Forensic Analysis · Utilities · as of Sep 24, 2026
Entergy Corp /De/ (ETR)
A forensic read on Entergy Corp /De/ built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
1.6
Distress distance
Clean
Earnings quality
3
Forensic signals
26.8
P / E (ttm)
10.5%
ROE
$46.3B
Market cap
4.47%
Dividend yield
9.0%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Entergy Corp /De/ earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 1.6, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
3.9%
FY2025
Return on invested capital.Return on invested capital is 3.9% in the latest fiscal year and steady across FY2023–FY2025, inside a 1.0-point range. The capital base behind it grew +17% across FY2023–FY2025, from $55.3B to $64.5B, while the return fell 0.4 points, so the dollars added over that window earned less than the 4% the older base was already earning.
+2.9%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +6% over the last 2 years to FY2025 (+2.9%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~2.9% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~6%.
FCF ($2.5B)
FY2025
Shareholder returns.Returned $1.1B to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($2.5B) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $5.2B — 21% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
Key fundamentals
Latest Revenue$12.95B
Revenue Growth YoY+9.0%
Revenue CAGR (2yr)+3.2%
Net Margin13.7%
Free Cash Flow-$2.53B
Return on Equity10.5%
Debt / Equity1.79x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Entergy Corp /De/'s actual 10-K/10-Q/8-K filings?