Dominion Energy (D) Q4 FY2025 earnings: revenue $4.1 billion, up 20.4% on the year

Dominion Energy, Inc. (D) reported revenue of $4.1 billion for Q4 FY2025, the quarter ended 31 December 2025, up 20.4% on the same quarter a year earlier. Net income was $567 million, up 323.1% on the year, and diluted earnings per share $0.65. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2026.

Revenue

$4.1 billion

+20.4% on the year · -9.6% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

18.5%

11.5% a year earlier

Q1 FY2024Q4 FY2025

Net income

$567 million

+323.1% on the year · -43.6% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$0.65

+333.3% on the year · -44.0% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 new, 1 kept.

Full-year operating EPS rose to $3.42: Full-year 2025 operating earnings were $3.0 billion, or $3.42 per share, compared with $2.77 per share in 2024.
Fourth-quarter operating EPS reached $0.68: Fourth-quarter 2025 operating earnings were $593 million, or $0.68 per share, compared with $504 million, or $0.58 per share, a year earlier.
Virginia was the largest contributor: Dominion Energy Virginia earned $2.72 per share for 2025, up from $2.40, and $0.63 in the fourth quarter, up from $0.52.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	4,093	4,527	3,400	-9.6%	+20.4%
Operating income	756	1,339	391	-43.5%	+93.4%
Operating margin	18.5%	29.6%	11.5%
Pre-tax income	582	1,244	-248	-53.2%
Income tax	56.0	216	-104	-74.1%
Effective tax rate	9.6%	17.4%	n/a
Net income	567	1,006	134	-43.6%	+323.1%
Net margin	13.9%	22.2%	3.9%
Diluted EPS	$0.65	$1.16	$0.15	-44.0%	+333.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	987	1,945	641	-49.3%	+54.0%
Capital expenditure	3,386	3,041	3,506	+11.3%	-3.4%
Free cash flow	-2,399	-1,096	-2,865
Free cash flow margin	-58.6%	-24.2%	-84.3%
Cash from investing	-3,468	-3,116	-3,476
Cash from financing	1,758	1,824	1,298	-3.6%	+35.4%
Depreciation and amortisation	616	609	554	+1.1%	+11.2%
Dividends paid	570	570	561	0.0%	+1.6%
Dividend per share	$0.67	$0.67	$0.67	0.0%	0.0%
Diluted shares, weighted	n/a	855m	n/a
Shares outstanding at period end	879m	854m	852m	+2.9%	+3.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	29,083	27,691	27,253	+5.0%	+6.7%
Non-controlling interest	4,334	4,035	2,939	+7.4%	+47.5%
Short-term borrowings	2,457	2,522	2,500	-2.6%	-1.7%
Debt	46,332	43,291	39,320	+7.0%	+17.8%
Operating lease liabilities	697	n/a	644		+8.2%
Finance lease liabilities	436	n/a	214		+103.7%
Other liabilities	32,518	34,058	29,545	-4.5%	+10.1%
Total liabilities and equity	115,857	111,597	102,415	+3.8%	+13.1%
Fixed assets	78,967	75,810	68,862	+4.2%	+14.7%
Goodwill	4,143	4,143	4,143	0.0%	0.0%
Intangible assets	1,682	1,455	1,136	+15.6%	+48.1%
Investments	9,676	9,456	8,550	+2.3%	+13.2%
Cash and equivalents	250	932	310	-73.2%	-19.4%
Receivables	2,531	2,285	2,169	+10.8%	+16.7%
Inventory	1,957	1,894	1,764	+3.3%	+10.9%
Other assets	16,651	15,622	15,481	+6.6%	+7.6%
Total assets	115,857	111,597	102,415	+3.8%	+13.1%

Questions

What was Dominion Energy's revenue in Q4 FY2025?

Dominion Energy (D) reported revenue of $4.1 billion for Q4 FY2025, the quarter ended 31 December 2025, up 20.4% on the same quarter a year earlier.

How much did Dominion Energy earn in Q4 FY2025?

Net income for Q4 FY2025 was $567 million, up 323.1% on the year, and diluted earnings per share $0.65.

When did Dominion Energy report Q4 FY2025 results?

Dominion Energy filed its 10-K for the quarter ended 31 December 2025 with the SEC on 23 February 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 †	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 †	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 †	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 †	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,061	3,112	3,058	3,961	3,810	3,883	3,166	3,810	3,534	3,632	3,486	3,941	3,400	4,076	3,810	4,527	4,093	5,019	4,480	5,617
Operating income	937	643	-461	998	253	1,079	594	1,029	712	833	805	1,218	391	1,223	1,096	1,339	756	1,392	329	1,842
Operating margin	31%	21%	-15%	25%	7%	28%	19%	27%	20%	23%	23%	31%	12%	30%	29%	30%	18%	28%	7%	33%
Pre-tax income	1,048	443	-817	696	-211	876	513	893	449	694	586	1,150	-248	752	1,033	1,244	582	834	452	1,490
Tax rate	21%	32%	n/a	10%	n/a	20%	19%	22%	11%	8%	19%	19%	n/a	5%	21%	17%	10%	6%	27%	14%
Net income	1,341	689	-447	735	344	972	575	153	331	403	563	934	134	665	760	1,006	567	621	340	1,160
Net margin	44%	22%	-15%	19%	9%	25%	18%	4%	9%	11%	16%	24%	4%	16%	20%	22%	14%	12%	8%	21%
Diluted EPS	$1.63	$0.83	-$0.58	$0.91	-$0.07	$1.17	$0.69	$0.17	$0.30	$0.78	$0.64	$1.09	$0.15	$0.77	$0.88	$1.16	$0.65	$0.69	$0.37	$1.30
Operating cash flow	502	1,125	236	1,310	1,029	2,097	1,097	1,992	1,386	1,982	856	1,539	641	1,183	1,246	1,945	987	882	1,575	2,231
Capital expenditure	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	2,930	2,991	3,000	3,506	3,214	3,012	3,041	3,386	3,030	2,777	n/a
Free cash flow	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-948	-2,135	-1,461	-2,865	-2,031	-1,766	-1,096	-2,399	-2,148	-1,202	n/a
Dividends paid	510	541	555	557	556	557	558	559	559	559	560	559	561	569	569	570	570	587	587	587
Shares outstanding	810m	811m	832m	833m	835m	836m	837m	837m	838m	838m	839m	840m	852m	853m	853m	854m	879m	879m	880m	880m
Filing	8-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-Q	10-Q	10-K	10-K	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 23 February 2026: the filing.