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NRG Energy vs Constellation Energy: NRG and CEG compared
NRG Energy is the larger company: $9.5B of revenue in its latest quarter (Q3 2026) against $7.5B for Constellation Energy (Q2 2026). NRG Energy is growing faster (+24% against +23% a year earlier). NRG Energy is more profitable, with an operating margin of 11.5% against 7.7%.
Where the money goes: NRG and CEG
NRG Energy (NRG) · Q3 2026
NRG Energy, Q3 2026: revenue $9.5B (+24% year over year), operating margin 11.5%, net earnings $544M. The chart follows the revenue to costs, profit and cash.
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) | Constellation Energy (CEG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $9.5B | $7.5B |
| Revenue growth, Y/Y | +24% | +23% |
| Operating margin | 11.5% | 7.7% |
| Net earnings | $544M | $513M |
| Net margin | 5.7% | 6.8% |
| Operating cash flow | — | $1.1B |
| Market value | $17.1B | $86.3B |
| P/E | 20.1× | 24.9× |
| Analysts’ mean target | $166.94 | $337.77 |
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, NRG Energy or Constellation Energy?
NRG Energy is the larger company: $9.5B of revenue in its latest quarter (Q3 2026) against $7.5B for Constellation Energy (Q2 2026).
Is NRG Energy or Constellation Energy growing faster?
NRG Energy is growing faster (+24% against +23% a year earlier).
Which is more profitable, NRG Energy or Constellation Energy?
NRG Energy is more profitable, with an operating margin of 11.5% against 7.7%.
More: NRG Energy earnings · how NRG Energy makes money · Constellation Energy earnings · how Constellation Energy makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 9, 2026; 10-Q filed Aug 6, 2026). Fiscal quarters can end on different dates. Not investment advice.