Constellation Energy management check
CEG · Utilities · Electric Utilities · CEO Mr. Dominguez
Filings as of
7 good · 0 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2022 grew to $734, against $162 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 4 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.87 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.7% of net income$17.1m of reported pay in fiscal 2025, against $2.3bn of net income.
- Good
Do they own the stock?
Insiders are buying1 insider bought $418k on the open market in the last six months, with their own money, near the lows.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -1.6% a year over the last three fiscal years. Stock-based pay was 1.7% of revenue in the latest year.
- Good
Is leadership stable?
8 leadership filings in 3 yearsCEO in the pay table: Mr. Dominguez. 8 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Utilities.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 100 | 53 | |
| Pay for performance | 93 | 81 | |
| CEO cost | 61 | 50 | |
| Skin in the game | 80 | 45 | |
| Dilution | 69 | 37 | |
| Stable leadership | 85 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Electric Utilities, by management score. Constellation Energy is 1st of 30 in its sector.
- 30CEGConstellation Energy84
- 62VSTVistra Corp.79
- 143EIXEdison International72
- 145PPLPPL Corporation72
- 252EVRGEvergy64
- 254PEGPublic Service Enterprise Group64
- 270ETREntergy63
- 285LNTAlliant Energy62
- 338EXCExelon59
- 354ESEversource Energy58
Pay versus performance
From the proxy statement filed March 19, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Dominguez | $17.1m | $78.8m | $6.3m | $734 | $162 | $2.3bn |
| 2024 | — | $16.2m | $83.5m | $5.1m | $462 | $136 | $3.7bn |
| 2023 | — | $15.2m | $30.9m | $5.2m | $240 | $116 | $1.6bn |
| 2022 | — | $10.4m | $23.6m | $4.1m | $175 | $98 | −$160.0m |
Its other key measures: Adjusted Operating Earnings, CFO/Debt, Dispatch Match, Free Cash Flow before Growth, Fleetwide Capacity Factor, Customer Satisfaction.
Insiders and the CEO's stake
1 insider bought $418k on the open market in the last six months, with their own money, near the lows.
- BoughtRoger W CrandallDirector$418kAug 11, 2026
Leadership and governance on file
- Aug 5, 2026Leadership change8-K 5.02
- Mar 26, 2026Leadership change8-K 5.02
- Feb 10, 2026Leadership change8-K/A 5.02
- Jan 7, 2026Leadership change8-K 5.02
- Nov 21, 2025Leadership change8-K 5.02
- Nov 12, 2025Leadership change8-K 5.02
- Sep 29, 2025Leadership change8-K 5.02
- Dec 13, 2024Leadership change8-K 5.02
- Aug 2, 2023Leadership change8-K/A 5.02
- May 31, 2023Leadership change8-K 5.02
- Dec 9, 2022Leadership change8-K/A 5.02
- Oct 19, 2022Leadership change8-K 5.02
Latest shareholder vote results: May 1, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $3.9bn returned to owners in buybacks and dividends, 53% of net income, and $1.1bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $17.3bn | $21.6bn | $20.8bn | $19.0bn | $22.7bn |
| Net income | −$205.0m | −$160.0m | $1.6bn | $3.7bn | $2.3bn |
| Stock-based pay | $47.0m | $116.0m | $178.0m | $332.0m | $385.0m |
| Buybacks | $0 | $0 | $992.0m | $999.0m | $400.0m |
| Dividends | $0 | $185.0m | $366.0m | $444.0m | $486.0m |
| Diluted shares | 0m | 329m | 324m | 315m | 314m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.