Constellation Energy Corporation (CEG) 10-Year Financial Performance & Capital Metrics

CEG • • Utilities

UtilitiesRenewable EnergyRenewable Power GenerationDiversified Renewable Portfolio Operators

AboutConstellation Energy Corporation generates and sells electricity in the United States. The company operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. It sells natural gas, renewable energy, and other energy-related products and services. The company has 32,400 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland. Constellation Energy Corporation was formerly a subsidiary of Exelon Corporation.Show more

Revenue $23.57B -5.4%
EBITDA $7.05B +71.0%
Net Income $3.75B +131.0%
Free Cash Flow $4.96B +164.3%
EBITDA Margin 29.92% +80.8%
Net Margin 15.91% +144.2%
ROE 30.2% +110.8%
Interest Coverage 8.60 +130.2%
Debt/Equity 0.62 -24.3%
Net Debt/EBITDA 0.76 -64.6%
CapEx / Revenue 31.52% +224.3%
CapEx Coverage -0.33 +84.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 27.2%
✓Strong interest coverage of 8.6x
✓Share count reduced 2.8% through buybacks

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.08%

5Y4.49%

3Y6.25%

TTM6.14%

Profit (Net Income) CAGR

10Y16.2%

5Y27.22%

3Y-

TTM-4.26%

EPS CAGR

10Y16.61%

5Y28.17%

3Y-

TTM-3.75%

ROCE

10Y Avg2.97%

5Y Avg2.9%

3Y Avg4.91%

Latest9.62%

Peer Comparison

Diversified Renewable Portfolio Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GEVGE Vernova Inc.	174.25B	642.23	115.10	5.1%	4.52%	17.51%	0.98%	0.10
CEGConstellation Energy Corporation	123.61B	341.20	28.67	-5.42%	10.76%	18.64%	4.02%	0.62
BEPCBrookfield Renewable Corporation	5.62B	38.79	23.80	4.41%	-23.22%	-8.32%		1.16
AXIAAXIA Energia	18.95B	9.59	11.42	0.19%	-1.84%	-0.44%	3.65%	0.64
BEPBrookfield Renewable Partners L.P.	8.57B	28.00	-31.46	16.63%	-3.38%	-0.65%		0.98
ELLOEllomay Capital Ltd.	375.36M	27.24	-53.41	-17.13%	2.56%	0.57%		4.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	19.14B	17.76B	18.5B	20.44B	18.92B	17.6B	19.65B	24.44B	24.92B	23.57B
Revenue Growth %	0.1%	-0.07%	0.04%	0.1%	-0.07%	-0.07%	0.12%	0.24%	0.02%	-0.05%
Cost of Revenue	15.32B	14.37B	15.39B	17.13B	15.63B	14.33B	16.9B	22.3B	21.61B	17.58B
Gross Profit+	3.82B	3.38B	3.1B	3.31B	3.3B	3.27B	2.75B	2.14B	3.3B	5.99B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.49%	-0.11%	-0.08%	0.07%	-0%	-0.01%	-0.16%	-0.22%	0.55%	0.81%
Operating Expenses+	1.54B	2.56B	2.16B	2.34B	1.97B	3.02B	3.09B	1.64B	1.69B	1.64B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	4.86B	3.57B	3.74B	3.79B	4.16B	2.94B	2.24B	2.92B	4.12B	7.05B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.32%	-0.27%	0.05%	0.01%	0.1%	-0.29%	-0.24%	0.3%	0.41%	0.71%
Depreciation & Amortization+	2.59B	2.75B	2.79B	2.82B	2.84B	2.68B	2.59B	2.43B	2.51B	2.7B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	2.27B	820M	947M	975M	1.32B	256M	-346M	495M	1.61B	4.35B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.93%	-0.64%	0.15%	0.03%	0.36%	-0.81%	-2.35%	2.43%	2.25%	1.7%
Interest Expense+	364M	364M	440M	432M	429M	357M	297M	251M	431M	506M
Interest Coverage	6.25x	2.25x	2.15x	2.26x	3.08x	0.72x	-1.16x	1.97x	3.74x	8.60x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	1000K	1000K
Pretax Income+	1.82B	912M	1.42B	335M	1.73B	828M	142M	-555M	2.44B	4.51B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	480M	362M	-1.38B	-108M	516M	249M	225M	-388M	859M	774M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.37B	483M	2.71B	370M	1.13B	589M	-205M	-160M	1.62B	3.75B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.64%	-0.65%	4.61%	-0.86%	2.04%	-0.48%	-1.35%	0.22%	11.14%	1.31%
EPS (Diluted)+	4.20	1.48	8.31	1.13	3.44	1.80	-0.63	-0.47	5.01	11.90
EPS Growth %	0.64%	-0.65%	4.61%	-0.86%	2.04%	-0.48%	-1.35%	0.25%	11.66%	1.38%
EPS (Basic)	4.20	1.48	8.31	1.13	3.44	1.80	-0.63	-0.47	5.02	11.90
Diluted Shares Outstanding	326.3M	326.3M	326.3M	326.3M	326.66M	326.66M	326.66M	328M	324M	315M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	46.53B	46.97B	48.46B	47.56B	48.99B	48.09B	48.09B	46.91B	50.76B	52.93B
Asset Growth %	0.04%	0.01%	0.03%	-0.02%	0.03%	-0.02%	-0%	-0.02%	0.08%	0.04%
PP&E (Net)+	22.32B	22.23B	21.64B	20.99B	24.19B	22.21B	19.61B	19.82B	22.12B	21.23B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	6.34B	6.53B	6.88B	8.43B	7.08B	6.95B	7.98B	9.36B	8.3B	10.78B
Cash & Equivalents	431M	290M	416M	750M	303M	226M	504M	422M	368M	3.02B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	1.26B	1.23B	1.2B	1.21B	1.26B	1.21B	1.29B	1.5B	1.5B	1.6B
Other Current Assets	2.47B	2.42B	2.43B	3.35B	1.76B	3.67B	3.77B	4.12B	3.58B	2.44B
Long-Term Investments	210M	418M	433M	414M	235M	184M	174M	202M	563M	640M
Goodwill	47M	47M	47M	47M	47M	47M	0	47M	425M	420M
Intangible Assets	484M	447M	395M	371M	0	0	0	0	0	0
Other Assets	17.13B	17.31B	19.05B	17.3B	17.43B	18.7B	20.29B	17.43B	19.3B	19.86B
Total Liabilities	33.56B	33.72B	32.5B	32.05B	33.16B	33.42B	36.47B	35.54B	39.47B	39.39B
Total Debt+	10.24B	9.99B	9.05B	8.89B	8.29B	7.21B	8.2B	5.77B	9.26B	8.41B
Net Debt	9.81B	9.71B	8.63B	8.14B	7.99B	6.99B	7.69B	5.35B	8.89B	5.39B
Long-Term Debt	8.87B	8.12B	8.64B	7.89B	4.79B	5.89B	4.89B	4.47B	7.5B	7.38B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	1.08B	907M	777M	710M	650M	0
Total Current Liabilities+	4.93B	5.68B	4.19B	5.77B	7.29B	5.22B	8B	7.84B	6.32B	6.85B
Accounts Payable	1.58B	1.61B	1.8B	1.85B	1.69B	1.25B	1.76B	2.83B	0	0
Accrued Expenses	774M	781M	603M	672M	786M	788M	737M	906M	0	0
Deferred Revenue	0	0	0	0	17M	7M	0	0	0	0
Other Current Liabilities	1.21B	1.42B	1.39B	2.24B	1.18B	1.74B	2.07B	2.8B	4.55B	5.82B
Deferred Taxes	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	19.76B	19.91B	19.66B	18.39B	17.32B	18.65B	19.88B	20.2B	22.45B	21.83B
Total Equity+	12.97B	13.26B	15.96B	15.51B	15.83B	14.68B	11.61B	11.37B	11.29B	13.54B
Equity Growth %	-0.08%	0.02%	0.2%	-0.03%	0.02%	-0.07%	-0.21%	-0.02%	-0.01%	0.2%
Shareholders Equity	11.63B	11.48B	13.67B	13.2B	13.48B	12.4B	11.22B	11.02B	10.93B	13.17B
Minority Interest	1.33B	1.77B	2.29B	2.3B	2.35B	2.28B	395M	354M	361M	373M
Common Stock	9B	9.26B	9.36B	9.52B	9.57B	9.62B	10.48B	13.27B	12.36B	11.4B
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	2.7B	2.27B	4.35B	3.72B	3.95B	2.81B	768M	-496M	761M	4.07B
Accumulated OCI	-63M	-54M	-37M	-38M	-32M	-30M	-31M	-1.76B	-2.19B	-2.3B
Return on Assets (ROA)	0.03%	0.01%	0.06%	0.01%	0.02%	0.01%	-0%	-0%	0.03%	0.07%
Return on Equity (ROE)	0.1%	0.04%	0.19%	0.02%	0.07%	0.04%	-0.02%	-0.01%	0.14%	0.3%
Debt / Equity	0.79x	0.75x	0.57x	0.57x	0.52x	0.49x	0.71x	0.51x	0.82x	0.62x
Debt / Assets	0.22%	0.21%	0.19%	0.19%	0.17%	0.15%	0.17%	0.12%	0.18%	0.16%
Net Debt / EBITDA	2.02x	2.72x	2.31x	2.15x	1.92x	2.38x	3.43x	1.83x	2.16x	0.76x
Book Value per Share	39.75	40.63	48.91	47.53	48.46	44.93	35.55	34.67	34.83	42.98

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.2B	4.44B	3.3B	3.86B	2.87B	584M	-1.34B	-2.35B	-5.3B	-2.46B
Operating CF Growth %	1.3%	0.06%	-0.26%	0.17%	-0.26%	-0.8%	-3.29%	-0.76%	-1.25%	0.54%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	1.37B	483M	2.22B	370M	1.13B	589M	-205M	-167M	1.62B	3.74B
Depreciation & Amortization	2.59B	2.75B	2.79B	3.42B	3.06B	3.64B	4B	2.43B	2.51B	2.7B
Deferred Taxes	-274M	78M	261M	-451M	361M	78M	-205M	-643M	251M	222M
Other Non-Cash Items	195M	728M	-1.31B	788M	-1.01B	-299M	-33M	1.16B	185M	-1.79B
Working Capital Changes	238M	311M	-757M	-338M	-698M	-3.45B	-4.94B	-5.25B	-9.87B	-7.33B
Capital Expenditures+	-3.84B	-3.08B	-2.26B	-2.24B	-1.84B	-1.75B	3.28B	3.1B	-2.42B	7.43B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-4.07B	-3.82B	-2.66B	-2.53B	-1.87B	1.96B	3.28B	3.1B	3.03B	7.43B
Acquisitions	-40M	-293M	-208M	-154M	-41M	1.75B	1.33B	52M	0	0
Purchase of Investments	0	0	0	-9B	-10.09B	-3.46B	-6.67B	-4.27B	-6.05B	-6.28B
Sale of Investments	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-188M	-445M	-195M	100M	55M	2.08B	3.42B	4.96B	5.68B	10.27B
Cash from Financing+	-479M	-734M	-531M	-981M	-1.46B	-2.66B	-1.7B	-799M	2.2B	-2.29B
Dividends Paid	-2.47B	-922M	-659M	-1B	-899M	-1.73B	-1.83B	-185M	-366M	-444M
Dividend Payout Ratio %	1.8%	1.91%	0.24%	2.71%	0.8%	2.94%	-	-	0.23%	0.12%
Debt Issuance (Net)	1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	1000K	-1000K
Stock Issued	0	0	0	155M	41M	64M	64M	1.75B	0	0
Share Repurchases	0	0	0	0	0	-64M	-64M	-1.75B	-992M	-999M
Other Financing	1.32B	2M	-256M	-9M	-151M	279M	-1.15B	1.72B	42M	-1M
Net Change in Cash+	-349M	17M	106M	349M	-454M	-122M	249M	-48M	-74M	2.67B
Exchange Rate Effect	0	1000K	0	0	0	0	0	0	0	0
Cash at Beginning	780M	431M	448M	554M	903M	449M	327M	576M	528M	454M
Cash at End	431M	448M	554M	903M	449M	327M	576M	528M	454M	3.13B
Free Cash Flow+	358M	1.36B	1.04B	1.62B	1.03B	-1.16B	1.94B	751M	-7.72B	4.96B
FCF Growth %	1.3%	2.81%	-0.24%	0.56%	-0.37%	-2.13%	2.67%	-0.61%	-11.28%	1.64%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.16%	3.68%	18.55%	2.35%	7.18%	3.86%	-1.56%	-1.39%	14.33%	30.2%
EBITDA Margin	25.42%	20.09%	20.22%	18.56%	21.98%	16.68%	11.41%	11.96%	16.55%	29.92%
Net Debt / EBITDA	2.02x	2.72x	2.31x	2.15x	1.92x	2.38x	3.43x	1.83x	2.16x	0.76x
Interest Coverage	6.25x	2.25x	2.15x	2.26x	3.08x	0.72x	-1.16x	1.97x	3.74x	8.60x
CapEx / Revenue	20.07%	17.33%	12.21%	10.97%	9.75%	9.92%	16.7%	12.7%	9.72%	31.52%
Dividend Payout Ratio	180.32%	190.89%	24.32%	270.54%	79.91%	294.4%	-	-	22.55%	11.84%
Debt / Equity	0.79x	0.75x	0.57x	0.57x	0.52x	0.49x	0.71x	0.51x	0.82x	0.62x
EPS Growth	64.06%	-64.76%	461.49%	-86.4%	204.42%	-47.67%	-134.87%	25.11%	1165.96%	137.53%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Constellation Mid Atlantic	-	-	4.58B	5.26B	5.45B	5.52B
Constellation Mid Atlantic Growth	-	-	-	14.83%	3.59%	1.27%
Constellation Other Regions	-	-	4.92B	6.73B	5.86B	5.51B
Constellation Other Regions Growth	-	-	-	36.88%	-12.89%	-6.11%
Constellation Midwest	-	-	4.26B	5.16B	4.85B	4.8B
Constellation Midwest Growth	-	-	-	21.08%	-6.16%	-0.85%
Constellation New York	-	-	1.63B	2B	2.02B	2.05B
Constellation New York Growth	-	-	-	22.72%	0.85%	1.43%
Constellation ERCOT	-	-	1.18B	1.56B	1.35B	1.55B
Constellation ERCOT Growth	-	-	-	31.75%	-13.50%	15.16%
Constellation Natural Gas	-	-	3.38B	4.97B	-	-
Constellation Natural Gas Growth	-	-	-	47.00%	-	-
Constellation All Others	-	-	1.28B	591M	-	-
Constellation All Others Growth	-	-	-	-53.76%	-	-
Public Utilities	16.84B	16.63B	-	-	-	-
Public Utilities Growth	-	-1.22%	-	-	-	-
Energy Commodities and Service	17.75B	16.4B	-	-	-	-
Energy Commodities and Service Growth	-	-7.63%	-	-	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024
Constellation Mid Atlantic	-	-	4.58B	5.26B	5.45B	5.52B
Constellation Mid Atlantic Growth	-	-	-	14.83%	3.59%	1.27%
Constellation Other Regions	-	-	4.92B	6.73B	5.86B	5.51B
Constellation Other Regions Growth	-	-	-	36.88%	-12.89%	-6.11%
Constellation Midwest	-	-	4.26B	5.16B	4.85B	4.8B
Constellation Midwest Growth	-	-	-	21.08%	-6.16%	-0.85%
Constellation New York	-	-	1.63B	2B	2.02B	2.05B
Constellation New York Growth	-	-	-	22.72%	0.85%	1.43%
Constellation ERCOT	-	-	1.18B	1.56B	1.35B	1.55B
Constellation ERCOT Growth	-	-	-	31.75%	-13.50%	15.16%

Frequently Asked Questions

Valuation & Price

Constellation Energy Corporation (CEG) has a price-to-earnings (P/E) ratio of 28.7x. This suggests investors expect higher future growth.

Growth & Financials

Constellation Energy Corporation (CEG) reported $25.45B in revenue for fiscal year 2024. This represents a 76% increase from $14.44B in 2012.

Constellation Energy Corporation (CEG) saw revenue decline by 5.4% over the past year.

Yes, Constellation Energy Corporation (CEG) is profitable, generating $2.74B in net income for fiscal year 2024 (15.9% net margin).

Dividend & Returns

Yes, Constellation Energy Corporation (CEG) pays a dividend with a yield of 0.41%. This makes it attractive for income-focused investors.

Constellation Energy Corporation (CEG) has a return on equity (ROE) of 30.2%. This is excellent, indicating efficient use of shareholder capital.

Constellation Energy Corporation (CEG) generated $2.83B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Constellation Energy Corporation (CEG) has a dividend payout ratio of 12%. This suggests the dividend is well-covered and sustainable.

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