Company profile · free preview
Constellation Energy Corporation
CEG · Updated 10/24/2026
Revenue
$25.5B
Fiscal 2025
Net income
$2.3B
Fiscal 2025
Free cash flow
$1.3B
Fiscal 2025
Net cash / (debt)
—
Fiscal 2025
Five-year financials
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Revenue | $25.5B | $23.6B | $24.9B | $24.4B |
| Net income | $2.3B | $3.7B | $1.6B | (160.0M) |
| Diluted EPS | — | — | — | — |
| Operating cash flow | $4.2B | (2.5B) | (5.3B) | (2.4B) |
| Free cash flow | $1.3B | (5.0B) | (7.7B) | (4.0B) |
| Cash | $3.6B | $3.0B | $368.0M | $422.0M |
| Total debt | — | — | — | — |
Where the cash went
Cumulative, fiscal 2022–2025, straight from the reported cash-flow statements.
Reinvested in capex
—
of operating cash flow
Returned to owners
—
of free cash flow (buybacks + dividends)
Diluted share count
—
change 2022–2025
| Operating cash flow | ($5.9B) |
| Capital expenditure | ($9.6B) |
| Free cash flow | ($15.5B) |
| Share buybacks | — |
| Dividends paid | — |
| Acquisitions (net) | — |
| Net debt issued / (repaid) | — |
| Stock-based compensation (non-cash) | — |
"—" means a year didn't report that line, so no total is shown rather than an estimate.
SEC filings
No filings stored yet.
Analyst overview
Constellation Energy Corporation is a leading competitive energy provider in the United States, primarily engaged in power generation and energy marketing. The company operates the nation's largest fleet of carbon-free nuclear power plants, alongside a diverse portfolio of hydro, wind, and solar assets. Its revenue is primarily generated through the sale of electricity, natural gas, and other energy-related products to wholesale and retail customers, positioning it as a significant player in the evolving energy transition.
Looking at recent financials, Constellation Energy shows a mixed, yet evolving, picture. Revenues have been relatively stable, moving from 24.4 billion in 2022 to 25.5 billion in 2025. Net income experienced a significant drop from 3.7 billion in 2024 to 2.3 billion in 2025, following a recovery from a 160 million net loss in 2022. Free cash flow saw a notable positive shift, moving from a negative 5.0 billion in 2024 to a positive 1.3 billion in 2025, supported by improved operating cash flow of 4.2 billion. Cash balances have steadily increased from 368 million in 2023 to 3.6 billion in 2025.
Key strengths for Constellation include its large, carbon-free nuclear fleet, which provides a stable baseload power source and positions the company favorably amidst decarbonization efforts. However, the energy sector remains subject to volatile commodity prices and significant regulatory oversight, posing ongoing risks. Investors will be closely watching the company's continued free cash flow generation and how it manages its capital expenditures and debt, particularly given the historical volatility in cash flow metrics.
AI-generated from published financials and filings · 10/24/2026. Not investment advice.
Ask anything about Constellation Energy Corporation's filings
"What changed since last year?" "Where is the cash going?" Get answers drawn straight from the filings.
Start researching free