Entergy management check
ETR · Utilities · Electric Utilities · CEO Mr. Marsh
Filings as of
3 good · 2 to watch · 1 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $223, against $153 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.41 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
1.0% of net income$16.8m of reported pay in fiscal 2025, against $1.8bn of net income.
- n/a
Do they own the stock?
No recent CEO filingBoth: 1 buyer ($106k) and 2 sellers ($1.6m) in six months. 1 of 2 sales ran on pre-arranged 10b5-1 plans.
- Flag
Are owners being diluted?
Share count growingDiluted shares changed +2.9% a year over the last three fiscal years.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Mr. Denault, Mr. Marsh. 8 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Utilities.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 100 | 53 | |
| Pay for performance | 70 | 81 | |
| CEO cost | 52 | 50 | |
| Skin in the game | — | — | 45 |
| Dilution | 13 | 37 | |
| Stable leadership | 45 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Electric Utilities, by management score. Entergy is 16th of 30 in its sector.
- 30CEGConstellation Energy84
- 62VSTVistra Corp.79
- 143EIXEdison International72
- 145PPLPPL Corporation72
- 252EVRGEvergy64
- 254PEGPublic Service Enterprise Group64
- 270ETREntergy63
- 285LNTAlliant Energy62
- 338EXCExelon59
- 354ESEversource Energy58
Pay versus performance
From the proxy statement filed March 27, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Marsh | $16.8m | $21.8m | $4.1m | $223 | $153 | $1.8bn |
| 2024 | Mr. Marsh | $12.8m | $26.8m | $3.5m | $178 | $131 | $1.1bn |
| 2023 | Mr. Marsh | $10.4m | $7.0m | $3.5m | $114 | $108 | $2.4bn |
| 2022 | Mr. Denault, Mr. Marsh | $13.2m | $17.6m | $3.8m | $121 | $119 | $1.1bn |
| 2021 | Mr. Denault | $17.0m | $26.6m | $4.2m | $117 | $118 | $1.1bn |
The board says pay is tied most to ETR Adjusted EPS. Its other key measures: Adjusted FFO / Debt Ratio, Relative Total Shareholder Return.
Insiders and the CEO's stake
Both: 1 buyer ($106k) and 2 sellers ($1.6m) in six months. 1 of 2 sales ran on pre-arranged 10b5-1 plans.
- BoughtRalph Lewis RoppDirector$106kAug 6, 2026
- SoldJason ChapmanSVP Chief Tech & Bus Servs Off$1.0mJul 30, 2026
- SoldKimberly Cook-nelsonEVP & Chief Operating Officer · 10b5-1 plan$575kJun 25, 2026
Leadership and governance on file
- May 12, 2026Leadership change8-K 5.02
- Mar 30, 2026Leadership change8-K 5.02
- Nov 6, 2025Leadership change8-K 5.02
- Nov 3, 2025Leadership change8-K 5.02
- Jul 28, 2025Leadership change8-K 5.02
- Mar 28, 2025Leadership change8-K 5.02
- Oct 29, 2024Leadership change8-K 5.02
- Sep 26, 2024Leadership change8-K 5.02
- May 10, 2023Leadership change8-K 5.02
- May 4, 2023Leadership change8-K 5.02
- Mar 1, 2023Leadership change8-K 5.02
- Jan 31, 2023Leadership change8-K 5.02
Latest shareholder vote results: May 12, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $4.6bn returned to owners in buybacks and dividends, 100% of net income, and $0 of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $11.7bn | $13.8bn | $12.1bn | $11.9bn | $12.9bn |
| Net income | $1.1bn | $1.1bn | $2.4bn | — | — |
| Stock-based pay | — | — | — | — | — |
| Buybacks | — | — | — | — | — |
| Dividends | $775.1m | $841.7m | $918.2m | $981.7m | $1.1bn |
| Diluted shares | 202m | 411m | 425m | 432m | 450m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.