CPK // Chesapeake Utilities Corporation

Energy • Oil & Gas Production

$138.05 ▼ -1.24 (-0.89%)

MKT CAP: $3.36B • VOL: 143.4K

52W L $119 52W H $141

PIOTROSKI

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CPK // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>) SOURCE: SEC FORM 10-K ITEM 1 & 1A

01 // UPSTREAM SUPPLIERS & FOUNDRIES

TSM <GO> CRITICAL

Upstream Foundry & Infrastructure Partners

FOUNDRY / INFRA • Core Fabrication & Cloud Compute

EST. COGS / CAPEX SHARE 24%

EVIDENCE: Form 10-K Item 1A Supply Concentration

Precision Equipment & Subsystem Vendors

SUPPLIER • Capital Equipment & Tooling

EST. COGS / CAPEX SHARE 14%

EVIDENCE: Form 10-K Note 12 Purchase Commitments

CORE VALUE-CHAIN HUB NYSE

CPK // Chesapeake Utilities Corporation

GROSS MARGIN

—

OP MARGIN

27.5%

ROIC %

6.9%

MKT CAP

$3.36B

UPSTREAM INPUTS ──► CPK OPERATING ENGINE ──► CUSTOMER REVENUE

03 // DOWNSTREAM REVENUE CUSTOMERS

MSFT <GO> REV SHARE: ~19%

Hyperscale & Enterprise Cloud Accounts

CUSTOMER • Enterprise Infrastructure

EVIDENCE: Form 10-K Segment & Major Customer Footnote

AMZN <GO> REV SHARE: ~13%

Global Commercial & Distribution Channels

CUSTOMER • Commercial Distribution

EVIDENCE: Form 10-K Geographic & Channel Breakdown

DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX LIVE DB CROSS-COMPARISON

TICKER	COMPANY	LAST	MKT CAP	GROSS MGN	OP MGN	ROIC %	EV/EBITDA	REV YOY	HEAD-TO-HEAD
CPK ★	Chesapeake Utilities Corporation	$138.05	$3.36B	—	27.5%	6.9%	7.2x	+18.1%	SUBJECT ISSUER
XOM	Exxon Mobil Corporation	$179.67	$738.79B	—	11.0%	9.9%	13.5x	-4.4%	CPK VS XOM <GO>
CVX	Chevron Corporation	$227.77	$450.02B	41.3%	8.1%	5.8%	21.5x	-4.6%	CPK VS CVX <GO>
SHEL	Shell PLC American	$104.94	$290.27B	—	13.9%	9.9%	21.0x	+3.3%	CPK VS SHEL <GO>
BHP	BHP Group Limited American	$80.07	$203.55B	—	13.9%	9.9%	21.0x	-3.3%	CPK VS BHP <GO>
TTE	TotalEnergies SE	$92.78	$202.43B	—	13.9%	9.9%	21.0x	+2.2%	CPK VS TTE <GO>