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

Constellation Energy brought in $25.5B of revenue in fiscal 2025, Nrg Energy $30.7B in fiscal 2025. Revenue changed by +8.3% at Constellation Energy and +9.2% at Nrg Energy on the year before, so Nrg Energy grew faster. Constellation Energy kept 9.1% of its revenue as net profit, Nrg Energy 2.8%. Free cash flow was $1.3B at Constellation Energy and $766M at Nrg Energy.

Side by side, latest fiscal year

CEGNRG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$25.5B$30.7B
Revenue growth+8.3%+9.2%
Net income$2.3B$864M
Net margin9.1%2.8%
Free cash flow$1.3B$766M
Free cash flow margin5.0%2.5%
Earnings per share (diluted)$7.40$4.01
Cash$3.6B$4.7B
Debt$7.4B$16.6B
Price to earnings35.625.0
Market value$93.3B$21.1B
Dividend yield0.15%1.75%
Rank by revenue in sector#7 of 109 · Utilities#4 of 109 · Utilities

Over the years

Revenue
CEG FY2020: $17.6BCEG FY2022: $19.6BCEG FY2022: $24.4BCEG FY2023: $24.9BCEG FY2024: $23.6BCEG FY2025: $25.5BNRG FY2018: $9.5BNRG FY2019: $9.8BNRG FY2020: $9.1BNRG FY2021: $27BNRG FY2022: $31.5BNRG FY2023: $28.8BNRG FY2024: $28.1BNRG FY2025: $30.7BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $25.5BNRG $30.7B
Net income
CEG FY2020: $589MCEG FY2022: -$205MCEG FY2022: -$160MCEG FY2023: $1.6BCEG FY2024: $3.7BCEG FY2025: $2.3BNRG FY2018: $268MNRG FY2019: $4.4BNRG FY2020: $510MNRG FY2021: $2.2BNRG FY2022: $1.2BNRG FY2023: -$202MNRG FY2024: $1.1BNRG FY2025: $864MFY18FY19FY20FY21FY22FY23FY24FY25
CEG $2.3BNRG $864M
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%NRG FY2018: 2.8%NRG FY2019: 45.2%NRG FY2020: 5.6%NRG FY2021: 8.1%NRG FY2022: 3.9%NRG FY2023: -0.7%NRG FY2024: 4.0%NRG FY2025: 2.8%FY18FY19FY20FY21FY22FY23FY24FY25
CEG 9.1%NRG 2.8%
Revenue growth
CEG FY2022: +11.6%CEG FY2022: +24.4%CEG FY2023: +2.0%CEG FY2024: -5.4%CEG FY2025: +8.3%NRG FY2019: +3.6%NRG FY2020: -7.4%NRG FY2021: +196.8%NRG FY2022: +16.9%NRG FY2023: -8.6%NRG FY2024: -2.4%NRG FY2025: +9.2%FY19FY20FY21FY22FY23FY24FY25
CEG +8.3%NRG +9.2%
Free cash flow
CEG FY2020: -$1.2BCEG FY2022: -$2.7BCEG FY2022: -$4BCEG FY2023: -$7.7BCEG FY2024: -$5BCEG FY2025: $1.3BNRG FY2018: $989MNRG FY2019: $1.2BNRG FY2020: $1.6BNRG FY2021: $224MNRG FY2022: -$7MNRG FY2023: -$819MNRG FY2024: $1.8BNRG FY2025: $766MFY18FY19FY20FY21FY22FY23FY24FY25
CEG $1.3BNRG $766M

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

Questions about Constellation Energy and Nrg Energy

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

Nrg Energy is bigger by revenue: $30.7B in fiscal 2025, against $25.5B for Constellation Energy in fiscal 2025.

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

Constellation Energy had a net margin of 9.1% in fiscal 2025; Nrg Energy had 2.8% in fiscal 2025.

Which grew revenue faster, Constellation Energy or Nrg Energy?

In their latest fiscal years revenue changed by +8.3% at Constellation Energy and +9.2% at Nrg Energy.

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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