A Business at a Glance
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NEXTERA ENERGY INC
NEE
$186.0B
Mkt Cap
$89.78
-0.01%
NEXTERA ENERGY INC (NEE) has a current P/E ratio of 22.8, compared to its historical median P/E of 22.4. The stock is currently considered Fair based on its historical valuation range.
NEXTERA ENERGY INC (NEE) has a 5-year average return on invested capital (ROIC) of 5.2%. This is below average and may indicate limited pricing power.
NEXTERA ENERGY INC (NEE) has a market capitalization of $187.2B. It is classified as a large-cap stock.
Yes, NEXTERA ENERGY INC (NEE) pays a dividend with a trailing twelve-month yield of 2.57%.
Based on historical P/E analysis, NEXTERA ENERGY INC (NEE) appears fair. The current P/E of 22.8 is 2% above its historical median of 22.4. The estimated fair value CAGR (P/E method) is 9.6%.
NEXTERA ENERGY INC (NEE) operates in the Electric Services industry, within the Utilities sector.
NEXTERA ENERGY INC (NEE) reported annual revenue of $27.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
NextEra Energy (NEE) is one of North America's largest electric power and energy infrastructure companies, operating approximately 80 gigawatts of net generation and storage capacity through two principal businesses: FPL, the largest electric utility in Florida and the U.S., and NEER, one of the largest energy infrastructure developers in the U.S. FPL generates revenue primarily from retail electric customers in Florida through a rate-regulated model, serving more than six million customer accounts across approximately 93,000 circuit miles of transmission and distribution lines, with generation sourced from a diversified portfolio including natural gas, nuclear, solar, and battery storage facilities. NEER develops, constructs, and operates long-term contracted generation facilities including renewables, nuclear, and natural gas assets, as well as battery storage, while also building and owning regulated electric and gas transmission assets and providing gas and power supply services to utilities and businesses across the U.S. NEE's competitive strategy centers on delivering superior customer value through low bills, high reliability, and diverse energy sources, with FPL maintaining a cost-of-service advantage over self-generation for most customers and NEER benefiting from long-term power purchase agreements that provide revenue visibility. The company employs approximately 17,400 people and leverages a shared platform between its two businesses to reduce costs, improve efficiency, and drive innovation through advanced technologies including artificial intelligence.
【Strong growth visibility ahead】 Management expects FPL to invest between $90 billion and $100 billion through 2032 to support Florida's growing economy while maintaining its track record of keeping customer bills low, with typical residential bills expected to increase only about 2% annually between 2025 and 2029. Energy Resources continues to expand its regulated transmission portfolio, with combined electric and gas transmission business expected to grow to $20 billion of total regulated and invested capital by 2032 at a 20% compound annual growth rate, while the company's 30-gigawatt backlog of long-term contracted renewables and storage projects provides visibility into continued growth. Management is accelerating artificial intelligence deployment across the enterprise and has entered into a strategic technology partnership with Google Cloud to redefine the electric industry, with expectations to launch the first product at an industry event in early 2026. The company expects to grow adjusted earnings per share at a compound annual growth rate of 8% or more through 2032 and is targeting the same growth rate from 2032 through 2035, with average annual operating cash flow growth expected to be at or above the earnings per share growth rate.
| Metric | Target | Period |
|---|---|---|
| FPL Capital Expenditures | $90 billion to $100 billion | Through 2032 |
| Adjusted Earnings Per Share | $3.92 to $4.02 | FY2026 |
| Adjusted Earnings Per Share CAGR | 8% or more | 2025 to 2032 |
| Adjusted Earnings Per Share CAGR | 8% or more | 2032 to 2035 |
| Dividend Per Share Growth | 6% per year | Year-end 2026 through 2028 |
| Combined Electric and Gas Transmission Regulated and Invested Capital | $20 billion | By 2032 |
| FPL Capital Expenditures | $12 billion to $13 billion | Full year 2026 |
FPL Capital Expenditures (Through 2032): “FPL expects to invest between $90 billion and $100 billion through 2032, primarily to support Florida's growth”
Adjusted Earnings Per Share (FY2026): “Our 2026 adjusted earnings per share expectations range of $3.92-$4.02 remains unchanged, and we are targeting the high end of that range.”
Adjusted Earnings Per Share CAGR (2025 to 2032): “We expect to grow adjusted earnings per share at a compound annual growth rate of +8% through 2032”
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 | 25.9B | 27.4B | 24.8B | 28.1B | 21.0B | 17.1B |
| Net Income | 8.2B | 6.8B | 6.9B | 7.3B | 4.1B | 3.6B |
| EPS | $3.94 | $3.30 | $3.37 | $3.60 | $2.10 | $1.81 |
| Free Cash Flow | 2.7B | 4.8B | 6.4B | 4.2B | -805M | 145M |
| ROIC | 6.0% | 6.0% | 5.8% | 8.1% | 3.5% | 2.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 1.79 | 1.74 | 1.64 | 1.54 | 1.61 | 1.44 |
| Dividends/Share | $2.31 | $2.27 | $2.06 | $1.87 | $1.70 | $1.54 |
| Operating Income | 8.2B | 8.3B | 7.5B | 10.2B | 4.1B | 2.9B |
| Operating Margin | 31.8% | 30.2% | 30.2% | 36.4% | 19.5% | 17.1% |
| ROE | 14.8% | 13.1% | 14.2% | 16.9% | 10.6% | 9.6% |
| Shares Outstanding | 2,085M | 2,071M | 2,061M | 2,031M | 1,975M | 1,974M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 17.0B | 17.5B | 16.2B | 17.2B | 16.7B | 19.2B | 18.0B | 17.1B | 21.0B | 28.1B | 24.8B | 27.4B | 25.9B |
| Gross Margin | 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 |
| 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 | 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 |
| EBIT | 4.4B | 4.6B | 4.6B | 5.2B | 4.3B | 5.4B | 5.1B | 2.9B | 4.1B | 10.2B | 7.5B | 8.3B | 8.2B |
| Op. Margin | 25.8% | 26.5% | 28.5% | 30.1% | 25.6% | 27.9% | 28.4% | 17.1% | 19.5% | 36.4% | 30.2% | 30.2% | 31.8% |
| Net Income | 2.5B | 2.8B | 2.9B | 5.4B | 6.6B | 3.8B | 2.9B | 3.6B | 4.1B | 7.3B | 6.9B | 6.8B | 8.2B |
| Net Margin | 14.5% | 15.7% | 18.0% | 31.3% | 39.7% | 19.6% | 16.2% | 20.9% | 19.8% | 26.0% | 28.1% | 24.9% | 31.6% |
| Non-Recurring | 11M | -2.0M | 47M | 446M | 11M | 72M | 0 | 0 | 0 | 530M | 515M | 439M | 439M |
| Returns on Capital | |||||||||||||
| ROIC | 6.3% | 6.3% | 6.0% | 8.9% | 5.0% | 6.2% | 6.1% | 2.9% | 3.5% | 8.1% | 5.8% | 6.0% | 6.0% |
| ROE | 12.4% | 12.2% | 12.0% | 19.1% | 19.4% | 10.2% | 8.0% | 9.6% | 10.6% | 16.9% | 14.2% | 13.1% | 14.8% |
| ROA | 3.3% | 3.3% | 3.2% | 5.5% | 6.4% | 3.2% | 2.3% | 2.5% | 2.6% | 4.3% | 3.8% | 3.4% | 3.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 5.5B | 6.1B | 6.3B | 6.5B | 6.6B | 8.2B | 8.0B | 7.6B | 8.3B | 11.3B | 13.3B | 12.5B | 12.3B |
| Free Cash Flow | 2.4B | 2.7B | 2.5B | 1.3B | 1.6B | 2.6B | 1.5B | 145M | -805M | 4.2B | 6.4B | 4.8B | 2.7B |
| Owner Earnings | 2.9B | 3.2B | 3.1B | 4.0B | 2.6B | 3.8B | 3.8B | 3.5B | 3.6B | 5.3B | 7.7B | 5.7B | 5.3B |
| CapEx | 3.1B | 3.4B | 3.8B | 5.2B | 5.0B | 5.6B | 6.5B | 7.4B | 9.1B | 7.1B | 6.8B | 7.6B | 9.6B |
| Maint. CapEx | 2.6B | 2.8B | 3.1B | 2.4B | 3.9B | 4.2B | 4.1B | 3.9B | 4.5B | 5.9B | 5.5B | 6.6B | 6.9B |
| Growth CapEx | 516M | 597M | 699M | 2.8B | 1.1B | 1.3B | 2.4B | 3.5B | 4.6B | 1.2B | 1.4B | 1.1B | 2.7B |
| D&A | 2.6B | 2.8B | 3.1B | 2.4B | 3.9B | 4.2B | 4.1B | 3.9B | 4.5B | 5.9B | 5.5B | 6.6B | 6.9B |
| CapEx/OCF | 55.8% | 56.0% | 60.0% | 80.1% | 76.0% | 68.2% | 81.1% | 98.1% | 109.7% | 82.3% | 60.3% | 69.8% | 77.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 1.3B | 1.4B | 1.6B | 1.8B | 2.1B | 2.4B | 2.7B | 3.0B | 3.4B | 3.8B | 4.2B | 4.7B | 4.8B |
| Dividend Yield | 4.1% | 3.9% | 3.7% | 3.5% | 3.2% | 2.8% | 2.4% | 2.2% | 2.3% | 2.9% | 3.0% | 3.1% | 2.6% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 60M | 60M | 77M | 76M | 82M | 100M | 107M | 119M | 142M | 139M | 138M | 185M | 185M |
| Debt Repayment | 4.8B | 4.0B | 3.3B | 6.8B | 3.1B | 5.5B | 6.1B | 9.6B | 4.5B | 8.0B | 10.1B | 10.3B | 10.3B |
| Balance Sheet | |||||||||||||
| Net Debt | 27.5B | 28.1B | 28.1B | 29.9B | 33.7B | 38.9B | 45.4B | 52.2B | 60.1B | 70.3B | 80.6B | 92.2B | 97.0B |
| Cash & Equiv. | 577M | 571M | 1.3B | 1.7B | 638M | 600M | 1.1B | 639M | 1.6B | 2.7B | 1.5B | 2.8B | 2.0B |
| Long-Term Debt | 24.0B | 26.7B | 27.8B | 31.4B | 26.8B | 37.5B | 41.9B | 51.0B | 55.3B | 61.4B | 72.4B | 89.6B | 93.9B |
| Debt/Equity | 1.44 | 1.30 | 1.26 | 1.18 | 1.02 | 1.08 | 1.30 | 1.44 | 1.61 | 1.54 | 1.64 | 1.74 | 1.79 |
| Interest Coverage | 3.5 | 3.8 | 4.2 | 3.3 | 2.9 | 2.4 | 2.6 | 2.3 | 7.0 | 4.2 | 2.7 | 2.4 | 2.4 |
| Equity | 19.9B | 22.6B | 24.3B | 28.2B | 34.1B | 37.0B | 36.5B | 37.2B | 39.2B | 47.5B | 50.1B | 54.6B | 55.2B |
| Total Assets | 74.6B | 82.5B | 90.0B | 98.0B | 103.7B | 117.7B | 127.7B | 140.9B | 158.9B | 177.5B | 190.1B | 212.7B | 221.4B |
| Total Liabilities | 54.4B | 59.4B | 64.7B | 68.4B | 66.3B | 75.8B | 82.8B | 95.2B | 109.5B | 118.5B | 129.3B | 146.2B | 154.8B |
| Intangibles | 362M | 1.1B | 1.1B | 1.1B | 573M | 417M | 558M | 606M | 623M | 1.6B | 1.6B | 1.6B | 1.6B |
| Retained Earnings | 12.8B | 14.1B | 15.5B | 19.0B | 23.8B | 25.2B | 25.4B | 25.9B | 26.7B | 30.2B | 32.9B | 35.1B | 36.0B |
| Working Capital | -2.7B | -3.3B | -3.5B | -4.1B | -11.2B | -6.4B | -8.2B | -8.1B | -13.2B | -12.6B | -13.4B | -9.2B | -11.7B |
| Current Assets | 6.9B | 6.8B | 7.4B | 7.2B | 6.4B | 7.4B | 7.4B | 9.3B | 13.5B | 15.4B | 12.0B | 13.6B | 13.9B |
| Current Liabilities | 9.7B | 10.1B | 10.9B | 11.2B | 17.6B | 13.9B | 15.6B | 17.4B | 26.7B | 28.0B | 25.4B | 22.8B | 25.6B |
| Per Share Data | |||||||||||||
| EPS | 1.40 | 1.52 | 1.56 | 2.85 | 3.47 | 1.94 | 1.48 | 1.81 | 2.10 | 3.60 | 3.37 | 3.30 | 3.94 |
| Owner EPS | 1.64 | 1.78 | 1.68 | 2.13 | 1.36 | 1.98 | 1.94 | 1.78 | 1.83 | 2.60 | 3.72 | 2.76 | 2.54 |
| Book Value | 11.31 | 12.43 | 13.06 | 14.94 | 17.85 | 19.05 | 18.51 | 18.85 | 19.87 | 23.38 | 24.31 | 26.37 | 26.49 |
| Cash Flow/Share | 3.12 | 3.37 | 3.38 | 3.42 | 3.45 | 4.20 | 4.05 | 3.83 | 4.18 | 5.57 | 6.43 | 6.03 | 7.21 |
| Dividends/Share | 0.73 | 0.77 | 0.87 | 0.98 | 1.10 | 1.25 | 1.40 | 1.54 | 1.70 | 1.87 | 2.06 | 2.27 | 2.31 |
| Shares Out. | 1.8B | 1.8B | 1.9B | 1.9B | 1.9B | 1.9B | 2.0B | 2.0B | 2.0B | 2.0B | 2.1B | 2.1B | 2.1B |
| Valuation | |||||||||||||
| P/E Ratio | 14.6 | 13.2 | 15.0 | 11.2 | 10.4 | 26.8 | 44.6 | 45.2 | 36.0 | 15.9 | 20.6 | 24.2 | 22.8 |
| P/FCF | 14.8 | 13.5 | 17.4 | 46.8 | 43.7 | 38.9 | 86.4 | N/A | N/A | 27.6 | 22.3 | 34.2 | 68.4 |
| EV/EBIT | 14.5 | 13.9 | 15.6 | 17.4 | 24.0 | 26.1 | 34.3 | 73.4 | 51.3 | 17.9 | 29.7 | 30.8 | 34.5 |
| Price/Book | 1.8 | 1.6 | 1.8 | 2.1 | 2.0 | 2.7 | 3.6 | 4.3 | 3.8 | 2.4 | 2.9 | 3.0 | 3.4 |
| Price/Sales | 1.8 | 2.0 | 2.7 | 3.1 | 3.9 | 4.4 | 6.3 | 8.2 | 6.8 | 4.6 | 5.7 | 5.5 | 7.2 |
| FCF Yield | 6.8% | 7.4% | 5.7% | 2.1% | 2.3% | 2.6% | 1.2% | 0.1% | -0.5% | 3.6% | 4.5% | 2.9% | 1.5% |
| Market Cap | 35.9B | 36.3B | 43.8B | 60.1B | 69.1B | 100.9B | 130.1B | 161.6B | 149.5B | 116.0B | 143.2B | 165.4B | 187.2B |
| Avg. Price | 17.67 | 19.39 | 23.28 | 28.24 | 34.06 | 43.85 | 57.56 | 70.49 | 72.63 | 64.32 | 67.86 | 72.36 | 89.78 |
| Year-End Price | 20.38 | 19.99 | 23.49 | 31.82 | 36.10 | 51.92 | 65.98 | 81.89 | 75.69 | 57.11 | 69.46 | 79.87 | 89.78 |
NEXTERA ENERGY INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
NEXTERA ENERGY INC trades at 22.8x trailing earnings, compared to its 15-year median P/E of 22.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 64.4x vs a median of 36.5x. The company's 5-year average ROIC is 5.2%. Total shareholder yield (dividends) is 2.6%. At current prices, the estimated annualized return to fair value is +12.9%.
NEXTERA ENERGY INC (NEE) has a net profit margin of 24.9%. This is a strong margin indicating high profitability.
NEXTERA ENERGY INC (NEE) generated $4.8 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NEXTERA ENERGY INC (NEE) has a debt-to-equity ratio of 1.74. This indicates higher leverage, which may increase financial risk.
NEXTERA ENERGY INC (NEE) reported earnings per share (EPS) of $3.30 in its most recent fiscal year.
NEXTERA ENERGY INC (NEE) has a return on equity (ROE) of 13.1%. This indicates moderate shareholder returns.
The Ledger Terminal provides 19 years of financial data for NEXTERA ENERGY INC (NEE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NEXTERA ENERGY INC (NEE) has a book value per share of $26.37, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects FPL to invest between $90 billion and $100 billion through 2032 to support Florida's growing economy while maintaining its track record of keeping customer bills low, with typical residential bills expected to increase only about 2% annually between 2025 and 2029. Energy Resources continues to expand its regulated transmission portfolio, with combined electric and gas transmission business expected to grow to $20 billion of total regulated and invested capital by 2032 at a 20% compound annual growth rate, while the company's 30-gigawatt backlog of long-term contracted renewables and storage projects provides visibility into continued growth. Management is accelerating artificial intelligence deployment across the enterprise and has entered into a strategic technology partnership with Google Cloud to redefine the electric industry, with expectations to launch the first product at an industry event in early 2026. The company expects to grow adjusted earnings per share at a compound annual growth rate of 8% or more through 2032 and is targeting the same growth rate from 2032 through 2035, with average annual operating cash flow growth expected to be at or above the earnings per share growth rate.
Based on recent SEC filings and earnings calls, NEXTERA ENERGY INC (NEE) has provided the following forward guidance: FPL Capital Expenditures: $90 billion to $100 billion (Through 2032); Adjusted Earnings Per Share: $3.92 to $4.02 (FY2026); Adjusted Earnings Per Share CAGR: 8% or more (2025 to 2032); Adjusted Earnings Per Share CAGR: 8% or more (2032 to 2035); Dividend Per Share Growth: 6% per year (Year-end 2026 through 2028), plus 2 additional metrics.
Adjusted Earnings Per Share CAGR (2032 to 2035): “we are targeting the same from 2032 through 2035”
Dividend Per Share Growth (Year-end 2026 through 2028): “and 6% per year from year-end 2026 through 2028”
Combined Electric and Gas Transmission Regulated and Invested Capital (By 2032): “we expect our combined electric and gas transmission business at Energy Resources to grow to $20 billion of total regulated and investment capital by 2032, a 20% compound annual growth rate off a 2025 base”
FPL Capital Expenditures (Full year 2026): “we expect FPL's full year capital investments to be between $12 billion and $13 billion”