# Dominion Energy (D) Forecast Calculator

Interactive five-year financial forecast and DCF for Dominion Energy. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/dominion-energy/forecast
- Industry: Utilities
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 13745000000 | 4649000000 | 3827000000 | 1358000000 |
| 2022 | 13752000000 | 4742000000 | 4387000000 | -401000000 |
| 2023 | 11661000000 | 3400000000 | 4113000000 | 3399000000 |
| 2024 | 14552000000 | 2721000000 | 3889000000 | 1191000000 |
| 2025 | 13487000000 | 5487000000 | 5994000000 | 1962000000 |

## Frequently asked questions

### What does Dominion Energy do, and where does it primarily operate?

Dominion Energy is a regulated electric utility holding company providing electricity to approximately 3.6 million homes and businesses. Following a strategic review, it transitioned to a pure-play electric utility, primarily operating in Virginia and South Carolina.

### How does Dominion Energy generate revenue, and what are its key growth drivers?

As an asset-heavy regulated utility, Dominion Energy's earnings are driven by its capital investments, known as the 'rate base,' and a regulator-approved Return on Equity. A significant growth driver is the unprecedented data center load growth in its service territories, particularly in Virginia, where data centers account for roughly 26% of Dominion Energy Virginia's total electric load.

### What is the assumed capital expenditure as a percentage of revenue in the Dominion Energy financial model?

In the financial model, the assumed capital expenditure (Capex) as a percentage of revenue is 5.56%. This reflects the company's significant investment needs as a capital-intensive utility.

### What are Dominion Energy's strategic financial targets, and how does it plan to achieve them?

Dominion Energy aims to achieve a 5-7% EPS growth target while maintaining its BBB+ credit rating. This is planned through a $65 billion capital expenditure program and rate base expansion, driven partly by data center load growth.

### Can I download a financial model for Dominion Energy, and what is its forecast horizon?

Yes, a downloadable Excel financial model is available for Dominion Energy. This model provides a forecast horizon spanning from fiscal year 2026 through fiscal year 2030.

### How has Dominion Energy's business model changed recently, and what are its primary asset categories?

Dominion Energy recently transitioned to a pure-play electric utility by divesting its gas distribution businesses to Enbridge for approximately $14 billion. Its primary asset categories include Net Property, Plant & Equipment, which constitutes over 70% of total assets, and material Regulatory Assets.