CEG Constellation Energy Corp

Overview and Growth

Constellation Energy Corp generated $25.53B of revenue in fiscal 2025, with net income of $2.32B and an operating cash inflow of $4.24B. At $25.53B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $23.57B in fiscal 2024, revenue recorded a 8.3% year-over-year increase. Diluted earnings per share were $7.40, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS decreased by 37.8% from $11.89 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. At period end, total assets were $57.25B, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.45x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Operating income was $3.09B, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 12.1%, showing how efficiently sales converted into operating profit. Net income came to $2.32B, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 9.1% of revenue, connecting the absolute net income figure with the company’s top-line scale. Income tax expense totaled $1.19B, providing the reported tax component that separates pretax and after-tax earnings. Return on period-end equity was 15.6%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 4.1%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $57.25B of assets against $42.40B of liabilities and $14.85B of equity, revealing how the asset base was financed. Current assets were $12.12B against $7.94B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.53x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. The company held $3.64B in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 45.8% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $7.34B, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.49x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 12.8% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 74.1%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 6.4% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $52.93B in fiscal 2024, the current asset base moved 8.2% and finished higher. Against $13.54B of equity in fiscal 2024, the current book-equity balance moved 9.7% and ended higher.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $4.24B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Operating cash flow equaled 1.83x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $2.95B, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 69.6%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $1.29B of positive free cash flow for the period. The free-cash-flow margin was 5.0%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 2.2% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.