olivLaw · US equity research
NEE NEE
Electric Services · SIC 4911 · Vertical: Electric Services (SIC 4911)
NextEra Energy is one of the largest electric power and energy infrastructure companies in North America, with approximately 80 gigawatts of net generation and storage capacity as of December 31, 2025. Its two principal businesses, FPL and NEER, produced net income attributable to NEE of $6.84 billion in 2025. In the third quarter of 2026 the company reported GAAP net income of $4.775 billion, and adjusted earnings per share rose 9.7% year-over-year.
At the close of 04 Nov 2026, NEE (NEE) stock was 88.45 USD (+4.89% on the day), with market capitalisation 184.4 bn USD, P/E 22.5 on diluted EPS of 3.93 USD over the last 12 months, dividend yield 2.63%, beta 0.26, 52-week range 75.49–97.88 USD. Latest reported quarter (Q1 2026): revenue of 6.1 bn USD (+1.7% YoY), net income of 2.2 bn USD (+161.9% YoY), diluted EPS 1.04 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 74.1
- overbought (≥ 70)
- Bollinger (20, 2)
- 75.04 – 86.66
- above the upper band · %B 1.15 · band width 14.4%
- SMA 50 / 200
- 80.35 / 87.36
- mixed trend
- MACD (12, 26, 9)
- 1.65 / 0.79
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +16.0% | −1.1% | +17.1 pp | — |
| 3 months | +3.0% | −0.5% | +3.4 pp | — |
| 6 months | −7.3% | +4.4% | −11.7 pp | — |
| Year to date | +10.2% | +12.3% | −2.1 pp | — |
| 1 year | +8.3% | +13.5% | −5.3 pp | +2.7% |
| 3 years | +49.0% | +76.4% | −27.5 pp | +45.2% |
| 5 years | +3.4% | +63.7% | −60.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2026 · 31 Mar 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6.0 bn | 6.7 bn | 5.3 bn | 6.0 bn | 6.4 bn | 7.4 bn | 6.1 bn | 6.1 bn |
| Operating income | 1.7 bn | 2.9 bn | 941.0 m | 2.3 bn | 1.9 bn | 2.5 bn | 1.6 bn | 2.2 bn |
| Depreciation & amortisation | 1.4 bn ≈ | 1.6 bn ≈ | 1.5 bn | 1.1 bn | 1.8 bn ≈ | 2.1 bn ≈ | 1.6 bn | 1.4 bn |
| Pre-tax income | 1.2 bn | 1.6 bn | 1.0 bn | -57.0 m | 1.4 bn | 1.9 bn | 1.3 bn | 1.2 bn |
| Income tax | -64.0 m | 5.0 m | 171.0 m | -521.0 m | -256.0 m | -250.0 m | 225.0 m | -489.0 m |
| Net income | 1.6 bn | 1.9 bn | 1.2 bn | 833.0 m | 2.0 bn | 2.4 bn | 1.5 bn | 2.2 bn |
| Diluted EPS | 0.79 | 0.90 | 0.58 ≈ | 0.40 | 0.98 | 1.18 | 0.73 ≈ | 1.04 |
| Operating cash flow | 3.9 bn ≈ | 4.3 bn ≈ | 2.0 bn | 2.8 bn | 3.2 bn ≈ | 4.0 bn ≈ | 2.5 bn | 2.6 bn |
| Dividends paid | 1.1 bn ≈ | 1.1 bn ≈ | 1.1 bn | 1.2 bn | 1.2 bn ≈ | 1.2 bn ≈ | 1.2 bn | 1.3 bn |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 48 percentile of its own 42-quarter history (min 2.4, median 23.0, max 114.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15.4 bn | 17.5 bn | 17.0 bn | 18.8 bn | 23.0 bn | 24.8 bn | 23.5 bn | 25.8 bn |
| Revenue YoY | unavailable | +13.6% | −2.9% | +10.6% | +22.3% | +7.8% | −5.2% | +9.8% |
| Net income | 6.6 bn | 3.8 bn | 2.9 bn | 3.6 bn | 4.1 bn | 7.3 bn | 6.9 bn | 6.8 bn |
| Net income YoY | +23.4% | −43.2% | −22.6% | +22.4% | +16.1% | +76.3% | −5.0% | −1.6% |
| Diluted EPS | 3.47 | 1.94 | 1.48 | 1.81 | 2.10 | 3.60 | 3.37 | 3.30 |
| Diluted EPS YoY | −69.5% | −44.1% | −23.7% | +22.3% | +16.0% | +71.4% | −6.4% | −2.1% |
| net % | 43.1% | 21.5% | 17.2% | 19.0% | 18.0% | 29.5% | 29.6% | 26.5% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.8 bn USD
- Financial debt
- 93.1 bn USD
- Net debt
- 90.2 bn USD
- Equity
- 66.5 bn USD
- Total assets
- 212.7 bn USD
- Debt / equity
- 1.40x
- Current ratio
- 0.60x
- ROE
- 10.8%
- ROA
- 3.4%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 17.0 bn | 18.8 bn | 23.0 bn | 24.8 bn | 23.5 bn | 25.8 bn | SEC (XBRL)· 13 Feb 2026verified |
| Operating income | 5.1 bn | 2.9 bn | 4.1 bn | 10.2 bn | 7.5 bn | 8.3 bn | SEC (XBRL)· 13 Feb 2026verified |
| Depreciation & amortisation | 4.1 bn | 3.9 bn | 4.5 bn | 5.9 bn | 5.5 bn | 6.6 bn | SEC (XBRL)· 13 Feb 2026verified |
| EBITDA | 9.2 bn ≈ | 6.8 bn ≈ | 8.6 bn ≈ | 16.1 bn ≈ | 12.9 bn ≈ | 14.9 bn ≈ | SEC (XBRL)· 13 Feb 2026derived |
| Pre-tax income | 2.4 bn | 3.2 bn | 3.8 bn | 7.3 bn | 6.0 bn | 4.5 bn | SEC (XBRL)· 13 Feb 2026verified |
| Income tax | 44.0 m | 348.0 m | 586.0 m | 1.0 bn | 339.0 m | -802.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Net income | 2.9 bn | 3.6 bn | 4.1 bn | 7.3 bn | 6.9 bn | 6.8 bn | SEC (XBRL)· 13 Feb 2026verified |
| Diluted EPS | 1.48 | 1.81 | 2.10 | 3.60 | 3.37 | 3.30 | SEC (XBRL)· 13 Feb 2026verified |
| Weighted average diluted shares | 2.0 bn | 2.0 bn | 2.0 bn | 2.0 bn | 2.1 bn | 2.1 bn | SEC (XBRL)· 13 Feb 2026verified |
| Dividend per share | 1.40 | 1.54 | 1.70 | 1.87 | 2.06 | 2.27 | SEC (XBRL)· 13 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.1 bn | 639.0 m | 1.6 bn | 2.7 bn | 1.5 bn | 2.8 bn | SEC (XBRL)· 13 Feb 2026verified |
| Receivables | 2.3 bn | 3.4 bn | 4.3 bn | 3.6 bn | 3.3 bn | 4.0 bn | SEC (XBRL)· 13 Feb 2026verified |
| Inventories | 1.6 bn | 1.6 bn | 1.9 bn | 2.1 bn | 2.2 bn | 2.4 bn | SEC (XBRL)· 13 Feb 2026verified |
| Current assets | 7.4 bn | 9.3 bn | 13.5 bn | 15.4 bn | 12.0 bn | 13.6 bn | SEC (XBRL)· 13 Feb 2026verified |
| Property, plant & equipment, net | 91.8 bn | 99.3 bn | 111.1 bn | 125.8 bn | 138.9 bn | 156.2 bn | SEC (XBRL)· 13 Feb 2026verified |
| Goodwill | 4.3 bn | 4.8 bn | 4.9 bn | 5.1 bn | 4.9 bn | 4.8 bn | SEC (XBRL)· 13 Feb 2026verified |
| Intangibles (excl. goodwill) | 558.0 m | 606.0 m | 623.0 m | 1.6 bn | 1.6 bn | 1.6 bn | SEC (XBRL)· 13 Feb 2026verified |
| Total assets | 127.7 bn | 140.9 bn | 158.9 bn | 177.5 bn | 190.1 bn | 212.7 bn | SEC (XBRL)· 13 Feb 2026verified |
| Short-term debt | 4.1 bn | 1.8 bn | 6.6 bn | 6.9 bn | 8.1 bn | 3.5 bn | SEC (XBRL)· 13 Feb 2026verified |
| Long-term debt | 41.9 bn | 51.0 bn | 55.3 bn | 61.4 bn | 72.4 bn | 89.6 bn | SEC (XBRL)· 13 Feb 2026verified |
| Current liabilities | 15.6 bn | 17.4 bn | 26.7 bn | 28.0 bn | 25.4 bn | 22.8 bn | SEC (XBRL)· 13 Feb 2026verified |
| Total liabilities | 82.8 bn | 95.2 bn | 109.5 bn | 118.5 bn | 129.3 bn | 146.2 bn | SEC (XBRL)· 13 Feb 2026verified |
| Equity | 44.9 bn | 45.4 bn | 48.3 bn | 57.8 bn | 60.5 bn | 66.5 bn | SEC (XBRL)· 13 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 8.0 bn | 7.6 bn | 8.3 bn | 11.3 bn | 13.3 bn | 12.5 bn | SEC (XBRL)· 13 Feb 2026verified |
| Investing cash flow | -13.7 bn | -13.6 bn | -18.4 bn | -23.5 bn | -22.3 bn | -23.9 bn | SEC (XBRL)· 13 Feb 2026verified |
| Financing cash flow | 6.2 bn | 5.8 bn | 12.2 bn | 12.1 bn | 7.0 bn | 13.0 bn | SEC (XBRL)· 13 Feb 2026verified |
| Dividends paid | 2.7 bn | 3.0 bn | 3.4 bn | 3.8 bn | 4.2 bn | 4.7 bn | SEC (XBRL)· 13 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
3 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 39 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40 · (margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 184.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation25
- Returns51
- Quality50
- Balance sheet0
- Growth82
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 20.13 – 97.83 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Dividend discount (DDM)29.83 – 40.12 (Mid 34.22)
- Peers: EV/EBITDA20.13 – 50.97 (Mid 33.61)9 companies used · median multiple 11.0x · quartiles 9.1x – 13.4xAEP, CEG, CNP, D, EIX, ES, ETR, SO, VST
- Peers: P/E78.90 – 97.83 (Mid 89.85)10 companies used · median multiple 22.8x · quartiles 20.1x – 24.9xAEP, CEG, CNP, D, ES, ETR, FE, PPL, SO, VST
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 39/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 4.5% | 0 (vs peers) | 7% |
| Net margin · Quality | 31.5% | 100 (vs peers) | 7% |
| Revenue CAGR 3Y · Growth | 3.9% | 59 (on a fixed band) | 7% |
| EPS CAGR 3Y · Growth | 16.3% | 100 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | 6.3x | 0 (vs peers) | 14% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.5x | 0 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 22.5x | 45 (vs peers) | 14% |
| EV/EBITDA · Valuation | 18.6x | 0 (vs peers) | 12% |
| Dividend yield · Returns | 2.6% | 36 (vs peers) | 17% |
| Payout ratio (EPS) · Returns | 59.1% | 85 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth82/100 · 2/2 factors with a value
- Quality50/100 · 2/2 factors with a value
- Returns51/100 · 2/2 factors with a value
- Valuation25/100 · 2/2 factors with a value
Memo
NEXTERA ENERGY INC (NEE). Latest full fiscal year: 2025; data up to 2026-03-31.
Figures computed from the financial statements: revenue 25.8 bn USD in 2025; YoY growth 9.8%; net margin 31.5%; ROE 15.6%; net debt/EBITDA 6.3x.
The estimated value range is 29.83–50.97 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 34.22 USD, the price of 88.45 USD leaves a potential of -61.3% (value / price − 1) and a margin of safety of -158.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 39/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 31.5%
- EPS CAGR 3Y: 16.3%
- Payout ratio (EPS): 59.1%
What contradicts it
- ROIC: 4.5%
- Net debt / EBITDA: 6.3x
- Current ratio: 0.5x
- EV/EBITDA: 18.6x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Interest coverage.
Versus the vertical median
Electric Services (SIC 4911) · same industry (4-digit SIC) · compared with 11 companies
Only companies with a capitalisation between 21.3 bn and 1,366.3 bn (within 8× of the company's); 41 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NEENextera Energy Inc | 184.4 bn | 22.5 | 15.6% | 31.5% | +9.8% | +8% / +49% |
| SOSouthern Co | 105.0 bn | 23.9 | 11.3% | 14.5% | +10.6% | +2% / +31% |
| CEGConstellation Energy Corporation | 87.1 bn | 24.0 | 15.3% | 11.1% | +8.3% | −33% / +103% |
| AEPAmerican Electric Power Company, Inc. | 70.3 bn | 19.0 | 12.8% | 16.9% | +10.9% | +4% / +62% |
| DDominion Energy, Inc | 61.3 bn | 20.6 | 10.5% | 16.9% | +14.2% | +11% / +54% |
| ETREntergy Corp | 51.2 bn | 28.4 | 11.1% | 13.6% | +9.0% | +15% / +121% |
| VSTVistra Operations Company LLC | 40.4 bn | 19.9 | 43.1% | 11.6% | +3.0% | −33% / +240% |
| FEFirstenergy Corp | 27.3 bn | 25.7 | 8.4% | 6.9% | +12.0% | −1% / +28% |
| PPLPPL Corp | 26.9 bn | 21.8 | 8.3% | 13.1% | +6.9% | −3% / +37% |
| CNPCenterpoint Energy Inc | 26.8 bn | 25.2 | 9.6% | 11.4% | +8.3% | +3% / +45% |
| ESEversource Energy | 26.5 bn | 18.2 | 9.1% | 10.4% | +13.8% | +5% / +19% |
| EIXEdison International | 23.7 bn | 6.5 | 20.8% | 19.6% | +9.8% | +4% / −8% |
1- and 3-year price returns: for NEE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 51.83 Total return -39% · Per year -39% | 91.65 Total return 6% · Per year 6% | 138.09 Total return 59% · Per year 59% |
| 3 years | 49.70 Total return -38% · Per year -15% | 98.95 Total return 20% · Per year 6% | 163.78 Total return 96% · Per year 25% |
| 5 years | 47.66 Total return -36% · Per year -9% | 106.83 Total return 36% · Per year 6% | 194.24 Total return 139% · Per year 19% |
- Exit P/E± 24.74
- Net margin± 17.32
- Annual revenue growth± 14.30
- Annual dilution± 1.46
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
NextEra Energy is one of the largest electric power and energy infrastructure companies in North America, with approximately 80 gigawatts of net generation and storage capacity as of December 31, 2025 1. Its two principal businesses, FPL and NEER, produced net income attributable to NEE of $6.84 billion in 2025 1. In the third quarter of 2026 the company reported GAAP net income of $4.775 billion, and adjusted earnings per share rose 9.7% year-over-year 3.
SWOT
Strengths
- Scale and a diversified generation mix spanning natural gas, wind, solar and nuclear give the company a solid base for new projects 1.
- FPL's regulated rate base and steady profit results provide long-term predictability 12.
- NEER's large project backlog and its role as a supplier of energy technologies support future growth 3.
Weaknesses
- Quarterly results can swing significantly because of the accounting for non-qualifying hedge activity, which makes comparisons difficult 2.
- Dependence on regulation and regulator decisions can limit cost recovery and the return the company is allowed to earn 1.
- Higher debt and financing costs weigh on the Corporate and Other segment 2.
Opportunities
Risks
- Regulation and rate decisionshigh
FPL's business depends on FPSC approvals, and unfavorable decisions or challenges to the rate agreement could limit cost recovery and returns 1.
- Clean energy policyhigh
Changes to tax incentives and clean energy policies could reduce the returns on new projects and affect development plans 1.
- Dominion Energy combinationmedium
Completion depends on approvals from several state and federal authorities, and delays or conditions could change the timetable and expected benefits 3.
- Earnings volatilitymedium
The effects of non-qualifying hedge activity can produce large swings in reported profit, making current performance harder to assess 2.
- Operational and weather risksmedium
Storms and extreme weather can affect the grid and create restoration costs that may be only partly recoverable 13.
Investment thesis
What would need to be true (bull case)
- Growth in FPL's regulated base, supported by large annual investment, and NEER's expanded backlog could support longer-term growth in adjusted earnings 23.
- Data center demand and the signed hub agreements could bring new contracts and more predictable revenue for NEER 3.
- If the Dominion Energy combination closes, the group could benefit from greater scale and a larger regulated capital base 3.
What would break the thesis
- Changes to clean energy policy and uncertain recovery of costs could reduce returns on projects and regulated investment 1.
- Quarterly results can be volatile because of hedge accounting effects, which could make reported profit harder to interpret 2.
- Execution and approval risks around the Dominion Energy combination could delay or change the benefits expected by shareholders and customers 3.
What to watch
- FPSC final order on the 2025 rate agreement and the pending reconsideration motion2026
- State approvals in Virginia and South Carolina for the Dominion Energy combinationJanuary 2027
- Progress of data center hub projects and the NEER backlog2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
NextEra Energy has two principal businesses: FPL, a rate-regulated utility that is the largest electric utility in Florida and the U.S., and NEER, one of the largest energy infrastructure developers in the U.S., which builds and operates long-term contracted renewables, nuclear, natural gas and battery storage facilities 1. As of December 31, 2025, FPL had 35,963 MW of net generating capacity and served more than six million customer accounts 1. The company also deploys advanced technologies, including artificial intelligence, to lower costs 1.
Regulation and capital structure differ between the two segments: FPL operates under FPSC rate regulation, with an authorized regulatory ROE of 10.95% under the 2025 rate agreement 1, while NEER develops its projects in competitive energy markets. In the third quarter of 2026 the company also announced a pending combination with Dominion Energy, approved by shareholders in September 2026, with closing expected in the second half of 2027 3.
If the Dominion Energy combination closes on the expected timetable, it could materially change the group's structure and reporting segments. Until then, NEE reports results for its two principal segments, FPL and NEER, with corporate and other activities grouped separately 2.
Segments
FPL
FPL is a rate-regulated electric utility in Florida engaged in generation, storage, transmission, distribution and sale of electric energy. As of December 31, 2025, FPL had 35,963 MW of net generating capacity and 226 franchise agreements with municipalities and counties 1. Wholesale and industrial customers represented approximately 5% of FPL's operating revenues in 2025 1.
Market context
Trends
- Data center demandtailwind
Strong energy demand from data centers is creating hub projects and long-term contracts for NEER, which could grow its backlog if these projects proceed 3.
- Grid and storage investmenttailwind
Ongoing investment in the grid, battery storage and storm-resilient infrastructure expands FPL's regulated rate base, which could support longer-term earnings growth 23.
- Changes to clean energy policyheadwind
Changes to tax incentives and clean energy policies, including recent legislation, can affect returns on new projects and could slow development of some facilities 1.
- Fuel costs and cost recovery mechanismsmixed
Higher fuel prices and changes to cost recovery clauses can create periods of under-recovery that could affect FPL's operating cash flows 1. The effect on results depends on how prices evolve.
Competitive position
FPL's position is distinctive because most customers would not find self-generation cheaper than its service, yet wholesale and industrial customers can turn to other suppliers, and technological, tax and regulatory factors could change this position 1. NEER competes among U.S. energy project developers, where long-term contracts and tenders determine winners.
The company cites competition from other electricity suppliers in wholesale and industrial markets, as well as from alternative energy sources 1. The proposed Dominion Energy combination could change the group's competitive profile if completed 3.
- Dominion EnergyD
Company with which NextEra Energy has announced a pending combination, approved by shareholders in September 2026 3.
- Customer self-generation
Self-generation by residential, commercial and industrial customers is a competitive factor cited in the filing, though few customers currently do it 1.
- Other wholesale and industrial electricity suppliers
Competition for wholesale and industrial customers comes from other electricity suppliers 1.
- Alternative energy sources
Alternative sources can compete with FPL's service, particularly if technology and costs change 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Bloom Energy vs. NextEra Energy: Which Renewable Energy Stock Is a Better Buy in 2026?Yahoo Finance — News · 22 Sept 2026 · EN
- GE Vernova vs. NextEra Energy: Which Industrials Stock Is a Better Buy in 2026?Yahoo Finance — News · 18 Sept 2026 · EN
- NextEra Energy Reaffirms 2026 Guidance at Top End of Range as $67 Billion Dominion Merger ProgressesYahoo Finance — News · 14 Sept 2026 · EN
- NextEra Energy Stock: Is NEE Outperforming the Utilities Sector?Yahoo Finance — News · 31 Aug 2026 · EN
- NextEra Energy to buy Dominion in deal that unites two key players in race to power AI data centersCNBC World · 18 May 2026 · EN
- O nouă tranzacţie mamut pe piaţa americană: Compania americană de utilităţi NextEra Energy poartă discuţii pentru o fuziune cu rivala Dominion Energy, într-o tranzacţie care ar crea un gigant al utilităţilor de peste 400 de miliarde de dolariZiarul Financiar · 16 May 2026 · RO
- NextEra Energy Is Said to Be in Talks to Acquire DominionBloomberg Markets · 16 May 2026 · EN
- NextEra Energy Is in Talks to Combine With Dominion Energy: FTBloomberg Markets · 16 May 2026 · EN
The latest news item in our archive is from 22 Sept 2026; the newest SEC filing is from 21 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report21 Oct 2026
- Current report21 Oct 2026Results of operations · Financial statements and exhibits
- Current report06 Oct 2026Other events · Financial statements and exhibits
- Current report14 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report03 Sept 2026Shareholder vote
- Current report25 Aug 2026Other events
- Current report11 Aug 2026Other events · Financial statements and exhibits
- Quarterly report24 Jul 2026
- Current report24 Jul 2026Results of operations · Financial statements and exhibits
- Current report08 Jul 2026Amendments to articles or bylaws · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / NEE · 13 Feb 2026
- [2] Form 10-Q, quarter ended 2026-09-30 · SEC / NEE · 21 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / NEE · 21 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.