20-quarter listed-company comparison

Utilities - Regulated Electric Stocks

Utilities - Regulated Electric: Duke Energy Corporation owns the largest revenue base; DTE Energy Company has the fastest current growth.

The industry itself · before any single company

How has Utilities - Regulated Electric moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 11% behind S&P 500. Earnings across its companies grew 6% on average over the last four reported quarters — close to flat.

BASING · +3 joined✓Moving with the index3 of 42 companies ahead of S&P 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more

RS — · 31/42 >200d (−4) · 3/42 lead (+3) · EPS 26/39↑

Utilities - Regulated Electric, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy NarrowHow much of the industry is participating, how recently, and whether the movers score well.

Together3 of 42 stocks moving

Fresh3 crossed in the last 4 weeks

Backed by scoresmovers score +15 vs the industry average

Down the cap ladder — bar is now, tick is four weeks ago

Large 1/9+1

Mid 1/15+1

Small 1/18+1

Participation is spreading downward — the mid and small companies added more this month than the large ones did.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 42 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Utilities - Regulated Electric outperforming S&P 500?

Utilities - Regulated Electric has underperformed S&P 500 by 4.4% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 2.9%. 13 of 29 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Edison International is the strongest against the sector itself at +16.4%.

-2.9%Sector vs S&P 500 · 13 weeks

-4.4%Sector vs S&P 500 · 52 weeks

13/29Stocks leading S&P 500

17/29Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Utilities - Regulated Electric has underperformed S&P 500 by 4.4% over 52 weeks and 2.9% over 13 weeks. 13 of 29 covered companies beat the S&P 500 on Mansfield relative strength, while 17 of 29 beat the sector itself. Duke Energy Corporation leads with revenue of $33,166 million, based on 27 of 29 comparable companies through Mar 2026.

Is the Utilities - Regulated Electric sector outperforming S&P 500?

Which Utilities - Regulated Electric company is largest by revenue?

Duke Energy Corporation leads with revenue of $33,166 million, based on 27 of 29 comparable companies through Mar 2026.

Which Utilities - Regulated Electric company is growing fastest?

DTE Energy Company has the fastest current revenue growth at 20.9%, across 27 of 29 comparable companies.

Which Utilities - Regulated Electric company has the strongest 4-Factor Sector Score?

Dominion Energy, Inc. ranks first at 68.6/100 with 82% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Utilities - Regulated Electric company reports the most CAPEX?

National Grid plc reports the largest latest CAPEX at $5,545 million, with 29 of 29 companies comparable.

Which Utilities - Regulated Electric company has the least gross debt?

IDACORP, Inc. has the lowest comparable gross debt at $4,009 million. NextEra Energy, Inc. has the highest at $104,403 million.

Which Utilities - Regulated Electric company has the lowest comparable PEG?

Edison International has the lowest comparable Guarded PEG at 0.26, among 27 of 29 companies that pass the metric’s comparability rules.

How much history does this Utilities - Regulated Electric comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

$1.3T

NextEra Energy, Inc.

Revenue growing

26/27

positive TTM year-on-year growth

Beating S&P 500

13/29

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Dominion Energy, Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 82% evidence confidence.

Edison International looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Edison International has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Dominion Energy, Inc. · D

68.6/100 · Favorable setup · 82% evidence

Exact sum: 21.7 + 12.1 + 15.3 + 19.5 = 68.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.7/35Growth & earnings

Revenue 17.1% · PAT 36.8% · OPM change -2.3 pp

83% evidence

12.1/25Capital efficiency

ROCE 1.4% · debt/equity 1.54×

80% evidence

15.3/20Valuation

P/E 18.3× · PEG 0.7

65% evidence

19.5/20Relative strength

RS sector 6.2% · RS bench 4.6% · 1Y 16.9%

100% evidence

2. Companhia Paranaense de Energia - COPEL · ELPC

64.0/100 · Mixed-positive evidence · 82% evidence

Exact sum: 18.6 + 17.4 + 14.9 + 13.1 = 64

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.6/35Growth & earnings

Revenue 18% · PAT 10.6% · OPM change -2.1 pp

83% evidence

17.4/25Capital efficiency

ROCE 2.9% · debt/equity 0.24×

80% evidence

14.9/20Valuation

P/E 20.3× · PEG 0.53

65% evidence

13.1/20Relative strength

RS sector 5.3% · RS bench 3.6% · 1Y 46%

100% evidence

3. Eversource Energy · ES

61.2/100 · Mixed-positive evidence · 82% evidence

Exact sum: 24.1 + 11.8 + 11.1 + 14.2 = 61.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

24.1/35Growth & earnings

Revenue 9.8% · PAT 100% · OPM change 1.4 pp

83% evidence

11.8/25Capital efficiency

ROCE 2% · debt/equity 1.82×

80% evidence

11.1/20Valuation

P/E 14.8× · PEG 1.72

65% evidence

14.2/20Relative strength

RS sector 2% · RS bench 0.4% · 1Y 15%

100% evidence

4. Public Service Enterprise Group Incorporated · PEG

60.4/100 · Mixed-positive evidence · 82% evidence

Exact sum: 26.5 + 14.4 + 15.2 + 4.3 = 60.4

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -8.5% and the one-year return is -11.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

26.5/35Growth & earnings

Revenue 19% · PAT 23.7% · OPM change 3.2 pp

83% evidence

14.4/25Capital efficiency

ROCE 2.1% · debt/equity 1.41×

80% evidence

15.2/20Valuation

P/E 17.9× · PEG 0.76

65% evidence

4.3/20Relative strength

RS sector -8.5% · RS bench -9.9% · 1Y -11.3%

100% evidence

5. Edison International · EIX

59.4/100 · Mixed-positive evidence · 82% evidence

Exact sum: 14.9 + 8 + 16.5 + 20 = 59.4

Decision use: Price leads the evidence: RS versus the benchmark is 14.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

14.9/35Growth & earnings

Revenue 13.1% · PAT 26.6% · OPM change -29.8 pp

83% evidence

8.0/25Capital efficiency

ROCE 1.3% · debt/equity 2.26×

80% evidence

16.5/20Valuation

P/E 7.9× · PEG 0.26

65% evidence

20.0/20Relative strength

RS sector 16.4% · RS bench 14.5% · 1Y 50.2%

100% evidence

6. Ameren Corporation · AEE

58.8/100 · Mixed-positive evidence · 82% evidence

Exact sum: 25.2 + 11.6 + 13.9 + 8.1 = 58.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

25.2/35Growth & earnings

Revenue 12.3% · PAT 25.8% · OPM change 3.9 pp

83% evidence

11.6/25Capital efficiency

ROCE 1.2% · debt/equity 1.56×

80% evidence

13.9/20Valuation

P/E 19.8× · PEG 0.85

65% evidence

8.1/20Relative strength

RS sector -0.1% · RS bench -1.6% · 1Y 10.2%

100% evidence

7. PG&E Corporation · PCG

54.4/100 · Thin evidence · provisional · 59% evidence

Exact sum: 19.6 + 8 + 11.4 + 15.4 = 54.4

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

19.6/35Growth & earnings

Revenue — · PAT — · OPM change 1 pp

45% evidence

8.0/25Capital efficiency

ROCE 1% · debt/equity 1.9×

80% evidence

11.4/20Valuation

P/E 12.2× · PEG —

15% evidence

15.4/20Relative strength

RS sector 2.3% · RS bench 0.6% · 1Y 25.9%

100% evidence

8. Consolidated Edison, Inc. · ED

54.3/100 · Mixed-positive evidence · 82% evidence

Exact sum: 17.5 + 15.4 + 9.6 + 11.8 = 54.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.5/35Growth & earnings

Revenue 9.1% · PAT 14% · OPM change -0.3 pp

83% evidence

15.4/25Capital efficiency

ROCE 1.7% · debt/equity 1.06×

80% evidence

9.6/20Valuation

P/E 19× · PEG 1.94

65% evidence

11.8/20Relative strength

RS sector 0.7% · RS bench -0.9% · 1Y 7.2%

100% evidence

9. Emera Incorporated · EMA

52.4/100 · Mixed-positive evidence · 82% evidence

Exact sum: 16 + 13.7 + 9.2 + 13.5 = 52.4

Decision use: Price leads the evidence: RS versus the benchmark is 0.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

16.0/35Growth & earnings

Revenue 13.4% · PAT 13.4% · OPM change -1.1 pp

83% evidence

13.7/25Capital efficiency

ROCE 2.3% · debt/equity 1.69×

80% evidence

9.2/20Valuation

P/E 21.9× · PEG 1.84

65% evidence

13.5/20Relative strength

RS sector 2.2% · RS bench 0.6% · 1Y 16.4%

100% evidence

10. American Electric Power Company, Inc. · AEP

51.6/100 · Mixed-positive evidence · 82% evidence

Exact sum: 20.3 + 10 + 12.4 + 8.9 = 51.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.3/35Growth & earnings

Revenue 11.3% · PAT 36.9% · OPM change -0.9 pp

83% evidence

10.0/25Capital efficiency

ROCE 1.4% · debt/equity 2×

80% evidence

12.4/20Valuation

P/E 25.7× · PEG 0.84

65% evidence

8.9/20Relative strength

RS sector 1.9% · RS bench 0.3% · 1Y 17.1%

100% evidence

11. FirstEnergy Corp. · FE

51.4/100 · Mixed-positive evidence · 82% evidence

Exact sum: 16.2 + 10.1 + 13.5 + 11.6 = 51.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

16.2/35Growth & earnings

Revenue 11.3% · PAT 3.9% · OPM change -0.3 pp

83% evidence

10.1/25Capital efficiency

ROCE 1.7% · debt/equity 1.99×

80% evidence

13.5/20Valuation

P/E 27.7× · PEG 0.42

65% evidence

11.6/20Relative strength

RS sector 0.1% · RS bench -1.5% · 1Y 15%

100% evidence

12. Evergy, Inc. · EVRG

51.1/100 · Mixed-positive evidence · 82% evidence

Exact sum: 14.9 + 10.8 + 11 + 14.4 = 51.1

Decision use: Price leads the evidence: RS versus the benchmark is 1.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

14.9/35Growth & earnings

Revenue 2.4% · PAT 0.7% · OPM change 0.9 pp

83% evidence

10.8/25Capital efficiency

ROCE 1.1% · debt/equity 1.56×

80% evidence

11.0/20Valuation

P/E 21.6× · PEG 1.41

65% evidence

14.4/20Relative strength

RS sector 2.9% · RS bench 1.3% · 1Y 19.7%

100% evidence

13. PPL Corporation · PPL

49.3/100 · Mixed-negative evidence · 82% evidence

Exact sum: 20 + 15.2 + 11.5 + 2.6 = 49.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.0/35Growth & earnings

Revenue 7.5% · PAT 22.5% · OPM change -0.2 pp

83% evidence

15.2/25Capital efficiency

ROCE 1.9% · debt/equity 1.35×

80% evidence

11.5/20Valuation

P/E 23.3× · PEG 1.08

65% evidence

2.6/20Relative strength

RS sector -6.1% · RS bench -7.6% · 1Y 1.9%

100% evidence

14. Entergy Corporation · ETR

48.0/100 · Mixed-negative evidence · 82% evidence

Exact sum: 16.9 + 7.3 + 10.9 + 12.9 = 48

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

16.9/35Growth & earnings

Revenue 11.4% · PAT 33.8% · OPM change -6.6 pp

83% evidence

7.3/25Capital efficiency

ROCE 0.9% · debt/equity 1.93×

80% evidence

10.9/20Valuation

P/E 28.7× · PEG 1.05

65% evidence

12.9/20Relative strength

RS sector 4.5% · RS bench 2.9% · 1Y 25.3%

100% evidence

15. IDACORP, Inc. · IDA

47.9/100 · Mixed-negative evidence · 82% evidence

Exact sum: 19.5 + 11.1 + 4.1 + 13.2 = 47.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.5/35Growth & earnings

Revenue -1.5% · PAT 10.3% · OPM change 7.4 pp

83% evidence

11.1/25Capital efficiency

ROCE 0.9% · debt/equity 1.1×

80% evidence

4.1/20Valuation

P/E 23.8× · PEG 3.52

65% evidence

13.2/20Relative strength

RS sector 2.9% · RS bench 1.4% · 1Y 19.5%

100% evidence

16. Duke Energy Corporation · DUK

47.9/100 · Mixed-negative evidence · 82% evidence

Exact sum: 18.9 + 13.4 + 7.6 + 8 = 47.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.9/35Growth & earnings

Revenue 7.2% · PAT 7.8% · OPM change 1.3 pp

83% evidence

13.4/25Capital efficiency

ROCE 1.6% · debt/equity 1.61×

80% evidence

7.6/20Valuation

P/E 20.1× · PEG 2.47

65% evidence

8.0/20Relative strength

RS sector -1.9% · RS bench -3.5% · 1Y 5.2%

100% evidence

17. Pinnacle West Capital Corporation · PNW

46.9/100 · Mixed-negative evidence · 75% evidence

Exact sum: 20.1 + 4.1 + 7.1 + 15.6 = 46.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.1/35Growth & earnings

Revenue 4.9% · PAT 10.6% · OPM change 5.9 pp

62% evidence

4.1/25Capital efficiency

ROCE 0.5% · debt/equity 2.12×

80% evidence

7.1/20Valuation

P/E 18.8× · PEG 2.77

65% evidence

15.6/20Relative strength

RS sector 3.7% · RS bench 2.1% · 1Y 16.2%

100% evidence

18. NextEra Energy, Inc. · NEE

46.8/100 · Mixed-negative evidence · 82% evidence

Exact sum: 16.7 + 11.1 + 13.9 + 5.1 = 46.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

16.7/35Growth & earnings

Revenue 10.3% · PAT 55.2% · OPM change -3.1 pp

83% evidence

11.1/25Capital efficiency

ROCE 1.2% · debt/equity 1.57×

80% evidence

13.9/20Valuation

P/E 23.6× · PEG 0.5

65% evidence

5.1/20Relative strength

RS sector -0.9% · RS bench -2.5% · 1Y 26.8%

100% evidence

19. WEC Energy Group, Inc. · WEC

45.9/100 · Mixed-negative evidence · 82% evidence

Exact sum: 13.2 + 15.8 + 13.7 + 3.2 = 45.9

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

13.2/35Growth & earnings

Revenue 11.2% · PAT 0.5% · OPM change -1.3 pp

83% evidence

15.8/25Capital efficiency

ROCE 2.2% · debt/equity 1.53×

80% evidence

13.7/20Valuation

P/E 23.1× · PEG 0.74

65% evidence

3.2/20Relative strength

RS sector -4.3% · RS bench -5.8% · 1Y 3.1%

100% evidence

20. Fortis Inc. · FTS

45.5/100 · Mixed-negative evidence · 82% evidence

Exact sum: 13.1 + 13.8 + 5.2 + 13.4 = 45.5

Decision use: Price leads the evidence: RS versus the benchmark is 0.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

13.1/35Growth & earnings

Revenue 4.3% · PAT 4.9% · OPM change -0.4 pp

83% evidence

13.8/25Capital efficiency

ROCE 1.4% · debt/equity 1.34×

80% evidence

5.2/20Valuation

P/E 22.9× · PEG 2.9

65% evidence

13.4/20Relative strength

RS sector 2.4% · RS bench 0.8% · 1Y 16.9%

100% evidence

21. Exelon Corporation · EXC

44.1/100 · Mixed-negative evidence · 82% evidence

Exact sum: 12.4 + 11.8 + 12.1 + 7.8 = 44.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

12.4/35Growth & earnings

Revenue 4.6% · PAT 2.5% · OPM change -0.7 pp

83% evidence

11.8/25Capital efficiency

ROCE 1.5% · debt/equity 1.75×

80% evidence

12.1/20Valuation

P/E 18× · PEG 1.4

65% evidence

7.8/20Relative strength

RS sector -2.7% · RS bench -4.3% · 1Y 5.9%

100% evidence

22. CenterPoint Energy, Inc. · CNP

43.6/100 · Mixed-negative evidence · 82% evidence

Exact sum: 16 + 10.4 + 4.7 + 12.5 = 43.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

16.0/35Growth & earnings

Revenue 5.2% · PAT 10.9% · OPM change -0.1 pp

83% evidence

10.4/25Capital efficiency

ROCE 1.6% · debt/equity 2.21×

80% evidence

4.7/20Valuation

P/E 26.5× · PEG 2.82

65% evidence

12.5/20Relative strength

RS sector 2.1% · RS bench 0.5% · 1Y 13.6%

100% evidence

23. Alliant Energy Corporation · LNT

41.3/100 · Mixed-negative evidence · 82% evidence

Exact sum: 14.4 + 10.6 + 7.8 + 8.5 = 41.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

14.4/35Growth & earnings

Revenue 8.3% · PAT 10.2% · OPM change -1.8 pp

83% evidence

10.6/25Capital efficiency

ROCE 1.2% · debt/equity 1.59×

80% evidence

7.8/20Valuation

P/E 22.5× · PEG 2.25

65% evidence

8.5/20Relative strength

RS sector 0.4% · RS bench -1.1% · 1Y 12.7%

100% evidence

24. Xcel Energy Inc. · XEL

38.3/100 · Mixed-negative evidence · 82% evidence

Exact sum: 18.2 + 9.5 + 7 + 3.6 = 38.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.2/35Growth & earnings

Revenue 7.9% · PAT 8.3% · OPM change 1.5 pp

83% evidence

9.5/25Capital efficiency

ROCE 1.1% · debt/equity 1.65×

80% evidence

7.0/20Valuation

P/E 22.9× · PEG 2.43

65% evidence

3.6/20Relative strength

RS sector -3.1% · RS bench -4.6% · 1Y 9.4%

100% evidence

25. The Southern Company · SO

36.7/100 · Mixed-negative evidence · 73% evidence

Exact sum: 13.3 + 9.3 + 5.4 + 8.7 = 36.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

13.3/35Growth & earnings

Revenue 8.3% · PAT -5.3% · OPM change —

67% evidence

9.3/25Capital efficiency

ROCE 1.5% · debt/equity 1.9×

68% evidence

5.4/20Valuation

P/E 24.7× · PEG 2.75

65% evidence

8.7/20Relative strength

RS sector -1.8% · RS bench -3.3% · 1Y 1.9%

100% evidence

26. OGE Energy Corp. · OGE

36.2/100 · Mixed-negative evidence · 82% evidence

Exact sum: 8.2 + 10.2 + 5.2 + 12.6 = 36.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

8.2/35Growth & earnings

Revenue 4.1% · PAT -5.8% · OPM change -2.8 pp

83% evidence

10.2/25Capital efficiency

ROCE 0.9% · debt/equity 1.19×

80% evidence

5.2/20Valuation

P/E 21.6× · PEG 3.07

65% evidence

12.6/20Relative strength

RS sector 0.9% · RS bench -0.6% · 1Y 8.8%

100% evidence

27. DTE Energy Company · DTE

36.0/100 · Mixed-negative evidence · 82% evidence

Exact sum: 12.1 + 5.8 + 12.1 + 6 = 36

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

12.1/35Growth & earnings

Revenue 20.9% · PAT -17.7% · OPM change -6.1 pp

83% evidence

5.8/25Capital efficiency

ROCE 0.9% · debt/equity 2.19×

80% evidence

12.1/20Valuation

P/E 24.1× · PEG 0.89

65% evidence

6.0/20Relative strength

RS sector -2.2% · RS bench -3.7% · 1Y 5.5%

100% evidence

28. CMS Energy Corporation · CMS

33.2/100 · Adverse evidence · 82% evidence

Exact sum: 13.7 + 9.7 + 5.9 + 3.9 = 33.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

13.7/35Growth & earnings

Revenue 13.3% · PAT 0.5% · OPM change -2.3 pp

83% evidence

9.7/25Capital efficiency

ROCE 1.4% · debt/equity 1.9×

80% evidence

5.9/20Valuation

P/E 21.4× · PEG 2.89

65% evidence

3.9/20Relative strength

RS sector -4.8% · RS bench -6.3% · 1Y 0.4%

100% evidence

29. National Grid plc · NGG

43.3/100 · Thin evidence · provisional · 40% evidence

Exact sum: 18 + 13.7 + 10.6 + 1 = 43.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.0/35Growth & earnings

Revenue — · PAT — · OPM change —

16% evidence

13.7/25Capital efficiency

ROCE 2% · debt/equity —

46% evidence

10.6/20Valuation

P/E 19.6× · PEG —

15% evidence

1.0/20Relative strength

RS sector -4.9% · RS bench -6.4% · 1Y 12.6%

100% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Duke Energy Corporation has the highest Revenue among the 29 Utilities - Regulated Electric companies compared here, at $33,166 million. The Southern Company is next at $30,174 million. DTE Energy Company has the highest Revenue growth at 20.9%, so level and change sit with different companies. 27 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Duke Energy Corporation is the scale leader at $33,166 million, 9.9% ahead of The Southern Company. DTE Energy Company's growth is 20.9% from a $16,515 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderDuke Energy Corporation · $33,166 million

Gap9.9% versus #2 · The Southern Company

Persistence8/8 recent comparable periods

Coverage27/29 companies · 537 observations

Investor read: Duke Energy Corporation is the scale benchmark; DTE Energy Company is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Duke Energy Corporation's growth falls below DTE Energy Company's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Duke Energy Corporation DUK$33.2B

2The Southern Company SO$30.2B

3NextEra Energy, Inc. NEE$27.9B

4Companhia Paranaense de Energia - COPEL ELPC$27.3B

5Exelon Corporation EXC$24.8B

Revenue growthfastest growers

1DTE Energy Company DTE21%

2Public Service Enterprise Group Incorporated PEG19%

3Companhia Paranaense de Energia - COPEL ELPC18%

4Dominion Energy, Inc. D17%

5Emera Incorporated EMA13%

Revenue · company comparison

27/29 level · 27/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
National Grid plc NGG	$10.6B	2.0%	Mar 2026
Duke Energy Corporation DUK	$9.2B	11%	Mar 2026
The Southern Company SO	$8.4B	8.0%	Mar 2026
Exelon Corporation EXC	$7.2B	7.9%	Mar 2026
Companhia Paranaense de Energia - COPEL ELPC	$7.1B	20%	Mar 2026
PG&E Corporation PCG	$6.9B	15%	Jun 2026
NextEra Energy, Inc. NEE	$6.7B	7.3%	Mar 2026
American Electric Power Company, Inc. AEP	$6.0B	10%	Mar 2026
DTE Energy Company DTE	$5.1B	16%	Mar 2026
Consolidated Edison, Inc. ED	$5.1B	6.2%	Mar 2026
Dominion Energy, Inc. D	$5.0B	23%	Mar 2026
Eversource Energy ES	$4.5B	9.4%	Mar 2026
FirstEnergy Corp. FE	$4.2B	12%	Mar 2026
Edison International EIX	$4.1B	7.7%	Mar 2026
Xcel Energy Inc. XEL	$4.0B	2.9%	Mar 2026
Public Service Enterprise Group Incorporated PEG	$3.8B	19%	Mar 2026
WEC Energy Group, Inc. WEC	$3.4B	9.0%	Mar 2026
Fortis Inc. FTS	$3.4B	2.0%	Mar 2026
Entergy Corporation ETR	$3.2B	12%	Mar 2026
CenterPoint Energy, Inc. CNP	$3.0B	1.9%	Mar 2026
Emera Incorporated EMA	$2.8B	5.1%	Mar 2026
PPL Corporation PPL	$2.8B	11%	Mar 2026
CMS Energy Corporation CMS	$2.7B	12%	Mar 2026
Ameren Corporation AEE	$2.2B	3.8%	Mar 2026
Evergy, Inc. EVRG	$1.4B	5.0%	Mar 2026
Alliant Energy Corporation LNT	$1.2B	5.0%	Mar 2026
Pinnacle West Capital Corporation PNW	$1.2B	11%	Mar 2026
OGE Energy Corp. OGE	$753M	0.7%	Mar 2026
IDACORP, Inc. IDA	$403M	-6.7%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021$4.6B

Dec 2021$4.1B

Mar 2022$4.6B

Jun 2022$4.6B

Sep 2022$5.5B

Dec 2022$4.9B

Mar 2023$4.7B

Jun 2023$4.4B

Sep 2023$5.3B

Dec 2023$4.6B

Mar 2024$5.0B

Jun 2024$4.6B

Sep 2024$5.4B

Dec 2024$4.7B

Mar 2025$5.5B

Jun 2025$5.1B

Sep 2025$6.0B

Dec 2025$5.3B

Mar 2026$6.0B

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021$3.6B

Dec 2021$3.4B

Mar 2022$4.1B

Jun 2022$3.4B

Sep 2022$4.2B

Dec 2022$4.0B

Mar 2023$4.4B

Jun 2023$2.9B

Sep 2023$3.9B

Dec 2023$3.4B

Mar 2024$4.3B

Jun 2024$3.2B

Sep 2024$4.1B

Dec 2024$3.7B

Mar 2025$4.8B

Jun 2025$3.6B

Sep 2025$4.5B

Dec 2025$4.0B

Mar 2026$5.1B

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021$3.2B

Dec 2021$3.9B

Mar 2022$4.3B

Jun 2022$3.6B

Sep 2022$4.0B

Dec 2022$3.8B

Mar 2023$3.9B

Jun 2023$3.2B

Sep 2023$3.8B

Dec 2023$3.5B

Mar 2024$3.6B

Jun 2024$3.5B

Sep 2024$3.9B

Dec 2024$3.4B

Mar 2025$4.1B

Jun 2025$3.8B

Sep 2025$4.5B

Dec 2025$4.1B

Mar 2026$5.0B

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021$7.0B

Dec 2021$5.8B

Mar 2022$7.0B

Jun 2022$6.6B

Sep 2022$7.8B

Dec 2022$7.4B

Mar 2023$7.3B

Jun 2023$6.6B

Sep 2023$8.0B

Dec 2023$7.2B

Mar 2024$7.7B

Jun 2024$7.2B

Sep 2024$8.2B

Dec 2024$7.4B

Mar 2025$8.2B

Jun 2025$7.5B

Sep 2025$8.5B

Dec 2025$7.9B

Mar 2026$9.2B

Jun 2026—

Entergy Corporation · ETR

Sep 2021$3.4B

Dec 2021$2.7B

Mar 2022$2.9B

Jun 2022$3.4B

Sep 2022$4.2B

Dec 2022$3.3B

Mar 2023$3.0B

Jun 2023$2.8B

Sep 2023$3.6B

Dec 2023$2.7B

Mar 2024$2.8B

Jun 2024$3.0B

Sep 2024$3.4B

Dec 2024$2.7B

Mar 2025$2.8B

Jun 2025$3.3B

Sep 2025$3.8B

Dec 2025$3.0B

Mar 2026$3.2B

Jun 2026—

Exelon Corporation · EXC

Sep 2021$4.9B

Dec 2021$4.4B

Mar 2022$5.3B

Jun 2022$4.2B

Sep 2022$4.8B

Dec 2022$4.7B

Mar 2023$5.6B

Jun 2023$4.8B

Sep 2023$6.0B

Dec 2023$5.4B

Mar 2024$6.0B

Jun 2024$5.4B

Sep 2024$6.2B

Dec 2024$5.5B

Mar 2025$6.7B

Jun 2025$5.4B

Sep 2025$6.7B

Dec 2025$5.4B

Mar 2026$7.2B

Jun 2026—

National Grid plc · NGG

Sep 2021$6.9B

Dec 2021—

Mar 2022$11.5B

Jun 2022—

Sep 2022$9.4B

Dec 2022—

Mar 2023$12.2B

Jun 2023—

Sep 2023$8.5B

Dec 2023—

Mar 2024$11.4B

Jun 2024—

Sep 2024$8.0B

Dec 2024—

Mar 2025$10.4B

Jun 2025—

Sep 2025$7.1B

Dec 2025—

Mar 2026$10.6B

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021$4.4B

Dec 2021$5.0B

Mar 2022$2.9B

Jun 2022$5.2B

Sep 2022$6.7B

Dec 2022$6.2B

Mar 2023$6.7B

Jun 2023$7.3B

Sep 2023$7.2B

Dec 2023$6.9B

Mar 2024$5.7B

Jun 2024$6.1B

Sep 2024$7.6B

Dec 2024$5.4B

Mar 2025$6.2B

Jun 2025$6.7B

Sep 2025$8.0B

Dec 2025$6.5B

Mar 2026$6.7B

Jun 2026—

PG&E Corporation · PCG

Sep 2021$5.5B

Dec 2021$5.2B

Mar 2022$5.8B

Jun 2022$5.1B

Sep 2022$5.4B

Dec 2022$5.4B

Mar 2023$6.2B

Jun 2023$5.3B

Sep 2023$5.9B

Dec 2023$7.0B

Mar 2024$5.9B

Jun 2024$6.0B

Sep 2024$5.9B

Dec 2024$6.6B

Mar 2025$6.0B

Jun 2025$5.9B

Sep 2025$6.3B

Dec 2025$6.8B

Mar 2026$6.9B

Jun 2026—

Public Service Enterprise Group Incorporated · PEG

Sep 2021$1.9B

Dec 2021$3.1B

Mar 2022$2.3B

Jun 2022$2.1B

Sep 2022$2.3B

Dec 2022$3.1B

Mar 2023$3.8B

Jun 2023$2.4B

Sep 2023$2.5B

Dec 2023$2.6B

Mar 2024$2.8B

Jun 2024$2.4B

Sep 2024$2.6B

Dec 2024$2.5B

Mar 2025$3.2B

Jun 2025$2.8B

Sep 2025$3.2B

Dec 2025$2.9B

Mar 2026$3.8B

Jun 2026—

The Southern Company · SO

Sep 2021$6.2B

Dec 2021$5.8B

Mar 2022$6.6B

Jun 2022$7.2B

Sep 2022$8.4B

Dec 2022$7.0B

Mar 2023$6.5B

Jun 2023$5.7B

Sep 2023$7.0B

Dec 2023$6.0B

Mar 2024$6.6B

Jun 2024$6.5B

Sep 2024$7.3B

Dec 2024$6.3B

Mar 2025$7.8B

Jun 2025$7.0B

Sep 2025$7.8B

Dec 2025$7.0B

Mar 2026$8.4B

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021$3.5B

Dec 2021$3.4B

Mar 2022$3.8B

Jun 2022$3.4B

Sep 2022$4.1B

Dec 2022$4.1B

Mar 2023$4.1B

Jun 2023$3.0B

Sep 2023$3.7B

Dec 2023$3.4B

Mar 2024$3.6B

Jun 2024$3.0B

Sep 2024$3.6B

Dec 2024$3.1B

Mar 2025$3.9B

Jun 2025$3.3B

Sep 2025$3.9B

Dec 2025$3.6B

Mar 2026$4.0B

Jun 2026—

Revenue growth · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202221%

Sep 202220%

Dec 202220%

Mar 20232.1%

Jun 2023-5.8%

Sep 2023-3.3%

Dec 2023-6.2%

Mar 20247.1%

Jun 20244.7%

Sep 20241.5%

Dec 20242.6%

Mar 20258.7%

Jun 202511%

Sep 202511%

Dec 202513%

Mar 202610%

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202215%

Sep 202215%

Dec 202218%

Mar 20238.5%

Jun 2023-14%

Sep 2023-7.0%

Dec 2023-15%

Mar 2024-2.8%

Jun 20249.4%

Sep 20245.7%

Dec 20246.5%

Mar 202512%

Jun 202512%

Sep 202511%

Dec 20258.9%

Mar 20266.2%

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202218%

Sep 202225%

Dec 2022-2.0%

Mar 2023-9.3%

Jun 2023-12%

Sep 2023-3.9%

Dec 2023-7.1%

Mar 2024-6.5%

Jun 202410%

Sep 20243.4%

Dec 2024-3.8%

Mar 202512%

Jun 20259.3%

Sep 202515%

Dec 202520%

Mar 202623%

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202214%

Sep 202213%

Dec 202228%

Mar 20233.8%

Jun 20230.2%

Sep 20231.9%

Dec 2023-1.9%

Mar 20245.4%

Jun 20249.0%

Sep 20242.0%

Dec 20242.1%

Mar 20257.5%

Jun 20254.7%

Sep 20254.8%

Dec 20257.9%

Mar 202611%

Jun 2026—

Entergy Corporation · ETR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202220%

Sep 202226%

Dec 202220%

Mar 20233.6%

Jun 2023-16%

Sep 2023-15%

Dec 2023-17%

Mar 2024-6.2%

Jun 20243.8%

Sep 2024-5.8%

Dec 20240.6%

Mar 20251.9%

Jun 202513%

Sep 202512%

Dec 20257.9%

Mar 202612%

Jun 2026—

Exelon Corporation · EXC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20225.5%

Sep 2022-0.4%

Dec 20225.5%

Mar 20234.4%

Jun 202314%

Sep 202323%

Dec 202315%

Mar 20248.6%

Jun 202411%

Sep 20242.9%

Dec 20241.9%

Mar 202511%

Jun 20251.2%

Sep 20259.0%

Dec 2025-1.1%

Mar 20267.9%

Jun 2026—

National Grid plc · NGG

Sep 202114%

Dec 2021—

Mar 202251%

Jun 2022—

Sep 202236%

Dec 2022—

Mar 20236.1%

Jun 2023—

Sep 2023-10%

Dec 2023—

Mar 2024-7.0%

Jun 2024—

Sep 2024-6.2%

Dec 2024—

Mar 2025-8.3%

Jun 2025—

Sep 2025-11%

Dec 2025—

Mar 20262.0%

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202232%

Sep 202254%

Dec 202222%

Mar 2023132%

Jun 202342%

Sep 20236.7%

Dec 202312%

Mar 2024-15%

Jun 2024-17%

Sep 20245.5%

Dec 2024-22%

Mar 20259.0%

Jun 202510%

Sep 20255.3%

Dec 202521%

Mar 20267.3%

Jun 2026—

PG&E Corporation · PCG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-1.9%

Sep 2022-1.3%

Dec 20222.4%

Mar 20237.1%

Jun 20233.4%

Sep 20239.2%

Dec 202331%

Mar 2024-5.6%

Jun 202413%

Sep 20240.9%

Dec 2024-5.8%

Mar 20252.1%

Jun 2025-1.5%

Sep 20255.2%

Dec 20252.6%

Mar 202615%

Jun 2026—

Public Service Enterprise Group Incorporated · PEG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202211%

Sep 202219%

Dec 20222.7%

Mar 202362%

Jun 202317%

Sep 20238.1%

Dec 2023-17%

Mar 2024-27%

Jun 20240.1%

Sep 20247.6%

Dec 2024-5.4%

Mar 202517%

Jun 202516%

Sep 202522%

Dec 202518%

Mar 202619%

Jun 2026—

The Southern Company · SO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202239%

Sep 202234%

Dec 202222%

Mar 2023-2.5%

Jun 2023-20%

Sep 2023-17%

Dec 2023-14%

Mar 20242.6%

Jun 202412%

Sep 20244.2%

Dec 20244.9%

Mar 202517%

Jun 20257.9%

Sep 20257.6%

Dec 202510%

Mar 20268.0%

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202212%

Sep 202218%

Dec 202221%

Mar 20238.8%

Jun 2023-12%

Sep 2023-10%

Dec 2023-15%

Mar 2024-11%

Jun 20240.2%

Sep 2024-0.5%

Dec 2024-9.4%

Mar 20257.0%

Jun 20258.6%

Sep 20257.4%

Dec 202514%

Mar 20262.9%

Jun 2026—

02 · compare level, then change

Operating Economics & Margin Trend

Emera Incorporated has the highest OPM among the 29 Utilities - Regulated Electric companies compared here, at 33.5%. NextEra Energy, Inc. is next at 33%. IDACORP, Inc. has the highest Margin change at +7.4 percentage points, so level and change sit with different companies. 27 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Emera Incorporated leads opm at 33.5%; IDACORP, Inc. leads margin change at +7.4 percentage points.

LeaderEmera Incorporated · 33.5%

Gap1.5% versus #2 · NextEra Energy, Inc.

Persistence5/8 recent comparable periods

Coverage27/29 companies · 508 observations

Investor read: Emera Incorporated sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Emera Incorporated EMA34%

2NextEra Energy, Inc. NEE33%

3Duke Energy Corporation DUK30%

4WEC Energy Group, Inc. WEC29%

5Fortis Inc. FTS28%

Margin changefastest expanders

1IDACORP, Inc. IDA+7.4 pp

2Pinnacle West Capital Corporation PNW+5.9 pp

3Ameren Corporation AEE+3.9 pp

4Public Service Enterprise Group Incorporated PEG+3.2 pp

5Xcel Energy Inc. XEL+1.5 pp

Operating margin · company comparison

27/29 level · 27/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
Emera Incorporated EMA	34%	−1.1 pp	Mar 2026
NextEra Energy, Inc. NEE	33%	−3.1 pp	Mar 2026
Duke Energy Corporation DUK	30%	+1.3 pp	Mar 2026
WEC Energy Group, Inc. WEC	29%	−1.3 pp	Mar 2026
Fortis Inc. FTS	28%	−0.4 pp	Mar 2026
Public Service Enterprise Group Incorporated PEG	28%	+3.2 pp	Mar 2026
Dominion Energy, Inc. D	28%	−2.3 pp	Mar 2026
PPL Corporation PPL	27%	−0.2 pp	Mar 2026
Edison International EIX	26%	−29.8 pp	Mar 2026
Ameren Corporation AEE	24%	+3.9 pp	Mar 2026
Eversource Energy ES	24%	+1.4 pp	Mar 2026
Consolidated Edison, Inc. ED	23%	−0.3 pp	Mar 2026
American Electric Power Company, Inc. AEP	23%	−0.9 pp	Mar 2026
Exelon Corporation EXC	22%	−0.7 pp	Mar 2026
CenterPoint Energy, Inc. CNP	22%	−0.1 pp	Mar 2026
Evergy, Inc. EVRG	22%	+0.9 pp	Mar 2026
PG&E Corporation PCG	22%	+1.0 pp	Jun 2026
Companhia Paranaense de Energia - COPEL ELPC	21%	−2.1 pp	Mar 2026
Alliant Energy Corporation LNT	21%	−1.8 pp	Mar 2026
IDACORP, Inc. IDA	20%	+7.4 pp	Mar 2026
FirstEnergy Corp. FE	20%	−0.3 pp	Mar 2026
Xcel Energy Inc. XEL	19%	+1.5 pp	Mar 2026
Entergy Corporation ETR	18%	−6.6 pp	Mar 2026
CMS Energy Corporation CMS	18%	−2.3 pp	Mar 2026
OGE Energy Corp. OGE	15%	−2.8 pp	Mar 2026
Pinnacle West Capital Corporation PNW	11%	+5.9 pp	Mar 2026
DTE Energy Company DTE	8.0%	−6.1 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ameren Corporation · AEE

Sep 202130%

Dec 202113%

Mar 202218%

Jun 202218%

Sep 202226%

Dec 202214%

Mar 202317%

Jun 202319%

Sep 202330%

Dec 202316%

Mar 202420%

Jun 202421%

Sep 202427%

Dec 202410%

Mar 202521%

Jun 202519%

Sep 202531%

Dec 202520%

Mar 202624%

Jun 2026—

American Electric Power Company, Inc. · AEP

Sep 202124%

Dec 202117%

Mar 202222%

Jun 202222%

Sep 202217%

Dec 202212%

Mar 202315%

Jun 202320%

Sep 202325%

Dec 202314%

Mar 202423%

Jun 202415%

Sep 202425%

Dec 202423%

Mar 202524%

Jun 202528%

Sep 202525%

Dec 202521%

Mar 202623%

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 202124%

Dec 202120%

Mar 202220%

Jun 202211%

Sep 202221%

Dec 202214%

Mar 202340%

Jun 20239.6%

Sep 202319%

Dec 202313%

Mar 202424%

Jun 20249.9%

Sep 202421%

Dec 202413%

Mar 202523%

Jun 20259.9%

Sep 202521%

Dec 202512%

Mar 202623%

Jun 2026—

Dominion Energy, Inc. · D

Sep 202127%

Dec 202124%

Mar 202223%

Jun 2022-8.8%

Sep 202225%

Dec 20227.1%

Mar 202328%

Jun 202319%

Sep 202327%

Dec 202320%

Mar 202423%

Jun 202423%

Sep 202431%

Dec 202412%

Mar 202530%

Jun 202529%

Sep 202530%

Dec 202519%

Mar 202628%

Jun 2026—

Duke Energy Corporation · DUK

Sep 202124%

Dec 202121%

Mar 202219%

Jun 202222%

Sep 202226%

Dec 202216%

Mar 202323%

Jun 202322%

Sep 202326%

Dec 202326%

Mar 202426%

Jun 202424%

Sep 202426%

Dec 202429%

Mar 202528%

Jun 202524%

Sep 202527%

Dec 202527%

Mar 202630%

Jun 2026—

Entergy Corporation · ETR

Sep 202125%

Dec 202113%

Mar 202220%

Jun 20222.4%

Sep 202223%

Dec 202214%

Mar 202316%

Jun 202327%

Sep 202332%

Dec 20239.4%

Mar 20248.5%

Jun 202421%

Sep 202433%

Dec 202424%

Mar 202525%

Jun 202525%

Sep 202529%

Dec 202518%

Mar 202618%

Jun 2026—

Exelon Corporation · EXC

Sep 202116%

Dec 202112%

Mar 202217%

Jun 202216%

Sep 202221%

Dec 202215%

Mar 202320%

Jun 202315%

Sep 202319%

Dec 202320%

Mar 202418%

Jun 202417%

Sep 202419%

Dec 202420%

Mar 202523%

Jun 202517%

Sep 202522%

Dec 202522%

Mar 202622%

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 20218.7%

Dec 202127%

Mar 2022-27%

Jun 202218%

Sep 202228%

Dec 202233%

Mar 202344%

Jun 202338%

Sep 202326%

Dec 202339%

Mar 202435%

Jun 202428%

Sep 202438%

Dec 202418%

Mar 202536%

Jun 202529%

Sep 202532%

Dec 202524%

Mar 202633%

Jun 2026—

PG&E Corporation · PCG

Sep 20215.6%

Dec 202112%

Mar 20229.2%

Jun 20228.7%

Sep 202214%

Dec 20222.4%

Mar 202310%

Jun 20239.6%

Sep 20236.9%

Dec 202316%

Mar 202422%

Jun 202419%

Sep 202417%

Dec 202415%

Mar 202521%

Jun 202519%

Sep 202519%

Dec 202518%

Mar 202622%

Jun 2026—

Public Service Enterprise Group Incorporated · PEG

Sep 2021-116%

Dec 202130%

Mar 2022-2.2%

Jun 202214%

Sep 20227.6%

Dec 202231%

Mar 202344%

Jun 202333%

Sep 202322%

Dec 202327%

Mar 202425%

Jun 202424%

Sep 202424%

Dec 202418%

Mar 202525%

Jun 202529%

Sep 202527%

Dec 202518%

Mar 202628%

Jun 2026—

WEC Energy Group, Inc. · WEC

Sep 202122%

Dec 202115%

Mar 202225%

Jun 202219%

Sep 202220%

Dec 202215%

Mar 202323%

Jun 202323%

Sep 202324%

Dec 202315%

Mar 202430%

Jun 202421%

Sep 202421%

Dec 202426%

Mar 202530%

Jun 202520%

Sep 202521%

Dec 202518%

Mar 202629%

Jun 2026—

Xcel Energy Inc. · XEL

Sep 202124%

Dec 202113%

Mar 202214%

Jun 202214%

Sep 202223%

Dec 202213%

Mar 202314%

Jun 202314%

Sep 202325%

Dec 202317%

Mar 202419%

Jun 202415%

Sep 202425%

Dec 202411%

Mar 202517%

Jun 202518%

Sep 202519%

Dec 202516%

Mar 202619%

Jun 2026—

Margin change · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ameren Corporation · AEE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−1.5 pp

Sep 2022−3.5 pp

Dec 2022+0.7 pp

Mar 2023−0.6 pp

Jun 2023+0.8 pp

Sep 2023+3.8 pp

Dec 2023+2.8 pp

Mar 2024+3.4 pp

Jun 2024+2.6 pp

Sep 2024−2.8 pp

Dec 2024−6.1 pp

Mar 2025+0.1 pp

Jun 2025−2.8 pp

Sep 2025+3.6 pp

Dec 2025+10.0 pp

Mar 2026+3.9 pp

Jun 2026—

American Electric Power Company, Inc. · AEP

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.4 pp

Sep 2022−7.2 pp

Dec 2022−5.3 pp

Mar 2023−6.5 pp

Jun 2023−1.6 pp

Sep 2023+8.5 pp

Dec 2023+2.1 pp

Mar 2024+8.3 pp

Jun 2024−5.1 pp

Sep 2024−0.4 pp

Dec 2024+9.7 pp

Mar 2025+0.2 pp

Jun 2025+12.6 pp

Sep 2025+0.4 pp

Dec 2025−2.3 pp

Mar 2026−0.9 pp

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−2.8 pp

Sep 2022−2.2 pp

Dec 2022−6.8 pp

Mar 2023+19.8 pp

Jun 2023−1.7 pp

Sep 2023−2.7 pp

Dec 2023−0.5 pp

Mar 2024−15.9 pp

Jun 2024+0.3 pp

Sep 2024+2.5 pp

Dec 2024−0.1 pp

Mar 2025−0.2 pp

Jun 20250.0 pp

Sep 2025+0.3 pp

Dec 2025−0.8 pp

Mar 2026−0.3 pp

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−20.7 pp

Sep 2022−1.4 pp

Dec 2022−17.0 pp

Mar 2023+5.0 pp

Jun 2023+27.6 pp

Sep 2023+1.9 pp

Dec 2023+13.0 pp

Mar 2024−4.9 pp

Jun 2024+4.3 pp

Sep 2024+3.9 pp

Dec 2024−8.6 pp

Mar 2025+7.1 pp

Jun 2025+5.7 pp

Sep 2025−1.3 pp

Dec 2025+7.0 pp

Mar 2026−2.3 pp

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+1.8 pp

Sep 2022+1.9 pp

Dec 2022−4.5 pp

Mar 2023+4.3 pp

Jun 2023−0.4 pp

Sep 2023+0.2 pp

Dec 2023+9.5 pp

Mar 2024+2.6 pp

Jun 2024+2.1 pp

Sep 2024−0.1 pp

Dec 2024+3.0 pp

Mar 2025+2.8 pp

Jun 2025+0.6 pp

Sep 2025+1.0 pp

Dec 2025−2.0 pp

Mar 2026+1.3 pp

Jun 2026—

Entergy Corporation · ETR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−3.6 pp

Sep 2022−2.1 pp

Dec 2022+1.2 pp

Mar 2023−4.2 pp

Jun 2023+24.2 pp

Sep 2023+9.2 pp

Dec 2023−4.3 pp

Mar 2024−7.0 pp

Jun 2024−5.7 pp

Sep 2024+1.4 pp

Dec 2024+15.0 pp

Mar 2025+16.1 pp

Jun 2025+4.3 pp

Sep 2025−3.8 pp

Dec 2025−6.0 pp

Mar 2026−6.6 pp

Jun 2026—

Exelon Corporation · EXC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+2.0 pp

Sep 2022+5.4 pp

Dec 2022+3.4 pp

Mar 2023+3.0 pp

Jun 2023−1.8 pp

Sep 2023−2.1 pp

Dec 2023+5.1 pp

Mar 2024−1.5 pp

Jun 2024+2.4 pp

Sep 2024+0.6 pp

Dec 2024−0.2 pp

Mar 2025+4.5 pp

Jun 2025+0.1 pp

Sep 2025+3.0 pp

Dec 2025+1.8 pp

Mar 2026−0.7 pp

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+5.3 pp

Sep 2022+19.0 pp

Dec 2022+6.3 pp

Mar 2023+70.6 pp

Jun 2023+19.8 pp

Sep 2023−2.1 pp

Dec 2023+5.5 pp

Mar 2024−8.7 pp

Jun 2024−10.6 pp

Sep 2024+12.1 pp

Dec 2024−21.2 pp

Mar 2025+1.0 pp

Jun 2025+1.0 pp

Sep 2025−6.0 pp

Dec 2025+6.9 pp

Mar 2026−3.1 pp

Jun 2026—

PG&E Corporation · PCG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−3.5 pp

Sep 2022+7.9 pp

Dec 2022−9.8 pp

Mar 2023+0.9 pp

Jun 2023+0.9 pp

Sep 2023−6.6 pp

Dec 2023+13.6 pp

Mar 2024+11.7 pp

Jun 2024+9.3 pp

Sep 2024+10.4 pp

Dec 2024−0.6 pp

Mar 2025−1.3 pp

Jun 2025−0.3 pp

Sep 2025+2.0 pp

Dec 2025+2.6 pp

Mar 2026+1.0 pp

Jun 2026—

Public Service Enterprise Group Incorporated · PEG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+30.0 pp

Sep 2022+123.5 pp

Dec 2022+1.2 pp

Mar 2023+46.1 pp

Jun 2023+18.5 pp

Sep 2023+14.8 pp

Dec 2023−4.1 pp

Mar 2024−19.1 pp

Jun 2024−8.8 pp

Sep 2024+1.9 pp

Dec 2024−8.5 pp

Mar 2025−0.1 pp

Jun 2025+5.1 pp

Sep 2025+2.2 pp

Dec 2025−0.6 pp

Mar 2026+3.2 pp

Jun 2026—

WEC Energy Group, Inc. · WEC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−2.8 pp

Sep 2022−2.1 pp

Dec 2022+0.1 pp

Mar 2023−2.0 pp

Jun 2023+4.0 pp

Sep 2023+3.9 pp

Dec 2023+0.5 pp

Mar 2024+7.1 pp

Jun 2024−2.6 pp

Sep 2024−3.5 pp

Dec 2024+10.5 pp

Mar 2025−0.5 pp

Jun 2025−0.5 pp

Sep 2025+0.8 pp

Dec 2025−8.0 pp

Mar 2026−1.3 pp

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.6 pp

Sep 2022−1.2 pp

Dec 2022+0.1 pp

Mar 2023+0.4 pp

Jun 2023+0.1 pp

Sep 2023+2.4 pp

Dec 2023+3.7 pp

Mar 2024+4.6 pp

Jun 2024+1.0 pp

Sep 20240.0 pp

Dec 2024−5.6 pp

Mar 2025−1.3 pp

Jun 2025+2.8 pp

Sep 2025−5.9 pp

Dec 2025+5.2 pp

Mar 2026+1.5 pp

Jun 2026—

03 · compare level, then change

Profit Scale & Acceleration

NextEra Energy, Inc. has the highest Net profit among the 29 Utilities - Regulated Electric companies compared here, at $6,555 million. Duke Energy Corporation is next at $5,230 million. Eversource Energy has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: NextEra Energy, Inc. leads with $6,555 million of TTM profit, 25.3% above Duke Energy Corporation. Eversource Energy shows ≥100% on the scoring scale (107.1% uncapped) growth from a $1,756 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderNextEra Energy, Inc. · $6,555 million

Gap25.3% versus #2 · Duke Energy Corporation

Persistence5/8 recent comparable periods

Coverage27/29 companies · 537 observations

Investor read: NextEra Energy, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1NextEra Energy, Inc. NEE$6.6B

2Duke Energy Corporation DUK$5.2B

3The Southern Company SO$4.4B

4American Electric Power Company, Inc. AEP$3.8B

5Edison International EIX$3.8B

Profit growthfastest growers

1Eversource Energy ES100%

2NextEra Energy, Inc. NEE55%

3American Electric Power Company, Inc. AEP37%

4Dominion Energy, Inc. D37%

5Entergy Corporation ETR34%

Net profit · company comparison

27/29 level · 26/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
National Grid plc NGG	$2.6B	16%	Mar 2026
NextEra Energy, Inc. NEE	$1.7B	264%	Mar 2026
Duke Energy Corporation DUK	$1.6B	11%	Mar 2026
The Southern Company SO	$1.4B	1.7%	Mar 2026
PG&E Corporation PCG	$954M	37%	Jun 2026
Consolidated Edison, Inc. ED	$924M	17%	Mar 2026
Exelon Corporation EXC	$919M	1.2%	Mar 2026
American Electric Power Company, Inc. AEP	$903M	13%	Mar 2026
WEC Energy Group, Inc. WEC	$806M	11%	Mar 2026
Dominion Energy, Inc. D	$786M	10%	Mar 2026
Public Service Enterprise Group Incorporated PEG	$741M	26%	Mar 2026
Companhia Paranaense de Energia - COPEL ELPC	$694M	4.4%	Mar 2026
Eversource Energy ES	$609M	10%	Mar 2026
Emera Incorporated EMA	$582M	-3.2%	Mar 2026
Edison International EIX	$570M	-62%	Mar 2026
Fortis Inc. FTS	$562M	0.7%	Mar 2026
Xcel Energy Inc. XEL	$556M	15%	Mar 2026
FirstEnergy Corp. FE	$466M	13%	Mar 2026
PPL Corporation PPL	$452M	9.2%	Mar 2026
Entergy Corporation ETR	$391M	8.0%	Mar 2026
Ameren Corporation AEE	$358M	23%	Mar 2026
CenterPoint Energy, Inc. CNP	$316M	6.4%	Mar 2026
CMS Energy Corporation CMS	$277M	-6.1%	Mar 2026
DTE Energy Company DTE	$247M	-44%	Mar 2026
Alliant Energy Corporation LNT	$224M	5.2%	Mar 2026
Evergy, Inc. EVRG	$152M	20%	Mar 2026
IDACORP, Inc. IDA	$68M	13%	Mar 2026
OGE Energy Corp. OGE	$50M	-21%	Mar 2026
Pinnacle West Capital Corporation PNW	$35M	4.8%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021$797M

Dec 2021$539M

Mar 2022$718M

Jun 2022$521M

Sep 2022$683M

Dec 2022$383M

Mar 2023$400M

Jun 2023$516M

Sep 2023$958M

Dec 2023$338M

Mar 2024$1.0B

Jun 2024$343M

Sep 2024$962M

Dec 2024$666M

Mar 2025$802M

Jun 2025$1.3B

Sep 2025$1.0B

Dec 2025$605M

Mar 2026$903M

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021$469M

Dec 2021$186M

Mar 2022$554M

Jun 2022$254M

Sep 2022$619M

Dec 2022$173M

Mar 2023$1.4B

Jun 2023$226M

Sep 2023$526M

Dec 2023$334M

Mar 2024$720M

Jun 2024$202M

Sep 2024$588M

Dec 2024$310M

Mar 2025$791M

Jun 2025$246M

Sep 2025$688M

Dec 2025$297M

Mar 2026$924M

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021$601M

Dec 2021$823M

Mar 2022$692M

Jun 2022$-452M

Sep 2022$626M

Dec 2022$8M

Mar 2023$700M

Jun 2023$415M

Sep 2023$698M

Dec 2023$274M

Mar 2024$323M

Jun 2024$466M

Sep 2024$949M

Dec 2024$178M

Mar 2025$712M

Jun 2025$813M

Sep 2025$1.0B

Dec 2025$526M

Mar 2026$786M

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021$1.3B

Dec 2021$657M

Mar 2022$835M

Jun 2022$898M

Sep 2022$1.4B

Dec 2022$635M

Mar 2023$970M

Jun 2023$751M

Sep 2023$1.5B

Dec 2023$1.1B

Mar 2024$1.2B

Jun 2024$931M

Sep 2024$1.3B

Dec 2024$1.2B

Mar 2025$1.4B

Jun 2025$1.0B

Sep 2025$1.5B

Dec 2025$1.2B

Mar 2026$1.6B

Jun 2026—

Entergy Corporation · ETR

Sep 2021$536M

Dec 2021$245M

Mar 2022$280M

Jun 2022$164M

Sep 2022$556M

Dec 2022$98M

Mar 2023$312M

Jun 2023$392M

Sep 2023$670M

Dec 2023$988M

Mar 2024$77M

Jun 2024$52M

Sep 2024$646M

Dec 2024$287M

Mar 2025$362M

Jun 2025$472M

Sep 2025$698M

Dec 2025$241M

Mar 2026$391M

Jun 2026—

Exelon Corporation · EXC

Sep 2021$457M

Dec 2021$309M

Mar 2022$481M

Jun 2022$465M

Sep 2022$676M

Dec 2022$432M

Mar 2023$669M

Jun 2023$343M

Sep 2023$700M

Dec 2023$617M

Mar 2024$658M

Jun 2024$448M

Sep 2024$707M

Dec 2024$647M

Mar 2025$908M

Jun 2025$391M

Sep 2025$875M

Dec 2025$594M

Mar 2026$919M

Jun 2026—

National Grid plc · NGG

Sep 2021$376M

Dec 2021—

Mar 2022$1.8B

Jun 2022—

Sep 2022$1.2B

Dec 2022—

Mar 2023$1.5B

Jun 2023—

Sep 2023$1.1B

Dec 2023—

Mar 2024$1.2B

Jun 2024—

Sep 2024$572M

Dec 2024—

Mar 2025$2.3B

Jun 2025—

Sep 2025$618M

Dec 2025—

Mar 2026$2.6B

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021$304M

Dec 2021$953M

Mar 2022$-693M

Jun 2022$1.1B

Sep 2022$1.6B

Dec 2022$1.3B

Mar 2023$1.8B

Jun 2023$2.6B

Sep 2023$1.0B

Dec 2023$915M

Mar 2024$1.9B

Jun 2024$1.3B

Sep 2024$1.6B

Dec 2024$873M

Mar 2025$464M

Jun 2025$1.6B

Sep 2025$2.1B

Dec 2025$1.1B

Mar 2026$1.7B

Jun 2026—

PG&E Corporation · PCG

Sep 2021$-1.1B

Dec 2021$476M

Mar 2022$478M

Jun 2022$360M

Sep 2022$459M

Dec 2022$517M

Mar 2023$572M

Jun 2023$410M

Sep 2023$420M

Dec 2023$730M

Mar 2024$735M

Jun 2024$524M

Sep 2024$579M

Dec 2024$674M

Mar 2025$695M

Jun 2025$549M

Sep 2025$850M

Dec 2025$670M

Mar 2026$954M

Jun 2026—

Public Service Enterprise Group Incorporated · PEG

Sep 2021$-1.6B

Dec 2021$445M

Mar 2022$-2M

Jun 2022$131M

Sep 2022$114M

Dec 2022$788M

Mar 2023$1.3B

Jun 2023$591M

Sep 2023$139M

Dec 2023$687M

Mar 2024$532M

Jun 2024$434M

Sep 2024$520M

Dec 2024$286M

Mar 2025$589M

Jun 2025$585M

Sep 2025$622M

Dec 2025$315M

Mar 2026$741M

Jun 2026—

The Southern Company · SO

Sep 2021$1.1B

Dec 2021$-215M

Mar 2022$1.0B

Jun 2022$1.1B

Sep 2022$1.5B

Dec 2022$-87M

Mar 2023$862M

Jun 2023$838M

Sep 2023$1.4B

Dec 2023$855M

Mar 2024$1.1B

Jun 2024$1.2B

Sep 2024$1.5B

Dec 2024$534M

Mar 2025$1.3B

Jun 2025$880M

Sep 2025$1.7B

Dec 2025$416M

Mar 2026$1.4B

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021$609M

Dec 2021$315M

Mar 2022$380M

Jun 2022$328M

Sep 2022$649M

Dec 2022$379M

Mar 2023$418M

Jun 2023$288M

Sep 2023$656M

Dec 2023$409M

Mar 2024$488M

Jun 2024$302M

Sep 2024$682M

Dec 2024$464M

Mar 2025$483M

Jun 2025$444M

Sep 2025$524M

Dec 2025$567M

Mar 2026$556M

Jun 2026—

Profit growth · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-9.2%

Sep 2022-14%

Dec 2022-29%

Mar 2023-44%

Jun 2023-1.0%

Sep 202340%

Dec 2023-12%

Mar 2024152%

Jun 2024-34%

Sep 20240.4%

Dec 202497%

Mar 2025-20%

Jun 2025276%

Sep 20254.0%

Dec 2025-9.2%

Mar 202613%

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022115%

Sep 202232%

Dec 2022-7.0%

Mar 2023158%

Jun 2023-11%

Sep 2023-15%

Dec 202393%

Mar 2024-50%

Jun 2024-11%

Sep 202412%

Dec 2024-7.2%

Mar 20259.9%

Jun 202522%

Sep 202517%

Dec 2025-4.2%

Mar 202617%

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-268%

Sep 20224.2%

Dec 2022-99%

Mar 20231.2%

Jun 2023—

Sep 202312%

Dec 20233,325%

Mar 2024-54%

Jun 202412%

Sep 202436%

Dec 2024-35%

Mar 2025120%

Jun 202574%

Sep 20258.3%

Dec 2025196%

Mar 202610%

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202229%

Sep 202211%

Dec 2022-3.4%

Mar 202316%

Jun 2023-16%

Sep 20234.5%

Dec 202379%

Mar 202419%

Jun 202424%

Sep 2024-12%

Dec 20248.3%

Mar 202522%

Jun 20258.3%

Sep 202513%

Dec 2025-2.0%

Mar 202611%

Jun 2026—

Entergy Corporation · ETR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20223.7%

Dec 2022-60%

Mar 202311%

Jun 2023139%

Sep 202321%

Dec 2023908%

Mar 2024-75%

Jun 2024-87%

Sep 2024-3.6%

Dec 2024-71%

Mar 2025370%

Jun 2025808%

Sep 20258.1%

Dec 2025-16%

Mar 20268.0%

Jun 2026—

Exelon Corporation · EXC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202243%

Sep 202248%

Dec 202240%

Mar 202339%

Jun 2023-26%

Sep 20233.6%

Dec 202343%

Mar 2024-1.6%

Jun 202431%

Sep 20241.0%

Dec 20244.9%

Mar 202538%

Jun 2025-13%

Sep 202524%

Dec 2025-8.2%

Mar 20261.2%

Jun 2026—

National Grid plc · NGG

Sep 2021-24%

Dec 2021—

Mar 2022123%

Jun 2022—

Sep 2022224%

Dec 2022—

Mar 2023-17%

Jun 2023—

Sep 2023-13%

Dec 2023—

Mar 2024-23%

Jun 2024—

Sep 2024-46%

Dec 2024—

Mar 202596%

Jun 2025—

Sep 20258.0%

Dec 2025—

Mar 202616%

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20221,446%

Sep 2022413%

Dec 202233%

Mar 2023—

Jun 2023130%

Sep 2023-35%

Dec 2023-28%

Mar 20248.5%

Jun 2024-49%

Sep 202456%

Dec 2024-4.6%

Mar 2025-76%

Jun 202526%

Sep 202534%

Dec 202525%

Mar 2026264%

Jun 2026—

PG&E Corporation · PCG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-10%

Sep 2022—

Dec 20228.6%

Mar 202320%

Jun 202314%

Sep 2023-8.5%

Dec 202341%

Mar 202429%

Jun 202428%

Sep 202438%

Dec 2024-7.7%

Mar 2025-5.4%

Jun 20254.8%

Sep 202547%

Dec 2025-0.6%

Mar 202637%

Jun 2026—

Public Service Enterprise Group Incorporated · PEG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 202277%

Mar 2023—

Jun 2023351%

Sep 202322%

Dec 2023-13%

Mar 2024-59%

Jun 2024-27%

Sep 2024274%

Dec 2024-58%

Mar 202511%

Jun 202535%

Sep 202520%

Dec 202510%

Mar 202626%

Jun 2026—

The Southern Company · SO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022198%

Sep 202234%

Dec 2022—

Mar 2023-16%

Jun 2023-24%

Sep 2023-3.4%

Dec 2023—

Mar 202431%

Jun 202444%

Sep 20248.0%

Dec 2024-38%

Mar 202518%

Jun 2025-27%

Sep 202511%

Dec 2025-22%

Mar 20261.7%

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20225.5%

Sep 20226.6%

Dec 202220%

Mar 202310%

Jun 2023-12%

Sep 20231.1%

Dec 20237.9%

Mar 202417%

Jun 20244.9%

Sep 20244.0%

Dec 202413%

Mar 2025-1.0%

Jun 202547%

Sep 2025-23%

Dec 202522%

Mar 202615%

Jun 2026—

04 · compare level, then change

Capacity Spending & Returns On It

National Grid plc has the highest CAPEX among the 29 Utilities - Regulated Electric companies compared here, at $5,545 million. Duke Energy Corporation is next at $4,088 million. IDACORP, Inc. has the highest CAPEX intensity at 92.3%, so level and change sit with different companies. 29 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: National Grid plc reports $5,545 million of CAPEX; IDACORP, Inc. has the highest covered intensity at 92.3%. Coverage is only 29 of 29 companies and 536 reported observations, so this is partial evidence—not a complete sector rank.

LeaderNational Grid plc · $5,545 million

Gap35.6% versus #2 · Duke Energy Corporation

Persistence8/8 recent comparable periods

Coverage29/29 companies · 536 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1National Grid plc NGG$5.5B

2Duke Energy Corporation DUK$4.1B

3NextEra Energy, Inc. NEE$3.1B

4Dominion Energy, Inc. D$3.0B

5Xcel Energy Inc. XEL$3.0B

CAPEX intensityhighest reinvestment intensity

1IDACORP, Inc. IDA92%

2Xcel Energy Inc. XEL75%

3Ameren Corporation AEE72%

4Entergy Corporation ETR71%

5Dominion Energy, Inc. D60%

Capital expenditure · company comparison

29/29 level · 29/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
National Grid plc NGG	$5.5B	52%	Mar 2026
Duke Energy Corporation DUK	$4.1B	45%	Mar 2026
NextEra Energy, Inc. NEE	$3.1B	46%	Mar 2026
Dominion Energy, Inc. D	$3.0B	60%	Mar 2026
Xcel Energy Inc. XEL	$3.0B	75%	Mar 2026
PG&E Corporation PCG	$3.0B	49%	Jun 2026
The Southern Company SO	$2.9B	35%	Mar 2026
American Electric Power Company, Inc. AEP	$2.8B	47%	Mar 2026
Exelon Corporation EXC	$2.4B	33%	Mar 2026
Entergy Corporation ETR	$2.3B	71%	Mar 2026
Ameren Corporation AEE	$1.6B	72%	Mar 2026
Edison International EIX	$1.5B	38%	Mar 2026
Fortis Inc. FTS	$1.5B	44%	Mar 2026
FirstEnergy Corp. FE	$1.3B	30%	Mar 2026
DTE Energy Company DTE	$1.2B	24%	Mar 2026
CenterPoint Energy, Inc. CNP	$1.2B	40%	Mar 2026
Consolidated Edison, Inc. ED	$1.2B	23%	Mar 2026
PPL Corporation PPL	$1.1B	38%	Mar 2026
CMS Energy Corporation CMS	$1.0B	38%	Mar 2026
Eversource Energy ES	$1.0B	22%	Mar 2026
Emera Incorporated EMA	$879M	31%	Mar 2026
Evergy, Inc. EVRG	$852M	59%	Mar 2026
WEC Energy Group, Inc. WEC	$818M	24%	Mar 2026
Public Service Enterprise Group Incorporated PEG	$693M	18%	Mar 2026
Pinnacle West Capital Corporation PNW	$628M	55%	Mar 2026
Companhia Paranaense de Energia - COPEL ELPC	$571M	8.1%	Mar 2026
Alliant Energy Corporation LNT	$414M	35%	Mar 2026
IDACORP, Inc. IDA	$372M	92%	Mar 2026
OGE Energy Corp. OGE	$283M	38%	Mar 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021$1.3B

Dec 2021$1.6B

Mar 2022$1.7B

Jun 2022$1.5B

Sep 2022$1.6B

Dec 2022$1.9B

Mar 2023$2.1B

Jun 2023$2.0B

Sep 2023$1.7B

Dec 2023$1.7B

Mar 2024$1.8B

Jun 2024$1.6B

Sep 2024$1.9B

Dec 2024$2.5B

Mar 2025$2.1B

Jun 2025$1.9B

Sep 2025$2.0B

Dec 2025$2.5B

Mar 2026$2.8B

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021$975M

Dec 2021$967M

Mar 2022$862M

Jun 2022$1.1B

Sep 2022$1.1B

Dec 2022$1.1B

Mar 2023$1.2B

Jun 2023$1.0B

Sep 2023$1.0B

Dec 2023$1.3B

Mar 2024$1.2B

Jun 2024$1.2B

Sep 2024$1.1B

Dec 2024$1.2B

Mar 2025$1.2B

Jun 2025$1.3B

Sep 2025$1.0B

Dec 2025$1.3B

Mar 2026$1.2B

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021$1.5B

Dec 2021$1.8B

Mar 2022$1.6B

Jun 2022$1.6B

Sep 2022$2.0B

Dec 2022$2.3B

Mar 2023$2.2B

Jun 2023$2.6B

Sep 2023$2.3B

Dec 2023$3.0B

Mar 2024$2.8B

Jun 2024$3.0B

Sep 2024$3.0B

Dec 2024$3.5B

Mar 2025$3.2B

Jun 2025$3.0B

Sep 2025$3.0B

Dec 2025$3.4B

Mar 2026$3.0B

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021$2.5B

Dec 2021$2.6B

Mar 2022$2.6B

Jun 2022$2.6B

Sep 2022$3.0B

Dec 2022$3.2B

Mar 2023$3.1B

Jun 2023$3.1B

Sep 2023$3.0B

Dec 2023$3.3B

Mar 2024$3.2B

Jun 2024$3.0B

Sep 2024$3.0B

Dec 2024$3.1B

Mar 2025$3.1B

Jun 2025$3.3B

Sep 2025$3.5B

Dec 2025$4.1B

Mar 2026$4.1B

Jun 2026—

Entergy Corporation · ETR

Sep 2021$1.0B

Dec 2021$2.3B

Mar 2022$1.5B

Jun 2022$1.2B

Sep 2022$1.1B

Dec 2022$1.2B

Mar 2023$1.2B

Jun 2023$1.2B

Sep 2023$1.1B

Dec 2023$1.1B

Mar 2024$1.1B

Jun 2024$1.2B

Sep 2024$1.5B

Dec 2024$1.9B

Mar 2025$1.7B

Jun 2025$2.0B

Sep 2025$1.9B

Dec 2025$2.1B

Mar 2026$2.3B

Jun 2026—

Exelon Corporation · EXC

Sep 2021$1.9B

Dec 2021$2.0B

Mar 2022$1.9B

Jun 2022$1.6B

Sep 2022$1.7B

Dec 2022$2.0B

Mar 2023$1.9B

Jun 2023$1.8B

Sep 2023$1.9B

Dec 2023$1.9B

Mar 2024$1.8B

Jun 2024$1.7B

Sep 2024$1.7B

Dec 2024$1.9B

Mar 2025$1.9B

Jun 2025$2.0B

Sep 2025$2.1B

Dec 2025$2.4B

Mar 2026$2.4B

Jun 2026—

National Grid plc · NGG

Sep 2021$2.3B

Dec 2021—

Mar 2022$2.8B

Jun 2022—

Sep 2022$3.3B

Dec 2022—

Mar 2023$3.1B

Jun 2023—

Sep 2023$3.2B

Dec 2023—

Mar 2024$3.7B

Jun 2024—

Sep 2024$4.0B

Dec 2024—

Mar 2025$4.8B

Jun 2025—

Sep 2025$4.4B

Dec 2025—

Mar 2026$5.5B

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021$1.7B

Dec 2021$2.6B

Mar 2022$2.3B

Jun 2022$2.2B

Sep 2022$2.0B

Dec 2022$3.0B

Mar 2023$2.2B

Jun 2023$2.4B

Sep 2023$2.6B

Dec 2023$2.0B

Mar 2024$2.3B

Jun 2024$2.0B

Sep 2024$2.0B

Dec 2024$1.8B

Mar 2025$2.3B

Jun 2025$1.9B

Sep 2025$2.5B

Dec 2025$2.0B

Mar 2026$3.1B

Jun 2026—

PG&E Corporation · PCG

Sep 2021$1.8B

Dec 2021$2.2B

Mar 2022$2.3B

Jun 2022$2.2B

Sep 2022$2.9B

Dec 2022$2.2B

Mar 2023$2.3B

Jun 2023$2.4B

Sep 2023$2.4B

Dec 2023$2.6B

Mar 2024$2.6B

Jun 2024$2.3B

Sep 2024$2.6B

Dec 2024$2.8B

Mar 2025$2.6B

Jun 2025$3.1B

Sep 2025—

Dec 2025$3.2B

Mar 2026$3.4B

Jun 2026$3.0B

Public Service Enterprise Group Incorporated · PEG

Sep 2021$743M

Dec 2021$673M

Mar 2022$686M

Jun 2022$605M

Sep 2022$797M

Dec 2022$800M

Mar 2023$739M

Jun 2023$705M

Sep 2023$916M

Dec 2023$965M

Mar 2024$797M

Jun 2024$837M

Sep 2024$768M

Dec 2024$978M

Mar 2025$628M

Jun 2025$787M

Sep 2025$728M

Dec 2025$1.1B

Mar 2026$693M

Jun 2026—

The Southern Company · SO

Sep 2021$1.8B

Dec 2021$2.0B

Mar 2022$1.4B

Jun 2022$1.8B

Sep 2022$2.3B

Dec 2022$2.4B

Mar 2023$1.9B

Jun 2023$2.0B

Sep 2023$2.7B

Dec 2023$2.5B

Mar 2024$1.8B

Jun 2024$2.1B

Sep 2024$2.3B

Dec 2024$2.7B

Mar 2025$2.4B

Jun 2025$2.8B

Sep 2025$3.2B

Dec 2025$4.3B

Mar 2026$2.9B

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021$1.1B

Dec 2021$1.2B

Mar 2022$942M

Jun 2022$1.1B

Sep 2022$1.3B

Dec 2022$1.3B

Mar 2023$1.3B

Jun 2023$1.3B

Sep 2023$1.6B

Dec 2023$1.6B

Mar 2024$1.5B

Jun 2024$1.8B

Sep 2024$1.8B

Dec 2024$2.2B

Mar 2025$2.0B

Jun 2025$2.4B

Sep 2025$3.1B

Dec 2025$3.4B

Mar 2026$3.0B

Jun 2026—

CAPEX intensity · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 202128%

Dec 202140%

Mar 202237%

Jun 202232%

Sep 202230%

Dec 202240%

Mar 202345%

Jun 202347%

Sep 202332%

Dec 202337%

Mar 202436%

Jun 202435%

Sep 202435%

Dec 202453%

Mar 202539%

Jun 202538%

Sep 202534%

Dec 202547%

Mar 202647%

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 202127%

Dec 202128%

Mar 202221%

Jun 202231%

Sep 202227%

Dec 202228%

Mar 202327%

Jun 202336%

Sep 202326%

Dec 202337%

Mar 202429%

Jun 202436%

Sep 202428%

Dec 202434%

Mar 202524%

Jun 202535%

Sep 202523%

Dec 202533%

Mar 202623%

Jun 2026—

Dominion Energy, Inc. · D

Sep 202147%

Dec 202147%

Mar 202238%

Jun 202244%

Sep 202251%

Dec 202262%

Mar 202357%

Jun 202383%

Sep 202361%

Dec 202386%

Mar 202476%

Jun 202485%

Sep 202476%

Dec 2024102%

Mar 202579%

Jun 202579%

Sep 202567%

Dec 202583%

Mar 202660%

Jun 2026—

Duke Energy Corporation · DUK

Sep 202135%

Dec 202146%

Mar 202236%

Jun 202239%

Sep 202239%

Dec 202244%

Mar 202343%

Jun 202347%

Sep 202338%

Dec 202346%

Mar 202442%

Jun 202442%

Sep 202437%

Dec 202442%

Mar 202538%

Jun 202544%

Sep 202540%

Dec 202552%

Mar 202645%

Jun 2026—

Entergy Corporation · ETR

Sep 202131%

Dec 202184%

Mar 202252%

Jun 202236%

Sep 202227%

Dec 202237%

Mar 202339%

Jun 202341%

Sep 202330%

Dec 202339%

Mar 202441%

Jun 202439%

Sep 202445%

Dec 202468%

Mar 202558%

Jun 202560%

Sep 202550%

Dec 202572%

Mar 202671%

Jun 2026—

Exelon Corporation · EXC

Sep 202140%

Dec 202146%

Mar 202236%

Jun 202237%

Sep 202235%

Dec 202242%

Mar 202334%

Jun 202337%

Sep 202331%

Dec 202335%

Mar 202429%

Jun 202432%

Sep 202428%

Dec 202435%

Mar 202529%

Jun 202537%

Sep 202532%

Dec 202545%

Mar 202633%

Jun 2026—

National Grid plc · NGG

Sep 202133%

Dec 2021—

Mar 202224%

Jun 2022—

Sep 202235%

Dec 2022—

Mar 202325%

Jun 2023—

Sep 202338%

Dec 2023—

Mar 202433%

Jun 2024—

Sep 202450%

Dec 2024—

Mar 202546%

Jun 2025—

Sep 202563%

Dec 2025—

Mar 202652%

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 202140%

Dec 202151%

Mar 202279%

Jun 202242%

Sep 202230%

Dec 202249%

Mar 202334%

Jun 202333%

Sep 202337%

Dec 202330%

Mar 202441%

Jun 202434%

Sep 202426%

Dec 202433%

Mar 202538%

Jun 202529%

Sep 202531%

Dec 202531%

Mar 202646%

Jun 2026—

PG&E Corporation · PCG

Sep 202134%

Dec 202142%

Mar 202240%

Jun 202244%

Sep 202253%

Dec 202241%

Mar 202337%

Jun 202345%

Sep 202341%

Dec 202337%

Mar 202445%

Jun 202438%

Sep 202444%

Dec 202443%

Mar 202544%

Jun 202552%

Sep 2025—

Dec 202546%

Mar 202649%

Jun 2026—

Public Service Enterprise Group Incorporated · PEG

Sep 202139%

Dec 202122%

Mar 202230%

Jun 202229%

Sep 202235%

Dec 202226%

Mar 202320%

Jun 202329%

Sep 202337%

Dec 202337%

Mar 202429%

Jun 202435%

Sep 202429%

Dec 202440%

Mar 202520%

Jun 202528%

Sep 202523%

Dec 202539%

Mar 202618%

Jun 2026—

The Southern Company · SO

Sep 202130%

Dec 202135%

Mar 202221%

Jun 202225%

Sep 202227%

Dec 202234%

Mar 202329%

Jun 202336%

Sep 202338%

Dec 202342%

Mar 202427%

Jun 202433%

Sep 202432%

Dec 202443%

Mar 202531%

Jun 202540%

Sep 202541%

Dec 202561%

Mar 202635%

Jun 2026—

Xcel Energy Inc. · XEL

Sep 202131%

Dec 202136%

Mar 202225%

Jun 202232%

Sep 202232%

Dec 202232%

Mar 202331%

Jun 202344%

Sep 202345%

Dec 202347%

Mar 202442%

Jun 202461%

Sep 202449%

Dec 202471%

Mar 202551%

Jun 202574%

Sep 202578%

Dec 202597%

Mar 202675%

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Dec 2016—

Dec 2020—

Dec 2021$3.8B

Dec 2022$5.3B

Dec 2023$5.0B

Dec 2024$6.8B

Dec 2025$6.9B

Consolidated Edison, Inc. · ED

Dec 2016—

Dec 2020—

Dec 2021$2.7B

Dec 2022$3.9B

Dec 2023$2.2B

Dec 2024$3.6B

Dec 2025$4.8B

Dominion Energy, Inc. · D

Dec 2016—

Dec 2020—

Dec 2021$4.0B

Dec 2022$3.7B

Dec 2023$6.6B

Dec 2024$5.0B

Dec 2025$5.4B

Duke Energy Corporation · DUK

Dec 2016—

Dec 2020—

Dec 2021$8.3B

Dec 2022$5.9B

Dec 2023$9.9B

Dec 2024$12.3B

Dec 2025$12.3B

Entergy Corporation · ETR

Dec 2016—

Dec 2020—

Dec 2021$2.3B

Dec 2022$2.6B

Dec 2023$4.3B

Dec 2024$4.5B

Dec 2025$5.2B

Exelon Corporation · EXC

Dec 2016—

Dec 2020—

Dec 2021$3.0B

Dec 2022$4.9B

Dec 2023$4.7B

Dec 2024$5.6B

Dec 2025$6.3B

National Grid plc · NGG

Dec 2016—

Dec 2020—

Dec 2021$5.5B

Dec 2022$6.3B

Dec 2023$6.9B

Dec 2024$6.8B

Dec 2025$7.8B

NextEra Energy, Inc. · NEE

Dec 2016—

Dec 2020—

Dec 2021$7.6B

Dec 2022$8.3B

Dec 2023$11.3B

Dec 2024$13.3B

Dec 2025$12.5B

PG&E Corporation · PCG

Dec 2016—

Dec 2020—

Dec 2021$2.3B

Dec 2022$3.7B

Dec 2023$4.7B

Dec 2024$8.0B

Dec 2025$8.7B

Public Service Enterprise Group Incorporated · PEG

Dec 2016—

Dec 2020—

Dec 2021$1.7B

Dec 2022$1.5B

Dec 2023$3.8B

Dec 2024$2.1B

Dec 2025$3.3B

The Southern Company · SO

Dec 2016—

Dec 2020—

Dec 2021$6.2B

Dec 2022$6.3B

Dec 2023$7.6B

Dec 2024$9.8B

Dec 2025$9.8B

Xcel Energy Inc. · XEL

Dec 2016—

Dec 2020—

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Dec 2016—

Dec 2020—

Dec 2021$-1.9B

Dec 2022$-1.5B

Dec 2023$-2.5B

Dec 2024$-967M

Dec 2025$-1.6B

Consolidated Edison, Inc. · ED

Dec 2016—

Dec 2020—

Dec 2021$-1.2B

Dec 2022$-233M

Dec 2023$-2.3B

Dec 2024$-1.2B

Dec 2025$36M

Dominion Energy, Inc. · D

Dec 2016—

Dec 2020—

Dec 2021$-1.9B

Dec 2022$-3.9B

Dec 2023$-3.6B

Dec 2024$-7.2B

Dec 2025$-7.3B

Duke Energy Corporation · DUK

Dec 2016—

Dec 2020—

Dec 2021$-1.4B

Dec 2022$-5.4B

Dec 2023$-2.7B

Dec 2024$48M

Dec 2025$-1.7B

Entergy Corporation · ETR

Dec 2016—

Dec 2020—

Dec 2021$-4.0B

Dec 2022$-2.6B

Dec 2023$-181M

Dec 2024$-1.2B

Dec 2025$-2.5B

Exelon Corporation · EXC

Dec 2016—

Dec 2020—

Dec 2021$-5.0B

Dec 2022$-2.3B

Dec 2023$-2.7B

Dec 2024$-1.5B

Dec 2025$-2.3B

National Grid plc · NGG

Dec 2016—

Dec 2020—

Dec 2021$392M

Dec 2022$18M

Dec 2023$35M

Dec 2024$-2.0B

Dec 2025$-2.2B

NextEra Energy, Inc. · NEE

Dec 2016—

Dec 2020—

Dec 2021$-2M

Dec 2022$-1.3B

Dec 2023$1.9B

Dec 2024$5.1B

Dec 2025$3.8B

PG&E Corporation · PCG

Dec 2016—

Dec 2020—

Dec 2021$-5.4B

Dec 2022$-5.9B

Dec 2023$-5.0B

Dec 2024$-2.3B

Dec 2025$-3.1B

Public Service Enterprise Group Incorporated · PEG

Dec 2016—

Dec 2020—

Dec 2021$-983M

Dec 2022$-1.4B

Dec 2023$481M

Dec 2024$-1.2B

Dec 2025$26M

The Southern Company · SO

Dec 2016—

Dec 2020—

Dec 2021$-1.4B

Dec 2022$-1.6B

Dec 2023$-1.5B

Dec 2024$833M

Dec 2025$-2.9B

Xcel Energy Inc. · XEL

Dec 2016—

Dec 2020—

Dec 2021$-2.1B

Dec 2022$-706M

Dec 2023$-527M

Dec 2024$-2.7B

Dec 2025$-6.8B

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

IDACORP, Inc. has the lowest Gross debt among the 29 Utilities - Regulated Electric companies compared here, at $4,009 million. Companhia Paranaense de Energia - COPEL is next at $5,774 million. Companhia Paranaense de Energia - COPEL has the lowest Net debt at $598 million, so level and change sit with different companies.

What the numbers say: Companhia Paranaense de Energia - COPEL has the clearest covered balance-sheet capacity with $598 million and gross debt of $5,774 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderIDACORP, Inc. · $4,009 million

Gap30.6% versus #2 · Companhia Paranaense de Energia - COPEL

Persistence0/8 recent comparable periods

Coverage28/29 companies · 527 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1IDACORP, Inc. IDA$4.0B

2Companhia Paranaense de Energia - COPEL ELPC$5.8B

3OGE Energy Corp. OGE$5.9B

4Alliant Energy Corporation LNT$11.8B

5Pinnacle West Capital Corporation PNW$15.0B

Net debtlowest net debt

1Companhia Paranaense de Energia - COPEL ELPC$598M

2IDACORP, Inc. IDA$3.7B

3OGE Energy Corp. OGE$5.9B

4Alliant Energy Corporation LNT$11.7B

5Pinnacle West Capital Corporation PNW$15.0B

Debt and balance-sheet capacity · company comparison

28/29 level · 28/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
NextEra Energy, Inc. NEE	$104.4B	$102.4B	Mar 2026
Duke Energy Corporation DUK	$91.2B	$89.1B	Mar 2026
The Southern Company SO	$76.0B	$75.0B	Mar 2026
PG&E Corporation PCG	$64.7B	$63.7B	Jun 2026
American Electric Power Company, Inc. AEP	$51.8B	$51.2B	Mar 2026
Dominion Energy, Inc. D	$51.8B	$51.4B	Mar 2026
Exelon Corporation EXC	$51.2B	$50.0B	Mar 2026
Edison International EIX	$42.7B	$42.5B	Mar 2026
Xcel Energy Inc. XEL	$39.2B	$37.4B	Mar 2026
Fortis Inc. FTS	$35.4B	$35.1B	Mar 2026
Entergy Corporation ETR	$34.1B	$30.5B	Mar 2026
Eversource Energy ES	$30.3B	$30.1B	Mar 2026
FirstEnergy Corp. FE	$28.1B	$28.0B	Mar 2026
Consolidated Edison, Inc. ED	$27.2B	$27.0B	Mar 2026
DTE Energy Company DTE	$27.0B	$26.7B	Mar 2026
CenterPoint Energy, Inc. CNP	$25.3B	$24.1B	Mar 2026
Public Service Enterprise Group Incorporated PEG	$24.4B	$24.0B	Mar 2026
Emera Incorporated EMA	$24.0B	$21.5B	Mar 2026
WEC Energy Group, Inc. WEC	$22.3B	$22.3B	Mar 2026
Ameren Corporation AEE	$21.3B	$21.3B	Mar 2026
PPL Corporation PPL	$20.2B	$19.0B	Mar 2026
CMS Energy Corporation CMS	$19.1B	$18.8B	Mar 2026
Evergy, Inc. EVRG	$15.9B	$15.9B	Mar 2026
Pinnacle West Capital Corporation PNW	$15.0B	$15.0B	Mar 2026
Alliant Energy Corporation LNT	$11.8B	$11.7B	Mar 2026
OGE Energy Corp. OGE	$5.9B	$5.9B	Mar 2026
Companhia Paranaense de Energia - COPEL ELPC	$5.8B	$598M	Mar 2026
IDACORP, Inc. IDA	$4.0B	$3.7B	Mar 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021$37.9B

Dec 2021$36.7B

Mar 2022$37.9B

Jun 2022$38.2B

Sep 2022$38.4B

Dec 2022$41.6B

Mar 2023$43.4B

Jun 2023$44.7B

Sep 2023$42.9B

Dec 2023$43.6B

Mar 2024$44.2B

Jun 2024$44.3B

Sep 2024$44.2B

Dec 2024$45.8B

Mar 2025$46.9B

Jun 2025$46.6B

Sep 2025$47.9B

Dec 2025$49.5B

Mar 2026$51.8B

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021$24.2B

Dec 2021$25.4B

Mar 2022$25.2B

Jun 2022$26.2B

Sep 2022$26.1B

Dec 2022$24.4B

Mar 2023$22.3B

Jun 2023$23.8B

Sep 2023$23.8B

Dec 2023$25.0B

Mar 2024$25.0B

Jun 2024$26.6B

Sep 2024$26.3B

Dec 2024$27.8B

Mar 2025$26.2B

Jun 2025$27.1B

Sep 2025$26.7B

Dec 2025$28.4B

Mar 2026$27.2B

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021$41.5B

Dec 2021$40.6B

Mar 2022$41.8B

Jun 2022$43.9B

Sep 2022$44.0B

Dec 2022$41.3B

Mar 2023$48.1B

Jun 2023$48.6B

Sep 2023$41.9B

Dec 2023$44.2B

Mar 2024$41.5B

Jun 2024$41.6B

Sep 2024$43.0B

Dec 2024$41.8B

Mar 2025$46.3B

Jun 2025$46.4B

Sep 2025$48.5B

Dec 2025$48.9B

Mar 2026$51.8B

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021$66.0B

Dec 2021$68.1B

Mar 2022$70.4B

Jun 2022$71.2B

Sep 2022$73.9B

Dec 2022$74.6B

Mar 2023$77.0B

Jun 2023$78.6B

Sep 2023$79.4B

Dec 2023$80.5B

Mar 2024$82.3B

Jun 2024$83.4B

Sep 2024$85.0B

Dec 2024$85.2B

Mar 2025$87.5B

Jun 2025$88.5B

Sep 2025$89.6B

Dec 2025$90.9B

Mar 2026$91.2B

Jun 2026—

Entergy Corporation · ETR

Sep 2021$25.6B

Dec 2021$27.1B

Mar 2022$28.6B

Jun 2022$26.9B

Sep 2022$27.6B

Dec 2022$26.8B

Mar 2023$27.6B

Jun 2023$27.3B

Sep 2023$27.5B

Dec 2023$26.2B

Mar 2024$28.4B

Jun 2024$28.8B

Sep 2024$29.0B

Dec 2024$28.9B

Mar 2025$30.9B

Jun 2025$30.4B

Sep 2025$30.4B

Dec 2025$30.9B

Mar 2026$34.1B

Jun 2026—

Exelon Corporation · EXC

Sep 2021$41.7B

Dec 2021$34.5B

Mar 2022$39.5B

Jun 2022$38.7B

Sep 2022$38.7B

Dec 2022$40.1B

Mar 2023$41.8B

Jun 2023$42.6B

Sep 2023$43.2B

Dec 2023$44.0B

Mar 2024$45.4B

Jun 2024$46.2B

Sep 2024$46.1B

Dec 2024$46.6B

Mar 2025$48.3B

Jun 2025$48.8B

Sep 2025$49.9B

Dec 2025$50.1B

Mar 2026$51.2B

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021$55.3B

Dec 2021$54.8B

Mar 2022$59.7B

Jun 2022$63.6B

Sep 2022$64.8B

Dec 2022$65.0B

Mar 2023$70.6B

Jun 2023$72.2B

Sep 2023$73.3B

Dec 2023$73.2B

Mar 2024$79.9B

Jun 2024$82.6B

Sep 2024$82.8B

Dec 2024$82.3B

Mar 2025$89.7B

Jun 2025$93.2B

Sep 2025$93.1B

Dec 2025$95.6B

Mar 2026$104.4B

Jun 2026—

PG&E Corporation · PCG

Sep 2021$44.3B

Dec 2021$46.2B

Mar 2022$46.7B

Jun 2022$49.7B

Sep 2022$52.0B

Dec 2022$53.5B

Mar 2023$55.2B

Jun 2023$55.7B

Sep 2023$56.0B

Dec 2023$57.7B

Mar 2024$58.6B

Jun 2024$60.6B

Sep 2024$54.9B

Dec 2024$58.3B

Mar 2025$60.0B

Jun 2025$59.7B

Sep 2025$59.8B

Dec 2025$61.3B

Mar 2026$56.3B

Jun 2026$64.7B

Public Service Enterprise Group Incorporated · PEG

Sep 2021$20.0B

Dec 2021$19.6B

Mar 2022$19.5B

Jun 2022$21.2B

Sep 2022$20.1B

Dec 2022$20.4B

Mar 2023$20.4B

Jun 2023$19.8B

Sep 2023$19.9B

Dec 2023$20.4B

Mar 2024$22.0B

Jun 2024$21.6B

Sep 2024$22.1B

Dec 2024$22.9B

Mar 2025$23.5B

Jun 2025$23.4B

Sep 2025$23.5B

Dec 2025$24.2B

Mar 2026$24.4B

Jun 2026—

The Southern Company · SO

Sep 2021$54.6B

Dec 2021$55.5B

Mar 2022$55.9B

Jun 2022$56.5B

Sep 2022$56.7B

Dec 2022$59.1B

Mar 2023$60.6B

Jun 2023$62.4B

Sep 2023$62.3B

Dec 2023$63.5B

Mar 2024$65.2B

Jun 2024$65.5B

Sep 2024$65.1B

Dec 2024$66.3B

Mar 2025$70.1B

Jun 2025$70.8B

Sep 2025$73.7B

Dec 2025$74.1B

Mar 2026$76.0B

Jun 2026—

WEC Energy Group, Inc. · WEC

Sep 2021$14.7B

Dec 2021$15.6B

Mar 2022$15.1B

Jun 2022$15.3B

Sep 2022$16.3B

Dec 2022$17.3B

Mar 2023$17.9B

Jun 2023$18.1B

Sep 2023$18.2B

Dec 2023$18.8B

Mar 2024$18.6B

Jun 2024$18.8B

Sep 2024$19.3B

Dec 2024$20.3B

Mar 2025$20.5B

Jun 2025$20.5B

Sep 2025$21.2B

Dec 2025$22.3B

Mar 2026$22.3B

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021$24.8B

Dec 2021$24.7B

Mar 2022$24.7B

Jun 2022$25.2B

Sep 2022$25.3B

Dec 2022$26.0B

Mar 2023$26.0B

Jun 2023$26.8B

Sep 2023$27.1B

Dec 2023$27.5B

Mar 2024$28.6B

Jun 2024$30.6B

Sep 2024$29.8B

Dec 2024$30.3B

Mar 2025$32.3B

Jun 2025$33.3B

Sep 2025$35.5B

Dec 2025$36.0B

Mar 2026$39.2B

Jun 2026—

Net debt · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021$36.3B

Dec 2021$36.0B

Mar 2022$37.0B

Jun 2022$37.4B

Sep 2022$37.6B

Dec 2022$40.8B

Mar 2023$42.8B

Jun 2023$44.1B

Sep 2023$42.2B

Dec 2023$43.0B

Mar 2024$43.7B

Jun 2024$43.9B

Sep 2024$43.7B

Dec 2024$45.3B

Mar 2025$46.4B

Jun 2025$46.1B

Sep 2025$46.6B

Dec 2025$49.0B

Mar 2026$51.2B

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021$24.1B

Dec 2021$24.4B

Mar 2022$25.1B

Jun 2022$25.1B

Sep 2022$26.0B

Dec 2022$23.1B

Mar 2023$21.5B

Jun 2023$21.9B

Sep 2023$23.2B

Dec 2023$23.8B

Mar 2024$24.9B

Jun 2024$25.1B

Sep 2024$26.2B

Dec 2024$26.5B

Mar 2025$25.9B

Jun 2025$25.6B

Sep 2025$26.5B

Dec 2025$26.7B

Mar 2026$27.0B

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021$41.3B

Dec 2021$40.3B

Mar 2022$41.3B

Jun 2022$43.6B

Sep 2022$43.8B

Dec 2022$41.2B

Mar 2023$46.3B

Jun 2023$48.5B

Sep 2023$41.8B

Dec 2023$44.1B

Mar 2024$41.2B

Jun 2024$41.4B

Sep 2024$41.2B

Dec 2024$41.4B

Mar 2025$46.0B

Jun 2025$46.0B

Sep 2025$47.6B

Dec 2025$48.7B

Mar 2026$51.4B

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021$65.4B

Dec 2021$67.7B

Mar 2022$69.6B

Jun 2022$70.8B

Sep 2022$73.5B

Dec 2022$74.2B

Mar 2023$76.6B

Jun 2023$78.2B

Sep 2023$79.1B

Dec 2023$80.2B

Mar 2024$81.9B

Jun 2024$83.0B

Sep 2024$84.6B

Dec 2024$84.9B

Mar 2025$87.0B

Jun 2025$88.1B

Sep 2025$89.0B

Dec 2025$90.6B

Mar 2026$89.1B

Jun 2026—

Entergy Corporation · ETR

Sep 2021$24.6B

Dec 2021$26.6B

Mar 2022$27.9B

Jun 2022$26.3B

Sep 2022$26.6B

Dec 2022$26.5B

Mar 2023$25.6B

Jun 2023$26.1B

Sep 2023$26.0B

Dec 2023$26.1B

Mar 2024$27.1B

Jun 2024$27.4B

Sep 2024$27.6B

Dec 2024$28.1B

Mar 2025$29.4B

Jun 2025$29.2B

Sep 2025$28.9B

Dec 2025$29.0B

Mar 2026$30.5B

Jun 2026—

Exelon Corporation · EXC

Sep 2021$38.3B

Dec 2021$33.5B

Mar 2022$36.5B

Jun 2022$36.9B

Sep 2022$37.5B

Dec 2022$39.1B

Mar 2023$40.9B

Jun 2023$41.8B

Sep 2023$42.5B

Dec 2023$43.1B

Mar 2024$44.2B

Jun 2024$44.7B

Sep 2024$44.9B

Dec 2024$45.8B

Mar 2025$46.7B

Jun 2025$47.6B

Sep 2025$47.9B

Dec 2025$48.9B

Mar 2026$50.0B

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021$54.6B

Dec 2021$54.2B

Mar 2022$58.2B

Jun 2022$60.7B

Sep 2022$62.3B

Dec 2022$63.4B

Mar 2023$68.4B

Jun 2023$70.6B

Sep 2023$71.8B

Dec 2023$70.5B

Mar 2024$78.3B

Jun 2024$81.1B

Sep 2024$80.5B

Dec 2024$80.8B

Mar 2025$87.3B

Jun 2025$91.5B

Sep 2025$90.7B

Dec 2025$92.8B

Mar 2026$102.4B

Jun 2026—

PG&E Corporation · PCG

Sep 2021$43.9B

Dec 2021$45.9B

Mar 2022$46.5B

Jun 2022$49.5B

Sep 2022$51.7B

Dec 2022$52.8B

Mar 2023$54.1B

Jun 2023$54.9B

Sep 2023$55.4B

Dec 2023$57.1B

Mar 2024$57.9B

Jun 2024$59.3B

Sep 2024$54.2B

Dec 2024$57.4B

Mar 2025$57.9B

Jun 2025$59.2B

Sep 2025$59.4B

Dec 2025$60.6B

Mar 2026$55.9B

Jun 2026$63.7B

Public Service Enterprise Group Incorporated · PEG

Sep 2021$18.2B

Dec 2021$18.8B

Mar 2022$17.9B

Jun 2022$19.0B

Sep 2022$19.7B

Dec 2022$20.0B

Mar 2023$19.2B

Jun 2023$19.3B

Sep 2023$19.9B

Dec 2023$20.4B

Mar 2024$20.8B

Jun 2024$21.4B

Sep 2024$21.9B

Dec 2024$22.7B

Mar 2025$22.7B

Jun 2025$23.2B

Sep 2025$23.2B

Dec 2025$24.1B

Mar 2026$24.0B

Jun 2026—

The Southern Company · SO

Sep 2021$52.5B

Dec 2021$53.7B

Mar 2022$54.3B

Jun 2022$54.7B

Sep 2022$54.6B

Dec 2022$57.2B

Mar 2023$59.5B

Jun 2023$60.3B

Sep 2023$60.6B

Dec 2023$62.7B

Mar 2024$64.5B

Jun 2024$64.4B

Sep 2024$64.1B

Dec 2024$65.2B

Mar 2025$67.8B

Jun 2025$69.6B

Sep 2025$70.4B

Dec 2025$72.4B

Mar 2026$75.0B

Jun 2026—

WEC Energy Group, Inc. · WEC

Sep 2021$14.7B

Dec 2021$15.6B

Mar 2022$15.1B

Jun 2022$15.3B

Sep 2022$16.3B

Dec 2022$17.3B

Mar 2023$17.9B

Jun 2023$18.0B

Sep 2023$18.2B

Dec 2023$18.8B

Mar 2024$18.6B

Jun 2024$18.6B

Sep 2024$19.0B

Dec 2024$20.3B

Mar 2025$20.4B

Jun 2025$20.5B

Sep 2025$21.1B

Dec 2025$22.3B

Mar 2026$22.3B

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021$24.1B

Dec 2021$24.6B

Mar 2022$24.6B

Jun 2022$24.9B

Sep 2022$25.2B

Dec 2022$25.9B

Mar 2023$25.9B

Jun 2023$26.5B

Sep 2023$26.5B

Dec 2023$27.4B

Mar 2024$28.1B

Jun 2024$29.0B

Sep 2024$28.3B

Dec 2024$30.1B

Mar 2025$31.2B

Jun 2025$31.9B

Sep 2025$34.5B

Dec 2025$35.8B

Mar 2026$37.4B

Jun 2026—

06 · compare level, then change

Return On Capital Employed

Companhia Paranaense de Energia - COPEL has the highest ROCE among the 29 Utilities - Regulated Electric companies compared here, at 2.9%. Emera Incorporated is next at 2.3%. Public Service Enterprise Group Incorporated has the highest ROCE change at +0.5 percentage points, so level and change sit with different companies.

What the numbers say: Companhia Paranaense de Energia - COPEL leads ROCE at 2.9%, 0.6 percentage points above Emera Incorporated. Public Service Enterprise Group Incorporated has the strongest latest improvement at +0.5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderCompanhia Paranaense de Energia - COPEL · 2.9%

Gap26.1% versus #2 · Emera Incorporated

Persistence2/8 recent comparable periods

Coverage29/29 companies · 546 observations

Investor read: Companhia Paranaense de Energia - COPEL sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Companhia Paranaense de Energia - COPEL ELPC2.9%

2Emera Incorporated EMA2.3%

3WEC Energy Group, Inc. WEC2.2%

4Public Service Enterprise Group Incorporated PEG2.1%

5Eversource Energy ES2.0%

ROCE changefastest improvers

1Public Service Enterprise Group Incorporated PEG+0.5 pp

2Pinnacle West Capital Corporation PNW+0.3 pp

3Duke Energy Corporation DUK+0.2 pp

4Eversource Energy ES+0.2 pp

5IDACORP, Inc. IDA+0.2 pp

Return on capital · company comparison

29/29 level · 29/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
Companhia Paranaense de Energia - COPEL ELPC	2.9%	0.0 pp	Mar 2026
Emera Incorporated EMA	2.3%	−0.2 pp	Mar 2026
WEC Energy Group, Inc. WEC	2.2%	−0.1 pp	Mar 2026
Public Service Enterprise Group Incorporated PEG	2.1%	+0.5 pp	Mar 2026
National Grid plc NGG	2.0%	0.0 pp	Mar 2026
Eversource Energy ES	2.0%	+0.2 pp	Mar 2026
PPL Corporation PPL	1.9%	+0.1 pp	Mar 2026
Consolidated Edison, Inc. ED	1.7%	−0.1 pp	Mar 2026
FirstEnergy Corp. FE	1.7%	0.0 pp	Mar 2026
Duke Energy Corporation DUK	1.6%	+0.2 pp	Mar 2026
CenterPoint Energy, Inc. CNP	1.6%	−0.1 pp	Mar 2026
The Southern Company SO	1.5%	0.0 pp	Mar 2026
Exelon Corporation EXC	1.5%	−0.1 pp	Mar 2026
American Electric Power Company, Inc. AEP	1.4%	−0.1 pp	Mar 2026
Dominion Energy, Inc. D	1.4%	+0.1 pp	Mar 2026
Fortis Inc. FTS	1.4%	−0.1 pp	Mar 2026
CMS Energy Corporation CMS	1.4%	−0.1 pp	Mar 2026
Edison International EIX	1.3%	−1.4 pp	Mar 2026
NextEra Energy, Inc. NEE	1.2%	−0.2 pp	Mar 2026
Ameren Corporation AEE	1.2%	+0.1 pp	Mar 2026
Alliant Energy Corporation LNT	1.2%	−0.1 pp	Mar 2026
Xcel Energy Inc. XEL	1.1%	0.0 pp	Mar 2026
Evergy, Inc. EVRG	1.1%	+0.1 pp	Mar 2026
PG&E Corporation PCG	1.0%	+0.1 pp	Jun 2026
Entergy Corporation ETR	0.9%	−0.3 pp	Mar 2026
DTE Energy Company DTE	0.9%	−0.5 pp	Mar 2026
OGE Energy Corp. OGE	0.9%	−0.2 pp	Mar 2026
IDACORP, Inc. IDA	0.9%	+0.2 pp	Mar 2026
Pinnacle West Capital Corporation PNW	0.5%	+0.3 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 20211.5%

Dec 20210.9%

Mar 20221.3%

Jun 20221.3%

Sep 20221.2%

Dec 20220.7%

Mar 20230.9%

Jun 20231.1%

Sep 20231.7%

Dec 20230.8%

Mar 20241.4%

Jun 20240.8%

Sep 20241.6%

Dec 20241.3%

Mar 20251.5%

Jun 20251.5%

Sep 20251.6%

Dec 20251.2%

Mar 20261.4%

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 20211.5%

Dec 20211.2%

Mar 20221.4%

Jun 20220.7%

Sep 20221.5%

Dec 20221.0%

Mar 20233.0%

Jun 20230.5%

Sep 20231.2%

Dec 20230.8%

Mar 20241.7%

Jun 20240.5%

Sep 20241.4%

Dec 20240.8%

Mar 20251.8%

Jun 20250.6%

Sep 20251.5%

Dec 20250.7%

Mar 20261.7%

Jun 2026—

Dominion Energy, Inc. · D

Sep 20211.0%

Dec 20211.1%

Mar 20221.1%

Jun 2022-0.4%

Sep 20221.1%

Dec 20220.3%

Mar 20231.2%

Jun 20230.7%

Sep 20231.2%

Dec 20230.8%

Mar 20240.9%

Jun 20240.9%

Sep 20241.4%

Dec 20240.4%

Mar 20251.3%

Jun 20251.2%

Sep 20251.4%

Dec 20250.8%

Mar 20261.4%

Jun 2026—

Duke Energy Corporation · DUK

Sep 20211.1%

Dec 20210.8%

Mar 20220.9%

Jun 20220.9%

Sep 20221.3%

Dec 20220.8%

Mar 20231.1%

Jun 20230.9%

Sep 20231.3%

Dec 20231.2%

Mar 20241.2%

Jun 20241.0%

Sep 20241.3%

Dec 20241.3%

Mar 20251.4%

Jun 20251.1%

Sep 20251.4%

Dec 20251.2%

Mar 20261.6%

Jun 2026—

Entergy Corporation · ETR

Sep 20211.6%

Dec 20210.7%

Mar 20221.0%

Jun 20220.2%

Sep 20221.8%

Dec 20220.9%

Mar 20230.9%

Jun 20231.4%

Sep 20232.1%

Dec 20230.5%

Mar 20240.4%

Jun 20241.1%

Sep 20242.0%

Dec 20241.2%

Mar 20251.2%

Jun 20251.4%

Sep 20251.9%

Dec 20250.9%

Mar 20260.9%

Jun 2026—

Exelon Corporation · EXC

Sep 20210.6%

Dec 20210.4%

Mar 20220.9%

Jun 20220.7%

Sep 20221.0%

Dec 20220.7%

Mar 20231.3%

Jun 20230.8%

Sep 20231.3%

Dec 20231.2%

Mar 20241.2%

Jun 20241.0%

Sep 20241.3%

Dec 20241.2%

Mar 20251.6%

Jun 20250.9%

Sep 20251.5%

Dec 20251.2%

Mar 20261.5%

Jun 2026—

National Grid plc · NGG

Sep 20211.2%

Dec 20212.3%

Mar 20222.3%

Jun 20221.5%

Sep 20221.5%

Dec 20221.7%

Mar 20231.7%

Jun 20231.2%

Sep 20231.2%

Dec 20231.5%

Mar 20241.5%

Jun 20240.7%

Sep 20240.7%

Dec 20242.0%

Mar 20252.0%

Jun 20250.8%

Sep 20250.8%

Dec 20252.0%

Mar 20262.0%

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 20210.3%

Dec 20211.2%

Mar 2022-0.6%

Jun 20220.8%

Sep 20221.5%

Dec 20221.6%

Mar 20232.2%

Jun 20232.1%

Sep 20231.4%

Dec 20231.9%

Mar 20241.4%

Jun 20241.1%

Sep 20241.9%

Dec 20240.6%

Mar 20251.4%

Jun 20251.1%

Sep 20251.5%

Dec 20250.9%

Mar 20261.2%

Jun 2026—

PG&E Corporation · PCG

Sep 20210.4%

Dec 20210.8%

Mar 20220.6%

Jun 20220.5%

Sep 20220.8%

Dec 20220.1%

Mar 20230.7%

Jun 20230.5%

Sep 20230.4%

Dec 20231.1%

Mar 20241.2%

Jun 20241.0%

Sep 20240.9%

Dec 20240.9%

Mar 20251.1%

Jun 20250.9%

Sep 20251.0%

Dec 20251.0%

Mar 20261.2%

Jun 20261.0%

Public Service Enterprise Group Incorporated · PEG

Sep 2021-5.1%

Dec 20212.1%

Mar 2022-0.1%

Jun 20220.7%

Sep 20220.4%

Dec 20222.3%

Mar 20233.8%

Jun 20231.9%

Sep 20231.3%

Dec 20231.6%

Mar 20241.5%

Jun 20241.3%

Sep 20241.4%

Dec 20240.9%

Mar 20251.6%

Jun 20251.7%

Sep 20251.7%

Dec 20251.0%

Mar 20262.1%

Jun 2026—

The Southern Company · SO

Sep 20211.5%

Dec 2021-0.3%

Mar 20221.2%

Jun 20221.4%

Sep 20221.8%

Dec 20220.1%

Mar 20231.0%

Jun 20231.1%

Sep 20231.7%

Dec 20231.0%

Mar 20241.4%

Jun 20241.5%

Sep 20241.8%

Dec 20240.8%

Mar 20251.5%

Jun 20251.3%

Sep 20251.9%

Dec 20250.7%

Mar 20261.5%

Jun 2026—

Xcel Energy Inc. · XEL

Sep 20211.6%

Dec 20210.8%

Mar 20221.0%

Jun 20220.9%

Sep 20221.7%

Dec 20221.0%

Mar 20231.1%

Jun 20230.8%

Sep 20231.6%

Dec 20231.0%

Mar 20241.2%

Jun 20240.8%

Sep 20241.5%

Dec 20240.6%

Mar 20251.1%

Jun 20250.9%

Sep 20251.1%

Dec 20250.8%

Mar 20261.1%

Jun 2026—

ROCE change · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.3 pp

Dec 2022−0.2 pp

Mar 2023−0.4 pp

Jun 2023−0.2 pp

Sep 2023+0.5 pp

Dec 2023+0.1 pp

Mar 2024+0.5 pp

Jun 2024−0.3 pp

Sep 2024−0.1 pp

Dec 2024+0.5 pp

Mar 2025+0.1 pp

Jun 2025+0.7 pp

Sep 20250.0 pp

Dec 2025−0.1 pp

Mar 2026−0.1 pp

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20220.0 pp

Dec 2022−0.2 pp

Mar 2023+1.6 pp

Jun 2023−0.2 pp

Sep 2023−0.3 pp

Dec 2023−0.2 pp

Mar 2024−1.3 pp

Jun 20240.0 pp

Sep 2024+0.2 pp

Dec 20240.0 pp

Mar 2025+0.1 pp

Jun 2025+0.1 pp

Sep 2025+0.1 pp

Dec 2025−0.1 pp

Mar 2026−0.1 pp

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.1 pp

Dec 2022−0.8 pp

Mar 2023+0.1 pp

Jun 2023+1.1 pp

Sep 2023+0.1 pp

Dec 2023+0.5 pp

Mar 2024−0.3 pp

Jun 2024+0.2 pp

Sep 2024+0.2 pp

Dec 2024−0.4 pp

Mar 2025+0.4 pp

Jun 2025+0.3 pp

Sep 20250.0 pp

Dec 2025+0.4 pp

Mar 2026+0.1 pp

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.2 pp

Dec 20220.0 pp

Mar 2023+0.2 pp

Jun 20230.0 pp

Sep 20230.0 pp

Dec 2023+0.4 pp

Mar 2024+0.1 pp

Jun 2024+0.1 pp

Sep 20240.0 pp

Dec 2024+0.1 pp

Mar 2025+0.2 pp

Jun 2025+0.1 pp

Sep 2025+0.1 pp

Dec 2025−0.1 pp

Mar 2026+0.2 pp

Jun 2026—

Entergy Corporation · ETR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.2 pp

Dec 2022+0.2 pp

Mar 2023−0.1 pp

Jun 2023+1.2 pp

Sep 2023+0.3 pp

Dec 2023−0.4 pp

Mar 2024−0.5 pp

Jun 2024−0.3 pp

Sep 2024−0.1 pp

Dec 2024+0.7 pp

Mar 2025+0.8 pp

Jun 2025+0.3 pp

Sep 2025−0.1 pp

Dec 2025−0.3 pp

Mar 2026−0.3 pp

Jun 2026—

Exelon Corporation · EXC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.4 pp

Dec 2022+0.3 pp

Mar 2023+0.4 pp

Jun 2023+0.1 pp

Sep 2023+0.3 pp

Dec 2023+0.5 pp

Mar 2024−0.1 pp

Jun 2024+0.2 pp

Sep 20240.0 pp

Dec 20240.0 pp

Mar 2025+0.4 pp

Jun 2025−0.1 pp

Sep 2025+0.2 pp

Dec 20250.0 pp

Mar 2026−0.1 pp

Jun 2026—

National Grid plc · NGG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.3 pp

Dec 2022−0.6 pp

Mar 2023−0.6 pp

Jun 2023−0.3 pp

Sep 2023−0.3 pp

Dec 2023−0.2 pp

Mar 2024−0.2 pp

Jun 2024−0.5 pp

Sep 2024−0.5 pp

Dec 2024+0.5 pp

Mar 2025+0.5 pp

Jun 2025+0.1 pp

Sep 2025+0.1 pp

Dec 20250.0 pp

Mar 20260.0 pp

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.2 pp

Dec 2022+0.4 pp

Mar 2023+2.8 pp

Jun 2023+1.3 pp

Sep 2023−0.1 pp

Dec 2023+0.3 pp

Mar 2024−0.8 pp

Jun 2024−1.0 pp

Sep 2024+0.5 pp

Dec 2024−1.3 pp

Mar 20250.0 pp

Jun 20250.0 pp

Sep 2025−0.4 pp

Dec 2025+0.3 pp

Mar 2026−0.2 pp

Jun 2026—

PG&E Corporation · PCG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.4 pp

Dec 2022−0.7 pp

Mar 2023+0.1 pp

Jun 20230.0 pp

Sep 2023−0.4 pp

Dec 2023+1.0 pp

Mar 2024+0.5 pp

Jun 2024+0.5 pp

Sep 2024+0.5 pp

Dec 2024−0.2 pp

Mar 2025−0.1 pp

Jun 2025−0.1 pp

Sep 2025+0.1 pp

Dec 2025+0.1 pp

Mar 2026+0.1 pp

Jun 2026+0.1 pp

Public Service Enterprise Group Incorporated · PEG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+5.5 pp

Dec 2022+0.2 pp

Mar 2023+3.9 pp

Jun 2023+1.2 pp

Sep 2023+0.9 pp

Dec 2023−0.7 pp

Mar 2024−2.3 pp

Jun 2024−0.6 pp

Sep 2024+0.1 pp

Dec 2024−0.7 pp

Mar 2025+0.1 pp

Jun 2025+0.4 pp

Sep 2025+0.3 pp

Dec 2025+0.1 pp

Mar 2026+0.5 pp

Jun 2026—

The Southern Company · SO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.3 pp

Dec 2022+0.4 pp

Mar 2023−0.2 pp

Jun 2023−0.3 pp

Sep 2023−0.1 pp

Dec 2023+0.9 pp

Mar 2024+0.4 pp

Jun 2024+0.4 pp

Sep 2024+0.1 pp

Dec 2024−0.2 pp

Mar 2025+0.1 pp

Jun 2025−0.2 pp

Sep 2025+0.1 pp

Dec 2025−0.1 pp

Mar 20260.0 pp

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.1 pp

Dec 2022+0.2 pp

Mar 2023+0.1 pp

Jun 2023−0.1 pp

Sep 2023−0.1 pp

Dec 20230.0 pp

Mar 2024+0.1 pp

Jun 20240.0 pp

Sep 2024−0.1 pp

Dec 2024−0.4 pp

Mar 2025−0.1 pp

Jun 2025+0.1 pp

Sep 2025−0.4 pp

Dec 2025+0.2 pp

Mar 20260.0 pp

Jun 2026—

07 · compare level, then change

Valuation Against Growth & Quality

Edison International has the lowest Guarded PEG among the 29 Utilities - Regulated Electric companies compared here, at 0.26×. FirstEnergy Corp. is next at 0.42×. The same company also holds the lowest P/E, at 7.95×. 27 of 29 companies report a comparable reading, the latest through Mar 2026. Its Guarded PEG series carries 4 reported observations across the 20-quarter window.

What the numbers say: Edison International has the lowest comparable Guarded PEG at 0.26×, 38.1% below FirstEnergy Corp.. Only 27 of 29 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderEdison International · 0.26×

Gap38.1% versus #2 · FirstEnergy Corp.

Persistence0/8 recent comparable periods

Coverage27/29 companies · 157 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1Edison International EIX0.3

2FirstEnergy Corp. FE0.4

3NextEra Energy, Inc. NEE0.5

4Companhia Paranaense de Energia - COPEL ELPC0.5

5Dominion Energy, Inc. D0.7

P/Elowest P/E

1Edison International EIX8.0

2PG&E Corporation PCG12.2

3Eversource Energy ES14.8

4Public Service Enterprise Group Incorporated PEG17.9

5Exelon Corporation EXC18.0

Valuation · company comparison

27/29 level · 29/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
IDACORP, Inc. IDA	3.5	23.8	Mar 2026
OGE Energy Corp. OGE	3.1	21.6	Mar 2026
Fortis Inc. FTS	2.9	22.9	Mar 2026
CMS Energy Corporation CMS	2.9	21.4	Mar 2026
CenterPoint Energy, Inc. CNP	2.8	26.5	Mar 2026
Pinnacle West Capital Corporation PNW	2.8	18.8	Mar 2026
The Southern Company SO	2.8	24.7	Mar 2026
Duke Energy Corporation DUK	2.5	20.1	Mar 2026
Xcel Energy Inc. XEL	2.4	22.9	Mar 2026
Alliant Energy Corporation LNT	2.3	22.5	Mar 2026
Consolidated Edison, Inc. ED	1.9	19.0	Mar 2026
Emera Incorporated EMA	1.8	21.9	Mar 2026
Eversource Energy ES	1.7	14.8	Mar 2026
Evergy, Inc. EVRG	1.4	21.6	Mar 2026
Exelon Corporation EXC	1.4	18.0	Mar 2026
PPL Corporation PPL	1.1	23.3	Mar 2026
Entergy Corporation ETR	1.1	28.7	Mar 2026
DTE Energy Company DTE	0.9	24.1	Mar 2026
Ameren Corporation AEE	0.9	19.8	Mar 2026
American Electric Power Company, Inc. AEP	0.8	25.7	Mar 2026
Public Service Enterprise Group Incorporated PEG	0.8	17.9	Mar 2026
PG&E Corporation PCG	0.7	12.2	Jun 2026
WEC Energy Group, Inc. WEC	0.7	23.1	Mar 2026
Dominion Energy, Inc. D	0.7	18.3	Mar 2026
Companhia Paranaense de Energia - COPEL ELPC	0.5	20.3	Mar 2026
NextEra Energy, Inc. NEE	0.5	23.6	Mar 2026
FirstEnergy Corp. FE	0.4	27.7	Mar 2026
Edison International EIX	0.3	8.0	Mar 2026
National Grid plc NGG	—	19.6	Mar 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.4

Jun 20240.6

Sep 20241.5

Dec 20240.5

Mar 2025—

Jun 20250.4

Sep 20250.4

Dec 20250.9

Mar 20260.8

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.3

Sep 20230.3

Dec 20230.2

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20252.6

Sep 20252.3

Dec 20252.3

Mar 20261.9

Jun 2026—

Dominion Energy, Inc. · D

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20231.2

Sep 2023—

Dec 20230.4

Mar 2024—

Jun 2024—

Sep 20241.8

Dec 2024—

Mar 20250.4

Jun 2025—

Sep 20251.8

Dec 20250.4

Mar 20260.7

Jun 2026—

Duke Energy Corporation · DUK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20230.5

Mar 20240.6

Jun 2024—

Sep 2024—

Dec 20241.3

Mar 20251.3

Jun 20251.5

Sep 20251.2

Dec 20251.8

Mar 20262.5

Jun 2026—

Entergy Corporation · ETR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20231.8

Sep 20231.0

Dec 2023—

Mar 2024—

Jun 20240.5

Sep 20240.9

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20261.1

Jun 2026—

Exelon Corporation · EXC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.4

Jun 20230.7

Sep 20231.3

Dec 20232.2

Mar 2024—

Jun 20241.6

Sep 20242.1

Dec 20242.1

Mar 20250.9

Jun 20251.6

Sep 20250.9

Dec 20251.4

Mar 2026—

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20241.0

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.5

Jun 2026—

PG&E Corporation · PCG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20230.7

Mar 20240.6

Jun 20240.5

Sep 20240.3

Dec 20241.8

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.7

Jun 2026—

Public Service Enterprise Group Incorporated · PEG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20251.1

Sep 2025—

Dec 20251.0

Mar 20260.8

Jun 2026—

The Southern Company · SO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.5

Jun 2023—

Sep 2023—

Dec 20231.8

Mar 20240.8

Jun 20240.4

Sep 20240.4

Dec 20242.0

Mar 20252.8

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

WEC Energy Group, Inc. · WEC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20242.6

Jun 2024—

Sep 2024—

Dec 20241.4

Mar 20251.8

Jun 20251.0

Sep 20250.7

Dec 2025—

Mar 2026—

Jun 2026—

Xcel Energy Inc. · XEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20232.6

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20242.5

Sep 20242.9

Dec 20242.7

Mar 2025—

Jun 20252.4

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 202117.1

Dec 202117.9

Mar 202219.2

Jun 202218.9

Sep 202217.9

Dec 202221.2

Mar 202323.5

Jun 202321.8

Sep 202317.3

Dec 202319.2

Mar 202416.0

Jun 202417.5

Sep 202420.6

Dec 202416.5

Mar 202521.1

Jun 202515.2

Sep 202516.4

Dec 202517.4

Mar 202625.7

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 202121.4

Dec 202122.2

Mar 202221.9

Jun 202220.9

Sep 202217.9

Dec 202220.5

Mar 202313.7

Jun 202313.0

Sep 202312.7

Dec 202312.6

Mar 202417.4

Jun 202417.4

Sep 202419.5

Dec 202417.0

Mar 202520.4

Jun 202518.1

Sep 202517.5

Dec 202517.6

Mar 202619.0

Jun 2026—

Dominion Energy, Inc. · D

Sep 202123.0

Dec 202119.1

Mar 202223.7

Jun 202230.1

Sep 202224.9

Dec 202246.1

Mar 202338.8

Jun 202319.2

Sep 202322.8

Dec 202320.9

Mar 202425.6

Jun 202425.9

Sep 202420.8

Dec 202423.1

Mar 202520.9

Jun 202519.6

Sep 202520.7

Dec 202517.0

Mar 202618.3

Jun 2026—

Duke Energy Corporation · DUK

Sep 202125.2

Dec 202122.4

Mar 202224.9

Jun 202223.0

Sep 202220.0

Dec 202232.5

Mar 202328.9

Jun 202392.5

Sep 2023113.2

Dec 202327.4

Mar 202431.5

Jun 202418.4

Sep 202421.2

Dec 202418.9

Mar 202520.2

Jun 202519.2

Sep 202519.5

Dec 202518.6

Mar 202620.1

Jun 2026—

Entergy Corporation · ETR

Sep 202116.1

Dec 202120.3

Mar 202222.3

Jun 202218.7

Sep 202216.3

Dec 202221.0

Mar 202319.8

Jun 202315.0

Sep 202313.4

Dec 20239.1

Mar 202410.6

Jun 202412.8

Sep 202416.1

Dec 202431.0

Mar 202527.8

Jun 202520.7

Sep 202522.9

Dec 202523.6

Mar 202628.7

Jun 2026—

Exelon Corporation · EXC

Sep 202120.3

Dec 202125.0

Mar 202229.8

Jun 202226.1

Sep 202219.2

Dec 202220.8

Mar 202318.1

Jun 202318.7

Sep 202317.2

Dec 202315.3

Mar 202416.6

Jun 202414.5

Sep 202417.0

Dec 202415.4

Mar 202517.1

Jun 202516.5

Sep 202516.1

Dec 202516.0

Mar 202618.0

Jun 2026—

National Grid plc · NGG

Sep 202120.8

Dec 202119.9

Mar 202218.0

Jun 202214.1

Sep 202210.8

Dec 20227.1

Mar 20235.6

Jun 20235.5

Sep 20235.2

Dec 20238.6

Mar 202418.9

Jun 202417.9

Sep 202424.2

Dec 202418.1

Mar 202516.5

Jun 202517.9

Sep 202518.1

Dec 202518.4

Mar 202619.6

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 202165.4

Dec 202151.6

Mar 2022114.5

Jun 202259.1

Sep 202240.4

Dec 202239.8

Mar 202324.8

Jun 202319.6

Sep 202316.2

Dec 202316.9

Mar 202417.4

Jun 202423.0

Sep 202425.0

Dec 202421.3

Mar 202526.6

Jun 202524.3

Sep 202524.0

Dec 202524.3

Mar 202623.6

Jun 2026—

PG&E Corporation · PCG

Sep 2021—

Dec 2021—

Mar 2022170.6

Jun 2022166.3

Sep 202215.2

Dec 202219.4

Mar 202318.2

Jun 202319.0

Sep 202318.8

Dec 202317.2

Mar 202415.0

Jun 202414.9

Sep 202415.5

Dec 202417.6

Mar 202515.8

Jun 202512.8

Sep 202512.7

Dec 202513.6

Mar 202613.6

Jun 202612.2

Public Service Enterprise Group Incorporated · PEG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202241.4

Dec 202229.7

Mar 202313.5

Jun 202311.3

Sep 202310.1

Dec 202311.9

Mar 202418.5

Jun 202422.3

Sep 202421.9

Dec 202423.9

Mar 202522.5

Jun 202521.3

Sep 202520.1

Dec 202519.0

Mar 202617.9

Jun 2026—

The Southern Company · SO

Sep 202122.1

Dec 202130.6

Mar 202226.8

Jun 202221.0

Sep 202218.3

Dec 202221.9

Mar 202322.5

Jun 202324.9

Sep 202323.5

Dec 202319.4

Mar 202418.6

Jun 202418.5

Sep 202421.0

Dec 202420.6

Mar 202522.1

Jun 202523.7

Sep 202523.6

Dec 202522.2

Mar 202624.7

Jun 2026—

Xcel Energy Inc. · XEL

Sep 202121.4

Dec 202122.9

Mar 202224.1

Jun 202223.5

Sep 202220.9

Dec 202222.1

Mar 202320.9

Jun 202319.7

Sep 202318.1

Dec 202319.3

Mar 202416.1

Jun 202415.9

Sep 202419.4

Dec 202419.6

Mar 202520.8

Jun 202518.9

Sep 202524.6

Dec 202521.6

Mar 202622.9

Jun 2026—

08 · compare level, then change

Enterprise Value & Book Value

Companhia Paranaense de Energia - COPEL has the lowest EV/EBITDA among the 29 Utilities - Regulated Electric companies compared here, at 6.96×. Edison International is next at 7.61×. PG&E Corporation has the lowest P/BV at 1.09×, so level and change sit with different companies. 29 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Companhia Paranaense de Energia - COPEL leads ev/ebitda at 6.96×; PG&E Corporation leads p/bv at 1.09×.

LeaderCompanhia Paranaense de Energia - COPEL · 6.96×

Gap8.5% versus #2 · Edison International

Persistence0/8 recent comparable periods

Coverage29/29 companies · 542 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1Companhia Paranaense de Energia - COPEL ELPC7.0

2Edison International EIX7.6

3Eversource Energy ES10.2

4PG&E Corporation PCG10.4

5Exelon Corporation EXC11.2

P/BVlowest P/BV

1PG&E Corporation PCG1.1

2Emera Incorporated EMA1.6

3Eversource Energy ES1.6

4Fortis Inc. FTS1.6

5National Grid plc NGG1.6

Enterprise and book valuation · company comparison

29/29 level · 29/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
Public Service Enterprise Group Incorporated PEG	28.1	2.3	Mar 2026
DTE Energy Company DTE	21.1	2.5	Mar 2026
FirstEnergy Corp. FE	21.0	2.3	Mar 2026
NextEra Energy, Inc. NEE	19.9	3.5	Mar 2026
IDACORP, Inc. IDA	18.0	2.2	Mar 2026
Alliant Energy Corporation LNT	16.1	2.5	Mar 2026
WEC Energy Group, Inc. WEC	16.0	2.7	Mar 2026
Dominion Energy, Inc. D	15.2	1.9	Mar 2026
Xcel Energy Inc. XEL	15.1	2.1	Mar 2026
Entergy Corporation ETR	14.6	3.0	Mar 2026
CMS Energy Corporation CMS	14.3	2.6	Mar 2026
American Electric Power Company, Inc. AEP	14.1	2.9	Mar 2026
CenterPoint Energy, Inc. CNP	14.1	2.5	Mar 2026
Fortis Inc. FTS	14.1	1.6	Mar 2026
The Southern Company SO	13.6	2.7	Mar 2026
Emera Incorporated EMA	13.6	1.6	Mar 2026
Ameren Corporation AEE	13.6	2.2	Mar 2026
PPL Corporation PPL	13.0	1.9	Mar 2026
Consolidated Edison, Inc. ED	12.9	1.6	Mar 2026
Pinnacle West Capital Corporation PNW	12.9	1.7	Mar 2026
Evergy, Inc. EVRG	12.3	1.9	Mar 2026
National Grid plc NGG	12.2	1.6	Mar 2026
OGE Energy Corp. OGE	11.8	2.0	Mar 2026
Duke Energy Corporation DUK	11.5	1.9	Mar 2026
Exelon Corporation EXC	11.2	1.7	Mar 2026
PG&E Corporation PCG	10.4	1.1	Jun 2026
Eversource Energy ES	10.2	1.6	Mar 2026
Edison International EIX	7.6	1.6	Mar 2026
Companhia Paranaense de Energia - COPEL ELPC	7.0	1.9	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 202112.7

Dec 202112.6

Mar 202213.5

Jun 202212.7

Sep 202212.2

Dec 202213.3

Mar 202314.1

Jun 202314.2

Sep 202312.4

Dec 202312.7

Mar 202412.5

Jun 202412.9

Sep 202413.9

Dec 202412.6

Mar 202513.5

Jun 202512.1

Sep 202512.4

Dec 202512.9

Mar 202614.1

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 202110.8

Dec 202111.3

Mar 202212.2

Jun 202212.2

Sep 202211.6

Dec 202212.2

Mar 20239.8

Jun 20239.7

Sep 202310.0

Dec 202310.6

Mar 202412.4

Jun 202412.2

Sep 202413.1

Dec 202411.9

Mar 202513.2

Jun 202511.5

Sep 202511.4

Dec 202511.9

Mar 202612.9

Jun 2026—

Dominion Energy, Inc. · D

Sep 202118.3

Dec 202122.5

Mar 202219.0

Jun 202220.7

Sep 202218.3

Dec 202220.7

Mar 202318.3

Jun 202315.4

Sep 202313.2

Dec 202313.0

Mar 202413.6

Jun 202413.3

Sep 202414.4

Dec 202415.5

Mar 202515.7

Jun 202515.2

Sep 202515.7

Dec 202514.9

Mar 202615.2

Jun 2026—

Duke Energy Corporation · DUK

Sep 202114.5

Dec 202113.6

Mar 202214.3

Jun 202213.7

Sep 202212.5

Dec 202213.3

Mar 202312.9

Jun 202312.5

Sep 202312.3

Dec 202312.0

Mar 202411.7

Jun 202411.8

Sep 202412.6

Dec 202411.9

Mar 202512.4

Jun 202511.8

Sep 202511.7

Dec 202511.3

Mar 202611.5

Jun 2026—

Entergy Corporation · ETR

Sep 202111.5

Dec 202112.2

Mar 202212.6

Jun 202212.3

Sep 202211.4

Dec 202211.9

Mar 202311.8

Jun 20239.8

Sep 20239.2

Dec 20239.9

Mar 202410.7

Jun 202411.0

Sep 202412.1

Dec 202412.0

Mar 202511.9

Jun 202511.4

Sep 202512.1

Dec 202512.4

Mar 202614.6

Jun 2026—

Exelon Corporation · EXC

Sep 20216.7

Dec 20217.2

Mar 20229.0

Jun 202210.0

Sep 202210.4

Dec 202212.0

Mar 202312.0

Jun 202311.9

Sep 202311.3

Dec 202310.5

Mar 202410.8

Jun 202410.2

Sep 202410.9

Dec 202410.6

Mar 202511.1

Jun 202510.9

Sep 202510.7

Dec 202510.6

Mar 202611.2

Jun 2026—

National Grid plc · NGG

Sep 202116.3

Dec 202115.1

Mar 202213.7

Jun 202212.8

Sep 202211.3

Dec 202211.0

Mar 202311.8

Jun 202312.1

Sep 202311.9

Dec 202313.5

Mar 202411.3

Jun 202413.8

Sep 202418.3

Dec 202416.0

Mar 202511.0

Jun 202515.5

Sep 202515.3

Dec 202515.8

Mar 202612.2

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 202132.4

Dec 202134.5

Mar 202240.0

Jun 202234.3

Sep 202228.3

Dec 202227.0

Mar 202318.7

Jun 202315.7

Sep 202313.0

Dec 202312.6

Mar 202414.2

Jun 202416.5

Sep 202417.6

Dec 202418.1

Mar 202517.8

Jun 202517.1

Sep 202517.9

Dec 202517.9

Mar 202619.9

Jun 2026—

PG&E Corporation · PCG

Sep 20219.2

Dec 20219.3

Mar 20228.9

Jun 20229.5

Sep 20229.0

Dec 202210.1

Mar 202310.0

Jun 20239.9

Sep 202310.9

Dec 202311.2

Mar 202410.2

Jun 20249.6

Sep 20248.2

Dec 202412.0

Mar 202511.2

Jun 202510.6

Sep 20258.2

Dec 20258.0

Mar 20269.8

Jun 202610.4

Public Service Enterprise Group Incorporated · PEG

Sep 2021367.4

Dec 202195.9

Mar 2022—

Jun 2022217.3

Sep 202218.4

Dec 202218.9

Mar 202311.5

Jun 202310.4

Sep 20239.2

Dec 202310.1

Mar 202413.3

Jun 202415.1

Sep 202416.8

Dec 202413.0

Mar 202532.2

Jun 202529.1

Sep 202512.5

Dec 202512.2

Mar 202628.1

Jun 2026—

The Southern Company · SO

Sep 202113.6

Dec 202117.1

Mar 202217.6

Jun 202215.5

Sep 202214.3

Dec 202214.8

Mar 202314.2

Jun 202314.7

Sep 202313.9

Dec 202313.2

Mar 202412.6

Jun 202412.4

Sep 202413.1

Dec 202412.9

Mar 202513.2

Jun 202513.4

Sep 202513.2

Dec 202512.9

Mar 202613.6

Jun 2026—

Xcel Energy Inc. · XEL

Sep 202113.1

Dec 202113.8

Mar 202214.2

Jun 202213.6

Sep 202212.5

Dec 202212.9

Mar 202312.3

Jun 202312.2

Sep 202311.7

Dec 202312.2

Mar 202411.2

Jun 202411.0

Sep 202412.2

Dec 202413.1

Mar 202513.5

Jun 202513.2

Sep 202515.3

Dec 202514.4

Mar 202615.1

Jun 2026—

P/BV · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

American Electric Power Company, Inc. · AEP

Sep 20213.8

Dec 20212.4

Mar 20223.0

Jun 20222.4

Sep 20221.8

Dec 20222.0

Mar 20234.1

Jun 20231.8

Sep 20231.6

Dec 20233.4

Mar 20241.8

Jun 20242.4

Sep 20242.4

Dec 20241.8

Mar 20252.1

Jun 20251.9

Sep 20252.2

Dec 20252.0

Mar 20262.9

Jun 2026—

Consolidated Edison, Inc. · ED

Sep 20211.3

Dec 20211.5

Mar 20221.6

Jun 20221.7

Sep 20221.5

Dec 20221.6

Mar 20231.6

Jun 20231.5

Sep 20231.4

Dec 2023—

Mar 20241.5

Jun 20241.4

Sep 20241.7

Dec 20241.4

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20251.5

Mar 20261.6

Jun 2026—

Dominion Energy, Inc. · D

Sep 20212.4

Dec 20212.5

Mar 20222.7

Jun 20222.5

Sep 20222.2

Dec 20222.0

Mar 20231.8

Jun 20231.6

Sep 20231.4

Dec 20231.5

Mar 20241.6

Jun 20241.6

Sep 20241.9

Dec 20241.8

Mar 20251.8

Jun 20251.8

Sep 20252.0

Dec 20251.8

Mar 20261.9

Jun 2026—

Duke Energy Corporation · DUK

Sep 20211.5

Dec 20211.6

Mar 20221.7

Jun 20221.7

Sep 20221.4

Dec 20221.6

Mar 20231.5

Jun 20231.4

Sep 20231.4

Dec 20231.5

Mar 20241.5

Jun 20241.6

Sep 20241.8

Dec 20241.7

Mar 20251.9

Jun 20251.8

Sep 20251.9

Dec 20251.8

Mar 20261.9

Jun 2026—

Entergy Corporation · ETR

Sep 20211.8

Dec 20212.0

Mar 20222.0

Jun 20222.0

Sep 20221.7

Dec 20221.8

Mar 20231.7

Jun 20231.6

Sep 20231.4

Dec 20231.5

Mar 20241.6

Jun 20241.6

Sep 20241.9

Dec 20242.2

Mar 20252.4

Jun 20252.3

Sep 20252.5

Dec 20252.5

Mar 20263.0

Jun 2026—

Exelon Corporation · EXC

Sep 20211.0

Dec 20211.2

Mar 20222.0

Jun 20221.9

Sep 20221.5

Dec 20221.7

Mar 20231.7

Jun 20231.6

Sep 20231.5

Dec 20231.4

Mar 20241.4

Jun 20241.3

Sep 20241.5

Dec 20241.4

Mar 20251.7

Jun 20251.6

Sep 20251.6

Dec 20251.6

Mar 20261.7

Jun 2026—

National Grid plc · NGG

Sep 20211.6

Dec 20211.6

Mar 20221.8

Jun 20221.5

Sep 20221.3

Dec 20221.2

Mar 20231.4

Jun 20231.3

Sep 20231.2

Dec 20231.3

Mar 20241.4

Jun 20240.9

Sep 20241.4

Dec 20241.2

Mar 20251.4

Jun 20251.4

Sep 20251.4

Dec 20251.5

Mar 20261.6

Jun 2026—

NextEra Energy, Inc. · NEE

Sep 20214.2

Dec 20214.9

Mar 20224.6

Jun 20224.2

Sep 20224.0

Dec 20224.2

Mar 20233.6

Jun 20233.4

Sep 20232.5

Dec 20232.6

Mar 20242.7

Jun 20243.0

Sep 20243.5

Dec 20242.9

Mar 20252.9

Jun 20252.8

Sep 20252.9

Dec 20253.1

Mar 20263.5

Jun 2026—

PG&E Corporation · PCG

Sep 20210.1

Dec 20210.2

Mar 20220.2

Jun 20220.1

Sep 20220.2

Dec 20220.2

Mar 20230.2

Jun 20230.2

Sep 20230.2

Dec 20230.6

Mar 20240.5

Jun 20240.5

Sep 20240.5

Dec 20241.5

Mar 20251.2

Jun 20251.0

Sep 20250.4

Dec 20250.4

Mar 20261.0

Jun 20261.1

Public Service Enterprise Group Incorporated · PEG

Sep 20212.2

Dec 20212.3

Mar 20222.6

Jun 20222.3

Sep 20222.1

Dec 20222.2

Mar 20232.1

Jun 20232.1

Sep 20231.9

Dec 20232.0

Mar 20242.1

Jun 20242.3

Sep 20242.8

Dec 20242.6

Mar 20252.5

Jun 20252.5

Sep 20252.5

Dec 20252.4

Mar 20262.3

Jun 2026—

The Southern Company · SO

Sep 2021—

Dec 20212.6

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20222.6

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20232.4

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20242.7

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20252.7

Mar 2026—

Jun 2026—

Xcel Energy Inc. · XEL

Sep 20212.2

Dec 20212.4

Mar 20222.5

Jun 20222.4

Sep 20222.1

Dec 20222.3

Mar 20232.2

Jun 20232.0

Sep 20231.8

Dec 20232.0

Mar 20241.7

Jun 20241.7

Sep 20241.9

Dec 20242.0

Mar 20252.1

Jun 20251.9

Sep 20252.3

Dec 20252.0

Mar 20262.1

Jun 2026—

09 · let price answer last

Market action

Edison International has the strongest one-year price move in Utilities - Regulated Electric at +50.2%. It also leads on Mansfield relative strength against the S&P 500 at +14.5%. 13 of 29 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Utilities - Regulated Electric comparison names 4 specific ways its own evidence can mislead, all listed below. All 29 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

10 · the complete set

Which companies are included?

All 29 companies in the canonical Utilities - Regulated Electric membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals
NextEra Energy, Inc. NEE	$186.2B	$89.3	2026-07-28	Mar 2026
The Southern Company SO	$109.1B	$96.8	2026-07-28	Mar 2026
Duke Energy Corporation DUK	$100.8B	$129	2026-07-28	Mar 2026
National Grid plc NGG	$80.6B	$80.9	2026-07-28	Mar 2026
American Electric Power Company, Inc. AEP	$72.4B	$133	2026-07-28	Mar 2026
Dominion Energy, Inc. DAHEAD	$62.1B	$70.6	2026-07-28	Mar 2026
Entergy Corporation ETR	$51.4B	$112	2026-07-28	Mar 2026
Xcel Energy Inc. XEL	$50.1B	$80.4	2026-07-28	Mar 2026
Exelon Corporation EXC	$48.4B	$47.3	2026-07-28	Mar 2026
Consolidated Edison, Inc. ED	$41.3B	$112	2026-07-28	Mar 2026
Public Service Enterprise Group Incorporated PEGLAGGING, FUNDAMENTALS UP	$39.3B	$79.0	2026-07-28	Mar 2026
PG&E Corporation PCG	$39.2B	$17.8	2026-07-28	Jun 2026
WEC Energy Group, Inc. WEC	$37.0B	$114	2026-07-28	Mar 2026
Ameren Corporation AEE	$31.1B	$113	2026-07-28	Mar 2026
Edison International EIXAHEAD	$30.7B	$79.8	2026-07-28	Mar 2026
DTE Energy Company DTE	$30.4B	$146	2026-07-28	Mar 2026
Fortis Inc. FTS	$29.7B	$58.3	2026-07-28	Mar 2026
CenterPoint Energy, Inc. CNP	$28.8B	$44.1	2026-07-28	Mar 2026
FirstEnergy Corp. FE	$28.7B	$49.7	2026-07-28	Mar 2026
Eversource Energy ES	$28.4B	$75.4	2026-07-28	Mar 2026
PPL Corporation PPL	$27.3B	$36.3	2026-07-28	Mar 2026
CMS Energy Corporation CMS	$23.0B	$74.4	2026-07-28	Mar 2026
Evergy, Inc. EVRG	$19.7B	$85.7	2026-07-28	Mar 2026
Alliant Energy Corporation LNT	$19.1B	$73.8	2026-07-28	Mar 2026
Emera Incorporated EMA	$16.7B	$54.5	2026-07-28	Mar 2026
Pinnacle West Capital Corporation PNW	$12.8B	$105	2026-07-28	Mar 2026
OGE Energy Corp. OGE	$10.2B	$49.3	2026-07-28	Mar 2026
Companhia Paranaense de Energia - COPEL ELPC	$8.7B	$11.6	2026-07-28	Mar 2026
IDACORP, Inc. IDA	$8.2B	$149	2026-07-28	Mar 2026

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 29 Utilities - Regulated Electric companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-28 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Questions investors ask · short, speakable answers

Utilities - Regulated Electric company comparison FAQs

These 18 answers restate the Utilities - Regulated Electric comparison above in question form. Every one is computed from the same 29 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Utilities - Regulated Electric company is the biggest?

Duke Energy Corporation is the largest, with trailing-twelve-month revenue of $33,166 million, ahead of The Southern Company at $30,174 million. That covers 27 of 29 companies with comparable reporting through Mar 2026.

Which Utilities - Regulated Electric company is growing fastest?

DTE Energy Company has the fastest revenue growth at 20.9% year on year, across 27 of 29 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Utilities - Regulated Electric company has the best profit margins?

Emera Incorporated has the highest operating margin at 33.5%, from 27 of 29 comparable companies. IDACORP, Inc. shows the biggest recent improvement, at +7.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Utilities - Regulated Electric company makes the most profit?

NextEra Energy, Inc. earns the most, at $6,555 million of trailing-twelve-month net profit, from 27 of 29 comparable companies. Eversource Energy has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Utilities - Regulated Electric company earns the highest return on capital?

Companhia Paranaense de Energia - COPEL leads on return on capital employed at 2.9%, across 29 of 29 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Utilities - Regulated Electric stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Edison International screens cheapest at 0.26×. Only 27 of 29 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Utilities - Regulated Electric company has the strongest balance sheet?

IDACORP, Inc. carries the lowest comparable gross debt at $4,009 million, from 28 of 29 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Utilities - Regulated Electric company is investing most in new capacity?

National Grid plc reports the largest capital spending at $5,545 million, across 29 of 29 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Utilities - Regulated Electric sector beating the market?

Utilities - Regulated Electric has underperformed S&P 500 by 4.4% over the last 52 weeks and 2.9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 13 of 29 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Utilities - Regulated Electric stock has the strongest price momentum?

Edison International has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Utilities - Regulated Electric company scores highest for research priority?

Dominion Energy, Inc. scores 68.6 out of 100 with 82% evidence confidence, from 21.7 points on growth and earnings, 12.1 on capital efficiency, 15.3 on valuation and 19.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Utilities - Regulated Electric companies does this comparison cover, and over what period?

It compares 29 listed companies over up to 20 reported quarters of fundamentals and 7 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Utilities - Regulated Electric sector?

The 29 Utilities - Regulated Electric companies on this page carry $1,271,463 million of combined market value. NextEra Energy, Inc. is the largest at $186,221 million, about 15% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Utilities - Regulated Electric sector's P/E ratio?

The median price-to-earnings ratio across the 29 Utilities - Regulated Electric companies on this page is 21.6×, measured on the 29 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Utilities - Regulated Electric sector performing?

13 of the 29 covered Utilities - Regulated Electric companies are beating S&P 500 on Mansfield relative strength. The sector itself is 4.4% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Utilities - Regulated Electric stocks are listed in the US?

This comparison covers 29 listed Utilities - Regulated Electric companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.