“Operating Cash Flows Net cash provided by Dominion Energy’s operating activities increased $28 million, primarily due to higher operating cash flows from electric utility operations driven by riders and impacts from the 2025 Biennial Review ($754 million), pa…”10-Q · Jul 31, 2026 ↗
Dominion Energy, Inc.
D
Market read
Dominion Energy, Inc.'s current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
- Revenue increased 24.6% versus the comparable filing period.
- Operating margin fell 2.6 percentage points.
- Electric fuel and other energy-related purchases increased 67% ($563M), driven by higher commodity costs and increased purchased renewable energy credits ($65M).
Invalidation: The isolated read changes if D's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
- Revenue increased 24.6% versus the comparable filing period.
- Operating margin fell 2.6 percentage points.
- Net margin fell 4.1 percentage points.
- Electric fuel and other energy-related purchases increased 67% ($563M), driven by higher commodity costs and increased purchased renewable energy credits ($65M).
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +14.3% year over year.
- Operating margin changed +4.3 percentage points in the latest annual period.
- Net margin changed +4.1 percentage points in the latest annual period.
- Energy and commodity prices has repeated favorable evidence across 4 filings.
- Restructuring and cost reductions has repeated favorable evidence across 4 filings.
No qualifying adverse evidence was identified; that is not proof there is no downside.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 11, 2026
64.52Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Electric fuel and other energy-related purchases increased 63%, primarily due to higher commodity costs for electric utilities ($823 million) and an increase in the use of purchased renewable energy credits ($125 million), which are offset in operating revenu…”10-Q · Jul 31, 2026 ↗
“Impairment of assets and other charges increased 60%, primarily due to an increase in net charges for costs not expected to be recovered from customers on 100% of the CVOW Commercial Project ($33 million) and the disallowance of certain strategic undergroundi…”10-Q · Jul 31, 2026 ↗
“Relative to Virginia Power’s January 2026 construction update filing, the expected impact of tariffs is a net increase of approximately $0.1 billion as the increase discussed above related to April 2026 revision of Section 232 tariffs is partially offset by t…”10-Q · Jul 31, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.3× · EV/sales 6.1×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for D. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing presents a mixed picture
10-Q filed 2026-05-01 against the comparable filing from 2025-05-01.
What improved
- Revenue increased 24.6% versus the comparable filing period.
What weakened
- Operating margin fell 2.6 percentage points.
- Net margin fell 4.1 percentage points.
Filing receipts
“Interest and related charges increased 17%, primarily due to an increase in net issuances of long-term debt ($96 million), partially offset by decreased interest expense associated with rider deferrals ($20 million), which is offset in operating revenue and does not impact net income.”
“Interest and related charges increased 7%, primarily due to an increase in long-term debt borrowings ($29 million), partially offset by decreased interest expense associated with rider deferrals ($20 million), which is offset in operating revenue and does not impact net income.”
“Operating Cash Flows Net cash provided by Dominion Energy’s operating activities decreased $301 million, primarily due to lower deferred fuel and purchased gas cost recoveries ($508 million), an increase in interest payments primarily driven by higher borrowings ($203 million) and changes in working capital ($63 million), partially offset by a $473 million increase due to higher operating cash flows from electric utility operations driven by weather, riders and impacts from the 2025 Biennial Review.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind D
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
PWFiling-linked namecustomerOct 31, 2025 ▾
“2024 Net income attributable to Dominion Energy increased 8%, primarily due to higher rider equity returns reflecting capital investments at Virginia Power and an increase in net investment earnings on nuclear decommissioning trust funds, partially offset by…”
ENBEnbridge Inc.supplierFeb 23, 2026 ▾
“Revenue Included in Discontinued Operations Operating revenue for the gas distribution operations sold to Enbridge as part of the East Ohio, PSNC and Questar Gas Transactions primarily consists of state-regulated natural gas sales to residential, commercial a…”
Depended on by
AEPAmerican Electric Power Company, Inc.partnerJul 30, 2025 ▾
“Valley Link Investment (Applies to AEP and Transource Energy) In 2024, Transource Energy and affiliates of Dominion Energy and FirstEnergy formed Valley Link Transmission, LLC to participate in PJM’s 2024 Regional Transmission Expansion Plan competitive proce…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
D is currently a Early Follower in the organic co-movement group Regulated Electric Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.