Constellation Energy Corp (CEG)
Utilities · Electric Utilities · US stock · S&P 500 component
$271.37
▼ -3.63 (1.32%)
Fair valueOvervalued
$137 −49.7% to fair value
$68fair band $82–$191$205
Day's range
$269.32 – $276.18
52-week range
$228.28 – $409.40
Red flags⚠ Dividend may be at risk
About Constellation Energy Corp
Constellation Energy generates and supplies electricity from a fleet built around nuclear power that also includes natural gas, hydro, wind and solar plants. It supplies energy to businesses, utilities, government bodies and homes across the United States, and offers clean energy products and services to large customers. It was formed when Exelon separated its generation and retail business from its utility companies.
Revenue comes from power supplied under contracts and on wholesale markets, plus retail electricity and natural gas supply and related energy services. In the last twelve months it was $31.3 billion, growing at 1.5% a year across the last three years. The operating margin is 14.7%, and the business earns a profit of 6% on the capital invested in it. It has net debt of 2.9 times EBITDA. A dividend is paid, with a yield of 0.6%. On the site's X-Ray Score it receives 44 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $228.28 – $409.40Volume 4,000,600Daily, split-adjusted
Vitals
Market cap$97.7B
52-week range$228.28 – $409.40
Volume (last day)4,000,600
P/E (TTM)26.3
EBIT / EV yield3.8%
Free-cash-flow yield0.3%
Dividend yield0.6%
Revenue (TTM)$31.3B
Net income (TTM)$3.5B
Operating margin14.7%
Return on capital5.7%
Debt incl. leases$24.7B
Cash & securities$697M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$137model spread $80 – $123
Overvalued
−49.7% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Multiples use through-the-cycle earnings (0.44x of the last twelve months)
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so the fair value range is widened
Price $271
Undervalued < $82Fair $82 – $191Overvalued > $191
10-year DCF (market-scaled)
$250
Peer multiples
$59
Earnings power floor (not blended)
$15
Fundamentals-adjusted multiple
$101
Growth the price implies
12.3%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Utilities peers. Open a lens to see the numbers behind it.
Valuation
Weak
27/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.8%
Free-cash-flow yield0.3%
Fair value vs price0.5×
Growth
Weak
44/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)1.5%
Growth consistency80%
Profitability
Weak
31/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital5.7%
Operating margin14.7%
Financial health
Strong
80/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA2.9×
Interest cover5.9×
Dividends
Weak
43/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.6%
Dividends vs free cash flow194%
Dividend growth38.0%
Quarterly results: last 6 quarters
+10.2%
Mar '25
+11.4%
Jun '25
+0.3%
Sep '25
+12.9%
Dec '25
+63.8%
Mar '26
+23.0%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $7.5B, diluted EPS $1.42.
Compare with peers
EIX Edison International71 EXC Exelon Corp66 ES Eversource Energy66 AEP American Electric Powe...63Other Electric Utilities companies by X-Ray Score.
Fundamentals checklist
● 6 Good · ● 3 Average · ● 4 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldGood
Risk models
Altman Z''Good
Piotroski F-ScoreAverage
Growth
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalGood
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 47/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $19.6B | $24.4B | $24.9B | $23.6B | $25.5B |
| Operating income | −$346M | $495M | $1.6B | $4.4B | $3.1B |
| Net income | −$205M | −$160M | $1.6B | $3.7B | $2.3B |
| Operating cash flow | −$1.3B | −$2.4B | −$5.3B | −$2.5B | $4.2B |
| Operating margin | -1.8% | 2.0% | 6.5% | 18.5% | 12.1% |
| Free cash flow | −$2.7B | −$4.0B | −$7.7B | −$5.0B | $1.3B |
| Diluted EPS | $0.00 | $-0.49 | $5.01 | $11.89 | $7.40 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
3 bullish · 4 neutral · 9 bearish
Weekly
Strongly bearish
2 bullish · 1 neutral · 9 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 286.6 | Bearish |
| EMA 10 | 280.5 | Bearish |
| SMA 20 | 273.8 | Bearish |
| EMA 20 | 277.9 | Bearish |
| SMA 50 | 275.6 | Bearish |
| EMA 50 | 274.6 | Bearish |
| SMA 100 | 268.3 | Bullish |
| EMA 100 | 275.8 | Bearish |
| SMA 200 | 283.6 | Bearish |
| EMA 200 | 283.0 | Bearish |
Oscillators (daily)
| RSI (14) | 47.09 | Neutral |
| MACD (12, 26) | 3.12 | Bullish |
| Momentum (12) | 6.83 | Bullish |
| Stochastic %K (14) | 38.61 | Neutral |
| Williams %R (14) | -61.39 | Neutral |
| CCI (20) | -6.95 | Neutral |
Pivot points (classic, last session)
S3 261.5 | S2 265.4 | S1 268.4 | Pivot 272.3 | R1 275.3 | R2 279.2 | R3 282.1 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.67 USD
Yield on today's price
0.62%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 18 Aug 2026 | 0.4270 |
| 15 May 2026 | 0.4270 |
| 9 Mar 2026 | 0.4270 |
| 17 Nov 2025 | 0.3880 |
| 18 Aug 2025 | 0.3880 |
| 16 May 2025 | 0.3880 |
| 7 Mar 2025 | 0.3880 |
| 15 Nov 2024 | 0.3530 |
| 12 Aug 2024 | 0.3530 |
| 29 May 2024 | 0.3530 |
| 7 Mar 2024 | 0.3530 |
| 16 Nov 2023 | 0.2820 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
CEG SEC filings
6 Aug 2026
10-QSEC EDGAR
Quarterly report
6 Aug 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
5 Aug 2026
8-KSEC EDGAR
Director or officer change
14 Jul 2026
8-KSEC EDGAR
Other events
2 Jun 2026
8-KSEC EDGAR
Other events
11 May 2026
10-QSEC EDGAR
Quarterly report
11 May 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
1 May 2026
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.