Reading the tape
NASDAQ: EVRG
Evergy, Inc.
Utilities · Regulated Electric
Market Cap
$18.90B
52w High
$85.27
52w Low
$63.29
P/E
22.11
Volume
1.19M
Outstanding Shares
230.28M
Price vs Fundamentals
Why The Stock Is Moving
Momentum disconnected from fundamentalsModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 18.17%Revenue (TTM): 1.65%FCF (TTM): -113.01%P/E: 67th pct
What changed
The stock rose 18.17% over the last year. Revenue grew 1.65% over the trailing twelve months. Operating margin moved from 24.8% to 25.19%. Free cash flow declined 113.01% over the trailing twelve months.
What the market seems to be pricing
The stock is rising despite deteriorating fundamentals and now sits at the 67th percentile of its historical P/E range. This is a momentum-driven move — the market may be front-running a recovery that has not yet appeared in reported numbers.
What would invalidate this read
Operating margin (currently 25.19%) would need to stabilize or improve to justify the move. This read is wrong if the next period shows operating metrics turning the corner. At that point the price would be anticipating real improvement rather than running ahead of it.
Company profile
Evergy, Inc., together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States.
CEODavid A. Campbell
SectorUtilities
IndustryRegulated Electric
Employees4,731
IPO dateJun 4, 2018
Valuation
Forward P/E—
EV/EBITDA11.76
Enterprise value$32.12B
Stock splits
May 22, 1987↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth9.49%
Gross margin32.28%▼0.89%vs FY2024
Operating margin25.19%▲1.56%vs FY2024
ROE8.37%▼4.60%vs FY2024
Analyst consensus
RatingHold
Target price$89.00▲8.43%
7
Buy
9
Hold
2
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 7, 2026
Q2 FY26 · EPS est $0.63 · Revenue est $1.27B
View
Dividends
$2.72/shareQuarterlyDividend Achiever · 22yrAt RiskEVRG pays a dividend with a 3.32% dividend yield, 22 consecutive years of growth, growing at 5.64% annually, covered -1.2× by free cash flow.
Dividend Yield
3.32%
Annual Div / Share
$2.72
5yr CAGR
+5.64%
Doubles every ~12.6yr
Payout Ratio
71.66%
At Risk
Dividend Growth Rate
3yr CAGR
+5%
5yr CAGR
+5.64%
10yr CAGR
+6.48%
Dividend Safety
2/10At Risk
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2025$2.70+3.9%
2024$2.60+4.6%
2023$2.48+6.4%
2022$2.33+7.0%
2021$2.18+6.2%
2020$2.05+6.2%
2019$1.93+11.2%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$33/yr
$3/mo
In 5 yrs
$44/yr+32%
$4/mo
In 10 yrs
$57/yr+73%
$5/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$33/yr $3/mo | $44/yr+32% $4/mo | $57/yr+73% $5/mo |
Yield-on-cost grows from 3.32% → 5.75% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
EVRG has raised its dividend for 22 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Strong dividend growth rate
The 5-year CAGR of 5.64% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
Dividend exceeds free cash flow
Free cash flow covers only -1.23× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.