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Constellation Energy vs Energy Transfer: revenue, profit, margins and growth compared

Constellation Energy brought in $25.5B of revenue in fiscal 2025, Energy Transfer $85.5B in fiscal 2025. Revenue changed by +8.3% at Constellation Energy and +3.5% at Energy Transfer on the year before, so Constellation Energy grew faster. Constellation Energy kept 9.1% of its revenue as net profit, Energy Transfer 5.2%. Free cash flow was $1.3B at Constellation Energy and $3.8B at Energy Transfer.

Side by side, latest fiscal year

CEGET
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$25.5B$85.5B
Revenue growth+8.3%+3.5%
Net income$2.3B$4.4B
Net margin9.1%5.2%
Free cash flow$1.3B$3.8B
Free cash flow margin5.0%4.5%
Earnings per share (diluted)$7.40n/a
Cash$3.6B$1.3B
Debt$7.4B$68.3B
Price to earnings35.6n/a
Market value$93.3B$69.5B
Dividend yield0.15%n/a
Rank by revenue in sector#7 of 109 · Utilities#1 of 109 · Utilities

Over the years

Revenue
CEG FY2020: $17.6BCEG FY2022: $19.6BCEG FY2022: $24.4BCEG FY2023: $24.9BCEG FY2024: $23.6BCEG FY2025: $25.5BET FY2018: $54.1BET FY2019: $54.2BET FY2020: $39BET FY2021: $67.4BET FY2022: $89.9BET FY2023: $78.6BET FY2024: $82.7BET FY2025: $85.5BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $25.5BET $85.5B
Net income
CEG FY2020: $589MCEG FY2022: -$205MCEG FY2022: -$160MCEG FY2023: $1.6BCEG FY2024: $3.7BCEG FY2025: $2.3BET FY2018: $1.7BET FY2019: $3.5BET FY2020: -$648MET FY2021: $5.5BET FY2022: $4.8BET FY2023: $3.9BET FY2024: $4.8BET FY2025: $4.4BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $2.3BET $4.4B
Net margin
CEG FY2020: 3.3%CEG FY2022: -1.0%CEG FY2022: -0.7%CEG FY2023: 6.5%CEG FY2024: 15.9%CEG FY2025: 9.1%ET FY2018: 3.2%ET FY2019: 6.5%ET FY2020: -1.7%ET FY2021: 8.1%ET FY2022: 5.3%ET FY2023: 5.0%ET FY2024: 5.8%ET FY2025: 5.2%FY18FY19FY20FY21FY22FY23FY24FY25
CEG 9.1%ET 5.2%
Revenue growth
CEG FY2022: +11.6%CEG FY2022: +24.4%CEG FY2023: +2.0%CEG FY2024: -5.4%CEG FY2025: +8.3%ET FY2019: +0.2%ET FY2020: -28.1%ET FY2021: +73.1%ET FY2022: +33.3%ET FY2023: -12.6%ET FY2024: +5.2%ET FY2025: +3.5%FY19FY20FY21FY22FY23FY24FY25
CEG +8.3%ET +3.5%
Free cash flow
CEG FY2020: -$1.2BCEG FY2022: -$2.7BCEG FY2022: -$4BCEG FY2023: -$7.7BCEG FY2024: -$5BCEG FY2025: $1.3BET FY2018: $99MET FY2019: $2.1BET FY2020: $2.2BET FY2021: $8.3BET FY2022: $5.7BET FY2023: $6.4BET FY2024: $7.3BET FY2025: $3.8BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $1.3BET $3.8B

Fiscal years as each company reports them; the two may end in different months.

Questions about Constellation Energy and Energy Transfer

Which is bigger by revenue, Constellation Energy or Energy Transfer?

Energy Transfer is bigger by revenue: $85.5B in fiscal 2025, against $25.5B for Constellation Energy in fiscal 2025.

Which keeps more of its revenue as profit, Constellation Energy or Energy Transfer?

Constellation Energy had a net margin of 9.1% in fiscal 2025; Energy Transfer had 5.2% in fiscal 2025.

Which grew revenue faster, Constellation Energy or Energy Transfer?

In their latest fiscal years revenue changed by +8.3% at Constellation Energy and +3.5% at Energy Transfer.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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