Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Constellation Energy

CEG stock analysis · Utilities · Electric Utilities

FY 2025-12-31ANNUAL FILINGS
Compare ⇄
These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$248.37HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$88.2B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$55.11

Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -77.8% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

45.8%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-38.9%

14 industry peers · median 23.2×

How this is calculated ↗
Valuation

Historical multiples

38.0×

3 annual observations · snapshot P/E 38.0× · 0.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

1.5%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

12.4%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

34/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

8.2%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-3.5%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

14.0%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 5.3B2020-12-31: cfo $584,000,000.002020-12-31: capex $1,747,000,000.0020202021-12-31: cfo -$1,338,000,000.00 (negative; lower scale compressed)2021-12-31: capex $1,329,000,000.0020212022-12-31: cfo -$2,353,000,000.00 (negative; lower scale compressed)2022-12-31: capex $1,689,000,000.0020222023-12-31: cfo -$5,301,000,000.00 (negative; lower scale compressed)2023-12-31: capex $2,422,000,000.0020232024-12-31: cfo -$2,464,000,000.00 (negative; lower scale compressed)2024-12-31: capex $2,565,000,000.0020242025-12-31: cfo $4,237,000,000.002025-12-31: capex $2,949,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$69.12$75.42$82.19
10.0%$50.65$55.11$59.89
12.0%$39.96$43.36$47.01

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3122.7B2.3B4.2B2.9B57.2B
2024-12-3119B3.7B-2.5B2.6B52.9B
2023-12-3120.8B1.6B-5.3B2.4B50.8B
2022-12-3121.6B-167M-2.4B1.7B46.9B
2021-12-3117.3B-83M-1.3B1.3B48.1B
2020-12-3116.4B579M584M1.7B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue22.7BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-24
netIncome2.3BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-24
Parent/common earnings proxy2.3BNetIncomeLoss2026-02-24
cfo4.2BNetCashProvidedByUsedInOperatingActivities2026-02-24
capex2.9BPaymentsToAcquirePropertyPlantAndEquipment2026-02-24
operatingIncome3.1BOperatingIncomeLoss2026-02-24
assets57.2BAssets2026-02-24
equity14.9BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-24
Parent book equity proxy14.5BStockholdersEquity2026-02-24
debt7.4BLongTermDebt2026-02-24
shortDebt1.7BShortTermBorrowings2026-02-24
cash3.6BCashAndCashEquivalentsAtCarryingValue2026-02-24
shares314MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-24
dividends486MPaymentsOfDividendsCommonStock2026-02-24
buybacks400MPaymentsForRepurchaseOfCommonStock2026-02-24
issuanceNot reported under a supported tag