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Duke Energy Corporation, through its subsidiaries, operates as an energy company in the United States. The company operates through two segments: Electric Utilities and Infrastructure (EU&I); and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity to customers in the Southeast and Midwest regions. It generates electricity through coal, hydroelectric, natural gas, oil, renewables, and nuclear fuel. This segment also engages in the wholesale of electricity to municipalities, electric cooperative utilities, and other load-serving entities. The GU&I segment distributes natural gas to customers in the residential, commercial, industrial, and power generation natural gas sectors; and invests in pipeline transmission projects, renewable natural gas projects, and natural gas storage facilities. The company was formerly known as Duke Energy Holding Corp. and changed its name to Duke Energy Corporation in April 2006. Duke Energy Corporation was founded in 1904 and is headquartered in Charlotte, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $32.2B | $17.1B | $5.0B | $-1.7B | 9.8% | 6.2% | 9.8% |
| 2024 | $30.4B | $15.0B | $4.5B | $48M | 9.2% | 4.5% | 59.2% |
| 2023 | $29.1B | $13.9B | $2.8B | $-2.7B | 6.0% | 1.0% | 11.4% |
| 2022 | $28.8B | $12.4B | $2.5B | $-5.4B | 5.4% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 28,768 | 29,060 | 30,357 | 32,237 |
| Operating Revenue | - | 28,768 | 29,060 | 30,357 | 32,237 |
| Cost Of Revenue | - | 15,792 | 15,304 | 15,160 | 15,739 |
| Gross Profit | - | 12,976 | 13,756 | 15,197 | 16,498 |
| Operating Expense | - | 6,552 | 6,653 | 7,259 | 7,921 |
| Total Expenses | - | 22,344 | 21,957 | 22,419 | 23,660 |
| Operating Income | - | 6,424 | 7,103 | 7,938 | 8,577 |
| Total Operating Income As Reported | - | 6,012 | 7,070 | 7,926 | 8,626 |
| EBITDA | - | 12,360 | 13,865 | 14,997 | 17,050 |
| Normalized EBITDA | - | 12,575 | 13,700 | 14,776 | 16,673 |
| EBIT | - | 6,517 | 7,781 | 8,578 | 9,346 |
| Interest Income | - | 27 | 29 | 63 | 51 |
| Interest Expense | - | 2,439 | 3,014 | 3,384 | 3,634 |
| Net Interest Income | - | -2,412 | -2,985 | -3,321 | -3,583 |
| Other Non Operating Income Expenses | - | 168 | 371 | 365 | 290 |
| Other Income Expense | - | 66 | 649 | 577 | 718 |
| Interest Income Non Operating | - | 27 | 29 | 63 | 51 |
| Interest Expense Non Operating | - | 2,439 | 3,014 | 3,384 | 3,634 |
| Net Non Operating Interest Income Expense | - | -2,412 | -2,985 | -3,321 | -3,583 |
| Pretax Income | - | 4,078 | 4,767 | 5,194 | 5,712 |
| Tax Provision | - | 300 | 438 | 590 | 642 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -15.82 | 15.16 | 25.10 | 42.37 |
| Net Income Continuous Operations | - | 3,778 | 4,329 | 4,604 | 5,070 |
| Net Income From Continuing And Discontinued Operation | - | 2,550 | 2,841 | 4,524 | 4,968 |
| Net Income From Continuing Operation Net Minority Interest | - | 3,873 | 4,296 | 4,514 | 4,967 |
| Net Income | - | 2,550 | 2,841 | 4,524 | 4,968 |
| Net Income Common Stockholders | - | 2,444 | 2,735 | 4,402 | 4,912 |
| Net Income Including Noncontrolling Interests | - | 2,455 | 2,874 | 4,614 | 5,071 |
| Normalized Income | - | 4,072.18 | 4,146.16 | 4,318.10 | 4,632.37 |
| Diluted NI Availto Com Stockholders | - | 2,444 | 2,735 | 4,402 | 4,912 |
| Basic Average Shares | - | 770 | 771 | 772 | 777 |
| Diluted Average Shares | - | 770 | 771 | 772 | 777 |
| Reconciled Depreciation | - | 5,843 | 6,084 | 6,419 | 7,704 |
| Reconciled Cost Of Revenue | - | 15,035 | 14,473 | 14,534 | 14,359 |
| Total Unusual Items | - | -215 | 165 | 221 | 377 |
| Total Unusual Items Excluding Goodwill | - | -215 | 165 | 221 | 377 |
| Preferred Stock Dividends | - | 106 | 106 | 106 | 56 |
| Minority Interests | - | 95 | -33 | -90 | -103 |
| Net Income Discontinuous Operations | - | -1,323 | -1,455 | 10 | 1 |
| Special Income Charges | - | -215 | 165 | 221 | 377 |
| Other Special Charges | - | -197 | -198 | -233 | -328 |
| Write Off | - | 434 | 85 | 38 | -4 |
| Depreciation Amortization Depletion Income Statement | - | 5,086 | 5,253 | 5,793 | 6,324 |
| Depreciation And Amortization In Income Statement | - | 5,086 | 5,253 | 5,793 | 6,324 |
| Gain On Sale Of Ppe | - | 22 | 52 | 26 | 45 |
| Otherunder Preferred Stock Dividend | - | 0 | 0 | 16 | 0 |
| Earnings From Equity Interest | - | 113 | 113 | -9 | 51 |
| Other Taxes | - | 1,466 | 1,400 | 1,466 | 1,597 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Duke Energy Corporationthis co. | DUK | $95.0B | 19.33↓ discount | 1.83 | 9.5% | 10.89 |
| The Southern Company | SO | $103.3B | 23.79 | 2.87 | 12.1% | 12.32 |
| Constellation Energy Corporation | CEG | $94.5B | 40.74 | 6.51 | 16.0% | 16.75 |
| American Electric Power Company, Inc. | AEP | $69.5B | 19.42 | 2.23 | 11.5% | 12.86 |
| Sempra | SRE | $59.1B |
| - |
| - |
| - |
| - |
| - |
| - |
| 32.15 |
| 1.87 |
| 5.8% |
| 17.87 |
| Dominion Energy, Inc. | D | $58.5B | 19.51 | 2.08 | 10.7% | 12.89 |
| Vistra Corp. | VST | $51.8B | 54.90 | 19.77 | 36.0% | 14.07 |
| Entergy Corporation | ETR | $50.0B | 28.22 | 2.96 | 10.5% | 12.86 |
| Xcel Energy Inc. | XEL | $48.5B | 24.06 | 2.06 | 8.5% | 13.40 |
| Peer Median | - | 26.14 | 2.55 | 11.1% | 13.14 | |