CEG vs. ES: Constellation Energy vs. Eversource Energy Stock Comparison

November 11, 2026

How do Constellation Energy (CEG) and Eversource Energy (ES) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Constellation Energy (CEG) and Eversource Energy (ES) are both classified in the Electric Utilities sub-industry within the broader Electric Utilities industry, placing them in the closest GICS peer bucket.

Eversource Energy (ES) has more than two decades of public-market history since February 21, 1973, whereas Constellation Energy (CEG) listed on January 19, 2022 and has a much shorter record to draw on.

Company profile comparison for Constellation Energy (CEG) and Eversource Energy (ES)
Profile Item	CEG	ES
Name	Constellation Energy Corporation	Eversource Energy
Country/Region	United States	United States
GICS Sector	Utilities	Utilities
GICS Industry Group	Utilities	Utilities
GICS Industry	Electric Utilities	Electric Utilities
GICS Sub-Industry	Electric Utilities	Electric Utilities
Market Capitalization	88.56 billion USD	26.31 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	January 19, 2022	February 21, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CEG

GSPC

Constellation Energy (CEG) vs. Eversource Energy (ES), with S&P 500 (GSPC) for reference: 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 Eversource Energy (ES). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Constellation Energy (CEG) and Eversource Energy (ES). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Constellation Energy (CEG) and Eversource Energy (ES)
Metric	CEG	ES
Total Return (1Y)	-23.27%	0.35%
Total Return (3Y, Annualized)	32.21%	14.06%
Total Return (5Y, Annualized)	--	0.61%

Risk Profile

Drawdown History

CEG

GSPC

Constellation Energy (CEG) vs. Eversource Energy (ES), with S&P 500 (GSPC) for reference: 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 Eversource Energy (ES). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Constellation Energy (CEG) and Eversource Energy (ES)
Metric	CEG	ES
Volatility (1Y, Annualized)	49.44%	24.60%
Beta (5Y)	1.11	0.65
Max Drawdown (5Y)	-50.70%	-41.69%
Avg. Volume (3M)	3.37M	2.53M

Risk-Adjusted Performance

Risk-Return Positioning

CEG and ES are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Constellation Energy (CEG) and Eversource Energy (ES)
Metric	CEG	ES
Sharpe Ratio (1Y)	-0.56	-0.16
Sortino Ratio (1Y)	-0.78	-0.20

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Constellation Energy (CEG) earns 15.06% on shareholders’ equity, ranked against its industry; Eversource Energy (ES) has no ROE this period.

CEG

Utilities industry group

15.06%

Max: 17.99%
CEG: 15.06%
Q3: 12.01%
Median: 9.44%
Q1: 7.56%
Min: 2.17%

ES

Utilities industry group

Max: 17.99%
Q3: 12.01%
Median: 9.44%
Q1: 7.56%
Min: 2.17%
ES: --

Constellation Energy (CEG) vs. Eversource Energy (ES): ES does not report ROE, so it has no value marker; CEG is benchmarked against the Utilities industry group.

Net Margin (TTM)

Both Constellation Energy (CEG) at 11.08% and Eversource Energy (ES) at 10.38% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

CEG

Utilities industry group

11.08%

Max: 28.78%
Q3: 17.30%
Median: 12.73%
CEG: 11.08%
Q1: 9.18%
Min: -0.20%

ES

Utilities industry group

10.38%

Max: 28.78%
Q3: 17.30%
Median: 12.73%
ES: 10.38%
Q1: 9.18%
Min: -0.20%

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

Eversource Energy (ES) at 21.14% runs core operations around its industry’s norm, while Constellation Energy (CEG) at 8.66% operates in the bottom quartile.

CEG

Utilities industry group

8.66%

Max: 53.83%
Q3: 31.12%
Median: 23.62%
Q1: 15.45%
CEG: 8.66%
Min: -4.90%

ES

Utilities industry group

21.14%

Max: 53.83%
Q3: 31.12%
Median: 23.62%
ES: 21.14%
Q1: 15.45%
Min: -4.90%

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability Metrics

Profitability metrics for Constellation Energy (CEG) and Eversource Energy (ES)
Metric	CEG	ES
ROE (TTM)	15.06%	--
ROA (TTM)	3.89%	--
Net Margin (TTM)	11.08%	10.38%
Operating Margin (TTM)	8.66%	21.14%
Gross Margin (TTM)	22.11%	51.63%

Growth

Revenue Growth

Eversource Energy (ES) at 13.83% sits in the top revenue growth quartile, while Constellation Energy (CEG) at 8.34% is closer to the peer norm — faster top-line expansion for ES.

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their Revenue Growth across different time periods.

EPS Growth

Eversource Energy (ES) at 100.88% delivers above-range EPS growth, while Constellation Energy (CEG) at -37.76% falls into the bottom quartile — a wide split in earnings momentum.

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Constellation Energy (CEG) and Eversource Energy (ES)
Metric	CEG	ES
Revenue Growth (YoY)	8.34%	13.83%
Revenue Growth (3Y CAGR)	1.47%	3.30%
EPS Growth (YoY)	-37.76%	100.88%
EPS Growth (3Y CAGR)	--	4.03%

Financial Strength

Current Ratio (MRQ)

Short-term liquidity can only be read on one side of this pairing: Constellation Energy (CEG) shows current ratio of 1.46 against its industry benchmark, while Eversource Energy (ES) has no reading this period.

CEG

Utilities industry group

1.46

Max: 1.90
CEG: 1.46
Q3: 1.17
Median: 0.88
Q1: 0.66
Min: 0.29

ES

Utilities industry group

Max: 1.90
Q3: 1.17
Median: 0.88
Q1: 0.66
Min: 0.29
ES: --

Constellation Energy (CEG) vs. Eversource Energy (ES): ES does not report current ratio, so it has no value marker; CEG is benchmarked against the Utilities industry group.

Debt / Equity (MRQ)

Constellation Energy (CEG) at 0.76 keeps leverage in the lower quartile, while Eversource Energy (ES) at 1.81 sits in the higher-leverage quartile.

CEG

Utilities industry group

0.76

Max: 2.63
Q3: 1.77
Median: 1.35
Q1: 0.84
CEG: 0.76
Min: 0.00

ES

Utilities industry group

1.81

Max: 2.63
ES: 1.81
Q3: 1.77
Median: 1.35
Q1: 0.84
Min: 0.00

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Constellation Energy (CEG) and Eversource Energy (ES)
Metric	CEG	ES
Current Ratio (MRQ)	1.46	--
Debt / Equity (MRQ)	0.76	1.81
Net Debt / EBITDA	3.02	5.73

Dividends

Dividend Yield (TTM)

Eversource Energy (ES) at 4.33% delivers top-quartile income for its industry, while Constellation Energy (CEG) at 0.68% pays a more typical yield — both are credible income propositions, ES the richer one.

CEG

Utilities industry group

0.68%

Max: 6.66%
Q3: 3.58%
Median: 2.85%
CEG: 0.68%
Q1: 0.66%
Min: 0.00%

ES

Utilities industry group

4.33%

Max: 6.66%
ES: 4.33%
Q3: 3.58%
Median: 2.85%
Q1: 0.66%
Min: 0.00%

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

Constellation Energy (CEG) at 15.92% retains more earnings than its industry usually does; Eversource Energy (ES) at 82.19% distributes an above-typical share — opposite departures from the band, with the risk sitting on ES’s side.

CEG

Utilities industry group

15.92%

Max: 113.04%
Q3: 68.72%
Median: 56.38%
Q1: 32.38%
CEG: 15.92%
Min: 0.00%

ES

Utilities industry group

82.19%

Max: 113.04%
ES: 82.19%
Q3: 68.72%
Median: 56.38%
Q1: 32.38%
Min: 0.00%

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividend Metrics

Dividend metrics for Constellation Energy (CEG) and Eversource Energy (ES)
Metric	CEG	ES
Dividend Yield (TTM)	0.68%	4.33%
Dividend Payout Ratio (TTM)	15.92%	82.19%

Valuation

P/E Ratio (TTM)

Eversource Energy (ES) at 18.43 is near its industry’s usual P/E ratio, while Constellation Energy (CEG) at 24.43 sits in the richer quartile — CEG needs stronger growth or earnings quality to justify the premium.

CEG

Utilities industry group

24.43

Max: 31.22
CEG: 24.43
Q3: 23.30
Median: 19.64
Q1: 15.17
Min: 3.34

ES

Utilities industry group

18.43

Max: 31.22
Q3: 23.30
Median: 19.64
ES: 18.43
Q1: 15.17
Min: 3.34

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Constellation Energy (CEG) at 2.83 and Eversource Energy (ES) at 1.91 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CEG

Utilities industry group

2.83

Max: 6.35
Q3: 3.63
CEG: 2.83
Median: 2.63
Q1: 1.52
Min: 0.00

ES

Utilities industry group

1.91

Max: 6.35
Q3: 3.63
Median: 2.63
ES: 1.91
Q1: 1.52
Min: 0.00

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

Eversource Energy (ES) at 1.61 is valued about in line with its industry on P/B ratio, while Constellation Energy (CEG) at 2.78 carries an above-peer premium to book — CEG is pricier on assets.

CEG

Utilities industry group

2.78

Max: 3.12
CEG: 2.78
Q3: 2.21
Median: 1.83
Q1: 1.46
Min: 0.34

ES

Utilities industry group

1.61

Max: 3.12
Q3: 2.21
Median: 1.83
ES: 1.61
Q1: 1.46
Min: 0.34

Constellation Energy (CEG) vs. Eversource Energy (ES): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation Metrics

Valuation metrics for Constellation Energy (CEG) and Eversource Energy (ES)
Metric	CEG	ES
P/E Ratio (TTM)	24.43	18.43
P/S Ratio (TTM)	2.83	1.91
P/B Ratio (MRQ)	2.78	1.61
Free Cash Flow Yield (TTM)	-7.48%	--