Operating margin
27.2% Fiscal year 2025
Rank 72 of 100: higher than 72% of 192 peers (All). strong.
Sector: too few peers
Operating income divided by revenue: what the core business earns before interest and taxes.
Duke Energy is a US utility based in Charlotte. The company generates electricity, including in nuclear plants, and supplies customers in the Carolinas, Florida, Indiana, Ohio and Kentucky with power and in part with gas. As of Oct 13, 2026
Duke Energy is an energy company based in Charlotte, North Carolina, that is subject to the oversight of the FERC and other authorities. Its subsidiaries include Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont. The group is divided into a segment for electricity and one for gas, each with utilities and infrastructure. The electricity division also operates nuclear plants under NRC oversight. The gas division distributes natural gas to households, businesses and industry and competes with electric utilities as well as propane and heating oil dealers, among others.
Automatically summarized from SEC annual report (10-K, filed Feb 26, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Calculated automatically by fixed rules – not investment advice, check for yourself. How we analyze
Our own calculation from the exchange’s daily candles, as of Oct 27, 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.
Duke Energy · Sector Utilities · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 26, 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
27.2% Fiscal year 2025
Rank 72 of 100: higher than 72% of 192 peers (All). strong.
Sector: too few peers
Operating income divided by revenue: what the core business earns before interest and taxes.
15.7% Fiscal year 2025
Rank 57 of 100: higher than 57% of 237 peers (All). medium.
Sector: too few peers
Profit after all costs, interest and taxes divided by revenue.
9.6% Fiscal year 2025
Rank 30 of 100: higher than 30% of 218 peers (All). weak.
Sector: too few peers
Net income divided by equity at fiscal year end.
2.5% Fiscal year 2025 (total assets at year end)
Rank 28 of 100: higher than 28% of 238 peers (All). weak.
Sector: too few peers
Net income divided by total assets at fiscal year end.
26.5% Fiscal year 2025
Rank 38 of 100: higher than 38% of 239 peers (All). medium.
Sector: too few peers
Equity as a share of total assets. Usually low for banks.
−5.3% Fiscal year 2025
Rank 18 of 100: higher than 18% of 213 peers (All). weak.
Sector: too few peers
Free cash flow divided by revenue.
−1.7B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
+3.4% per year
Rank 28 of 100: higher than 28% of 230 peers (All). weak.
Sector: too few peers
Average growth per year over 3 fiscal years.
+6.2% per year
Rank 25 of 100: higher than 25% of 217 peers (All). weak.
Sector: too few peers
Average growth per year over 5 fiscal years.
+3.1% per year
Rank 25 of 100: higher than 25% of 157 peers (All). weak.
Sector: too few peers
Average growth per year over 10 fiscal years.
+25.8% per year
Rank 78 of 100: higher than 78% of 157 peers (All). strong.
Sector: too few peers
Growth of earnings per share per year, adjusted for stock splits.
+29.7% per year
Rank 84 of 100: higher than 84% of 146 peers (All). strong.
Sector: too few peers
Growth of earnings per share per year, adjusted for stock splits.
+4.5% per year
Rank 25 of 100: higher than 25% of 140 peers (All). weak.
Sector: too few peers
Growth of earnings per share per year, adjusted for stock splits.
67% Fiscal year 2025
Dividend per share divided by earnings per share.
+2.0% per year
Rank 8 of 100: higher than 8% of 118 peers (All). weak.
Sector: too few peers
Growth of the dividend per share per year.
−0.5x Fiscal year 2025
Free cash flow per share divided by dividend per share. From 1x the dividend is covered.
5 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.
1.68 at fiscal year end
Rank 16 of 100: lower than 16% of 199 peers (All). weak.
Sector: too few peers
Long-term financial debt divided by equity.
0.55 at fiscal year end
Rank 3 of 100: higher than 3% of 215 peers (All). weak.
Sector: too few peers
Current assets divided by current liabilities.
+5.3% in 5 years
Rank 30 of 100: lower than 30% of 199 peers (All). weak.
Sector: too few peers
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 31.7B USD · Net income 5.0B USD · Net margin 15.7%
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, 27.2 USD operating income and 15.7 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 31.7B USD | 100.0% |
| Operating income | 8.6B USD | 27.2% |
| Cost of revenue and operating expenses | 23.1B USD | 72.8% |
| Net income | 5.0B USD | 15.7% |
| Interest expense | 3.6B USD | 11.4% |
| Taxes & other (net) | 24.0M USD | 0.1% |
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 19.4% to 27.2%.
Gross marginOperating marginNet marginReturn on equity rose in 5 years from 2.9% to 9.6%.
Return on equityReturn on assetsThe equity ratio fell in 5 years from 29.5% to 26.5%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.The current ratio stayed roughly the same in 5 years (0.55).
Current ratioFree cash flow fell in 5 years from −1.1B USD to −1.7B USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count rose in 5 years by 5.3% – more new shares were issued than repurchased (dilution).
Diluted share countFrom 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.
The dividend per share rose in 5 years from 3.82 USD to 4.22 USD.
Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.The payout ratio fell in 5 years from 222.1% to 66.9%.
Payout ratio (earnings)Dividends 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
Duke 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 this stock | 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 | 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).
+6.2% per year, last 5 years
Sector Utilities: median +6.5% (31 symbols)
What does this mean? Revenue: over 5 years it grew by 6.2% per year on average, but more slowly than 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.
+29.3% per year, last 5 years
Sector Utilities: median +7.2% (27 symbols)
per share: +29.7% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 29.3% 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.
15.7% last fiscal year
Sector Utilities: median 13.7% (29 symbols)
What does this mean? Of every 100 USD in revenue, 15.65 USD remained as profit – at least as much as the median company in the sector (13.7%). Five years ago the margin was 5.9%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
1.48 latest balance sheet
Sector Utilities: median 1.55 (30 symbols)
What does this mean? For every 1 USD of equity there is 1.48 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.
67% Dividend / earnings per share
Sector Utilities: median 62% (29 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.67 USD went to shareholders as a dividend. Little buffer remains for weaker years. 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.
10 of 10 fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
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 | 31.7B | 5.0B | 15.7% | 6.31 | 4.22 | 67% |
| 2024 | Dec 31, 2024 | 30.1B | 4.5B | 15.1% | 5.71 | 4.14 | 73% |
| 2023 | Dec 31, 2023 | 28.7B | 2.8B | 9.9% | 3.54 | 4.06 | 115% |
| 2022 | Dec 31, 2022 | 28.7B | 2.6B | 8.9% | 3.17 | 3.98 | 126% |
| 2021 | Dec 31, 2021 | 24.7B | 3.9B | 15.8% | 4.94 | 3.90 | 79% |
| 2020 | Dec 31, 2020 | 23.5B | 1.4B | 5.9% | 1.72 | 3.82 | 222% |
| 2019 | Dec 31, 2019 | 24.3B | 3.7B | 15.4% | 5.06 | 3.75 | 74% |
| 2018 | Dec 31, 2018 | 23.8B | 2.7B | 11.2% | 3.76 | 3.64 | 97% |
| 2017 | Dec 31, 2017 | – | 3.1B | – | 4.36 | 3.49 | 80% |
| 2016 | Dec 31, 2016 | 22.7B | 2.2B | 9.5% | 3.11 | 3.36 | 108% |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q1/26 | Mar 31, 2026 | 9.0B | 1.6B | 17.2% | 1.97 | 1.07 | 54% |
| Q4/25* | Dec 31, 2025 | 7.8B | 1.2B | 15.2% | – | 1.07 | – |
| Q3/25 | Sep 30, 2025 | 8.4B | 1.4B | 17.0% | 1.81 | 1.07 | 59% |
| Q2/25 | Jun 30, 2025 | 7.4B | 984.0M | 13.3% | 1.25 | 1.05 | 84% |
| Q1/25 | Mar 31, 2025 | 8.2B | 1.4B | 16.8% | 1.76 | 1.05 | 59% |
| Q4/24* | Dec 31, 2024 | 7.2B | 1.2B | 16.6% | – | 1.05 | – |
| Q3/24 | Sep 30, 2024 | 8.1B | 1.3B | 15.8% | 1.60 | 1.05 | 65% |
| Q2/24 | Jun 30, 2024 | 7.2B | 900.0M | 12.6% | 1.13 | 1.03 | 91% |
| Q1/24 | Mar 31, 2024 | 7.5B | 1.1B | 15.1% | 1.44 | 1.03 | 71% |
| Q4/23* | Dec 31, 2023 | 7.1B | 996.0M | 14.0% | 1.27 | 1.03 | 81% |
| Q3/23 | Sep 30, 2023 | 8.0B | 1.3B | 15.7% | 1.59 | 1.03 | 64% |
| Q2/23 | Jun 30, 2023 | 6.5B | −220.0M | −3.4% | −0.32 | – | – |
* 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 | $00 people | $00 people | $0 |
| 6 months | $00 people | $2.9M2 people | −$2.9M |
| 12 months | $00 people | $9.6M6 people | −$9.6M |
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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