CEG Financials Constellation Energy

6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:13 UTC Overview →

Growth & profitability

Revenue has grown 7.1% per year over the past 5 years.
Net income has grown faster than revenue (31.5% vs 7.1% per year).

Financial health

Total debt ($9.1B) exceeds cash ($3.6B); net debt is $5.4B.
Total debt has grown slower than revenue (3.5% vs 7.1% per year).
Operating income covered interest expense 6.0× in the latest year.
Total debt is 1.6× EBITDA.

Shareholder returns

Dividends have been paid for 4 consecutive years, consuming 21.0% of earnings and 37.7% of free cash flow.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$22.7B	$2.3B	0.0%	13.6%	16.0%	4.1%	$1.3B	$9.1B	$3.6B
2024	$19.0B	$3.7B	0.0%	22.9%	28.5%	7.1%	-$5.0B	$8.5B	$3.0B
2023	$20.8B	$1.6B	0.0%	7.7%	14.9%	3.2%	-$7.7B	$9.3B	$368M
2022	$21.6B	-$160M	0.0%	2.3%	-1.5%	-0.3%	-$4.0B	$5.8B	$422M
2021	$17.3B	-$205M	0.0%	-2.0%	-1.8%	-0.4%	-$2.7B	$7.9B	$504M
2020	—	$589M	—	—	—	—	-$1.2B	—	$226M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$5.8B	$513M	0.0%	9.9%	1.6%	0.5%	-$118M	$24.7B	$697M
Mar '26	$7.5B	$1.6B	0.0%	30.9%	4.7%	1.6%	-$850M	$22.5B	$800M
Dec '25	$5.7B	$432M	0.0%	10.5%	3.0%	0.8%	-$181M	$9.1B	$3.6B
Sep '25	$5.7B	$930M	0.0%	19.0%	6.5%	1.7%	$1.5B	$8.9B	$4.0B
Jun '25	$5.2B	$839M	0.0%	18.4%	6.2%	1.6%	$710M	$8.2B	$2.0B
Mar '25	$6.1B	$118M	0.0%	7.4%	0.9%	0.2%	-$699M	$7.3B	$1.8B
Dec '24	$4.5B	$852M	0.0%	21.5%	6.5%	1.6%	-$1.7B	$8.5B	$3.0B
Sep '24	$4.8B	$1.2B	0.0%	30.7%	9.5%	2.3%	-$664M	$7.4B	$1.8B
Jun '24	$4.4B	$814M	0.0%	25.0%	7.1%	1.6%	-$1.2B	$8.1B	$311M
Mar '24	$5.3B	$883M	0.0%	15.5%	7.9%	1.7%	-$1.5B	$9.9B	$562M
Dec '23	$5.0B	-$37M	0.0%	-1.3%	-0.3%	-0.1%	-$3.9B	$9.3B	$368M
Sep '23	$5.3B	$731M	0.0%	18.4%	6.3%	1.5%	-$1.4B	$8.0B	$1.9B
Jun '23	$4.7B	$833M	0.0%	14.2%	7.4%	1.8%	-$868M	$7.1B	$269M
Mar '23	$5.8B	$96M	0.0%	0.5%	0.9%	0.2%	-$1.6B	$6.5B	$237M
Dec '22	—	$34M	—	—	0.3%	0.1%	-$3.0B	$5.8B	$422M
Sep '22	—	-$188M	—	—	-1.7%	-0.4%	-$1.5B	$5.2B	$1.2B
Jun '22	—	-$111M	—	—	-1.0%	-0.2%	-$478M	$4.7B	$806M
Mar '22	—	$106M	—	—	1.0%	0.2%	$941M	$5.6B	$1.6B
Dec '21	—	$42M	—	—	0.4%	0.1%	-$2.6B	$7.9B	$504M
Sep '21	—	$607M	—	—	—	—	$964M	—	$2.0B

Valuation over time

How the market has priced CEG against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 26.6× (Jan '24) to 39.5× (Nov '26).
The price-to-sales ratio has risen from 1.3× (Mar '23) to 4.0× (Nov '26).
The dividend yield has fallen from 0.7% (Mar '23) to 0.5% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is CEG growing its revenue and profit?

Over the past 5 years, Constellation Energy's revenue has grown 7.1% per year, and net income grown 31.5% per year. These are computed facts, not advice.

How much debt does CEG have?

As of FY2025, Constellation Energy reported $9.1B of total debt against $3.6B of cash; operating income covered interest expense 6.0×.

What is CEG's profit margin?

In FY2025, gross margin was —, operating margin 13.6%, and net margin 10.2%.

What is CEG's P/E ratio?

Constellation Energy's P/E (TTM) is 26.43 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the CEG stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 39.5× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.