Wednesday 4 November 2026 Export WTRG’s income statement to Excel — free account

Essential Utilities Inc.

WTRG Utilities Utilities Regulated Water

Essential Utilities Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 18.6% from fiscal 2024.

Revenue: +6.56%
EPS: +12.1%
Free cash flow: −1.23%
Total debt: +1.34%

Quarter to September 2026, against a year earlier

Dividend growth 25 yrs

45.07 1.03 +2.34%

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Market cap: $12.5B
P/E: 22.6×
Fwd P/E: 19.6×
Dividend yield: 3.88%
F-score: 5/9
Altman Z: 0.95
Beneish M: −2.29
Dividend safety: 42/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Essential Utilities Inc. (WTRG) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Regulated Water	1,327	53.61%
Regulated Natural Gas	1,115	45.04%
Other And Eliminations	33	1.35%
Gross margin		83.68%
Operating margin		37.22%
Pre-tax margin		25.05%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Regulated Natural Gas	1,124 45.43%	832 39.89%	862 41.95%	1,143 49.96%	859 45.76%	506 34.62%	—	—
Regulated Water	1,092 44.12%	1,008 48.30%	949 46.20%	903 39.46%	833 44.34%	805 55.01%	767 86.25%	731 87.27%
Wastewater	223 9.00%	199 9.56%	187 9.12%	165 7.23%	133 7.06%	121 8.26%	105 11.82%	94 11.24%
Other	11 0.44%	11 0.54%	15 0.72%	11 0.50%	13 0.71%	13 0.88%	14 1.56%	9 1.12%
Other, not broken out	25 1.00%	36 1.71%	41 2.00%	65 2.85%	40 2.13%	18 1.23%	—	—
Revenue	2,475	2,086	2,054	2,288	1,878	1,463	890	838

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Regulated Water	1,327 53.61%	1,222 58.57%	1,153 56.16%	1,083 47.33%	980 52.19%	—	—	—	—	—	—
Regulated Natural Gas	1,115 45.04%	840 40.29%	861 41.90%	1,140 49.81%	860 45.78%	—	—	—	—	—	—
Other And Eliminations	33 1.35%	24 1.14%	40 1.94%	65 2.86%	38 2.03%	24 3.06%	17 2.28%	18 2.36%	12 1.82%	11 1.75%	11 1.88%
Regulated Operation	—	—	—	—	—	756 96.94%	745 97.72%	733 97.64%	675 99.16%	649 99.23%	622 101.95%
Non Regulated Businesses	—	—	—	—	—	24 3.10%	18 2.32%	18 2.43%	—	—	—
Eliminations	—	—	—	—	—	(24) (3.10%)	(18) (2.32%)	(18) (2.43%)	(7) (0.97%)	(6) (0.97%)	(23) (3.84%)
Total Reportable Segments	2,441	2,062	2,014	2,223	—	—	—	—	—	—	—
Revenue	2,475	2,086	2,054	2,288	1,878	780	762	751	681	654	610

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Other And Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Regulated Operation	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Equivalent retail customers or equivalent dwelling units	Q2 FY2026	200.0K	200.0K	0.00%
People served	Q3 FY2026	5.5M	—	—
Potential water and wastewater municipal acquisition customers	Q3 FY2026	400.0K	400.0K	0.00%
Signed pending acquisitions backlog	Q2 FY2026	$282.0M	$301.0M	−6.31%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q3 FY2024
Equivalent retail customers or equivalent dwelling units	‡	‡	‡	‡	‡	‡	‡	‡
People served	‡	‡	‡	‡	‡	‡	‡	‡
Potential water and wastewater municipal acquisition customers	‡	‡	‡	‡	‡	‡	‡	‡
Signed pending acquisitions backlog	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.