CEGConstellation Energy
- Headquarters
- Baltimore, MD
- Next results
- around Feb 23, 2027
The biggest changes in the 10-K filed 2026-02-24, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
22.9% → 13.6% (-9.3 pts) Big change FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Net income
-38.1% Big change FY to 2025-12-31 vs 2024-12-31“The change in effective tax rate in 2025 compared to 2024 is primarily due to the decrease in nuclear PTCs generated, which are not taxable, as well as higher qualified NDT fund income that is taxed at a higher rate.”
Read it in the 10-K ↗
Revenue
+19.5% Big change FY to 2025-12-31 vs 2024-12-31“favorable wholesale load revenue of $325 primarily due to higher contracted energy prices; partially offset by”
Read it in the 10-K ↗
“favorable retail load revenue of $520 primarily due to higher contracted energy prices and load volumes”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on CEG in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
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