NASDAQ · CEG

Constellation Energy Corporation

Utilities · Independent Power Producers

$262.80▲ 1.26% ($3.27)at close

After hours$262.64▼ 0.06%7:58 PM ET

52-week

$228.63$412.70

Market cap

$94.37B

P/E

26.75

EPS (TTM)

$9.82

Next earnings

Nov 9, 2026

Valuation

Recommended · Earnings yield

Price used

$262.80

Earnings yield

3.74%

Reported earnings

10-year Treasury benchmark: 4.95%

USD · TTM earnings ending 2026-06-30

Method, dates & sources

Earnings per share divided by the price used, compared with the 10-year Treasury rate.

Price timestamp: Sep 17, 2026, 8:00 PM UTC
Financial statement period: TTM earnings ending 2026-06-30
Data refreshed: Sep 18, 2026, 12:05 AM UTC · cache

Why this method?

The company is still too young and does not have a stable, multi-year FCFF base. Use EV/Revenue multiples and comparable transactions instead of a DCF.

Is FCFF positive and has it been for 3+ consecutive years? Only 1 consecutive positive FCFF years are available.

Is there enough operating history to anchor a DCF? Only 4 years of public or statement history are available, so multiples are more decision-useful than a DCF here.

Price vs Fundamentals

Why The Stock Is Moving

Likely multiple compressionHigh confidence

1Y Price: -18.2%Revenue (TTM): 25.99%FCF (TTM): 112.89%P/E: 60th pct

What changed

The stock fell 18.2% over the last year. Revenue grew 25.99% over the trailing twelve months. Operating margin moved from 15.47% to 14.65%. Free cash flow grew 112.89% over the trailing twelve months.

What the market seems to be pricing

Visible fundamentals weakened far less than the stock price. The market appears to be discounting durability, risk, or trust rather than just the latest reported numbers.

What would invalidate this read

This read changes if operating margin (currently 14.65%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.

Performance

Return analysis

Company profile

Constellation Energy Corporation operates as a U.S.-based firm dedicated to producing and distributing electricity.

CEOJoseph Dominguez

SectorUtilities

IndustryIndependent Power Producers

Employees15,315

IPO dateJan 19, 2022

https://constellationenergy.com

Market multiples

Forward P/E—

EV/EBITDA23.13

Enterprise value$115.82B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth23.03%

Gross margin (FY2025)75.83%▲50.4ppvs FY2024

Operating margin (FY2025)12.09%▼6.4ppvs FY2024

ROE15.31%▼1.4ppvs FY2025

Analyst consensus

RatingBuy

Target price$354.50▲34.89%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 9, 2026

Q4 FY26 · EPS est $3.74 · Revenue est $9.21B

View

Dividends

$1.67/shareQuarterly3yr growth streakSafe

CEG pays a dividend with a 0.63% dividend yield, 3 consecutive years of growth, growing at 19.1% annually, covered 2.7× by free cash flow.

Dividend Yield

0.63%

Annual Div / Share

$1.67

3yr CAGR

+19.1%

Doubles every ~4.0yr

Payout Ratio

15.84%

Safe

Dividend Growth Rate

3yr CAGR

+19.1%

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$1.67+10.0%

2025$1.52+13.2%

2024$1.34+35.7%

2023$0.99—

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$6/yr

$1/mo

In 5 yrs

$11/yr+76%

$1/mo

In 10 yrs

$20/yr+211%

$2/mo

Today	In 5 yrs	In 10 yrs
$6/yr $1/mo	$11/yr+76% $1/mo	$20/yr+211% $2/mo

Long-range projections use a capped 12% annual growth assumption.

Yield-on-cost grows from 0.63% → 1.97% over 10yr

Analysis

Dividend Strengths

Well-covered by free cash flow

The dividend is covered 2.7× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NASDAQ · CEG

Constellation Energy Corporation

Utilities · Independent Power Producers

$262.80▲ 1.26% ($3.27)at close

After hours$262.64▼ 0.06%7:58 PM ET

52-week

$228.63$412.70

Market cap

$94.37B

P/E

26.75

EPS (TTM)

$9.82

Next earnings

Nov 9, 2026

Valuation

Recommended · Earnings yield

Price used

$262.80

Earnings yield

3.74%

Reported earnings

10-year Treasury benchmark: 4.95%

USD · TTM earnings ending 2026-06-30

Method, dates & sources

Earnings per share divided by the price used, compared with the 10-year Treasury rate.

Price timestamp: Sep 17, 2026, 8:00 PM UTC
Financial statement period: TTM earnings ending 2026-06-30
Data refreshed: Sep 18, 2026, 12:05 AM UTC · cache

Why this method?

The company is still too young and does not have a stable, multi-year FCFF base. Use EV/Revenue multiples and comparable transactions instead of a DCF.

Is FCFF positive and has it been for 3+ consecutive years? Only 1 consecutive positive FCFF years are available.

Is there enough operating history to anchor a DCF? Only 4 years of public or statement history are available, so multiples are more decision-useful than a DCF here.

Price vs Fundamentals

Why The Stock Is Moving

Likely multiple compressionHigh confidence

1Y Price: -18.2%Revenue (TTM): 25.99%FCF (TTM): 112.89%P/E: 60th pct

What changed

What the market seems to be pricing

Visible fundamentals weakened far less than the stock price. The market appears to be discounting durability, risk, or trust rather than just the latest reported numbers.

What would invalidate this read

This read changes if operating margin (currently 14.65%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.

Performance

Return analysis

Company profile

Constellation Energy Corporation operates as a U.S.-based firm dedicated to producing and distributing electricity.

CEOJoseph Dominguez

SectorUtilities

IndustryIndependent Power Producers

Employees15,315

IPO dateJan 19, 2022

https://constellationenergy.com

Market multiples

Forward P/E—

EV/EBITDA23.13

Enterprise value$115.82B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth23.03%

Gross margin (FY2025)75.83%▲50.4ppvs FY2024

Operating margin (FY2025)12.09%▼6.4ppvs FY2024

ROE15.31%▼1.4ppvs FY2025

Analyst consensus

RatingBuy

Target price$354.50▲34.89%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 9, 2026

Q4 FY26 · EPS est $3.74 · Revenue est $9.21B

View

Dividends

$1.67/shareQuarterly3yr growth streakSafe

CEG pays a dividend with a 0.63% dividend yield, 3 consecutive years of growth, growing at 19.1% annually, covered 2.7× by free cash flow.

Dividend Yield

0.63%

Annual Div / Share

$1.67

3yr CAGR

+19.1%

Doubles every ~4.0yr

Payout Ratio

15.84%

Safe

Dividend Growth Rate

3yr CAGR

+19.1%

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$1.67+10.0%

2025$1.52+13.2%

2024$1.34+35.7%

2023$0.99—

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$6/yr

$1/mo

In 5 yrs

$11/yr+76%

$1/mo

In 10 yrs

$20/yr+211%

$2/mo

Today	In 5 yrs	In 10 yrs
$6/yr $1/mo	$11/yr+76% $1/mo	$20/yr+211% $2/mo

Long-range projections use a capped 12% annual growth assumption.

Yield-on-cost grows from 0.63% → 1.97% over 10yr

Analysis

Dividend Strengths

Well-covered by free cash flow

The dividend is covered 2.7× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.