Dominion Energy, Inc (D)
Utilities · Multi-Utilities · US stock · S&P 500 component
$65.40
▲ +3.07 (4.93%)
Fair valueUndervalued
$82 +25.6% to fair value
$41fair band $70–$100$123
Day's range
$62.73 – $65.43
52-week range
$55.85 – $72.99
About Dominion Energy, Inc
Dominion Energy is a utility holding company that generates, transmits and delivers electricity and natural gas. Its regulated electric utility serves customers in Virginia and South Carolina, while its gas utilities deliver natural gas to homes and businesses in several states. The company operates nuclear, gas and solar generation and is building an offshore wind project off the Virginia coast. Customers are households, businesses and industrial users who pay regulated rates.
Revenue comes mainly from regulated charges for power and gas, with rates set to recover costs and allow a return on invested capital. Revenue was $17.5 billion over the last twelve months, with growth of 4.3% a year across the last three years. The operating margin is 26.2%, and the business earns a profit of 5% on the capital invested in it. Net debt is 7.3 times EBITDA. A dividend is paid, with a yield of 4.1%. On the site's X-Ray Score it receives 53 out of 100.
Price chart
52-wk range $55.85 – $72.99Volume 5,262,426Daily, split-adjusted
Vitals
Market cap$57.6B
52-week range$55.85 – $72.99
Volume (last day)5,262,426
P/E (TTM)19.1
EBIT / EV yield4.0%
Free-cash-flow yield–
Dividend yield4.1%
Revenue (TTM)$17.5B
Net income (TTM)$3.0B
Operating margin26.2%
Return on capital4.9%
Debt incl. leases$51.8B
Cash & securities$351M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$82middle half of models $63 – $105
Undervalued
+25.6% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $65
Undervalued < $70Fair $70 – $100Overvalued > $100
P/E multiple
$67
P/B multiple
$61
P/S multiple
$63
EV/EBITDA multiple
$63
EV/EBIT multiple
$69
EV/revenue multiple
$58
10-year DCF, EBITDA exit
$125
5-year DCF, EBITDA exit
$105
10-year DCF, revenue exit
$126
5-year DCF, revenue exit
$105
10-year DCF, growth exit
$102
5-year DCF, growth exit
$80
Dividend discount, stable · not used
$225
Dividend discount, multi-stage · not used
$343
Earnings power value
$44
Growth the price implies
10.7%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, but the price is low
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Utilities peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
60/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.0%
Fair value vs price1.3×
Growth
Strong
72/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)4.3%
EPS growth (3y)37.4%
Growth consistency70%
Profitability
Weak
33/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital4.9%
Operating margin26.2%
Financial health
Fair
57/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA7.3×
Interest coverNo interest cost
Dividends
Weak
40/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield4.1%
Dividend growth1.0%
Quarterly results: last 6 quarters
-3.8%
Dec '24
+12.5%
Mar '25
+9.3%
Jun '25
+14.9%
Sep '25
+20.4%
Dec '25
+24.6%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $5.1B, diluted EPS $0.69.
Compare with peers
ED Consolidated Edison In...70 NI Nisource Inc.54 AEE Ameren Corp54 DTB Dte Energy Co54Other Multi-Utilities companies by X-Ray Score.
SWOT analysis: Dominion Energy, Inc
Strengthsinside the company
- Earnings per share have compounded at 37.4% a year over three years.
- Operating profit covers interest 50x, so debt costs are a small drag.
- Passes 7 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- Return on invested capital is only 4.9% (median 4.8% for industry peers), so the business earns little above its cost of capital.
- Net debt is 7.3x EBITDA, above the 3x level that lenders usually watch.
- Altman Z-score of 0.5 is in the zone linked with financial distress in past studies.
Opportunitiesvaluation and setting
- Revenue growth picked up to 14.3% last year from 4.3% a year over three years.
- The price is 26% below our fair value estimate, with the gap larger than the margin we allow for error.
Threatsvaluation and setting
- Heavy debt makes profits sensitive to interest rates and refinancing conditions.
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
- Our Market Compass rates the backdrop for Utilities as unfavourable.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare D with peers and sector
Medians of 11 Multi-Utilities peers and of 30 Utilities stocks in our universe.
Largest peers (X-Ray Score): NEE 45, SRE 33, XEL 27, ED 70, AEE 54, PCG 39.
| Metric | D | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 53 | 45 | 50 |
| Valuation | 60 | 40 | 49 |
| Growth | 72 | 50 | 53 |
| Profitability | 33 | 41 | 50 |
| Financial health | 57 | 46 | 51 |
| Dividends | 40 | 55 | 55 |
Sector leaders: highest X-Ray Score in Utilities
D ranks #13 of 31 in Utilities and #5 of 12 in Multi-Utilities by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for D
Each factor is rated by where D stands among the 31 Utilities stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 9 Good · 5 Average · 5 Bad of 19
Growth: 3 · 0 · 0
Profitability: 2 · 1 · 1
Financial strength: 2 · 1 · 1
Valuation: 1 · 2 · 1
Cash flow: 1 · 0 · 2
Efficiency: 0 · 1 · 0
| Factor | D | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +4.3% | Good beats 75% | +3.4% | – | – |
| Revenue growth, last year | +14.3% | Good beats 88% | +9.6% | +0.5% | ▲ Better |
| EPS growth, 3 years a year | +37.4% | Good beats 94% | +8.1% | – | – |
| Profitability | |||||
| Operating margin | 26.2% | Good beats 78% | 22.9% | 22.5% | ▲ Better |
| Net margin | 16.9% | Good beats 72% | 14.4% | 14.1% | ▲ Better |
| Return on invested capital | 4.9% | Bad beats 27% | 5.5% | – | – |
| Return on equity | 10.1% | Average beats 50% | 10.1% | 7.6% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 7.3x | Bad beats 22% | 5.8x | 7.4x | ≈ In line |
| Interest cover | 50.0x | Good beats 94% | 2.5x | – | – |
| Current ratio | 0.78 | Average beats 50% | 0.78 | 0.77 | ≈ In line |
| Piotroski F-score | 7 / 9 | Good beats 87% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 19.5x | Good beats 69% | 21.8x | 20.0x | ≈ In line |
| Price / book | 2.0x | Average beats 60% | 2.1x | 1.7x | ≈ In line |
| Price / sales | 3.3x | Average beats 38% | 2.9x | 3.1x | ≈ In line |
| EV / EBITDA | 16.2x | Bad beats 21% | 14.0x | 15.5x | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 28.9% | Good beats 85% | -9.1% | 34.6% | ▼ Worse |
| Cash from operations / net income | 1.71 | Bad beats 18% | 2.20 | 2.47 | ▼ Worse |
| Accruals (lower is better) | −1.8% | Bad beats 8% | −3.3% | – | – |
| Efficiency | |||||
| Days sales outstanding | 50 days | Average beats 34% | 44 days | 55 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 6 Good · ● 1 Average · ● 6 BadCash quality
Earnings backed by cashBad
Risk models
Altman Z''Bad
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Revenue growth (3y)Good
Growth consistencyBad
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverGood
Valuation
Fair value vs priceGood
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 49/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $11.7B | $14.6B | $14.4B | $14.5B | $16.5B |
| Operating income | $2.0B | $1.4B | $3.4B | $3.2B | $4.4B |
| Net income | $3.4B | $1.2B | $2.0B | $2.0B | $3.0B |
| Operating cash flow | $4.0B | $3.7B | $6.6B | $5.0B | $5.4B |
| Operating margin | 17.1% | 9.9% | 23.7% | 22.5% | 26.7% |
| Free cash flow | – | – | – | – | – |
| Diluted EPS | $4.12 | $1.33 | $2.25 | $2.33 | $3.45 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
11 bullish · 1 neutral · 4 bearish
Weekly
Bullish
8 bullish · 1 neutral · 3 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 62.84 | Bullish |
| EMA 10 | 62.97 | Bullish |
| SMA 20 | 61.94 | Bullish |
| EMA 20 | 62.73 | Bullish |
| SMA 50 | 63.92 | Bullish |
| EMA 50 | 63.69 | Bullish |
| SMA 100 | 66.05 | Bearish |
| EMA 100 | 64.31 | Bullish |
| SMA 200 | 63.64 | Bullish |
| EMA 200 | 63.23 | Bullish |
Oscillators (daily)
| RSI (14) | 63.70 | Neutral |
| MACD (12, 26) | 0.00 | Bullish |
| Momentum (12) | 5.48 | Bullish |
| Stochastic %K (14) | 99.39 | Bearish |
| Williams %R (14) | -0.61 | Bearish |
| CCI (20) | 192.4 | Bearish |
Pivot points (classic, last session)
S3 60.92 | S2 61.83 | S1 63.61 | Pivot 64.52 | R1 66.31 | R2 67.22 | R3 69.00 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.67 USD
Yield on today's price
4.08%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 | |
| 0.6675 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold D
| ETF | Share of the fund |
|---|---|
| XLU Utilities Select Sector SPDR | 4.23% |
| FUTY Fidelity MSCI Utilities Index | 3.96% |
| VPU Vanguard Utilities | 3.76% |
| IDU iShares U.S. Utilities | 3.76% |
| SPHD Invesco S&P 500 High Dividend Low Vola... | 2.13% |
| MFSV MFS Active Value | 1.82% |
| IFRA iShares U.S. Infrastructure | 1.62% |
| AIPO Defiance AI & Power Infrastructure | 1.59% |
The eight funds with the largest weight in D among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
D stock splits
D has split its stock 2 times since 1992. The latest was a 2-for-1 split on 20 Nov 2007.
Full D stock split history →D SEC filings
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Shareholder vote results
8-KSEC EDGAR
Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Other events
424B5SEC EDGAR
424B5
8-KSEC EDGAR
Other events
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.