Duke Energy (DUK)
Utilities · $90.6B market cap · SEC CIK 0001326160
fundamentals score out of 100
Next reports on Nov 5, 2026, before the open, with analysts expecting $1.87 in earnings per share.
The case for DUK
- Pays a 4.5% dividend while you wait.
- Reasonably priced at 17.3× earnings.
- Moves less than the market (beta 0.33).
The case against
- Burned $1.7B of free cash in FY2025.
- Long-term debt of $80.1B would take 6 years of operating cash flow to repay.
- Near the bottom of its 52-week range, 14% below the high. Falling prices usually have a reason; find it first.
- Current liabilities exceed current assets (ratio 0.66).
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Utilities companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 52 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 50 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 44 |
| Momentumhow the price has behaved lately | 30 |
| Stabilityhow violently it moves, what it owes and what it pays you | 69 |
- Each factor except momentum is half fixed thresholds, half rank among the 31 Utilities companies.
Key numbers
| Price / earnings | 17.3× |
|---|---|
| Price / book | 1.80× |
| Price / sales | 2.7× |
| Revenue growth (YoY) | +6.3% |
| EPS growth (YoY) | +7.7% |
| Gross margin | 46% |
| Operating margin | 28% |
| Net margin | 16% |
| Return on equity | 10% |
| Debt / equity | 1.67× |
| Current ratio | 0.66 |
| Dividend yield | 4.52% |
| Beta | 0.33 |
| 52-week range | $113.90 – $134.49 |
| Position in that range | 12% of the way up |
| 3-month return | -5.7% |
| 1-year return | -3.6% |
Five years of financials, as filed
Pulled from Duke Energy's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $31.7B | $30.1B | $28.7B | $28.7B | $24.5B |
| Operating income | $8.6B | $7.9B | $7.1B | $6.0B | $5.5B |
| Net income | $5.0B | $4.5B | $2.8B | $2.5B | $3.9B |
| Operating cash flow | $12.3B | $12.3B | $9.9B | $5.9B | $8.3B |
| Capital expenditure | $14.0B | $12.3B | $12.6B | $11.4B | $9.7B |
| Total assets | $196B | $186B | $177B | $178B | $170B |
| Shareholder equity | $51.8B | $50.1B | $49.1B | $49.3B | $49.3B |
| Cash | $245M | $314M | $253M | $409M | $341M |
| Long-term debt | $80.1B | $76.3B | $72.5B | $65.9B | $60.4B |
| Free cash flow | -$1.7B | $48.0M | -$2.7B | -$5.4B | -$1.4B |
| Operating margin | 27.2% | 26.4% | 24.7% | 21.0% | 22.5% |
| Net margin | 15.7% | 15.1% | 9.9% | 8.9% | 16.0% |
| Diluted shares | 777M | 772M | 771M | 770M | 769M |
Share count is essentially flat over 4 years.
What Duke Energy says it does
DUKE ENERGY General Duke Energy was incorporated on May 3, 2005, and is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also Subsidiary Registrants, including Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont. Operations in Kentucky are conducted through Duke Energy Ohio's wholly owned subsidiary, Duke Energy Kentucky. References herein to Duke Energy Ohio include Duke Energy Ohio and its subsidiaries, unless otherwise noted. When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its separate Subsidiary Registrants, which along with Duke Energy, are collectively referred to as the Duke…
Risk factors DUK lists in its 10-K
- Increased competition and unrecovered costs could adversely affect the Duke Energy Registrants’ results of operations, financial position or cash flows and their utility businesses
- The Duke Energy Registrants' operations, capital expenditures and financial results may be affected by regulatory changes related to the impacts of global climate change
- The Duke Energy Registrants’ results of operations may be negatively affected by overall market, economic and other conditions that are beyond their control
- Natural disasters or operational accidents may adversely affect the Duke Energy Registrants’ operating results, financial position or cash flows
- The Duke Energy Registrants' future results of operations may be impacted by changing or conflicting expectations and demands, particularly regarding environmental, social and governance concerns
- The Duke Energy Registrants’ sales may decrease if they are unable to gain adequate, reliable and affordable access to transmission assets
- The availability of adequate interstate pipeline transportation capacity and natural gas supply may decrease
- Risks Related to Supply Chain Disruptions, Inflation, Tariffs and Foreign Export Restrictions
- Fluctuations in commodity prices or availability may adversely affect various aspects of the Duke Energy Registrants’ operations as well as their results of operations, financial position and cash flows
- Cyberattacks and data security breaches could adversely affect the Duke Energy Registrants' businesses
- The Duke Energy Registrants’ operations have been and may be affected by pandemic health events in ways listed below and in ways the Duke Energy Registrants cannot predict at this time
- Duke Energy Ohio’s and Duke Energy Indiana’s membership in an RTO presents risks that could have a material adverse effect on their results of operations, financial position and cash flows
- The Duke Energy Registrants have incurred, and may incur additional costs or delays in the construction of new plants or facilities and may not be able to recover their investments in whole or in part
- The Duke Energy Registrants are subject to risks associated with their ability to obtain adequate insurance at acceptable costs