NextEra Energy, Inc. (NEE) financials
NYSE · Utilities · Regulated Electric · 17,400 employees · CEO John W. Ketchum
- Price
- $83.71 +1.91%
- Market cap
- $176B
- Enterprise value
- $284B
- Last report
- Q3 '26 filed 2026-10-21
- Next report
- 2027-01-26 EPS est. $0.59
Revenue (TTM)$29.1B+10.8% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)29.7%+0.7 pp vs a year agoOperating income $8.66B
Net income (TTM)$11.6B+79.0% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$1.62B-152.6% vs a year agoCapex $16.4B
Diluted EPS (TTM)$5.56+77.1% vs a year agoSum of the last 4 quarters
Net cash-$108B-20.6% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $176B EV $284B
- Revenue
- $29.1B Trailing 12 months
- Revenue growth
- +11% FY2026 consensus
- Profit margin
- 39.9% Net income / revenue, TTM
- P/E
- 15.0× Forward 20.8× (FY2026)
- P/S
- 6.0× Price / sales, TTM
- EV / EBITDA
- 16.5× TTM
- Free cash flow
- -$1.62B Trailing 12 months
- Net income
- $11.6B Trailing 12 months
- Revenue estimate
- $30.5B FY2026 consensus
- Earnings
- 2027-01-26 Revenue est. $7.81B
- Dividend
- $2.44 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-21): revenue missed by 4.5%, EPS beat by 3.3%Revenue $8.09B vs $8.47B expected (-4.5%); EPS $1.24 vs $1.20 (+3.3%).
- Revenue growth slowing: 1.6% year on yearQ3 '26 revenue $8.09B, against an average of 12.7% over the four quarters before.
- Operating margin 29.7% (TTM), +0.7 pp on a year agoOperating income grew 13.4% while revenue grew 10.8%.
- 14.2% of pre-tax profit is non-operatingPre-tax income $10.1B vs operating income $8.66B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
- Capex 56.4% of revenue (a year ago 33.8%)$16.4B invested in the last 4 quarters (+84.8% on a year earlier). Free cash flow -$1.62B = -13.9% of net income.
- Diluted share count up 1.8% in a year2.1B diluted shares in Q3 '26, 2.06B a year earlier.
- Net debt $108BCash + short-term investments $5.58B, debt incl. leases $114B; a year ago net debt $89.9B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $8.09B | $7.97B | +1.6% |
| Gross margin | 32.4% | 66.2% | -33.8 pp |
| Operating income | $2.62B | $2.53B | +3.8% |
| Operating margin | 32.4% | 31.7% | +0.7 pp |
| Net income | $4.78B | $2.44B | +95.9% |
| Diluted EPS | $2.28 | $1.18 | +93.2% |
| Operating cash flow | $5.05B | $4.03B | +25.3% |
| Capex | $8.17B | $2.48B | +229.0% |
| Free cash flow | -$3.12B | $1.55B | -301.7% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $0 | $0 | – |
Reported vs consensus
2026-10-21| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $8.09B | $8.47B | -4.5% |
| EPS (as estimated) | $1.24 | $1.20 | +3.3% |
From the report of 2026-10-21 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Florida Power & Light Company | $14.6B | +4.3% | 85.3% | – | – | |
| NEER Segment | $2.52B | -1.9% | 14.7% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $14.8B
- Capex
- -$16.4B
- Buybacks
- $0
- Dividends
- -$5.09B
- Acquisitions
- $0
- Net debt issued
- $21.3B
- Stock-based compensation
- $0
- Free cash flow
- -$1.62B
- Returned to shareholders / FCF
- -314.7%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 15.0× | 30.7× | 16.8× – 51.3× |
| EV / EBITDA | 16.5× | 19.3× | 11.5× – 27.4× |
| EV / Sales | 9.7× | 10.1× | 6.9× – 13.9× |
| Price / FCF | -108.6× | 51.2× 3 of 5 years | 31.1× – 70.2× |
| Price / Book | 2.8× | 3.5× | 2.6× – 4.9× |
| FCF yield | -0.9% | 1.1% | -0.9% – 3.2% |
| Return on invested capital | 3.7% | 3.6% | 2.0% – 5.5% |
| Return on equity | 20.4% | 12.4% | 9.6% – 15.4% |
Analysts
Consensus target $92.64 (+10.7%)
range $56.00 – $110.00 · rating Buy
Strong buy0
Buy24
Hold11
Sell1
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $30.5B | +11.0% | $4.03 | +22.3% | 20.8× | 12 |
| FY2027 | $33.5B | +9.8% | $4.39 | +8.9% | 19.1× | 14 |
| FY2028 | $36.5B | +8.8% | $4.76 | +8.5% | 17.6× | 10 |
| FY2029 | $40.2B | +10.3% | $5.20 | +9.3% | 16.1× | 4 |
| FY2030 | $43.5B | +8.1% | $5.66 | +8.9% | 14.8× | 4 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 223 figures NextEra Energy, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable | $5.74B | $4.75B | +20.8% | $7.58B | $6.98B | +8.6% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $4.13B | $3.15B | +31.0% | $4.02B | $3.34B | +20.4% |
| Accounts Receivable, Allowance for Credit Loss, Current | $80M | $54M | +48.1% | $82M | $56M | +46.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$34M | -$114M | +70.2% | -$9M | -$126M | +92.9% |
| Additional Paid in Capital, Common Stock | $19.3B | $17.3B | +11.3% | $19.5B | $17.3B | +12.9% |
| Amortization of Intangible Assets | – | – | – | $65M | $62M | +4.8% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 8.3M | 72.3M | -88.5% | 59.6M | 33.9M | +75.8% |
| Asset Retirement Obligation | $3.69B2025-12-31 | $3.7B | -0.4% | $3.69B | $3.7B | -0.4% |
| Asset Retirement Obligation, Accretion Expense | – | – | – | $177M | $165M | +7.3% |
| Asset Retirement Obligation, Current | $16M2025-12-31 | $27M | -40.7% | $16M | $27M | -40.7% |
| Asset Retirement Obligation, Liabilities Incurred | – | – | – | $102M | $157M | -35.0% |
| Asset Retirement Obligation, Liabilities Settled | – | – | – | $53M | $75M | -29.3% |
| Asset Retirement Obligation, Revision of Estimate | – | – | – | -$239M | $14M | -1,807.1% |
| Asset Retirement Obligations, Noncurrent | $3.73B | $3.71B | +0.6% | $3.67B | $3.67B | -0.1% |
| Assets | $221B | $194B | +14.0% | $213B | $190B | +11.9% |
| Assets for Plan Benefits, Defined Benefit Plan | $2.92B | $2.55B | +14.7% | $2.87B | $2.5B | +14.9% |
| Assets, Current | $13.9B | $12.6B | +9.6% | $13.6B | $12B | +13.7% |
| Assets, Noncurrent | $199B2025-12-31 | $178B | +11.8% | $199B | $178B | +11.8% |
| Capital Expenditures Incurred but Not yet Paid | $6.13B | $4.18B | +46.6% | $7.65B | $6.84B | +11.9% |
| Cash and Cash Equivalents, at Carrying Value | $2B | $2.42B | -17.4% | $2.81B | $1.49B | +89.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.48B | $2.55B | -2.9% | $3.01B | $1.4B | +114.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$531M | $1.15B | -146.3% | $1.6B | -$2.02B | +179.5% |
| Collateral Already Posted, Aggregate Fair Value | $300M | $54M | +455.6% | $98M | $19M | +415.8% |
| Commercial Paper | $5.36B | $2.01B | +167.3% | $1.96B | $1.67B | +17.1% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.62 | $0.57 | +10.0% | $2.27 | $2.06 | +10.2% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 3.2B | 3.2B | 0.0% | 3.2B | 3.2B | 0.0% |
| Common Stock, Shares, Issued | 2.09B | – | – | 2.08B | 2.06B | +1.3% |
| Common Stock, Shares, Outstanding | 2.09B | 2.06B | +1.3% | 2.08B | 2.06B | +1.3% |
| Common Stock, Value, Issued | $21M | $21M | 0.0% | $21M | $21M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$494M | -$369M | -33.9% | -$1.5B | -$1.24B | -21.4% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2.16B | $845M | +155.3% | $6.95B | $6.97B | -0.3% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $1.66B | $476M | +249.4% | $5.45B | $5.74B | -5.0% |
| Construction in Progress, Gross | $28.8B | $21B | +37.5% | $24.6B | $21.7B | +13.4% |
| Construction Payable, Current | $2.93B | $1.92B | +52.7% | $2.97B | $2.35B | +26.4% |
| Contract with Customer, Liability, Current | $731M | $697M | +4.9% | $709M | $694M | +2.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $194M | $208M | -6.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $78M | $126M | -38.1% |
| Debt Securities, Available-for-sale, Amortized Cost | $4.04B | $3.82B | +5.9% | $4.18B | $3.72B | +12.4% |
| Decommissioning Fund Investments | $10.7B | $9.63B | +11.2% | $11B | $9.8B | +11.8% |
| Decommissioning Fund Investments, Fair Value | $10.7B | $9.62B | +11.2% | $11B | $9.8B | +11.8% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$1.25B | -$150M | -732.0% |
| Deferred Income Tax Expense (Benefit) | $409M | -$400M | +202.3% | $453M | $1.31B | -65.4% |
| Deferred Income Tax Liabilities, Net | $13.1B | $11.4B | +14.6% | $12.4B | $11.7B | +5.2% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $174M | $155M | +12.3% |
| Deferred Tax Assets, Net | $245M2025-12-31 | $221M | +10.9% | $245M | $221M | +10.9% |
| Deferred Tax Assets, Net of Valuation Allowance | $6.07B2025-12-31 | $5.37B | +13.0% | $6.07B | $5.37B | +13.0% |
| Deferred Tax Assets, Operating Loss Carryforwards | $278M2025-12-31 | $233M | +19.3% | $278M | $233M | +19.3% |
| Deferred Tax Assets, Other | $791M2025-12-31 | $652M | +21.3% | $791M | $652M | +21.3% |
| Deferred Tax Assets, Regulatory Assets and Liabilities | $1.12B2025-12-31 | $1.15B | -2.9% | $1.12B | $1.15B | -2.9% |
| Deferred Tax Assets, Tax Credit Carryforwards | $3.59B2025-12-31 | $3.06B | +17.5% | $3.59B | $3.06B | +17.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Asset Retirement Obligations | $257M2025-12-31 | $233M | +10.3% | $257M | $233M | +10.3% |
| Deferred Tax Assets, Valuation Allowance | $295M2025-12-31 | $266M | +10.9% | $295M | $266M | +10.9% |
| Deferred Tax Liabilities, Gross | $18.2B2025-12-31 | $16.9B | +7.6% | $18.2B | $16.9B | +7.6% |
| Deferred Tax Liabilities, Net | $12.1B2025-12-31 | $11.5B | +5.1% | $12.1B | $11.5B | +5.1% |
| Deferred Tax Liabilities, Other | $2.28B2025-12-31 | $2.17B | +4.9% | $2.28B | $2.17B | +4.9% |
| Deferred Tax Liabilities, Prepaid Expenses | $708M2025-12-31 | $637M | +11.1% | $708M | $637M | +11.1% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $12.4B2025-12-31 | $11.6B | +7.1% | $12.4B | $11.6B | +7.1% |
| Deferred Tax Liabilities, Regulatory Assets and Liabilities | $3.35B2025-12-31 | $3.59B | -6.8% | $3.35B | $3.59B | -6.8% |
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax | -$71M | -$67M | -6.0% | -$267M | -$235M | -13.6% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Not updated in the last refresh (older data or none shown): SEC segments.
Data as of 2026-11-01