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Essential Utilities, Inc. (WTRG) stock

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NYSE: WTRG NYSE Water Utilities Next results ~November 3, 2026

C+ Fundamentals grade

Essential Utilities, Inc. is a US-listed company in the water 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

Under review: after-tax interest is 49% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 49% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Essential Utilities, Inc. 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.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds323 adding, 299 cuttingOf 54 active managers that changed their stake, 36 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Essential Utilities files

Where Essential Utilities stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.57bn, up 9.9% on a year earlier, slower than 13.1% a quarter earlier. Free-cash-flow margin held at 40.0%. Operating margin narrowed to 35.1% from 38.7%. The diluted share count is up 2.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 0 of our 6 financial-health checks. At that price, our model says the market is pricing in about 5.4% a year of cash-flow growth for five years, close to the 6.5% a year revenue growth it has delivered.

Our model value for Essential Utilities is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

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

Next results ~November 3, 2026 (estimated)

Essential Utilities, Inc.'s trailing-twelve-month revenue grew 9.9% year on year, with a free-cash-flow margin of 22.9%. Where it stands out: free-cash-flow margin of 22.9% ranks 1 of 12 water utilities companies we cover. Where it lags: long-term debt as % of assets of 42.2% ranks 11 of 12 water utilities companies we cover.

Our discounted-cash-flow model values the business at ~$31 per share in the base case (~$16–$51 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 12.5% while net income fell 14.1%: a 27pp divergence.

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

  • High operating margin. 35.1% of revenue is left as operating profit, against a median of 30.5% for water utilities companies we cover.
  • Strong cash generation. 22.9% of revenue turned into free cash flow, against a median of 13.8% for water utilities companies we cover.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Margins narrowing. Operating margin is down 3.7 points on a year ago.
  • Share dilution. Diluted shares rose 2.5% in a year.
  • High debt. Long-term debt exceeds cash by $8.4bn, more than 1.5 times annual revenue.
  • Growth easing. The growth rate is 3.2 points lower than a quarter earlier.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 42.2% ranks 11 of 12 water utilities companies we cover (median 26.9%).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.37 against an average estimate of $0.39: missed by 3.9%
Revenue
$531m, up 3.1% on a year earlier
Share reaction
+0.8% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
regulated infrastructure investments $1.7bn (2026); long-term earnings per share CAGR growth 5% to 7% (the three-year period through 2027)
Next report
November 3, 2026; average EPS estimate $0.34

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

Price chart

  • 1 day-0.8%
  • 1 week+3.4%
  • 1 month+11.9%
  • This year+19.1%
  • 1 year+20.0%
  • 5 years+9.5%
  • 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)
$2.6B
Operating margin
35.1%
Net margin
21.6%
EPS (TTM, diluted)
$1.96

Growth

Revenue growth
+9.9%
Change in growth rate
−3.2 pts
Share count change
+2.5%

Cash

Free cash flow (TTM)
$589M
FCF margin
22.9%
Stock pay % of revenue
0.5%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

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

  1. Announcement
  2. Announcement
  3. Announcement
  4. Results
  5. Guidance

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

Essential Utilities, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 49% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Essential Utilities, Inc. 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 0.4 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$40 ~$33–$51 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$37 ~$37–$46 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$37 ~$30–$49 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$31 ~$22–$47 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$36 ~$29–$48 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Essential Utilities, Inc. 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$22.35$23.07$30.86$27.57$38.71$39.84$46.24$42.10$33.94$34.11$37.32$44.44
Market value$4.0bn$4.1bn$5.5bn$4.9bn$8.4bn$10.1bn$11.9bn$11.1bn$9.1bn$9.4bn$10.5bn$12.6bn
+ Net debt (− = net cash)$1.8bn$2.1bn$2.3bn$2.7bn$1.3bn$5.7bn$6.1bn$6.8bn$6.9bn$7.5bn$8.1bn$8.5bn
Enterprise value$5.8bn$6.2bn$7.8bn$7.6bn$9.7bn$15.9bn$18.0bn$17.9bn$16.0bn$16.9bn$18.6bn$21.1bn
Multiples
Price / sales 4.9x5.0x6.8x5.9x9.4x6.9x6.4x4.8x4.4x4.5x4.2x4.9x
Price / earnings 19.7x17.5x22.9x25.6x37.2x35.6x27.7x23.8x18.2x15.7x17.0x22.7x
Price / free cash flow n/mn/m——24.7x20.0x18.5x18.4x9.7x12.2x10.4x12.3x
EV / EBITDA 12.8x13.2x16.5x16.2x19.5x22.9x20.0x18.2x15.5x15.0x13.9x15.8x

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

66 /100

Moderate moat

How hard Essential Utilities'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 2 / 20

    Net income has been a median 3.0% of total assets over 10 years.

  • Durability 20 / 20

    Operating margin has been a median 35.3%; its worst year was 29.4%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 8 of 10 years, at a median 20.2% of revenue.

  • Discipline 13 / 20

    The diluted share count rose 11.2% over five years; stock-based pay has been a median 0.5% of revenue.

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

Next results: November 3, 2026, after the close. Analysts expect EPS of $0.34 (range $0.34 to $0.35) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.24 +2% $2.5bn −0%
Next $2.38 +6% $2.7bn +7%

Next year's EPS estimate has moved +0.1% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.3% on 90 days ago. In the last 30 days, 2 analysts raised Essential Utilities, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Essential Utilities, Inc., last 90 days
$2.20 $2.25 $2.30 $2.35 $2.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.25 Current fiscal year, 60 days ago: $2.22 Current fiscal year, 30 days ago: $2.22 Current fiscal year, 7 days ago: $2.23 Current fiscal year, Now: $2.24 $2.24 Next fiscal year, 90 days ago: $2.38 Next fiscal year, 60 days ago: $2.38 Next fiscal year, 30 days ago: $2.38 Next fiscal year, 7 days ago: $2.38 Next fiscal year, Now: $2.38 $2.38

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.25$2.38
60 days ago $2.22$2.38
30 days ago $2.22$2.38
7 days ago $2.23$2.38
Now $2.24$2.38

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.39 $0.37 −3.9%
Mar 2026 $0.87 $0.83 −4.9%
Dec 2025 $0.40 $0.47 +17.2%
Sept 2025 $0.28 $0.33 +15.9%

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

Management guidance

Earnings release, August 5, 2026
  • long-term earnings per share CAGR the three-year period through 2027 5% growth to 7% growth Non-GAAP Maintained
    “Anticipated growth in long-term earnings per share at a compound annual growth rate of 5% to 7% from the adjusted 2024 earnings per share of $1.97 (non-GAAP) for the three-year period through 2027.” source
  • regulated infrastructure investments 2026 about $1.7bn Maintained
    “In 2026, regulated infrastructure investments are expected to be $1.7 billion.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

7 analysts, Oct 2026
Buy229%
Hold343%
Sell229%

Monthly trend

  1. Oct 20262327
  2. Sep 20262327
  3. Aug 20262327
  4. Jul 20262417

Counts of recommendations published by analysts covering Essential Utilities, Inc., 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
3.0%
of tradable shares
Days to cover
2.88
at average volume
Short interest, 1 month
−1%
to October 15, 2026
Held by institutions
83%
of shares
Held by insiders
0.2%
of shares
Employees
3,303
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 +18.1%

$37.64 on October 31, 2025 to $44.44

ThenNowEffect
Revenue (last 12 months) $2.3bn $2.6bn +9.9%
Net margin 27.6% 21.6% −21.8%
P/E multiple 16.1x 22.7x +40.8%
Share count 277m 283m −2.4%

Biggest factor: p/e multiple.

Last 3 years +37.8%

$32.26 on November 3, 2023 to $44.44

ThenNowEffect
Revenue (last 12 months) $2.3bn $2.6bn +11.5%
Net margin 20.2% 21.6% +6.7%
P/E multiple 18.3x 22.7x +24.3%
Share count 264m 283m −6.9%

Biggest factor: p/e multiple.

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
WTRG+16%−9%−19%+1%+9%+19%
Industry peers (median)+25%−14%−12%−11%+0%+11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
WTRG67%42%33%42%50%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
WTRG−14%−25%−32%−12%−11%−12%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 40% from February 18, 2020 to March 23, 2020. Getting back needed a 66% gain, reached on December 22, 2021, 639 days after the low.

Price behaviour

52-week range
$35.92 – $44.44
From 52-week high
0.0%
vs 50-day average
+8.8%
vs 200-day average
+13.9%
Volatility (1 year)
22%
Beta vs S&P 500
-0.48

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.

Share price after results

Next day
7 up, 5 down
typical move ±2.7%
After a week
8 up, 4 down
typical move ±2.6%
After a month
8 up, 4 down
typical move ±3.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +0.8% −0.4% +1.7% +6.8%
May 7, 2026 −0.2% +0.5% +0.8% −1.5%
February 26, 2026 +0.2% −1.0% −0.8% +1.1%
November 5, 2025 +2.9% −0.7% +2.7% −0.2%
August 1, 2025 +4.2% −0.1% +5.4% +6.5%
May 12, 2025 −7.4% +4.0% −3.1% −5.7%
February 27, 2025 +1.3% −0.1% +2.5% +4.7%
November 5, 2024 +4.5% +3.7% +1.9% +2.6%
August 6, 2024 −1.9% +0.2% −1.9% −2.5%
May 3, 2024 +1.6% +2.3% +5.0% +1.7%
February 23, 2024 −5.3% −0.3% −3.5% +0.7%
November 7, 2023 −2.2% +0.4% +1.3% +3.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Essential Utilities, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

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) Essential Utilities, Inc.
$1.8B $2B $2.2B $2.4B $2.6B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2.3B Revenue (TTM), FY23 Q4: $2.1B Revenue (TTM), FY24 Q1: $1.9B Revenue (TTM), FY24 Q2: $1.9B Revenue (TTM), FY24 Q3: $2B Revenue (TTM), FY24 Q4: $2.1B Revenue (TTM), FY25 Q1: $2.3B Revenue (TTM), FY25 Q2: $2.3B Revenue (TTM), FY25 Q3: $2.4B Revenue (TTM), FY25 Q4: $2.5B Revenue (TTM), FY26 Q1: $2.6B Revenue (TTM), FY26 Q2: $2.6B $2.6B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2.3B
FY23 Q4 $2.1B
FY24 Q1 $1.9B
FY24 Q2 $1.9B
FY24 Q3 $2B
FY24 Q4 $2.1B
FY25 Q1 $2.3B
FY25 Q2 $2.3B
FY25 Q3 $2.4B
FY25 Q4 $2.5B
FY26 Q1 $2.6B
FY26 Q2 $2.6B
Revenue growth, TTM YoY Essential Utilities, Inc.
-20% -10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 7.6% Revenue growth, TTM YoY, FY23 Q4: -10.2% Revenue growth, TTM YoY, FY24 Q1: -16.2% Revenue growth, TTM YoY, FY24 Q2: -15.9% Revenue growth, TTM YoY, FY24 Q3: -14.0% Revenue growth, TTM YoY, FY24 Q4: 1.6% Revenue growth, TTM YoY, FY25 Q1: 16.4% Revenue growth, TTM YoY, FY25 Q2: 20.7% Revenue growth, TTM YoY, FY25 Q3: 21.4% Revenue growth, TTM YoY, FY25 Q4: 18.6% Revenue growth, TTM YoY, FY26 Q1: 13.1% Revenue growth, TTM YoY, FY26 Q2: 9.9% 9.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 7.6%
FY23 Q4 -10.2%
FY24 Q1 -16.2%
FY24 Q2 -15.9%
FY24 Q3 -14.0%
FY24 Q4 1.6%
FY25 Q1 16.4%
FY25 Q2 20.7%
FY25 Q3 21.4%
FY25 Q4 18.6%
FY26 Q1 13.1%
FY26 Q2 9.9%
Operating margin (TTM) Essential Utilities, Inc.
30% 35% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 30.2% Operating margin (TTM), FY23 Q4: 33.7% Operating margin (TTM), FY24 Q1: 36.0% Operating margin (TTM), FY24 Q2: 35.5% Operating margin (TTM), FY24 Q3: 35.9% Operating margin (TTM), FY24 Q4: 36.3% Operating margin (TTM), FY25 Q1: 38.4% Operating margin (TTM), FY25 Q2: 38.7% Operating margin (TTM), FY25 Q3: 38.7% Operating margin (TTM), FY25 Q4: 37.2% Operating margin (TTM), FY26 Q1: 35.0% Operating margin (TTM), FY26 Q2: 35.1% 35.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 30.2%
FY23 Q4 33.7%
FY24 Q1 36.0%
FY24 Q2 35.5%
FY24 Q3 35.9%
FY24 Q4 36.3%
FY25 Q1 38.4%
FY25 Q2 38.7%
FY25 Q3 38.7%
FY25 Q4 37.2%
FY26 Q1 35.0%
FY26 Q2 35.1%
FCF margin (TTM) Essential Utilities, Inc.
15% 20% 25% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 24.1% FCF margin (TTM), FY23 Q4: 28.7% FCF margin (TTM), FY24 Q1: 21.8% FCF margin (TTM), FY24 Q2: 19.8% FCF margin (TTM), FY24 Q3: 19.9% FCF margin (TTM), FY24 Q4: 19.2% FCF margin (TTM), FY25 Q1: 19.9% FCF margin (TTM), FY25 Q2: 22.4% FCF margin (TTM), FY25 Q3: 22.9% FCF margin (TTM), FY25 Q4: 24.0% FCF margin (TTM), FY26 Q1: 21.4% FCF margin (TTM), FY26 Q2: 22.9% 22.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 24.1%
FY23 Q4 28.7%
FY24 Q1 21.8%
FY24 Q2 19.8%
FY24 Q3 19.9%
FY24 Q4 19.2%
FY25 Q1 19.9%
FY25 Q2 22.4%
FY25 Q3 22.9%
FY25 Q4 24.0%
FY26 Q1 21.4%
FY26 Q2 22.9%

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

Where the money goes

FY2025, from the 10-K

Each dollar Essential Utilities 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 $2.5B
  2. Other operating costs $1.6B · 62.8%
  3. Operating income $921M · 37.2%
  4. Interest and other $301M · 12.2%
  5. Net income $616M · 24.9%

Shares of revenue. Source: Essential Utilities'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 Jun 2026
Income
Revenue 610 654 681 751 762 780 814 820 810 838 890 1,463 1,878 2,288 2,054 2,086 2,475 2,569
EBITDA 339 369 389 434 426 441 450 466 471 470 497 692 901 982 1,036 1,127 1,338 1,339
Operating income 228 257 281 318 302 314 321 333 334 323 340 435 603 661 692 758 921 901
Net income 104 124 143 197 221 233 202 234 240 192 225 285 432 465 498 595 616 555
Diluted EPS $0.49 $0.58 $0.83 $1.12 $1.25 $1.31 $1.14 $1.32 $1.35 $1.08 $1.04 $1.12 $1.67 $1.77 $1.86 $2.17 $2.20 $1.96
Growth (year on year)
Revenue +6.4% +7.2% +4.1% +10.3% +1.5% +2.4% +4.4% +0.7% −1.3% +3.5% +6.2% +64.4% +28.4% +21.8% −10.2% +1.6% +18.6% +9.9%
EBITDA +6.0% +8.7% +5.4% +11.5% −1.9% +3.6% +2.0% +3.7% +0.9% −0.2% +5.7% +39.3% +30.2% +9.1% +5.4% +8.8% +18.7% +3.2%
Operating income +1.1% +12.7% +9.1% +13.1% −5.0% +4.2% +2.1% +3.8% +0.2% −3.2% +5.3% +27.8% +38.7% +9.7% +4.7% +9.5% +21.6% −0.6%
Net income +6.6% +18.8% +15.4% +37.4% +12.6% +5.4% −13.5% +16.1% +2.4% −19.9% +17.0% +26.9% +51.5% +7.8% +7.1% +19.5% +3.5% −14.1%
Diluted EPS −16.4% +18.0% +44.1% +34.9% +11.6% +4.8% −13.0% +15.8% +2.3% −20.0% −3.7% +7.7% +49.1% +6.0% +5.1% +16.7% +1.4% −16.2%
Margins
EBITDA margin 55.6% 56.4% 57.2% 57.8% 55.9% 56.5% 55.2% 56.9% 58.1% 56.1% 55.8% 47.3% 48.0% 42.9% 50.4% 54.0% 54.1% 52.1%
Operating margin 37.4% 39.4% 41.3% 42.3% 39.6% 40.3% 39.4% 40.7% 41.2% 38.6% 38.2% 29.7% 32.1% 28.9% 33.7% 36.3% 37.2% 35.1%
Net margin 17.1% 19.0% 21.0% 26.2% 29.0% 29.9% 24.8% 28.6% 29.6% 22.9% 25.2% 19.5% 23.0% 20.3% 24.3% 28.5% 24.9% 21.6%
Free-cash-flow margin −1.4% −6.6% 6.2% 2.8% 7.6% 4.7% 0.7% 1.6% −12.0% −15.2% 38.0% 34.7% 34.3% 26.2% 45.5% 36.9% 40.8% 40.0%
Cash flow
Cash from operations 258 263 367 368 366 365 371 396 381 369 339 508 645 600 934 770 1,010 1,028
Capital spending 266 306 324 347 308 329 365 383 478 496 0 0 0 0 0 0 0 0
Free cash flow −8 −43 42 21 58 36 6 13 −97 −127 339 508 645 600 934 770 1,010 1,028
Stock-based pay 4 4 4 6 5 7 6 5 6 8 7 8 10 12 11 10 13 13
Free cash flow after stock pay −12 −47 39 16 53 29 0 8 −103 −135 331 500 635 588 922 761 998 1,014
Balance sheet
Cash 22 6 8 6 5 4 3 4 4 4 1,869 5 11 11 5 9 35 9
Total debt 1,465 1,609 1,584 1,669 1,648 1,685 1,815 2,061 2,257 2,708 3,182 5,715 6,080 6,817 6,938 7,559 8,182 8,516
Net debt (negative = net cash) 1,443 1,603 1,575 1,664 1,643 1,680 1,812 2,058 2,253 2,705 1,314 5,710 6,069 6,805 6,933 7,550 8,147 8,508
Diluted shares 170m 172m 173m 175m 177m 178m 178m 178m 178m 178m 216m 255m 258m 263m 268m 274m 281m 283m
Returned to shareholders
Dividends 75 81 87 93 103 112 121 131 141 151 189 233 259 289 317 346 374 387
Buybacks 0 1 1 1 13 16 25 3 2 3 2 4 3 1 4 4 2 3
Total returned 75 82 88 95 116 128 146 134 143 153 190 237 262 290 321 350 376 390

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

0 of 6 checks passed · June 30, 2026
What it owns · $19.9bn
Short-term assets $465mLonger-term assets $19.5bn
What it owes, and who funded it · $7.6bn
Short-term liabilities $599mShareholders' equity $7.0bn
  • Short-term assets cover short-term liabilities $465m of assets due within a year against $599m 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 $9m of cash against $8.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 121% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 111% to 121% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.0bn of operating cash flow against $8.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $901m against $344m of interest.

From Essential Utilities, Inc.'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

FY2026 Q2 TTM
Buybacks (TTM)
$3M
Dividends (TTM)
$387M
Returned to shareholders
66%
of free cash flow
Buybacks, last 3 fiscal years
$10.3M
Diluted share count
+2.5%
year over year
Total shareholder yield
3.1%
dividends 3.1% + buybacks 0.0% of market value
Dividend payout ratio
70%
of net income paid out
Days sales outstanding
30 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in water utilities
Last 12 months unless stated WTRG AWK CWT SBS HTO AWR Median
Revenue, last 12 months $2.6bn $5.3bn $1.0bn $6.8bn $838m $697m $455m
Revenue growth, last 12 months 9.9% 5.4% 4.8% 1.3% 4.2% 13.2% 7.4%
Revenue growth, 3-year average 3.7% 8.9% 9.7% — 7.7% 6.4% 8.4%
Revenue growth, latest quarter 3.1% 4.1% 5.4% — 4.0% 11.2% 7.4%
Gross margin — — — 37.0% — 90.1% 49.5%
Operating margin 35.1% 37.0% 19.4% — 20.7% 31.8% 30.5%
Operating margin, 3-year average 36.4% 36.6% 21.1% — 22.2% 31.3% 28.6%
Net margin 21.6% 21.3% 13.5% 22.2% 12.5% 20.5% 20.9%
Cash from operations / revenue 40.0% 43.0% 30.5% 21.9% 29.6% 33.9% 33.3%
Free-cash-flow margin 22.9% −21.7% 16.5% 21.9% 13.8% 3.0% 8.4%
Free-cash-flow margin, 3-year average 21.7% −19.5% 17.8% 21.4% 12.3% −4.4% 2.5%
Stock pay / revenue 0.5% 0.4% 0.4% — 0.8% 0.5% 0.7%
Change in share count 2.5% 0.6% 1.7% 0.0% 16.7% 2.3% 2.4%

Median of all 12 companies we cover in water 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

12 water utilities companies
Measure Company Peer median Rank
Revenue growth Growth 9.9% 8.9% 4 of 12
Change in growth rate Growth -3.2pp +0.9pp 10 of 12
Operating margin Profitability 35.1% 30.5% 4 of 11
Net margin Profitability 21.6% 21.3% 5 of 12
Free-cash-flow margin Cash generation 22.9% 13.8% 1 of 12
Stock pay as % of revenue Cash generation 0.5% 0.8% 3 of 9
Long-term debt as % of assets Balance sheet 42.2% 26.9% 11 of 12
Change in share count Balance sheet 2.5% 2.3% 7 of 11
Days sales outstanding Balance sheet 30 days 32 days 5 of 11

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
Reportable Segment Aggregation Before Other Operating $2.4B 98.6% ▲ 18.4%
Water $1.3B 54.3% ▲ 8.6%
Natural Gas $1.1B 45.7% ▲ 32.6%
Other and Eliminations $33.5M 1.4% ▲ 40.7%
Products and services
Line of business Revenue Share YoY
Natural Gas $1.1B 45.9% ▲ 35.1%
Water $1.1B 44.6% ▲ 8.4%
Wastewater $223M 9.1% ▲ 11.7%
Other $10.9M 0.4% ▼ 2.6%

From Essential Utilities, Inc.'s 10-K filed February 26, 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
$8.6B
Institutions reporting
691
Shares held vs prior quarter
▲ 3.5%
Positions opened / closed
66 / 66

Top buyers and sellers, Q2 2026: 323 institutions bought and 299 sold ; the biggest buyer was Blackrock, Inc (+1.9M shares) and the biggest seller Nordea Investment Management AB (−2.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.3B 33.4M 14.9% ▲ 5.9%
Vanguard Portfolio Management LLC $626M 16.3M 7.3% ▼ 0.9%
State Street Corp $503M 13.1M 5.9% ▲ 5.5%
Vanguard Capital Management LLC $490M 12.8M 5.7% ▲ 1.0%
Norges Bank $249M 6.5M 2.9% —
Geode Capital Management, LLC $202M 5.3M 2.4% ▲ 1.1%
Nordea Investment Management AB $197M 5.1M 2.3% ▼ 31.6%
Amundi $166M 4.3M 1.9% ▼ 4.5%
Millennium Management LLC $159M 4.2M 1.9% ▲ 2.2%
AQR Arbitrage LLC $148M 3.9M 1.7% ▲ 23.0%
Legal & General Group PLC $134M 3.5M 1.6% ▲ 2.8%
Goldman Sachs Group Inc $130M 3.4M 1.5% ▲ 19.7%

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 Essential Utilities, Inc.'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 → $112,915 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $112,915 net selling
Insider Date Trade Shares Price Value
Arnold Colleen President - Aqua August 7, 2026 Sell 2,855 $39.55 $112,915

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.

Trades by members of Congress

All 8 trades and filings

No trades in Essential Utilities, Inc. disclosed in the last 12 months; 8 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 7, 2026
  • February 26, 2026
  • November 5, 2025
  • August 1, 2025
  • May 12, 2025

Recent SEC filings

Data status

When each part of this page on Essential Utilities, Inc. 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.

Essential Utilities, Inc. in brief

What does Essential Utilities, Inc. do?
Essential Utilities, Inc. is a US-listed company in the water utilities industry. Its financial year ends in December.
What is Essential Utilities, Inc.'s stock ticker?
Essential Utilities, Inc. trades under the ticker WTRG on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Essential Utilities, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Essential Utilities, Inc. reported revenue of $2.6B, 9.9% higher than a year earlier, according to its SEC filings.
What is Essential Utilities, Inc.'s free cash flow?
Essential Utilities, Inc.'s free-cash-flow margin is 22.9% of revenue over the trailing twelve months, ranking 1 of the 12 water utilities companies we cover.
Who are Essential Utilities, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio 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.
Is Essential Utilities, Inc. buying back stock, and does it pay a dividend?
Essential Utilities, Inc. spent $3M on share repurchases over the trailing twelve months, and its diluted share count still rose 2.5% over the year.
What is Essential Utilities, Inc.'s market cap?
On November 2, 2026, Essential Utilities, Inc.'s market capitalisation was about $12.6B, with a price-to-earnings ratio of 22.7 and net debt of $8.5B. Market figures come from third-party market data and may be delayed.
Does Essential Utilities, Inc. pay a dividend?
Yes: Essential Utilities, Inc. paid $387M in dividends over the trailing twelve months, a dividend yield of 3.07% and a payout ratio of 69.8%.
How much debt does Essential Utilities, Inc. have?
Essential Utilities, Inc.'s debt-to-equity ratio is 120.6%, from its latest balance sheet (111.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Essential Utilities, Inc.'s competitors?
In our Water Utilities peer group, the companies closest to Essential Utilities, Inc. are American Water Works, California Water Service Group, Companhia DE Saneamento Basico DO Estado DE SAO Paulo-sabesp, H2o America and American States Water Co. The side-by-side comparison below sets their revenue, margins and growth against Essential Utilities, Inc.'s.
Are insiders buying or selling Essential Utilities, Inc. stock?
Over the last 12 months, Essential Utilities, Inc.'s directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Essential Utilities, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Essential Utilities, Inc. announces its own schedule.