The Largest Utilities Companies by Market Cap in May 2026

NextEra Energy, Iberdrola, and Enel SpA lead the utilities sector.

By Lyle Daly – Updated May 8, 2026 at 2:53 PM EST | Fact-checked by Frank Bass

Key Points

NextEra Energy is the world's largest utility by market cap at $202 billion.
Iberdrola leads in European utility market cap and renewable energy contracts.
Southern Company has raised its dividend for over 20 years, aiding investors.

NextEra Energy (NEE -0.24%) is the most valuable utility company in the world, far ahead of Iberdrola (IBDSF +0.39%) and Enel SpA (ENLAY -2.00%). Electrical utility companies dominate the top of the market, and there's a mix of U.S. and international companies represented.

Loading paragraph...

Utility towers with lines going from one to the next. — Image source: Getty Images.

Loading paragraph...

Ticker Information Table
Name and ticker	Market cap	Current price	Industry
NextEra Energy (NYSE:NEE)	$194.1 billion	$93.10	Electric Utilities
Iberdrola (OTC:IBDSF)	$151.3 billion	$23.01	Electric Utilities
Enel SpA (OTC:ENLAY)	$113.4 billion	$11.30	Electric Utilities
Constellation Energy (NASDAQ:CEG)	$110.0 billion	$303.95	Electric Utilities
Southern Company (NYSE:SO)	$103.5 billion	$91.80	Electric Utilities
Duke Energy (NYSE:DUK)	$96.8 billion	$124.17	Electric Utilities
National Grid Plc (NYSE:NGG)	$86.5 billion	$86.89	Multi-Utilities
Engie (OTC:ENGQF)	$78.1 billion	$30.77	Multi-Utilities
American Electric Power (NASDAQ:AEP)	$70.8 billion	$130.16	Electric Utilities

Data as of May 10, 2026. Showing 9 of 9 tickers.

Loading ticker_table...

Loading paragraph...

NYSE: NEE

NextEra Energy

Today's Change

(-0.24%) $-0.22

Current Price

$93.10

Key Data Points

Market Cap

$194B

Day's Range

$92.58 - $94.37

52wk Range

$63.88 - $98.75

Volume

6.2M

Avg Vol

9.4M

Gross Margin

36.10%

Dividend Yield

2.49%

Loading company_card...

Market cap: $202.17 billion (as of May 1)
Revenue (TTM): $27.9 billion
Gross profit (TTM): $17.1 billion
Five-year annualized return: 4.58%
Year founded: 1925 (Florida Power & Light), 1984 (FPL Group)

TTM = trailing 12 months.

NextEra Energy is a leading utility and renewable energy company. It has multiple subsidiaries, the largest of which is Florida Power & Light, the largest electrical utility company in the U.S.

It supplies power to approximately 12 million people across Florida. Another subsidiary, NextEra Energy Resources, is one of the country's largest generators of renewable energy, including solar and wind energy.

2. Iberdrola

Loading paragraph...

OTC: IBDSF

Iberdrola

Today's Change

(0.39%) $0.09

Current Price

$23.01

Key Data Points

Market Cap

$151B

Day's Range

$22.98 - $23.06

52wk Range

$16.80 - $24.50

Volume

30K

Avg Vol

30K

Gross Margin

24.34%

Dividend Yield

3.37%

Loading company_card...

Market cap: $159.82 billion (as of May 1)
Revenue (TTM): $51.1 billion*
Gross profit (TTM): $27.6 billion*
Five-year annualized return: 11.69%
Year founded: 1907 (Hidroelectrica Espanola), 1944 (Iberduero), 1992 (merger of Hidroelectrica Espanola and Iberduero)

*Converted from euros.

Iberdrola is a Spanish electrical utility company with subsidiaries worldwide, including in the U.S., the U.K., and Brazil. It serves more than 36 million customers worldwide and is the leading European electrical utilities company by market cap.

This company first committed to using renewable energy in 2001. As of early 2026, it has led the European market for three consecutive years in long-term renewable energy purchase agreements.

3. Enel SpA

Loading paragraph...

OTC: ENLAY

Enel SpA

Today's Change

(-2.00%) $-0.23

Current Price

$11.30

Key Data Points

Market Cap

$113B

Day's Range

$11.25 - $11.37

52wk Range

$8.34 - $12.13

Volume

365K

Avg Vol

526K

Gross Margin

29.63%

Dividend Yield

5.02%

Loading company_card...

Market cap: $114.51 billion (as of May 1)
Revenue (TTM): $79.2 billion*
Gross profit (TTM): $37.1 billion*
Five-year annualized return: 3.13%
Year founded: 1962

*Converted from euros.

Enel SpA is an Italian energy company that distributes electricity and natural gas. It operates in 43 countries, has more than 1,000 subsidiaries, and connects more than 70 million users to its grids.

This company produces electricity from several renewable and non-renewable energy sources. These include solar, wind, hydroelectric, geothermal, thermal, and nuclear energy.

Loading paragraph...

NASDAQ: CEG

Constellation Energy

Today's Change

(-2.35%) $-7.33

Current Price

$303.95

Key Data Points

Market Cap

$110B

Day's Range

$301.81 - $316.50

52wk Range

$243.30 - $412.70

Volume

164K

Avg Vol

3.2M

Gross Margin

17.35%

Dividend Yield

0.52%

Loading company_card...

Market cap: $111.52 billion (as of May 1)
Revenue (TTM): $25.5 billion
Gross profit (TTM): $4.7 billion
Year founded: 2022

Constellation Energy (CEG -2.35%) is an electricity and natural gas company with facilities for solar, wind, nuclear, and hydropower generation. Based in Baltimore, Md., it serves residential, business, and public sector customers.

In June 2025, Meta Platforms (META -1.18%) signed a 20-year nuclear power agreement with Constellation Energy. Starting in 2027, Meta will purchase power from a Constellation Energy center in Illinois that was previously at risk of closure. Microsoft (MSFT -1.33%) signed its own 20-year power agreement with Constellation in 2024.

5. Southern Company

Loading paragraph...

NYSE: SO

Southern Company

Today's Change

(-0.68%) $-0.63

Current Price

$91.80

Key Data Points

Market Cap

$103B

Day's Range

$91.61 - $93.00

52wk Range

$83.09 - $100.83

Volume

4.5M

Avg Vol

5.8M

Gross Margin

29.31%

Dividend Yield

3.22%

Loading company_card...

Market cap: $109.02 billion (as of May 1)
Revenue (TTM): $30.2 billion
Gross profit (TTM): $14.5 billion
Five-year annualized return: 7.89%
Year founded: 1945

Southern Company (SO -0.68%) is a gas and electric company that serves 9 million customers across the southern U.S. Along with its subsidiaries, it owns or operates 55 facilities in 15 states.

Utilities companies often pay out generous dividends, and Southern Company is no exception. It has a high dividend yield and has raised its dividend for more than 20 consecutive years.

6. Duke Energy

Loading paragraph...

NYSE: DUK

Duke Energy

Today's Change

(-0.56%) $-0.70

Current Price

$124.17

Key Data Points

Market Cap

$97B

Day's Range

$123.42 - $125.69

52wk Range

$111.22 - $134.49

Volume

2.6M

Avg Vol

4.2M

Gross Margin

30.76%

Dividend Yield

3.41%

Loading company_card...

Loading paragraph...

Market cap: $90.08 billion (as of May 1)
Revenue (TTM): $12.8 billion*
Gross profit (TTM): $7.9 billion*
Five-year annualized return: 2.86%
Year founded: 2002

*Converted from Chinese yuan.

China Yangtze Power, headquartered in Beijing, is a largely state-owned utility company specializing in hydroelectric power generation. It owns all the power-generation assets of six hydropower stations along the Yangtze River and manages the 22.5-gigawatt Three Gorges Dam, the world's largest hydropower plant.

Loading paragraph...

8. National Grid

Loading paragraph...

NYSE: NGG

National Grid Plc

Today's Change

(1.14%) $0.98

Current Price

$86.89

Key Data Points

Market Cap

$86B

Day's Range

$86.56 - $87.28

52wk Range

$67.08 - $94.64

Volume

Avg Vol

1.2M

Gross Margin

29.42%

Dividend Yield

3.59%

Loading company_card...

Market cap: $88.05 billion (as of May 1)
Revenue (TTM): $23.8 billion*
Gross profit (TTM): $19.4 billion*
Five-year annualized return: 7.04%
Year founded: 1990

*Converted from British pounds.

National Grid (NGG +1.14%) is a London-based utility that transmits and distributes electricity and gas. It primarily operates in the U.K., where it distributes electricity to 8 million customers across a 21,351-square-mile service area.

This company also has a presence in the U.S. It owns and operates electricity transmission and distribution networks, as well as gas distribution networks, across the northeastern U.S.

9. Engie

Loading paragraph...

OTC: ENGQF

Engie

Today's Change

(-1.85%) $-0.58

Current Price

$30.77

Key Data Points

Market Cap

$78B

Day's Range

$30.77 - $32.19

52wk Range

$19.50 - $35.36

Volume

4.4K

Avg Vol

5.9K

Gross Margin

12.28%

Dividend Yield

3.92%

Loading company_card...

Market cap: $85.35 billion (as of May 1)
Revenue (TTM): $84.5 billion*
Gross profit (TTM): $26.9 billion*
Five-year annualized return: 17.62%
Year founded: 1858 (Suez Company), 1946 (Gaz de France), 2008 (merger of Gaz de France and Suez Company)

Converted from euros.

Engie (ENGQF -1.85%) is one of the largest French electrical utility companies. It has several business segments, including renewable energy, thermal energy, nuclear power, electricity generation and distribution, and natural gas.

10. American Electric Power Company

Loading paragraph...

NASDAQ: AEP

American Electric Power

Today's Change

(-0.50%) $-0.65

Current Price

$130.16

Key Data Points

Market Cap

$71B

Day's Range

$130.10 - $132.08

52wk Range

$97.46 - $139.44

Volume

2.7M

Avg Vol

3.3M

Gross Margin

31.77%

Dividend Yield

3.62%

Loading company_card...

Market cap: $74.42 billion (as of May 1)
Revenue (TTM): $21.9 billion
Gross profit (TTM): $13.3 billion
Five-year annualized return: 9.07%
Year founded: 1906

American Electric Power Company (AEP -0.50%) is an electrical utility company serving approximately 5.6 million customers across 11 states. It boasts the largest electricity transmission network in the country, at 40,000 miles.

Like other major utility companies, American Electric Power Company is prioritizing clean energy. It's investing $8.6 billion in renewable energy through 2027 and aiming to grow its renewable generation portfolio to 50% by 2030.

Loading paragraph...

The Largest Utilities Companies by Market Cap in May 2026

NextEra Energy, Iberdrola, and Enel SpA lead the utilities sector.

Key Points

Key Data Points

2. Iberdrola

Key Data Points

3. Enel SpA

Key Data Points

Key Data Points

5. Southern Company

Key Data Points

6. Duke Energy

Key Data Points

8. National Grid

Key Data Points

9. Engie

Key Data Points

10. American Electric Power Company

Key Data Points

Related investing topics

Best Climate Change Stocks for 2026 and How to Invest

Best Energy Stocks for 2026 and How to Invest

Which States Produce the Most Renewable Energy?

Survey: Investors Embrace Renewables, Not Ready to Let Go of Fossil Fuels

About the Author

Read Next

Stocks Mentioned

Premium Investing Services

Largest companies by market cap in the utilities sector

1. NextEra Energy

2. Iberdrola

3. Enel SpA

4. Constellation Energy

8. National Grid

Renewables are driving utility market cap growth

Related investing topics

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

5. Southern Company

6. Duke Energy

7. China Yangtze Power

9. Engie

10. American Electric Power Company

Key Data Points