American States Water
AWR NYSE· Water Utilities
Last close · Oct 23, 2026
$85.44
KIRA · Stoqly’s AI analyst, in plain words
- American States Water had $658M of revenue in fiscal 2025, up 10.5% on the year before. Over five years, revenue changed +6.2% a year on average.
- Its operating margin was 30.9%, down 0.1 pts: of every 100 in sales, about 31 is left after running the business.
- American States Water made $130M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 8.5% a year.
- Free cash flow was −$7.1M in fiscal 2025, −1.1% of revenue.
- American States Water returned $74.7M to shareholders in fiscal 2025. The diluted share count rose 2.9%.
- American States Water owes $772M more than it holds in cash, about 3.1 years of operating profit.
Market cap
$3.4B
P/E
23.4x
Revenue
$658M
Net income
$130M
Free cash flow
−$7.1M
Operating margin
30.9%
American States Water in 30 seconds · fiscal 2025
Are sales growing?
+10.5%
Yes. Sales grew 10.5% last year.
Does it make a profit?
19.8%
Yes. It keeps 19.8% of every sale as profit.
Does profit turn into cash?
−1.1%
No. It spent more cash than it brought in.
Is debt under control?
3.1x
Heavy. Repaying its debt would take 3.1 years of operating profit.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
23.4x
One share costs 23.4 times its yearly profit per share. Typical for its sector: 20.4x.
What American States Water does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 18, 2026
- Legal name
- AMERICAN STATES WATER CO
- CIK
- 0001056903
American States Water · AWR
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $499M | $492M | $596M | $596M | $658M |
| Revenue growth | 2.2% | −1.5% | 21.2% | −0.0% | 10.5% |
| Gross margin | 88.6% | 89.2% | 90.3% | 90.8% | 90.8% |
| Operating margin | 28.3% | 25.8% | 33.0% | 31.0% | 30.9% |
| Net income | $94.3M | $78.4M | $125M | $119M | $130M |
| Net margin | 18.9% | 16.0% | 21.0% | 20.0% | 19.8% |
| Diluted EPS | $2.55 | $2.11 | $3.36 | $3.17 | $3.37 |
| Cash | |||||
| Cash from operations | $116M | $118M | $67.7M | $199M | $230M |
| Capital expenditure | $145M | $166M | $189M | $232M | $237M |
| Free cash flow | −$28.9M | −$48.4M | −$121M | −$33.2M | −$7.1M |
| FCF margin | −5.8% | −9.9% | −20.3% | −5.6% | −1.1% |
| Dividends paid | $51.7M | $56.4M | $61.2M | $67.0M | $74.7M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share count change | 0.0% | 0.1% | 0.1% | 1.4% | 2.9% |
| Debt and strength | |||||
| Cash and short-term investments | $5.0M | $6.0M | $14.1M | $26.7M | $18.8M |
| Debt incl. finance leases | $413M | $447M | $576M | $641M | $791M |
| Shareholders' equity | $686M | $710M | $776M | $920M | $1.0B |
| Net debt / EBITDA | 2.3x | 2.6x | 2.4x | 2.7x | 3.1x |
| Current ratio | 0.9x | 0.4x | 1.2x | 0.8x | 1.3x |
| Interest coverage | 6.2x | 4.7x | 4.6x | 3.7x | 4.4x |
| Returns and quality | |||||
| Return on capital | 10.0% | 8.7% | 11.9% | 10.3% | 9.3% |
| Return on equity | 14.2% | 11.2% | 16.8% | 14.1% | 13.3% |
| Piotroski F-score | 6 | 4 | 6 | 4 | 4 |
| Altman Z'' | 1.8 | 0.9 | 2.0 | 1.7 | 2.0 |
Insiders bought, 12 months
$0.1M
1 insider
Insiders sold, 12 months
$0.3M
3 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
American States Water · AWR
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| American States Water AWR | $3.4B | 10.5% | 30.9% | −1.1% | 9.3% | 23.4x | 4 |
| H2O America HTO | $2.3B | 7.0% | 22.2% | — | 4.9% | 20.2x | 4 |
| California Water Service Gro... CWT | $2.9B | 6.4% | 17.7% | — | 4.8% | 21.6x | 4 |
| Middlesex Water MSEX | $1.0B | 1.5% | 27.9% | — | — | 21.6x | — |
| Essential Utilities WTRG | $12.1B | 18.6% | 37.2% | −17.0% | 6.4% | 21.8x | 5 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $85.44 a share, the company is worth $3.4B: 23.4 times its earnings of the last four quarters.
American States Water grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 4 of 4.
Source: SEC EDGAR XBRL filings (CIK 0001056903). Data updated October 22, 2026. For information only — not investment advice. Check the original filings before relying on any figure.