Constellation Energy (CEG) Stock Analysis

July 23, 2026

This is a peer-relative look at Constellation Energy (CEG): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Utilities peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Constellation Energy (CEG)
Profile Item	CEG
Name	Constellation Energy Corporation
Country/Region	United States
GICS Sector	Utilities
GICS Industry Group	Utilities
GICS Industry	Electric Utilities
GICS Sub-Industry	Electric Utilities
Market Capitalization	93.64 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	January 19, 2022
Security Type	Common Stock

Price Performance

Cumulative Growth

CEG

GSPC

Constellation Energy (CEG) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Constellation Energy (CEG) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Constellation Energy (CEG) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Constellation Energy (CEG) metric values compared with Utilities industry-group medians
Metric	Current stock: CEG	Industry group median
Total Return (1Y)	-17.08%	15.00%
Total Return (3Y, Annualized)	40.45%	11.96%
Total Return (5Y, Annualized)	--	8.64%

Risk Profile

Drawdown History

CEG

GSPC

Constellation Energy (CEG) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Constellation Energy (CEG) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Constellation Energy (CEG) metric values compared with Utilities industry-group medians
Metric	Current stock: CEG	Industry group median
Volatility (1Y, Annualized)	46.74%	21.90%
Beta (5Y)	1.12	0.55
Max Drawdown (5Y)	-50.70%	-36.10%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. CEG is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Constellation Energy (CEG) metric values compared with Utilities industry-group medians
Metric	Current stock: CEG	Industry group median
Sharpe Ratio (1Y)	-0.45	0.43
Sortino Ratio (1Y)	-0.63	0.64

Profitability

ROE (TTM)

Constellation Energy (CEG) posts ROE of 16.11%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

CEG

Utilities industry group

16.11%

Group distribution

CEG: 16.11%
Max: 16.11%
Q3: 11.23%
Median: 9.48%
Q1: 7.55%
Min: 2.67%

Largest peers

CEG: 16.11%
AEP: 12.59%
SO: 10.99%
NEE: 10.33%
D: 9.79%
DUK: 9.66%
NGG: 8.41%

Where Constellation Energy (CEG) stands on ROE within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Constellation Energy (CEG) keeps 12.69% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

CEG

Utilities industry group

12.69%

Group distribution

Max: 29.37%
Q3: 17.31%
CEG: 12.69%
Median: 12.55%
Q1: 9.24%
Min: -0.65%

Largest peers

NEE: 29.37%
NGG: 18.32%
D: 16.93%
AEP: 16.29%
DUK: 15.71%
SO: 14.46%
CEG: 12.69%

Where Constellation Energy (CEG) stands on net margin within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Constellation Energy (CEG) turns 21.86% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

CEG

Utilities industry group

21.86%

Group distribution

Max: 43.52%
Q3: 30.09%
Median: 23.50%
CEG: 21.86%
Q1: 16.61%
Min: 0.00%

Largest peers

NGG: 32.60%
NEE: 30.18%
D: 28.75%
SO: 25.82%
DUK: 25.51%
AEP: 23.74%
CEG: 21.86%

Where Constellation Energy (CEG) stands on operating margin within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Constellation Energy (CEG) metric values compared with Utilities industry-group medians
Metric	Current stock: CEG	Industry group median
ROE (TTM)	16.11%	9.48%
ROA (TTM)	4.20%	2.98%
Net Margin (TTM)	12.69%	12.55%
Operating Margin (TTM)	21.86%	23.50%
Gross Margin (TTM)	23.26%	43.69%

Growth

Revenue Growth

Constellation Energy (CEG) grew revenue 8.34%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Constellation Energy (CEG): Revenue Growth across different time periods, set against Utilities industry-group medians.

EPS Growth

Constellation Energy (CEG) grew earnings per share -37.76%, in the lower peer quartile. Per-share profits are advancing more slowly than at most peers, so margins, costs, or share count deserve a closer look.

Constellation Energy (CEG): EPS Growth across different time periods, set against Utilities industry-group medians.

Growth Metrics

Constellation Energy (CEG) metric values compared with Utilities industry-group medians
Metric	Current stock: CEG	Industry group median
Revenue Growth (YoY)	8.34%	8.34%
Revenue Growth (3Y CAGR)	1.47%	3.85%
EPS Growth (YoY)	-37.76%	3.93%
EPS Growth (3Y CAGR)	--	5.17%

Financial Strength

Current Ratio (MRQ)

Constellation Energy (CEG) has current ratio of 1.36, above the industry’s typical middle range. Liquidity looks ample versus peers, though an unusually high cushion can also mean idle current assets or inefficient working capital.

CEG

Utilities industry group

1.36

Group distribution

Max: 1.74
CEG: 1.36
Q3: 1.16
Median: 0.90
Q1: 0.65
Min: 0.33

Largest peers

CEG: 1.36
D: 0.78
NGG: 0.76
DUK: 0.66
SO: 0.65
NEE: 0.54
AEP: 0.53

Where Constellation Energy (CEG) stands on current ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Constellation Energy (CEG) has debt-to-equity ratio of 0.66, in the lower-leverage quartile for its industry. Borrowing is modest relative to equity compared with most peers, which can leave more flexibility through a cycle.

CEG

Utilities industry group

0.66

Group distribution

Max: 3.02
Q3: 1.79
Median: 1.33
Q1: 0.85
CEG: 0.66
Min: 0.00

Largest peers

SO: 1.90
DUK: 1.61
AEP: 1.57
NEE: 1.57
D: 1.55
NGG: 1.21
CEG: 0.66

Where Constellation Energy (CEG) stands on debt-to-equity ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Constellation Energy (CEG) metric values compared with Utilities industry-group medians
Metric	Current stock: CEG	Industry group median
Current Ratio (MRQ)	1.36	0.90
Debt / Equity (MRQ)	0.66	1.33
Net Debt / EBITDA	2.71	5.41

Dividends

Dividend Yield (TTM)

Constellation Energy (CEG) has dividend yield of 0.63%, in the lower peer-yield quartile. Dividend income is lighter than at most industry peers, which may reflect a greater tilt toward reinvestment, buybacks, or growth.

CEG

Utilities industry group

0.63%

Group distribution

Max: 5.79%
Q3: 3.68%
Median: 2.87%
Q1: 1.91%
CEG: 0.63%
Min: 0.00%

Largest peers

D: 3.79%
DUK: 3.37%
SO: 3.13%
AEP: 2.87%
NEE: 2.64%
CEG: 0.63%
NGG: 0.59%

Where Constellation Energy (CEG) stands on dividend yield within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Constellation Energy (CEG) has payout ratio of 13.81%, below the peer payout band. More earnings are being kept inside the business, but that is a dividend-policy choice rather than a coverage advantage on its own.

CEG

Utilities industry group

13.81%

Group distribution

Max: 116.67%
Q3: 73.40%
Median: 58.69%
Q1: 36.87%
CEG: 13.81%
Min: 0.00%

Largest peers

D: 78.76%
SO: 75.70%
NGG: 71.18%
DUK: 65.23%
NEE: 58.95%
AEP: 55.62%
CEG: 13.81%

Where Constellation Energy (CEG) stands on payout ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Constellation Energy (CEG) metric values compared with Utilities industry-group medians
Metric	Current stock: CEG	Industry group median
Dividend Yield (TTM)	0.63%	2.87%
Dividend Payout Ratio (TTM)	13.81%	58.69%

Valuation

P/E Ratio (TTM)

Constellation Energy (CEG) trades at P/E ratio of 22.04, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

CEG

Utilities industry group

22.04

Group distribution

Max: 30.81
Q3: 23.97
CEG: 22.04
Median: 20.72
Q1: 16.62
Min: 6.52

Largest peers

SO: 24.13
NEE: 22.32
CEG: 22.04
D: 20.60
AEP: 19.39
DUK: 19.37
NGG: 19.08

Where Constellation Energy (CEG) stands on P/E ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Constellation Energy (CEG) trades at 3.14 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

CEG

Utilities industry group

3.14

Group distribution

Max: 6.28
Q3: 3.59
CEG: 3.14
Median: 2.76
Q1: 1.67
Min: 0.00

Largest peers

NEE: 6.58
NGG: 4.62
D: 3.52
SO: 3.51
AEP: 3.16
CEG: 3.14
DUK: 3.00

Where Constellation Energy (CEG) stands on P/S ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Constellation Energy (CEG) trades at 2.84 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

CEG

Utilities industry group

2.84

Group distribution

Max: 3.32
CEG: 2.84
Q3: 2.37
Median: 1.86
Q1: 1.45
Min: 0.36

Largest peers

NGG: 9.47
NEE: 3.32
SO: 2.85
CEG: 2.84
AEP: 2.23
D: 2.18
DUK: 1.83

Where Constellation Energy (CEG) stands on P/B ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Constellation Energy (CEG) metric values compared with Utilities industry-group medians
Metric	Current stock: CEG	Industry group median
P/E Ratio (TTM)	22.04	20.72
P/S Ratio (TTM)	3.14	2.76
P/B Ratio (MRQ)	2.84	1.86
Free Cash Flow Yield (TTM)	-4.78%	-5.91%