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Constellation Energy vs NRG Energy: CEG and NRG compared
Constellation Energy is the larger company: $7.5B of revenue in its latest quarter (Q2 2026) against $7.5B for NRG Energy (Q2 2026). Constellation Energy is growing faster (+23% against +11% a year earlier). NRG Energy is more profitable, with an operating margin of 13.0% against 7.7%.
Where the money goes: CEG and NRG
Constellation Energy (CEG) · Q2 2026
Constellation Energy, Q2 2026: revenue $7.5B (+23% year over year), operating margin 7.7%, net earnings $513M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
NRG Energy (NRG) · Q2 2026
NRG Energy, Q2 2026: revenue $7.5B (+11% year over year), operating margin 13.0%, net earnings $506M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Constellation Energy (CEG) | NRG Energy (NRG) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 2026 |
| Revenue | $7.5B | $7.5B |
| Revenue growth, Y/Y | +23% | +11% |
| Operating margin | 7.7% | 13.0% |
| Net earnings | $513M | $506M |
| Net margin | 6.8% | 6.8% |
| Operating cash flow | $1.1B | $1.1B |
| Free cash flow | — | $779M |
| Market value | $86.3B | $17.1B |
| P/E | 24.9× | 20.1× |
| Analysts’ mean target | $337.77 | $166.94 |
Where the revenue comes from
Constellation Energy
- Total Power revenues: $5.4B (71%)
- Other revenues: $1.8B (24%)
- Gas revenues: $327M (4%)
Questions
Which is bigger, Constellation Energy or NRG Energy?
Constellation Energy is the larger company: $7.5B of revenue in its latest quarter (Q2 2026) against $7.5B for NRG Energy (Q2 2026).
Is Constellation Energy or NRG Energy growing faster?
Constellation Energy is growing faster (+23% against +11% a year earlier).
Which is more profitable, Constellation Energy or NRG Energy?
NRG Energy is more profitable, with an operating margin of 13.0% against 7.7%.
More: Constellation Energy earnings · how Constellation Energy makes money · NRG Energy earnings · how NRG Energy makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 6, 2026; 10-Q filed Aug 4, 2026). Fiscal quarters can end on different dates. Not investment advice.