What is Essential Utilities' operating income?

Essential Utilities' total operating income in 2025 was $920.95 million, based on the following breakdown: Total Gross Profit: $1.43 billion Total Operating Expenses: $510.24 million

Essential Utilities (WTRG) Financials

$42.09 +0.09 (+0.20%)

As of 12:58 PM Eastern

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Annual Income Statements for Essential Utilities

This table shows Essential Utilities' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	202	234	240	192	225	285	432	465	498	595	616
Consolidated Net Income / (Loss)	202	234	240	192	225	285	432	465	498	595	616
Net Income / (Loss) Continuing Operations	202	234	240	192	225	285	432	465	498	595	616
Total Pre-Tax Income	217	255	257	178	212	265	422	451	432	573	620
Total Operating Income	321	333	334	323	340	435	603	661	692	758	921
Total Gross Profit	505	523	527	530	557	768	987	1,072	1,126	1,222	1,431
Total Revenue	814	820	810	838	890	1,463	1,878	2,288	2,054	2,086	2,475
Operating Revenue	814	820	810	838	890	1,463	1,878	2,288	2,054	2,086	2,475
Total Cost of Revenue	309	297	282	308	333	694	891	1,216	928	864	1,043
Operating Cost of Revenue	309	297	282	308	333	694	891	1,216	928	864	1,043
Total Operating Expenses	184	189	193	206	216	334	385	411	434	464	510
Depreciation Expense	125	131	136	146	158	251	292	316	339	364	403
Amortization Expense	3.45	2.02	0.42	0.64	-1.70	5.62	5.76	5.37	5.04	5.65	14
Other Operating Expenses / (Income)	55	56	57	60	60	77	87	90	90	95	93
Total Other Income / (Expense), net	-104	-78	-77	-145	-129	-170	-181	-210	-260	-184	-301
Interest Expense	76	81	89	99	144	188	208	238	283	302	329
Interest & Investment Income	-35	0.98	0.53	2.23	28	1.99	2.38	3.68	3.40	3.32	1.70
Other Income / (Expense), net	6.69	1.48	11	-48	-12	17	25	24	20	115	26
Income Tax Expense	15	21	17	-14	-13	-20	-9.61	-14	-66	-22	3.45
Basic Earnings per Share	$1.14	$1.32	$1.35	$1.08	$1.04	$1.14	$1.68	$1.77	$1.86	$2.17	$2.20
Weighted Average Basic Shares Outstanding	176.79M	177.27M	177.61M	177.90M	215.55M	249.77M	257.49M	262.25M	267.17M	273.91M	280.05M
Diluted Earnings per Share	$1.14	$1.32	$1.35	$1.08	$1.04	$1.12	$1.67	$1.77	$1.86	$2.17	$2.20
Weighted Average Diluted Shares Outstanding	177.52M	177.85M	178.18M	178.40M	215.93M	254.63M	258.18M	262.87M	267.66M	274.42M	280.62M
Weighted Average Basic & Diluted Shares Outstanding	177M	177.40M	177.60M	177.80M	222.78M	245.39M	252.88M	264.14M	273.30M	274.92M	283.12M
Cash Dividends to Common per Share	$0.69	$0.74	$0.79	$0.85	$0.91	$0.97	$1.04	$1.11	$1.19	$1.27	$1.34

This table shows Essential Utilities' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	135	266	75	69	185	284	108	92	133	224	106
Consolidated Net Income / (Loss)	135	266	75	69	185	284	108	92	133	224	106
Net Income / (Loss) Continuing Operations	135	266	75	69	185	284	108	92	133	224	106
Total Pre-Tax Income	105	255	77	85	156	263	112	96	148	231	109
Total Operating Income	174	231	145	155	227	339	185	170	227	311	193
Total Gross Profit	285	345	258	272	346	461	310	301	359	447	331
Total Revenue	479	612	434	435	604	784	515	477	699	862	531
Operating Revenue	479	612	434	435	604	784	515	477	699	862	531
Total Cost of Revenue	194	267	176	163	258	322	205	176	340	414	200
Operating Cost of Revenue	194	267	176	163	258	322	205	176	340	414	200
Total Operating Expenses	111	115	113	117	120	122	124	132	132	137	138
Depreciation Expense	86	89	90	91	94	97	100	103	104	107	110
Amortization Expense	1.76	1.09	1.07	1.15	2.34	2.61	3.98	3.74	3.95	3.62	3.71
Other Operating Expenses / (Income)	23	25	22	24	23	23	21	25	24	26	24
Total Other Income / (Expense), net	-69	24	-68	-70	-71	-76	-73	-73	-79	-80	-84
Interest Expense	73	73	73	77	79	82	80	82	85	87	89
Interest & Investment Income	0.67	0.99	0.28	1.39	0.66	0.23	0.30	1.08	0.09	1.61	0.51
Other Income / (Expense), net	2.89	97	4.73	5.61	7.88	6.13	6.64	7.80	5.69	5.84	4.44
Income Tax Expense	-31	-11	1.86	16	-29	-21	4.57	4.30	15	6.39	3.39
Basic Earnings per Share	$0.49	$0.97	$0.28	$0.25	$0.67	$1.03	$0.38	$0.33	$0.46	$0.79	$0.37
Weighted Average Basic Shares Outstanding	267.17M	273.38M	273.57M	274.02M	273.91M	275.19M	280.28M	281.78M	280.05M	283.18M	283.66M
Diluted Earnings per Share	$0.50	$0.97	$0.28	$0.25	$0.67	$1.03	$0.38	$0.33	$0.46	$0.79	$0.37
Weighted Average Diluted Shares Outstanding	267.66M	273.74M	273.95M	274.54M	274.42M	275.69M	280.73M	282.30M	280.62M	283.64M	284.09M
Weighted Average Basic & Diluted Shares Outstanding	273.30M	273.52M	273.67M	274.61M	274.92M	280.34M	280.47M	282.98M	283.12M	283.63M	283.78M

This table details how cash moves in and out of Essential Utilities' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.91	0.53	0.44	-0.58	1,865	-1,864	5.74	0.83	-6.79	4.54	26
Net Cash From Operating Activities	371	396	381	369	339	508	645	600	934	770	1,010
Net Cash From Continuing Operating Activities	371	396	381	369	339	508	645	600	934	770	1,010
Net Income / (Loss) Continuing Operations	202	234	240	192	225	285	432	465	498	595	616
Consolidated Net Income / (Loss)	202	234	240	192	225	285	432	465	498	595	616
Depreciation Expense	129	133	137	147	156	257	298	321	344	370	417
Non-Cash Adjustments To Reconcile Net Income	46	9.77	5.16	54	-30	40	36	39	34	-61	34
Changes in Operating Assets and Liabilities, net	-5.39	19	-0.30	-24	-13	-74	-121	-225	57	-134	-57
Net Cash From Investing Activities	-394	-383	-480	-640	-605	-4,334	-1,056	-1,178	-1,222	-1,163	-1,511
Net Cash From Continuing Investing Activities	-394	-383	-480	-640	-605	-4,334	-1,056	-1,178	-1,222	-1,163	-1,511
Purchase of Property, Plant & Equipment	-394	-392	-484	-641	-610	-4,337	-1,057	-1,180	-1,244	-1,330	-1,487
Sale of Property, Plant & Equipment	0.65	7.75	1.34	0.72	2.89	2.12	1.82	1.08	42	167	1.55
Other Investing Activities, net	-1.03	1.46	2.22	0.90	2.46	1.70	-1.03	0.27	-19	-0.34	-25
Net Cash From Financing Activities	22	-12	100	271	2,131	1,962	417	579	281	397	526
Net Cash From Continuing Financing Activities	22	-12	100	271	2,131	1,962	417	579	281	397	526
Repayment of Debt	-404	-393	-363	-915	-1,065	-1,950	-769	-814	-945	-1,001	-1,299
Repurchase of Common Equity	-25	-3.03	-2.17	-2.56	-1.87	-4.37	-3.29	-1.19	-3.98	-4.05	-2.28
Payment of Dividends	-121	-131	-141	-151	-189	-233	-259	-289	-317	-346	-374
Issuance of Debt	561	504	591	1,344	1,435	3,367	1,082	1,647	1,208	1,650	1,886
Issuance of Common Equity	0.68	1.39	1.45	5.16	1,946	746	317	80	339	52	315
Other Financing Activities, net	11	9.09	13	-9.98	6.16	36	49	-44	0.46	48	-1.08
Cash Interest Paid	75	73	82	94	89	169	202	226	273	276	311
Cash Income Taxes Paid	6.90	2.74	3.18	2.10	0.97	4.85	5.69	11	7.84	6.70	9.08

This table details how cash moves in and out of Essential Utilities' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-3.89	31	-16	-10	0.72	12	4.29	-19	28	41	-67
Net Cash From Operating Activities	129	241	186	196	148	300	272	233	206	265	324
Net Cash From Continuing Operating Activities	129	241	186	196	148	300	272	233	206	265	324
Net Income / (Loss) Continuing Operations	135	266	75	69	185	284	108	92	133	224	106
Consolidated Net Income / (Loss)	135	266	75	69	185	284	108	92	133	224	106
Depreciation Expense	88	90	91	93	97	99	104	107	108	111	113
Non-Cash Adjustments To Reconcile Net Income	8.70	-83	8.65	3.27	10	2.72	12	11	7.78	7.08	8.50
Changes in Operating Assets and Liabilities, net	-103	-32	11	31	-144	-86	49	22	-42	-77	96
Net Cash From Investing Activities	-303	-86	-296	-384	-397	-288	-345	-429	-449	-267	-399
Net Cash From Continuing Investing Activities	-303	-86	-296	-384	-397	-288	-345	-429	-449	-267	-399
Purchase of Property, Plant & Equipment	-325	-253	-296	-384	-397	-288	-345	-407	-447	-287	-398
Sale of Property, Plant & Equipment	41	167	0.42	0.29	0.20	0.24	0.30	0.27	0.74	0.04	0.94
Other Investing Activities, net	-20	-0.05	-0.11	-0.06	-0.12	-0.03	-0.17	-22	-2.67	-0.05	-1.58
Net Cash From Financing Activities	170	-124	94	177	250	-0.01	77	178	271	43	7.64
Net Cash From Continuing Financing Activities	170	-124	94	177	250	-0.01	77	178	271	43	7.64
Repayment of Debt	-209	-659	-5.43	-377	41	-648	-827	239	-62	-115	-184
Repurchase of Common Equity	-0.03	-2.23	-0.00	-0.00	-1.81	-2.23	-0.00	-0.04	-0.01	-2.93	-0.02
Payment of Dividends	-84	-84	-84	-89	-89	-89	-91	-96	-97	-97	-97
Issuance of Debt	458	618	172	604	255	708	845	-88	421	257	264
Issuance of Common Equity	3.94	3.88	3.79	36	7.92	67	149	95	3.83	5.59	14
Other Financing Activities, net	1.31	-0.32	7.24	3.18	38	-35	1.23	28	5.21	-4.16	9.89

This table presents Essential Utilities' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	5,718	6,159	6,332	6,964	9,362	13,705	14,658	15,719	16,841	18,027	19,465
Total Current Assets	128	129	131	147	2,015	380	438	658	492	486	610
Cash & Equivalents	3.23	3.76	4.20	3.63	1,869	4.83	11	11	4.61	9.16	35
Accounts Receivable	99	97	99	101	108	273	261	377	246	309	384
Inventories, net	12	13	14	16	18	58	110	200	113	94	112
Prepaid Expenses	12	13	13	23	16	39	37	40	100	41	59
Other Current Assets	-	-	-	-	2.39	5.09	20	19	29	33	20
Plant, Property, & Equipment, net	4,689	5,002	5,400	5,930	6,346	9,513	10,252	11,131	12,097	13,143	14,264
Plant, Property & Equipment, gross	6,088	6,509	7,004	7,648	8,202	11,620	12,610	13,737	14,977	16,275	17,691
Accumulated Depreciation	1,399	1,508	1,604	1,718	1,856	2,107	2,359	2,606	2,880	3,132	3,427
Total Noncurrent Assets	901	1,029	801	887	1,001	3,812	4,004	3,977	4,252	4,397	4,591
Goodwill	34	42	42	53	64	2,325	2,341	2,341	2,341	2,341	2,349
Intangible Assets	-	-	-	-	0.00	7.24	5.76	4.60	3.59	3.27	2.95
Other Noncurrent Operating Assets	859	979	752	827	931	1,479	1,621	1,551	1,907	2,052	2,238
Other Noncurrent Nonoperating Assets	-	-	-	-	0.00	1.27	37	80	1.38	1.42	1.45
Total Liabilities & Shareholders' Equity	5,718	6,159	6,332	6,964	9,362	13,705	14,658	15,719	16,841	18,027	19,465
Total Liabilities	3,992	4,309	4,375	4,955	5,481	9,021	9,510	10,389	10,945	11,828	12,607
Total Current Liabilities	193	302	284	399	323	604	675	1,022	798	975	764
Short-Term Debt	52	157	117	160	131	163	132	199	228	329	172
Accounts Payable	56	47	59	77	75	177	193	239	221	259	276
Accrued Expenses	50	40	41	47	50	123	124	131	127	137	169
Current Deferred & Payable Income Tax Liabilities	22	26	24	22	23	37	38	34	41	38	29
Other Current Liabilities	-	13	22	69	16	64	147	292	45	49	37
Other Current Nonoperating Liabilities	13	18	21	23	30	39	41	50	53	72	82
Total Noncurrent Liabilities	3,799	4,007	4,090	4,556	5,158	8,418	8,834	9,367	10,147	10,853	11,843
Long-Term Debt	1,720	1,738	2,008	2,398	2,943	5,508	5,815	6,418	6,826	7,368	8,110
Capital Lease Obligations	-	-	-	0.00	12	56	48	38	34	27	22
Asset Retirement Reserve & Litigation Obligation	260	251	542	531	513	775	771	780	822	765	703
Noncurrent Deferred Revenue	87	92	93	93	96	99	104	115	129	113	115
Noncurrent Deferred & Payable Income Tax Liabilities	1,119	1,269	769	845	936	1,258	1,407	1,346	1,628	1,832	2,090
Noncurrent Employee Benefit Liabilities	-	-	-	-	69	92	50	31	39	34	15
Other Noncurrent Operating Liabilities	613	658	678	688	589	630	640	639	669	714	787
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,726	1,850	1,958	2,009	3,881	4,684	5,184	5,377	5,896	6,199	6,857
Total Preferred & Common Equity	1,726	1,850	1,958	2,009	3,881	4,684	5,184	5,377	5,896	6,199	6,857
Total Common Equity	1,726	1,850	1,958	2,009	3,881	4,684	5,184	5,377	5,896	6,199	6,857
Common Stock	863	888	897	911	2,748	3,503	3,834	3,927	4,276	4,339	4,668
Retained Earnings	930	1,033	1,133	1,174	1,210	1,262	1,434	1,534	1,707	1,949	2,281
Treasury Stock	-68	-71	-73	-76	-78	-81	-84	-84	-86	-90	-91

This table presents Essential Utilities' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	15,818	16,102	16,433	17,054	17,252	17,565	18,327	18,554	18,893	19,780	19,942
Total Current Assets	510	407	409	420	363	374	494	439	434	623	465
Cash & Equivalents	20	12	8.51	35	19	8.44	21	25	6.40	76	8.63
Accounts Receivable	331	226	209	267	215	204	360	281	243	419	306
Inventories, net	96	109	127	67	85	105	61	90	124	72	96
Prepaid Expenses	37	37	31	35	29	26	35	29	28	36	34
Other Current Assets	16	17	26	15	16	31	17	14	32	20	22
Plant, Property, & Equipment, net	11,295	11,591	11,847	12,256	12,519	12,816	13,320	13,579	13,900	14,441	14,746
Plant, Property & Equipment, gross	13,961	14,344	14,681	15,208	15,519	15,891	16,538	16,857	17,268	17,943	18,363
Accumulated Depreciation	2,667	2,754	2,835	2,952	3,000	3,076	3,218	3,278	3,368	3,502	3,616
Total Noncurrent Assets	4,014	4,104	4,177	4,379	4,370	4,375	4,512	4,535	4,560	4,716	4,730
Goodwill	2,341	2,341	2,341	2,341	2,341	2,341	2,341	2,341	2,349	2,349	2,349
Intangible Assets	4.41	4.22	3.67	3.51	3.43	3.35	3.19	3.11	3.04	2.87	2.79
Other Noncurrent Operating Assets	1,634	1,724	1,794	2,034	2,025	2,029	2,167	2,190	2,207	2,363	2,377
Other Noncurrent Nonoperating Assets	34	36	39	1.39	1.40	1.41	1.43	1.43	1.44	1.45	1.46
Total Liabilities & Shareholders' Equity	15,818	16,102	16,433	17,054	17,252	17,565	18,327	18,554	18,893	19,780	19,942
Total Liabilities	10,302	10,487	10,510	10,973	11,089	11,384	11,867	11,834	12,077	12,887	12,924
Total Current Liabilities	803	765	897	679	629	683	757	599	728	654	599
Short-Term Debt	221	247	350	155	165	172	232	150	232	62	83
Accounts Payable	156	179	192	161	205	231	183	198	197	172	199
Accrued Expenses	114	130	141	130	144	141	120	147	149	167	169
Current Deferred & Payable Income Tax Liabilities	30	26	29	37	29	33	35	24	27	30	27
Other Current Liabilities	123	129	100	25	22	17	8.88	7.16	30	34	31
Other Current Nonoperating Liabilities	83	54	84	87	64	88	88	72	93	92	90
Total Noncurrent Liabilities	9,499	9,722	9,614	10,295	10,460	10,701	11,110	11,235	11,349	12,232	12,325
Long-Term Debt	6,485	6,616	6,456	6,856	7,011	7,230	7,525	7,623	7,692	8,362	8,421
Capital Lease Obligations	39	36	35	32	31	29	26	24	23	20	19
Asset Retirement Reserve & Litigation Obligation	767	808	827	839	810	805	729	721	721	710	709
Noncurrent Deferred Revenue	118	125	129	125	118	120	114	113	117	118	118
Noncurrent Deferred & Payable Income Tax Liabilities	1,414	1,459	1,487	1,734	1,764	1,788	1,965	2,002	2,011	2,220	2,241
Noncurrent Employee Benefit Liabilities	31	31	32	37	38	28	36	37	36	15	15
Other Noncurrent Operating Liabilities	645	646	647	671	687	699	716	714	748	788	801
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,516	5,615	5,923	6,081	6,163	6,181	6,460	6,720	6,816	6,893	7,018
Total Preferred & Common Equity	5,516	5,615	5,923	6,081	6,163	6,181	6,460	6,720	6,816	6,893	7,018
Total Common Equity	5,516	5,615	5,923	6,081	6,163	6,181	6,460	6,720	6,816	6,893	7,018
Common Stock	3,954	3,961	4,270	4,281	4,288	4,325	4,409	4,562	4,662	4,676	4,695
Retained Earnings	1,650	1,741	1,739	1,889	1,964	1,944	2,143	2,249	2,245	2,311	2,416
Treasury Stock	-87	-87	-87	-88	-88	-88	-92	-91	-91	-94	-93

This table displays calculated financial ratios and metrics derived from Essential Utilities' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.40%	0.70%	-1.26%	3.53%	6.16%	64.41%	28.40%	21.82%	-10.24%	1.57%	18.62%
EBITDA Growth	-49.64%	2.47%	2.91%	-12.38%	14.81%	46.29%	30.60%	8.78%	4.86%	17.69%	9.86%
EBIT Growth	-57.97%	2.13%	2.95%	-20.17%	19.15%	37.70%	38.97%	9.25%	3.85%	22.60%	8.54%
NOPAT Growth	-57.15%	2.33%	1.97%	11.55%	3.78%	29.41%	31.92%	10.67%	17.06%	-1.51%	16.44%
Net Income Growth	-13.48%	16.05%	2.37%	-19.92%	16.96%	26.86%	51.52%	7.79%	7.09%	19.49%	3.54%
EPS Growth	-12.98%	15.79%	2.27%	-20.00%	-3.70%	7.69%	49.11%	5.99%	5.08%	16.67%	1.38%
Operating Cash Flow Growth	1.93%	6.84%	-3.75%	-3.36%	-8.14%	50.07%	26.90%	-6.88%	55.52%	-17.49%	31.17%
Free Cash Flow Firm Growth	-88.90%	-7.72%	-154.09%	-373.38%	-31.78%	-2,575.82%	97.66%	-76.85%	-29.36%	33.35%	-24.87%
Invested Capital Growth	7.39%	7.21%	9.09%	11.87%	11.85%	103.97%	6.99%	7.91%	8.78%	7.32%	8.04%
Revenue Q/Q Growth	0.70%	-0.03%	0.81%	0.29%	2.33%	20.41%	3.40%	8.01%	-9.91%	6.37%	3.98%
EBITDA Q/Q Growth	-49.99%	-0.29%	1.76%	-14.83%	21.47%	13.30%	1.39%	3.00%	1.07%	5.61%	0.68%
EBIT Q/Q Growth	-58.22%	-0.80%	2.21%	-21.37%	32.95%	13.21%	1.18%	3.74%	0.55%	7.07%	-0.19%
NOPAT Q/Q Growth	-57.72%	-1.21%	-0.71%	5.42%	-5.92%	18.86%	1.72%	2.53%	4.98%	6.70%	-6.56%
Net Income Q/Q Growth	-15.98%	9.96%	1.62%	-22.93%	43.33%	15.62%	3.30%	-0.34%	4.29%	9.03%	-7.79%
EPS Q/Q Growth	-73.55%	10.00%	0.75%	-22.86%	48.57%	8.74%	1.83%	0.00%	3.33%	8.50%	-8.71%
Operating Cash Flow Q/Q Growth	-0.25%	5.07%	-2.12%	-5.50%	10.69%	-4.35%	-0.70%	-0.28%	5.40%	2.50%	6.12%
Free Cash Flow Firm Q/Q Growth	-87.98%	-27.92%	-1,451.56%	-14.60%	-51.27%	-3.44%	41.27%	55.84%	-309.50%	-9.25%	-21.50%
Invested Capital Q/Q Growth	1.08%	1.48%	2.09%	2.67%	3.18%	3.91%	2.98%	0.72%	2.51%	2.81%	2.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.01%	63.75%	65.13%	63.19%	62.56%	52.53%	52.57%	46.87%	54.82%	58.57%	57.84%
EBITDA Margin	56.07%	57.06%	59.47%	50.33%	54.43%	48.44%	49.27%	43.99%	51.39%	59.55%	55.15%
Operating Margin	39.44%	40.65%	41.25%	38.56%	38.23%	29.72%	32.09%	28.90%	33.70%	36.32%	37.22%
EBIT Margin	40.26%	40.83%	42.58%	32.83%	36.85%	30.86%	33.40%	29.95%	34.65%	41.83%	38.28%
Profit (Net Income) Margin	24.78%	28.56%	29.61%	22.91%	25.24%	19.47%	22.98%	20.33%	24.26%	28.54%	24.91%
Tax Burden Percent	93.10%	91.78%	93.41%	107.67%	106.15%	107.50%	102.28%	103.18%	115.39%	103.81%	99.44%
Interest Burden Percent	66.13%	76.22%	74.46%	64.81%	64.52%	58.70%	67.27%	65.79%	60.67%	65.72%	65.44%
Effective Tax Rate	6.90%	8.22%	6.59%	-7.67%	-6.15%	-7.50%	-2.28%	-3.18%	-15.39%	-3.81%	0.56%
Return on Invested Capital (ROIC)	8.85%	8.44%	7.95%	8.03%	7.45%	6.01%	5.70%	5.87%	6.35%	5.79%	6.26%
ROIC Less NNEP Spread (ROIC-NNEP)	3.09%	4.53%	4.38%	1.39%	0.27%	0.79%	2.56%	2.45%	2.02%	3.25%	2.56%
Return on Net Nonoperating Assets (RNNOA)	3.09%	4.66%	4.64%	1.65%	0.18%	0.65%	3.04%	2.94%	2.49%	4.06%	3.19%
Return on Equity (ROE)	11.94%	13.10%	12.59%	9.68%	7.62%	6.65%	8.75%	8.81%	8.84%	9.84%	9.44%
Cash Return on Invested Capital (CROIC)	1.73%	1.48%	-0.74%	-3.18%	-3.74%	-62.40%	-1.05%	-1.73%	-2.07%	-1.28%	-1.48%
Operating Return on Assets (OROA)	5.89%	5.64%	5.52%	4.14%	4.02%	3.91%	4.42%	4.51%	4.37%	5.01%	5.05%
Return on Assets (ROA)	3.63%	3.94%	3.84%	2.89%	2.75%	2.47%	3.04%	3.06%	3.06%	3.41%	3.29%
Return on Common Equity (ROCE)	11.94%	13.10%	12.59%	9.68%	7.62%	6.65%	8.75%	8.81%	8.84%	9.84%	9.44%
Return on Equity Simple (ROE_SIMPLE)	11.69%	12.66%	12.25%	9.55%	5.79%	6.08%	8.33%	8.65%	8.45%	9.60%	0.00%
Net Operating Profit after Tax (NOPAT)	299	306	312	348	361	467	616	682	799	787	916
NOPAT Margin	36.72%	37.31%	38.53%	41.52%	40.59%	31.95%	32.82%	29.82%	38.88%	37.70%	37.01%
Net Nonoperating Expense Percent (NNEP)	5.76%	3.90%	3.58%	6.63%	7.17%	5.21%	3.15%	3.43%	4.32%	2.53%	3.69%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.67%	6.15%	5.65%	6.04%
Cost of Revenue to Revenue	37.99%	36.25%	34.87%	36.81%	37.44%	47.47%	47.43%	53.13%	45.18%	41.43%	42.17%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.57%	23.10%	23.88%	24.63%	24.33%	22.81%	20.48%	17.97%	21.13%	22.25%	20.62%
Earnings before Interest and Taxes (EBIT)	328	335	345	275	328	451	627	685	712	873	947
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	457	468	481	422	484	708	925	1,007	1,055	1,242	1,365
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.44	2.36	2.99	2.60	2.30	2.23	2.40	2.17	1.66	1.59	1.57
Price to Tangible Book Value (P/TBV)	2.49	2.41	3.05	2.67	2.33	4.43	4.39	3.84	2.75	2.56	2.39
Price to Revenue (P/Rev)	5.17	5.32	7.22	6.24	10.02	7.13	6.64	5.09	4.76	4.74	4.35
Price to Earnings (P/E)	20.84	18.63	24.39	27.25	39.69	36.59	28.88	25.04	19.63	16.60	17.45
Dividend Yield	2.88%	3.00%	2.41%	2.88%	2.20%	2.28%	2.10%	3.15%	3.32%	3.52%	3.52%
Earnings Yield	4.80%	5.37%	4.10%	3.67%	2.52%	2.73%	3.46%	3.99%	5.09%	6.02%	5.73%
Enterprise Value to Invested Capital (EV/IC)	1.71	1.67	1.95	1.70	1.98	1.55	1.65	1.52	1.29	1.25	1.25
Enterprise Value to Revenue (EV/Rev)	7.33	7.62	9.84	9.28	11.38	11.04	9.82	8.00	8.21	8.44	7.69
Enterprise Value to EBITDA (EV/EBITDA)	13.07	13.35	16.54	18.44	20.90	22.79	19.94	18.17	15.98	14.17	13.94
Enterprise Value to EBIT (EV/EBIT)	18.20	18.66	23.10	28.27	30.88	35.76	29.41	26.69	23.69	20.17	20.09
Enterprise Value to NOPAT (EV/NOPAT)	19.96	20.42	25.53	22.36	28.03	34.55	29.93	26.81	21.11	22.37	20.77
Enterprise Value to Operating Cash Flow (EV/OCF)	16.09	15.77	20.88	21.11	29.90	31.78	28.62	30.47	18.06	22.84	18.83
Enterprise Value to Free Cash Flow (EV/FCFF)	102.38	116.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.03	1.02	1.09	1.27	0.80	1.22	1.16	1.24	1.20	1.25	1.21
Long-Term Debt to Equity	1.00	0.94	1.03	1.19	0.76	1.19	1.13	1.20	1.16	1.19	1.19
Financial Leverage	1.00	1.03	1.06	1.19	0.65	0.82	1.19	1.20	1.23	1.25	1.24
Leverage Ratio	3.29	3.32	3.28	3.35	2.77	2.69	2.87	2.88	2.89	2.88	2.87
Compound Leverage Factor	2.18	2.53	2.44	2.17	1.79	1.58	1.93	1.89	1.75	1.89	1.88
Debt to Total Capital	50.67%	50.60%	52.05%	56.01%	44.29%	55.01%	53.63%	55.31%	54.59%	55.48%	54.77%
Short-Term Debt to Total Capital	1.50%	4.20%	2.88%	3.50%	1.88%	1.56%	1.18%	1.66%	1.75%	2.37%	1.13%
Long-Term Debt to Total Capital	49.17%	46.40%	49.18%	52.51%	42.42%	53.44%	52.45%	53.65%	52.84%	53.12%	53.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	49.33%	49.40%	47.95%	43.99%	55.71%	44.99%	46.37%	44.69%	45.41%	44.52%	45.23%
Debt to EBITDA	3.88	4.05	4.41	6.07	6.37	8.08	6.48	6.61	6.72	6.22	6.08
Net Debt to EBITDA	3.86	4.03	4.39	6.04	2.50	8.08	6.47	6.60	6.71	6.21	6.06
Long-Term Debt to EBITDA	3.77	3.71	4.17	5.69	6.10	7.85	6.34	6.41	6.50	5.95	5.96
Debt to NOPAT	5.93	6.19	6.81	7.35	8.55	12.25	9.73	9.76	8.88	9.82	9.07
Net Debt to NOPAT	5.89	6.16	6.78	7.32	3.35	12.24	9.71	9.74	8.87	9.81	9.03
Long-Term Debt to NOPAT	5.76	5.68	6.44	6.89	8.18	11.91	9.51	9.46	8.59	9.40	8.88
Altman Z-Score	1.18	1.12	1.33	1.08	1.58	1.02	1.17	1.07	0.92	0.90	0.95
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.66	0.43	0.46	0.37	6.23	0.63	0.65	0.64	0.62	0.50	0.80
Quick Ratio	0.53	0.34	0.36	0.26	6.11	0.46	0.40	0.38	0.31	0.33	0.55
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	58	54	-29	-138	-181	-4,856	-114	-201	-260	-173	-216
Operating Cash Flow to CapEx	94.34%	102.99%	79.01%	57.52%	55.76%	11.72%	61.11%	50.94%	77.63%	66.24%	68.02%
Free Cash Flow to Firm to Interest Expense	0.77	0.67	-0.33	-1.39	-1.26	-25.77	-0.55	-0.84	-0.92	-0.57	-0.66
Operating Cash Flow to Interest Expense	4.89	4.92	4.31	3.72	2.35	2.70	3.10	2.52	3.29	2.55	3.07
Operating Cash Flow Less CapEx to Interest Expense	-0.29	0.14	-1.14	-2.75	-1.87	-20.31	-1.98	-2.43	-0.95	-1.30	-1.44
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.14	0.13	0.13	0.11	0.13	0.13	0.15	0.13	0.12	0.13
Accounts Receivable Turnover	8.30	8.34	8.26	8.39	8.52	7.68	7.03	7.18	6.60	7.52	7.14
Inventory Turnover	24.55	23.42	20.66	20.43	19.47	18.09	10.61	7.86	5.94	8.37	10.11
Fixed Asset Turnover	0.18	0.17	0.16	0.15	0.14	0.18	0.19	0.21	0.18	0.17	0.18
Accounts Payable Turnover	5.18	5.73	5.30	4.52	4.38	5.50	4.81	5.63	4.03	3.60	3.90
Days Sales Outstanding (DSO)	43.97	43.75	44.18	43.51	42.84	47.53	51.91	50.87	55.32	48.52	51.12
Days Inventory Outstanding (DIO)	14.87	15.58	17.67	17.87	18.75	20.18	34.41	46.43	61.45	43.63	36.10
Days Payable Outstanding (DPO)	70.50	63.69	68.81	80.75	83.41	66.34	75.89	64.82	90.49	101.32	93.52
Cash Conversion Cycle (CCC)	-11.67	-4.36	-6.96	-19.37	-21.82	1.37	10.44	32.48	26.28	-9.18	-6.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,499	3,751	4,092	4,577	5,120	10,443	11,173	12,057	13,115	14,075	15,207
Invested Capital Turnover	0.24	0.23	0.21	0.19	0.18	0.19	0.17	0.20	0.16	0.15	0.17
Increase / (Decrease) in Invested Capital	241	252	341	486	543	5,323	730	883	1,059	960	1,132
Enterprise Value (EV)	5,967	6,247	7,962	7,779	10,122	16,143	18,448	18,293	16,862	17,598	19,025
Market Capitalization	4,205	4,363	5,848	5,232	8,911	10,422	12,463	11,649	9,779	9,882	10,756
Book Value per Share	$9.78	$10.43	$11.02	$11.29	$17.98	$19.10	$20.13	$20.50	$21.58	$22.57	$24.23
Tangible Book Value per Share	$9.59	$10.19	$10.78	$11.00	$17.68	$9.59	$11.02	$11.56	$13.00	$14.04	$15.92
Total Capital	3,499	3,745	4,083	4,568	6,967	10,410	11,180	12,032	12,984	13,924	15,161
Total Debt	1,773	1,895	2,125	2,558	3,086	5,726	5,996	6,655	7,088	7,725	8,304
Total Long-Term Debt	1,720	1,738	2,008	2,398	2,955	5,563	5,863	6,456	6,861	7,396	8,132
Net Debt	1,762	1,884	2,114	2,548	1,211	5,721	5,985	6,644	7,083	7,716	8,269
Capital Expenditures (CapEx)	393	385	483	641	607	4,335	1,055	1,179	1,203	1,163	1,485
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-16	-19	-40	-95	-46	-66	-116	-176	-83	-169	-17
Debt-free Net Working Capital (DFNWC)	-13	-16	-36	-92	1,822	-61	-105	-164	-78	-159	18
Net Working Capital (NWC)	-65	-173	-153	-252	1,692	-224	-237	-364	-306	-489	-154
Net Nonoperating Expense (NNE)	97	72	72	156	137	182	185	217	300	191	299
Net Nonoperating Obligations (NNO)	1,773	1,901	2,134	2,568	1,239	5,759	5,989	6,679	7,219	7,876	8,350
Total Depreciation and Amortization (D&A)	129	133	137	147	156	257	298	321	344	370	417
Debt-free, Cash-free Net Working Capital to Revenue	-1.93%	-2.37%	-4.94%	-11.39%	-5.22%	-4.51%	-6.16%	-7.68%	-4.04%	-8.08%	-0.68%
Debt-free Net Working Capital to Revenue	-1.54%	-1.91%	-4.43%	-10.95%	204.84%	-4.18%	-5.60%	-7.18%	-3.82%	-7.64%	0.72%
Net Working Capital to Revenue	-7.96%	-21.09%	-18.93%	-30.05%	190.14%	-15.29%	-12.63%	-15.90%	-14.90%	-23.43%	-6.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.14	$1.32	$1.35	$1.08	$1.04	$1.14	$1.68	$1.77	$1.86	$2.17	$2.20
Adjusted Weighted Average Basic Shares Outstanding	176.79M	177.27M	177.61M	177.90M	215.55M	249.77M	257.49M	262.25M	267.17M	273.91M	280.05M
Adjusted Diluted Earnings per Share	$1.14	$1.32	$1.35	$1.08	$1.04	$1.12	$1.67	$1.77	$1.86	$2.17	$2.20
Adjusted Weighted Average Diluted Shares Outstanding	177.52M	177.85M	178.18M	178.40M	215.93M	254.63M	258.18M	262.87M	267.66M	274.42M	280.62M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.04	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	177.04M	177.45M	177.75M	178.15M	222.78M	245.39M	252.88M	264.14M	273.30M	274.92M	283.12M
Normalized Net Operating Profit after Tax (NOPAT)	299	306	312	226	238	304	422	463	484	530	916
Normalized NOPAT Margin	36.72%	37.31%	38.53%	26.99%	26.76%	20.80%	22.46%	20.23%	23.59%	25.42%	37.01%
Pre Tax Income Margin	26.62%	31.12%	31.70%	21.28%	23.78%	18.12%	22.47%	19.71%	21.02%	27.49%	25.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.32	4.15	3.89	2.78	2.28	2.40	3.02	2.88	2.51	2.89	2.88
NOPAT to Interest Expense	3.94	3.80	3.52	3.51	2.51	2.48	2.97	2.87	2.82	2.60	2.78
EBIT Less CapEx to Interest Expense	-0.86	-0.62	-1.56	-3.69	-1.94	-20.61	-2.06	-2.07	-1.73	-0.96	-1.64
NOPAT Less CapEx to Interest Expense	-1.24	-0.98	-1.93	-2.96	-1.71	-20.53	-2.11	-2.08	-1.43	-1.24	-1.73
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	60.09%	55.91%	58.67%	78.51%	83.95%	81.65%	59.93%	62.04%	63.59%	58.19%	60.65%
Augmented Payout Ratio	72.60%	57.20%	59.58%	79.84%	84.79%	83.18%	60.69%	62.30%	64.39%	58.87%	61.02%

This table displays calculated financial ratios and metrics derived from Essential Utilities' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	283,117,816.00	283,632,983.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	283,117,816.00	283,632,983.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.79	0.37
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-32.03%	-15.75%	-0.53%	5.84%	26.07%	28.03%	18.53%	9.58%	15.67%	9.97%	3.10%
EBITDA Growth	4.40%	32.27%	-1.72%	10.11%	24.87%	6.52%	22.75%	12.37%	2.78%	-3.87%	5.27%
EBIT Growth	2.25%	41.34%	-5.78%	11.58%	32.59%	5.38%	27.92%	10.50%	-0.77%	-8.28%	3.03%
NOPAT Growth	21.01%	-11.04%	-8.94%	-12.36%	19.27%	52.08%	25.36%	28.45%	-24.17%	-17.34%	5.36%
Net Income Growth	17.85%	38.83%	-17.40%	-13.33%	36.40%	6.78%	43.04%	32.67%	-28.19%	-20.93%	-1.95%
EPS Growth	13.64%	34.72%	-17.65%	-16.67%	34.00%	6.19%	35.71%	32.00%	-31.34%	-23.30%	-2.63%
Operating Cash Flow Growth	58.99%	-40.07%	-15.51%	7.06%	14.58%	24.43%	46.63%	18.58%	39.42%	-11.39%	18.82%
Free Cash Flow Firm Growth	-19.56%	-5.06%	-3.88%	-13.14%	17.06%	-17.19%	-27.88%	-29.45%	-34.34%	3.49%	10.40%
Invested Capital Growth	8.78%	7.30%	7.20%	7.00%	7.32%	8.60%	8.57%	8.46%	8.04%	7.29%	7.26%
Revenue Q/Q Growth	16.57%	27.67%	-29.03%	0.20%	38.86%	29.66%	-34.29%	-7.37%	46.57%	23.27%	-38.40%
EBITDA Q/Q Growth	15.22%	57.40%	-42.32%	5.25%	30.68%	34.26%	-33.52%	-3.65%	19.52%	25.58%	-27.20%
EBIT Q/Q Growth	22.81%	85.12%	-54.18%	7.12%	45.93%	47.13%	-44.38%	-7.47%	31.04%	36.01%	-37.53%
NOPAT Q/Q Growth	56.33%	6.68%	-41.00%	-10.94%	112.76%	36.02%	-51.36%	-8.74%	25.60%	48.27%	-38.00%
Net Income Q/Q Growth	69.15%	96.22%	-71.64%	-7.94%	166.21%	53.60%	-62.00%	-14.61%	44.09%	69.13%	-52.88%
EPS Q/Q Growth	66.67%	94.00%	-71.13%	-10.71%	168.00%	53.73%	-63.11%	-13.16%	39.39%	71.74%	-53.16%
Operating Cash Flow Q/Q Growth	-29.55%	86.57%	-22.85%	5.58%	-24.61%	102.61%	-9.08%	-14.62%	-11.35%	28.77%	21.92%
Free Cash Flow Firm Q/Q Growth	-22.54%	20.64%	-14.83%	-1.31%	10.17%	-12.14%	-25.31%	-2.55%	6.78%	19.44%	-16.35%
Invested Capital Q/Q Growth	2.51%	1.09%	1.18%	2.06%	2.81%	2.30%	1.14%	1.96%	2.42%	1.59%	1.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	59.44%	56.45%	59.43%	62.44%	57.32%	58.85%	60.14%	63.19%	51.35%	51.91%	62.36%
EBITDA Margin	55.29%	68.17%	55.40%	58.19%	54.77%	56.71%	57.37%	59.67%	48.66%	49.57%	58.59%
Operating Margin	36.29%	37.69%	33.45%	35.63%	37.50%	43.25%	35.98%	35.59%	32.47%	36.05%	36.41%
EBIT Margin	36.89%	53.49%	34.53%	36.92%	38.80%	44.03%	37.27%	37.23%	33.28%	36.72%	37.25%
Profit (Net Income) Margin	28.25%	43.42%	17.35%	15.95%	30.57%	36.21%	20.94%	19.30%	18.98%	26.04%	19.92%
Tax Burden Percent	129.47%	104.17%	97.59%	81.42%	118.54%	107.83%	95.93%	95.54%	89.74%	97.23%	96.89%
Interest Burden Percent	59.15%	77.92%	51.49%	53.05%	66.46%	76.28%	58.57%	54.28%	63.54%	72.92%	55.19%
Effective Tax Rate	-29.47%	-4.17%	2.41%	18.58%	-18.54%	-7.83%	4.07%	4.46%	10.26%	2.77%	3.11%
Return on Invested Capital (ROIC)	7.67%	5.94%	4.88%	4.30%	6.82%	7.61%	5.77%	5.67%	4.92%	6.00%	6.00%
ROIC Less NNEP Spread (ROIC-NNEP)	6.37%	6.31%	3.94%	3.51%	5.71%	6.53%	4.84%	4.77%	4.05%	5.05%	5.01%
Return on Net Nonoperating Assets (RNNOA)	7.86%	7.63%	4.73%	4.17%	7.13%	7.87%	5.67%	5.70%	5.03%	6.24%	6.00%
Return on Equity (ROE)	15.53%	13.57%	9.61%	8.46%	13.95%	15.49%	11.44%	11.37%	9.96%	12.24%	12.00%
Cash Return on Invested Capital (CROIC)	-2.07%	-1.13%	-1.20%	-1.20%	-1.28%	-1.64%	-1.43%	-1.25%	-1.48%	-1.36%	-1.34%
Operating Return on Assets (OROA)	4.65%	6.31%	4.01%	4.26%	4.64%	5.62%	4.87%	4.86%	4.39%	4.92%	4.97%
Return on Assets (ROA)	3.56%	5.12%	2.02%	1.84%	3.66%	4.62%	2.73%	2.52%	2.51%	3.49%	2.66%
Return on Common Equity (ROCE)	15.53%	13.57%	9.61%	8.46%	13.95%	15.49%	11.44%	11.37%	9.96%	12.24%	12.00%
Return on Equity Simple (ROE_SIMPLE)	0.00%	9.42%	9.03%	8.83%	0.00%	9.49%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	225	240	142	126	269	365	178	162	204	302	187
NOPAT Margin	46.98%	39.26%	32.64%	29.01%	44.45%	46.63%	34.52%	34.01%	29.14%	35.05%	35.28%
Net Nonoperating Expense Percent (NNEP)	1.29%	-0.36%	0.94%	0.79%	1.11%	1.08%	0.93%	0.90%	0.88%	0.94%	0.99%
Return On Investment Capital (ROIC_SIMPLE)	1.73%	-	-	-	1.93%	2.57%	1.22%	1.10%	1.34%	1.97%	1.20%
Cost of Revenue to Revenue	40.56%	43.55%	40.57%	37.56%	42.69%	41.15%	39.86%	36.81%	48.65%	48.09%	37.64%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.15%	18.76%	25.98%	26.81%	19.82%	15.60%	24.16%	27.59%	18.88%	15.86%	25.95%
Earnings before Interest and Taxes (EBIT)	177	327	150	161	235	345	192	178	233	316	198
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	265	417	241	253	331	444	295	285	340	427	311
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.66	1.64	1.64	1.71	1.59	1.68	1.55	1.64	1.57	1.65	1.55
Price to Tangible Book Value (P/TBV)	2.75	2.67	2.65	2.75	2.56	2.64	2.38	2.51	2.39	2.51	2.33
Price to Revenue (P/Rev)	4.76	5.14	5.23	5.38	4.74	4.81	4.45	4.70	4.35	4.47	4.23
Price to Earnings (P/E)	19.63	17.40	18.19	19.33	16.60	17.72	16.12	16.74	17.45	20.47	19.58
Dividend Yield	3.32%	3.31%	3.32%	3.23%	3.52%	3.25%	3.51%	3.31%	3.52%	3.36%	3.58%
Earnings Yield	5.09%	5.75%	5.50%	5.17%	6.02%	5.64%	6.20%	5.97%	5.73%	4.89%	5.11%
Enterprise Value to Invested Capital (EV/IC)	1.29	1.28	1.29	1.31	1.25	1.29	1.25	1.29	1.25	1.28	1.24
Enterprise Value to Revenue (EV/Rev)	8.21	8.75	8.94	9.17	8.44	8.25	7.78	8.04	7.69	7.74	7.54
Enterprise Value to EBITDA (EV/EBITDA)	15.98	14.67	15.02	15.28	14.17	14.68	13.73	14.11	13.94	14.67	14.22
Enterprise Value to EBIT (EV/EBIT)	23.69	21.02	21.69	22.06	20.17	20.93	19.51	20.16	20.09	21.52	20.96
Enterprise Value to NOPAT (EV/NOPAT)	21.11	22.41	23.23	24.39	22.37	20.40	19.17	19.52	20.77	23.36	22.65
Enterprise Value to Operating Cash Flow (EV/OCF)	18.06	21.96	23.44	23.92	22.84	22.47	19.86	20.09	18.83	20.25	18.86
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.20	1.16	1.17	1.20	1.25	1.20	1.16	1.17	1.21	1.22	1.21
Long-Term Debt to Equity	1.16	1.13	1.14	1.17	1.19	1.17	1.14	1.13	1.19	1.22	1.20
Financial Leverage	1.23	1.21	1.20	1.19	1.25	1.21	1.17	1.20	1.24	1.24	1.20
Leverage Ratio	2.89	2.83	2.83	2.81	2.88	2.82	2.78	2.81	2.87	2.85	2.80
Compound Leverage Factor	1.71	2.21	1.46	1.49	1.92	2.15	1.63	1.52	1.82	2.08	1.55
Debt to Total Capital	54.59%	53.67%	53.90%	54.59%	55.48%	54.64%	53.71%	53.83%	54.77%	55.05%	54.84%
Short-Term Debt to Total Capital	1.75%	1.18%	1.23%	1.27%	2.37%	1.63%	1.03%	1.57%	1.13%	0.40%	0.54%
Long-Term Debt to Total Capital	52.84%	52.49%	52.67%	53.33%	53.12%	53.02%	52.68%	52.26%	53.64%	54.65%	54.31%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.41%	46.33%	46.10%	45.41%	44.52%	45.36%	46.29%	46.17%	45.23%	44.95%	45.16%
Debt to EBITDA	6.72	6.09	6.25	6.32	6.22	6.13	5.89	5.86	6.08	6.27	6.25
Net Debt to EBITDA	6.71	6.06	6.23	6.31	6.21	6.11	5.87	5.86	6.06	6.21	6.25
Long-Term Debt to EBITDA	6.50	5.95	6.11	6.17	5.95	5.95	5.78	5.69	5.96	6.22	6.19
Debt to NOPAT	8.88	9.30	9.67	10.08	9.82	8.52	8.22	8.11	9.07	9.98	9.96
Net Debt to NOPAT	8.87	9.25	9.64	10.07	9.81	8.50	8.19	8.10	9.03	9.89	9.95
Long-Term Debt to NOPAT	8.59	9.09	9.45	9.85	9.40	8.27	8.06	7.87	8.88	9.90	9.86
Altman Z-Score	0.81	0.86	0.83	0.83	0.78	0.88	0.85	0.86	0.83	0.87	0.83
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.62	0.62	0.58	0.55	0.50	0.65	0.73	0.60	0.80	0.95	0.78
Quick Ratio	0.31	0.45	0.37	0.31	0.33	0.50	0.51	0.34	0.55	0.76	0.52
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-833	-661	-760	-770	-691	-775	-971	-996	-929	-748	-870
Operating Cash Flow to CapEx	45.51%	278.49%	62.84%	51.08%	37.23%	104.05%	78.98%	57.18%	46.20%	92.34%	81.52%
Free Cash Flow to Firm to Interest Expense	-11.43	-9.03	-10.40	-10.01	-8.72	-9.45	-12.17	-12.11	-10.93	-8.57	-9.77
Operating Cash Flow to Interest Expense	1.77	3.29	2.54	2.55	1.86	3.65	3.41	2.83	2.43	3.04	3.63
Operating Cash Flow Less CapEx to Interest Expense	-2.12	2.11	-1.50	-2.44	-3.14	0.14	-0.91	-2.12	-2.83	-0.25	-0.82
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.12	0.12	0.12	0.12	0.13	0.13	0.13	0.13	0.13	0.13
Accounts Receivable Turnover	6.60	6.48	8.80	9.50	7.52	7.19	9.44	10.65	7.14	6.55	8.76
Inventory Turnover	5.94	9.84	8.30	6.88	8.37	14.40	10.85	8.40	10.11	17.05	12.14
Fixed Asset Turnover	0.18	0.16	0.16	0.16	0.17	0.18	0.18	0.18	0.18	0.18	0.18
Accounts Payable Turnover	4.03	5.05	4.17	3.78	3.60	5.35	4.71	4.48	3.90	6.40	5.69
Days Sales Outstanding (DSO)	55.32	56.33	41.49	38.40	48.52	50.75	38.68	34.27	51.12	55.69	41.66
Days Inventory Outstanding (DIO)	61.45	37.11	43.99	53.03	43.63	25.35	33.65	43.45	36.10	21.41	30.07
Days Payable Outstanding (DPO)	90.49	72.29	87.43	96.49	101.32	68.25	77.47	81.39	93.52	57.04	64.13
Cash Conversion Cycle (CCC)	26.28	21.15	-1.95	-5.06	-9.18	7.84	-5.14	-3.67	-6.31	20.05	7.60
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,115	13,258	13,414	13,690	14,075	14,399	14,564	14,848	15,207	15,449	15,621
Invested Capital Turnover	0.16	0.15	0.15	0.15	0.15	0.16	0.17	0.17	0.17	0.17	0.17
Increase / (Decrease) in Invested Capital	1,059	902	901	896	960	1,141	1,149	1,158	1,132	1,050	1,058
Enterprise Value (EV)	16,862	16,971	17,315	17,979	17,598	18,630	18,184	19,132	19,025	19,769	19,381
Market Capitalization	9,779	9,963	10,127	10,556	9,882	10,868	10,412	11,191	10,756	11,401	10,866
Book Value per Share	$21.58	$22.25	$22.53	$22.59	$22.57	$23.50	$23.97	$24.30	$24.23	$24.35	$24.74
Tangible Book Value per Share	$13.00	$13.67	$13.96	$14.02	$14.04	$14.97	$15.61	$15.92	$15.92	$16.04	$16.45
Total Capital	12,984	13,124	13,370	13,612	13,924	14,243	14,518	14,764	15,161	15,337	15,542
Total Debt	7,088	7,043	7,207	7,432	7,725	7,783	7,798	7,947	8,304	8,444	8,523
Total Long-Term Debt	6,861	6,889	7,042	7,259	7,396	7,551	7,647	7,715	8,132	8,382	8,440
Net Debt	7,083	7,008	7,188	7,423	7,716	7,762	7,773	7,941	8,269	8,368	8,515
Capital Expenditures (CapEx)	283	86	296	384	397	288	345	407	446	287	397
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-83	-140	-120	-145	-169	-51	-34	-69	-17	-46	-59
Debt-free Net Working Capital (DFNWC)	-78	-104	-101	-137	-159	-30	-9.21	-62	18	30	-50
Net Working Capital (NWC)	-306	-259	-266	-309	-489	-262	-159	-295	-154	-32	-134
Net Nonoperating Expense (NNE)	90	-25	66	57	84	82	70	70	71	78	82
Net Nonoperating Obligations (NNO)	7,219	7,177	7,251	7,509	7,876	7,939	7,843	8,032	8,350	8,556	8,603
Total Depreciation and Amortization (D&A)	88	90	91	93	97	99	104	107	108	111	113
Debt-free, Cash-free Net Working Capital to Revenue	-4.04%	-7.19%	-6.20%	-7.41%	-8.08%	-2.26%	-1.47%	-2.89%	-0.68%	-1.79%	-2.30%
Debt-free Net Working Capital to Revenue	-3.82%	-5.38%	-5.23%	-6.98%	-7.64%	-1.34%	-0.39%	-2.62%	0.72%	1.18%	-1.96%
Net Working Capital to Revenue	-14.90%	-13.36%	-13.75%	-15.77%	-23.43%	-11.61%	-6.82%	-12.38%	-6.23%	-1.25%	-5.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.49	$0.97	$0.28	$0.25	$0.67	$1.03	$0.38	$0.33	$0.46	$0.79	$0.37
Adjusted Weighted Average Basic Shares Outstanding	267.17M	273.38M	273.57M	274.02M	273.91M	275.19M	280.28M	281.78M	280.05M	283.18M	283.66M
Adjusted Diluted Earnings per Share	$0.50	$0.97	$0.28	$0.25	$0.67	$1.03	$0.38	$0.33	$0.46	$0.79	$0.37
Adjusted Weighted Average Diluted Shares Outstanding	267.66M	273.74M	273.95M	274.54M	274.42M	275.69M	280.73M	282.30M	280.62M	283.64M	284.09M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	273.30M	273.52M	273.67M	274.61M	274.92M	280.34M	280.47M	282.98M	283.12M	283.63M	283.78M
Normalized Net Operating Profit after Tax (NOPAT)	122	161	142	126	159	237	178	162	204	302	187
Normalized NOPAT Margin	25.40%	26.38%	32.64%	29.01%	26.25%	30.27%	34.52%	34.01%	29.14%	35.05%	35.28%
Pre Tax Income Margin	21.82%	41.68%	17.78%	19.58%	25.79%	33.59%	21.83%	20.21%	21.15%	26.78%	20.55%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.43	4.47	2.05	2.09	2.96	4.20	2.40	2.16	2.74	3.62	2.22
NOPAT to Interest Expense	3.09	3.28	1.94	1.64	3.39	4.45	2.23	1.97	2.40	3.46	2.10
EBIT Less CapEx to Interest Expense	-1.46	3.29	-1.99	-2.90	-2.05	0.70	-1.92	-2.78	-2.51	0.33	-2.24
NOPAT Less CapEx to Interest Expense	-0.80	2.10	-2.10	-3.35	-1.62	0.95	-2.09	-2.97	-2.85	0.17	-2.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	63.59%	56.75%	59.83%	62.44%	58.19%	57.38%	55.62%	54.79%	60.65%	68.47%	69.80%
Augmented Payout Ratio	64.39%	57.15%	60.23%	62.85%	58.87%	58.04%	56.25%	55.40%	61.02%	69.00%	70.34%

Financials Breakdown Chart

Key Financial Trends

Essential Utilities’ latest financial statements show steady operating growth, but rising financing costs and heavy capital spending continue to pressure shareholder returns and cash balances. In Q2 2026, revenue increased 3.1% year over year to $530.9 million, while gross profit rose 6.9% to $331.0 million. Operating income also improved 4.3% to $193.3 million. However, net income declined 1.9% to $105.7 million, and diluted EPS fell to $0.37 from $0.38 in the restated Q2 2025 period.

The company’s longer-term operating footprint continues to expand. Net property, plant and equipment increased from $11.6 billion in Q2 2023 to $14.7 billion in Q2 2026, while total assets rose approximately 24% over the same period. This reflects sustained investment in utility infrastructure, although the expansion has been funded substantially with debt and equity.

Revenue and gross profit continue to trend higher. Q2 2026 revenue of $530.9 million was above $436.7 million in Q2 2023, while gross profit increased from $261.3 million to $331.0 million.
Operating cash flow strengthened. Cash generated from operations rose to $323.6 million in Q2 2026, up from $272.3 million in Q2 2025 and $219.8 million in Q2 2023.
Infrastructure investment is expanding the asset base. Net PP&E reached $14.7 billion in Q2 2026, up from $11.6 billion three years earlier, supporting future regulated utility growth.
Equity has grown alongside the asset base. Total equity increased to $7.0 billion in Q2 2026 from $5.6 billion in Q2 2023, helped by retained earnings and common-stock issuance.
The dividend per share has generally increased. The quarterly dividend rose from $0.287 in Q2 2023 to $0.3426 in Q3 2025 and Q1 2026, although a Q2 2026 dividend figure was not provided.
Results remain seasonal. Q1 2026 revenue and net income were substantially higher than Q2 levels, so quarter-to-quarter comparisons should be interpreted cautiously.
Recent results include restated prior periods. Q2 2025 and several earlier income statement and cash flow figures were restated, which may affect comparisons with previously published results.
Capital spending exceeds operating cash flow. Q2 2026 capital expenditures were $397.9 million versus $323.6 million of operating cash flow, implying approximately $74.3 million of negative free cash flow before financing.
Cash declined sharply during the latest quarter. Net cash fell by $67.3 million in Q2 2026, and ending cash was only $8.6 million compared with $75.9 million at the end of Q1 2026.
Debt and interest costs are rising. Total short- and long-term debt reached approximately $8.5 billion in Q2 2026, up from $7.8 billion a year earlier, while quarterly interest expense increased 11.6% year over year to $89.1 million.

Investor takeaway: Essential Utilities is growing its regulated asset base and generating increasingly strong operating cash flow, which supports the company’s long-term expansion and dividend profile. Still, the combination of negative free cash flow, low cash reserves, rising debt and higher interest expense leaves the stock sensitive to interest rates, refinancing conditions and the company’s ability to recover infrastructure investments through customer rates.

09/10/26 11:27 AM ETAI Generated. May Contain Errors.

Essential Utilities Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Essential Utilities' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Essential Utilities' net income appears to be on an upward trend, with a most recent value of $616.37 million in 2025, rising from $201.79 million in 2015. The previous period was $595.31 million in 2024. Find out what analysts predict for Essential Utilities in the coming months.

Essential Utilities' total operating income in 2025 was $920.95 million, based on the following breakdown:

Total Gross Profit: $1.43 billion
Total Operating Expenses: $510.24 million

Over the last 10 years, Essential Utilities' total revenue changed from $814.20 million in 2015 to $2.47 billion in 2025, a change of 203.9%.

Essential Utilities' total liabilities were at $12.61 billion at the end of 2025, a 6.6% increase from 2024, and a 215.8% increase since 2015.

In the past 10 years, Essential Utilities' cash and equivalents has ranged from $3.23 million in 2015 to $1.87 billion in 2019, and is currently $34.78 million as of their latest financial filing in 2025.

Over the last 10 years, Essential Utilities' book value per share changed from 9.78 in 2015 to 24.23 in 2025, a change of 147.7%.

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Financial statements for NYSE:WTRG last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Essential Utilities (WTRG) Financials

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Essential Utilities (WTRG) Financials

Annual Income Statements for Essential Utilities

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Quarterly Cash Flow Statements for Essential Utilities

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Quarterly Metrics And Ratios for Essential Utilities

Financials Breakdown Chart

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Essential Utilities Financials - Frequently Asked Questions

When does Essential Utilities' financial year end?

How has Essential Utilities' net income changed over the last 10 years?

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How has Essential Utilities' revenue changed over the last 10 years?

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