the 2020 crash (S&P 500: 33.7%) and 21.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 24 months and 22 months after the lows.
The business in plain English
Entergy is an electric utility serving about 3.1 million customers in Arkansas, Louisiana, Mississippi and Texas, including the City of New Orleans. It generates, transmits and delivers electricity from nuclear, natural gas, hydroelectric and solar plants that can produce about 25,000 megawatts at full output. Revenue was $12.9 billion in 2025. On July 1, 2025, Entergy sold its small natural gas distribution businesses in Louisiana and New Orleans, leaving it focused on electricity.
Entergy makes money the way most regulated utilities do. Its regulators are state utility commissions, the New Orleans City Council and the Federal Energy Regulatory Commission. They approve its rates, which are set to cover operating costs plus an allowed return on money invested in plants and power lines. So earnings growth depends on building new generation and transmission, including projects for large data centers, and winning approval to charge customers for them.
Entergy reports one business segment, Utility, made up of five retail companies. Measured by customers as of December 31, 2025, Entergy Louisiana is the largest at 36%, followed by Entergy Arkansas (24%), Entergy Texas (18%), Entergy Mississippi (15%) and Entergy New Orleans (7%). A sixth subsidiary, System Energy, owns or leases 90% of the Grand Gulf nuclear plant and sells its output to three sister utilities.
Price history
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ETR +17.9% over the year to Nov 2, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $4.37B, up 14.5% from a year earlier, and net income was $940.3M (+35.5%).
- For fiscal 2025, revenue was $12.95B (+9.0% year over year; +5.1% a year from FY2020 to FY2025) with a 13.6% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +5.1% good |
|---|---|
| Operating margin | 24.7% good |
| Free cash flow margin | -19.6% weak |
| Return on equity (FY2025) | 10.4% watch |
| Return on assets (FY2025) | 2.4% weak |
| Net cash (cash minus debt) | $-23.04B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $10.11B | $1.39B | $2.44B |
| FY2021 | $11.74B | $1.12B | $2.13B |
| FY2022 | $13.76B | $1.10B | $-2.48B |
| FY2023 | $12.15B | $2.36B | $-146.3M |
| FY2024 | $11.88B | $1.06B | $-349.8M |
| FY2025 | $12.95B | $1.76B | $-2.53B |
Valuation snapshot
| Market value | $52.50B |
|---|---|
| P/E ratio | 28.1 |
| Dividend yield | 2.92% |
Rank among 1514 US companies
Market value at each year end
Entergy’s market value went from $13.16B at the end of 2016 to $52.50B on Nov 2, 2026, about 4.0 times as much; since the end of 2025 it is up 27%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $52.50B | +27.2% |
| 2025 | $41.28B | +27.0% |
| 2024 | $32.51B | +51.9% |
| 2023 | $21.40B | -6.5% |
| 2022 | $22.89B | +1.1% |
| 2021 | $22.64B | +13.3% |
| 2020 | $19.99B | -16.2% |
| 2019 | $23.85B | +53.0% |
| 2018 | $15.59B | +6.3% |
| 2017 | $14.67B | +11.5% |
| 2016 | $13.16B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ETR price data to Nov 2, 2026 | +21.7% | +17.9% | +35.2% | +20.4% | +16.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +21.7% |
| 2025 | +25.3% |
| 2024 | +55.9% |
| 2023 | -6.1% |
| 2022 | +3.5% |
| 2021 | +17.1% |
| 2020 | -13.7% |
| 2019 | +44.3% |
| 2018 | +10.6% |
| 2017 | +15.9% |
| 2016 | +12.5% |
| 2015 | -18.2% |
| 2014 | +44.8% |
| 2013 | +4.3% |
| 2012 | -10.6% |
| 2011 | +5.7% |
| 2010 | -11.6% |
| 2009 | +0.4% |
| 2008 | -29.4% |
| 2007 | +31.0% |
| 2006 | +36.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 46% over that stretch · deepest drop along the way 50.4%, back to its old high 116.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 41.3% over that stretch · deepest drop along the way 41.3%, back to its old high 24.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 11% over that stretch · deepest drop along the way 21.9%, back to its old high 21.6 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 1 open-market purchases ($106K) and 5 sales ($4.3M), 2 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 3, 2026 | Haley Fisackerly "Officer" Under Sec. 16 Rules | sell (plan) | $1.2M |
| Jul 30, 2026 | Jason Chapman SVP Chief Tech & Bus Servs Off | sell | $1.0M |
| Sep 14, 2026 | Eliecer Viamontes "Officer" Under Sec. 16 Rules | sell | $942K |
| Sep 10, 2026 | Laura R Landreaux "Officer" Under Sec. 16 Rules | sell | $595K |
| Jun 25, 2026 | Kimberly Cook-Nelson EVP & Chief Operating Officer | sell (plan) | $575K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.1% | Mar 31, 2025 |
| Vanguard Capital Management | 7.46% | Mar 31, 2026 |
| Vanguard Portfolio Management | 5.59% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5.3% | Jun 30, 2025 |
| JPMORGAN CHASE & CO. | 4.4% | Sep 30, 2026 |
ETFs with the most weight in ETR
| UTES Virtus Reaves Utilities ETF | 5.51% |
| ZAP Global X U.S. Electrification ETF | 5.23% |
| ELCV Eventide High Dividend ETF | 5.16% |
| SAMT Strategas Macro Thematic Opportunities ETF | 4.07% |
| MDLV Morgan Dempsey Large Cap Value ETF | 3.43% |
| PUI Invesco Dorsey Wright Utilities Momentum ETF | 3.34% |
| INFR ClearBridge Sustainable Infrastructure ETF | 3.25% |
| RSPU Invesco S&P 500 Equal Weight Utilities ETF | 3.21% |
What could go wrong
- Data center growth hinges on few customers. Some Entergy utilities are investing in plants and power lines to serve large data centers, relying on a small number of customers. Weaker demand, project delays or cost overruns could hurt growth and finances.
- Hurricanes and storm-cost recovery. Entergy's service area faces hurricanes and severe weather, which climate change may make more frequent and intense. Restoring power is costly, and delays or failure to recover those costs from customers could hurt results.
- Nuclear plants carry special risks. Entergy Arkansas, Entergy Louisiana and System Energy have nuclear plants. Long outages, uranium supply problems, tighter Nuclear Regulatory Commission rules, spent-fuel storage, the cost of closing plants or a nuclear incident could hurt results.
- Grand Gulf contracts face ongoing litigation. System Energy owns or leases 90% of the Grand Gulf nuclear plant. All of its revenue comes from selling power to sister utilities, and ongoing lawsuits and regulatory cases over those contracts could reduce that income.
- Regulators decide what it can charge. Rates are set in lengthy proceedings that can be appealed. Regulators can block recovery of costs they deem unreasonable or cut allowed returns. Delays in recovering spending can leave Entergy earning less than allowed.
- Heavy borrowing and credit-rating risk. Entergy relies on capital markets to fund its building program, and total debt was about $34.8 billion as of September 30, 2026. A credit-rating downgrade could raise borrowing costs or require posting collateral.
Recent events
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Shareholder vote results
- Executive or board change
- Major agreement signed; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change
For income and retirement investors
Entergy has raised its dividend for at least nine years in a row. Dividends per share rose from $1.87 in 2020 to $2.44 in 2025, adjusted for a 2-for-1 stock split. That is about 5.5% a year, and the dividend took about 61% of 2025 earnings. The yield was 2.92% as of November 2, 2026. But free cash flow (operating cash minus capital spending) was negative every year from 2022 through 2025. So dividends and construction were funded partly with borrowing and new shares. Entergy bought back no stock from 2021 to 2025, and its share count rose about 18% between January 2022 and October 2026.
Downturns have hit the shares hard. They fell about 50% from January 2008 to March 2009 and did not recover until November 2018. They dropped 41% in the 2020 COVID crash, recovering by April 2022, and 22% in 2022, recovering in July 2024. A single stock carries more risk than a diversified fund.
Questions investors ask
Does Entergy raise its dividend every year?
Yes, for at least nine years in a row, and the streak may be longer. Entergy's regular dividends per share rose from $1.87 in 2020 to $2.44 in 2025, adjusted for a 2-for-1 stock split. That is an average increase of about 5.5% a year. The 2025 dividend used about 61% of earnings. The board decides each increase, so past raises are not a promise of future ones.
How does Entergy make money?
By selling electricity. Entergy serves about 3.1 million customers in Arkansas, Louisiana, Mississippi and Texas, including New Orleans. Regulators approve its rates, which are set to cover costs plus an allowed return on money invested in power plants and power lines. So profit growth depends largely on building new assets and getting approval to charge for them. Revenue was $12.9 billion in 2025 and net income about $1.76 billion. Entergy Louisiana is its largest utility, with 36% of customers as of December 31, 2025.
Is Entergy's dividend covered by earnings?
By earnings, yes. By free cash flow, no. Dividends of $2.44 per share took about 61% of Entergy's 2025 diluted earnings of $3.91 per share. Free cash flow (cash from operations minus spending on plants and the grid) was negative by about $2.5 billion in 2025. Borrowing and new shares filled that gap, and total debt was about $34.8 billion as of September 30, 2026. The dividend yield was 2.92% as of November 2, 2026.
How did Entergy stock do in past market crashes?
It fell sharply each time but eventually recovered. Entergy's shares dropped about 50% from January 2008 to March 2009 and did not regain their peak until November 2018. They fell 41% in the 2020 COVID crash, recovering by April 2022, and 22% in the 2022 bear market, recovering in July 2024. Beta measures how much a stock moves with the overall market. Entergy's was a low 0.18 for the year to November 2, 2026, but low beta did not prevent deep losses in earlier crashes.
Does Entergy own nuclear power plants?
Yes. Entergy Arkansas, Entergy Louisiana and System Energy have nuclear plants. System Energy owns or leases 90% of the Grand Gulf plant and sells its power to three sister utilities. Nuclear sits alongside natural gas, hydroelectric and solar in Entergy's roughly 25,000 megawatts of generating capacity. It brings specific risks: long refueling or unplanned outages, uranium supply, tighter Nuclear Regulatory Commission rules, spent-fuel storage and the cost of shutting plants down safely at the end of their lives.