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NextEra Energy

NEE NYSE Multi-Utilities Financials FY2016–FY2025

NextEra Energy's revenue rose 9.8% to $25.8 billion in fiscal 2025. Its operating margin was 32.1%, up from 31.8% a year earlier. It paid out $4.7 billion in dividends and buybacks. The diluted share count rose 0.6%.

Last close · Oct 23, 2026

$82.10

0.2%
Value it Compare
Revenue Total sales reported in the income statement.
$25.8B
9.8% vs prior year
Operating margin Operating income as a share of revenue.
32.1%
0.3 pts
Net income Profit after all expenses, interest and tax.
$6.8B
1.6%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
5.5%
0.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$171.8B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
20.9x
On $3.93 EPS (TTM)

About these figures. NextEra Energy tags its capital expenditure with its own label, which the SEC's structured data leaves out, so capital spending and free cash flow are left blank. Share counts and per-share figures for earlier years are restated for a stock split (4-for-1), so every year is on today's share basis.

What NextEra Energy does

No business description yet.

Legal name
NEXTERA ENERGY INC
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000753308-26-000015
0000753308

Revenue and margins

NextEra Energy had $25.8B of revenue in fiscal 2025, up 9.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 8.7% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

NextEra Energy returned $4.7B to shareholders in fiscal 2025. The diluted share count rose 0.6%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value NextEra Energy yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$93.3B and divides by 2,070.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 20.9x · peers 19.4x · sector 20.4x.

Balance sheet

Cash, debt and the ratios that show how comfortably NextEra Energy can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $639M$1.6B$2.7B$1.5B$2.8B
Debt incl. finance leases $54.3B$64.0B$73.4B$83.0B$96.2B
Net debt / EBITDA 7.9x7.3x4.4x6.3x6.3x
Debt / equity 1.5x1.6x1.6x1.7x1.8x
Interest coverage 2.2x3.0x4.2x2.7x2.4x
Current ratio 0.5x0.5x0.6x0.5x0.6x
Quick ratio 0.4x0.4x0.5x0.4x0.5x
Total assets $140.9B$158.9B$177.5B$190.1B$212.7B
Total liabilities $95.2B$109.5B$118.5B$129.3B$146.2B
Shareholders' equity $37.2B$39.2B$47.5B$50.1B$54.6B
Net debt (− = net cash) $53.7B$62.4B$70.7B$81.5B$93.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$31.1M

8 insiders

Of sales under plans

100%

$31.1M

DateInsiderTradeSharesPriceValueFiling
Mar 13, 2026 Nicole J DaggsEVP, Human Res & Corp Svcs Sold plan 4,934 $93.00 $0.5M Form 4
Mar 9, 2026 James Michael MayTreasurer and Asst. Secretary Sold plan 7,161 $90.27 $0.6M Form 4
Mar 9, 2026 Mark LemasneyEVP Power Generation Division Sold plan 3,845 $90.27 $0.3M Form 4
Mar 9, 2026 Terrell Kirk Crews IIEVP, Chief Risk Officer Sold plan 19,672 $90.27 $1.8M Form 4
Feb 17, 2026 Ronald R ReaganEVP, Eng., Const. & ISC Sold plan 5,079 $95.00 $0.5M Form 4
Feb 9, 2026 John W KetchumChairman, President & CEO, Director Sold plan 99,603 $89.34 $8.9M Form 4
Feb 4, 2026 Charles E SievingEVP, Chief Legal Sold plan 30,000 $90.00 $2.7M Form 4
Feb 4, 2026 Ronald R ReaganEVP, Eng., Const. & ISC Sold plan 18,620 $90.00 $1.7M Form 4
Jan 22, 2026 Ronald R ReaganEVP, Eng., Const. & ISC Sold plan 10,826 $85.00 $0.9M Form 4
Dec 11, 2025 Ronald R ReaganEVP, Eng., Const. & ISC Sold plan 12,129 $81.25 $1.0M Form 4
Nov 17, 2025 Armando Pimentel JrDirector, Pres & CEO of Sub Sold plan 145,140 $83.91 $12.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✓
F-score 5 / 83 / 85 / 8
Accruals ratio −2.4%−3.4%−2.8%
Altman Z'' 0.990.860.99

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
NextEra Energy NEE $171.8B 9.8% 32.1% — 5.5% 20.9x 5
PG&E PCG $28.9B 2.1% 19.1% −12.3% 5.4% 9.2x 4 Compare →
Consolidated Edison ED $42.2B 10.9% 17.4% 0.2% 4.7% 19.5x 6 Compare →
Dominion Energy D $57.4B 14.2% 26.7% −44.2% 4.9% 19.3x 6 Compare →
DTE Energy DTE $27.4B 27.0% 15.0% — 6.1% 21.7x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $16.1B $17.2B $15.4B $17.5B $17.0B $18.8B $23.0B $24.8B $23.5B $25.8B
Operating income $4.5B $5.2B $4.3B $5.4B $5.1B $2.9B $4.1B $10.2B $7.5B $8.3B
Interest expense $1.2B $1.2B $1.2B $1.8B $1.4B $1.3B $1.4B $2.5B $2.7B $3.5B
Pretax income $4.4B $4.7B $7.4B $3.8B $2.4B $3.2B $3.8B $7.3B $6.0B $4.5B
Income tax $1.4B −$660M $1.6B $448M $44.0M $348M $586M $1.0B $339M −$802M
Net income $2.9B $5.4B $6.6B $3.8B $2.9B $3.6B $4.1B $7.3B $6.9B $6.8B
Diluted EPS $1.56 $2.85 $3.47 $1.94 $1.48 $1.81 $2.10 $3.60 $3.37 $3.30
Diluted shares 1.86B 1.89B 1.91B 1.94B 1.97B 1.97B 1.98B 2.03B 2.06B 2.07B
Cash flow
Cash from operations $6.4B $6.5B $6.6B $8.2B $8.0B $7.6B $8.3B $11.3B $13.3B $12.5B
Depreciation and amortization $3.1B $2.4B $3.9B $4.2B $4.1B $3.9B $4.5B $5.9B $5.5B $6.6B
Stock-based compensation $77.0M $76.0M $82.0M $100M $107M $119M $142M $139M $138M $185M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $1.6B $1.8B $2.1B $2.4B $2.7B $3.0B $3.4B $3.8B $4.2B $4.7B
Dividends and buybacks $1.6B $1.8B $2.1B $2.4B $2.7B $3.0B $3.4B $3.8B $4.2B $4.7B
Balance sheet
Cash and short-term investments $1.3B $1.7B $638M $600M $1.1B $639M $1.6B $2.7B $1.5B $2.8B
Total debt $30.7B $33.3B $35.0B $40.1B $47.6B $54.1B $63.6B $73.0B $82.1B $95.0B
Finance lease liabilities $0.0M $72.0M $63.0M $56.0M $124M $200M $375M $444M $840M $1.1B
Current assets $7.4B $7.2B $6.4B $7.4B $7.4B $9.3B $13.5B $15.4B $12.0B $13.6B
Current liabilities $10.9B $11.2B $17.6B $13.9B $15.6B $17.4B $26.7B $28.0B $25.4B $22.8B
Inventory $1.3B $1.3B $1.2B $1.3B $1.6B $1.6B $1.9B $2.1B $2.2B $2.4B
Property and equipment, net $66.9B $72.3B $70.3B $82.0B $91.8B $99.3B $111.1B $125.8B $138.9B $156.2B
Total assets $90.5B $98.0B $103.7B $117.7B $127.7B $140.9B $158.9B $177.5B $190.1B $212.7B
Total liabilities $64.6B $68.4B $66.3B $75.8B $82.8B $95.2B $109.5B $118.5B $129.3B $146.2B
Shareholders' equity $24.3B $28.2B $34.1B $37.0B $36.5B $37.2B $39.2B $47.5B $50.1B $54.6B
Margins
Operating margin 27.6% 30.1% 27.8% 30.6% 30.1% 15.5% 17.7% 41.3% 31.8% 32.1%
EBITDA margin 47.0% 43.9% 53.2% 54.7% 53.9% 36.4% 37.3% 65.0% 55.1% 57.6%
Net margin 18.0% 31.3% 43.1% 21.5% 17.2% 19.0% 18.0% 29.5% 29.6% 26.5%
Returns
Return on capital 5.7% 8.9% 5.1% 6.2% 5.8% 2.7% 3.3% 7.4% 5.2% 5.5%
Return on capital employed 5.9% 6.2% 5.0% 5.6% 4.7% 2.5% 3.2% 7.3% 4.8% 4.7%
Return on equity 12.4% 20.5% 21.3% 10.6% 7.9% 9.7% 10.9% 16.9% 14.2% 13.1%
Return on assets 3.4% 5.7% 6.6% 3.4% 2.4% 2.7% 2.8% 4.4% 3.8% 3.4%
Growth
Revenue growth −7.7% 6.4% −10.3% 13.6% −2.9% 10.6% 22.3% 7.8% −5.2% 9.8%
Net income growth 5.6% 85.1% 23.4% −43.2% −22.6% 22.4% 16.1% 76.3% −5.0% −1.6%
EPS growth 3.0% 82.5% 21.9% −44.1% −23.7% 22.3% 16.0% 71.4% −6.4% −2.1%
Share count change 2.6% 1.4% 1.0% 1.8% 1.4% 0.2% 0.3% 2.6% 1.4% 0.6%
Financial health
Net debt / EBITDA 3.9x 4.2x 4.2x 4.1x 5.1x 7.9x 7.3x 4.4x 6.3x 6.3x
Debt / equity 1.3x 1.2x 1.0x 1.1x 1.3x 1.5x 1.6x 1.6x 1.7x 1.8x
Interest coverage 3.7x 4.4x 3.5x 3.0x 3.6x 2.2x 3.0x 4.2x 2.7x 2.4x
Current ratio 0.7x 0.6x 0.4x 0.5x 0.5x 0.5x 0.5x 0.6x 0.5x 0.6x
Quick ratio 0.6x 0.5x 0.3x 0.4x 0.4x 0.4x 0.4x 0.5x 0.4x 0.5x
Capital allocation
Stock comp / revenue 0.5% 0.4% 0.5% 0.6% 0.6% 0.6% 0.6% 0.6% 0.6% 0.7%
Quality scores
Piotroski F-score 5.0 5.0 4.0 5.0 3.0 6.0 5.0 5.0 3.0 5.0
Altman Z'' 1.1 1.2 0.9 1.2 1.1 0.9 0.6 1.0 0.9 1.0
Accruals ratio −4.0% −1.1% 0.0% −4.0% −4.1% −3.0% −2.7% −2.4% −3.4% −2.8%

Source: SEC EDGAR XBRL filings (CIK 0000753308). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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