CEG
Constellation Energy Corporation

Constellation Energy CorporationCEG

Utilities · Utilities - Independent Power Producers
263.46USD
+0.52%
Sep 23, 2026
CEG overview ready
Provider of Dispatchable Nuclear and Gas Capacity for Large-Load Power Contracts
Constellation is a direct owner-operator and marketer of firm generation capacity.
Direct narrative exposure
Exposed to the Dispatchable Power for Large Loads narrative through Independent Power Producers and Power Contracts — pure play.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Fair valuation
The price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.
Fundamentals under pressure
Free cash flow yield is weak.
Primary risk
Regulatory changes impacting nuclear and renewable energy operations.
Market Sep 22Filing Jun 30Price action Sep 22Research Aug 30

Conviction Level

NarrativeHeat9.1ThemeHeat9.0PriceAction3.4Valuation4.1CompanyPosition9.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$93.3B
Avg Volume (60D)
2.8M
60 sessions
Revenue Growth YoY
+19.5%
FY2025 vs FY2024
Gross Margin
+17.4%
Trailing twelve months
Operating Margin
+18.5%
Trailing twelve months
Free Cash Flow Yield
+0.3%
Distance from 200DMA
-9.5%
Next Earnings
2026-11-09
P/E
26.9x
EV / EBITDA
13.6x
EV / Sales
4.5x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say fair; intrinsic is the dissenting view.
Constellation Energy Corporation has a Fair valuation stance because the price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.

What changed

  • Price structure deteriorated
    CEG: behavior moved from constructive pullback to damaged structure, and weekly structure moved from uptrend to downtrend.
    2026-09-20
  • Constellation Energy (CEG) Stock May Be Below Fair Value Despite $715 Million Power Plant Deal
    Dated 2026-09-14. CEG closed -7.1% while the broad market was close to flat (-0.5%).
    2026-09-14 · source
  • CEG, SHEL Stocks Rise Overnight: Constellation Energy To Acquire Rhode Island State Energy Center From Shell For $715M
    Dated 2026-09-11.
    2026-09-11 · source
  • TSLA, a Energy Security and Electrification peer of CEG, had a material event
    Dated 2026-08-25.
    2026-08-25

Company Research

Thesis
Constellation is a direct owner-operator and marketer of firm generation capacity. Its nuclear fleet, expanded gas and geothermal portfolio following the Calpine acquisition, and commercial contracting operations allow it to sell reliable power and structured long-term supply arrangements to corporate and other large-load customers.
Opportunity
Moderate opportunity
Large electricity users, especially data centers and industrial loads, are seeking firm capacity and long-duration power arrangements in constrained U.S. Power markets.
Key risk
Regulatory changes impacting nuclear and renewable energy operations.

Narrative & Theme

Dispatchable Power for Large Loads
Part of Independent Power Producers and Power Contracts, with strong fit.
Capacity, and long-term contracted power. It operates a large U.S.
Narrative HeatHot9.1 / 10
Theme HeatHot9.0 / 10

Business & Markets

Utilities · Utilities - Independent Power Producers
What they do

Constellation Energy Corporation produces and sells electricity, natural gas, and energy-related products across multiple U.S. Regions, operating a diverse generation portfolio including nuclear, wind, solar, natural gas, and hydroelectric assets.

How it earns

The company generates revenue primarily through transactional sales of energy and related services to utilities, municipalities, cooperatives, and various commercial and residential customers.

Products & services
Electricity
Natural gas
Energy-related products
Sustainable energy solutions
Customers & end markets
Distribution utilities
Municipalities
Cooperatives
Commercial customers
Industrial customers
Public sector customers
Residential customers
Market position

Leader in independent power production with a diversified generation mix and significant nuclear capacity.

Demand drivers
Medium cyclicality

Energy demand and prices can fluctuate with economic cycles and regulatory changes, but diversified assets provide some stability.