Constellation Energy Corporation (CEG) Balance Sheet
CEG balance sheet, 2025
December 31, 2025 · U.S. dollars$57.25B assets = $42.40B liabilities + $14.85B equity
Both columns are drawn to the same scale: what CEG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CEG financial health
Descriptive bands, not a rating. Fiscal 2025.
CEG balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $46.97B2016 | $57.25B2025 | +2.2%/yr | |
| Total liabilities | $33.72B2016 | $42.40B2025 | +2.6%/yr | |
| Shareholders’ equity | $11.48B2016 | $14.52B2025 | +2.6%/yr | |
| Cash & short-term investments | $290.0M2016 | $3.75B2025 | +32.9%/yr | |
| Total debt | $9.99B2016 | $8.99B2025 | −1.2%/yr | |
| Net cash (debt) | −$9.71B2016 | −$5.24B2025 | +$4.5B | |
| Working capital | $845.0M2016 | $4.17B2025 | +$3.3B | |
| Book value per share | $35.192016 | $46.232025 | +3.1%/yr | |
| Current ratio | 1.152016 | 1.532025 | +0.38 | |
| Debt / equity | 0.872016 | 0.622025 | −0.25 | |
| Shares outstanding | 326.3M2016 | 314.0M2025 | −0.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CEG assets
CEG liabilities and equity
CEG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CEG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.75B | $3.02B | $368.0M | $422.0M | $504.0M | $226.0M | $303.0M | $750.0M | $416.0M | $290.0M |
| Cash & equivalents | $3.75B | $3.02B | $368.0M | $422.0M | $504.0M | $226.0M | $303.0M | $750.0M | $416.0M | $290.0M |
| Short-term investments | — | — | $14.0M | −$14.11B | $43.0M | $195.0M | — | — | — | — |
| Receivables | $4.27B | $3.72B | $2.85B | $3.32B | $2.42B | $1.84B | $3.75B | $3.11B | $2.84B | $2.59B |
| Inventory | $1.74B | $1.60B | $1.50B | $1.50B | $1.29B | $1.21B | $1.26B | $1.21B | $1.20B | $1.23B |
| Other current assets | $2.37B | $2.44B | $3.58B | $4.12B | $3.77B | $3.67B | $1.76B | $3.35B | $2.43B | $2.42B |
| Total current assets | $12.12B | $10.78B | $8.30B | $9.36B | $7.98B | $6.95B | $7.08B | $8.43B | $6.88B | $6.53B |
| Property, plant & equipment (net) | $22.47B | $21.23B | $22.12B | $19.82B | $19.61B | $22.21B | $24.19B | $20.99B | $21.64B | $22.23B |
| Goodwill & intangible assets | $420.0M | $420.0M | $580.0M | $225.0M | $2.63B | $94.0M | $94.0M | $418.0M | $442.0M | $494.0M |
| Long-term investments | $307.0M | $640.0M | $16.96B | $14.32B | $16.11B | $14.65B | $13.43B | $0 | $0 | $0 |
| Other non-current assets | $21.93B | $19.86B | $2.80B | $3.19B | $1.75B | $4.19B | $4.21B | $17.71B | $19.49B | $17.73B |
| Total assets | $57.25B | $52.93B | $50.76B | $46.91B | $48.09B | $48.09B | $48.99B | $47.56B | $48.46B | $46.97B |
| Liabilities | ||||||||||
| Accounts payable | $2.81B | $2.37B | $1.48B | $2.83B | $1.76B | $1.25B | $1.69B | $1.85B | $1.80B | $1.61B |
| Short-term debt | $1.74B | $1.03B | $1.76B | $1.30B | $3.30B | $1.32B | $3.50B | $1.01B | $402.0M | $1.87B |
| Deferred revenue | — | — | $178.0M | — | $868.0M | $7.0M | $17.0M | — | — | — |
| Total current liabilities | $7.94B | $6.85B | $6.32B | $7.84B | $8.00B | $5.22B | $7.29B | $5.77B | $4.19B | $5.68B |
| Long-term debt | $7.25B | $7.38B | $7.50B | $4.47B | $4.89B | $5.89B | $4.79B | $0 | $0 | $0 |
| Other long-term liabilities | $27.20B | $25.16B | $25.66B | $23.23B | $23.58B | $22.31B | $21.08B | $26.28B | $28.31B | $28.04B |
| Total liabilities | $42.40B | $39.39B | $39.47B | $35.54B | $36.47B | $33.42B | $33.16B | $32.05B | $32.50B | $33.72B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $11.04B | $11.40B | $12.36B | $13.27B | $10.48B | $9.62B | $9.57B | $9.52B | $9.36B | $9.26B |
| Retained earnings (deficit) | $5.90B | $4.07B | $761.0M | −$496.0M | $768.0M | $2.81B | $3.95B | $3.72B | $4.35B | $2.27B |
| Accumulated other comprehensive income | −$2.42B | −$2.30B | −$2.19B | −$1.76B | −$31.0M | −$30.0M | −$32.0M | −$38.0M | −$37.0M | −$54.0M |
| Minority interest | $336.0M | $373.0M | $361.0M | $354.0M | — | — | — | — | — | — |
| Total shareholders' equity | $14.52B | $13.17B | $10.93B | $11.02B | $11.22B | $12.40B | $13.48B | $13.20B | $13.67B | $11.48B |
| Key figures | ||||||||||
| Total debt | $8.99B | $8.41B | $9.26B | $5.77B | $8.20B | $7.21B | $8.29B | $8.89B | $9.05B | $9.99B |
| Net cash (debt) | −$5.24B | −$5.39B | −$8.89B | −$5.35B | −$7.69B | −$6.99B | −$7.99B | −$8.14B | −$8.63B | −$9.71B |
| Working capital | $4.17B | $3.93B | $1.98B | $1.52B | −$15.0M | $1.73B | −$213.0M | $2.66B | $2.69B | $845.0M |
| Tangible book value | $14.10B | $12.75B | $10.35B | $10.79B | $8.59B | $12.30B | $13.39B | $12.79B | $13.23B | $10.99B |
| Book value per share | $46.23 | $41.80 | $33.72 | $33.59 | $34.34 | $37.96 | $41.28 | $40.47 | $41.89 | $35.19 |
| Shares outstanding | 314.0M | 315.0M | 324.0M | 328.0M | 326.7M | 326.7M | 326.7M | 326.3M | 326.3M | 326.3M |
| Current ratio | 1.53 | 1.57 | 1.31 | 1.19 | 1.00 | 1.33 | 0.97 | 1.46 | 1.64 | 1.15 |
| Quick ratio | 1.01 | 0.98 | 0.51 | 0.48 | 0.37 | 0.40 | 0.56 | 0.67 | 0.78 | 0.51 |
| Debt / equity | 0.62 | 0.64 | 0.85 | 0.52 | 0.73 | 0.58 | 0.62 | 0.67 | 0.66 | 0.87 |
| Equity / assets | 25.4% | 24.9% | 21.5% | 23.5% | 23.3% | 25.8% | 27.5% | 27.8% | 28.2% | 24.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.08B | $1.17B | $3.75B | $4.09B | $2.06B | $1.85B | $3.02B | $1.79B | $311.0M | $562.0M | $368.0M | $1.89B |
| Cash & equivalents | $1.08B | $1.17B | $3.75B | $4.09B | $2.06B | $1.85B | $3.02B | $1.79B | $311.0M | $562.0M | $368.0M | $1.89B |
| Short-term investments | — | — | — | — | — | — | — | $1.77B | — | — | $14.0M | — |
| Receivables | $4.66B | $4.41B | $4.27B | $3.78B | $3.52B | $3.64B | $3.72B | $1.76B | $2.21B | $2.33B | $2.85B | $2.26B |
| Inventory | $3.37B | $2.58B | $1.74B | $1.66B | $1.58B | $1.50B | $1.60B | $1.47B | $1.44B | $1.39B | $1.50B | $1.42B |
| Other current assets | $9.86B | $9.84B | $2.37B | $2.11B | $2.07B | $2.65B | $2.44B | $4.24B | $3.89B | $4.19B | $3.58B | $4.33B |
| Total current assets | $18.96B | $18.01B | $12.12B | $11.65B | $9.23B | $9.63B | $10.78B | $9.27B | $7.85B | $8.46B | $8.30B | $9.90B |
| Property, plant & equipment (net) | $41.23B | $40.77B | $22.47B | $21.99B | $21.82B | $21.57B | $21.23B | $20.89B | $21.97B | $22.45B | $22.12B | $20.85B |
| Goodwill & intangible assets | $11.53B | $11.53B | $420.0M | $420.0M | $420.0M | $420.0M | $420.0M | $840.0M | $564.0M | $575.0M | $580.0M | $0 |
| Long-term investments | $353.0M | $314.0M | $307.0M | $427.0M | $398.0M | $386.0M | $640.0M | $494.0M | $584.0M | $623.0M | $16.96B | $15.30B |
| Other non-current assets | $26.18B | $26.29B | $21.93B | $21.68B | $21.17B | $20.25B | $19.86B | $20.34B | $20.37B | $19.91B | $2.80B | $2.91B |
| Total assets | $98.25B | $96.91B | $57.25B | $56.16B | $53.04B | $52.25B | $52.93B | $51.83B | $51.34B | $52.01B | $50.76B | $48.97B |
| Liabilities | ||||||||||||
| Accounts payable | $2.46B | $2.71B | $2.81B | $2.51B | $3.66B | $2.50B | $2.37B | $1.30B | $1.36B | $1.31B | $1.30B | $31.0M |
| Short-term debt | $5.59B | $5.47B | $1.74B | $1.77B | $1.02B | $1.04B | $1.03B | $1.03B | $1.72B | $1.63B | $1.76B | $643.0M |
| Deferred revenue | — | — | — | — | — | — | — | −$1.30B | — | — | — | $2.22B |
| Total current liabilities | $13.03B | $13.21B | $7.94B | $7.46B | $6.26B | $6.54B | $6.85B | $5.45B | $5.80B | $5.92B | $6.32B | $5.26B |
| Long-term debt | $19.11B | $16.99B | $7.25B | $7.27B | $7.29B | $7.32B | $7.38B | $7.38B | $7.41B | $8.35B | $7.50B | $7.51B |
| Other long-term liabilities | $33.79B | $32.88B | $27.20B | $26.75B | $25.69B | $25.05B | $25.16B | $26.06B | $26.35B | $26.18B | $25.66B | $24.19B |
| Total liabilities | $65.93B | $63.09B | $42.40B | $41.47B | $39.23B | $38.92B | $39.39B | $38.89B | $39.56B | $40.45B | $39.47B | $36.97B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $26.68B | $28.57B | $11.04B | $11.02B | $10.94B | $11.20B | $11.40B | $11.38B | $11.35B | $11.85B | $12.36B | $12.58B |
| Retained earnings (deficit) | $7.69B | $7.33B | $5.90B | $5.59B | $4.78B | $4.06B | $4.07B | $3.33B | $2.24B | $1.53B | $761.0M | $887.0M |
| Accumulated other comprehensive income | −$2.40B | −$2.42B | −$2.42B | −$2.26B | −$2.27B | −$2.31B | −$2.30B | −$2.13B | −$2.16B | −$2.18B | −$2.19B | −$1.80B |
| Minority interest | $345.0M | $337.0M | $336.0M | $342.0M | $357.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $31.98B | $33.48B | $14.52B | $14.35B | $13.45B | $12.96B | $13.17B | $12.57B | $11.43B | $11.20B | $10.93B | $11.67B |
| Key figures | ||||||||||||
| Total debt | $24.70B | $22.47B | $8.99B | $9.04B | $8.31B | $8.36B | $8.41B | $8.41B | $9.12B | $9.98B | $9.26B | $8.15B |
| Net cash (debt) | −$23.62B | −$21.30B | −$5.24B | −$4.95B | −$6.25B | −$6.51B | −$5.39B | −$6.62B | −$8.81B | −$9.42B | −$8.89B | −$6.27B |
| Working capital | $5.93B | $4.79B | $4.17B | $4.19B | $2.98B | $3.09B | $3.93B | $3.82B | $2.05B | $2.54B | $1.98B | $4.64B |
| Tangible book value | $20.45B | $21.96B | $14.10B | $13.93B | $13.03B | $12.54B | $12.75B | $11.73B | $10.86B | $10.62B | $10.35B | $11.67B |
| Book value per share | $90.33 | $94.58 | $46.23 | $45.85 | $42.82 | $41.26 | $41.93 | $40.03 | $36.16 | $35.22 | $34.14 | $36.12 |
| Shares outstanding | 354.0M | 354.0M | 314.0M | 313.0M | 314.0M | 314.0M | 314.0M | 314.0M | 316.0M | 318.0M | 320.0M | 323.0M |
| Current ratio | 1.46 | 1.36 | 1.53 | 1.56 | 1.48 | 1.47 | 1.57 | 1.70 | 1.35 | 1.43 | 1.31 | 1.88 |
| Quick ratio | 0.44 | 0.42 | 1.01 | 1.06 | 0.89 | 0.84 | 0.98 | 0.65 | 0.43 | 0.49 | 0.51 | 0.79 |
| Debt / equity | 0.77 | 0.67 | 0.62 | 0.63 | 0.62 | 0.65 | 0.64 | 0.67 | 0.80 | 0.89 | 0.85 | 0.70 |
| Equity / assets | 32.5% | 34.6% | 25.4% | 25.6% | 25.4% | 24.8% | 24.9% | 24.3% | 22.3% | 21.5% | 21.5% | 23.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
CEG financial position
At the end of fiscal 2025 (December 31, 2025), Constellation Energy had total assets of $57.2 billion (up 8.2% from a year earlier), total liabilities of $42.4 billion and shareholders' equity of $14.5 billion. It held $3.7 billion in cash and short-term investments against $9.0 billion of debt, net debt of $5.2 billion. Its current ratio was 1.53. In the latest quarter (ended June 30, 2026) total assets were $98.3 billion and equity $32.0 billion.
Related: CEG income statement, CEG cash flow statement, CEG key metrics. See the CEG stock overview for the latest quote and news.
CEG balance sheet FAQ
What are Constellation Energy's total assets?
Constellation Energy reported total assets of $57.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $52.9 billion a year earlier.
How much debt does Constellation Energy have?
Constellation Energy had $9.0 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.62.
How much cash does Constellation Energy have?
Constellation Energy held $3.7 billion in cash and short-term investments at the end of fiscal 2025; with $9.0 billion of debt that is net debt of $5.2 billion.
What is Constellation Energy's book value?
Constellation Energy's shareholders' equity (book value) was $14.5 billion at the end of fiscal 2025, or $46.23 per share.
What is Constellation Energy's current ratio?
Constellation Energy had current assets of $12.1 billion and current liabilities of $7.9 billion, a current ratio of 1.53 (it can cover its short-term obligations).
How much goodwill does Constellation Energy have?
Constellation Energy carried $420.0 million of goodwill and intangible assets, 0.7% of total assets, at the end of fiscal 2025.