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NextEra Energy, Inc.

NEE Utilities Utilities Regulated Electric

NextEra Energy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $27.4 billion, up 10.7% from fiscal 2024.

Revenue
+1.56%
EPS
+93.2%
Free cash flow
−86.3%
Total debt
+22.3%

Quarter to September 2026, against a year earlier

88.20 0.25 −0.28%
Market cap
$185.1B
P/E
15.9×
Fwd P/E
20.5×
Dividend yield
2.76%
F-score
6/9
Altman Z
1.12
Beneish M
−2.44
Dividend safety
35/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2012

  • FPL Segment
  • NextEra Energy Resources
  • Corporate and Other

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 18.83
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 1 4 3 — — — — — — — 1
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 185,090.00
Revenue ttm 28,824.00
Net income ttm 9,770.00
Free cash flow ttm (18,011.00)
Net debt Q 108,353.00
Valuation
P/E 15.89
Forward P/E 20.50
Price / sales 6.39
Forward P/S Powerpack
Price / FCF 0.00
Price / book 2.53
Financial health
Current ratio Q 0.53 (below 1: weak)
Debt / equity Q 1.56
Interest coverage Q (1.36)
Growth
Revenue growth Q +1.56% (above 0%: growing)
Operating income growth Q +3.84% (above 0%: growing)
EPS, this year +8.50%
EPS, next year A +8.95%
Revenue, next year A +11.60% (at or above 10%: strong)
EPS, past 5 yrs +17.40% (at or above 15%: strong)
EPS, next 5 yrs A +8.66%

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 10.2×, against a ten-year median of 8.7×; over the ten years it ranged from 4.5× in 2016 to 13.9× in 2021.
P/E against its own 10 years 15.66%
10-year low 10-year high
P/S against its own 10 years 66.30%
10-year low 10-year high
P/B against its own 10 years 42.54%
10-year low 10-year high
EV/Sales against its own 10 years 74.59%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.76%
Annual rate
2.44
Payout ratio
43.9%
Growth, 2017–25
+11.0%/yr
  1. 0.98 ’17
  2. 1.11 ’18 +13
  3. 1.25 ’19 +13
  4. 1.40 ’20 +12
  5. 1.54 ’21 +10
  6. 1.70 ’22 +10
  7. 1.87 ’23 +10
  8. 2.06 ’24 +10
  9. 2.27 ’25 +10
  10. 2.48 ’26e +10
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,690 1,487 2,812 5,579
Receivables 4,553 4,516 5,751 6,341
Inventory 2,106 2,214 2,420 2,836
Other 6,012 3,734 2,601 3,830
15,361 11,951 13,584 18,586
2023 2024 2025 Q'26
Payables 8,504 6,982 7,583 7,536
ST’ Debt 11,806 9,948 6,063 16,807
Other 4,822 5,063 5,020 5,973
27,963 25,355 22,817 35,138

Compound Annual Growth %

10y 5y 3y
Sales 4.60% 8.78% 9.36%
Cash Flow 7.44% 9.36% 14.75%
Earnings 9.52% 18.55% 18.12%
Book Value 11.14% 8.15% 11.22%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.20 Actual 1.24

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.53 0.54 Beat by 0.01
Q1 FY26 0.98 1.09 Beat by 0.11
Q2 FY26 1.09 1.15 Beat by 0.06
Q3 FY26 1.20 1.24 Beat by 0.04
Q4 FY26 0.59 — Reports 26 January 2027

EPS $

Mar Jun Sep Dec Year
’26 1.04 1.50 2.28 — —
’25 0.40 0.98 1.18 0.73 3.30
’24 1.10 0.79 0.90 0.58 3.37
’23 1.04 1.38 0.60 0.59 3.60
’22 (0.23) 0.70 0.86 0.76 2.10
’21 0.84 0.13 0.23 0.61 1.81
’20 0.22 0.65 0.63 0.00 1.48
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 6,701 7,534 8,090 — —
’25 6,247 6,700 7,966 6,499 27,412
’24 5,731 6,069 7,567 5,386 24,753
’23 6,716 7,349 7,172 6,877 28,114
’22 2,890 5,183 6,719 6,164 20,956
’21 3,726 3,927 4,370 5,046 17,069
’20 4,613 4,204 4,785 4,395 17,997
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,614 4,662 5,046 — —
’25 2,769 3,189 4,028 2,499 12,485
’24 3,077 3,933 4,269 1,981 13,260
’23 1,673 3,086 3,664 2,878 11,301
’22 1,962 2,831 2,474 995 8,262
’21 1,292 2,203 2,741 1,317 7,553
’20 1,894 1,898 2,839 1,352 7,983
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (8,448) (3,665) (3,119) — —
’25 (5,173) (2,495) (1,674) (2,779) (12,121)
’24 (6,634) (990) (1,205) (2,640) (11,469)
’23 (621) 582 (10,448) (3,325) (13,812)
’22 (2,747) 3,286 726 (12,286) (11,021)
’21 (284) 337 1,361 (9,938) (8,524)
’20 (1,390) (1,096) 3,891 (7,020) (5,615)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 36.0% a year for ten years.

Implied
36.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.9
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 16,138 17,173 16,727 19,204 17,997 17,069 20,956 28,114 24,753 27,412 28,824 +6.1% 30,593 34,240 37,366 +10.9%
Gross margin, % 75.26 76.29 77.69 77.28 80.34 73.48 69.51 80.59 79.68 81.96 80.66 +6.7 pt
EBT 4,378 4,663 7,352 3,836 2,413 3,175 3,832 7,288 6,037 4,530 10,085 +0.4%
EBT margin, % 27.13 27.15 43.95 19.98 13.41 18.60 18.29 25.92 24.39 16.53 34.99 (10.6) pt
Net income 2,999 5,323 5,776 3,388 2,369 2,827 3,246 6,282 5,698 5,332 9,770 +6.6%
Per share, $
Per share, $ Revenue 8.71 9.16 8.84 9.96 9.19 8.70 10.62 13.88 12.06 13.28 13.80 +4.8%
Earnings 1.56 2.85 3.47 1.94 1.48 1.81 2.10 3.60 3.37 3.30 5.55 +8.7%
Cash flow 3.44 3.44 3.48 4.23 4.08 3.85 4.19 5.58 6.46 6.05 7.09 +6.5%
Capex (1.93) (2.79) (2.25) (8.37) (6.94) (8.19) (9.78) (12.39) (12.05) (11.92) (15.72) +22.4%
Free cash flow 1.50 0.66 1.23 (4.14) (2.87) (4.34) (5.59) (6.82) (5.59) (5.87) (8.62) n/m
Book value 13.67 15.75 19.77 21.45 22.93 23.15 24.50 28.51 29.45 32.20 34.88 +10.0%
Shares, m 1,852 1,875 1,893 1,928 1,959 1,963 1,973 2,026 2,053 2,065 2,080 +1.2%
Valuation, ×
Valuation, × P/E 19.12 13.62 12.46 31.17 51.87 51.58 40.11 17.06 21.27 24.40 15.89 28.3
P/S 3.41 4.23 4.92 6.08 8.40 10.73 7.89 4.44 5.95 6.05 6.39 6.2
P/B 2.17 2.46 2.20 2.82 3.36 4.03 3.42 2.16 2.43 2.49 2.53 2.8
EV/Sales 5.24 6.17 7.13 8.26 11.01 13.91 10.91 6.95 9.21 9.43 10.15 8.8
EV/FCF 30.33 86.12 51.28 (19.86) (35.28) (27.85) (20.75) (14.14) (19.88) (21.33) (16.25) 0.9
Cash, $m
Cash, $m Operating cash flow 6,369 6,458 6,593 8,155 7,983 7,553 8,262 11,301 13,260 12,485 14,821 +7.8%
Capex (3,582) (5,227) (4,266) (16,146) (13,598) (16,077) (19,283) (25,113) (24,729) (24,606) (32,832) +23.9%
Free cash flow 2,787 1,231 2,327 (7,991) (5,615) (8,524) (11,021) (13,812) (11,469) (12,121) (18,011) n/m
Balance, $m
Balance, $m Working capital (3,510) (4,062) (11,170) (6,445) (8,176) (8,149) (13,205) (12,602) (13,404) (9,233) (16,552) +11.3%
Net debt 29,548 33,311 37,074 41,983 46,986 54,188 63,365 70,521 80,846 92,807 108,353 +13.6%
Shareholders’ equity 25,331 29,531 37,413 41,360 44,929 45,424 48,326 57,768 60,460 66,479 72,865 +11.3%
Returns, %
Returns, % ROA 3.37 5.72 6.58 3.40 2.38 2.66 2.77 4.35 3.78 3.39 5.18 0.0 pt
ROIC 5.08 5.14 3.59 4.01 3.48 1.83 2.28 4.99 3.31 3.25 2.99 (1.8) pt
ROE 12.00 19.61 19.83 9.57 6.77 7.91 8.85 13.78 11.75 10.77 16.93 (1.2) pt
People
People Employees 14,700 14,000 14,300 14,800 14,900 15,000 15,300 16,800 9,300 17,400 — +1.9%
Revenue/emp, $m 1.10 1.23 1.17 1.30 1.21 1.14 1.37 1.67 2.66 1.58 — +4.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

NextEra Energy, Inc. was founded in 1925 and is headquartered in Juno Beach. It is an electric-power and energy-infrastructure company with two principal businesses: Florida Power & Light (FPL) and NextEra Energy Resources (NEER).

FPL is a rate-regulated electric utility. It generates, buys, moves and delivers electricity to homes, businesses and other users in Florida, then sells that electricity at rates approved by regulators. Its system links power plants, storage assets, transmission lines and local distribution networks. At December 31, 2025, FPL had 35,963 MW of net generating capacity, approximately 93,000 circuit miles of transmission and distribution lines and 932 substations.

Where the money comes from and where it goes Fiscal 2012

Fiscal 2012: revenue by segment, and margins
FPL Segment 10,114 70.95%
NextEra Energy Resources 3,895 27.32%
Corporate and Other 247 1.73%
Gross margin 64.08%
Operating margin 22.98%
Pre-tax margin 18.26%

Revenue by segment since 2009

NextEra 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
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%
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% 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% 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× 19.8× +11.70% +18.56% −335.89% 64.50% 29.36%

All 39 Utilities Regulated Electric stocks →

From the latest earnings call

Updated

  • John Ketchum said Energy Resources added renewables and storage projects to its backlog and signed agreements to develop, build and operate federal energy hubs.
  • Mike Dunne said NextEra was targeting the high end of its unchanged 2026 adjusted earnings range, despite expected El Niño impacts on wind generation.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Morgan Stanley Oct 22, 2026 Reiterated Outperform 110.00
Barclays Oct 20, 2026 Target cut Hold 91.00 → 84.00
BTIG Oct 20, 2026 Target cut Buy 112.00 → 105.00
BMO Capital Oct 20, 2026 Target cut Outperform 93.00 → 88.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 84.42%
Held by the ten largest 43.42%
Holder Shares Stake Change
Vanguard 221.53m 10.62% +3.19m
BlackRock 186.84m 8.96% +8.01m
State Street 118.95m 5.70% −715.18k
JPMorgan Chase 116.05m 5.56% +4.06m
Morgan Stanley 63.51m 3.05% −1.24m
Geode Capital Management 49.96m 2.40% +1.64m
Franklin Templeton 47.26m 2.27% −2.96m
UBS 39.63m 1.90% +864.98k
Norges Bank 32.12m 1.54% +32.12m
Bank of America 29.67m 1.42% −1.68m
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.

NextEra Energy, Inc. (NEE) Latest News

3 Nov

Impact 3 · · Trefis
Impact 3 · · PR Newswire
Impact 3 · · Business Wire

28 Oct

Impact 4 · · Trefis
Impact 4 · · The Motley Fool
Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

27 Oct

Impact 3 · · Zacks

26 Oct

Impact 4 · · 24/7 Wall St.
Impact 3 ·

23 Oct

Impact 4 · · MarketBeat
Impact 4 · · utilitydive.com
Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

22 Oct

Impact 4 · · The Motley Fool
Impact 4 · · Investing.com
Impact 4 · · 24/7 Wall St.
Impact 3 · · 24/7 Wall St.

21 Oct

Impact 4 · · Bloomberg
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 · · Moby transcript
Impact 4 · · Zacks
Impact 3 · · utilitydive.com
Impact 3 · · Zacks
Impact 3 · · Associated Press
Impact 3 · · PR Newswire

20 Oct

Impact 4 · · pilotonline.com
Impact 3 · · Trefis

NEE metrics, ten years each

stockrow.com/NEE · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com