Ameren Missouri was Ameren’s largest segment in fiscal 2025, bringing in $4.80B of $8.80B (54%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ameren Missouri | $4.05B | $3.86B | $3.99B | $4.80B | |||||||||||||
| Union Electric Company | — | — | — | — | |||||||||||||
| Ameren Illinois Company | — | — | — | — | |||||||||||||
| Ameren Illinois Electric Distribution | $2.26B | $2.22B | $2.09B | $2.40B | |||||||||||||
| Merchant Generation | — | — | — | — | |||||||||||||
| Ameren Illinois Gas | $1.18B | $897.00M | $938.00M | $968.00M | |||||||||||||
| Ameren Transmission | $615.00M | $677.00M | $781.00M | $862.00M | |||||||||||||
| Other | — | — | — | — | |||||||||||||
| Intersegment Elimination | -$140.00M | -$151.00M | -$178.00M | -$225.00M | |||||||||||||
| Total | $7.96B | $7.50B | $7.62B | $8.80B |
Ameren brought in $8.80B from its five segments in fiscal 2025, the year ended December 31, 2025. That was up 15.4% from $7.62B in fiscal 2024. Ameren Missouri was the largest at $4.80B (54.5%), ahead of Ameren Illinois Electric Distribution at $2.40B (27.3%) and Ameren Illinois Gas at $968.00M (11.0%). The remaining segment, Ameren Transmission, brought in $862.00M.
Compared with fiscal 2024, Ameren Missouri grew fastest, up 20.1% to $4.80B. Every segment above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these segments grew from $7.96B to $8.80B, a compound annual growth rate of 3.4%. Ameren Missouri's share of the total rose from 50.8% to 54.5%.
The total is net of Intersegment Elimination, which took $225.00M off revenue in fiscal 2025.
Electric was Ameren’s largest product and service line in fiscal 2025, bringing in $7.89B of $8.80B (90%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Electric | $6.72B | $6.59B | $6.72B | $7.89B | ||||||
| Electricity | — | — | — | — | ||||||
| Natural Gas | $1.38B | $1.06B | $1.08B | $1.13B | ||||||
| Intersegment Elimination | -$140.00M | -$151.00M | -$178.00M | -$225.00M | ||||||
| Total | $7.96B | $7.50B | $7.62B | $8.80B |
Ameren brought in $8.80B from its three product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 15.4% from $7.62B in fiscal 2024. Electric was the largest at $7.89B (89.7%), ahead of Natural Gas at $1.13B (12.9%).
Compared with fiscal 2024, Electric grew 17.5% to $7.89B and Natural Gas grew 4.4% to $1.13B. From fiscal 2022 to 2025, combined revenue from these lines grew from $7.96B to $8.80B, a compound annual growth rate of 3.4%. Electric's share of the total rose from 84.5% to 89.7%.
The total is net of Intersegment Elimination, which took $225.00M off revenue in fiscal 2025.
Union Electric Company was Ameren’s largest revenue line in fiscal 2017, bringing in $3.54B of $6.06B (58%).
| Legal Entity | FY 2009 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2017 |
|---|---|---|---|---|---|---|---|
| Union Electric Company | $3.55B | $3.61B | $3.54B | ||||
| Ameren Illinois Company | $2.50B | $2.47B | $2.53B | ||||
| Ameren Energy Generating Company | — | — | — | ||||
| Total | $6.05B | $6.08B | $6.06B |
Ameren brought in $6.06B from its two revenue lines in fiscal 2017, the year ended December 31, 2017. That was down 0.2% from $6.08B in fiscal 2015, the previous year with figures. Union Electric Company was the largest at $3.54B (58.3%), ahead of Ameren Illinois Company at $2.53B (41.7%).
Compared with fiscal 2015, the previous year with figures, Ameren Illinois Company grew 2.5% to $2.53B, while Union Electric Company fell 2.0% to $3.54B. From fiscal 2014 to 2017, combined revenue from these revenue lines grew from $6.05B to $6.06B, a compound annual growth rate of 0.1%. Union Electric Company's share held steady at about 58.3%.
Ameren (AEE) reports its revenue by segment, by product and service and by legal entity. In fiscal 2025, Ameren Missouri was its largest segment, bringing in $4.80B (54.5% of the total), followed by Ameren Illinois Electric Distribution at $2.40B (27.3%).
Ameren Missouri was Ameren's largest segment in fiscal 2025, bringing in $4.80B, or 54.5% of the $8.80B total across its five segments.
Electric was Ameren's largest product and service line in fiscal 2025, bringing in $7.89B, or 89.7% of the $8.80B total across its three product and service lines.
Union Electric Company was Ameren's largest revenue line in fiscal 2017, bringing in $3.54B, or 58.3% of the $6.06B total across its two revenue lines.
Among Ameren's segments that make up at least 2% of revenue, Ameren Missouri grew fastest in fiscal 2025, up 20.1% from $3.99B to $4.80B.
Every figure comes from Ameren's annual financial filings, as reported. Each line keeps the name Ameren gives it, and years follow its fiscal calendar.
Ameren's revenue by segment goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.