debt_leverage_profile
0.17x Total Debt / Equity (Conservative)
High
SEC-XBRL
interest_rate_sensitivity
A 20bps rate increase raises annual interest expense ~$30-50M given ~$7B long-term debt; regulated ROE mechanisms partially offset but lag rate cycles by 12-18 months
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Chinese-manufactured transformers and grid equipment; rare-earth magnets for wind turbines sourced via concentrated Asian supply chains
Inferred
Agent_Inference
international_expansion_readiness
null
Inferred
Agent_Inference
geographic_footprint
Purely domestic Kansas and Missouri utility; zero international revenue exposure, no sovereign currency devaluation risk applicable
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Natural Gas, Coal, Uranium, Crude Oil, Copper (grid), Lithium (storage); geopolitical: European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
No single vendor exceeds 30% of input costs; coal and natural gas are commodity-sourced, but transmission equipment suppliers (ABB, Siemens) create moderate non-substitutable hardware dependency
Inferred
Agent_Inference
business_model_type_primary
Regulated electric utility; cloud infrastructure termination would cause minimal operational disruption—core grid operations run on proprietary SCADA/OT systems, not public cloud
Inferred
Agent_Inference
business_model_type_secondary
Rate-regulated asset-heavy utility; no meaningful secondary cloud-dependent business model exists
Inferred
Agent_Inference
switching_cost_profile
Minimal API coupling risk; operational technology runs on proprietary industrial control systems; IT systems use standard enterprise vendors with moderate switching costs
Inferred
Agent_Inference
howey_test_risk_index
Very low Howey Test risk; revenue derives from regulated electricity sales under state commission tariffs, not investment contracts or profit-sharing schemes
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low GDPR exposure (no EU operations); moderate CCPA risk from smart meter customer data collection affecting ~900K Kansas/Missouri residential customers
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; operates as state-sanctioned regulated monopoly in defined service territories, subject to KCC and MPSC oversight rather than competitive antitrust scrutiny
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FERC, NERC, EPA, NRC, State PUCs, DOE; Rate-case lag and clean-energy mandates compress returns on regulated asset base.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~95% recurring via regulated tariff-based electricity sales under multi-year rate cases; ~5% transactional from transmission services and wholesale energy markets
Inferred
Agent_Inference
monetization_vector
Per-kilowatt-hour tariff billing to captive residential, commercial, and industrial customers under state-approved rate schedules
Inferred
Agent_Inference
pricing_architecture
Cost-of-service rate cases filed every 3-5 years; prices set by KCC/MPSC; limited flexibility but fuel adjustment clauses provide partial pass-through protection
Inferred
Agent_Inference
pricing_power_rating
Moderate; regulated ROE of ~9-10% caps upside but guarantees baseline recovery; inflation pass-through via fuel and purchased power adjustment riders provides partial protection
Inferred
Agent_Inference
target_gross_margin_bracket
Regulated utility gross margin ~35-45%; operating margin ~15-20%; constrained by mandatory infrastructure investment and regulatory lag
Inferred
Agent_Inference
churn_vulnerability_index
Near-zero churn risk; captive monopoly service territory with no customer choice; no free-rider leakage problem applicable in traditional utility model
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is sublinear to headcount; capital investment drives capacity, not labor; doubling revenue via rate base growth requires minimal incremental headcount
Inferred
Agent_Inference
marginal_cost_of_growth
Marginal growth cost dominated by capital expenditure ($1.5-2B annually) not labor; incremental revenue from rate base additions has near-zero marginal headcount requirement
Inferred
Agent_Inference
franchise_compliance_risk
null
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC irrelevant—customer growth tied to population/territory expansion; unit economics improve via fixed-cost leverage across larger regulated asset base
Inferred
Agent_Inference
network_effect_present
No meaningful network effects; grid connectivity is one-directional utility delivery; distributed energy resources (rooftop solar) create mild negative network effect pressure
Inferred
Agent_Inference
asset_efficiency_ratio
AI displacement risk low for core operations; AI may optimize grid management and reduce O&M costs 5-10%, but physical asset operation cannot be fully automated
Inferred
Agent_Inference
recession_resistance_tier
Tier 1 recession-resistant; electricity is non-discretionary essential service; residential demand historically declines only 1-3% in recessions; regulatory cost recovery provides further buffer
Inferred
Agent_Inference
customer_segment_primary
Residential customers (~40% of revenue, ~1.6M meters); no single residential customer represents material concentration risk
Inferred
Agent_Inference
customer_segment_secondary
Commercial and industrial customers (~55% of revenue); top 10 industrial customers likely represent 10-15% of total revenue, creating moderate but manageable concentration risk
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.34 (HIL — ~34% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
49.0% CapEx / Revenue (High-CapEx Infrastructure)
High
SEC-XBRL
sec_cik
0001711269
High
SEC-EDGAR
ticker
EVRG
High
SEC-EDGAR