Duke Energy Corporation
DUKFinancial Analysis · Updated May 12, 2026 · Coverage 2026-Q2
Latest Q Revenue
$9.2B
Q1 2026 · +11.3% YoY
TTM ROIC
4.5%
FY2025 · NOPAT (Operating Income × (1 - effective tax rate)) / Invested Capital (Total Assets - Non-interest liabilities) · WACC ~6% · Moat spread +-1.5pp
Financial Snapshot
ticker: DUK step: 04 generated: 2026-05-12 source: quick-research
Duke Energy Corporation (DUK) — Financial Snapshot
Income Statement Summary
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | YoY (25) |
|---|---|---|---|---|---|
| Revenue | $28.7B | $29.0B | $30.4B | $32.2B | +6.2% |
| Operating Income | $5.0B | $6.6B | $6.6B | $7.0B | +6% |
| Net Income | $2.51B | $2.86B | $3.78B | $4.30B | +14% |
| Adjusted EPS | $5.27 | $5.56 | $5.90 | $6.20 | +5.1% |
| Rate Base | – | – | ~$95B | ~$104B | +9.5% |
FY25 adj EPS within $6.17-6.42 guidance range. Long-term EPS growth target 5-7% through 2029. FY25 rate base growth 9.5% drives EPS compounding.
Cash Flow & Balance Sheet (FY2024)
| Metric | Value |
|---|---|
| Operating Cash Flow | ~$10.5B |
| Capex | ~$13-15B annually (rising) |
| Free Cash Flow | negative (growth capex phase) |
| Cash & Equivalents | ~$0.5B |
| Total Debt | ~$80B |
| Net Debt/EBITDA | ~5.5x (typical utility) |
| Equity Issuance | ~$1.5B annually (growth funding) |
Key Ratios (approximate)
- P/E: ~22x | EV/EBITDA: ~13x | P/B: ~1.7x
- Revenue Growth (TTM): ~6% | Op Margin: ~22%
- Dividend Yield: ~3.6% | Dividend: $4.36/share (annual)
- 99-year consecutive dividend payment track record
Growth Profile
$103B 5-year capital plan ($75B through 2028) supports 9.6% rate base growth and 5-7% adj EPS growth through 2029. Major drivers: ~14 GW new generation (gas + storage + nuclear extensions + renewables); transmission grid investments; gas LDC expansion. Data center demand acceleration provides upside to base plan.
Forward Estimates
- FY 2026: Adj EPS $6.65-7.00 (5-7% growth); rate base ~$113B
- FY 2027: Adj EPS $7.05-7.50; data center demand acceleration to 3-4% load growth
- 2030 target: Adj EPS ~$8.50-9.00 with 14 GW capacity additions complete
- Carolinas Resource Plan + $103B capex plan + 4.5 GW signed data center ESAs
Deeper Financial Analysis
The fundamental tier adds 9 additional research dimensions for $DUK.
Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
GET /api/v1/research/DUK/fundamental$1.00 · Bearer token required