The company operates as a diversified electric power and energy infrastructure enterprise with two principal businesses, FPL and NEER. FPL is a rate-regulated electric utility engaged in the generation, transmission, distribution and sale of electric energy to retail and wholesale customers within Florida under rates approved by state and federal regulators. NEER develops, constructs and operates power generation and battery storage facilities using wind, solar, nuclear and natural gas resources, and also owns regulated electric and natural gas transmission assets, selling capacity, energy and related products through long-term contracts and market transactions to utilities, retail electricity providers, cooperatives, municipalities, and industrial and commercial customers across the United States and Canada.
| Income statement · $ millions | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| Total revenues | 25,800 | 23,500 | 24,800 | 3 |
| Depreciation, depletion and amortization | 6,580 | 5,462 | 5,879 | |
| Total operating expenses | 19,392 | 17,626 | 18,282 | |
| Operating income | 8,280 | 7,479 | 10,237 | |
| Other income (expense), net | (3,750) | (1,442) | (2,949) | |
| Income before income taxes | 4,530 | 6,037 | 7,288 | 1 |
| Income tax provision | (802) | 339 | 1,006 | 1 |
| Net income incl. noncontrolling interests | 5,332 | 5,698 | 6,282 | |
| Less: noncontrolling interests | — | — | (1,028) | |
| Net income attributable to common | 6,835 | 6,946 | 7,310 | 3 |
| Diluted earnings per share | $3.30 | $3.37 | $3.60 | |
| Weighted-average diluted shares | 2,071 | 2,059 | 2,031 | 1 |
| Cash flow · $ millions | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| Net income incl. noncontrolling interests | 5,332 | 5,698 | 6,282 | |
| Depreciation, depletion and amortization | 6,580 | 5,462 | 5,879 | |
| Deferred income taxes | 453 | 1,308 | 708 | |
| Net cash provided by operating activities | 12,485 | 13,260 | 11,301 | 3 |
| Net cash used in investing activities | (23,865) | (22,264) | (23,467) | |
| Dividends paid | 4,680 | 4,235 | 3,782 | |
| Debt issued | 23,394 | 24,769 | 13,857 | |
| Debt repaid | 10,347 | 10,113 | 7,978 | |
| Net cash used in financing activities | 12,979 | 7,000 | 12,149 | |
| Cash and equivalents at end of period | 3,006 | 1,402 | 3,420 |
| Balance sheet · $ millions | 2025 | 2024 | |
|---|---|---|---|
| Cash and cash equivalents | 2,812 | 1,487 | |
| Receivables, net | 4,018 | 3,336 | 1 |
| Inventories | 2,420 | 2,214 | 1 |
| Total current assets | 13,584 | 11,951 | |
| Property, plant and equipment, net | 156,197 | 138,852 | |
| Goodwill | 4,849 | 4,866 | 1 |
| Intangible assets, net | 1,630 | 1,578 | |
| Total assets | 212,721 | 190,144 | 1 |
| Current debt | 3,500 | 8,061 | |
| Total current liabilities | 22,817 | 25,355 | |
| Long-term debt | 89,556 | 72,385 | |
| Total liabilities | 146,242 | 129,283 | |
| Redeemable interests (temporary equity) | 0 | 401 | |
| Stockholders' equity | 54,608 | 50,101 | |
| Noncontrolling interests | 11,871 | 10,359 | |
| Total equity | 66,479 | 60,460 |
| Revenue by segment · as filed · $ millions | FY2025 | Share |
|---|---|---|
| Neer | 8,760 | 34.0% |
| Total revenues, as filed | 25,800 | 100.0% |
Single reportable segment: no segment breakdown filed.
| Revenue by product or service · as filed · $ millions | FY2025 | Share |
|---|---|---|
| Franchise and Gross Receipts Taxes | 1,114 | 4.3% |
| Total revenues, as filed | 25,800 | 100.0% |
One product line filed: no product breakdown.
Geographic revenue is tagged under the filer's own concept, not a standard one; not read.
Lines render when they sum to the filed total within 0.5 percent. A reconciling line the company filed closes the gap at any size, and the table is split: every line shown is filed, nothing is implied. A computed line, the filed total less the lines shown, closes up to 5 percent of the total; beyond that the table is partial and says so. Members that add to more than the filed total are a conflict and are not shown. The tolerance is 0.5 percent of the filed total or 2 million dollars, whichever is larger; for a filed total under 400 million dollars the floor is the binding one and the table says within tolerance. Every figure is as filed, in millions of dollars; shares are arithmetic on filed lines.
| Largest FY/FY moves · $ millions, ranked by |Δ| | FY2025 | FY2024 | Δ $ | Δ % | Reading |
|---|---|---|---|---|---|
| Total assets · BS | 212,721 | 190,144 | +22,577 | +11.9% | — |
| Property, plant and equipment, net · BS | 156,197 | 138,852 | +17,345 | +12.5% | — |
| Long-term debt · BS | 89,556 | 72,385 | +17,171 | +23.7% | — |
| Total liabilities · BS | 146,242 | 129,283 | +16,959 | +13.1% | — |
| Total equity · BS | 66,479 | 60,460 | +6,019 | +10.0% | — |
| Net cash used in financing activities · CF | 12,979 | 7,000 | +5,979 | +85.4% | ◐ outsized |
| Current debt · BS | 3,500 | 8,061 | −4,561 | -56.6% | ◐ outsized |
| Stockholders' equity · BS | 54,608 | 50,101 | +4,507 | +9.0% | — |
| Total current liabilities · BS | 22,817 | 25,355 | −2,538 | -10.0% | — |
| Other income (expense), net · IS | (3,750) | (1,442) | −2,308 | -160.1% | ◐ outsized |
| Total revenues · IS | 25,800 | 23,500 | +2,300 | +9.8% | — |
| Total operating expenses · IS | 19,392 | 17,626 | +1,766 | +10.0% | — |
| Total current assets · BS | 13,584 | 11,951 | +1,633 | +13.7% | — |
| Cash and equivalents at end of period · CF | 3,006 | 1,402 | +1,604 | +114.4% | ◐ outsized |
| Business quality — Buffett/Munger screen · deterministic · not part of the filing score | Value | Reading |
|---|---|---|
| Return on equity net income ÷ average of start- and end-of-year equity | 13.1% sector median 10.8% | adequate |
| Share count, year-end (year-end shares − prior year-end) ÷ prior year-end | +1.3% sector median +0.3% | diluting |
| Debt to equity (current debt + long-term debt) ÷ year-end equity | 1.70 sector median 1.66 | leveraged |
| FCF consistency operating cash flow − capital expenditure, per year | n/a | insufficient data |
| Margin stability pre-tax income ÷ revenue, swing across up to five years | pre-tax margin 17.6% sector median 16.3% | cyclical |
| Quarterly · as filed in 10-Q/10-K · $ millions | SEP 24 | MAR 25 | JUN 25 | SEP 25 | MAR 26 |
|---|---|---|---|---|---|
| Total revenues | 6,700 | 6,000 | 6,400 | 7,400 | 6,100 |
| Depreciation, depletion and amortization | — | 1,095 | — | — | 1,371 |
| Total operating expenses | 4,942 | 4,027 | 4,807 | 5,582 | 4,750 |
| Operating income | 2,856 | 2,256 | 1,911 | 2,527 | 2,208 |
| Other income (expense), net | (1,260) | (2,313) | (528) | (642) | (1,009) |
| Income before income taxes | 1,596 | (57) | 1,383 | 1,885 | 1,199 |
| Income tax provision | 5 | (521) | (256) | (250) | (489) |
| Net income incl. noncontrolling interests | 1,591 | 464 | 1,639 | 2,135 | 1,688 |
| Net income attributable to common | 1,852 | 833 | 2,028 | 2,438 | 2,182 |
| Diluted earnings per share | $0.90 | $0.40 | $0.98 | $1.18 | $1.04 |
| Weighted-average diluted shares | 2,061 | 2,061 | 2,061 | 2,071 | 2,092 |
| Net cash provided by operating activities | — | 2,769 | — | — | 2,614 |
| Largest QoQ moves · latest vs prior filed quarter | Prior | Latest | Δ $ | Δ % |
|---|---|---|---|---|
| Total revenues | 7,400 | 6,100 | −1,300 | -17.6% |
| Total operating expenses | 5,582 | 4,750 | −832 | -14.9% |
| Income before income taxes | 1,885 | 1,199 | −686 | -36.4% |
| Net income incl. noncontrolling interests | 2,135 | 1,688 | −447 | -20.9% |
| Other income (expense), net | (642) | (1,009) | −367 | -57.2% |
| Operating income | 2,527 | 2,208 | −319 | -12.6% |
| Depreciation, depletion and amortization | 1,095 | 1,371 | +276 | +25.2% |
| Net income attributable to common | 2,438 | 2,182 | −256 | -10.5% |
| Ownership — insiders & floatForm 4 + 10-K cover · open-market trades only | Value | Reading |
|---|---|---|
| Public float | $142,860M | 10-K cover · as of 2025-06-30 |
| Insider Form 4s, 90d | 5 filings · 1 non-market txns | quiet — awards/exercises only |
| Insider ownership % | — | needs the proxy statement — not read yet, never estimated |
| · The Vanguard Group | 9.93 % | 5%+ holder · DEF 14A filed 2026-04-01 |
| · BlackRock, Inc. | 7.26 % | 5%+ holder · DEF 14A filed 2026-04-01 |
| · State Street Corporation | 5.58 % | 5%+ holder · DEF 14A filed 2026-04-01 |
| Institutional % | 3 holders of 5%+ named | full 13F total pending — never estimated |
| · 10b5-1 adopted | Terrell Kirk Crews II, Executive Vice President, Chief Risk Officer | December 9, 2025 · 19,672 shares · 10-K insider trading arrangements |
| · 10b5-1 adopted | Mark Lemasney, Executive Vice President, Power Generation Division | December 9, 2025 · 3,217 shares · 10-K insider trading arrangements |
| · 10b5-1 adopted | James May, Executive Vice President, Treasurer | December 9, 2025 · 4,672 shares · 10-K insider trading arrangements |
| · 10b5-1 adopted | Nicole Daggs, Executive Vice President, Human Resources and Corporate Services | December 11, 2025 · 4,189 shares · 10-K insider trading arrangements |
Not investment advice. DHI Signal publishes impersonal, rules-based research; no recommendation to buy or sell any security is made or implied. Every statement figure is transcribed from NextEra Energy's Form 10-K for FY2025 (accession 0000753308-26-000015), pulled from EDGAR XBRL. Derived measures are computed only from lines shown on this page and the arithmetic is displayed so it can be checked. NEE is not in the tracked book. Market posture attaches only when the dashboard feed carries the name; this page computes none of it.