Duke Energy (DUK) analysis

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Health is the debt of the networks, not of a return already signed. Quality separates the electricity margin from gas. Growth follows customers and assets in the rate, not the headline of a project. P/E is read against a year of little repair, not against that year as normal. Shareholder return is the dividend, checked against cash. Do not read it as a dividend that does not move.

The P/E of a quiet year is not the earnings if the storm stays outside the rate. EV/EBITDA is read without treating invested capital as a return already collected. Do not use Southern's multiple, which carries another plant, as if the two networks were the same book. A dash if DUK is missing.

Limits of this report

Not advice on Duke. Vaultflake does not treat the return as guaranteed and does not describe how electricity is generated. Read the filings. A past dividend is not a right. The table is a snapshot, not a target price.

Questions from this report