At a glance
Chesapeake Utilities Corporation is worth $3.22B, about 22 times its fiscal 2025 earnings. Revenue grew 18.1% to $930.0M in fiscal 2025, with 15.1% kept as profit; over 5 years it has grown 13.8% a year. It pays a 2.14% dividend yield, raised every year for at least 5 years, and returned $201.3M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +3.7% over the past year with dividends reinvested and +2.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 26.1% in the 2020 crash (S&P 500: 33.7%) and 20.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 30 months after the lows.
Price history
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CPK +3.7% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Regulated Energy | $685.7M | 73.7% |
| Unregulated Energy | $244.3M | 26.3% |
| Other | $200K | 0% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $201.9M, up 4.7% from a year earlier, and net income was $25.4M (+6.3%).
- For fiscal 2025, revenue was $930.0M (+18.1% year over year; +13.8% a year from FY2020 to FY2025) with a 15.1% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +13.8% good |
|---|---|
| Operating margin | 27.5% good |
| Free cash flow margin | -23.1% weak |
| Return on equity (FY2025) | 8.8% watch |
| Return on assets (FY2025) | 3.5% watch |
| Net cash (cash minus debt) | $-1.74B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $488.2M | $71.5M | $-6.6M |
| FY2021 | $570.0M | $83.5M | $-36.4M |
| FY2022 | $680.7M | $89.8M | $30.6M |
| FY2023 | $670.6M | $87.2M | $14.9M |
| FY2024 | $787.2M | $118.6M | $-115.9M |
| FY2025 | $930.0M | $140.3M | $-214.9M |
Valuation snapshot
| Market value | $3.22B |
|---|---|
| P/E ratio | 22.4 |
| Dividend yield | 2.14% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CPK price data to Oct 28, 2026 | +9.0% | +3.7% | +17.4% | +2.5% | +9.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +9.0% |
| 2025 | +5.1% |
| 2024 | +17.4% |
| 2023 | -8.8% |
| 2022 | -17.6% |
| 2021 | +36.8% |
| 2020 | +15.2% |
| 2019 | +19.9% |
| 2018 | +5.3% |
| 2017 | +19.4% |
| 2016 | +20.3% |
| 2015 | +16.9% |
| 2014 | +27.1% |
| 2013 | +36.1% |
| 2012 | +8.2% |
| 2011 | +8.1% |
| 2010 | +34.7% |
| 2009 | +6.4% |
| 2008 | +3.0% |
| 2007 | +7.9% |
| 2006 | +2.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 29% over that stretch · deepest drop along the way 32.9%, back to its old high 3.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 25.8% over that stretch · deepest drop along the way 26.1%, back to its old high 7.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19% over that stretch · deepest drop along the way 20.4%, back to its old high 30.2 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (21 read): 0 open-market purchases and 14 sales ($4.8M).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 21, 2026 | Jeffry M Householder President & CEO, Director | sell | $1.1M |
| Dec 17, 2025 | Jeffry M Householder President & CEO, Director | sell | $951K |
| Dec 18, 2025 | Jeffry M Householder President & CEO, Director | sell | $934K |
| Dec 16, 2025 | Jeffry M Householder President & CEO, Director | sell | $632K |
| May 20, 2026 | Kevin J Webber Sr VP & Chief Dev Officer | sell | $255K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.7% | Mar 31, 2026 |
| T. Rowe Price Investment Management, Inc. | 10.4% | Jun 30, 2026 |
| Vanguard Capital Management | 5.21% | Mar 31, 2026 |
ETFs with the most weight in CPK
| PSCU Invesco S&P SmallCap Utilities & Communication Services ETF | 4.36% |
| JPSV JPMorgan Active Small Cap Value ETF | 1.21% |
| SMDV ProShares Russell 2000 Dividend Growers ETF | 1.12% |
| XSLV Invesco S&P SmallCap Low Volatility ETF | 1.08% |
| DGRS WisdomTree US Smallcap Quality Dividend Growth Fund | 1.01% |
| SCDS JPMorgan Fundamental Data Science Small Core ETF | 0.98% |
| OASC OneAscent Small Cap Core ETF | 0.73% |
| FYC First Trust Small Cap Growth AlphaDEX Fund | 0.52% |
What could go wrong
- Regulators decide what it can earn. Regulated Energy, 73.7% of revenue, mostly charges rates set by state commissions or federal regulators. Rate cases can fall short: in Maryland, the company sought about $6.9 million and won a $3.5 million annual increase.
- Florida hurricanes and severe weather. Florida is its largest market. A major hurricane, flood or tornado could damage pipes and power lines, cut earnings and make insurance harder to get. Climate change may make such storms more frequent.
- Growth needs a steady flow of new capital. Its plans need more cash than operations produce. Free cash flow (operating cash minus capital spending) was negative $214.9 million in fiscal 2025, so growth depends on issuing debt and shares on acceptable terms.
- Tariffs and inflation raise project costs. Tariffs and inflation could raise the price of pipes, meters and transformers. Projects that run over budget or late may hurt earnings, and future growth depends on building new facilities.
- Weather, propane prices and conservation. Mild winters mean less gas and propane burned for heat, which can swing earnings. Propane price moves can also hurt results, and energy conservation could reduce how much customers use over time.
- Higher interest rates and credit ratings. It relies on short-term debt to fund unpaid customer bills, gas in storage and projects. Higher rates or a credit downgrade would raise borrowing costs, which regulators may not let it recover fully or quickly.
Recent events
- Major agreement signed; Other company announcement
- Executive or board change
- Major agreement signed; New debt or financial obligation; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Chesapeake Utilities raised its dividend every year from fiscal 2020 to fiscal 2025, from $1.585 to $2.695 per share. That is about 11.2% growth a year. The dividend yield was 2.14% as of October 28, 2026. Dividends paid took about 43% of fiscal 2025 net income. Free cash flow (operating cash minus capital spending) was negative $214.9 million, so debt and new shares help pay for heavy investment in pipes and utility systems. Buybacks were small, about $20 million over fiscal 2021–2025. Meanwhile, the share count rose 36.9% from November 2021 to August 2026, diluting existing owners.
In the 2008 financial crisis, the shares fell about 33% and recovered by June 2009. They fell 26% in the 2020 COVID crash and recovered by October 2020. The 2022 bear market brought a 20% drop that took about 30 months to recover, until April 2025. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Chesapeake Utilities make money?
Mainly by delivering energy. Chesapeake Utilities distributes natural gas, electricity and propane, and runs natural gas pipelines in the Mid-Atlantic, the Carolinas, Florida and Ohio. Revenue was $930 million in fiscal 2025: 73.7% from Regulated Energy and 26.3% from Unregulated Energy. In the regulated businesses, state commissions or federal regulators set rates to cover prudent costs plus a reasonable return. Fuel costs pass through to customers, so distribution profit comes from delivery rather than from gas or power prices.
Does Chesapeake Utilities raise its dividend every year?
Yes, in each fiscal year from 2021 through 2025. Dividends per share rose from $1.585 in fiscal 2020 to $2.695 in fiscal 2025, about 11.2% a year on average. The fiscal 2025 payout used 43.3% of earnings. One caution: free cash flow was negative $214.9 million in fiscal 2025. So the company depends on outside money, such as debt and new shares, to pay for both investment and dividends. The dividend yield was 2.14% as of October 28, 2026.
Is Chesapeake Utilities growing?
Yes, though growth per share has been slower. In fiscal 2025, revenue rose 18.1% to $930 million and net income rose 18.3% to $140.3 million. Revenue grew about 13.8% a year over the five years from fiscal 2020, a period that includes the $922.8 million FCG acquisition. Diluted earnings per share rose more modestly as the share count grew, from $4.26 in fiscal 2020 to $5.97 in fiscal 2025. In the quarter ended June 30, 2026, revenue rose 4.7% from a year earlier.
How has CPK stock performed over the long run?
Based on share price, CPK returned 9.9% a year over the 10 years to October 28, 2026, or 156% in total. The five-year figure was much lower at 2.5% a year, after declines of 17.58% in 2022 and 8.83% in 2023. In the 2022 bear market, the stock fell 20.4%. It took about 30.2 months to regain its peak, which it did on April 14, 2025. Over the year to October 28, 2026, the price rose 3.7%.
What did Chesapeake Utilities acquire from Florida Power & Light?
FCG, a Florida natural gas distributor. Chesapeake Utilities completed the deal on November 30, 2023, paying $922.8 million in cash. FCG serves about 125,000 residential and commercial customers in eight Florida counties, including Miami-Dade, Broward and Palm Beach. Its earnings were modest in fiscal 2025. FCG earned $5.2 million of net income, compared with $33.2 million for the company's FPU gas business in Florida. In February 2026, FCG told Florida regulators it intended to file for a general rate increase.