Chesapeake Utilities Corp.
CPKHIGH VELOCITYFILING INTENSITYChesapeake Utilities Corp. reads as an High Velocity (composite 78/100); Consistent Strategic Buyer deploying $928M across 3 disclosed transactions, up 1218% vs the prior cycle · primary market Energy Infrastructure.
Lens
Disclosed M&A capital (2023–2025)
$928M
vs $70M in 2020–2022
Disclosed transactions
3
3/3 active fiscal years in window
Buyer archetype
Consistent Strategic Buyer
Meaningful spend appears across repeat years.
Composite score
78
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $1.2B disclosed buyer spend
- Filed within 18d
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 18d
- 321 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 8 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 1 divestiture 8-K
- Latest event 21y ago; heavily discounted
- 8 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 8 activism filings
- Latest activism 27y ago; heavily discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 8 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 3 auditor changes
- 1 NT late filing
- Latest event 12y ago; heavily discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 321 8-Ks
- Filed within 18d
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $4.7B
- 10-Q 20d ago
- 4 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $927M · Peak count: 3
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | 1 | N/A | N/A | N/A |
| 2024 | N/A | $600K | N/A | N/A |
| 2023 | 2 | $927M | $464M | N/A |
| 2022 | 3 | $12M | $4M | N/A |
| 2021 | 1 | $36M | $36M | N/A |
| 2020 | 3 | $22M | $7M | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Geographic Expansion20%
- Horizontal Consolidation20%
- Bolt On20%
- Platform20%
- Technology Acquisition20%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- geographic_expansion
- horizontal_consolidation
- bolt_on
- platform
- technology_acquisition
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“There are multiple strategic benefits to this acquisition including it: (i) expands the Company's propane territory into North Carolina and South Carolina while also expanding our existing footprint in Pennsylvania and Virginia, and (ii) includes an established customer base with opportunities for future growth.”
“authorization to make certain changes to tariffs to include the consolidation of rates and rate structure across the businesses and to unify the Florida Natural Gas distribution business under FPU”
“On December 15, 2021, Sharp Energy acquired the propane operating assets of Diversified Energy Company for approximately $37.5 million net of cash acquired.”
“authorization to retain the acquisition adjustment recorded at the time of the FPU merger in our revenue requirement”
“Facilities and maintenance costs due to consolidation of facilities”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Energy Infrastructure
- Market spend (2023–2025)
- $86.6B
- Market spend (2020–2022)
- $40.3B
- Recent vs prior
- +115%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
CPK trades at a -0.7-turn discount to the Energy Infrastructure peer median of 12.9×.
- EV / Revenue
- 4.8×
- Net debt / EBITDA
- 0.5×
- Peer median EV / EBITDA
- 12.9×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
| 19.9× | 11.8× | 9.3× | $1.5B | $1B | |
| 13.3× | 4.8× | -0.3× | $9.3B | $3.7B | |
SLB LimitedSLB | 12.5× | 2.5× | 0.9× | $35.9B | $5.8B |
Chesapeake Utilities Corp.CPK | 12.2× | 4.8× | 0.5× | $985M | $928M |
| 7.0× | 2.7× | -0.2× | $58.3B | $2.7B |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Energy Infrastructure. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)322026-02-25
- 10-Q (quarterly)962026-05-06
- 8-K (event)3212026-05-08
- Proxy / DEF 14A392026-03-25
- Activism (13D / DFAN / PREC)81999-11-22
Signals on file
- elevated
Auditor change
2014-10-063 Item 4.01 filings on file; certifying accountant change.
- watch
Late-filing notice
1995-08-151 NT 10-K/10-Q filing on file.
- watch
Divestiture / strategic-alternatives 8-K
2005-10-241 8-K filing matching divestiture / strategic-alternatives language.
- elevated
Activism on file
1999-11-228 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Spin/Carve candidate
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.