CFC recently released the 2025 Key Ratio Trend Analysis (KRTA) report, providing an in-depth look at the financial and operational performance of 814 electric distribution cooperatives for 2025. The results show that electric cooperatives maintained and enhanced their financial performance through strong electric sales and consumer growth while continuing significant investment in utility plant.
“In 2025, rural electric cooperatives continued to grow and invest in their systems while maintaining financial health and stability,” CFC Senior Vice President and Chief Corporate Affairs Officer Brad Captain said. “Despite elevated interest rates and inflation, they demonstrated strong fiscal stewardship and commitment to provide essential services to their communities.”
“In 2025, rural electric cooperatives continued to grow and invest in their systems while maintaining financial health and stability.”
Sales growth continued to rebound from 2023, outpacing consumer growth.
Consumer growth continued in 2025, with nearly 87% of cooperatives reporting increases. Utah, Florida, Idaho and Texas were among those states with the highest growth rates. This steady expansion was accompanied by strategic, long-term investments in utility plant, continuing the momentum of sustained infrastructure growth.
“While expenses have increased, strong electric sales and consumer growth have strengthened margins,” CFC Senior Vice President of Strategic Services Amy Luongo said. “Revenue growth helped support ongoing operations, infrastructure investment and financial stability during a period of elevated costs.”
While expenses have increased, strong electric sales and consumer growth have strengthened margins. Revenue growth helped support ongoing operations, infrastructure investment and financial stability during a period of elevated costs.
KRTA ratios in 2025 continued to reflect strong financial management across the cooperative network. The median equity-to-asset ratio held nearly steady at 44% and long-term debt accounted for 43% of total assets, which was largely unchanged from 2024.
Coverage ratios were also healthy, with the median times interest earned ratio at 2.64 and modified debt service coverage at 1.90, continuing solid earnings relative to debt obligations.
Since 1975, CFC has published KRTA—an annual report that tracks the median value of 145 financial and operational ratios for participating distribution cooperatives.
KRTA Pro Enhancements Are Now Live
In coordination with the release of the 2025 KRTA report, CFC is proud to announce the fifth release of KRTA Pro. This latest version includes the following enhancements:
- Enhanced Executive Summary with High-Low Dashboard: Select a comparison percentage and year to identify ratios and ratio categories that fall within the highest and lowest ranges relative to the U.S. Total Median, with detailed five-year trend analysis.
- New Report Formatting Options: Choose between dark (blue) or light (gray) column styles, toggle system labels on or off and use reports updated with CFC branding.
- Expanded Statewide Report Access: Statewide associations can now access the Statewide Report to review member cooperative performance, statewide trends and comparative benchmarking results.
KRTA Pro provides distribution cooperatives a view of 145 ratios with more than 20 years of data online, without the need to download any files. CFC members can export chart images directly into PowerPoint and data into Excel and compare values against standard or independent peer groups, including U.S. median, state, consumer size, power supplier and plant growth. You can also create your own peer group.
In addition to the Master Report, KRTA Pro offers several interactive reports that help members analyze cooperative performance from different perspectives. The Stacked Column Report allows members to examine the components of various ratios while the State Median Report provides a U.S. heat map and year-by-year rankings from highest to lowest for all ratios. The Executive Summary Report, launched last year, was designed to give CEOs and CFOs a quick snapshot of six key ratios simultaneously, allowing them to assess overall cooperative performance in a single view.
CFC members with “Account Portfolio” permission can access KRTA Pro by logging in to the CFC Member Website, opening the Financial Analysis tab and then selecting KRTA Pro.
Traditional KRTA reports will continue to be available in the CFC Member Website Document Center and under the Financial Analysis tab.