NextEra Energy (NEE)
Utilities · $166B market cap · SEC CIK 0000753308
fundamentals score out of 100
Next reports on Oct 22, 2026, before the open, with analysts expecting $1.18 in earnings per share.
The case for NEE
- 32% of revenue drops through to net profit.
- Revenue growing 10.8% year over year.
- Earnings per share up 55.3%.
- Pays a 3.2% dividend while you wait.
- Reasonably priced at 17.9× earnings.
- A PEG of 0.32: a P/E of 17.9× is low for EPS growing 55%.
The case against
- Long-term debt of $89.6B would take 7 years of operating cash flow to repay.
- Current liabilities exceed current assets (ratio 0.53).
- Price/sales of 5.8× is higher than 93% of Utilities companies.
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 | 60 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 83 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 84 |
| Momentumhow the price has behaved lately | 42 |
| Stabilityhow violently it moves, what it owes and what it pays you | 42 |
- Each factor except momentum is half fixed thresholds, half rank among the 31 Utilities companies.
Key numbers
| Price / earnings | 17.9× |
|---|---|
| Price / book | 3.20× |
| Price / sales | 5.8× |
| Revenue growth (YoY) | +10.8% |
| EPS growth (YoY) | +55.3% |
| Gross margin | — |
| Operating margin | 30% |
| Net margin | 32% |
| Return on equity | 17% |
| Debt / equity | 1.93× |
| Current ratio | 0.53 |
| Dividend yield | 3.25% |
| Beta | 0.61 |
| 52-week range | $70.37 – $98.75 |
| Position in that range | 31% of the way up |
| 3-month return | -8.2% |
| 1-year return | +12.0% |
Five years of financials, as filed
Pulled from NextEra Energy's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $25.8B | $23.5B | $24.8B | $23.0B | $18.8B |
| Operating income | $8.3B | $7.5B | $10.2B | $4.1B | $2.9B |
| Net income | $6.8B | $6.9B | $7.3B | $4.1B | $3.6B |
| Operating cash flow | $12.5B | $13.3B | $11.3B | $8.3B | $7.6B |
| Total assets | $213B | $190B | $177B | $159B | $141B |
| Total liabilities | $146B | $129B | $118B | $109B | $95.2B |
| Shareholder equity | $54.6B | $50.1B | $47.5B | $39.2B | $37.2B |
| Cash | $2.8B | $1.5B | $2.7B | $1.6B | $639M |
| Long-term debt | $89.6B | $72.4B | $61.4B | $55.3B | $51.0B |
| Operating margin | 32.1% | 31.8% | 41.3% | 17.7% | 15.5% |
| Net margin | 26.5% | 29.6% | 29.5% | 18.0% | 19.0% |
| Diluted shares | 2.1B | 2.1B | 2.0B | 2.0B | 2.0B |
Share count is up 5.0% over 4 years. Mild issuance.
What NextEra Energy says it does
– FPL and Item 1. Business – NEER for a description of principal properties. Character of Ownership Substantially all of FPL's properties are subject to the lien of FPL's mortgage, which secures most long-term debt securities issued by FPL. The majority of FPL's real property is held in fee and is free from other encumbrances, subject to minor exceptions which are not of a nature as to substantially impair the usefulness to FPL of such properties. Some of FPL's electric lines are located on parcels of land which are not owned in fee by FPL but are covered by necessary consents of governmental authorities or rights obtained from owners of private property. Subsidiaries within the NEER segment have ownership interests in entities that own generation facilities, pipeline facilities and transmission assets and a number of those facilities and assets are encumbered by liens securing various financings. Additionally, the majority of NEER's…
Risk factors NEE lists in its 10-K
- Significant Fuel and Transportation Contracts
- Base Rates Effective January 2026 through December 2029
- Base Rates Effective January 2022 through December 2025
- NEER Generation Assets' Fuel/Technology Mix
- Rate-Regulated Electric Transmission
- Risks Relating to NEE's and FPL's Business
- Regulatory, Legislative and Legal Risks
- NEE's and FPL's business, financial condition, results of operations and prospects may be materially adversely affected by the extensive regulation of their business
- Regulatory decisions that are important to NEE and FPL may be materially adversely affected by political, regulatory, operational and economic factors
- loss of investments in clean energy projects and reduced project returns, any of which could have a material adverse effect on NEE's and FPL's business, financial condition, results of operations and prospects
- NEE's and FPL's business could be negatively affected by federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions
- NEE and FPL face risks related to project siting, construction, permitting, governmental approvals and the negotiation of project development agreements that may impede their development and operating activities
- Reductions in the liquidity of energy markets may restrict NEE's ability to manage its operational risks, which, in turn, could negatively affect NEE's business, financial condition, results of operations and prospects
- NEE's and FPL's hedging and trading procedures and associated risk management tools may not protect against significant losses