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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Largest utilities companies by gross profit

Gross profit is revenue minus the direct cost of goods and services sold. Not every company reports it; those that do not are absent from this ranking. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–23 of 23 · Fiscal year 2025 · Data as of September 25, 2026

Energy Transfer (ET) tops the list with $7.3B in gross profit for fiscal 2025, ahead of NiSource ($5.2B) and Targa Resources ($2.6B). The top 10 together report $25.3B in gross profit; the gap between #1 and #10 is ×10.09. 23 companies in Utilities report gross profit, 1.5% of the 1524-filer universe. The last place on the list, Quest Resource, comes in at $42.5M.

Gross profit
#CompanyGross profitYoY15-year trend
1Energy TransferETUS$7.3B+26.3%
2NiSourceNIUS$5.2B+1.8%
3Targa ResourcesTRGPUS$2.6B+13.7%
4AesAESUS$2.2B−4.5%
5OneokOKEUS$2.1B+27.7%
6Oge EnergyOGEUS$1.8B+7.0%
7Atmos EnergyATOUS$1.7B+4.7%
8TransaltaTACCA$1.0B−22.4%
9Black HillsBKHUS$767M+10.0%
10ArchrockAROCUS$724M+43.0%
11TXNM EnergyTXNMUS$656M−11.4%
12Kodiak Gas ServicesKGSUS$317M+19.0%
13Ormat TechnologiesORAUS$273M+0.0%
14Algonquin Power & UtilitiesAQNCA$260M+20.0%
15Centuri HoldingsCTRIUS$247M+11.7%
16Kenon HoldingsKENSG$147M+2.1%
17Via RenewablesVIASPUS$142M−15.7%
18Enlight Renewable EnergyENLTIL$139M+25.1%
19Genie EnergyGNEUS$125M−10.0%
20NGL Energy PartnersNGLUS$93.5M—
21Consolidated WaterCWCOKY$48.4M+6.0%
22Montauk RenewablesMNTKUS$45.3M−31.1%
23Quest ResourceQRHCUS$42.5M−14.9%

All figures from SEC filings · FY2025 · 23

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{{cite web |title=Largest utilities companies by gross profit |url=https://companiesranked.com/en/largest-utilities-companies-by-gross-profit |website=CompaniesRanked |date=2026-09-25 |language=en}}

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CompaniesRanked. (September 25, 2026). Largest utilities companies by gross profit. CompaniesRanked. https://companiesranked.com/en/largest-utilities-companies-by-gross-profit

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@misc{companiesranked-en-largest-utilities-companies-by-gross-profit-2026,
  author       = {{CompaniesRanked}},
  title        = {{Largest utilities companies by gross profit}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/largest-utilities-companies-by-gross-profit}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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