FEFirstEnergy
Is it safe?
Elevated bankruptcy risk: a balance sheet under strain and heavy debt (BB). Everything else is secondary until this clears.
Elevated financial-distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Moderately leveraged. A rule of thumb on leverage, not a credit rating.
Relatively steady, low volatility. Worst drawdown -48% · now 12% below its 52-week high.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can FE take a bad year?
FirstEnergy carries $28.0B of net debt at 7.08× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q1 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 7.08×
Net debt / EBITDA · 5.97× a year ago · the load is going up
- Altman Z-score
- 0.75
Altman Z-score · distress zone, below 1.8
- Cash runway
- 0.0 years
Cash runway · burning $436M a quarter at the current rate
Details›
- Total debtQ1 2026
- $28.1B
- Cash and short-term investments
- $52M
- Net debt
- $28.0B
- EBITDA, trailing twelve months
- $3.95B
- Operating profit, trailing twelve months
- $2.28B
- Debt / equity
- 2.22×
- Total debt / EBITDA
- 7.10×
- Annualised volatilitytwo years of daily moves
- 18%
- Worst drawdown on file
- −48%
- Below its 52-week high
- 12%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Utilities, Regulated Electric
The closest names by size in the same industry