Constellation Energy CEG financials
Utilities & Power ยท Statements and segments from its SEC filings, 2020 to 2025.
Constellation Energy revenue, gross and operating margin, net income, free cash flow, cash and debt by quarter and by fiscal year, and revenue by segment, read from the company's own filings with the US Securities and Exchange Commission. Free to everyone; the Risk & Quality report that scores the company is the paid step.
- revenue by segment: Mid-Atlantic, Midwest, Other Power Regions, New York, Ercot, Competitive Businesses Natural Gas Revenues, Calpine, Competitive Businesses Other Revenues, Other / unallocated
- revenue by product: Total Power revenues, Gas revenues, Other revenues, Other / unallocated
The numbers
Annual figures
| Line | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $17.6B | $19.6B | $24.4B | $24.9B | $23.6B | $25.5B |
| Operating income | $256M | -$346M | $495M | $1.6B | $4.4B | $3.1B |
| Net income | $589M | -$205M | -$160M | $1.6B | $3.7B | $2.3B |
| EPS (diluted) | $0.00 | $0.00 | -$0.49 | $5.01 | $11.89 | $7.40 |
| Operating cash flow | $584M | -$1.3B | -$2.4B | -$5.3B | -$2.5B | $4.2B |
| Free cash flow | -$1.2B* | -$2.7B* | -$4B* | -$7.7B* | -$5B* | $1.3B* |
| Cash & equivalents | $226M | $504M | $422M | $368M | $3B | $3.6B |
| Total debt | - | $4.9B | $4.7B | $7.7B | $8.5B | $7.4B |
| Operating margin | 1.5% | -1.8% | 2.0% | 6.5% | 18.5% | 12.1% |
| Net margin | 3.3% | -1.0% | -0.7% | 6.5% | 15.9% | 9.1% |
Latest quarters
| Line | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.6B | $5.4B* | $6.8B | $6.1B | $6.6B | $6.1B* | $11.1B | $7.5B |
| Operating income | $1.5B | $972M* | $451M | $951M | $1.1B | $598M* | $2.3B | $580M |
| Net income | $1.2B | $852M* | $118M | $839M | $930M | $432M* | $1.6B | $513M |
| EPS (diluted) | $3.82 | $2.72* | $0.38 | $2.67 | $2.97 | $1.38* | $4.49 | $1.42 |
| Operating cash flow | -$112M* | -$1B* | $107M | $1.5B* | $1.8B* | $805M* | $425M | $1.1B* |
| Free cash flow | -$664M* | -$1.7B* | -$699M* | $710M* | $1.5B* | -$181M* | -$850M* | -$118M* |
| Cash & equivalents | $1.8B | $3B | $1.8B | $2B | $4B | $3.6B | $800M | $697M |
| Total debt | $7.4B | $8.5B | $7.3B | $7.3B | $7.3B | $7.4B | $17B | $19.1B |
| Operating margin | 22.4% | 18.1% | 6.6% | 15.6% | 16.5% | 9.8% | 21.0% | 7.7% |
| Net margin | 18.3% | 15.8% | 1.7% | 13.8% | 14.2% | 7.1% | 14.3% | 6.8% |
Revenue by segment
| Line | FY2020 | FY2021 | FY2022 | FY2023* | FY2024* | FY2025* |
|---|---|---|---|---|---|---|
| Mid-Atlantic | $4.6B | $4.6B | $5.2B | $5.1B | $5.5B | $6.5B |
| Midwest | $4B | $4.1B | $4.7B | $4.7B | $4.8B | $5.8B |
| Other Power Regions | $4B | $4.9B | $6.7B | $5.9B | $5.5B | $5.6B |
| New York | $1.4B | $1.6B | $1.6B | $2B | $2.1B | $2.2B |
| Ercot | $933M | $1.2B | $1.6B | $1.3B | $1.6B | $1.9B |
| Competitive Businesses Natural Gas Revenues | $2B | $3.4B | $5B | - | - | - |
| Competitive Businesses Other Revenues | $540M | -$20M | -$211M | - | - | - |
| Other / unallocated | - | - | - | $5.9B* | $4.1B* | $3.6B* |
Segment figures include sales between segments, so they add up to more than consolidated revenue.
* derived: a fourth quarter as the year less the three filed quarters, or a remainder as the total less the parts. All other figures are as filed.
About this page
Every figure on this page is read from Constellation Energy's own SEC filings: the statement lines from the SEC's XBRL company-facts feed, the revenue splits from the segment and revenue notes of each 10-K and 10-Q. Nothing is typed in or estimated. The cache refreshes daily.
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