Essential Utilities Inc. (WTRG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$0.39	$0.37	-5.1%	—	—	—
Q4 26	$0.87	$0.83	-4.6%	—	—	—
Q3 26	$0.4	$0.47	+17.5%	—	—	—
Q2 26	$0.3	$0.29	-3.3%	—	—	—
Q1 26	$0.3	$0.38	+26.7%	—	—	—
Q4 25	$0.8	$1.03	+28.7%	—	—	—
Q3 25	$0.67	$0.47	-29.9%	—	—	—
Q2 25	$0.24	$0.25	+4.2%	—	—	—
Q1 25	$0.33	$0.28	-15.2%	—	—	—
Q4 24	$0.76	$0.97	+27.6%	—	—	—
Q3 24	$0.51	$0.5	-2.0%	—	—	—
Q2 24	$0.29	$0.3	+3.4%	—	—	—
Q1 24	$0.34	$0.34	0.0%	—	—	—
Q4 23	$0.71	$0.72	+1.4%	—	—	—
Q3 23	$0.45	$0.44	-2.2%	—	—	—
Q2 23	$0.22	$0.26	+18.2%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.2	—	—	$2.5B	—
FY24	—	$2.17	—	—	$2.1B	—
FY23	—	$1.86	—	—	$2.1B	—
FY22	—	$1.77	—	—	$2.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$819.9M	$809.5M	$838.1M	$889.7M	$1.5B	$1.9B	$2.3B	$2.1B	$2.1B	$2.5B
YoY change	+0.7%	-1.26%	+3.53%	+6.16%	+64.4%	+28.4%	+21.8%	-10.2%	+1.57%	+18.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	819.9M	809.5M	838.1M	889.7M	1.5B	1.9B	2.3B	2.1B	2.1B	2.5B
Cost of revenue	297.2M	282.3M	308.5M	333.1M	694.4M	890.8M	1.2B	927.8M	864.3M	1B
Gross profit	522.7M	527.3M	529.6M	556.6M	768.3M	987.3M	1.1B	1.1B	1.2B	1.4B
Gross margin	63.8%	65.1%	63.2%	62.6%	52.5%	52.6%	46.9%	54.8%	58.6%	57.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—
Operating expenses	-8.8M	-15.2M	-13M	-16.2M	-12.7M	-20.8M	—	—	—	—
Operating income	333.3M	333.9M	323.2M	340.2M	434.7M	602.7M	661.2M	692.1M	757.7M	921M
Operating margin	40.7%	41.2%	38.6%	38.2%	29.7%	32.1%	28.9%	33.7%	36.3%	37.2%
Non-operating income, net	2.5M	11.1M	-46M	-28.7M	13.4M	24.6M	24.2M	19.6M	115M	26.2M
Pretax income	255.2M	256.7M	178.3M	211.5M	265M	422M	450.9M	431.8M	573.5M	619.8M
Income tax	21M	16.9M	-13.7M	-13M	-19.9M	-9.6M	-14.3M	-66.4M	-21.8M	3.4M
Net income	234.2M	239.7M	192M	224.5M	284.8M	431.6M	465.2M	498.2M	595.3M	616.4M
Net margin	28.6%	29.6%	22.9%	25.2%	19.5%	23%	20.3%	24.3%	28.5%	24.9%
EBITDA	459.6M	466.2M	470.1M	518.6M	697.1M	905.9M	985.5M	1B	1.1B	1.3B
EPS	1.32	1.35	1.08	1.04	1.14	1.68	1.77	1.86	2.17	2.2
Diluted EPS	1.32	1.35	1.08	1.04	1.12	1.67	1.77	1.86	2.17	2.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	411.3M	479.4M	612.1M	434.4M	435.3M	604.4M	783.6M	514.9M	477M	699.1M	861.8M	530.9M
Cost of revenue	163.6M	194.5M	266.6M	176.2M	163.5M	258M	322.5M	205.2M	175.6M	340.1M	414.4M	199.8M
Gross profit	247.6M	285M	345.5M	258.2M	271.8M	346.4M	461.2M	309.7M	301.4M	359M	447.3M	331M
Gross margin	60.2%	59.4%	56.4%	59.4%	62.4%	57.3%	58.8%	60.1%	63.2%	51.4%	51.9%	62.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	—	—	—	—	—	—	—	—	—	—
Operating income	137.4M	174M	230.7M	145.3M	155.1M	226.6M	338.9M	185.3M	169.8M	227M	310.6M	193.3M
Operating margin	33.4%	36.3%	37.7%	33.4%	35.6%	37.5%	43.2%	36%	35.6%	32.5%	36%	36.4%
Non-operating income, net	6.6M	2.9M	96.7M	4.7M	5.6M	7.9M	6.1M	6.6M	7.8M	5.7M	5.8M	4.4M
Pretax income	76.4M	104.6M	255.1M	77.2M	85.2M	155.9M	263.2M	112.4M	96.4M	147.8M	230.8M	109.1M
Income tax	-3.7M	-30.8M	-10.6M	1.9M	15.8M	-28.9M	-20.6M	4.6M	4.3M	15.2M	6.4M	3.4M
Net income	80.1M	135.4M	265.8M	75.4M	69.4M	184.8M	283.8M	107.8M	92.1M	132.7M	224.4M	105.7M
Net margin	19.5%	28.3%	43.4%	17.4%	15.9%	30.6%	36.2%	20.9%	19.3%	19%	26%	19.9%
EBITDA	225.8M	263.5M	321.9M	235.5M	248.9M	325.7M	438.6M	288.4M	279.4M	332.4M	423.1M	305.8M
EPS	0.3	0.5	0.97	0.28	0.25	0.67	1.03	0.38	0.33	0.47	0.79	0.37
Diluted EPS	0.3	0.5	0.97	0.28	0.25	0.67	1.03	0.38	0.33	0.47	0.79	0.37

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	5.3B	7B	6.1B	—	—	13.8B	12.5B	10B	9.9B	10.7B	11.1B
Enterprise value	7.2B	9.1B	8.6B	—	—	19.8B	19.3B	17.1B	17.7B	19B	19.7B
Shares outstanding	177.3M	177.6M	177.9M	215.6M	249.8M	257.5M	262.2M	267.2M	273.9M	280.1M	280.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.7	29.1	31.7	—	—	32	26.9	20	16.7	17.4	20.3
P/S	6.5	8.61	7.26	—	—	7.36	5.47	4.86	4.77	4.34	4.37
P/B	2.88	3.56	3.03	—	—	2.67	2.33	1.69	1.6	1.57	1.6
EV/EBITDA	15.7	19.5	18.4	—	—	21.9	19.6	16.4	15.6	14.2	14.6
EV/Sales	8.8	11.2	10.3	—	—	10.6	8.45	8.31	8.47	7.68	7.69
Earnings yield	4.4%	3.44%	3.16%	—	—	3.12%	3.72%	4.99%	5.98%	5.74%	4.93%
FCF yield	0.25%	-1.39%	-2.09%	—	—	-2.72%	-3.69%	-2.66%	-5.62%	-3.91%	-5.95%
PEG	—	—	—	—	—	—	—	—	—	—	-7.7

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	63.8%	65.1%	63.2%	62.6%	52.5%	52.6%	46.9%	54.8%	58.6%	57.8%	62.4%
Operating margin	40.7%	41.2%	38.6%	38.2%	29.7%	32.1%	28.9%	33.7%	36.3%	37.2%	35.4%
Net margin	28.6%	29.6%	22.9%	25.2%	19.5%	23%	20.3%	24.3%	28.5%	24.9%	21.6%
ROE	12.7%	12.2%	9.55%	5.79%	6.08%	8.33%	8.65%	8.45%	9.6%	8.99%	8.08%
ROA	3.8%	3.79%	2.76%	2.4%	2.08%	2.94%	2.96%	2.96%	3.3%	3.17%	2.96%
ROIC	8.18%	7.65%	7.08%	6.67%	4.18%	5.38%	5.42%	5.33%	5.45%	6.05%	5.51%
Return on tangible assets	3.86%	3.84%	2.8%	2.43%	3.15%	4.33%	4.22%	4.1%	4.46%	4.18%	3.64%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.43	0.46	0.37	6.23	0.63	0.65	0.64	0.62	0.5	0.8	0.78
Quick ratio	0.38	0.41	0.33	6.17	0.53	0.49	0.45	0.48	0.4	0.65	0.62
Debt / equity	1.02	1.09	1.27	0.8	1.22	1.16	1.27	1.2	1.25	1.21	1.22
Debt / assets	0.31	0.34	0.37	0.33	0.42	0.41	0.43	0.42	0.43	0.43	0.43
Net debt / EBITDA	4.11	4.55	5.43	2.35	8.21	6.64	6.93	6.8	6.82	6.18	6.35
Interest coverage	4.17	3.9	2.8	2.69	2.41	3.03	2.89	2.52	2.9	2.88	2.7
Effective tax rate	8.22%	6.59%	0%	0%	0%	0%	0%	0%	0%	0.56%	5.01%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.62	4.56	4.71	4.13	5.86	7.29	8.72	7.69	7.62	8.84	9.08
EPS (basic)	1.32	1.35	1.08	1.04	1.14	1.68	1.77	1.86	2.17	2.2	2.2
EPS (diluted)	1.32	1.35	1.08	1.04	1.12	1.67	1.77	1.86	2.17	2.2	1.95
Book value per share	10.4	11	11.3	18	18.8	20.1	20.5	22.1	22.6	24.5	24.7
FCF per share	0.07	-0.54	-0.72	-0.98	-1.31	-1.46	-1.76	-0.99	-2.04	-1.5	-1.59
Cash per share	0.02	0.02	0.02	8.67	0.02	0.04	0.04	0.02	0.03	0.12	0.03
Capex per share	2.16	2.69	2.79	2.55	3.35	3.96	4.05	4.49	4.85	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	46.7%	59.1%	59.2%	61.8%	57.1%	54.3%	46.4%	58.4%	63.7%	—	—
Capex / operating cash flow	99%	126.9%	163.3%	191.6%	174.8%	166.3%	204.4%	129.6%	163.4%	—	—
Payout ratio	55.9%	58.7%	78.5%	84%	81.6%	59.9%	62%	63.6%	58.2%	60.6%	70.3%
Dividend yield	2.46%	2.02%	2.48%	—	—	1.87%	2.31%	3.17%	3.48%	3.48%	3.71%

Yield

3.71%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.361

ex-dividend Aug 11, 2026

Payout ratio

70%

of earnings

Dividend growth

19 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 11, 2026	$0.361
May 12, 2026	$0.343
Feb 9, 2026	$0.343

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$411.3M	$479.4M	$612.1M	$434.4M	$435.3M	$604.4M	$783.6M	$514.9M	$477M	$699.1M	$861.8M	$530.9M
YoY change	-5.38%	-32%	-15.7%	-0.53%	+5.84%	+26.1%	+28%	+18.5%	+9.58%	+15.7%	+9.97%	+3.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.8M	4.2M	3.6M	1.9B	4.8M	10.6M	11.4M	4.6M	9.2M	34.8M
Receivables	63.5M	65.7M	68.3M	69.2M	189.3M	197.8M	265.5M	200M	211.2M	257.7M
Inventory	13M	14.4M	15.8M	18.4M	58.4M	109.6M	199.7M	112.7M	93.9M	112.5M
Total current assets	128.7M	131.2M	147.2M	2B	380.2M	437.8M	658.2M	492M	485.9M	610.4M
Property, plant & equipment	-509.9M	-529.6M	-538.7M	-601.6M	-59.4M	-196.5M	-276.6M	-546.8M	-635M	-801.3M
Goodwill & intangibles	84.4M	84.5M	105.5M	127.6M	4.7B	4.7B	4.7B	4.7B	4.7B	4.7B
Total assets	6.2B	6.3B	7B	9.4B	13.7B	14.7B	15.7B	16.8B	18B	19.5B
Accounts payable	47.3M	59.2M	77.3M	74.9M	177.5M	192.9M	238.8M	221.2M	258.6M	276.1M
Short-term debt	157.2M	117.4M	160M	130.8M	162.6M	197.1M	427.9M	227.5M	329.3M	172M
Total current liabilities	301.5M	284.5M	399M	323.5M	603.9M	675.1M	1B	797.9M	974.7M	764.5M
Long-term debt	1.7B	2B	2.4B	3B	5.6B	5.8B	6.4B	6.9B	7.4B	8.1B
Total liabilities	4.3B	4.4B	5B	5.5B	9B	9.5B	10.3B	10.9B	11.8B	12.6B
Shareholders' equity	1.9B	2B	2B	3.9B	4.7B	5.2B	5.4B	5.9B	6.2B	6.9B
Total debt	1.9B	2.1B	2.6B	3.1B	5.7B	6B	6.8B	7.1B	7.7B	8.3B
Net debt	1.9B	2.1B	2.6B	1.2B	5.7B	6B	6.8B	7.1B	7.7B	8.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	8.5M	4.6M	35.2M	18.8M	8.4M	9.2M	20.8M	25.1M	6.4M	34.8M	75.9M	8.6M
Receivables	133.7M	200M	164.6M	139.8M	124.8M	211.2M	244.4M	198.5M	154.7M	257.7M	287.3M	207.8M
Inventory	127.4M	112.7M	66.8M	84.5M	105.2M	93.9M	61M	90.5M	123.6M	112.5M	72.2M	95.7M
Total current assets	409.3M	492M	419.5M	362.7M	373.9M	485.9M	494.5M	439.4M	433.6M	610.4M	622.6M	465.3M
Property, plant & equipment	11.9B	-546.8M	12.3B	12.6B	12.8B	-635M	13.4B	13.6B	13.9B	-801.3M	14.5B	14.8B
Goodwill & intangibles	4.7B	4.7B	4.7B	4.7B	4.7B	4.7B	4.7B	4.7B	4.7B	4.7B	4.7B	4.7B
Total assets	16.4B	16.8B	17.1B	17.3B	17.6B	18B	18.3B	18.6B	18.9B	19.5B	19.8B	19.9B
Accounts payable	191.9M	221.2M	161.2M	204.8M	231.4M	258.6M	182.9M	198.1M	197.3M	276.1M	172M	198.9M
Short-term debt	350.5M	227.5M	154.7M	165.1M	172.2M	329.3M	231.8M	150.2M	232.1M	172M	62.1M	83.3M
Total current liabilities	896.6M	797.9M	678.6M	629.1M	683.1M	974.7M	756.6M	598.8M	728.1M	764.5M	654.4M	599M
Long-term debt	6.5B	6.9B	6.9B	7B	7.3B	7.4B	7.6B	7.6B	7.7B	8.1B	8.4B	8.4B
Total liabilities	10.5B	10.9B	11B	11.1B	11.4B	11.8B	11.9B	11.8B	12.1B	12.6B	12.9B	12.9B
Shareholders' equity	5.9B	5.9B	6.1B	6.2B	6.2B	6.2B	6.5B	6.7B	6.8B	6.9B	6.9B	7B
Total debt	6.8B	7.1B	7B	7.2B	7.4B	7.7B	7.8B	7.8B	7.9B	8.3B	8.4B	8.5B
Net debt	6.8B	7.1B	7B	7.2B	7.4B	7.7B	7.8B	7.8B	7.9B	8.3B	8.4B	8.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	234.2M	239.7M	192M	224.5M	284.8M	431.6M	465.2M	498.2M	595.3M	616.4M
Depreciation & amortization	133M	136.7M	146.7M	156.5M	257.1M	298M	321.2M	343.7M	369.6M	417.5M
Stock-based compensation	5.4M	6.3M	7.6M	7.4M	8.2M	10.1M	12.2M	11.3M	9.8M	12.9M
Change in working capital	-4M	-6.5M	-18M	-4.3M	-35.3M	-109.6M	-223.3M	190M	-103.3M	-85.4M
Operating cash flow	387M	376.8M	303.6M	287.2M	478.2M	613.7M	519.9M	925M	813.7M	1B
Capital expenditure	-383M	-478.1M	-495.7M	-550.3M	-835.6M	-1B	-1.1B	-1.2B	-1.3B	—
Investing cash flow	-383.2M	-480.4M	-639.8M	-604.6M	-4.3B	-1.1B	-1.2B	-1.2B	-1.2B	-80.8M
Dividends paid	-130.9M	-140.7M	-150.7M	-188.5M	-232.6M	-258.6M	-288.6M	-316.8M	-346.4M	-373.8M
Share repurchases	-3M	-2.2M	-2.6M	-1.9M	-4.4M	-3.3M	-1.2M	-4M	-4M	-2.3M
Financing cash flow	-16.7M	96.6M	269.3M	2.1B	2B	412.9M	576.4M	281.1M	395M	466.3M
Net change in cash	-12.9M	-6.9M	-67M	1.8B	-1.9B	-29.4M	-82M	-15.7M	45.5M	1.4B
Free cash flow	13.2M	-96.8M	-127.2M	-211.8M	-327.6M	-375.8M	-462.5M	-265.5M	-559.4M	-419.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	80.1M	135.4M	265.8M	75.4M	69.4M	184.8M	283.8M	107.8M	92.1M	132.7M	224.4M	105.7M
Depreciation & amortization	86M	88.2M	89.8M	90.6M	92.6M	96.5M	99.4M	103.5M	107.1M	107.5M	110.7M	113.3M
Stock-based compensation	2M	2.4M	1.1M	2.8M	1.5M	4.4M	2.6M	4.3M	4.9M	1M	2.7M	4.5M
Change in working capital	-34.7M	-75.9M	122K	21.1M	-30.8M	-93.8M	-9.1M	45M	-21.8M	-99.5M	3.3M	77.8M
Operating cash flow	92M	132M	342.8M	185.9M	129.4M	155.7M	347.3M	272.3M	232.5M	206.1M	265.4M	323.6M
Capital expenditure	-326.9M	-324.6M	-253M	-295.9M	-383.6M	-397.2M	-270.5M	—	—	—	—	—
Investing cash flow	-346.3M	-303M	-86.5M	-295.6M	-383.9M	-397.2M	-287.9M	-2.9M	-36.3M	-1.9M	1.8M	-5.6M
Dividends paid	-81.2M	-83.9M	-83.9M	-84M	-89.1M	-89.4M	-89.5M	-91.3M	-96.2M	-96.9M	-97M	-97.2M
Share repurchases	-2K	-26K	-2.2M	-1K	-2K	-1.8M	-2.2M	-3K	-38K	-9K	-2.9M	-20K
Financing cash flow	340.5M	170.1M	-198.9M	101.5M	244.2M	248.2M	-138.8M	4.5M	237.7M	320.7M	-338.2M	95.8M
Net change in cash	86.1M	-965K	57.5M	-8.3M	-10.3M	6.6M	-79.3M	274M	433.9M	524.8M	-71M	413.8M
Free cash flow	-143.7M	-195.6M	-12.3M	-110.2M	-187.5M	-249.4M	29M	-69.8M	-137.9M	-240.8M	-3.8M	-69.3M

Date	Ratio
Sep 3, 2013	5:4
Dec 2, 2005	4:3
Dec 2, 2003	5:4
Dec 3, 2001	5:4
Dec 4, 2000	5:4
Jan 13, 1998	4:3
Jul 11, 1996	3:2
Sep 3, 1986	3:2
Jul 1, 1981	1243:100

Essential Utilities Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history