U 
United Utilities Group UU.L · GBp
Utilities · Water Utilities · LSE · 🇬🇧 United Kingdom
FTSE 100
1,546.00p
+0.19%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£2.62bn
FY2017FY2026
Net income
£586.8m
FY2017FY2026
Free cash flow
−£110.2m
FY2017FY2026
Shareholders' equity
£2.24bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £2.62bn | £2.15bn | £1.95bn | £1.82bn | £1.86bn | £1.81bn | £1.86bn | £1.82bn | £1.74bn | £1.70bn |
| Research and development | — | — | £700,000 | £1.2m | £1.2m | £1.0m | £1.0m | £1.2m | £1.2m | £2.3m |
| Operating income | £1.09bn | £631.5m | £480.2m | £441.4m | £641.5m | £641.0m | £688.0m | £688.3m | £651.9m | £626.2m |
| Net income | £586.8m | £264.7m | £126.9m | £204.9m | −£56.8m | £453.4m | £106.8m | £363.4m | £354.6m | £433.9m |
| Diluted earnings per share | 0.86 | 0.39 | 0.19 | 0.30 | -0.08 | 0.66 | 0.16 | 0.53 | 0.52 | 0.64 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £18.13bn | £16.77bn | £15.65bn | £14.53bn | £14.44bn | £14.18bn | £14.04bn | £13.19bn | £13.00bn | £12.43bn |
| Cash and short-term investments | £1.79bn | £1.67bn | £1.40bn | £340.4m | £240.9m | £744.1m | £528.1m | £339.3m | £510.0m | £247.8m |
| Total liabilities | £15.89bn | £14.77bn | £13.60bn | £12.02bn | £11.48bn | £11.15bn | £11.08bn | £10.08bn | £10.05bn | £9.60bn |
| Debt | £11.49bn | £10.79bn | £10.00bn | £8.44bn | £7.98bn | £8.45bn | £8.36bn | £7.82bn | £7.91bn | £7.38bn |
| Shareholders' equity | £2.24bn | £2.00bn | £2.06bn | £2.51bn | £2.96bn | £3.03bn | £2.96bn | £3.11bn | £2.95bn | £2.82bn |
| Shares outstanding | 684m | 684m | 683m | 683m | 682m | 682m | 684m | 683m | 683m | 683m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £1.38bn | £918.1m | £745.1m | £787.5m | £934.4m | £859.4m | £810.3m | £832.3m | £815.6m | £820.8m |
| Capital spending | −£1.49bn | −£998.0m | −£764.1m | −£675.9m | −£609.0m | −£610.4m | −£652.8m | −£622.3m | −£698.6m | −£672.4m |
| Free cash flow | −£110.2m | −£79.9m | −£19.0m | £111.6m | £325.4m | £249.0m | £157.5m | £210.0m | £117.0m | £148.4m |
| Dividends paid | −£357.6m | −£344.1m | −£320.0m | −£301.2m | −£295.5m | −£291.9m | −£284.5m | −£274.4m | −£267.0m | −£263.1m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.31bn | £1.31bn | £1.06bn | £1.08bn | £967.5m | £982.0m | £491.0m | £905.1m |
| Operating income | £541.9m | £548.8m | £298.1m | £333.4m | £243.5m | £243.1m | £15.0m | £182.2m |
| Net income | £346.8m | £240.0m | £161.6m | £103.1m | £10.1m | £116.8m | £58.4m | −£148.1m |
| Diluted earnings per share | 0.51 | 0.35 | 0.24 | 0.15 | 0.01 | 0.17 | 0.09 | -0.22 |
| Cash from operations | £695.0m | £686.0m | £444.0m | £473.0m | £364.0m | £380.0m | — | £193.0m |
| Capital spending | −£854.0m | −£637.0m | −£552.0m | −£436.0m | −£392.0m | −£359.0m | — | −£176.0m |
| Free cash flow | −£159.0m | £49.0m | −£108.0m | £37.0m | −£28.0m | £21.0m | — | £17.0m |
| Total assets | £18.13bn | £17.53bn | £16.77bn | £16.46bn | £15.65bn | £15.01bn | £15.01bn | £14.53bn |
| Cash and short-term investments | £1.79bn | £1.94bn | £1.67bn | £1.81bn | £1.40bn | £828.8m | £828.8m | £340.4m |
| Debt | £11.40bn | £11.30bn | £10.71bn | £10.63bn | £9.95bn | £9.09bn | £8.98bn | £8.37bn |
| Shareholders' equity | £2.24bn | £1.99bn | £2.00bn | £1.94bn | £2.06bn | £2.17bn | £2.17bn | £2.51bn |
Financial ratios
Data as of 6 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 41.7% | 33.9% | 28.4% | 41.3% | 41.5% | 40.5% | — | — |
| Net margin | 22.4% | 12.3% | 6.5% | 11.2% | -3.0% | 25.1% | — | — |
| Return on equity | 26.2% | 13.2% | 6.2% | 8.2% | -1.9% | 15.0% | — | — |
| Return on assets | 3.2% | 1.6% | 0.8% | 1.4% | -0.4% | 3.2% | — | — |
| Free cash flow yield | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | — | — |
| Revenue growth | 22.0% | 10.0% | 6.9% | -2.1% | 3.0% | -2.8% | — | — |
| Earnings growth | 121.7% | 108.6% | -38.1% | -460.7% | -112.5% | 324.5% | — | — |
| Current ratio | 2.55x | 1.94x | 1.60x | 1.20x | 0.89x | 1.02x | — | — |
| Debt to equity | 5.09x | 5.35x | 4.84x | 3.34x | 2.68x | 2.77x | — | — |
| Equity ratio | 12.4% | 11.9% | 13.1% | 17.3% | 20.5% | 21.4% | — | — |
| Interest coverage | 2.62x | 1.95x | 1.46x | 1.51x | 2.34x | 4.03x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| Buybacks as a share of market value | -0.0% | -0.0% | -0.0% | -0.2% | 0.0% | 0.2% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.8% | 7.7% | 4.2% |
| Operating income | 35.2% | 11.2% | 6.7% |
| Net income | 42.0% | 5.3% | 4.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 36.2% | 31.0% | 32.2% | 34.0% |
| Net margin | 17.9% | 13.9% | 12.9% | 15.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 17.7 | 30.9 | 56.6 | 35.3 | -119.0 | 16.4 | 57.3 | 17.7 | 14.2 | 13.1 |
| Price to sales | 4.0 | 3.8 | 3.7 | 4.0 | 3.6 | 4.1 | 3.3 | 3.5 | 2.9 | 3.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 25 Jun 2026.
| FY2027 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.358 | 0.697 | 0.718 | 0.455 | 0.435 | 0.432 | 0.284 | 0.417 |
- 22-to-17 reverse split · 28 Jul 2008
- 1.033-for-1 split · 19 Sept 1995
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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