NextEra Energy, Inc.
NEE Utilities Utilities Regulated Electric
In the quarter to June 2026, revenue grew 12.5%, EPS grew 53.1%, free cash flow fell 46.9% and total debt rose 18.3%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.
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NextEra Energy, Inc. (NEE) Altman Z-score
NextEra Energy, Inc.'s Altman Z-score for fiscal 2025 is 1.12, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.12 | 0.02 |
| FY2024 | 1.10 | (0.02) |
| FY2023 | 1.12 | (0.13) |
| FY2022 | 1.25 | (0.28) |
| FY2021 | 1.53 | (0.04) |
| FY2020 | 1.57 | 0.11 |
| FY2019 | 1.46 | 0.23 |
| FY2018 | 1.23 | 0.02 |
| FY2017 | 1.21 | 0.16 |
| FY2016 | 1.05 | (0.01) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.04) | — | −0.05 | |
| Retained earnings / total assets | 0.17 | — | 0.23 | |
| EBIT / total assets | 0.04 | — | 0.13 | |
| Market value of equity / total liabilities | 1.13 | — | 0.68 | |
| Sales / total assets | 0.13 | — | 0.13 | |
| Altman Z-score | Distress zone | 1.12 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.99 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| NGG National Grid Transco, PLC compare | 1.4× |
| NEE NextEra Energy, Inc. | 1.1× |
| ETR Entergy Corporation compare | 1.0× |
| SO Southern Company (The) compare | 0.9× |
| AEP American Electric Power Company, Inc. compare | 0.9× |
| XEL Xcel Energy Inc. compare | 0.9× |
| EXC Exelon Corporation compare | 0.7× |
| DUK Duke Energy Corporation compare | 0.7× |
| D Dominion Energy Inc. compare | 0.6× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on NEE
- 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
- Beneish M-score
- The full statement