Chesapeake Utilities vs Southwest Gas
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KIRA’s take AI analyst
I put Chesapeake Utilities and Southwest Gas side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
- Southwest Gas turned more of its sales into free cash flow (−13.0% FCF margin, against −23.1%).
- Chesapeake Utilities earned a higher return on the capital invested in it (6.1%, against 4.7%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Chesapeake Utilities
CPK
4/10
Revenue growth5-year growthOperating marginReturn on capital
Southwest Gas
SWX
6/10
Net marginFCF marginReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | CPK FY25 | SWX FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.2B | $6.7B |
| 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 | — | 12.2x |
| Piotroski F-score | 5 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

