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Held by 2,397 of 6,047 reporting institutions (100th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 14 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DUK | $89.0B | 18.1× | 10.5× | 2.8× | 5.6% | — | 15.7% | 9.6% | 3.7% | 5.0× | 2,397 |
| EXC | $42.0B | — | 10.9× | 1.7× | 5.3% | — | 11.4% | 9.6% | 3.6% | 5.8× | 1,243 |
| ED | $38.2B | 18.3× | — | 2.3× | 10.9% | — | 12.0% | 8.4% | 4.0% | — | 1,395 |
| PCG | $37.0B | 10.4× | — | 1.5× | 2.1% | — | 10.8% | 8.3% | 2.9% | — | 917 |
| PEG | $33.9B | 16.1× | — | 2.8× | 18.3% | — | 17.3% | 12.4% | 5.3% | — | 1,268 |
| WEC | $33.1B | 21.1× | 14.4× | 3.4× | 14.0% | 66.7% | 15.9% | 11.1% | 4.5% | 5.5× | 1,353 |
| AEE | $27.7B | 18.7× | — | 3.1× | 15.4% | — | 16.6% | 10.9% | 4.5% | — | 923 |
| CMS | $20.0B | 18.1× | 12.6× | 2.3× | 13.6% | — | 12.5% | 11.7% | 3.8% | 6.0× | 790 |
| NI | $18.9B | 20.2× | 6.5× | 2.9× | 23.5% | — | 14.3% | 9.8% | 9.1% | 0.2× | 872 |
| EVRG | $18.3B | 21.6× | 12.8× | 3.1× | 2.0% | — | 14.4% | 8.4% | 3.6% | 5.4× | 908 |
| LNT | $16.7B | 20.5× | 15.1× | 3.8× | 9.6% | 85.7% | 18.6% | 11.0% | 4.2% | 6.1× | 852 |
| NWE | $4.3B | 23.6× | 13.2× | 2.6× | 6.4% | — | 11.2% | 6.3% | 2.9% | 5.8× | 362 |
| AVA | $3.0B | 14.8× | 5.2× | 1.5× | 1.3% | — | 9.8% | 7.1% | 6.2% | 0.6× | 404 |
| UTL | $934M | 17.2× | — | 1.7× | 8.3% | — | 9.4% | 8.2% | 3.4% | — | 237 |
| GNE | $432M | 18.3× | 8.3× | 0.9× | 18.1% | 24.8% | 4.8% | 9.6% | 9.2% | -6.8× | 107 |
Peers = companies sharing DUK's sector (Electric & Other Services Combined) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
No trend data available for this metric.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2024). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $113.84 today, the market must believe free cash flow compounds 83.0%/yr for a decade (off $48.0M on the 3-yr avg basis).
On the basis (-$48.0M) the requirement is off the scale. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
Default is 8.6% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.78B shares (market data) · net debt $82.49B
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$1.69B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 4%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $245.0M is below the $7.12B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.4% on $82.73B of debt.
Cash of $245.0M is below short-term debt of $2.62B — relies on refinancing/operations.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-05
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.74B 100.0% | $30.05B 100.0% | $28.67B 100.0% | $28.68B 100.0% | $24.49B 100.0% | $23.25B 100.0% | $24.35B 100.0% | $23.76B 100.0% | — | $22.74B 100.0% |
| Cost of Revenue | — | — | — | — | — | — | $6.83B 28.0% | $6.83B 28.8% | $6.35B | $6.63B 29.1% |
| Total Operating Expenses | $23.66B 74.5% | $22.46B 74.7% | $22.04B 76.9% | $22.78B 79.4% | $19.13B 78.1% | $18.81B 80.9% | $19.37B 79.5% | $19.75B 83.1% | $17.97B | $17.57B 77.2% |
| Operating Income | $8.63B 27.2% | $7.93B 26.4% | $7.07B 24.7% | $6.01B 21.0% | $5.50B 22.5% | $4.57B 19.7% | $5.71B 23.4% | $4.68B 19.7% | $5.63B | $5.20B 22.9% |
| Interest Expense | $3.63B 11.4% | $3.38B 11.3% | $3.01B 10.5% | $2.44B 8.5% | $2.21B 9.0% | $2.10B 9.0% | $2.20B 9.1% | $2.09B 8.8% | $1.99B | $1.92B 8.4% |
| Other Income (Expense), net | $720.0M 2.3% | $652.0M 2.2% | $711.0M 2.5% | $505.0M 1.8% | $698.0M 2.9% | -$1.55B -6.7% | $592.0M 2.4% | $482.0M 2.0% | $627.0M | $448.0M 2.0% |
| Pretax Income | $5.71B 18.0% | $5.19B 17.3% | $4.77B 16.6% | $4.08B 14.2% | $3.99B 16.3% | $920.0M 4.0% | $4.10B 16.8% | $3.07B 12.9% | $4.27B | $3.73B 16.4% |
| Income Tax Expense | $642.0M 2.0% | $590.0M 2.0% | $438.0M 1.5% | $300.0M 1.0% | $268.0M 1.1% | -$169.0M -0.7% | $519.0M 2.1% | $448.0M 1.9% | $1.20B | $1.16B 5.1% |
| Net Income | $4.97B 15.7% | $4.52B 15.1% | $2.84B 9.9% | $2.55B 8.9% | $3.91B 16.0% | $1.38B 5.9% | $3.75B 15.4% | $2.67B 11.2% | $3.06B | $2.15B 9.5% |
| Per Share | ||||||||||
| EPS (Basic) | $6.31 | $5.71 | $3.54 | $3.17 | $4.94 | $1.72 | $5.06 | $3.76 | $4.36 | $3.11 |
| EPS (Diluted) | $6.31 | $5.71 | $3.54 | $3.17 | $4.94 | $1.72 | $5.06 | $3.76 | $4.36 | $3.11 |
| Weighted Avg Shares (Basic) | 777.0M | 772.0M | 771.0M | 770.0M | 769.0M | 737.0M | 729.0M | 708.0M | 700.0M | 691.0M |
| Weighted Avg Shares (Diluted) | 777.0M | 772.0M | 771.0M | 770.0M | 769.0M | 738.0M | 729.0M | 708.0M | 700.0M | 691.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-05
Where each multiple sits in its own 14-yr range · 73th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 10% against ROIC 4% — 6% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 28.8 | 28.0 | — | — | — | — | — | — |
| Operating Income | 19.7 | 23.4 | 19.7 | 22.5 | 21.0 | 24.7 | 26.4 | 27.2 |
| Income Tax | 1.9 | 2.1 | -0.7 | 1.1 | 1.0 | 1.5 | 2.0 | 2.0 |
| Net Income | 11.2 | 15.4 | 5.9 | 16.0 | 8.9 | 9.9 | 15.1 | 15.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DUK: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -2.85pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 4.8% | 8.6% (today's — no rate published for this year) | -3.8pts |
| FY2020 | 3.8% | 8.6% (today's — no rate published for this year) | -4.8pts |
| FY2021 | 4.3% | 6.3% | -2.1pts |
| FY2022 | 4.4% | 7.7% | -3.2pts |
| FY2023 | 5.0% | 7.8% | -2.8pts |
| FY2024 | 5.4% | 8.0% | -2.6pts |
| FY2025 | 5.7% | 7.6% | -2.0pts |
| Now | 3.7% | 8.6% | -4.9pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 70.9% | 22.9% | 9.5% |
| FY2018 | 71.2% | 19.7% | 11.2% |
| FY2019 | 72.0% | 23.4% | 15.4% |
| FY2020 | not reported | 19.7% | 5.9% |
| FY2021 | not reported | 22.5% | 16.0% |
| FY2022 | not reported | 21.0% | 8.9% |
| FY2023 | not reported | 24.7% | 9.9% |
| FY2024 | not reported | 26.4% | 15.1% |
| FY2025 | not reported | 27.2% | 15.7% |
Leverage and buybacks account for 6 points of the 10% return on equity in FY2025. The business earns 4% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$19.0B of goodwill — 14% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
The spread was positive in only 0 of the last 5 years.
Free cash flow has fallen short of reported profit in 3 of the last three years.
Reported free cash flow is -$1.69B; after share-based compensation it is -$1.80B. The difference is a real cost that the cash flow statement adds back.
Stressed coverage of 1.7x sits between comfortable and thin.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 2.37x |
| 5% | 2.26x |
| 10% | 2.14x |
| 15% | 2.02x |
| 20% | 1.90x |
| 25% | 1.78x |
| 30% | 1.66x |
| 35% | 1.54x |
| 40% | 1.42x |
| 45% | 1.31x |
| 50% | 1.19x |
| 55% | 1.07x |
| 60% | 0.95x |
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025. Free cash flow is negative, so projected resources fall rather than accumulate.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Free cash flow is negative, so debt service depends on the cash balance rather than on the business.
At $114.13, free cash flow must compound 83.26%/yr for 10 years. It has no positive compounding record to compare against.
The implied rate of 83.26% has not been achieved in any of the last 1 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $4.97B | $4.97B |
| Share-based comp | $102M | $5.07B |
| Other non-cash & working capital | $7.26B | $12.33B |
| Operating cash flow | $12.33B | $12.33B |
| Capex | −$14.02B | −$1.69B |
| Free cash flow | −$1.69B | −$1.69B |
| FCF after SBC | −$1.80B | −$1.80B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -4.5% | 7.5% | 12.0 points |
| FY2021 | 5.3% | 13.7% | 8.4 points |
| FY2022 | 17.1% | 27.4% | 10.3 points |
| FY2023 | 0.0% | -2.8% | -2.8 points |
| FY2024 | 4.8% | -37.4% | -42.2 points |
| FY2025 | 5.6% | -99.2% | -104.8 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 29.9 days | not reported | 186.5 days | -156.6 days |
| FY2020 | 33.7 days | not reported | not reported | not reported |
| FY2021 | 36.3 days | not reported | not reported | not reported |
| FY2022 | 39.5 days | not reported | not reported | not reported |
| FY2023 | 38.4 days | not reported | not reported | not reported |
| FY2024 | 22.9 days | not reported | not reported | not reported |
| FY2025 | 0.2 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -2.8 percent |
| FY2020 | -4.6 percent |
| FY2021 | -2.6 percent |
| FY2022 | -1.9 percent |
| FY2023 | -4.0 percent |
| FY2024 | -4.2 percent |
| FY2025 | -3.8 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.