Reaves Utility Income Fund (New York Stock Exchange Arca:UTG)
Insiders here have filed 3 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Keeps a healthy share of every dollar it sells.
- Revenue
- $532.0M
- Net income
- $2.01B
- Net margin
- 377.6%
Little or no net debt.
- Total debt
- $950.0M
- Cash
- $0
- Net debt / EBITDA
- 0.46x
Current assets or liabilities not reported.
- Current assets
- $51.6M
- Current liabilities
- $0
- Current ratio
- —
The business funds itself from operations.
- Operating cash flow
- $61.0M
- Free cash flow
- $61.0M
- FCF margin
- 11.5%
Heavy dilution — shareholders are paying for the business.
- Shares outstanding
- 92.1M
- Share growth (1y)
- 17.7%
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
UTG Income Statement
| Fiscal Period | Q2 2026 | Q4 2025 | Q2 2025 | Q4 2024 | Q2 2024 | Q4 2023 |
|---|---|---|---|---|---|---|
| Period Ending | Apr 30, 2026 | Oct 31, 2025 | Apr 30, 2025 | Oct 31, 2024 | Apr 30, 2024 | Oct 31, 2023 |
| Revenue | 123.02 M | 76.73 M | 199.12 M | 133.13 M | 116.41 M | 90.75 M |
| Revenue Growth (YoY) | 5.68 % | -15.45 % | 66.39 % | 108.59 % | -15.16 % | 55.19 % |
| Cost of Revenue | 15.23 M | 14.39 M | 12.59 M | 11.11 M | 9.56 M | 9.38 M |
| Gross Profit | 107.78 M | 62.34 M | 186.54 M | 122.03 M | 106.85 M | 81.36 M |
| SG&A Expense | 0.00 | 0.00 | 0.00 | -550.12 M | 120.78 M | -422.67 K |
| R&D Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | -497.76 M | -626.75 M | 68.90 M | -550.12 M | 120.78 M | 308.82 M |
| Operating Income | 605.54 M | 689.09 M | 117.64 M | 672.15 M | 227.63 M | -227.45 M |
| Pretax Income | 585.51 M | 669.41 M | 99.73 M | 654.07 M | 211.22 M | -242.99 M |
| Tax Provision | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | 585.51 M | 669.41 M | 99.73 M | 654.07 M | 211.22 M | -242.99 M |
| EPS (Basic) | 6.36 | 7.45 | 1.12 | 7.65 | 2.70 | -3.15 |
| EPS (Diluted) | 6.36 | 7.45 | 1.12 | 7.65 | 2.70 | -3.15 |
| Shares Outstanding | 92.11 M | 89.83 M | 89.23 M | 85.50 M | 78.23 M | 77.20 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.