Tearsheet

Duke Energy (DUK)

Market Price (12/2/2025): $120.715 | Market Cap: $93.9 Bil
Sector: Utilities | Industry: Electric Utilities

Duke Energy (DUK)

Market Price (12/2/2025): $120.715
Market Cap: $93.9 Bil
Sector: Utilities
Industry: Electric Utilities

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%	Weak multi-year price returns 2Y Excs Rtn is -5.9%, 3Y Excs Rtn is -31%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 92%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, CFO LTM is 12 Bil		Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.9%
2	Low stock price volatility Vol 12M is 17%
3	Megatrend and thematic drivers Megatrends include Renewable Energy Transition, Smart Grids & Grid Modernization, and Electrification of Everything. Themes include Solar Energy Generation, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, CFO LTM is 12 Bil
2	Low stock price volatility Vol 12M is 17%
3	Megatrend and thematic drivers Megatrends include Renewable Energy Transition, Smart Grids & Grid Modernization, and Electrification of Everything. Themes include Solar Energy Generation, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -5.9%, 3Y Excs Rtn is -31%
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 92%
6	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.9%

Valuation, Metrics & Events

	12/2/25	2024	2023	2022	2021
Share Price CYE	$120.72	$103.98	$89.98	$91.47	$89.65
Market Cap CYE ($ Bil)	93.9	80.3	69.4	70.4	68.9
Total Debt ($ Bil)	89.6	85.2	80.5	74.6	68.3
Total Cash ($ Bil)	0.7	0.3	0.3	0.4	0.3
Enterprise Value ($ Bil)	182.9	165.5	149.9	145.0	137.2
Valuation Ratios
P/S TTM	3.0	2.7	2.6	2.8	3.3
P/EBIT TTM	10.4	9.7	9.6	12.2	13.0
P/E TTM	19.3	18.4	26.3	31.1	20.6
Sector Ratios
P/S TTM (Sector)	2.8	2.4	2.2	2.3	2.5
P/EBIT TTM (Sector)	10.6	9.6	9.8	12.1	12.6
P/E TTM (Sector)	18.8	18.5	16.6	19.9	20.1

	12/2/25	2024	2023
Share Price CYE	$120.72	$103.98	$89.98
Market Cap CYE ($ Bil)	93.9	80.3	69.4
Total Debt ($ Bil)	89.6	85.2	80.5
Total Cash ($ Bil)	0.7	0.3	0.3
Enterprise Value ($ Bil)	182.9	165.5	149.9
Valuation Ratios
P/S TTM	3.0	2.7	2.6
P/EBIT TTM	10.4	9.7	9.6
P/E TTM	19.3	18.4	26.3
Sector Ratios
P/S TTM (Sector)	2.8	2.4	2.2
P/EBIT TTM (Sector)	10.6	9.6	9.8
P/E TTM (Sector)	18.8	18.5	16.6

	DUK	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	31.7
Rev Chg Q	4.8%	7.1%
Rev Chg LTM	4.8%	6.1%
Rev Chg 3Y Avg	5.2%	5.5%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	8.6
CFO LTM ($ Bil)	12.0
Net Inc LTM ($ Bil)	5.0
Op Mgn LTM	27.1%	18.8%
CFO/Rev LTM	38.1%	20.5%
Net Inc Mgn	15.8%	13.1%
VALUATION	MODERATE
P/S	3.0	3.2
P/CFO	8.0	15.8
P/FCF	-104.5	20.5
P/E	19.3	23.5
STABILITY	POOR
Debt/Equity	0.93	0.20
Cash/Assets	0.00	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Total Electric Customers	8.6 million	10012025	Link
Total Natural Gas Customers	1.7 million	10012025	Link
Owned Energy Capacity	55,100 megawatts	10012025	Link
Service Territory Size	90,000 square miles	4012025	Link
Electric Distribution Power Lines	286,600 miles	4012025	Link
Electric Transmission Power Lines	31,700 miles	4012025	Link
Five-Year Capital Plan	$87 billion	8052025	Link
Renewable Capacity Goal by 2025	16 GW	10092020	Link
Customer Outages Avoided (2024)	2.3 million	5012025	Link
Outage Hours Saved (2024)	11 million	5012025	Link

Recent
11/06/2025	Earnings Release	Rev: $8.0 Bil (A) vs. $8.0 Bil (E) EPS: 1.81 (A) vs. $1.76 (E)
11/14/2025	Dividend	Amount: $1.07 Payment On: 12/16/2025
Upcoming
2/12/2026	Earnings Release	Rev: - EPS: -

DUK Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are five key points explaining Duke Energy's stock movement during the approximate period from August 31, 2025, to December 2, 2025: 1. Reduced Rate Hike Approval in South Carolina. Duke Energy Carolinas proposed a significantly reduced rate hike, with the approved annual revenue increase of $74.2 million being about half of the initially sought $150.5 million. While this benefits customers, a smaller-than-expected revenue increase could be viewed negatively by investors as it impacts future earnings potential.

2. Expanded Capital Plan and Future Financing Needs. Duke Energy unveiled an expanded five-year capital plan ranging from $95 billion to $105 billion, an increase from its current $87 billion plan. The company anticipates financing 30% to 50% of this expansion through new equity or similar mechanisms, which could lead to concerns about potential shareholder dilution or increased debt.

3. Regulatory and Public Scrutiny Over North Carolina Rate Proposals. Duke Energy filed requests with the North Carolina Utilities Commission for revised rates, proposing an approximate 15% increase over two years for its North Carolina utilities. Such substantial proposed increases typically face rigorous regulatory review and public opposition, contributing to investor uncertainty.

4. Shift in Long-Term Energy Strategy. The 2025 Carolinas Resource Plan, filed by Duke Energy, outlined a strategic shift in its energy generation mix. The plan includes a significant increase in natural gas capacity, a delay in some coal plant retirements, and a reduction or elimination of new solar and wind projects, partly due to changes in federal energy policy. This revised approach has drawn criticism from clean energy advocates and could present long-term regulatory and environmental challenges.

5. Ongoing Antitrust Litigation. The Department of Justice supported an appeals court's finding in an electricity transmission case, stating that Duke Energy's conduct could be deemed anticompetitive. This ongoing legal challenge could expose the company to reputational damage and potential financial liabilities.

Show less

Stock Movement Drivers

Fundamental Drivers

The -0.6% change in DUK stock from 9/1/2025 to 12/1/2025 was primarily driven by a -3.2% change in the company's P/E Multiple.

	9012025	12012025	Change
Stock Price ($)	121.43	120.75	-0.56%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	31271.00	31659.00	1.24%
Net Income Margin (%)	15.51%	15.76%	1.63%
P/E Multiple	19.46	18.83	-3.23%
Shares Outstanding (Mil)	777.00	778.00	-0.13%
Cumulative Contribution			-0.56%

LTM = Last Twelve Months as of date shown

Market Drivers

9/1/2025 to 12/1/2025

	Return	Correlation
DUK	-0.6%
Market (SPY)	5.5%	-23.3%
Sector (XLU)	5.0%	55.5%

Fundamental Drivers

The 4.8% change in DUK stock from 6/2/2025 to 12/1/2025 was primarily driven by a 2.3% change in the company's Total Revenues ($ Mil).

	6022025	12012025	Change
Stock Price ($)	115.22	120.75	4.80%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	30935.00	31659.00	2.34%
Net Income Margin (%)	15.40%	15.76%	2.31%
P/E Multiple	18.79	18.83	0.22%
Shares Outstanding (Mil)	777.00	778.00	-0.13%
Cumulative Contribution			4.80%

LTM = Last Twelve Months as of date shown

Market Drivers

6/2/2025 to 12/1/2025

	Return	Correlation
DUK	4.8%
Market (SPY)	15.1%	-13.1%
Sector (XLU)	8.5%	63.0%

Fundamental Drivers

The 6.9% change in DUK stock from 12/1/2024 to 12/1/2025 was primarily driven by a 10.1% change in the company's Net Income Margin (%).

	12012024	12012025	Change
Stock Price ($)	112.96	120.75	6.89%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	30209.00	31659.00	4.80%
Net Income Margin (%)	14.31%	15.76%	10.09%
P/E Multiple	20.17	18.83	-6.64%
Shares Outstanding (Mil)	772.00	778.00	-0.78%
Cumulative Contribution			6.89%

LTM = Last Twelve Months as of date shown

Market Drivers

12/1/2024 to 12/1/2025

	Return	Correlation
DUK	6.9%
Market (SPY)	14.0%	-2.2%
Sector (XLU)	9.1%	62.8%

Fundamental Drivers

The 36.6% change in DUK stock from 12/2/2022 to 12/1/2025 was primarily driven by a 16.5% change in the company's Total Revenues ($ Mil).

	12022022	12012025	Change
Stock Price ($)	88.38	120.75	36.62%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	27179.00	31659.00	16.48%
Net Income Margin (%)	14.47%	15.76%	8.93%
P/E Multiple	17.31	18.83	8.79%
Shares Outstanding (Mil)	770.00	778.00	-1.04%
Cumulative Contribution			36.60%

LTM = Last Twelve Months as of date shown

Market Drivers

12/2/2023 to 12/1/2025

	Return	Correlation
DUK	40.6%
Market (SPY)	51.6%	-1.0%
Sector (XLU)	47.1%	70.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
DUK Return	5%	19%	2%	-2%	16%	16%	68%
Peers Return	1%	18%	2%	1%	31%	24%	99%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	111%
Monthly Win Rates [3]
DUK Win Rate	58%	67%	58%	58%	58%	90%
Peers Win Rate	42%	48%	64%	53%	62%	66%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
DUK Max Drawdown	-29%	-6%	-16%	-14%	-6%	-2%
Peers Max Drawdown	-25%	-8%	-12%	-19%	-7%	-15%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: NEE, CEG, AEP, EXC, EIX. See DUK Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/1/2025 (YTD)

How Low Can It Go

Unique Key	Event	DUK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-24.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	33.1%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	692 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-37.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	59.7%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	413 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-20.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	26.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	288 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-42.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	74.9%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	969 days	1480 days

Compare to NEE, CEG, AEP, EXC, EIX

In The Past

Duke Energy's stock fell -24.9% during the 2022 Inflation Shock from a high on 5/27/2022. A -24.9% loss requires a 33.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Duke Energy (DUK)

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest; and uses coal, hydroelectric, natural gas, oil, renewable generation, and nuclear fuel to generate electricity. It also engages in the wholesale of electricity to municipalities, electric cooperative utilities, and load-serving entities. This segment serves approximately 8.2 million customers in 6 states in the Southeast and Midwest regions of the United States covering a service territory of approximately 91,000 square miles; and owns approximately 50,259 megawatts (MW) of generation capacity. The Gas Utilities and Infrastructure segment distributes natural gas to residential, commercial, industrial, and power generation natural gas customers; and owns, operates, and invests in pipeline transmission and natural gas storage facilities. It has approximately 1.6 million customers, including 1.1 million customers in North Carolina, South Carolina, and Tennessee, as well as 550,000 customers in southwestern Ohio and northern Kentucky. The Commercial Renewables segment acquires, owns, develops, builds, and operates wind and solar renewable generation projects, including nonregulated renewable energy and energy storage services to utilities, electric cooperatives, municipalities, and corporate customers. It has 23 wind, 178 solar, and 2 battery storage facilities, as well as 71 fuel cell locations with a capacity of 3,554 MW across 22 states. The company was formerly known as Duke Energy Holding Corp. and changed its name to Duke Energy Corporation in April 2005. The company was founded in 1904 and is headquartered in Charlotte, North Carolina.

AI Generated Analysis | Feedback

Here are 1-3 brief analogies for Duke Energy (DUK):

Like AT&T (the telecom company), but it delivers electricity and natural gas instead of phone and internet services.
Like the U.S. Postal Service (USPS), but instead of mail, it delivers electricity and natural gas to homes and businesses across several states.

AI Generated Analysis | Feedback

Electric Power Service: Duke Energy generates, transmits, and distributes electricity to residential, commercial, and industrial customers across its service territories.
Natural Gas Service: The company distributes natural gas to residential, commercial, and industrial customers primarily in North Carolina, South Carolina, Tennessee, and Ohio.
Commercial Renewables: Duke Energy develops, owns, and operates utility-scale wind and solar power generation facilities across the United States.

AI Generated Analysis | Feedback

```html

Duke Energy (symbol: DUK) is an electric power and natural gas holding company. As a regulated utility, it primarily sells electricity and natural gas directly to a broad base of end-use customers rather than to a few major corporate customers.

The company primarily serves the following categories of customers:

Residential Customers: This category includes individual households and consumers who use electricity and natural gas for their homes. These customers represent a significant portion of Duke Energy's customer base, utilizing energy for heating, cooling, lighting, and appliances.
Commercial Customers: This category encompasses a wide range of businesses, including small to medium-sized enterprises such as retail stores, office buildings, restaurants, hospitals, schools, and government facilities. They use energy for their operations, lighting, HVAC systems, and equipment.
Industrial Customers: This category consists of large manufacturing plants, factories, and other energy-intensive industrial operations. These customers typically have very high energy demands for production processes, machinery, and large-scale facilities.

```

AI Generated Analysis | Feedback

null

AI Generated Analysis | Feedback

Harry Sideris, President and Chief Executive Officer

Harry Sideris became President and Chief Executive Officer of Duke Energy effective April 1, 2025. He is a 29-year veteran of Duke Energy and its predecessors, having started his career at Progress Energy (formerly Carolina Power & Light) prior to its merger with Duke Energy in 2012. Before becoming CEO, Sideris served as president of Duke Energy, leading the company's electric and natural gas utilities. His previous leadership roles include executive vice president of customer experience, solutions and services; president of Duke Energy's utility operations in Florida; and vice president of environmental, health and safety. Information regarding him founding or managing other companies, selling companies he was previously involved with to an acquirer, or a pattern of managing companies backed by private equity firms is not available in the provided sources.

Brian Savoy, Executive Vice President and Chief Financial Officer

Brian Savoy assumed the role of Executive Vice President and Chief Financial Officer for Duke Energy in September 2022. He joined Duke Energy in 2001 and has held various leadership positions within the company, including executive vice president and chief strategy and commercial officer, chief transformation and administrative officer, and chief accounting officer and controller. Prior to joining Duke Energy, Savoy was a manager with the international accounting firm Deloitte & Touche. He played a key role in the successful wind-down and disposition of Duke Energy North America in 2005. Information regarding him founding or managing other companies (beyond his role at Deloitte & Touche), selling companies he was previously involved with to an acquirer, or a pattern of managing companies backed by private equity firms is not available in the provided sources.

Kodwo Ghartey-Tagoe, Executive Vice President and CEO, Duke Energy Carolinas and Head of the Natural Gas Business Unit

Kodwo Ghartey-Tagoe will take on the role of Executive Vice President and CEO of Duke Energy Carolinas and head of the Natural Gas Business Unit effective July 1, 2025. He joined Duke Energy in 2002 and previously served as Executive Vice President, Chief Legal Officer, and Corporate Secretary. His past experience at Duke Energy also includes serving as president of Duke Energy's electric utility operations in South Carolina. Before joining Duke Energy, Ghartey-Tagoe was a partner with McGuireWoods LLP.

Alex Glenn, Executive Vice President and Chief Legal Officer

Alex Glenn will become Executive Vice President and Chief Legal Officer, effective July 2025, overseeing legal, ethics, compliance, and corporate audit functions. He has nearly 30 years of experience with Duke Energy and its predecessors. Previously, Glenn was the Executive Vice President and Chief Executive Officer for Duke Energy Florida and Midwest. Before joining the company, he practiced energy law at Morgan, Lewis & Bockius LLP.

Louis Renjel, Executive Vice President and Chief Executive Officer, Duke Energy Florida and Midwest, and Chief Corporate Affairs Officer

Louis Renjel will serve as Executive Vice President and Chief Executive Officer of Duke Energy Florida and Midwest, while also continuing as Chief Corporate Affairs Officer, effective July 1, 2025. Renjel joined Duke Energy in March 2017, bringing significant expertise from his previous long tenure as an executive at CSX Corporation.

AI Generated Analysis | Feedback

Accelerated Adoption of Distributed Generation and Energy Storage: The rapidly declining costs of rooftop solar panels and battery storage, combined with increasing consumer desire for energy independence and resilience, pose a clear threat. This enables customers to generate their own electricity and reduce reliance on utility-provided grid power, directly challenging Duke Energy's traditional business model of centralized generation and electricity sales. Evidence includes the ongoing reduction in solar and battery costs, state and federal incentives, and the increasing rate of customer-owned solar installations in Duke Energy's service territories.
Rapid Decarbonization Mandates and Stranded Assets: Increasing regulatory pressure and ambitious mandates for decarbonization from state and federal governments represent a significant threat. These mandates could force Duke Energy to prematurely retire its substantial investments in fossil fuel-fired power plants (coal and natural gas) before the end of their useful life, leading to the risk of "stranded assets." This necessitates massive and rapid capital investments in new, cleaner generation sources, potentially at a faster pace and higher cost than currently planned. Evidence includes aggressive carbon reduction goals set by governments (e.g., North Carolina's HB951) and Duke Energy's own commitment to net-zero carbon emissions by 2050, signaling a fundamental shift in the operating environment.

AI Generated Analysis | Feedback

Duke Energy (DUK) operates primarily in three main segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The addressable market sizes for their main products and services in the United States are as follows:

Electric Utilities and Infrastructure: This segment involves the generation, transmission, distribution, and sale of electricity to 8.6 million customers across North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.
- The U.S. electricity sector generated approximately $491 billion in revenue in 2023.
- The overall U.S. power market size was valued at USD 363.74 billion in 2024 and is projected to reach USD 380.33 billion in 2025.
- The U.S. electricity transmission and distribution market alone was valued at USD 82.96 billion in 2022.
Gas Utilities and Infrastructure: This segment focuses on the transportation and sale of natural gas, serving 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio, and Kentucky.
- The U.S. natural gas distribution market was valued at USD 170.0 billion in 2024 and is expected to grow to USD 186.0 billion by 2032.
- Another estimate places the U.S. natural gas distribution market size at $174.7 billion in 2024, projected to reach $222.5 billion in 2025.
Commercial Renewables: Duke Energy develops and operates renewable energy projects, including wind and solar farms, across the United States. While a specific total addressable market size solely for "commercial renewables development and operation" is not distinctly separated from the broader electricity market in the provided data, the renewable energy segment constituted 23.1% of the U.S. power market share in 2024. Duke Energy Renewables operates 15 wind farms and 21 solar farms with nearly 1,800 megawatts of generating capacity in 12 states.

AI Generated Analysis | Feedback

Duke Energy (DUK) is anticipated to experience revenue growth over the next 2-3 years, driven by several key factors:

Rate Adjustments and Constructive Regulatory Outcomes: Duke Energy expects revenue growth through the implementation of new multi-year rate plans and favorable regulatory decisions in its service territories, including Florida, the Carolinas, and Indiana. These outcomes allow for the recovery of investments and ensure appropriate returns.
Customer and Population Growth: The company is benefiting from consistent residential customer growth, particularly in high-growth states like North Carolina and Florida. Overall population growth in the Southeast regions served by Duke Energy contributes to an expanding customer base and increased energy demand.
Increased Energy Demand from Economic Development: A significant driver of future revenue growth is the surging electricity demand from economic development projects, most notably the expansion of data centers and advanced manufacturing facilities. Duke Energy projects that data centers alone could account for 25% of new customer load by 2028, and load growth from 2027 to 2029 is expected to accelerate.
Strategic Capital Investments in Infrastructure and Clean Energy Transition: Duke Energy plans substantial capital expenditures, including an estimated $87 billion during the 2025-2029 period, to modernize its infrastructure, enhance service reliability, and strengthen its renewable generation portfolio. These investments include advancing solar procurement in the Carolinas and Florida, as well as incorporating natural gas for dispatchable power, which are critical for meeting growing demand and supporting the clean energy transition.

AI Generated Analysis | Feedback

 Share Issuance

    In November 2019, Duke Energy priced a public offering of 25 million shares of its common stock at $86.45 per share, with settlement expected on or prior to December 31, 2020.
    Duke Energy plans to raise $6.5 billion in equity during its 2025-2029 capital plan, including $1 billion in 2025, to help finance its increased capital expenditures.
    The company aims to raise $500 million annually through equity over the five-year period starting in 2024 to support its growth strategy.

 Capital Expenditures

    Duke Energy plans to invest $83 billion over the next five years (2025-2029), representing a 13.7% increase from prior projections, with a focus on infrastructure modernization and meeting growing energy demand.
    In 2021, the company outlined a $59 billion capital spending plan for the five-year period ending in 2024, with approximately 70% allocated to clean energy and green infrastructure projects.
    The primary focus of capital expenditures includes doubling its renewable capacity to 16 GW by 2025, tripling regulated renewable capacity by 2030, enhancing grid reliability and resiliency, supporting data center demand, and adding 5 GW of natural gas generation by 2029.

Better Bets than Duke Energy (DUK)

	DUK	Better Performance than DUK
Metric	Value	INDUSTRY: Electric Utilities
Rev Chg LTM	4.8%	SO (9.4%), AEP (8.4%), ETR (7.3%), EXC (6.1%), VST (5.7%)
Rev Chg 3Y Avg	5.2%	VST (9.5%), EXC (8.9%), PPL (8.6%), PEG (7.4%), FE (6.6%)
Op Mgn LTM	27.1%	FTS (29.0%), EIX (28.9%)
CFO/Rev LTM	38.1%	ETR (41.7%), MGEE (40.9%)
FCF/Rev LTM	-2.9%	LNT (27.0%), VST (9.6%), WEC (1.6%), CEG (-1.1%), PEG (-1.5%)
Total Yield	6.0%	EXC (9.7%), AEP (9.4%), PEG (8.0%), SO (7.1%), ETR (6.9%)
P/S	3.0	FE (1.8), EXC (1.9), ES (2.0), FTS (2.1), AEP (2.8)
P/Op Inc	11.2	EIX (4.1), FTS (7.3), EXC (9.0), ES (9.1), FE (9.6)

	DUK	Better Performance than DUK
Metric	Value	SECTOR: Utilities
Rev Chg LTM	4.8%	SO (9.4%), AEP (8.4%), SRE (6.1%), VST (5.7%), D (5.3%)
Rev Chg 3Y Avg	5.2%	NEE (11.4%), VST (9.5%), EXC (8.9%), D (7.5%), PEG (7.4%)
Op Mgn LTM	27.1%	AWK (37.0%), ATO (33.0%), D (29.7%), FTS (29.0%), NEE (28.2%)
CFO/Rev LTM	38.1%	NEE (45.5%), ATO (44.0%), ETR (41.7%), AWK (40.1%), WTRG (40.0%)
FCF/Rev LTM	-2.9%	NEE (11.7%), VST (9.6%), ED (-0.4%), CEG (-1.1%), PEG (-1.5%)
Total Yield	6.0%	AEP (9.4%), D (8.7%), SO (7.1%), NEE (7.1%), XEL (6.6%)
P/S	3.0	NRG (1.0), PCG (1.3), EXC (1.9), ED (2.2), AEP (2.8)
P/Op Inc	11.2	PCG (7.1), FTS (7.3), EXC (9.0), ES (9.1), FE (9.6)

	DUK	Better Performance than DUK
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	4.8%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	5.2%	NVDA (92.0%), AVGO (24.0%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%)
Op Mgn LTM	27.1%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	38.1%	META (56.8%), MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), GOOGL (39.3%)
FCF/Rev LTM	-2.9%	NVDA (43.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%), AMZN (2.0%)
Total Yield	6.0%	XOM (10.3%), JNJ (8.4%), BAC (7.7%), JPM (6.7%), BRK-B (6.2%)
P/S	3.0	WMT (1.1), XOM (1.4), COST (1.5), HD (2.2), BRK-B (2.7)
P/Op Inc	11.2	VZ (5.9), BUD (7.7), T (8.3), MRK (9.4), PFE (9.4)

		Best Bets In Utilities Sector
	DUK	CWEN	LNT	MDU	VST	NEE	OTTR	BKH	WEC	MGEE	SWX
What You Pay
P/E	19.3	12.1	21.2	15.8	57.6	24.0	12.3	15.7	22.1	22.9	12.2
P/EBIT	10.4	15.6	14.5	16.1	30.1	20.7	9.3	8.4	13.6	16.4	9.3
What You Get
Rev Chg Q	4.8%	-11.7%	11.9%	1.9%	-20.9%	5.3%	-3.7%	7.1%	13.4%	4.3%	-11.8%
Rev Chg LTM	4.8%	0.8%	7.8%	143.2%	5.7%	0.2%	-3.2%	7.0%	7.9%	8.3%	31.9%
Rev Chg 3Y Avg	5.2%	3.5%	1.7%	6.6%	9.5%	11.4%	-4.4%	-0.1%	1.4%	2.0%	10.8%
FCF/Rev 3Y Avg	-7.1%	33.2%	23.8%	16.9%	14.4%	9.3%	8.6%	3.6%	1.8%	-0.0%	-0.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.3%, alpha of -0.5%, and sharpe of 0.48

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Duke Energy Earnings Notes
2	How Low Can Duke Energy Stock Really Go?	Return
3	Duke Energy vs Newmont: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	Duke Energy vs National Fuel Gas: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	How Does Duke Energy Stock Stack Up Against Its Peers?	Peer Comparison
6	Better Bet Than DUK Stock: Pay Less Than Duke Energy To Get More From FI, EXC
7	Better Bet Than DUK Stock: Pay Less Than Duke Energy To Get More From BIPC, EXC
8	Better Bet Than DUK Stock: Pay Less Than Duke Energy To Get More From EXC
9	Better Bet Than DUK Stock: Pay Less Than Duke Energy To Get More From EXC	Actionable
10	DUK Dip Buy Analysis
11	ARTICLES
12	How Will Duke Energy Stock React To Its Upcoming Earnings?		November 6th, 2025
13	S&P 500 Stocks Trading At 52-Week High		October 8th, 2025
14	Large Cap Stocks Trading At 52-Week High		October 7th, 2025
15	Better Bet Than Duke Energy Stock: Pay Less To Get More From EXC		August 9th, 2025
16	Better Bet Than NextEra Energy Stock: Pay Less To Get More From Industry Peers		July 16th, 2025

	Title
0	DASHBOARDS
1	Duke Energy Earnings Notes
2	How Low Can Duke Energy Stock Really Go?
3	Duke Energy vs Newmont: Which Is A Better Investment?
4	Duke Energy vs National Fuel Gas: Which Is A Better Investment?
5	How Does Duke Energy Stock Stack Up Against Its Peers?
6	Better Bet Than DUK Stock: Pay Less Than Duke Energy To Get More From FI, EXC
7	Better Bet Than DUK Stock: Pay Less Than Duke Energy To Get More From BIPC, EXC
8	Better Bet Than DUK Stock: Pay Less Than Duke Energy To Get More From EXC
9	Better Bet Than DUK Stock: Pay Less Than Duke Energy To Get More From EXC
10	DUK Dip Buy Analysis
11	ARTICLES
12	How Will Duke Energy Stock React To Its Upcoming Earnings?
13	S&P 500 Stocks Trading At 52-Week High
14	Large Cap Stocks Trading At 52-Week High
15	Better Bet Than Duke Energy Stock: Pay Less To Get More From EXC
16	Better Bet Than NextEra Energy Stock: Pay Less To Get More From Industry Peers

Trade Ideas

Select past ideas related to DUK. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PEG_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	PEG	Public Service Enterprise	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.4%	2.4%	0.0%
PCG_9262025_Dip_Buyer_ValueBuy	09262025	PCG	PG&E	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.1%	7.1%	0.0%
AES_9052025_Dip_Buyer_ValueBuy	09052025	AES	AES	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	8.9%	8.9%	-3.2%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PEG_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	PEG	Public Service Enterprise	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.4%	2.4%	0.0%
PCG_9262025_Dip_Buyer_ValueBuy	09262025	PCG	PG&E	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.1%	7.1%	0.0%
AES_9052025_Dip_Buyer_ValueBuy	09052025	AES	AES	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	8.9%	8.9%	-3.2%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TLRY	Tilray Brands	8.3	659.6%	488.3%
HPP	Hudson Pacific Properties	6.3	607.1%	357.4%
LEG	Leggett & Platt	1.7	17.8%	26.5%
TE	T1 Energy	0.7	16.4%
AG	First Majestic Silver	7.6	14.9%	183.5%
ITRG	Integra Resources	0.6	14.3%	332.2%
GTN-A	Gray Media	0.9	14.1%	27.1%
APLD	Applied Digital	7.2	13.1%	269.2%
BHC	Bausch Health Companies	2.6	12.8%	-12.5%
TMQ	Trilogy Metals	0.7	12.3%	284.5%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
EXOD	Exodus Movement	0.4	-16.8%	-51.8%
CTEV	Claritev	0.8	-14.7%
CMCL	Caledonia Mining	0.5	-13.8%	188.9%
FULC	Fulcrum Therapeutics	0.6	-12.8%	110.0%
UP	Wheels Up Experience	0.5	-12.7%	-58.6%
SION	Sionna Therapeutics	1.7	-11.0%
GRAL	GRAIL	3.5	-10.8%	450.5%
WOOF	Petco Health and Wellness	0.8	-10.6%	-20.2%
PSNL	Personalis	0.9	-9.7%	67.5%
IRWD	Ironwood Pharmaceuticals	0.6	-9.3%	-21.0%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	8.3	770.2%	488.3%
HPP	Hudson Pacific Properties	6.3	729.9%	357.4%
TE	T1 Energy	0.7	64.3%
KSS	Kohl's	2.7	60.9%	78.1%
SYM	Symbotic	9.3	55.9%	259.8%
INSP	Inspire Medical Systems	3.7	51.7%	-31.8%
ANF	Abercrombie & Fitch	4.8	50.3%	-31.8%
ARWR	Arrowhead Pharmaceuticals	7.8	47.7%	199.2%
CLSK	Cleanspark	4.0	44.0%	52.9%
AG	First Majestic Silver	7.6	40.8%	183.5%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ACLX	Arcellx	4.0	-21.5%	-8.4%
UP	Wheels Up Experience	0.5	-20.7%	-58.6%
PD	PagerDuty	1.1	-19.6%	-35.3%
NTNX	Nutanix	12.7	-19.5%	-22.9%
KOS	Kosmos Energy	0.5	-15.3%	-67.5%
AMBA	Ambarella	3.0	-14.9%	-2.5%
ANGX	Angel Studios	0.7	-14.9%
IMSR	Terrestrial Energy	0.8	-14.3%
BURL	Burlington Stores	15.3	-14.1%	-15.0%
ESTC	Elastic	7.5	-13.4%	-28.2%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	489.8%	357.4%
TLRY	Tilray Brands	8.3	475.3%	488.3%
TERN	Terns Pharmaceuticals	2.5	243.3%	396.9%
OLMA	Olema Pharmaceuticals	2.4	223.5%	379.4%
COGT	Cogent Biosciences	5.5	148.5%	409.7%
RHLD	Resolute Management	1.5	145.4%
IRWD	Ironwood Pharmaceuticals	0.6	131.8%	-21.0%
FRGE	Forge Global	0.6	123.8%	216.5%
CDTX	Cidara Therapeutics	5.9	109.9%	717.4%
SGML	Sigma Lithium	1.3	100.9%	2.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
QURE	uniQure	1.5	-62.4%	50.5%
SMR	NuScale Power	2.7	-58.1%	0.8%
CCOI	Cogent Communications	0.9	-54.7%	-73.0%
UP	Wheels Up Experience	0.5	-53.2%	-58.6%
AMSC	American Superconductor	1.3	-52.5%	21.6%
FMC	FMC	1.7	-52.3%	-70.2%
DD	DuPont de Nemours	16.7	-51.4%	-46.8%
BHVN	Biohaven	1.0	-48.5%	-75.0%
METC	Ramaco Resources	0.9	-48.4%	47.9%
CRWV	CoreWeave	37.5	-44.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TLRY	Tilray Brands	8.3	659.6%	488.3%
HPP	Hudson Pacific Properties	6.3	607.1%	357.4%
LEG	Leggett & Platt	1.7	17.8%	26.5%
TE	T1 Energy	0.7	16.4%
AG	First Majestic Silver	7.6	14.9%	183.5%
ITRG	Integra Resources	0.6	14.3%	332.2%
GTN-A	Gray Media	0.9	14.1%	27.1%
APLD	Applied Digital	7.2	13.1%	269.2%
BHC	Bausch Health Companies	2.6	12.8%	-12.5%
TMQ	Trilogy Metals	0.7	12.3%	284.5%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
EXOD	Exodus Movement	0.4	-16.8%	-51.8%
CTEV	Claritev	0.8	-14.7%
CMCL	Caledonia Mining	0.5	-13.8%	188.9%
FULC	Fulcrum Therapeutics	0.6	-12.8%	110.0%
UP	Wheels Up Experience	0.5	-12.7%	-58.6%
SION	Sionna Therapeutics	1.7	-11.0%
GRAL	GRAIL	3.5	-10.8%	450.5%
WOOF	Petco Health and Wellness	0.8	-10.6%	-20.2%
PSNL	Personalis	0.9	-9.7%	67.5%
IRWD	Ironwood Pharmaceuticals	0.6	-9.3%	-21.0%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	8.3	770.2%	488.3%
HPP	Hudson Pacific Properties	6.3	729.9%	357.4%
TE	T1 Energy	0.7	64.3%
KSS	Kohl's	2.7	60.9%	78.1%
SYM	Symbotic	9.3	55.9%	259.8%
INSP	Inspire Medical Systems	3.7	51.7%	-31.8%
ANF	Abercrombie & Fitch	4.8	50.3%	-31.8%
ARWR	Arrowhead Pharmaceuticals	7.8	47.7%	199.2%
CLSK	Cleanspark	4.0	44.0%	52.9%
AG	First Majestic Silver	7.6	40.8%	183.5%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ACLX	Arcellx	4.0	-21.5%	-8.4%
UP	Wheels Up Experience	0.5	-20.7%	-58.6%
PD	PagerDuty	1.1	-19.6%	-35.3%
NTNX	Nutanix	12.7	-19.5%	-22.9%
KOS	Kosmos Energy	0.5	-15.3%	-67.5%
AMBA	Ambarella	3.0	-14.9%	-2.5%
ANGX	Angel Studios	0.7	-14.9%
IMSR	Terrestrial Energy	0.8	-14.3%
BURL	Burlington Stores	15.3	-14.1%	-15.0%
ESTC	Elastic	7.5	-13.4%	-28.2%

Peer Comparisons for Duke Energy

Peers to compare with:

Financials

	DUK	NEE	CEG	AEP	EXC	EIX	Median
Name	Duke Ene.	NextEra .	Constell.	American.	Exelon	Edison I.
Mkt Price	120.75	84.65	359.05	120.51	45.69	58.13	102.58
Mkt Cap	93.9	174.8	112.4	64.5	46.2	22.4	79.2
Rev LTM	31,659	26,298	24,841	21,257	24,317	18,088	24,579
Op Inc LTM	8,583	7,404	3,017	5,300	5,060	5,227	5,264
FCF LTM	-921	3,073	-276	-1,736	-1,595	-722	-822
FCF 3Y Avg	-2,122	2,421	-4,768	-1,932	-2,186	-1,201	-2,027
CFO LTM	12,049	11,967	2,416	6,858	6,436	5,398	6,647
CFO 3Y Avg	10,539	11,847	-2,252	5,834	5,337	4,582	5,586

Growth & Margins

	DUK	NEE	CEG	AEP	EXC	EIX	Median
Name	Duke Ene.	NextEra .	Constell.	American.	Exelon	Edison I.
Rev Chg LTM	4.8%	0.2%	3.6%	8.4%	6.1%	4.4%	4.6%
Rev Chg 3Y Avg	5.2%	11.4%	3.7%	4.2%	8.9%	3.1%	4.7%
Rev Chg Q	4.8%	5.3%	0.3%	10.9%	9.0%	10.6%	7.1%
QoQ Delta Rev Chg LTM	1.2%	1.5%	0.1%	2.9%	2.3%	3.1%	1.9%
Op Mgn LTM	27.1%	28.2%	12.1%	24.9%	20.8%	28.9%	26.0%
Op Mgn 3Y Avg	25.1%	31.5%	11.1%	21.6%	19.0%	20.5%	21.0%
QoQ Delta Op Mgn LTM	0.3%	-1.4%	-1.7%	0.1%	0.8%	2.1%	0.2%
CFO/Rev LTM	38.1%	45.5%	9.7%	32.3%	26.5%	29.8%	31.1%
CFO/Rev 3Y Avg	34.6%	44.6%	-8.9%	29.0%	23.3%	26.3%	27.6%
FCF/Rev LTM	-2.9%	11.7%	-1.1%	-8.2%	-6.6%	-4.0%	-3.5%
FCF/Rev 3Y Avg	-7.1%	9.3%	-19.0%	-9.7%	-9.9%	-7.0%	-8.4%

Valuation

	DUK	NEE	CEG	AEP	EXC	EIX	Median
Name	Duke Ene.	NextEra .	Constell.	American.	Exelon	Edison I.
Mkt Cap	93.9	174.8	112.4	64.5	46.2	22.4	79.2
P/S	3.0	5.9	4.1	2.8	1.9	1.2	2.9
P/EBIT	10.4	20.7	24.7	10.6	8.6	3.8	10.5
P/E	19.3	24.0	37.6	16.4	16.1	6.7	17.9
P/CFO	8.0	13.0	42.6	8.8	7.1	3.9	8.4
Total Yield	6.0%	7.1%	3.1%	9.4%	9.7%	20.9%	8.3%
Dividend Yield	0.8%	2.9%	0.5%	3.3%	3.5%	5.9%	3.1%
FCF Yield 3Y Avg	-2.9%	1.3%	-9.5%	-4.3%	-5.5%	-4.7%	-4.5%
D/E	0.9	0.6	0.1	0.8	1.1	1.9	0.9
Net D/E	0.9	0.6	0.0	0.8	1.1	1.8	0.8

Returns

	DUK	NEE	CEG	AEP	EXC	EIX	Median
Name	Duke Ene.	NextEra .	Constell.	American.	Exelon	Edison I.
1M Rtn	-2.0%	4.7%	-4.7%	1.0%	-0.1%	5.0%	0.5%
3M Rtn	-0.6%	18.3%	16.7%	9.4%	5.5%	5.2%	7.5%
6M Rtn	4.8%	22.4%	14.8%	18.7%	6.2%	8.2%	11.5%
12M Rtn	6.9%	11.0%	40.7%	24.9%	19.7%	-29.9%	15.3%
3Y Rtn	36.6%	8.4%	299.8%	42.0%	23.3%	2.6%	30.0%
1M Excs Rtn	-0.9%	5.4%	-9.3%	0.6%	-1.2%	6.1%	-0.1%
3M Excs Rtn	-6.0%	12.8%	11.3%	3.9%	0.1%	-0.3%	2.0%
6M Excs Rtn	-10.9%	7.3%	2.3%	3.1%	-9.1%	-7.5%	-2.6%
12M Excs Rtn	-5.0%	0.1%	31.3%	13.3%	7.2%	-43.5%	3.7%
3Y Excs Rtn	-31.0%	-59.8%	212.1%	-26.0%	-40.6%	-62.7%	-35.8%

Comparison Analyses

	Title
0	How Does Duke Energy Stock Stack Up Against Its Peers?
1	Duke Energy vs. Automatic Data Processing: Similar Market Cap, But Duke Energy Is A Better Bet
2	Duke Energy vs. TJX: Similar Market Cap, But TJX Is A Better Bet
3	Duke Energy vs. Sherwin-Williams: Similar Market Cap, But Duke Energy Is A Better Bet
4	Duke Energy vs. Mondelez International: Similar Market Cap, Similar Bets
5	Duke Energy vs. Tesla: Similar Income, But Tesla Is A Better Bet
6	Duke Energy vs. salesforce.com Inc: Similar Revenue, But salesforce.com Inc Is A Better Bet
7	Duke Energy vs. Eli Lilly and Company: Similar Revenue, But Duke Energy Is A Better Bet
8	Duke Energy vs. Visa: Similar Revenue, But Visa Is A Better Bet
9	Duke Energy vs. PayPal Holdings: Similar Income, But PayPal Holdings Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/7/2025	2/27/2025	2/23/2024	2/27/2023	2/24/2022	2/25/2021	2/20/2020
Key Financials
Total Revenue	31,659	30,357	29,060	28,768	24,621	23,366	25,079
EBITDA	16,622	14,997	13,865	12,360	11,861	8,503	11,477
Operating Income	8,583	7,938	7,103	6,424	5,841	5,538	5,705
Net Income	4,989	4,524	2,841	2,550	3,908	1,377	3,748
EPS	6.36	5.71	3.54	3.17	4.94	1.72	5.06
Growth Rates
Total Revenue Growth	4.8%	4.5%	1.0%	16.8%	5.4%	-6.8%	2.3%
EBITDA Growth	12.6%	8.2%	12.2%	4.2%	39.5%	-25.9%	16.4%
Operating Income Growth	12.0%	11.8%	10.6%	10.0%	5.5%	-2.9%	10.2%
Net Income Growth	15.4%	59.2%	11.4%	-34.7%	183.8%	-63.3%	40.6%
Margins
EBITDA Margin	52.5%	49.4%	47.7%	43.0%	48.2%	36.4%	45.8%
Operating Income Margin	27.1%	26.1%	24.4%	22.3%	23.7%	23.7%	22.7%
Net Income Margin	15.8%	14.9%	9.8%	8.9%	15.9%	5.9%	14.9%
Cash & Debt
Total Cash	688	314	253	409	341	259	311
Total Debt	89,647	85,230	80,457	74,579	68,263	64,076	62,693
Net Debt / (Cash)	88,959	84,916	80,204	74,170	67,922	63,817	62,382
Cash Flows
Net Cash from Operations	12,049	12,328	9,878	5,927	8,290	8,856	8,209
Free Cash from Operations	-921	48	-2,726	-5,440	-1,425	-1,051	-2,913
Returns to Shareholders
Dividends	3,257	3,213	3,244	3,179	3,114	2,812	2,668
Share Repurchases	-0	1,000	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/7/2025	8/5/2025	5/6/2025	2/27/2025	11/7/2024	8/6/2024	5/7/2024	2/23/2024	11/2/2023	8/8/2023	5/9/2023	2/27/2023
Key Financials Quarterly
Total Revenue	8,542	7,508	8,249	7,360	8,154	7,172	7,671	7,212	7,994	6,578	7,276	7,351
Ebitda	4,617	3,992	4,177	3,836	4,017	3,461	3,683	3,596	3,911	3,169	3,189	2,746
Operating Income	2,317	1,819	2,337	2,110	2,132	1,744	1,951	1,838	2,191	1,399	1,675	1,421
Net Income	1,421	984	1,379	1,205	1,281	900	1,138	1,005	1,252	-220	804	-636
EPS	1.81	1.25	1.76	1.54	1.60	1.13	1.44	1.27	1.59	-0.32	1.01	-0.86
Key Financials TTM
Total Revenue TTM	31,659	31,271	30,935	30,357	30,209	30,049	29,455	29,060	29,199	29,047	29,033	28,768
Ebitda TTM	16,622	16,022	15,491	14,997	14,757	14,651	14,359	13,865	13,015	12,766	12,640	12,360
Operating Income TTM	8,583	8,398	8,323	7,937	7,665	7,724	7,379	7,103	6,686	6,541	6,573	6,424
Net Income TTM	4,989	4,849	4,765	4,524	4,324	4,295	3,175	2,841	1,200	1,370	2,497	2,550
Growth Rates Quarterly
Total Revenue Growth	4.8%	4.7%	7.5%	2.1%	2.0%	9.0%	5.4%	-1.9%	1.9%	0.2%	3.8%	27.6%
EBITDA Growth	14.9%	15.3%	13.4%	6.7%	2.7%	9.2%	15.5%	31.0%	6.8%	4.1%	9.6%	-4.0%
Operating Income Growth	8.7%	4.3%	19.8%	14.8%	-2.7%	24.7%	16.5%	29.3%	7.1%	-2.2%	9.8%	18.0%
Net Income Growth	10.9%	9.3%	21.2%	19.9%	2.3%	509.1%	41.5%	258.0%	-12.0%	-124.3%	-6.2%	-185.3%
Margins Quarterly
EBITDA Margin	54.1%	53.2%	50.6%	52.1%	49.3%	48.3%	48.0%	49.9%	48.9%	48.2%	43.8%	37.4%
Operating Income Margin	27.1%	24.2%	28.3%	28.7%	26.1%	24.3%	25.4%	25.5%	27.4%	21.3%	23.0%	19.3%
Net Income Margin	16.6%	13.1%	16.7%	16.4%	15.7%	12.5%	14.8%	13.9%	15.7%	-3.3%	11.1%	-8.7%
Cash & Debt
Total Cash	688	344	475	314	376	390	459	253	324	377	451	409
Total Debt	89,647	88,453	87,481	85,230	85,024	83,374	82,323	80,457	79,438	78,819	77,019	74,579
Net Debt / (Cash)	88,959	88,109	87,006	84,916	84,648	82,984	81,864	80,204	79,114	78,442	76,568	74,170
Cash Flows Quarterly
FCF from Operations	3,632	2,863	2,177	3,377	3,524	2,953	2,474	2,569	3,524	2,302	1,483	739
Cash Flows TTM
FCF from Operations TTM	12,049	11,941	12,031	12,328	11,520	11,520	10,869	9,878	8,048	5,677	5,615	5,927
Returns to Shareholders Quarterly
Dividends	845	807	803	802	821	784	806	806	832	791	815	790
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	6.1%	4.8%	6.1%	5.9%	5.8%	4.7%	5.2%	5.2%	6.8%	3.9%	4.7%	4.7%
Return on Invested Capital (ROIC) TTM
ROIC TTM	5.7%	5.6%	5.5%	5.3%	5.2%	5.4%	5.2%	5.1%	4.9%	4.7%	4.8%	4.9%

Price Behavior

Price Behavior

Market Price	$120.75
Market Cap ($ Bil)	93.9
First Trading Date	04/06/1983
Distance from 52W High	-5.6%
	50 Days	200 Days
DMA Price	$123.59	$118.38
DMA Trend	up	up
Distance from DMA	-2.3%	2.0%
	3M	1YR
Volatility	13.7%	17.0%
Downside Capture	-33.30	-15.26
Upside Capture	-27.38	-6.60
Correlation (SPY)	-23.1%	-2.3%

DUK Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	-0.17	-0.31	-0.24	-0.16	-0.02	0.11
Up Beta	-0.13	0.11	-0.02	-0.03	0.00	0.09
Down Beta	0.09	-0.22	-0.35	-0.37	0.07	0.09
Up Capture	-25%	-35%	-15%	0%	-3%	4%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	21	32	67	130	393
Down Capture	-19%	-55%	-37%	-29%	-24%	19%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	20	30	58	118	357

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of DUK With Other Asset Classes (Last 1Y)
	DUK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	9.0%	11.1%	15.2%	55.7%	2.5%	-3.3%	-7.8%
Annualized Volatility	17.0%	16.2%	19.7%	19.7%	16.0%	17.8%	35.5%
Sharpe Ratio	0.34	0.47	0.60	2.14	-0.03	-0.34	-0.06
Correlation With Other Assets		63.6%	-2.1%	15.3%	-14.2%	40.9%	-9.4%

ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of DUK With Other Asset Classes (Last 5Y)
	DUK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	9.9%	10.0%	15.2%	17.3%	12.5%	5.0%	38.4%
Annualized Volatility	18.0%	17.2%	17.1%	15.6%	18.9%	19.0%	49.1%
Sharpe Ratio	0.43	0.45	0.72	0.90	0.55	0.18	0.65
Correlation With Other Assets		82.9%	23.2%	17.7%	2.3%	52.3%	5.2%

Based On 10-Year Data

		Comparison of DUK With Other Asset Classes (Last 10Y)
	DUK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	10.3%	10.9%	14.4%	14.2%	5.9%	5.5%	75.5%
Annualized Volatility	20.4%	19.2%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.45	0.50	0.69	0.79	0.26	0.23	0.94
Correlation With Other Assets		89.1%	41.8%	16.0%	9.2%	63.8%	6.9%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	15,716,609
Short Interest: % Change Since 10312025	15.5%
Average Daily Volume	3,842,952
Days-to-Cover Short Interest	4.09
Basic Shares Quantity	778,000,000
Short % of Basic Shares	2.0%

Returns Analyses

	Title
0	How Low Can Duke Energy Stock Really Go?
1	DUK YTD Stock Return Of 9.2% Outperforms EIX by 46% and Underperforms CEG by -25%
2	Duke Energy Stock Return Comparison
3	[10/2/2021] Duke Energy (DUK) Stock Price Forecast: AI Forecasts DUK Stock Price To Be Around $98.6 In A Month (Up 0.2%)
4	Duke Energy Total Shareholder Return (TSR): 1.9% in 2022 and 8.1% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/7/2025	-0.6%	0.1%
8/5/2025	-0.1%	1.1%	-1.3%
5/6/2025	-0.3%	-8.0%	-5.0%
2/13/2025	-1.2%	2.3%	7.0%
11/7/2024	1.9%	-0.4%	1.7%
8/6/2024	0.5%	0.7%	4.4%
5/7/2024	0.1%	0.0%	1.6%
2/8/2024	-1.0%	0.8%	4.6%
...
SUMMARY STATS
# Positive	13	14	13
# Negative	11	10	11
Median Positive	0.7%	1.4%	4.4%
Median Negative	-0.6%	-1.5%	-2.2%
Max Positive	3.2%	4.6%	8.5%
Max Negative	-2.5%	-8.0%	-11.6%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11072025	10-Q 9/30/2025
6302025	8052025	10-Q 6/30/2025
3312025	5062025	10-Q 3/31/2025
12312024	2272025	10-K 12/31/2024
9302024	11072024	10-Q 9/30/2024
6302024	8062024	10-Q 6/30/2024
3312024	5072024	10-Q 3/31/2024
12312023	2232024	10-K 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8082023	10-Q 6/30/2023
3312023	5092023	10-Q 3/31/2023
12312022	2272023	10-K 12/31/2022
9302022	11042022	10-Q 9/30/2022
6302022	8042022	10-Q 6/30/2022
3312022	5092022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Glenn Robert Alexander	EVP & Chief Legal Officer	11202025	Sell	123.80	8,200	1,015,160	1,407,235	Form
1	Renjel Louis E.	EVP&CEO DEF&MW&ChiefCorpAffOff	11192025	Sell	125.65	800	100,520	2,554,716	Form

Industry Resources

Utilities Resources

Data.gov Energy Infrastructure

Daga.gov Energy Resources

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Duke Energy (DUK)

Market Price (12/2/2025): $120.715 | Market Cap: $93.9 BilSector: Utilities | Industry: Electric Utilities

Duke Energy (DUK)

Market Price (12/2/2025): $120.715Market Cap: $93.9 BilSector: UtilitiesIndustry: Electric Utilities

Valuation, Metrics & Events

DUK Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Duke Energy (DUK)

Interactive Breakdown

Better Bets than Duke Energy (DUK)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Duke Energy

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (12/2/2025): $120.715 | Market Cap: $93.9 Bil
Sector: Utilities | Industry: Electric Utilities

Market Price (12/2/2025): $120.715
Market Cap: $93.9 Bil
Sector: Utilities
Industry: Electric Utilities