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Largest US electric utility holding company, combining Florida Power & Light with the world's largest wind/solar generator.
Largest US electric utility holding company, combining Florida Power & Light with the world's largest wind/solar generator.
Earns in two parts: Florida Power & Light, which charges customers rates set by Florida's regulator, and NextEra Energy Resources, which sells power from wind, solar and storage plants under long-term contracts to utilities and companies. The regulated utility is the steady base and the second grows with renewables.
Moat: narrow (regulatory licence, scale, installed base). Regulated Florida monopoly plus the largest renewable-generation fleet in the US.
Headquarters: Juno Beach, Florida, US · Founded: 1925 · Employees: 17,400
Size NextEra Energy (NEE) is a United States Utilities company (Electric Utilities) with a market value of $182B, the 65th largest of 3,117 United States companies the cockpit tracks. Shares closed at $86.95 on 6 Nov 2026.
Performance Over six months the shares fell 5.9%, against +1.7% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 17 in its peer set.
Growth Revenue grew 13.5% over the last twelve months (peer median +5.3%); the operating margin is 29.9% (peer median 21.6%).
Valuation It trades at 21.0× forward earnings against a peer median of 18.4× (4th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.2 points below its cost of capital (6.9% WACC).
Credit NextEra Energy has 48 bonds outstanding ($45.0B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 77 bp.
Short interest Short interest is 3.0% of the free float (15 Oct 2026).
Next results Next results expected around 26 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $29.2B | $26.5B | $24.4B | $22.8B | $26.6B |
| Revenue growth | — | +9% | +7% | -14% | — |
| Gross profit | $11.3B | $9.60B | $9.06B | $6.80B | $11.3B |
| EBITDA | $15.6B | $14.1B | $12.5B | $10.7B | $14.0B |
| Net income | $11.6B | $6.83B | $6.95B | $7.31B | $4.15B |
| Free cash flow | $4.09B | $3.21B | $4.75B | $1.75B | -$1.48B |
| Capital expenditure | $10.7B | $9.27B | $8.51B | $9.55B | $9.74B |
| Total debt | $114B | $96.1B | $82.7B | $73.6B | $65.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| NextEra Energy NEE | $182B | -6% | +13% | 30% | 21.0× | 18.8% |
| Southern SO | $106B | +1% | +6% | 24% | 20.0× | n/a |
| Duke Energy DUK | $99.6B | +4% | +6% | 27% | 18.2× | n/a |
| Brookfield Renewable Partners LP BEP-UN.TO | $9.41B | -7% | +7% | 11% | n/a | n/a |
| Dominion Energy D | $60.3B | +12% | +23% | 29% | 18.7× | n/a |
| American Electric Power AEP | $68.9B | -3% | +10% | 24% | 18.5× | n/a |
| Xcel Energy XEL | $51.1B | +1% | +4% | 22% | 18.1× | n/a |
| Iberdrola IBE.MC | $168B | +16% | +1% | 21% | 21.9× | 11.4% |
| AES AES | $10.6B | +4% | +12% | 20% | 6.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NEE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.4% | +7.6% | 2nd highest of 17 |
| 6-month return | -5.9% | +1.7% | 3rd lowest of 17 |
| Distance from 52-week high | -11.3% | -6.5% | 4th lowest of 17 |
| Revenue growth (TTM) | +13.5% | +5.3% | 3rd highest of 17 |
| Operating margin | 29.9% | 21.6% | 2nd highest of 17 |
| Forward P/E | 21.0× | 18.4× | 4th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 18.8% | 6.0% | 2nd most demanding of 7 |
| Growth delivered (Del g) | +9.2% | +7.2% | 2nd highest of 7 |
| Hurdle (Req g minus delivered) | +9.6 pp | -0.9 pp | 2nd most demanding of 7 |
| ROIC minus cost of capital | -3.2 pp | -1.1 pp | 3rd lowest of 17 |
| EV / EBITDA | 19.5× | 13.5× | 2nd most expensive of 16 |
| Net debt / EBITDA | 6.9× | 5.0× | most indebted of 16 |
| Bond spread | 77 bp | 85 bp | 2nd tightest of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NextEra Energy NEE | United States | $182B | -6% | +13% | 30% | 21.0× | 18.8% | +9.2% |
| Iberdrola IBE.MC | Spain | $168B | +16% | +1% | 21% | 21.9× | 11.4% | +5.8% |
| China Yangtze Power 600900.SS | China | $110B | +9% | 0% | 51% | 21.2× | 1.5% | +8.5% |
| Enel ENEL.MI | Italy | $108B | 0% | 0% | 16% | 13.4× | 6.2% | +3.8% |
| Southern SO | United States | $106B | +1% | +6% | 24% | 20.0× | n/a | n/a |
| Duke Energy DUK | United States | $99.6B | +4% | +6% | 27% | 18.2× | n/a | n/a |
| Constellation Energy CEG | United States | $88.6B | -18% | +21% | 15% | 20.5× | 20.3% | +8.8% |
| National Grid NG..L | United Kingdom | $84.5B | -2% | -4% | 29% | 13.8× | n/a | n/a |
| Engie ENGI.PA | France | $69.0B | -11% | -5% | 13% | 11.7× | 5.8% | +10.2% |
| American Electric Power AEP | United States | $68.9B | -3% | +10% | 24% | 18.5× | n/a | n/a |
| Dominion Energy D | United States | $60.3B | +12% | +23% | 29% | 18.7× | n/a | n/a |
| E.on EOAN.DE | Germany | $55.9B | +4% | -8% | 7% | 17.5× | n/a | n/a |
| Entergy ETR | United States | $52.8B | -1% | +11% | 24% | 22.8× | n/a | n/a |
| Xcel Energy XEL | United States | $51.1B | +1% | +4% | 22% | 18.1× | n/a | n/a |
| Endesa ELE.MC | Spain | $51.0B | +21% | +6% | 17% | 18.4× | 0.5% | +4.7% |
| Rwe RWE.DE | Germany | $50.4B | +2% | -34% | 0% | 18.6× | n/a | n/a |
| Exelon EXC | United States | $47.2B | +5% | +7% | 20% | 15.2× | n/a | n/a |
NextEra Energy has 48 bonds outstanding with $45.0B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 5.34%, a spread of 77 bp over government bonds.