Chesapeake Utilities Corporation (CPK) vs Spire Inc. (SR)

Chesapeake Utilities Corporation and Spire Inc. are both Utilities Regulated Gas companies. Spire Inc. is the larger, with a market value of $4.5B against $3.1B — 1.5× the size. Spire Inc. trades at the lower P/E: 8.6× against 20.4×. Spire Inc. grew revenue faster over the last twelve months: 17.0% against 14.6%. Spire Inc. has the higher net margin (19.8% vs 15.1%) and the lower return on invested capital (3.76% vs 5.04%). Both pay a dividend; Spire Inc. yields more (5.17% vs 2.25%). Across the 22 metrics below, Spire Inc. leads on 15 and Chesapeake Utilities Corporation on 7.

Valuation

Metric CPK SR Utilities Regulated Gas median
P/E 20.44 8.59 15.65
P/S 3.12 1.70 2.04
P/B 1.85 1.27 1.50
Price to free cash flow n/m n/m —
EV/EBITDA 12.62 11.49 11.49
EV/Sales 4.82 3.93 3.54
Earnings yield 4.89% 11.64% 6.39%
Free cash flow yield (5.81%) (4.88%) (5.71%)

Profitability

Metric CPK SR Utilities Regulated Gas median
Gross margin 67.41% 65.44% 63.14%
Operating margin 27.29% 21.47% 21.47%
Net margin 15.12% 19.81% 13.00%
Free cash flow margin (18.13%) (8.30%) (13.27%)
Return on equity 9.47% 15.57% 9.47%
Return on assets 3.80% 4.17% 3.80%
Return on invested capital 5.04% 3.76% 4.29%

Growth

Metric CPK SR Utilities Regulated Gas median
Revenue growth (TTM) 14.63% 16.97% 6.36%
EPS growth (last fiscal year) 13.50% 4.30% —
Revenue growth, 5-year CAGR 13.76% 5.94% 6.36%
Net income growth, 5-year CAGR 14.43% 28.34% 8.10%

Health

Metric CPK SR Utilities Regulated Gas median
Debt to equity 1.01 1.67 1.22
Current ratio 0.32 0.37 0.78
Net debt to EBITDA 4.45 4.68 4.68

Dividend

Metric CPK SR Utilities Regulated Gas median
Dividend yield 2.25% 5.17% 4.31%
Payout ratio 0.44 0.66 0.62

Size

Metric CPK SR Utilities Regulated Gas median
Market cap 3.09b 4.54b 4.52b

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