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

Utilities companies with the highest profit margin

Net margin is net income divided by revenue. Only companies with at least $1 billion in revenue are ranked here: a small company can post an extreme margin that tells you nothing. 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 1–74 of 74 · Fiscal year 2025 · Data as of September 25, 2026

Only companies with at least $1bn in revenue are ranked.

GFL Environmental (GFL) tops the list with 58.0% in net margin for fiscal 2025, ahead of DT Midstream (35.5%) and Antero Midstream (35.2%). Across the top 10, net margin ranges from 58.0% down to 24.8%. 74 companies in Utilities report net margin, 5.1% of the 1438-filer universe. The last place on the list, Consolidated Edison, comes in at 0.0%.

Net margin
#CompanyNet marginYoY15-year trend
1GFL EnvironmentalGFLUS58.0%+69.7 pp
2DT MidstreamDTMUS35.5%−1.7%
3Antero MidstreamAMUS35.2%−3.0%
4Cheniere EnergyLNGUS34.0%+18.9%
5Western Midstream PartnersWESUS30.7%−29.6%
6Kinetik HoldingsKNTKUS29.8%+81.0%
7Cheniere Energy PartnersCQPUS27.8%−3.7%
8NextEra EnergyNEEUS26.5%−10.4%
9Atmos EnergyATOUS25.5%+1.8%
10New Jersey ResourcesNJRUS24.8%+5.4%
11TC EnergyTRPCA23.1%−32.3%
12Edison InternationalEIXUS23.1%+216.4%
13National Fuel GasNFGUS22.8%+471.2%
14Essential UtilitiesWTRGUS21.7%−4.0%
15American Water WorksAWKUS21.7%−4.0%
16ArchrockAROCUS21.6%+45.4%
17Otter TailOTTRUS21.2%−6.7%
18Venture GlobalVGUS19.8%−43.5%
19Alliant EnergyLNTUS18.6%+7.1%
20IdacorpIDAUS18.5%+13.3%
21Dominion EnergyDUS18.1%+29.0%
22Kinder MorganKMIUS18.0%+4.3%
23Williams CompaniesWMBUS17.6%−0.2%
24Public Service EnterprisePEGUS17.3%+0.7%
25American Electric PowerAEPUS16.9%+13.4%
26AmerenAEEUS16.6%+6.6%
27FortisFTSCA16.1%+1.4%
28Wec EnergyWECUS15.9%−10.5%
29Duke EnergyDUKUS15.7%+4.0%
30Hydro OneHRNNFCA14.9%+8.7%
31SouthernSOUS14.7%−10.8%
32Oge EnergyOGEUS14.4%−2.4%
33EvergyEVRGUS14.4%−3.9%
34NiSourceNIUS14.3%−1.0%
35Wisconsin Electric PowerWELPPUS13.9%+8.2%
36EntergyETRUS13.7%+53.3%
37Excelerate EnergyEEUS13.6%−24.3%
38SempraSREUS13.4%−38.2%
39PPLPPLUS12.9%+22.7%
40Black HillsBKHUS12.6%−1.7%
41Eversource EnergyESUS12.5%+82.3%
42CMS EnergyCMSUS12.5%−6.0%
43EmeraEMACA12.4%+57.4%
44Pinnacle West CapitalPNWUS11.8%−3.2%
45Clearway EnergyCWENUS11.8%+84.3%
46ExelonEXCUS11.4%+6.8%
47Waste ConnectionsWCNCA11.4%+64.2%
48Targa ResourcesTRGPUS11.3%+41.0%
49Northwestern EnergyNWEUS11.2%−24.0%
50Republic ServicesRSGUS11.2%+1.4%
51CenterPoint EnergyCNPUS11.2%−4.6%
52Enterprise Products PartnersEPDUS11.0%+5.3%
53SpireSRUS11.0%+13.4%
54Waste ManagementWMUS10.7%−13.7%
55Pg&EPCGUS10.4%+2.6%
56OneokOKEUS10.1%−27.9%
57AvistaAVAUS9.8%+5.8%
58UgiUGIUS9.3%+149.4%
59Constellation EnergyCEGUS9.1%−42.9%
60Northwest NaturalNWNUS8.8%+28.5%
61Portland General ElectricPORUS8.6%−6.0%
62TXNM EnergyTXNMUS7.8%−40.3%
63AesAESUS7.4%−45.6%
64Algonquin Power & UtilitiesAQNCA7.4%+66.9 pp
65FirstenergyFEUS6.8%−6.9%
66Clean HarborsCLHUS6.5%−5.1%
67Kodiak Gas ServicesKGSUS6.2%+43.0%
68VistraVSTUS5.3%−65.5%
69Energy TransferETUS5.2%−11.0%
70Hawaiian Electric IndustriesHEUS4.0%+48.3 pp
71NRG EnergyNRGUS2.8%−29.7%
72Centuri HoldingsCTRIUS0.8%+1.0 pp
73Casella Waste SystemsCWSTUS0.4%−50.7%
74Consolidated EdisonEDUS0.0%+0.9%

All figures from SEC filings · FY2025 · 74

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{{cite web |title=Utilities companies with the highest profit margin |url=https://companiesranked.com/en/utilities-companies-with-the-highest-profit-margin |website=CompaniesRanked |date=2026-09-25 |language=en}}

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

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