Duke Energy CORP (DUK)
Utilities · Electric Utilities · US stock · S&P 500 component
$125.40
▲ +4.73 (3.92%)
Fair valueFair
$123 −2.0% to fair value
$61fair band $105–$149$184
Day's range
$121.24 – $125.48
52-week range
$112.40 – $134.49
About Duke Energy CORP
Duke Energy is a large regulated utility holding company that provides electricity and natural gas service to customers in several states in the Carolinas, Florida, the Midwest and nearby areas. It generates power from nuclear, natural gas, coal, hydro and renewable sources, then delivers it through its own grid. Revenue is determined mainly by rates approved by state regulators that allow cost recovery and an authorized return.
Over the last twelve months Duke Energy CORP reported revenue of $32.5 billion, which expanded at 3.4% a year across three years. Its operating margin is 27.7% and its return on invested capital is 5%. Leverage, measured as net debt to EBITDA, is 5.2 times. A dividend is paid, with a yield of 3.4%. The X-Ray Score is 58 out of 100, a summary of these measures.
DUK news
All DUK news →Price chart
52-wk range $112.40 – $134.49Volume 4,777,051Daily, split-adjusted
Vitals
Market cap$97.7B
52-week range$112.40 – $134.49
Volume (last day)4,777,051
P/E (TTM)19.0
EBIT / EV yield4.8%
Free-cash-flow yield-3.4%
Dividend yield3.4%
Revenue (TTM)$32.5B
Net income (TTM)$5.1B
Operating margin27.7%
Return on capital5.5%
Debt incl. leases$90.2B
Cash & securities$2.1B
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
$123middle half of models $105 – $136
Fair
−2.0% to fair value
Average of the 14 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 $125
Undervalued < $105Fair $105 – $149Overvalued > $149
P/E multiple
$128
P/B multiple
$123
P/S multiple
$125
EV/EBITDA multiple
$142
EV/EBIT multiple
$141
EV/revenue multiple
$124
10-year DCF, EBITDA exit
$89
5-year DCF, EBITDA exit
$116
10-year DCF, revenue exit
$87
5-year DCF, revenue exit
$112
10-year DCF, growth exit
$76
5-year DCF, growth exit
$102
Dividend discount, stable
$217
Dividend discount, multi-stage · not used
$407
Earnings power value
$139
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
Average business, fairly priced
The price sits inside our fair-value band. 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
57/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.8%
Free-cash-flow yield-3.4%
Fair value vs price1.0×
Growth
Fair
62/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)3.4%
EPS growth (3y)25.8%
Growth consistency90%
Profitability
Fair
65/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital5.5%
Operating margin27.7%
Financial health
Weak
48/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA5.2×
Interest cover2.4×
Dividends
Fair
51/100
Dividend is typical for its sector.
See the numbers →
Dividend yield3.4%
Dividend growth1.3%
Quarterly results: last 6 quarters
+1.6%
Dec '24
+9.1%
Mar '25
+3.1%
Jun '25
+3.1%
Sep '25
+7.4%
Dec '25
+9.5%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $9.0B, diluted EPS $1.97.
Compare with peers
EIX Edison International71 ES Eversource Energy65 EXC Exelon Corp62 AEP American Electric Powe...58Other Electric Utilities companies by X-Ray Score.
SWOT analysis: Duke Energy CORP
Strengthsinside the company
- Earnings per share have compounded at 25.8% a year over three years.
Weaknessesinside the company
- Return on invested capital is only 5.5% (median 5.5% for industry peers), so the business earns little above its cost of capital.
- Free cash flow is negative, so spending or debt has to be financed from outside.
- Net debt is 5.2x EBITDA, above the 3x level that lenders usually watch.
- Operating profit covers interest only 2.4x.
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
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 DUK with peers and sector
Medians of 14 Electric Utilities peers and of 30 Utilities stocks in our universe.
Largest peers (X-Ray Score): SO 45, CEG 49, AEP 58, ETR 43, VST 53, EXC 62.
| Metric | DUK | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 58 | 51 | 50 |
| Valuation | 57 | 49 | 49 |
| Growth | 62 | 53 | 53 |
| Profitability | 65 | 53 | 49 |
| Financial health | 48 | 55 | 52 |
| Dividends | 51 | 51 | 55 |
Sector leaders: highest X-Ray Score in Utilities
DUK ranks #6 of 31 in Utilities and #4 of 15 in Electric 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 DUK
Each factor is rated by where DUK 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: 6 Good · 12 Average · 1 Bad of 19
Growth: 1 · 1 · 1
Profitability: 1 · 3 · 0
Financial strength: 1 · 3 · 0
Valuation: 3 · 2 · 0
Cash flow: 0 · 3 · 0
| Factor | DUK | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +3.4% | Average beats 55% | +3.4% | – | – |
| Revenue growth, last year | +5.6% | Bad beats 28% | +9.6% | +5.3% | ≈ In line |
| EPS growth, 3 years a year | +25.8% | Good beats 83% | +8.1% | – | – |
| Profitability | |||||
| Operating margin | 27.7% | Good beats 82% | 22.9% | 24.7% | ▲ Better |
| Net margin | 15.8% | Average beats 65% | 14.4% | 15.1% | ≈ In line |
| Return on invested capital | 5.5% | Average beats 60% | 5.5% | – | – |
| Return on equity | 9.4% | Average beats 37% | 10.1% | 7.9% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 5.2x | Good beats 78% | 5.8x | 6.0x | ▲ Better |
| Interest cover | 2.4x | Average beats 40% | 2.5x | 2.4x | ≈ In line |
| Current ratio | 0.66 | Average beats 34% | 0.78 | 0.67 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 58% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 19.0x | Good beats 76% | 21.8x | 20.6x | ≈ In line |
| Price / book | 1.8x | Good beats 73% | 2.1x | 1.6x | ≈ In line |
| Price / sales | 3.0x | Average beats 45% | 2.9x | 2.8x | ≈ In line |
| EV / EBITDA | 11.1x | Good beats 79% | 14.0x | 11.7x | ≈ In line |
| Free cash flow yield | -3.4% | Average beats 65% | -4.9% | -1.9% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | -10.1% | Average beats 45% | -9.1% | -5.8% | ▼ Worse |
| Cash from operations / net income | 2.27 | Average beats 60% | 2.20 | 2.48 | ≈ In line |
| Accruals (lower is better) | −3.3% | Average beats 53% | −3.3% | – | – |
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
● 5 Good · ● 8 Average · ● 1 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Good
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDAGood
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 62/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $24.5B | $28.7B | $28.7B | $30.1B | $31.7B |
| Operating income | $5.5B | $6.0B | $7.1B | $7.9B | $8.6B |
| Net income | $3.9B | $2.6B | $2.8B | $4.5B | $5.0B |
| Operating cash flow | $8.3B | $5.9B | $9.9B | $12.3B | $12.3B |
| Operating margin | 22.5% | 21.0% | 24.7% | 26.4% | 27.2% |
| Free cash flow | −$1.4B | −$5.4B | −$2.7B | $48M | −$1.7B |
| Diluted EPS | $4.94 | $3.17 | $3.54 | $5.71 | $6.31 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
10 bullish · 1 neutral · 1 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 119.9 | Bullish |
| EMA 10 | 120.3 | Bullish |
| SMA 20 | 117.2 | Bullish |
| EMA 20 | 118.9 | Bullish |
| SMA 50 | 118.9 | Bullish |
| EMA 50 | 119.2 | Bullish |
| SMA 100 | 121.7 | Bullish |
| EMA 100 | 120.6 | Bullish |
| SMA 200 | 122.7 | Bullish |
| EMA 200 | 120.8 | Bullish |
Oscillators (daily)
| RSI (14) | 69.97 | Neutral |
| MACD (12, 26) | 1.18 | Bullish |
| Momentum (12) | 8.42 | Bullish |
| Stochastic %K (14) | 99.34 | Bearish |
| Williams %R (14) | -0.66 | Bearish |
| CCI (20) | 173.1 | Bearish |
Pivot points (classic, last session)
S3 118.4 | S2 119.8 | S1 122.6 | Pivot 124.0 | R1 126.8 | R2 128.3 | R3 131.1 |
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
4.28 USD
Yield on today's price
3.41%
Frequency
Quarterly
Next ex-dividend date
13 Nov 2026
| Ex-dividend date | Amount per share |
|---|---|
| (upcoming) | 1.0850 |
| 1.0850 | |
| 1.0650 | |
| 1.0650 | |
| 1.0650 | |
| 1.0650 | |
| 1.0450 | |
| 1.0450 | |
| 1.0450 | |
| 1.0450 | |
| 1.0250 | |
| 1.0250 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold DUK
| ETF | Share of the fund |
|---|---|
| XLU Utilities Select Sector SPDR | 6.95% |
| FUTY Fidelity MSCI Utilities Index | 6.36% |
| VPU Vanguard Utilities | 6.28% |
| IDU iShares U.S. Utilities | 6.03% |
| IFRA iShares U.S. Infrastructure | 2.67% |
| IGF iShares Global Infrastructure | 2.64% |
| FDL First Trust Morningstar Dividend Leade... | 2.21% |
| MFSV MFS Active Value | 2.13% |
The eight funds with the largest weight in DUK 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.
DUK stock splits
DUK has split its stock 3 times since 1990. The latest was a 1-for-3 reverse split on 3 Jul 2012.
Full DUK stock split history →DUK SEC filings
8-KSEC EDGAR
Director or officer change; Other events
8-KSEC EDGAR
Other events
424B5SEC EDGAR
424B5
424B5SEC EDGAR
424B5
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Regulation FD disclosure
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.