NEEMEDIUM SIGNALFINANCIAL10-K

NEE expanded its generation capacity to 80 gigawatts while removing "leader in the renewable energy industry" language from its business description.

The capacity expansion from 72 to 80 gigawatts represents meaningful growth in NEE's asset base, supporting future earnings potential. However, the removal of renewable energy leadership language may signal a strategic shift or more conservative positioning in competitive markets.

Comparing 2026-02-13 vs 2025-02-14View on EDGAR →
FINANCIAL ANALYSIS

NEE's balance sheet reflects solid expansion with total assets growing 11.9% to $212.7B and cash position substantially higher at $2.8B versus $1.5B. Operating income increased 10.7% to $8.3B while dividend payments grew 10.5% to $4.7B, indicating healthy cash generation. The overall picture shows a utility continuing to invest in growth while maintaining disciplined capital allocation through steady dividend increases.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
+89.1%
$1.5B→$2.8B

Cash position surged 89.1% — strong cash generation or capital raise providing significant financial cushion.

Accounts Receivable
Balance Sheet
+20.4%
$3.3B→$4.0B

Receivables grew 20.4% — monitor days sales outstanding for collection efficiency.

Current Assets
Balance Sheet
+13.7%
$12.0B→$13.6B

Current assets grew 13.7% — improving short-term liquidity or inventory/receivables build.

Total Liabilities
Balance Sheet
+13.1%
$129.3B→$146.2B

Liabilities increased 13.1% — monitor debt-to-equity ratio and interest coverage.

Total Assets
Balance Sheet
+11.9%
$190.1B→$212.7B

Asset base grew 11.9% — expansion through organic growth, acquisitions, or capital deployment.

Operating Income
P&L
+10.7%
$7.5B→$8.3B

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Dividends Paid
Cash Flow
+10.5%
$4.2B→$4.7B

Dividend payments increased 10.5% — management confidence in sustained cash generation.

Current Liabilities
Balance Sheet
-10%
$25.4B→$22.8B

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2026-02-13
PRIOR — 2025-02-14
ADDED
held by non-affiliates at June 30, 2025 (based on the closing market price on the Composite Tape on June 30, 2025) was $ 142,860,484,569 .
There was no voting or non-voting common equity of Florida Power Light Company held by non-affiliates at June 30, 2025.
Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A.
Form 10-K Summary 129 Signatures 130 FORWARD-LOOKING STATEMENTS This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Business OVERVIEW NEE is one of the largest electric power and energy infrastructure companies in North America.
As of December 31, 2025, NEE had approximately 80 gigawatts of net generation and storage capacity from a diverse portfolio of assets, primarily including natural gas, wind, solar and nuclear generation facilities and battery storage facilities.
NEER is one of t he largest energy infrastructure developers in the U.S.
NEER s strategic focus is centered on the development, construction and operation of long-term contracted generation facilities, including renewables, nuclear and natural gas, as well as battery storage facilities.
NEER also builds and owns regulated electric and gas transmission assets, is a leading gas and power supplier, and delivers integrated energy and technology solutions to utilities and businesses across the U.S.
NEE seeks to create value in its two principal businesses by meeting customer needs more economically and reliably than its competitors.
REMOVED
held by non-affiliates at June 28, 2024 (based on the closing market price on the Composite Tape on June 28, 2024) was $ 145,437,269,170 .
There was no voting or non-voting common equity of Florida Power Light Company held by non-affiliates at June 28, 2024.
Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 7A.
Form 10-K Summary 125 Signatures 126 FORWARD-LOOKING STATEMENTS This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Business OVERVIEW NEE is one of the largest electric power and energy infrastructure companies in North America and a leader in the renewable energy industry.
At December 31, 2024, NEE had approximately 72 gigawatts of net generation and storage capacity from a diverse portfolio of assets, primarily including natural gas, wind, solar and nuclear generation facilities and battery storage facilities.
FPL is the largest electric utility in the state of Florida and one of the largest electric utilities in the U.S.
NEER is the world's largest generator of renewable energy from the wind and sun, as well as a world leader in battery storage capacity.
NEER s strategic focus is centered on the development, construction and operation of long-term contracted assets throughout the U.S.
and Canada, primarily renewable generation facilities, and electric transmission facilities, as well as providing other energy solutions to its customers.
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