Forensic Analysis · Utilities · as of Aug 11, 2026
Dominion Energy, Inc (D)
A forensic read on Dominion Energy, Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
0.9
Distress distance
Clean
Earnings quality
4
Forensic signals
23.1
P / E (ttm)
10.3%
ROE
$59.0B
Market cap
4.00%
Dividend yield
14.2%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Dominion Energy, Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 0.9, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
3.5%
FY2025
Return on invested capital.Return on invested capital is 3.5% in the latest fiscal year and rising from 1% — well below its ~6% cost of capital, so reinvested dollars may be destroying value, not building it.
+1.2%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +4% over the last 3 years to FY2025 (+1.2%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.2% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~4%.
+13.6%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +13.6% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +17% against revenue +14% and PP&E up +15% against revenue +14%. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 3% of net operating assets, diverging from the balance-sheet accrual read.
-27%
FY2020→FY2021
Dividend — cut.The payout was CUT ~27% in FY2021 (from FY2020) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.
Key fundamentals
Latest Revenue$16.51B
Revenue Growth YoY+14.2%
Revenue CAGR (3yr)+5.8%
Net Margin18.2%
Return on Equity10.3%
Debt / Equity1.60x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Dominion Energy, Inc's actual 10-K/10-Q/8-K filings?