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Dominion Energy (D) stock

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NYSE: D NYSE Multi-Utilities Next results ~January 29, 2027

B+ Fundamentals grade

Dominion Energy, based in Richmond, Virginia, is a regulated utility holding company incorporated in 1983. Through its subsidiary Virginia Power, it generates, transmits and distributes electricity across Virginia and North Carolina, operating under the Dominion Energy Virginia and Dominion Energy North Carolina brands. It also owns Dominion Energy South Carolina (DESC) and a Contracted Energy business, which includes long-term contracted generation such as offshore wind and solar.

The company serves around 4.1 million electric customers, mainly residential, commercial, industrial and governmental, plus wholesale sales to cooperatives and municipalities. Revenue mainly comes from state-regulated electricity rates set by the Virginia, North Carolina and South Carolina commissions, alongside federally regulated transmission tariffs. Roughly 95% of earnings are expected to come from these regulated utility operations.

Operations are grouped into Dominion Energy Virginia, Dominion Energy South Carolina, Contracted Energy and a Corporate and Other segment. Assets include about 30.7 GW of generating capacity, 10,800 miles of transmission lines and 80,400 miles of distribution lines. The company describes itself as the largest producer of carbon-free electricity in New England and one of the country's major developers of regulated offshore wind and solar power.

Based on Dominion Energy's 10-K filed February 23, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$41

Cash-flow model

Base case. Range ~$15–$76 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 65% above our base value.

Price used: $67.72, November 2, 2026

Dominion Energy valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds750 adding, 622 cuttingOf 74 active managers that changed their stake, 29 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Dominion Energy files

Where Dominion Energy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $18.1bn, up 19.0% on a year earlier, faster than 17.1% a quarter earlier. That growth ranks 1 of 11 among the multi-utilities companies we cover. Free-cash-flow margin held at 29.7%. Operating margin narrowed to 21.1% from 25.8%. The diluted share count is up 2.7% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 0 of our 2 financial-health checks. Our cash-flow model value is $163 a share, against a share price of $62.95.

Source: 10-Q filed July 31, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 29, 2027 (estimated)

Dominion Energy's trailing-twelve-month revenue grew 19.0% year on year, with a free-cash-flow margin of 16.1%. Where it stands out: change in growth rate of +1.9pp ranks 1 of 17 multi-utilities companies we cover. Where it lags: days sales outstanding of 56 days ranks 13 of 14 multi-utilities companies we cover.

Our discounted-cash-flow model values the business at ~$41 per share in the base case (~$15–$76 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 24.5% while net income grew 1.6%: a 23pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 19.0% over the last 12 months, against a median of 7.8% for multi-utilities companies we cover.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $67.72 is 39% above our value per share of $41.
  • Margins narrowing. Operating margin is down 4.7 points on a year ago.
  • Share dilution. Diluted shares rose 2.7% in a year.
  • High debt. Long-term debt exceeds cash by $46.4bn, more than 1.5 times annual revenue.
  • Below peers: days sales outstanding. Days sales outstanding of 56 days ranks 13 of 14 multi-utilities companies we cover (median 39 days).

Latest results: FY2026 Q2

Filed July 31, 2026
Earnings per share
$1.28 against an average estimate of $1.21: beat by 6.0%
Revenue
$4.48bn, up 17.6% on a year earlier
Share reaction
+4.0% in the first session after the results on October 30, 2026, against -2.2% for the S&P 500
Guidance given
operating earnings (non-GAAP) per share $3.45 to $3.69 (2026)
Next report
October 30, 2026; average EPS estimate $0.64

Dominion Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.7%
  • 1 week+4.0%
  • 1 month+10.5%
  • This year+19.2%
  • 1 year+20.3%
  • 5 years+12.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$18.1B
Operating margin
21.1%
Net margin
14.0%
EPS (TTM, diluted)
$2.91

Growth

Revenue growth
+19.0%
Change in growth rate
+1.9 pts
Share count change
+2.7%

Cash

Free cash flow (TTM)
$2.9B
FCF margin
16.1%

Earnings

Last results
October 30, 2026
Next results (est.)
January 29, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Dividend
  4. Announcement
  5. Announcement
  6. Shareholder vote
  7. Announcement
  8. Announcement
  9. Results
  10. Announcement
  11. Deal
  12. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Dominion Energy valuation models and calculator

What the price is pricing in

The share price implies about 15.2% a year of cash-flow growth for five years.That is faster than the 9.7% a year revenue growth Dominion Energy has delivered.

  • Priced in15.2%
  • Last 12 months19.0%
  • 3 years a year6.9%
  • 5 years a year9.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($66.96, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$41
Price used
$66.96close November 3, 2026
Implied change
▼ 39%
Uncertainty
Very high

How we got here: a discounted-cash-flow model of Dominion Energy's free cash flow after stock-based pay with after-tax interest added back ($3.4B, FY2026 Q2 TTM), growing 7% and 10.7% in the next two years (forecasts, guidance and its record), then back to 13% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$15–~$76 ; that spread sets a 45% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Dominion Energy's free cash flow after stock-based pay ( $3.4B, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Dominion Energy as an utility or power producer, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.46 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$41 ~$15–$76 Primary model, counts double
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$59 ~$49–$75 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$59 ~$59–$74 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$32 ~$28–$37 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$32 ~$23–$45 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$34 ~$28–$44 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$43 ~$32–$59 6 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Dominion Energy with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −45%
  • Revenue growth 5 points higher ▲ +57%
  • Free-cash-flow margin 1 point lower ▼ −12%
  • Last year's free-cash-flow margin change, if it persists ▲ +9%
  • Discount rate 1 point higher ▼ −30%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% —$8$35$69$114$172
8.5% ——$9$34$66$107
10% ———$12$37$68

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$42.59$50.12$55.08$50.90$61.85$58.54$63.29$51.19$41.40$49.86$56.82$67.72
Market value$25.3bn$30.9bn$35.0bn$33.3bn$50.0bn$48.6bn$51.2bn$42.2bn$34.6bn$41.9bn$48.6bn$58.9bn
+ Net debt (− = net cash)$28.4bn$35.1bn$37.5bn$35.2bn$37.8bn$36.6bn$40.3bn$45.2bn$44.0bn$41.5bn$48.7bn$52.9bn
Enterprise value$53.7bn$66.0bn$72.5bn$68.5bn$87.9bn$85.3bn$91.5bn$87.4bn$78.6bn$83.4bn$97.3bn$111.8bn
Multiples
Price / sales 2.2x2.6x2.8x3.0x3.5x3.4x4.5x3.0x2.4x2.9x2.9x3.2x
Price / earnings 13.3x14.6x11.7x13.6x36.8x—15.1x35.5x17.7x20.6x16.2x23.2x
Price / free cash flow ———64.2xn/m9.3x12.7x11.4x5.3x8.3x9.1x10.9x
EV / EBITDA 10.9x13.2x12.4x14.7x23.0x19.4x22.2x22.5x13.1x14.9x14.3x17.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

47 /100

Moderate moat

How hard Dominion Energy's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 1 / 20

    Net income has been a median 2.3% of total assets over 10 years.

  • Durability 12 / 20

    Operating margin has been a median 21.4%; its worst year was 8.8%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 8 of 10 years, at a median 14.6% of revenue.

  • Discipline 9 / 20

    The diluted share count rose 6.7% over five years.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.59 +5% $18.3bn +11%
Next $3.81 +6% $19.5bn +7%

Next year's EPS estimate has moved −0.1% in 90 days, across 18 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.1% on 90 days ago. In the last 30 days, 0 analysts raised Dominion Energy's forecast and 3 cut it.

Consensus EPS forecast Dominion Energy, last 90 days
$3.50 $3.60 $3.70 $3.80 $3.90 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.59 Current fiscal year, 60 days ago: $3.59 Current fiscal year, 30 days ago: $3.58 Current fiscal year, 7 days ago: $3.59 Current fiscal year, Now: $3.59 $3.59 Next fiscal year, 90 days ago: $3.82 Next fiscal year, 60 days ago: $3.81 Next fiscal year, 30 days ago: $3.81 Next fiscal year, 7 days ago: $3.82 Next fiscal year, Now: $3.81 $3.81

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.59$3.82
60 days ago $3.59$3.81
30 days ago $3.58$3.81
7 days ago $3.59$3.82
Now $3.59$3.81

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.21 $1.28 +6.0%
Jun 2026 $0.67 $0.79 +17.2%
Mar 2026 $0.91 $0.95 +4.4%
Dec 2025 $0.67 $0.68 +1.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 30, 2026
  • operating earnings (non-GAAP) per share 2026 $3.45 to $3.69 Non-GAAP Maintained
    “The company expects to be in the top half of the 2026 operating earnings guidance range of $3.45 to $3.69 per share and reaffirms existing operating earnings, credit, dividend, and long-term growth guidance.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Dominion Energy's revenue by +7.0% next year and +10.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.3%, weight 69%) and the company's own record (+13.0%, weight 31%) . How the weights are set.

Analyst recommendations

16 analysts, Oct 2026
Buy531%
Hold1169%
Sell00%

Monthly trend

  1. Oct 2026231116
  2. Sep 2026231116
  3. Aug 202621215
  4. Jul 20261416

Counts of recommendations published by analysts covering Dominion Energy, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.7%
of tradable shares
Days to cover
4.98
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
83%
of shares
Held by insiders
0.1%
of shares
Employees
15,200
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +20.3%

$56.28 on October 31, 2025 to $67.72

ThenNowEffect
Revenue (last 12 months) $15.2bn $18.1bn +19.0%
Net margin 16.4% 14.0% −14.6%
P/E multiple 19.1x 23.2x +21.5%
Share count 847m 870m −2.6%

Biggest factor: p/e multiple.

Last 3 years +78.9%

$37.86 on November 3, 2023 to $67.72

ThenNowEffect
Revenue (last 12 months) $14.8bn $18.1bn +22.3%
Net margin 17.7% 14.0% −21.1%
P/E multiple 12.0x 23.2x +94.1%
Share count 830m 870m −4.5%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
D+8%−19%−19%+20%+14%+19%
Industry peers (median)+10%+3%−2%+14%+12%+8%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
D50%50%58%67%58%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
D−11%−33%−35%−13%−13%−15%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 52% from April 8, 2022 to October 23, 2023. Getting back needed a 109% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$55.36 – $70.97
From 52-week high
−4.6%
vs 50-day average
+6.4%
vs 200-day average
+5.9%
Volatility (1 year)
21%
Beta vs S&P 500
-0.16

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±2.7%
After a week
7 up, 4 down
typical move ±3.1%
After a month
7 up, 4 down
typical move ±4.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 30, 2026 +4.0% −2.2% — —
July 31, 2026 −1.4% +2.2% −3.4% −5.3%
May 1, 2026 −2.4% −0.1% −4.0% +4.1%
February 23, 2026 −3.4% −0.3% −3.4% −7.7%
October 31, 2025 −1.7% +0.5% +3.5% +1.4%
August 1, 2025 +4.6% −0.1% +5.7% +1.2%
May 1, 2025 +1.1% +2.2% +1.1% +5.7%
February 12, 2025 +1.8% +0.7% +1.1% −0.7%
November 1, 2024 −3.2% +0.2% −2.9% −3.7%
August 1, 2024 +4.9% −3.3% +1.4% +5.8%
May 2, 2024 +0.5% +2.2% +3.3% +6.3%
February 22, 2024 +3.4% +2.1% +4.8% +5.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Dominion Energy’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Results just out

Results came out in the last few days. Option prices are still adjusting, so we do not judge them yet.

  • Implied is 1.19× the last 60 days’ realised volatility .
  • Puts are priced 2 points richer than calls (25-delta): the market is paying up for downside protection, which favours selling puts over calls.
  • Why: results came out in the last few days, so option prices are still adjusting.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Dominion Energy in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Dominion Energy
$14B $15B $16B $17B $18B $19B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $14.7B Revenue (TTM), FY23 Q4: $14.4B Revenue (TTM), FY24 Q1: $14.1B Revenue (TTM), FY24 Q2: $14.5B Revenue (TTM), FY24 Q3: $14.6B Revenue (TTM), FY24 Q4: $14.5B Revenue (TTM), FY25 Q1: $14.9B Revenue (TTM), FY25 Q2: $15.2B Revenue (TTM), FY25 Q3: $15.8B Revenue (TTM), FY25 Q4: $16.5B Revenue (TTM), FY26 Q1: $17.4B Revenue (TTM), FY26 Q2: $18.1B $18.1B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $14.7B
FY23 Q4 $14.4B
FY24 Q1 $14.1B
FY24 Q2 $14.5B
FY24 Q3 $14.6B
FY24 Q4 $14.5B
FY25 Q1 $14.9B
FY25 Q2 $15.2B
FY25 Q3 $15.8B
FY25 Q4 $16.5B
FY26 Q1 $17.4B
FY26 Q2 $18.1B
Revenue growth, TTM YoY Dominion Energy
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 27.9% Revenue growth, TTM YoY, FY23 Q4: 3.3% Revenue growth, TTM YoY, FY24 Q1: -3.9% Revenue growth, TTM YoY, FY24 Q2: -2.4% Revenue growth, TTM YoY, FY24 Q3: -0.5% Revenue growth, TTM YoY, FY24 Q4: 0.5% Revenue growth, TTM YoY, FY25 Q1: 5.4% Revenue growth, TTM YoY, FY25 Q2: 5.3% Revenue growth, TTM YoY, FY25 Q3: 8.4% Revenue growth, TTM YoY, FY25 Q4: 14.2% Revenue growth, TTM YoY, FY26 Q1: 17.1% Revenue growth, TTM YoY, FY26 Q2: 19.0% 19.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 27.9%
FY23 Q4 3.3%
FY24 Q1 -3.9%
FY24 Q2 -2.4%
FY24 Q3 -0.5%
FY24 Q4 0.5%
FY25 Q1 5.4%
FY25 Q2 5.3%
FY25 Q3 8.4%
FY25 Q4 14.2%
FY26 Q1 17.1%
FY26 Q2 19.0%
Operating margin (TTM) Dominion Energy
20% 22% 24% 26% 28% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 20.1% Operating margin (TTM), FY23 Q4: 23.7% Operating margin (TTM), FY24 Q1: 22.4% Operating margin (TTM), FY24 Q2: 23.4% Operating margin (TTM), FY24 Q3: 24.5% Operating margin (TTM), FY24 Q4: 22.5% Operating margin (TTM), FY25 Q1: 24.4% Operating margin (TTM), FY25 Q2: 25.8% Operating margin (TTM), FY25 Q3: 25.6% Operating margin (TTM), FY25 Q4: 26.7% Operating margin (TTM), FY26 Q1: 26.3% Operating margin (TTM), FY26 Q2: 21.1% 21.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 20.1%
FY23 Q4 23.7%
FY24 Q1 22.4%
FY24 Q2 23.4%
FY24 Q3 24.5%
FY24 Q4 22.5%
FY25 Q1 24.4%
FY25 Q2 25.8%
FY25 Q3 25.6%
FY25 Q4 26.7%
FY26 Q1 26.3%
FY26 Q2 21.1%
FCF margin (TTM) Dominion Energy
10% 15% 20% 25% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 25.3% FCF margin (TTM), FY23 Q4: 27.7% FCF margin (TTM), FY24 Q1: 27.4% FCF margin (TTM), FY24 Q2: 25.1% FCF margin (TTM), FY24 Q3: 22.5% FCF margin (TTM), FY24 Q4: 18.5% FCF margin (TTM), FY25 Q1: 12.8% FCF margin (TTM), FY25 Q2: 15.4% FCF margin (TTM), FY25 Q3: 17.0% FCF margin (TTM), FY25 Q4: 18.0% FCF margin (TTM), FY26 Q1: 15.0% FCF margin (TTM), FY26 Q2: 16.1% 16.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 25.3%
FY23 Q4 27.7%
FY24 Q1 27.4%
FY24 Q2 25.1%
FY24 Q3 22.5%
FY24 Q4 18.5%
FY25 Q1 12.8%
FY25 Q2 15.4%
FY25 Q3 17.0%
FY25 Q4 18.0%
FY26 Q1 15.0%
FY26 Q2 16.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Dominion Energy took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $16.5B
  2. Other operating costs $12.1B · 73.3%
  3. Operating income $4.4B · 26.7%
  4. Income tax $532M · 3.2%
  5. Interest and other $884M · 5.4%
  6. Net income $3B · 18.2%

Shares of revenue. Source: Dominion Energy's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 14.8 14.9 13.8 12.8 13.1 12.4 11.7 11.7 12.6 11.2 14.4 14.2 11.4 13.9 14.4 14.5 16.5 18.1
EBITDA 3.7 6.9 3.9 4.0 4.5 4.0 4.9 5.0 5.8 4.7 3.8 4.4 4.1 3.9 6.0 5.6 6.8 6.3
Operating income 2.6 5.9 2.9 2.9 3.3 2.7 3.5 3.4 3.9 3.0 1.5 2.1 2.0 1.4 3.4 3.2 4.4 3.8
Net income 1.3 2.8 1.4 0.3 1.7 1.3 1.9 2.1 3.0 2.4 1.4 −0.4 3.4 1.2 2.0 2.0 3.0 2.5
Diluted EPS $2.17 $4.76 $2.45 $0.53 $2.93 $2.24 $3.20 $3.44 $4.72 $3.74 $1.62 −$0.57 $4.12 $1.33 $2.25 $2.33 $3.45 $2.91
Growth (year on year)
Revenue −6.9% +0.9% −7.8% −6.8% +2.2% −5.2% −6.1% +0.5% +7.2% −11.0% +28.6% −1.6% −19.4% +22.1% +3.3% +0.5% +14.2% +19.0%
EBITDA −20.7% +85.8% −43.4% +2.2% +13.5% −11.3% +22.9% +1.5% +16.7% −20.0% −18.1% +14.6% −6.2% −5.4% +54.1% −6.7% +21.6% +1.5%
Operating income −26.3% +127.8% −50.8% −0.8% +16.0% −17.9% +30.0% −2.5% +14.2% −23.5% −48.8% +33.1% −2.9% −27.5% +135.9% −4.9% +35.9% −2.9%
Net income −29.8% +118.2% −49.9% −78.6% +461.9% −22.8% +45.0% +11.8% +41.3% −18.4% −44.5% −129.5% — −65.0% +64.7% +3.7% +47.4% +1.6%
Diluted EPS −31.3% +119.4% −48.5% −78.4% +452.8% −23.5% +42.9% +7.5% +37.2% −20.8% −56.7% −135.2% — −67.7% +69.2% +3.6% +48.1% −1.0%
Margins
EBITDA margin 25.1% 46.1% 28.3% 31.0% 34.5% 32.3% 42.2% 42.7% 46.4% 41.7% 26.6% 31.0% 36.0% 27.9% 41.6% 38.7% 41.2% 34.7%
Operating margin 17.4% 39.2% 20.9% 22.3% 25.3% 21.9% 30.3% 29.4% 31.3% 26.9% 10.7% 14.5% 17.5% 10.4% 23.7% 22.5% 26.7% 21.1%
Net margin 8.7% 18.8% 10.2% 2.4% 12.9% 10.5% 16.3% 18.1% 23.8% 21.9% 9.4% −2.8% 29.8% 8.5% 13.6% 14.1% 18.2% 14.0%
Free-cash-flow margin −0.3% −10.7% −4.9% −0.1% −4.8% −15.3% −9.4% −16.5% −8.0% 4.6% 1.6% 36.9% 35.4% 26.5% 45.7% 34.7% 32.5% 29.7%
Cash flow
Cash from operations 3.8 1.8 3.0 4.1 3.4 3.4 4.5 4.2 4.5 4.8 5.2 5.2 4.0 3.7 6.6 5.0 5.4 5.4
Capital spending 3.8 3.4 3.7 4.1 4.1 5.3 5.6 6.1 5.5 4.3 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow −0.1 −1.6 −0.7 −0.0 −0.6 −1.9 −1.1 −1.9 −1.0 0.5 0.2 5.2 4.0 3.7 6.6 5.0 5.4 5.4
Stock-based pay — 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.0 —
Free cash flow after stock pay — −1.6 −0.7 −0.0 −0.7 −1.9 −1.1 −2.0 −1.0 0.5 0.2 5.2 4.0 3.7 6.5 5.0 5.3 —
Balance sheet
Cash 0.1 0.1 0.1 0.2 0.3 0.3 0.6 0.3 0.1 0.3 0.1 0.2 0.3 0.1 0.2 0.3 0.3 0.3
Total debt 17.9 17.6 20.7 21.4 22.8 26.0 29.0 35.3 37.6 35.4 38.0 36.8 40.6 45.3 44.2 41.8 48.9 53.2
Net debt (negative = net cash) 17.9 17.6 20.6 21.2 22.5 25.7 28.4 35.1 37.5 35.2 37.8 36.6 40.3 45.2 44.0 41.5 48.7 52.9
Diluted shares 594m 590m 575m 574m 580m 585m 594m 617m 636m 655m 809m 831m 809m 825m 837m 839m 855m 870m
Returned to shareholders
Dividends 1.0 1.1 1.1 1.2 1.3 1.4 1.5 1.7 1.9 2.2 3.0 2.9 2.0 2.2 2.2 2.2 2.3 2.3
Buybacks 0.0 0.9 0.6 0.0 0.0 — — — — — — 3.1 — — — — — —
Total returned 1.0 2.0 1.7 1.2 1.3 1.4 1.5 1.7 1.9 2.2 3.0 6.0 2.0 2.2 2.2 2.2 2.3 2.3

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 6 checks passed · June 30, 2026
What it owns · $121.9bn
Short-term assets $9.7bnLonger-term assets $112.2bn
What it owes, and who funded it · $117.2bn
Short-term liabilities $12.0bnLonger-term liabilities $76.3bnShareholders' equity $28.9bn
  • Short-term assets cover short-term liabilities $9.7bn of assets due within a year against $12.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $9.7bn short-term assets against $76.3bn of longer-dated liabilities.
  • More cash than debt $296m of cash against $49.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 170% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 137% to 170% over five years.
  • A year's operating cash flow covers at least 20% of debt $5.4bn of operating cash flow against $49.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Dominion Energy's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$2.3B
Diluted share count
+2.7%
year over year
Total shareholder yield
3.9%
dividends 3.9% + buybacks 0.0% of market value
Dividend payout ratio
91%
of net income paid out
Days sales outstanding
56 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in multi-utilities
Last 12 months unless stated D ED DTE XEL SRE PCG Median
Revenue, last 12 months $18.1bn $17.7bn $16.5bn $14.9bn $13.6bn $25.8bn $9.0bn
Revenue growth, last 12 months 19.0% 9.5% 15.9% 4.5% 1.6% 4.1% 7.8%
Revenue growth, 3-year average 6.9% 4.4% 0.6% 0.1% −7.2% 4.2% 2.3%
Revenue growth, latest quarter 17.6% 13.2% −1.5% 6.6% −0.1% −1.0% 6.6%
Operating margin 21.1% 18.0% 13.3% 21.7% — 20.2% 20.4%
Operating margin, 3-year average 23.4% 17.5% 15.4% 19.1% — 19.0% 20.4%
Net margin 14.0% 12.5% 8.0% 17.9% 16.8% 11.6% 11.8%
Cash from operations / revenue 29.7% 22.4% 20.4% 34.1% 40.0% 30.3% 28.8%
Free-cash-flow margin 16.1% 9.2% 8.7% −51.2% −38.7% −19.3% −13.3%
Free-cash-flow margin, 3-year average 18.9% 9.6% 11.4% −33.5% −31.1% −15.0% −7.6%
Stock pay / revenue — — 0.7% 0.3% 0.7% 0.5% 0.5%
Change in share count 2.7% 3.4% 0.2% 6.3% 1.3% 1.4% 2.2%

Median of all 17 companies we cover in multi-utilities. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 multi-utilities companies
Measure Company Peer median Rank
Revenue growth Growth 19.0% 7.8% 2 of 17
Change in growth rate Growth +1.9pp -0.2pp 1 of 17
Operating margin Profitability 21.1% 20.5% 7 of 16
Net margin Profitability 14.0% 11.8% 5 of 17
Free-cash-flow margin Cash generation 16.1% -13.3% 2 of 17
Long-term debt as % of assets Balance sheet 38.3% 39.5% 8 of 16
Change in share count Balance sheet 2.7% 2.2% 10 of 17
Days sales outstanding Balance sheet 56 days 39 days 13 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Nonregulated Electricity Sales $1.2B ▲ 32.8%
Other Regulated Revenues $309M ▼ 16.9%
Other Nonregulated Revenues $266M ▲ 59.3%
Regulated Gas Transportation and Storage $36M ▲ 71.4%

These categories overlap or exclude eliminations, so shares aren't shown.

From Dominion Energy's 10-K filed February 23, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$48.6B
Institutions reporting
1,539
Shares held vs prior quarter
▲ 2.3%
Positions opened / closed
167 / 106

Top buyers and sellers, Q2 2026: 750 institutions bought and 622 sold ; the biggest buyer was Capital Research Global Investors (+24.9M shares) and the biggest seller Blackrock, Inc (−8.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Capital Research Global Investors $5B 73.9M 10.4% ▲ 50.8%
Blackrock, Inc. $5B 73.0M 10.3% ▼ 9.9%
Vanguard Capital Management LLC $3.9B 57.4M 8.1% ▲ 2.0%
State Street Corp $3.5B 50.9M 7.2% ▲ 3.5%
Vanguard Portfolio Management LLC $3.1B 45.1M 6.3% ▲ 1.4%
Wellington Management Group LLP $2.8B 40.9M 5.7% ▼ 14.1%
Massachusetts Financial Services Co $1.4B 20.0M 2.8% ▼ 24.8%
Geode Capital Management, LLC $1.3B 19.8M 2.8% ▲ 3.8%
Dodge & Cox $1.2B 18.3M 2.6% ▼ 6.0%
Jpmorgan Chase & Co $1B 14.9M 2.1% ▼ 33.5%
Bank Of America Corp $997M 14.6M 2.1% ▼ 8.4%
Invesco Ltd. $812M 11.9M 1.7% ▲ 3.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Dominion Energy's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 113 trades and filings

No trades in Dominion Energy disclosed in the last 12 months; 113 earlier trades on record.

  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded April 9, 2025, filed May 14, 2025
  • Sheri Biggs(R-SC 3):Sale (full), $15,001 - $50,000, traded March 18, 2025, filed October 5, 2025
  • Gerald E. Connolly(D-VA 11):Sale (partial), $1,001 - $15,000, traded February 5, 2025, filed February 6, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 29, 2027 estimated from the company's past filing pattern, not announced

  • October 30, 2026
  • July 31, 2026
  • May 1, 2026
  • February 23, 2026
  • October 31, 2025
  • August 1, 2025

Recent SEC filings

Data status

When each part of this page on Dominion Energy was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Dominion Energy in brief

What does Dominion Energy do?
Dominion Energy is a US-listed company in the multi-utilities industry. Its financial year ends in December.
What is Dominion Energy's stock ticker?
Dominion Energy trades under the ticker D on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Dominion Energy's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Dominion Energy reported revenue of $18.1B, 19.0% higher than a year earlier, according to its SEC filings.
What is Dominion Energy's free cash flow?
Dominion Energy's free-cash-flow margin is 16.1% of revenue over the trailing twelve months, ranking 2 of the 17 multi-utilities companies we cover.
What is Dominion Energy's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Dominion Energy's free cash flow after stock-based pay gives ~$41 per share in the base case, and ~$15–$76 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Dominion Energy's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Capital Research Global Investors, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Dominion Energy's market cap?
On November 2, 2026, Dominion Energy's market capitalisation was about $58.9B, with a price-to-earnings ratio of 23.2 and net debt of $52.9B. Market figures come from third-party market data and may be delayed.
Does Dominion Energy pay a dividend?
Yes: Dominion Energy paid $2.3B in dividends over the trailing twelve months, a dividend yield of 3.88% and a payout ratio of 91.3%.
How much debt does Dominion Energy have?
Dominion Energy's debt-to-equity ratio is 170.0%, from its latest balance sheet (137.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Dominion Energy's competitors?
In our Multi-Utilities peer group, the companies closest to Dominion Energy are Consolidated Edison, DTE Energy, Xcel Energy, Sempra and PG&E Corporation. The side-by-side comparison below sets their revenue, margins and growth against Dominion Energy's.
When is Dominion Energy's next earnings date?
Around January 29, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Dominion Energy announces its own schedule.