HTO vs WTRG: H2O America and Essential Utilities compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Essential Utilities is the larger company, worth $10.8B, about 4.4 times H2O America.
- H2O America grew revenue faster over the last year (+9.4% vs +3.1%).
- Essential Utilities keeps more of each dollar of revenue as operating profit (35.1% vs 21.9%).
- On earnings, Essential Utilities is the cheaper stock (19.5x vs 20.2x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HTO | WTRG |
|---|---|---|
| Market cap | $2.5B | $10.8B |
| Share price | $58.48 | $38.98 |
| Revenue (last fiscal year) | $801M | $2.5B |
| Free cash flow (last fiscal year) | — | — |
| Revenue growth, last year | +9.4% | +3.1% |
| Revenue growth per year, last 5 fiscal years | +8.7% | +7.1% |
| Operating margin | 21.9% | 35.1% |
| Net margin | 12.9% | 21.6% |
| Return on equity | 5.7% | 7.9% |
| P/E (trailing) | 20.2x | 19.5x |
| Price / free cash flow | — | — |
| EV / EBITDA | 13.3x | 14.0x |
| FCF growth the price implies | — | — |
| Dividend yield | 2.9% | 3.5% |
| Debt / equity | 1.92x | 1.84x |
| Fundamental grade | C | C |
| Superinvestors holding it | 0 | 4 |
| Insider purchases, last 12 months | 2 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
H2O America
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $574M | — | 19.4% |
| 2022 | $621M | — | 21.1% |
| 2023 | $670M | — | 22.3% |
| 2024 | $748M | — | 22.8% |
| 2025 | $801M | — | 22.2% |
Essential Utilities
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.9B | — | 32.1% |
| 2022 | $2.3B | — | 28.9% |
| 2023 | $2.1B | — | 33.7% |
| 2024 | $2.1B | — | 36.3% |
| 2025 | $2.5B | — | 37.2% |
Where the revenue comes from
H2O America
No segment breakdown reported.
Essential Utilities · by segments, 2025
Regulated Water$1.3B54%
Regulated Natural Gas$1.1B45%
Other And Eliminations$33M1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HTO in InvestinglyQuestions
Which is bigger, H2O America or Essential Utilities?
Essential Utilities (WTRG), at $10.8B against $2.5B.
Is HTO or WTRG cheaper?
By trailing P/E, Essential Utilities (19.5x) is cheaper than H2O America (20.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, HTO or WTRG?
H2O America: revenue grew +9.4% over the last year, against +3.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.