NYSE : WTRG
Essential Utilities, Inc. — Financial statements
Utilities · Utilities - Regulated Water · United States
Last price 43.52 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 12.35B
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Financial statements
Essential Utilities, Inc. (WTRG) reported revenue of 2.57B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.57B | 2.47B | 2.09B | 2.05B | 2.29B | 1.88B |
| Fuel & Purchased Power | 447.26M | 403.82M | 277.01M | 352.31M | 602.00M | 340.26M |
| Operations & Maintenance | 658.77M | 632.35M | 577.46M | 564.20M | 601.56M | 538.76M |
| Depreciation & Amortization | 423.57M | 403.19M | 363.91M | 338.65M | 315.81M | 292.19M |
| Amortization of Goodwill & Intangibles | 15.03M | 14.28M | 5.65M | 5.04M | 5.37M | 5.76M |
| Other Operating Expenses | 112.69M | 106.81M | 103.56M | 97.75M | 94.03M | 91.20M |
| Total Operating Expenses | 1.66B | 1.56B | 1.33B | 1.36B | 1.62B | 1.27B |
| Operating Income | 911.38M | 914.17M | 758.53M | 695.88M | 669.27M | 609.97M |
| Interest Expense | -343.62M | -329.08M | -302.47M | -283.36M | -238.12M | -207.71M |
| Interest Income | 3.29M | 1.70M | 3.32M | 3.40M | 3.67M | 2.38M |
| Net Interest Expense | -340.33M | -327.38M | -299.15M | -279.96M | -234.44M | -205.32M |
| Allowance for Borrowed Funds for Construction | 24.89M | 26.25M | 21.31M | 16.97M | 23.66M | 20.79M |
| Other Non-Operating Income (Expenses) | -1.32M | -1.10M | -593.00K | -1.75M | -7.69M | -5.02M |
| EBT Excluding Unusual Items | 594.62M | 611.95M | 480.10M | 431.13M | 450.81M | 420.42M |
| Total Merger & Restructuring Charges | -17.52M | |||||
| Gain (Loss) on Sale of Investments | -1.51M | 942.00K | 1.16M | 582.00K | -895.00K | 607.00K |
| Gain (Loss) on Sale of Assets | 1.77M | 1.32M | 92.22M | 65.00K | 991.00K | 976.00K |
| Legal Settlements | 12.35M | 5.60M | ||||
| Pretax Income | 584.12M | 619.81M | 573.48M | 431.78M | 450.91M | 422.00M |
| Income Tax Expense | 29.25M | 3.44M | -21.84M | -66.44M | -14.33M | -9.61M |
| Net Income | 554.87M | 616.37M | 595.31M | 498.23M | 465.24M | 431.61M |
| Net Income to Common | 554.87M | 616.37M | 595.31M | 498.23M | 465.24M | 431.61M |
| Shares Outstanding (Basic) | 282.89M | 280.05M | 273.91M | 267.17M | 262.25M | 257.49M |
| Shares Outstanding (Diluted) | 283.45M | 280.62M | 274.42M | 267.66M | 262.87M | 258.18M |
| EPS (Basic) | 1.96 | 2.20 | 2.17 | 1.86 | 1.77 | 1.68 |
| EPS (Diluted) | 1.96 | 2.20 | 2.17 | 1.86 | 1.77 | 1.67 |
| Free Cash Flow | -451.91M | -419.52M | -559.40M | -265.52M | -462.46M | -375.84M |
| Free Cash Flow Per Share | -1.59 | -1.50 | -2.04 | -0.99 | -1.76 | -1.46 |
| Dividend Per Share | 1.37 | 1.34 | 1.27 | 1.19 | 1.11 | 1.04 |
| Profit Margin | 21.60% | 24.91% | 28.54% | 24.26% | 20.33% | 22.98% |
| Free Cash Flow Margin | -17.59% | -16.95% | -26.82% | -12.93% | -20.21% | -20.01% |
| EBITDA | 1.35B | 1.33B | 1.13B | 1.04B | 990.45M | 907.92M |
| EBITDA Margin | 52.55% | 53.81% | 54.08% | 50.62% | 43.29% | 48.34% |
| D&A For EBITDA | 438.60M | 417.47M | 369.55M | 343.69M | 321.18M | 297.95M |
| EBIT | 911.38M | 914.17M | 758.53M | 695.88M | 669.27M | 609.97M |
| EBIT Margin | 35.48% | 36.94% | 36.36% | 33.88% | 29.25% | 32.48% |
| Effective Tax Rate | 5.01% | 0.56% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 8.63M | 34.78M | 9.16M | 4.61M | 11.40M | 10.57M |
| Accounts Receivable | 305.54M | 363.13M | 294.54M | 240.85M | 372.03M | 259.64M |
| Other Receivables | 21.15M | 14.29M | 4.89M | 4.80M | 1.28M | |
| Inventory | 95.71M | 112.45M | 93.93M | 112.67M | 199.74M | 109.56M |
| Prepaid Expenses | 28.88M | 59.11M | 41.14M | 99.88M | 39.76M | 36.60M |
| Other Current Assets | 26.54M | 19.78M | 32.85M | 29.08M | 30.44M | 20.15M |
| Total Current Assets | 465.31M | 610.40M | 485.91M | 491.98M | 658.16M | 437.80M |
| Property, Plant & Equipment | 14.77B | 14.29B | 13.17B | 12.13B | 11.17B | 10.30B |
| Regulatory Assets | 2.23B | 2.09B | 1.91B | 1.77B | 1.34B | 1.43B |
| Goodwill | 2.35B | 2.35B | 2.34B | 2.34B | 2.34B | 2.34B |
| Other Intangible Assets | 2.79M | 2.95M | 3.27M | 3.59M | 4.60M | 5.76M |
| Long-Term Investments | 5.12M | |||||
| Long-Term Deferred Charges | 84.68M | 87.59M | 81.39M | 75.95M | 141.69M | 113.38M |
| Other Long-Term Assets | 38.58M | 36.08M | 32.74M | 27.82M | 58.43M | 29.89M |
| Total Assets | 19.94B | 19.46B | 18.03B | 16.84B | 15.72B | 14.66B |
| Accounts Payable | 198.93M | 276.08M | 258.62M | 221.19M | 238.84M | 192.93M |
| Accrued Expenses | 258.31M | 244.40M | 201.97M | 172.64M | 168.42M | 157.11M |
| Short-Term Debt | 55.90M | 175.63M | 234.26M | 173.48M | 257.19M | 146.72M |
| Current Portion of Long-Term Debt | 42.31M | 21.82M | 142.81M | 67.42M | 199.36M | 132.15M |
| Current Portion of Leases | 6.66M | 7.59M | 7.36M | 9.32M | 7.84M | |
| Current Income Taxes Payable | 27.05M | 28.69M | 38.22M | 40.64M | 34.39M | 37.92M |
| Other Current Liabilities | 16.49M | 11.20M | 91.21M | 115.20M | 114.35M | 384.00K |
| Total Current Liabilities | 598.99M | 764.48M | 974.67M | 797.93M | 1.02B | 675.06M |
| Long-Term Debt | 8.42B | 8.11B | 7.37B | 6.83B | 6.37B | 5.78B |
| Long-Term Leases | 18.74M | 21.61M | 27.45M | 34.42M | 37.67M | 48.23M |
| Long-Term Unearned Revenue | 729.12M | 726.21M | 688.85M | 645.07M | 610.25M | 596.11M |
| Pension & Post-Retirement Benefits | 14.90M | 15.24M | 33.68M | 38.85M | 31.24M | 50.23M |
| Long-Term Deferred Tax Liabilities | 2.24B | 2.09B | 1.83B | 1.63B | 1.35B | 1.41B |
| Other Long-Term Liabilities | 899.43M | 879.56M | 902.86M | 974.60M | 923.87M | 918.16M |
| Total Liabilities | 12.92B | 12.61B | 11.83B | 10.95B | 10.34B | 9.47B |
| Common Stock | 143.63M | 143.25M | 139.10M | 138.30M | 133.49M | 128.05M |
| Additional Paid-In Capital | 4.55B | 4.52B | 4.20B | 4.14B | 3.79B | 3.71B |
| Retained Earnings | 2.42B | 2.28B | 1.95B | 1.71B | 1.53B | 1.43B |
| Treasury Stock | -93.50M | -90.98M | -89.62M | -86.48M | -83.69M | -83.61M |
| Shareholders' Equity | 7.02B | 6.86B | 6.20B | 5.90B | 5.38B | 5.18B |
| Total Liabilities & Equity | 19.94B | 19.46B | 18.03B | 16.84B | 15.72B | 14.66B |
| Total Debt | 8.54B | 8.34B | 7.78B | 7.11B | 6.87B | 6.11B |
| Net Cash (Debt) | -8.53B | -8.30B | -7.77B | -7.10B | -6.86B | -6.10B |
| Net Cash Per Share | -30.09 | -29.58 | -28.32 | -26.54 | -26.11 | -23.64 |
| Filing Date Shares Outstanding | 283.78M | 283.12M | 274.92M | 273.30M | 264.14M | 252.88M |
| Total Common Shares Outstanding | 283.77M | 283.08M | 274.82M | 273.30M | 263.74M | 252.87M |
| Working Capital | -133.68M | -154.09M | -488.76M | -305.95M | -363.71M | -237.27M |
| Book Value Per Share | 24.73 | 24.22 | 22.56 | 21.57 | 20.39 | 20.50 |
| Tangible Book Value | 4.67B | 4.51B | 3.85B | 3.55B | 3.03B | 2.84B |
| Tangible Book Value Per Share | 16.44 | 15.92 | 14.03 | 13.00 | 11.50 | 11.22 |
| Land | 158.84M | 146.67M | 147.89M | 137.81M | 120.76M | |
| Machinery | 8.95B | 8.36B | 7.93B | 7.38B | 6.98B | |
| Construction In Progress | 508.44M | 508.75M | 409.55M | 516.41M | 402.28M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 554.87M | 616.37M | 595.31M | 498.23M | 465.24M | 431.61M |
| Depreciation & Amortization | 438.60M | 417.47M | 369.55M | 343.69M | 321.18M | 297.95M |
| Loss (Gain) on Sale of Assets | -1.77M | -1.32M | -92.22M | -65.00K | -991.00K | |
| Loss (Gain) on Sale of Investments | -1.59M | |||||
| Stock-Based Compensation | 13.16M | 12.86M | 9.79M | 11.32M | 12.21M | 10.08M |
| Change in Accounts Receivable | -40.21M | -85.43M | -103.33M | 189.99M | -223.34M | -109.61M |
| Change in Accounts Payable | -7.02M | 14.30M | 26.96M | -14.56M | 53.76M | 5.19M |
| Other Operating Activities | 47.07M | 13.99M | -57.58M | -118.23M | -55.38M | -16.30M |
| Operating Cash Flow | 1.03B | 1.01B | 770.34M | 933.59M | 600.31M | 644.68M |
| Capital Expenditures | -1.48B | -1.43B | -1.33B | -1.20B | -1.06B | -1.02B |
| Cash Acquisitions | -59.62M | -57.00M | -665.00K | -45.30M | -116.89M | -36.33M |
| Divestitures | 1.99M | 1.55M | 167.47M | 41.76M | 1.08M | 1.82M |
| Other Investing Activities | -6.73M | -25.31M | -339.00K | -19.08M | 271.00K | -1.03M |
| Investing Cash Flow | -1.54B | -1.51B | -1.16B | -1.22B | -1.18B | -1.06B |
| Short-Term Debt Issued | 567.45M | 60.77M | 163.50M | 37.72M | ||
| Long-Term Debt Issued | 1.32B | 1.65B | 1.21B | 1.65B | 1.10B | |
| Total Debt Issued | 854.73M | 1.89B | 1.71B | 1.21B | 1.81B | 1.13B |
| Short-Term Debt Repaid | -58.62M | -83.71M | -53.03M | -13.35M | ||
| Long-Term Debt Repaid | -1.26B | -1.03B | -876.38M | -977.17M | -769.55M | |
| Total Debt Repaid | -113.36M | -1.32B | -1.03B | -960.09M | -1.03B | -782.90M |
| Net Debt Issued (Repaid) | 741.37M | 564.89M | 682.85M | 247.53M | 780.04M | 349.99M |
| Issuance of Common Stock | 120.64M | 316.37M | 54.08M | 339.27M | 82.13M | 320.71M |
| Repurchase of Common Stock | -2.99M | -2.28M | -4.05M | -3.98M | -1.19M | -3.29M |
| Common Dividends Paid | -387.28M | -373.82M | -346.39M | -316.81M | -288.63M | -258.65M |
| Other Financing Activities | 28.10M | 20.75M | 10.99M | 15.34M | 6.48M | 8.36M |
| Financing Cash Flow | 499.84M | 525.91M | 397.48M | 281.36M | 578.83M | 417.12M |
| Net Cash Flow | -16.44M | 25.62M | 4.54M | -6.79M | 831.00K | 5.74M |
| Free Cash Flow | -451.91M | -419.52M | -559.40M | -265.52M | -462.46M | -375.84M |
| Free Cash Flow Margin | -17.59% | -16.95% | -26.82% | -12.93% | -20.21% | -20.01% |
| Free Cash Flow Per Share | -1.59 | -1.50 | -2.04 | -0.99 | -1.76 | -1.46 |
| Levered Free Cash Flow | -657.63M | -762.49M | -614.42M | -433.20M | -511.79M | -512.47M |
| Unlevered Free Cash Flow | -442.87M | -556.81M | -425.37M | -256.10M | -362.97M | -382.65M |
| Cash Interest Paid | 310.92M | 310.92M | 275.90M | 272.53M | 225.82M | 201.79M |
| Cash Income Tax Paid | 9.08M | 9.08M | 6.70M | 7.84M | 11.27M | 5.69M |
| Change in Working Capital | -47.22M | -71.13M | -76.37M | 175.43M | -169.57M | -104.42M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 12.35B | 10.85B | 9.97B | 10.20B | 12.52B | 13.57B |
| Enterprise Value | 20.88B | 18.83B | 17.41B | 17.06B | 19.09B | 19.34B |
| PE Ratio | 22.25 | 17.61 | 16.75 | 20.48 | 26.91 | 31.44 |
| PS Ratio | 4.81 | 4.39 | 4.78 | 4.97 | 5.47 | 7.22 |
| PB Ratio | 1.76 | 1.58 | 1.61 | 1.73 | 2.33 | 2.62 |
| P/OCF Ratio | 12.02 | 10.74 | 12.95 | 10.93 | 20.86 | 21.05 |
| EV/Sales Ratio | 8.13 | 7.61 | 8.35 | 8.30 | 8.34 | 10.30 |
| EV/EBITDA Ratio | 15.47 | 14.14 | 15.44 | 16.41 | 19.27 | 21.30 |
| EV/EBIT Ratio | 22.91 | 20.59 | 22.96 | 24.51 | 28.52 | 31.71 |
| Debt / Equity Ratio | 1.22 | 1.22 | 1.25 | 1.21 | 1.28 | 1.18 |
| Debt / EBITDA Ratio | 6.28 | 6.22 | 6.84 | 6.78 | 6.88 | 6.66 |
| Net Debt / Equity Ratio | 1.22 | 1.21 | 1.25 | 1.21 | 1.28 | 1.18 |
| Net Debt / EBITDA Ratio | 6.32 | 6.23 | 6.89 | 6.83 | 6.93 | 6.72 |
| Net Debt / FCF Ratio | -18.87 | -19.79 | -13.89 | -26.76 | -14.84 | -16.24 |
| Quick Ratio | 0.53 | 0.55 | 0.33 | 0.31 | 0.38 | 0.40 |
| Current Ratio | 0.78 | 0.80 | 0.50 | 0.62 | 0.64 | 0.65 |
| Asset Turnover | 0.13 | 0.13 | 0.12 | 0.13 | 0.15 | 0.13 |
| Return on Equity (ROE) | 8.08% | 9.44% | 9.84% | 8.84% | 8.81% | 8.75% |
| Return on Assets (ROA) | 2.96% | 3.05% | 2.72% | 2.67% | 2.75% | 2.69% |
| Return on Capital Employed (ROCE) | 4.70% | 4.90% | 4.40% | 4.30% | 4.60% | 4.40% |
| Earnings Yield | 4.49% | 5.68% | 5.97% | 4.88% | 3.72% | 3.18% |
| FCF Yield | -3.66% | -3.86% | -5.61% | -2.60% | -3.69% | -2.77% |
| Dividend Yield | 3.31% | 3.48% | 3.49% | 3.18% | 2.34% | 1.93% |
| Payout Ratio | 73.75% | 60.65% | 58.19% | 63.59% | 62.04% | 59.93% |
| Buyback Yield / Dilution | -2.46% | -2.26% | -2.53% | -1.82% | -1.82% | -1.40% |
| Total Shareholder Return | 0.86% | 1.23% | 0.96% | 1.36% | 0.52% | 0.54% |