Dominion Energy (D) FY2024 10-K Annual Report
Dominion Energy (D) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 27, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Dominion Energy FY2024 10-K Analysis
Business Overview
- • Core business model: Integrated energy company focused on electric and gas utility services primarily through Virginia Electric and Power Company
- • New emphasis in 2025: Execution of multiple Purchase and Sale Agreements with Enbridge subsidiaries and establishment of OSW Project LLC for offshore wind developments
- • Strategic shift: Adoption of new and amended credit agreements incorporating sustainability structuring agents, signaling stronger focus on sustainable financing
- • Notable metric: Increase in Virginia Power audit fees to $3.22 million in 2024 from $2.53 million in 2023 reflecting expanded auditing scope or complexity
- • Unusual fact: Filing includes extensive series of supplemental indentures and amendments through 2024, indicating active refinancings and debt instrument updates
Management Discussion & Analysis
- • Share repurchases 66,954 shares at average price $58.26, totaling about $3.9 million in Q4 FY2025
- • Remaining authorized repurchase capacity $0.92 billion under $1.0 billion board-approved program since Nov 2020
- • No public trading market for Virginia Power common stock, fully owned by Dominion Energy
- • Virginia Power may pay cash dividends in 2025 with no mandatory or restricted requirements
- • No revenue, profitability, or forward-looking guidance disclosed in this section
Risk Factors
- • Foreign currency exchange rate risk on CVOW Commercial Project contracts with €1.1 billion notional hedged by foreign currency swaps as of Dec 31, 2024
- • Commodity price risk causing $18 million fair value decrease in Dominion Energy’s commodity derivatives with 10% commodity price increase as of Dec 31, 2024
- • Interest rate risk: $12 million earnings decrease for Dominion Energy from 10% interest rate hike on variable rate debt outstanding as of Dec 31, 2024
- • Investment price risk on nuclear decommissioning and rabbi trust funds with $1.1 billion net investment gains recognized in 2024
- • Concentration risk in interest rate derivatives: $10.8 billion notional outstanding for Dominion Energy as of Dec 31, 2024
Dominion Energy FY2024 Key Financial MetricsXBRL
Revenue
$14.2B
▲ +5.2% YoY
Net Income
$2.1B
▲ +6.5% YoY
Operating Margin
22.9%
▼ -242bp YoY
Net Margin
15.0%
▲ +19bp YoY
ROE
7.8%
▲ +55bp YoY
Total Assets
$102.4B
▼ -6.1% YoY
EPS (Diluted)
$2.44
▲ +6.6% YoY
Operating Cash Flow
$5.0B
▼ -23.6% YoY
Source: XBRL data from Dominion Energy FY2024 10-K filing on SEC EDGAR. All figures in USD.
Other Dominion Energy Annual Reports
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