This page shows CONSTELLATION ENERGY CORP (CEG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
CONSTELLATION ENERGY CORP has an operating margin of 12.1%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 49/100, indicating healthy but not exceptional operating efficiency. This is down from 18.5% the prior year.
CONSTELLATION ENERGY CORP's revenue grew 8.3% year-over-year to $25.5B, a solid pace of expansion. This earns a growth score of 47/100.
CONSTELLATION ENERGY CORP carries a low D/E ratio of 0.50, meaning only $0.50 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.
CONSTELLATION ENERGY CORP's current ratio of 1.53 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 26/100, which could limit financial flexibility.
CONSTELLATION ENERGY CORP has a free cash flow margin of 5.0%, earning a moderate score of 38/100. The company generates positive cash flow after capital investments, but with room for improvement.
CONSTELLATION ENERGY CORP's ROE of 16.0% shows moderate profitability relative to equity, earning a score of 47/100. This is down from 28.5% the prior year.
CONSTELLATION ENERGY CORP scores 2.25, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($98.8B) relative to total liabilities ($42.4B). This signals moderate financial risk that warrants monitoring.
CONSTELLATION ENERGY CORP passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, CONSTELLATION ENERGY CORP generates $1.83 in operating cash flow ($4.2B OCF vs $2.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
CONSTELLATION ENERGY CORP earns $6.0 in operating income for every $1 of interest expense ($3.1B vs $511.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
CONSTELLATION ENERGY CORP generated $25.5B in revenue in fiscal year 2025. This represents an increase of 8.3% from the prior year.
CONSTELLATION ENERGY CORP's EBITDA was $5.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.4% from the prior year.
CONSTELLATION ENERGY CORP reported $2.3B in net income in fiscal year 2025. This represents a decrease of 38.1% from the prior year.
CONSTELLATION ENERGY CORP earned $7.40 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 37.8% from the prior year.
Cash & Balance Sheet
CONSTELLATION ENERGY CORP generated $1.3B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 125.6% from the prior year.
CONSTELLATION ENERGY CORP held $3.6B in cash against $7.3B in long-term debt as of fiscal year 2025.
CONSTELLATION ENERGY CORP paid $0.39 per share in dividends in fiscal year 2025. This represents an increase of 10.0% from the prior year.
CONSTELLATION ENERGY CORP had 362M shares outstanding in fiscal year 2025. This represents an increase of 15.7% from the prior year.
Margins & Returns
CONSTELLATION ENERGY CORP's operating margin was 12.1% in fiscal year 2025, reflecting core business profitability. This is down 6.4 percentage points from the prior year.
CONSTELLATION ENERGY CORP's net profit margin was 9.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.8 percentage points from the prior year.
CONSTELLATION ENERGY CORP's ROE was 16.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 12.5 percentage points from the prior year.
Capital Allocation
CONSTELLATION ENERGY CORP spent $400.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 60.0% from the prior year.
CONSTELLATION ENERGY CORP invested $2.9B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 15.0% from the prior year.
CEG Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.1B-7.5% | $6.6B+7.7% | $6.1B-10.1% | $6.8B+26.1% | $5.4B-17.8% | $6.5B+19.6% | $5.5B-11.1% | $6.2B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $598.0M-44.9% | $1.1B+14.2% | $951.0M+110.9% | $451.0M-53.6% | $972.0M-33.7% | $1.5B+33.4% | $1.1B+35.3% | $813.0M |
| Interest Expense | $113.0M-15.7% | $134.0M+13.6% | $118.0M-19.2% | $146.0M+62.2% | $90.0M-38.8% | $147.0M+3.5% | $142.0M+11.8% | $127.0M |
| Income Tax | $259.0M-44.4% | $466.0M+5.9% | $440.0M+1900.0% | $22.0M+266.7% | $6.0M-98.7% | $449.0M+191.6% | $154.0M-6.7% | $165.0M |
| Net Income | $432.0M-53.5% | $930.0M+10.8% | $839.0M+611.0% | $118.0M-86.2% | $852.0M-29.0% | $1.2B+47.4% | $814.0M-7.8% | $883.0M |
| EPS (Diluted) | N/A | $2.97+11.2% | $2.67+602.6% | $0.38 | N/A | $3.82+48.1% | $2.58-7.2% | $2.78 |
CEG Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $57.2B+1.9% | $56.2B+5.9% | $53.0B+1.5% | $52.3B-1.3% | $52.9B+2.1% | $51.8B+1.0% | $51.3B-1.3% | $52.0B |
| Current Assets | $12.1B+4.0% | $11.6B+26.2% | $9.2B-4.1% | $9.6B-10.6% | $10.8B+16.2% | $9.3B+18.1% | $7.9B-7.2% | $8.5B |
| Cash & Equivalents | $3.6B-8.0% | $4.0B+100.6% | $2.0B+6.9% | $1.8B-38.9% | $3.0B+68.5% | $1.8B+476.5% | $311.0M-44.7% | $562.0M |
| Inventory | $1.7B | N/A | N/A | N/A | $1.6B | N/A | N/A | N/A |
| Accounts Receivable | $4.3B+34.7% | $3.2B+7.5% | $2.9B-7.7% | $3.2B-14.1% | $3.7B+207.8% | $1.2B-23.4% | $1.6B-14.9% | $1.9B |
| Goodwill | $420.0M0.0% | $420.0M0.0% | $420.0M0.0% | $420.0M0.0% | $420.0M0.0% | $420.0M0.0% | $420.0M-1.2% | $425.0M |
| Total Liabilities | $42.4B+2.2% | $41.5B+5.7% | $39.2B+0.8% | $38.9B-1.2% | $39.4B+1.3% | $38.9B-1.7% | $39.6B-2.2% | $40.5B |
| Current Liabilities | $7.9B+6.6% | $7.5B+19.2% | $6.3B-4.4% | $6.5B-4.4% | $6.8B+25.6% | $5.5B-6.0% | $5.8B-2.0% | $5.9B |
| Long-Term Debt | $7.3B-0.3% | $7.3B-0.2% | $7.3B-0.5% | $7.3B-0.9% | $7.4B+0.1% | $7.4B-0.4% | $7.4B-11.3% | $8.4B |
| Total Equity | $14.5B+1.2% | $14.3B+6.7% | $13.4B+3.8% | $13.0B-1.6% | $13.2B+4.7% | $12.6B+10.0% | $11.4B+2.0% | $11.2B |
| Retained Earnings | $5.9B+5.6% | $5.6B+16.9% | $4.8B+17.7% | $4.1B-0.1% | $4.1B+22.3% | $3.3B+48.7% | $2.2B+46.0% | $1.5B |
CEG Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $805.0M-56.4% | $1.8B+25.1% | $1.5B+1280.4% | $107.0M+110.5% | -$1.0B-807.1% | -$112.0M+81.7% | -$613.0M+15.2% | -$723.0M |
| Capital Expenditures | $986.0M+152.8% | $390.0M-49.2% | $767.0M-4.8% | $806.0M+10.6% | $729.0M+32.1% | $552.0M+1.1% | $546.0M-26.0% | $738.0M |
| Free Cash Flow | -$181.0M-112.4% | $1.5B+105.4% | $710.0M+201.6% | -$699.0M+59.9% | -$1.7B-162.8% | -$664.0M+42.7% | -$1.2B+20.7% | -$1.5B |
| Investing Cash Flow | -$977.0M-111.0% | -$463.0M+46.9% | -$872.0M+1.6% | -$886.0M-137.4% | $2.4B-1.4% | $2.4B+32.2% | $1.8B+119.3% | $830.0M |
| Financing Cash Flow | -$171.0M-126.6% | $644.0M+232.8% | -$485.0M-18.9% | -$408.0M-274.3% | -$109.0M+86.3% | -$795.0M+45.9% | -$1.5B-1848.8% | $84.0M |
| Dividends Paid | $121.0M0.0% | $121.0M-0.8% | $122.0M0.0% | $122.0M+9.9% | $111.0M0.0% | $111.0M+0.9% | $110.0M-1.8% | $112.0M |
| Share Buybacks | $0 | $0-100.0% | $400.0M | $0 | $0 | $0-100.0% | $500.0M+0.2% | $499.0M |
CEG Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 9.8%-6.7pp | 16.5%+0.9pp | 15.6%+9.0pp | 6.6%-11.4pp | 18.1%-4.3pp | 22.4%+2.3pp | 20.1%+6.9pp | 13.2% |
| Net Margin | 7.1%-7.1pp | 14.2%+0.4pp | 13.8%+12.0pp | 1.7%-14.1pp | 15.8%-2.5pp | 18.3%+3.5pp | 14.9%+0.5pp | 14.3% |
| Return on Equity | 3.0%-3.5pp | 6.5%+0.2pp | 6.2%+5.3pp | 0.9%-5.6pp | 6.5%-3.1pp | 9.6%+2.4pp | 7.1%-0.8pp | 7.9% |
| Return on Assets | 0.8%-0.9pp | 1.7%+0.1pp | 1.6%+1.4pp | 0.2%-1.4pp | 1.6%-0.7pp | 2.3%+0.7pp | 1.6%-0.1pp | 1.7% |
| Current Ratio | 1.53-0.0 | 1.56+0.1 | 1.480.0 | 1.47-0.1 | 1.57-0.1 | 1.70+0.3 | 1.35-0.1 | 1.43 |
| Debt-to-Equity | 0.500.0 | 0.51-0.0 | 0.54-0.0 | 0.570.0 | 0.56-0.0 | 0.59-0.1 | 0.65-0.1 | 0.75 |
| FCF Margin | -3.0%-25.2pp | 22.2%+10.5pp | 11.6%+21.9pp | -10.3%+22.1pp | -32.4%-22.3pp | -10.1%+11.0pp | -21.2%+2.5pp | -23.7% |
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Frequently Asked Questions
What is CONSTELLATION ENERGY CORP's annual revenue?
CONSTELLATION ENERGY CORP (CEG) reported $25.5B in total revenue for fiscal year 2025. This represents a 8.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is CONSTELLATION ENERGY CORP's revenue growing?
CONSTELLATION ENERGY CORP (CEG) revenue grew by 8.3% year-over-year, from $23.6B to $25.5B in fiscal year 2025.
Is CONSTELLATION ENERGY CORP profitable?
Yes, CONSTELLATION ENERGY CORP (CEG) reported a net income of $2.3B in fiscal year 2025, with a net profit margin of 9.1%.
What is CONSTELLATION ENERGY CORP's EBITDA?
CONSTELLATION ENERGY CORP (CEG) had EBITDA of $5.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does CONSTELLATION ENERGY CORP have?
As of fiscal year 2025, CONSTELLATION ENERGY CORP (CEG) had $3.6B in cash and equivalents against $7.3B in long-term debt.
What is CONSTELLATION ENERGY CORP's operating margin?
CONSTELLATION ENERGY CORP (CEG) had an operating margin of 12.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is CONSTELLATION ENERGY CORP's net profit margin?
CONSTELLATION ENERGY CORP (CEG) had a net profit margin of 9.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does CONSTELLATION ENERGY CORP pay dividends?
Yes, CONSTELLATION ENERGY CORP (CEG) paid $0.39 per share in dividends during fiscal year 2025.
What is CONSTELLATION ENERGY CORP's return on equity (ROE)?
CONSTELLATION ENERGY CORP (CEG) has a return on equity of 16.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is CONSTELLATION ENERGY CORP's free cash flow?
CONSTELLATION ENERGY CORP (CEG) generated $1.3B in free cash flow during fiscal year 2025. This represents a 125.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is CONSTELLATION ENERGY CORP's operating cash flow?
CONSTELLATION ENERGY CORP (CEG) generated $4.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are CONSTELLATION ENERGY CORP's total assets?
CONSTELLATION ENERGY CORP (CEG) had $57.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are CONSTELLATION ENERGY CORP's capital expenditures?
CONSTELLATION ENERGY CORP (CEG) invested $2.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is CONSTELLATION ENERGY CORP's current ratio?
CONSTELLATION ENERGY CORP (CEG) had a current ratio of 1.53 as of fiscal year 2025, which is generally considered healthy.
What is CONSTELLATION ENERGY CORP's debt-to-equity ratio?
CONSTELLATION ENERGY CORP (CEG) had a debt-to-equity ratio of 0.50 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CONSTELLATION ENERGY CORP's return on assets (ROA)?
CONSTELLATION ENERGY CORP (CEG) had a return on assets of 4.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is CONSTELLATION ENERGY CORP's Altman Z-Score?
CONSTELLATION ENERGY CORP (CEG) has an Altman Z-Score of 2.25, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is CONSTELLATION ENERGY CORP's Piotroski F-Score?
CONSTELLATION ENERGY CORP (CEG) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are CONSTELLATION ENERGY CORP's earnings high quality?
CONSTELLATION ENERGY CORP (CEG) has an earnings quality ratio of 1.83x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can CONSTELLATION ENERGY CORP cover its interest payments?
CONSTELLATION ENERGY CORP (CEG) has an interest coverage ratio of 6.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is CONSTELLATION ENERGY CORP?
CONSTELLATION ENERGY CORP (CEG) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.