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UU.

United Utilities Group PLC

Utilities First-pass screen £9.9bn
320/1000 Overall fit
AI beneficiary 35% 20
Operating leverage 25% 40
Valuation 25% 20
Downside protection 15% 65

First-pass take

Defensive regulated water utility with zero AI revenue exposure and constrained operating leverage due to cost-pass-through regulation. RoRE collapsed to 1.1% (vs 4% allowed base return), dividend payout exceeds earnings at 104%, and £9bn capex program requires external financing.

Flags

no-ai-exposureno-valuation-datadividend-payout-unsustainablerore-collapsecapex-intensive-amp8moderate-leverageexecution-riskregulated-utility