Operating Segments was the largest of Nrg Energy, Inc.’s 2 reported lines in fiscal 2025, at $28.53B — 100% of $28.44B.
| Segment | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Segments | $33.53B | $25.10B | $23.42B | $28.53B | ||||||
| Corporate/Eliminations | $86.00M | -$70.00M | -$116.00M | -$82.00M | ||||||
| Consolidation, Eliminations | — | — | — | — | ||||||
| Total | $33.61B | $25.03B | $23.30B | $28.44B |
In fiscal 2025, which ended December 31, 2025, the 2 segments Nrg Energy, Inc. reported in this breakdown added up to $28.44B. That is less than the $61.50B in its breakdown by segment, so these segments do not account for all of its revenue that year. Operating Segments was the largest segment, at $28.53B or 100.3% of the total.
Figures are shown as reported, so the total is net of Corporate/Eliminations, which was -$82.00M in fiscal 2025. The table also keeps 1 segment that Nrg Energy, Inc. no longer reports, so earlier years can still be read on their original basis; use "Show 1 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2016 to 2025, as reported in Nrg Energy, Inc.'s annual filings.
East was the largest of Nrg Energy, Inc.’s 4 reported lines in fiscal 2025, at $28.53B — 46% of $61.50B.
| Statement Business Segments | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2014 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| East | $33.53B | $25.10B | $23.42B | $28.53B | |||||||||||
| Texas | $20.11B | $20.95B | $21.30B | $22.28B | |||||||||||
| Retail | — | — | — | — | |||||||||||
| Generation | — | — | — | — | |||||||||||
| Reliant Energy | — | — | — | — | |||||||||||
| Nrg Home Retail | — | — | — | — | |||||||||||
| West/Other | — | $8.48B | $7.64B | $6.40B | |||||||||||
| West/Services/Other | $9.41B | — | — | — | |||||||||||
| Wholesale Power Generation | — | — | — | — | |||||||||||
| Conventional Power Generation | — | — | — | — | |||||||||||
| Conventional Generation | — | — | — | — | |||||||||||
| Vivint Smart Home | — | $3.18B | $3.98B | $4.29B | |||||||||||
| Nrg Yield | — | — | — | — | |||||||||||
| Renewables | — | — | — | — | |||||||||||
| Thermal | — | — | — | — | |||||||||||
| Alternative Energy | — | — | — | — | |||||||||||
| Corporate | — | — | — | — | |||||||||||
| Home Solar | — | — | — | — | |||||||||||
| Eliminations | — | — | — | — | |||||||||||
| Elimination | — | — | — | — | |||||||||||
| Total | $63.05B | $57.71B | $56.34B | $61.50B |
In fiscal 2025, which ended December 31, 2025, the 4 segments Nrg Energy, Inc. reported in this breakdown added up to $61.50B. That was up 9.2% from $56.34B in fiscal 2024. East was the largest segment, at $28.53B or 46.4% of the total, followed by Texas ($22.28B, 36.2%) and West/Other ($6.40B, 10.4%). Together, the two largest segments made up 82.6% of this total.
Compared with fiscal 2024, East grew the fastest, rising 21.8% to $28.53B. West/Other fell the most, down 16.2% to $6.40B.
Vivint Smart Home was first reported as a separate segment in fiscal 2023. The table also keeps 16 segments that Nrg Energy, Inc. no longer reports, so earlier years can still be read on their original basis; use "Show 16 discontinued" beneath the table to see them. This breakdown covers 15 fiscal years between 2009 and 2025, as reported in Nrg Energy, Inc.'s annual filings.
Guarantor Subsidiaries was the largest of Nrg Energy, Inc.’s 3 reported lines in fiscal 2012, at $16.00B — 95% of $16.84B.
| Legal Entity | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 |
|---|---|---|---|---|---|
| Guarantor Subsidiaries | $17.17B | $17.01B | $17.46B | $16.00B | |
| Total Operating Revenues | — | — | — | — | |
| Non-Guarantor Subsidiaries | $714.00M | $748.00M | $762.00M | $1.02B | |
| Nrg Energy, Inc | $62.00M | — | — | — | |
| Eliminations | -$40.00M | -$64.00M | -$64.00M | -$170.00M | |
| Total | $17.90B | $17.70B | $18.16B | $16.84B |
In fiscal 2012, which ended December 31, 2012, the 3 revenue lines Nrg Energy, Inc. reported in this breakdown added up to $16.84B. That was down 7.2% from $18.16B in fiscal 2011. Guarantor Subsidiaries was the largest revenue line, at $16.00B or 95.0% of the total, followed by Non-Guarantor Subsidiaries ($1.02B, 6.0%).
Compared with fiscal 2011, Non-Guarantor Subsidiaries grew the fastest, rising 33.6% to $1.02B. Guarantor Subsidiaries fell the most, down 8.4% to $16.00B.
Figures are shown as reported, so the total is net of Eliminations, which was -$170.00M in fiscal 2012. The table also keeps 2 revenue lines that Nrg Energy, Inc. no longer reports, so earlier years can still be read on their original basis; use "Show 2 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2008 to 2012, as reported in Nrg Energy, Inc.'s annual filings.
Nrg Energy, Inc. (NRG) breaks its revenue down by segment and revenue line. In fiscal 2025, its largest segment was Operating Segments, with $28.53B or 100.3% of the total.
Operating Segments was Nrg Energy, Inc.'s largest segment in fiscal 2025, with $28.53B in revenue, 100.3% of the $28.44B reported across its 2 segments.
Guarantor Subsidiaries was Nrg Energy, Inc.'s largest revenue line in fiscal 2012, with $16.00B in revenue, 95.0% of the $16.84B reported across its 3 revenue lines.
Of the Nrg Energy, Inc. segments reported in both fiscal 2024 and fiscal 2025, and making up at least 2% of the total, East grew the fastest, rising 21.8% from $23.42B to $28.53B.
Every figure is taken from Nrg Energy, Inc.'s annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by segment covers fiscal 2016 to 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.