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H2O America vs Essential Utilities: revenue, profit, margins and growth compared

H2O America brought in $805.6M of revenue in fiscal 2025, Essential Utilities $2.5B in fiscal 2025. Revenue changed by +7.6% at H2O America and +18.6% at Essential Utilities on the year before, so Essential Utilities grew faster. H2O America kept 12.7% of its revenue as net profit, Essential Utilities 24.9%.

Side by side, latest fiscal year

HTOWTRG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$805.6M$2.5B
Revenue growth+7.6%+18.6%
Net income$102.6M$616.4M
Net margin12.7%24.9%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)$2.92$2.20
Cash$20.7M$34.8M
Debt$1.9B$8.1B
Price to earnings21.318.0
Market value$2.6B$11.2B
Dividend yield2.70%3.38%
Rank by revenue in sector#83 of 109 · Utilities#54 of 109 · Utilities

Over the years

Revenue
HTO FY2018: $397.7MHTO FY2019: $447.7MHTO FY2020: $564.5MHTO FY2021: $573.7MHTO FY2022: $620.7MHTO FY2023: $678.2MHTO FY2024: $748.4MHTO FY2025: $805.6MWTRG FY2018: $838.1MWTRG FY2019: $889.7MWTRG FY2020: $1.5BWTRG FY2021: $1.9BWTRG FY2022: $2.3BWTRG FY2023: $2.1BWTRG FY2024: $2.1BWTRG FY2025: $2.5BFY18FY19FY20FY21FY22FY23FY24FY25
HTO $805.6MWTRG $2.5B
Net income
HTO FY2018: $38.8MHTO FY2019: $23.4MHTO FY2020: $61.5MHTO FY2021: $60.5MHTO FY2022: $73.8MHTO FY2023: $85MHTO FY2024: $94MHTO FY2025: $102.6MWTRG FY2018: $192MWTRG FY2019: $224.5MWTRG FY2020: $284.8MWTRG FY2021: $431.6MWTRG FY2022: $465.2MWTRG FY2023: $498.2MWTRG FY2024: $595.3MWTRG FY2025: $616.4MFY18FY19FY20FY21FY22FY23FY24FY25
HTO $102.6MWTRG $616.4M
Net margin
HTO FY2018: 9.7%HTO FY2019: 5.2%HTO FY2020: 10.9%HTO FY2021: 10.5%HTO FY2022: 11.9%HTO FY2023: 12.5%HTO FY2024: 12.6%HTO FY2025: 12.7%WTRG FY2018: 22.9%WTRG FY2019: 25.2%WTRG FY2020: 19.5%WTRG FY2021: 23.0%WTRG FY2022: 20.3%WTRG FY2023: 24.3%WTRG FY2024: 28.5%WTRG FY2025: 24.9%FY18FY19FY20FY21FY22FY23FY24FY25
HTO 12.7%WTRG 24.9%
Revenue growth
HTO FY2019: +12.6%HTO FY2020: +26.1%HTO FY2021: +1.6%HTO FY2022: +8.2%HTO FY2023: +9.3%HTO FY2024: +10.4%HTO FY2025: +7.6%WTRG FY2019: +6.2%WTRG FY2020: +64.4%WTRG FY2021: +28.4%WTRG FY2022: +21.8%WTRG FY2023: -10.2%WTRG FY2024: +1.6%WTRG FY2025: +18.6%FY19FY20FY21FY22FY23FY24FY25
HTO +7.6%WTRG +18.6%

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

Questions about H2O America and Essential Utilities

Which is bigger by revenue, H2O America or Essential Utilities?

Essential Utilities is bigger by revenue: $2.5B in fiscal 2025, against $805.6M for H2O America in fiscal 2025.

Which keeps more of its revenue as profit, H2O America or Essential Utilities?

H2O America had a net margin of 12.7% in fiscal 2025; Essential Utilities had 24.9% in fiscal 2025.

Which grew revenue faster, H2O America or Essential Utilities?

In their latest fiscal years revenue changed by +7.6% at H2O America and +18.6% at Essential Utilities.

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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