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Utilities Stocks — Earnings Quality & Moat Analysis
6 companies · Peer comparison
Utility earnings quality is governed by regulatory rate-base mechanics and allowed ROE settlements. Evaluate utilities through the lens of rate-base growth, capex-spend-and-recovery cadence, and exposure to extreme-weather catastrophe-recovery frameworks. The moat is structural (state-granted regulated franchise) and the question is execution quality within the rate-case process.
| Company | Score | GM | ROE | CF/NI | FCF | GW/A |
|---|---|---|---|---|---|---|
| CEGConstellation Energy2025 | C77 | — | 16.0% | 1.83x | $1.3B | 0.7% |
| NEENEXTERA ENERGY, INC.2025 | D68 | — | 12.5% | 1.83x | $12.5B | 2.3% |
| SOThe Southern Company2025 | D64 | — | 12.1% | 2.26x | $-2.9B | 3.3% |
| SRESEMPRA2025 | D64 | — | 5.8% | 2.49x | $-6.0B | — |
| DUKDUKE ENERGY CORPORATION2025 | F59 | — | 9.6% | 2.48x | $-1.7B | 9.7% |
| DDOMINION ENERGY, INC.2025 | F58 | — | 10.3% | 1.79x | $5.4B | 3.6% |
Strong Moderate WeakGM = Gross Margin · ROE = Return on Equity · CF/NI = Cash Flow/Net Income · FCF = Free Cash Flow · GW/A = Goodwill/Assets