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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. In the quarter to June 2026, revenue grew 3.10%, EPS fell 2.63%, free cash flow fell 1.23% and total debt rose 9.41%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years.

38.98 0.26 +0.67%

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Market cap: $11.0B
P/E: 19.9×
Fwd P/E: 16.9×
Dividend yield: 3.56%
F-score: 5/9
Altman Z: 0.95
Beneish M: −2.29
Dividend safety: 42/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.11

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	1	—	—

Insider Ownership 0.19%

Capital & Financial Ratios $m

Market Cap 10,990.00

Revenue 2,568.70

Net Income 554.87

Free Cash Flow (509.54)

Net Debt 8,495.88

Current Ratio 0.78

Debt/Equity 1.21

P/E ratio 19.90

Fwd P/E 16.90

P/S ratio 4.31

P/B ratio 1.58

Past 5Y EPS Growth 14.46%

This Y EPS Growth 1.49%

Next Y EPS Growth 5.60%

Next Y revenue growth 0.10%

Next 5Y EPS Growth 4.23%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 23.78%

10-year low 10-year high

P/S against its own 10 years 5.61%

10-year low 10-year high

P/B against its own 10 years 6.57%

10-year low 10-year high

EV/Sales against its own 10 years 7.50%

10-year low 10-year high

Dividends

Payout Ratio 0.71

Annual Dividend Rate 1.39

Annual Dividend Yield 3.56%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.41	0.34 0.34 0.36
2025	1.34	0.33 0.33 0.34 0.34
2024	1.27	0.31 0.31 0.33 0.33
2023	1.19	0.29 0.29 0.31 0.31
2022	1.11	0.27 0.27 0.29 0.29
2021	1.04	0.25 0.25 0.27 0.27
2020	0.97	0.23 0.23 0.25 0.25
2019	0.91	0.22 0.22 0.23 0.23
2018	0.85	0.20 0.20 0.22 0.22
2017	0.79	0.19 0.19 0.20 0.20
2016	0.74	0.18 0.18 0.19 0.19

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	5	9	35	9
Receivables	144	167	217	208
Inventory	113	94	112	96
Other	230	175	187	120
	492	486	610	465

	2023	2024	2025	Q'26
Payables	221	259	276	199
ST’ Debt	228	329	172	83
Other	45	49	37	200
	798	975	764	599

Compound Annual Growth %

	10y	5y	3y
Sales	11.76%	11.09%	2.65%
Cash Flow	10.54%	14.74%	18.95%
Earnings	11.81%	16.69%	9.83%
Book Value	14.79%	7.92%	8.44%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	862	531	—	—	—
’25	784	515	477	699	2,475
’24	612	434	435	604	2,086
’23	726	437	411	479	2,054
’22	699	449	435	705	2,288
’21	584	397	362	536	1,878
’20	256	384	349	474	1,463

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	265	324	—	—	—
’25	300	272	233	206	1,010
’24	241	186	196	148	770
’23	402	220	183	129	934
’22	311	106	103	81	600
’21	255	157	149	83	645
’20	96	150	175	87	508

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(22)	(73)	—	—	—
’25	12	(72)	(174)	(240)	(475)
’24	154	(110)	(188)	(249)	(393)
’23	158	(109)	(163)	(154)	(269)
’22	77	(135)	(246)	(274)	(578)
’21	78	(68)	(158)	(261)	(410)
’20	(3,469)	(46)	(85)	(228)	(3,827)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.79	0.37	—	—	—
’25	1.03	0.38	0.33	0.47	2.20
’24	0.97	0.28	0.25	0.67	2.17
’23	0.72	0.34	0.30	0.50	1.86
’22	0.76	0.31	0.26	0.44	1.77
’21	0.72	0.32	0.19	0.44	1.67
’20	0.20	0.29	0.22	0.40	1.12

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	28.03	29.41	32.09	32.70	30.40	41.11	38.50	32.07	33.57	33.18	Analyst estimates 2026–2028 Powerpack
	High	35.83	39.55	39.38	47.33	54.52	53.93	53.66	49.28	41.78	42.37
People
People	Employees	1,551	1,530	1,570	1,583	3,180	3,211	3,187	3,258	3,291	3,303
	Revenue/emp, $m	0.53	0.53	0.53	0.56	0.46	0.58	0.72	0.63	0.63	0.75
Income, $m
Income, $m	Revenue	820	810	838	890	1,463	1,878	2,288	2,054	2,086	2,475
	Gross margin, %	100.00	100.00	100.00	100.00	88.67	81.88	73.69	82.85	86.72	83.68
	EBT	255	257	178	212	265	422	451	432	573	620
	EBT margin, %	31.12	31.70	21.28	23.78	18.12	22.47	19.71	21.02	27.49	25.05
	Net income	234	240	192	225	285	432	465	498	595	616
	Depreciation	133	137	147	156	257	298	321	344	370	417
Per share, $
Per share, $	Revenue	4.62	4.56	4.71	4.13	5.86	7.29	8.72	7.69	7.62	8.84
	Earnings	1.32	1.35	1.08	1.04	1.14	1.68	1.77	1.86	2.17	2.20
	Cash flow	2.23	2.15	2.07	1.57	2.03	2.50	2.29	3.49	2.81	3.61
	Capex	(2.17)	(2.72)	(3.60)	(2.82)	(17.36)	(4.10)	(4.49)	(4.50)	(4.25)	(5.30)
	Free cash flow	0.06	(0.57)	(1.53)	(1.25)	(15.32)	(1.59)	(2.21)	(1.01)	(1.43)	(1.70)
	Book value	10.44	11.02	11.29	18.00	18.75	20.13	20.51	22.07	22.63	24.49
	Shares, m	177	178	178	216	250	257	262	267	274	280
Valuation, ×
Valuation, ×	P/E	22.71	28.63	31.66	46.94	41.85	31.77	27.21	20.22	16.74	17.36
	P/S	6.48	8.48	7.26	11.37	8.08	7.36	5.52	4.92	4.77	4.34
	P/B	2.87	3.51	3.03	2.61	2.52	2.67	2.35	1.71	1.60	1.57
	EV/Sales	8.79	11.10	10.31	12.73	11.95	10.54	8.49	8.35	8.45	7.67
	EV/FCF	627.13	(88.71)	(31.73)	(42.16)	(4.57)	(48.23)	(33.58)	(63.75)	(44.92)	(39.98)
Cash, $m
Cash, $m	Operating cash flow	396	381	369	339	508	645	600	934	770	1,010
	Capex	(385)	(483)	(641)	(607)	(4,335)	(1,055)	(1,179)	(1,203)	(1,163)	(1,485)
	Free cash flow	11	(101)	(272)	(269)	(3,827)	(410)	(578)	(269)	(393)	(475)
Balance, $m
Balance, $m	Working capital	(173)	(153)	(252)	1,692	(224)	(237)	(364)	(306)	(489)	(154)
	Total debt	1,895	2,125	2,558	3,074	5,670	5,977	6,799	7,054	7,698	8,282
	Net debt	1,891	2,121	2,555	1,205	5,665	5,966	6,788	7,049	7,689	8,247
	Shareholders’ equity	1,850	1,958	2,009	3,881	4,684	5,184	5,377	5,896	6,199	6,857
Returns, %
Returns, %	ROA	3.94	3.84	2.89	2.75	2.47	3.04	3.06	3.06	3.41	3.29
	ROIC	5.57	5.12	4.43	4.18	2.63	3.38	3.40	3.34	3.41	3.81
	ROE	13.10	12.59	9.68	7.62	6.65	8.75	8.81	8.84	9.84	9.44

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
AWK American Water Works Company, Inc.	$25.5B	22.3×	20.5×	+6.19% (above 0%: growing)	+8.78% (above 0%: growing)	+40.28% (above 0%: growing)	100.00%	40.00%	Compare
SBS Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp	$23.1B	17.1×	15.6×	+46.43% (above 0%: growing)	+14.45% (above 0%: growing)	−154.90% (below 0%: shrinking)	37.66%	31.04%	Compare
WTRG Essential Utilities Inc.	$11.0B	19.9×	16.9×	+3.10% (above 0%: growing)	−2.63% (below 0%: shrinking)	−1.23% (below 0%: shrinking)	91.30%	36.41%
AWR American States Water Company	$3.2B	22.5×	21.1×	+11.18% (above 0%: growing)	+26.44% (above 0%: growing)	−126.32% (below 0%: shrinking)	79.44%	35.29%	Compare
CWT California Water Service Group	$2.8B	20.6×	18.7×	+16.47% (above 0%: growing)	+32.39% (above 0%: growing)	−18.32% (below 0%: shrinking)	70.24%	22.97%	Compare
HTO H2O America	$2.4B	20.5×	20.4×	+6.16% (above 0%: growing)	−9.86% (below 0%: shrinking)	+14.08% (above 0%: growing)	59.39%	20.31%	Compare
MSEX Middlesex Water Company	$1.0B	20.6×	21.2×	+14.26% (above 0%: growing)	+31.67% (above 0%: growing)	−22.41% (below 0%: shrinking)	100.00%	32.35%	Compare
YORW The York Water Company	$502.6M	19.3×	18.9×	+22.48% (above 0%: growing)	+40.00% (above 0%: growing)	+111.16% (above 0%: growing)	100.00%	41.71%	Compare
CWCO Consolidated Water Co. Ltd.	$485.6M	29.7×	31.8×	−2.15% (below 0%: shrinking)	−21.88% (below 0%: shrinking)	+39.37% (above 0%: growing)	33.35%	11.39%	Compare
Median of peers	$2.6B	20.6×	20.5×	+12.72%	+20.45%	−2.12%	74.84%	31.70%

All 13 Utilities Regulated Water stocks →

Essential Utilities Inc. (WTRG) key facts

Strength: Essential Utilities Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 18.6% from fiscal 2024.
Strength: Net income was $616.4 million, or $2.20 per share (basic), a net margin of 24.9%.
Essential Utilities Inc. (WTRG) is an Utilities Regulated Water company in the Utilities sector, listed on the New York Stock Exchange.
As of October 9, 2026, WTRG traded at $38.98, a market capitalization of $11.0 billion.
At that price the stock trades at 19.9× trailing-twelve-month earnings and 4.3× sales; its P/E is higher than 24% of its own readings over the past ten years.
Essential Utilities Inc. pays an annual dividend of $1.39 per share, a yield of 3.56%, with a payout ratio of 70.8%.
Return on equity was 9.44% and debt-to-equity 1.21.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 0.95 (distress zone) for fiscal 2025.