Constellation Energy (CEG) 10-K Summary — Year Ended Dec 31, 2025
Constellation Energy Corporation is a utility and energy generation company. In 2025, its revenue increased and it reported significant operating income and net income, with strong cash from operations.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Constellation Energy Corporation is a utility and energy generation company. In 2025, its revenue increased and it reported significant operating income and net income, with strong cash from operations.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$22.7B
Revenue reported for the fiscal year.
Operating income
$3.1B
Income from operations reported for the year.
Net income
$2.3B
Net income reported for the year.
Operating cash flow
$4.2B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $21.6B | +25.0% |
| Dec 31, 2023 | $20.8B | -3.4% |
| Dec 31, 2024 | $19B | -9.0% |
| Dec 31, 2025 | $22.7B | +19.5% |
Business overview
The company generates and sells electricity, operates nuclear and other power plants, and supplies energy to customers. It also engages in related environmental and regulatory activities and employs a large workforce.
Financial performance
Revenue rose year over year compared to the prior annual period, while operating income and net income were reported at substantial levels. Cash flow from operations was strong, supporting the company's financial position.
Material risks
The filing notes risks related to environmental regulation, market conditions, and operational factors affecting its power plants. The company also faces uncertainties in its strategic outlook and business drivers.
Liquidity and capital
The management discussion addresses liquidity and capital resources, indicating the company manages its cash and capital allocation through operating cash flow and other financial activities.
What to watch
Monitor any material changes in the company's revenue trend or operating cash flow in the upcoming quarterly filing.