C 
Constellation Energy CEG · USD
Utilities · Electric Utilities · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
276.09
+10.46%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$25.53bn
FY2016FY2025
Net income
$2.32bn
FY2016FY2025
Free cash flow
$1.29bn
FY2016FY2025
Shareholders' equity
$14.52bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.53bn | $23.57bn | $24.92bn | $24.44bn | $19.65bn | $17.60bn | $18.92bn | $20.44bn | $18.50bn | $17.76bn |
| Operating income | $3.09bn | $4.35bn | $1.71bn | $495.0m | $341.0m | $256.0m | $1.32bn | $975.0m | $947.0m | $820.0m |
| Net income | $2.32bn | $3.75bn | $1.62bn | −$160.0m | −$205.0m | $589.0m | $1.13bn | $370.0m | $2.71bn | $483.0m |
| Diluted earnings per share | 7.39 | 11.94 | 5.07 | -0.49 | -0.63 | 1.80 | 3.44 | 1.13 | 8.31 | 1.48 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $57.25bn | $52.93bn | $50.76bn | $46.91bn | $48.09bn | $48.09bn | $48.99bn | $47.56bn | $48.46bn | $46.97bn |
| Cash and short-term investments | $3.75bn | $3.02bn | $368.0m | $422.0m | $504.0m | $226.0m | $303.0m | $750.0m | $416.0m | $290.0m |
| Total liabilities | $42.40bn | $39.39bn | $39.47bn | $35.54bn | $36.47bn | $33.42bn | $33.16bn | $32.05bn | $32.50bn | $33.72bn |
| Debt | $8.99bn | $8.41bn | $9.26bn | $5.77bn | $8.20bn | $7.21bn | $8.29bn | $1.01bn | $402.0m | $1.87bn |
| Shareholders' equity | $14.52bn | $13.17bn | $10.93bn | $11.02bn | $11.22bn | $12.40bn | $13.48bn | $13.20bn | $13.67bn | $11.48bn |
| Shares outstanding | 314m | 314m | 320m | 329m | 327m | 327m | 327m | 326m | 326m | 326m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $4.24bn | −$2.46bn | −$5.30bn | −$2.35bn | −$1.34bn | $584.0m | $2.87bn | $3.86bn | $3.30bn | $4.44bn |
| Capital spending | −$2.95bn | −$2.56bn | −$2.42bn | −$1.69bn | −$1.33bn | −$1.75bn | −$1.84bn | −$2.24bn | −$2.26bn | −$3.08bn |
| Free cash flow | $1.29bn | −$5.03bn | −$7.72bn | −$4.04bn | −$2.67bn | −$1.16bn | $1.03bn | $1.62bn | $1.04bn | $1.36bn |
| Dividends paid | −$486.0m | −$444.0m | −$366.0m | −$185.0m | −$1.83bn | −$1.73bn | −$899.0m | −$1.00bn | −$659.0m | −$922.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.51bn | $11.12bn | $6.07bn | $7.18bn | $6.10bn | $6.79bn | $5.38bn | $6.55bn |
| Operating income | $580.0m | $2.32bn | $145.0m | $1.54bn | $951.0m | $451.0m | $972.0m | $1.47bn |
| Net income | $513.0m | $1.60bn | $432.0m | $930.0m | $839.0m | $118.0m | $852.0m | $1.20bn |
| Diluted earnings per share | 1.45 | 4.53 | 1.38 | 2.96 | 2.67 | 0.38 | 2.71 | 3.82 |
| Cash from operations | $1.13bn | $425.0m | $805.0m | $1.85bn | $1.48bn | $107.0m | −$1.02bn | −$112.0m |
| Capital spending | −$1.25bn | −$1.27bn | −$986.0m | −$390.0m | −$767.0m | −$806.0m | −$729.0m | −$552.0m |
| Free cash flow | −$118.0m | −$850.0m | −$181.0m | $1.46bn | $710.0m | −$699.0m | −$1.75bn | −$664.0m |
| Total assets | $98.25bn | $96.91bn | $57.25bn | $56.16bn | $53.04bn | $52.25bn | $52.93bn | $51.83bn |
| Cash and short-term investments | $1.08bn | $1.17bn | $3.75bn | $4.09bn | $2.06bn | $1.85bn | $3.02bn | $1.79bn |
| Debt | $24.70bn | $22.47bn | $8.99bn | $9.04bn | $8.31bn | $8.36bn | $8.41bn | $8.41bn |
| Shareholders' equity | $31.98bn | $33.48bn | $14.52bn | $14.35bn | $13.45bn | $12.96bn | $13.17bn | $12.57bn |
Financial ratios
Data as of 9 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 15.8% | 18.1% | 6.9% | 2.0% | 1.7% | 9.2% |
| Net margin | 9.1% | 15.9% | 6.5% | -0.7% | -1.0% | 3.3% |
| Return on equity | 16.0% | 28.5% | 14.9% | -1.5% | -1.8% | 4.8% |
| Return on assets | 4.1% | 7.1% | 3.2% | -0.3% | -0.4% | 1.2% |
| Free cash flow yield | 7.7% | 0.1% | -3.0% | -0.7% | -0.0% | 2.4% |
| Revenue growth | 8.3% | -5.4% | 2.0% | 24.4% | 11.6% | -7.0% |
| Earnings growth | -38.1% | 131.0% | -1114.4% | -22.0% | -134.8% | -47.6% |
| Current ratio | 1.53x | 1.57x | 1.31x | 1.19x | 1.00x | 1.33x |
| Debt to equity | 0.62x | 0.64x | 0.85x | 0.52x | 0.73x | 0.58x |
| Equity ratio | 25.4% | 24.9% | 21.5% | 23.5% | 23.3% | 25.8% |
| Interest coverage | 7.87x | 8.44x | 3.96x | 1.97x | 1.15x | 4.55x |
| Buybacks as a share of market value | 0.0% | 1.9% | 2.7% | -0.7% | 0.0% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.5% | 7.7% | 2.9% |
| Operating income | 84.0% | 64.5% | 3.1% |
| Net income | — | 31.5% | 5.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 15.1% | 9.8% | 7.5% | 7.2% |
| Net margin | 12.4% | 7.6% | 5.8% | 6.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 47.8 | 18.7 | 23.1 | -177.3 |
| Price to sales | 4.3 | 3.0 | 1.5 | 1.2 |
Market value over time
31 Jan 2022 to 8 Sept 2026, in USD
$15.74bn$105.86bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Return | 60% | 87% | 38% | 109% |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 16 Nov 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 1.706 | 1.551 | 1.41 | 1.128 | 0.564 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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