Dominion Energy, Inc.D
NYSE•Utilities•Utilities - Regulated Electric
Dominion Energy, Inc. provides regulated electricity and natural gas services in the United States. It operates through Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy segments. The Dominion Energy Virginia segment engages in the generation, distribution, and transmission of electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina. The Dominion Energy South Carolina segment generates, transmits, and distributes electricity to approximately 0.8 million customers in the central, southern, and southwestern portions of South Carolina; and distributes natural gas to approximately 0.5 million residential, commercial, and industrial customers in South Carolina. The Contracted Energy segment is involved in the nonregulated long-term contracted renewable electric generation fleet and renewable natural gas facilities. As of December 31, 2025, the company's portfolio of assets included approximately 30.7 GW of electric generating capacity, 10,800 miles of electric transmission lines, and 80,400 miles of electric distribution lines. The company was formerly known as Dominion Resources, Inc. Dominion Energy, Inc. was incorporated in 1983 and is headquartered in Richmond, Virginia.
Dominion Energy, Inc. (D) reported trailing twelve months revenue of $17.53B as of March 2026, a 18.9% increase year-over-year. Quarterly revenue reached $5.09B, reflecting continued top-line momentum.
Dominion Energy, Inc. generated $2.97B in TTM net income, with quarterly EBITDA of $2.02B. The operating margin contracted from 29.9% to 27.3%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (27.3%) and net margin (12.2%) indicates significant non-operating expenses or interest burden. Net margin has narrowed from 15.8% a year ago, reflecting increased costs or interest expense.
D trades at a P/E of 18.3x (in line with broad market averages) and a P/S of 3.1x. The price-to-book ratio of 1.9x reflects a moderate premium to book value.
The company reported negative free cash flow of $-1.60B, indicating cash consumption over the period. The balance sheet shows $118.58B in total assets with $45.11B in long-term debt against $29.15B in stockholders equity for a debt-to-equity ratio of 1.5. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~25.2%, suggesting durable pricing power and cost discipline.
ROE is positive at ~8.5% on average, adequate but below the threshold typically associated with wide moats.
Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~45.8% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~26.1% — no sign of cost or pricing stress.
Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.5 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding rose 4.8% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation