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Unitil

UTL NYSE Electric Utilities Financials FY2016–FY2025

Unitil's revenue rose 8.3% to $536 million in fiscal 2025. Its operating margin was 18.9%, up from 18.3% a year earlier. Free cash flow was −$54 million. It paid out $30 million in dividends and buybacks. The diluted share count rose 4.2%.

Last close · Oct 23, 2026

$55.15

0.2%
Value it Compare
Revenue Total sales reported in the income statement.
$536M
8.3% vs prior year
Operating margin Operating income as a share of revenue.
18.9%
0.6 pts
Net income Profit after all expenses, interest and tax.
$50.2M
6.6%
Free cash flow Cash from operations minus capital spending.
−$53.8M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
5.6%
0.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$987M
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
17.4x
On $3.17 EPS (TTM)

What Unitil does

No business description yet.

Legal name
UNITIL CORPORATION
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-042983
0000755001

Revenue and margins

Unitil had $536M of revenue in fiscal 2025, up 8.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 4.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$53.8M in fiscal 2025, −10.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Unitil returned $30.1M to shareholders in fiscal 2025. The diluted share count rose 4.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Unitil yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$911M and divides by 16.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 17.4x · peers 21.7x · sector 20.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Unitil can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $6.5M$9.0M$6.5M$6.3M$15.6M
Debt incl. finance leases $570M$612M$677M$750M$927M
Debt / equity 1.3x1.3x1.4x1.5x1.5x
Interest coverage 2.9x2.8x2.5x2.4x2.3x
Current ratio 0.9x0.8x0.6x0.8x0.6x
Quick ratio 0.9x0.8x0.6x0.8x0.6x
Total assets $1.5B$1.6B$1.7B$1.8B$2.1B
Total liabilities $1.1B$1.1B$1.2B$1.3B$1.5B
Shareholders' equity $449M$468M$489M$513M$610M
Net debt (− = net cash) $564M$603M$670M$743M$911M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✓
F-score 4 / 84 / 84 / 8
Accruals ratio −3.8%−4.6%−4.1%
Altman Z'' 0.690.920.46

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Unitil UTL $987M 8.3% 18.9% −10.0% 5.6% 17.4x 4
MGE Energy MGEE $2.7B 9.9% 23.0% −10.8% 7.0% 18.8x 5 Compare →
Otter Tail OTTR $3.8B −2.3% 26.6% 7.5% 12.3% 19.5x 5 Compare →
Idacorp IDA $7.7B −1.2% 20.3% −33.1% 5.5% 23.8x 5 Compare →
TXNM Energy TXNM $6.6B 9.9% 20.4% −28.2% 4.8% 44.1x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $383M $406M $444M $438M $419M $473M $563M $557M $495M $536M
Operating income $70.2M $75.4M $71.2M $73.1M $71.4M $77.8M $80.5M $87.1M $90.6M $101M
Interest expense $23.7M $25.5M $26.4M $26.6M $26.4M $27.2M $28.3M $34.9M $37.7M $43.8M
Pretax income $42.5M $46.5M $41.4M $58.0M $42.4M $47.6M $52.6M $58.4M $61.1M $65.5M
Income tax $15.4M $17.5M $8.4M $13.8M $10.2M $11.5M $11.2M $13.2M $14.0M $15.3M
Net income $27.1M $29.0M $33.0M $44.2M $32.2M $36.1M $41.4M $45.2M $47.1M $50.2M
Diluted EPS $1.94 $2.06 $2.23 $2.97 $2.15 $2.35 $2.59 $2.82 $2.93 $2.97
Diluted shares 0.01B 0.01B 0.01B 0.01B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B
Cash flow
Cash from operations $68.3M $86.2M $78.5M $105M $75.7M $108M $97.7M $107M $126M $131M
Capital expenditure $98.1M $119M $102M $119M $123M $115M $122M $141M $170M $185M
Free cash flow −$29.8M −$33.1M −$23.9M −$14.3M −$46.9M −$7.2M −$24.4M −$34.0M −$44.0M −$53.8M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $160M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $20.0M $20.4M $21.8M $22.1M $22.6M $23.6M $25.1M $26.2M $27.5M $30.1M
Dividends and buybacks $20.0M $20.4M $21.8M $22.1M $22.6M $23.6M $25.1M $26.2M $27.5M $30.1M
Balance sheet
Cash and short-term investments $5.8M $8.9M $7.8M $5.2M $6.0M $6.5M $9.0M $6.5M $6.3M $15.6M
Total debt $416M $444M $489M $516M $586M $570M $612M $676M $749M $926M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.3M $0.2M $0.5M $0.5M $0.6M
Current assets $132M $151M $152M $131M $139M $160M $195M $177M $189M $240M
Current liabilities $177M $151M $193M $160M $136M $174M $260M $277M $229M $426M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $1.1B $1.2B $1.3B $1.4B $1.5B $1.5B $1.6B $1.7B $1.8B $2.1B
Total liabilities $835M $905M $947M $994M $1.1B $1.1B $1.1B $1.2B $1.3B $1.5B
Shareholders' equity $293M $337M $351M $377M $389M $449M $468M $489M $513M $610M
Margins
Operating margin 18.3% 18.6% 16.0% 16.7% 17.1% 16.4% 14.3% 15.6% 18.3% 18.9%
Net margin 7.1% 7.1% 7.4% 10.1% 7.7% 7.6% 7.4% 8.1% 9.5% 9.4%
FCF margin −7.8% −8.2% −5.4% −3.3% −11.2% −1.5% −4.3% −6.1% −8.9% −10.0%
Returns
Return on capital 6.7% 6.4% 7.1% 6.5% 5.8% 6.0% 6.1% 6.1% 5.8% 5.6%
Return on capital employed 7.6% 7.4% 6.5% 6.3% 5.6% 5.7% 6.0% 6.4% 6.1% 6.2%
Return on equity 9.4% 9.2% 9.6% 12.1% 8.4% 8.6% 9.0% 9.5% 9.4% 9.0%
Return on assets 2.5% 2.5% 2.6% 3.3% 2.3% 2.4% 2.6% 2.8% 2.7% 2.6%
Growth
Revenue growth −10.2% 6.0% 9.3% −1.3% −4.5% 13.1% 19.0% −1.1% −11.2% 8.3%
Net income growth 3.0% 7.0% 13.8% 33.9% −27.2% 12.1% 14.7% 9.2% 4.2% 6.6%
EPS growth 2.7% 6.2% 8.3% 33.2% −27.6% 9.3% 10.2% 8.9% 3.9% 1.4%
FCF growth −366.1% — — — — — — — — —
Share count change 0.6% 0.8% 5.2% 0.5% 0.4% 2.8% 4.0% 0.4% 0.4% 4.2%
Financial health
Debt / equity 1.4x 1.3x 1.4x 1.4x 1.5x 1.3x 1.3x 1.4x 1.5x 1.5x
Interest coverage 3.0x 3.0x 2.7x 2.8x 2.7x 2.9x 2.8x 2.5x 2.4x 2.3x
Current ratio 0.7x 1.0x 0.8x 0.8x 1.0x 0.9x 0.8x 0.6x 0.8x 0.6x
Quick ratio 0.7x 1.0x 0.8x 0.8x 1.0x 0.9x 0.8x 0.6x 0.8x 0.6x
Capital allocation
Capex / revenue 25.6% 29.4% 23.1% 27.2% 29.3% 24.3% 21.7% 25.3% 34.3% 34.5%
Quality scores
Piotroski F-score 3.0 5.0 4.0 5.0 4.0 6.0 5.0 4.0 4.0 4.0
Altman Z'' 0.7 1.0 0.7 0.8 0.9 1.0 0.8 0.7 0.9 0.5
Accruals ratio −3.8% −4.8% −3.6% −4.6% −3.1% −4.8% −3.6% −3.8% −4.6% −4.1%

Source: SEC EDGAR XBRL filings (CIK 0000755001). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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