CEGConstellation Energy

Utilities · Electric Utilities · Nasdaq

Headquarters: Baltimore, MD
Next results: around Feb 23, 2027

RevenueFY2020–25 $25.5B+8.3% Highest in 6 years 10-K FY2025 · XBRL Net incomeFY2020–25 $2.3B−38.1% FY2024: $3.7B 10-K FY2025 · XBRL Free cash flowFY2020–25 $1.3B Highest in 6 years 10-K FY2025 · XBRL Operating marginFY2020–25 12.1%−6.4 pts 1.5% in FY2020 10-K FY2025 · XBRL

What changed

10-K filed Feb 24, 2026 against Feb 18, 2025

Area	What changed	Source
Risk factors	27 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Accounting checks	11 other checks clear	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 24, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-18. Quoted as filed.

Market Design. The wholesale markets vary from region to region with distinct rules, practices, and procedures. Changes in these market rules, problems with rule implementation, or failure of any of these markets could adversely affect our business with little notice. The imposition of price caps, the issuance of orders extending the…
10-K, Item 1A

All 27 new paragraphs →

Accounting checks

latest 10-K

11 of 11 clear 0 worth a look. Checks, not verdicts.

✓
Receivables +14.7% vs revenue +8.3% (+6.4 pts)
✓
Cash from operations $4.2B vs net income $2.3B (FY ending 2025-12-31)
✓
Inventory +8.5% vs revenue +8.3% (+0.2 pts)
✓
Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
The same matters as last year: Nuclear Decommissioning Asset Retirement Obligations (ARO) Assessment
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 9, 20268-K Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01
Nov 9, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026

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