NEXTERA ENERGY INC NEE
NEE is one of the largest electric power and energy infrastructure companies in North America. As of December 31, 2025, NEE had approximately 80 gigawatts of net generation and storage capacity from a diverse portfolio of assets, primarily including natural gas, wind, solar and nuclear generation facilities and battery storage facilities. NEE has two principal businesses, FPL and NEER. FPL is the largest electric utility in Florida and the U.S. FPL's strategic focus is centered on investing in generation, storage, transmission and distribution facilities to deliver on its value proposition of keeping customer bills low and delivering high reliability, outstanding customer service and energy from diverse generation sources for the benefit of its more than six million customer accounts. NEER is one of the largest energy infrastructure developers in the U.S. NEER's strategic focus is centered on the development, construction and operation of long-term contracted generation facilities, including renewables, nuclear and natural gas, as well as battery storage facilities. NEER also builds and owns regulated electric and gas transmission assets, is a leading gas and power supplier, and delivers integrated energy and technology solutions to utilities and businesses across the U.S.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.80B | $23.50B | $24.80B | $23.00B | $18.80B | $17.00B | $17.50B | $15.40B | — | — |
| Total operating expenses | $19.39B | $17.63B | $18.28B | $17.40B | $14.23B | $13.23B | $14.26B | $12.53B | $12.00B | $11.68B |
| Operating income | $8.28B | $7.48B | $10.24B | $4.08B | $2.91B | $5.12B | $5.35B | $4.28B | $5.17B | $4.46B |
| Pre-tax income | $4.53B | $6.04B | $7.29B | $3.83B | $3.17B | $2.41B | $3.84B | $7.35B | $4.66B | $4.38B |
| Income tax | $802.0M | $339.0M | $1.01B | $586.0M | $348.0M | $44.0M | $448.0M | $1.58B | $660.0M | $1.38B |
| Net income | $6.83B | $6.95B | $7.31B | $4.15B | $3.57B | $2.92B | $3.77B | $6.64B | $5.38B | $2.91B |
| EPS, basic | 3.31 | 3.38 | 3.61 | 2.10 | 1.82 | 1.49 | 1.95 | 3.51 | 11.48 | 6.27 |
| EPS, diluted | 3.30 | 3.37 | 3.60 | 2.10 | 1.81 | 1.48 | 1.94 | 3.47 | 11.39 | 6.24 |
| Shares, diluted (wtd. avg.) | $2.07B | $2.06B | $2.03B | $1.98B | $1.97B | $1.97B | $1.94B | $1.91B | $472.5M | $465.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.81B | $1.49B | $3.42B | $3.44B | $1.32B | $1.55B | $1.11B | $5.25B | $1.98B | $1.53B |
| Receivables | $4.02B | $3.34B | $3.61B | $4.35B | $3.38B | $2.26B | $2.28B | $2.30B | $2.22B | $1.78B |
| Inventory | $2.42B | $2.21B | $2.11B | $1.93B | $1.56B | $1.55B | $1.33B | $1.22B | $1.27B | $1.29B |
| Total current assets | $13.58B | $11.95B | $15.36B | $13.49B | $9.29B | $7.38B | $7.41B | $6.39B | $7.18B | $7.41B |
| Property, plant and equipment | $156.20B | $138.85B | $125.78B | $111.06B | $99.35B | $91.80B | $82.01B | $70.33B | $72.29B | $66.91B |
| Goodwill | $4.85B | $4.87B | $5.09B | $4.85B | $4.84B | $4.25B | $4.20B | $891.0M | $764.0M | $779.0M |
| Other intangibles | $1.63B | $1.58B | $1.56B | $623.0M | $606.0M | $558.0M | $417.0M | $573.0M | $1.15B | $1.11B |
| Total assets | $212.72B | $190.14B | $177.49B | $158.94B | $140.91B | $127.68B | $117.69B | $103.70B | $97.96B | $90.47B |
| Short-term debt | $3.50B | $8.06B | $6.90B | $6.63B | $1.78B | $4.14B | $2.12B | $2.72B | $1.67B | $2.60B |
| Total current liabilities | $22.82B | $25.36B | $27.96B | $26.70B | $17.44B | $15.56B | $13.85B | $17.56B | $11.24B | $10.92B |
| Long-term debt | $89.56B | $72.39B | $61.41B | $55.26B | $50.96B | $41.94B | $37.54B | $26.78B | $31.41B | $27.82B |
| Total liabilities | $146.24B | $129.28B | $118.47B | $109.50B | $95.24B | $82.75B | $75.84B | — | — | — |
| Retained earnings | $35.10B | $32.95B | $30.23B | $26.71B | $25.91B | $25.36B | $25.20B | $23.84B | $19.02B | $15.46B |
| Total equity | $54.61B | $50.10B | $57.77B | $48.33B | $45.42B | $44.93B | $41.36B | $37.41B | $29.53B | $25.36B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $12.48B | $13.26B | $11.30B | $8.26B | $7.55B | $7.98B | $8.15B | $6.59B | $6.46B | $6.37B |
| Investing cash flow | -$23.86B | -$22.26B | -$23.47B | -$18.36B | -$13.59B | -$13.70B | -$16.18B | -$10.95B | -$8.92B | -$8.05B |
| Financing cash flow | $12.98B | $7.00B | $12.15B | $12.23B | $5.81B | $6.17B | $3.87B | $7.63B | $2.89B | $2.42B |
| Dividends paid | $4.68B | $4.24B | $3.78B | $3.35B | $3.02B | $2.74B | $2.41B | $2.10B | $1.84B | $1.61B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000753308-26-000015.
Others in SIC 4911
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CEG | Constellation Energy Corp | $105.92B | 40.4x | 19.5% |
| AEP | AMERICAN ELECTRIC POWER CO INC | $67.74B | 18.7x | 8.7% |
| D | DOMINION ENERGY, INC | $57.90B | 19.1x | 16.5% |
| VST | Vistra Corp. | $50.11B | 68.5x | 19.1% |
| DTE | DTE ENERGY CO | $28.31B | 19.4x | — |
| FE | FIRSTENERGY CORP | $27.05B | 26.6x | 12.0% |
| ES | EVERSOURCE ENERGY | $26.76B | 15.6x | 14.3% |
| PPL | PPL Corp | $26.42B | 22.1x | 8.6% |