Duke Energy Corporation (DUK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-76.7%

$29.75

vs $127.94 price

Levered DCF

$70.32

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.74

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	18.58×	18.87×	17.87×	32.49×	21.23×	53.23×	18.03×	22.89×
P/B	1.76×	1.66×	1.52×	1.61×	1.64×	1.41×	1.42×	1.39×
P/S	2.83×	2.74×	2.57×	2.76×	3.28×	2.89×	2.65×	2.49×
EV / EBITDA	11.6×	11.21×	11.18×	12.44×	12.53×	15.44×	11.23×	12.02×
Gross margin	31.6%	50.1%	47.3%	45.1%	48.6%	48.6%	46.1%	42.9%
Operating margin	26.6%	26.1%	24.3%	20.9%	22.3%	19.6%	22.8%	19.1%
Net margin	15.4%	14.9%	9.8%	8.9%	15.9%	5.9%	14.9%	10.9%
Current ratio	0.55×	0.67×	0.74×	0.7×	0.62×	0.53×	0.62×	0.65×
Debt / equity	1.75×	1.7×	1.64×	1.52×	1.38×	1.34×	1.34×	1.32×
Interest coverage	2.36×	2.34×	2.35×	2.46×	2.49×	2.11×	2.59×	2.24×
Dividend yield	3.6%	3.9%	4.3%	4.0%	3.9%	4.2%	4.0%	4.0%
Payout ratio	66.4%	71.2%	114.2%	124.7%	79.7%	204.2%	71.2%	92.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.6%	9.0%	5.8%	5.2%	7.9%	2.9%	8.0%	6.1%
Return on invested capital	4.1%	4.0%	3.9%	3.3%	3.2%	3.0%	3.3%	2.9%
Return on assets	2.5%	2.4%	1.6%	1.4%	2.3%	0.8%	2.4%	1.8%
Free cash flow yield	-1.8%	0.1%	-3.6%	-6.9%	-1.8%	-1.6%	-4.4%	-3.6%
Earnings yield	5.5%	5.4%	3.8%	3.2%	4.8%	2.0%	5.6%	4.4%
Enterprise value	$181.7B	$168.1B	$155B	$153.8B	$148.6B	$131.3B	$128.9B	$118.6B
Net debt / EBITDA	5.78×	5.66×	5.78×	6.03×	5.73×	7.51×	5.44×	5.83×
Cash conversion cycle (days)	37	33	53	29	40	50	38	36