Duke Energy Corporation (DUK) 10-Year Financial Performance & Capital Metrics

DUK • • Utilities

UtilitiesElectric UtilitiesIntegrated Electric UtilitiesMajor Multi-State Integrated Utilities

AboutDuke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity. It also engages in the wholesale of electricity to municipalities, electric cooperative utilities, and load-serving entities. This segment serves approximately 8.2 million customers in 6 states in the Southeast and Midwest regions of the United States covering a service territory of approximately 91,000 square miles; and owns approximately 50,259 megawatts (MW) of generation capacity. The Gas Utilities and Infrastructure segment distributes natural gas to residential, commercial, industrial, and power generation natural gas customers; and owns, operates, and invests in pipeline transmission and natural gas storage facilities. It has approximately 1.6 million customers, including 1.1 million customers in North Carolina, South Carolina, and Tennessee, as well as 550,000 customers in southwestern Ohio and northern Kentucky. The Commercial Renewables segment acquires, owns, develops, builds, and operates wind and solar renewable generation projects, including nonregulated renewable energy and energy storage services to utilities, electric cooperatives, municipalities, and corporate customers. It has 23 wind, 178 solar, and 2 battery storage facilities, as well as 71 fuel cell locations with a capacity of 3,554 MW across 22 states. The company was formerly known as Duke Energy Holding Corp. and changed its name to Duke Energy Corporation in April 2005. The company was founded in 1904 and is headquartered in Charlotte, North Carolina.Show more

Revenue $30.36B +4.5%
EBITDA $14.35B +9.1%
Net Income $4.51B +5.0%
Free Cash Flow $48M +101.8%
EBITDA Margin 47.25% +4.4%
Net Margin 14.86% +0.5%
ROE 8.89% +5.6%
Interest Coverage 2.34 -0.2%
Debt/Equity 1.66 +3.7%
Net Debt/EBITDA 5.92 -2.9%
CapEx / Revenue 40.45% -6.7%
CapEx Coverage 1.00 +28.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 3.5%

✗Weaknesses

✗High leverage: 5.9x Debt/EBITDA

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.04%

5Y3.89%

3Y7.23%

TTM5.22%

Profit (Net Income) CAGR

10Y4.84%

5Y3.77%

3Y4.89%

TTM13.22%

EPS CAGR

10Y7.94%

5Y2.45%

3Y4.95%

TTM14.18%

ROCE

10Y Avg4.15%

5Y Avg3.99%

3Y Avg4.38%

Latest4.85%

Peer Comparison

Major Multi-State Integrated Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ETREntergy Corporation	42.15B	94.37	38.52	-2.2%	14.28%	10.71%		1.90
FEFirstEnergy Corp.	26.17B	45.30	26.65	4.68%	9.19%	9.38%		1.77
SOThe Southern Company	96.4B	87.55	21.94	5.83%	15.42%	11.65%	0.86%	1.81
AEPAmerican Electric Power Company, Inc.	62.29B	116.62	20.90	2.76%	17.08%	11.63%		1.70
DUKDuke Energy Corporation	91.29B	117.39	20.56	4.46%	15.71%	9.49%	0.05%	1.66
EXCExelon Corporation	43.68B	43.32	17.68	5.99%	11.6%	10.03%		1.73
SOJCThe Southern Company JR 2017B NT 77	22.1B	22.11	5.54	5.83%	15.42%	11.65%	0.91%	1.81
SOJDSouthern Company (The) Series 2	2.07K	20.67	5.18	5.83%	15.42%	11.65%	100%	1.81

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	22.37B	22.74B	23.57B	24.52B	25.08B	23.37B	24.62B	28.77B	29.06B	30.36B
Revenue Growth %	-0.01%	0.02%	0.04%	0.04%	0.02%	-0.07%	0.05%	0.17%	0.01%	0.04%
Cost of Revenue	13.04B	13.11B	12.93B	13.99B	13.52B	12.01B	12.66B	15.79B	15.3B	15.16B
Gross Profit+	9.34B	9.63B	10.7B	10.53B	11.56B	11.35B	11.96B	12.98B	13.76B	15.2B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.01%	0.03%	0.11%	-0.02%	0.1%	-0.02%	0.05%	0.09%	0.06%	0.1%
Operating Expenses+	4.18B	4.44B	4.76B	5.35B	5.86B	6.78B	6.46B	6.96B	6.69B	7.27B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	8.69B	9.08B	9.67B	9.38B	10.88B	10.06B	11.16B	11.86B	13.15B	14.35B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.04%	0.04%	0.06%	-0.03%	0.16%	-0.08%	0.11%	0.06%	0.11%	0.09%
Depreciation & Amortization+	3.61B	3.88B	4.05B	4.7B	5.18B	5.49B	5.66B	5.84B	6.08B	6.42B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	5.08B	5.2B	5.63B	4.68B	5.71B	4.57B	5.5B	6.01B	7.07B	7.93B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.05%	0.02%	0.08%	-0.17%	0.22%	-0.2%	0.2%	0.09%	0.18%	0.12%
Interest Expense+	1.53B	1.73B	1.99B	2.09B	2.2B	2.16B	2.21B	2.44B	3.01B	3.38B
Interest Coverage	3.33x	3.01x	2.83x	2.24x	2.59x	2.11x	2.49x	2.46x	2.35x	2.34x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	3.91B	3.73B	4.27B	3.07B	4.1B	920M	3.99B	4.08B	4.77B	5.19B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.26B	1.16B	1.2B	448M	519M	-169M	268M	300M	438M	590M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	2.86B	2.67B	3.06B	2.67B	3.75B	1.38B	3.91B	2.55B	4.3B	4.51B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	-0.07%	0.15%	-0.13%	0.41%	-0.63%	1.84%	-0.35%	0.68%	0.05%
EPS (Diluted)+	4.05	3.11	4.36	3.77	5.06	1.72	4.94	3.17	5.43	5.71
EPS Growth %	0.52%	-0.23%	0.4%	-0.14%	0.34%	-0.66%	1.87%	-0.36%	0.71%	0.05%
EPS (Basic)	4.05	3.11	4.36	3.77	5.06	1.72	4.94	3.17	5.43	5.71
Diluted Shares Outstanding	694M	691M	700M	708M	729M	738M	769M	770M	771M	772M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	121.16B	132.76B	137.91B	145.39B	158.84B	162.39B	169.59B	178.09B	176.89B	186.34B
Asset Growth %	0%	0.1%	0.04%	0.05%	0.09%	0.02%	0.04%	0.05%	-0.01%	0.05%
PP&E (Net)+	72.21B	82.52B	86.39B	91.69B	103.78B	108.31B	106.67B	112.79B	116.41B	124.45B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	8.32B	8.04B	8.45B	9.71B	9.16B	8.68B	9.94B	13.22B	12.77B	12.95B
Cash & Equivalents	383M	392M	358M	442M	311M	259M	341M	409M	253M	314M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	3.75B	3.52B	3.25B	3.08B	3.23B	3.17B	3.11B	3.58B	4.29B	4.51B
Other Current Assets	1.93B	1.48B	2.07B	3.05B	2.56B	2.1B	2.97B	4.81B	4.09B	3.46B
Long-Term Investments	6.32B	7.13B	8.27B	8.13B	10.08B	10.07B	10.86B	9.09B	10.63B	11.79B
Goodwill	16.07B	19.43B	19.4B	19.3B	19.3B	19.3B	19.3B	19.3B	19.3B	19.3B
Intangible Assets	242M	226M	230M	246M	0	0	0	0	0	0
Other Assets	16.66B	15.65B	15.4B	16.55B	16.51B	16.02B	22.81B	23.68B	17.78B	17.85B
Total Liabilities	81.39B	91.72B	96.18B	101.56B	110.89B	113.2B	118.45B	126.23B	126.71B	135.09B
Total Debt+	42.5B	50.38B	54.44B	57.94B	62.69B	64.08B	68.26B	74.91B	80.46B	85.23B
Net Debt	43.01B	50.8B	54.54B	57.5B	62.38B	63.82B	67.92B	74.5B	80.2B	84.92B
Long-Term Debt	36.84B	45.58B	49.03B	50.18B	54.98B	55.63B	59.68B	65.87B	72.45B	76.34B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	941M	1.43B	1.34B	2.04B	1.82B	917M	957M
Total Current Liabilities+	11.4B	11.55B	12.48B	15.04B	14.75B	16.3B	15.93B	18.87B	17.28B	19.36B
Accounts Payable	2.35B	2.99B	3.04B	3.49B	3.49B	3.14B	3.53B	4.75B	4.23B	5.48B
Accrued Expenses	1.09B	1.33B	1.34B	1.36B	565M	537M	530M	626M	745M	855M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	2.69B	2.86B	2.96B	3.6B	4.03B	5.03B	4.26B	4.61B	4.41B	4.24B
Deferred Taxes	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	19.71B	19.63B	27.58B	27.59B	30.84B	30.69B	31.75B	30.65B	25.5B	27.01B
Total Equity+	39.77B	41.04B	41.74B	43.83B	47.95B	49.18B	51.14B	51.85B	50.19B	51.26B
Equity Growth %	-0.03%	0.03%	0.02%	0.05%	0.09%	0.03%	0.04%	0.01%	-0.03%	0.02%
Shareholders Equity	39.73B	41.03B	41.74B	43.82B	46.82B	47.96B	49.3B	49.32B	49.11B	50.13B
Minority Interest	44M	8M	-2M	17M	1.13B	1.22B	1.84B	2.53B	1.07B	1.13B
Common Stock	1M	1M	1M	1M	1M	1M	1M	1M	0	0
Additional Paid-in Capital	37.97B	38.74B	38.79B	40.8B	40.88B	43.77B	44.37B	44.86B	44.92B	45.49B
Retained Earnings	2.56B	2.38B	3.01B	3.11B	4.11B	2.47B	3.27B	2.64B	2.23B	3.43B
Accumulated OCI	-806M	-93M	-67M	-92M	-130M	-237M	-303M	-140M	-6M	228M
Return on Assets (ROA)	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0.02%	0.01%	0.02%	0.02%
Return on Equity (ROE)	0.07%	0.07%	0.07%	0.06%	0.08%	0.03%	0.08%	0.05%	0.08%	0.09%
Debt / Equity	1.07x	1.23x	1.30x	1.32x	1.31x	1.30x	1.33x	1.44x	1.60x	1.66x
Debt / Assets	0.35%	0.38%	0.39%	0.4%	0.39%	0.39%	0.4%	0.42%	0.45%	0.46%
Net Debt / EBITDA	4.95x	5.59x	5.64x	6.13x	5.73x	6.35x	6.08x	6.28x	6.10x	5.92x
Book Value per Share	57.31	59.39	59.62	61.91	65.78	66.64	66.5	67.34	65.09	66.39

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+	6.68B	6.8B	6.62B	7.19B	8.21B	8.86B	8.29B	5.93B	9.88B	12.33B
Operating CF Growth %	0.01%	0.02%	-0.03%	0.08%	0.14%	0.08%	-0.06%	-0.29%	0.67%	0.25%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	2.83B	2.17B	3.06B	2.64B	3.57B	1.08B	3.58B	2.59B	2.87B	4.61B
Depreciation & Amortization	3.61B	3.88B	4.05B	4.7B	5.18B	5.49B	5.66B	5.84B	6.08B	6.42B
Deferred Taxes	1.24B	900M	1.43B	1.08B	806M	54M	191M	-200M	3M	987M
Other Non-Cash Items	-705M	-356M	-758M	-27M	-422M	2.79B	-16M	944M	667M	-870M
Working Capital Changes	-307M	151M	-1.22B	-1.21B	-922M	-637M	-1.21B	-3.25B	250M	1.18B
Capital Expenditures+	-6.77B	-7.9B	-8.05B	-9.39B	-11.12B	-9.91B	-9.71B	-11.37B	-12.6B	-12.28B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-5.28B	-11.53B	-8.44B	-10.06B	-11.96B	-10.6B	-10.94B	-11.97B	-12.47B	-13.12B
Acquisitions	-1.33B	-3.36B	-13M	-279M	-313M	-237M	-892M	-52M	0	0
Purchase of Investments	-4.3B	-5.46B	-4.07B	-4.18B	-3.67B	-8.38B	-6.18B	-4.3B	-3.76B	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Investing	115M	-48M	-404M	39M	-193M	-28M	-252M	-586M	66M	-843M
Cash from Financing+	-2.58B	4.25B	1.78B	2.96B	3.73B	1.73B	2.61B	6.13B	2.35B	859M
Dividends Paid	-2.25B	-2.33B	-2.45B	-2.47B	-2.67B	-2.81B	-3.11B	-3.18B	-3.24B	-3.21B
Dividend Payout Ratio %	0.79%	0.87%	0.8%	0.93%	0.71%	2.04%	0.8%	1.25%	0.76%	0.71%
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Stock Issued	17M	731M	0	1.84B	384M	2.75B	5M	9M	8M	405M
Share Repurchases	-1.5B	0	0	0	0	0	0	0	0	0
Other Financing	1.25B	-16M	1M	1.01B	817M	293M	1.48B	1.25B	154M	-5M
Net Change in Cash+	-1.18B	60M	-36M	86M	-18M	-17M	-36M	83M	-246M	64M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	2.04B	383M	392M	505M	591M	573M	556M	520M	603M	357M
Cash at End	383M	392M	358M	591M	573M	556M	520M	603M	357M	421M
Free Cash Flow+	-90M	-1.1B	-1.43B	-2.2B	-2.91B	-1.05B	-1.43B	-5.44B	-2.73B	48M
FCF Growth %	-1.07%	-11.26%	-0.29%	-0.54%	-0.32%	0.64%	-0.36%	-2.82%	0.5%	1.02%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.09%	6.6%	7.39%	6.23%	8.17%	2.84%	7.79%	4.95%	8.42%	8.89%
EBITDA Margin	38.85%	39.93%	41.04%	38.26%	43.4%	43.04%	45.34%	41.21%	45.26%	47.25%
Net Debt / EBITDA	4.95x	5.59x	5.64x	6.13x	5.73x	6.35x	6.08x	6.28x	6.10x	5.92x
Interest Coverage	3.33x	3.01x	2.83x	2.24x	2.59x	2.11x	2.49x	2.46x	2.35x	2.34x
CapEx / Revenue	30.24%	34.74%	34.17%	38.29%	44.35%	42.4%	39.46%	39.51%	43.37%	40.45%
Dividend Payout Ratio	78.78%	87.47%	80.09%	92.69%	71.18%	204.21%	79.68%	124.67%	75.51%	71.24%
Debt / Equity	1.07x	1.23x	1.30x	1.32x	1.31x	1.30x	1.33x	1.44x	1.60x	1.66x
EPS Growth	52.26%	-23.21%	40.19%	-13.53%	34.22%	-66.01%	187.21%	-35.83%	71.29%	5.16%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Electric Utilities and Infrastructure	-	21.34B	21.3B	22.24B	22.8B	21.69B	22.57B	25.99B	26.85B	26.81B
Electric Utilities and Infrastructure Growth	-	-	-0.17%	4.42%	2.50%	-4.87%	4.07%	15.15%	3.29%	-0.13%
Gas Utilities and Infrastructure	-	875M	1.74B	1.78B	1.77B	1.65B	2.02B	2.75B	2.18B	2.32B
Gas Utilities and Infrastructure Growth	-	-	99.20%	2.29%	-0.73%	-6.61%	22.32%	35.91%	-20.78%	6.57%
Other	-	48M	62M	19M	24M	26M	29M	30M	37M	-
Other Growth	-	-	29.17%	-69.35%	26.32%	8.33%	11.54%	3.45%	23.33%	-
Commercial Renewables	-	484M	460M	477M	487M	502M	476M	-	-	-
Commercial Renewables Growth	-	-	-4.96%	3.70%	2.10%	3.08%	-5.18%	-	-	-
Commercial Power	260M	-	-	-	-	-	-	-	-	-
Commercial Power Growth	-	-	-	-	-	-	-	-	-	-
International Energy	63M	-	-	-	-	-	-	-	-	-
International Energy Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
United States	-	22.74B	23.57B	24.52B	25.08B	23.87B	25.1B	28.77B	29.06B	-
United States Growth	-	-	3.61%	4.06%	2.28%	-4.83%	5.15%	14.63%	1.02%	-
North America	22.37B	-	-	-	-	-	-	-	-	-
North America Growth	-	-	-	-	-	-	-	-	-	-
Latin America	1.09B	-	-	-	-	-	-	-	-	-
Latin America Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Duke Energy Corporation (DUK) has a price-to-earnings (P/E) ratio of 20.6x. This is roughly in line with market averages.

Growth & Financials

Duke Energy Corporation (DUK) reported $31.79B in revenue for fiscal year 2024. This represents a 119% increase from $14.53B in 2011.

Duke Energy Corporation (DUK) grew revenue by 4.5% over the past year. Growth has been modest.

Yes, Duke Energy Corporation (DUK) is profitable, generating $4.99B in net income for fiscal year 2024 (14.9% net margin).

Dividend & Returns

Yes, Duke Energy Corporation (DUK) pays a dividend with a yield of 3.55%. This makes it attractive for income-focused investors.

Duke Energy Corporation (DUK) has a return on equity (ROE) of 8.9%. This is below average, suggesting room for improvement.

Duke Energy Corporation (DUK) generated $8.96B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Duke Energy Corporation (DUK) has a dividend payout ratio of 71%. The dividend is reasonably covered.

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