FirmAtlas
Company handbook · CEG · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
CEG · CIK 1868275 · LATEST FILING: 10-Q JUN '26 · FILED AUG 6, 2026
CONSTELLATION ENERGY CORPORATION
$271.37
−3.63 (−1.32%)
Close, Oct 16, 2026 · 52-week $229–406
Last fiscal year
CONSTELLATION ENERGY CORPORATION reported revenue of $22.7B for the year ended Dec 31, 2025 (FY25), up 19.5% from FY24. Net income was $2.3B, operating cash flow $4.2B and free cash flow $1.3B. Source: 10-K filed Feb 24, 2026.
Market cap
$84.7B
P/E
24.4
EV/EBITDA
21.8x
P/B
2.6
Div yield
0.62%
ROIC
11.5%
Revenue 1Y
19.5%/yr
EPS 1Y
−37.8%/yr
Shares 1Y
−0.3%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJoseph Dominguez
HQBaltimore, MD
AuditorPricewaterhouseCoopers LLP
Employees15,339
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
—
—
32.4%
−31.6%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$7.9B deployed
Capex
$5.5B
69.9%
Acquisitions
$46M
0.6%
Dividends
$930M
11.8%
Buybacks
$1.4B
17.7%
Operating cash flow over the period: $1.8B. Total debt changed by −$134M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
18,964
22,663+19.5%
24,780
YoY
+19.5%
Operating income
4,352
3,086−29.1%
4,596
Operating margin
22.9%
13.6%−9.3 pp
—
EBITDA
5,453
4,053−25.7%
—
EBITDA margin
28.8%
17.9%−10.9 pp
—
Interest expense
506
511+1.0%
—
Interest coverage
10.78x
7.93x−2.85x
—
Net income
3,749
2,319−38.1%
3,465
YoY
−38.1%
Net margin
19.8%
10.2%−9.5 pp
—
EPS (diluted, $)
11.89
7.40−37.8%
10.26
YoY
−37.8%
Balance sheet
Total assets
52,926
57,249+8.2%
98,253
Cash & short-term investments
3,129
3,748+19.8%
—
Accounts receivable
3,718
4,266+14.7%
—
Inventory
1,600
1,736+8.5%
—
Net PP&E
21,235
22,474+5.8%
—
Other assets
23,244
25,025+7.7%
—
Total liabilities
39,760
42,732+7.5%
66,276
Accounts payable
2,369
2,813+18.7%
—
Total debt
7,384
7,250−1.8%
19,111
Other liabilities
30,007
32,669+8.9%
—
Shareholders’ equity
13,166
14,517+10.3%
31,977
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
(2,464)
4,237n/m
4,206
Net income
3,738
2,323−37.9%
—
Depreciation & amortization
1,101
967−12.2%
—
Stock-based compensation
332
385+16.0%
—
Working capital & other
(7,635)
562n/m
—
Cash from investing
7,428
(3,198)−143.1%
—
Capex
(2,565)
(2,949)n/m
—
Acquisitions
(32)
(14)n/m
—
Other investing
10,025
(235)−102.3%
—
Cash from financing
(2,289)
(420)n/m
—
Debt raised
920
0−100.0%
—
Debt repaid
(121)
(1,076)n/m
—
Dividends
(444)
(486)n/m
—
Buybacks
(999)
(400)n/m
—
Other financing
(1,645)
1,542n/m
—
Net change in cash
2,675
619−76.9%
—
Free cash flow (OCF − capex)
(5,029)
1,288n/m
309
Where the cash went
Operating cash flow
(2,464)
4,237n/m
4,206
Reinvested in the business
2,597
2,963+14.1%
—
% of operating cash flow
—
69.9%
Capex
2,565
2,949+15.0%
3,897
Acquisitions
32
14−56.2%
—
Free cash flow
(5,029)
1,288n/m
309
YoY
n/m
Returned to shareholders
1,443
886−38.6%
—
% of free cash flow
—
68.8%
Dividends
444
486+9.5%
—
Buybacks
999
400−60.0%
—
Change in total debt
—
(134)
—
Cash left over
—
254
—
FCF conversion (FCF ÷ net income)
−134.1%
55.5%+189.7 pp
—
Owner earnings
—
97
—
Owner earnings margin
—
0.4%
—
Buyback yield
1.4%
0.4%−1.1 pp
—
Returns & ratios
ROIC (all capital)
20.7%
11.5%−9.2 pp
—
ROIC (operating)
14.9%
8.2%−6.7 pp
—
Net debt / EBITDA
0.78x
0.86x+0.08x
—
Debt / equity
0.56x
0.50x−0.06x
—
ROE
28.5%
16.0%−12.5 pp
—
ROA
7.1%
4.1%−3.0 pp
—
ROCE
9.4%
6.3%−3.2 pp
—
NOPAT
3,606
2,043−43.4%
—
Invested capital (operating)
24,184
25,663+6.1%
—
Invested capital (all)
17,421
18,019+3.4%
—
Reinvestment rate
—
72.4%
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
5,703
5,693
7,541
5,843
vs year-ago quarter
Operating income
1,086
598
2,332
580
Net income
930
432
1,590
513
vs year-ago quarter
Net margin
16.3%
7.6%
21.1%
8.8%
EPS (diluted, $)
2.97
1.38
4.49
1.42
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
56,161
57,249
96,911
98,253
Cash & equivalents
4,091
3,748
1,171
1,077
Total debt
8,919
7,250
16,994
19,111
Shareholders’ equity
14,350
14,517
33,483
31,977
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
1,848
805
425
1,128
Capex
390
986
1,275
1,246
Free cash flow
1,458
(181)
(850)
(118)
vs year-ago quarter