Constellation Energy (CEG)
Utilities · Integrated power generation and retail energy supply
America's largest generator of emissions-free electricity, combining nuclear, renewables, and natural gas generation with retail power and gas sales.
What Constellation Energy does
Constellation Energy is a major power generation and energy retailer that produces electricity predominantly from low- and emissions-free sources including 22 GWs of nuclear capacity across 25 units, as well as natural gas, hydroelectric, geothermal, wind, and solar generation. The company sells electricity and natural gas directly to retail customers through customer-facing business segments. Following its 2025 acquisition of Calpine, Constellation became the nation's largest generator of emissions-free electricity with 183 TWh of nuclear generation in 2025 and Scope 1 and 2 GHG emissions of 8.5 million metric tons CO2 equivalent in 2024.
Themes: ["Nuclear energy","Emissions-free generation","Clean energy transition","Grid reliability","Retail energy markets","Climate policy / net-zero targets","GHG emissions reduction","Renewable energy integration"]
Fundamentals
- Price$250.74 as of 2026-07-09 close
- Market cap$90.0B as of 2026-07-10
- 1-year return-20.9% as of 2026-07-09 close
- P/E23.75 as of 2026-07-10
- Net margin+12.7% as of 2026-07-10
- Gross margin+44.3% as of 2026-07-10
- ROE+20.0% as of 2026-07-10
- Debt / equity0.67 as of 2026-07-10
- Revenue growth (YoY)+23.4% as of 2026-07-10
- Revenue CAGR (3y)+1.5% SEC XBRL
- Beta1.13 as of 2026-07-10
Dividend: yield +0.7%; 4-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Regulatory changes to federal and state greenhouse gas regulations, including potential repeal of EPA GHG rules for power plants, could impact compliance obligations and business model","Dependence on continued state support for nuclear generation through zero-emission credit programs and clean energy standards, which face expiration risk (e.g., NJ ZEC contracts ended May 2025, Illinois programs expire 2027)","Exposure to natural gas price and demand volatility through both generation assets and retail customer supply, combined with elevated interest expense from recent Calpine acquisition debt"]
Competitors & peers
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.