AEE

AMEREN CORP

Ticker: AEEUtilitiesElectric, Gas & WaterS&P 500
HQ ST LOUIS, MOCIK 1002910FY end 12-31Book / share $49.13Shares 279M
Revenue (FY)
$8.80B+15.43%
TTM $8.75B
Op. margin
23.03%+3.14%
TTM 24.87%
Net income
$1.46B+23.08%
TTM $1.57B
Operating cash
$3.35B+21.35%
TTM $3.25B
Free cash flow
$-821.00M+50.15%
TTM $-1.45B
Return on equity
11.10%+1.32%
TTM 11.65%
Debt / equity
1.48-0.07%
TTM 1.59
Shares outstanding
272.2M+1.80%
TTM 278.6M

The business

Ameren Corporation (NYSE: AEE) operates as a public utility holding company headquartered in St. Louis, Missouri, with its primary business conducted through three principal subsidiaries: Ameren Missouri, Ameren Illinois, and Ameren Transmission Company of Illinois (ATXI). The company's website is www.ameren.com.

Ameren Missouri operates rate-regulated electric generation, transmission, and distribution businesses alongside a natural gas distribution business throughout Missouri. Ameren Illinois operates rate-regulated electric transmission, electric distribution, and natural gas distribution businesses in Illinois. ATXI operates a Federal Energy Regulatory Commission-regulated electric transmission business within the Midcontinent Independent System Operator footprint.

The company organizes its operations into four reportable segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. As of 2025, Ameren Missouri represented approximately 52 percent of operating revenues, Ameren Illinois Electric Distribution represented 26 percent, Ameren Illinois Natural Gas represented 1 percent, and Ameren Transmission represented approximately 8 percent, with the remainder from other operations.

Ameren serves millions of customers across its service territories in Missouri and Illinois through an integrated transmission system composed of assets from all three operating subsidiaries. The company operates two MISO balancing authority areas with combined peak demand of approximately 15,500 megawatts. Ameren Missouri's generation portfolio includes nuclear, coal, natural gas, hydroelectric, and renewable energy sources, including wind and solar facilities.

The company's business model centers on rate-regulated utility operations, with revenues determined through regulatory proceedings before the Missouri Public Service Commission, Illinois Commerce Commission, and FERC. Ameren's competitive advantages include its integrated transmission infrastructure, diversified generation portfolio, established regulatory relationships, and participation in organized wholesale markets. The company has invested substantially in grid modernization, renewable energy integration, and customer energy-efficiency programs to support long-term sustainability and regulatory compliance across its service territories.

Sector
Utilities
Industry
Electric, Gas & Water
HQ
ST LOUIS, MO
FY end
12-31
CIK
1002910
SIC
4931
Financial performance · annual
20132025
$-879.90M$1.76B$4.40B$7.04B$9.68B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds AMEREN CORP — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

701
funds hold it
0 of 35
superinvestors hold it
$14.32B
fund-held value
46.0%
of shares held by funds
42
bond issues held by funds

Top fund holders

Fund% of fundValue
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.04%$993.13M
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.05%$810.70M
T. Rowe Price Capital Appreciation Fund
PRWCX · T. ROWE PRICE CAPITAL APPRECIATION FUND, INC.
1.15%$809.47M
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.30%$677.76M
State Street(R) Utilities Select Sector SPDR(R) ETF
XLU · SELECT SECTOR SPDR TRUST
2.20%$509.06M

Bonds held by funds

Funds report holding 42 issues of AMEREN CORP's debt, $2.79B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 4.49%, maturing 20262056.

IssueCouponMaturesFundsFund-held
AMEREN CORP5.375%2035-03-1557$251.92M
Ameren Corp5.000%2029-01-1582$247.96M
AEE 3.5 01/15/313.500%2031-01-1561$175.51M
Ameren Illinois Co.4.950%2033-06-0159$157.03M
UNION ELECTRIC4.800%2036-03-1563$145.59M
Union Electric Co5.200%2034-04-0164$123.20M
Ameren Corp5.000%2036-05-1555$122.30M
AEE 5.7 12/01/265.700%2026-12-0141$120.14M
UNION ELECTRIC CO SR SEC 1ST LIEN 5.25% 04-15-355.250%2035-04-1548$113.06M
AEE 3.85 09/01/323.850%2032-09-0136$89.77M

The 10 largest by fund-held value, of 42.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

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