Tennessee Valley Authority
TVE, TVC · Electric Services · EDGAR filings ↗
Grade
C65Large federally owned electric utility with steady, regulated-style earnings and modest returns.
Strengths
- Massive scale and liquidity: cash 95th pct; net income growth 20% (69th pct)
- Stable, low-risk government-backed power franchise
Risks
- Low returns typical of utilities: ROA 2.2% (42nd pct); negative FCF (capex-heavy) and current ratio 0.92
- No standout metric — earnings power clusters around the sector median
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-1133.0M)
- Weak liquidityCurrent ratio 0.92 (<1)
- Strong balance sheetStrong balance sheet — $5.8B cash & investments, ~21 quarters of runway
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on assets
2.2%
Revenue growth (QoQ)
25.4%
Net-income growth
19.8%
Net debt / EBITDA
3.3×
Current ratio
0.9×
Free cash flow
-$1.1B
EBITDA
$4.9B
Cash & investments
$5.8B
Cash runway
21q
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-28 | Material agreementDebt obligationExec/director changeExhibits | filing ↗ |
| 2026-04-24 | Exec/director changeExhibits | filing ↗ |
| 2026-04-13 | Exec/director change | filing ↗ |
| 2026-04-06 | Exec/director change | filing ↗ |
| 2026-03-05 | Other | filing ↗ |
| 2026-03-02 | Exec/director change | filing ↗ |
| 2026-02-12 | Exec/director change | filing ↗ |
| 2026-01-20 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-28 | 2026-05-21 | 0001376986-26-000031 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001376986-26-000029 ↗ |
| 8-K | 2026-04-24 | 2026-04-24 | 0001376986-26-000026 ↗ |
| 8-K | 2026-04-13 | 2026-04-07 | 0001376986-26-000024 ↗ |
| 8-K | 2026-04-06 | 2026-04-03 | 0001376986-26-000022 ↗ |
| 8-K | 2026-03-05 | 2026-02-27 | 0001376986-26-000019 ↗ |
| 8-K | 2026-03-02 | 2026-02-24 | 0001376986-26-000017 ↗ |
| 8-K | 2026-02-12 | 2026-02-11 | 0001376986-26-000015 ↗ |
| 10-Q | 2026-02-03 | 2025-12-31 | 0001376986-26-000012 ↗ |
| 8-K/A | 2026-01-20 | 2025-12-18 | 0001376986-26-000008 ↗ |
| 8-K | 2026-01-20 | 2026-01-15 | 0001376986-26-000006 ↗ |
| 8-K | 2025-12-22 | 2025-12-18 | 0001376986-25-000060 ↗ |