Filing Flows

Filing Flows › Companies › Firstenergy › Cash flow

Firstenergy cash flow, quarter by quarter

Latest: Q1 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$1.1B in Q1 2026 · −$1.7B over twelve months

Operating cash flow$148M
Capital spending−$1.3B
Free cash flow−$1.1B
Cash / net income0.3×

Analysis

In Q1 2026, Firstenergy generated $148M of operating cash flow and spent $1.3B on capital projects, leaving free cash flow of −$1.1B. That is $739M less than in Q1 2025 (−$368M).

Over the twelve months to Mar 31, 2026, operating cash flow was $3.2B; the largest uses were capital spending ($5.0B), dividends ($1.0B), other financing ($462M); besides operations, cash came from net borrowing (+) / repaid (−) ($3.5B); the cash balance fell by $83.0M.

Operating cash flow was $148M against net income of $466M — 0.3× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$421M, income taxes payable −$187M, prepaid and other assets −$152M.

Free cash flow

Firstenergy: free cash flow by quarterFirstenergy: free cash flow by quarter$170MQ2 2024−$229MQ3 2024−$250MQ4 2024−$368MQ1 2025−$136MQ2 2025−$471MQ3 2025−$30.0MQ4 2025−$1.1BQ1 2026
Operating cash flow less capital spending.
Firstenergy: operating cash flow against capital spendingFirstenergy: operating cash flow against capital spendingOperating cash flowCapital spending$1.1B$942MQ2 2024$775M$1.0BQ3 2024$1.0B$1.3BQ4 2024$637M$1.0BQ1 2025$1.1B$1.2BQ2 2025$845M$1.3BQ3 2025$1.1B$1.2BQ4 2025$148M$1.3BQ1 2026
Latest (Q1 2026): Operating cash flow $148M, Capital spending $1.3B.

Capital allocation, year by year

Firstenergy: where the cash came from (up) and went (down), by fiscal yearFirstenergy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $2.8BFY2021: Net borrowing −$632MFY2021: Shares issued $1.0BFY2021: Asset sales $155MFY2021: Capital spending −$2.5BFY2021: Dividends −$849M$4.0BFY2021FY2022: Operating cash flow $2.7BFY2022: Net borrowing −$2.2BFY2022: Capital spending −$2.8BFY2022: Dividends −$891M$2.7BFY2022FY2023: Operating cash flow $1.4BFY2023: Net borrowing $3.3BFY2023: Capital spending −$3.4BFY2023: Dividends −$906M$4.7BFY2023FY2024: Operating cash flow $2.9BFY2024: Net borrowing −$887MFY2024: Capital spending −$4.0BFY2024: Dividends −$970M$2.9BFY2024FY2025: Operating cash flow $3.7BFY2025: Net borrowing $2.6BFY2025: Capital spending −$4.7BFY2025: Dividends −$1.0B$6.3BFY2025
Over these 5 years operating cash flow totalled $13.5B; the largest uses were capital spending ($17.4B) and dividends ($4.6B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$52.0M
Debt$28.1B
Net debt$28.0B
Due within a year$720M

Firstenergy's operations bring cash in ($3.2B over twelve months), and it spends more than that on capital projects: a gap of $1.7B funded from its $52.0M of cash and investments and from borrowing ($28.1B of debt, $720M due within a year). That is a choice to invest, not a cash runway running down.

Firstenergy: debt maturities by year (FY2025)Firstenergy: debt maturities by year (FY2025)$720MYear 1$2.0BYear 2$2.5BYear 3$3.1BYear 4$2.5BYear 5
Principal due in each year as disclosed in the annual report, against $52.0M of cash and investments now.

Where the cash came from and went

Firstenergy: sources (+) and uses (−) of cash, Q1 2026Firstenergy: sources (+) and uses (−) of cash, Q1 2026Net borrowing (+) / repaid (−)$1.5BCapital spending−$1.3BDividends−$257MOperating cash flow$148MOther investing−$117MOther financing−$43.0MCash drawn (+) / kept (−)$19.0M
Firstenergy: sources (+) and uses (−) of cash, TTM to Q1 2026Firstenergy: sources (+) and uses (−) of cash, TTM to Q1 2026Capital spending−$5.0BNet borrowing (+) / repaid (−)$3.5BOperating cash flow$3.2BDividends−$1.0BOther financing−$462MOther investing−$389MCash drawn (+) / kept (−)$83.0M

From profit to cash

Firstenergy: net income to operating cash flow, Q1 2026Firstenergy: net income to operating cash flow, Q1 2026Net income$466MDepreciation & amortization$421MDeferred taxes$139MReceivables$53.0MInventory−$5.0MPayables$19.0MEmployee-related liabilities−$91.0MPrepaid and other assets−$152MOther liabilities−$14.0MIncome taxes payable−$187MOperating cash flow$148M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 2026$148M−$1.3B−$257M$1.5B$19.0M−$1.1B
Q4 2025$1.1B−$1.2B−$257M−$916M$1.3B−$30.0M
Q3 2025$845M−$1.3B−$257M$1.7B−$817M−$471M
Q2 2025$1.1B−$1.2B−$257M$1.1B−$451M−$136M
Q1 2025$637M−$1.0B−$245M$761M−$9.0M−$368M
Q4 2024$1.0B−$1.3B−$245M$325M$311M−$250M
Q3 2024$775M−$1.0B−$245M−$244M−$362M−$229M
Q2 2024$1.1B−$942M−$245M−$568M$812M$170M

Firstenergy: income statement and cash flow

Firstenergy, Q2 2026: revenue $3.7B (+9% year over year), operating margin 18.4%. The chart follows the revenue to costs, profit and cash.

Firstenergy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.