Constellation Energy Corp producer of carbon-free energy and a supplier of energy products and services. The company offers generating capacity that includes nuclear, wind, solar, natural gas, and hydroelectric assets.
It is a $106B utility company. Revenue grew 26.0% over the last year, it keeps 11¢ of every dollar of sales as profit, and its net debt equals ~17.0 years of free cash flow. It trades at 30.5× earnings — near the highest of its own history.
- Website
- constellation.com
- Location
- Baltimore, MD
- Employees
- 15 339
- Sector
- Utilities
- Founded
- 2022
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Valuation, Growth and Moat lag behind.
Valuation37
- P/E vs own history95th pct · 0/25
- FCF yield0.3% · 5/25
- P/S3.4x · 20/25
- EV/EBITDA21.7x · 12/25
Growth37
- Revenue CAGR6.8% · 12/25
- Net income CAGRn/a · 0/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth50.6% · 25/25
Profitability56
- ROIC11.5% · 12/25
- ROE14.7% · 12/25
- Net margin11.1% · 20/25
- Operating margin14.7% · 12/25
Health50
- Altman Zn/a · 0/25
- Current ratio1.46 · 12/25
- Interest coverage5.3x · 18/25
- Net cash / debtD/A 9% · 20/25
Quality50
- Piotroski F5/9 · 15/25
- Beneish M-2.13 · 12/25
- FCF conversion9% · 3/25
- Margin stabilityσ 5.9% · 20/25
Moat18
- ROIC >12% years2/4 yrs · 13/25
- Median gross margin9.2% · 0/25
- FCF-positive years1/5 yrs · 0/25
- Worst-year net marginworst -1.0% · 5/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2025AcquisitionConstellation agreed to acquire the natural gas and geothermal power provider Calpine for $16.4…
- FY2024FinancialBest year on record$3.75B net income
- FY2023FinancialTurned profitable$1.62B net income after a loss year
- 2022FoundedThe current iteration of the company was founded in 2022 after splitting off from Exelon
- FY2021FinancialRevenue already above $10B$19.6B in first reported year
- 2014AcquisitionIt agreed to acquire ETC ProLiance Energy, a supplier of natural gas to customers in several states
- 2012AcquisitionAs part of the 2012 merger, Baltimore Gas and Electric, the regulated utility operated by Constellation Energy,…
- 2011AcquisitionIt announced the acquisition of ONEOK Energy Marketing Co., a natural gas company with customers…
- 2010AcquisitionConstellation Energy closed its agreement with Clipper Windpower to acquire the Criterion Wind…
- 2008AcquisitionConstellation Energy bought uranium trading firm Nufcor International from AngloGold Ashanti and…
- Oct 25, 2006AcquisitionThe merger was canceled on October 25, 2006
- Dec 19, 2005AcquisitionFPL Group, Inc. announced the acquisition of Constellation Energy in a merger transaction…
- 1999ProductBaltimore Gas and Electric created Constellation as a holding company in 1999
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (43.9%)
- Revenue growing 26.0% year over year
- Interest covered 5.3× by operating earnings
Watch-outs
- Loss-making in 2 of the recent years
- Net debt equals ~17.0 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+26.0% YoY
- Profitable — makes more than it spends$3.46B TTM
- Profit growing — earnings are higher than last year+32.5% YoY
- Generates cash — cash left after running and investing$309M TTM
- Debt under control — could handle its obligations~17.0y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$106B market cap
- Not printing shares — share count not ballooning — you keep your slice-4.5% shares over ~5y
- Proven track record — years of profitability behind it3/5 profitable years
- Financially stable — balance sheet not near distresshealth score 30/100
- Pays a dividend — returns cash to shareholdersyield 2.39%
- Valuation not extreme — price not wildly above earningsP/E 30.5
Peer comparisonConstellation Energy Corporation vs 6 largest utilities peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| CEG this company | $105.8B | 30.5 | +26.0% | 11.1% | Strained |
| NEE NextEra Energy, Inc. | $161.3B | 17.4 | +10.8% | 32.4% | Strained |
| SO The Southern Company | $99.1B | 21.3 | +6.4% | 15.4% | Strained |
| DUK Duke Energy Corporation | $90.9B | 17.3 | +6.3% | 15.8% | Strained |
| WMB Williams Companies Inc. | $89.2B | 29.0 | +8.7% | 25.2% | Strained |
| KMI Kinder Morgan, Inc. | $72.4B | 20.9 | +12.5% | 19.3% | Strained |
| ET Energy Transfer LP Common | $70.5B | 13.3 | +33.3% | 4.9% | Strained |
Head-to-head: CEG vs NEE · CEG vs SO · CEG vs DUK
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/CEG
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Deeper analysis of CEG on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $298.74 · market cap $106B.