
$25.8B+10% YoYFY 2025
→Revenue reached $25.8B in 2025, compounding +4% a year since 2022 though the path has been bumpy.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
$6.8B−2% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $6.8B in 2025, compounding +18% a year over three years. Earnings per share moved +49% over the last twelve months. Trailing twelve-month profit stands at $8.2B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
+9.8%revenue growth, FY 2025
→Revenue grew +10% in 2025 against a five-year average of +9%. Earnings went the other way (-2%) even as sales grew, so margins compressed: costs rose faster than revenue.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
$12.5B−6% YoYFY 2025
→Free cash flow was $12.5B in 2025, compounding +15% a year since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→48 cents of every sales dollar became free cash in 2025, up 12 points since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→The biggest claim on each sales dollar is stock compensation, at 1% of revenue. That share has risen since 2022, so the cost of competing is climbing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→Operating profit outgrew revenue in 3 of the last 5 years, most recently +11% against +10%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
◌ 2026 = trailing twelve months to the latest filed quarter (2026-03-31), not a full fiscal year
→Operating margin widened 14 points to 32% since 2022. After everything, 26 cents of each sales dollar reaches net profit. NEE doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
◌ 2026 = trailing twelve months to the latest filed quarter (2026-03-31), not a full fiscal year
→ROE of 15% sits well above ROCE of 4%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
21.1xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 21.1x earnings, the market is paying about what it has typically paid NEE's own 8-year median of 22.3x. Neither a bargain nor a stretch by its own standard.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→The business yielded 8.4% of free cash against its market value in 2025.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→Debt of $97.8B sits against $2.0B of cash, or 1.8x shareholders' equity.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→The company's own capital grew from $47.5B in 2023 to $55.2B (+16%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→Shareholders received $4.7B in dividends in 2014. Stock compensation issued $185M of new shares in the same year, offsetting 4% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→The share count grew 0.6% in 2025, averaging 1.5% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→The dividend per share reached $2.26 in 2025, compounding +10% a year since 2020.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
◌ 2026 = trailing twelve months to the latest filed quarter (2026-03-31), not a full fiscal year
→The dividend consumed 68% of profit and 37% of free cash flow in 2025. That leaves room to keep paying through a weak year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→NEE earns 4.4% on the capital it employs, below the 10% most investors treat as the cost of capital. It was 3.1% in 2022, so the trend is up, and the pace is picking up.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→NEE issued +24% more shares from 2011 to 2025, but revenue per share still rose +36%. The dilution bought more growth than it cost existing holders.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
→Insiders sold $4M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 51 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31