NextEra Energy
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, nucl…
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.Priced within the modelled range
5-year outlook: Not shown because confidence is low: EV/EBITDA (12x) is somewhat apart.
Other models: USD 46.86–88.58 (median 67.72). The recommended value is in line with them.
Why: Free cash flow cannot be used (negative or far below earnings, with too little history to normalise it), so value is based on reinvestment-adjusted earnings.
Details and the full model are below.
Market price within modeled range
Earnings-based DCF using TTM through 30 Sep 2026 net income, of which 70% is treated as distributable after reinvestment, with no extra debt or cash adjustment because net income is already after interest. Used because free cash flow or dividends do not give a usable base. Base assumptions are 9.3% growth, 2.2% terminal growth, and 8.6% discount; this illustrative range is not a statistical confidence interval or investment advice.
Assumptions: growth 9.30%, discount rate 8.60%, terminal growth 2.20% (sector defaults). See a worked example.
Blended growth assumption: 9.3% (sector default 4.0%, own revenue history 9.4%, analyst revenue consensus 11.9%).
Analyst consensus expects revenue growth of 11.9% a year; the growth assumption used is 9.3%.
Adjust assumptions
Why this model: Free cash flow cannot be used (negative or far below earnings, with too little history to normalise it), so value is based on reinvestment-adjusted earnings.
Compare models- Recommended: Earnings-based DCF — USD 75.97 (-13.9%)
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EPS-based Gordon proxy
— USD 88.58 (+0.4%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/EBITDA (12x)
— USD 46.86 (-46.9%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/Sales (Rule of 40)
— USD 138.38 (+56.8%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear USD 54.65 | -61.5% |
| Base USD 75.97 | -16.2% |
| Bull USD 117.24 | 24.7% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At USD 88.25 the market implies about this annual free-cash-flow growth for 5 years (terminal 2.2%, discount 8.6%).
Compare: the market implies 13.0% a year, this model assumes 9.3%. The market expects more than this model does, which is why it reads as overvalued.
How the Earnings-based DCF value changes with growth (rows) and discount rate (columns). Green cells are above the current price.
| Growth \ Discount | 6.6% | 7.6% | 8.6% | 9.6% | 10.6% |
|---|---|---|---|---|---|
| 5.3% | 93.84 | 76.28 | 64.22 | 55.42 | 48.72 |
| 7.3% | 102.41 | 83.13 | 69.89 | 60.23 | 52.88 |
| 9.3% | 111.61 | 90.48 | 75.97 | 65.39 | 57.34 |
| 11.3% | 121.49 | 98.37 | 82.49 | 70.92 | 62.12 |
| 13.3% | 132.07 | 106.81 | 89.47 | 76.84 | 67.23 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 72 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 3 of 5 years | 12 / 20 |
| Growth | revenue +8.6% a year | 20 / 20 |
| Balance sheet | net debt 6.3x EBITDA | 0 / 20 |
| Margins | EBITDA margin 59% | 20 / 20 |
Peers in Utilities
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| NEE (this company) | USD 88.25 | -16.2% | 15.9 | 3.0 | 2.7% | 72 |
| ED Consolidated Edison | USD 121.44 | 29.8% | 20.3 | 1.7 | 2.7% | 78 |
| ENGI.PA Engie SA | EUR 24.12 | 15.5% | 16.0 | 1.9 | 7.4% | 76 |
| FORTUM.HE Fortum Oyj | EUR 23.15 | -3.6% | 25.8 | 2.6 | 6.0% | 72 |
| D Dominion Energy | USD 69.64 | -5.5% | 22.7 | 2.1 | 3.8% | 76 |
| CMS CMS Energy | USD 70.68 | -6.5% | 25.4 | 2.3 | 3.2% | 64 |
| CNA.L Centrica plc | GBP 1.51 | -6.6% | – | 2.3 | 3.3% | 92 |
| NTGY.MC Naturgy Energy Group, S.A. | EUR 29.32 | -9.8% | 14.1 | 3.0 | 5.9% | 70 |
| EIX Edison International | USD 60.88 | -11.3% | 6.4 | 1.3 | 5.6% | 52 |
| Peer median | 20.3 | 2.2 | ||||
Dividends
Paid in the last 12 months: USD 2.44 per share · yield 2.76% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 1.870 |
| 2025 | 2.266 |
| 2024 | 2.060 |
| 2023 | 1.870 |
| 2022 | 1.700 |
| 2021 | 1.540 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 12:56
| Revenue | USD 29,145,000,000 |
|---|---|
| EBITDA | USD 17,220,000,000 |
| EBIT | USD 10,515,000,000 |
| Net income | USD 11,636,000,000 |
| Free cash flow | USD -1,617,000,000 |
| Capital expenditures | USD 16,438,000,000 |
| Debt | USD 113,932,000,000 |
| Cash | USD 5,579,000,000 |
| Working capital | USD -16,552,000,000 |
| Shares outstanding | 2,097,600,000 |
| Reported dividends per share | USD 2.4256 |