Dominion Energy (D) AI Stock Analysis

• Market Cap: $51.38B
• Dividend Yield: 4.59%
• Average Volume (3M): 5.65M
• Price to Earnings (P/E): 20.5
• Beta (1Y): 0.11
• Revenue Growth: 12.72%
• EPS Growth: 4.90%
• Country: US
• Employees: 14,700
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Electric
• EPS (TTM): 1.06
• Shares Outstanding: 853,913,270
• 10 Day Avg. Volume: 4,756,306
• 30 Day Avg. Volume: 5,652,197
• PEG Ratio: 8.44
• Price to Book (P/B): 1.66
• Price to Sales (P/S): 3.13
• P/FCF Ratio: -6.10
• Enterprise Value/Market Cap: 1.95
• Enterprise Value/Revenue: 6.32
• Enterprise Value/Gross Profit: 12.50
• Enterprise Value/Ebitda: 12.30
• 1Y Price Target: $64.13
• Price Target Upside: 6.83% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 9
• EPS Forecast (FY): 3.6
• Revenue Forecast (FY): $17.03B

• Rating: 65 Neutral
• Price Target: $65.00 ▲(8.28% Upside)

The score is driven primarily by mixed financial quality: strong operating margins and improved leverage are offset by sharply weaker profitability and significant negative free cash flow. Technicals are supportive with price above major moving averages, while valuation is helped by a strong dividend but tempered by a mid-range P/E. Earnings call and recent CVOW developments reinforce a stable base outlook with ongoing project cost/regulatory risks.

Positive Factors

Regulated utility business model

Dominion’s regulated electric and gas franchises provide predictable, rate‑regulated cash flows and allowed returns, supporting multi‑year infrastructure spending and dividend stability. This structural revenue base cushions earnings volatility versus merchant generators and underpins capital planning.

Improved leverage

A materially lower debt‑to‑equity ratio reduces refinancing and interest expense risk and increases financial flexibility to fund capex or absorb project overruns. Improved leverage durablely strengthens credit profile and capacity to invest in renewables and grid upgrades over coming quarters.

CVOW construction resumed

Resumption of the 2.6GW CVOW project preserves a flagship renewable asset and prevents prolonged schedule slippage. Delivering this capacity supports Dominion’s long‑term generation diversification, secures contracted supply for regional demand, and advances its strategic positioning in U.S. offshore wind.

Negative Factors

Negative free cash flow

Sustained materially negative FCF (-$7.7B TTM) weakens liquidity and limits internally funded capex, dividends, and project commitments without external financing. Over several quarters this pressures financial flexibility, may require more equity/debt issuance, and raises execution and refinancing risk.

CVOW cost increases and vessel delays

Escalating CVOW costs and installation vessel delays indicate project execution risk on a multi‑billion flagship asset. Higher capex and timetable uncertainty can strain cash flow and require additional financing or regulatory recovery mechanisms, challenging returns and capital allocation for other priorities.

Declining profitability metrics

Falling gross and net margins signal rising input costs or pricing pressure that erodes earnings quality. Combined with lower ROE, margin compression reduces retained earnings and free cash generation, making it harder to fund growth and sustain returns without efficiency gains or regulatory rate relief.

Dominion Energy Business Overview & Revenue Model

Company Description

Dominion Energy, Inc. produces and distributes energy in the United States. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina. The Gas Distribution segment is involved in the regulated natural gas sales, transportation, gathering, storage, and distribution operations in Ohio, West Virginia, North Carolina, Utah, southwestern Wyoming, and southeastern Idaho that serve approximately 3.1 million residential, commercial and industrial customers. It also has nonregulated renewable natural gas facilities in operation. The Dominion Energy South Carolina segment generates, transmits, and distributes electricity to approximately 772,000 customers in the central, southern, and southwestern portions of South Carolina; and distributes natural gas to approximately 419,000 residential, commercial, and industrial customers in South Carolina. The Contracted Assets segment is involved in the nonregulated long-term contracted renewable electric generation and solar generation facility development operations; and gas transportation, LNG import, and storage operations, as well as in the liquefaction facility. As of December 31, 2021, the company's portfolio of assets included approximately 30.2 gigawatt of electric generating capacity; 10,700 miles of electric transmission lines; 78,000 miles of electric distribution lines; and 95,700 miles of gas distribution mains and related service facilities. The company was formerly known as Dominion Resources, Inc. Dominion Energy, Inc. was incorporated in 1983 and is headquartered in Richmond, Virginia.

How the Company Makes Money

Dominion Energy generates revenue primarily through the sale of electricity and natural gas to residential, commercial, and industrial customers. The company's utility operations are regulated, which allows it to earn a stable return on its investments in infrastructure and service delivery. Key revenue streams include retail electricity sales, natural gas distribution, and the development of renewable energy projects that may qualify for tax credits and incentives. Additionally, Dominion Energy benefits from significant partnerships and joint ventures in renewable energy projects, which help diversify its earnings and align with the growing demand for clean energy solutions.

Dominion Energy Financial Statement Overview

Summary

Revenue is growing (3.85% TTM) and operating efficiency remains strong (EBIT margin 24.05%, EBITDA margin 44.88% TTM), with improved leverage (debt-to-equity 0.67 TTM vs. 1.53 in 2024). Offsetting this, profitability has weakened (gross margin 34.67% TTM vs. 47.87% in 2024; net margin 8.42% TTM vs. 14.69% in 2024) and free cash flow is deeply negative (-$7.746B TTM), raising funding and liquidity risk.

Income Statement

Dominion Energy shows a steady revenue growth rate of 3.85% TTM, indicating a positive trajectory. However, the gross profit margin has decreased from 47.87% in 2024 to 34.67% TTM, suggesting rising costs or pricing pressures. The net profit margin also declined to 8.42% TTM from 14.69% in 2024, reflecting reduced profitability. Despite these challenges, the EBIT and EBITDA margins remain strong at 24.05% and 44.88% TTM, respectively, showcasing operational efficiency.

Balance Sheet

The debt-to-equity ratio improved significantly to 0.67 TTM from 1.53 in 2024, indicating better leverage management. However, the return on equity decreased to 4.70% TTM from 7.79% in 2024, suggesting reduced effectiveness in generating returns from equity. The equity ratio remains stable, reflecting a balanced capital structure.

Cash Flow

Operating cash flow is stable at $5.015 billion TTM, but free cash flow remains negative at -$7.746 billion TTM, indicating potential liquidity issues. The free cash flow growth rate is negative, and the free cash flow to net income ratio is -0.32 TTM, highlighting challenges in converting income into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	15.81B	14.46B	14.39B	13.94B	11.42B	14.17B
Gross Profit	8.00B	6.92B	6.96B	6.38B	5.41B	7.30B
EBITDA	8.12B	6.71B	6.82B	6.37B	5.39B	6.93B
Net Income	2.34B	2.12B	1.99B	1.32B	3.40B	-401.00M
Balance Sheet
Total Assets	111.60B	102.42B	109.03B	104.80B	99.59B	95.91B
Cash, Cash Equivalents and Short-Term Investments	1.07B	310.00M	184.00M	119.00M	283.00M	172.00M
Total Debt	48.55B	41.75B	44.24B	41.20B	40.58B	37.01B
Total Liabilities	79.87B	72.22B	81.51B	77.14B	72.28B	69.44B
Stockholders Equity	27.69B	27.25B	27.53B	27.66B	27.31B	26.12B
Cash Flow
Free Cash Flow	-7.75B	-7.41B	-3.66B	-4.06B	-2.02B	-1.10B
Operating Cash Flow	5.01B	5.02B	6.57B	3.70B	4.04B	5.23B
Investing Cash Flow	-13.06B	-3.18B	-7.21B	-6.75B	-6.25B	-2.92B
Financing Cash Flow	7.21B	-1.77B	595.00M	2.98B	2.37B	-2.33B

Dominion Energy Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 60.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For D, the sentiment is Positive. The current price of 60.03 is above the 20-day moving average (MA) of 59.70, above the 50-day MA of 59.56, and above the 200-day MA of 57.69, indicating a bullish trend. The MACD of 0.35 indicates Negative momentum. The RSI at 51.36 is Neutral, neither overbought nor oversold. The STOCH value of 48.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for D.

Dominion Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AEP	70 Outperform	$63.97B	17.52	12.85%	3.25%	7.66%	37.42%
DUK	70 Outperform	$94.37B	19.08	9.92%	3.61%	4.80%	14.44%
EXC	67 Neutral	$45.24B	16.03	10.31%	3.68%	6.07%	15.20%
PEG	66 Neutral	$41.11B	19.79	12.58%	3.13%	18.29%	2.40%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
D	65 Neutral	$51.38B	20.47	9.27%	4.59%	12.72%	4.90%
XEL	65 Neutral	$44.99B	23.20	9.45%	3.09%	3.32%	-2.30%

Dominion Energy Corporate Events

Dominion Energy Updates Offshore Wind Project Costs and Timeline

On January 30, 2026, Dominion Energy reported updated cost and timing guidance for its Coastal Virginia Offshore Wind (CVOW) project after a temporary suspension of work stemming from a December 2025 order from the U.S. Department of the Interior’s Bureau of Ocean Energy Management and the impact of tariffs. The estimated total project cost, including contingency but excluding financing, has risen from about $11.2 billion to approximately $11.5 billion, and full project completion is now expected in early 2027, though first power delivery remains targeted for the first quarter of 2026. Dominion said the project is roughly 71% complete, fully permitted at the state and federal levels, and positioned as a key, bipartisan-backed component of Virginia’s energy strategy, delivering nearly 3 GW to support AI and cyber demand, shipbuilding and military installations, while creating about 2,000 U.S. jobs and $2 billion in economic activity, which underscores both its strategic importance and the cost and schedule risks inherent in large offshore wind developments.

The most recent analyst rating on (D) stock is a Hold with a $69.00 price target. To see the full list of analyst forecasts on Dominion Energy stock, see the D Stock Forecast page.

Dominion Energy Wins Injunction to Resume Offshore Wind

On January 16, 2026, the U.S. District Court for the Eastern District of Virginia granted Dominion Energy and its subsidiary Virginia Electric and Power Company a preliminary injunction, allowing construction work on the Coastal Virginia Offshore Wind (CVOW) project to resume despite a December 22, 2025 federal order that had called for a 90-day suspension. With the injunction in place, Dominion will restart activities on the 176-turbine, 2.6-gigawatt offshore wind project—designed to power up to 660,000 homes—while its legal challenge to the Bureau of Ocean Energy Management’s suspension proceeds, preserving momentum on a flagship asset that is central to the company’s diversified energy strategy and its positioning as a major player in U.S. offshore wind.

The most recent analyst rating on (D) stock is a Hold with a $65.00 price target. To see the full list of analyst forecasts on Dominion Energy stock, see the D Stock Forecast page.

Dominion Energy Challenges Suspension of Coastal Virginia Wind

On December 22, 2025, Dominion Energy responded to a U.S. Department of Interior Bureau of Ocean Energy Management order that immediately imposed a 90-day suspension of all work on the Coastal Virginia Offshore Wind project, in which its subsidiary Virginia Electric and Power Company owns 50% of OSW Project LLC. The company warned that halting the more-than-decade-in-development, 2,600-megawatt offshore wind project, located 27 to 44 miles off Virginia’s coast, risks undermining grid reliability for critical military, data center and civilian infrastructure, could drive up energy costs, and threatens thousands of jobs, while noting the project has longstanding military coordination, enjoys bipartisan support, and is central to meeting surging regional power demand under Virginia’s all-of-the-above energy strategy.

The most recent analyst rating on (D) stock is a Hold with a $64.00 price target. To see the full list of analyst forecasts on Dominion Energy stock, see the D Stock Forecast page.

Dominion Energy Expands Sales Agreements for $1.8 Billion

On October 28, 2025, Dominion Energy announced an increase in the authorized amount for its sales agency agreements to make available $1.8 billion in shares of its common stock. This move, involving multiple financial institutions as sales agents and forward purchasers, is part of an at-the-market program allowing the company to issue and sell shares over time. The company also entered into additional agreements and amendments on October 31, 2025, to facilitate forward sale transactions, potentially impacting its financial strategy and market operations.

The most recent analyst rating on (D) stock is a Buy with a $67.00 price target. To see the full list of analyst forecasts on Dominion Energy stock, see the D Stock Forecast page.