OGE Energy Corp. (OGE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-38.3%

$30.80

vs $49.95 price

Levered DCF

-$63.48

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.41

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	18.33×	18.75×	16.79×	11.88×	10.43×	-36.62×	20.49×	18.4×
P/B	1.73×	1.78×	1.55×	1.79×	1.89×	1.76×	2.15×	1.95×
P/S	2.64×	2.77×	2.62×	2.35×	2.1×	3×	3.99×	3.45×
EV / EBITDA	10.27×	10.5×	9.86×	8.74×	8.7×	39.76×	12.59×	11.02×
Gross margin	44.2%	46.7%	47.1%	35.9%	29.1%	47.8%	42.7%	39.8%
Operating margin	24.5%	25.0%	24.3%	19.2%	14.9%	24.6%	22.6%	21.6%
Net margin	14.4%	14.8%	15.6%	19.7%	20.2%	-8.2%	19.4%	18.7%
Current ratio	0.78×	0.73×	0.65×	0.74×	0.56×	0.61×	0.65×	0.64×
Debt / equity	1.14×	1.19×	1.07×	1.03×	1.23×	0.99×	0.8×	0.79×
Interest coverage	2.96×	2.93×	2.85×	3.91×	3.36×	3.26×	3.35×	2.92×
Dividend yield	4.0%	4.1%	4.8%	4.2%	4.2%	4.9%	3.4%	3.5%
Payout ratio	72.6%	76.7%	79.9%	49.5%	44.1%	-181.3%	69.0%	64.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.5%	9.5%	9.2%	15.1%	18.2%	-4.8%	10.5%	10.6%
Return on invested capital	4.9%	4.9%	4.7%	4.7%	3.8%	3.0%	4.5%	4.1%
Return on assets	3.3%	3.2%	3.3%	5.3%	5.8%	-1.6%	3.9%	4.0%
Free cash flow yield	1.0%	-3.4%	0.8%	-1.2%	-13.1%	1.0%	0.5%	4.8%
Earnings yield	5.5%	5.3%	6.0%	8.4%	9.6%	-2.7%	4.9%	5.4%
Enterprise value	$14.3B	$13.8B	$11.8B	$12.4B	$12.7B	$10B	$12.2B	$10.9B
Net debt / EBITDA	4.07×	4.2×	4.03×	3.15×	3.42×	14.32×	3.41×	3.09×
Cash conversion cycle (days)	46	69	76	66	22	8	27	25