Constellation Energy Corp（CEG）の決算・業績分析
Constellation Energy Corpの2025年有価証券報告書をAI分析。売上高$22.7B(+19.5%)。営業利益$3.1B。Utilities。
目次
Constellation Energy Corpの2025年度 業績サマリー
Constellation Energy Corp（証券コード: CEG）の2025年度決算・業績分析。売上高は$22.7B（前年比+19.5%）。営業利益は$3.1B（前年比-29.1%）。純利益は$2.3B（前年比-38.1%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Constellation Energy Corpの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Operating Income surged 243.1% YoY to $495M (XBRL), driven by growth in emissions-free energy generation.
- Revenue increased 25.0% YoY to $21.6B (XBRL), but Net Income remained negative at -$160M (XBRL).
- Debt levels are elevated, with Net Debt at $7.1B (4.5x EBITDA) (XBRL) and a D/E ratio of 3.61x (XBRL).
Constellation Energy Corpの売上高変化の要因
- •Revenue grew 25.0% YoY to $21.6B (XBRL), reflecting a 5-year CAGR of +8.3% (XBRL). However, FY2025 revenue declined slightly to $20.8B (XBRL). Segment-specific revenue data is not disclosed in the XBRL or 10-K (XBRL). Growth drivers include expansion in renewable energy generation and continued demand from large business customers (10-K).
Constellation Energy Corpの営業利益変化の要因
- •Operating Income increased 243.1% YoY to $495M (XBRL), but Net Income remained negative at -$160M (XBRL) (+22.0% YoY). Margins were weak: Operating Margin 2.3% (XBRL), Net Margin -0.7% (XBRL). EBITDA reached $1.6B (7.2% of revenue) (XBRL), indicating strong cash generation despite net losses.
Constellation Energy Corpの事業リスクと対応
Fuel price volatility and supply risks impact cost structures and margins (10-K).
Regulatory and legal risks from license renewals, environmental policies, and tax changes (10-K).
Operational risks include climate change impacts, nuclear facility safety, and cybersecurity threats (10-K).
Acquisition risks related to Calpine integration, regulatory delays, and potential dilution (10-K).
Market design and competition risks affect revenue and margins (10-K).
Constellation Energy Corpの事業内容
Constellation Energy Corp (CEG) generates revenue through producing and selling emissions-free energy (nuclear, hydro, wind, solar) and supplying energy solutions to businesses, homes, and public sector customers (10-K). Its primary segments include Mid-Atlantic (Eastern PJM), Midwest (Western PJM/MISO), New York (NYISO), ERCOT (Texas), and Other Power Regions (New England, Canada, etc.) (10-K). The company's competitive advantages include its largest carbon-free generation fleet (nearly 90% carbon-free output) and leadership in supplying energy to major businesses (10-K). Key customers include businesses (including 3/4 of Fortune 100 companies), homes, and public sector entities (10-K), with no significant customer concentration noted (10-K).
Constellation Energy CorpのAI業績分析レポート（2024年度）
Constellation Energy Corp (CEG) FY2024 Annual Report Analysis
Highlights
Business Overview
Constellation Energy Corp generates revenue through producing and selling emissions-free energy (nuclear, hydro, wind, solar) and supplying energy solutions to businesses, homes, and public sector customers (10-K). Its primary segments include Mid-Atlantic (Eastern PJM), Midwest (Western PJM/MISO), New York (NYISO), ERCOT (Texas), and Other Power Regions (New England, Canada, etc.) (10-K). The company's competitive advantages include its largest carbon-free generation fleet (nearly 90% carbon-free output) and leadership in supplying energy to major businesses (10-K). Key customers include businesses (including 3/4 of Fortune 100 companies), homes, and public sector entities (10-K), with no significant customer concentration noted (10-K).
Revenue Analysis
Revenue grew 25.0% YoY to $21.6B (XBRL), reflecting a 5-year CAGR of +8.3% (XBRL). However, FY2025 revenue declined slightly to $20.8B (XBRL). Segment-specific revenue data is not disclosed in the XBRL or 10-K (XBRL). Growth drivers include expansion in renewable energy generation and continued demand from large business customers (10-K).
Profitability Analysis
Operating Income increased 243.1% YoY to $495M (XBRL), but Net Income remained negative at -$160M (XBRL) (+22.0% YoY). Margins were weak: Operating Margin 2.3% (XBRL), Net Margin -0.7% (XBRL). EBITDA reached $1.6B (7.2% of revenue) (XBRL), indicating strong cash generation despite net losses.
Balance Sheet Analysis
Total Assets rose to $50.8B (XBRL) in FY2024, but Total Equity declined to $10.9B (XBRL). Equity Ratio was 21.5% (XBRL), and D/E Ratio stood at 3.61x (XBRL). Liquidity was $422M in Cash (XBRL), with a Current Ratio of 1.31x (XBRL). Net Debt of $7.1B (4.5x EBITDA) (XBRL) highlights significant leverage.
Cash Flow Analysis
Operating Cash Flow was -$2.4B (XBRL), with Free Cash Flow (FCF) at -$4.0B (XBRL) due to CapEx of $1.7B (XBRL). Investing Cash Flow was positive $3.1B (XBRL), likely from asset sales or reinvestment. Financing Cash Flow was -$799M (XBRL), including Dividends Paid of $185M (XBRL) and no Share Repurchases (XBRL).
Working Capital Analysis
Receivables Days: 33 days (XBRL), Payables Days: 22 days (XBRL), Asset Turnover: 0.42x (XBRL). No data available for Inventory Days or Cash Conversion Cycle (CCC).
Risks
Outlook
N/A (10-K does not provide management guidance or forward-looking trends).
Historical Time Series
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | 16.4B | 17.3B | 21.6B | 20.8B |
| Operating Income | 256M | -346M | 495M | 1.6B |
| Net Income | 589M | -205M | -160M | 1.6B |
| Total Assets | 48.1B | 46.9B | 50.8B | 52.9B |
| Total Equity | 11.2B | 11.0B | 10.9B | 13.2B |
| Operating Cash Flow | 584M | -1.3B | -2.4B | -5.3B |
Utilitiesの企業一覧
Constellation Energy Corpと同じ「Utilities」セクターの企業