A Business at a Glance
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Duke Energy CORP
DUK
$101.6B
Mkt Cap
$130.52
+0.97%
Duke Energy CORP (DUK) has a current P/E ratio of 20.7, compared to its historical median P/E of 18.0. The stock is currently considered Fair based on its historical valuation range.
Duke Energy CORP (DUK) has a 5-year average return on invested capital (ROIC) of 5.1%. This is below average and may indicate limited pricing power.
Duke Energy CORP (DUK) has a market capitalization of $101.5B. It is classified as a large-cap stock.
Yes, Duke Energy CORP (DUK) pays a dividend with a trailing twelve-month yield of 3.29%.
Based on historical P/E analysis, Duke Energy CORP (DUK) appears fair. The current P/E of 20.7 is 15% above its historical median of 18.0. The estimated fair value CAGR (P/E method) is 4.4%.
Duke Energy CORP (DUK) operates in the Electric & Other Services Combined industry, within the Utilities sector.
Duke Energy CORP (DUK) reported annual revenue of $32.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Duke Energy is a regulated electric and gas utility company headquartered in Charlotte, North Carolina, operating through two primary segments: Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I). EU&I provides retail electric service to approximately 8.7 million customers across approximately 90,000 square miles in six states in the Southeast and Midwest, generating electricity through a balanced portfolio of natural gas, nuclear, and coal resources, supplemented by purchased power and renewable sources including hydroelectric and solar. The company operates as the sole supplier of electricity within most service territories, with the exception of Ohio's competitive generation market, and earns revenue through state commission-approved rates designed to recover operating costs and provide a reasonable return on invested capital. EU&I's customer base comprises residential, commercial, and industrial segments, with retail sales representing the majority of revenues, supplemented by wholesale energy sales to municipalities, cooperatives, and other utilities. The company's competitive position is supported by its regulated utility model, which provides stable, predictable cash flows, and by its extensive generation capacity of approximately 55,713 MW, combined with long-term fuel supply contracts for natural gas, nuclear materials, and coal that secure supply through the late 2020s and early 2030s. Duke Energy is pursuing strategic growth through economic development projects, including data center infrastructure, and is advancing a multi-year capital investment plan to modernize its grid and add new generation capacity to meet accelerating customer demand.
【Economic development accelerating growth】 Management expects accelerated earnings growth beginning in 2028 as large-scale economic development projects, particularly data centers secured under long-term energy supply agreements, begin taking energy and ramping into full contracted loads through the early 2030s. The company is advancing approximately 14 GW of incremental generation over the next five years and has secured 4.5 GW of signed energy supply agreements with additional prospects in the pipeline, providing high confidence in load forecasts and revenue durability. Duke Energy is executing a $103 billion capital plan—the largest among regulated utilities—to support grid modernization, generation build-out, and infrastructure investments, with constructive regulatory outcomes across multiple jurisdictions supporting rate recovery and financial performance. The company is monetizing clean energy tax credits to flow proceeds back to customers to help manage rate pressures, and expects to maintain financial discipline with FFO to debt targeting 15% long-term while funding growth through a combination of transaction proceeds and modest equity issuances.
| Metric | Target | Period |
|---|---|---|
| Earnings per share (EPS) | $6.55–$6.80 | FY2026 |
| Clean energy tax credits monetization | Up to $3.1 billion | Through 2028 |
Earnings per share (EPS) (FY2026): “We are on track to achieve our 2026 guidance range of $6.55-$6.80”
Clean energy tax credits monetization (Through 2028): “we reached a multi-year agreement to monetize up to $3.1 billion of clean energy tax credits expected to be generated through 2028”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 32.5B | 32.2B | 30.4B | 29.1B | 28.8B | 24.6B |
| Net Income | 5.1B | 4.9B | 4.4B | 2.7B | 2.4B | 3.8B |
| EPS | $6.53 | $6.31 | $5.71 | $3.54 | $3.17 | $4.94 |
| Free Cash Flow | -3.3B | -1.7B | 48M | -2.7B | -5.4B | -1.4B |
| ROIC | 5.7% | 5.7% | 5.4% | 5.1% | 4.6% | 4.5% |
| Gross Margin | - | 79.2% | 49.4% | 47.7% | 43.0% | 76.8% |
| Debt/Equity | 1.66 | 1.73 | 1.68 | 1.62 | 1.49 | 1.36 |
| Dividends/Share | $4.30 | $4.22 | $4.14 | $4.06 | $3.98 | $3.90 |
| Operating Income | 9.0B | 8.6B | 7.9B | 7.1B | 6.0B | 5.5B |
| Operating Margin | 27.7% | 26.8% | 26.1% | 24.3% | 20.9% | 22.3% |
| ROE | 9.3% | 9.6% | 8.8% | 5.6% | 5.0% | 7.7% |
| Shares Outstanding | 778M | 778M | 771M | 773M | 771M | 770M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 22.5B | 22.4B | 22.7B | 23.6B | 24.5B | 25.1B | 23.9B | 24.6B | 28.8B | 29.1B | 30.4B | 32.2B | 32.5B |
| Gross Margin | 39.1% | 40.5% | 70.9% | 73.1% | 72.1% | 72.8% | 75.7% | 76.8% | 43.0% | 47.7% | 49.4% | 79.2% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 14.7B | 14.2B | 10.9B | 11.6B | 13.0B | 12.5B | 13.5B | 13.4B | 17.0B | 16.4B | 17.0B | 16.9B | 16.9B |
| EBIT | 4.8B | 5.1B | 5.2B | 5.6B | 4.7B | 5.7B | 4.6B | 5.5B | 6.0B | 7.1B | 7.9B | 8.6B | 9.0B |
| Op. Margin | 21.5% | 22.7% | 22.9% | 23.9% | 19.1% | 22.8% | 19.1% | 22.3% | 20.9% | 24.3% | 26.1% | 26.8% | 27.7% |
| Net Income | 1.9B | 2.8B | 2.2B | 3.1B | 2.7B | 3.7B | 1.3B | 3.8B | 2.4B | 2.7B | 4.4B | 4.9B | 5.1B |
| Net Margin | 8.4% | 12.6% | 9.5% | 13.0% | 10.9% | 14.8% | 5.3% | 15.4% | 8.5% | 9.4% | 14.5% | 15.2% | 15.6% |
| Non-Recurring | 86M | 280M | 155M | 327M | 513M | 28M | 995M | 401M | 55M | 132M | 54M | 53M | 53M |
| Returns on Capital | |||||||||||||
| ROIC | 4.0% | 5.7% | 5.6% | 4.3% | 4.0% | 4.7% | 4.2% | 4.5% | 4.6% | 5.1% | 5.4% | 5.7% | 5.7% |
| ROE | 4.6% | 13.8% | 10.5% | 7.3% | 6.1% | 7.9% | 2.6% | 7.7% | 5.0% | 5.6% | 8.8% | 9.6% | 9.3% |
| ROA | 1.6% | 2.3% | 1.7% | 2.2% | 1.8% | 2.3% | 0.8% | 2.2% | 1.4% | 1.5% | 2.4% | 2.6% | 2.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 6.6B | 6.7B | 6.9B | 6.6B | 7.2B | 8.2B | 8.9B | 8.3B | 5.9B | 9.9B | 12.3B | 12.3B | 11.7B |
| Free Cash Flow | 1.2B | -66M | -1.0B | -1.4B | -2.2B | -2.9B | -1.1B | -1.4B | -5.4B | -2.7B | 48M | -1.7B | -3.3B |
| Owner Earnings | 3.0B | 3.0B | 2.9B | 2.5B | 2.4B | 2.9B | 3.3B | 2.5B | -16M | 3.7B | 5.8B | 4.5B | 3.7B |
| CapEx | 5.4B | 6.8B | 7.9B | 8.1B | 9.4B | 11.1B | 9.9B | 9.7B | 11.4B | 12.6B | 12.3B | 14.0B | 15.0B |
| Maint. CapEx | 3.5B | 3.6B | 3.9B | 4.0B | 4.7B | 5.2B | 5.5B | 5.7B | 5.8B | 6.1B | 6.4B | 7.7B | 7.9B |
| Growth CapEx | 1.9B | 3.2B | 4.0B | 4.0B | 4.7B | 5.9B | 4.4B | 4.1B | 5.5B | 6.5B | 5.9B | 6.3B | 7.1B |
| D&A | 3.5B | 3.6B | 3.9B | 4.0B | 4.7B | 5.2B | 5.5B | 5.7B | 5.8B | 6.1B | 6.4B | 7.7B | 7.9B |
| CapEx/OCF | 81.7% | 101.3% | 115.9% | 121.6% | 130.7% | 135.5% | 111.9% | 117.2% | 191.8% | 127.6% | 99.6% | 113.7% | 128.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 2.2B | 2.3B | 2.3B | 2.5B | 2.5B | 2.7B | 2.8B | 3.1B | 3.2B | 3.2B | 3.2B | 3.3B | 3.3B |
| Dividend Yield | 6.9% | 6.7% | 6.4% | 5.9% | 5.9% | 5.3% | 5.4% | 4.9% | 4.6% | 5.0% | 4.2% | 3.7% | 3.3% |
| Share Buybacks | 0 | 1.5B | 0 | 1.5B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 4.6% | 4.1% | 3.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 61M | 61M | 55M | 68M | 78M | 89M | 84M | 88M | 100M | 97M | 96M | 102M | 102M |
| Debt Repayment | 3.0B | 3.0B | 1.9B | 2.3B | 2.9B | 3.5B | 4.5B | 5.3B | 4.4B | 4.7B | 3.4B | 5.7B | 5.7B |
| Balance Sheet | |||||||||||||
| Net Debt | 39.9B | 39.8B | 47.8B | 51.8B | 55.1B | 58.3B | 59.5B | 63.6B | 70.5B | 76.3B | 80.6B | 85.2B | 82.7B |
| Cash & Equiv. | 463M | 383M | 392M | 358M | 442M | 311M | 259M | 341M | 409M | 253M | 314M | 245M | 7.6B |
| Long-Term Debt | 37.1B | 36.8B | 45.6B | 49.0B | 51.1B | 55.0B | 55.6B | 60.4B | 65.9B | 72.5B | 76.3B | 80.1B | 80.5B |
| Debt/Equity | 1.04 | -42501.00 | 1.23 | 1.30 | 1.32 | 1.31 | 1.31 | 1.36 | 1.49 | 1.62 | 1.68 | 1.73 | 1.66 |
| Interest Coverage | 3.2 | 3.3 | 2.7 | 2.8 | 2.2 | 2.6 | 2.1 | 2.5 | 2.5 | 2.3 | 2.3 | 2.4 | 2.4 |
| Equity | 40.9B | -1.0M | 41.0B | 41.7B | 43.8B | 46.8B | 48.0B | 49.3B | 49.3B | 49.1B | 50.1B | 51.8B | 54.5B |
| Total Assets | 120.6B | 121.2B | 132.8B | 137.9B | 145.4B | 158.8B | 162.4B | 169.6B | 178.1B | 176.9B | 186.3B | 195.7B | 198.0B |
| Total Liabilities | 79.7B | 121.1B | 91.7B | 96.2B | 101.6B | 110.9B | 113.2B | 118.5B | 126.2B | 126.7B | 135.1B | 142.7B | 1.8B |
| Intangibles | 263M | 242M | 226M | 230M | 246M | 249M | 295M | 304M | 265M | 282M | 277M | 291M | 291M |
| Retained Earnings | 2.0B | 2.6B | 2.4B | 3.0B | 3.1B | 4.1B | 2.5B | 3.3B | 2.6B | 2.2B | 3.4B | 5.1B | 5.8B |
| Working Capital | 342M | -3.1B | -3.5B | -4.0B | -5.3B | -5.6B | -7.6B | -6.0B | -5.7B | -4.5B | -6.4B | -9.4B | -6.9B |
| Current Assets | 11.6B | 8.3B | 8.0B | 8.5B | 9.7B | 9.2B | 8.7B | 9.9B | 13.2B | 12.8B | 12.9B | 11.6B | 13.4B |
| Current Liabilities | 11.2B | 11.4B | 11.6B | 12.5B | 15.0B | 14.8B | 16.3B | 15.9B | 18.9B | 17.3B | 19.4B | 21.0B | 20.3B |
| Per Share Data | |||||||||||||
| EPS | 2.66 | 4.05 | 3.11 | 4.36 | 3.76 | 5.06 | 1.72 | 4.94 | 3.17 | 3.54 | 5.71 | 6.31 | 6.53 |
| Owner EPS | 4.26 | 4.35 | 4.23 | 3.58 | 3.40 | 4.02 | 4.45 | 3.30 | -0.02 | 4.79 | 7.54 | 5.81 | 4.71 |
| Book Value | 57.74 | -0.00 | 59.30 | 59.49 | 61.80 | 63.91 | 64.96 | 64.05 | 63.97 | 63.57 | 65.02 | 66.60 | 70.00 |
| Cash Flow/Share | 9.30 | 9.64 | 9.92 | 9.44 | 10.13 | 11.21 | 11.99 | 10.77 | 7.69 | 12.79 | 15.99 | 15.84 | 16.68 |
| Dividends/Share | 3.16 | 3.24 | 3.36 | 3.49 | 3.64 | 3.75 | 3.82 | 3.90 | 3.98 | 4.06 | 4.14 | 4.22 | 4.30 |
| Shares Out. | 707.9M | 695.3M | 692.0M | 701.6M | 709.0M | 732.6M | 738.4M | 769.6M | 771.0M | 772.6M | 770.9M | 778.4M | 778.0M |
| Valuation | |||||||||||||
| P/E Ratio | 20.3 | 11.7 | 17.0 | 13.8 | 17.1 | 14.0 | 42.8 | 17.9 | 28.6 | 25.2 | 18.2 | 18.4 | 20.0 |
| P/FCF | 31.8 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | 15.8 | 14.3 | 15.8 | 16.7 | 21.5 | 19.3 | 25.0 | 24.0 | 23.3 | 20.5 | 20.3 | 20.4 | 20.5 |
| Price/Book | 0.9 | 0.8 | 0.9 | 1.0 | 1.0 | 1.1 | 1.1 | 1.4 | 1.4 | 1.4 | 1.6 | 1.7 | 1.9 |
| Price/Sales | 1.3 | 1.5 | 1.6 | 1.8 | 1.7 | 2.0 | 2.2 | 2.6 | 2.4 | 2.2 | 2.5 | 2.8 | 3.1 |
| FCF Yield | 3.1% | -0.2% | -2.8% | -3.4% | -4.8% | -5.6% | -1.9% | -2.1% | -7.8% | -4.0% | 0.1% | -1.9% | -3.2% |
| Market Cap | 38.2B | 32.9B | 36.6B | 42.1B | 45.7B | 52.0B | 54.3B | 68.2B | 69.9B | 68.8B | 79.9B | 90.4B | 101.5B |
| Avg. Price | 45.47 | 48.13 | 52.85 | 58.91 | 58.60 | 68.65 | 70.04 | 82.39 | 90.06 | 84.51 | 98.59 | 115.85 | 130.52 |
| Year-End Price | 54.02 | 47.27 | 52.83 | 60.04 | 64.45 | 71.04 | 73.56 | 88.61 | 90.61 | 89.11 | 103.68 | 116.19 | 130.52 |
Duke Energy CORP passes 4 of 9 quality checks, suggesting mixed fundamentals.
Duke Energy CORP trades at 20.7x trailing earnings, compared to its 15-year median P/E of 18.0x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 5.1% with a gross margin of 59.2%. Total shareholder yield (dividends) is 3.3%. At current prices, the estimated annualized return to fair value is +4.4%.
Duke Energy CORP (DUK) has a net profit margin of 15.2%. This is a healthy margin.
Duke Energy CORP (DUK) generated $-1.7 billion in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Duke Energy CORP (DUK) has a debt-to-equity ratio of 1.73. This indicates higher leverage, which may increase financial risk.
Duke Energy CORP (DUK) reported earnings per share (EPS) of $6.31 in its most recent fiscal year.
Duke Energy CORP (DUK) has a return on equity (ROE) of 9.6%. This indicates moderate shareholder returns.
Duke Energy CORP (DUK) has a 5-year average gross margin of 59.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 19 years of financial data for Duke Energy CORP (DUK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Duke Energy CORP (DUK) has a book value per share of $66.60, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects accelerated earnings growth beginning in 2028 as large-scale economic development projects, particularly data centers secured under long-term energy supply agreements, begin taking energy and ramping into full contracted loads through the early 2030s. The company is advancing approximately 14 GW of incremental generation over the next five years and has secured 4.5 GW of signed energy supply agreements with additional prospects in the pipeline, providing high confidence in load forecasts and revenue durability. Duke Energy is executing a $103 billion capital plan—the largest among regulated utilities—to support grid modernization, generation build-out, and infrastructure investments, with constructive regulatory outcomes across multiple jurisdictions supporting rate recovery and financial performance. The company is monetizing clean energy tax credits to flow proceeds back to customers to help manage rate pressures, and expects to maintain financial discipline with FFO to debt targeting 15% long-term while funding growth through a combination of transaction proceeds and modest equity issuances.
Based on recent SEC filings and earnings calls, Duke Energy CORP (DUK) has provided the following forward guidance: Earnings per share (EPS): $6.55–$6.80 (FY2026); Clean energy tax credits monetization: Up to $3.1 billion (Through 2028).