Last 48 quarters of trend data · Utilities · Regulated Water
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
H2O America's quarterly P/E stands at 29.9x, up 7.3% year-over-year.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 19.71 | 29.93 | 27.22 | 9.59 | 18.30 | 27.90 | 18.10 | 12.42 | 21.18 | 39.30 | 27.69 | 13.30 | 30.22 |
| — | +7.3% | +50.4% | -22.8% | -13.6% | -29.0% | -34.7% | -6.6% | -29.9% | -23.6% | +48.7% | -24.3% | -26.4% | |
| P/S Ratio | 2.52 | 3.08 | 2.27 | 1.80 | 2.28 | 2.76 | 2.09 | 2.13 | 2.50 | 3.04 | 3.06 | 2.34 | 3.53 |
| — | +11.6% | +8.9% | -15.3% | -8.5% | -9.2% | -31.8% | -9.1% | -29.2% | -29.3% | -15.7% | -5.8% | +11.1% | |
| P/B Ratio | 1.34 | 1.23 | 1.14 | 1.14 | 1.24 | 1.33 | 1.21 | 1.44 | 1.38 | 1.47 | 1.70 | 1.57 | 1.87 |
| — | -7.0% | -5.1% | -20.7% | -10.5% | -9.6% | -29.0% | -8.7% | -26.3% | -28.5% | -24.1% | -5.7% | +1.8% | |
| P/FCF | — | 12.94 | — | 1.47 | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 13.40 | 14.28 | 14.83 | 9.71 | 12.40 | 14.08 | 11.89 | 10.68 | 12.64 | 15.77 | 14.95 | 10.77 | 16.59 |
| — | +1.4% | +24.7% | -9.1% | -1.9% | -10.7% | -20.5% | -0.9% | -23.8% | -17.5% | +11.5% | -19.2% | -1.6% | |
| EV / EBIT | 21.94 | 26.60 | 28.40 | 13.17 | 19.30 | 24.10 | 20.64 | 15.87 | 20.56 | 28.44 | 25.21 | 15.66 | 28.91 |
| — | +10.4% | +37.6% | -17.0% | -6.2% | -15.3% | -18.1% | +1.3% | -28.9% | -18.8% | +32.5% | -27.2% | -7.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
H2O America's operating margin was 20.4% in Q1 2026, up 3.1 pp QoQ and down 1.0 pp YoY. The trailing four-quarter average of 21.7% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 5.7% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.7% | 63.8% | 47.2% | 55.8% | 55.4% | 60.3% | 58.4% | 53.7% | 55.5% | 60.9% | 58.2% | 56.5% | 56.5% |
| — | +5.7% | -19.2% | +3.9% | -0.2% | -0.8% | +0.3% | -5.0% | -1.8% | -0.8% | -7.7% | +4.3% | +2.2% | |
| Operating Margin | 22.6% | 20.4% | 17.3% | 26.9% | 22.1% | 21.4% | 22.1% | 25.9% | 23.0% | 18.7% | 21.3% | 27.6% | 19.9% |
| — | -4.7% | -21.7% | +3.6% | -3.9% | +14.6% | +3.6% | -6.2% | +16.0% | +1.9% | -27.6% | +29.3% | +12.1% | |
| Net Margin | 12.8% | 10.4% | 8.4% | 18.8% | 12.4% | 9.9% | 11.6% | 17.2% | 11.7% | 7.8% | 11.1% | 17.7% | 11.7% |
| — | +5.0% | -27.9% | +9.2% | +5.9% | +26.1% | +4.8% | -2.9% | +0.8% | -6.7% | -43.4% | +24.3% | +53.6% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.1% | 1.1% | 1.1% | 3.0% | 1.7% | 1.2% | 1.7% | 3.0% | 1.6% | 0.9% | 1.5% | 3.0% | 1.6% |
| — | -5.9% | -37.6% | +1.9% | +4.7% | +26.6% | +9.9% | -1.7% | +5.1% | -7.2% | -50.2% | +25.2% | +42.5% | |
| ROA | 2.1% | 0.4% | 0.4% | 1.1% | 0.5% | 0.4% | 0.5% | 0.9% | 0.5% | 0.3% | 0.5% | 1.0% | 0.5% |
| — | +1.9% | -26.0% | +24.5% | +9.7% | +31.3% | +7.5% | -10.3% | -5.4% | -13.7% | -49.2% | +36.8% | +54.8% | |
| ROIC | 4.1% | 0.8% | 0.7% | 1.4% | 1.0% | 0.8% | 1.0% | 1.4% | 1.0% | 0.7% | 0.9% | 1.5% | 0.8% |
| — | -5.3% | -30.3% | +0.9% | -0.5% | +19.7% | +11.8% | -4.0% | +20.2% | +2.4% | -32.8% | +41.0% | +11.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
H2O America's Debt/EBITDA ratio is 26.9x, down from 31.3x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 203.9% YoY to 2.02x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.28 | 1.02 | 1.28 | 1.25 | 1.28 | 1.33 | 1.34 | 1.33 | 1.39 | 1.43 | 1.42 | 1.40 | 1.39 |
| — | -23.3% | -4.1% | -6.2% | -8.4% | -6.6% | -5.5% | -4.8% | +0.1% | +0.5% | -5.0% | -11.5% | -12.3% | |
| Debt / EBITDA | 6.67 | 26.88 | 31.34 | 20.36 | 25.35 | 28.43 | 25.10 | 20.56 | 25.56 | 31.14 | 27.26 | 20.39 | 28.48 |
| — | -5.5% | +24.9% | -1.0% | -0.8% | -8.7% | -7.9% | +0.8% | -10.3% | -1.0% | +26.7% | -21.7% | -9.2% | |
| Current Ratio | 0.70 | 2.02 | 0.70 | 0.04 | 0.64 | 0.66 | 0.73 | 0.77 | 0.49 | 0.55 | 0.58 | 0.74 | 0.85 |
| — | +203.9% | -4.5% | -95.2% | +29.0% | +20.7% | +26.2% | +3.4% | -41.6% | -39.5% | -2.0% | +49.9% | +69.5% | |
| Quick Ratio | 0.70 | 2.02 | 0.70 | 0.04 | 0.64 | 0.66 | 0.73 | 0.77 | 0.49 | 0.55 | 0.58 | 0.74 | 0.85 |
| — | +203.9% | -4.5% | -95.2% | +29.0% | +20.7% | +26.2% | +3.4% | -41.6% | -39.5% | -2.0% | +49.9% | +69.5% | |
| Interest Coverage | 2.26 | 1.99 | 1.80 | 3.85 | 2.62 | 2.10 | 2.33 | 3.32 | 2.33 | 1.79 | 2.21 | 3.44 | 2.02 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying HTO stock.
H2O America's current P/E is 19.7x. The average P/E over the last 4 quarters is 21.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
H2O America's current operating margin is 22.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking H2O America's business trajectory between earnings reports.