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Chesapeake Utilities vs Southwest Gas: revenue, profit, margins and growth compared

Chesapeake Utilities brought in $930M of revenue in fiscal 2025, Southwest Gas $1.9B in fiscal 2025. Revenue changed by +18.1% at Chesapeake Utilities and -21.6% at Southwest Gas on the year before, so Chesapeake Utilities grew faster. Chesapeake Utilities kept 15.1% of its revenue as net profit, Southwest Gas 22.7%. Free cash flow was -$214.9M at Chesapeake Utilities and -$251.8M at Southwest Gas.

Side by side, latest fiscal year

CPKSWX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$930M$1.9B
Revenue growth+18.1%-21.6%
Net income$140.3M$439.8M
Net margin15.1%22.7%
Free cash flow-$214.9M-$251.8M
Free cash flow margin-23.1%-13.0%
Earnings per share (diluted)$5.97$6.08
Cash$1.8M$576.6M
Debt$1.5B$3.5B
Price to earnings21.613.6
Market value$3.1B$6B
Dividend yield2.09%3.01%
Rank by revenue in sector#81 of 109 · Utilities#60 of 109 · Utilities

Over the years

Revenue
CPK FY2018: $490.3MCPK FY2019: $479.6MCPK FY2020: $488.2MCPK FY2021: $570MCPK FY2022: $680.7MCPK FY2023: $670.6MCPK FY2024: $787.2MCPK FY2025: $930MSWX FY2018: $2.9BSWX FY2019: $3.1BSWX FY2020: $3.3BSWX FY2021: $3.7BSWX FY2022: $5BSWX FY2023: $5.4BSWX FY2024: $2.5BSWX FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
CPK $930MSWX $1.9B
Net income
CPK FY2018: $56.6MCPK FY2019: $65.2MCPK FY2020: $71.5MCPK FY2021: $83.5MCPK FY2022: $89.8MCPK FY2023: $87.2MCPK FY2024: $118.6MCPK FY2025: $140.3MSWX FY2018: $182.3MSWX FY2019: $213.9MSWX FY2020: $232.3MSWX FY2021: $200.8MSWX FY2022: -$203.3MSWX FY2023: $150.9MSWX FY2024: $198.8MSWX FY2025: $439.8MFY18FY19FY20FY21FY22FY23FY24FY25
CPK $140.3MSWX $439.8M
Net margin
CPK FY2018: 11.5%CPK FY2019: 13.6%CPK FY2020: 14.6%CPK FY2021: 14.6%CPK FY2022: 13.2%CPK FY2023: 13.0%CPK FY2024: 15.1%CPK FY2025: 15.1%SWX FY2018: 6.3%SWX FY2019: 6.9%SWX FY2020: 7.0%SWX FY2021: 5.5%SWX FY2022: -4.1%SWX FY2023: 2.8%SWX FY2024: 8.0%SWX FY2025: 22.7%FY18FY19FY20FY21FY22FY23FY24FY25
CPK 15.1%SWX 22.7%
Revenue growth
CPK FY2019: -2.2%CPK FY2020: +1.8%CPK FY2021: +16.7%CPK FY2022: +19.4%CPK FY2023: -1.5%CPK FY2024: +17.4%CPK FY2025: +18.1%SWX FY2019: +8.3%SWX FY2020: +5.7%SWX FY2021: +11.6%SWX FY2022: +34.8%SWX FY2023: +9.6%SWX FY2024: -54.4%SWX FY2025: -21.6%FY19FY20FY21FY22FY23FY24FY25
CPK +18.1%SWX -21.6%
Free cash flow
CPK FY2018: -$123MCPK FY2019: -$81.8MCPK FY2020: -$6.6MCPK FY2021: -$36.4MCPK FY2022: $30.6MCPK FY2023: $14.9MCPK FY2024: -$115.9MCPK FY2025: -$214.9MSWX FY2018: -$237.1MSWX FY2019: -$437.8MSWX FY2020: -$199MSWX FY2021: -$604.2MSWX FY2022: -$452MSWX FY2023: -$256.7MSWX FY2024: $509.2MSWX FY2025: -$251.8MFY18FY19FY20FY21FY22FY23FY24FY25
CPK -$214.9MSWX -$251.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Chesapeake Utilities and Southwest Gas

Which is bigger by revenue, Chesapeake Utilities or Southwest Gas?

Southwest Gas is bigger by revenue: $1.9B in fiscal 2025, against $930M for Chesapeake Utilities in fiscal 2025.

Which keeps more of its revenue as profit, Chesapeake Utilities or Southwest Gas?

Chesapeake Utilities had a net margin of 15.1% in fiscal 2025; Southwest Gas had 22.7% in fiscal 2025.

Which grew revenue faster, Chesapeake Utilities or Southwest Gas?

In their latest fiscal years revenue changed by +18.1% at Chesapeake Utilities and -21.6% at Southwest Gas.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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