Dominion Energy, Inc. (D) Stock

Dominion Energy, Inc. (D) is a Utilities stock trading at $66.59 (as of 2026-08-21), with a market capitalization of $58.57B and a trailing P/E of 19.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Dominion Energy, Inc. is an energy provider that generates, transmits, and distributes regulated electricity and natural gas, operating across segments including Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. Its utility services serve residential, commercial, industrial, and governmental customers in states such as Virginia, North Carolina, Ohio, West Virginia, South Carolina, Utah, Wyoming, and Idaho.

Understand Dominion Energy, Inc.: how it makes money

Dominion Energy generates and distributes regulated electricity and natural gas, earning revenue through utility rate-setting and project-related riders.

Dominion Energy's profit model is driven by regulated allowed revenue and rate mechanisms, including rider-based inputs tied to specific projects, such as the CVOW 2026 rate year revenue requirement (rider proposal) and offshore wind rider annual revenue.

Revenue by segment (latest quarter)
DE VA	$4.5B
Gas Dist	$0.1B
DE SC	$0.2B
Contracted	$0.1B

Business quality (Strong): Clarity is good on the regulated, rider-driven revenue model, but the segment revenue breakdown provided mixes company operating revenue and items labeled as operating earnings for some segments, so segment mapping to total revenue is necessarily approximate using only the supplied facts.

Valuation: At 20× earnings, D trades 9% below the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

Regulated utility footprint: Dominion Energy Virginia generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
Rider-linked revenue visibility: The company references a CVOW 2026 rate year revenue requirement (rider proposal) and offshore wind rider annual revenue, which indicates specific, project-related inputs can influence revenue.

Bear case

Dependence on regulatory outcomes: Revenue visibility relies on rate mechanisms and rider proposals tied to specific programs, which can be sensitive to regulatory approval, timing, and allowed recovery.
Earnings concentration across segments: Only a small set of segment-level operating earnings figures are provided for some operating units, which can indicate uneven contribution by segment and may raise volatility if any unit underperforms its regulatory plan.

Valuation — source: SEC EDGAR (first-party)
Price	$66.59
Market Cap	$58.57B
P/E Ratio	19.7
EV / EBITDA	8.7
Price / Book	1.74
Price / Sales	3.36
DCF Value (model)	$216.89
DCF Upside vs Price	225.7%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$16.51B
Net Margin	18.2%
Revenue Growth (YoY)	23.1%
EPS Growth (YoY)	-8.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	0.70 (distress)

Valuation vs Sector & Industry
Stock P/E	19.7
Sector P/E (Utilities)	20.8
Industry P/E (Utilities)	20.1
vs Sector	-5.5%
vs Industry	-1.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($6.27B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Utilities
Industry	Utilities
CEO	Robert Blue
Employees	14,700
Country	US
IPO Date	1980-03-17

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.