Friday 6 November 2026
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Dominion Energy Inc.
D Utilities Utilities Regulated Electric
Dominion Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.5 billion, up 14.2% from fiscal 2024.
- Revenue
- +24.1%
- EPS
- +12.1%
- Free cash flow
- +50.1%
- Total debt
- +12.6%
Quarter to September 2026, against a year earlier
69.72
0.03
−0.04%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 11,737 | 12,586 | 11,199 | 14,401 | 14,172 | 11,419 | 13,938 | 14,393 | 14,459 | 16,506 | 19,209 | +3.9% | 18,265 | 19,500 | 20,844 | +8.1% | |
| Gross margin, % | 75.37 | 76.10 | 69.52 | 68.52 | 77.53 | 75.22 | 69.90 | 70.30 | 72.70 | 70.51 | 66.92 | (4.9) pt | ||||||
| EBT | 2,867 | 3,090 | 2,619 | 869 | 1,411 | 1,880 | 328 | 2,731 | 2,195 | 3,611 | 3,358 | +2.6% | ||||||
| EBT margin, % | 24.43 | 24.55 | 23.39 | 6.03 | 9.96 | 16.46 | 2.35 | 18.97 | 15.18 | 21.88 | 17.48 | (2.5) pt | ||||||
| Net income | 2,212 | 3,120 | 2,549 | 1,376 | (550) | 3,419 | 1,191 | 1,962 | 1,981 | 3,065 | 2,900 | +3.7% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 19.04 | 19.79 | 17.12 | 17.81 | 17.05 | 14.14 | 16.92 | 17.21 | 17.23 | 19.33 | 21.84 | +0.2% | |||||
| Earnings | 3.44 | 4.93 | 3.74 | 1.73 | (0.57) | 3.98 | 1.33 | 2.29 | 2.44 | 3.45 | 3.01 | 0.0% | ||||||
| Cash flow | 6.73 | 7.08 | 7.30 | 6.43 | 6.29 | 5.00 | 4.49 | 7.86 | 5.98 | 6.28 | 6.45 | (0.8%) | ||||||
| Capex | (9.87) | (8.65) | (6.50) | (6.16) | (7.24) | (7.38) | (9.21) | (12.21) | (14.54) | (14.80) | (13.60) | +4.6% | ||||||
| Free cash flow | (3.14) | (1.58) | 0.79 | 0.28 | (0.95) | (2.38) | (4.72) | (4.35) | (8.56) | (8.52) | (7.15) | +11.7% | ||||||
| Book value | 27.32 | 30.46 | 33.70 | 42.08 | 31.84 | 35.80 | 33.57 | 32.96 | 35.51 | 39.13 | 39.13 | +4.1% | ||||||
| Shares, m | 616 | 636 | 654 | 809 | 831 | 808 | 824 | 836 | 839 | 854 | 873 | +3.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 22.17 | 16.35 | 19.11 | 48.15 | 0.00 | 19.74 | 57.77 | 20.82 | 22.63 | 17.03 | 23.16 | 24.4 | |||||
| P/S | 4.00 | 4.06 | 4.17 | 4.65 | 4.41 | 5.56 | 3.72 | 2.82 | 3.13 | 3.03 | 3.19 | 4.0 | ||||||
| P/B | 2.79 | 2.64 | 2.12 | 2.12 | 2.60 | 2.49 | 2.01 | 1.57 | 1.57 | 1.54 | 1.83 | 2.1 | ||||||
| EV/Sales | 6.97 | 7.01 | 7.29 | 6.89 | 7.01 | 9.09 | 6.68 | 5.88 | 5.99 | 5.98 | 6.01 | 6.9 | ||||||
| EV/FCF | (42.31) | (88.09) | 157.33 | 442.67 | (125.26) | (53.96) | (23.93) | (23.26) | (12.07) | (13.56) | (18.38) | 21.8 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 4,151 | 4,502 | 4,773 | 5,204 | 5,227 | 4,037 | 3,700 | 6,572 | 5,018 | 5,361 | 5,675 | +2.9% | |||||
| Capex | (6,085) | (5,504) | (4,254) | (4,980) | (6,020) | (5,960) | (7,591) | (10,211) | (12,198) | (12,641) | (11,962) | +8.5% | ||||||
| Free cash flow | (1,934) | (1,002) | 519 | 224 | (793) | (1,923) | (3,891) | (3,639) | (7,180) | (7,280) | (6,287) | +15.9% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | (3,867) | (5,302) | (2,486) | (3,844) | (3,957) | (1,404) | (3,600) | 959 | (2,676) | (2,373) | (1,386) | (5.3%) | |||||
| Net debt | 34,834 | 37,204 | 34,907 | 32,174 | 36,842 | 40,298 | 41,225 | 44,059 | 41,440 | 48,691 | 54,211 | +3.8% | ||||||
| Shareholders’ equity | 16,840 | 19,370 | 22,048 | 34,033 | 26,461 | 28,918 | 27,659 | 27,567 | 29,802 | 33,417 | 34,415 | +7.9% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 3.26 | 4.05 | 3.17 | 1.49 | (0.40) | 3.48 | 1.17 | 1.83 | 1.92 | 2.75 | 2.27 | (0.5) pt | |||||
| ROIC | 4.17 | 4.35 | 3.31 | 1.46 | 2.03 | 1.80 | 1.31 | 2.98 | 2.85 | 3.36 | 3.05 | (0.8) pt | ||||||
| ROE | 13.95 | 16.56 | 11.82 | 5.06 | (1.44) | 13.71 | 4.63 | 7.60 | 7.45 | 9.79 | 8.38 | (4.2) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 16,200 | 16,200 | 21,300 | 19,100 | 17,300 | 17,100 | 17,200 | 17,700 | 14,700 | 15,200 | — | (0.7%) | |||||
| Revenue/emp, $m | 0.72 | 0.78 | 0.53 | 0.75 | 0.82 | 0.67 | 0.81 | 0.81 | 0.98 | 1.09 | — | +4.6% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Dominion Energy Virginia | 11,840 | 71.73% |
|---|---|---|
| DESC | 3,578 | 21.68% |
| Contracted Energy | 1,179 | 7.14% |
| Corporate and Other | 1,172 | 7.10% |
| Gross margin | 70.51% | |
| Operating margin | 26.74% | |
| Pre-tax margin | 21.88% |
Dominion Energy Inc. vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| DUK Duke Energy Corporation | $101.4B | 19.1× | 18.9× | +6.58% (above 0%: growing) | +9.94% (above 0%: growing) | −496.09% (below 0%: shrinking) | 0.00% | 30.17% | Compare |
| NGG National Grid Transco, PLC | $86.4B | 23.5× | 13.9× | +10.37% (above 0%: growing) | +115.14% (above 0%: growing) | −2,663.95% (below 0%: shrinking) | 23.34% | 0.00% | Compare |
| AEP American Electric Power Company, Inc. | $69.0B | 20.3× | 20.1× | +13.66% (above 0%: growing) | +22.92% (above 0%: growing) | −376.09% (below 0%: shrinking) | 69.45% | 26.52% | Compare |
| D Dominion Energy Inc. | $61.3B | 23.2× | 22.5× | +24.08% (above 0%: growing) | +12.07% (above 0%: growing) | +50.09% (above 0%: growing) | 68.86% | 32.79% | |
| ETR Entergy Corporation | $52.7B | 25.0× | 25.0× | +14.51% (above 0%: growing) | +29.75% (above 0%: growing) | −295.69% (below 0%: shrinking) | 72.75% | 33.93% | Compare |
| XEL Xcel Energy Inc. | $51.6B | 18.6× | 19.5× | +6.56% (above 0%: growing) | +71.48% (above 0%: growing) | +5.89% (above 0%: growing) | 72.99% | 28.55% | Compare |
| EXC Exelon Corporation | $48.2B | 18.1× | 16.2× | +9.16% (above 0%: growing) | −18.60% (below 0%: shrinking) | −410.43% (below 0%: shrinking) | 60.14% | 18.84% | Compare |
| ED Consolidated Edison Inc | $44.8B | 19.4× | 18.2× | +8.45% (above 0%: growing) | +8.38% (above 0%: growing) | +237.96% (above 0%: growing) | 0.00% | 23.81% | Compare |
| WEC WEC Energy Group, Inc. | $38.9B | 21.3× | 20.7× | +8.87% (above 0%: growing) | +41.67% (above 0%: growing) | +86.39% (above 0%: growing) | 71.57% | 24.61% | Compare |
| Median of peers | $52.1B | 19.8× | 19.2× | +9.02% | +26.34% | −335.89% | 64.80% | 25.57% |
From the latest earnings call
- CFO Steven Ridge said Dominion continues to see data-center demand in Virginia and is using a state-approved framework intended to protect existing customers from cost shifts.
- CEO Robert Blue said Coastal Virginia Offshore Wind had used some schedule contingency after weather and vessel maintenance slowed installation, but its completion outlook remained unchanged.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
80.74%
Held by the ten largest
49.85%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 112.19m | 12.76% | +2.25m |
| Capital Group | 73.87m | 8.40% | +24.88m |
| BlackRock | 73.02m | 8.30% | −8.00m |
| State Street | 50.92m | 5.79% | +1.70m |
| Wellington Management | 40.87m | 4.65% | −6.73m |
| MFS Investment Management | 20.03m | 2.28% | −6.59m |
| Geode Capital Management | 19.79m | 2.25% | +731.89k |
| Dodge & Cox | 18.30m | 2.08% | −1.17m |
| JPMorgan Chase | 14.88m | 1.69% | −7.49m |
| Bank of America | 14.60m | 1.66% | −1.33m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Dominion Energy Inc. (D) Latest News
3 Nov
2 Nov
30 Oct
28 Oct
26 Oct
23 Oct
21 Oct
17 Oct
16 Oct
D metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Dominion Energy supplies electricity to homes, businesses, governments and other customers, principally through regulated utilities. Its operations span electricity generation, transmission over high-voltage lines and distribution to customers over local networks. It also distributes natural gas in South Carolina and operates electricity generation businesses outside its regulated utilities.
The company is headquartered in Richmond, Virginia, and was incorporated in Virginia in 1983. Robert Blue is its chair, president and chief executive officer. At December 31, 2025, Dominion had approximately 15,200 full-time employees.