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Duke Energy (DUK) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Duke Energy (DUK) Q3 2026 earnings results →
Q3 2026 Revenue up 7% year over year to $9.1B · 17¢ of every $1 of revenue kept as net profit · operating margin 30.2%
Duke Energy made $9.1B in Q3 2026 (+7% Y/Y): Electric Utilities and Infrastructure $8.8B, Gas Utilities and Infrastructure $347M. Operating margin 30.2%, net earnings $1.6B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $9.1B in Q3 2026, up 7% year over year. Electric Utilities and Infrastructure was the largest line at 96% of revenue. Electric Utilities and Infrastructure added $0.70B year over year (up 9%), 125% of the total change.
Operating profit was $2.7B, a 30.2% margin (up 2.8 points year over year). Of the extra revenue versus Q3 2025, 73% reached operating profit, above the 27% margin then. Total costs grew 2% against revenue growth of 7%. Net earnings were $1.6B, up 10% year over year. The effective tax rate was 15.3%.
Operating cash flow was $3.6B (roughly flat year over year), 219% of net income including minority interests. Non-cash charges added back $1.8B of depreciation and amortization. Capital expenditures of $4.3B exceeded it, leaving free cash flow of −$0.71B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $9.1B | +7% | 30.2% | $1.6B | $3.6B |
| Q2 2026 | 10-Q | Aug 4, 2026 | $7.6B | +1% | 27.0% | $1.1B | $2.8B |
| Q1 2026 | 10-Q | May 5, 2026 | $9.2B | +11% | 29.7% | $1.6B | $1.5B |
| Q4 2025 | 10-K | Feb 26, 2026 | $7.9B | +8% | 26.7% | $1.2B | $3.7B |
| Q3 2025 | 10-Q | Nov 7, 2025 | $8.5B | +5% | 27.3% | $1.4B | $3.6B |
| Q2 2025 | 10-Q | Aug 5, 2025 | $7.5B | +5% | 24.4% | $984M | $2.9B |
| Q1 2025 | 10-Q | May 6, 2025 | $8.2B | +8% | 28.4% | $1.4B | $2.2B |
Charts
In supply chains and themes
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
Buys from
- WMB — 9% of the supplier’s revenue · Stated in 10-K (sentence) · source
- Northwest Pipeline LLC — 9% of the supplier’s revenue · Stated in 10-K (sentence) · source
About Duke Energy
Duke Energy was incorporated on May 3, 2005, and is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also Subsidiary Registrants, including Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont. Operations in Kentucky are conducted through Duke Energy Ohio's wholly owned subsidiary, Duke Energy Kentucky. References herein to Duke Energy Ohio include Duke Energy Ohio and its subsidiaries, unless otherwise noted.
In its own words, from its 10-K, filed Feb 26, 2026.
Duke Energy against its Electric & Other Services Combined peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +7%. Operating margin: 30.2% against the peers' median 22.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| DUK Duke Energy | Q3 2026 | $9.1B | +7% | 30.2% |
| Pepco Holdings LLC | Q3 2026 | $7.3B | +9% | 18.8% |
| EXC Exelon | Q1 2026 | $7.2B | +8% | 22.2% |
| PCG PG&E | Q3 2026 | $6.2B | -1% | 20.2% |
| ED Consolidated Edison | Q3 2026 | $4.9B | +8% | 23.8% |
| XEL Xcel Energy | Q3 2026 | $4.2B | +7% | 28.5% |
| Consolidated Edison Co of New York | Q2 2026 | $4.1B | +13% | 13.6% |
| PEG Public Service Enterprise Group | Q3 2026 | $3.0B | -6% | 20.6% |
| AEE Ameren | Q3 2026 | $2.9B | +7% | 31.2% |
Source: Duke Energy 10-Q on SEC EDGAR · CIK 1326160 · Electric & Other Services Combined
Guidance and outlook
13F: who owns DUK and who is buying
More on DUK
- How Duke Energy makes money: revenue by segment
- Duke Energy next earnings date and what analysts expect
- Duke Energy stock forecast, price target and fair value
- Who owns Duke Energy stock: holders, funds and Congress trades
- Duke Energy guidance and outlook
- Is Duke Energy a takeover target? LBO and rumors
- Duke Energy recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results