Electric utilities with the highest profit margins

Ranked

40

of 52 electric utilities we cover

Median

12.0%

Highest

40.4%

NEE

Range

−6.8% to 40.4%

#	Company	Net margin	Operating margin	Revenue growth (TTM)	Market cap
1	NEENextEra Energy	40.4%	30.0%	+9.6%	$171.2B
2	EIXEdison International	19.3%	32.7%	+10.7%	$22.1B
3	IDAIdacorp	18.8%	22.8%	−0.4%	$8.1B
4	LNTAlliant Energy	18.4%	22.1%	+6.8%	$18.1B
5	AEEAmeren	17.9%	24.9%	+3.8%	$29.9B
6	WECWEC Energy	16.7%	22.8%	+8.9%	$36.2B
7	PEGPublic Service Enterprise	16.0%	23.1%	+12.7%	$35.9B
8	DUKDuke Energy	15.8%	27.8%	+6.3%	$97.4B
9	SOSouthern	15.4%	24.2%	+6.4%	$106.9B
10	XELXcel Energy	15.3%	19.1%	+4.7%	$48.8B
11	EVRGEvergy	15.2%	26.2%	+3.6%	$19.5B
12	OTTROtter Tail	14.8%	17.1%	+0.3%	$3.8B
13	OGEOGE Energy	14.4%	24.2%	+0.6%	$10B
14	DDominion Energy	14.0%	21.1%	+19.0%	$57.3B
15	AEPAmerican Electric Power	13.8%	23.0%	+10.3%	$70.6B
16	ETREntergy	13.5%	22.9%	+9.5%	$50.1B
17	PPLPPL	13.5%	24.1%	+6.7%	$26.3B
18	BKHBlack Hills	13.0%	23.9%	+2.5%	$6.1B
19	EDConsolidated Edison	12.5%	18.0%	+9.5%	$42.8B
20	PCGPG&E	12.3%	20.0%	+5.7%	$33.8B
21	AVAAvista	11.8%	18.8%	−1.8%	$3.2B
22	CMSCMS Energy	11.6%	18.9%	+9.9%	$21.8B
23	CNPCenterPoint Energy	11.6%	23.2%	+7.1%	$27.1B
24	PNWPinnacle West Capital	11.5%	20.5%	+5.7%	$12.8B
25	TVETennessee Valley Authority	11.3%	20.1%	+5.1%	n/m
26	EXCExelon	11.0%	20.8%	+6.6%	$45.9B
27	ORAOrmat Technologies	10.7%	16.6%	+31.1%	$5.4B
28	ESEversource Energy	10.4%	21.5%	+7.8%	$25.4B
29	NWENorthWestern Energy	10.1%	18.8%	+10.7%	$4.8B
30	UTLUnitil	9.5%	18.9%	+20.8%	$1B
31	TXNMTXNM Energy	8.8%	22.2%	+10.0%	$6B
32	DTEDTE Energy	8.0%	13.3%	+15.9%	$27.4B
33	FEFirstEnergy	6.9%	14.6%	+12.6%	$26.7B
34	HEHawaiian Electric Industries	6.8%	11.5%	+5.1%	$1.5B
35	CWENClearway Energy	5.8%	13.4%	+9.9%	$6.4B
36	XIFRXPLR Infrastructure	5.2%	−0.1%	−2.8%	$892.8M
37	GNEGenie Energy	4.9%	4.2%	+10.0%	$439.8M
38	HNRGHallador Energy	−0.2%	3.7%	+7.9%	$520.9M
39	TLNTalen Energy	−5.4%	2.6%	+60.8%	$15.7B
40	SPRUSpruce Power	−6.8%	22.4%	+10.0%	$25.6M

Not ranked: 4 with not a meaningful number, 1 with a margin moved by items that are not sales. 7 companies whose data behind this number has a caveat are left out until it is checked.

A ranking of numbers, not a recommendation. A low multiple can be a bargain or a business in trouble: open the company to see which.