Forensic Analysis · Utilities · as of Aug 11, 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

Forensic signals

27.3

P / E (ttm)

10.5%

ROE

$49.2B

Market cap

2.40%

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). 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 — well below its ~6% cost of capital, so reinvested dollars may be destroying value, not building it.

+3.1%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +10% over the last 3 years to FY2025 (+3.1%/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 ~3.1% 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 FY2022 has been diluted ~9%.

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 (3yr)-2.0%

Net Margin13.7%

Free Cash Flow-$2.53B

Return on Equity10.5%

Debt / Equity1.79x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.