Question 1

What is Ameren's EV/EBITDA ratio?

Accepted Answer

Ameren (AEE) EV/EBITDA ratio is 8.1× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Ameren?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Ameren specifically, the relevant sector benchmark is the current sector median of 12.7×.

Question 5

Is Ameren's EV/EBITDA ratio high or low?

Accepted Answer

Ameren's EV/EBITDA ratio of 8.1× is below its own 5-year average of 11.7× and below the sector median of 12.7×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Ameren's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Ameren (AEE) EV/EBITDA ratio has ranged from a low of 4.2× in 2001 to a high of 285.4× in 2013. The 5-year average is 11.7× and the 5-year median is 11.9×.

Question 7

What was Ameren's EV/EBITDA ratio in 2025?

Accepted Answer

Ameren (AEE) EV/EBITDA ratio at the end of 2025 was 12.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Ameren's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$27.11B	$3.91B	12.0×	+0.2×	Dec 31, 2025
2024	$23.84B	$3.60B	11.8×	+1.4×	Dec 31, 2024
2023	$19.06B	$3.41B	10.4×	-1.5×	Dec 31, 2023
2022	$23.04B	$3.18B	11.9×	-1.1×	Dec 31, 2022
2021	$22.93B	$2.81B	13.0×	+1.2×	Dec 31, 2021
2020	$19.31B	$2.60B	11.8×	+0.2×	Dec 31, 2020
2019	$18.89B	$2.48B	11.6×	+1.6×	Dec 31, 2019
2018	$15.94B	$2.49B	10.0×	+0.7×	Dec 31, 2018
2017	$14.31B	$2.45B	9.3×	+0.5×	Dec 31, 2017
2016	$12.73B	$2.35B	8.8×	+0.6×	Dec 31, 2016
2015	$10.50B	$2.18B	8.2×	-0.7×	Dec 31, 2015
2014	$11.68B	$2.10B	8.8×	+2.0×	Dec 31, 2014
2013	$7.03B	$1.97B	6.8×	-137.3×	Dec 31, 2013
2012	$7.45B	$93.00M	144.1×	+137.0×	Dec 31, 2012
2011	$8.03B	$2.07B	7.1×	-0.8×	Dec 31, 2011
2010	$6.77B	$1.75B	8.0×	+1.6×	Dec 31, 2010
2009	$6.62B	$2.25B	6.3×	-0.5×	Dec 31, 2009
2008	$7.05B	$2.20B	6.8×	-1.8×	Dec 31, 2008
2007	$11.29B	$2.13B	8.6×	-0.5×	Dec 31, 2007
2006	$11.08B	$1.89B	9.2×	+0.9×	Dec 31, 2006
2005	$10.47B	$1.95B	8.2×	-1.1×	Dec 31, 2005
2004	$9.79B	$1.68B	9.3×	+1.6×	Dec 31, 2004
2003	$8.02B	$1.65B	7.6×	+0.3×	Dec 31, 2003
2002	$6.43B	$1.34B	7.3×	+3.2×	Dec 31, 2002
2001	$5.82B	$2.25B	4.2×	—	Dec 31, 2001


CMS Energy (CMS)	13.0×
FirstEnergy (FE)	12.9×
H2O America (HTO)	12.8×
Southern Company (SO)	12.7×
Vistra (VST)	12.7×
PPL (PPL)	12.7×
Evergy (EVRG)	12.7×
NiSource (NI)	12.6×
Pinnacle West Capital (PNW)	12.5×
New Jersey Resources (NJR)	12.3×
MGE Energy (MGEE)	12.0×
Duke Energy (DUK)	11.9×
Black Hills (BKH)	11.9×
Algonquin Power & Utilities (AQN)	11.8×
Public Service Enterprise Group (PEG)	11.7×
Exelon (EXC)	11.3×
AES (AES)	10.5×
Eversource Energy (ES)	10.3×
Artesian Resources (ARTNA)	9.9×
Avista (AVA)	9.9×
Consolidated Edison (ED)	9.8×
Edison International (EIX)	9.6×
PG&E (PCG)	9.5×
UGI (UGI)	9.3×
Northwest Natural Holding (NWN)	8.9×

EV/EBITDA for Ameren (AEE)

EV/EBITDA daily chart for Ameren (AEE)

Historical EV/EBITDA for Ameren (AEE) from 2001 to 2025

About EV/EBITDA at Ameren (AEE)

Ameren EV/EBITDA by Year

Ameren EV/EBITDA 2025: 12.0×

Ameren EV/EBITDA 2024: 11.8×

Ameren EV/EBITDA 2023: 10.4×

Ameren EV/EBITDA 2022: 11.9×

Ameren EV/EBITDA 2021: 13.0×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Ameren (AEE) Key Financials

EV/EBITDA daily chart for Ameren (AEE)

Historical EV/EBITDA for Ameren (AEE) from 2001 to 2025

About EV/EBITDA at Ameren (AEE)

Ameren EV/EBITDA by Year

Ameren EV/EBITDA 2025: 12.0×

Ameren EV/EBITDA 2024: 11.8×

Ameren EV/EBITDA 2023: 10.4×

Ameren EV/EBITDA 2022: 11.9×

Ameren EV/EBITDA 2021: 13.0×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Ameren's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Ameren?

+Is Ameren's EV/EBITDA ratio high or low?

+What is Ameren's historical EV/EBITDA ratio range?

+What was Ameren's EV/EBITDA ratio in 2025?

+Why does Ameren's EV/EBITDA ratio change over time?

Ameren (AEE) Key Financials