American States Water Company (AWR) Financial Ratios
30 years of historical data (1996–2025) · Utilities · Regulated Water
EV/EBITDA
↓
15.45
↓-20% vs avg
5yr avg: 19.41
30Y Low6.4·High24.7
P/FCF
N/A
—
5yr avg: N/A
30Y Low16.1·High67.9
P/B Ratio
↓
2.81
↓-30% vs avg
5yr avg: 4.02
30Y Low1.0·High5.6
ROE
↓
13.3%
-5% vs avg
5yr avg: 13.9%
30Y Low6%·High17%
Debt/EBITDA
↑
3.74
↓-4% vs avg
5yr avg: 3.90
30Y Low2.0·High4.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AWR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
American States Water Company trades at 22.5x earnings, 27% below its 5-year average of 30.9x, sitting at the 43rd percentile of its historical range. Compared to the Utilities sector median P/E of 19.7x, the stock trades at a premium of 14%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.0B | $2.8B | $2.9B | $3.0B | $3.4B | $3.8B | $2.9B | $3.2B | $2.5B | $2.1B | $1.7B |
| Enterprise Value | $3.9B | $3.7B | $3.8B | $3.9B | $4.2B | $4.5B | $3.5B | $3.7B | $2.9B | $2.5B | $2.1B |
| P/E Ratio → | 22.50 | 21.51 | 24.52 | 23.93 | 43.86 | 40.56 | 34.12 | 38.00 | 38.75 | 30.80 | 28.12 |
| P/S Ratio | 4.52 | 4.26 | 4.91 | 5.01 | 6.97 | 7.67 | 6.02 | 6.76 | 5.67 | 4.84 | 3.84 |
| P/B Ratio | 2.81 | 2.68 | 3.17 | 3.84 | 4.83 | 5.58 | 4.58 | 5.32 | 2.95 | 4.03 | 2.05 |
| P/FCF | — | — | — | — | — | — | — | — | 242.45 | 67.89 | — |
| P/OCF | 12.94 | 12.20 | 14.70 | 44.05 | 29.10 | 33.12 | 24.08 | 27.40 | 18.10 | 14.76 | 17.27 |
P/E links to full P/E history page with 30-year chart
AWR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
American States Water Company's enterprise value stands at 15.5x EBITDA, 20% below its 5-year average of 19.4x. The Utilities sector median is 11.5x, placing the stock at a 34% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.66 | 6.44 | 6.52 | 8.46 | 8.93 | 7.15 | 7.81 | 6.61 | 5.71 | 4.78 |
| EV / EBITDA | 15.45 | 14.78 | 16.76 | 16.19 | 24.69 | 24.61 | 20.82 | 22.74 | 20.37 | 15.11 | 13.56 |
| EV / EBIT | 19.17 | 18.33 | 19.18 | 18.57 | 32.20 | 30.16 | 25.46 | 27.70 | 27.71 | 20.93 | 18.11 |
| EV / FCF | — | — | — | — | — | — | — | — | 282.58 | 79.99 | — |
AWR Profitability
Margins and return-on-capital ratios measuring operating efficiency
American States Water Company earns an operating margin of 30.9%, above the Utilities sector average of 19.8%. Operating margins have compressed from 33.0% to 30.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 13.3% is modest. ROIC of 8.0% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.8% | 50.8% | 75.9% | 75.5% | 74.9% | 75.7% | 75.5% | 74.6% | 75.1% | 76.5% | 76.4% |
| Operating Margin | 30.9% | 30.9% | 31.0% | 33.0% | 25.8% | 28.3% | 26.7% | 26.8% | 23.1% | 28.8% | 26.3% |
| Net Profit Margin | 19.8% | 19.8% | 20.0% | 21.0% | 15.9% | 18.9% | 17.7% | 17.8% | 14.6% | 15.7% | 13.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.3% | 13.3% | 14.1% | 16.8% | 11.2% | 14.2% | 13.9% | 11.7% | 9.3% | 10.3% | 7.4% |
| ROA | 5.0% | 5.0% | 5.0% | 5.8% | 4.0% | 5.1% | 5.0% | 5.4% | 4.4% | 4.8% | 4.2% |
| ROIC | 8.0% | 8.0% | 7.9% | 9.5% | 6.9% | 8.5% | 8.5% | 8.1% | 7.0% | 8.9% | 7.3% |
| ROCE | 8.5% | 8.5% | 8.6% | 10.6% | 7.5% | 8.2% | 8.2% | 8.8% | 7.7% | 10.0% | 9.1% |
AWR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
American States Water Company carries a Debt/EBITDA ratio of 3.7x, which is moderately leveraged (25% below the sector average of 5.0x). Net debt stands at $924M ($943M total debt minus $19M cash). Interest coverage of 4.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.90 | 0.90 | 1.02 | 1.18 | 1.04 | 0.92 | 0.91 | 0.83 | 0.50 | 0.72 | 0.50 |
| Debt / EBITDA | 3.74 | 3.74 | 4.10 | 3.82 | 4.36 | 3.48 | 3.50 | 3.07 | 2.94 | 2.29 | 2.67 |
| Net Debt / Equity | — | 0.88 | 0.99 | 1.16 | 1.03 | 0.91 | 0.86 | 0.83 | 0.49 | 0.72 | 0.50 |
| Net Debt / EBITDA | 3.66 | 3.66 | 3.99 | 3.77 | 4.33 | 3.45 | 3.28 | 3.06 | 2.89 | 2.29 | 2.67 |
| Debt / FCF | — | — | — | — | — | — | — | — | 40.12 | 12.10 | — |
| Interest Coverage | 4.35 | 4.35 | 3.97 | 4.89 | 4.78 | 6.46 | 6.09 | 5.43 | 4.44 | 5.32 | 5.24 |
AWR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.32x means American States Water Company can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.24x to 1.32x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.32 | 1.32 | 0.82 | 1.24 | 0.38 | 0.89 | 1.33 | 1.06 | 0.90 | 0.99 | 0.94 |
| Quick Ratio | 1.23 | 1.23 | 0.76 | 1.13 | 0.34 | 0.81 | 1.25 | 1.00 | 0.86 | 0.96 | 0.91 |
| Cash Ratio | 0.11 | 0.11 | 0.09 | 0.08 | 0.02 | 0.03 | 0.31 | 0.01 | 0.05 | 0.00 | 0.00 |
| Asset Turnover | — | 0.24 | 0.24 | 0.27 | 0.24 | 0.26 | 0.27 | 0.29 | 0.29 | 0.31 | 0.30 |
| Inventory Turnover | 19.75 | 19.75 | 9.47 | 8.32 | 8.43 | 9.95 | 13.85 | 18.69 | 18.86 | 21.57 | 23.93 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
AWR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
American States Water Company returns 2.5% to shareholders annually primarily through dividends. A payout ratio of 57.2% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 2.7% | 2.3% | 2.1% | 1.6% | 1.4% | 1.6% | 1.3% | 1.6% | 1.7% | 2.0% |
| Payout Ratio | 57.2% | 57.2% | 56.2% | 49.0% | 71.9% | 54.8% | 54.6% | 50.6% | 61.0% | 52.5% | 55.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.4% | 4.6% | 4.1% | 4.2% | 2.3% | 2.5% | 2.9% | 2.6% | 2.6% | 3.2% | 3.6% |
| FCF Yield | — | — | — | — | — | — | — | — | 0.4% | 1.5% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.5% | 2.7% | 2.3% | 2.1% | 1.6% | 1.4% | 1.6% | 1.3% | 1.6% | 1.7% | 2.0% |
| Shares Outstanding | — | $39M | $38M | $37M | $37M | $37M | $37M | $37M | $37M | $37M | $37M |
Peer Comparison
Compare AWR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AWRYou | $3B | 22.5 | 15.5 | — | 50.8% | 30.9% | 13.3% | 8.0% | 3.7 |
 WTRG | $11B | 17.1 | 14.1 | — | 41.0% | 37.2% | 9.4% | 4.8% | 6.2 |
 CWT | $3B | 20.0 | 12.7 | — | 36.7% | 18.2% | 7.7% | 4.4% | 5.0 |
 MSEX | $950M | 21.7 | 15.7 | — | 39.2% | 27.9% | 9.1% | 4.7% | 4.8 |
 YORW | $463M | 20.9 | 16.6 | — | 54.8% | 35.8% | 8.5% | 4.6% | 5.5 |
 ARTNA | $328M | 14.4 | 10.3 | — | 37.2% | 31.5% | 9.3% | 6.3% | 3.7 |
 AWK | $25B | 22.0 | 14.5 | — | 43.3% | 36.6% | 10.5% | 5.5% | 5.7 |
 GWRS | $202M | 63.7 | 9.1 | — | 44.9% | 12.8% | 4.4% | 4.2% | 0.3 |
 XYL | $28B | 30.3 | 15.9 | 31.0 | 38.5% | 13.5% | 8.5% | 7.6% | 1.1 |
 PNR | $13B | 20.2 | 14.8 | 17.3 | 40.5% | 20.5% | 17.6% | 12.1% | 1.7 |
 FELE | $4B | 31.1 | 14.0 | 23.0 | 35.5% | 12.7% | 11.3% | 14.7% | 0.8 |
| Utilities Median | — | 19.7 | 11.5 | 15.4 | 40.7% | 19.8% | 9.4% | 4.9% | 5.0 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonAWR — Frequently Asked Questions
Quick answers to the most common questions about buying AWR stock.
What is American States Water Company's P/E ratio?
American States Water Company's current P/E ratio is 22.5x. The historical average is 25.3x. This places it at the 43th percentile of its historical range.
What is American States Water Company's EV/EBITDA?
American States Water Company's current EV/EBITDA is 15.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.3x.
What is American States Water Company's ROE?
American States Water Company's return on equity (ROE) is 13.3%. The historical average is 10.0%.
Is AWR stock overvalued?
Based on historical data, American States Water Company is trading at a P/E of 22.5x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is American States Water Company's dividend yield?
American States Water Company's current dividend yield is 2.55% with a payout ratio of 57.2%.
What are American States Water Company's profit margins?
American States Water Company has 50.8% gross margin and 30.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does American States Water Company have?
American States Water Company's Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.