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Gas and multi-utilities

The 11 companies in this industry listed on the NYSE and Nasdaq are worth $90 bn combined; the largest are Atmos Energy (ATO), NiSource (NI) and UGI Corporation (UGI). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

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11 companies value 90 bn revenue 37 bn margin 15.5% free cash flow -3.4 bn avg. score 3.1
ATO holds 31.0% of the group's value, 1.4x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 ATO Atmos Energy
United States · score 1.9
31% 28 bn 4.9 bn 28.5% -2.0 bn -7.3% 2.3% Regulated natural gas distribution · Largest US pure-play natural gas distributor; 40 years of rising dividends
2 NI NiSource
United States · score 1.4
22% 20 bn 11 bn 8.0% -1.1 bn -5.4% 2.8% Natural gas and electricity distribution in the Midwest · Gas and electric distribution in the Midwest; a strong investment plan
3 UGI UGI Corporation
United States · score 4.8
9% 8.2 bn 7.3 bn 9.2% 0.2 bn 2.3% 3.9% Propane, natural gas and electricity distribution · Natural gas distribution and the largest US propane network
4 NFG NATIONAL FUEL GAS CO
United States · score 5.8
8% 7.4 bn 2.5 bn 26.9% 0.2 bn 3.0% 2.7% Integrated natural gas: production, pipelines and distribution · New York — revenue of $2.5bn
5 SWX Southwest Gas Holdings
United States · score 1.6
7% 6.3 bn 1.8 bn 30.7% -0.5 bn -8.4% 2.9% Natural gas distribution in the US Southwest · Natural gas in Arizona and Nevada, regions with strong population growth
6 NJR NEW JERSEY RESOURCES CORP
United States · score 7.0
6% 5.2 bn 1.5 bn 24.0% 0.7 bn 12.7% 3.6% Natural gas distribution in New Jersey, plus clean energy · New Jersey — revenue of $1.5bn
7 SR SPIRE INC
United States · score 2.1
5% 4.8 bn 2.6 bn 21.4% -0.2 bn -4.6% 4.0% Natural gas distribution in the Midwest and Alabama · Missouri — revenue of $2.6bn
8 OGS ONE Gas
United States · score 3.0
5% 4.7 bn 2.3 bn 12.7% -0.2 bn -3.7% 3.5% Regulated natural gas distribution, from Tulsa · Natural gas distribution in Oklahoma, Kansas and Texas
9 CPK CHESAPEAKE UTILITIES CORP
United States · score 2.0
4% 3.1 bn 1.0 bn 15.1% -0.2 bn -6.2% 2.1% Natural gas, electricity and propane in the Mid-Atlantic · Delaware — revenue of $994m
10 NWN Northwest Natural Holding Co
United States · score 1.4
2% 2.0 bn 1.3 bn 9.7% -0.3 bn -13.2% 3.9% Natural gas distribution in Oregon and Washington · Oregon — revenue of $1.3bn
11 RGCO RGC RESOURCES INC
United States · score 3.6
0% 0.2 bn 0.1 bn 13.1% 0.0 bn 0.9% 3.7% Natural gas distribution in Roanoke, Virginia · Virginia — revenue of $107m

Other industries in the same sector

What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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