NEENEXTERA ENERGY INC

Electric Services

Revenue: $25.8B; 9.8% YoY
Operating margin: 32.1%; 0.8% YoY
EBITDA: $14.9B; 15% YoY
Market cap: $174.5B
Employees: 9,400; $3M revenue each
Net debt / EBITDA: 6.2×; $92.0B net debt
AI in 10-K: 1.6; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
183% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
37% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
2% of assets
Over 40% of assets
Shareholder dissentNo
100% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$3M · 70th pct
Bottom quartile of its SIC industry
Quiet on AINo
1.6 per 10K words · 47th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
6.2× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$174.5B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$31M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$18.8B	$23.0B	$24.8B	$23.5B	$25.8B	9.8%
Operating income	$2.9B	$4.1B	$10.2B	$7.5B	$8.3B	11%
Net income	$3.6B	$4.1B	$7.3B	$6.9B	$6.8B	1.6%
Operating cash flow	$7.6B	$8.3B	$11.3B	$13.3B	$12.5B	5.8%
Stock-based comp	$119M	$142M	$139M	$138M	$185M	34%
Dividends	$3.0B	$3.4B	$3.8B	$4.2B	$4.7B	11%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $31M · 17
Net: −$31M

Pay vs performance

No pay-versus-performance disclosure yet.