Regulated Water was Essential Utilities’s largest segment in fiscal 2025, bringing in $2.65B of $4.94B (54%).
| Statement, Business Segments | FY 2009 | FY 2012 | FY 2013 | FY 2014 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Regulated Water | $2.17B | $2.31B | $2.44B | $2.65B | |||||||
| Water | — | — | — | — | |||||||
| Regulated Natural Gas | $2.29B | $1.72B | $1.69B | $2.23B | |||||||
| Natural Gas | — | — | — | — | |||||||
| Regulated | — | — | — | — | |||||||
| Other & Eliminations | $130.98M | $79.72M | $47.56M | $66.91M | |||||||
| Non-Regulated Businesses | — | — | — | — | |||||||
| Other | — | — | — | — | |||||||
| Total Reportable Segments | -$7.58M | -$6.35M | -$5.08M | -$6.69M | |||||||
| Total | $4.58B | $4.10B | $4.17B | $4.94B |
Essential Utilities brought in $4.94B from its four segments in fiscal 2025, the year ended December 31, 2025. That was up 18.5% from $4.17B in fiscal 2024. Regulated Water was the largest at $2.65B (53.7%), ahead of Regulated Natural Gas at $2.23B (45.1%) and Other & Eliminations at $66.91M (1.4%).
Compared with fiscal 2024, Regulated Natural Gas grew 32.2% to $2.23B and Regulated Water grew 8.6% to $2.65B. From fiscal 2022 to 2025, combined revenue from these segments grew from $4.58B to $4.94B, a compound annual growth rate of 2.6%. Regulated Water's share of the total rose from 47.3% to 53.7%.
The total is net of Total Reportable Segments, which took $6.69M off revenue in fiscal 2025.
Regulated Natural Gas was Essential Utilities’s largest product and service line in fiscal 2025, bringing in $2.24B of $4.95B (45%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Regulated Natural Gas | $2.29B | $1.73B | $1.69B | $2.24B | ||||
| Natural Gas | — | — | — | — | ||||
| Regulated Water | $1.81B | $1.90B | $2.02B | $2.19B | ||||
| Water | — | — | — | — | ||||
| Wastewater | $330.62M | $374.92M | $398.31M | $446.21M | ||||
| Other | $146.35M | $103.10M | $64.94M | $82.10M | ||||
| Total | $4.58B | $4.11B | $4.17B | $4.95B |
Essential Utilities brought in $4.95B from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 18.6% from $4.17B in fiscal 2024. Regulated Natural Gas was the largest at $2.24B (45.2%), ahead of Regulated Water at $2.19B (44.2%) and Wastewater at $446.21M (9.0%). The remaining line, Other, brought in $82.10M.
Compared with fiscal 2024, Regulated Natural Gas grew fastest, up 32.6% to $2.24B. Every line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these lines grew from $4.58B to $4.95B, a compound annual growth rate of 2.6%. Regulated Natural Gas' share of the total fell from 50.0% to 45.2%.
Essential Utilities (WTRG) reports its revenue by statement, business segments and by product and service. In fiscal 2025, Regulated Water was its largest segment, bringing in $2.65B (53.7% of the total), followed by Regulated Natural Gas at $2.23B (45.1%).
Regulated Water was Essential Utilities' largest segment in fiscal 2025, bringing in $2.65B, or 53.7% of the $4.94B total across its four segments.
Regulated Natural Gas was Essential Utilities' largest product and service line in fiscal 2025, bringing in $2.24B, or 45.2% of the $4.95B total across its four product and service lines.
Regulated Natural Gas grew faster than Regulated Water in fiscal 2025, up 32.2% from $1.69B to $2.23B. Regulated Water grew 8.6% to $2.65B.
Every figure comes from Essential Utilities' annual financial filings, as reported. Each line keeps the name Essential Utilities gives it, and years follow its fiscal calendar.
Essential Utilities' revenue by statement, business segments goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.