NextEra Energy, Inc.NEE
NYSE•Utilities•Utilities - Regulated Electric
NextEra Energy, Inc., through its subsidiaries, generates, stores, transmits, distributes, and sells electric power to retail and wholesale customers in North America. It operates through Florida Power & Light Company (FPL) and NEER segments. The company generates electricity from wind, solar, nuclear, natural gas, and other clean energy assets. It also invests in generation, storage, transmission, and distribution facilities; owns, develops, constructs, manages, and operates generation facilities, including renewables, nuclear and natural gas, and battery storage facilities in the wholesale energy market in the United States and Canada, as well as electric and gas transmission assets, and natural gas pipelines; provides full energy and capacity requirement services; markets and trades in energy-related commodities; and participates in the production of natural gas, natural gas liquids, and oil. As of December 31, 2025, the company had approximately 35,963 megawatts of net generating capacity; approximately 93,000 circuit miles of transmission and distribution lines; and 932 substations. It serves approximately 12 million people through approximately 6 million customer accounts on the east and lower west coasts of Florida. The company was formerly known as FPL Group, Inc. and changed its name to NextEra Energy, Inc. in 2010. NextEra Energy, Inc. was founded in 1925 and is headquartered in Juno Beach, Florida.
NextEra Energy, Inc. (NEE) reported trailing twelve months revenue of $25.90B as of March 2026, a 7.5% increase year-over-year. Quarterly revenue reached $6.10B, reflecting continued top-line momentum.
NextEra Energy, Inc. generated $8.18B in TTM net income, with quarterly EBITDA of $2.21B. The operating margin contracted from 37.6% to 36.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (36.2%) and net margin (35.8%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 13.9% a year ago, signaling stronger bottom-line efficiency.
NEE trades at a P/E of 23.4x (in line with broad market averages) and a P/S of 7.4x. The price-to-book ratio of 3.5x reflects a moderate premium to book value.
The company reported negative free cash flow of $-8.45B, indicating cash consumption over the period. The balance sheet shows $221.42B in total assets with $93.95B in long-term debt against $55.22B in stockholders equity for a debt-to-equity ratio of 1.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~31.5%, suggesting durable pricing power and cost discipline.
ROE is positive at ~12.8% on average, adequate but below the threshold typically associated with wide moats.
Only 1 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~31.7% — no sign of cost or pricing stress.
Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 6 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Share count is stable — no significant dilution or buyback activity.
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