Constellation Energy

Utilities Electric Utilities Baltimore, Maryland Last filing Feb 24, 2026 · FY2025

                    Revenue
                    FY2025
                
$25.5B
                    3y CAGR +1.5%
                    
                    P42
                    
                    +8.3%
                    
                    Net income
                    FY2025
                
$2.3B
                    Net margin +9.1%
                    
                    P16
                    
                    -38.1%
                    
                    Total assets
                    FY2025
                
$57.2B
                    ROA +4.1%
                    
                    P94
                    
                    +8.2%
                    
                    Operating cash flow
                    FY2025
                
$4.2B
                    FCF margin +5.0%
                    
                    P96
                    
                    +272.0%

6 yrs · FY2020–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 5 years

Total assets $57.2B

Total liabilities $42.4B

Shareholders equity $14.5B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	6.4%	5.7%	0.7%	0.9%	—
Accounts Receivable	7.5%	5.9%	3.8%	5.5%	—
Prepaid Expenses	1.1%	1.3%	3.3%	2.2%	—
Other Current Assets	1.1%	1.3%	3.3%	2.2%	—
Total Current Assets	21.2%	20.4%	16.4%	20.0%	—
Property,Plant and Equipment	39.3%	40.1%	43.6%	42.3%	—
Goodwill	0.7%	0.8%	0.8%	0.1%	—
Intangible Assets	0.0%	0.4%	0.7%	0.7%	—
Other Noncurrent Assets	4.3%	4.1%	3.8%	4.5%	—
Total Assets	100.0%	100.0%	100.0%	100.0%	—
Liabilities
Accounts Payable	4.9%	4.5%	2.6%	6.0%	—
Accrued Liabilities	0.6%	0.6%	0.7%	1.9%	—
Current Portion of Long Term Debt	0.2%	1.9%	0.2%	0.3%	—
Other Current Liabilities	0.6%	0.6%	0.7%	0.7%	—
Total Current Liabilities	13.9%	12.9%	12.4%	16.7%	—
Long Term Debt	12.7%	14.0%	14.8%	9.5%	—
Deferred Tax Liabilities	0.0%	5.7%	5.6%	5.6%	—
Other Noncurrent Liabilities	4.8%	2.3%	2.2%	2.5%	—
Total Liabilities	74.1%	74.4%	77.8%	75.8%	—
Equity
Common Stock	19.3%	21.5%	24.3%	28.3%	—
Retained Earnings	10.3%	7.7%	1.5%	-1.1%	—
Accumulated Other Comprehensive Income	-4.2%	-4.3%	-4.3%	-3.8%	—
Noncontrolling Interest	0.6%	0.7%	0.7%	0.8%	—
Total Stockholders Equity	25.4%	24.9%	21.5%	23.5%	—
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $25.5B

Operating income $3.1B

Net income $2.3B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	44.6%	44.5%	49.1%	52.1%	—
Expenses Cost of Revenue	39.2%	36.4%	46.0%	51.0%	—
Expenses Depreciation and Amortization	1.7%	2.1%	2.1%	2.3%	—
Expenses Share Based Compensation	0.7%	0.6%	0.4%	0.2%	—
Expenses Operating Expenses	39.2%	36.4%	46.0%	51.0%	—
Other Income Expense Operating Income	5.4%	8.2%	3.2%	1.1%	—
Other Income Expense Interest Expense	0.9%	1.0%	0.8%	0.5%	—
Other Income Expense Other Income/expense	1.6%	1.3%	2.5%	-1.7%	—
Other Income Expense Income Before Tax	6.1%	8.5%	4.8%	-1.2%	—
Income Tax Income Tax Expense	2.1%	1.5%	1.7%	-0.8%	—
net Income net Income	4.1%	7.1%	3.2%	-0.3%	—
net Income Comprehensive Income	3.8%	6.9%	2.3%	0.2%	—
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	-0.0%	—
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	-0.0%	—
Earnings Per Share Weighted Average Shares Basic	0.5%	0.6%	0.6%	0.7%	—
Earnings Per Share Weighted Average Shares Diluted	0.5%	0.6%	0.6%	0.7%	—

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 5 years

Operating cash flow $4.2B

Investing cash flow $-3.2B

Financing cash flow $-420.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	4.1%	7.1%	3.2%	-0.3%	—
Operating Activities Depreciation and Amortization	1.7%	2.1%	2.1%	2.3%	—
Operating Activities Stock Based Compensation	0.7%	0.6%	0.4%	0.2%	—
Operating Activities Deferred Income Taxes	0.0%	0.1%	0.0%	—	—
Operating Activities Changes In Operating Assets and Liabilities	0.2%	0.2%	-0.1%	0.5%	—
Operating Activities net Cash From Operating Activities	7.4%	-4.7%	-10.4%	-5.0%	—
Investing Activities Capital Expenditures	5.2%	4.8%	4.8%	3.6%	—
Investing Activities Business Acquisitions	0.0%	0.1%	3.3%	0.1%	—
Investing Activities Purchases of Investments	12.7%	11.9%	11.9%	9.1%	—
Investing Activities Other Investing Activities	-0.2%	-0.2%	-0.1%	-0.2%	—
Investing Activities net Cash From Investing Activities	-5.6%	14.0%	6.0%	6.6%	—
Financing Activities Proceeds From Debt	0.0%	1.7%	6.3%	0.0%	—
Financing Activities Repayment of Debt	1.9%	0.2%	0.3%	2.5%	—
Financing Activities Repurchase of Common Stock	0.7%	1.9%	2.0%	0.0%	—
Financing Activities Dividends Paid	0.8%	0.8%	0.7%	0.4%	—
Financing Activities Other Financing Activities	-0.2%	-0.0%	0.1%	-0.1%	—
Financing Activities net Cash From Financing Activities	-0.7%	-4.3%	4.3%	-1.7%	—
Cash Reconciliation Effect of Exchange Rate On Cash	6.5%	5.9%	0.9%	1.1%	—
Cash Reconciliation net Change In Cash	1.1%	5.1%	-0.1%	-0.1%	—
Cash Reconciliation Cash At Beginning of Period	6.5%	5.9%	0.9%	1.1%	—
Cash Reconciliation Cash At End of Period	6.5%	5.9%	0.9%	1.1%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+12.1%	+18.2%	+6.4%	+2.0%	-2.8%
Operating margin	+12.1%	+18.5%	+6.5%	+2.0%	-1.8%
Net margin	+9.1%	+15.9%	+6.5%	-0.7%	-1.0%
FCF margin	+5.0%	-21.3%	-31.0%	-16.5%	-13.6%
Growth
Revenue CAGR (3y)	+1.5%	+6.2%	+12.3%	—	—
Returns
ROE	+16.0%	+28.5%	+14.9%	-1.5%	-1.8%
ROA	+4.1%	+7.1%	+3.2%	-0.3%	—
ROIC	+11.2%	+19.4%	+5.7%	+3.3%	+0.0%
Liquidity
Current ratio	1.53x	1.57x	1.31x	1.19x	—
Quick ratio	1.00x	0.90x	0.36x	0.38x	—
Leverage
D/E	2.92x	2.99x	3.61x	3.23x	—
Interest coverage	6.04x	8.60x	3.74x	1.98x	-1.23x
Efficiency
Asset turnover	0.45x	0.45x	0.49x	0.52x	—
Cash conversion cycle	+43d	—	—	—	—

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Constellation Energy

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