H2O America vs Essential Utilities
Essential Utilities reported revenue of $2.5 billion in fiscal 2025, 3.1 times H2O America's $801 million in fiscal 2025. H2O America's revenue grew 7.0% in its latest year, and Essential Utilities' grew 18.6%. H2O America had an operating margin of 22.2%, against 37.2% at Essential Utilities.
Side by side
| H2O America | Essential Utilities | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $801M | $2.5B |
| Revenue growth | 7.0% | 18.6% |
| Revenue growth a year, last 5 years | 7.2% | 11.1% |
| Gross margin | — | — |
| Operating margin | 22.2% | 37.2% |
| Net margin | 12.8% | 24.9% |
| Free cash flow | — | −$420M |
| Free cash flow margin | — | −16.9% |
| Return on capital | 4.9% | 6.4% |
| Net debt to EBITDA | 6.3x | 6.0x |
| Dividends and buybacks | $59M | $376M |
| Change in diluted share count | 7.1% | 2.3% |
| Last close | $58.48 | $42.76 |
| P/E at the last close | 23.0× | 21.8× |
| Insider trades, last 12 months | bought $3.3 million, sold $201,570 | sold $112,915 |
| Piotroski F-score | 4 of 8 | 5 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
H2O AmericaEssential Utilities
Operating margin
Percent of revenue
H2O AmericaEssential Utilities
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
H2O AmericaEssential Utilities
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the H2O America and Essential Utilities pages.