Operating margin
12.1% Fiscal year 2025
Rank 44 of 100: higher than 44% of 192 peers (All). medium.
Sector: too few peers
Operating income divided by revenue: what the core business earns before interest and taxes.
Constellation Energy operates nuclear power plants in the US and sells electricity to households, businesses and utilities. The acquisition of Calpine in early 2026 added many gas and geothermal plants. Large technology companies purchase low-carbon power from it for data centers. As of Oct 13, 2026
Constellation generates electricity competitively, using nuclear energy, natural gas, geothermal, hydropower, wind and solar. The company was spun off from Exelon in February 2022 and has been independent since then. In January 2026 Constellation acquired the generator Calpine, which brings in gas and geothermal plants focused on Texas, California and the Northeast. In its customer business, the company supplies electricity, natural gas and energy services to utilities, municipalities, cooperatives, businesses, government agencies and households. It also trades in all domestic wholesale markets for electricity and gas.
Automatically summarized from SEC annual report (10-K, filed Feb 24, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
This method currently detects no pattern for CEG. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What is this? After strong news, usually earnings, the price opened above the previous day’s high and closed much higher on heavy volume. Such moves often continue for a few more days.
This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
Constellation Energy · Sector Utilities · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 24, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
12.1% Fiscal year 2025
Rank 44 of 100: higher than 44% of 192 peers (All). medium.
Sector: too few peers
Operating income divided by revenue: what the core business earns before interest and taxes.
9.1% Fiscal year 2025
Rank 36 of 100: higher than 36% of 237 peers (All). medium.
Sector: too few peers
Profit after all costs, interest and taxes divided by revenue.
16.0% Fiscal year 2025
Rank 49 of 100: higher than 49% of 218 peers (All). medium.
Sector: too few peers
Net income divided by equity at fiscal year end.
4.1% Fiscal year 2025 (total assets at year end)
Rank 38 of 100: higher than 38% of 238 peers (All). medium.
Sector: too few peers
Net income divided by total assets at fiscal year end.
25.4% Fiscal year 2025
Rank 35 of 100: higher than 35% of 239 peers (All). medium.
Sector: too few peers
Equity as a share of total assets. Usually low for banks.
5.0% Fiscal year 2025
Rank 28 of 100: higher than 28% of 213 peers (All). weak.
Sector: too few peers
Free cash flow divided by revenue.
1.3B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
+1.5% per year
Rank 22 of 100: higher than 22% of 230 peers (All). weak.
Sector: too few peers
Average growth per year over 3 fiscal years.
+7.7% per year
Rank 32 of 100: higher than 32% of 217 peers (All). weak.
Sector: too few peers
Average growth per year over 5 fiscal years.
6 of 8 Fiscal year 2025
No rank: not all 9 criteria have data.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
0.50 at fiscal year end
Rank 57 of 100: lower than 57% of 199 peers (All). medium.
Sector: too few peers
Long-term financial debt divided by equity.
1.53 at fiscal year end
Rank 54 of 100: higher than 54% of 215 peers (All). medium.
Sector: too few peers
Current assets divided by current liabilities.
−4.6% in 3 years
No rank: too few peers or not computed yet.
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 25.5B USD · Net income 2.3B USD · Net margin 9.1%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 12.1 USD operating income and 9.1 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 25.5B USD | 100.0% |
| Operating income | 3.1B USD | 12.1% |
| Cost of revenue and operating expenses | 22.4B USD | 87.9% |
| Net income | 2.3B USD | 9.1% |
| Interest expense | 511.0M USD | 2.0% |
| Taxes & other (net) | 256.0M USD | 1.0% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin rose in 5 years from 1.5% to 12.1%.
Operating marginNet marginReturn on equity rose in 5 years from 4.0% to 16.0%.
Return on equityReturn on assetsThe equity ratio rose in 4 years from 23.3% to 25.4%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.The current ratio rose in 4 years from 1.00 to 1.53.
Current ratioFree cash flow rose in 5 years from −1.2B USD to 1.3B USD.
Operating cash flowCapital expenditureFree cash flow in USDFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Over 5 years, 3.9B USD went back to shareholders, 62% of it through share repurchases. Free cash flow over those years was not positive in total.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USDDividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Constellation Energy next to 3 stocks of the sector Utilities we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| DUK Duke Energy | 31.7B USD | +6.2% | – | 27.2% | 15.7% | 9.6% | 26.5% | −5.3% | – |
| SO Southern Company | 29.6B USD | +7.7% | – | 24.7% | 14.7% | 12.1% | 23.1% | −9.9% | – |
| NEE NextEra Energy | 25.8B USD | +8.7% | – | 32.1% | 26.5% | 12.5% | 25.7% | – | – |
| CEG Constellation Energy this stock | 25.5B USD | +7.7% | – | 12.1% | 9.1% | 16.0% | 25.4% | 5.0% | – |
| Median of the sector 4 symbols | too few stocks for a median (at least 5) | ||||||||
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 31 symbols in the Utilities sector on our list (current members of the S&P 500 and other lists).
+7.7% per year, last 5 years
Sector Utilities: median +6.5% (31 symbols)
What does this mean? Revenue: over 5 years it grew by 7.7% per year on average – at least as fast as the median company in the sector (+6.5%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
+31.5% per year, last 5 years
Sector Utilities: median +7.2% (27 symbols)
per share: not computable (loss in the first or last year)
What does this mean? Total net income: over 5 years it grew by 31.5% per year on average – at least as fast as the median company in the sector (+7.2%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
9.1% last fiscal year
Sector Utilities: median 13.7% (29 symbols)
What does this mean? Of every 100 USD in revenue, 9.08 USD remained as profit – less than the median company in the sector (13.7%). Five years ago the margin was 3.3%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.60 latest balance sheet
Sector Utilities: median 1.55 (30 symbols)
What does this mean? For every 1 USD of equity there is 0.60 USD of financial debt – no more than the median company in the sector (1.55). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
5% Dividend / earnings per share
Sector Utilities: median 62% (29 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.05 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 62%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
4 of 6 fiscal years with a profit
What does this mean? In 4 of the last 6 fiscal years the bottom line showed a profit. 2 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 25.5B | 2.3B | 9.1% | 7.40 | 0.39 | 5% |
| 2024 | Dec 31, 2024 | 23.6B | 3.7B | 15.9% | 11.89 | 0.35 | 3% |
| 2023 | Dec 31, 2023 | 24.9B | 1.6B | 6.5% | 5.01 | 0.28 | 6% |
| 2022 | Dec 31, 2022 | 24.4B | −160.0M | −0.7% | −0.49 | 0.14 | – |
| 2021 | Dec 31, 2021 | 19.6B | −205.0M | −1.0% | 0.00 | – | – |
| 2020 | Dec 31, 2020 | 17.6B | 589.0M | 3.3% | 0.00 | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 7.5B | 513.0M | 6.8% | 1.42 | 0.43 | 30% |
| Q1/26 | Mar 31, 2026 | 11.1B | 1.6B | 14.3% | 4.49 | 0.43 | 9% |
| Q4/25* | Dec 31, 2025 | 6.1B | 432.0M | 7.1% | – | – | – |
| Q3/25 | Sep 30, 2025 | 6.6B | 930.0M | 14.2% | 2.97 | 0.39 | 13% |
| Q2/25 | Jun 30, 2025 | 6.1B | 839.0M | 13.8% | 2.67 | 0.39 | 15% |
| Q1/25 | Mar 31, 2025 | 6.8B | 118.0M | 1.7% | 0.38 | 0.39 | 102% |
| Q4/24* | Dec 31, 2024 | 5.4B | 852.0M | 15.8% | – | – | – |
| Q3/24 | Sep 30, 2024 | 6.6B | 1.2B | 18.3% | 3.82 | 0.35 | 9% |
| Q2/24 | Jun 30, 2024 | 5.5B | 814.0M | 14.9% | 2.58 | 0.35 | 14% |
| Q1/24 | Mar 31, 2024 | 6.2B | 883.0M | 14.3% | 2.78 | 0.35 | 13% |
| Q4/23* | Dec 31, 2023 | 5.8B | −37.0M | −0.6% | – | – | – |
| Q3/23 | Sep 30, 2023 | 6.1B | 731.0M | 12.0% | 2.26 | 0.28 | 12% |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $417.9K1 person | $00 people | +$417.9K |
| 6 months | $417.9K1 person | $00 people | +$417.9K |
| 12 months | $417.9K1 person | $00 people | +$417.9K |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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