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Duke Energy Corporation

DUK Utilities Utilities Regulated Electric

Duke Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $32.2 billion, up 6.19% from fiscal 2024.

Revenue
+6.58%
EPS
+9.94%
Free cash flow
−496.1%
Total debt
+5.48%

Quarter to September 2026, against a year earlier

130.38 0.79 +0.61%
Market cap
$101.4B
P/E
19.1×
Fwd P/E
18.9×
Dividend yield
3.28%
F-score
7/9
Altman Z
0.67
Beneish M
−2.79
Dividend safety
32/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2022

  • Electric Utilities and Infrastructure
  • Gas Utilities and Infrastructure
  • Other

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 6.38
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 4 — — 2 — — — — 1 —
Insider Ownership 0.17%

Capital & Financial Ratios $m

Size
Market Cap 101,420.00
Revenue ttm 33,812.00
Net income ttm 5,578.00
Free cash flow ttm (5,162.00)
Net debt Q 89,997.00
Valuation
P/E 19.06
Forward P/E 18.90
Price / sales 3.01
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.82
Financial health
Current ratio Q 0.68 (below 1: weak)
Debt / equity Q 1.57
Interest coverage Q 2.14
Growth
Revenue growth Q +6.58% (above 0%: growing)
Operating income growth Q +17.69% (above 0%: growing)
EPS, this year +6.59%
EPS, next year A +6.55%
Revenue, next year A +4.71%
EPS, past 5 yrs +29.69% (at or above 15%: strong)
EPS, next 5 yrs A +6.70%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.7×, against a ten-year median of 5.1×; over the ten years it ranged from 4.0× in 2016 to 6.0× in 2021.
P/E against its own 10 years 20.43%
10-year low 10-year high
P/S against its own 10 years 79.90%
10-year low 10-year high
P/B against its own 10 years 92.67%
10-year low 10-year high
EV/Sales against its own 10 years 81.55%
10-year low 10-year high

Dividends raised every year since 2018

Yield
3.28%
Annual rate
4.28
Payout ratio
62.6%
Growth, 2018–26
+2.12%/yr
  1. 3.64 ’18
  2. 3.75 ’19 +3
  3. 3.82 ’20 +2
  4. 3.90 ’21 +2
  5. 3.98 ’22 +2
  6. 4.06 ’23 +2
  7. 4.14 ’24 +2
  8. 4.22 ’25 +2
  9. 4.30 ’26 +2
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 253 314 245 451
Receivables 4,131 4,610 4,230 —
Inventory 4,292 4,496 4,569 4,734
Other 4,093 3,530 2,569 —
12,769 12,950 11,613 13,386
2023 2024 2025 Q'26
Payables 4,228 5,436 5,223 5,018
ST’ Debt 2,800 4,349 7,104 6,116
Other 4,406 4,283 4,199 4,168
17,283 19,357 21,047 19,645

Compound Annual Growth %

10y 5y 3y
Sales 3.72% 6.65% 3.87%
Cash Flow 6.29% 6.84% 27.66%
Earnings 5.72% 31.07% 26.20%
Book Value 2.92% 1.51% 0.74%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 1.29 Actual 1.43

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.74 1.81 Beat by 0.07
Q4 FY25 1.51 1.50 Miss by 0.01
Q1 FY26 1.79 1.93 Beat by 0.14
Q2 FY26 1.29 1.43 Beat by 0.14
Q3 FY26 1.87 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 1.97 1.38 1.99 — —
’25 1.76 1.25 1.81 1.50 6.31
’24 1.44 1.13 1.60 1.54 5.71
’23 1.01 (0.32) 1.59 1.27 3.54
’22 1.08 1.14 1.81 (0.71) 3.33
’21 1.25 0.96 1.79 0.93 4.94
’20 1.24 (1.13) 1.74 (0.12) 1.72
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 9,178 7,592 9,104 — —
’25 8,249 7,508 8,542 7,938 32,237
’24 7,671 7,172 8,154 7,360 30,357
’23 7,276 6,578 7,994 7,212 29,060
’22 7,011 6,564 7,842 7,351 28,768
’21 6,150 5,758 6,951 5,762 24,621
’20 5,949 5,421 6,721 5,275 23,366
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,512 2,760 3,617 — —
’25 2,177 2,863 3,632 3,658 12,330
’24 2,474 2,953 3,524 3,377 12,328
’23 1,483 2,302 3,524 2,569 9,878
’22 1,795 2,240 1,153 739 5,927
’21 2,088 1,785 3,354 1,063 8,290
’20 1,554 1,803 3,409 2,090 8,856
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (2,576) (1,392) (709) — —
’25 (971) (417) 179 (485) (1,694)
’24 (734) (43) 537 288 48
’23 (1,663) (817) 479 (725) (2,726)
’22 (756) (326) (1,878) (2,480) (5,440)
’21 (127) (636) 901 (1,563) (1,425)
’20 (1,278) (468) 1,104 (409) (1,051)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 23.3% a year for ten years.

Implied
23.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten 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 22,743 23,565 24,521 25,079 23,366 24,621 28,768 29,060 30,357 32,237 33,812 +4.0% 33,756 35,281 37,085 +4.8%
Gross margin, % 69.70 70.37 69.30 70.28 72.13 71.73 65.04 66.69 67.81 71.95 0.00 +2.3 pt
EBT 3,734 4,266 3,073 4,097 920 3,991 4,078 4,767 5,194 5,712 6,509 +4.8%
EBT margin, % 16.42 18.10 12.53 16.34 3.94 16.21 14.18 16.40 17.11 17.72 19.25 +1.3 pt
Net income 2,170 3,064 2,644 3,571 1,082 3,579 2,455 2,874 4,614 5,071 5,578 +9.9%
Per share, $
Per share, $ Revenue 32.91 33.66 34.63 34.40 31.70 32.02 37.36 37.69 39.32 41.49 43.35 +2.6%
Earnings 3.11 4.36 3.76 5.06 1.72 4.94 3.33 3.54 5.71 6.31 6.84 +8.2%
Cash flow 9.93 9.46 10.15 11.26 12.02 10.78 7.70 12.81 15.97 15.87 14.80 +5.3%
Capex (11.43) (11.50) (13.26) (15.26) (13.44) (12.63) (14.76) (16.35) (15.91) (18.05) (21.42) +5.2%
Free cash flow (1.50) (2.04) (3.11) (4.00) (1.43) (1.85) (7.06) (3.54) 0.06 (2.18) (6.62) +4.2%
Book value 59.39 59.62 61.91 65.78 66.74 66.50 67.34 65.09 66.39 68.24 73.77 +1.6%
Shares, m 691 700 708 729 737 769 770 771 772 777 779 +1.3%
Valuation, ×
Valuation, × P/E 24.83 19.09 23.01 17.99 52.92 21.28 31.23 27.55 18.87 18.55 19.06 25.5
P/S 2.36 2.47 2.49 2.65 2.89 3.28 2.78 2.60 2.74 2.83 3.01 2.7
P/B 1.31 1.40 1.39 1.45 1.43 1.64 1.60 1.56 1.65 1.75 1.82 1.5
EV/Sales 4.45 4.68 4.70 4.96 5.44 5.86 5.19 5.18 5.39 5.52 5.67 5.1
EV/FCF (97.51) (77.16) (52.29) (42.67) (120.92) (101.17) (27.42) (55.18) 3,407.30 (105.10) (37.14) 272.8
Cash, $m
Cash, $m Operating cash flow 6,863 6,624 7,186 8,209 8,856 8,290 5,927 9,878 12,328 12,330 11,547 +6.7%
Capex (7,901) (8,052) (9,389) (11,122) (9,907) (9,715) (11,367) (12,604) (12,280) (14,024) (16,709) +6.6%
Free cash flow (1,038) (1,428) (2,203) (2,913) (1,051) (1,425) (5,440) (2,726) 48 (1,694) (5,162) +5.6%
Balance, $m
Balance, $m Working capital (3,512) (4,029) (5,327) (5,589) (7,623) (5,991) (5,651) (4,514) (6,407) (9,434) (6,259) +11.6%
Net debt 47,503 51,921 54,087 57,815 59,604 63,494 69,342 74,999 80,375 86,967 89,997 +7.0%
Shareholders’ equity 41,041 41,737 43,834 47,951 49,184 51,136 51,853 50,187 51,256 53,019 57,542 +2.9%
Returns, %
Returns, % ROA 1.70 2.26 1.88 2.44 0.79 2.29 1.41 1.54 2.42 2.57 2.69 +0.9 pt
ROIC 3.67 3.75 2.99 3.37 2.63 3.00 3.10 3.53 3.76 3.85 4.08 +0.2 pt
ROE 5.33 7.39 6.23 8.25 2.73 7.89 4.93 5.58 8.94 9.60 0.00 +4.3 pt
People
People Employees 28,798 29,060 30,083 28,793 27,535 27,605 27,859 27,037 26,413 26,441 — (0.9%)
Revenue/emp, $m 0.79 0.81 0.82 0.87 0.85 0.89 1.03 1.07 1.15 1.22 — +4.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Duke Energy is an energy company headquartered in Charlotte, North Carolina. It operates primarily through regulated utility subsidiaries, including Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont. Harry K. Sideris is President and Chief Executive Officer.

The company’s principal business is providing electricity and natural gas under state and federal utility regulation. Its electric utilities generate or buy power, move it over high-voltage transmission networks, distribute it through local wires, and sell it to homes, businesses, industrial facilities, municipalities and other power providers. Its gas utilities transport and distribute natural gas to residential, commercial, industrial and power-generation customers.

Where the money comes from and where it goes Fiscal 2022

Fiscal 2022: revenue by segment, and margins
Electric Utilities and Infrastructure 25,888 89.99%
Gas Utilities and Infrastructure 2,757 9.58%
Other 30 0.10%
Gross margin 65.04%
Operating margin 20.90%
Pre-tax margin 14.18%

Revenue by segment since 2009

Duke Energy Corporation 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
NEE NextEra Energy, Inc. $185.1B 15.9× 20.5× +1.56% (above 0%: growing) +93.22% (above 0%: growing) −86.32% (below 0%: shrinking) 79.00% 32.44% Compare
SO Southern Company (The) $107.4B 21.2× 21.3× +13.04% (above 0%: growing) +14.19% (above 0%: growing) +362.13% (above 0%: growing) 0.00% 33.93% 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%
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% Compare
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
Median of peers $65.1B 20.8× 20.3× +11.70% +26.34% −191.00% 69.16% 30.50%

All 39 Utilities Regulated Electric stocks →

From the latest earnings call

Updated

  • CEO Harry Sideris said Duke is building generation capacity to meet growing demand and would require financial protections before proposing a new nuclear project.
  • CFO Brian Savoy said Duke had secured 7.8 gigawatts of electric service agreements with data centers and expected customers to begin taking energy in 2027 and 2028.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 69.58%
Held by the ten largest 35.91%
Holder Shares Stake Change
Vanguard 79.92m 10.25% +821.88k
BlackRock 70.54m 9.05% +1.22m
State Street 44.95m 5.77% +420.95k
Geode Capital Management 20.37m 2.61% +319.58k
Morgan Stanley 13.11m 1.68% +427.63k
MFS Investment Management 12.74m 1.63% −1.65m
Franklin Templeton 10.55m 1.35% +167.00k
Fidelity (FMR) 9.70m 1.24% −1.05m
Charles Schwab 9.23m 1.18% +121.58k
Bank of America 8.87m 1.14% −480.94k
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.

Pay and ownership Proxy statement filed 20 March 2026

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 10.00%
BlackRock Inc. 7.52%
State Street Corporation State Street Financial Center One Lincoln Street Boston, MA 5.42%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Duke Energy Corporation (DUK) Latest News

5 Nov

Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript
Impact 3 · · Zacks

29 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Zacks

28 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Trefis

27 Oct

Impact 3 · · Trefis
Impact 3 · · Barchart

26 Oct

Impact 3 · · Insider Monkey
Impact 3 · · Trefis

22 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · 24/7 Wall St.

21 Oct

Impact 3 · · PR Newswire
Impact 3 · · Zacks

20 Oct

Impact 4 · · Zacks

19 Oct

Impact 4 · · TIKR
Impact 3 · · Trefis

18 Oct

Impact 4 · · Insider Monkey

16 Oct

Impact 4 · · TIKR
Impact 3 · · TIKR
Impact 3 · · 24/7 Wall St.

14 Oct

Impact 3 · · Zacks

13 Oct

Impact 4 · · Zacks
Impact 3 · · PR Newswire

10 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · PR Newswire

9 Oct

Impact 3 · · PR Newswire

DUK metrics, ten years each

stockrow.com/DUK · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com