Dominion Energy, Inc. D

UtilitiesElectric Utilities & IPPsUnited States of America

Last close 66.62 USD on Nov 1, 2026, +17.2% year to date

Quant rating

Quant rating D Rank 71 of 90 in Utilities

Growth D 76 of 90
Valuation D 90 of 90
Quality D 85 of 90
Revisions C 41 of 90
Momentum B 18 of 90

Wall Street consensus Hold (2.71)Average target 69.39 USD +4.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 58.6B
Enterprise value: 117.4B
52-week range: 55.86 – 72.98
3-year range: 40.22 – 72.98
Dividend yield: 4.01%
Beta (5 years): 0.62
Shares outstanding: 880M
Next earnings: Oct 30, 2026

About the company

Dominion Energy, Inc. provides regulated electricity service to approximately 3.6 million homes and businesses in Virginia, North Carolina and South Carolina, and regulated natural gas service to over 500,000 customers in South Carolina. It develops and operates regulated offshore wind and solar power and is the producer of carbon-free electricity in New England. Its Dominion Energy Virginia segment includes Virginia Power's regulated electric transmission, distribution and generation operations, which serve homes and businesses in Virginia and North Carolina. Its Dominion Energy South Carolina segment includes DESC's generation, transmission and distribution of electricity to customers in the central, southern and southwestern portions of South Carolina and the distribution of natural gas to residential, commercial and industrial customers in South Carolina. Its Contracted Energy segment includes nonregulated long-term contracted electric generation fleet and natural gas facilities.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	16,506	14,459	14,393	13,938	11,419	–
Revenue growth	14.2%	0.5%	3.3%	22.1%	−19.4%	3.1%
EPS (basic, normalized)	3.42	2.77	1.99	4.11	3.86	–
EPS growth	23.5%	39.2%	−51.6%	6.5%	–	–
Gross margin	–	–	–	–	–	–
Net margin	18.0%	12.2%	13.9%	2.9%	17.3%	12.9%
ROE	10.8%	6.7%	7.6%	1.8%	7.4%	6.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	296
Current ratio	0.81x
Long-term debt (mil)	46,719
Net debt (mil)	58,808
Total equity (mil)	28,922
Net debt / equity	2.03x
Net debt / EBITDA	8.69x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	16,506	+14.2%	7.1x	6,769	−3.9%	17.3x	3.42	+23.5%	19.5x
2026	17,998	+9.0%	6.5x	8,340	+23.2%	14.1x	3.59	+5.1%	18.5x
2027	19,291	+7.2%	6.1x	9,517	+14.1%	12.3x	3.82	+6.2%	17.5x
2028	20,468	+6.1%	5.7x	10,504	+10.4%	11.2x	4.08	+6.8%	16.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	17,998	−0.2%	+0.3%	+1.7%	3.59	+0.2%	+0.2%	+0.1%
2027	19,291	−0.2%	+1.0%	+2.8%	3.82	0.0%	0.0%	+0.1%
2028	20,468	−0.1%	+0.9%	+3.6%	4.08	0.0%	+0.1%	+0.6%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	3,632	3,486	3,941	3,400	4,076	3,810	4,527	4,093	5,019	4,480
Sales mean (mil)	4,380	3,729	4,179	3,941	3,973	3,652	4,250	3,653	4,512	4,043
Surprise	−17.1%	−6.5%	−5.7%	−13.7%	+2.6%	+4.3%	+6.5%	+12.0%	+11.2%	+10.8%
EPS reported	0.55	0.65	0.98	0.58	0.93	0.75	1.06	0.68	0.95	0.79
EPS mean	0.55	0.56	0.93	0.56	0.75	0.68	0.95	0.67	0.91	0.68
Surprise	+0.5%	+15.1%	+5.7%	+3.8%	+24.2%	+10.7%	+11.7%	+1.8%	+4.3%	+17.0%

Peer comparison Electric Utilities & IPPs

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
D Dominion Energy, Inc.	58.6B	8.69x	18.0%	2.02x	18.5x	17.5x	14.1x	12.3x
NEE NextEra Energy, Inc.	175.6B	8.16x	24.9%	2.85x	20.8x	19.1x	17.2x	14.4x
SO Southern Co	107.8B	5.56x	14.7%	2.72x	20.4x	19.0x	13.0x	12.0x
DUK Duke Energy Corp	99.3B	6.28x	15.2%	1.81x	18.9x	17.8x	11.8x	10.7x
CEG Constellation Energy Corp	93.0B	4.28x	9.1%	2.91x	21.6x	19.6x	13.6x	12.6x
AEP American Electric Power Company Inc	70.9B	6.40x	16.4%	2.16x	20.4x	18.9x	13.1x	11.7x
Mean		6.56x	16.4%	2.41x	20.1x	18.6x	13.8x	12.3x
Median		6.34x	15.8%	2.44x	20.4x	18.9x	13.3x	12.2x

Technical analysis

1M+10.5%
3M−4.7%
1Y+16.5%
3Y+91.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Dominion Energy, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	16,506	14,459	14,393	13,938	11,419	14,172
Cost of revenue	82.0	74.0	55.0	59.0	70.0	53.0
Gross profit	16,424	14,385	14,338	13,879	11,349	14,119
Selling, general & administrative expenses	–	–	–	–	–	–
Research & development	–	–	–	–	–	–
Depreciation/amortization	2,387	2,345	2,580	2,442	2,117	2,332
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	517	600	307	1,813	609	2,141
Other operating expenses	9,106	8,193	8,037	8,177	6,627	7,591
Operating income	4,414	3,247	3,414	1,447	1,996	2,055
Net interest income (expense)	−1,119	−886	−901	−1,863	−544	−3,677
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	316	−166	218	978	428	3,033
Net income before taxes	3,611	2,195	2,731	562	1,880	1,411
Provision for taxes	532	411	644	59.0	−181	83.0
Minority interest	−67.0	53.0	0	0	−20.0	149
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	3,012	1,837	2,087	503	2,041	1,477
Extraordinary items	−14.0	197	−125	922	1,358	−1,878
Net income	2,998	2,034	1,962	1,425	3,399	−401
EBIT, normalized	4,931	3,847	3,721	3,260	2,605	4,196
EBITDA, normalized	7,615	6,486	6,849	6,373	5,373	7,032
Basic EPS, normalized	3.42	2.77	1.99	4.11	3.86	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Dominion Energy, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	250	310	184	119	283	172
Receivables	3,411	2,527	2,509	2,532	2,568	2,507
Total inventory	1,957	1,764	1,698	1,528	1,631	1,550
Prepaid expenses	377	315	246	294	328	309
Other current assets	2,076	1,697	20,798	5,377	2,459	2,348
Total current assets	8,071	6,613	25,435	9,850	7,269	6,886
Property, plant & equipment	79,606	69,450	59,358	52,785	60,280	58,412
Goodwill	4,143	4,143	4,143	4,143	7,405	7,381
Intangibles	1,682	1,136	945	813	784	765
Long-term investments	9,676	8,550	7,538	6,577	11,276	10,238
Note receivable	–	–	–	–	–	–
Other long-term assets	12,679	12,523	11,661	30,627	12,576	12,223
Total assets	115,857	102,415	109,080	104,795	99,590	95,905
Liabilities
Accounts payable	1,338	1,149	921	1,163	1,197	944
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,283	1,081	1,111	948	1,213	1,187
Short-term debt	2,457	2,500	4,406	3,423	2,314	1,120
Current portion of long-term debt	2,409	1,725	6,592	3,337	841	1,937
Other current liabilities	2,957	2,834	11,446	4,579	3,108	5,655
Total current liabilities	10,444	9,289	24,476	13,450	8,673	10,843
Long-term debt	44,075	37,525	33,248	34,584	37,426	33,957
Minority interest	4,334	2,939	0	–	0	344
Other liabilities	27,921	25,799	23,789	29,102	24,573	24,644
Total liabilities	86,774	75,552	81,513	77,136	70,672	69,788
Shareholders' equity
Preferred stock	991	991	1,783	1,783	3,393	2,387
Common stock	25,892	24,383	23,728	23,605	21,610	21,258
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	2,318	1,641	2,229	3,843	5,373	4,189
Treasury stock	–	–	–	–	–	–
Other equity	−118	−152	−173	−1,572	−1,458	−1,717
Total equity	29,083	26,863	27,567	27,659	28,918	26,117
Total liabilities & shareholders' equity	115,857	102,415	109,080	104,795	99,590	95,905

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Dominion Energy, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	3,065	2,071	1,994	994	3,314	−550
Depreciation, depletion & amortization	2,684	2,639	3,128	3,113	2,768	2,836
Deferred taxes	1,056	−334	1,434	9.0	487	−324
Non-cash items	−73.0	118	−10.0	2,920	−358	4,061
Changes in working capital	−1,371	524	26.0	−3,336	−2,174	−796
Cash from operations	5,361	5,018	6,572	3,700	4,037	5,227
Investing activities
Capital expenditures	−12,641	−12,198	−10,211	−7,591	−5,960	−6,020
Other investing cash flows	−328	9,015	3,004	845	−287	3,104
Cash from investing	−12,969	−3,183	−7,207	−6,746	−6,247	−2,916
Financing activities
Financing cash flow items	1,407	2,723	−186	−204	−371	−446
Cash dividends paid	−2,278	−2,239	−2,233	−2,209	−2,036	−2,873
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	8,457	−2,255	3,014	5,392	4,778	986
Cash from financing	7,586	−1,771	595	2,979	2,371	−2,333
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−22.0	64.0	−40.0	−67.0	161	−22.0
Free cash flow	−7,280	−7,180	−3,639	−3,891	−1,923	−793

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.