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 revenue.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 3 years

Total assets $57.2B

Total liabilities $42.4B

Shareholders equity $14.5B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	14.3%	12.8%	1.5%
Accounts Receivable	16.7%	13.2%	7.8%
Prepaid Expenses	2.5%	2.9%	6.6%
Other Current Assets	2.5%	2.9%	6.6%
Total Current Assets	47.5%	45.7%	33.3%
Property,Plant and Equipment	88.0%	90.1%	88.8%
Goodwill	1.6%	1.8%	1.7%
Intangible Assets	0.0%	1.0%	1.3%
Other Noncurrent Assets	9.6%	9.2%	7.7%
Total Assets	224.2%	224.6%	203.7%
Liabilities
Accounts Payable	11.0%	10.1%	5.2%
Accrued Liabilities	1.4%	1.4%	1.4%
Current Portion of Long Term Debt	0.4%	4.4%	0.5%
Other Current Liabilities	1.4%	1.4%	1.4%
Total Current Liabilities	31.1%	29.0%	25.4%
Long Term Debt	28.4%	31.3%	30.1%
Deferred Tax Liabilities	0.0%	12.8%	11.3%
Other Noncurrent Liabilities	10.7%	5.2%	4.5%
Total Liabilities	166.0%	167.1%	158.4%
Equity
Common Stock	43.2%	48.4%	49.6%
Retained Earnings	23.1%	17.3%	3.1%
Accumulated Other Comprehensive Income	-9.5%	-9.8%	-8.8%
Noncontrolling Interest	1.3%	1.6%	1.4%
Total Stockholders Equity	56.9%	55.9%	43.8%
Total Liabilitiesand Equity	224.2%	224.6%	203.7%

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $25.5B

Operating income $3.1B

Net income $2.3B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	87.9%	81.8%	93.6%
Expenses Depreciation and Amortization	3.8%	4.7%	4.3%
Expenses Share Based Compensation	1.5%	1.4%	0.7%
Expenses Operating Expenses	87.9%	81.8%	93.6%
Other Income Expense Operating Income	12.1%	18.5%	6.5%
Other Income Expense Interest Expense	2.0%	2.1%	1.7%
Other Income Expense Other Income/expense	3.7%	2.8%	5.1%
Other Income Expense Income Before Tax	13.8%	19.2%	9.8%
Income Tax Income Tax Expense	4.6%	3.3%	3.4%
net Income net Income	9.1%	15.9%	6.5%
net Income Comprehensive Income	8.6%	15.4%	4.8%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.2%	1.3%	1.3%
Earnings Per Share Weighted Average Shares Diluted	1.2%	1.3%	1.3%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $4.2B

Investing cash flow $-3.2B

Financing cash flow $-420.0M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	9.1%	15.9%	6.5%
Operating Activities Depreciation and Amortization	3.8%	4.7%	4.3%
Operating Activities Stock Based Compensation	1.5%	1.4%	0.7%
Operating Activities Deferred Income Taxes	0.0%	0.2%	0.0%
Operating Activities Changes In Operating Assets and Liabilities	0.5%	0.4%	-0.2%
Operating Activities net Cash From Operating Activities	16.6%	-10.5%	-21.3%
Investing Activities Capital Expenditures	11.5%	10.9%	9.7%
Investing Activities Business Acquisitions	0.1%	0.1%	6.8%
Investing Activities Purchases of Investments	28.5%	26.7%	24.3%
Investing Activities Other Investing Activities	-0.4%	-0.4%	-0.1%
Investing Activities net Cash From Investing Activities	-12.5%	31.5%	12.2%
Financing Activities Proceeds From Debt	0.0%	3.9%	12.8%
Financing Activities Repayment of Debt	4.2%	0.5%	0.7%
Financing Activities Repurchase of Common Stock	1.6%	4.2%	4.0%
Financing Activities Dividends Paid	1.9%	1.9%	1.5%
Financing Activities Other Financing Activities	-0.4%	-0.0%	0.2%
Financing Activities net Cash From Financing Activities	-1.6%	-9.7%	8.8%
Cash Reconciliation Effect of Exchange Rate On Cash	14.7%	13.3%	1.8%
Cash Reconciliation net Change In Cash	2.4%	11.4%	-0.3%
Cash Reconciliation Cash At Beginning of Period	14.7%	13.3%	1.8%
Cash Reconciliation Cash At End of Period	14.7%	13.3%	1.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

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

Valuation

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FY2025 fundamentals · no price

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Constellation Energy

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