UNITIL CORP UTL
Unitil and its subsidiaries are subject to regulation as a holding company system by the Federal Energy Regulatory Commission (FERC) under the Energy Policy Act of 2005.
Unitil's principal business is the local distribution of electricity and natural gas to approximately 215,100 customers throughout its service territories in the states of New Hampshire, Massachusetts and Maine. Unitil is the parent company of five wholly-owned distribution utilities: i) Unitil Energy, which provides electric service in the southeastern seacoast and state capital regions of New Hampshire, including the capital city of Concord, ii) Fitchburg, which provides both electric and natural gas service in the greater Fitchburg area of north central Massachusetts, iii) Northern Utilities, which provides natural gas service in southeastern New Hampshire and portions of southern and central Maine, including the city of Portland, which is the largest city in northern New England, iv) Bangor, which provides natural gas service in the Bangor area of central Maine, and v) Maine Natural, which provides natural gas service in southern and central Maine, including the greater Portland region, as well as the capital city of Augusta. In addition, Unitil is the parent company of Granite State, an interstate natural gas transmission pipeline company that provides interstate natural gas pipeline access and transportation services to Northern Utilities in its New Hampshire and Maine service territory. Together, Unitil's five distribution utilities serve approximately 110,100 electric customers and 105,000 natural gas customers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $536.0M | $494.8M | $557.1M | $563.2M | $473.3M | $418.6M | $438.2M | $444.1M | $406.2M | $383.4M |
| Operating income | $101.2M | $90.6M | $87.1M | $80.5M | $77.8M | $71.4M | $73.1M | $71.2M | $75.4M | $70.2M |
| Interest expense | $43.8M | $37.7M | $34.9M | $28.3M | $27.2M | $26.4M | $26.6M | $26.4M | $25.5M | $23.7M |
| Pre-tax income | $65.5M | $61.1M | $58.4M | $52.6M | $47.6M | $42.4M | $58.0M | $41.4M | $46.5M | $42.5M |
| Income tax | $15.3M | $14.0M | $13.2M | $9.4M | $11.5M | $10.2M | $13.8M | $8.4M | $17.5M | $15.4M |
| Net income | $50.2M | $47.1M | $45.2M | $41.4M | $36.1M | $32.2M | $44.2M | $33.0M | $29.0M | $27.1M |
| EPS, basic | 2.97 | 2.93 | 2.82 | 2.59 | 2.35 | 2.15 | — | — | — | — |
| EPS, diluted | 2.97 | 2.93 | 2.82 | 2.59 | 2.35 | 2.15 | 2.97 | 2.23 | 2.06 | 1.94 |
| Shares, diluted (wtd. avg.) | $16.8M | $16.1M | $16.1M | $16.0M | $15.4M | $15.0M | $14.9M | $14.8M | $14.1M | $14.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $15.6M | $6.3M | $6.5M | $9.0M | $6.5M | $6.0M | $5.2M | $7.8M | $8.9M | $5.8M |
| Receivables | $98.6M | $75.0M | $75.0M | $73.8M | $66.9M | $62.0M | $55.1M | $66.8M | $67.4M | $52.9M |
| Total current assets | $240.1M | $188.8M | $177.1M | $194.8M | $159.7M | $139.3M | $130.9M | $152.2M | $151.3M | $131.6M |
| Goodwill | $4.3M | $0 | — | — | — | — | — | — | — | — |
| Total assets | $2.13B | $1.79B | $1.67B | $1.59B | $1.54B | $1.48B | $1.37B | $1.30B | $1.24B | $1.13B |
| Accounts payable | $62.9M | $49.7M | $47.7M | $68.6M | $52.4M | $33.2M | $37.6M | $42.6M | $41.5M | $32.4M |
| Short-term debt | $37.9M | $4.9M | $4.9M | $6.7M | $8.2M | $8.5M | $19.5M | $18.4M | $29.8M | $16.8M |
| Total current liabilities | $425.8M | $228.7M | $277.3M | $260.1M | $173.5M | $136.1M | $159.8M | $192.5M | $151.0M | $176.9M |
| Long-term debt | $632.6M | $638.4M | $509.1M | $489.1M | $497.8M | $523.1M | $437.5M | $387.4M | $376.3M | $316.8M |
| Retained earnings | $191.2M | $171.1M | $151.5M | $132.5M | $116.2M | $103.7M | $94.1M | $72.0M | $60.8M | $52.2M |
| Total equity | $609.6M | $512.5M | $489.3M | $467.6M | $448.5M | $389.2M | $376.8M | $351.3M | $336.8M | $293.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $131.3M | $125.9M | $107.0M | $97.7M | $107.8M | $75.7M | $104.9M | $78.5M | $86.2M | $68.3M |
| Capital expenditure | $185.1M | $169.9M | $141.0M | $122.1M | $115.0M | $122.6M | $119.2M | $102.4M | $119.3M | $98.1M |
| Investing cash flow | -$345.5M | -$169.9M | -$141.0M | -$122.1M | -$115.0M | -$122.6M | -$105.8M | -$102.4M | -$119.3M | -$98.1M |
| Financing cash flow | $223.5M | $43.8M | $31.5M | $26.9M | $7.7M | $47.7M | -$1.7M | $22.8M | $36.2M | $26.9M |
| Dividends paid | $30.1M | $27.5M | $26.2M | $25.1M | $23.6M | $22.6M | $22.1M | $21.8M | $20.4M | $20.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-042983.
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