NEE

NEXTERA ENERGY INC

Utilities • CIK: 0000753308

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Market Cap
$165.74B
P/E (TTM)
24.2x
Rev Growth (TTM)
+10.7%
Net Margin (TTM)
26.4%
FCF Yield (TTM)
7.5%
FCF Margin (TTM)
48.2%

Filing Intelligence

5.0/10
10-K filed Feb 13, 2026 • FY

Executive Summary

Net income decreased slightly year-over-year, impacted by higher interest expenses and unfavorable hedging activities in the Corporate and Other segment.. FPL demonstrated strong performance with...

Key Concerns

  • ●NEE faces significant potential financial exposure from an antitrust lawsuit with damages that could be tripled ($350M potentially to...
  • ●Substantial guarantees and letters of credit totaling $1.8 billion for XPLR's subsidiaries highlight potential liquidity risks for NEE.
  • ●Regulatory and Legal Environment (high)

Key Strengths

  • ●FPL demonstrated strong performance with increased net income driven by investments in infrastructure and a higher earned regulatory ROE.
  • ●NEER's profitability improved due to new investments, but was partially offset by increased financing costs and hedging impacts.
  • ●The company continues significant capital expenditures, particularly in growth-oriented projects within NEER and FPL, indicating a focus on...
View Full Quarterly Insights →

LATEST EARNINGS

•
Q4 FY2025
•
2 months ago
•View source
Revenue
$6.50B
+20.7%
Net Income
$1.53B
+27.6%
EPS
$0.73
+25.9%
Operating
24.4%↑ +6.9%
Net
23.6%↑ +1.3%
  • •Full-year 2025 adjusted earnings per share grew approximately 8.2% year-over-year to $3.71, exceeding the company's communicated range.
  • •FPL's regulatory capital employed increased by approximately 8.1% year-over-year, supported by $8.9 billion in full-year capital investments.
  • •NextEra Energy Resources achieved a record year for origination, adding approximately 13.5 gigawatts of new generation and battery storage projects to its backlog.
  • •FPL's typical residential customer bills are expected to increase only about 2% annually between 2025 and 2029, remaining below the national average.
View Full Earnings →

Cash Flow Health

Free Cash Flow8/8 positive
TTM$12.5B
Q4 '25
$2.5B-38%
Q3 '25
$4.0B+26%
FCF Margin
TTM48.2%
Q4 '2541.0%-25%
Sector: 0.0%Top 10%
OCF Margin48.2%
OCF/NI1.83x
CapEx Coverage–
FCF Yield7.5%
FCF Growth (2Y)+15%
Cash Conversion Cycle
52 days
DSO: 52+DIO: –−DPO: –
View Insights from Latest Filing →View Full Cash Flow Statement →

Capital Allocation & Returns

Balanced
Total Shareholder YieldEst.
Est.2.8%
Div Yield2.8%
+
Est. Buyback2.8%

Balancing returns with reinvestment

Dividend & Payout Metrics
Dividend Yield (TTM)2.8%
FCF Payout Ratio37.5%
Free Cash Flow (TTM)$12.5B
Capital Return / FCF37.5%
Est. Dividends Paid (TTM)$4.7B
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
6.8%
Volatile
+0.0% YoY-5.7%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
37.6%
8Q: 31.3%
Asset Turnover
0.13x
8Q: 0.13x
Leverage (1+D/E)
2.74x
D/E: 1.74x
DuPont: 13.4% ≈ 6.8% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
0.18x
8Q:0.17x
Flat
Invested Cap Turn
0.18x
8Q:0.18x
Flat
Asset-based ROIC formula
Full Analysis

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024
Revenue
$25.9B
$6.1B↓17.6%
$7.4B↑15.6%
$6.4B↑6.7%
$6.0B↑13.2%
$5.3B↓20.9%
$6.7B↑11.7%
$6.0B↑11.1%
$5.4B
Operating Income
$8.3B
$1.6B↓37.2%
$2.5B↑32.2%
$1.9B↓15.3%
$2.3B↑139.7%
$941.0M↓67.1%
$2.9B↑71.0%
$1.7B↓17.0%
$2.0B
Net Income
$6.8B
$1.5B↓37.0%
$2.4B↑20.2%
$2.0B↑143.5%
$833.0M↓30.8%
$1.2B↓35.0%
$1.9B↑14.2%
$1.6B↓28.5%
$2.3B
Operating Cash Flow
$12.5B
$2.5B↓38.0%
$4.0B↑26.3%
$3.2B↑15.2%
$2.8B↑39.8%
$2.0B↓53.6%
$4.3B↑8.5%
$3.9B↑27.8%
$3.1B
Free Cash Flow
$12.5B
$2.5B↓38.0%
$4.0B↑26.3%
$3.2B↑15.2%
$2.8B↑39.8%
$2.0B↓53.6%
$4.3B↑8.5%
$3.9B↑27.8%
$3.1B
Total Equity
N/A
Income StatementCash Flow StatementBalance Sheet

Valuation Analysis

Fair Value
Price-to-EarningsTTM
24.2x
Volatile
8Q: 91.8x+1716%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
24.2x
vs – sector
Cash Flow
20.3x
EV/FCF vs –
Growth-Adj
2.3xPEG
Expensive for growth
Quality-Adj
3.5P/E per %ROIC
ROIC: 6.8%
Shareholder Returns
Dividend
2.8%
Buyback
–
Total Yield
2.8%
Market Cap$165.74B
EV$253.99B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
50/100
Average

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Top 25%
13.2%
8Q:–
Return on Invested Capital (ROIC)Top 25%
6.8%
8Q:–
-5.7%
vs Sector:0.1%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 37.6%
Asset Turnover: 0.13x

Earnings Quality

Cash Conversion

1.83x

OCF / Net Income ✓

FCF Consistency

–

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin–

Capital Efficiency

Invested Capital Turnover0.18x

Working Capital

Cash Conversion Cycle52 days

Growth Quality & Momentum

Moderate Growth
Growth Quality Score
68/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
10.7%
OpInc Growth YoY
68.5%
EPS Growth YoY
-2.4%
FCF 3Y CAGR
14.8%

Growth Quality Analysis

✓Sustainability Index: 7.5/10 - Highly sustainable growth

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
—
Operating
32.0%
Top 25% in sector
Net
26.4%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+21.8 pts
FCF: 48.2% | Net: 26.4%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Leveraged
Net Debt / EBITDA
–Net Debt: $92.00B
Interest Coverage
–
Balance sheet risk & solvency analysis

Research

All research