Utility stocks: 14 companies analyzed
The 14 utilities and renewables companies Fintols covers, such as Duke Energy, NextEra Energy and Southern Company: P/E, growth, margin and dividend with dated figures.
Utilities generate, transmit, distribute and sell electricity, and many also deliver natural gas. Much of the business is regulated: transmission and distribution networks earn a return set by regulators based on the assets they own, often called the rate base. Other parts, such as power generation and retail supply, may be competitive. Renewable developers typically sell their output through long-term contracts with large buyers or under regulated tariffs, which gives good visibility on revenue. Some operate in several countries, which diversifies the business but adds regulatory and currency risk.
High debt is normal here. Grids and power plants are expensive and get paid off over decades from steady revenue, so a debt to EBITDA ratio that would alarm you elsewhere can be perfectly reasonable for a utility. What matters more is the quality of the regulated assets, the allowed return and the capital spending plan. Look at how sustainable the dividend is, since it is the main draw, and at interest rate sensitivity: higher rates raise borrowing costs and make bonds a tougher rival.
Risks include regulatory changes and windfall taxes, rising interest rates, power price swings in the unregulated parts, extreme weather and delays or cost overruns on big projects. For beginners, these are steady businesses but not bulletproof. A generous dividend propped up by ever-growing debt, without matching growth in cash flow, deserves a closer look before you take that yield at face value. Compare utilities within the same state or country.
With data as of November 4, 2026, of the 14 utilities and renewables companies Fintols covers, the largest by market value is NextEra Energy ($185.5 billion) among those quoted in dollars and Iberdrola (€150.8 billion) among those quoted in euros, the fastest-growing in its latest quarter is Solaria (+38.8% in sales) and the highest dividend yield belongs to Naturgy (8.13%). The typical company in the group trades on a P/E of 19.9x and keeps a net margin of 14.5% (medians). Figures come from Yahoo Finance, the same source the Fintols analysis uses; N/A means the figure is not available.
Utility companies on Fintols
| Company | Market cap | P/E | Revenue growth | Net margin | Dividend yield |
|---|---|---|---|---|---|
| NextEra Energy (NEE) | $185.5 billion | 15.9x | +1.6% | 40.4% | 2.96% |
| Iberdrola (IBE) | €150.8 billion | 30.5x | +15.9% | 14.7% | 3.08% |
| Southern Company (SO) | $107.1 billion | 22.4x | +0.1% | 15.4% | 3.24% |
| Duke Energy (DUK) | $101.0 billion | 19.5x | +1.1% | 16.0% | 3.43% |
| Enel (ENEL.MI) | €96.2 billion | 23.0x | +8.5% | 5.7% | 5.58% |
| Constellation Energy (CEG) | $87.1 billion | 24.0x | +23.0% | 11.1% | 0.65% |
| American Electric Power (AEP) | $70.4 billion | 21.1x | +13.7% | 14.2% | 2.99% |
| Endesa (ELE) | €45.5 billion | 18.8x | +27.0% | 10.9% | 3.62% |
| Vistra (VST) | $40.4 billion | 20.3x | -5.5% | 11.6% | 0.66% |
| Naturgy (NTGY) | €27.3 billion | 13.6x | +14.1% | 10.4% | 8.13% |
| Redeia (RED) | €8.4 billion | 16.6x | +9.2% | 30.0% | 5.23% |
| Acciona Energía (ANE) | €7.1 billion | 38.2x | -34.4% | 5.5% | 0.14% |
| Enagás (ENG) | €4.6 billion | 13.0x | -9.1% | 30.1% | 5.69% |
| Solaria (SLR) | €2.1 billion | 8.5x | +38.8% | 48.6% | 0.00% |
Utility comparisons
- Endesa vs Iberdrola
- Iberdrola vs Naturgy
- Iberdrola vs Redeia
- Endesa vs Naturgy
- Enagás vs Redeia
- Duke Energy vs Southern Company
- Duke Energy vs NextEra Energy
- Constellation Energy vs Duke Energy
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