Chesapeake Utilities Corporation (CPK) 10-Year Financial Performance & Capital Metrics

CPK • • Utilities

UtilitiesGas UtilitiesIntegrated Gas InfrastructureDiversified Energy Utilities

AboutChesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula and Florida; and regulated electric distribution in northeast and northwest Florida. The Unregulated Energy segment engages in the propane operations in the Mid-Atlantic region, North Carolina, South Carolina, and Florida; unregulated natural gas transmission/supply operation in central and eastern Ohio; generation of electricity and steam; and provision of compressed natural gas, liquefied natural gas, and renewable natural gas transportation and pipeline solutions primarily to utilities and pipelines in the eastern United States. This segment also provides other unregulated energy services, such as energy-related merchandise sales; heating, ventilation, and air conditioning services; and plumbing and electrical services. The company was founded in 1859 and is headquartered in Dover, Delaware.Show more

Revenue $787M +17.4%
EBITDA $310M +35.7%
Net Income $119M +36.0%
Free Cash Flow -$116M +87.2%
EBITDA Margin 39.34% +15.6%
Net Margin 15.07% +15.9%
ROE 9% +7.3%
Interest Coverage 3.34 -18.3%
Debt/Equity 1.07 -4.2%
Net Debt/EBITDA 4.79 -21.4%
CapEx / Revenue 45.13% -72.8%
CapEx Coverage 0.67 +268.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓15 years of consecutive dividend growth
✓15 consecutive years of dividend growth
✓Strong interest coverage of 3.3x

✗Weaknesses

✗Shares diluted 22.2% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.67%

5Y10.42%

3Y11.36%

TTM16.99%

Profit (Net Income) CAGR

10Y12.63%

5Y12.73%

3Y12.42%

TTM22.03%

EPS CAGR

10Y7.85%

5Y7.7%

3Y3.6%

TTM14.6%

ROCE

10Y Avg8.38%

5Y Avg7.45%

3Y Avg7.27%

Latest7.51%

Peer Comparison

Diversified Energy Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NINiSource Inc.	20.6B	43.53	26.87	-0.91%	14.16%	7.97%		1.31
CPKChesapeake Utilities Corporation	2.98B	125.90	23.94	17.39%	14.77%	8.62%		1.07
NJRNew Jersey Resources Corporation	4.79B	47.55	14.28	13.94%	19.7%	16.99%	9.73%	1.58
UGIUGI Corporation	8.05B	37.48	12.13	1.1%	5.7%	8.56%	4.84%	1.58
SPHSuburban Propane Partners, L.P.	1.27B	19.15	11.82	7.94%	6.79%	15.03%	4.58%	0.20

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	459.24M	498.86M	617.58M	717.49M	479.61M	488.2M	569.97M	680.7M	670.6M	787.2M
Revenue Growth %	-0.08%	0.09%	0.24%	0.16%	-0.33%	0.02%	0.17%	0.19%	-0.01%	0.17%
Cost of Revenue	339.41M	368M	478.19M	563.57M	308.02M	295.58M	352.04M	443.2M	415.3M	452.4M
Gross Profit+	119.84M	130.85M	139.4M	153.92M	171.58M	192.62M	217.93M	237.5M	255.3M	334.8M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.1%	0.09%	0.07%	0.1%	0.11%	0.12%	0.13%	0.09%	0.07%	0.31%
Operating Expenses+	43.58M	46.89M	53.68M	59.43M	65.3M	79.89M	86.82M	94.6M	104.5M	106.6M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	107.73M	123.59M	130.56M	143.38M	160.94M	180.44M	204M	222.9M	228.2M	309.7M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.22%	0.15%	0.06%	0.1%	0.12%	0.12%	0.13%	0.09%	0.02%	0.36%
Depreciation & Amortization+	29.97M	39.49M	44.72M	48.76M	54.65M	67.72M	72.89M	80M	77.4M	81.5M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	77.76M	84.1M	85.84M	94.62M	106.28M	112.72M	131.11M	142.9M	150.8M	228.2M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.25%	0.08%	0.02%	0.1%	0.12%	0.06%	0.16%	0.09%	0.06%	0.51%
Interest Expense+	10.01M	10.64M	12.64M	16.15M	22.22M	21.77M	20.14M	24.36M	36.95M	68.4M
Interest Coverage	7.77x	7.90x	6.79x	5.86x	4.78x	5.18x	6.51x	5.87x	4.08x	3.34x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	68.05M	73.02M	72.43M	77.57M	82.21M	94.18M	112.7M	123.6M	115.3M	161.8M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	26.91M	28.34M	14.31M	20.99M	21.11M	23.54M	29.23M	33.8M	28.1M	43.2M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	41.14M	44.67M	58.12M	56.58M	65.15M	71.5M	83.47M	89.8M	87.2M	118.6M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.14%	0.09%	0.3%	-0.03%	0.15%	0.1%	0.17%	0.08%	-0.03%	0.36%
EPS (Diluted)+	2.72	2.86	3.55	3.45	3.63	4.25	4.73	5.04	4.73	5.26
EPS Growth %	0.1%	0.05%	0.24%	-0.03%	0.05%	0.17%	0.11%	0.07%	-0.06%	0.11%
EPS (Basic)	2.73	2.87	3.56	3.46	3.64	4.27	4.75	5.07	4.75	5.28
Diluted Shares Outstanding	15.14M	15.61M	16.38M	16.42M	16.45M	16.77M	17.63M	17.8M	18.43M	22.53M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.07B	1.23B	1.42B	1.69B	1.78B	1.93B	2.11B	2.22B	3.3B	3.58B
Asset Growth %	0.18%	0.15%	0.15%	0.19%	0.05%	0.08%	0.09%	0.05%	0.49%	0.08%
PP&E (Net)+	854.95M	986.66M	1.13B	1.38B	1.48B	1.61B	1.76B	1.82B	2.47B	2.75B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	112.54M	141.15M	178.59M	191.54M	134.83M	136.43M	170.34M	193.98M	185.7M	204.3M
Cash & Equivalents	2.85M	4.18M	5.61M	6.09M	6.99M	3.5M	4.98M	6.2M	4.9M	7.9M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	10.42M	11.03M	20.35M	16.92M	11.89M	11.45M	20.99M	26.26M	29.23M	26.9M
Other Current Assets	9.46M	10.99M	19.48M	81.97M	8.02M	14.49M	25.1M	44.65M	23.26M	27.1M
Long-Term Investments	3.64M	4.9M	6.76M	6.71M	9.23M	10.78M	12.1M	10.58M	12.28M	14.4M
Goodwill	14.55M	15.07M	22.1M	25.84M	32.67M	38.73M	44.71M	46.21M	508.17M	507.7M
Intangible Assets	2.22M	1.84M	4.69M	6.21M	8.13M	8.29M	13.19M	17.86M	16.86M	15M
Other Assets	-112.75M	-143.31M	-56.58M	-77.41M	122.99M	-79.5M	119.52M	-134.65M	112.88M	89.2M
Total Liabilities	710.45M	783.13M	931.14M	1.18B	1.22B	1.24B	1.34B	1.38B	2.06B	2.19B
Total Debt+	331.89M	358.92M	457.79M	622.41M	743.03M	707.62M	798.07M	814.42M	1.4B	1.49B
Net Debt	329.03M	354.75M	452.17M	616.32M	736.05M	704.12M	793.09M	808.22M	1.39B	1.48B
Long-Term Debt	149.01M	136.95M	197.4M	316.02M	440.17M	508.5M	549.9M	578.39M	1.19B	1.26B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	2.07M	0	1.31M	9.9M	9.87M	8.57M	12.39M	10.55M	8.7M
Total Current Liabilities+	279.59M	334.05M	413M	528.23M	423.32M	329.03M	376.39M	369.02M	386.38M	419.4M
Accounts Payable	39.3M	56.94M	74.69M	98.68M	54.07M	60.25M	52.63M	61.5M	77.48M	78.3M
Accrued Expenses	8.37M	8.38M	12.02M	25.84M	14.63M	18.14M	20.7M	16.97M	20.38M	18.7M
Deferred Revenue	27.17M	29.24M	34.75M	34.16M	30.94M	33.3M	36.49M	37.15M	46.43M	45.7M
Other Current Liabilities	17.81M	12.56M	25.84M	96.01M	24.07M	20.41M	18.52M	20.28M	30.62M	40M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	280.68M	312.13M	318.25M	169.88M	167.58M	182.61M	172.32M	166.27M	215.51M	200.9M
Total Equity+	358.14M	446.09M	486.29M	518.44M	561.58M	697.09M	774.13M	832.8M	1.25B	1.39B
Equity Growth %	0.19%	0.25%	0.09%	0.07%	0.08%	0.24%	0.11%	0.08%	0.5%	0.12%
Shareholders Equity	358.14M	446.09M	486.29M	518.44M	561.58M	697.09M	774.13M	832.8M	1.25B	1.39B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	7.43M	7.93M	7.96M	7.97M	7.98M	8.5M	8.59M	8.63M	10.82M	11.1M
Additional Paid-in Capital	190.31M	250.97M	253.47M	255.65M	259.25M	348.48M	371.16M	380.04M	749.36M	830.5M
Retained Earnings	166.24M	192.06M	229.14M	261.53M	300.61M	342.97M	393.07M	445.51M	488.66M	550.3M
Accumulated OCI	-5.84M	-4.88M	-4.27M	-6.71M	-6.27M	-2.87M	1.3M	-1.38M	-2.74M	-1.7M
Return on Assets (ROA)	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.03%	0.03%
Return on Equity (ROE)	0.12%	0.11%	0.12%	0.11%	0.12%	0.11%	0.11%	0.11%	0.08%	0.09%
Debt / Equity	0.93x	0.80x	0.94x	1.20x	1.32x	1.02x	1.03x	0.98x	1.12x	1.07x
Debt / Assets	0.31%	0.29%	0.32%	0.37%	0.42%	0.37%	0.38%	0.37%	0.42%	0.42%
Net Debt / EBITDA	3.05x	2.87x	3.46x	4.30x	4.57x	3.90x	3.89x	3.63x	6.10x	4.79x
Book Value per Share	23.65	28.57	29.68	31.57	34.14	41.57	43.9	46.78	67.59	61.7

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	105.14M	103.37M	110.09M	146.78M	102.96M	158.92M	150.5M	158.88M	203.48M	239.4M
Operating CF Growth %	0.33%	-0.02%	0.06%	0.33%	-0.3%	0.54%	-0.05%	0.06%	0.28%	0.18%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	41.14M	44.67M	58.12M	56.58M	65.15M	71.5M	83.47M	89.8M	87.21M	118.6M
Depreciation & Amortization	36.95M	39.49M	44.72M	49.34M	54.65M	67.72M	72.89M	80.02M	77.44M	81.5M
Deferred Taxes	20.52M	31.26M	11.09M	21.23M	24.48M	24.71M	26.66M	23.7M	3.41M	36.4M
Other Non-Cash Items	1.04M	2.12M	3M	6.78M	-11.09M	-7.72M	-10.54M	-6.83M	-2.23M	-6.4M
Working Capital Changes	3.56M	-16.54M	-9.34M	10.04M	-34.51M	-2.12M	-27.91M	-34.25M	30.03M	900K
Capital Expenditures+	-144.62M	-169.86M	-175.33M	-269.77M	-184.73M	-165.51M	-186.92M	-128.28M	-1.11B	-355.3M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-165.56M	-170.04M	-186.9M	-286.26M	-186.59M	-181.63M	-223.02M	-136.45M	-1.11B	-349.9M
Acquisitions	-20.93M	174K	-11.95M	-16.65M	-23.99M	-22.23M	-36.37M	-11.77M	-925.03M	600K
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale of Investments	0	0	0	0	0	0	0	0	0	0
Other Investing	-10K	-176K	379K	157K	22.13M	6.11M	272K	3.59M	2.26M	4.8M
Cash from Financing+	58.7M	67.22M	78.24M	139.96M	84.52M	19.23M	74M	-21.21M	906.61M	113.5M
Dividends Paid	-15.92M	-17.48M	-19.93M	-22.04M	-24.69M	-27.16M	-31.54M	-35.15M	-40.01M	-54.2M
Dividend Payout Ratio %	0.39%	0.39%	0.34%	0.39%	0.38%	0.38%	0.38%	0.39%	0.46%	0.46%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	1000K
Stock Issued	813K	58.17M	79K	0	0	83.61M	15.85M	4.53M	366.42M	72.6M
Share Repurchases	0	0	0	0	-721K	0	0	0	-28K	0
Other Financing	0	58.17M	-692K	-706K	-692K	-977K	-1.48M	4.53M	-2.46M	-1.5M
Net Change in Cash+	-1.72M	1.32M	1.44M	475K	896K	-3.49M	1.48M	1.23M	-1.3M	3M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	4.57M	2.85M	4.18M	5.61M	6.09M	6.99M	3.5M	4.98M	6.2M	4.9M
Cash at End	2.85M	4.18M	5.61M	6.09M	6.99M	3.5M	4.98M	6.2M	4.9M	7.9M
Free Cash Flow+	-39.48M	-66.49M	-65.24M	-122.99M	-81.76M	-6.59M	-36.42M	30.61M	-907.91M	-115.9M
FCF Growth %	-1.21%	-0.68%	0.02%	-0.89%	0.34%	0.92%	-4.52%	1.84%	-30.66%	0.87%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.5%	11.11%	12.47%	11.26%	12.07%	11.36%	11.35%	11.18%	8.39%	9%
EBITDA Margin	23.46%	24.77%	21.14%	19.98%	33.56%	36.96%	35.79%	32.75%	34.03%	39.34%
Net Debt / EBITDA	3.05x	2.87x	3.46x	4.30x	4.57x	3.90x	3.89x	3.63x	6.10x	4.79x
Interest Coverage	7.77x	7.90x	6.79x	5.86x	4.78x	5.18x	6.51x	5.87x	4.08x	3.34x
CapEx / Revenue	31.49%	34.05%	28.39%	37.6%	38.52%	33.9%	32.8%	18.84%	165.73%	45.13%
Dividend Payout Ratio	38.71%	39.13%	34.29%	38.96%	37.9%	37.99%	37.78%	39.14%	45.88%	45.7%
Debt / Equity	0.93x	0.80x	0.94x	1.20x	1.32x	1.02x	1.03x	0.98x	1.12x	1.07x
EPS Growth	10.12%	5.15%	24.13%	-2.82%	5.22%	17.08%	11.29%	6.55%	-6.15%	11.21%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Regulated Energy	300.67M	302.4M	316.97M	236K	-100K	-	383.92M	429.42M	473.6M	583.4M
Regulated Energy Growth	-	0.57%	4.82%	-99.93%	-142.37%	-	-	11.85%	10.29%	23.19%
Unregulated Energy	158.57M	196.46M	300.61M	334K	300K	-	206.87M	280.75M	223.15M	228.4M
Unregulated Energy Growth	-	23.89%	53.02%	-99.89%	-10.18%	-	-	35.71%	-20.52%	2.35%
Other	-	-	-	-48.41M	-17.55M	-	-	-	-26.14M	-
Other Growth	-	-	-	-	63.74%	-	-	-	-	-
Energy Transmission	-	-	-	-	-	126.16M	-	-	-	-
Energy Transmission Growth	-	-	-	-	-	-	-	-	-	-
Eliminations	-	-	-	-	-	-17.6M	-	-	-	-
Eliminations Growth	-	-	-	-	-	-	-	-	-	-
Others And Intersegments Eliminations	-	-	-	-48.41M	-17.55M	-	-	-	-	-
Others And Intersegments Eliminations Growth	-	-	-	-	63.74%	-	-	-	-	-
Consolidation, Eliminations	-	-	-	-96.69M	-65.24M	-	-	-	-	-
Consolidation, Eliminations Growth	-	-	-	-	32.52%	-	-	-	-	-
Others	-	-	774K	-	-	-	-	-	-	-
Others Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Chesapeake Utilities Corporation (CPK) has a price-to-earnings (P/E) ratio of 23.9x. This is roughly in line with market averages.

Growth & Financials

Chesapeake Utilities Corporation (CPK) reported $886.1M in revenue for fiscal year 2024. This represents a 112% increase from $418.0M in 2011.

Chesapeake Utilities Corporation (CPK) grew revenue by 17.4% over the past year. This is strong growth.

Yes, Chesapeake Utilities Corporation (CPK) is profitable, generating $130.9M in net income for fiscal year 2024 (15.1% net margin).

Dividend & Returns

Yes, Chesapeake Utilities Corporation (CPK) pays a dividend with a yield of 1.91%. This makes it attractive for income-focused investors.

Chesapeake Utilities Corporation (CPK) has a return on equity (ROE) of 9.0%. This is below average, suggesting room for improvement.

Chesapeake Utilities Corporation (CPK) had negative free cash flow of $197.9M in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

Chesapeake Utilities Corporation (CPK) has a dividend payout ratio of 46%. This suggests the dividend is well-covered and sustainable.

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