Constellation Energy Corporation (CEG) Financial Ratios
14 years of historical data (2012–2025) · Utilities · Renewable Utilities
EV/EBITDA
↑
25.17
↑+62% vs avg
5yr avg: 15.53
30Y Low10.8·High28.5
P/FCF
↑
75.49
↑+64% vs avg
5yr avg: 45.99
30Y Low14.2·High86.1
P/B Ratio
↑
6.58
↑+42% vs avg
5yr avg: 4.63
30Y Low2.5·High7.5
ROE
↑
16.3%
↓+41% vs avg
5yr avg: 11.6%
30Y Low-2%·High30%
Debt/EBITDA
↓
2.21
↓-2% vs avg
5yr avg: 2.26
30Y Low1.2·High3.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CEG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Constellation Energy Corporation trades at 42.1x earnings, 40% above its 5-year average of 30.0x, sitting at the 67th percentile of its historical range. Compared to the Utilities sector median P/E of 19.5x, the stock trades at a premium of 115%. On a free-cash-flow basis, the stock trades at 75.5x P/FCF, 64% above the 5-year average of 46.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $97.2B | $110.9B | $70.5B | $37.9B | $28.3B | — | — | — | — | — | — |
| Enterprise Value | $102.5B | $116.2B | $75.9B | $46.8B | $33.6B | — | — | — | — | — | — |
| P/E Ratio → | 42.06 | 47.74 | 18.80 | 23.33 | — | — | — | — | — | — | — |
| P/S Ratio | 3.81 | 4.34 | 2.99 | 1.52 | 1.16 | — | — | — | — | — | — |
| P/B Ratio | 6.58 | 7.47 | 5.20 | 3.36 | 2.49 | — | — | — | — | — | — |
| P/FCF | 75.49 | 86.12 | 14.20 | — | 37.65 | — | — | — | — | — | — |
| P/OCF | 22.95 | 26.18 | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
CEG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Constellation Energy Corporation's enterprise value stands at 25.2x EBITDA, 62% above its 5-year average of 15.5x. The Utilities sector median is 12.0x, placing the stock at a 111% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.55 | 3.22 | 1.88 | 1.38 | — | — | — | — | — | — |
| EV / EBITDA | 25.17 | 28.54 | 10.76 | 11.34 | 11.51 | — | — | — | — | — | — |
| EV / EBIT | 33.21 | 28.88 | 17.75 | 27.38 | 68.06 | — | — | — | — | — | — |
| EV / FCF | — | 90.19 | 15.28 | — | 44.77 | — | — | — | — | — | — |
CEG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Constellation Energy Corporation earns an operating margin of 12.1%, below the Utilities sector average of 19.8%. Operating margins have expanded from 6.5% to 12.1% over the past 3 years, signaling improving operational efficiency. ROE of 16.3% indicates solid capital efficiency, compared to the sector median of 9.3%. ROIC of 11.9% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.8% | 75.8% | 25.4% | 13.3% | 8.7% | 14.0% | 18.6% | 17.4% | 16.2% | 16.8% | 19.1% |
| Operating Margin | 12.1% | 12.1% | 18.5% | 6.5% | 2.0% | -1.8% | 1.5% | 7.0% | 4.8% | 5.1% | 4.6% |
| Net Profit Margin | 9.1% | 9.1% | 15.9% | 6.5% | -0.7% | -1.0% | 3.3% | 5.9% | 1.8% | 14.6% | 2.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.3% | 16.3% | 30.2% | 14.3% | -1.4% | -1.6% | 3.9% | 7.2% | 2.4% | 18.6% | 3.7% |
| ROA | 4.2% | 4.2% | 7.2% | 3.3% | -0.3% | -0.4% | 1.2% | 2.3% | 0.8% | 5.7% | 1.0% |
| ROIC | 11.9% | 11.9% | 16.7% | 6.5% | 2.1% | -1.3% | 0.8% | 4.2% | 3.0% | 3.0% | 2.7% |
| ROCE | 6.5% | 6.5% | 9.6% | 3.9% | 1.3% | -0.8% | 0.6% | 3.2% | 2.3% | 2.2% | 2.0% |
CEG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Constellation Energy Corporation carries a Debt/EBITDA ratio of 2.2x, which is manageable (57% below the sector average of 5.1x). Net debt stands at $5.2B ($9.0B total debt minus $3.7B cash). Interest coverage of 6.0x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.61 | 0.62 | 0.82 | 0.51 | 0.71 | 0.49 | 0.52 | 0.57 | 0.57 | 0.75 |
| Debt / EBITDA | 2.21 | 2.21 | 1.19 | 2.25 | 1.97 | 3.66 | 2.46 | 1.99 | 2.34 | 2.42 | 2.80 |
| Net Debt / Equity | — | 0.35 | 0.40 | 0.79 | 0.47 | 0.66 | 0.48 | 0.50 | 0.53 | 0.54 | 0.73 |
| Net Debt / EBITDA | 1.29 | 1.29 | 0.76 | 2.16 | 1.83 | 3.43 | 2.38 | 1.92 | 2.15 | 2.31 | 2.72 |
| Debt / FCF | — | 4.07 | 1.09 | — | 7.12 | 3.96 | — | 7.77 | 5.03 | 8.30 | 7.12 |
| Interest Coverage | 6.04 | 6.04 | 8.60 | 3.74 | 1.97 | -1.16 | 0.72 | 3.08 | 2.26 | 2.15 | 2.25 |
CEG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.53x means Constellation Energy Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.31x to 1.53x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.53 | 1.53 | 1.57 | 1.31 | 1.19 | 1.00 | 1.33 | 0.97 | 1.46 | 1.64 | 1.15 |
| Quick Ratio | 1.31 | 1.31 | 1.34 | 1.08 | 1.00 | 0.84 | 1.10 | 0.80 | 1.25 | 1.36 | 0.93 |
| Cash Ratio | 0.47 | 0.47 | 0.44 | 0.06 | 0.05 | 0.06 | 0.04 | 0.04 | 0.13 | 0.10 | 0.05 |
| Asset Turnover | — | 0.45 | 0.45 | 0.49 | 0.52 | 0.41 | 0.37 | 0.39 | 0.43 | 0.38 | 0.38 |
| Inventory Turnover | 3.55 | 3.55 | 10.99 | 14.41 | 14.82 | 13.12 | 11.83 | 12.38 | 14.11 | 12.82 | 11.71 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CEG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Constellation Energy Corporation returns 0.9% to shareholders annually — split between a 0.5% dividend yield and 0.4% buyback yield. The earnings yield of 2.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.4% | 0.6% | 1.0% | 0.7% | — | — | — | — | — | — |
| Payout Ratio | — | — | 11.8% | 22.6% | — | — | 294.4% | 79.9% | 270.5% | 24.3% | 190.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.4% | 2.1% | 5.3% | 4.3% | — | — | — | — | — | — | — |
| FCF Yield | 1.3% | 1.2% | 7.0% | — | 2.7% | — | — | — | — | — | — |
| Buyback Yield | 0.4% | 0.4% | 1.4% | 2.6% | 6.2% | — | — | — | — | — | — |
| Total Shareholder Yield | 0.9% | 0.8% | 2.0% | 3.6% | 6.8% | — | — | — | — | — | — |
| Shares Outstanding | — | $314M | $315M | $324M | $328M | $327M | $327M | $327M | $326M | $326M | $326M |
Peer Comparison
Compare CEG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CEGYou | $97B | 42.1 | 25.2 | 75.5 | 75.8% | 12.1% | 16.3% | 11.9% | 2.2 |
 VST | $52B | 69.7 | 16.7 | 404.3 | 17.5% | 7.9% | 17.7% | 4.3% | 4.8 |
 NRG | $30B | 35.3 | 11.2 | 39.7 | 21.8% | 6.0% | 41.5% | 10.6% | 4.4 |
 TLN | $18B | -81.5 | 114.9 | — | 49.7% | -2.8% | -17.7% | -0.9% | 32.7 |
 CWEN | $8B | 26.9 | 16.2 | 21.2 | 15.2% | 12.3% | 2.9% | 0.9% | 9.6 |
 AES | $10B | 11.3 | 11.2 | — | 18.1% | 16.1% | 9.7% | 3.9% | 8.8 |
 EXC | $45B | 16.2 | 10.8 | — | 27.9% | 21.2% | 9.9% | 5.1% | 5.8 |
 ETR | $51B | 28.7 | 14.7 | — | 29.9% | 23.6% | 10.9% | 5.0% | 5.5 |
 PPL | $27B | 23.0 | 12.7 | — | 39.1% | 23.6% | 6.6% | 4.6% | 5.2 |
 D | $54B | 17.9 | 15.1 | — | 49.0% | 26.7% | 9.4% | 4.3% | 7.2 |
 DUK | $97B | 19.8 | 12.6 | — | 31.6% | 26.6% | 9.5% | 4.6% | 6.1 |
| Utilities Median | — | 19.5 | 12.0 | 16.2 | 39.6% | 19.8% | 9.3% | 4.8% | 5.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonCEG — Frequently Asked Questions
Quick answers to the most common questions about buying CEG stock.
What is Constellation Energy Corporation's P/E ratio?
Constellation Energy Corporation's current P/E ratio is 42.1x. The historical average is 30.0x. This places it at the 67th percentile of its historical range.
What is Constellation Energy Corporation's EV/EBITDA?
Constellation Energy Corporation's current EV/EBITDA is 25.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.5x.
What is Constellation Energy Corporation's ROE?
Constellation Energy Corporation's return on equity (ROE) is 16.3%. The historical average is 8.8%.
Is CEG stock overvalued?
Based on historical data, Constellation Energy Corporation is trading at a P/E of 42.1x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Constellation Energy Corporation's dividend yield?
Constellation Energy Corporation's current dividend yield is 0.50%.
What are Constellation Energy Corporation's profit margins?
Constellation Energy Corporation has 75.8% gross margin and 12.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Constellation Energy Corporation have?
Constellation Energy Corporation's Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.