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. 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

AWR American States Water … Utility 74 Profit Growth Debt Cash Flow Return 6/9 Grey 2

PCYO Pure Cycle Corporation Utility 71 Profit Growth Debt Cash Flow Return 5/9 Safe 3

VIASP Via Renewables, Inc. Utility One-time Loss 67 Profit Growth Debt Cash Flow Return 4/9 - 4

OGE OGE Energy Corp. Utility 67 Profit Growth Debt Cash Flow Return 6/9 Distress 5

WTRG Essential Utilities, I… Utility Check Earnings 66 Profit Growth Debt Cash Flow Return 6/9 Distress 6

CWCO Consolidated Water Co.… Utility 65 Profit Growth Debt Cash Flow Return 5/9 Safe 7

VST Vistra Corp. Utility One-time Loss 63 Profit Growth Debt Cash Flow Return 5/9 Distress 8

PEG Public Service Enterpr… Utility 63 Profit Growth Debt Cash Flow Return 7/9 Distress 9

EIX Edison International Utility 63 Profit Growth Debt Cash Flow Return 5/9 Distress 10

POR Portland General Elect… Utility 62 Profit Growth Debt Cash Flow Return 4/9 Distress 11

NRG NRG Energy, Inc. Utility One-time Loss 60 Profit Growth Debt Cash Flow Return 4/9 Grey 12

GNE GENIE ENERGY LTD Utility 60 Profit Growth Debt Cash Flow Return 5/9 Safe 13

RGCO RGC Resources, Inc. Utility 59 Profit Growth Debt Cash Flow Return 6/9 Distress 14

STEM Stem, Inc. Emerging Check Earnings Data Issue 58 Cash Dil R&D RevPS Burn BalSh 5/9 Distress 15

NJR New Jersey Resources C… Utility 58 Profit Growth Debt Cash Flow Return 6/9 Distress 16

NI NiSource Inc. Utility 57 Profit Growth Debt Cash Flow Return 6/9 Distress 17

CPK Chesapeake Utilities C… Utility 57 Profit Growth Debt Cash Flow Return 6/9 Distress 18

BKH Black Hills Corporatio… Utility 57 Profit Growth Debt Cash Flow Return 5/9 Distress 19

AVA Avista Corporation Utility 57 Profit Growth Debt Cash Flow Return 4/9 Distress 20

ATO Atmos Energy Corporati… Utility 56 Profit Growth Debt Cash Flow Return 5/9 Distress 21

SO The Southern Company Utility 55 Profit Growth Debt Cash Flow Return 4/9 Distress 22

CEG Constellation Energy C… Utility 55 Profit Growth Debt Cash Flow Return 5/9 Grey 23

AEP American Electric Powe… Utility 55 Profit Growth Debt Cash Flow Return 5/9 Distress 24

AWK American Water Works C… Utility 53 Profit Growth Debt Cash Flow Return 6/9 Distress 25

BIP Brookfield Infrastruct… Utility Partial Data 52 Profit Growth Debt Cash Flow Return 5/9 - 26

PPL PPL Corporation Utility 51 Profit Growth Debt Cash Flow Return 5/9 Distress 27

ES Eversource Energy Utility 51 Profit Growth Debt Cash Flow Return 6/9 Distress 28

DUK Duke Energy Corporatio… Utility 51 Profit Growth Debt Cash Flow Return 6/9 Distress 29

ALE ALLETE, Inc. Utility 51 Profit Growth Debt Cash Flow Return 4/9 Distress 30

UTL Unitil Corporation Utility One-time Loss 50 Profit Growth Debt Cash Flow Return 4/9 Distress 31

SPH Suburban Propane Partn… Utility 50 Profit Growth Debt Cash Flow Return 7/9 - 32

NWE NorthWestern Energy Gr… Utility 50 Profit Growth Debt Cash Flow Return 5/9 Distress 33

EXC Exelon Corporation Utility 50 Profit Growth Debt Cash Flow Return 5/9 Distress 34

EVRG Evergy, Inc. Utility 50 Profit Growth Debt Cash Flow Return 3/9 Distress 35

CTRI Centuri Holdings, Inc. Utility One-time Loss 49 Profit Growth Debt Cash Flow Return 6/9 Grey 36

MSEX Middlesex Water Compan… Utility One-time Loss 48 Profit Growth Debt Cash Flow Return 4/9 Distress 37

ED Consolidated Edison, I… Utility One-time Loss 48 Profit Growth Debt Cash Flow Return 6/9 Distress 38

ARTNA Artesian Resources Cor… Utility 48 Profit Growth Debt Cash Flow Return 5/9 Distress 39

AEE Ameren Corporation Utility 48 Profit Growth Debt Cash Flow Return 6/9 Distress 40

ETR Entergy Corporation Utility 47 Profit Growth Debt Cash Flow Return 6/9 Distress 41

PCG PG&E Corporation Utility One-time Loss 45 Profit Growth Debt Cash Flow Return 3/9 Distress 42

DGXX Digi Power X Inc. Emerging Check Earnings 45 Cash Dil R&D RevPS Burn BalSh 4/9 - 43

CWEN Clearway Energy, Inc. Utility 45 Profit Growth Debt Cash Flow Return 4/9 Distress 44

HE Hawaiian Electric Indu… Utility 44 Profit Growth Debt Cash Flow Return 5/9 Distress 45

CWT California Water Servi… Utility 44 Profit Growth Debt Cash Flow Return 4/9 Distress 46

CNP CenterPoint Energy, In… Utility One-time Loss 44 Profit Growth Debt Cash Flow Return 5/9 Distress 47

WEC WEC Energy Group, Inc. Utility 43 Profit Growth Debt Cash Flow Return 5/9 Distress 48

UGI UGI Corporation Utility 43 Profit Growth Debt Cash Flow Return 6/9 Distress 49

SR Spire Inc. Utility 43 Profit Growth Debt Cash Flow Return 6/9 Distress 50

PNW Pinnacle West Capital … Utility 43 Profit Growth Debt Cash Flow Return 4/9 Distress 51

IDA IDACORP, Inc. Utility 43 Profit Growth Debt Cash Flow Return 4/9 Distress 52

CMS CMS Energy Corporation Utility 43 Profit Growth Debt Cash Flow Return 5/9 Distress 53

YORW The York Water Company Utility 42 Profit Growth Debt Cash Flow Return 3/9 Distress 54

ORA Ormat Technologies, In… Utility 42 Profit Growth Debt Cash Flow Return 4/9 Distress 55

LNT Alliant Energy Corpora… Utility 42 Profit Growth Debt Cash Flow Return 6/9 Distress 56

FE FirstEnergy Corp. Utility One-time Loss 42 Profit Growth Debt Cash Flow Return 5/9 Distress 57

HTO H2O America Utility 41 Profit Growth Debt Cash Flow Return 4/9 Distress 58

NWN Northwest Natural Hold… Utility Check Earnings One-time Loss 40 Profit Growth Debt Cash Flow Return 4/9 Distress 59

HNRG Hallador Energy Compan… Utility 40 Profit Growth Debt Cash Flow Return 7/9 Safe 60

MDU MDU Resources Group, I… Utility 39 Profit Growth Debt Cash Flow Return 3/9 Distress 61

FLNC Fluence Energy, Inc. Utility Check Earnings Data Issue 39 Profit Growth Debt Cash Flow Return 2/9 - 62

CDZI Cadiz Inc. Emerging 39 Cash Dil R&D RevPS Burn BalSh 3/9 Distress 63

OPAL OPAL Fuels Inc. Utility Check Earnings Data Issue 38 Profit Growth Debt Cash Flow Return 6/9 Distress 64

ENLT Enlight Renewable Ener… Utility Partial Data 38 Profit Growth Debt Cash Flow Return 5/9 - 65

ELLO Ellomay Capital Ltd. Emerging Check Earnings Partial Data 36 Cash Dil R&D RevPS Burn BalSh 4/9 - 66

D Dominion Energy, Inc. Utility 36 Profit Growth Debt Cash Flow Return 6/9 Distress 67

AQN Algonquin Power & Util… Utility One-time Loss Unit Sold 36 Profit Growth Debt Cash Flow Return 6/9 Distress 68

XIFR XPLR Infrastructure, L… Utility Unit Sold 33 Profit Growth Debt Cash Flow Return 4/9 - 69

TLN Talen Energy Corporati… Utility Check Earnings 33 Profit Growth Debt Cash Flow Return 3/9 Distress 70

BEP Brookfield Renewable P… Utility Partial Data 33 Profit Growth Debt Cash Flow Return 5/9 - 71

SRE Sempra Utility Partial Data 32 Profit Growth Debt Cash Flow Return 5/9 - 72

NEE NextEra Energy, Inc. Utility 32 Profit Growth Debt Cash Flow Return 4/9 Distress 73

BIPC Brookfield Infrastruct… Utility Data Issue Partial Data 32 Profit Growth Debt Cash Flow Return 4/9 - 74

TXNM TXNM Energy, Inc. Utility One-time Loss 31 Profit Growth Debt Cash Flow Return 5/9 Distress 75

GWRS Global Water Resources… Utility One-time Loss 27 Profit Growth Debt Cash Flow Return 4/9 Distress 76

NRGV Energy Vault Holdings,… Utility Check Earnings 25 Profit Growth Debt Cash Flow Return 4/9 Distress 77

BEPC Brookfield Renewable C… Utility Partial Data 21 Profit Growth Debt Cash Flow Return 2/9 - 78

NXXT NextNRG, Inc. Emerging Data Issue 19 Cash Dil R&D RevPS Burn BalSh 4/9 Distress 79

SAFX XCF Global, Inc. Utility New Filer Partial Data 13 Profit Growth Debt Cash Flow Return - Distress 80

AES The AES Corporation Utility Partial Data 13 Profit Growth Debt Cash Flow Return 3/9 -

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 six, with any dimension we can't compute counted as zero out of a fixed denominator of six, so incomplete data can't inflate a ranking.

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 and duplicate listings that share a parent company's financials are automatically filtered from the ranking.

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.