NEE Research

02Risk & quality

• Consistency 20.0/20 — NEE has raised or maintained its dividend for 44 consecutive years, qualifying as a Dividend Aristocrat (25+ year streak). The dimension caps at 10 years, so 44 years comfortably clears the ceiling for full credit.
• Payout safety 10.0/20 — NEE's free cash flow payout ratio is 150.9%, above current profit. That means the dividend is being funded partly from cash on hand or new borrowing rather than current earnings — a sustainability flag unless it's a one-off earnings dip the company is bridging.
• Moat 19.6/20 — Scores how protected NEE's earnings stream is from competition. Operating in Utilities, NEE benefits from the kind of brand pricing power, regulatory position, or scale that lets margins hold up through economic cycles. Cyclical or commodity-driven sectors typically score in the single digits here.
• Growth rate 6.6/20 — NEE's dividend grew about 9.8% per year over 5 years — solid by absolute standards, but a notch below the 15-20% pace seen at growth-oriented dividend payers (think SCHD constituents). Familiar pattern for established staples already paying out most of what they earn — the runway for further hikes naturally narrows once payout ratios climb.
• Balance sheet 3.4/20 — A composite of ROE and inverse leverage. A low score here can mean weak return-on-equity, high debt, or both — for NEE, 10.3% ROE and 157% debt-to-equity. Doesn't directly threaten the current dividend if cash flow is healthy, but it does limit how much room the company has for future hikes or to absorb a downturn.

03Price reference

Below are statistical price references from the last 5 years of trading, anchored to historical drawdown events. They describe where the price has been — not where it should be.