Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin26.6%
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin15.4%
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Financial Health
F
Years to Pay Off Debt18.3 yrs
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital vs Long-Term Debt-$89.5B
Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.
Working Capital-$9.4B
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Valuation
N/A
Cash Flow
F
Free Cash Flow-$1.7B
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
CapEx % of Net Income282.3%
Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.
Owner Earnings$26.7B
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
Metric Explanations
What each dimension measures and where the thresholds come from.
Gross Profit Margin
Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Years to Pay Off Debt
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital vs Long-Term Debt
Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.
Working Capital
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Free Cash Flow
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
CapEx % of Net Income
Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.
Owner Earnings
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
Market Data
Key Margins
Gross Profit51.2%
Operating Margin26.6%
Net Margin15.4%
Company Info
Showing Key Metrics
Income Highlights
Metric
2025
2024
2023
2022
Gross Profit %
51.2%▲
50.1%▲
47.3%▲
45.1%
Operating Margin %
26.6%▲
26.1%▲
24.4%▲
22.3%
Net Income %
15.4%▲
14.9%▲
9.8%▲
8.9%
Diluted EPS
6.31▲
5.71▲
3.54▲
3.33
Balance Sheet Highlights
Metric
2025
2024
2023
2022
2021
Total Assets
$195.7B
$186.3B
$176.9B
$178.1B
N/A
Total Debt
$90.9B▲
$85.2B▲
$80.5B▲
$74.6B•
N/A
Working Capital
-$9.4B▼
-$6.4B▼
-$4.5B▲
-$5.7B•
N/A
Years to Pay Debt
18.29
18.84
28.32
29.25
N/A
Cash Flow Highlights
Metric
2025
2024
2023
2022
2021
Free Cash Flow
-$1.7B▼
$48M▲
-$2.7B▲
-$5.4B•
N/A
Owner Earnings
$26.7B
$23.2B
$21.5B
$19.8B
N/A
CapEx % of Net Income
282.3%
271.4%
443.6%
445.8%
N/A
Income Statement
2025
2024
2023
2022
Tax Effect Of Unusual Items
42,373
25,104
15,160
-15,817
Tax Rate For Calcs
0
0
0
0
Normalized EBITDA
16,673,000
14,776,000
13,700,000
12,575,000
Total Unusual Items
377,000
221,000
165,000
-215,000
Total Unusual Items Excluding Goodwill
377,000
221,000
165,000
-215,000
Net Income From Continuing Operation Net Minority Interest
4,967,000
4,514,000
4,296,000
3,873,000
Reconciled Depreciation
7,704,000
6,419,000
6,084,000
5,843,000
Reconciled Cost Of Revenue
14,359,000
14,534,000
14,473,000
15,035,000
EBITDA
17,050,000
14,997,000
13,865,000
12,360,000
EBIT
9,346,000
8,578,000
7,781,000
6,517,000
Net Interest Income
-3,583,000
-3,321,000
-2,985,000
-2,412,000
Interest Expense
3,634,000
3,384,000
3,014,000
2,439,000
Interest Income
51,000
63,000
29,000
27,000
Normalized Income
4,632,373
4,318,104
4,146,160
4,072,183
Net Income From Continuing And Discontinued Operation
4,968,000
4,524,000
2,841,000
2,550,000
Total Expenses
23,660,000
22,419,000
21,957,000
22,344,000
Total Operating Income As Reported
8,626,000
7,926,000
7,070,000
6,012,000
Diluted Average Shares
777,000
772,000
771,000
770,000
Basic Average Shares
777,000
772,000
771,000
770,000
Diluted EPS
0
0
0
0
Basic EPS
0
0
0
0
Diluted NI Availto Com Stockholders
4,912,000
4,402,000
2,735,000
2,444,000
Net Income Common Stockholders
4,912,000
4,402,000
2,735,000
2,444,000
Otherunder Preferred Stock Dividend
0
16,000
0
0
Preferred Stock Dividends
56,000
106,000
106,000
106,000
Net Income
4,968,000
4,524,000
2,841,000
2,550,000
Minority Interests
-103,000
-90,000
-33,000
95,000
Net Income Including Noncontrolling Interests
5,071,000
4,614,000
2,874,000
2,455,000
Net Income Discontinuous Operations
1,000
10,000
-1,455,000
-1,323,000
Net Income Continuous Operations
5,070,000
4,604,000
4,329,000
3,778,000
Tax Provision
642,000
590,000
438,000
300,000
Pretax Income
5,712,000
5,194,000
4,767,000
4,078,000
Other Income Expense
718,000
577,000
649,000
66,000
Other Non Operating Income Expenses
290,000
365,000
371,000
168,000
Special Income Charges
377,000
221,000
165,000
-215,000
Gain On Sale Of Ppe
45,000
26,000
52,000
22,000
Other Special Charges
-328,000
-233,000
-198,000
-197,000
Write Off
-4,000
38,000
85,000
434,000
Earnings From Equity Interest
51,000
-9,000
113,000
113,000
Net Non Operating Interest Income Expense
-3,583,000
-3,321,000
-2,985,000
-2,412,000
Interest Expense Non Operating
3,634,000
3,384,000
3,014,000
2,439,000
Interest Income Non Operating
51,000
63,000
29,000
27,000
Operating Income
8,577,000
7,938,000
7,103,000
6,424,000
Operating Expense
7,921,000
7,259,000
6,653,000
6,552,000
Other Taxes
1,597,000
1,466,000
1,400,000
1,466,000
Depreciation Amortization Depletion Income Statement
6,324,000
5,793,000
5,253,000
5,086,000
Depreciation And Amortization In Income Statement
6,324,000
5,793,000
5,253,000
5,086,000
Gross Profit
16,498,000
15,197,000
13,756,000
12,976,000
Cost Of Revenue
15,739,000
15,160,000
15,304,000
15,792,000
Total Revenue
32,237,000
30,357,000
29,060,000
28,768,000
Operating Revenue
32,237,000
30,357,000
29,060,000
28,768,000
Balance Sheet
2025
2024
2023
2022
2021
Preferred Shares Number
40,000
40,000
40,000
40,000
Ordinary Shares Number
777,661
776,000
770,712
770,000
Share Issued
777,661
776,000
770,712
770,000
Net Debt
89,591,000
83,959,000
79,287,000
73,294,000
Total Debt
90,869,000
85,230,000
80,457,000
74,579,000
Tangible Book Value
31,859,000
30,144,000
27,846,000
28,057,000
Invested Capital
140,705,000
133,427,000
126,689,000
121,063,000
Working Capital
-9,434,000
-6,407,000
-4,514,000
-5,651,000
Net Tangible Assets
32,832,000
31,117,000
29,808,000
30,019,000
Capital Lease Obligations
1,033,000
957,000
917,000
876,000
Common Stock Equity
50,869,000
49,154,000
47,149,000
47,360,000
Preferred Stock Equity
973,000
973,000
1,962,000
1,962,000
Total Capitalization
131,950,000
126,467,000
121,563,000
115,195,000
Total Equity Gross Minority Interest
53,019,000
51,256,000
50,186,000
51,853,000
Minority Interest
1,177,000
1,129,000
1,075,000
2,531,000
Stockholders Equity
51,842,000
50,127,000
49,111,000
49,322,000
Gains Losses Not Affecting Retained Earnings
198,000
228,000
-6,000
-140,000
Other Equity Adjustments
198,000
228,000
-6,000
-140,000
Retained Earnings
5,056,000
3,431,000
2,235,000
2,637,000
Additional Paid In Capital
45,614,000
45,494,000
44,920,000
44,862,000
Capital Stock
974,000
974,000
1,962,000
1,963,000
Common Stock
1,000
1,000
0
1,000
Preferred Stock
973,000
973,000
1,962,000
1,962,000
Total Liabilities Net Minority Interest
142,717,000
135,087,000
126,707,000
126,233,000
Total Non Current Liabilities Net Minority Interest
121,670,000
115,730,000
109,424,000
107,360,000
Other Non Current Liabilities
1,889,000
1,551,000
1,394,000
1,502,000
Liabilities Heldfor Sale Non Current
170,000
271,000
157,000
1,927,000
Employee Benefits
396,000
434,000
485,000
832,000
Non Current Pension And Other Postretirement Benefit Plans
396,000
434,000
485,000
832,000
Tradeand Other Payables Non Current
969,000
894,000
864,000
849,000
Non Current Deferred Liabilities
12,377,000
11,424,000
10,556,000
9,964,000
Non Current Deferred Taxes Liabilities
12,377,000
11,424,000
10,556,000
9,964,000
Long Term Debt And Capital Lease Obligation
81,141,000
77,297,000
73,369,000
66,749,000
Long Term Capital Lease Obligation
1,033,000
957,000
917,000
876,000
Long Term Debt
80,108,000
76,340,000
72,452,000
65,873,000
Long Term Provisions
9,046,000
9,338,000
8,560,000
11,955,000
Current Liabilities
21,047,000
19,357,000
17,283,000
18,873,000
Other Current Liabilities
3,620,000
3,633,000
3,810,000
4,168,000
Current Debt And Capital Lease Obligation
9,728,000
7,933,000
7,088,000
7,830,000
Current Capital Lease Obligation
332,000
335,000
Current Debt
9,728,000
7,933,000
7,088,000
7,830,000
Other Current Borrowings
4,001,000
3,236,000
Current Notes Payable
3,952,000
3,304,000
Current Provisions
579,000
650,000
596,000
773,000
Payables And Accrued Expenses
7,120,000
7,141,000
5,789,000
6,102,000
Current Accrued Expenses
922,000
854,000
745,000
626,000
Interest Payable
922,000
854,000
745,000
626,000
Payables
6,198,000
6,287,000
5,044,000
5,476,000
Total Tax Payable
975,000
851,000
816,000
722,000
Accounts Payable
5,223,000
5,436,000
4,228,000
4,754,000
Total Assets
195,736,000
186,343,000
176,893,000
178,086,000
Total Non Current Assets
184,123,000
173,393,000
164,124,000
164,864,000
Other Non Current Assets
6,315,000
5,602,000
4,161,000
9,034,000
Investments And Advances
13,219,000
11,787,000
10,635,000
9,092,000
Other Investments
8,637,000
10,401,000
Investmentin Financial Assets
12,889,000
11,434,000
10,143,000
8,637,000
Available For Sale Securities
12,889,000
11,434,000
10,143,000
8,637,000
Long Term Equity Investment
330,000
353,000
492,000
455,000
Investmentsin Associatesat Cost
455,000
457,000
Goodwill And Other Intangible Assets
19,010,000
19,010,000
19,303,000
19,303,000
Goodwill
19,010,000
19,010,000
19,303,000
19,303,000
Net PPE
131,200,000
122,774,000
116,407,000
112,790,000
Accumulated Depreciation
-60,450,000
-57,111,000
-56,038,000
-52,100,000
Gross PPE
191,650,000
179,885,000
172,445,000
164,890,000
Construction In Progress
10,075,000
7,756,000
8,372,000
7,381,000
Other Properties
21,427,000
20,811,000
19,958,000
18,319,000
Current Assets
11,613,000
12,950,000
12,769,000
13,222,000
Other Current Assets
2,460,000
3,434,000
4,079,000
4,458,000
Assets Held For Sale Current
109,000
96,000
14,000
356,000
Inventory
4,569,000
4,496,000
4,292,000
3,584,000
Other Inventories
312,000
309,000
364,000
360,000
Receivables
4,230,000
4,610,000
4,131,000
4,415,000
Accounts Receivable
4,230,000
4,610,000
4,131,000
4,415,000
Allowance For Doubtful Accounts Receivable
-279,000
-207,000
-205,000
-216,000
Gross Accounts Receivable
4,509,000
4,817,000
4,336,000
4,631,000
Cash Cash Equivalents And Short Term Investments
245,000
314,000
253,000
409,000
Cash And Cash Equivalents
245,000
314,000
253,000
409,000
Cash Financial
314,000
Cash Flow
2025
2024
2023
2022
2021
Free Cash Flow
-1,694,000
48,000
-2,726,000
-5,440,000
Repurchase Of Capital Stock
0
-1,000,000
0
0
Repayment Of Debt
-6,895,000
-4,841,000
-5,205,000
-4,683,000
Issuance Of Debt
12,015,000
9,513,000
10,638,000
12,735,000
Issuance Of Capital Stock
16,000
405,000
8,000
9,000
Capital Expenditure
-14,024,000
-12,280,000
-12,604,000
-11,367,000
Interest Paid Supplemental Data
3,590,000
3,284,000
2,883,000
2,361,000
Income Tax Paid Supplemental Data
1,000
End Cash Position
363,000
421,000
357,000
603,000
Beginning Cash Position
421,000
357,000
603,000
520,000
Changes In Cash
-58,000
64,000
-246,000
83,000
Financing Cash Flow
1,950,000
859,000
2,351,000
6,129,000
Cash Flow From Continuing Financing Activities
1,950,000
859,000
2,351,000
6,129,000
Net Other Financing Charges
114,000
-5,000
154,000
1,247,000
Cash Dividends Paid
-3,300,000
-3,213,000
-3,244,000
-3,179,000
Common Stock Dividend Paid
-3,300,000
-3,213,000
-3,244,000
-3,179,000
Net Preferred Stock Issuance
0
-1,000,000
0
0
Preferred Stock Payments
0
-1,000,000
0
0
Net Common Stock Issuance
16,000
405,000
8,000
9,000
Common Stock Issuance
16,000
405,000
8,000
9,000
Net Issuance Payments Of Debt
5,120,000
4,672,000
5,433,000
8,052,000
Net Short Term Debt Issuance
-1,119,000
-927,000
142,000
574,000
Short Term Debt Payments
-1,243,000
-1,484,000
-468,000
-287,000
Short Term Debt Issuance
124,000
557,000
610,000
861,000
Net Long Term Debt Issuance
6,239,000
5,599,000
5,291,000
7,478,000
Long Term Debt Payments
-5,652,000
-3,357,000
-4,737,000
-4,396,000
Long Term Debt Issuance
11,891,000
8,956,000
10,028,000
11,874,000
Investing Cash Flow
-14,338,000
-13,123,000
-12,475,000
-11,973,000
Cash Flow From Continuing Investing Activities
-14,338,000
-13,123,000
-12,475,000
-11,973,000
Net Other Investing Changes
-1,012,000
-960,000
-650,000
-644,000
Net Investment Purchase And Sale
117,000
100,000
63,000
90,000
Sale Of Investment
9,005,000
5,803,000
3,824,000
4,333,000
Purchase Of Investment
-8,888,000
-5,703,000
-3,761,000
-4,243,000
Net Business Purchase And Sale
581,000
17,000
716,000
-52,000
Sale Of Business
581,000
25,000
750,000
6,000
Purchase Of Business
0
-8,000
-34,000
-58,000
Capital Expenditure Reported
-14,024,000
-12,280,000
-12,604,000
-11,367,000
Operating Cash Flow
12,330,000
12,328,000
9,878,000
5,927,000
Cash Flow From Continuing Operating Activities
12,330,000
12,328,000
9,878,000
5,927,000
Change In Working Capital
-616,000
1,151,000
187,000
-3,248,000
Change In Other Working Capital
-103,000
-18,000
19,000
50,000
Change In Other Current Liabilities
587,000
413,000
495,000
257,000
Change In Other Current Assets
-259,000
-285,000
647,000
-3,075,000
Change In Payables And Accrued Expense
-694,000
1,361,000
-674,000
815,000
Change In Payable
-694,000
1,361,000
-674,000
815,000
Change In Account Payable
-821,000
1,329,000
-800,000
805,000
Change In Tax Payable
127,000
32,000
126,000
10,000
Change In Income Tax Payable
127,000
32,000
126,000
10,000
Change In Inventory
-63,000
-212,000
-706,000
-476,000
Change In Receivables
-187,000
-23,000
443,000
-788,000
Other Non Cash Items
-937,000
-878,000
-930,000
-839,000
Provisionand Write Offof Assets
-27,000
-63,000
-130,000
-70,000
Asset Impairment Charge
-4,000
38,000
85,000
434,000
Deferred Tax
1,204,000
987,000
3,000
-200,000
Deferred Income Tax
1,204,000
987,000
3,000
-200,000
Depreciation Amortization Depletion
7,704,000
6,419,000
6,084,000
5,843,000
Depreciation And Amortization
7,704,000
6,419,000
6,084,000
5,843,000
Depreciation
7,704,000
6,419,000
6,084,000
5,843,000
Operating Gains Losses
-92,000
-3,000
1,575,000
1,612,000
Earnings Losses From Equity Investments
-51,000
9,000
-98,000
-114,000
Gain Loss On Sale Of Business
4,000
14,000
1,725,000
1,748,000
Net Income From Continuing Operations
5,071,000
4,614,000
2,874,000
2,455,000
3/5
Graham Score
Speculative Investor
Fails most of Graham's safety criteria. Treat with caution.
Graham's Fair Value
N/A
N/A — requires
positive EPS and positive book value per share. Check the Financials tab for earnings history.
Margin of Safety
—
Market Cap / Net Assets
N/A
Net Assets: $53.0B
Warren's Owner Earnings
$26.7B
Latest fiscal year
Graham's 7 Criteria
Defensive Investor Checklist
3/5 — Speculative Investor
✅
Adequate Size
Graham required companies large enough to withstand economic downturns. This threshold ($1.5B) is inflation-adjusted from Graham's original $100M — virtually all S&P 500 companies pass this today.
$32.2B
vs > $1.5B revenue
❌
Strong Financial Condition
Current assets must be at least twice current liabilities. Note: highly profitable companies (Apple, Domino's) often run negative or low working capital deliberately — they collect cash fast and stretch payables. A failing score here is not always a warning sign.
0.55x
vs Current Ratio > 2.0x
✅
Earnings Stability
Graham required uninterrupted positive earnings. Any loss year is a red flag for defensive investors. Growth companies and cyclicals may show occasional losses during investment cycles or downturns without being fundamentally unsound.
No loss years (4 yrs data)
vs No negative EPS years
❌
Dividend Record
Graham valued dividends as evidence of financial discipline and shareholder alignment. Many excellent modern businesses (Alphabet, Amazon, Berkshire Hathaway) pay no dividend, preferring to reinvest cash at high rates of return. Failing this criterion does not indicate a poor business — it may indicate a high-growth one.
No dividend
vs Uninterrupted dividends
✅
Earnings Growth
EPS grew from $3.33 to $6.31 over 3 years. Graham's 33% threshold was set over a 10-year period. Measured over fewer years (as here), the bar is proportionally lower. Share buybacks can also inflate EPS growth without reflecting underlying business improvement.
+89.5% EPS growth
vs > 33% EPS growth
Graham's 7 Criteria — Explained
What each criterion measures and why it matters.
✅ Adequate Size — $32.2Bvs > $1.5B revenue
Graham required companies large enough to withstand economic downturns. This threshold ($1.5B) is inflation-adjusted from Graham's original $100M — virtually all S&P 500 companies pass this today.
"The minimum size of an enterprise should be not less than $100 million of annual sales."
❌ Strong Financial Condition — 0.55xvs Current Ratio > 2.0x
Current assets must be at least twice current liabilities. Note: highly profitable companies (Apple, Domino's) often run negative or low working capital deliberately — they collect cash fast and stretch payables. A failing score here is not always a warning sign.
"For industrial companies, current assets should be at least twice current liabilities."
✅ Earnings Stability — No loss years (4 yrs data)vs No negative EPS years
Graham required uninterrupted positive earnings. Any loss year is a red flag for defensive investors. Growth companies and cyclicals may show occasional losses during investment cycles or downturns without being fundamentally unsound.
"The company should have shown no deficit in the past ten years."
❌ Dividend Record — No dividendvs Uninterrupted dividends
Graham valued dividends as evidence of financial discipline and shareholder alignment. Many excellent modern businesses (Alphabet, Amazon, Berkshire Hathaway) pay no dividend, preferring to reinvest cash at high rates of return. Failing this criterion does not indicate a poor business — it may indicate a high-growth one.
"Some current dividend payments — for at least the past 20 years."
EPS grew from $3.33 to $6.31 over 3 years. Graham's 33% threshold was set over a 10-year period. Measured over fewer years (as here), the bar is proportionally lower. Share buybacks can also inflate EPS growth without reflecting underlying business improvement.
"A minimum increase of at least one-third in per-share earnings over ten years."
These metrics estimate what DUK is worth based on fundamentals — independent of what the market prices it at.
Graham's Fair Value and NCAV are conservative floors.
EPV assumes zero growth. These are reference points, not price targets.
Net Current Asset Value
N/A
"Buy at two-thirds of net current assets." — Graham
Earnings Power Value
N/A
Per share, no-growth floor. Compare to current price.
ROIC — Return on Invested Capital
3.9%
Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.
Cash Flow Analysis
Metric
2025
2024
2023
2022
2021
Capital Expenditure % of Net Income
282.3%
271.4%
443.6%
445.8%
N/A
Repurchase of Capital Stock
$0M
-$1.0B
$0M
$0M
N/A
Free Cash Flow
-$1.7B▼
$48M▲
-$2.7B▲
-$5.4B•
N/A•
Warren's Owner Earnings
$26.7B
$23.2B
$21.5B
$19.8B
N/A
Peers & Industry
No auto-detected peers for this industry. You can manually compare DUK against any stock using the Compare tool.
"The management of a business is its most important single factor — more important than market position, patents, or financial structure."
— Benjamin Graham
No management data available.
Risk Analysis
DUK (DUK) fundamental analysis — Overall grade D based on profitability, financial health, valuation and cash flow. Graham's
Fair Value: N/A. Gross profit margin: 51.2%. Operating margin: 26.6%. Net margin: 15.4%. Analysis powered by 360investing — free fundamental stock analysis based on Benjamin Graham and Warren Buffett
principles.
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and may be delayed, inaccurate, or incomplete. Past performance is not indicative of future results. Analysis, scores, and valuations are algorithmic and do not represent professional investment recommendations. Always conduct your own due
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