— Know what they know.
/
Not Investment Advice

CEG

NASDAQ · USD
Constellation Energy Corporation
Utilities · Independent Power Producers
CEO Joseph Dominguez Employees 15,291 R&D / revenue 0.0%
Last price
$271.37−1.32%last session
Market cap
$96.1B
P/E (TTM)
26.3x
From 52w high
−33.2%
From 52w low
+18.7%
1-year return
−31.5%
RSI 14 · vs SMA200
47.1 · −4.5%
IS score
41.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

CEG   SPY   XLU (sector ETF) · weekly closes
6080100120Jan 26Apr 26Jul 26Oct 26SPY 116XLU 92CEG 69

Score DNA

Each bar is a 0-100 score within the scored universe
32
Profitability
70
Growth
52
Value
93
Momentum
30
Risk (safety)
60
Quality
52
Balance sheet
82
Earnings quality

Flags

Strengths
✓ Insider buying✓ Congress buying
Warnings
▲ Altman distress zone▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 3 / 9Altman Z 1.5Beta 1.124 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
1
$0.42M bought
Form 144 notices (12m): 4, $21.6M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
4
Last disclosed purchase 2026-06-12
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−37
191 new holders, 206 closed
1,858 filers hold 81.9% · 827 added, 587 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+257
1,247 funds adding shares
990 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
41.9%
20-day avg 56.4%, 50-day avg 55.2%
Latest 14.5 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$25.5B
Revenue growth YoY+8.3%
Gross margin75.8%
Operating income$3.1B
Operating margin12.1%
Net income$2.3B
Net margin9.1%
EPS (diluted)$7.40
Cash flow
Operating cash flow$4.2B
Capital expenditure$2.9B
Free cash flow$1.3B
FCF conversion (FCF / OCF)30.4%
Stock-based compensation$0
FCF less SBC$1.3B
Buybacks$400.0M
Dividends$486.0M
Balance sheet & returns
Cash & short-term investments$3.7B
Total debt$9.0B
Net debt$5.2B
Shareholders' equity$14.9B
Goodwill & intangibles$420.0M
Debt / equity0.77
ROE (TTM)14.7%
ROIC (TTM)3.4%
Operating margin by fiscal year
2.0%FY20226.5%FY202318.5%FY202412.1%FY2025
Revenue $19.6B (FY2021) to $25.5B (FY2025), a 6.8% CAGR.

Valuation

P/E (TTM)26.3x
EV / EBITDA15.0x
Price / sales3.07x
Price / FCF311.2x
FCF yield0.32%
Buyback yield0.42%
SBC / revenue0.0%
Price / book3.00x
Forward P/E FY202622.5x
Forward P/E FY202720.4x
Forward P/E FY202816.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $360.50 across 10 analysts last quarter is theirs, not ours.

CEG vs industry median

33 companies in Independent Power Producers
Gross margin 22.2% 22.6% Operating margin 14.7% 12.4% Net margin 11.1% 7.1% ROIC 3.4% 3.0%
CEG (TTM)Industry median Asset turnover 0.32 vs industry 0.25 · financial leverage 3.07

Earnings delivery

Next report 2026-11-09 · consensus EPS $3.72
67%
beat rate, 8 of 12 quarters
+3.4%
median EPS surprise
3
longest beat streak
+59-106+40-2+3+13-2+4-2+1+8+11
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-06 to 2026-08-06. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
CEG Constellation Energy Corpora $96.1B26.3x14.7%11.1%+8.3% −31.5%
VST Vistra Corp. $51.0B25.3x43.1%7.6%−28.4% −27.8%
NRG NRG Energy, Inc. $21.8B27.3x23.8%6.8%+12.9% −38.2%
TLN Talen Energy Corporation $16.8Bn/m-12.9%-12.3%+65.8% −15.1%
DUK Duke Energy Corporation $94.7B18.2x9.9%14.4%+6.7% −1.3%
SO The Southern Company $104.9B21.9x12.7%16.8%+6.4% —
AEP American Electric Power Comp $69.2B21.8x10.1%13.1%+7.7% —
D Dominion Energy, Inc. $55.9B22.0x9.1%7.5%+20.3% —
12-month window: SPY +15.9%, sector ETF XLU −8.1%. Past returns describe history only.

Recent 8-K filings

2026-08-06Earnings Release; Regulation FD; Exhibits
2026-08-05Officer/Director Change; Exhibits
2026-07-14Other Events
2026-06-02Other Events; Exhibits
2026-05-01Shareholder Vote
2026-04-20Other Events; Exhibits

Context

Shares outstanding354,307,393
Free float95.6%
Institutional ownership81.9%
Beta1.12
Dividend yield0.61%
Last dividend$0.43 on 2026-08-18
50 / 200-day average$275.48 / $284.64
Large-cap Utilities median P/E20.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where CEG sits among 7 scored companies in Independent Power Producers (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureCEGIndustry medianIndustry percentileSector median
P/E (TTM) 27.6x — 20.7x
PEG (P/E ÷ 3-yr EPS CAGR) 0.46 — 2.20
Price / sales 3.1x 2.9x
60th		 2.4x
Price / book 3.0x 3.0x
50th		 1.9x
Price / tangible book 4.3x 4.3x
40th		 2.1x
Price / free cash flow 311.2x — 34.3x
Price / operating cash flow 22.9x 16.9x
100th		 9.2x
Enterprise value $119.8B $26.1B
100th		 $25.7B
EV / sales 3.8x 3.9x
40th		 4.5x
EV / EBITDA 14.6x 13.4x
60th		 11.9x
EV / EBIT 22.5x 26.5x
20th		 19.6x
EV / free cash flow 387.6x — 35.3x
Earnings yield 3.6% 3.6%
50th		 4.8%
FCF yield 0.3% 0.3%
50th		 -4.2%
Operating cash flow yield 4.4% 5.1%
17th		 10.3%
Graham number (per share) $141.31 — $48.77

Profitability (TTM)

MeasureCEGIndustry medianIndustry percentileSector median
Gross margin 22.2% 22.2%
50th		 43.4%
EBITDA margin 26.3% 23.0%
80th		 38.7%
Operating margin 14.7% 7.0%
100th		 20.9%
EBIT margin 17.0% 13.8%
60th		 23.2%
Net margin 11.1% 6.3%
80th		 12.4%
NOPAT margin 9.9% 5.7%
100th		 18.1%
FCF margin 1.0% 1.0%
40th		 -7.6%
Operating cash flow margin 13.5% 16.7%
40th		 28.3%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 5.7% 10.6%
0th		 4.2%
Stock comp / revenue 0.0% 1.0%
0th		 0.0%
Effective tax rate 32.4% 21.0%
100th		 18.4%

Returns on capital

MeasureCEGIndustry medianIndustry percentileSector median
ROE (on average equity) 15.3% 8.2%
67th		 9.5%
ROA 4.6% 2.1%
83rd		 2.6%
ROIC 5.6% 3.0%
67th		 5.5%
ROCE 6.2% 4.9%
67th		 5.1%
Return on tangible assets 7.0% 4.3%
83rd		 4.7%
Cash ROIC (OCF / invested capital) 7.6% 7.6%
50th		 8.0%
Gross profitability (GP / assets) 23.9% 5.9%
100th		 8.6%
ROIC, 3-yr average 6.7% 5.4%
60th		 4.2%
ROIC, 5-yr average 5.8% 5.8%
50th		 4.2%
ROE, 5-yr average 12.2% 12.6%
25th		 9.1%
Incremental ROIC 3.0% 1.2%
67th		 20.6%

Growth

MeasureCEGIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 26.0% 19.5%
60th		 7.2%
Revenue growth (QoQ) -32.5% -20.5%
20th		 -16.9%
Revenue CAGR, 3 yr 5.8% 4.4%
60th		 3.0%
Revenue CAGR, 5 yr —
Gross profit CAGR, 3 yr 120.8% — 7.9%
Operating income CAGR, 3 yr 111.1% — 9.4%
Net income growth (TTM YoY) 15.6% — 8.6%
Net income CAGR, 3 yr 64.9% — 8.8%
EPS growth (TTM YoY) 2.5% — 4.2%
EPS CAGR, 3 yr 60.3% — 6.6%
EPS CAGR, 5 yr —
FCF growth (TTM YoY) —
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr —
Book value CAGR, 3 yr 37.7% 4.3%
100th		 4.7%
Dividend CAGR, 3 yr 2.8% — 0.3%
Sustainable growth rate 12.9% — 3.7%

Margin history & stability

MeasureCEGIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 38.4% 27.8%
100th		 42.6%
Operating margin, 3-yr average 14.0% 7.5%
80th		 20.0%
Net margin, 3-yr average 11.1% 10.4%
60th		 12.5%
FCF margin, 3-yr average -14.0% 0.5%
20th		 -7.9%
Revenue stability (0-1) 0.37 0.75
17th		 0.75
Earnings stability (0-1) 0.96 0.64
100th		 0.51
Margin stability (0-1) 0.03 0.15
20th		 0.84

Liquidity (latest quarter)

MeasureCEGIndustry medianIndustry percentileSector median
Cash & short-term investments $1.1B $435.0M
67th		 $215.5M
Net cash (− = net debt) −$23.6B −$9.3B
0th		 −$12.1B
Working capital $5.9B −$58.7M
100th		 −$284.5M
Current ratio 1.46 0.97
67th		 0.82
Quick ratio 1.20 0.97
67th		 0.69
Cash ratio (cash + ST investments / current liabilities) 0.08 0.14
33rd		 0.08
Defensive interval (days) 111 days 381 days
0th		 314 days

Leverage & solvency (latest quarter)

MeasureCEGIndustry medianIndustry percentileSector median
Total debt $24.7B $9.6B
100th		 $12.5B
Debt / equity 0.77 2.02
33rd		 1.61
Net debt / equity 0.74 0.88
33rd		 1.60
Debt / assets 25.1% 43.5%
33rd		 43.4%
Debt / capital 43.6% 66.9%
33rd		 61.8%
Debt / EBITDA 3.00 4.67
40th		 5.59
Net debt / EBITDA 2.87 3.77
20th		 5.53
Interest coverage (EBIT / interest) 6.8x 2.7x
100th		 2.4x
Cash interest coverage 5.4x 2.9x
100th		 3.0x
Debt payback (years of OCF) 5.9 yrs 9.1 yrs
40th		 7.5 yrs
Liabilities / assets 67.1% 67.1%
50th		 70.8%
IS credit model rating BBB — —
Implied credit spread (bps) 275 400
17th		 750

Efficiency

MeasureCEGIndustry medianIndustry percentileSector median
Asset turnover 0.41 0.40
67th		 0.20
Fixed asset turnover 0.76 0.76
50th		 0.27
Inventory turnover 3.1 7.5
0th		 8.7
Receivables turnover 8.2 8.2
50th		 8.4
Days sales outstanding 44 days 44 days
50th		 43 days
Days inventory outstanding 116 days 49 days
100th		 42 days
Days payables outstanding 86 days 53 days
67th		 75 days
Cash conversion cycle (days) 75 days 18 days
100th		 14 days
Capex / revenue 12.5% 14.9%
40th		 35.1%
Capex / depreciation 1.34 1.34
60th		 2.40
Operating expense ratio 10.0% 15.9%
20th		 30.7%

Cash flow & earnings quality

MeasureCEGIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.21 — 2.20
FCF / net income 0.09 — −0.74
FCF / operating cash flow 7.3% 14.9%
40th		 -33.3%
Capex / operating cash flow 92.7% 85.1%
60th		 133.3%
Accruals ratio -1.0% -2.2%
100th		 -3.2%
Sloan accruals ratio 0.1% -5.3%
67th		 -3.7%
Earnings quality score (0-1) 1.00 — 1.00

Dividends & buybacks

MeasureCEGIndustry medianIndustry percentileSector median
Dividend yield 0.6% 0.6%
67th		 3.3%
Dividend per share (TTM) $1.67 $0.91
67th		 $1.87
Payout ratio (dividends / net income) 15.8% — 63.9%
Dividends / FCF 178.3% — 65.6%
Dividend growth (YoY) 4.9% — 3.9%
Buyback yield 2.0% 0.2%
83rd		 0.0%
Shareholder yield (dividends + buybacks) 2.6% 1.8%
67th		 3.3%
Share count change (YoY) 12.7% 8.2%
83rd		 2.5%
Buybacks, last 5 years $48.0M $48.0M
50th		 $0

Scores & forensic checks

MeasureCEGIndustry medianIndustry percentileSector median
IS score 42 35
100th		 40
IS profitability 32 32
50th		 44
IS growth 70 60
80th		 50
IS value 52 40
83rd		 56
IS momentum 93 70
100th		 78
IS risk (safety) 30 30
17th		 15
IS quality 60 51
100th		 64
IS balance sheet 52 45
67th		 28
IS earnings quality 82 71
83rd		 79
IS cash flow 33 30
67th		 35
Piotroski F-score (0-9) 3 5
0th		 6
Altman Z-score 1.5 1.6
33rd		 0.9
Beneish M-score −2.11 −2.37
60th		 −2.64
Ohlson O-score −7.85 −6.30
17th		 −7.04
IS credit score 58 47
83rd		 29

Per share

MeasureCEGIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $9.82 $2.31
100th		 $3.13
Book value per share $90.33 $22.90
100th		 $32.52
Tangible book per share $58.74 $18.08
83rd		 $32.45
Revenue per share $88.33 $47.11
83rd		 $24.86
FCF per share $0.87 $0.87
50th		 −$1.64
Operating cash flow per share $11.88 $7.33
67th		 $7.00
Cash per share $3.04 $3.04
50th		 $0.83

Size (TTM)

MeasureCEGIndustry medianIndustry percentileSector median
Market cap $96.1B $16.8B
100th		 $8.5B
Revenue $31.3B $3.5B
83rd		 $5.4B
EBITDA $8.2B $742.0M
100th		 $2.7B
Net income $3.5B $120.3M
100th		 $559.7M
Free cash flow $309.0M $309.0M
50th		 −$190.6M
Total assets $98.3B $15.1B
100th		 $34.0B
Shareholders' equity $32.0B $3.3B
100th		 $5.1B
Employees 15,315 1,880
83rd		 5,870

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Harrington Charles L.
Director
 Award / grant 188——5,542
2026-09-30Crandall Roger W
Director
 Award / grant 82——82
2026-08-11Crandall Roger W
Director
 Open-market buy 1,500$278.62$417,9311,693
2026-08-04Crandall Roger W
Director
 Award / grant 462$267.25$123,470462
2026-06-30Harrington Charles L.
Director
 Award / grant 146——5,345
2026-04-28Rimmer Nneka Louise
Director
 Award / grant 556$305.71$169,9754,475
2026-04-28Richardson John M
Director
 Award / grant 556$305.71$169,97516,399
2026-04-28Paterson Eileen P.
Director
 Award / grant 556$305.71$169,9751,555
2026-04-28Lawless Robert J
Director
 Award / grant 556$305.71$169,97551,340
2026-04-28Ashish Khandpur K
Director
 Award / grant 556$305.71$169,9756,257
2026-04-28Jamil Dhiaa M.
Director
 Award / grant 556$305.71$169,9751,705
2026-04-28Holzrichter Julie
Director
 Award / grant 556$305.71$169,9756,257

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprJunAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired146,438$1.8M
Open-market buyAcquired11,500$417,931
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 4 notices · 79,286 shares · $21.6M
FiledFilerShares proposedEst. proceeds
2026-10-15Andrew Novotny29,727$8.2M
2026-09-17Andrew Novotny9,909$2.6M
2026-09-17Andrew Novotny19,825$5.4M
2026-08-21Andrew Novotny19,825$5.4M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 6 trades (2 purchases) · Senate 9 (4 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-08-13John BoozmanSenateSale$1,001 - $15,0002026-09-11
2026-08-13John BoozmanSenateSale (Partial)$1,001 - $15,0002026-09-11
2026-08-13John BoozmanSenateSale (Partial)$1,001 - $15,0002026-09-10
2026-06-12John BoozmanSenatePurchase$1,001 - $15,0002026-07-13
2026-01-29Ro KhannaHouseSale$1,001 - $15,0002026-02-10
2025-10-31Lisa C. McClainHouseSale (Full)$1,001 - $15,0002025-11-24
2025-10-30Lisa C. McClainHouseSale (Full)$1,001 - $15,0002025-11-24
2025-10-30Lisa C. McClainHousePurchase$1,001 - $15,0002025-11-24
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.24,555,970$6.1B6.93%
VANGUARD CAPITAL MANAGEMENT LLC21,037,547$5.2B5.94%
STATE STREET CORP19,411,636$4.8B5.48%
VANGUARD PORTFOLIO MANAGEMENT LLC15,831,891$3.9B4.47%
ECP ControlCo, LLC14,370,227$3.6B4.06%
Capital International Investors12,657,149$3.1B3.57%
Invesco Ltd.11,109,902$2.8B3.14%
GEODE CAPITAL MANAGEMENT, LLC7,515,854$1.9B2.12%
FMR LLC6,538,601$1.6B1.85%
Capital Research Global Investors5,750,152$1.4B1.62%
JENNISON ASSOCIATES LLC5,539,966$1.4B1.56%
CANADA PENSION PLAN INVESTMENT BOARD5,012,169$1.2B1.41%
WELLS FARGO & COMPANY/MN4,507,436$1.1B1.27%
Capital World Investors4,438,215$1.1B1.25%
NORGES BANK4,261,792$1.1B1.20%

Institutional ownership by quarter

2023-092026-0681.9%
% of shares held by 13F filers
2023-092026-061,858
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,85881.9%191827587206
2026-03-311,89580.1%187833610260
2025-12-312,00271.8%347834573118
2025-09-301,81270.4%21477851487
2025-06-301,71172.4%324700470131
2025-03-311,53672.6%192644482170
2024-12-311,53971.7%271638401117
2024-09-301,41372.6%233539428105
2024-06-301,30471.9%21750035466
2024-03-311,17173.4%27334236688
2023-12-3199773.9%16733431456
2023-09-3090075.8%13528129062

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-07SCHEDULE 13G/AECP Calpine Rollover Fund, LP0.1%399,812
2026-05-14SCHEDULE 13G/ACapital International Investors3.3%11,940,831
2026-04-29SCHEDULE 13GVanguard Capital Management6.4%23,174,480
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.12%$2.7B
VSMPX0.12%$2.7B
VTSAX0.12%$2.7B
VTI0.12%$2.7B
VFIAX0.13%$2.2B
VFFSX0.13%$2.2B

Share structure

Shares outstanding354,307,393
Float338,587,461
Free float95.6%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$19.6B$24.4B$24.9B$23.6B$25.5B
Cost of revenue$16.9B$22.3B$21.6B$17.6B$6.2B
Gross profit$2.7B$2.1B$3.3B$6.0B$19.4B
R&D$0$0$0$0$0
SG&A$0$0$54.0M$8.0M$0
Operating income−$346.0M$495.0M$1.6B$4.4B$3.1B
EBITDA$3.8B$2.9B$4.2B$7.0B$5.0B
Pretax income$142.0M−$555.0M$2.4B$4.5B$3.5B
Income tax$225.0M−$388.0M$859.0M$774.0M$1.2B
Net income−$205.0M−$160.0M$1.6B$3.7B$2.3B
EPS, diluted$-0.63$-0.47$5.01$11.90$7.40
Diluted shares326.7M328.0M324.0M315.0M314.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$504.0M$422.0M$368.0M$3.0B$3.7B
Receivables$2.4B$3.3B$2.9B$3.7B$4.3B
Inventory$1.3B$1.5B$1.5B$1.6B$1.7B
Total current assets$8.0B$9.4B$8.3B$10.8B$12.1B
PP&E, net$19.6B$19.8B$22.1B$21.2B$22.5B
Goodwill & intangibles$0$47.0M$425.0M$420.0M$420.0M
Total assets$48.1B$46.9B$50.8B$52.9B$57.2B
Accounts payable$1.8B$2.8B$0$0$0
Total current liabilities$8.0B$7.8B$6.3B$6.8B$7.9B
Long-term debt$4.9B$4.5B$7.5B$7.4B$7.2B
Total liabilities$36.5B$35.5B$39.5B$39.4B$42.4B
Shareholders' equity$11.6B$11.4B$11.3B$13.5B$14.9B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income−$205.0M−$167.0M$1.6B$3.7B$2.3B
Depreciation & amortization$4.0B$2.4B$2.5B$2.7B$2.6B
Stock-based compensation$47.0M$116.0M$0$0$0
Change in working capital−$4.9B−$5.2B−$9.9B−$7.3B−$953.0M
Operating cash flow−$1.3B−$2.4B−$5.3B−$2.5B$4.2B
Capital expenditure−$1.3B−$1.7B−$2.4B−$2.6B−$2.9B
Free cash flow−$2.7B−$4.0B−$7.7B−$5.0B$1.3B
Investing cash flow$3.3B$3.1B$3.0B$7.4B−$3.2B
Net debt issued / repaid$1.3B−$2.3B$3.5B−$845.0M$574.0M
Buybacks−$64.0M−$1.8B−$992.0M−$999.0M−$400.0M
Dividends paid−$1.8B−$185.0M−$366.0M−$444.0M−$486.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2022FY2023FY2024FY2025
Gross margin9.0%13.2%25.4%75.8%
Operating margin2.0%6.5%18.5%12.1%
Net margin-0.7%6.5%15.9%9.1%
FCF margin-16.5%-31.0%-21.3%5.0%
ROE-1.4%14.8%31.1%16.8%
ROIC2.4%5.3%19.4%10.3%
ROA-0.3%3.3%7.2%4.2%
Debt / equity0.520.850.640.62
Interest coverage2.6x4.0x8.4x8.1x
Current ratio1.191.311.571.53
Revenue growth—+2.0%−5.4%+8.3%
EPS growth—+1,150.1%+135.3%−38.1%
P/E at year endn/m22.7x18.6x47.8x
EV / EBITDA at year end10.7x10.9x10.8x20.1x
FCF yield at year end-14.61%-20.91%-7.20%1.16%
Dividend payout—22.5%11.8%21.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Constellation Other Regions$4.9B$6.7B$5.9B$5.5B$5.6B
Constellation Mid Atlantic$4.6B$5.3B$5.5B$5.5B$6.5B
Constellation Midwest$4.3B$5.2B$4.8B$4.8B$5.8B
Constellation Natural Gas$3.4B$5.0B———
Constellation New York$1.6B$2.0B$2.0B$2.0B$2.4B
Constellation ERCOT$1.2B$1.6B$1.3B$1.6B$1.9B
Constellation All Other Segments$1.3B$591.0M———

Revenue by region · FY2025

Constellation Mid Atlantic$6.5B · 29%
Constellation Midwest$5.8B · 26%
Constellation Other Regions$5.6B · 25%
Constellation New York$2.4B · 11%
Constellation ERCOT$1.9B · 9%

Street estimates by fiscal year

Next report 2026-11-09 · consensus EPS $3.72 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$33.6B$27.9B – $40.5B$12.06$11.64 – $12.361022.5x
2027$34.4B$22.3B – $44.9B$13.31$12.56 – $14.371120.4x
2028$36.3B$31.8B – $41.0B$16.82$14.46 – $19.37916.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-06$2.29$2.55+11.4%$7.7B$7.5B−2.9%
2026-05-11$2.54$2.74+7.9%$8.5B$11.1B+31.5%
2026-02-24$2.28$2.30+0.9%$5.6B$6.1B+8.4%
2025-11-07$3.11$3.04−2.3%$6.2B$6.6B+5.9%
2025-08-07$1.84$1.91+3.8%$4.9B$6.1B+24.4%
2025-05-06$2.18$2.14−1.8%$5.6B$6.8B+22.1%
2025-02-18$2.16$2.44+13.0%$6.6B$5.4B−18.0%
2024-11-04$2.66$2.74+3.0%$5.7B$6.5B+14.6%
2024-08-06$1.71$1.68−1.8%$5.6B$5.5B−1.4%
2024-05-09$1.30$1.82+40.0%$6.6B$6.2B−6.9%
2024-02-27$1.80$-0.11−106.1%$7.7B$5.8B−25.1%
2023-11-06$1.42$2.26+59.2%$6.7B$6.1B−8.8%
2023-08-03$0.73$2.56+250.7%$6.7B$5.4B−18.6%
2023-05-04$0.88$0.29−67.0%$4.5B$7.6B+66.8%
2023-02-16$1.24$0.10−91.9%$5.9B$7.3B+24.7%
2022-11-08$0.76$-0.57−175.0%$3.9B$6.1B+54.4%
2022-08-04$0.64$-0.34−153.1%$3.6B$5.5B+50.0%
2022-05-12$0.70$0.32−54.3%$4.9B$5.6B+14.3%
2022-02-25$1.19$0.13−89.1%$2.3B$5.5B+144.3%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
1.006-150.906-221.206-290.807-060.907-130.907-200.907-271.008-030.808-100.708-170.508-240.808-31
Week ofNotionalSharesTrades
2026-08-31$803.5M2,815,09897,799
2026-08-24$521.9M1,875,63179,911
2026-08-17$723.5M2,649,70899,291
2026-08-10$786.5M2,817,69898,990
2026-08-03$996.5M3,726,246129,948
2026-07-27$918.3M3,472,936104,881

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1541.9%
DateShort shareShort volumeTotal volume
2026-10-1541.9%645,7611,542,711
2026-10-1455.2%735,2051,332,195
2026-10-1358.6%559,608954,866
2026-10-1253.5%586,1181,094,613
2026-10-0959.6%967,3831,623,460
2026-10-0852.4%1,493,4942,852,309
2026-10-0744.0%1,670,2673,798,799
2026-10-0651.4%3,067,5025,966,513
2026-10-0559.0%699,2861,184,848
2026-10-0265.9%975,1671,479,433
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+4.9Jan+3.2Feb+2.3Mar+2.8Apr+15.4May-2.0Jun+6.4Jul+8.8Aug+14.0Sep+5.9Oct+0.6Nov-5.8Dec
MonthAvg returnUp yearsYears
Jan+4.9%80%5
Feb+3.2%40%5
Mar+2.3%60%5
Apr+2.8%75%4
May+15.4%100%4
Jun−2.0%50%4
Jul+6.4%75%4
Aug+8.8%75%4
Sep+14.0%100%4
Oct+5.9%75%4
Nov+0.6%50%4
Dec−5.8%0%4
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1447.1
MFI46.1
ADX19.3
Stochastic %K / %D44.9 / 56.9
Williams %R-61.4
CCI-6
TSI / signal6.7 / 4.4
Chaikin money flow0.09
ATR$13.50
Bollinger width22.6%
Volume vs 20-day avg0.97x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$273.81 (−0.9%)
SMA 50$275.63 (−1.5%)
SMA 200$284.14 (−4.5%)
EMA 21$277.73 (−2.3%)
EMA 50$274.67 (−1.2%)
EMA 200$283.48 (−4.3%)
Bollinger upper$304.78 (−11.0%)
Bollinger lower$242.83 (+11.8%)
Parabolic SAR$308.96 (−12.2%)
Open the live chart, 110+ indicators

About Constellation Energy Corporation

Constellation Energy Corporation operates as a U.S.-based firm dedicated to producing and distributing electricity. Its activities are organized across five primary geographical segments: the Mid-Atlantic, Midwest, New York, ERCOT, and various other power markets. In addition to electrical power, the company supplies natural gas, sustainable energy solutions, and an array of associated energy products and services. Possessing a significant generation capability of 32,400 megawatts, its power portfolio incorporates diverse sources such as nuclear, wind, solar, natural gas, and hydroelectric facilities. The company serves a wide spectrum of clients, including utility distributors, local government bodies, cooperatives, along with commercial, industrial, public sector, and household consumers. Founded in 2021, its corporate headquarters are situated in Baltimore, Maryland. Constellation Energy Corporation previously operated as a subsidiary of Exelon Corporation.

https://constellationenergy.com

Key executives

NameTitlePayBorn
Joseph DominguezPresident, CEO & Chairman$4.5M1964
Michael R. KoehlerExecutive Vice President & Chief Administration Officer$2.1M1967
Shane SmithExecutive Vice President & Chief Financial Officer$2.0M1980
Bryan Craig HansonSenior Executive VP & Chief Generation Officer$2.0M1966
Daniel L. EggersSenior Executive Vice President of Finance & Data Economy$1.7M1976
James McHughSenior Executive VP & Chief Commercial Officer$1.6M1972
Christopher H. MudrickChief Nuclear Officer——
Matthew PriceExecutive VP, Chief Legal Officer & General Counsel——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Joseph Dominguez President and Chief Executive Officer2024$1.4M$10.5M$3.5M$16.2M
Bryan C. Hanson Executive Vice President and Chief Generation Officer2024$874,296$2.9M$1.4M$7.4M
Daniel Eggers Executive Vice President and Chief Financial Officer2024$730,294$2.8M$1.2M$5.0M
James McHugh Executive Vice President and Chief Commercial Officer2024$727,584$2.0M$1.0M$4.1M
Kathleen Barrón Executive Vice President and Chief Strategy and Growth Officer2024$712,705$2.0M$1.0M$4.1M

Employees

12k202113k202214k202314k202415k2025

Dividends

Ex-dateAmountPaid
2026-08-18$0.42652026-09-04
2026-05-15$0.42652026-06-05
2026-03-09$0.42652026-03-20
2025-11-17$0.38782025-12-05
2025-08-18$0.38782025-09-05
2025-05-16$0.38782025-06-06
2025-03-07$0.38782025-03-18
2024-11-15$0.35252024-12-06

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage57
Intangibles57
Switching costs56
Network effect55
Efficient scale85
Our component scores (0-100) and overall 60.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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