NYSE · NEE

NextEra Energy, Inc.

Utilities · Regulated Electric

$81.28▲ 1.13% ($0.91)at close

After hours$81.25▼ 0.04%7:57 PM ET

52-week

$69.37$98.75

Market cap

What the market price implies · Reverse DCF

To support a price of $81.28, this model requires revenue to grow by 9.14%/yr over the next 10 years, compounded annually.

Historical revenue grew by 12.64%/yr over the past 4 years. The required annual growth rate is 3.50 percentage points lower.

Selected forecast · Base scenario

7.68%/yr · actual 10-year annualized revenue growth

Year 1 growth: 12.03%

Market-implied · Base operating assumptions + edited margins

9.14%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$81.28

Estimated value / share

$66.73

Base scenario

This estimate is 17.9% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 12.03% · Ending margin 29.49% · Discount rate 6.31%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 18, 2026, 4:12 AM UTC · provider

Why this method?

FCFF is positive, but it is still too unstable and too short-lived to anchor even a normalized FCFF DCF. Use revenue and margin assumptions instead of compounding current FCFF.

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

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 472.5%.

Do you have 5+ years of positive FCFF history? Only 3 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 15.6%Revenue (TTM): 12.05%FCF (TTM): -372.42%P/FCF: 59th pct

What changed

The stock rose 15.6% over the last year. Revenue grew 12.05% over the trailing twelve months. Operating margin moved from 30.75% to 29.49%. Free cash flow declined 372.42% over the trailing twelve months.

What the market seems to be pricing

The stock has moved higher against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 29.49%. A decisive move in revenue — currently up 12.05% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

NextEra Energy, Inc., operating through its diverse subsidiaries, is a prominent electric power provider in North America.

CEOJohn W. Ketchum

SectorUtilities

IndustryRegulated Electric

Employees17,400

IPO dateJun 19, 2014

https://www.nexteraenergy.com

Market multiples

Forward P/E—

EV/EBITDA16.12

Enterprise value$260.51B

Stock splits

Oct 27, 2020↑ Forward

Every 1 shares became 4

+300%

Mar 16, 2005↑ Forward

Every 1 shares became 2

+100%

Jan 31, 1985↑ Forward

Every 1 shares became 2

+100%

Profitability & growth

Revenue growth12.45%

Gross margin (FY2025)62.8%▲2.7ppvs FY2024

Operating margin (FY2025)30.14%▼0.1ppvs FY2024

ROE17.23%▲4.2ppvs FY2025

Analyst consensus

RatingBuy

Target price$102.11▲25.63%

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

Oct 27, 2026

Q4 FY26 · EPS est $1.17 · Revenue est $8.89B

View

Dividends

$2.44/shareQuarterlyDividend Aristocrat · 31yrStretched

NEE pays a dividend with a 3% dividend yield, 31 consecutive years of growth, growing at 10.11% annually, covered 0.7× by free cash flow.

Dividend Yield

Annual Div / Share

$2.44

5yr CAGR

+10.11%

Doubles every ~7.2yr

Payout Ratio

53.2%

Stretched

Dividend Growth Rate

3yr CAGR

+10.06%

5yr CAGR

+10.11%

10yr CAGR

+11.17%

Dividend Safety

5/10Stretched

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$2.44+10.0%

2025$2.21+10.0%

2024$2.01+10.1%

2023$1.83+10.1%

2022$1.66+10.3%

2021$1.51+10.5%

2020$1.36+12.1%

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$30/yr

$2/mo

In 5 yrs

$49/yr+62%

$4/mo

In 10 yrs

$79/yr+162%

$7/mo

Today	In 5 yrs	In 10 yrs
$30/yr $2/mo	$49/yr+62% $4/mo	$79/yr+162% $7/mo

Yield-on-cost grows from 3% → 7.85% over 10yr

Analysis

Dividend Strengths

Dividend Aristocrat

NEE has raised its dividend for 31 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.

Strong dividend growth rate

The 5-year CAGR of 10.11% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

Dividend exceeds free cash flow

Free cash flow covers only 0.69× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.

NYSE · NEE

NextEra Energy, Inc.

Utilities · Regulated Electric

$81.28▲ 1.13% ($0.91)at close

After hours$81.25▼ 0.04%7:57 PM ET

52-week

$69.37$98.75

Market cap

What the market price implies · Reverse DCF

To support a price of $81.28, this model requires revenue to grow by 9.14%/yr over the next 10 years, compounded annually.

Historical revenue grew by 12.64%/yr over the past 4 years. The required annual growth rate is 3.50 percentage points lower.

Selected forecast · Base scenario

7.68%/yr · actual 10-year annualized revenue growth

Year 1 growth: 12.03%

Market-implied · Base operating assumptions + edited margins

9.14%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$81.28

Estimated value / share

$66.73

Base scenario

This estimate is 17.9% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 12.03% · Ending margin 29.49% · Discount rate 6.31%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 18, 2026, 4:12 AM UTC · provider

Why this method?

FCFF is positive, but it is still too unstable and too short-lived to anchor even a normalized FCFF DCF. Use revenue and margin assumptions instead of compounding current FCFF.

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

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 472.5%.

Do you have 5+ years of positive FCFF history? Only 3 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 15.6%Revenue (TTM): 12.05%FCF (TTM): -372.42%P/FCF: 59th pct

What changed

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 29.49%. A decisive move in revenue — currently up 12.05% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

NextEra Energy, Inc., operating through its diverse subsidiaries, is a prominent electric power provider in North America.

CEOJohn W. Ketchum

SectorUtilities

IndustryRegulated Electric

Employees17,400

IPO dateJun 19, 2014

https://www.nexteraenergy.com

Market multiples

Forward P/E—

EV/EBITDA16.12

Enterprise value$260.51B

Stock splits

Oct 27, 2020↑ Forward

Every 1 shares became 4

+300%

Mar 16, 2005↑ Forward

Every 1 shares became 2

+100%

Jan 31, 1985↑ Forward

Every 1 shares became 2

+100%

Profitability & growth

Revenue growth12.45%

Gross margin (FY2025)62.8%▲2.7ppvs FY2024

Operating margin (FY2025)30.14%▼0.1ppvs FY2024

ROE17.23%▲4.2ppvs FY2025

Analyst consensus

RatingBuy

Target price$102.11▲25.63%

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

Oct 27, 2026

Q4 FY26 · EPS est $1.17 · Revenue est $8.89B

View

Dividends

$2.44/shareQuarterlyDividend Aristocrat · 31yrStretched

NEE pays a dividend with a 3% dividend yield, 31 consecutive years of growth, growing at 10.11% annually, covered 0.7× by free cash flow.

Dividend Yield

Annual Div / Share

$2.44

5yr CAGR

+10.11%

Doubles every ~7.2yr

Payout Ratio

53.2%

Stretched

Dividend Growth Rate

3yr CAGR

+10.06%

5yr CAGR

+10.11%

10yr CAGR

+11.17%

Dividend Safety

5/10Stretched

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$2.44+10.0%

2025$2.21+10.0%

2024$2.01+10.1%

2023$1.83+10.1%

2022$1.66+10.3%

2021$1.51+10.5%

2020$1.36+12.1%

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$30/yr

$2/mo

In 5 yrs

$49/yr+62%

$4/mo

In 10 yrs

$79/yr+162%

$7/mo

Today	In 5 yrs	In 10 yrs
$30/yr $2/mo	$49/yr+62% $4/mo	$79/yr+162% $7/mo

Yield-on-cost grows from 3% → 7.85% over 10yr

Analysis

Dividend Strengths

Dividend Aristocrat

NEE has raised its dividend for 31 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.

Strong dividend growth rate

The 5-year CAGR of 10.11% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

Dividend exceeds free cash flow

Free cash flow covers only 0.69× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.