CONSTELLATION ENERGY CORPORATION vs NEXTERA ENERGY INC, two Utilities stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Constellation carries 0.65 of debt for every dollar of equity, which is unusually conservative for a utility, where NextEra's 1.49 is closer to the norm for a business built on capital-heavy renewables and a regulated Florida utility. That lighter structure comes with a 1.36 current ratio against NextEra's 0.54, so Constellation has more cover for near-term obligations. The market still pays up for it, near 24 times earnings to NextEra's 22, even though NextEra keeps far more of each sales dollar, a 29% net margin against Constellation's 13%. NextEra also turns more of its price into free cash, a near 7% yield to Constellation's 1.3%, and pays a 2.6% dividend where Constellation pays almost nothing. The footing is sturdier at Constellation; the earnings power and the cash return sit with NextEra.
Comparison updated 2026-06-15.
| Metric | CEG | NEE |
|---|---|---|
| Price | $251.34 | $87.96 |
| Market cap | $89.0B | $184.0B |
| Sector | Utilities | Utilities |
| Stage | Growth | Mature |
| Implied growth (priced in) | +22.9% | +12.4% |
| P/E | 21.8 | 22.3 |
| P/B | 2.63 | 2.76 |
| P/S | 2.98 | 6.60 |
| EV/EBITDA | 20.4 | 29.3 |
| Revenue growth | +22.1% | +10.9% |
| Operating margin | 21.0% | 33.0% |
| Net margin | 12.7% | 29.4% |
| Return on equity | 11.2% | 12.3% |
| Return on assets | 3.9% | 3.7% |
| Return on invested capital | 7.0% | 3.9% |
| FCF yield | 1.3% | 6.7% |
| Dividend yield | 0.1% | 2.6% |
| Debt / equity | 0.65 | 1.49 |
| Current ratio | 1.36 | 0.54 |
| Altman Z (solvency) | 1.40 | 1.04 |
| Piotroski F (quality) | 5 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.