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CEG Constellation Energy Corp

NasdaqUtilitiesElectric ServicesBaltimore, MDFY ends December 31

Profitable 3/4: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 24, 2026 (SEC EDGAR)

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$25.5BYoYup 8.34%ended Dec 31, 2025
Net income
$2.32B9.1% margin
Diluted EPS
$7.40YoYdown 37.76%
Free cash flow
$1.29B5.0% margin
Cash
$3.64BNet debt $5.35B
Total debt
$8.99BD/E 0.62×
About Constellation Energy Corp

Overview

Constellation Energy Corp (CEG) is listed on Nasdaq; the SEC classifies it under "Electric Services".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $25.53B, up 8.3% from fiscal 2024.

Net income was $2.32B, a net margin of 9.1%.

At fiscal year end it had total assets of $57.25B and stockholders' equity of $14.52B (25.4% of assets).

Fiscal years shown
FY2022–FY2025 (4 years)
Latest 10-K
Feb 24, 2026
Latest filing
10-QAug 6, 2026
FY2022–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2022 to FY2025.
PeriodRevenueNet incomeNet margin
FY2022$24.4B-$160M-0.7%
FY2023$24.9B$1.62B6.5%
FY2024$23.6B$3.75B15.9%
FY2025$25.5B$2.32B9.1%

Diluted EPS

Diluted EPS, fiscal years FY2022 to FY2025.
PeriodEPS (diluted)
FY2022-$0.49
FY2023$5.01
FY2024$11.89
FY2025$7.40

Free cash flow vs net income

Free cash flow vs net income, fiscal years FY2022 to FY2025.
PeriodFree cash flowNet income
FY2022-$4.04B-$160M
FY2023-$7.72B$1.62B
FY2024-$5.03B$3.75B
FY2025$1.29B$2.32B

Diluted shares

Diluted shares, fiscal years FY2022 to FY2025.
PeriodDiluted shares (weighted)
FY2022329M
FY2023324M
FY2024315M
FY2025314M

Cash vs total debt

Cash vs total debt, fiscal years FY2022 to FY2025.
PeriodCash & equivalentsTotal debt
FY2022$422M$5.77B
FY2023$368M$9.26B
FY2024$3.02B$8.41B
FY2025$3.64B$8.99B

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Operating margin
12.1%
Net margin
9.1%
FCF margin
5.0%
Return on equity
16.8%
Return on assets
4.2%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR
Revenueup 8.34%up 1.47%
EPS (diluted)down 37.76%—
Free cash flow——
Change in share count
-0.32%

Financial strength

Current ratio
1.53×
Debt / equity
0.62×
Liabilities / assets
74.1%
Net debt
$5.35B
Interest coverage
6.04×
Equity / assets
25.4%

Shareholder returns

Dividends per share
$0.39
Dividends paid
$486M
Buybacks
$400M
Payout ratio
21.0%
Stock comp. / revenue
1.5%
Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

6 of 8 checks passed

FY2025 vs FY2024

Partial: 8 of 9 checks could be computed.

  • PassPositive return on assets4.4%
  • PassPositive operating cash flow$4.24B
  • FailReturn on assets improved4.4% vs 7.4%
  • PassOperating cash flow above net income8.0% vs 4.4%
  • PassLong-term debt / assets fell12.7% vs 14.0%
  • FailCurrent ratio improved1.53× vs 1.57×
  • PassNo increase in share count314M vs 315M
  • —Not computableGross margin improved—
  • PassAsset turnover improved0.48× vs 0.46×

Altman Z''-Score

Grey zone (1.10–2.60)

FY2025

Altman Z''-Score: Components
ComponentsRatioWeightPoints
Working capital / assets0.073×6.560.48
Retained earnings / assets0.103×3.260.34
Operating income / assets0.054×6.720.36
Equity / liabilities0.342×1.050.36
Z''1.54

Screening heuristic, not a recommendation. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Last 4 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022
Revenue25,53323,56824,91824,440
YoY (Revenue)+8.34%-5.42%+1.96%—
Operating income3,0864,3521,610495
Interest expense511506431250
Pretax income3,5114,5162,447-542
Income tax1,187774859-388
Net income2,3193,7491,623-160
YoY (Net income)-38.14%+130.99%——
EPS (basic)7.4011.915.02-0.49
EPS (diluted)7.4011.895.01-0.49
YoY (EPS (diluted))-37.76%+137.33%——
Diluted shares (weighted)314315324329

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022
Cash & equivalents3,6413,022368422
Receivables4,2663,1161,9342,585
Inventory1,736———
Current assets12,11910,7768,2999,360
Goodwill420420425—
Total assets57,24952,92650,75846,909
Current liabilities7,9446,8466,3197,839
Short-term debt1,7421,0281,7651,302
Long-term debt7,2507,3847,4964,466
Total liabilities42,39639,38739,47235,537
Retained earnings5,8994,066761-496
Stockholders' equity14,51713,16610,92511,018
Shares outstanding312313317327

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022
Operating cash flow4,237-2,464-5,301-2,353
Capital expenditures2,9492,5652,4221,689
Free cash flow1,288-5,029-7,723-4,042
Stock-based compensation385332178116
Share repurchases400999992—
Dividends paid486444366185
Dividends per share0.390.350.280.14
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$7.40
Revenue per share
$81.32
FCF per share
$4.10
Book value per share
$46.23
Tangible book per share
$44.89
Cash per share
$11.60
Dividends per share
$0.39
Public floatas of Jun 30, 2025
$101B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
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P/EPrice ÷ diluted EPS
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P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
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P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  2. 8-K
    Current report· Aug 6, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  3. 8-K
    Current report· Aug 4, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 9.01Financial statements and exhibits
  4. 8-K
    Current report· Jul 14, 2026(SEC EDGAR)
    • 8.01Other events
  5. 8-K
    Current report· Jun 1, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  6. 10-Q
    Quarterly report· Mar 31, 2026(SEC EDGAR)
  7. 8-K
    Current report· May 11, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  8. 8-K
    Current report· Apr 28, 2026(SEC EDGAR)
    • 5.07Shareholder vote results
  9. 8-K/A
    Current report (amendment)· Apr 17, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  10. 8-K
    Current report· Mar 31, 2026(SEC EDGAR)
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
All filings on SEC EDGAR
SIC 4911 · Electric Services

Peers (same SIC code)

Peers (same SIC code)
TickerRevenue (FY)YoYNet marginROEF-Score5y revenue
SOSOUTHERN CO$29.6Bup 10.59%14.7%12.5%—
NEENEXTERA ENERGY INC$25.8Bup 9.79%26.5%13.1%—
CEGConstellation Energy Corp (This company)$25.5Bup 8.34%9.1%16.8%—
Peer median$27.7Bup 10.19%20.6%12.8%——

Companies with the same 4-digit SIC code, ordered by latest revenue. The median excludes this company. — = not reported or not computable.

Frequently asked questions

What does Constellation Energy Corp do?

The SEC classifies Constellation Energy Corp under Standard Industrial Classification (SIC) code 4911, "Electric Services". It is headquartered in Baltimore, MD. It is incorporated in PA. In fiscal 2025 it reported revenue of $25.53B and net income of $2.32B in its annual 10-K report.

What was Constellation Energy Corp's revenue in 2025?

Constellation Energy Corp reported revenue of $25.53B for fiscal 2025, which ended Dec 31, 2025, up 8.3% from $23.57B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 24, 2026.

What was Constellation Energy Corp's net income in 2025?

Constellation Energy Corp reported net income of $2.32B for fiscal 2025, a net margin of 9.1% of revenue.

Where is Constellation Energy Corp listed?

According to the SEC, Constellation Energy Corp's ticker CEG is listed on Nasdaq.

When does Constellation Energy Corp's fiscal year end?

According to the SEC, Constellation Energy Corp's fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.