Chesapeake Utilities Corporatio CPK

Competitive advantage analysis · utilities

Regulated Utilities
Overall moat score
67/100
Moderate

About Chesapeake Utilities Corporatio

Chesapeake Utilities Corporation operates as an energy delivery company in the United States. It operates through two segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in … Full CPK analysis →

Competitive advantage assessment

Key strengths

  • Strong Regulated Margins Regulated margin level is strong (score 0.81), indicating favourable rate-case outcomes.
  • Investment-Grade Interest Coverage Interest coverage is strong (score 0.88), supporting investment-grade credit metrics.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Regulatory Franchise

Moderate
53

Where CPK ranks in Utilities - Regulated Gas

Chesapeake Utilities Corporatio ranks #2 of 16 scored companies in Utilities - Regulated Gas by moat score — the top 12%. The widest moat in the group is Atmos Energy Corporation (ATO) at 70/100.

Moat scores for companies ranked near CPK in Utilities - Regulated Gas
# Company Moat score Rating
1 Atmos Energy Corporation ATO 70/100 Moderate
2 Chesapeake Utilities Corporatio CPK 67/100 Moderate
3 NiSource Inc NI 66/100 Moderate
4 RGC Resources Inc. RGCO 64/100 Moderate
5 Suburban Propane Partners, L.P. SPH 62/100 Moderate
6 NewJersey Resources Corporation NJR 61/100 Moderate
7 Black Hills Corporation BKH 59/100 Moderate
8 Northwest Natural Holding Compa NWN 54/100 Moderate
9 ONE Gas, Inc. OGS 54/100 Moderate

See every Regulated Utilities company ranked by moat score →

How CPK scores on the Regulated Utilities defenses

Regulatory Franchise

Score 53 · 25% of the moat score

The franchise is the moat, granted rather than earned: an exclusive right to serve a territory in exchange for regulated prices and an obligation to supply.

Rate-Base Return Quality

Score 56 · 20% of the moat score

A utility earns an allowed return on the capital invested in its network, the rate base.

Dividend Sustainability

Score 76 · 18% of the moat score

Utilities are owned largely for income, and the dividend is only as safe as the operating cash flow behind it.

Capital Structure Discipline

Score 78 · 17% of the moat score

Regulated utilities carry more debt than almost any other sector, which suits how predictable their revenue is but makes credit quality a core competitive asset.

Operational Efficiency

Score 78 · 12% of the moat score

Efficiency is unusually consequential under regulation.

Essential Service Resilience

Score 89 · 8% of the moat score

Electricity, gas and water are bought in a recession at close to the volume bought in an expansion, which is why utility revenue barely tracks the economic cycle.

How each Regulated Utilities defense is measured, in full →

Understanding CPK's moat

What is Chesapeake Utilities Corporatio's moat score?

Chesapeake Utilities Corporatio (CPK) scores 67 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #2 of 16 scored companies in Utilities - Regulated Gas, the top 12%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 16 companies in Utilities - Regulated Gas. Its strongest defense is Essential Service Resilience (89/100) and its weakest is Regulatory Franchise (53/100).

How does Chesapeake Utilities Corporatio compare with other Utilities - Regulated Gas companies?

Chesapeake Utilities Corporatio ranks #2 of 16 scored companies in Utilities - Regulated Gas by moat score. The widest moat in Utilities - Regulated Gas is Atmos Energy Corporation (ATO) at 70/100. The companies ranked closest are Atmos Energy Corporation (ATO) at 70 just above it and NiSource Inc (NI) at 66 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Regulated Utilities in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 16 companies in Utilities - Regulated Gas. The defenses are then weighted to produce the overall score out of 100.

Why is Chesapeake Utilities Corporatio scored with the Regulated Utilities template?

A regulated utility is a legal monopoly whose prices are set by a regulator rather than by a market. It cannot raise prices at will and it cannot be undercut, so most of the usual questions about competitive advantage barely apply. What matters is the quality of the regulatory bargain: whether the company earns the return it is allowed, funds its capital programme cheaply, and sustains the dividend investors own it for.

Which competitive defenses are measured for Chesapeake Utilities Corporatio?

The Regulated Utilities template measures 6 defenses, and CPK scores: Regulatory Franchise (53), Rate-Base Return Quality (56), Dividend Sustainability (76), Capital Structure Discipline (78), Operational Efficiency (78), Essential Service Resilience (89). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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