Utility stocks with the highest profit margins

Ranked

67

of 86 utility stocks we cover

Median

12.5%

Highest

40.4%

NEE

Range

−21.3% to 40.4%

#	Company	Net margin	Operating margin	Revenue growth (TTM)	Market cap
1	NEENextEra Energy, Regulated Electric	40.4%	30.0%	+9.6%	$171.2B
2	YORWYork Water, Regulated Water	28.5%	36.6%	+9.4%	$516.4M
3	MSEXMiddlesex Water, Regulated Water	23.3%	29.2%	+5.3%	$1.1B
4	SRSpire, Regulated Gas	21.6%	19.7%	+10.7%	$5B
5	WTRGEssential Utilities, Regulated Water	21.6%	35.1%	+9.9%	$12.2B
6	AWKAmerican Water Works, Regulated Water	21.3%	36.9%	+6.9%	$28.4B
7	AWRAmerican States Water, Regulated Water	20.5%	31.8%	+13.2%	$3.4B
8	SRESempra, Diversified Utilities	20.5%	20.7%	+1.6%	$55B
9	ARTNAArtesian Resources, Regulated Water	20.2%	25.0%	+5.9%	$352.2M
10	MGEEMGE Energy, Diversified Utilities	19.5%	22.0%	+7.1%	$2.8B
11	EIXEdison International, Regulated Electric	19.3%	32.7%	+10.7%	$22.1B
12	IDAIdacorp, Regulated Electric	18.8%	22.8%	−0.4%	$8.1B
13	LNTAlliant Energy, Regulated Electric	18.4%	22.1%	+6.8%	$18.1B
14	AEEAmeren, Regulated Electric	17.9%	24.9%	+3.8%	$29.9B
15	WECWEC Energy, Regulated Electric	16.7%	22.8%	+8.9%	$36.2B
16	NJRNew Jersey Resources, Regulated Gas	16.4%	24.8%	+6.4%	$5.4B
17	PEGPublic Service Enterprise, Regulated Electric	16.0%	23.1%	+12.7%	$35.9B
18	DUKDuke Energy, Regulated Electric	15.8%	27.8%	+6.3%	$97.4B
19	SOSouthern, Regulated Electric	15.4%	24.2%	+6.4%	$106.9B
20	XELXcel Energy, Regulated Electric	15.3%	19.1%	+4.7%	$48.8B
21	EVRGEvergy, Regulated Electric	15.2%	26.2%	+3.6%	$19.5B
22	OTTROtter Tail, Regulated Electric	14.8%	17.1%	+0.3%	$3.8B
23	OGEOGE Energy, Regulated Electric	14.4%	24.2%	+0.6%	$10B
24	AESAES, Renewable Utilities	14.3%	13.7%	+8.5%	$10.7B
25	DDominion Energy, Regulated Electric	14.0%	21.1%	+19.0%	$57.3B
26	AEPAmerican Electric Power, Regulated Electric	13.8%	23.0%	+10.3%	$70.6B
27	ETREntergy, Regulated Electric	13.5%	22.9%	+9.5%	$50.1B
28	PPLPPL, Regulated Electric	13.5%	24.1%	+6.7%	$26.3B
29	NINiSource, Regulated Gas	13.2%	27.0%	+12.3%	$20.8B
30	BKHBlack Hills, Regulated Electric	13.0%	23.9%	+2.5%	$6.1B
31	HTOH2O America, Regulated Water	12.9%	21.5%	+5.0%	$2.5B
32	CWCOConsolidated Water, Regulated Water	12.7%	12.3%	−1.2%	$445M
33	EDConsolidated Edison, Regulated Electric	12.5%	18.0%	+9.5%	$42.8B
34	OGSONE Gas, Regulated Gas	12.5%	20.6%	−0.8%	$4.9B
35	PCGPG&E, Regulated Electric	12.3%	20.0%	+5.7%	$33.8B
36	AVAAvista, Regulated Electric	11.8%	18.8%	−1.8%	$3.2B
37	CMSCMS Energy, Regulated Electric	11.6%	18.9%	+9.9%	$21.8B
38	CNPCenterPoint Energy, Regulated Electric	11.6%	23.2%	+7.1%	$27.1B
39	VSTVistra, Independent Power Producers	11.6%	18.5%	+3.8%	$47B
40	PNWPinnacle West Capital, Regulated Electric	11.5%	20.5%	+5.7%	$12.8B
41	TVETennessee Valley Authority, Regulated Electric	11.3%	20.1%	+5.1%	n/m
42	CEGConstellation Energy, Independent Power Producers	11.1%	14.7%	+26.0%	$89.8B
43	EXCExelon, Regulated Electric	11.0%	20.8%	+6.6%	$45.9B
44	MDUMDU Resources, Regulated Gas	10.7%	17.0%	−1.1%	$4B
45	ORAOrmat Technologies, Regulated Electric	10.7%	16.6%	+31.1%	$5.4B
46	ESEversource Energy, Regulated Electric	10.4%	21.5%	+7.8%	$25.4B
47	NWENorthWestern Energy, Regulated Electric	10.1%	18.8%	+10.7%	$4.8B
48	NWNNorthwest Natural, Regulated Gas	9.7%	22.8%	+4.4%	$2.1B
49	UTLUnitil, Regulated Electric	9.5%	18.9%	+20.8%	$1B
50	UGIUGI, Diversified Utilities	9.2%	16.2%	−0.5%	$8.3B
51	TXNMTXNM Energy, Regulated Electric	8.8%	22.2%	+10.0%	$6B
52	DTEDTE Energy, Regulated Electric	8.0%	13.3%	+15.9%	$27.4B
53	FEFirstEnergy, Regulated Electric	6.9%	14.6%	+12.6%	$26.7B
54	HEHawaiian Electric Industries, Regulated Electric	6.8%	11.5%	+5.1%	$1.5B
55	CWENClearway Energy, Regulated Electric	5.8%	13.4%	+9.9%	$6.4B
56	OPALOPAL Fuels, Diversified Utilities	5.2%	0.7%	+3.0%	$263.9M
57	GWRSGlobal Water Resources, Regulated Water	5.2%	13.6%	+10.8%	$228.3M
58	XIFRXPLR Infrastructure, Regulated Electric	5.2%	−0.1%	−2.8%	$892.8M
59	GNEGenie Energy, Regulated Electric	4.9%	4.2%	+10.0%	$439.8M
60	MNTKMontauk Renewables, Diversified Utilities	4.2%	0.6%	+4.3%	$303.2M
61	EEExcelerate Energy, Regulated Gas	3.2%	21.8%	+49.0%	n/m
62	NRGNRG Energy, Independent Power Producers	2.6%	6.1%	+12.8%	$19.4B
63	HNRGHallador Energy, Regulated Electric	−0.2%	3.7%	+7.9%	$520.9M
64	TLNTalen Energy, Regulated Electric	−5.4%	2.6%	+60.8%	$15.7B
65	SPRUSpruce Power, Regulated Electric	−6.8%	22.4%	+10.0%	$25.6M
66	SLNGStabilis Solutions, Regulated Gas	−14.1%	−16.2%	−19.7%	$82.9M
67	CLNEClean Energy Fuels, Diversified Utilities	−21.3%	−7.3%	+5.2%	$321.8M

Not ranked: 5 with not a meaningful number, 4 with a margin moved by items that are not sales, 1 with under $50M of revenue. 9 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.