NextEra Energy, Inc. NEE

UtilitiesElectric Utilities & IPPsUnited States of America

Last close 83.71 USD on Nov 1, 2026, +6.5% year to date

Quant rating

Quant rating C Rank 55 of 90 in Utilities

Growth B 15 of 90
Valuation B 16 of 90
Quality C 47 of 90
Revisions D 78 of 90
Momentum C 52 of 90

Wall Street consensus Buy (2.13)Average target 94.63 USD +13.0%

Historical valuation

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

Key data

Market cap: 175.6B
Enterprise value: 296.8B
52-week range: 74.44 – 98.75
3-year range: 54.50 – 98.75
Dividend yield: 2.98%
Beta (5 years): 0.61
Shares outstanding: 2,097M
Next earnings: Jan 25, 2027

About the company

NextEra Energy, Inc. is an electric power and energy infrastructure company. It operates through its wholly owned subsidiaries, NextEra Energy Resources, LLC and NextEra Energy Transmission, LLC (collectively, NEER) and Florida Power & Light Company (FPL). Its segments include NEER and FPL. FPL segment is a rate-regulated electric utility engaged in the generation, transmission, distribution and sale of electric energy in Florida. FPL has approximately 35,052 megawatts of net generating capacity, over 91,000 circuit miles of transmission and distribution lines and 921 substations. The NEER segment owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets in the United States and Canada and includes assets and investments in other businesses with a clean energy focus, such as battery storage, natural gas pipelines, and renewable fuels. It owns, develops, constructs and operates rate-regulated transmission facilities in North America.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	27,412	24,753	28,114	20,956	17,069	–
Revenue growth	10.7%	−12.0%	34.2%	22.8%	−5.2%	8.8%
EPS (basic, normalized)	3.71	3.43	3.17	2.90	2.55	–
EPS growth	8.2%	8.2%	9.3%	13.7%	–	–
Gross margin	–	–	–	–	–	–
Net margin	24.9%	28.1%	26.0%	19.8%	20.9%	23.9%
ROE	13.1%	14.2%	16.9%	10.9%	9.7%	12.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	5,579
Current ratio	0.53x
Long-term debt (mil)	97,125
Net debt (mil)	121,197
Total equity (mil)	61,498
Net debt / equity	1.97x
Net debt / EBITDA	8.16x

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	27,412	+10.7%	10.8x	14,860	−6.9%	20.0x	3.71	+8.2%	22.6x
2026	30,582	+11.6%	9.7x	17,292	+16.4%	17.2x	4.03	+8.5%	20.8x
2027	33,695	+10.2%	8.8x	20,638	+19.4%	14.4x	4.39	+9.0%	19.1x
2028	36,566	+8.5%	8.1x	22,146	+7.3%	13.4x	4.75	+8.3%	17.6x

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	30,582	+0.8%	+0.8%	−1.9%	4.03	−0.8%	−1.1%	−0.2%
2027	33,695	+1.1%	+2.0%	−0.9%	4.39	−0.7%	−1.1%	0.0%
2028	36,566	+0.4%	+2.3%	−0.8%	4.75	−0.3%	−0.6%	−0.3%

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)	5,731	6,069	7,567	5,385	6,247	6,700	7,966	6,500	6,701	7,534
Sales mean (mil)	6,152	7,364	8,105	7,070	6,775	7,378	8,043	6,645	7,275	8,055
Surprise	−6.9%	−17.6%	−6.6%	−23.8%	−7.8%	−9.2%	−1.0%	−2.2%	−7.9%	−6.5%
EPS reported	0.91	0.96	1.03	0.53	0.99	1.05	1.13	0.54	1.09	1.15
EPS mean	0.78	0.98	0.98	0.53	0.97	1.01	1.02	0.53	0.96	1.11
Surprise	+17.1%	−2.0%	+4.7%	+0.9%	+2.2%	+4.0%	+11.1%	+2.7%	+13.6%	+3.9%

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
NEE NextEra Energy, Inc.	175.6B	8.16x	24.9%	2.85x	20.8x	19.1x	17.2x	14.4x
GEV GE Vernova Inc.	227.1B	−3.88x	12.8%	19.95x	29.2x	33.9x	32.6x	21.6x
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		4.47x	15.5%	5.40x	21.9x	21.4x	16.9x	13.8x
Median		5.92x	15.0%	2.79x	20.6x	19.1x	13.3x	12.3x

Technical analysis

1M+10.9%
3M−5.5%
1Y+3.0%
3Y+62.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, NextEra Energy, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	27,412	24,753	28,114	20,956	17,069	17,997
Cost of revenue	–	–	–	–	–	–
Gross profit	27,412	24,753	28,114	20,956	17,069	17,997
Selling, general & administrative expenses	–	–	–	–	–	–
Research & development	–	–	–	–	–	–
Depreciation/amortization	6,580	5,462	5,879	4,503	3,924	4,052
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−260	−352	−405	−522	−49.0	1,330
Other operating expenses	12,812	12,164	12,403	12,894	10,281	8,999
Operating income	8,280	7,479	10,237	4,081	2,913	3,616
Net interest income (expense)	−4,470	−2,211	−3,688	−763	−267	−1,550
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	720	769	739	514	529	347
Net income before taxes	4,530	6,037	7,288	3,832	3,175	2,413
Provision for taxes	−802	339	1,006	586	348	−43.0
Minority interest	1,503	1,248	1,028	901	746	550
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	6,835	6,946	7,310	4,147	3,573	3,006
Extraordinary items	–	–	–	–	–	−87.0
Net income	6,835	6,946	7,310	4,147	3,573	2,919
EBIT, normalized	8,020	7,132	9,919	4,320	2,864	4,946
EBITDA, normalized	14,961	12,893	16,070	9,110	7,078	9,261
Basic EPS, normalized	3.71	3.43	3.17	2.90	2.55	–

Balance sheet in millions of USD, fiscal years

Balance sheet, NextEra Energy, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	2,812	1,487	2,690	1,601	639	1,105
Receivables	5,751	4,768	6,040	5,093	4,108	2,974
Total inventory	2,420	2,214	2,106	1,934	1,561	1,552
Prepaid expenses	–	–	–	–	–	–
Other current assets	2,601	3,482	4,525	4,862	2,980	1,751
Total current assets	13,584	11,951	15,361	13,490	9,288	7,382
Property, plant & equipment	157,747	140,050	126,612	111,825	100,100	91,803
Goodwill	4,849	4,866	5,091	4,854	4,844	4,254
Intangibles	3,653	3,495	3,398	1,481	742	693
Long-term investments	16,482	15,918	14,854	14,078	15,081	13,507
Note receivable	–	–	–	–	–	–
Other long-term assets	16,406	13,864	12,173	13,207	10,857	10,045
Total assets	212,721	190,144	177,489	158,935	140,912	127,684
Liabilities
Accounts payable	7,583	6,982	8,504	8,312	6,935	4,615
Payable/accrued	–	–	–	–	–	–
Accrued expenses	4,151	3,362	2,831	2,479	1,903	1,510
Short-term debt	2,563	1,887	4,905	3,077	2,082	2,009
Current portion of long-term debt	3,500	8,061	6,901	6,633	1,785	4,138
Other current liabilities	5,020	5,063	4,822	6,194	4,732	3,286
Total current liabilities	22,817	25,355	27,963	26,695	17,437	15,558
Long-term debt	89,556	72,385	61,405	55,256	50,960	41,944
Minority interest	11,871	10,760	11,556	10,207	8,467	8,416
Other liabilities	33,869	31,543	29,097	27,548	26,846	25,253
Total liabilities	158,113	140,043	130,021	119,706	103,710	91,171
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	21.0	21.0	21.0	20.0	20.0	20.0
Additional paid-in capital	19,494	17,260	17,365	12,720	11,271	11,222
Retained earnings (accumulated deficit)	35,102	32,946	30,235	26,707	25,911	25,363
Treasury stock	–	–	–	–	–	–
Other equity	−9.0	−126	−153	−218	0	−92.0
Total equity	54,608	50,101	47,468	39,229	37,202	36,513
Total liabilities & shareholders' equity	212,721	190,144	177,489	158,935	140,912	127,684

Cash flow statement in millions of USD, fiscal years

Cash flow statement, NextEra Energy, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	5,332	5,698	6,282	3,246	2,827	2,369
Depreciation, depletion & amortization	6,941	5,761	6,151	4,790	4,214	4,315
Deferred taxes	453	1,308	708	534	436	−78.0
Non-cash items	−314	−478	−1,159	−1,261	36.0	1,525
Changes in working capital	73.0	971	−681	953	40.0	−148
Cash from operations	12,485	13,260	11,301	8,262	7,553	7,983
Investing activities
Capital expenditures	−9,274	−8,514	−9,548	−9,742	−7,048	−6,747
Other investing cash flows	−14,591	−13,750	−13,919	−8,617	−6,543	−6,952
Cash from investing	−23,865	−22,264	−23,467	−18,359	−13,591	−13,699
Financing activities
Financing cash flow items	2,029	920	2,017	3,593	2,107	3,617
Cash dividends paid	−4,680	−4,235	−3,782	−3,352	−3,024	−2,743
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	15,630	10,315	13,914	11,988	6,724	5,300
Cash from financing	12,979	7,000	12,149	12,229	5,807	6,174
Foreign exchange effects	5.0	−14.0	−4.0	−7.0	1.0	−20.0
Net change in cash	1,604	−2,018	−21.0	2,125	−230	438
Free cash flow	3,211	4,746	1,753	−1,480	505	1,236

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.

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