“Depreciation and amortization expense increased by $21,125 or 10.4% principally due to continued capital expenditures to expand and improve our utility facilities and our acquisitions of new water and wastewater utility systems.”10-Q · Aug 5, 2026 ↗
Essential Utilities, Inc.
WTRG
Market read
Essential Utilities, Inc.'s move is spreading beyond its market group.
The latest filing is mixed. 7 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Revenue increased 3.1% versus the comparable filing period.
- Net margin fell 1.0 percentage points.
- At least 8 of 12 durable members become active together.
- Capital-flow agreement rises above 55%.
- TPL remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 4 of 12 members or fewer.
Research brief
The story so far
The latest filing is mixed. 7 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Revenue increased 3.1% versus the comparable filing period.
- Net margin fell 1.0 percentage points.
- At least 8 of 12 durable members become active together.
- Capital-flow agreement rises above 55%.
- TPL remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +18.6% year over year.
- Operating cash flow covered net income at 1.64x in the latest annual period.
- Capital investment and capacity has repeated favorable evidence across 5 filings.
- Credit and interest rates has repeated favorable evidence across 5 filings.
- Energy and commodity prices has repeated favorable evidence across 5 filings.
- Net margin changed -3.6 percentage points in the latest annual period.
- Diluted shares increased 2.3% in the latest annual period.
- P/E is 21% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 51% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
41.81Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Interest expense, net, increased by $3,850 or 7.4% due to higher push down debt borrowings of the Regulated Natural Gas segment from Essential Utilities, Inc, which is primarily used to fund capital projects.”10-Q · Aug 5, 2026 ↗
“Taxes other than income taxes increased by $3,270 or 39.7% primarily due to the absence of a prior year benefit from favorable sales and use tax accrual adjustment amounting to $2,709 in the Regulated Natural Gas segment following the closure of a sales and u…”10-Q · Aug 5, 2026 ↗
“Aside from DELCORA, closings for these acquisitions, which occurred or are expected to occur in 2026, are subject to the timing of the various regulatory approval processes and are expected to add approximately 5,000 equivalent retail customers in two of the…”10-K · Feb 26, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 4.7× · EV/sales 8.0×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for WTRG. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
The latest filing presents a mixed picture
10-Q filed 2026-08-05 against the comparable filing from 2025-08-04.
Capital and cash conversion
Reported investment and cash context
- Stock compensation / revenue
- +1.4%
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Revenue increased 3.1% versus the comparable filing period.
What weakened
- Net margin fell 1.0 percentage points.
Filing receipts
“Taxes other than income taxes increased by $6,682 or 15.3% primarily due to a prior year sales and use tax accrual benefit in our Regulated Natural segment, increase in our Illinois subsidiary’s invested capital tax expense, and an increase in payroll taxes as a result of higher employee compensation expense.”
“Depreciation and amortization expense increased by $21,125 or 10.4% principally due to continued capital expenditures to expand and improve our utility facilities and our acquisitions of new water and wastewater utility systems.”
“Depreciation and amortization expense increased by $9,773 or 9.4% principally due to continued capital expenditures to expand and improve our utility facilities and our acquisitions of new water and wastewater utility systems.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind WTRG
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
AWKAmerican Water Works Company, Inc.partnerFeb 26, 2026 ▾
“1 Table of Contents On October 26, 2025, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with American Water Works Company, Inc.”
CHCOCity Holding CompanydistributorFeb 26, 2026 ▾
“The system serves approximately 3,200 customers in the City of Beaver Falls and also provides bulk transmission and treatment service for approximately 3,800 equivalent dwelling units in seven nearby municipalities.”
CHCOCity Holding CompanyinvesteeAug 4, 2025 ▾
“In July 2025, the Company acquired the wastewater utility system of the City of Beaver Falls, Pennsylvania for $37,750.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
WTRG is currently a Early Follower in the organic co-movement group Regulated Water Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.