East was Nrg Energy’s largest segment in fiscal 2025, bringing in $14.26B of $30.71B (46%).
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| East | $16.76B | $12.55B | $11.71B | $14.26B | |||||||||||||
| Texas | $10.06B | $10.47B | $10.65B | $11.14B | |||||||||||||
| Retail | — | — | — | — | |||||||||||||
| Generation | — | — | — | — | |||||||||||||
| Wholesale Power Generation | — | — | — | — | |||||||||||||
| Conventional Power Generation | — | — | — | — | |||||||||||||
| Conventional Generation | — | — | — | — | |||||||||||||
| Reliant Energy | — | — | — | — | |||||||||||||
| Nrg Home Retail | — | — | — | — | |||||||||||||
| West/Other | — | $4.24B | $3.82B | $3.20B | |||||||||||||
| West/Services/Other | $4.71B | — | — | — | |||||||||||||
| Vivint Smart Home | — | $1.59B | $1.99B | $2.14B | |||||||||||||
| Nrg Yield | — | — | — | — | |||||||||||||
| Renewables | — | — | — | — | |||||||||||||
| Nrg Renew | — | — | — | — | |||||||||||||
| Alternative Energy | — | — | — | — | |||||||||||||
| Thermal | — | — | — | — | |||||||||||||
| Corporate | — | — | — | — | |||||||||||||
| Home Solar | — | — | — | — | |||||||||||||
| Consolidation, Eliminations | — | — | — | — | |||||||||||||
| Corporate/Eliminations | $17.00M | -$30.00M | -$40.00M | -$35.00M | |||||||||||||
| Eliminations | — | — | — | — | |||||||||||||
| Elimination | — | — | — | — | |||||||||||||
| Total | $31.54B | $28.82B | $28.13B | $30.71B |
Nrg Energy brought in $30.71B from its five segments in fiscal 2025, the year ended December 31, 2025. That was up 9.2% from $28.13B in fiscal 2024. East was the largest at $14.26B (46.4%), ahead of Texas at $11.14B (36.3%) and West/Other at $3.20B (10.4%). The remaining segment, Vivint Smart Home, brought in $2.14B.
Compared with fiscal 2024, East grew fastest, up 21.8% to $14.26B, while West/Other fell the most, down 16.2% to $3.20B.
Nrg Energy began breaking out Vivint Smart Home in fiscal 2023, when it brought in $1.59B. Nrg Energy stopped reporting West/Services/Other as a separate segment after fiscal 2022, when it brought in $4.71B. The total is net of Corporate/Eliminations, which took $35.00M off revenue in fiscal 2025.
Total Operating Revenue was Nrg Energy’s largest product and service line in fiscal 2025, bringing in $30.75B of $30.71B (100%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Total Operating Revenue | $31.53B | $28.85B | $28.17B | $30.75B | ||||
| Total Operating Revenues | — | — | — | — | ||||
| Corporate/Eliminations | $17.00M | -$30.00M | -$40.00M | -$35.00M | ||||
| Total | $31.54B | $28.82B | $28.13B | $30.71B |
Nrg Energy brought in $30.71B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 9.2% from $28.13B in fiscal 2024. Total Operating Revenue was the largest at $30.75B (100.1%).
From fiscal 2022 to 2025, combined revenue from these lines fell from $31.54B to $30.71B, a compound annual decline of 0.9%. Total Operating Revenue's share held steady at about 100.1%.
The total is net of Corporate/Eliminations, which took $35.00M off revenue in fiscal 2025.
Guarantor Subsidiaries was Nrg Energy’s largest revenue line in fiscal 2017, bringing in $7.82B of $9.12B (86%).
| Consolidated Entities | FY 2015 | FY 2016 | FY 2017 |
|---|---|---|---|
| Guarantor Subsidiaries | $9.88B | $7.54B | $7.82B |
| Non-Guarantor Subsidiaries | $2.54B | $1.45B | $1.30B |
| Total | $12.42B | $8.99B | $9.12B |
Nrg Energy brought in $9.12B from its two revenue lines in fiscal 2017, the year ended December 31, 2017. That was up 1.5% from $8.99B in fiscal 2016. Guarantor Subsidiaries was the largest at $7.82B (85.7%), ahead of Non-Guarantor Subsidiaries at $1.30B (14.3%).
Compared with fiscal 2016, Guarantor Subsidiaries grew 3.7% to $7.82B, while Non-Guarantor Subsidiaries fell 10.1% to $1.30B. From fiscal 2015 to 2017, combined revenue from these revenue lines fell from $12.42B to $9.12B, a compound annual decline of 14.3%. Guarantor Subsidiaries' share of the total rose from 79.5% to 85.7%.
Nrg Energy (NRG) reports its revenue by segment, by product and service and by consolidated entities. In fiscal 2025, East was its largest segment, bringing in $14.26B (46.4% of the total), followed by Texas at $11.14B (36.3%).
East was Nrg Energy's largest segment in fiscal 2025, bringing in $14.26B, or 46.4% of the $30.71B total across its five segments.
Total Operating Revenue was Nrg Energy's largest product and service line in fiscal 2025, bringing in $30.75B, or 100.1% of the $30.71B total across its two product and service lines.
Guarantor Subsidiaries was Nrg Energy's largest revenue line in fiscal 2017, bringing in $7.82B, or 85.7% of the $9.12B total across its two revenue lines.
Among Nrg Energy's segments that make up at least 2% of revenue, East grew fastest in fiscal 2025, up 21.8% from $11.71B to $14.26B.
Every figure comes from Nrg Energy's annual financial filings, as reported. Each line keeps the name Nrg Energy gives it, and years follow its fiscal calendar.
Nrg Energy'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.