Essential Utilities, Inc. (WTRG) 10-Year Financial Performance & Capital Metrics

WTRG • • Utilities

UtilitiesWater UtilitiesIntegrated Water UtilitiesMulti-State Water Utilities

AboutEssential Utilities, Inc., through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. It offers water services through operating and maintenance contract with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through a third-party. It serves approximately 7.5 million residential water, commercial water, fire protection, industrial water, wastewater, and other water and utility customers in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, Virginia, West Virginia, and Kentucky under the Aqua and Peoples brands. The company was formerly known as Aqua America, Inc. and changed its name to Essential Utilities, Inc. in February 2020. Essential Utilities, Inc. was founded in 1886 and is headquartered in Bryn Mawr, Pennsylvania.Show more

Revenue $2.09B +1.6%
EBITDA $1.13B +8.8%
Net Income $595M +19.5%
Free Cash Flow -$559M -110.7%
EBITDA Margin 54.03% +7.1%
Net Margin 28.54% +17.6%
ROE 9.84% +11.4%
Interest Coverage 2.50 +2.6%
Debt/Equity 1.25 +3.7%
Net Debt/EBITDA 6.85
CapEx / Revenue 63.74% +9.2%
CapEx Coverage 0.58 -25.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Dividend Aristocrat: 25 years of consecutive increases
✓Strong 5Y profit CAGR of 21.5%
✓25 years of consecutive dividend growth
✓Healthy dividend yield of 3.2%

✗Weaknesses

✗High leverage: 6.9x Debt/EBITDA

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.34%

5Y18.58%

3Y3.56%

TTM21.35%

Profit (Net Income) CAGR

10Y9.82%

5Y21.53%

3Y11.31%

TTM22.42%

EPS CAGR

10Y5.18%

5Y15.85%

3Y9.12%

TTM20.5%

ROCE

10Y Avg4.9%

5Y Avg4.41%

3Y Avg4.56%

Latest4.58%

Peer Comparison

Multi-State Water Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
AWKAmerican Water Works Company, Inc.	25.62B	131.26	24.35	10.63%	21.93%	10.2%	1.37
HTOH2O America	1.87B	52.11	18.68	11.65%	13.59%	7.17%	1.34
WTRGEssential Utilities, Inc.	11.09B	39.19	18.06	1.57%	28.09%	9.81%	1.25
CWTCalifornia Water Service Group	2.65B	44.52	13.70	30.48%	13.61%	8.01%	0.85
SBSCompanhia de Saneamento Básico do Estado de São Paulo - SABESP	16.24B	23.19	1.65	41.35%	19.5%	18.81%	0.68

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	814.2M	819.88M	809.52M	838.09M	889.69M	1.46B	1.88B	2.29B	2.05B	2.09B
Revenue Growth %	0.04%	0.01%	-0.01%	0.04%	0.06%	0.64%	0.28%	0.22%	-0.1%	0.02%
Cost of Revenue	309.31M	297.18M	282.25M	308.48M	333.1M	694.36M	890.84M	1.22B	927.82M	864.26M
Gross Profit+	504.89M	522.69M	527.27M	529.61M	556.59M	768.34M	987.3M	1.07B	1.13B	1.22B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.03%	0.04%	0.01%	0%	0.05%	0.38%	0.28%	0.09%	0.05%	0.09%
Operating Expenses+	183.79M	189.39M	193.35M	206.44M	216.43M	333.66M	384.59M	411.2M	433.9M	464.19M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	449.84M	466.31M	470.64M	469.85M	496.63M	691.75M	900.66M	982.36M	1.04B	1.13B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.02%	0.04%	0.01%	-0%	0.06%	0.39%	0.3%	0.09%	0.05%	0.09%
Depreciation & Amortization+	128.74M	133.01M	136.72M	146.67M	156.48M	257.06M	297.95M	321.18M	343.69M	369.55M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	321.1M	333.3M	333.92M	323.18M	340.16M	434.69M	602.71M	661.19M	692.1M	757.67M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.02%	0.04%	0%	-0.03%	0.05%	0.28%	0.39%	0.1%	0.05%	0.09%
Interest Expense+	76.54M	80.59M	88.34M	98.9M	125.38M	188.44M	207.71M	238.12M	283.36M	302.47M
Interest Coverage	4.20x	4.14x	3.78x	3.27x	2.71x	2.31x	2.90x	2.78x	2.44x	2.50x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	216.75M	255.16M	256.65M	178.32M	211.53M	264.97M	422M	450.91M	431.78M	573.48M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	14.96M	20.98M	16.91M	-13.67M	-13.02M	-19.88M	-9.61M	-14.33M	-66.44M	-21.84M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	201.79M	234.18M	239.74M	191.99M	224.54M	284.85M	431.61M	465.24M	498.23M	595.31M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.13%	0.16%	0.02%	-0.2%	0.17%	0.27%	0.52%	0.08%	0.07%	0.19%
EPS (Diluted)+	1.14	1.32	1.35	1.08	1.04	1.12	1.67	1.77	1.86	2.17
EPS Growth %	-0.13%	0.16%	0.02%	-0.2%	-0.04%	0.08%	0.49%	0.06%	0.05%	0.17%
EPS (Basic)	1.14	1.32	1.35	1.08	1.04	1.14	1.68	1.77	1.86	2.17
Diluted Shares Outstanding	177.52M	177.85M	178.18M	178.4M	215.93M	254.63M	258.18M	262.87M	267.66M	274.42M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	5.74B	6.16B	6.33B	6.96B	9.36B	13.71B	14.66B	15.72B	16.84B	18.03B
Asset Growth %	0.06%	0.07%	0.03%	0.1%	0.34%	0.46%	0.07%	0.07%	0.07%	0.07%
PP&E (Net)+	4.69B	5B	5.4B	5.93B	6.36B	9.57B	10.3B	11.17B	12.13B	13.17B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	128.37M	128.65M	131.25M	147.17M	2.02B	380.22M	437.8M	658.16M	491.98M	485.91M
Cash & Equivalents	3.23M	3.76M	4.2M	3.63M	1.87B	4.83M	10.57M	11.4M	4.61M	9.16M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	12.41M	12.96M	14.36M	15.84M	18.38M	58.4M	109.56M	199.74M	112.67M	93.93M
Other Current Assets	1.78M	1.73M	1.54M	3.14M	3.95M	5.08M	20.15M	70.2M	128.96M	73.99M
Long-Term Investments	7.72M	7.03M	6.67M	6.96M	5.98M	0	0	0	0	1.42M
Goodwill	33.87M	42.21M	42.23M	52.73M	63.82M	2.32B	2.34B	2.34B	2.34B	2.34B
Intangible Assets	0	0	0	0	0	7.24M	5.76M	4.6M	3.59M	3.27M
Other Assets	52.04M	-289.76M	-16.62M	-18.09M	918.39M	1.42B	1.57B	1.54B	1.87B	1.89B
Total Liabilities	4.02B	4.31B	4.37B	4.96B	5.48B	9.02B	9.47B	10.34B	10.95B	11.83B
Total Debt+	1.8B	1.89B	2.13B	2.56B	3.09B	5.73B	6.02B	6.84B	7.09B	7.73B
Net Debt	1.79B	1.89B	2.12B	2.55B	1.22B	5.72B	6.01B	6.83B	7.08B	7.72B
Long-Term Debt	1.72B	1.74B	2.01B	2.4B	2.94B	5.51B	5.78B	6.37B	6.83B	7.37B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	11.64M	55.64M	48.23M	37.67M	34.42M	27.45M
Total Current Liabilities+	193.2M	301.54M	284.49M	398.98M	323.46M	603.87M	675.06M	1.02B	797.93M	974.67M
Accounts Payable	56.45M	47.26M	59.16M	77.33M	74.92M	177.49M	192.93M	238.84M	221.19M	258.62M
Accrued Expenses	62.55M	58.85M	62.51M	70.69M	79.44M	162.79M	164.96M	177.74M	180M	209.56M
Deferred Revenue	-56.45M	-59.87M	-59.16M	-77.33M	0	0	0	0	0	0
Other Current Liabilities	21.89M	38.22M	45.39M	22.23M	4.61M	19.87M	384K	38.54M	31.27M	1.77M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	2.1B	2.27B	1.22B	1.22B	1.17B	1.5B	1.46B	1.45B	1.53B	1.51B
Total Equity+	1.73B	1.85B	1.96B	2.01B	3.88B	4.68B	5.18B	5.38B	5.9B	6.2B
Equity Growth %	0.04%	0.07%	0.06%	0.03%	0.93%	0.21%	0.11%	0.04%	0.1%	0.05%
Shareholders Equity	1.73B	1.85B	1.96B	2.01B	3.88B	4.68B	5.18B	5.38B	5.9B	6.2B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	89.68M	90.16M	90.35M	90.58M	111.94M	124.28M	128.05M	133.49M	138.3M	139.1M
Additional Paid-in Capital	773.59M	797.51M	807.13M	820.38M	2.64B	3.38B	3.71B	3.79B	4.14B	4.2B
Retained Earnings	930.06M	1.03B	1.13B	1.17B	1.21B	1.26B	1.43B	1.53B	1.71B	1.95B
Accumulated OCI	687K	669K	860K	0	0	0	0	0	0	0
Return on Assets (ROA)	0.04%	0.04%	0.04%	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%	0.03%
Return on Equity (ROE)	0.12%	0.13%	0.13%	0.1%	0.08%	0.07%	0.09%	0.09%	0.09%	0.1%
Debt / Equity	1.04x	1.02x	1.09x	1.27x	0.80x	1.22x	1.16x	1.27x	1.20x	1.25x
Debt / Assets	0.31%	0.31%	0.34%	0.37%	0.33%	0.42%	0.41%	0.43%	0.42%	0.43%
Net Debt / EBITDA	3.99x	4.06x	4.51x	5.44x	2.45x	8.27x	6.68x	6.95x	6.84x	6.85x
Book Value per Share	9.72	10.4	10.99	11.26	17.97	18.39	20.08	20.46	22.03	22.59

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+	370.79M	395.79M	381.32M	368.52M	338.52M	508.02M	644.68M	600.31M	933.59M	770.34M
Operating CF Growth %	0.02%	0.07%	-0.04%	-0.03%	-0.08%	0.5%	0.27%	-0.07%	0.56%	-0.17%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	201.79M	234.18M	239.74M	191.99M	224.54M	284.85M	431.61M	465.24M	498.23M	595.31M
Depreciation & Amortization	128.74M	133.01M	136.72M	146.67M	156.48M	257.06M	297.95M	321.18M	343.69M	369.55M
Deferred Taxes	16.51M	17.25M	13.78M	-14.95M	-10.44M	-17.78M	-8.51M	-23.05M	-79.84M	-27.76M
Other Non-Cash Items	39.8M	19.44M	-8.04M	54.7M	-40.2M	12.9M	17.97M	-5.7M	-15.24M	-100.18M
Working Capital Changes	-21.89M	-13.48M	-7.22M	-17.46M	773K	-37.17M	-104.42M	-169.57M	175.43M	-76.37M
Capital Expenditures+	-364.69M	-383M	-478.09M	-495.74M	-550.27M	-4.33B	-1.02B	-1.06B	-1.2B	-1.33B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-394.06M	-383.21M	-480.38M	-639.82M	-604.6M	-4.33B	-1.06B	-1.18B	-1.22B	-1.16B
Acquisitions	-28.34M	-1.68M	-4.52M	-144.98M	-56.79M	-3.5B	-34.51M	-115.81M	-3.54M	166.81M
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	-1.03M	1.46M	2.22M	899K	2.46M	1.7M	-1.03M	271K	-19.08M	-339K
Cash from Financing+	22.36M	-12.04M	99.51M	270.72M	2.13B	1.96B	417.12M	578.83M	281.36M	397.48M
Dividends Paid	-121.25M	-130.92M	-140.66M	-150.74M	-188.51M	-232.57M	-258.65M	-288.63M	-316.81M	-346.39M
Dividend Payout Ratio %	0.6%	0.56%	0.59%	0.79%	0.84%	0.82%	0.6%	0.62%	0.64%	0.58%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Stock Issued	677K	1.39M	1.45M	5.16M	1.95B	745.82M	320.71M	79.66M	338.99M	51.61M
Share Repurchases	-25.25M	-3.03M	-2.17M	-2.56M	-1.87M	-4.37M	-3.29M	-1.19M	-3.98M	-4.05M
Other Financing	10.39M	1.22M	13.26M	7.14M	-22.25M	2.74M	8.36M	8.95M	15.63M	13.46M
Net Change in Cash+	-909K	534K	441K	-577K	1.87B	-1.86B	5.74M	831K	-6.79M	4.54M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	4.14M	3.23M	3.76M	4.2M	3.63M	1.87B	4.83M	10.57M	11.4M	4.61M
Cash at End	3.23M	3.76M	4.2M	3.63M	1.87B	4.83M	10.57M	11.4M	4.61M	9.16M
Free Cash Flow+	6.11M	12.79M	-96.77M	-127.22M	-211.75M	-3.83B	-375.84M	-462.46M	-265.52M	-559.4M
FCF Growth %	-0.83%	1.1%	-8.56%	-0.31%	-0.66%	-17.07%	0.9%	-0.23%	0.43%	-1.11%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.94%	13.1%	12.59%	9.68%	7.62%	6.65%	8.75%	8.81%	8.84%	9.84%
EBITDA Margin	55.25%	56.88%	58.14%	56.06%	55.82%	47.29%	47.95%	42.93%	50.43%	54.03%
Net Debt / EBITDA	3.99x	4.06x	4.51x	5.44x	2.45x	8.27x	6.68x	6.95x	6.84x	6.85x
Interest Coverage	4.20x	4.14x	3.78x	3.27x	2.71x	2.31x	2.90x	2.78x	2.44x	2.50x
CapEx / Revenue	44.79%	46.71%	59.06%	59.15%	61.85%	296.28%	54.34%	46.45%	58.38%	63.74%
Dividend Payout Ratio	60.09%	55.91%	58.67%	78.51%	83.95%	81.65%	59.93%	62.04%	63.59%	58.19%
Debt / Equity	1.04x	1.02x	1.09x	1.27x	0.80x	1.22x	1.16x	1.27x	1.20x	1.25x
EPS Growth	-12.98%	15.79%	2.27%	-20%	-3.7%	7.69%	49.11%	5.99%	5.08%	16.67%

Revenue by Segment

	2015	2016	2018	2019	2020	2021	2022	2023	2024
Water	-	-	731.44M	767.4M	804.68M	832.77M	902.87M	948.82M	1.01B
Water Growth	-	-	-	4.92%	4.86%	3.49%	8.42%	5.09%	6.61%
Natural Gas	-	-	-	-	314.27M	859.37M	1.14B	861.67M	842.99M
Natural Gas Growth	-	-	-	-	-	173.45%	33.00%	-24.61%	-2.17%
Wastewater	-	-	94.17M	105.2M	120.79M	132.58M	165.38M	187.39M	199.42M
Wastewater Growth	-	-	-	11.72%	14.82%	9.76%	24.74%	13.31%	6.42%
Other	-	-	9.43M	13.84M	12.86M	13.36M	11.48M	14.86M	32.47M
Other Growth	-	-	-	46.76%	-7.04%	3.86%	-14.07%	29.49%	118.45%
Regulated	6.66M	10.71M	-	-	-	-	-	-	-
Regulated Growth	-	60.73%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2018	2019	2020	2021	2022	2023	2024
Water	-	-	-	-	-	-	-	-	1.22B
Water Growth	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Essential Utilities, Inc. (WTRG) has a price-to-earnings (P/E) ratio of 18.1x. This is roughly in line with market averages.

Growth & Financials

Essential Utilities, Inc. (WTRG) reported $2.38B in revenue for fiscal year 2024. This represents a 234% increase from $712.0M in 2011.

Essential Utilities, Inc. (WTRG) grew revenue by 1.6% over the past year. Growth has been modest.

Yes, Essential Utilities, Inc. (WTRG) is profitable, generating $668.4M in net income for fiscal year 2024 (28.5% net margin).

Dividend & Returns

Yes, Essential Utilities, Inc. (WTRG) pays a dividend with a yield of 3.22%. This makes it attractive for income-focused investors.

Essential Utilities, Inc. (WTRG) has a return on equity (ROE) of 9.8%. This is below average, suggesting room for improvement.

Essential Utilities, Inc. (WTRG) had negative free cash flow of $464.6M in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

Essential Utilities, Inc. (WTRG) has a dividend payout ratio of 58%. This suggests the dividend is well-covered and sustainable.

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