Sector Alpha Week of 2026-08-04
20-quarter listed-company comparison

Utilities - Regulated Gas Stocks

Utilities - Regulated Gas: UGI Corporation owns the largest revenue base; Centuri Holdings, Inc. has the fastest current growth.

01 · the industry itself · before any single company

How has Utilities - Regulated Gas moved against S&P 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this industry is 17% behind S&P 500. Earnings across its companies grew 11% on average over the last four reported quarters.

BASING · 1y −8.4%✓Fundamentals up, price down1 of 16 companies ahead of S&P 500 by 5% or more over three months

RS — · 4/16 >200d (−4) · 1/16 lead (+1) · EPS 11/16↑

20030020262025202420232022 231348 TRAILING 12-MONTH EPS · 100 AT THE START0100121Mar 22Sep 22Mar 23Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Mar 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 13 reportingJun 2022 · trailing 12-month earnings per share at 101, against 100 at the start · no comparable year yet · 13 reportingSep 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 13 reportingDec 2022 · trailing 12-month earnings per share at 105, against 100 at the start · no comparable year yet · 13 reportingMar 2023 · trailing 12-month earnings per share at 103, against 100 at the start · up 3.1% on a year ago · 13 reportingJun 2023 · trailing 12-month earnings per share at 102, against 100 at the start · up 1.3% on a year ago · 13 reportingSep 2023 · trailing 12-month earnings per share at 97, against 100 at the start · down 3.3% on a year ago · 13 reportingDec 2023 · trailing 12-month earnings per share at 97, against 100 at the start · down 6.3% on a year ago · 13 reportingMar 2024 · trailing 12-month earnings per share at 98, against 100 at the start · up 1.4% on a year ago · 13 reportingJun 2024 · trailing 12-month earnings per share at 102, against 100 at the start · down 3.5% on a year ago · 13 reportingSep 2024 · trailing 12-month earnings per share at 99, against 100 at the start · down 0.2% on a year ago · 13 reportingDec 2024 · trailing 12-month earnings per share at 101, against 100 at the start · up 4.8% on a year ago · 13 reportingMar 2025 · trailing 12-month earnings per share at 104, against 100 at the start · up 2.4% on a year ago · 13 reportingJun 2025 · trailing 12-month earnings per share at 105, against 100 at the start · up 5.7% on a year ago · 13 reportingSep 2025 · trailing 12-month earnings per share at 109, against 100 at the start · up 12.7% on a year ago · 13 reportingDec 2025 · trailing 12-month earnings per share at 114, against 100 at the start · up 11.6% on a year ago · 13 reportingMar 2026 · trailing 12-month earnings per share at 121, against 100 at the start · up 13.4% on a year ago · 13 reportingNot reported yet — earnings trail price by a quarter or two121 · Mar 26No earnings on file this far back — the price series reaches further than the filings do
20030020262025202420232022 231348 TRAILING 12-MONTH EPS · 100 AT THE START0100121Mar 22Mar 23Mar 24Mar 25Mar 26Mar 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 13 reportingJun 2022 · trailing 12-month earnings per share at 101, against 100 at the start · no comparable year yet · 13 reportingSep 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 13 reportingDec 2022 · trailing 12-month earnings per share at 105, against 100 at the start · no comparable year yet · 13 reportingMar 2023 · trailing 12-month earnings per share at 103, against 100 at the start · up 3.1% on a year ago · 13 reportingJun 2023 · trailing 12-month earnings per share at 102, against 100 at the start · up 1.3% on a year ago · 13 reportingSep 2023 · trailing 12-month earnings per share at 97, against 100 at the start · down 3.3% on a year ago · 13 reportingDec 2023 · trailing 12-month earnings per share at 97, against 100 at the start · down 6.3% on a year ago · 13 reportingMar 2024 · trailing 12-month earnings per share at 98, against 100 at the start · up 1.4% on a year ago · 13 reportingJun 2024 · trailing 12-month earnings per share at 102, against 100 at the start · down 3.5% on a year ago · 13 reportingSep 2024 · trailing 12-month earnings per share at 99, against 100 at the start · down 0.2% on a year ago · 13 reportingDec 2024 · trailing 12-month earnings per share at 101, against 100 at the start · up 4.8% on a year ago · 13 reportingMar 2025 · trailing 12-month earnings per share at 104, against 100 at the start · up 2.4% on a year ago · 13 reportingJun 2025 · trailing 12-month earnings per share at 105, against 100 at the start · up 5.7% on a year ago · 13 reportingSep 2025 · trailing 12-month earnings per share at 109, against 100 at the start · up 12.7% on a year ago · 13 reportingDec 2025 · trailing 12-month earnings per share at 114, against 100 at the start · up 11.6% on a year ago · 13 reportingMar 2026 · trailing 12-month earnings per share at 121, against 100 at the start · up 13.4% on a year ago · 13 reportingNot reported yet — earnings trail price by a quarter or two121No earnings on file this far back — the price series reaches further than the filings do
Utilities - Regulated Gas, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 16 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

02 · sector relative strength, before individual stocks

Is Utilities - Regulated Gas outperforming S&P 500?

Utilities - Regulated Gas has underperformed S&P 500 by 6.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 7.9%. 1 of 16 covered companies currently beats the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. New Jersey Resources Corporation is the strongest against the sector itself at +10.5%.

-7.9%Sector vs S&P 500 · 13 weeks
-6.9%Sector vs S&P 500 · 52 weeks
1/16Stocks leading S&P 500
6/16Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Utilities - Regulated Gas has underperformed S&P 500 by 6.9% over 52 weeks and 7.9% over 13 weeks. 1 of 16 covered companies beat the S&P 500 on Mansfield relative strength, while 6 of 16 beat the sector itself. UGI Corporation leads with revenue of $7,359 million, based on 15 of 16 comparable companies through Mar 2026.

Companies
16
complete canonical membership
Combined market value
$103.7B
Atmos Energy Corporation
Revenue growing
11/15
positive TTM year-on-year growth
Beating S&P 500
1/16
positive Mansfield relative strength
Comparing 5 of 16
03 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
UGI Corporation has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 85.3% evidence confidence.
Suburban Propane Partners, L.P. looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
New Jersey Resources Corporation has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1UGI CorporationUGI 60.8/100Mixed-positive evidence85% evidence TURNING 20.2/35 Revenue 0.6% · PAT 20.3% · OPM change 2 pp 95% evidence 12.7/25 ROCE 5.2% · OPM 26.8% 76% evidence 14.9/20 P/E 12.6× · PEG 0.75 65% evidence 13.0/20 RS sector -0.1% · RS bench -9.6% · 1Y 3.2%1 of 12 weeks ahead 100% evidence
Exact sum: 20.2 + 12.7 + 14.9 + 13 = 60.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Southwest Gas Holdings, Inc.SWX 59.4/100Mixed-positive evidence85% evidence BASING 22.6/35 Revenue -11.9% · PAT 100% · OPM change 8.9 pp 95% evidence 10.3/25 ROCE 2.2% · OPM 37.5% 76% evidence 11.1/20 P/E 12.6× · PEG 1.47 65% evidence 15.4/20 RS sector 4.2% · RS bench -5.7% · 1Y 13.5%0 of 12 weeks ahead 100% evidence
Exact sum: 22.6 + 10.3 + 11.1 + 15.4 = 59.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Chesapeake Utilities CorporationCPK 58.7/100Mixed-positive evidence85% evidence TURNING 20.6/35 Revenue 17.3% · PAT 19.4% · OPM change -0.9 pp 95% evidence 13.2/25 ROCE 2.9% · OPM 28.2% 76% evidence 10.3/20 P/E 20.3× · PEG 1.32 65% evidence 14.6/20 RS sector 2.1% · RS bench -7.5% · 1Y 7.8%0 of 12 weeks ahead 100% evidence
Exact sum: 20.6 + 13.2 + 10.3 + 14.6 = 58.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4New Jersey Resources CorporationNJR 57.0/100Mixed-positive evidence85% evidence ASLEEP 11.7/35 Revenue 5.1% · PAT -17.6% · OPM change 1.3 pp 95% evidence 14.3/25 ROCE 4.4% · OPM 32% 76% evidence 12.8/20 P/E 16.3× · PEG 1.06 65% evidence 18.2/20 RS sector 10.5% · RS bench 0.1% · 1Y 22.2%0 of 12 weeks ahead 100% evidence
Exact sum: 11.7 + 14.3 + 12.8 + 18.2 = 57 · Decision use: Price leads the evidence: RS versus the benchmark is 0.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
5Atmos Energy CorporationATO 53.1/100Mixed-positive evidence85% evidence BASING 24.1/35 Revenue 8.8% · PAT 18.3% · OPM change 6.8 pp 95% evidence 13.7/25 ROCE 2.8% · OPM 39% 76% evidence 8.1/20 P/E 22.7× · PEG 1.7 65% evidence 7.2/20 RS sector -2.1% · RS bench -11.4% · 1Y 5.1%0 of 12 weeks ahead 100% evidence
Exact sum: 24.1 + 13.7 + 8.1 + 7.2 = 53.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Northwest Natural Holding CompanyNWN 50.2/100Mixed-positive evidence85% evidence ASLEEP 16.1/35 Revenue 5.8% · PAT 18.4% · OPM change 2 pp 95% evidence 12.2/25 ROCE 3% · OPM 33.2% 76% evidence 11.8/20 P/E 18.2× · PEG 1.12 65% evidence 10.1/20 RS sector 0.1% · RS bench -9.5% · 1Y 21.9%0 of 12 weeks ahead 100% evidence
Exact sum: 16.1 + 12.2 + 11.8 + 10.1 = 50.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Suburban Propane Partners, L.P.SPH 48.9/100Mixed-negative evidence79% evidence BASING 14.7/35 Revenue -2.3% · PAT 42.5% · OPM change 1.6 pp 95% evidence 12.8/25 ROCE 7.3% · OPM 28.6% 76% evidence 16.0/20 P/E 10.2× · PEG 0.27 65% evidence 5.4/20 RS sector -5% · RS bench -14% · 1Y 2.1%0 of 12 weeks ahead 70% evidence
Exact sum: 14.7 + 12.8 + 16 + 5.4 = 48.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
8Black Hills CorporationBKH 48.6/100Mixed-negative evidence72% evidence ASLEEP 14.4/35 Revenue — · PAT 3.1% · OPM change 0.4 pp 57% evidence 10.3/25 ROCE 2.2% · OPM 25.9% 76% evidence 12.8/20 P/E 18.2× · PEG 0.96 65% evidence 11.1/20 RS sector 2.6% · RS bench -7.1% · 1Y 18.7%0 of 12 weeks ahead 100% evidence
Exact sum: 14.4 + 10.3 + 12.8 + 11.1 = 48.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Spire Inc.SR 47.7/100Mixed-negative evidence85% evidence BASING 18.6/35 Revenue 7.9% · PAT 27.3% · OPM change 1.3 pp 95% evidence 11.0/25 ROCE 2.9% · OPM 29.8% 76% evidence 15.0/20 P/E 15.9× · PEG 0.4 65% evidence 3.1/20 RS sector -6.6% · RS bench -15.6% · 1Y 4.6%0 of 12 weeks ahead 100% evidence
Exact sum: 18.6 + 11 + 15 + 3.1 = 47.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Brookfield Infrastructure CorporationBIPC 45.8/100Thin evidence · provisional56% evidence BASING 14.4/35 Revenue -1.9% · PAT — · OPM change — 52% evidence 13.9/25 ROCE 13.5% · OPM — 61% evidence 11.5/20 P/E -31.4× · PEG — 15% evidence 6.0/20 RS sector -7% · RS bench -15.9% · 1Y 1.6%1 of 12 weeks ahead 100% evidence
Exact sum: 14.4 + 13.9 + 11.5 + 6 = 45.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11RGC Resources, Inc.RGCO 45.0/100Mixed-negative evidence79% evidence ASLEEP 18.4/35 Revenue 17.8% · PAT 15.4% · OPM change -3.7 pp 95% evidence 12.2/25 ROCE 3.9% · OPM 24.8% 76% evidence 5.6/20 P/E 16.5× · PEG 2.87 65% evidence 8.8/20 RS sector -0.9% · RS bench -10.1% · 1Y 4.7%0 of 12 weeks ahead 70% evidence
Exact sum: 18.4 + 12.2 + 5.6 + 8.8 = 45 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12MDU Resources Group, Inc.MDU 43.8/100Mixed-negative evidence85% evidence ASLEEP 14.2/35 Revenue -2.1% · PAT 0.5% · OPM change 2.4 pp 95% evidence 9.0/25 ROCE 1.7% · OPM 19.1% 76% evidence 14.3/20 P/E 22.5× · PEG 0.23 65% evidence 6.3/20 RS sector -0.8% · RS bench -10.2% · 1Y 21.6%0 of 12 weeks ahead 100% evidence
Exact sum: 14.2 + 9 + 14.3 + 6.3 = 43.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
13NiSource Inc.NI 41.1/100Mixed-negative evidence85% evidence BASING 15.5/35 Revenue 15% · PAT 7.3% · OPM change -0.1 pp 95% evidence 12.8/25 ROCE 2.7% · OPM 34.7% 76% evidence 5.2/20 P/E 23.2× · PEG 2.68 65% evidence 7.6/20 RS sector -1.2% · RS bench -10.5% · 1Y 5.3%0 of 12 weeks ahead 100% evidence
Exact sum: 15.5 + 12.8 + 5.2 + 7.6 = 41.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14OPAL Fuels Inc.OPAL 40.0/100Mixed-negative evidence69% evidence TURNING 13.7/35 Revenue 5% · PAT 93.3% · OPM change -4.3 pp 95% evidence 4.4/25 ROCE -0.6% · OPM -6.6% 76% evidence 8.5/20 P/E 252× · PEG — 15% evidence 13.4/20 RS sector 3% · RS bench -6.6% · 1Y 8.6%0 of 12 weeks ahead 70% evidence
Exact sum: 13.7 + 4.4 + 8.5 + 13.4 = 40 · Decision use: Price leads the evidence: RS versus the benchmark is -6.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
15ONE Gas, Inc.OGS 36.3/100Mixed-negative evidence85% evidence BASING 17.4/35 Revenue 2.8% · PAT 12.8% · OPM change 3.5 pp 95% evidence 10.7/25 ROCE 2.6% · OPM 22.8% 76% evidence 5.5/20 P/E 19.4× · PEG 2.78 65% evidence 2.7/20 RS sector -5.4% · RS bench -14.5% · 1Y 2.8%0 of 12 weeks ahead 100% evidence
Exact sum: 17.4 + 10.7 + 5.5 + 2.7 = 36.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Centuri Holdings, Inc.CTRI 36.0/100Mixed-negative evidence67% evidence ASLEEP 23.1/35 Revenue 18.7% · PAT — · OPM change 1.6 pp 71% evidence 4.2/25 ROCE -0.3% · OPM -0.7% 76% evidence 8.7/20 P/E 86.4× · PEG — 15% evidence 0.0/20 RS sector -18.5% · RS bench -26.4% · 1Y 9.5%0 of 12 weeks ahead 100% evidence
Exact sum: 23.1 + 4.2 + 8.7 + 0 = 36 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -18.5% and the one-year return is 9.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
Showing 10 of 16 companies
04 · what price has already done

Market action

New Jersey Resources Corporation has the strongest one-year price move in Utilities - Regulated Gas at +22.2%. It also leads on Mansfield relative strength against the S&P 500 at +0.1%. 1 of 16 covered companies is above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

Price and relative strength

Every company, the sector's own index and S&P 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · compare level, then change

Revenue Scale & Growth Durability

UGI Corporation has the highest Revenue among the 16 Utilities - Regulated Gas companies compared here, at $7,359 million. NiSource Inc. is next at $6,822 million. Centuri Holdings, Inc. has the highest Revenue growth at 18.7%, so level and change sit with different companies. 15 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: UGI Corporation is the scale leader at $7,359 million, 7.9% ahead of NiSource Inc.. Centuri Holdings, Inc.'s growth is 18.7% from a $3,156 million base, with 12 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderUGI Corporation · $7,359 million
Gap7.9% versus #2 · NiSource Inc.
Persistence4/8 recent comparable periods
Coverage15/16 companies · 308 observations

Investor read: UGI Corporation is the scale benchmark; Centuri Holdings, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: UGI Corporation's growth falls below Centuri Holdings, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1UGI Corporation UGI$7.4B
2NiSource Inc. NI$6.8B
3Atmos Energy Corporation ATO$4.9B
4Brookfield Infrastructure Corporation BIPC$3.6B
5Centuri Holdings, Inc. CTRI$3.2B
Revenue growthfastest growers
1Centuri Holdings, Inc. CTRI19%
2RGC Resources, Inc. RGCO18%
3Chesapeake Utilities Corporation CPK17%
4NiSource Inc. NI15%
5Atmos Energy Corporation ATO8.8%
Revenue · company comparison
15/16 level · 15/16 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
UGI Corporation UGI$2.7B0.7%Mar 2026
NiSource Inc. NI$2.4B8.3%Mar 2026
Atmos Energy Corporation ATO$2.0B0.6%Mar 2026
Spire Inc. SR$1.0B4.5%Mar 2026
New Jersey Resources Corporation NJR$939M2.9%Mar 2026
Brookfield Infrastructure Corporation BIPC$884M-4.8%Mar 2026
ONE Gas, Inc. OGS$832M-11%Mar 2026
Black Hills Corporation BKH$781M-3.0%Mar 2026
Centuri Holdings, Inc. CTRI$723M31%Mar 2026
MDU Resources Group, Inc. MDU$606M-10%Mar 2026
Southwest Gas Holdings, Inc. SWX$585M-22%Mar 2026
Suburban Propane Partners, L.P. SPH$551M-6.3%Mar 2026
Northwest Natural Holding Company NWN$490M-0.8%Mar 2026
Chesapeake Utilities Corporation CPK$353M18%Mar 2026
OPAL Fuels Inc. OPAL$73M-14%Mar 2026
RGC Resources, Inc. RGCO$45M25%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

$606M
$568M
$1.0B
$1.7B
$816M
$723M
$1.5B
$1.5B
$663M
$588M
$1.2B
$1.6B
$702M
$658M
$1.2B
$2.0B
$839M
$737M
$1.3B
$2.0B

Black Hills Corporation · BKH

$373M
$381M
$563M
$824M
$474M
$463M
$791M
$921M
$411M
$407M
—
$726M
$403M
$402M
—
$805M
$439M
$430M
—
$781M

Brookfield Infrastructure Corporation · BIPC

$416M
$414M
$414M
$461M
$479M
$454M
$492M
$497M
$538M
$551M
$917M
$902M
$908M
$912M
$944M
$929M
$866M
$917M
$956M
$884M

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
—
—
$1.3B
$806M
$775M
$528M
$672M
$720M
$717M
$550M
$724M
$850M
$859M
$723M

Chesapeake Utilities Corporation · CPK

$111M
$107M
$160M
$223M
$139M
$131M
$187M
$218M
$136M
$132M
$185M
$246M
$166M
$160M
$215M
$299M
$193M
$180M
$259M
$353M

MDU Resources Group, Inc. · MDU

$1.4B
$1.6B
$1.4B
$1.4B
$1.0B
$1.0B
$1.3B
$1.4B
$1.1B
$1.0B
$1.1B
$588M
$344M
$290M
$536M
$675M
$351M
$315M
$534M
$606M

New Jersey Resources Corporation · NJR

$368M
$533M
$676M
$912M
$552M
$765M
$724M
$644M
$264M
$331M
$467M
$658M
$276M
$396M
$488M
$913M
$299M
$336M
$605M
$939M

NiSource Inc. · NI

$986M
$959M
$1.4B
$1.9B
$1.2B
$1.1B
$1.7B
$2.0B
$1.1B
$1.0B
$1.4B
$1.7B
$1.1B
$1.1B
$1.6B
$2.2B
$1.3B
$1.3B
$1.9B
$2.4B

ONE Gas, Inc. · OGS

$316M
$274M
$594M
$971M
$429M
$359M
$818M
$1.0B
$398M
$336M
$606M
$758M
$354M
$340M
$631M
$935M
$424M
$379M
$689M
$832M

Southwest Gas Holdings, Inc. · SWX

$821M
$889M
$1.1B
$1.3B
$1.1B
$1.1B
$1.4B
$1.6B
$1.3B
$1.2B
$702M
$1.6B
$1.2B
$359M
$553M
$746M
$1.1B
$317M
$481M
$585M

Spire Inc. · SR

$328M
$290M
$555M
$881M
$448M
$314M
$814M
$1.1B
$419M
$310M
$757M
$1.1B
$414M
$294M
$669M
$976M
$422M
$334M
$762M
$1.0B

UGI Corporation · UGI

$1.5B
$1.4B
$2.7B
$3.5B
$2.0B
$1.9B
$2.8B
$3.1B
$1.7B
$1.4B
$2.1B
$2.5B
$1.4B
$1.2B
$2.0B
$2.7B
$1.4B
$1.2B
$2.1B
$2.7B

Revenue growth · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

—
—
—
—
35%
27%
47%
-6.6%
-19%
-19%
-22%
6.9%
5.9%
12%
1.6%
18%
20%
12%
14%
0.6%

Black Hills Corporation · BKH

—
—
—
—
27%
22%
41%
12%
-13%
-12%
—
-21%
-2.0%
-1.2%
—
11%
8.9%
7.0%
—
-3.0%

Brookfield Infrastructure Corporation · BIPC

—
—
—
—
15%
9.7%
19%
7.8%
12%
21%
86%
81%
69%
66%
2.9%
3.0%
-4.6%
0.6%
1.3%
-4.8%

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
—
—
—
—
—
—
-47%
-11%
-7.5%
4.2%
7.7%
18%
20%
31%

Chesapeake Utilities Corporation · CPK

—
—
—
—
25%
22%
17%
-2.2%
-2.2%
0.8%
-1.1%
13%
22%
21%
16%
22%
16%
13%
20%
18%

MDU Resources Group, Inc. · MDU

—
—
—
—
-29%
-37%
-8.3%
0.9%
8.0%
-0.1%
-14%
-59%
-68%
-71%
-53%
15%
2.0%
8.6%
-0.4%
-10%

New Jersey Resources Corporation · NJR

—
—
—
—
50%
44%
7.1%
-29%
-52%
-57%
-36%
2.2%
4.6%
20%
4.5%
39%
8.3%
-15%
24%
2.9%

NiSource Inc. · NI

—
—
—
—
20%
14%
21%
5.0%
-7.9%
-5.8%
-17%
-13%
-0.5%
4.8%
12%
28%
18%
18%
20%
8.3%

ONE Gas, Inc. · OGS

—
—
—
—
36%
31%
38%
6.3%
-7.2%
-6.4%
-26%
-27%
-11%
1.2%
4.1%
23%
20%
11%
9.2%
-11%

Southwest Gas Holdings, Inc. · SWX

—
—
—
—
40%
27%
31%
27%
13%
3.8%
-51%
-1.4%
-8.7%
-69%
-21%
-53%
-5.3%
-12%
-13%
-22%

Spire Inc. · SR

—
—
—
—
37%
8.3%
47%
27%
-6.5%
-1.3%
-7.0%
0.5%
-1.2%
-5.2%
-12%
-14%
1.9%
14%
14%
4.5%

UGI Corporation · UGI

—
—
—
—
36%
34%
3.2%
-10%
-18%
-27%
-23%
-21%
-17%
-12%
-4.3%
8.1%
1.0%
-3.6%
2.6%
0.7%
06 · compare level, then change

Operating Economics & Margin Trend

Atmos Energy Corporation has the highest OPM among the 16 Utilities - Regulated Gas companies compared here, at 39%. Southwest Gas Holdings, Inc. is next at 37.5%. Southwest Gas Holdings, Inc. has the highest Margin change at +8.9 percentage points, so level and change sit with different companies. Its OPM series carries 20 reported observations across the 20-quarter window.

What the numbers say: Atmos Energy Corporation leads opm at 39%; Southwest Gas Holdings, Inc. leads margin change at +8.9 percentage points.

LeaderAtmos Energy Corporation · 39%
Gap4% versus #2 · Southwest Gas Holdings, Inc.
Persistence5/8 recent comparable periods
Coverage15/16 companies · 288 observations

Investor read: Atmos Energy Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Atmos Energy Corporation ATO39%
2Southwest Gas Holdings, Inc. SWX38%
3NiSource Inc. NI35%
4Northwest Natural Holding Company NWN33%
5New Jersey Resources Corporation NJR32%
Margin changefastest expanders
1Southwest Gas Holdings, Inc. SWX+8.9 pp
2Atmos Energy Corporation ATO+6.8 pp
3ONE Gas, Inc. OGS+3.5 pp
4MDU Resources Group, Inc. MDU+2.4 pp
5Northwest Natural Holding Company NWN+2.0 pp
Operating margin · company comparison
15/16 level · 15/16 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Atmos Energy Corporation ATO39%+6.8 ppMar 2026
Southwest Gas Holdings, Inc. SWX38%+8.9 ppMar 2026
NiSource Inc. NI35%−0.1 ppMar 2026
Northwest Natural Holding Company NWN33%+2.0 ppMar 2026
New Jersey Resources Corporation NJR32%+1.3 ppMar 2026
Spire Inc. SR30%+1.3 ppMar 2026
Suburban Propane Partners, L.P. SPH29%+1.6 ppMar 2026
Chesapeake Utilities Corporation CPK28%−0.9 ppMar 2026
UGI Corporation UGI27%+2.0 ppMar 2026
Black Hills Corporation BKH26%+0.4 ppMar 2026
RGC Resources, Inc. RGCO25%−3.7 ppMar 2026
ONE Gas, Inc. OGS23%+3.5 ppMar 2026
MDU Resources Group, Inc. MDU19%+2.4 ppMar 2026
Centuri Holdings, Inc. CTRI-0.7%+1.6 ppMar 2026
OPAL Fuels Inc. OPAL-6.6%−4.3 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 15 companies with a series here. The remaining 3 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

22%
16%
27%
23%
19%
15%
22%
27%
26%
26%
35%
33%
31%
28%
39%
32%
30%
30%
38%
39%

Black Hills Corporation · BKH

18%
24%
20%
21%
15%
17%
16%
19%
15%
24%
—
27%
18%
19%
—
26%
19%
18%
—
26%

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
—
—
0.9%
6.6%
6.8%
-4.2%
4.9%
5.8%
4.7%
-2.3%
4.4%
4.3%
4.3%
-0.7%

Chesapeake Utilities Corporation · CPK

20%
19%
23%
25%
19%
14%
23%
25%
21%
15%
26%
32%
25%
26%
31%
29%
26%
25%
29%
28%

MDU Resources Group, Inc. · MDU

9.7%
12%
8.5%
4.8%
6.2%
6.1%
11%
8.3%
7.5%
8.5%
12%
16%
12%
12%
18%
17%
8.6%
13%
20%
19%

New Jersey Resources Corporation · NJR

-7.5%
0.6%
23%
15%
5.4%
11%
24%
26%
1.8%
19%
29%
26%
2.2%
37%
39%
31%
-0.4%
12%
30%
32%

NiSource Inc. · NI

14%
15%
20%
32%
12%
14%
21%
27%
16%
23%
26%
34%
22%
20%
26%
35%
21%
23%
27%
35%

Northwest Natural Holding Company · NWN

8.5%
-14%
24%
25%
6.9%
-13%
22%
25%
5.8%
-12%
21%
25%
7.4%
-14%
23%
31%
12%
-7.5%
28%
33%

ONE Gas, Inc. · OGS

16%
15%
15%
15%
14%
13%
13%
15%
16%
17%
18%
19%
20%
18%
20%
19%
17%
17%
20%
23%

Southwest Gas Holdings, Inc. · SWX

7.2%
2.6%
11%
13%
4.0%
4.4%
-20%
8.4%
6.6%
5.2%
20%
10%
7.0%
5.6%
27%
29%
8.5%
12%
33%
38%

Spire Inc. · SR

10%
9.2%
17%
28%
8.5%
9.5%
19%
23%
2.9%
-1.3%
18%
27%
7.4%
6.7%
22%
29%
16%
-0.1%
23%
30%

UGI Corporation · UGI

26%
54%
-4.2%
37%
2.7%
14%
-45%
7.2%
-47%
44%
10%
28%
0.7%
34%
23%
25%
-10%
38%
20%
27%

Margin change · reported quarter history

Showing the 12 largest of 15 companies with a series here. The remaining 3 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

—
—
—
—
−3.1 pp
−1.4 pp
−5.6 pp
+4.1 pp
+6.6 pp
+11.6 pp
+12.9 pp
+6.0 pp
+5.9 pp
+1.9 pp
+4.6 pp
−1.2 pp
−1.3 pp
+1.7 pp
−0.8 pp
+6.8 pp

Black Hills Corporation · BKH

—
—
—
—
−2.8 pp
−6.4 pp
−3.9 pp
−2.0 pp
+0.1 pp
+6.8 pp
—
+7.6 pp
+2.1 pp
−5.1 pp
—
−1.1 pp
+1.3 pp
−0.6 pp
—
+0.4 pp

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
—
—
—
—
—
—
+4.0 pp
−0.8 pp
−2.1 pp
+1.9 pp
−0.5 pp
−1.5 pp
−0.4 pp
+1.6 pp

Chesapeake Utilities Corporation · CPK

—
—
—
—
−1.3 pp
−4.5 pp
−0.1 pp
+0.6 pp
+1.9 pp
+1.2 pp
+2.6 pp
+7.2 pp
+3.6 pp
+10.1 pp
+5.6 pp
−3.3 pp
+1.6 pp
−0.4 pp
−2.6 pp
−0.9 pp

MDU Resources Group, Inc. · MDU

—
—
—
—
−3.5 pp
−5.8 pp
+2.0 pp
+3.5 pp
+1.3 pp
+2.4 pp
+1.9 pp
+8.1 pp
+4.0 pp
+3.5 pp
+5.3 pp
+0.3 pp
−2.9 pp
+0.6 pp
+2.4 pp
+2.4 pp

New Jersey Resources Corporation · NJR

—
—
—
—
+12.9 pp
+10.0 pp
+0.7 pp
+10.4 pp
−3.6 pp
+8.8 pp
+5.2 pp
+0.3 pp
+0.4 pp
+17.5 pp
+9.7 pp
+4.8 pp
−2.6 pp
−24.9 pp
−9.2 pp
+1.3 pp

NiSource Inc. · NI

—
—
—
—
−2.3 pp
−0.9 pp
+1.2 pp
−5.0 pp
+3.4 pp
+8.3 pp
+4.1 pp
+7.2 pp
+6.3 pp
−2.4 pp
+0.8 pp
+0.6 pp
−1.3 pp
+3.1 pp
+0.8 pp
−0.1 pp

Northwest Natural Holding Company · NWN

—
—
—
—
−1.6 pp
+1.4 pp
−2.3 pp
−0.5 pp
−1.1 pp
+0.4 pp
−0.5 pp
+0.8 pp
+1.6 pp
−1.7 pp
+1.8 pp
+5.9 pp
+4.1 pp
+6.6 pp
+5.5 pp
+2.0 pp

ONE Gas, Inc. · OGS

—
—
—
—
−2.5 pp
−2.2 pp
−2.0 pp
0.0 pp
+2.4 pp
+3.9 pp
+5.0 pp
+4.7 pp
+3.5 pp
+0.5 pp
+2.0 pp
+0.1 pp
−2.6 pp
−0.3 pp
+0.6 pp
+3.5 pp

Southwest Gas Holdings, Inc. · SWX

—
—
—
—
−3.2 pp
+1.8 pp
−30.8 pp
−4.9 pp
+2.6 pp
+0.8 pp
+40.0 pp
+1.6 pp
+0.4 pp
+0.4 pp
+7.5 pp
+18.6 pp
+1.5 pp
+6.1 pp
+5.8 pp
+8.9 pp

Spire Inc. · SR

—
—
—
—
−1.6 pp
+0.3 pp
+1.3 pp
−4.6 pp
−5.6 pp
−10.8 pp
−0.1 pp
+3.3 pp
+4.5 pp
+8.0 pp
+3.8 pp
+2.0 pp
+9.0 pp
−6.8 pp
+0.6 pp
+1.3 pp

UGI Corporation · UGI

—
—
—
—
−22.8 pp
−39.9 pp
−40.7 pp
−30.2 pp
−50.0 pp
+29.8 pp
+55.1 pp
+21.1 pp
+48.0 pp
−9.2 pp
+12.3 pp
−3.5 pp
−11.0 pp
+3.5 pp
−2.2 pp
+2.0 pp
07 · compare level, then change

Profit Scale & Acceleration

Atmos Energy Corporation has the highest Net profit among the 16 Utilities - Regulated Gas companies compared here, at $1,346 million. NiSource Inc. is next at $1,042 million. Southwest Gas Holdings, Inc. has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Atmos Energy Corporation leads with $1,346 million of TTM profit, 29.2% above NiSource Inc.. Southwest Gas Holdings, Inc. shows ≥100% on the scoring scale (105.3% uncapped) growth from a $464 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderAtmos Energy Corporation · $1,346 million
Gap29.2% versus #2 · NiSource Inc.
Persistence8/8 recent comparable periods
Coverage16/16 companies · 312 observations

Investor read: Atmos Energy Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Atmos Energy Corporation ATO$1.3B
2NiSource Inc. NI$1.0B
3UGI Corporation UGI$641M
4Southwest Gas Holdings, Inc. SWX$464M
5New Jersey Resources Corporation NJR$341M
Profit growthfastest growers
1Southwest Gas Holdings, Inc. SWX100%
2OPAL Fuels Inc. OPAL93%
3Suburban Propane Partners, L.P. SPH43%
4Spire Inc. SR27%
5UGI Corporation UGI20%
Net profit · company comparison
16/16 level · 14/16 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Atmos Energy Corporation ATO$582M20%Mar 2026
NiSource Inc. NI$556M5.5%Mar 2026
UGI Corporation UGI$520M8.6%Mar 2026
New Jersey Resources Corporation NJR$219M7.4%Mar 2026
Spire Inc. SR$218M15%Mar 2026
Southwest Gas Holdings, Inc. SWX$138M27%Mar 2026
Suburban Propane Partners, L.P. SPH$138M0.7%Mar 2026
Black Hills Corporation BKH$133M-2.2%Mar 2026
ONE Gas, Inc. OGS$129M8.4%Mar 2026
Northwest Natural Holding Company NWN$97M10%Mar 2026
MDU Resources Group, Inc. MDU$81M-1.2%Mar 2026
Chesapeake Utilities Corporation CPK$59M16%Mar 2026
RGC Resources, Inc. RGCO$9M13%Mar 2026
OPAL Fuels Inc. OPAL$-6M-700%Mar 2026
Centuri Holdings, Inc. CTRI$-9M200%Mar 2026
Brookfield Infrastructure Corporation BIPC$-112M-129%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

$102M
$49M
$249M
$325M
$129M
$72M
$272M
$358M
$138M
$119M
$311M
$432M
$166M
$134M
$352M
$486M
$186M
$175M
$403M
$582M

Black Hills Corporation · BKH

$28M
$48M
$74M
$121M
$36M
$38M
$76M
$117M
$27M
$49M
$83M
$132M
$25M
$26M
$101M
$136M
$29M
$26M
$109M
$133M

Brookfield Infrastructure Corporation · BIPC

$-43M
$122M
$-269M
$-373M
$673M
$229M
$565M
$-301M
$-274M
$913M
$-227M
$28M
$491M
$-977M
$-150M
$389M
$-477M
$82M
$-235M
$-112M

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
—
—
$-7M
$19M
$17M
$-25M
$12M
$-4M
$10M
$-18M
$8M
$2M
$30M
$-9M

Chesapeake Utilities Corporation · CPK

$14M
$12M
$23M
$37M
$17M
$10M
$26M
$36M
$16M
$9M
$25M
$46M
$18M
$18M
$37M
$51M
$24M
$19M
$46M
$59M

MDU Resources Group, Inc. · MDU

$100M
$139M
$86M
$32M
$36M
$42M
$104M
$84M
$148M
$78M
$171M
$75M
$20M
$16M
$70M
$82M
$14M
$18M
$76M
$81M

New Jersey Resources Corporation · NJR

$-112M
$-1M
$111M
$96M
$13M
$55M
$116M
$110M
$2M
$37M
$89M
$121M
$-12M
$91M
$131M
$204M
$-15M
$15M
$122M
$219M

NiSource Inc. · NI

$57M
$62M
$173M
$431M
$56M
$64M
$241M
$338M
$46M
$98M
$192M
$400M
$103M
$97M
$244M
$527M
$101M
$107M
$278M
$556M

ONE Gas, Inc. · OGS

$30M
$20M
$61M
$99M
$32M
$24M
$67M
$103M
$33M
$25M
$71M
$99M
$27M
$19M
$77M
$119M
$32M
$26M
$86M
$129M

Southwest Gas Holdings, Inc. · SWX

$26M
$-9M
$71M
$97M
$-6M
$-11M
$-278M
$48M
$30M
$4M
$74M
$88M
$20M
$3M
$94M
$109M
$-10M
$268M
$68M
$138M

Spire Inc. · SR

$5M
$-10M
$56M
$174M
$-1M
$-7M
$91M
$179M
$-22M
$-31M
$85M
$204M
$-13M
$-26M
$81M
$189M
$21M
$-40M
$95M
$218M

UGI Corporation · UGI

$150M
$525M
$-96M
$934M
$-7M
$243M
$-954M
$110M
$-789M
$131M
$94M
$496M
$-48M
$-273M
$375M
$479M
$-163M
$-13M
$297M
$520M

Profit growth · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

—
—
—
—
26%
47%
9.2%
10%
7.0%
65%
14%
21%
20%
13%
13%
13%
12%
31%
14%
20%

Black Hills Corporation · BKH

—
—
—
—
29%
-21%
2.7%
-3.3%
-25%
29%
9.2%
13%
-7.4%
-47%
22%
3.0%
16%
0.0%
7.9%
-2.2%

Brookfield Infrastructure Corporation · BIPC

—
—
—
—
—
88%
—
—
-141%
299%
-140%
—
—
-207%
—
1,289%
-197%
—
—
-129%

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
—
—
—
—
—
—
—
-121%
-41%
—
-33%
—
200%
—

Chesapeake Utilities Corporation · CPK

—
—
—
—
21%
-17%
13%
-2.7%
-5.9%
-10%
-3.9%
28%
13%
100%
48%
11%
33%
5.6%
24%
16%

MDU Resources Group, Inc. · MDU

—
—
—
—
-64%
-70%
21%
163%
311%
86%
64%
-11%
-86%
-79%
-59%
9.3%
-30%
13%
8.6%
-1.2%

New Jersey Resources Corporation · NJR

—
—
—
—
—
—
4.5%
15%
-85%
-33%
-23%
10%
-700%
146%
47%
69%
—
-84%
-6.9%
7.4%

NiSource Inc. · NI

—
—
—
—
-1.8%
3.2%
39%
-22%
-18%
53%
-20%
18%
124%
-1.0%
27%
32%
-1.9%
10%
14%
5.5%

ONE Gas, Inc. · OGS

—
—
—
—
6.7%
20%
9.8%
4.0%
3.1%
4.2%
6.0%
-3.9%
-18%
-24%
8.5%
20%
19%
37%
12%
8.4%

Southwest Gas Holdings, Inc. · SWX

—
—
—
—
-123%
—
-492%
-51%
—
—
—
83%
-33%
-25%
27%
24%
-150%
8,833%
-28%
27%

Spire Inc. · SR

—
—
—
—
-120%
—
63%
2.9%
—
—
-6.6%
14%
—
—
-4.7%
-7.4%
—
—
17%
15%

UGI Corporation · UGI

—
—
—
—
-105%
-54%
—
-88%
—
-46%
—
351%
—
-308%
299%
-3.4%
—
—
-21%
8.6%
08 · compare level, then change

Return On Capital Employed

Brookfield Infrastructure Corporation has the highest ROCE among the 16 Utilities - Regulated Gas companies compared here, at 13.5%. Suburban Propane Partners, L.P. is next at 7.3%. Centuri Holdings, Inc. has the highest ROCE change at +0.5 percentage points, so level and change sit with different companies. 16 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Brookfield Infrastructure Corporation leads ROCE at 13.5%, 6.2 percentage points above Suburban Propane Partners, L.P.. Centuri Holdings, Inc. has the strongest latest improvement at +0.5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderBrookfield Infrastructure Corporation · 13.5%
Gap84.9% versus #2 · Suburban Propane Partners, L.P.
Persistence6/8 recent comparable periods
Coverage16/16 companies · 298 observations

Investor read: Brookfield Infrastructure Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Brookfield Infrastructure Corporation BIPC14%
2Suburban Propane Partners, L.P. SPH7.3%
3UGI Corporation UGI5.2%
4New Jersey Resources Corporation NJR4.4%
5RGC Resources, Inc. RGCO3.9%
ROCE changefastest improvers
1Centuri Holdings, Inc. CTRI+0.5 pp
2UGI Corporation UGI+0.4 pp
3RGC Resources, Inc. RGCO+0.3 pp
4Atmos Energy Corporation ATO+0.2 pp
5Brookfield Infrastructure Corporation BIPC+0.1 pp
Return on capital · company comparison
16/16 level · 16/16 change
All-company data · latest reported quarter
CompanyROCEROCE changeReported
Brookfield Infrastructure Corporation BIPC14%+0.1 ppMar 2026
Suburban Propane Partners, L.P. SPH7.3%−0.2 ppMar 2026
UGI Corporation UGI5.2%+0.4 ppMar 2026
New Jersey Resources Corporation NJR4.4%−0.1 ppMar 2026
RGC Resources, Inc. RGCO3.9%+0.3 ppMar 2026
Northwest Natural Holding Company NWN3.0%−0.2 ppMar 2026
Spire Inc. SR2.9%−0.1 ppMar 2026
Chesapeake Utilities Corporation CPK2.9%+0.1 ppMar 2026
Atmos Energy Corporation ATO2.8%+0.2 ppMar 2026
NiSource Inc. NI2.7%−0.1 ppMar 2026
ONE Gas, Inc. OGS2.6%−0.1 ppMar 2026
Southwest Gas Holdings, Inc. SWX2.2%+0.1 ppMar 2026
Black Hills Corporation BKH2.2%−0.1 ppMar 2026
MDU Resources Group, Inc. MDU1.7%0.0 ppMar 2026
Centuri Holdings, Inc. CTRI-0.3%+0.5 ppMar 2026
OPAL Fuels Inc. OPAL-0.6%−0.3 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

—
0.6%
1.7%
2.1%
0.8%
0.6%
1.7%
2.2%
0.9%
0.8%
1.9%
2.6%
1.0%
0.8%
1.9%
2.6%
1.0%
0.9%
1.9%
2.8%

Black Hills Corporation · BKH

—
1.2%
1.5%
2.2%
0.9%
1.0%
1.6%
2.1%
0.8%
1.2%
1.7%
2.3%
0.8%
0.9%
1.8%
2.3%
0.9%
0.8%
1.8%
2.2%

Brookfield Infrastructure Corporation · BIPC

18%
24%
28%
24%
32%
35%
23%
24%
23%
8.3%
9.4%
11%
11%
13%
14%
13%
13%
13%
14%
14%

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
0.0%
0.0%
—
—
2.8%
-2.6%
3.5%
2.4%
1.9%
-0.8%
1.8%
2.1%
2.1%
-0.3%

Chesapeake Utilities Corporation · CPK

—
1.3%
2.2%
3.2%
1.5%
1.1%
2.4%
2.9%
1.5%
1.1%
2.0%
3.2%
1.7%
1.6%
2.2%
2.8%
1.6%
1.4%
2.2%
2.9%

MDU Resources Group, Inc. · MDU

—
2.6%
1.6%
0.9%
0.8%
0.8%
1.7%
1.5%
1.1%
1.1%
1.9%
1.3%
0.6%
0.5%
1.4%
1.7%
0.5%
0.6%
1.6%
1.7%

New Jersey Resources Corporation · NJR

—
0.1%
3.2%
2.8%
0.6%
1.6%
3.3%
3.1%
0.1%
1.2%
2.4%
3.0%
0.1%
2.5%
3.1%
4.5%
0.0%
0.6%
2.7%
4.4%

NiSource Inc. · NI

—
0.7%
1.4%
2.9%
0.7%
0.7%
1.7%
2.4%
0.7%
1.0%
1.5%
2.4%
0.9%
0.9%
1.6%
2.8%
0.9%
1.0%
1.7%
2.7%

ONE Gas, Inc. · OGS

—
0.7%
1.4%
2.0%
0.8%
0.7%
1.5%
2.5%
1.1%
0.9%
1.7%
2.4%
1.1%
1.0%
1.9%
2.7%
1.1%
1.0%
2.0%
2.6%

Southwest Gas Holdings, Inc. · SWX

—
0.3%
1.3%
1.8%
0.5%
0.5%
-3.0%
1.3%
0.8%
0.5%
1.4%
1.6%
0.8%
0.2%
1.5%
2.1%
0.9%
0.4%
1.6%
2.2%

Spire Inc. · SR

—
0.4%
1.3%
3.2%
0.5%
0.4%
1.9%
3.1%
0.1%
0.0%
1.7%
3.4%
0.4%
0.2%
1.7%
3.0%
0.8%
0.0%
1.8%
2.9%

UGI Corporation · UGI

—
5.8%
-0.8%
9.2%
0.4%
1.8%
-8.9%
1.5%
-5.6%
4.3%
1.6%
5.0%
0.1%
3.3%
3.4%
4.8%
-1.1%
3.4%
3.2%
5.2%

ROCE change · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

—
—
—
—
—
0.0 pp
0.0 pp
+0.1 pp
+0.1 pp
+0.2 pp
+0.2 pp
+0.4 pp
+0.1 pp
0.0 pp
0.0 pp
0.0 pp
0.0 pp
+0.1 pp
0.0 pp
+0.2 pp

Black Hills Corporation · BKH

—
—
—
—
—
−0.2 pp
+0.1 pp
−0.1 pp
−0.1 pp
+0.2 pp
+0.1 pp
+0.2 pp
0.0 pp
−0.3 pp
+0.1 pp
0.0 pp
+0.1 pp
−0.1 pp
0.0 pp
−0.1 pp

Brookfield Infrastructure Corporation · BIPC

—
—
—
—
+13.9 pp
+10.3 pp
−4.5 pp
−0.2 pp
−9.1 pp
−26.4 pp
−13.6 pp
−13.5 pp
−11.8 pp
+4.5 pp
+4.5 pp
+2.9 pp
+2.1 pp
+0.3 pp
−0.1 pp
+0.1 pp

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
—
—
—
—
+2.8 pp
−2.6 pp
—
—
−0.9 pp
+1.8 pp
−1.7 pp
−0.3 pp
+0.2 pp
+0.5 pp

Chesapeake Utilities Corporation · CPK

—
—
—
—
—
−0.2 pp
+0.2 pp
−0.3 pp
0.0 pp
0.0 pp
−0.4 pp
+0.3 pp
+0.2 pp
+0.5 pp
+0.2 pp
−0.4 pp
−0.1 pp
−0.2 pp
0.0 pp
+0.1 pp

MDU Resources Group, Inc. · MDU

—
—
—
—
—
−1.8 pp
+0.1 pp
+0.6 pp
+0.3 pp
+0.3 pp
+0.2 pp
−0.2 pp
−0.5 pp
−0.6 pp
−0.5 pp
+0.4 pp
−0.1 pp
+0.1 pp
+0.2 pp
0.0 pp

New Jersey Resources Corporation · NJR

—
—
—
—
—
+1.5 pp
+0.1 pp
+0.3 pp
−0.5 pp
−0.4 pp
−0.9 pp
−0.1 pp
0.0 pp
+1.3 pp
+0.7 pp
+1.5 pp
−0.1 pp
−1.9 pp
−0.4 pp
−0.1 pp

NiSource Inc. · NI

—
—
—
—
—
0.0 pp
+0.3 pp
−0.5 pp
0.0 pp
+0.3 pp
−0.2 pp
0.0 pp
+0.2 pp
−0.1 pp
+0.1 pp
+0.4 pp
0.0 pp
+0.1 pp
+0.1 pp
−0.1 pp

ONE Gas, Inc. · OGS

—
—
—
—
—
0.0 pp
+0.1 pp
+0.5 pp
+0.3 pp
+0.2 pp
+0.2 pp
−0.1 pp
0.0 pp
+0.1 pp
+0.2 pp
+0.3 pp
0.0 pp
0.0 pp
+0.1 pp
−0.1 pp

Southwest Gas Holdings, Inc. · SWX

—
—
—
—
—
+0.2 pp
−4.3 pp
−0.5 pp
+0.3 pp
0.0 pp
+4.4 pp
+0.3 pp
0.0 pp
−0.3 pp
+0.1 pp
+0.5 pp
+0.1 pp
+0.2 pp
+0.1 pp
+0.1 pp

Spire Inc. · SR

—
—
—
—
—
0.0 pp
+0.6 pp
−0.1 pp
−0.4 pp
−0.4 pp
−0.2 pp
+0.3 pp
+0.3 pp
+0.2 pp
0.0 pp
−0.4 pp
+0.4 pp
−0.2 pp
+0.1 pp
−0.1 pp

UGI Corporation · UGI

—
—
—
—
—
−4.0 pp
−8.1 pp
−7.7 pp
−6.0 pp
+2.5 pp
+10.5 pp
+3.5 pp
+5.7 pp
−1.0 pp
+1.8 pp
−0.2 pp
−1.2 pp
+0.1 pp
−0.2 pp
+0.4 pp
09 · compare level, then change

Valuation Against Growth & Quality

MDU Resources Group, Inc. has the lowest PEG among the 16 Utilities - Regulated Gas companies compared here, at 0.23×. Suburban Propane Partners, L.P. is next at 0.27×. Brookfield Infrastructure Corporation has the lowest P/E at -31.4×, so level and change sit with different companies. 13 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: MDU Resources Group, Inc. has the lowest comparable PEG at 0.23×, 14.8% below Suburban Propane Partners, L.P.. Only 13 of 16 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderMDU Resources Group, Inc. · 0.23×
Gap14.8% versus #2 · Suburban Propane Partners, L.P.
Persistence0/8 recent comparable periods
Coverage13/16 companies · 58 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
1MDU Resources Group, Inc. MDU0.2
2Suburban Propane Partners, L.P. SPH0.3
3Spire Inc. SR0.4
4UGI Corporation UGI0.8
5Black Hills Corporation BKH1.0
P/Elowest P/E
1Brookfield Infrastructure Corporation BIPC-31.4
2Suburban Propane Partners, L.P. SPH10.2
3Southwest Gas Holdings, Inc. SWX12.6
4UGI Corporation UGI12.6
5Spire Inc. SR15.9
Valuation · company comparison
13/16 level · 16/16 change
All-company data · latest reported quarter
CompanyPEGP/EReported
RGC Resources, Inc. RGCO2.916.5Mar 2026
ONE Gas, Inc. OGS2.819.4Mar 2026
NiSource Inc. NI2.723.2Mar 2026
Atmos Energy Corporation ATO1.722.7Mar 2026
Southwest Gas Holdings, Inc. SWX1.512.6Mar 2026
Chesapeake Utilities Corporation CPK1.320.3Mar 2026
Northwest Natural Holding Company NWN1.118.2Mar 2026
New Jersey Resources Corporation NJR1.116.3Mar 2026
Black Hills Corporation BKH1.018.2Mar 2026
UGI Corporation UGI0.812.6Mar 2026
Spire Inc. SR0.415.9Mar 2026
Suburban Propane Partners, L.P. SPH0.310.2Mar 2026
MDU Resources Group, Inc. MDU0.222.5Mar 2026
Brookfield Infrastructure Corporation BIPC—-31.4Mar 2026
Centuri Holdings, Inc. CTRI—86.4Mar 2026
OPAL Fuels Inc. OPAL—252.0Mar 2026
Full 20-quarter history · every available company

PEG · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

—
—
—
—
—
—
—
2.4
3.4
2.1
1.8
1.2
1.0
1.8
1.8
2.9
3.3
2.4
2.2
1.7

Black Hills Corporation · BKH

—
—
—
—
—
—
—
—
—
—
—
—
1.0
—
—
—
—
—
—
—

Chesapeake Utilities Corporation · CPK

—
—
—
—
—
—
—
—
—
—
—
—
—
—
2.0
1.7
1.1
1.6
1.6
1.3

MDU Resources Group, Inc. · MDU

—
—
—
—
—
—
—
—
0.2
0.9
0.4
0.2
—
—
—
—
—
—
—
—

New Jersey Resources Corporation · NJR

—
—
—
—
—
—
—
—
0.6
—
—
—
—
2.1
0.4
—
—
1.1
—
—

NiSource Inc. · NI

—
—
—
—
—
—
—
—
—
—
—
—
1.3
2.0
2.2
1.0
1.4
1.6
1.1
2.7

Northwest Natural Holding Company · NWN

—
—
—
—
—
—
—
0.9
1.1
—
—
—
—
—
—
1.6
—
—
0.5
1.1

ONE Gas, Inc. · OGS

—
—
—
—
—
—
—
3.6
—
—
—
—
—
—
—
—
2.8
1.6
1.5
2.8

Southwest Gas Holdings, Inc. · SWX

—
—
—
—
—
—
—
—
—
—
—
—
—
—
0.9
1.5
—
—
—
—

Spire Inc. · SR

—
—
—
—
—
—
—
1.0
—
—
—
—
—
—
1.5
—
1.4
—
1.6
0.4

Suburban Propane Partners, L.P. · SPH

—
—
—
—
—
—
—
—
—
—
—
0.7
—
—
—
—
—
—
—
0.3

UGI Corporation · UGI

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
2.2
0.8

P/E · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Atmos Energy Corporation · ATO

—
14.5
19.7
22.2
20.3
18.2
19.6
19.3
19.9
17.4
18.4
17.8
17.1
20.3
19.9
21.6
21.3
22.9
21.8
22.7

Black Hills Corporation · BKH

—
16.2
18.9
19.1
17.5
17.0
21.6
16.2
16.2
13.1
13.8
13.5
12.9
15.6
15.0
14.8
14.2
15.7
17.4
18.2

Brookfield Infrastructure Corporation · BIPC

—
-13.7
—
—
31.1
17.6
4.0
—
—
5.3
—
11.7
4.0
—
—
-17.4
—
-31.4
—
—

Centuri Holdings, Inc. · CTRI

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
828.0
—
703.3
103.8
86.4

Chesapeake Utilities Corporation · CPK

—
25.4
30.8
28.4
25.7
23.7
23.5
25.6
24.0
19.8
22.3
22.5
22.7
25.2
23.1
23.7
21.4
23.8
20.9
20.3

MDU Resources Group, Inc. · MDU

—
5.6
9.8
5.8
6.4
6.3
6.4
6.3
5.5
6.1
5.4
6.0
7.8
8.7
13.2
15.5
15.7
21.5
21.0
22.5

New Jersey Resources Corporation · NJR

—
28.5
26.7
46.3
19.5
13.6
17.2
17.6
16.3
15.0
18.3
17.0
17.9
16.2
14.0
11.9
10.9
14.5
14.3
16.3

NiSource Inc. · NI

—
21.4
21.7
20.8
19.2
16.4
16.1
19.0
19.0
16.6
17.9
18.1
17.7
21.0
22.7
21.7
21.5
22.9
21.4
23.2

ONE Gas, Inc. · OGS

—
16.6
20.2
22.7
20.7
17.7
18.6
19.3
18.8
16.7
15.4
15.9
16.2
19.4
17.7
18.3
17.2
18.9
17.7
19.4

Southwest Gas Holdings, Inc. · SWX

—
16.6
20.7
26.2
36.6
30.3
—
—
—
—
29.7
28.3
27.7
29.5
25.6
23.0
27.7
12.2
13.2
12.6

Spire Inc. · SR

—
12.3
15.1
17.7
19.0
15.8
14.9
15.0
14.7
14.7
16.2
15.5
14.6
16.1
16.4
19.3
15.8
18.7
18.0
15.9

UGI Corporation · UGI

—
6.2
9.2
5.2
6.2
6.5
42.1
—
—
—
—
—
7.3
20.0
11.1
13.4
19.0
10.8
13.8
12.6
10 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Utilities - Regulated Gas comparison names 4 specific ways its own evidence can mislead, all listed below. All 16 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
11 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 16 Utilities - Regulated Gas companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-08-04. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-08-04 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
12 · questions investors ask, short speakable answers

Utilities - Regulated Gas company comparison FAQs

These 22 answers restate the Utilities - Regulated Gas comparison above in question form. Every one is computed from the same 16 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-08-04. Nothing here is estimated, and none of it is a recommendation.

Is the Utilities - Regulated Gas sector outperforming S&P 500?

Utilities - Regulated Gas has underperformed S&P 500 by 6.9% over 52 weeks and 7.9% over 13 weeks. 1 of 16 covered companies beat the S&P 500 on Mansfield relative strength, while 6 of 16 beat the sector itself.

Which Utilities - Regulated Gas company is largest by revenue?

UGI Corporation leads with revenue of $7,359 million, based on 15 of 16 comparable companies through Mar 2026.

Which Utilities - Regulated Gas company is growing fastest?

Centuri Holdings, Inc. has the fastest current revenue growth at 18.7%, across 15 of 16 comparable companies.

Which Utilities - Regulated Gas company has the strongest 4-Factor Sector Score?

UGI Corporation ranks first at 60.8/100 with 85.3% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Utilities - Regulated Gas company has the lowest comparable PEG?

MDU Resources Group, Inc. has the lowest comparable PEG at 0.23, among 13 of 16 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Utilities - Regulated Gas comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Which Utilities - Regulated Gas company is the biggest?

UGI Corporation is the largest, with trailing-twelve-month revenue of $7,359 million, ahead of NiSource Inc. at $6,822 million. That covers 15 of 16 companies with comparable reporting through Mar 2026.

Which Utilities - Regulated Gas company has the best profit margins?

Atmos Energy Corporation has the highest operating margin at 39%, from 15 of 16 comparable companies. Southwest Gas Holdings, Inc. shows the biggest recent improvement, at +8.9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Utilities - Regulated Gas company makes the most profit?

Atmos Energy Corporation earns the most, at $1,346 million of trailing-twelve-month net profit, from 16 of 16 comparable companies. Southwest Gas Holdings, Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Utilities - Regulated Gas company earns the highest return on capital?

Brookfield Infrastructure Corporation leads on return on capital employed at 13.5%, across 16 of 16 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Utilities - Regulated Gas stock is the cheapest?

On PEG — where a LOWER number is cheaper — MDU Resources Group, Inc. screens cheapest at 0.23×. Only 13 of 16 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Utilities - Regulated Gas sector beating the market?

Utilities - Regulated Gas has underperformed S&P 500 by 6.9% over the last 52 weeks and 7.9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 16 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Utilities - Regulated Gas stock has the strongest price momentum?

New Jersey Resources Corporation has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Utilities - Regulated Gas company scores highest for research priority?

UGI Corporation scores 60.8 out of 100 with 85.3% evidence confidence, from 20.2 points on growth and earnings, 12.7 on capital efficiency, 14.9 on valuation and 13 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Utilities - Regulated Gas companies does this comparison cover, and over what period?

It compares 16 listed companies over up to 20 reported quarters of fundamentals, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Utilities - Regulated Gas sector?

The 16 Utilities - Regulated Gas companies on this page carry $103,733 million of combined market value. Atmos Energy Corporation is the largest at $28,819 million, about 28% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

What is the Utilities - Regulated Gas sector's P/E ratio?

The median price-to-earnings ratio across the 16 Utilities - Regulated Gas companies on this page is 18.2×, measured on the 15 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

How is the Utilities - Regulated Gas sector performing?

1 of the 16 covered Utilities - Regulated Gas companies are beating S&P 500 on Mansfield relative strength. The sector itself is 6.9% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

How many Utilities - Regulated Gas stocks are listed in the US?

This comparison covers 16 listed Utilities - Regulated Gas companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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