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Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through two segments, Utility Electric Operations and Utility Gas Operations. The company distributes electricity in the southeastern seacoast and state capital regions of New Hampshire, and the greater Fitchburg area of north central Massachusetts; and distributes natural gas in southeastern New Hampshire and portions of southern and central Maine, including the city of Portland and the Lewiston-Auburn area; greater Bangor area of central Maine; and capital city of Augusta, as well as electricity and natural gas in the greater Fitchburg area of north central Massachusetts. It also operates 85 miles of interstate underground natural gas transmission pipeline that provides interstate natural gas pipeline access and transportation services primarily in Maine and New Hampshire. In addition, the company provides real estate management services. It serves approximately 110,100 electric customers and 105,000 natural gas customers. Unitil Corporation was incorporated in 1984 and is headquartered in Hampton, New Hampshire.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $536M | $198M | $50M | $-54M | 8.2% | 8.3% | 6.6% |
| 2024 | $495M | $175M | $47M | $-44M | 9.2% | -11.2% | 4.2% |
| 2023 | $557M | $161M | $45M | $-34M | 9.2% | -1.1% | 9.2% |
| 2022 | $563M | $144M | $41M | $-24M | 8.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 563.20 | 557.10 | 494.80 | 536 |
| Operating Revenue | - | 563.20 | 557.10 | 494.80 | 536 |
| Cost Of Revenue | - | 394.20 | 374.10 | 298.20 | 314.80 |
| Gross Profit | - | 169 | 183 | 196.60 | 221.20 |
| Operating Expense | - | 88.50 | 95.90 | 106 | 120 |
| Total Expenses | - | 482.70 | 470 | 404.20 | 434.80 |
| Operating Income | - | 80.50 | 87.10 | 90.60 | 101.20 |
| Total Operating Income As Reported | - | 80.50 | 87.10 | 90.60 | 101.20 |
| EBITDA | - | 143.50 | 160.70 | 174.90 | 198 |
| Normalized EBITDA | - | 143.50 | 160.70 | 174.90 | 198 |
| EBIT | - | 80.90 | 93.30 | 98.80 | 109.30 |
| Interest Income | - | 2.80 | 6.20 | 8.40 | 7.10 |
| Interest Expense | - | 28.30 | 34.90 | 37.70 | 43.80 |
| Net Interest Income | - | -25.50 | -28.70 | -29.30 | -36.70 |
| Other Non Operating Income Expenses | -4.60 | -2.40 | - | -0.20 | 1 |
| Other Income Expense | -4.60 | -2.40 | - | -0.20 | 1 |
| Interest Income Non Operating | - | 2.80 | 6.20 | 8.40 | 7.10 |
| Interest Expense Non Operating | - | 28.30 | 34.90 | 37.70 | 43.80 |
| Net Non Operating Interest Income Expense | - | -25.50 | -28.70 | -29.30 | -36.70 |
| Pretax Income | - | 52.60 | 58.40 | 61.10 | 65.50 |
| Tax Provision | - | 11.20 | 13.20 | 14 | 15.30 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 41.40 | 45.20 | 47.10 | 50.20 |
| Net Income From Continuing And Discontinued Operation | - | 41.40 | 45.20 | 47.10 | 50.20 |
| Net Income From Continuing Operation Net Minority Interest | - | 41.40 | 45.20 | 47.10 | 50.20 |
| Net Income | - | 41.40 | 45.20 | 47.10 | 50.20 |
| Net Income Common Stockholders | - | 41.40 | 45.20 | 47.10 | 50.20 |
| Net Income Including Noncontrolling Interests | - | 41.40 | 45.20 | 47.10 | 50.20 |
| Normalized Income | - | 41.40 | 45.20 | 47.10 | 50.20 |
| Diluted NI Availto Com Stockholders | - | 41.40 | 45.20 | 47.10 | 50.20 |
| Basic Average Shares | - | 15.99 | 16.05 | 16.10 | 16.79 |
| Diluted Average Shares | - | 16 | 16.05 | 16.11 | 16.79 |
| Reconciled Depreciation | - | 62.60 | 67.40 | 76.10 | 88.70 |
| Reconciled Cost Of Revenue | - | 394.20 | 374.10 | 298.20 | 314.80 |
| Depreciation Amortization Depletion Income Statement | - | 62.60 | 67.40 | 76.10 | 88.70 |
| Depreciation And Amortization In Income Statement | - | 62.60 | 67.40 | 76.10 | 88.70 |
| Other Taxes | - | 25.90 | 28.50 | 29.90 | 31.30 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Unitil Corporationthis co. | UTL | $902M | 17.97↓ discount | 1.48 | 8.2% | 9.19 |
| Middlesex Water Company | MSEX | $976M | 22.78 | 1.97 | 8.7% | 14.71 |
| Consolidated Water Co. Ltd. | CWCO | $481M | 26.23 | 2.17 | 8.3% | 12.42 |
| The York Water Company | YORW | $480M | 23.92 | 2.00 | 8.3% | 16.28 |
| OPAL Fuels Inc. | OPAL | $404M | 27.36 |
| - |
| - |
| - |
| - |
| - |
| -31.22 |
| -114.1% |
| 21.25 |
| Cadiz Inc. | CDZI | $383M | -11.23 | 16.49 | -146.9% | -20.46 |
| Genie Energy Ltd. | GNE | $365M | 15.20 | 1.45 | 9.6% | 4.50 |
| Pure Cycle Corporation | PCYO | $249M | 18.97 | 1.74 | 9.2% | 11.57 |
| RGC Resources, Inc. | RGCO | $233M | 17.55 | 2.05 | 11.7% | 10.73 |
| Peer Median | - | 20.88 | 1.99 | 8.5% | 11.99 | |