NextEra Energy, Inc. (NEE) Revenue-to-Profit Sankey Flow & SEC XBRL Financials
NextEra Energy, Inc. (NEE) carries a Roarable Rating of D+ (Sell) with 58/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh money.
How NEE Turns Every Dollar of Sales Into Real Bottom-Line Profit
Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory
| Fiscal Year | Revenue | Gross Margin | Op Margin | Net Profit | Free Cash Flow | ROIC % |
|---|---|---|---|---|---|---|
| FY 2025 | $25.80B | 52% | 32.1% | $6.83B | $12.48B | 4.5% |
| FY 2024 | $23.50B | 52% | 31.8% | $6.95B | $13.26B | 4.6% |
| FY 2023 | $24.80B | 52% | 41.3% | $7.31B | $11.30B | 7.2% |
| FY 2022 | $23.00B | 52% | 17.7% | $4.15B | $8.26B | 3.2% |
| FY 2021 | $18.80B | 52% | 15.5% | $3.57B | $7.55B | 2.6% |
| FY 2020 | $17.00B | 52% | 30.1% | $2.92B | $7.98B | 5% |
NextEra Energy's FY2025 10-K (accession 0000753308-26-000015) signals escalating operational, supply chain, and capital expenditure headwinds across both FPL and NEER. Disclosures reflect mounting regulatory scrutiny around hyperscale data center interconnection queues, tariff/AD-CVD exposure on imported battery and solar cells, and surging capital expenditure commitments under elevated interest rates. The modifications strip away prior hedging assurances, signaling potential margin dilution and development delays in the unregulated renewables backlog.
Management can no longer guarantee project commissioning schedules for lucrative hyperscale PPA contracts (Google, Microsoft, Meta). Regulators and regional RTOs are pushing back against utility infrastructure buildout costs being shifted to rate payers, exposing NEER to liquidated damages and contract cancellation risks on late-stage pipeline assets.
Supply chain hedges and domestic content procurement have broken down under heightened customs enforcement and expanding AD/CVD duties on Asian LFP battery cells and module precursors. Project IRRs face direct margin compression as replacement domestic hardware carries massive premiums and lead times exceeding 24 months.
With a consolidated Debt/Equity ratio near 1.77x and an Altman Z-score hovering near 1.08, debt service is compounding against elevated capex commitments. Management is alerting credit markets that FCF generation and ROE metrics will deteriorate as billions in maturing low-coupon debt roll over into significantly higher refinancing rates.
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NEE Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure
SEC XBRL FY2024 → FY2025: Disciplined near-zero share dilution.
vs. +7.5% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
No active Ellis Vennor swing setup published on NEE today. View full Setup Ledger →
No direct multi-tier Butterfly edges indexed yet for NEE. Explore sector supply chains on /butterfly.
NEE Investor FAQ & Complete 8-Part Research Index
100% OPEN ACCESS • SEC EDGAR × CBOE × FREDHow profitable is NextEra Energy, Inc. (NEE)?
In FY 2025 (10-K), NEE converted $25.8B of revenue into a 52% gross margin, 32.1% operating margin, and $12.5B in free cash flow (48.4% FCF margin).