Financial Health Scores: Utilities

Top Utilities companies by financial health score. Each score is a 0-100 composite of six dimensions ranked as percentiles within the company's peer group (banks against banks, REITs against REITs), so it measures standing among peers rather than absolute cross-industry strength.

Rates the quality of the business, not whether the stock is cheap. A 0–100 composite of profitability, growth, leverage, liquidity, cash flow, and returns.

A high score means strong fundamentals, but not a guaranteed good trade. A great business can still be a bad buy at the wrong price.

Banks, REITs, insurers, and early-stage companies are scored on sector-tailored metrics. The list covers companies worth at least $500 million that are still trading. Full methodology →

Research tool, not financial advice. Use alongside valuation analysis and your own view of the business.

Data as of FY 2025 80 companies Rhea AI

# Company Dimensions

SBS Companhia de Saneament… Utility 81 Profit Growth Debt Cash Flow Return 7/9 - 2

AWR American States Water … Utility 74 Profit Growth Debt Cash Flow Return 6/9 Grey 3

BIP Brookfield Infrastruct… UtilityOne-time Loss 73 Profit Growth Debt Cash Flow Return 5/7 Partial Distress 4

CIG Companhia Energética d… Utility 72 Profit Growth Debt Cash Flow Return 3/8 Partial - 5

BIPC Brookfield Infrastruct… UtilityOne-time Loss 72 Profit Growth Debt Cash Flow Return 5 of 6 4/7 Partial - 6

OGE OGE Energy Corp. Utility 66 Profit Growth Debt Cash Flow Return 6/9 Distress 7

WTRG Essential Utilities, I… UtilityCheck Earnings 65 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 8

KEN Kenon Holdings Ltd. Utility 65 Profit Growth Debt Cash Flow Return 4/9 Distress 9

MGEE MGE Energy, Inc. Utility 65 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 10

PEG Public Service Enterpr… Utility 63 Profit Growth Debt Cash Flow Return 6/9 Distress 11

EIX Edison International Utility 62 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 12

ENIC Enel Chile S.A. Utility 62 Profit Growth Debt Cash Flow Return 6/7 Partial - 13

VST Vistra Corp. UtilityOne-time Loss 61 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 14

NRG NRG Energy, Inc. UtilityOne-time Loss 61 Profit Growth Debt Cash Flow Return 4/9 Grey 15

POR Portland General Elect… Utility 61 Profit Growth Debt Cash Flow Return 4/8 Partial Distress 16

ED Consolidated Edison, I… Utility 59 Profit Growth Debt Cash Flow Return 5 of 6 6/8 Partial Distress 17

BKH Black Hills Corporatio… Utility 59 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 18

NI NiSource Inc. Utility 58 Profit Growth Debt Cash Flow Return 6/9 Distress 19

AVA Avista Corporation Utility 58 Profit Growth Debt Cash Flow Return 4/7 Partial Distress 20

CEG Constellation Energy C… Utility 57 Profit Growth Debt Cash Flow Return 5/8 Partial Grey 21

ATO Atmos Energy Corporati… Utility 57 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 22

CPK Chesapeake Utilities C… Utility 57 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 23

AEP American Electric Powe… Utility 56 Profit Growth Debt Cash Flow Return 5/9 Distress 24

SRE Sempra Utility 56 Profit Growth Debt Cash Flow Return 5/8 Partial - 25

SO The Southern Company Utility 55 Profit Growth Debt Cash Flow Return 4/8 Partial Distress 26

CMS CMS Energy Corporation Utility 55 Profit Growth Debt Cash Flow Return 5 of 6 5/8 Partial Distress 27

NJR New Jersey Resources C… Utility 55 Profit Growth Debt Cash Flow Return 5 of 6 6/8 Partial Distress 28

CWT California Water Servi… Utility 54 Profit Growth Debt Cash Flow Return 5 of 6 4/8 Partial Distress 29

NGG National Grid plc UtilityCheck Earnings 53 Profit Growth Debt Cash Flow Return 5 of 6 4/6 Partial Distress 30

AWK American Water Works C… Utility 53 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 31

DTE DTE Energy Company Utility 53 Profit Growth Debt Cash Flow Return 5 of 6 5/8 Partial Distress 32

ELPC Companhia Paranaense d… UtilityCheck Earnings 53 Profit Growth Debt Cash Flow Return 7/9 - 33

DUK Duke Energy Corporatio… Utility 52 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 34

PPL PPL Corporation Utility 52 Profit Growth Debt Cash Flow Return 5/8 Partial - 35

ES Eversource Energy Utility 52 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 36

LNT Alliant Energy Corpora… Utility 52 Profit Growth Debt Cash Flow Return 5 of 6 6/9 Distress 37

ENLT Enlight Renewable Ener… UtilityData IssueOne-time Loss 52 Profit Growth Debt Cash Flow Return 4/8 Partial Distress 38

SPH Suburban Propane Partn… Utility 52 Profit Growth Debt Cash Flow Return 7/9 - 39

YORW The York Water Company Utility 52 Profit Growth Debt Cash Flow Return 5 of 6 3/8 Partial Distress 40

WEC WEC Energy Group, Inc. Utility 51 Profit Growth Debt Cash Flow Return 5 of 6 5/9 - 41

NWE NorthWestern Energy Gr… Utility 51 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 42

CTRI Centuri Holdings, Inc. UtilityOne-time Loss 51 Profit Growth Debt Cash Flow Return 6/9 Grey 43

UTL Unitil Corporation UtilityOne-time Loss 51 Profit Growth Debt Cash Flow Return 4/8 Partial Distress 44

EXC Exelon Corporation Utility 50 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 45

EVRG Evergy, Inc. Utility 50 Profit Growth Debt Cash Flow Return 3/8 Partial Distress 46

HTO H2O America Utility 50 Profit Growth Debt Cash Flow Return 5 of 6 4/8 Partial Distress 47

ETR Entergy Corporation Utility 49 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 48

AEE Ameren Corporation Utility 49 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 49

SWX Southwest Gas Holdings… UtilityUnit Sold 49 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 50

FLNC Fluence Energy, Inc. UtilityCheck Earnings 49 Profit Growth Debt Cash Flow Return 2/7 Partial - 51

PCG PG&E Corporation Utility 48 Profit Growth Debt Cash Flow Return 3/8 Partial Distress 52

CWEN Clearway Energy, Inc. Utility 48 Profit Growth Debt Cash Flow Return 4/9 Distress 53

MSEX Middlesex Water Compan… Utility 48 Profit Growth Debt Cash Flow Return 4/8 Partial Distress 54

CNP CenterPoint Energy, In… UtilityOne-time Loss 47 Profit Growth Debt Cash Flow Return 5/9 Distress 55

TAC TransAlta Corporation UtilityOne-time Loss 47 Profit Growth Debt Cash Flow Return 4/9 Distress 56

D Dominion Energy, Inc. Utility 45 Profit Growth Debt Cash Flow Return 5 of 6 6/8 Partial Distress 57

FTS Fortis Inc. Utility 45 Profit Growth Debt Cash Flow Return 7/9 Distress 58

PNW Pinnacle West Capital … Utility 45 Profit Growth Debt Cash Flow Return 4/9 Distress 59

ORA Ormat Technologies, In… Utility 45 Profit Growth Debt Cash Flow Return 4/9 Distress 60

HE Hawaiian Electric Indu… Utility 44 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 61

FE FirstEnergy Corp. UtilityOne-time Loss 43 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 62

SR Spire Inc. Utility 43 Profit Growth Debt Cash Flow Return 6/9 Distress 63

NWN Northwest Natural Hold… UtilityCheck EarningsOne-time Loss 43 Profit Growth Debt Cash Flow Return 4/8 Partial Distress 64

UGI UGI Corporation Utility 42 Profit Growth Debt Cash Flow Return 7/9 Distress 65

MDU MDU Resources Group, I… Utility 42 Profit Growth Debt Cash Flow Return 3/8 Partial Distress 66

BEP Brookfield Renewable P… Utility 41 Profit Growth Debt Cash Flow Return 4/7 Partial - 67

IDA IDACORP, Inc. Utility 41 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 68

HNRG Hallador Energy Compan… Utility 41 Profit Growth Debt Cash Flow Return 7/8 Partial Grey 69

EMA Emera Incorporated Utility 40 Profit Growth Debt Cash Flow Return 6/7 Partial Distress 70

AQN Algonquin Power & Util… UtilityOne-time LossUnit Sold 40 Profit Growth Debt Cash Flow Return 6/8 Partial Distress 71

NEE NextEra Energy, Inc. Utility 37 Profit Growth Debt Cash Flow Return 5 of 6 4/8 Partial Distress 72

TLN Talen Energy Corporati… UtilityCheck Earnings 35 Profit Growth Debt Cash Flow Return 3/8 Partial Distress 73

XEL Xcel Energy Inc. Utility 34 Profit Growth Debt Cash Flow Return 4/8 Partial Distress 74

TXNM TXNM Energy, Inc. UtilityOne-time Loss 34 Profit Growth Debt Cash Flow Return 5/8 Partial Distress 75

XIFR XPLR Infrastructure, L… UtilityUnit Sold 34 Profit Growth Debt Cash Flow Return 4/8 Partial - 76

KEP Korea Electric Power C… UtilityOne-time Loss 33 Profit Growth Debt Cash Flow Return 8/9 Distress 77

AES The AES Corporation Utility 32 Profit Growth Debt Cash Flow Return 3/8 Partial - 78

RNW ReNew Energy Global Pl… UtilityOne-time Loss 27 Profit Growth Debt Cash Flow Return 5 of 6 6/7 Partial - 79

NRGV Energy Vault Holdings,… UtilityCheck EarningsData Issue 26 Profit Growth Debt Cash Flow Return 4/9 Distress 80

BEPC Brookfield Renewable C… Utility 15 Profit Growth Debt Cash Flow Return 2/6 Partial -

How the Financial Health Score is calculated

Each company receives a composite score from 0 to 100 built from six dimensions derived from SEC filings. The dimensions are family-specific: a company is scored on the metrics that matter for its business type, then ranked against direct peers rather than across every industry. A score is a company's standing within its peer group, not an absolute cross-industry rating; a 70 for a bank and a 70 for a software company both mean "top of its family," not "equally strong businesses."

Each of the six dimensions is scored as a percentile within the family (how the company ranks against its peers on that dimension). The overall score is the rounded average of the dimensions we can compute from the company’s filings, so when one of them cannot be measured the score averages the other five, and the table marks it 5 of 6. We rank a company only when at least five of its six dimensions can be computed.

Operating companies, energy and utilities are scored on Profitability, Growth, Leverage, Liquidity, Cash Flow, and Returns.
Banks are scored on Earnings, Growth, Capital, Efficiency, Credit Quality, and Stability.
Insurers are scored on Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, and Stability.
REITs are scored on FFO Margin, FFO Growth, Leverage, Interest Coverage, AFFO Margin, and Dividend Coverage.
Emerging (pre-profit) companies are scored on Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, and Balance Sheet.
Warrants, preferred shares, notes and duplicate listings that share a parent company's financials are automatically filtered from the ranking.
Only companies with a market value of at least $500 million that are still trading are ranked.

The Piotroski F-Score (0 to 9) measures fundamental strength using nine binary accounting tests; the Altman Z-Score estimates bankruptcy risk, classifying companies into Safe, Grey, or Distress zones. These two signals are shown alongside the composite score for additional perspective. When the filings cannot support all nine tests, the F-Score is shown out of the tests that could be run and marked Partial.