Essential Utilities, Inc. (WTRG) Key Metrics
WTRG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $11.58B
- Enterprise value
- $19.92B
- P/E (TTM)
- 20.8 10-yr median 28.1
- Forward P/E
- 16.8
- PEG ratio
- 3.58
- Price / sales
- 4.5 10-yr median 6.9
- Price / book
- 1.6 10-yr median 2.6
- EV / EBITDA
- 14.6 10-yr median 19.0
- Dividend yield
- 3.53% $1.44 a year
- Beta
- 0.62
WTRG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsWTRG valuation Price multiples at each fiscal year-end price.
WTRG returns How much profit the business earns on the capital it uses.
WTRG per-share figures Results divided by the shares outstanding at year-end.
WTRG financial health Debt, liquidity and how easily interest is covered.
WTRG efficiency & capital use Working capital cycle and where the cash goes.
WTRG valuation history
WTRG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
WTRG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
WTRG cash returned to shareholders
WTRG price vs earnings per share
WTRG key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $10.76B | $9.97B | $10.00B | $12.55B | $13.86B | $12.04B | $10.14B | $6.10B | $6.99B | $5.34B |
| Enterprise value | $19.07B | $17.68B | $17.08B | $19.37B | $19.88B | $17.76B | $11.35B | $8.65B | $9.11B | $7.23B |
| P/E ratio | 17.5 | 16.7 | 20.1 | 27.0 | 32.1 | 42.3 | 45.1 | 31.8 | 29.2 | 22.8 |
| Price / sales | 4.3 | 4.8 | 4.9 | 5.5 | 7.4 | 8.2 | 11.4 | 7.3 | 8.6 | 6.5 |
| Price / book | 1.6 | 1.6 | 1.7 | 2.3 | 2.7 | 2.6 | 2.6 | 3.0 | 3.6 | 2.9 |
| Price / free cash flow | — | — | — | — | — | — | — | — | — | 417.6 |
| Price / operating cash flow | 10.7 | 12.9 | 10.7 | 20.9 | 21.5 | 23.7 | 29.9 | 16.6 | 18.3 | 13.5 |
| EV / sales | 7.7 | 8.5 | 8.3 | 8.5 | 10.6 | 12.1 | 12.8 | 10.3 | 11.3 | 8.8 |
| EV / EBITDA | 14.0 | 14.2 | 16.1 | 19.2 | 21.4 | 25.0 | 23.0 | 20.4 | 18.9 | 15.4 |
| EV / free cash flow | — | — | — | — | — | — | — | — | — | 565.5 |
| Earnings yield | 5.7% | 6.0% | 5.0% | 3.7% | 3.1% | 2.4% | 2.2% | 3.1% | 3.4% | 4.4% |
| Free cash flow yield | −3.9% | −5.6% | −2.7% | −3.7% | −2.7% | −2.7% | −2.1% | −2.1% | −1.4% | 0.2% |
| Dividend yield | 3.5% | 3.5% | 3.2% | 2.3% | 1.9% | 1.9% | 1.9% | 2.5% | 2.0% | 2.5% |
| Shareholder yield (dividends + buybacks) | 3.5% | 3.5% | 3.2% | 2.3% | 1.9% | 2.0% | 1.9% | 2.5% | 2.0% | 2.5% |
| Share price at fiscal year-end | $38.36 | $36.32 | $37.35 | $47.73 | $53.69 | $47.29 | $46.94 | $34.19 | $39.23 | $30.04 |
| Per share | ||||||||||
| Revenue per share | $8.82 | $7.60 | $7.67 | $8.70 | $7.27 | $5.74 | $4.12 | $4.70 | $4.54 | $4.61 |
| Earnings per share | $2.20 | $2.17 | $1.86 | $1.77 | $1.67 | $1.12 | $1.04 | $1.08 | $1.35 | $1.32 |
| Operating cash flow per share | $3.60 | $2.81 | $3.49 | $2.28 | $2.50 | $2.00 | $1.57 | $2.07 | $2.14 | $2.23 |
| Free cash flow per share | −$1.49 | −$2.04 | −$0.99 | −$1.76 | −$1.46 | −$1.29 | −$0.98 | −$0.71 | −$0.54 | $0.07 |
| Cash per share | $0.12 | $0.03 | $0.02 | $0.04 | $0.04 | $0.02 | $8.66 | $0.02 | $0.02 | $0.02 |
| Book value per share | $24.44 | $22.59 | $22.03 | $20.46 | $20.08 | $18.39 | $17.97 | $11.26 | $10.99 | $10.40 |
| Tangible book value per share | $16.06 | $14.05 | $13.27 | $11.53 | $10.99 | $9.24 | $17.68 | $10.97 | $10.75 | $10.17 |
| Dividends per share | $1.33 | $1.26 | $1.18 | $1.10 | $1.00 | $0.91 | $0.87 | $0.84 | $0.79 | $0.74 |
| Capex per share | $5.10 | $4.85 | $4.48 | $4.04 | $3.95 | $3.28 | $2.55 | $2.78 | $2.68 | $2.15 |
| Debt per share | $29.71 | $28.15 | $26.48 | $26.01 | $23.34 | $22.49 | $14.29 | $14.34 | $11.93 | $10.65 |
| Shares outstanding | 280.6M | 274.4M | 267.7M | 262.9M | 258.2M | 254.6M | 215.9M | 178.4M | 178.2M | 177.8M |
| Change in shares outstanding | +2.3% | +2.5% | +1.8% | +1.8% | +1.4% | +17.9% | +21.0% | +0.1% | +0.2% | +0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.4% | 9.8% | 8.8% | 8.8% | 8.7% | 6.7% | 7.6% | 9.7% | 12.6% | 13.1% |
| Return on invested capital (ROIC) | 6.3% | 5.6% | 5.5% | 5.7% | 5.6% | 5.6% | 7.0% | 7.5% | 8.0% | 8.4% |
| Return on assets (ROA) | 3.3% | 3.4% | 3.1% | 3.1% | 3.0% | 2.5% | 2.8% | 2.9% | 3.8% | 3.9% |
| Return on tangible assets | 3.5% | 3.8% | 3.4% | 3.5% | 3.5% | 2.5% | 2.4% | 2.8% | 3.8% | 3.8% |
| Free cash flow margin | −17.0% | −26.8% | −12.9% | −20.2% | −20.0% | −22.4% | −23.8% | −15.2% | −12.0% | 1.6% |
| Income quality (OCF / net income) | 1.64 | 1.29 | 1.87 | 1.29 | 1.49 | 1.78 | 1.51 | 1.92 | 1.59 | 1.69 |
| Financial health | ||||||||||
| Total debt | $8.34B | $7.73B | $7.09B | $6.84B | $6.02B | $5.73B | $3.09B | $2.56B | $2.13B | $1.89B |
| Cash & short-term investments | $34.8M | $9.2M | $4.6M | $11.4M | $10.6M | $4.8M | $1.87B | $3.6M | $4.2M | $3.8M |
| Net debt | $8.30B | $7.72B | $7.08B | $6.83B | $6.01B | $5.72B | $1.22B | $2.55B | $2.12B | $1.89B |
| Debt / equity | 1.22 | 1.25 | 1.20 | 1.27 | 1.16 | 1.22 | 0.80 | 1.27 | 1.09 | 1.02 |
| Debt / assets | 0.42 | 0.43 | 0.42 | 0.43 | 0.41 | 0.42 | 0.33 | 0.37 | 0.34 | 0.31 |
| Net debt / EBITDA | 6.08 | 6.20 | 6.69 | 6.76 | 6.48 | 8.05 | 2.47 | 6.02 | 4.40 | 4.03 |
| Current ratio | 0.80 | 0.50 | 0.62 | 0.64 | 0.65 | 0.63 | 6.23 | 0.37 | 0.46 | 0.43 |
| Quick ratio | 0.65 | 0.40 | 0.48 | 0.45 | 0.49 | 0.53 | 6.17 | 0.33 | 0.41 | 0.38 |
| Interest coverage | 2.8 | 2.5 | 2.4 | 2.8 | 2.9 | 2.3 | 2.7 | 3.3 | 3.8 | 4.1 |
| Working capital | −$154.1M | −$488.8M | −$305.9M | −$363.7M | −$237.3M | −$223.7M | $1.69B | −$251.8M | −$153.2M | −$172.9M |
| Invested capital | $15.16B | $13.91B | $12.98B | $12.20B | $11.20B | $10.40B | $5.10B | $4.56B | $4.08B | $3.74B |
| Tangible asset value | $4.51B | $3.85B | $3.55B | $3.03B | $2.84B | $2.35B | $3.82B | $1.96B | $1.92B | $1.81B |
| Net current asset value | −$12.43B | −$11.34B | −$10.45B | −$9.68B | −$9.04B | −$8.64B | −$3.47B | −$4.81B | −$4.24B | −$4.18B |
| Graham number | $34.75 | $33.20 | $30.37 | $28.54 | $27.48 | $21.52 | $20.51 | $16.51 | $18.24 | $17.56 |
| Graham net-net per share | −$45.11 | −$42.05 | −$39.98 | −$37.84 | −$35.68 | −$34.49 | −$16.31 | −$27.29 | −$24.07 | −$23.76 |
| Capital allocation | ||||||||||
| Dividends paid | $373.8M | $346.4M | $316.8M | $288.6M | $258.6M | $232.6M | $188.5M | $150.7M | $140.7M | $130.9M |
| Share buybacks (net) | $2.3M | $4.0M | $4.0M | $1.2M | $3.3M | $4.4M | $1.9M | $2.6M | $2.2M | $3.0M |
| Dividend payout ratio | 60.6% | 58.2% | 63.6% | 62.0% | 59.9% | 81.6% | 84.0% | 78.5% | 58.7% | 55.9% |
| Capex / revenue | 57.8% | 63.7% | 58.4% | 46.4% | 54.3% | 57.1% | 61.8% | 59.2% | 59.1% | 46.7% |
| Capex / operating cash flow | 141.5% | 172.6% | 128.4% | 177.0% | 158.3% | 164.5% | 162.6% | 134.5% | 125.4% | 96.8% |
| Capex / depreciation | 3.43 | 3.60 | 3.49 | 3.31 | 3.43 | 3.25 | 3.52 | 3.38 | 3.50 | 2.88 |
| Stock-based compensation / revenue | 0.5% | 0.5% | 0.6% | 0.5% | 0.5% | 0.6% | 0.8% | 0.9% | 0.8% | 0.7% |
| SG&A / revenue | — | — | — | 3.9% | 4.6% | 5.2% | 0.3% | 0.6% | 0.5% | 0.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 51.1 | 48.5 | 55.3 | 50.9 | 51.9 | 47.5 | 42.8 | 43.5 | 44.2 | 43.7 |
| Days of inventory on hand | 25.8 | 43.6 | 61.4 | 46.4 | 34.4 | 20.2 | 18.8 | 17.9 | 17.7 | 15.6 |
| Days payables outstanding | 66.8 | 101.3 | 90.5 | 64.8 | 75.9 | 66.3 | 83.4 | 80.8 | 68.8 | 63.7 |
| Cash conversion cycle (days) | 10.1 | -9.2 | 26.3 | 32.5 | 10.4 | 1.4 | -21.8 | -19.4 | -7.0 | -4.4 |
| Receivables turnover | 7.14 | 7.52 | 6.60 | 7.18 | 7.03 | 7.68 | 8.52 | 8.39 | 8.26 | 8.34 |
| Payables turnover | 5.46 | 3.60 | 4.03 | 5.63 | 4.81 | 5.50 | 4.38 | 4.52 | 5.30 | 5.73 |
| Inventory turnover | 14.16 | 8.37 | 5.94 | 7.86 | 10.61 | 18.09 | 19.47 | 20.43 | 20.66 | 23.42 |
| Asset turnover | 0.13 | 0.12 | 0.13 | 0.15 | 0.13 | 0.13 | 0.11 | 0.13 | 0.13 | 0.14 |
| Average receivables | $346.6M | $277.3M | $311.3M | $318.9M | $267.1M | $190.5M | $104.4M | $99.9M | $98.0M | $98.3M |
| Average payables | $267.3M | $239.9M | $230.0M | $215.9M | $185.2M | $126.2M | $76.1M | $68.2M | $53.2M | $51.9M |
| Average inventory | $103.2M | $103.3M | $156.2M | $154.6M | $84.0M | $38.4M | $17.1M | $15.1M | $13.7M | $12.7M |
| Intangibles / total assets | 11.8% | 13.0% | 13.9% | 14.9% | 16.0% | 17.0% | 0.7% | 0.8% | 0.7% | 0.7% |
Computed from WTRG's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
WTRG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Essential Utilities traded at 17.5 times earnings, against a 10-year median of 28.1. Based on the latest twelve months, the trailing P/E is 20.8 and the forward P/E is 16.8. Essential Utilities earned a return on equity of 9.4% and a return on invested capital of 6.3% in fiscal 2025. It ended the year with $8.3 billion of debt and $34.8 million in cash and short-term investments, net debt of $8.3 billion. It returned $376.1 million to shareholders: $373.8 million in dividends and $2.3 million in share buybacks. The share count rose 57.8% from 177.8M to 280.6M over 9 years.
See the WTRG income statement, the WTRG chart for price history, or the WTRG stock overview for the latest quote and news.
WTRG key metrics FAQ
What is Essential Utilities's P/E ratio?
Essential Utilities's trailing P/E ratio is 20.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.8. At the end of fiscal 2025 it was 17.5, compared with a 10-year median of 28.1.
What is Essential Utilities's EV/EBITDA?
Essential Utilities's enterprise value was 14.0 times EBITDA at the end of fiscal 2025 (enterprise value $19.1 billion, EBITDA $1.4 billion); the current EV/EBITDA is 14.6.
What is Essential Utilities's return on equity?
Essential Utilities's return on equity (ROE) was 9.4% in fiscal 2025: net income of $616.4 million on average shareholders' equity of $6.5 billion.
What is Essential Utilities's ROIC?
Essential Utilities's return on invested capital was 6.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Essential Utilities have?
Essential Utilities had total debt of $8.3 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.22 and $8.3 billion of net debt (6.08 times EBITDA).
What is Essential Utilities's dividend yield?
Essential Utilities's forward dividend yield is 3.53%. Essential Utilities paid $373.8 million in dividends in fiscal 2025 ($1.33 per share), a payout ratio of 60.6%.
Does Essential Utilities buy back its shares?
Yes. Essential Utilities spent $2.3 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.3% over the year, to 280.6M..
What is Essential Utilities's free cash flow yield?
Essential Utilities generated -$419.5 million of free cash flow in fiscal 2025, a free cash flow yield of −3.9% on its market value at year-end ($10.8 billion).
What is Essential Utilities's current ratio?
Essential Utilities's current ratio was 0.80 at the end of fiscal 2025: current assets were 0.80 times current liabilities.