Industry Framework

Regulated Utilities

Read regulated utilities through rate-base growth, FFO quality, and balance-sheet resilience instead of generic FCF screens.

Utilities are contract-like businesses shaped by rate cases, capital intensity, and regulated returns. That means headline free cash flow can look weak even when the underlying economics are stable and dividend capacity is intact. The StatsAlpha(TM) utilities framework focuses on rate-base growth proxies, FFO-style cash generation, leverage tolerance, dividend durability, and monopoly-like moat characteristics. It is intended for informational analysis, not investment advice.

Money Flow Engine: Regulated Utilities Moat Template: Regulated Utilities Fair Value Lens: Utilities Trade-Off Cluster: Regulated Utilities
Coverage
125
Companies currently mapped to this framework
Median Composite
45.5
Live Snapshot

Industry Fingerprint

A quick read on where this framework looks strongest today.

Strongest Pillar
Valuation
Median 52.3
Weakest Pillar
Health
Median 41.0
Money Flow Engine
Regulated Utilities
Moat Template
Regulated Utilities
Fair Value Lens
Utilities
Trade-Off Cluster
Regulated Utilities
Leaderboard snapshot

Who Leads This Framework

Top slices selected from the strongest data already available for this industry.

Moat rankings only appear when moat coverage is deep enough to trust.
Highest Composite Score

Top 5 companies by current framework view

5 tracked
  • GEV
    GE Vernova Inc.
    66.2
    Framework score 66/100
  • AGR
    Avangrid, Inc.
    64.9
    Framework score 65/100
  • CWEN
    Clearway Energy, Inc.
    61.1
    Framework score 61/100
  • NEE
    NextEra Energy, Inc.
    59.7
    Framework score 60/100
  • NEE-PT
    NextEra Energy, Inc. 7.234% Cor
    59.3
    Framework score 59/100
Top Growth Leaders

Top 5 companies by current framework view

5 tracked
  • AGR
    Avangrid, Inc.
    90.6
    Framework score 91/100
  • NEE-PS
    NextEra Energy, Inc. 7.299% Cor
    85.7
    Framework score 86/100
  • NEE-PT
    NextEra Energy, Inc. 7.234% Cor
    85.7
    Framework score 86/100
  • ARIS
    Aris Water Solutions, Inc.
    82.7
    Framework score 83/100
  • CEPU
    Central Puerto S.A.
    80.7
    Framework score 81/100
Top Profitability Leaders

Top 5 companies by current framework view

5 tracked
  • RNW
    ReNew Energy Global plc
    75.1
    Framework score 75/100
  • RNWWW
    ReNew Energy Global plc Warrant
    73.4
    Framework score 73/100
  • AGR
    Avangrid, Inc.
    72.8
    Framework score 73/100
  • GEV
    GE Vernova Inc.
    69.9
    Framework score 70/100
  • CWEN
    Clearway Energy, Inc.
    68.6
    Framework score 69/100
Top Valuation Leaders

Top 5 companies by current framework view

5 tracked
  • AGR
    Avangrid, Inc.
    100.0
    Framework score 100/100
  • HTOOW
    Fusion Fuel Green PLC
    100.0
    Framework score 100/100
  • CMS-PC
    CMS Energy Corporation Deposita
    86.9
    Framework score 87/100
  • SR-PA
    Spire Inc. Depositary Shares, e
    80.6
    Framework score 81/100
  • NEE-PS
    NextEra Energy, Inc. 7.299% Cor
    80.5
    Framework score 80/100
Narrative Pulse

How the framework sounds in motion

Recurring storylines, tone distribution, and representative beats pulled from active companies inside this setup.

Signal View
Live beats only
01
Top Scene
Balance Sheet
83 active beats
02
Top Scene
Engine Room
27 active beats
03
Top Scene
Risk Flags
5 active beats
ARIS Engine Room

Scaling without slippage

Positive

Revenue up 81.7% YoY while gross margin expanded +17.9pp YoY to 49.6%

NRGV Engine Room

Scaling without slippage

Positive

Revenue up 340.9% YoY while gross margin expanded +10.2pp YoY to 23.6%

TLN Engine Room

Scaling without slippage

Positive

Revenue up 26.7% YoY while gross margin expanded +6.1pp YoY to 38.1%

For informational purposes only. Not investment advice.

Driver Patterns

What wins here

Metrics that recur most often across stronger operators in this framework.

Repeated strength markers
FCF Margin
Appears 120 times in higher-scoring names
Efficiency
70
Average normalized score
120x
Operating Cash Flow Margin
Appears 120 times in higher-scoring names
Efficiency
64
Average normalized score
120x
Cash Conversion Cycle
Appears 114 times in higher-scoring names
Efficiency
39
Average normalized score
114x
Net Debt/EBITDA
Appears 108 times in higher-scoring names
Health
94
Average normalized score
108x
Revenue CAGR 3Y
Appears 104 times in higher-scoring names
Growth
57
Average normalized score
104x
P/FCF Ratio
Appears 100 times in higher-scoring names
Valuation
62
Average normalized score
100x
Trade-Off Lens

What this framework must optimize at the same time

Regulated Utilities

This framework uses all three Trade-Off Ledger axes with industry-specific weights.

How to read it

Each axis sets a minimum evidence threshold. Higher coverage means the framework needs more supporting signals before the lens is treated as dependable.

Axis Balance

Coverage thresholds and enabled metrics across the core trade-off axes.

For informational purposes only
Growth
5 enabled metrics
Active
Profitability
4 enabled metrics
Active
Safety
5 enabled metrics
Active
Framework Benchmark

Pillar Score Distribution

Median and interquartile range across 125 companies in this framework.

Read the shape Use this to see whether strength is broad-based or concentrated in one pillar.
Growth
Median score
15.5 pt spread
48.0
P25 43.4 P75 58.9
0 50 100
Profitability
Median score
17.4 pt spread
43.5
P25 32.3 P75 49.7
0 50 100
Health
Median score
14.0 pt spread
41.0
P25 35.1 P75 49.1
0 50 100
Efficiency
Median score
16.4 pt spread
48.9
P25 38.4 P75 54.8
0 50 100
Valuation
Median score
21.1 pt spread
52.3
P25 40.1 P75 61.2
0 50 100
Benchmark spread map

Interquartile ranges show where the middle half of companies cluster, with the median pin marking the center of gravity for each pillar.

Pillar
0 25 50 75 100
Growth
P25 43.4 Median 48.0 P75 58.9
Profitability
P25 32.3 Median 43.5 P75 49.7
Health
P25 35.1 Median 41.0 P75 49.1
Efficiency
P25 38.4 Median 48.9 P75 54.8
Valuation
P25 40.1 Median 52.3 P75 61.2
Coverage Universe

Explore Matched Companies

Scan the full company universe mapped into the Regulated Utilities framework using live search across company name, ticker, and industry.

Matched companies 125 Informational only. Not investment advice.
125 shown
Company Market Cap Score Price Strongest Pillar
Utilities - Renewable
227.01B
66.2 Composite
$862.25 Latest close
Valuation 72.7
Utilities - Regulated Electric
178.33B
59.7 Composite
$85.03 Latest close
Valuation 72.8
Utilities - Regulated Electric
108.84B
51.4 Composite
$94.61 Latest close
Valuation 61.4
Utilities - Regulated Electric
100.10B
46.8 Composite
$128.38 Latest close
Valuation 58.1
Utilities - Renewable
91.15B
54.4 Composite
$257.25 Latest close
Valuation 68.2
Utilities - Regulated Electric
87.78B
58.1 Composite
$84.42 Latest close
Profitability 67.6
Utilities - Regulated Electric
70.97B
46.1 Composite
$130.33 Latest close
Valuation 65.4
Utilities - Regulated Electric
61.56B
44.0 Composite
$21.80 Latest close
Valuation 59.1
Utilities - Regulated Electric
59.56B
44.2 Composite
$67.72 Latest close
Efficiency 60.8
Utilities - Diversified
56.22B
48.3 Composite
$85.97 Latest close
Valuation 69.3
Utilities - Regulated Electric
51.27B
47.1 Composite
$109.87 Latest close
Valuation 60.6
Utilities - Regulated Electric
50.92B
46.2 Composite
$79.33 Latest close
Valuation 63.9
Utilities - Regulated Electric
48.07B
42.5 Composite
$46.45 Latest close
Efficiency 63.4
Utilities - Independent Power Producers
45.18B
55.8 Composite
$134.61 Latest close
Valuation 63.0
Utilities - Regulated Electric
43.82B
50.7 Composite
$118.48 Latest close
Efficiency 81.2
Utilities - Regulated Electric
38.46B
48.0 Composite
$116.90 Latest close
Efficiency 61.0
Utilities - Regulated Electric
37.07B
42.1 Composite
$74.38 Latest close
Valuation 64.1
Utilities - Regulated Electric
30.85B
44.1 Composite
$111.42 Latest close
Valuation 60.3
Utilities - Regulated Electric
30.29B
48.2 Composite
$59.29 Latest close
Valuation 65.0
Utilities - Regulated Gas
29.51B
55.5 Composite
$174.65 Latest close
Valuation 62.7
Utilities - Regulated Water
29.35B
53.0 Composite
$147.43 Latest close
Valuation 64.9
Utilities - Regulated Electric
29.25B
39.4 Composite
$13.28 Latest close
Growth 43.8
Utilities - Regulated Electric
28.27B
47.1 Composite
$42.65 Latest close
Valuation 64.2
Utilities - Regulated Electric
28.27B
41.7 Composite
$135.85 Latest close
Valuation 55.0
Utilities - Regulated Electric
27.57B
43.2 Composite
$47.63 Latest close
Efficiency 52.6
Utilities - Regulated Electric
27.20B
43.4 Composite
$36.14 Latest close
Valuation 56.7
Utilities - Regulated Electric
26.20B
50.6 Composite
$69.55 Latest close
Efficiency 58.1
Utilities - Regulated Electric
22.98B
46.4 Composite
$59.71 Latest close
Growth 61.4
Utilities - Regulated Electric
22.19B
39.9 Composite
$70.76 Latest close
Valuation 60.2
Utilities - Regulated Gas
21.52B
41.8 Composite
$44.86 Latest close
Efficiency 50.9
Utilities - Renewable
20.52B
50.7 Composite
$30.05 Latest close
Profitability 56.3
Utilities - Regulated Electric
19.96B
45.5 Composite
$86.55 Latest close
Valuation 61.6
Utilities - Independent Power Producers
19.89B
53.6 Composite
$94.62 Latest close
Growth 69.4
Utilities - Regulated Electric
18.94B
49.6 Composite
$73.02 Latest close
Valuation 74.2
Utilities - Diversified
17.55B
46.3 Composite
$38.12 Latest close
Growth 56.4
Utilities - Independent Power Producers
15.95B
41.3 Composite
$332.99 Latest close
Valuation 55.7
Utilities - Regulated Water
15.52B
47.9 Composite
$4.52 Latest close
Growth 53.6
Utilities - Regulated Electric
13.28B
32.9 Composite
$10.57 Latest close
Growth 43.8
Utilities - Regulated Electric
12.84B
42.3 Composite
$105.95 Latest close
Valuation 55.8
Utilities - Regulated Water
12.61B
51.5 Composite
$44.44 Latest close
Efficiency 65.7
Utilities - Diversified
10.63B
44.8 Composite
$14.90 Latest close
Growth 65.4
Utilities - Renewable
10.55B
39.9 Composite
$30.54 Latest close
Efficiency 53.3
Utilities - Regulated Electric
10.38B
50.7 Composite
$50.21 Latest close
Efficiency 69.8
Utilities - Renewable
9.39B
56.6 Composite
$66.49 Latest close
Profitability 67.4
Utilities - Regulated Electric
8.66B
46.2 Composite
$147.01 Latest close
Valuation 67.5
Utilities - Renewable
8.31B
53.5 Composite
$40.43 Latest close
Efficiency 62.8
Utilities - Regulated Gas
8.31B
41.1 Composite
$38.73 Latest close
Efficiency 55.4
Utilities - Diversified
7.83B
51.1 Composite
$10.43 Latest close
Growth 66.3
Utilities - Renewable
6.96B
61.1 Composite
$33.90 Latest close
Profitability 68.6
Utilities - Regulated Gas
6.79B
47.3 Composite
$93.73 Latest close
Valuation 51.4
Utilities - Regulated Electric
6.65B
34.9 Composite
$74.00 Latest close
Efficiency 45.5
Utilities - Regulated Electric
6.46B
43.6 Composite
$58.70 Latest close
Valuation 57.9
Utilities - Diversified
6.43B
43.2 Composite
$2.96 Latest close
Health 50.9
Utilities - Regulated Gas
6.29B
43.6 Composite
$82.51 Latest close
Efficiency 60.9
Utilities - Regulated Electric
5.87B
44.5 Composite
$4.24 Latest close
Health 53.5
Utilities - Renewable
5.65B
53.4 Composite
$91.87 Latest close
Valuation 63.6
Utilities - Regulated Gas
5.50B
39.7 Composite
$54.18 Latest close
Growth 61.2
Utilities - Regulated Electric
5.42B
40.4 Composite
$45.52 Latest close
Efficiency 50.6
Utilities - Regulated Gas
5.25B
45.4 Composite
$88.87 Latest close
Growth 63.5
Utilities - Diversified
5.24B
43.9 Composite
$1.82 Latest close
Health 48.9
Utilities - Regulated Gas
5.02B
47.5 Composite
$79.94 Latest close
Efficiency 74.8
Utilities - Regulated Electric
4.94B
40.5 Composite
$80.29 Latest close
Valuation 47.3
Utilities - Regulated Gas
4.70B
42.6 Composite
$38.25 Latest close
Growth 63.0
Utilities - Regulated Electric
4.38B
37.2 Composite
$23.52 Latest close
Growth 54.1
Utilities - Diversified
4.32B
39.3 Composite
$5.61 Latest close
Efficiency 61.2
Utilities - Independent Power Producers
4.03B
51.3 Composite
$12.77 Latest close
Growth 56.4
Utilities - Independent Power Producers
3.95B
50.0 Composite
$69.78 Latest close
Profitability 62.1
Utilities - Diversified
3.84B
36.9 Composite
$91.51 Latest close
Valuation 51.2
Utilities - Regulated Water
3.47B
53.0 Composite
$87.59 Latest close
Valuation 67.4
Utilities - Independent Power Producers
3.39B
51.3 Composite
$65.10 Latest close
Growth 73.2
Utilities - Regulated Gas
3.36B
47.6 Composite
$139.29 Latest close
Efficiency 57.3
Utilities - Diversified
3.21B
47.8 Composite
$38.37 Latest close
Efficiency 55.0
Utilities - Regulated Water
3.11B
44.6 Composite
$49.48 Latest close
Growth 56.5
Utilities - Regulated Water
3.02B
57.3 Composite
$14.68 Latest close
Growth 82.7
Utilities - Regulated Electric
2.85B
50.7 Composite
$75.33 Latest close
Valuation 61.8
Utilities - Renewable
2.50B
54.8 Composite
$6.85 Latest close
Profitability 75.1
Utilities - Regulated Gas
2.15B
42.0 Composite
$21.28 Latest close
Growth 68.9
Utilities - Regulated Gas
2.14B
38.3 Composite
$50.73 Latest close
Efficiency 50.1
Utilities - Regulated Electric
1.57B
55.8 Composite
$10.35 Latest close
Growth 80.7
Utilities - Regulated Electric
1.51B
40.0 Composite
$8.76 Latest close
Health 51.0
Utilities - Regulated Gas
1.19B
42.1 Composite
$17.80 Latest close
Efficiency 62.0
Utilities - Regulated Water
1.12B
50.1 Composite
$58.33 Latest close
Valuation 67.4
Utilities - Diversified
1.03B
45.1 Composite
$56.44 Latest close
Efficiency 77.8
Utilities - Renewable
909.73M
57.4 Composite
$9.65 Latest close
Efficiency 72.9
Utilities - Regulated Electric
687.10M
41.5 Composite
$15.16 Latest close
Growth 64.5
Utilities - Renewable
536.43M
34.8 Composite
$2.95 Latest close
Efficiency 48.8
Utilities - Regulated Water
520.90M
57.2 Composite
$32.10 Latest close
Valuation 69.8
Utilities - Regulated Electric
440.30M
45.5 Composite
$16.73 Latest close
Health 57.0
Utilities - Regulated Water
438.91M
52.2 Composite
$27.41 Latest close
Efficiency 67.9
Utilities - Regulated Water
351.20M
46.5 Composite
$34.01 Latest close
Valuation 56.4
Utilities - Regulated Water
345.48M
27.9 Composite
$4.08 Latest close
Efficiency 51.9
Utilities - Diversified
345.22M
39.9 Composite
$2.41 Latest close
Growth 57.9
Utilities - Renewable
283.94M
47.1 Composite
$20.60 Latest close
Growth 55.3
Utilities - Regulated Gas
261.26M
40.9 Composite
$1.50 Latest close
Efficiency 53.3
Utilities - Regulated Water
256.16M
56.3 Composite
$10.63 Latest close
Growth 68.0
Utilities - Regulated Gas
240.10M
41.9 Composite
$23.04 Latest close
Efficiency 68.0
Utilities - Regulated Water
231.50M
47.9 Composite
$8.04 Latest close
Valuation 59.5
Utilities - Regulated Gas
61.86M
21.8 Composite
$4.38 Latest close
Valuation 30.1
Utilities - Renewable
44.50M
44.4 Composite
$1.00 Latest close
Profitability 61.5
Utilities - Renewable
29.39M
37.8 Composite
$4.71 Latest close
Efficiency 50.1
Utilities - Renewable
12.48M
40.1 Composite
$1.66 Latest close
Growth 65.4
Utilities - Renewable
3.76M
31.4 Composite
$2.24 Latest close
Growth 55.3
Utilities - Renewable
1.51M
31.2 Composite
$2.97 Latest close
Efficiency 60.7
Utilities - Renewable
1,098
44.4 Composite
$0.00 Latest close
Growth 65.4
Utilities - Diversified
-
33.9 Composite
- No price data
Efficiency 39.4
Utilities - Renewable
-
0.0 Composite
- No price data
No pillar score -
Utilities - Regulated Electric
-
64.9 Composite
- No price data
Valuation 100.0
Utilities - Diversified
-
46.8 Composite
$15.54 Latest close
Growth 63.1
Utilities - Diversified
-
46.8 Composite
$15.53 Latest close
Growth 63.1
Utilities - Renewable
-
50.6 Composite
$17.09 Latest close
Profitability 59.0
Utilities - Regulated Water
-
25.2 Composite
$19.65 Latest close
Efficiency 51.9
Utilities - Renewable
-
0.0 Composite
- No price data
No pillar score -
Utilities - Renewable
-
37.7 Composite
- No price data
Efficiency 81.7
Utilities - Regulated Electric
-
37.4 Composite
$15.77 Latest close
Valuation 86.9
Utilities - Diversified
-
38.0 Composite
- No price data
Health 48.5
Utilities - Regulated Electric
-
47.5 Composite
$20.15 Latest close
Growth 57.6
Utilities - Renewable
-
45.2 Composite
- No price data
Valuation 100.0
Utilities - Renewable
-
0.0 Composite
- No price data
No pillar score -
Utilities - Regulated Electric
-
0.0 Composite
- No price data
No pillar score -
Utilities - Regulated Electric
-
59.3 Composite
$47.68 Latest close
Growth 85.7
Utilities - Regulated Electric
-
59.3 Composite
$51.56 Latest close
Growth 85.7
Utilities - Renewable
-
55.5 Composite
$0.00 Latest close
Profitability 73.4
Utilities - Regulated Water
-
0.0 Composite
- No price data
No pillar score -
Utilities - Regulated Gas
-
40.1 Composite
$25.00 Latest close
Valuation 80.6
Utilities - Regulated Electric
-
46.2 Composite
$25.62 Latest close
Health 68.9

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Methodology

How We Analyse Regulated Utilities

This framework combines industry-specific diagnostics, moat context, and peer benchmarks so each signal stays grounded in how this business model actually compounds.

125 companies tracked Regulated Utilities
Read the framework

We group regulated electric, gas, water, diversified utility, renewable, and independent power businesses into a separate framework because their economics are defined by regulated returns on capital rather than competitive volume growth. The money-flow engine rebuilds the story around revenue stability, EBITDA, net income, and especially FFO-style cash generation, debt service, and dividend support.

The trade-off and moat layers mirror that logic. Asset growth stands in as a rate-base proxy, ROE and cash conversion are treated as profitability anchors, and safety tolerates more leverage than a generic industrial framework as long as debt service remains strong. The StatsAlpha(TM) moat model emphasizes regulatory franchise, rate-base return quality, dividend sustainability, capital-structure discipline, operating efficiency, and essential-service resilience.

On valuation, the current defaults still sit in the broader corporate DCF family, but with lower discount rates, slower growth, and regulated-margin assumptions. So this profile should be read as a utility-native operating and risk framework paired with conservative DCF-style valuation defaults. This framework is for informational purposes only, not investment advice.

Signal Stack

Each layer answers a different question: where value is created, what protects it, and how execution compares with the rest of the coverage set.

For informational purposes only
Money Flow Engine Regulated Utilities
Moat Template Regulated Utilities
Fair Value Lens Utilities
Trade-Off Cluster Regulated Utilities
Transparency

Benchmarks and narrative cues are meant to clarify what the framework is seeing in the data. They are not investment advice.

01
Frame the universe

Coverage starts with the companies that actually operate inside this business model, so peer comparisons stay relevant instead of generic.

Coverage 125 companies
02
Apply the operating lens

The Regulated Utilities layer isolates the cash-flow mechanics, capital demands, and operating risk that matter most for this industry.

Core lens Regulated Utilities
03
Benchmark durability

We then layer in Regulated Utilities, pillar ranges, and peer leaders to show what strong execution looks like relative to the broader cohort.

Context Regulated Utilities
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