Chesapeake Utilities
CPK · Gas Utilities
$134.28
0.1%Southwest Gas
SWX · Gas Utilities
$91.15
0.1%The short version
- Southwest Gas is the larger business, with $1.9B of revenue in fiscal 2025 against $930M for Chesapeake Utilities, about 2.1 times as much.
- Chesapeake Utilities grew revenue faster (18.1%, against −21.6%).
- Chesapeake Utilities kept more of each dollar of sales as operating profit (27.5% operating margin, against 24.4% operating margin).
- Southwest Gas turned more of its sales into free cash flow (−13.0% FCF margin, against −23.1% FCF margin).
- Chesapeake Utilities earned a higher return on the capital invested in it (6.1%, against 4.7%).
- Investors pay more for each dollar of Chesapeake Utilities’s earnings: a P/E of 22.5x against 12.1x for Southwest Gas.
| Latest fiscal year | CPK · FY25 | SWX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.2B | $6.6B |
| Revenue | $930M | $1.9B |
| Free cash flow | −$215M | −$252M |
| Net income | $140M | $440M |
| Growth | ||
| Revenue growth | 18.1% | −21.6% |
| 5-year growth | 13.8% | −10.1% |
| Share count change | 4.3% | 0.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 27.5% | 24.4% |
| Net margin | 15.1% | 22.7% |
| FCF margin | −23.1% | −13.0% |
| Return on capital | 6.1% | 4.7% |
| Return on equity | 9.4% | 11.8% |
| Balance sheet | ||
| Net debt | $1.7B | $2.9B |
| Net debt / EBITDA | 4.8x | 3.6x |
| Dividends and buybacks | $60.7M | $179M |
| Valuation & quality | ||
| P/E | 22.5x | 12.1x |
| Piotroski F-score | 5 | 6 |
FY16
CPK $499M
SWX $2.5B
FY17
CPK $450M
SWX $2.5B
FY18
CPK $490M
SWX $2.9B
FY19
CPK $480M
SWX $3.1B
FY20
CPK $488M
SWX $3.3B
FY21
CPK $570M
SWX $3.7B
FY22
CPK $681M
SWX $5.0B
FY23
CPK $671M
SWX $2.5B
FY24
CPK $787M
SWX $2.5B
FY25
CPK $930M
SWX $1.9B
CPK
SWX
FY16
CPK 17.2%
SWX 12.8%
FY17
CPK 20.0%
SWX 13.5%
FY18
CPK 19.3%
SWX 12.4%
FY19
CPK 22.2%
SWX 11.9%
FY20
CPK 23.1%
SWX 12.8%
FY21
CPK 23.0%
SWX 10.0%
FY22
CPK 21.0%
SWX −0.5%
FY23
CPK 22.5%
SWX 11.6%
FY24
CPK 29.0%
SWX 16.4%
FY25
CPK 27.5%
SWX 24.4%
CPK
SWX
FY16
CPK −$65.7M
SWX $71.0M
FY17
CPK −$65.2M
SWX −$254M
FY18
CPK −$123M
SWX −$237M
FY19
CPK −$81.8M
SWX −$438M
FY20
CPK −$6.6M
SWX −$199M
FY21
CPK −$36.4M
SWX −$604M
FY22
CPK $30.6M
SWX −$452M
FY23
CPK $14.9M
SWX −$257M
FY24
CPK −$116M
SWX $509M
FY25
CPK −$215M
SWX −$252M
CPK
SWX
FY16
CPK 7.1%
SWX —
FY17
CPK 8.3%
SWX 7.3%
FY18
CPK 6.7%
SWX 6.5%
FY19
CPK 6.5%
SWX 6.2%
FY20
CPK 6.3%
SWX 6.3%
FY21
CPK 6.6%
SWX 5.7%
FY22
CPK 6.5%
SWX −0.4%
FY23
CPK 5.4%
SWX 3.5%
FY24
CPK 6.1%
SWX 4.4%
FY25
CPK 6.1%
SWX 4.7%
CPK
SWX
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.