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Companies $TVE
$23.10 -$0.02 (0.09%) Close

Tennessee Valley Authority

What Do They Do?

Sells electricity to local power companies, industrial customers, and federal agencies.

How Do They Make Money?

Sells electricity to local power companies and directly served customers; customers are billed monthly for metered power delivered, with payment typically due within approximately one month of the invoice.

FY2025 revenue

Who Are Their Customers?

TVA mainly sells power wholesale to municipalities and cooperatives, which distribute it to the public or their members. It also serves industrial customers and federal agencies directly.

Do Revenues Turn Into Profits?

Yes. It kept 10 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$1.1B.

Operating income, FY2025
19% of revenue
▲ +15% vs FY2024 ($2.2B, 18%)
Net income, FY2025
10% of revenue
▲ +20% vs FY2024 ($1.1B, 9%)
Free cash flow, FY2025
−8% of revenue
▲ +308% (Loss) vs FY2024 (−$278M, −2%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q3 FY2026, the three months to Jun 30, 2026
Revenue
▲ +4%
vs $3.3B in Q3 FY2025
Net income
▲ +45%
vs $212M in Q3 FY2025
  • Apr 24, 2026 TVA appointed an interim CEO Michael D. Skaggs will serve as interim president and CEO, succeeding Donald A. Moul.
  • Apr 6, 2026 The CEO announced plans to retire Donald A. Moul notified TVA of his intention to retire.
  • Mar 5, 2026 TVA selected a new board chair Mitch Graves assumed the role of Chair of the TVA Board.

Growing. Revenue grew 30% in 4 years, from $10.5B in FY2021 to $13.7B in FY2025, about 7% a year.

Broader local power company flexibility TVA's updated flexibility agreements give participating local power companies more options to develop projects across the service area, connect them to local distribution or TVA's transmission system, and partner on projects.

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