This paper, based on 13 listed water utilities companies' performance from 2012 to 2014, establishes DEA model to analyze their technical and scale validation and to evaluate their performance. Results show that Yangchen B, Jiangnan Water, Guozhong Water and Jinlong are of higher technical and scale efficiency, an effective DEA; Chongqing Water, Chuangye Environmental Protection, Hongcheng Water and Shouchuang are high in pure technical efficiency but low in scale efficiency; Xianglong Electrics and Qianjiang Water are high in scale efficiency but low in pure technical efficiency; Hanlan Environment, Wuhan Holdings, and Zhongshan Public are low in both. This paper presents suggestions for listed water utilities companies in boosting internal management, increasing operation efficiency, intensifying industrial advantages and promoting competitiveness based on leading business.