Utilities
Eversource Energy (ES): Heavy infrastructure reinvestment with cash conversion pressure
Eversource Energy (ES): Capital-intensive grid investment with modest earnings recovery
Exelon Corporation (EXC): Capital-intensive grid platform with stable cash generation
The Southern Company (SO): Margin expansion with elevated operating cash conversion
Entergy Corporation (ETR): Heavy capex buildout driving weak free cash conversion
NextEra Energy, Inc. (NEE): Rising cash generation alongside pressured return profile
