California Water Service Group (CWT) Financial Ratios
30 years of historical data (1996–2025) · Utilities · Regulated Water
EV/EBITDA
↓
13.10
↓-20% vs avg
5yr avg: 16.41
30Y Low7.6·High20.6
P/FCF
N/A
—
5yr avg: N/A
30Y Low58.1·High181.6
P/B Ratio
↓
1.59
↓-27% vs avg
5yr avg: 2.17
30Y Low1.5·High3.2
ROE
↓
7.7%
-7% vs avg
5yr avg: 8.2%
30Y Low4%·High14%
Debt/EBITDA
↑
4.96
+2% vs avg
5yr avg: 4.87
30Y Low2.5·High6.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CWT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
California Water Service Group trades at 21.0x earnings, 35% below its 5-year average of 32.4x, sitting at the 37th percentile of its historical range. Compared to the Utilities sector median P/E of 19.0x, the stock trades at a premium of 11%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.7B | $2.6B | $2.7B | $3.0B | $3.3B | $3.7B | $2.7B | $2.5B | $2.3B | $2.2B | $1.6B |
| Enterprise Value | $4.3B | $4.1B | $4.0B | $4.1B | $4.4B | $4.7B | $3.8B | $3.4B | $3.1B | $2.9B | $2.3B |
| P/E Ratio → | 21.02 | 20.15 | 13.95 | 57.00 | 34.26 | 36.66 | 27.43 | 39.36 | 35.04 | 29.84 | 33.56 |
| P/S Ratio | 2.70 | 2.58 | 2.56 | 3.72 | 3.89 | 4.69 | 3.35 | 3.48 | 3.28 | 3.26 | 2.67 |
| P/B Ratio | 1.59 | 1.52 | 1.62 | 2.07 | 2.49 | 3.17 | 2.89 | 3.18 | 3.14 | 3.14 | 2.47 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 8.94 | 8.54 | 9.14 | 13.57 | 13.52 | 16.01 | 22.58 | 14.71 | 12.79 | 14.73 | 10.18 |
P/E links to full P/E history page with 30-year chart
CWT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
California Water Service Group's enterprise value stands at 13.1x EBITDA, 20% below its 5-year average of 16.4x. The Utilities sector median is 11.9x, placing the stock at a 10% 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 | — | 4.15 | 3.86 | 5.18 | 5.14 | 5.98 | 4.77 | 4.81 | 4.47 | 4.33 | 3.70 |
| EV / EBITDA | 13.10 | 12.73 | 11.15 | 20.56 | 17.76 | 19.84 | 15.95 | 18.03 | 15.92 | 16.68 | 15.95 |
| EV / EBIT | 23.51 | 19.42 | 13.80 | 43.61 | 29.81 | 31.90 | 25.14 | 28.18 | 26.10 | 21.79 | 21.68 |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
CWT Profitability
Margins and return-on-capital ratios measuring operating efficiency
California Water Service Group earns an operating margin of 18.2%, roughly in line with the Utilities sector average. Operating margins have expanded from 9.7% to 18.2% over the past 3 years, signaling improving operational efficiency. ROE of 7.7% is modest, trailing the sector median of 9.3%. ROIC of 4.4% represents below-average 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 | 36.7% | 36.7% | 95.4% | 45.7% | 62.7% | 61.2% | 49.3% | 47.7% | 60.3% | 60.4% | 60.1% |
| Operating Margin | 18.2% | 18.2% | 21.7% | 9.7% | 15.1% | 16.0% | 17.2% | 13.9% | 15.8% | 14.2% | 12.5% |
| Net Profit Margin | 12.8% | 12.8% | 18.4% | 6.5% | 11.3% | 12.8% | 12.2% | 8.8% | 9.4% | 10.1% | 8.0% |
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 | 7.7% | 7.7% | 12.4% | 3.8% | 7.7% | 9.7% | 11.4% | 8.4% | 9.2% | 9.9% | 7.5% |
| ROA | 2.4% | 2.4% | 3.9% | 1.2% | 2.5% | 2.9% | 2.9% | 2.1% | 2.4% | 2.6% | 2.1% |
| ROIC | 4.4% | 4.4% | 6.1% | 2.3% | 4.2% | 4.5% | 5.4% | 4.5% | 5.6% | 5.3% | 4.6% |
| ROCE | 3.7% | 3.7% | 5.1% | 1.9% | 3.6% | 4.1% | 4.8% | 3.7% | 4.6% | 4.3% | 3.6% |
CWT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
California Water Service Group carries a Debt/EBITDA ratio of 5.0x, which is highly leveraged (roughly in line with the sector average of 5.2x). Net debt stands at $1.6B ($1.6B total debt minus $52M cash). Interest coverage of 3.2x 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 | 0.95 | 0.95 | 0.85 | 0.87 | 0.86 | 0.94 | 1.27 | 1.28 | 1.21 | 1.16 | 0.99 |
| Debt / EBITDA | 4.96 | 4.96 | 3.89 | 6.23 | 4.66 | 4.61 | 4.93 | 5.23 | 4.48 | 4.66 | 4.63 |
| Net Debt / Equity | — | 0.92 | 0.82 | 0.81 | 0.80 | 0.87 | 1.22 | 1.22 | 1.14 | 1.03 | 0.95 |
| Net Debt / EBITDA | 4.80 | 4.80 | 3.75 | 5.80 | 4.31 | 4.28 | 4.74 | 5.01 | 4.24 | 4.11 | 4.45 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 3.20 | 3.20 | 5.04 | 1.90 | 3.29 | 3.43 | 3.60 | 2.96 | 3.16 | 3.91 | 3.41 |
CWT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.85x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.69x to 0.85x 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 | 0.85 | 0.85 | 0.60 | 0.69 | 1.00 | 1.10 | 0.45 | 0.51 | 0.59 | 0.46 | 0.57 |
| Quick Ratio | 0.85 | 0.85 | 0.56 | 0.65 | 0.96 | 1.07 | 0.44 | 0.49 | 0.57 | 0.45 | 0.54 |
| Cash Ratio | 0.12 | 0.12 | 0.09 | 0.20 | 0.29 | 0.29 | 0.08 | 0.12 | 0.15 | 0.19 | 0.10 |
| Asset Turnover | — | 0.18 | 0.20 | 0.17 | 0.21 | 0.22 | 0.23 | 0.22 | 0.25 | 0.24 | 0.25 |
| Inventory Turnover | — | — | 2.33 | 26.67 | 25.16 | 32.29 | 45.60 | 48.21 | 42.11 | 40.91 | 38.62 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CWT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
California Water Service Group returns 2.8% to shareholders annually — split between a 2.7% dividend yield and 0.1% buyback yield. A payout ratio of 57.6% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.8% (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 | 2.7% | 2.9% | 2.5% | 2.0% | 1.6% | 1.3% | 1.6% | 1.5% | 1.6% | 1.6% | 2.0% |
| Payout Ratio | 57.6% | 57.6% | 34.3% | 113.7% | 56.4% | 46.9% | 43.1% | 60.2% | 55.0% | 51.4% | 68.0% |
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 | 4.8% | 5.0% | 7.2% | 1.8% | 2.9% | 2.7% | 3.6% | 2.5% | 2.9% | 3.4% | 3.0% |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% |
| Total Shareholder Yield | 2.8% | 2.9% | 2.5% | 2.1% | 1.7% | 1.3% | 1.6% | 1.6% | 1.6% | 1.7% | 2.1% |
| Shares Outstanding | — | $60M | $59M | $57M | $54M | $52M | $49M | $48M | $48M | $48M | $48M |
Peer Comparison
Compare CWT 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 |
|---|---|---|---|---|---|---|---|---|---|
 CWTYou | $3B | 21.0 | 13.1 | — | 36.7% | 18.2% | 7.7% | 4.4% | 5.0 |
 AWR | $3B | 22.9 | 15.7 | — | 50.8% | 30.9% | 13.3% | 8.0% | 3.7 |
 MSEX | $967M | 22.1 | 15.9 | — | 39.2% | 27.9% | 9.1% | 4.7% | 4.8 |
 YORW | $426M | 21.2 | 15.7 | — | 54.8% | 35.8% | 8.5% | 4.6% | 5.5 |
 ARTNA | $332M | 14.6 | 10.4 | — | 37.2% | 31.5% | 9.3% | 6.3% | 3.7 |
 GWRS | $204M | 64.5 | 15.0 | — | 44.9% | 12.8% | 4.4% | 2.8% | 6.1 |
 AWK | $24B | 21.9 | 14.5 | — | 43.3% | 36.6% | 10.5% | 5.5% | 5.7 |
 XYL | $26B | 28.4 | 15.0 | 29.1 | 38.5% | 13.5% | 8.5% | 7.6% | 1.1 |
 FELE | $5B | 32.1 | 14.4 | 23.8 | 35.5% | 12.7% | 11.3% | 14.7% | 0.8 |
 NGL | $2B | -4.6 | 8.3 | 13.8 | 23.7% | 12.2% | -52.1% | 8.1% | 5.2 |
 ITRI | $4B | 12.4 | 10.4 | 9.4 | 37.5% | 13.5% | 19.1% | 13.1% | 3.5 |
| Utilities Median | — | 19.0 | 11.9 | 18.6 | 38.4% | 18.5% | 9.3% | 4.9% | 5.2 |
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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CWT — Frequently Asked Questions
Quick answers to the most common questions about buying CWT stock.
What is California Water Service Group's P/E ratio?
California Water Service Group's current P/E ratio is 21.0x. The historical average is 25.6x. This places it at the 37th percentile of its historical range.
What is California Water Service Group's EV/EBITDA?
California Water Service Group's current EV/EBITDA is 13.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.7x.
What is California Water Service Group's ROE?
California Water Service Group's return on equity (ROE) is 7.7%. The historical average is 9.3%.
Is CWT stock overvalued?
Based on historical data, California Water Service Group is trading at a P/E of 21.0x. This is at the 37th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is California Water Service Group's dividend yield?
California Water Service Group's current dividend yield is 2.74% with a payout ratio of 57.6%.
What are California Water Service Group's profit margins?
California Water Service Group has 36.7% gross margin and 18.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does California Water Service Group have?
California Water Service Group's Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.