# Evergy, Inc. (EVRG)

> Source: Nexqual · https://nexqual.com/EVRG · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Evergy, Inc. (EVRG), nexqual.com/EVRG" · informational, not investment advice.

**Price:** USD 84.95 (+2.16% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 83.15 · day 83.54–85.26 · 52w 71.41–88.62 · market cap $19.6B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $6.09B, net income $926M (15.2% margin), free cash flow -$1.41B (SEC filings).
- Valuation: P/E 21.2x (avg 17.5x at the last 3 fiscal year-ends), EV/EBITDA 12.0x, net debt $13.8B.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $1.1M; 3 not under a Rule 10b5-1 plan ($1.1M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $134K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.20 on a 1–5 scale) (15 analysts), mean target USD 89.77 (range 80–97).
- Total return with dividends: 1Y +12.9% vs S&P 500 +14.9%; 5Y +60.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 2.3, revenue estimate $1.97B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.59B | $5.86B | $5.51B | $5.85B | $5.96B | $6.09B |
| Operating income | $1.35B | $1.27B | $1.28B | $1.47B | $1.53B | $1.60B |
| Net income | $880M | $753M | $731M | $874M | $856M | $926M |
| EPS (diluted) | $3.83 | $3.27 | $3.17 | $3.79 | $3.66 | — |
| Free cash flow | -$621M | -$365M | -$354M | -$353M | -$752M | -$1.41B |
| Operating margin | 24.3% | 21.6% | 23.3% | 25.1% | 25.7% | 26.2% |
| Net margin | 15.7% | 12.8% | 13.3% | 14.9% | 14.4% | 15.2% |
| Revenue growth | +13.7% | +4.9% | -6.0% | +6.2% | +2.0% | — |
| Cash + short-term investments | $26.2M | $25.2M | $27.7M | $22.0M | $19.8M | — |
| Total debt | $9.69B | $10.3B | $11.9B | $12.5B | $13.4B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 21.2x · P/S 3.2x · EV/EBITDA 12.0x · EV/Sales 5.5x · P/B 1.9x · FCF yield -7.18% · Earnings yield 4.73% · Dividend yield (paid, TTM) 3.18% · Net debt $13.8B · EV $33.4B
P/E at fiscal year-ends: Dec 2025 19.8x, Dec 2024 16.2x, Dec 2023 16.5x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-15 | Caisley Charles A. | EVP & CHIEF CUST OFFCR | 10,787 | $900K | 22% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-02…2026-06-03 | Lawrence Sandra Aj | Director | 800 | $65K | 62.5% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-28…2026-05-29 | Lawrence Sandra Aj | Director | 1,161 | $96K | 47.6% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $134K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-11 | Rolph Jonathan D | Director | 1,640 | $134K | 81.47 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 2.20 on a 1–5 scale), 15 analysts; mean target USD 89.77 (low 80, high 97).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | TD Cowen | Initiated | Buy | $95 |
| 2026-10-22 | HSBC | Initiated | Buy | $92 |
| 2026-10-19 | Barclays | Target lowered | Overweight | $92 → $86 |
| 2026-10-13 | BMO Capital | Target lowered | Outperform | $89 → $85 |
| 2026-07-24 | Citigroup | Target raised | Buy | $95 → $97 |
| 2026-07-22 | BMO Capital | Target raised | Outperform | $88 → $92 |
| 2026-06-30 | Barclays | Target raised | Overweight | $89 → $94 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +12.9% | +60.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +12.9% | +9.9% |
| Volatility (annualized) | 16.5% | 19.7% |
| Max drawdown | -11.1% (Jul 2026→Sep 2026) | -29.4% (Aug 2022→Oct 2023) |

## Peers (Utilities - Regulated Electric)
LNT (Alliant Energy Corporation) USD 70.3 +2.79% · CMS (CMS Energy Corporation) USD 70.3 +3.19% · EIX (Edison International) USD 57.9 +1.24% · EMA (Emera Incorporated) USD 49.36 +4.20% · ES (Eversource Energy (D/B/A)) USD 67.84 +3.41% · PPL (PPL Corporation) USD 35.35 +2.23%

## More
Full page: https://nexqual.com/EVRG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-08-06)

- "Guidance • Second Quarter 2026 GAAP EPS of $0.91, compared to $0.74 in 2025 • Second Quarter 2026 Adjusted EPS (non-GAAP) of $0.88, compared to $0.82 in 2025 • Declares quarterly dividend of $0.6950 per share • Reaffirms 2026 Adjusted (non-GAAP) EPS guidance of $4.14 to $4.34 KANSAS CITY, MO., August 6, 2026 – Evergy, Inc."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.30 | $2.17 | +6.3% | $1.97B | 6 |
| Next quarter (ends 2026-12-31) | $0.44 | $0.57 | -22.9% | $1.38B | 5 |
| Current fiscal year (ends 2026-12-31) | $4.27 | $4.26 | +0.3% | $6.30B | 14 |
| Next fiscal year (ends 2027-12-31) | $4.56 | $4.56 | +0.1% | $6.68B | 14 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±4.7%; last 8 reports averaged ±1.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 19.4% | ±4.7% |
| 2026-12-18 | 56 | 17.4% | ±6.4% |
| 2027-03-19 | 147 | 17.3% | ±8.9% |
| 2027-06-17 | 237 | 19.9% | ±12.7% |