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AWR logoAmerican States Water Company(AWR)Earnings, Financials & Key Ratios

AWR•NYSE•Utilities
$76.20
$2.95B mkt cap·22.6× P/E·Price updated May 6, 2026
SectorUtilitiesIndustryWater UtilitiesSub-IndustryMulti-Utility Regulated Water Providers
AboutAmerican States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity. As of December 31, 2021, American States Water Company provided water service to 262,770 customers located throughout 10 counties in the State of California; and distributed electricity to 24,656 customers in San Bernardino County mountain communities in California. The company also provides water and/or wastewater services, including the operation, maintenance, and construction of facilities at the water and/or wastewater systems at various military installations. American States Water Company was incorporated in 1929 and is based in San Dimas, California.Show more
  • Revenue$658M+10.5%
  • EBITDA$251M+9.8%
  • Net Income$130M+9.4%
  • Free Cash Flow-$237M-612.7%
  • EBITDA Margin38.15%-0.7%
  • Net Margin19.82%-1.0%
  • ROE13.27%-5.6%
  • Debt/Equity0.12-88.4%
  • Net Debt/EBITDA0.49-87.7%
  • CapEx / Revenue35.99%-7.6%
  • CapEx Coverage0.00-100.0%
Technical→

AWR Key Insights

American States Water Company (AWR) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓24 years of consecutive dividend growth
  • ✓24 consecutive years of dividend growth
  • ✓Healthy dividend yield of 2.5%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

AWR Price & Volume

American States Water Company (AWR) stock price & volume — 10-year historical chart

Loading chart...

AWR Growth Metrics

American States Water Company (AWR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years3.68%
5 Years6.15%
3 Years10.22%
TTM10.28%

Profit CAGR

10 Years7.99%
5 Years8.58%
3 Years18.5%
TTM16.96%

EPS CAGR

10 Years7.73%
5 Years7.66%
3 Years16.89%
TTM13.8%

Return on Capital

10 Years9.07%
5 Years9.38%
3 Years10.39%
Last Year12%

AWR Recent Earnings

American States Water Company (AWR) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 9/12 qtrs (75%)
Q1 2026Latest
Feb 18, 2026
EPS
$0.74
Est $0.75
-1.5%
Revenue
$164M
Est $135M
+21.7%
Q4 2025
Nov 5, 2025
EPS
$1.06
Est $1.01
+5.0%
Revenue
$183M
Est $169M
+8.2%
Q3 2025
Aug 6, 2025
EPS
$0.87
Est $0.92
-5.4%
Revenue
$163M
Est $171M
-4.4%
Q2 2025
May 7, 2025
EPS
$0.70
Est $0.70
+0.0%
Revenue
$148M
Est $146M
+1.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 18, 2026
$0.74vs $0.75-1.5%
$164Mvs $135M+21.7%
Q4 2025Nov 5, 2025
$1.06vs $1.01+5.0%
$183Mvs $169M+8.2%
Q3 2025Aug 6, 2025
$0.87vs $0.92-5.4%
$163Mvs $171M-4.4%
Q2 2025May 7, 2025
$0.70vs $0.70+0.0%
$148Mvs $146M+1.5%
Based on last 12 quarters of dataView full earnings history →

AWR Peer Comparison

American States Water Company (AWR) competitors in Multi-Utility Regulated Water Providers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
WTRG logoWTRGEssential Utilities, Inc.Direct Competitor10.62B37.4917.0418.62%24.91%9.18%1.22
CWT logoCWTCalifornia Water Service GroupDirect Competitor2.58B43.0420.02-3.54%11.77%6.95%0.95
MSEX logoMSEXMiddlesex Water CompanyDirect Competitor946.36M50.9321.581.47%22.07%9.07%0.85
YORW logoYORWThe York Water CompanyDirect Competitor464.9M29.1120.943.37%25.89%8.89%0.97
ARTNA logoARTNAArtesian Resources CorporationDirect Competitor323.19M31.4114.214.62%20.21%9.26%0.73
AWK logoAWKAmerican Water Works Company, Inc.Product Competitor24.62B126.0522.119.74%21.17%10.14%1.47
GWRS logoGWRSGlobal Water Resources, Inc.Product Competitor202.11M7.0363.915.82%5.3%3.58%0.09
XYL logoXYLXylem Inc.Supply Chain27.67B116.3929.695.52%10.7%8.51%3.29%0.17

Compare AWR vs Peers

American States Water Company (AWR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WTRG

Most directly comparable listed peer for AWR.

Scale Benchmark

vs NEE

Larger-name benchmark to compare AWR against a more recognizable public peer.

Peer Set

Compare Top 5

vs WTRG, CWT, MSEX, YORW

AWR Income Statement

American States Water Company (AWR) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue440.6M436.82M473.87M488.24M498.85M491.53M595.7M595.46M658.07M636.89M
Revenue Growth %1.04%-0.86%8.48%3.03%2.17%-1.47%21.19%-0.04%10.52%10.28%
Cost of Revenue103.42M108.94M120.15M119.4M121.03M123.3M146.15M143.44M0190.34M
Gross Profit
337.19M▲ 0%
327.88M▼ 2.8%
353.72M▲ 7.9%
368.84M▲ 4.3%
377.82M▲ 2.4%
368.23M▼ 2.5%
449.55M▲ 22.1%
452.02M▲ 0.6%
0▼ 100.0%
446.55M▲ 0%
Gross Margin %76.53%75.06%74.65%75.54%75.74%74.91%75.47%75.91%0%70.11%
Gross Profit Growth %1.16%-2.76%7.88%4.27%2.44%-2.54%22.08%0.55%-100%-
Operating Expenses218.43M226.98M226.65M238.34M236.85M241.59M252.81M267.54M454.8M249.62M
Other Operating Expenses----------
EBITDA166.35M141.65M162.79M167.7M180.95M168.33M239.99M228.71M251.06M244.28M
EBITDA Margin %37.75%32.43%34.35%34.35%36.27%34.25%40.29%38.41%38.15%38.36%
EBITDA Growth %8.14%-14.85%14.92%3.02%7.9%-6.97%42.57%-4.7%9.77%8.84%
Depreciation & Amortization39.27M40.66M35.71M37.2M39.97M41.7M43.25M44.23M47.78M47.35M
D&A / Revenue %8.91%9.31%7.54%7.62%8.01%8.48%7.26%7.43%7.26%7.44%
Operating Income (EBIT)
127.08M▲ 0%
100.98M▼ 20.5%
127.07M▲ 25.8%
130.5M▲ 2.7%
140.98M▲ 8.0%
126.64M▼ 10.2%
196.74M▲ 55.4%
184.48M▼ 6.2%
203.28M▲ 10.2%
196.93M▲ 0%
Operating Margin %28.84%23.12%26.82%26.73%28.26%25.76%33.03%30.98%30.89%30.92%
Operating Income Growth %10.77%-20.53%25.84%2.7%8.03%-10.17%55.36%-6.23%10.19%-
Interest Expense22.58M23.43M24.59M22.53M22.83M27.03M42.76M50.38M-46.78M4M
Interest Coverage5.63x4.31x5.17x5.79x6.17x4.69x4.60x3.66x--
Interest / Revenue %5.13%5.36%5.19%4.61%4.58%5.5%7.18%8.46%-7.11%0.63%
Non-Operating Income-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-4M
Pretax Income
108.34M▲ 0%
81.89M▼ 24.4%
109.01M▲ 33.1%
114.62M▲ 5.1%
124.77M▲ 8.9%
102.06M▼ 18.2%
166.52M▲ 63.2%
149.44M▼ 10.3%
169.8M▲ 13.6%
164.12M▲ 0%
Pretax Margin %24.59%18.75%23%23.48%25.01%20.76%27.95%25.1%25.8%25.77%
Income Tax38.97M18.02M24.67M28.2M30.42M23.66M41.6M30.17M39.36M33.98M
Effective Tax Rate %35.97%22%22.63%24.6%24.38%23.19%24.98%20.19%23.18%20.71%
Net Income
69.37M▲ 0%
63.87M▼ 7.9%
84.34M▲ 32.1%
86.42M▲ 2.5%
94.35M▲ 9.2%
78.4M▼ 16.9%
124.92M▲ 59.3%
119.27M▼ 4.5%
130.44M▲ 9.4%
130.14M▲ 0%
Net Margin %15.74%14.62%17.8%17.7%18.91%15.95%20.97%20.03%19.82%20.43%
Net Income Growth %16.11%-7.92%32.05%2.47%9.17%-16.91%59.35%-4.53%9.37%16.96%
EPS (Diluted)
1.88▲ 0%
1.73▼ 8.0%
2.28▲ 31.8%
2.33▲ 2.2%
2.55▲ 9.4%
2.11▼ 17.3%
3.36▲ 59.2%
3.17▼ 5.7%
3.37▲ 6.3%
3.36▲ 0%
EPS Growth %16.05%-7.98%31.79%2.19%9.44%-17.25%59.24%-5.65%6.31%13.8%
EPS (Basic)1.881.742.282.342.552.123.373.173.37-
Diluted Shares Outstanding36.84M36.94M36.96M36.99M37.01M37.04M37.08M37.58M38.67M38.7M

AWR Balance Sheet

American States Water Company (AWR) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets1.42B1.5B1.64B1.79B1.9B2.03B2.25B2.5B1.18B2.66B
Asset Growth %-3.66%5.98%9.32%9.16%6.11%7.02%10.41%11.31%-52.93%43.19%
PP&E (Net)1.23B1.32B1.46B1.56B1.68B1.8B1.94B2.16B02.25B
PP&E / Total Assets %86.75%88.03%88.9%86.99%88.23%88.49%86.51%86.32%0%84.64%
Total Current Assets155.46M131.47M122.46M157.12M138.05M151.29M205.98M233.35M10.83M250.78M
Cash & Equivalents214K7.14M1.33M36.74M4.96M6M14.07M26.66M626K26.07M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K01000K
Inventory4.79M5.78M6.43M8.62M12.16M14.62M17.57M15.14M016.95M
Other Current Assets34.22M16.53M20.93M13.09M13.34M25.88M50.91M57.79M10.2M57.55M
Long-Term Investments539.33M-72.36M0000001.15B32.54M
Goodwill1.12M1.12M1.12M1.12M1.12M1.12M1.12M000
Intangible Assets571K571K00000000
Other Assets-516.66M5.32M58.59M74.86M84.53M81.76M95.83M108.79M0124.45M
Total Liabilities886.79M662.12M1.04B1.15B1.22B1.32B1.47B1.58B131.18M1.65B
Total Debt380.36M416.91M499.93M586.55M629.02M734.43M917.88M938.24M124M921.78M
Net Debt380.15M409.77M498.59M549.82M624.05M728.43M903.81M911.57M123.37M895.71M
Long-Term Debt321.04M376.59M481M574.55M586.68M468.55M867.05M805.38M124M909.26M
Short-Term Borrowings59.32M40.32M5.34M358K31.38M255.9M42.35M124.39M07.56M
Capital Lease Obligations0013.59M11.65M10.96M9.98M8.47M8.47M028.94M
Total Current Liabilities156.66M146.59M116M118.57M155.57M396.52M166.62M285.52M4.78M197.47M
Accounts Payable50.98M59.53M55.62M63.79M65.9M84.85M68.7M88.59M081.66M
Accrued Expenses12.97M13.84M17.3M19.95M20.8M19.3M23.34M23.66M091.12M
Deferred Revenue3.91M7.53M11.17M1.8M257K903K1.35M5.66M010.42M
Other Current Liabilities29.25M25M13.51M11.97M13.39M15.57M13.87M23.98M4.78M54.17M
Deferred Taxes1000K1000K1000K1000K1000K1000K1000K1000K1000K746.51M
Other Liabilities293.38M305.82M304.47M314.78M322.42M300.91M267.13M301.74M0343.28M
Total Equity
529.95M▲ 0%
839.31M▲ 58.4%
601.53M▼ 28.3%
641.67M▲ 6.7%
685.95M▲ 6.9%
709.55M▲ 3.4%
776.11M▲ 9.4%
920.05M▲ 18.5%
1.05B▲ 13.6%
1.01B▲ 0%
Equity Growth %-35%58.38%-28.33%6.67%6.9%3.44%9.38%18.55%13.64%69.47%
Shareholders Equity529.95M839.31M601.53M641.67M685.95M709.55M776.11M920.05M1.05B1.01B
Minority Interest0000000000
Common Stock250.12M253.69M255.57M256.67M258.44M260.16M263.18M355.14M0398.01M
Additional Paid-in Capital0000000000
Retained Earnings279.82M304.53M345.96M385.01M427.5M449.39M512.93M564.91M0611.3M
Accumulated OCI-533.37M-561.86M00000000
Return on Assets (ROA)4.81%4.38%5.37%5.04%5.11%3.98%5.84%5.03%7.1%4.9%
Return on Equity (ROE)10.31%9.33%11.71%13.9%14.21%11.24%16.82%14.06%13.27%12.89%
Debt / Equity0.72x0.50x0.83x0.91x0.92x1.04x1.18x1.02x0.12x0.12x
Debt / Assets26.85%27.77%30.46%32.74%33.09%36.1%40.87%37.53%10.54%34.72%
Net Debt / EBITDA2.29x2.89x3.06x3.28x3.45x4.33x3.77x3.99x0.49x0.49x
Book Value per Share14.3822.7216.2717.3418.5319.1620.9324.4827.0426.08

AWR Cash Flow Statement

American States Water Company (AWR) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations144.55M136.77M116.86M122.17M115.58M117.8M67.68M198.73M00
Operating CF Growth %49.1%-5.38%-14.56%4.54%-5.39%1.92%-42.54%193.62%-100%682.62%
Operating CF / Revenue %32.81%31.31%24.66%25.02%23.17%23.97%11.36%33.37%0%0%
Net Income69.37M63.87M84.34M86.42M94.35M78.4M124.92M119.27M130.44M130.14M
Depreciation & Amortization39.27M40.66M35.71M37.2M39.97M41.7M43.25M44.23M48.87M47.35M
Deferred Taxes12.15M-5.77M6.62M2.24M3.56M2.8M4.78M00-1.12M
Other Non-Cash Items-8.85M1.41M-2.7M-2.47M-3.55M6.26M-3.79M-1.41M-182.87M-1.93M
Working Capital Changes29.73M32.75M-9.63M-3.7M-21.32M-13.93M-104.79M32.91M088.58M
Capital Expenditures-113.13M-126.56M-151.94M-130.42M-144.51M-166.24M-188.54M-231.96M-236.82M-231.61M
CapEx / Revenue %25.68%28.97%32.06%26.71%28.97%33.82%31.65%38.95%35.99%36.37%
CapEx / D&A2.88x3.11x4.25x3.51x3.62x3.99x4.36x5.24x4.85x4.89x
CapEx Coverage (OCF/CapEx)1.28x1.08x0.77x0.94x0.80x0.71x0.36x0.86x0.00x0.00x
Cash from Investing-80.03M-128.04M-153.19M-131.61M-145.09M-167.1M-188.76M-232.78M-236.82M-232.63M
Acquisitions34.32M72K169K88K565K59K0000
Purchase of Investments-1.23M-1.55M-1.42M-1.27M-1.14M-921K0000
Sale of Investments00-169K-88K-565K-59K0000
Other Investing34.32M72K169K88K565K59K-224K-820K0-1.01M
Cash from Financing-64.74M-1.8M30.52M44.84M-2.27M50.34M129.16M46.64M0-24.3M
Dividends Paid-36.42M-38.94M-42.7M-47.21M-51.69M-56.36M-61.2M-67.02M-74.66M-72.73M
Dividend Payout Ratio %52.5%60.96%50.63%54.62%54.79%71.89%48.99%56.19%--
Debt Issuance (Net)-1000K1000K1000K1000K1000K1000K1000K1000K00
Stock Issued0546K519K30K00088.81M069.72M
Share Repurchases00-519K-30K000000
Other Financing2.09M958K4.05M3.77M6.48M281K6.43M5.14M74.66M2.95M
Net Change in Cash
-222K▲ 0%
6.93M▲ 3220.3%
-5.81M▼ 183.8%
35.4M▲ 709.7%
-31.77M▼ 189.7%
1.03M▲ 103.3%
8.08M▲ 681.0%
12.59M▲ 55.9%
-7.84M▼ 162.3%
9.6M▲ 0%
Exchange Rate Effect0000000000
Cash at Beginning436K214K7.14M1.33M36.74M4.96M6M14.07M26.66M20.25M
Cash at End214K7.14M1.33M36.74M4.96M6M14.07M26.66M18.82M26.07M
Free Cash Flow
31.43M▲ 0%
10.21M▼ 67.5%
-35.08M▼ 443.4%
-8.25M▲ 76.5%
-28.93M▼ 250.6%
-48.44M▼ 67.4%
-120.86M▼ 149.5%
-33.23M▲ 72.5%
-236.82M▼ 612.7%
34.92M▲ 0%
FCF Growth %195.47%-67.5%-443.44%76.47%-250.55%-67.44%-149.49%72.51%-612.72%143.38%
FCF Margin %7.13%2.34%-7.4%-1.69%-5.8%-9.86%-20.29%-5.58%-35.99%5.48%
FCF / Net Income %45.3%15.99%-41.59%-9.55%-30.66%-61.79%-96.75%-27.86%-181.55%26.83%

AWR Key Ratios

American States Water Company (AWR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)10.31%9.33%11.71%13.9%14.21%11.24%16.82%14.06%13.27%12.89%
EBITDA Margin37.75%32.43%34.35%34.35%36.27%34.25%40.29%38.41%38.15%38.36%
Net Debt / EBITDA2.29x2.89x3.06x3.28x3.45x4.33x3.77x3.99x0.49x0.49x
Interest Coverage5.63x4.31x5.17x5.79x6.17x4.69x4.60x3.66x--
CapEx / Revenue25.68%28.97%32.06%26.71%28.97%33.82%31.65%38.95%35.99%36.37%
Dividend Payout Ratio52.5%60.96%50.63%54.62%54.79%71.89%48.99%56.19%-55.89%
Debt / Equity0.72x0.50x0.83x0.91x0.92x1.04x1.18x1.02x0.12x0.12x
EPS Growth16.05%-7.98%31.79%2.19%9.44%-17.25%59.24%-5.65%6.31%13.8%

AWR SEC Filings & Documents

American States Water Company (AWR) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 27, 2026·SEC

Material company update

Mar 13, 2026·SEC

Material company update

Feb 20, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 18, 2026·SEC

FY 2025

Feb 19, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 7, 2025·SEC

AWR Frequently Asked Questions

American States Water Company (AWR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

American States Water Company (AWR) reported $636.9M in revenue for fiscal year 2025. This represents a 320% increase from $151.5M in 1996.

American States Water Company (AWR) grew revenue by 10.5% over the past year. This is steady growth.

Yes, American States Water Company (AWR) is profitable, generating $130.1M in net income for fiscal year 2025 (19.8% net margin).

Dividend & Returns

Yes, American States Water Company (AWR) pays a dividend with a yield of 2.53%. This makes it attractive for income-focused investors.

American States Water Company (AWR) has a return on equity (ROE) of 13.3%. This is reasonable for most industries.

American States Water Company (AWR) generated $34.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

American States Water Company (AWR) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

Explore More AWR

American States Water Company (AWR) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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