OGEOGE ENERGY CORP.

Electric Services

Revenue: $3.2B; 9.4% YoY
Operating margin: 25.1%; 2.0% YoY
EBITDA: $1.4B; 5.8% YoY
Market cap: $10.2B
Employees: 2,248; $1M revenue each
Net debt / EBITDA: 4.0×; $5.4B net debt
AI in 10-K: 1.7; mentions per 10K words

Takeover score 0 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
242% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
30% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
0% of assets
Over 40% of assets
Shareholder dissentNo
96% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$1M · 55th pct
Bottom quartile of its SIC industry
Quiet on AINo
1.7 per 10K words · 50th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
4.0× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$10.2B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$445K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$3.6B	$3.3B	$2.6B	$2.9B	$3.2B	9.4%
Operating income	$544M	$650M	$650M	$745M	$799M	7.3%
Net income	$737M	$666M	$417M	$442M	$471M	6.6%
Operating cash flow	−$230M	$952M	$1.2B	$813M	$1.1B	40%
Capex	$779M	$1.1B	$1.2B	$1.1B	$1.1B	3.3%
Stock-based comp	$10M	$10M	$13M	$12M	$14M	20%
Dividends	$325M	$329M	$333M	$339M	$342M	1.0%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $500K · 1
Open-market sells, 12 mo: $945K · 3
Net: −$445K

Pay vs performance

No pay-versus-performance disclosure yet.