Forensic Analysis · Electric Utilities · as of Nov 9, 2026

OGE Energy Corp. (OGE)

A forensic read on OGE Energy Corp. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Clean

Earnings quality

Forensic signals

9.8%

ROE

9.2%

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 (auditor quality, say on pay, board independence, going concern). 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.

OGE Energy Corp. earns a B (Sound & dependable) forensic quality grade. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

5.2%

FY2025

Return on invested capital. Return on invested capital is 5.2% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.3-point range. After-tax operating profit was $573M in FY2023 and $671M in FY2025, with operating income at 24.3% of revenue in FY2023, 25.0% in FY2024 and 24.5% in FY2025. The capital base behind it grew +11% across FY2023–FY2025, from $11.6B to $12.9B, and the return did not fall doing it, so the dollars added over that window earned at least the 4.9% the older base was already earning.

413% of FCF

FY2025

Shareholder returns. Returned $342M to shareholders (buybacks + dividends) in FY2025 — 413% of free cash flow, but 30% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $14M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 430%.

Key fundamentals

Latest Revenue$3.26B

Revenue Growth YoY+9.2%

Revenue CAGR (2yr)+10.4%

Net Margin14.4%

Free Cash Flow$82.7M

Return on Equity9.8%

Debt / Equity1.08x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.