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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| NextEra Energy | United States of America | Utilities, Energy Exploration & Generation | $85 | $268B | 9.6x | 16.4x |
| Duke Energy | United States of America | Utilities | $119 | $182B | 5.7x | 12.1x |
| Southern Company | United States of America | Utilities | $88 | $167B | 5.9x | 12.9x |
| Constellation Energy | United States of America | Utilities, Energy Exploration & Generation | $361 | $118B | 5.0x | 22.8x |
| American Electric Power | United States of America | Utilities | $118 | $110B | 5.2x | 12.5x |
| Dominion Energy | United States of America | Utilities | $60 | $99.9B | 6.3x | 13.3x |
| PG&E | United States of America | Utilities | $15 | $94.4B | 3.7x | 9.3x |
| Exelon | United States of America | Utilities | $45 | $93.3B | 3.9x | 10.7x |
| Sempra | United States of America | Energy Services, Utilities | $91 | $91.9B | 6.5x | 15.8x |
| Xcel Energy | United States of America | Utilities | $78 | $80.8B | 5.5x | 13.5x |
| Vistra | United States of America | Energy Exploration & Generation, Nuclear, Solar, Energy Storage, Utilities | $172 | $77.5B | 4.0x | 13.2x |
| Entergy | United States of America | Utilities | $94 | $71.0B | 5.6x | 12.6x |
| PSEG | United States of America | Utilities | $81 | $63.4B | 5.5x | 13.8x |
| Edison International | United States of America | Utilities | $57 | $62.8B | 3.4x | 7.4x |
| Consolidated Edison | United States of America | Utilities | $96 | $61.3B | 3.8x | 11.1x |
| WEC Energy Group | United States of America | Utilities | $107 | $56.1B | 6.0x | 13.9x |
| Eversource Energy | United States of America | Utilities | $66 | $54.3B | 4.3x | 11.0x |
| DTE Energy | United States of America | Utilities | $133 | $52.9B | 3.9x | 12.4x |
| FirstEnergy | United States of America | Utilities | $45 | $52.2B | 3.7x | 11.5x |
| Ameren | United States of America | Utilities | $101 | $47.5B | 5.9x | 13.0x |
| CenterPoint Energy | United States of America | Utilities | $38 | $46.7B | 5.1x | 12.7x |
| NRG Energy | United States of America | Utilities, Energy Services, Energy Exploration & Generation | $167 | $44.0B | 1.5x | 10.9x |
| PPL Corp. | United States of America | Utilities | $35 | $43.6B | 5.0x | 12.0x |
| Cheniere Energy Partners | United States of America | Utilities, Fossil Fuels | $55 | $41.1B | 3.9x | 11.3x |
| American Water Works Co | United States of America | Utilities, Water | $131 | $40.8B | 8.1x | 14.4x |
| CMS Energy | United States of America | Utilities | $72 | $39.9B | 4.9x | 13.1x |
| AES | United States of America | Utilities, Energy Exploration & Generation | $14 | $38.9B | 3.2x | 14.0x |
| Atmos Energy | United States of America | Utilities, Energy Services | $171 | $36.8B | 7.6x | 15.5x |
| NiSource | United States of America | Utilities, Energy Services | $42 | $35.5B | 5.8x | 12.4x |
| Evergy | United States of America | Utilities | $74 | $31.8B | 5.3x | 11.7x |
| Alliant Energy | United States of America | Utilities | $66 | $28.2B | 6.8x | 14.8x |
| Pinnacle West Capital | United States of America | Utilities | $89 | $24.8B | 4.7x | 12.4x |
| Talen Energy | United States of America | Energy Exploration & Generation, Utilities | $365 | $19.2B | 8.3x | 19.9x |
| Essential Utilities | United States of America | Utilities, Water, Energy Services | $39 | $18.9B | 8.1x | 15.3x |
| OGE Energy | United States of America | Utilities | $44 | $15.0B | 4.8x | 10.8x |
| UGI | United States of America | Utilities, Water | $38 | $14.9B | 2.0x | N/A |
| Oklo | United States of America | Energy Exploration & Generation, Utilities | $97 | $14.2B | N/A | -150.7x |
| Clearway Energy | United States of America | Utilities | $34 | $13.0B | 9.2x | 10.6x |
| Nextpower | United States of America | Solar, Energy & Utilities Software | $88 | $12.5B | 3.8x | 15.8x |
| TXNM Energy | United States of America | Utilities | $58 | $12.0B | 5.6x | 12.8x |
| Portland General Electric | United States of America | Utilities | $49 | $10.4B | 2.9x | 9.0x |
| Spire | United States of America | Energy Services, Utilities | $84 | $10.4B | 4.1x | 12.2x |
| Idacorp | United States of America | Utilities | $128 | $10.3B | 5.4x | 16.3x |
| Black Hills | United States of America | Utilities, Energy Services, Energy Exploration & Generation | $71 | $9.7B | 4.2x | 10.7x |
| New Fortress Energy | United States of America | Utilities, Energy Services | $1 | $9.6B | 4.8x | 80.5x |
| Southwest Gas Holdings | United States of America | Utilities, Energy Services | $80 | $8.5B | 2.2x | 10.0x |
| New Jersey Resources | United States of America | Energy Services, Utilities | $46 | $8.4B | 4.1x | 12.0x |
| ONE Gas | United States of America | Utilities, Energy Services | $80 | $8.2B | 3.3x | 10.7x |
| NorthWestern Energy | United States of America | Utilities, Energy Exploration & Generation | $67 | $7.4B | 4.6x | 11.8x |
| Avista | United States of America | Energy Exploration & Generation, Utilities | $39 | $6.3B | 3.2x | N/A |
| ALLETE | United States of America | Utilities, Energy Exploration & Generation | $68 | $6.1B | 3.1x | 11.5x |
| XPLR Infr | United States of America | Utilities, Wind, Solar | $9 | $6.0B | 4.5x | 3.1x |
| Chesapeake Utilities | United States of America | Utilities, Energy Services | $131 | $4.7B | 5.3x | 14.8x |
| Northwest Natural Holdings | United States of America | Energy Services, Utilities | $48 | $4.5B | 3.4x | 10.3x |
| Hawaiian Electric Industries | United States of America | Utilities | $11 | $4.4B | 1.2x | -3.0x |
| Otter Tail | United States of America | Utilities, Energy Exploration & Generation | $83 | $4.1B | 3.2x | 8.4x |
| California Water Service | United States of America | Utilities, Water | $45 | $4.1B | 4.0x | 11.8x |
| MGE Energy | United States of America | Utilities, Energy Exploration & Generation | $80 | $3.8B | 5.3x | 13.9x |
| American States Water | United States of America | Utilities, Water | $73 | $3.7B | 5.9x | 16.3x |
| H2O America | United States of America | Utilities | $48 | $3.6B | 4.5x | 11.5x |
| Centuri Holdings | United States of America | Energy Services, Utilities | $25 | $3.5B | 1.2x | 14.3x |
| Kenon Holdings | United States of America | Utilities | $63 | $3.4B | N/A | N/A |
| Suburban Propane | United States of America | Utilities, Energy Services | $19 | $2.6B | 1.8x | 9.3x |
| Light | United States of America | Utilities | $1 | $1.9B | N/A | N/A |
| Unitil | United States of America | Utilities | $50 | $1.7B | 3.2x | N/A |
| Middlesex Water | United States of America | Utilities, Water | $51 | $1.4B | 6.9x | N/A |
| York Water | United States of America | Utilities, Water | $32 | $696M | 8.9x | N/A |
| Cadiz | United States of America | Utilities | $6 | $557M | 38.3x | -36.0x |
| Artesian Resources | United States of America | Utilities, Water | $31 | $500M | 4.4x | N/A |
| Stem | United States of America | Energy & Utilities Software, Energy Storage | $17 | $423M | 2.8x | -535.7x |
| Consolidated Water Co | United States of America | Utilities | $34 | $421M | 3.1x | 15.7x |
| OPAL Fuels | United States of America | Energy Exploration & Generation, Energy Services, Utilities | $2 | $393M | 1.2x | 4.8x |
| RGC Resources | United States of America | Energy Services, Utilities | $23 | $373M | 3.8x | N/A |
| Global Water Resources | United States of America | Utilities | $9 | $368M | 6.6x | 14.0x |
| Montauk Renewables | United States of America | Energy Exploration & Generation, Biomass, Utilities | $2 | $312M | 1.8x | 8.4x |
| Genie Energy | United States of America | Utilities, Energy Exploration & Generation | $14 | $281M | 0.6x | 8.9x |
| Pure Cycle | United States of America | Utilities, Water | $12 | $267M | N/A | N/A |
| NextNRG | United States of America | Energy Services, Energy & Utilities Software | $1 | $194M | 2.5x | N/A |
| Etrion | United States of America | Utilities | $0 | -$1.5M | N/A | N/A |
Valuation multiples as of last 12 months (LTM). Stock prices as of December 5, 2025. Financial data powered by Morningstar and FactSet.
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