Constellation Energy Corporation

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

Quarters: Constellation Energy Corporation's SEC filings, named by the month they end. Fiscal years: Constellation Energy Corporation's annual reports to the SEC.

How it makes money

Of every $100 in revenue, $9.1 ends up as net income. Net margin rose from −0.7% to 9.1% over the past 3 years.

Each margin is that line of the income statement divided by revenue. Fiscal year: Constellation Energy Corporation's annual reports to the SEC.

Customers and suppliers

In its latest annual report Constellation Energy buys from PSEG Nuclear, STPNOC; sells to Microsoft, Meta Platforms.

Suppliers

PSEG Nuclear

S

STPNOC

 

CEGConstellation Energy

Customers

Meta Platforms META

Microsoft MSFT

Their customers

Take-Two Interactive Software TTWOfrom Meta Platforms

Zoom Communications ZMfrom Meta Platforms, Microsoft

Celsius Holdings CELHfrom Microsoft

Galaxy Digital GLXYfrom Microsoft

GameStop GMEfrom Microsoft

Show 5

Partners

NextEra Energy NEECo-owns and operates Wyman generating facility

Changes since the previous annual report (10-K filed Feb 18, 2025)

Meta Platforms METANamed for the first time, as a customer20-year PPA signed June 2025, beginning June 2027

NextEra Energy NEENo longer a supplier, still a partner

Only the companies Constellation Energy names in its 10-K filed Feb 24, 2026 (SEC). The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.

Is it expensive?

P/E of 22.7x, above the peer median of 17.7x, so it needs earnings to keep growing to hold up.

Priced 29% above the peer median of 17.7x (excludes 1 unprofitable peer).

CEG has no trailing P/E on its latest close from SEC filings; since Apr 2022 the median was 31.5×, the middle half 25.4×–39.0×.

Closing price over diluted earnings per share of the last four reported quarters, as known on each day (a quarter counts 35 days after it ends). From SEC filings; earnings per share adjusted for splits. The P/E in the key figures is Yahoo Finance's: the latest close over its trailing earnings.

What analysts expect

The average analyst price target is $338, 20% above the current price; 80% of 25 analysts rate it a buy; earnings beat estimates in all of the last 4 quarters.

Buy or Strong Buy: 20 analysts (80%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $403.75 to $340.27 (−16%), while CEG went from $335.74 to $282.40 (−16%). In the past three months targets were raised 5 times and cut 3 times. No firm upgraded or downgraded it over the year.

The day after each of these reports the stock moved +10.9% (Dec 2025, beat); −3.3% (Mar 2026, beat); +1.8% (Jun 2026, beat).

For the quarter ending Dec 2026, analysts expect revenue of $7.0B, up 14% on a year earlier. For the fiscal year ending Dec 2027, they expect revenue of $37.2B, up 3% on the year before's estimate.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $310M in free cash flow over the year and returned more than it generated: $550M went back to shareholders (dividends plus buybacks), so $240M came from cash on hand or borrowing.

Constellation Energy had 360M diluted shares in the quarter ended Jun 2026, 14.6% more than a year earlier, and 2.4% more each year on average since Jun 2022.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 1.5, no pressure to repay short-term debt; debt-to-equity 0.6, debt is moderate.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 1 member of Congress and 7 funds whose copy leaves CEG out (on the exchange, not in the app yet): Coatue Management, Canada Pension Plan Investment Board, Rob Bresnahan, Mirae Asset Global Investments, Swiss National Bank, Norges Bank and 2 more.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 11 held CEG at the end of their latest quarter (for most, Q2 2026). Over that quarter 3 added shares, 6 cut, 1 bought new and 1 held the same. The largest of them is Canada Pension Plan Investment Board, 5.01M shares worth $1.2B at Jun 30, 2026, 34.7% fewer than a quarter earlier.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of CEG at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors bought $418K of CEG on the open market in the 12 months to Nov 11, 2026; none sold. The largest was Roger W Crandall (Director), who bought $418K in 1 purchase.

From the Form 4s filed with the SEC about Constellation Energy Corporation (32 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 38 other transactions (grants, option exercises, shares withheld for tax and other transfers).