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Screener / SEC EDGAR /CIK 0001868275 /10-K filed Feb 24, 2026, compared with Feb 18, 2025 /Numbers from the XBRL of the 10-Ks
Utilities peers:
CEGNRGDUKPCGNEESO
Nasdaq Utilities · Electric Utilities

Constellation Energy CEG

CEG quote by TradingView
Headquarters
Baltimore, MD
Next results
around Feb 23, 2027
Compare with peers Embed

CEG among Utilities peers

Six ratios from the latest 10-K. Each corner is the share of 30 peers the company is above, not a score.

Compare
Revenue growth: 8.3%, above 30% of 30 peers (their median 9.7%) REVENUE GROWTH 8.3% · above 30% Operating margin: 14.7%, above 11% of 28 peers (their median 23.1%) OPERATING MARGIN 14.7% · above 11% Net margin: 11.1%, above 13% of 30 peers (their median 14.1%) NET MARGIN 11.1% · above 13% FCF margin: 1.0%, above 78% of 23 peers (their median -16.0%) FCF MARGIN 1.0% · above 78% Return on capital: 3.6%, above 0% of 28 peers (their median 5.3%) RETURN ON CAPITAL 3.6% · above 0%
CEG Peer median Below the median

What changed

27 new risk paragraphs. 10-K filed Feb 24, 2026 against Feb 18, 2025.

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.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables +14.7% vs revenue +8.3% (+6.4 pts)
  • Cash from operations $4.2B vs net income $2.3B (FY ending Dec 31, 2025)
  • Inventory +8.5% vs revenue +8.3% (+0.2 pts)
8 more checks with nothing to note
  • 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

In their words

27 paragraphs in Risk Factors that were not in the 10-K filed Feb 18, 2025. Quoted as filed.

All 27 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 18, 2025 10-K, ITEM 1A
    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…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 18, 2025 10-K, ITEM 1A
    Expiration or termination of our PPAs and other contractual agreements may significantly reduce our revenue and allow the counterparty or customer to seek liquidated damages. A material portion of our portfolio is sold under PPAs that expire at various times. We seek to extend contracts or sell any generation not sold under PPAs on a…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 18, 2025 10-K, ITEM 1A
    Following the Calpine acquisition in January 2026, we have several government awards for projects involving cost-share agreements with the DOE, which could be affected by our inadvertent failure to comply with certain laws, rules, and regulations. At five facilities, Calpine has completed or commenced front-end engineering design…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 18, 2025 10-K, ITEM 1A
    We are subject to risks associated with weather, including its effect on the supply and demand for electricity, as well as impacts from climate change, including extreme weather events.

New risk paragraphs, against peers

Latest 10-K of each, Utilities companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$24.4B$24.9B$23.6B$25.5B
Net income−$160.0M$1.6B$3.7B$2.3B
Operating cash flow−$2.4B−$5.3B−$2.5B$4.2B
Free cash flow−$4.0B−$7.7B−$5.0B$1.3B

Revenue, FY2020 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$25.5B ▲ 8.3% in FY2025

FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Constellation Energy, Baltimore, MD · from the 10-K filed Feb 24, 2026

On February 21, 2021, the Board of Directors of Exelon authorized management to pursue a plan to separate its competitive generation and customer-facing energy businesses, conducted through Constellation and its subsidiaries, into an independent, publicly traded company. CEG Parent, a Pennsylvania corporation and a direct, wholly owned subsidiary of Exelon, was newly formed for the purpose of separation and had not engaged in any activities except in preparation for the distribution.

Headquarters
Baltimore, MD
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
December 31
Last results
Nov 9, 2026
Incorporated in
PA

Email alerts

Sources

The 10-K filed Feb 24, 2026 (open at SEC), compared with the 10-K filed Feb 18, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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