Company profile
SEC EDGAR ↗- Industry
- Electric Services
- Listed
- NYSE: NEE
- Incorporated
- FL
- Headquarters
- Juno Beach, FL
- Fiscal year end
- Dec 31
Financials
FY2025- Revenue
- $25.8B
- Net income
- $6.83B
- Total assets
- $212.7B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $25.8B | $6.83B | $212.7B |
| FY2024 | $23.5B | $6.95B | $190.1B |
| FY2023 | $24.8B | $7.31B | $177.5B |
| FY2022 | $23.0B | $4.15B | $158.9B |
| FY2021 | $18.8B | $3.57B | $140.9B |
| FY2020 | $17.0B | $2.92B | $127.7B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
Decisions on record
One verified Decision Case on NextEra Energy, and the casebook each one belongs to.
| Fork date | Decision type | What NextEra Energy chose | Where it stood | The story | Casebook |
|---|---|---|---|---|---|
| 2018 | Adjacency Expansion | Acquire Gulf Power package | about $190 billion in total assets, with nearly $139 billion sunk into property, plant and equipment (2024) | Read the story → | Adjacency Expansion Casebook → |
Run one of these yourself
The decisions NextEra Energy faced, as kits you can run.
Each pack takes one of these decisions and gives you the framework, a deck for the room, a model that resolves to one number, and the sourced cases behind it. $499, one-time.
Growth & PortfolioThe Adjacency ExpansionWhen does the business next door belong to you?See the pack →Business ModelThe Cross-SubsidyWhich unit pays for the others, and has anybody ever approved it?See the pack →Decision ForksThe All-In BetHow much does this bet commit before anybody outside the company acts on it?See the pack →
The analyses
The Adjacency Expansion · Growth & Portfolio
NextEra Calls Itself the World's Biggest in Clean Energy. The Florida Utility Is What Pays for It.
NextEra is the world's largest generator of wind and solar power — but only by MWh produced, a metric it picks itself. The unglamorous Florida monopoly funds the whole thing, and a 2022 eagle-death guilty plea shows what scale without permitting discipline costs.
8 min
The Adjacency Expansion · Growth & Portfolio
NextEra Looks Like a Conglomerate. It's Actually the Most Single-Minded Company in Power.
NextEra runs a regulated Florida utility, the world's largest wind-and-solar fleet, and a publicly traded YieldCo. It looks like sprawl. It's the opposite: $134 billion since 2013 poured into one idea — own the cheapest clean electron.
8 min
The Cross-Subsidy · Business Model
In 2024, NextEra's Boring Utility Out-Earned the Renewables Arm It Supposedly Subsidizes
The story is that boring, regulated Florida Power & Light bankrolls NextEra's flashy wind-and-solar business. But in 2024 FPL earned $4.54 billion to the renewables arm's $2.30 billion — and the renewables arm spends more capital. The subsidy runs in reverse.
8 min
The Fork in the Road · Decision Forks
NextEra Was the World's Biggest Wind Owner Before It Even Had the Name
The legend says NextEra bet the company on renewables. The filings say something sharper: a Florida utility's subsidiary quietly harvested federal tax credits into 3,912 MW of wind by 2006 — four years before the parent company was even called NextEra.
8 min
Tools to try
- Ansoff move finderFramework: Ansoff Matrix
- Business model canvas builderFramework: Business Model Canvas
- Change readiness checkFramework: Kotter's 8-Step Change Model
- Five Forces scorerFramework: Porter's Five Forces
- SMART goal builderFramework: SMART Goals
- SWOT builderFramework: SWOT Analysis
More from Stratrix
The Business Model Wizard
Make the seven choices that define your model, test your numbers against real companies, and meet the rival AI would build against you.
Free · about twelve minutesBuild your Model Thesis →Test a decision, free
Set a live decision against the companies that made it before you.
AcquisitionsThe Distance TestDivestituresThe Divestiture TestDiversificationThe Diversification TestMake or buyThe Make-or-Buy TestWeekly email
Stratonomics, every Tuesday
One data story every Tuesday: what happened, what it means, and the figures you can quote. Free.