Utilities · NYSE: NEE
NextEra Energy: how the business works
NextEra Energy owns Florida Power & Light, which supplies electricity to about 12 million people in Florida, and builds and runs wind, solar, battery and nuclear plants across the US and Canada, with FY2025 revenue of $27.4 billion.
By Hardik Bhandare · Checked against filings: . Editorial policy. Corrections
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NextEra Energy, Inc. · Juno Beach, Florida
Updated for Q3 FY2026 · checked
- Revenue, FY2025
- $27.4B
- Net income attributable to NextEra Energy, FY2025
- $6.8B
- Net generating and storage capacity, Dec 31, 2025 (about)
- 80 GW
- FPL customer accounts, Dec 31, 2025
- More than 6 million
- Total debt, Sep 30, 2026
- $113.9B
The short version
NextEra Energy in 5 points
1 · What it sells
NextEra Energy sells electricity in Florida through its regulated utility FPL and across the US and Canada through NEER's wind, solar, battery, nuclear and gas plants, with about 80 GW of net capacity at Dec 31, 2025.
2 · Who pays it
In FY2025, FPL's Florida customers paid 66.6% of revenue, buyers of NEER's power 32.0% and Corporate and Other 1.4%, and NextEra Energy discloses no single large customer.
3 · What it keeps from $100
Of every $100 that came in during FY2025, NextEra Energy kept $23.83 as net income, lifted by a tax benefit and $1,503 million of losses assigned to tax-equity partners, while operating income was $28.87.
4 · Where the operating profit comes from
FPL earned $5,012 million of FY2025 net income and NEER $2,975 million, while Corporate and Other, which includes holding-company interest and interest-rate hedges, lost $1,152 million.
5 · The one thing to watch
Total debt rose from $95,619 million at Dec 31, 2025 to $113,932 million on Sep 30, 2026, while the Dominion Energy merger still awaits FERC, NRC and state approvals.
Sources: From NextEra Energy's FY2025 10-K and Q3 FY2026 10-Q · checked
See the full receipt and the management scorecard below
01Where the money goes · FY2025
Where does $100 of NextEra Energy's money go?
NextEra Energy · FY2025
Receipt for every $100
| Depreciation and amortization | $22.9 |
|---|---|
| Operations and maintenance | $18.8 |
| Fuel, purchased power and interchange | $17.2 |
| Interest expense | $15.9 |
| Taxes other than income taxes | $8.6 |
| Losses of part-owned companies such as XPLR | $0.6 |
| Income tax benefit (adds) | −$2.8 |
| Losses assigned to tax-equity partners and other minority owners (adds) | −$5.2 |
| Kept as net income | $23.8 |
| Total | $100 |
Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.
How this is worked out
Cityfort calculation from the FY2025 10-K. Of every $100 that came in during FY2025 (revenue $27,412 million + gains on asset sales and other income items $1,266 million = $28,678 million), each line = line ÷ $28,678 million × 100. Two lines are negative because they added to profit: an $802 million income tax benefit, and $1,503 million of losses assigned to noncontrolling interests, mainly tax-equity partners in NEER projects. Operating income was $28.87 of each $100.
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02The business in one line
What does NextEra Energy do?
Florida homes and businesses pay Florida Power & Light regulated rates for electricity, and other buyers pay NextEra Energy Resources for power under long-term contracts; most of the money goes on wear-and-tear of plants, upkeep, fuel and interest, and $23.83 of every $100 that came in during FY2025 was left as net income.
- Florida Power & Light (FPL) brought in $18,262 million of FY2025 revenue and NextEra Energy Resources (NEER) $8,760 million.
- FPL earned $5,012 million of FY2025 net income and NEER $2,975 million, while Corporate and Other lost $1,152 million.
03Who pays it
Who pays NextEra Energy?
FPL's Florida customers
67%
of revenue
66.6% of FY2025 revenue, or $18,262 million. Of FPL's 2025 revenue, residential customers paid 57%, commercial 32%, wholesale buyers 3% and others 8%.
Buyers of NEER's power
32%
of revenue
32.0% of FY2025 revenue, or $8,760 million. About 95% of NEER's net capacity was under long-term contracts at Dec 31, 2025.
Corporate and Other
1%
of revenue
1.4% of FY2025 revenue, or $390 million, reported outside the two main segments.
- FPL's Florida customers67%
- Buyers of NEER's power32%
- Corporate and Other1%
How spread out the customers are
NextEra Energy discloses no customer that pays 10% or more of revenue. At Dec 31, 2025, 89% of FPL's customer accounts were residential and 11% commercial. Segment shares are a Cityfort calculation from the FY2025 10-K; FPL's customer-class shares are as the 10-K states them.
04Why it makes money
Why does NextEra Energy make money?
FPL earns a regulated return on what it invests, and NEER sells power from new plants under long contracts, so profit grows as the asset base grows.
The Florida regulator lets FPL recover its costs and earn a return on equity of 10.95% (range 9.95% to 11.95%) under the 2025 rate agreement. More plants and lines mean more capital to earn on. FPL's net income rose from $3,206 million in FY2021 to $5,012 million in FY2025, as its net plant grew from $58,227 million to $81,755 million.
FPL net income, US$ million
$3,206$5,012
FY2021 to FY2025
- FPL and NEER spend on new plants, lines and batteries
- The Florida regulator adds FPL's spending to the base it earns a return on
- NEER signs long-term contracts to sell the new plants' power
- Customers pay rates and contract prices that cover costs plus a return
- Profit and new borrowing pay for the next round of building and for dividends
↺ Step 5 feeds back into step 1.
05Business segments · FY2025
Which businesses make up NextEra Energy?
Florida Power & Light (FPL)
67%The regulated Florida utility. The profit figure is FPL's net income. In Q3 FY2026 FPL had revenue of $5,421 million and net income of $1,620 million. Shares are a Cityfort calculation from the FY2025 10-K.
Revenue $18.3B · Operating profit $5.0B
NextEra Energy Resources (NEER)
32%Wind, solar, storage, nuclear and gas plants and power lines outside Florida. The profit figure is net income attributable to NextEra Energy. NEER revenue includes gains and losses on hedges, so it swings: $3,720 million in FY2022 and $9,672 million in FY2023.
Revenue $8.8B · Operating profit $3.0B
Corporate and Other
1%Holding-company items, including interest and the effects of interest-rate hedges. Its revenue was negative in FY2021 (minus $86 million) and FY2022 (minus $46 million), so the history chart shows FPL and NEER only.
Revenue $390M · Operating profit −$1.2B
How the mix changed
- Florida Power & Light (FPL)
- NextEra Energy Resources (NEER)
- Corporate and Other
Revenue by segment, FY2021 to FY2025.
US$
See the numbers
06The numbers · Consolidated · US$
How has NextEra Energy done?
Revenue
$27.4BFY2025
Revenue rose from $17.1 billion in FY2021 to $28.1 billion in FY2023, fell to $24.8 billion in FY2024 and was $27.4 billion in FY2025; NEER's revenue includes hedge gains and losses, which lifted FY2023 and held down FY2022.
US$
See the numbers
Net profit
$6.8BFY2025
Net income attributable to NextEra Energy rose from $3,573 million in FY2021 to $7,310 million in FY2023 and was $6,835 million in FY2025; Q3 FY2026's $4,775 million includes a $2,246 million after-tax gain on hedges.
US$
See the numbers
Profit kept per $100 of revenue
$24.9FY2025
Net income was $24.9 per $100 of revenue in FY2025 and operating income $30.2; Q3 FY2026's $59.0 of net income per $100 reflects the hedge gain.
$ of profit per $100 of revenue (net margin)
See the numbers
Free cash flow
−$12.1BFY2025
Free cash flow was negative every year from FY2021 to FY2025, minus $12.1 billion in FY2025, because capital spending of $24.6 billion exceeded operating cash flow of $12.5 billion.
US$ · cash from operations minus spending on plants and equipment
See the numbers
See all yearly numbers
EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (Fiscal year ends Dec 31). Net profit is the share belonging to the company's owners. Total net income differs from net profit to the company's owners: NextEra Energy's share is higher than total net income because $1,503 million of losses were assigned to noncontrolling interests, mainly tax-equity partners in NEER projects.
Download NextEra Energy's yearly and quarterly numbers (CSV, with source ids)
Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares
Sources (14)
- Form 10-K, fiscal year 2023 (ended Dec 31, 2023)
- Form 10-K, fiscal year 2022 (ended Dec 31, 2022)
- Form 10-K, fiscal year 2025 (ended Dec 31, 2025)
- Form 10-K, fiscal year 2024 (ended Dec 31, 2024)
- Q3 2024 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year 2024 earnings release (Form 8-K, Exhibit 99)
- Q1 2025 earnings release (Form 8-K, Exhibit 99)
- Q2 2025 earnings release (Form 8-K, Exhibit 99)
- Q3 2025 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year 2025 earnings release (Form 8-K, Exhibit 99)
- Q1 2026 earnings release (Form 8-K, Exhibit 99)
- Q2 2026 earnings release (Form 8-K, Exhibit 99)
- Q3 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026)
07Who runs it
Who runs NextEra Energy, and did they deliver?
John W. Ketchum
Chairman, President and Chief Executive Officer · since 2022
CEO since March 2022. His 2025 total pay in the Summary Compensation Table was $24,192,607, up from $21,603,598 in 2024. The proxy's CEO pay ratio was 147 to 1.
Scott Bores
Chief Executive Officer, Florida Power & Light · since 2026
FPL's president, he became FPL's CEO on May 18, 2026.
Armando Pimentel Jr.
Vice Chairman · since 2026
Resigned as FPL's CEO effective May 18, 2026 and was appointed Vice Chairman of NextEra Energy.
What they said, and what happened
2 delivered · 3 too early to tell
Said on Oct 23, 2024
NextEra Energy said in its Q3 FY2024 earnings release that it continued to expect 2024 adjusted EPS of $3.23 to $3.43.
DeliveredWhat happened
2024 adjusted EPS was $3.43, the top of the range; GAAP diluted EPS was $3.37.
Said on Jan 24, 2025
NextEra Energy said in its Q4 FY2024 earnings release that it continued to expect 2025 adjusted EPS of $3.45 to $3.70.
DeliveredWhat happened
2025 adjusted EPS was $3.71, above the range; GAAP diluted EPS was $3.30.
Said on Jan 2, 2026
NextEra Energy said in its Jan 2, 2026 8-K that it continued to expect 2026 adjusted EPS of $3.92 to $4.02.
Too early to tellWhat happened
The year is not over. On Oct 21, 2026 the company said it is targeting the high end of the range; adjusted EPS for the first nine months was $3.47, as stated in the Q3 FY2026 earnings release.
Said on Jan 2, 2026
NextEra Energy said it expects dividends per share to grow about 10% a year through 2026, from a 2024 base.
Too early to tellWhat happened
FY2025 dividends per share were $2.27, up 10.2% from $2.06 in FY2024 (Cityfort calculation from the FY2025 10-K). The full 2026 figure is not yet reported.
Said on May 18, 2026
NextEra Energy and Dominion Energy said on May 18, 2026 that they agreed to combine; NextEra Energy later said it expects closing in the second half of 2027.
Too early to tellWhat happened
Both companies' shareholders approved in September 2026; regulatory approvals were still needed as of the Q3 FY2026 10-Q.
Sources (11)
- 2026 proxy statement (DEF 14A)
- Form 8-K (Item 5.02): FPL chief executive change
- Q3 2024 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year 2024 earnings release (Form 8-K, Exhibit 99)
- Q4 and full-year 2025 earnings release (Form 8-K, Exhibit 99)
- Form 8-K (Items 2.02, 7.01): 2025-2026 adjusted EPS and dividend expectations
- Q3 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-K, fiscal year 2025 (ended Dec 31, 2025)
- Form 8-K, Exhibit 99.1: joint press release, NextEra Energy and Dominion Energy to combine
- Form 8-K (Item 5.07): results of Sep 3, 2026 special meeting
- Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026)
08What could go wrong
What could go wrong for NextEra Energy?
- Regulation
Florida rate decisions
FPL brought in 66.6% of FY2025 revenue at rates the Florida Public Service Commission sets. The FY2025 10-K names regulatory decisions as a risk. Opponents of FPL's 2025 rate agreement asked the commission in February 2026 to reconsider its approval, and appealed to the Florida Supreme Court. The Q3 FY2026 10-Q says the commission denied substantially all of the motion in April 2026. The court consolidated the appeals in June 2026, and they remain pending.
Watch The Florida Supreme Court appeal of the rate order, and FPL's net income each quarter ($1,620 million in Q3 FY2026).
- Debt
Heavy borrowing to fund building
Capital spending exceeded operating cash flow every year from FY2021 to FY2025, and total debt reached $113,932 million on Sep 30, 2026. Interest expense was $4,572 million in FY2025. The 10-K says lower credit ratings could raise borrowing costs.
Watch Total debt and the Moody's, S&P and Fitch ratings (Baa1, A-, A- as of May 18, 2026).
- Regulation
Clean energy laws and tax incentives
The FY2025 10-K names new or revised laws, executive orders and tax incentives for clean energy as risk factors, along with supply chains and tariffs for generation equipment and batteries, and project siting and permitting.
Watch Changes to federal clean energy tax credits and tariffs, and NEER's backlog (about 36.7 GW on Sep 30, 2026, a company measure).
- Execution
The pending Dominion Energy merger
The merger still needs FERC, NRC, three state regulators and antitrust clearance. NextEra Energy would pay $6.52 billion, or $4.83 billion if regulatory approvals fail, in specified cases. Dominion holders would own about 25.5% of the combined company.
Watch Virginia and South Carolina hearings in November and December 2026, North Carolina hearings from February 2027, and the Nov 15, 2027 outside date.
- Raw-material prices
Hedge gains and losses swing results
Hedges on power, fuel and interest rates that do not qualify for hedge accounting run through results. They added $1,497 million after tax in FY2023 and took off $272 million in FY2025, and added $2,246 million in Q3 FY2026.
Watch The hedge line in each quarter's reconciliation of GAAP and adjusted earnings.
- Other
Storms in Florida
The 10-K names weather and severe storms as risks. Hurricane Isaias hit Northwest Florida in October 2026; FPL had restored power to more than 97% of affected customers by Oct 13, and the storm's cost was not yet stated.
Watch Storm costs and how FPL recovers them, in the Q4 FY2026 results.
- Other
Losses on its XPLR stake
NextEra Energy owns about 52.4% of XPLR Infrastructure. XPLR investment items, including impairments, were after-tax losses of $963 million in FY2023, $852 million in FY2024 and $656 million in FY2025.
Watch XPLR investment gains and losses in each earnings release.
Sources (8)
- Form 10-K, fiscal year 2025 (ended Dec 31, 2025)
- Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026)
- Q3 2026 earnings release (Form 8-K, Exhibit 99)
- S&P Global Ratings research update: NextEra Energy Inc., subsidiaries ratings affirmed on announced merger with Dominion Energy; outlook stable
- Fitch Ratings: Fitch affirms NextEra's ratings, outlook stable; places Dominion on Positive Watch
- Moody's credit opinion: NextEra Energy, Inc., update to credit analysis
- Form 8-K (Item 1.01): merger agreement with Dominion Energy
- Form 8-K, Exhibit 99.1: joint press release, NextEra Energy and Dominion Energy to combine
09Both sides
What do supporters and critics point to?
What supporters point to
- FPL's net income rose from $3,206 million in FY2021 to $5,012 million in FY2025.
- About 95% of NEER's net capacity was under long-term contracts at Dec 31, 2025.
- NEER's renewables and storage backlog, a company measure, was about 36.7 GW on Sep 30, 2026, up from more than 25 GW at the end of 2024.
- S&P and Fitch affirmed their A- ratings and Moody's its Baa1, all with stable outlooks, on May 18, 2026, after the Dominion announcement.
- Dividends per share rose every year from $1.54 in FY2021 to $2.27 in FY2025.
What critics point to
- Free cash flow was negative every year from FY2021 to FY2025, minus $12,121 million in FY2025.
- Total debt rose from $54,827 million at Dec 31, 2021 to $113,932 million on Sep 30, 2026.
- XPLR investment items, including impairments, cost $963 million, $852 million and $656 million after tax in FY2023 to FY2025.
- The FY2025 10-K states a five-year total shareholder return to Dec 31, 2025 of about 18.2%, against 96.2% for the S&P 500 and 59.1% for the S&P 500 Utilities.
- Under the Dominion agreement, NextEra Energy would pay $6.52 billion, or $4.83 billion if regulatory approvals fail, in specified cases.
10What to watch next
What should you watch next at NextEra Energy?
Next event
Q4 FY2026 results
Date not announced yet.
Dominion merger approvals
Virginia and South Carolina hearings are set for November and December 2026. NextEra Energy said on Oct 21, 2026 that it and Dominion expect final orders in January 2027. North Carolina hearings start in February 2027. FERC and NRC approvals are also needed.
Debt and funding
Total debt was $113,932 million on Sep 30, 2026, up from $95,619 million at Dec 31, 2025. Capital spending in the first nine months of FY2026 was $27,554 million against operating cash flow of $12,322 million.
Hedges in the results
Q3 FY2026 net income of $4,775 million included a $2,246 million after-tax hedge gain. The company's adjusted EPS, which leaves hedges out, was $1.24.
Hurricane Isaias costs
The storm hit Northwest Florida in October 2026, after the quarter ended. Its cost and how FPL recovers it were not yet stated.
11Key dates
What are the key dates for NextEra Energy?
| Event | Date | Source |
|---|---|---|
| Court hearing on the proposed derivative action settlement | Form 8-K (Item 8.01): proposed settlement of shareholder derivative actions | |
| Dominion merger agreement outside dateCan be extended to Aug 15, 2028 under the agreement. | Form 8-K (Item 1.01): merger agreement with Dominion Energy |
12Key facts
Key facts about NextEra Energy
- What does NextEra Energy do?
- NextEra Energy owns two businesses. Florida Power & Light (FPL) is a rate-regulated electric utility serving about 12 million people through more than 6 million customer accounts in Florida. NextEra Energy Resources (NEER) owns wind, solar, battery storage, nuclear and gas plants in 44 US states and 4 Canadian provinces. NextEra Energy had about 80 GW of net generating and storage capacity at Dec 31, 2025.
- How does NextEra Energy make money, and what is its business model?
- NextEra Energy's business model has two parts. FPL sells electricity in Florida at rates set by the Florida Public Service Commission, which allow a return on the money FPL invests in plants and lines. NEER sells power from its plants, about 95% of its net capacity under long-term contracts at Dec 31, 2025. In FY2025 NextEra Energy's revenue was $27,412 million: $18,262 million from FPL and $8,760 million from NEER.
- Is NextEra Energy profitable?
- Yes. NextEra Energy's FY2025 net income attributable to the company was $6,835 million, or $3.30 per diluted share, down from $6,946 million in FY2024. Operating income was $8,280 million. NextEra Energy's Q3 FY2026 net income of $4,775 million included a $2,246 million after-tax gain on hedges.
- What is NextEra Energy's revenue by segment?
- In FY2025, NextEra Energy's Florida Power & Light segment had revenue of $18,262 million (66.6% of the total), NextEra Energy Resources $8,760 million (32.0%) and Corporate and Other $390 million (1.4%), for total revenue of $27,412 million. Shares are a Cityfort calculation from the FY2025 10-K.
- Who are NextEra Energy's customers?
- NextEra Energy's utility, FPL, sells to more than 6 million customer accounts in Florida. In 2025, residential customers paid 57% of FPL's revenue, commercial customers 32%, wholesale buyers 3% and others 8%. NextEra Energy Resources sells power mostly under long-term contracts. NextEra Energy discloses no customer that pays 10% of revenue.
- Who owns NextEra Energy?
- NextEra Energy's reported 5% holders include BlackRock with 8.5% (Sep 30, 2026), Vanguard Capital Management with 7.55% (Mar 31, 2026), State Street with 5.58% (Dec 31, 2023, as listed in the 2026 proxy statementThe yearly filing about shareholder votes, the board and executive pay. Learn more) and JPMorgan Chase with 5.2% (Mar 31, 2026). NextEra Energy's officers and directors as a group held about 0.18% on Mar 23, 2026 (Cityfort calculation from the 2026 proxy statement). NextEra Energy has one class of common stock.
- What is Florida Power & Light (FPL)?
- Florida Power & Light is NextEra Energy's rate-regulated electric utility in Florida, with 35,963 MW of net generating capacity, about 93,000 circuit miles of power lines and 932 substations at Dec 31, 2025. FPL had FY2025 revenue of $18,262 million and net income of $5,012 million.
- What is NextEra Energy Resources (NEER)?
- NextEra Energy Resources is NextEra Energy's competitive power business: wind, solar, battery storage, nuclear and gas plants, plus regulated power lines through NextEra Energy Transmission. NEER had about 37,505 MW of net capacity at Dec 31, 2025, FY2025 revenue of $8,760 million and net income attributable to NextEra Energy of $2,975 million.
- How much debt does NextEra Energy have?
- NextEra Energy had total debt of $113,932 million and cash of $5,579 million on Sep 30, 2026, up from debt of $95,619 million at Dec 31, 2025. NextEra Energy's capital spending of $24,606 million in FY2025 was higher than its operating cash flow of $12,485 million.
- What is the NextEra Energy and Dominion Energy merger?
- NextEra Energy agreed on May 15, 2026 to combine with Dominion Energy. Each Dominion share would become 0.8138 NextEra Energy shares plus a share of $360 million in cash, leaving NextEra Energy holders with about 74.5% of the combined company. NextEra Energy shareholders approved the share issuance on Sep 3, 2026. The merger had not closed as of the Q3 FY2026 10-Q.
Sources (10)
- Form 10-K, fiscal year 2025 (ended Dec 31, 2025)
- Q3 2026 earnings release (Form 8-K, Exhibit 99)
- Schedule 13G/A filed by BlackRock, Inc. (NEE common stock, as of Sep 30, 2026)
- Schedule 13G filed by Vanguard Capital Management (NEE common stock, as of Mar 31, 2026)
- Schedule 13G filed by JPMorgan Chase & Co. (NEE common stock, as of Mar 31, 2026)
- 2026 proxy statement (DEF 14A)
- Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026)
- Form 8-K (Item 1.01): merger agreement with Dominion Energy
- Form 8-K, Exhibit 99.1: joint press release, NextEra Energy and Dominion Energy to combine
- Form 8-K (Item 5.07): results of Sep 3, 2026 special meeting
Terms on this page
- Capital expenditures (capex)
- Debt-to-equity
- Dividend payout ratio
- Earnings per share (EPS)
- EBITDA
- Free cash flow
- Market cap
- Net debt
- Net margin
- P/E ratio
Each explains the term in plain English, with the same number from other companies on Cityfort.
Go deeper
More detail from the same filings. Open any section.
13What it sells
13What it sells
What does NextEra Energy sell?
Electricity in Florida (FPL)
Power for about 12 million people through more than 6 million customer accounts, from 35,963 MW of FPL plants, about 93,000 circuit miles of lines and 932 substations. FPL revenue was $18,262 million in FY2025.
Power from wind, solar, nuclear and gas plants (NEER)
About 37,505 MW of net capacity in 44 US states and 4 Canadian provinces at Dec 31, 2025, about 95% of it under long-term contracts. NEER revenue was $8,760 million in FY2025.
Battery storage
About 5,177 MW of net battery storage capacity in NEER at Dec 31, 2025, which stores power and releases it when needed.
Power lines outside Florida
NextEra Energy Transmission, reported inside NEER, owns regulated transmission lines.
What it does
- Does: Generates electricity and delivers it to homes and businesses in Florida through FPL.
- Does: Builds wind, solar and battery projects and sells the power under long-term contracts.
- Does: Runs nuclear and gas power plants.
- Does: Brings in tax-equity partners: investors who fund projects in return for a share of their tax benefits.
What it does not do
- Does not: Set its own Florida prices: the Florida Public Service Commission sets FPL's retail rates.
- Does not: Own all of XPLR Infrastructure: it holds about 52.4% and counts its share of XPLR's results as one line.
- Does not: Include Dominion Energy in its numbers: the merger had not closed as of the Q3 FY2026 10-Q.
14How the money flows
14How the money flows · FY2025
How does money flow through NextEra Energy?
Money in
- Operating revenues$27.4B
- Gains on asset sales ($260M) and other income items ($1,006M)$1.3B
The company
NextEra Energy
$28.7B came in
Money out
- Fuel, purchased power and interchange$4.9B
- Operations and maintenance$5.4B
- Depreciation and amortization$6.6B
- Taxes other than income taxes$2.5B
- Interest expense$4.6B
- Losses of part-owned companies such as XPLR$184M
- Income tax benefit (adds)−$802M
- Losses assigned to tax-equity partners and other minority owners (adds)−$1.5B
- Net income attributable to NextEra Energy$6.8B
- Customers paid NextEra Energy $27.4 billion in FY2025: $18.3 billion to FPL and $8.8 billion to NEER.
- Fuel and bought-in power cost $4.9 billion, running and maintaining plants $5.4 billion and non-income taxes $2.5 billion.
- Wear-and-tear of plants (depreciation) took $6.6 billion, leaving operating income of $8,280 million with gains on asset sales.
- Interest took $4.6 billion and part-owned companies lost $0.2 billion; other income items added $1.0 billion, for income before taxes of $4,530 million.
- A tax benefit and $1,503 million of losses assigned to tax-equity partners lifted NextEra Energy's share to $6,835 million.
15What it needs to run
15What it needs to run
What does NextEra Energy need to run?
Power plants and lines
Property, plant and equipment, net, was $177,078 million on Sep 30, 2026, up from $99,348 million at Dec 31, 2021. FPL alone had 35,963 MW of net generating capacity at Dec 31, 2025.
Borrowed money
Capital spending of $24,606 million in FY2025 was about twice operating cash flow of $12,485 million. The gap is funded with debt, tax-equity partners and asset sales: FY2025 debt issued was $23,394 million.
Tax-equity partners
Investors who fund NEER projects in return for a share of their tax benefits. They paid in $3,276 million in FY2025.
Regulatory approval
The Florida Public Service Commission sets FPL's retail rates and allowed return; the 2025 rate agreement runs from January 2026 through at least December 2029.
People
About 9,400 FPL employees, around 30% of them union members (IBEW), and about 7,900 at NEER on Dec 31, 2025, per the FY2025 10-K. The 2026 proxy statement says NextEra Energy had 17,365 U.S.-based active employees on that date.
16Where growth could come from
16Where growth could come from
Where could NextEra Energy's growth come from?
NextEra Energy said in its Q3 FY2026 earnings release (Oct 21, 2026) that it is targeting the high end of its 2026 adjusted EPS range of $3.92 to $4.02. In the same release it said it expects adjusted EPS growth of 8%+ annually through 2032, off the 2025 base of $3.71. It also said it expects dividends per share to grow about 10% a year through 2026, off a 2024 base, and 6% a year from year-end 2026 through 2028. Adjusted EPS is a company measure; FY2025 diluted EPS was $3.30.
Renewables and storage backlog
WorkingAbout 36.7 GW, Sep 30, 2026
NEER's backlog of signed renewables and storage projects, a company measure, rose from more than 25 GW at the end of 2024. In Q3 FY2026 it added 3.7 GW, including 2.4 GW of storage, and placed 1.8 GW in service.
Status: Working, on track against what the company said.
FPL investment
WorkingAbout $12B capex expected for 2026
FPL spent about $2.4 billion in Q3 FY2026, and its regulatory capital employed rose about 9.2% from a year earlier, according to the Q3 FY2026 earnings release.
Status: Working, on track against what the company said.
2025 rate agreement
New$945M base revenue increase from Jan 1, 2026
The final order came in January 2026. A further $705 million annualized increase starts Jan 1, 2027, with solar and battery adjustments from 2027 to 2029.
Status: New, recently announced.
Dominion Energy merger
EarlyAgreed May 15, 2026; approvals pending
Shareholders of both companies approved in September 2026. FERC, NRC, Virginia, North Carolina and South Carolina regulators and antitrust clearance are still needed. NextEra Energy said on Oct 21, 2026 that it expects closing in the second half of 2027.
Status: Early, too early to judge.
Nuclear restart and federal hub projects
EarlyDuane Arnold restart: company expects no later than Q1 2029
A Department of Energy loan of up to $1.9 billion closed for the Duane Arnold restart. NEER also signed definitive agreements for three federal hub projects of about 16.5 GW. NextEra Energy said on Oct 21, 2026 that it expects to develop, build and operate the hubs for fees without investing capital. It also said Duane Arnold remains on track to restart no later than Q1 2029.
Status: Early, too early to judge.
Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.
17The company's own measures (non-GAAP)
17The company's own measures · FY2025 and Q3 FY2026, as each row says
What do NextEra Energy's own measures show?
Official (GAAP): Net income attributable to NextEra Energy, FY2025
$6.8B
Company's own measure: Adjusted earnings, FY2025
$7.7B
NextEra Energy's measure leaves out gains and losses on hedges that do not qualify for hedge accounting, XPLR investment gains and losses including impairments (an after-tax loss of $656 million in FY2025), unrealized gains on nuclear decommissioning funds, items tied to tax-equity partners and certain sales and impairments. From 2026 it also leaves out merger costs.
Official (GAAP): Diluted EPS, FY2025
$3.30
Company's own measure: Adjusted EPS, FY2025
$3.71
Same definition. Adjusted EPS was $3.43 in FY2024 (diluted EPS $3.37) and $3.17 in FY2023 (diluted EPS $3.60).
Official (GAAP): Net income attributable to NextEra Energy, Q3 FY2026
$4.8B
Company's own measure: Adjusted earnings, Q3 FY2026
$2.6B
GAAP net income includes a $3,005 million pre-tax ($2,246 million after-tax) gain on hedges, which the adjusted measure leaves out. Adjusted earnings were $2,348 million in Q3 FY2025.
Official (GAAP): Diluted EPS, Q3 FY2026
$2.28
Company's own measure: Adjusted EPS, Q3 FY2026
$1.24
Up 9.7% from $1.13 in Q3 FY2025, as NextEra Energy states it. Adjusted EPS for the first nine months of FY2026 was $3.47, as NextEra Energy states it in the Q3 FY2026 earnings release.
Official (GAAP)
No official figure measures this; it is the company's own operating measure.
Company's own measure: NEER renewables and storage backlog, Sep 30, 2026
36.7 GW
Signed projects not yet in service, as NextEra Energy counts them (about). It was about 30 GW at Dec 31, 2025. Backlog is not a GAAP figure and has no GAAP counterpart.
These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.
Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out
18Financial strength and debt
18Financial strength · Sep 30, 2026
How much debt does NextEra Energy have?
- Total debt$113.9B
- Cash and investments$5.6B
- Net debt (debt minus cash)$108.4B
- Net worth (shareholders' money)$61.5B
- Debt to equity
- 1.85×
- $ of debt for every $1 of shareholders' money
- Net debt of $108,353 million = total debt of $113,932 million (commercial paper $3,716 million, other short-term debt $4,258 million, current portion of long-term debt $8,833 million and long-term debt $97,125 million) minus cash of $5,579 million (Cityfort calculation from the Q3 FY2026 10-Q). Finance leases are not included.
- Total debt on the same basis was $54,827 million at Dec 31, 2021, $95,619 million at Dec 31, 2025 and $104,403 million on Mar 31, 2026 (Cityfort calculation from the FY2022 and FY2025 10-Ks and the Q1 FY2026 10-Q).
- Net debt to operating cash flow of 8.7 uses FY2025 operating cash flow (Cityfort calculation from the Q3 FY2026 10-Q and the FY2025 10-K).
- Debt to equity of 1.85 uses common shareholders' equity of $61,498 million; total equity including noncontrolling interests was $72,865 million (Cityfort calculation from the Q3 FY2026 10-Q).
- The total includes debt of NEER's projects and of the group's financing subsidiary, NextEra Energy Capital Holdings (NEECH); this page does not show the split, which the debt note gives.
19Who owns it
19Who owns it · ownership as of Mar 23, 2026
Who owns NextEra Energy?
- Officers and directors (as a group), shares
- 0.2%
Share classes
Holders of 5% or more
From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.
Insider trades · Form 4 data as of Nov 6, 2026
What did NextEra Energy's insiders report trading?
NextEra Energy's insiders made 61 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.
They reported no purchases and 18 sales (363,897 shares) in the open market or privately (codes P and S).
18 of the 18 sales were on forms with the Rule 10b5-1 plan box checked.
The same filings report 73 other share transactions (A: 34, F: 30, M: 8, J: 1).
They also report 48 transactions in options, stock units or other derivatives.
Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.
- P
- a purchase in the open market or privately
- S
- a sale in the open market or privately
- A
- a grant, award or other acquisition from the company under Rule 16b-3
- F
- shares withheld or handed over to pay an exercise price or tax when an award is received, exercised or vests
- M
- exercise or conversion of an option or other derivative, exempt under Rule 16b-3
- J
- another acquisition or disposition, described in a footnote
Code meanings: General Instruction 8 of Form 4 (SEC).
The latest 25 of 91 transactions
Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of NextEra Energy's Form 4 filings on EDGAR.
Learn: How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades
Sources (8)
- Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026)
- Form 10-K, fiscal year 2025 (ended Dec 31, 2025)
- Form 8-K (Item 5.07): results of Sep 3, 2026 special meeting
- Schedule 13G/A filed by BlackRock, Inc. (NEE common stock, as of Sep 30, 2026)
- Schedule 13G filed by Vanguard Capital Management (NEE common stock, as of Mar 31, 2026)
- Schedule 13G/A filed by The Vanguard Group (0 shares reported, as of Mar 13, 2026)
- 2026 proxy statement (DEF 14A)
- Schedule 13G filed by JPMorgan Chase & Co. (NEE common stock, as of Mar 31, 2026)
20What it does with profit
20What it does with profit
What does NextEra Energy do with its profit?
Dividend per share
$2.27FY2025
Dividend paid for each share, by financial year.
$ per share
See the numbers
Money raised · Dec 31, 2023
Common stock and equity units issued, net, in FY2023.
$4.5B
Money raised · Dec 31, 2025
Common stock and equity units issued, net, in FY2025.
$2.0B
Money raised · Sep 30, 2026
Common stock and equity units issued, net, in the first nine months of FY2026.
$969M
21Governance signals
21Governance signals
What do NextEra Energy's governance filings show?
- Auditor
- Deloitte & Touche LLP
- Auditor changes
- None in the period covered
- Audit qualifications
- None reported
- Related-party dealings
- The 2026 proxy says BlackRock, Vanguard and State Street, each a 5% holder, provide investment services to NextEra Energy's benefit plans and trusts.
- Credit rating
- Moody's Ratings, S&P Global Ratings and Fitch Ratings (affirmed May 18, 2026; also listed in the FY2025 10-K) Baa1 (Moody's) / A- (S&P) / A- (Fitch) (Stable at all three), May 18, 2026
A credit rating describes the company's ability to repay debt. It is not a rating of the share.
Flags to know about
disclosure · Oct 21, 2026
Hedges move reported results
Gains and losses on hedges that do not qualify for hedge accounting run through revenue and interest expense. Q3 FY2026 net income of $4,775 million includes a $2,246 million after-tax hedge gain, and that quarter's interest line was a net credit of $1,929 million.
regulatory
Appeal of FPL's rate order
The FY2025 10-K says Florida's Office of Public Counsel and others filed a joint motion in February 2026 asking the Florida Public Service Commission to reconsider its January 2026 order on FPL's 2025 rate agreement. They also appealed to the Florida Supreme Court. The Q3 FY2026 10-Q says the commission denied substantially all of the motion in April 2026. The court consolidated the appeals in June 2026, and they remain pending.
other · Oct 6, 2026
Proposed settlement of shareholder derivative actions
An 8-K filed Oct 6, 2026 describes a proposed settlement of shareholder derivative actions, including Davidson v. Silagy in the Palm Beach County Circuit Court. A court hearing on it is set for Dec 14, 2026.
other · May 18, 2026
Merger termination fees
Under the Dominion Energy merger agreement, NextEra Energy would pay $6.52 billion, or $4.83 billion if regulatory approvals fail, in specified cases; Dominion would pay $2.24 billion in specified cases.
other · May 18, 2026
FPL chief executive change
Armando Pimentel Jr. resigned as FPL's CEO and became NextEra Energy's Vice Chairman; FPL president Scott Bores became FPL's CEO.
disclosure
What the filings used do not break out
This page has no earnings call transcripts or investor slides. Revenue from hedges is not split out of total revenue here, and the debt split between project debt and holding-company debt is not shown.
Sources (10)
- 2026 proxy statement (DEF 14A)
- S&P Global Ratings research update: NextEra Energy Inc., subsidiaries ratings affirmed on announced merger with Dominion Energy; outlook stable
- Fitch Ratings: Fitch affirms NextEra's ratings, outlook stable; places Dominion on Positive Watch
- Moody's credit opinion: NextEra Energy, Inc., update to credit analysis
- Form 10-K, fiscal year 2025 (ended Dec 31, 2025)
- Q3 2026 earnings release (Form 8-K, Exhibit 99)
- Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026)
- Form 8-K (Item 8.01): proposed settlement of shareholder derivative actions
- Form 8-K (Item 1.01): merger agreement with Dominion Energy
- Form 8-K (Item 5.02): FPL chief executive change
22What the market paid
22What the market paid · price as of Nov 5, 2026
What did the market pay for NextEra Energy on Nov 5, 2026?
Price as of Nov 5, 2026 (shown for education; prices change daily).
Price as of Nov 5, 2026: an $88.25 close, from Nasdaq's historical price table for NEE; NextEra Energy's shares are listed on the NYSE. The same table shows $78.28 on Oct 21, 2026, the day Q3 results came out. Market value = $88.25 × 2,097,306,049 shares (10-Q cover, Sep 30, 2026) = $185,087 million (Cityfort calculation from the Nov 5, 2026 closing price and the Q3 FY2026 10-Q). P/E is price ÷ earnings per share: 26.7 on FY2025 diluted EPS of $3.30 (Cityfort calculation from the FY2025 10-K). On the four quarters to Sep 30, 2026 ($5.55) it would be 15.9, but that EPS includes the Q3 FY2026 hedge gain (Cityfort calculation from the Q4 FY2025 to Q3 FY2026 earnings releases). P/B = market value ÷ common shareholders' equity of $61,498 million = 3.01. Dividend yield = $2.4928 (4 × the $0.6232 Q3 FY2026 dividend) ÷ $88.25 = 2.82% (Cityfort calculation from the Q3 FY2026 10-Q).
- Share price
- $88.25
- Market value (market cap)
- $185.1B
- P/E
- 26.7×
- P/B
- 3×
More price-based ratios · as of Nov 5, 2026
Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.
Price to sales (P/S)
6.4×
$185.1B market value ÷ $28.8B revenue (four quarters to Sep 30, 2026) = 6.4×
Cityfort calculation from the Nov 5, 2026 closing price and the Q4 FY2025 to Q3 FY2026 10-Qs and earnings releases. Source: NEE historical prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; NEE is listed on the NYSE); Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026); Form 10-K, fiscal year 2025 (ended Dec 31, 2025) and 4 more
How price ratios workFree cash flow yield
−6.5%
−$12.1B free cash flow (FY2025) ÷ $185.1B market value = −6.5%
Cityfort calculation from the FY2025 10-K and the Nov 5, 2026 closing price. Source: NEE historical prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; NEE is listed on the NYSE); Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026); Form 10-K, fiscal year 2025 (ended Dec 31, 2025) and 4 more
What free cash flow means
Shares used for the market value: 2,097.31 million ($88.25 × 2,097.31 million shares ≈ $185.1B). Source: Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026); Form 10-K, fiscal year 2025 (ended Dec 31, 2025); Form 8-K (Item 5.07): results of Sep 3, 2026 special meeting
Source: NEE historical prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; NEE is listed on the NYSE); Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026); Form 10-K, fiscal year 2025 (ended Dec 31, 2025) and 4 more
Sources (8)
- NEE historical prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; NEE is listed on the NYSE)
- Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026)
- Form 10-K, fiscal year 2025 (ended Dec 31, 2025)
- Q4 and full-year 2025 earnings release (Form 8-K, Exhibit 99)
- Q1 2026 earnings release (Form 8-K, Exhibit 99)
- Q2 2026 earnings release (Form 8-K, Exhibit 99)
- Q3 2026 earnings release (Form 8-K, Exhibit 99)
- Form 8-K (Item 5.07): results of Sep 3, 2026 special meeting
23How it got here
23How it got here
How did NextEra Energy get here?
2021
Milestone
2021 Florida rate agreement
FPL's 2021 rate agreement set an allowed return on equity of 10.60%, raised to 10.80% in 2022, and let FPL amortize up to $1.45 billion of a depreciation reserve.
2022
Milestone
John Ketchum becomes CEO
John W. Ketchum became chief executive in March 2022 and is also chairman and president.
2023
Milestone
Florida City Gas sold
The sale brought a $306 million after-tax gain in FY2023, a year when net income attributable reached $7,310 million.
2024
Crisis
XPLR losses
XPLR investment items, including impairments, were an $852 million after-tax loss in FY2024, and NEER had a GAAP loss of $442 million in Q4 FY2024.
2026
Milestone
2025 rate agreement takes effect
After the regulator's final order in January 2026, FPL's base revenue rose $945 million a year from Jan 1, 2026, with an allowed return on equity of 10.95%.
2026
Business-model change
Agreement to combine with Dominion Energy
Announced May 18, 2026: Dominion holders would get 0.8138 NextEra Energy shares per share and about 25.5% of the combined company.
2026
Milestone
Shareholders approve the merger shares
On Sep 3, 2026, 99.47% of votes cast approved issuing shares for the merger, and 99.02% approved raising authorized shares to 5,000 million.
2026
Crisis
Hurricane Isaias
The storm hit Northwest Florida in October 2026; FPL restored more than 97% of affected customers by Oct 13.
Sources (7)
- Form 10-K, fiscal year 2025 (ended Dec 31, 2025)
- 2026 proxy statement (DEF 14A)
- Q4 and full-year 2024 earnings release (Form 8-K, Exhibit 99)
- Form 8-K (Item 1.01): merger agreement with Dominion Energy
- Form 8-K, Exhibit 99.1: joint press release, NextEra Energy and Dominion Energy to combine
- Form 8-K (Item 5.07): results of Sep 3, 2026 special meeting
- Q3 2026 earnings release (Form 8-K, Exhibit 99)
24Sources and changes
Where every number on this page comes from
Sources (30 documents)
- S1Form 10-K, fiscal year 2025 (ended Dec 31, 2025) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 13, 2026
- S2Form 10-K, fiscal year 2024 (ended Dec 31, 2024) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 14, 2025
- S3Form 10-K, fiscal year 2023 (ended Dec 31, 2023) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 16, 2024
- S4Form 10-K, fiscal year 2022 (ended Dec 31, 2022) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 17, 2023
- S5Form 10-Q, Q3 2026 (quarter ended Sep 30, 2026) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 21, 2026
- S7Form 10-Q, Q1 2026 (quarter ended Mar 31, 2026) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 23, 2026
- S9Q3 2026 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 21, 2026
- S10Q2 2026 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 24, 2026
- S11Q1 2026 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 23, 2026
- S12Q4 and full-year 2025 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 27, 2026
- S13Q3 2025 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 28, 2025
- S14Q2 2025 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 23, 2025
- S15Q1 2025 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 23, 2025
- S16Q4 and full-year 2024 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 24, 2025
- S17Q3 2024 earnings release (Form 8-K, Exhibit 99) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 23, 2024
- S182026 proxy statement (DEF 14A) · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 1, 2026
- S19Form 8-K (Item 1.01): merger agreement with Dominion Energy · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 18, 2026
- S20Form 8-K, Exhibit 99.1: joint press release, NextEra Energy and Dominion Energy to combine · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 18, 2026
- S21Form 8-K (Item 5.02): FPL chief executive change · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 18, 2026
- S22Form 8-K (Item 5.07): results of Sep 3, 2026 special meeting · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 3, 2026
- S23Form 8-K (Item 8.01): proposed settlement of shareholder derivative actions · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 6, 2026
- S24Form 8-K (Items 2.02, 7.01): 2025-2026 adjusted EPS and dividend expectations · NextEra Energy, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 2, 2026
- S25Schedule 13G/A filed by BlackRock, Inc. (NEE common stock, as of Sep 30, 2026) · BlackRock, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 27, 2026
- S26Schedule 13G filed by Vanguard Capital Management (NEE common stock, as of Mar 31, 2026) · Vanguard Capital Management (SEC EDGAR) · Tier 1: company or exchange filing · Apr 30, 2026
- S27Schedule 13G filed by JPMorgan Chase & Co. (NEE common stock, as of Mar 31, 2026) · JPMorgan Chase & Co. (SEC EDGAR) · Tier 1: company or exchange filing · May 13, 2026
- S28Schedule 13G/A filed by The Vanguard Group (0 shares reported, as of Mar 13, 2026) · The Vanguard Group (SEC EDGAR) · Tier 1: company or exchange filing · Mar 27, 2026
- S29NEE historical prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; NEE is listed on the NYSE) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
- S30S&P Global Ratings research update: NextEra Energy Inc., subsidiaries ratings affirmed on announced merger with Dominion Energy; outlook stable · S&P Global Ratings (hosted on NextEra Energy investor relations) · Tier 2: rating agency or regulator · May 18, 2026
- S31Fitch Ratings: Fitch affirms NextEra's ratings, outlook stable; places Dominion on Positive Watch · Fitch Ratings (hosted on NextEra Energy investor relations) · Tier 2: rating agency or regulator · May 18, 2026
- S32Moody's credit opinion: NextEra Energy, Inc., update to credit analysis · Moody's Ratings (hosted on NextEra Energy investor relations) · Tier 2: rating agency or regulator · May 18, 2026
Changes to this page (v1 · Nov 6, 2026)
- v1 · Nov 6, 2026First version, through Q3 FY2026 (quarter ended Sep 30, 2026). (first version)
Numbers come only from tier 1 and tier 2 sources. Read how we research.
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