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Unitil Corp (UTL) stock

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NYSE: UTL NYSE Multi-Utilities

C+ Fundamentals grade

Unitil Corp is a US-listed company in the multi-utilities industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$55

Valuation models combined (5)

Base case. Range ~$45–$62. Weighted average of 5 models (utility earnings model, price-to-earnings vs peers, justified price-to-book, residual income, dividend discount (two-stage)), the utility earnings model counting double.

Price vs value

Modestly overvalued

The price is inside our value range, 3% above our base value.

Price used: $56.44, November 2, 2026

Unitil Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds128 adding, 97 cuttingOf 36 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Unitil files

10-Q filed November 2: Unitil

Model value −5.1%

Revenue for the twelve months to September 2026 was $608m, up 21.1% on a year earlier, about the same pace as a quarter earlier. That growth ranks 1 of 17 among the multi-utilities companies we cover. Free-cash-flow margin rose to -6.6% from -9.9% a year earlier. The diluted share count is up 9.5% on a year earlier, which dilutes existing holders. Our model value falls from $57.45 to $54.54 a share, against a share price of $56.44. The rating stays Hold.

Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Unitil stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $596m, up 20.8% on a year earlier, faster than the 19.6% growth a quarter earlier. That growth ranks 1 of 15 among the multi-utilities companies we cover. Free-cash-flow margin held at -7.6%. The diluted share count is up 9.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 0 of our 5 financial-health checks. Our cash-flow model value is $57.45 a share, against a share price of $55.02.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Unitil Corp's trailing-twelve-month revenue grew 21.1% year on year, with a free-cash-flow margin of -6.6%. Where it stands out: revenue growth of 21.1% ranks 1 of 17 multi-utilities companies we cover. Where it lags: change in share count of 9.5% ranks 17 of 17 multi-utilities companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 21.1% (+0.3pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 21.1% over the last 12 months, against a median of 7.8% for multi-utilities companies we cover.

Things to watch

  • Burning cash. Free cash flow was -6.6% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 9.5% in a year.
  • Weak cash conversion. Free cash flow was -72% of net income over the last 12 months.
  • Below peers: net margin. Net margin of 9.1% ranks 16 of 17 multi-utilities companies we cover (median 11.8%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
$0.26 against an average estimate of $0.26: missed by 1.3%
Revenue
$113m, up 11.4% on a year earlier
Next report
November 2, 2026

Unitil's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.7%
  • 1 week+2.1%
  • 1 month+10.2%
  • This year+19.8%
  • 1 year+20.1%
  • 5 years+55.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$608M
Operating margin
18.6%
Net margin
9.1%
EPS (TTM, diluted)
$3.09

Growth

Revenue growth
+21.1%
Change in growth rate
+0.3 pts
Share count change
+9.5%

Cash

Free cash flow (TTM)
-$39.9M
FCF margin
-6.6%

Earnings

Last results
January 28, 2015

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Deal
  2. Agreement
  3. Agreement
  4. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Unitil Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$55
Price used
$55.96close November 3, 2026
Implied change
▼ 3%
Uncertainty
Low

How we got here: the combined value of 5 valuation models built for a business like Unitil Corp (see the models table below and how they are combined) , with a 7% cost of equity. The models span ~$45–~$62; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Unitil Corp as an utility or power producer, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.44 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$62 ~$52–$78 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$52 ~$52–$71 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$53 ~$43–$71 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$45 ~$31–$67 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$52 ~$42–$70 Included
Combined value Weighted average of the models that apply: the primary model (utility earnings model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$55 ~$45–$62 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Unitil Corp with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$25.48$33.33$34.57$39.57$49.58$36.72$39.40$45.33$47.88$50.91$47.13$56.44
Market value$355m$467m$487m$587m$739m$549m$606m$725m$769m$820m$791m$1.0bn
+ Net debt (− = net cash)$356m$410m$436m$481m$510m$580m$564m$603m$670m$743m$911m$976m
Enterprise value$711m$876m$923m$1.1bn$1.2bn$1.1bn$1.2bn$1.3bn$1.4bn$1.6bn$1.7bn$2.0bn
Multiples
Price / sales 0.8x1.2x1.2x1.3x1.7x1.3x1.3x1.3x1.4x1.7x1.5x1.7x
Price / earnings 13.5x17.2x16.8x17.8x16.7x17.1x16.8x17.5x17.0x17.4x15.8x18.3x
Price / free cash flow 31.7x———————————
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

27 /100

Weak moat

How hard Unitil's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 1 / 20

    Net income has been a median 2.5% of total assets over 10 years.

  • Durability 15 / 20

    Operating margin has been a median 17.1%; its worst year was 14.4%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 10 years, at a median -6.6% of revenue.

  • Discipline 6 / 20

    The diluted share count rose 18.3% over five years.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.31 — $625m +17%
Next $3.51 +6% $605m −3%

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.26 $0.26 −1.3%
Mar 2026 $1.86 $1.85 −0.5%
Dec 2025 $0.99 $1.08 +9.1%
Sept 2025 −$0.03 $0.03 +200.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

3 analysts, Oct 2026
Buy00%
Hold3100%
Sell00%

Monthly trend

  1. Oct 202633
  2. Sep 202633
  3. Aug 202633
  4. Jul 202633

Counts of recommendations published by analysts covering Unitil Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.8%
of tradable shares
Days to cover
4.73
at average volume
Short interest, 1 month
+0%
to October 15, 2026
Held by institutions
87%
of shares
Held by insiders
2.2%
of shares
Employees
614
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +20.1%

$46.99 on October 31, 2025 to $56.44

ThenNowEffect
Revenue (last 12 months) $494m $597m +20.8%
Net margin 9.5% 9.5% −0.5%
P/E multiple 16.1x 17.6x +9.2%
Share count 16m 18m −8.5%

Biggest factor: revenue.

Last 3 years +31.7%

$42.86 on November 3, 2023 to $56.44

ThenNowEffect
Revenue (last 12 months) $595m $597m +0.2%
Net margin 7.3% 9.5% +30.5%
P/E multiple 15.8x 17.6x +11.1%
Share count 16m 18m −9.3%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
UTL+7%+15%+6%+6%−7%+20%
Industry peers (median)+10%+3%−3%+14%+14%+8%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
UTL42%58%58%50%50%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
UTL−28%−25%−28%−13%−24%−11%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 48% from February 14, 2020 to November 6, 2020. Getting back needed a 94% gain, reached on July 1, 2022, 602 days after the low.

Price behaviour

52-week range
$45.85 – $56.44
From 52-week high
0.0%
vs 50-day average
+6.5%
vs 200-day average
+8.7%
Volatility (1 year)
20%
Beta vs S&P 500
-0.25

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Options strategies

All options ideas

How Unitil Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Unitil Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Unitil Corp
$450M $500M $550M $600M $650M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $557.1M Revenue (TTM), FY24 Q1: $515.6M Revenue (TTM), FY24 Q2: $507.9M Revenue (TTM), FY24 Q3: $496.9M Revenue (TTM), FY24 Q4: $494.8M Revenue (TTM), FY25 Q1: $486.9M Revenue (TTM), FY25 Q2: $493.8M Revenue (TTM), FY25 Q3: $502M Revenue (TTM), FY25 Q4: $536M Revenue (TTM), FY26 Q1: $582.1M Revenue (TTM), FY26 Q2: $596.5M Revenue (TTM), FY26 Q3: $608M $608M

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $557.1M
FY24 Q1 $515.6M
FY24 Q2 $507.9M
FY24 Q3 $496.9M
FY24 Q4 $494.8M
FY25 Q1 $486.9M
FY25 Q2 $493.8M
FY25 Q3 $502M
FY25 Q4 $536M
FY26 Q1 $582.1M
FY26 Q2 $596.5M
FY26 Q3 $608M
Revenue growth, TTM YoY Unitil Corp
-20% -10% 0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -1.1% Revenue growth, TTM YoY, FY24 Q1: -12.7% Revenue growth, TTM YoY, FY24 Q2: -14.7% Revenue growth, TTM YoY, FY24 Q3: -15.6% Revenue growth, TTM YoY, FY24 Q4: -11.2% Revenue growth, TTM YoY, FY25 Q1: -5.6% Revenue growth, TTM YoY, FY25 Q2: -2.8% Revenue growth, TTM YoY, FY25 Q3: 1.0% Revenue growth, TTM YoY, FY25 Q4: 8.3% Revenue growth, TTM YoY, FY26 Q1: 19.6% Revenue growth, TTM YoY, FY26 Q2: 20.8% Revenue growth, TTM YoY, FY26 Q3: 21.1% 21.1%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -1.1%
FY24 Q1 -12.7%
FY24 Q2 -14.7%
FY24 Q3 -15.6%
FY24 Q4 -11.2%
FY25 Q1 -5.6%
FY25 Q2 -2.8%
FY25 Q3 1.0%
FY25 Q4 8.3%
FY26 Q1 19.6%
FY26 Q2 20.8%
FY26 Q3 21.1%
Operating margin (TTM) Unitil Corp
15% 16% 17% 18% 19% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 15.6% Operating margin (TTM), FY24 Q1: 17.8% Operating margin (TTM), FY24 Q2: 18.2% Operating margin (TTM), FY24 Q3: 18.2% Operating margin (TTM), FY24 Q4: 18.3% Operating margin (TTM), FY25 Q1: 19.0% Operating margin (TTM), FY25 Q2: 18.9% Operating margin (TTM), FY25 Q3: 18.9% Operating margin (TTM), FY25 Q4: 18.9% Operating margin (TTM), FY26 Q1: 19.1% Operating margin (TTM), FY26 Q2: 18.9% Operating margin (TTM), FY26 Q3: 18.6% 18.6%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 15.6%
FY24 Q1 17.8%
FY24 Q2 18.2%
FY24 Q3 18.2%
FY24 Q4 18.3%
FY25 Q1 19.0%
FY25 Q2 18.9%
FY25 Q3 18.9%
FY25 Q4 18.9%
FY26 Q1 19.1%
FY26 Q2 18.9%
FY26 Q3 18.6%
FCF margin (TTM) Unitil Corp
-15% -10% -5% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -6.1% FCF margin (TTM), FY24 Q1: -4.0% FCF margin (TTM), FY24 Q2: -3.8% FCF margin (TTM), FY24 Q3: -6.2% FCF margin (TTM), FY24 Q4: -8.9% FCF margin (TTM), FY25 Q1: -6.3% FCF margin (TTM), FY25 Q2: -8.5% FCF margin (TTM), FY25 Q3: -9.9% FCF margin (TTM), FY25 Q4: -10.0% FCF margin (TTM), FY26 Q1: -9.6% FCF margin (TTM), FY26 Q2: -7.6% FCF margin (TTM), FY26 Q3: -6.6% -6.6%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -6.1%
FY24 Q1 -4.0%
FY24 Q2 -3.8%
FY24 Q3 -6.2%
FY24 Q4 -8.9%
FY25 Q1 -6.3%
FY25 Q2 -8.5%
FY25 Q3 -9.9%
FY25 Q4 -10.0%
FY26 Q1 -9.6%
FY26 Q2 -7.6%
FY26 Q3 -6.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Unitil took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $536M
  2. Other operating costs $435M · 81.1%
  3. Operating income $101M · 18.9%
  4. Income tax $15.3M · 2.9%
  5. Interest and other $35.7M · 6.7%
  6. Net income $50.2M · 9.4%

Shares of revenue. Source: Unitil's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 367 358 353 353 367 426 427 383 406 444 438 419 473 563 557 495 536 608
Operating income 26 28 47 48 54 60 63 70 75 71 73 71 78 81 87 91 101 113
Net income 10 10 16 18 22 25 26 27 29 33 44 32 36 41 45 47 50 55
Diluted EPS $1.03 $0.88 $1.50 $1.43 $1.57 $1.79 $1.89 $1.94 $2.06 $2.23 $2.97 $2.15 $2.35 $2.59 $2.82 $2.93 $2.97 $3.09
Growth (year on year)
Revenue +27.3% −2.3% −1.6% +0.1% +3.9% +16.1% +0.2% −10.2% +5.9% +9.3% −1.3% −4.5% +13.1% +19.0% −1.1% −11.2% +8.3% +21.1%
Operating income +27.3% +7.3% +68.6% +0.6% +12.6% +12.1% +5.2% +11.3% +7.4% −5.6% +2.7% −2.3% +9.0% +3.5% +8.2% +4.0% +11.7% +19.1%
Net income +3.1% −4.0% +70.8% +11.0% +18.7% +14.4% +6.5% +3.0% +7.0% +13.8% +33.9% −27.1% +12.1% +14.7% +9.2% +4.2% +6.6% +18.4%
Diluted EPS — −14.6% +70.5% −4.7% +9.8% +14.0% +5.6% +2.6% +6.2% +8.3% +33.2% −27.6% +9.3% +10.2% +8.9% +3.9% +1.4% +8.1%
Margins
Operating margin 7.1% 7.8% 13.4% 13.5% 14.6% 14.1% 14.8% 18.3% 18.6% 16.0% 16.7% 17.1% 16.4% 14.3% 15.6% 18.3% 18.9% 18.6%
Net margin 2.7% 2.7% 4.6% 5.2% 5.9% 5.8% 6.2% 7.1% 7.1% 7.4% 10.1% 7.7% 7.6% 7.4% 8.1% 9.5% 9.4% 9.1%
Free-cash-flow margin −2.1% −6.6% −3.2% −0.5% 1.9% −2.0% 2.6% −7.8% −8.1% −5.4% −3.3% −11.2% −1.5% −4.3% −6.1% −8.9% −10.0% −6.6%
Cash flow
Cash from operations 51 26 46 67 96 84 115 68 86 79 105 76 108 98 107 126 131 162
Capital spending 59 50 57 69 90 93 104 98 119 102 119 123 115 122 141 170 185 202
Free cash flow −8 −24 −11 −2 7 −9 11 −30 −33 −24 −14 −47 −7 −24 −34 −44 −54 −40
Stock-based pay 0 0 1 — — — — — — — — — — — — — — —
Free cash flow after stock pay −8 −24 −12 — — — — — — — — — — — — — — —
Balance sheet
Cash 8 9 8 10 9 8 9 6 9 8 5 6 7 9 7 6 16 13
Total debt 314 — 376 337 348 362 365 416 444 489 516 586 570 612 676 749 926 989
Net debt (negative = net cash) 306 −9 369 327 338 354 356 410 436 481 510 580 564 603 670 743 911 976
Diluted shares 10m 11m 11m 13m 14m 14m 14m 14m 14m 15m 15m 15m 15m 16m 16m 16m 17m 18m
Returned to shareholders
Dividends 13 15 15 17 19 19 20 20 20 22 22 23 24 25 26 28 30 34
Total returned 13 15 15 17 19 19 20 20 20 22 22 23 24 25 26 28 30 34

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 5 checks passed · September 30, 2026
What it owns · $2.3bn
Short-term assets $199mLonger-term assets $2.1bn
What it owes, and who funded it · $1.0bn
Short-term liabilities $395mShareholders' equity $641m
  • Short-term assets cover short-term liabilities $199m of assets due within a year against $395m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $13m of cash against $745m of debt.
  • Debt below 40% of shareholders' equity Debt is 116% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 107% to 116% over five years.
  • A year's operating cash flow covers at least 20% of debt $162m of operating cash flow against $745m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Unitil Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$33.8M
Returned to shareholders
-85%
of free cash flow
Diluted share count
+9.5%
year over year
Total shareholder yield
3.3%
dividends 3.3% + buybacks 0.0% of market value
Dividend payout ratio
61%
of net income paid out
Days sales outstanding
43 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in multi-utilities
Last 12 months unless stated UTL NWE MDU AVA BKH PNW Median
Revenue, last 12 months $608m $1.7bn $1.8bn $1.9bn $2.3bn $5.6bn $9.0bn
Revenue growth, last 12 months 21.1% 10.7% −1.1% −1.8% 2.5% 5.7% 7.8%
Revenue growth, 3-year average 1.1% 4.0% −5.2% 3.6% −3.8% 6.9% 2.3%
Revenue growth, latest quarter 11.4% 14.6% 6.9% 0.5% 3.1% 7.1% 6.6%
Operating margin 18.6% 18.8% 17.0% 18.8% 23.9% 20.5% 20.4%
Operating margin, 3-year average 18.5% 21.1% 35.5% 17.1% 23.6% 19.8% 20.4%
Net margin 9.1% 10.1% 10.7% 11.8% 13.0% 11.5% 11.8%
Cash from operations / revenue 26.7% 24.6% 22.1% 28.5% 27.3% 31.9% 28.8%
Free-cash-flow margin −6.6% −11.4% −21.1% −5.4% −13.3% −15.8% −13.3%
Free-cash-flow margin, 3-year average −7.6% −9.6% 6.9% −3.8% −3.3% −14.9% −7.6%
Stock pay / revenue — 0.4% 0.4% 0.6% 0.5% 0.5% 0.5%
Change in share count 9.5% 0.3% 1.2% 2.8% 4.8% 3.9% 2.2%

Median of all 17 companies we cover in multi-utilities. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 multi-utilities companies
Measure Company Peer median Rank
Revenue growth Growth 21.1% 7.8% 1 of 17
Change in growth rate Growth +0.3pp -0.2pp 7 of 17
Operating margin Profitability 18.6% 20.5% 12 of 16
Net margin Profitability 9.1% 11.8% 16 of 17
Free-cash-flow margin Cash generation -6.6% -13.3% 7 of 17
Long-term debt as % of assets Balance sheet 32.3% 39.5% 3 of 16
Change in share count Balance sheet 9.5% 2.2% 17 of 17
Days sales outstanding Balance sheet 43 days 39 days 9 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Gas $300M 55.9% ▲ 21.5%
Electric $236M 44.1% ▼ 4.8%
Products and services
Line of business Revenue Share YoY
Gas $300M 55.9% ▲ 21.5%
Electric $236M 44.1% ▼ 4.8%

From Unitil Corp's 10-K filed February 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$810M
Institutions reporting
242
Shares held vs prior quarter
▲ 4.5%
Positions opened / closed
31 / 27

Top buyers and sellers, Q2 2026: 128 institutions bought and 97 sold ; the biggest buyer was Bragg Financial Advisors, Inc (+244K shares) and the biggest seller Wellington Management Group LLP (−111K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $152M 2.9M 18.8% ▲ 2.1%
Vanguard Capital Management LLC $42.3M 803K 5.2% ▼ 0.8%
State Street Corp $41.2M 782K 5.1% ▲ 6.4%
Frontier Capital Management Co LLC $29.2M 553K 3.6% ▲ 0.8%
Manufacturers Life Insurance Company, The $26.9M 510K 3.3% ▼ 0.2%
Vanguard Portfolio Management LLC $26.7M 507K 3.3% ▼ 0.2%
Wellington Management Group LLP $25.9M 491K 3.2% ▼ 18.4%
Jpmorgan Chase & Co $25.3M 476K 3.1% ▼ 2.1%
Geode Capital Management, LLC $24.6M 467K 3.0% ▲ 8.0%
Morgan Stanley $21.7M 412K 2.7% ▲ 38.6%
Renaissance Technologies LLC $21.5M 408K 2.7% ▼ 16.8%
Two Sigma Investments, LP $18M 342K 2.2% ▲ 25.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Unitil Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • January 28, 2015
  • February 5, 2010
  • February 6, 2009
  • July 25, 2008
  • January 31, 2008

Recent SEC filings

Data status

When each part of this page on Unitil Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Unitil Corp in brief

What does Unitil Corp do?
Unitil Corp is a US-listed company in the multi-utilities industry. Its financial year ends in December.
What is Unitil Corp's stock ticker?
Unitil Corp trades under the ticker UTL on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Unitil Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Unitil Corp reported revenue of $608M, 21.1% higher than a year earlier, according to its SEC filings.
What is Unitil Corp's free cash flow?
Unitil Corp's free-cash-flow margin is -6.6% of revenue over the trailing twelve months, ranking 7 of the 17 multi-utilities companies we cover.
Who are Unitil Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Unitil Corp's market cap?
On November 2, 2026, Unitil Corp's market capitalisation was about $1B, with a price-to-earnings ratio of 18.3 and net debt of $976M. Market figures come from third-party market data and may be delayed.
Does Unitil Corp pay a dividend?
Yes: Unitil Corp paid $33.8M in dividends over the trailing twelve months, a dividend yield of 3.26% and a payout ratio of 61.0%.
How much debt does Unitil Corp have?
Unitil Corp's debt-to-equity ratio is 116.3%, from its latest balance sheet (106.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are Unitil Corp's competitors?
In our Multi-Utilities peer group, the companies closest to Unitil Corp are Northwestern Energy Group, Inc., MDU Resources Group Inc, Avista Corp, Black Hills Corp and Pinnacle West Capital. The side-by-side comparison below sets their revenue, margins and growth against Unitil Corp's.