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Dominion Energy, Inc.

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Dominion Energy, Inc. • NYSE
$62.74 ▲ 0.32% (+0.20)
Market Cap $53.57 B
52w High $62.87
52w Low $48.07
Dividend Yield 2.00%
P/E 20.5
Volume 1.96M
Outstanding Shares 853.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.527B ▲ $1.175B ▲ $1.006B ▲ 22.222% ▲ $1.18 ▲ $2.38B ▲
Q2-2025 $3.81B ▼ $824M ▼ $760M ▲ 19.948% ▲ $0.88 ▲ $2.194B ▲
Q1-2025 $4.076B ▲ $837M ▼ $646M ▲ 15.849% ▲ $0.75 ▲ $1.929B ▲
Q4-2024 $3.4B ▼ $1.111B ▲ $-76M ▼ -2.235% ▼ $0.15 ▼ $1.621B ▼
Q3-2024 $3.941B $855M $954M 24.207% $1.12 $1.965B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.066B ▲ $111.597B ▲ $79.871B ▲ $27.691B ▲
Q2-2025 $344M ▼ $107.441B ▲ $76.569B ▲ $27.215B ▼
Q1-2025 $355M ▲ $104.555B ▲ $73.833B ▲ $27.365B ▲
Q4-2024 $310M ▼ $102.415B ▲ $72.223B ▼ $27.253B ▼
Q3-2024 $1.776B $99.82B $72.289B $27.531B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.006B ▲ $1.945B ▲ $-3.204B ▼ $1.912B ▲ $653M ▲ $-1.084B ▲
Q2-2025 $759M ▲ $1.246B ▲ $-3.147B ▲ $1.837B ▼ $-64M ▼ $-1.766B ▲
Q1-2025 $647M ▲ $1.183B ▲ $-3.238B ▲ $2.167B ▲ $112M ▲ $-2.031B ▲
Q4-2024 $148M ▼ $641M ▼ $-3.476B ▼ $1.298B ▲ $-1.537B ▼ $-2.865B ▼
Q3-2024 $967M $1.539B $-1.035B $1.191B $1.718B $-1.461B

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Contracted Energy
Contracted Energy
 $260.00M ▲$260.00M ▲$240.00M ▼$300.00M ▲
Dominion Energy South Carolina
Dominion Energy South Carolina
 $850.00M ▲$800.00M ▼$840.00M ▲$940.00M ▲
Dominion Energy Virginia
Dominion Energy Virginia
 $2.76Bn ▲$2.45Bn ▼$2.71Bn ▲$3.31Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Dominion’s revenue has been relatively steady over the past several years, with a gentle upward trend recently. Profitability has improved compared with a few years ago: operating profits are healthier, and net income has been positive for several years after a loss early in the decade. There was a particularly strong earnings year earlier in the period, which makes the growth path look a bit uneven, but the more recent results point to a business that is gradually stabilizing at a more consistent profit level. Overall, this looks like a mature utility with modest growth and improving, but not spectacular, profitability.

Balance Sheet

Balance Sheet The company carries a very large asset base, as is typical for a regulated utility with heavy infrastructure. Debt levels are high and have generally crept up over time, reflecting the funding of major projects, while shareholders’ equity has stayed fairly stable. Cash on hand is quite low relative to the size of the business, which is also common for regulated utilities that rely on ongoing cash inflows and capital markets. The balance sheet is workable for a regulated utility but leaves limited room for missteps, making regulatory support and project execution especially important.

Cash Flow

Cash Flow Operating cash flow is solid and has improved over time, showing that the core utility operations generate reliable cash. However, free cash flow has been deeply negative for several years because Dominion is spending heavily on new infrastructure and clean energy projects. In practical terms, the company is in an investment-heavy phase, relying on external financing and regulatory recovery mechanisms to cover its spending. This sets up the potential for stronger cash generation in the future, but it also increases sensitivity to interest rates, capital market conditions, and regulatory approvals.

Competitive Edge

Competitive Edge Dominion benefits from a classic regulated-utility moat: it operates essential electric and gas infrastructure in defined service territories, with rates set by regulators. This brings stability and limits direct competition. Its integrated position across generation, transmission, and distribution supports reliability and efficiency. A major advantage is its strong foothold in high-growth regions, especially Northern Virginia’s data center corridor, where power demand is rising quickly. The main competitive risks are less about rivals and more about regulatory decisions, political scrutiny, and the need to keep pace with rapidly evolving customer and environmental expectations.

Innovation and R&D

Innovation and R&D Dominion is leaning into the energy transition with a broad innovation agenda rather than relying solely on its traditional regulated base. Key efforts include a very large offshore wind project, an expanding solar and battery storage portfolio, and extensive grid modernization work, including undergrounding vulnerable lines and deploying smarter, more resilient grid technologies. The company is also experimenting with hydrogen in its gas systems and exploring small modular nuclear reactors, including high-profile partnerships tied to data center demand. These initiatives could position Dominion as a leader in cleaner, reliable power, but they carry technology, cost, and regulatory risks, and many are long-dated bets that will take years to prove out.

Summary

Dominion combines the stability of a regulated utility with an aggressive buildout of new infrastructure and clean energy technologies. The core business shows steady revenues and improving profitability, supported by strong operating cash flows, but the company is in a capital-intensive phase that keeps free cash flow negative and debt elevated. Its geographic position and integrated system give it a solid competitive moat, especially in fast-growing data center markets. At the same time, the strategy depends heavily on constructive regulation and successful execution of large, complex projects in offshore wind, solar, storage, hydrogen, and advanced nuclear. The long-term story hinges on turning today’s heavy investment into tomorrow’s stable, low-carbon earnings stream while managing financial leverage and regulatory relationships carefully.

NEWS

November 17, 2025 · 10:00 AM UTC

Dominion Energy reminds customers to stay alert for utility scams as holiday season approaches

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October 31, 2025 · 7:30 AM UTC

Dominion Energy Announces Third-Quarter 2025 Results

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October 29, 2025 · 3:05 PM UTC

Dominion Energy Declares Quarterly Dividend of 66.75 Cents

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October 2, 2025 · 4:05 PM UTC

Dominion Energy Schedules Third-Quarter 2025 Earnings Call

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