At a glance
Nextera Energy Inc is worth $178.33B, about 26 times its fiscal 2025 earnings. Revenue grew 10.7% to $27.41B in fiscal 2025, with 24.9% kept as profit; over 5 years it has grown 8.8% a year. It pays a 2.86% dividend yield, raised every year for at least 9 years, and returned $19.07B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +7.4% over the past year with dividends reinvested and +2.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 35.6% in the 2020 crash (S&P 500: 33.7%) and 24.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 3 months after the lows.
The business in plain English
NextEra Energy is one of the largest electric power and energy infrastructure companies in North America. As of December 31, 2025, it had about 80 gigawatts of generating and battery storage capacity (a measure of how much power it can deliver at once), mostly natural gas, wind, solar and nuclear. It has two businesses, FPL and NEER. In fiscal 2025 it had revenue of $27.4 billion and net income of $6.8 billion.
FPL is the largest electric utility in Florida and the US. It serves about 12 million people through more than 6 million customer accounts on most of Florida's east and lower west coasts and in ten northwest Florida counties. As a regulated utility, it cannot set its own prices: Florida regulators (the FPSC) approve retail rates meant to cover its costs plus a reasonable return on the money it invests in plants, lines and substations. That return is not guaranteed. Wholesale and industrial customers made up about 5% of FPL's revenue in 2025.
NEER is one of the largest energy infrastructure developers in the US. It builds and runs renewable, nuclear and natural gas power plants and battery storage, typically selling the output under long-term contracts. It also owns regulated transmission lines, supplies gas and power, and sells energy and technology services to utilities and businesses.
Price history
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NEE +7.4% over the year to Nov 2, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $8.10B, up 1.7% from a year earlier, and net income was $4.78B (+95.9%).
- For fiscal 2025, revenue was $27.41B (+10.7% year over year; +8.8% a year from FY2020 to FY2025) with a 24.9% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +8.8% good |
|---|---|
| Operating margin | 30.2% good |
| Return on equity (FY2025) | 12.5% watch |
| Return on assets (FY2025) | 3.2% watch |
| Net cash (cash minus debt) | $-104.09B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $18.00B | $2.92B | — |
| FY2021 | $17.07B | $3.57B | — |
| FY2022 | $20.96B | $4.15B | — |
| FY2023 | $28.11B | $7.31B | — |
| FY2024 | $24.75B | $6.95B | — |
| FY2025 | $27.41B | $6.83B | — |
Valuation snapshot
| Market value | $178.33B |
|---|---|
| P/E ratio | 25.8 |
| Dividend yield | 2.86% |
Rank among 1514 US companies
Market value at each year end
Nextera Energy’s market value went from $55.82B at the end of 2016 to $178.33B on Nov 2, 2026, about 3.2 times as much; since the end of 2025 it is up 7%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $178.33B | +6.7% |
| 2025 | $167.19B | +13.4% |
| 2024 | $147.42B | +18.3% |
| 2023 | $124.62B | -25.0% |
| 2022 | $166.13B | -9.3% |
| 2021 | $183.19B | +21.2% |
| 2020 | $151.14B | +27.7% |
| 2019 | $118.36B | +42.5% |
| 2018 | $83.08B | +13.1% |
| 2017 | $73.47B | +31.6% |
| 2016 | $55.82B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| NEE price data to Nov 2, 2026 | +8.2% | +7.4% | +15.8% | +2.6% | +13.5% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +8.2% |
| 2025 | +15.5% |
| 2024 | +21.5% |
| 2023 | -25.3% |
| 2022 | -8.6% |
| 2021 | +23.4% |
| 2020 | +30.1% |
| 2019 | +42.7% |
| 2018 | +14.3% |
| 2017 | +34.4% |
| 2016 | +18.4% |
| 2015 | +0.8% |
| 2014 | +27.9% |
| 2013 | +28.0% |
| 2012 | +17.9% |
| 2011 | +21.9% |
| 2010 | +2.4% |
| 2009 | +8.7% |
| 2008 | -23.4% |
| 2007 | +27.9% |
| 2006 | +32.8% |
| 2005 | +12.2% |
| 2004 | +15.4% |
| 2003 | +9.8% |
| 2002 | +7.7% |
| 2001 | -20.6% |
| 2000 | +69.4% |
| 1999 | -29.8% |
| 1998 | +5.0% |
| 1997 | +30.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 31.1% over that stretch · deepest drop along the way 47.8%, back to its old high 41.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 33.5% over that stretch · deepest drop along the way 35.6%, back to its old high 4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19.4% over that stretch · deepest drop along the way 24.8%, back to its old high 3.1 months after the low |
Insider activity
Form 4 filings from 2025-10-28 to 2026-10-28 (25 read): 0 open-market purchases and 9 sales ($3.7M), 9 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 9, 2026 | Terrell Kirk II Crews EVP, Chief Risk Officer | sell (plan) | $843K |
| Mar 9, 2026 | Terrell Kirk II Crews EVP, Chief Risk Officer | sell (plan) | $507K |
| Feb 17, 2026 | Ronald R Reagan EVP, Eng., Const. & ISC | sell (plan) | $483K |
| Mar 9, 2026 | Terrell Kirk II Crews EVP, Chief Risk Officer | sell (plan) | $426K |
| Mar 9, 2026 | James Michael May Treasurer and Asst. Secretary | sell (plan) | $422K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.5% | Sep 30, 2026 |
| Vanguard Capital Management | 7.55% | Mar 31, 2026 |
| JPMORGAN CHASE & CO | 5.2% | Mar 31, 2026 |
ETFs with the most weight in NEE
| XLU Utilities Select Sector SPDR Fund | 11.89% |
| VPU Vanguard Utilities ETF | 10.86% |
| FUTY Fidelity MSCI Utilities Index ETF | 10.6% |
| IDU iShares U.S. Utilities ETF | 10.05% |
| SMOG VanEck Low Carbon Energy ETF | 8.06% |
| JXI iShares Global Utilities ETF | 8.01% |
| DARP Grizzle Growth ETF | 5.56% |
| GII SPDR S&P Global Infrastructure ETF | 4.88% |
What could go wrong
- Florida regulators control FPL's prices. The FPSC sets FPL's retail rates and can refuse to let it recover costs it considers excessive or unwisely spent. A tougher rate decision could cut the return FPL earns on its investments.
- Clean energy incentives could shrink or end. NextEra develops many clean energy projects, and tax credits and other government incentives support them. Reducing or ending those incentives, or adding tariffs on equipment, could force it to abandon projects and lose investments.
- Severe weather can damage its Florida network. FPL's business is concentrated in Florida, with about 93,000 circuit miles of power lines and 932 substations. Severe weather can damage equipment and disrupt service, and unusual temperatures change how much power customers use.
- Nuclear plants carry special risks. FPL runs four nuclear units; renewals of both St. Lucie licenses were pending as of February 2026. Extended outages, new safety rules or an accident at any US plant could bring extra costs or closures.
- Heavy debt depends on open credit markets. Total debt was about $109.7 billion as of September 30, 2026. Turmoil in credit markets or a credit rating downgrade could raise interest costs and slow the company's building plans.
- Energy price swings and hedges can backfire. NEER is a large gas and power supplier. If fuel and power prices swing sharply or break from past patterns, its hedges (trades meant to offset price moves) may not prevent significant losses.
Recent events
- Quarterly results released
- Other company announcement
- Investor presentation or announcement
- Shareholder vote results
- Other company announcement
- Other company announcement
- Quarterly results released
- Bylaws or fiscal year changed
- Other company announcement
- Other company announcement
For income and retirement investors
NextEra Energy has raised its dividend per share at least nine years in a row through FY2025, and the true streak may be longer. The dividend grew from $1.40 per share in FY2020 to $2.27 in FY2025, about 10.1% a year. Dividends paid equaled about 68.5% of FY2025 net income, and the yield was 2.95% as of October 27, 2026. The company bought back no stock from FY2021 to FY2025, and its share count rose 6.9% between January 2022 and September 2026, which spreads profits across more shares.
The stock has fallen hard in past downturns. It dropped 47.8% during the 2008 financial crisis and took about 42 months to recover. It fell 35.6% in the 2020 COVID crash but recovered in about four months, and fell 24.8% in the 2022 bear market before recovering by August 2022. It then lost 25.3% in calendar 2023. A single stock carries more risk than a diversified fund.
Questions investors ask
How does NextEra Energy make money?
NextEra Energy makes money mainly by generating and selling electricity. Its Florida utility, FPL, serves more than 6 million customer accounts at prices approved by regulators, which are meant to cover costs plus a reasonable return on invested capital. Its other business, NEER, builds and runs power plants and battery storage under long-term contracts, owns regulated transmission lines and supplies gas and power. Revenue was $27.4 billion in fiscal 2025, with net income of $6.8 billion.
Does NextEra Energy raise its dividend every year?
Yes, it has raised its dividend per share at least nine years in a row through FY2025, and the true streak may be longer. The dividend went from $1.40 in FY2020 to $2.27 in FY2025, about 10.1% a year. Past increases do not guarantee future ones. The company's annual report (10-K) warns that its ability to pay dividends depends on its subsidiaries sending cash up to the parent company.
What is NextEra Energy's dividend yield?
The dividend yield was 2.95% as of October 27, 2026. Yield is the yearly dividend divided by the share price, so it moves as the price changes. NextEra paid $2.27 per share in FY2025, and dividends paid that year equaled about 68.5% of net income. It bought back no shares from FY2021 to FY2025, so cash returned to shareholders came through dividends, which totaled about $19.1 billion over those five years.
How much debt does NextEra Energy have?
NextEra had about $109.7 billion of total debt as of September 30, 2026, against about $5.6 billion of cash and investments and $61.5 billion of shareholders' equity (assets minus liabilities). Utilities borrow heavily because power plants and lines cost a lot to build and are paid off over decades. The company's 10-K warns that turmoil in credit markets or a lower credit rating could raise its interest costs and limit its growth.
Which ETFs hold NextEra Energy stock?
NextEra Energy appears in 195 ETFs and is a large holding in several utility sector funds. It made up about 11.9% of the Utilities Select Sector SPDR Fund (XLU), 10.9% of the Vanguard Utilities ETF (VPU), 10.6% of the Fidelity MSCI Utilities Index ETF (FUTY) and 10.1% of the iShares U.S. Utilities ETF (IDU). These funds may suit investors who want utility exposure with less single-company risk, though each still has a big stake in NextEra.