CEG · Constellation Energy Corp
$255.69
+0.48 (+0.19%)
At close · Oct 23
Return incl. dividend (before tax)
Market Cap
$90.42B
Shares
354.31M
Volume · Oct 22
3.98M
Avg daily vol (3M)
3.22M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$255.21
Open$268.82
Day$253.37–269.02
52W close$236.50–401.43
Avg vol 30d3.9M
Short int11.8M · 3.3% float · 3.9d
Short vol50%
Last earningsNov 9, 2026
DataJan 2022–Oct 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 9, 2026
Scheduled
· in 2 wks
filed Aug 6, 2026
call held Aug 6, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$31.27B
Trailing 12 months
Net income (TTM)
$3.45B
Trailing 12 months
Revenue growth YoY
+23.0%
Year over year
Operating margin
14.7%
Trailing 12 months
P / E (TTM)
24.9
Trailing earnings · reciprocal yield 4.0%
FCF yield
0.3%
TTM · current market cap
Return on invested capital
6.2%
Trailing 12 months
Net cash
−$18.41B
Latest balance sheet
Dividend yield
0.7%
Trailing 12 months
Shares change YoY
+14.6%
Year over year · more shares
Price change (1Y)
-27.1%
Trailing year
Short interest
3.3%
Latest settlement · 3.9 days to cover
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 6, 2026
Q2 FY26
TL;DR. Constellation reported Q2 GAAP EPS of $1.42 and adjusted operating EPS of $2.55 (up from $1.91 a year ago), raised full-year adjusted EPS guidance to $11.50–$12.50 from $11.00–$12.00, signed 920 MW of new long-term nuclear PPAs, and completed the final Calpine-related divestiture (Brazos Valley) for $860M; quarter was partially offset by higher planned nuclear outage days and lower Illinois ZEC revenue timing.
Bullish
- + Signed an additional 920 MW of long-term (15–20 year) nuclear PPAs with investment-grade customers, bringing contracted share of clean baseload to ~30%.
- + Year-to-date deployed ~$2.2B toward accretive share repurchases, with $2.8B remaining authorization; CFO raised 2029 capital-allocation sensitivity floor to $0.20 and upside to >$0.75 per share.
- + Updated nuclear PTC strike price assumptions raise projected 2030 base EPS by ~$0.30 per share; PTC inflation linkage continues to support double-digit base earnings growth into the 2030s.
Bearish
- − Illinois ZEC revenue recognized this quarter was only $85M of banked credits versus $200M last year (timing only, no full-year impact per the company); the Illinois ZEC program ends in May 2027.
- − ERCOT power prices and spark spreads remained weak in Q2, which the company describes as a 'soft ERCOT market' and the basis for management's expectation of weak price action in Texas this year.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Strong Sell
Momentum
Very Weak
Sentiment
Neutral
Fundamentals
Strong
Quant / Vol
Very High
Market backdrop
VIX 19 · elevated
Equity put/call 0.69
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−10%
below
Price vs 50-day avg
−7%
below
RSI (14)
41
neutral
MACD trend
Negative
52-week position
11%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−2%
trailing
6-month return
−17%
trailing
YTD return
−28%
this year
Relative strength
−23%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $275 › 200d $282 — 200d above 50d
Institutional flow
Distributing
491 of 1,882 funds reported for Sep 30 · net -109.3K sh shares · +42 new
Insider flow
Accumulating
Net +$417.9K over 90 days · 0% sells
Short interest
Rising
3.34% of float · ▲ +0.8% MoM · 3.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
1,882 holders — mid 3-yr range
Squeeze score
58
elevated · 0–100
Fundamentals
Revenue growth
+8%
Y/Y
EPS growth
−38%
Y/Y
Free cash flow
$1.3B
Buyback
$2.8B
remaining
Balance sheet
$3.6B
net debt
Quant / Vol
risk profile
Volatility
49%
annualized · 1-yr
Max drawdown
−41%
past year
ATR
5.3%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Aug 6, 2026
Adjusted operating earnings
· full year
Non-GAAP
Raised
$11.50 – $12.50
May 11, 2026
$11.00 – $12.00
changed to
Aug 6, 2026
$11.50 – $12.50
Prior guidance
period ended
· from the 8-K filed Nov 7, 2025
Standalone Adjusted Operating Earnings*
· Full-Year 2025
$9.05 – $9.45
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−10%
Bearish
Price vs 50-day avg
−7%
Bearish
RSI (14)
41
Neutral
MACD trend
Negative
Bearish
52-week position
11%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross)
No cross
50d $275 › 200d $282 — 200d above 50d
Institutional flow
Distributing
491 of 1,882 funds reported for Sep 30 · net -109.3K sh shares · +42 new
Insider flow
Accumulating
Net +$417.9K over 90 days · 0% sells
Short interest
Rising
3.34% of float · ▲ +0.8% MoM · 3.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
1,882 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $237
Now $255 · 11%
Range high $401
vs 200-day avg -10%
vs 50-day avg -7%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted (non-GAAP) Operating Earnings non-GAAP | $920M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP GAAP Net Income (Loss) Attributable to Common Shareholders $513M
+$340M Unrealized (Gain) Loss on Fair Value Adjustments (net of taxes of $116 and $37, respectively)
-$221M Decommissioning-Related Activities (net of taxes of $298 and $208, respectively)
+$149M Amortization of Acquired Commodity Contracts (net of taxes of $51 and $—, respectively)
+$84M Calpine Merger and Integration Costs (net of taxes of $17 and $3, respectively)
+$0M Plant Retirements and Divestitures (net of taxes of $— and $2, respectively)
+$20M Pension & OPEB Non-Service (Credits) Costs (net of taxes of $7 and $3, respectively)
+$35M Change in Legal and Environmental Liabilities (net of taxes of $12 and $—, respectively)
= Adjusted (non-GAAP) Operating Earnings $920M
|
|||
| Adjusted (non-GAAP) Operating Earnings per share non-GAAP | $2.55 | Three Months Ended June 30, 2026 | — |
| Average capacity prices ($/MW Day) - ISO-NE - Rest of Pool | $84.99 | Three Months Ended June 30 filing | — |
| Average capacity prices ($/MW Day) - NYISO - Rest of State | $195.67 | Three Months Ended June 30 filing | — |
| Average capacity prices ($/MW Day) - PJM - ComEd | $289.67 | Three Months Ended June 30 filing | — |
| Average capacity prices ($/MW Day) - PJM - Eastern Mid-Atlantic Area Council | $289.67 | Three Months Ended June 30 filing | — |
| Average CMC prices per MWh | -$5.91 | Three Months Ended June 30 filing | — |
| Average contract duration | 18.5 | Q2 2026 | — |
| Average daily reference price ($/MMBtu) - Algonquin Citygate | $2.37 | Three Months Ended June 30 filing | — |
| Average daily reference price ($/MMBtu) - Henry Hub | $2.93 | Three Months Ended June 30 filing | — |
| Average daily reference price ($/MMBtu) - Houston Ship Channel | $2.45 | Three Months Ended June 30 filing | — |
| Average daily reference price ($/MMBtu) - PG&E Citygate | $1.55 | Three Months Ended June 30 filing | — |
| Average daily reference price ($/MMBtu) - Transco Zone 6 | $2.13 | Three Months Ended June 30 filing | — |
| Average diluted common shares outstanding | 360M | Q2 2026 | — |
| Average ZEC reference prices ($/MWh) - Illinois (Midwest) | $1.12 | Three Months Ended June 30 filing | — |
| Average ZEC reference prices ($/MWh) - New York (New York) | $14.76 | Three Months Ended June 30 filing | — |
| Brazos Valley Energy Center sale price | $860M | Q2 2026 | — |
| Cumulative share repurchases since separation | $4.6B | since separation | — |
| Cumulative shares repurchased since separation | 25.5M | since separation | — |
| Equivalent Forced Outage Factor (EFOF) | 6.2% | second quarter of 2026 | — |
| Equivalent Forced Outage Factor (EFOF) - natural gas, oil, and pumped-storage hydro fleet | 6.2% | second quarter of 2026 | — |
| Long-term nuclear PPAs signed | 920 | Q2 2026 | — |
| Non-refueling outage days | 20 | second quarter of 2026 | — |
| Nuclear fleet generation | 44,160 | second quarter of 2026 | — |
| Nuclear plants capacity factor (excluding Salem and STP) | 93% | second quarter of 2026 | — |
| Planned refueling outage days | 86 | second quarter of 2026 | — |
| Q2 average nuclear refueling outage duration | 23 | Q2 2026 | — |
| Refueling outage days | 86 | Three Months Ended June 30, 2026 filing | — |
| Renewable energy capture (wind, solar and run-of-river hydro) | 96% | second quarter of 2026 | — |
| Share repurchases deployed YTD | $2.2B | YTD 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Utilities - Independent Power Producers — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
CEG
this stock
Constellation Energy Corp
|
$90.42B | -27.8% | +8.3% | 24.9 | 3.3% |
|
VST
Vistra Corp.
|
$47.35B | -12.7% | +3.0% | 23.8 | 3.1% |
|
NRG
Nrg Energy, Inc.
|
$19.84B | -40.7% | +9.2% | 25.4 | 2.9% |
|
TLN
Talen Energy Corp
|
$16.08B | -11.6% | +22.0% | — | 5.2% |
|
OKLO
Oklo Inc.
|
$5.02B | -62.4% | — | — | 17.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| CEG | -7.2% | -2.5% | -17.1% | +0.5% | -27.8% |
| SPY | -1.0% | -0.4% | +6.0% | +0.2% | +12.0% |
| vs SPY | -6.2% | -2.0% | -23.1% | +0.3% | -39.8% |
Capital returns
Latest dividend
$0.427
/ share · ex Aug 18, 2026
Paid (TTM)
$1.669
/ share · 4 payouts
Dividend yield (TTM, derived)
0.65%
Buyback program
· as of Aug 6, 2026
Authorized
$3.00B
Spent (derived)
$200.00M
Remaining
$2.80B
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1868275
CUSIP
21037T109
13F (30d)
482 filings
468 filers
Visit website
Investor relations