H2O America
HTO Nasdaq· Water Utilities
Last close · Oct 23, 2026
$58.90
KIRA · Stoqly’s AI analyst, in plain words
- H2O America had $801M of revenue in fiscal 2025, up 7.0% on the year before. Over five years, revenue changed +7.2% a year on average.
- Its operating margin was 22.2%, down 0.6 pts: of every 100 in sales, about 22 is left after running the business.
- H2O America made $103M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 1.4% a year.
- H2O America returned $58.6M to shareholders in fiscal 2025. The diluted share count rose 7.1%.
- H2O America owes $1.9B more than it holds in cash, about 6.3 years of operating profit.
Market cap
$2.3B
P/E
20.2x
Revenue
$801M
Net income
$103M
Free cash flow
—
Operating margin
22.2%
H2O America in 30 seconds · fiscal 2025
Are sales growing?
+7.0%
Yes. Sales grew 7.0% last year.
Does it make a profit?
12.8%
Yes. It keeps 12.8% of every sale as profit.
Is debt under control?
6.3x
Heavy. Repaying its debt would take 6.3 years of operating profit.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
How is the share priced?
20.2x
One share costs 20.2 times its yearly profit per share. Typical for its sector: 20.7x.
What H2O America does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- H2O AMERICA
- CIK
- 0000766829
H2O America · HTO
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $574M | $621M | $670M | $748M | $801M |
| Revenue growth | 1.6% | 8.2% | 8.0% | 11.7% | 7.0% |
| Operating margin | 19.4% | 21.1% | 22.3% | 22.8% | 22.2% |
| Net income | $60.5M | $73.8M | $85.0M | $94.0M | $103M |
| Net margin | 10.5% | 11.9% | 12.7% | 12.6% | 12.8% |
| Diluted EPS | $2.03 | $2.43 | $2.68 | $2.87 | $2.92 |
| Cash | |||||
| Cash from operations | $130M | $166M | $191M | $196M | $245M |
| Dividends paid | $40.1M | $43.6M | $47.9M | $52.1M | $58.6M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share count change | 3.6% | 2.3% | 4.1% | 3.5% | 7.1% |
| Debt and strength | |||||
| Cash and short-term investments | $10.9M | $12.3M | $9.7M | $11.1M | $20.7M |
| Debt incl. finance leases | $1.5B | $1.5B | $1.6B | $1.7B | $1.9B |
| Shareholders' equity | $1.0B | $1.1B | $1.2B | $1.4B | $1.5B |
| Net debt / EBITDA | 7.3x | 6.2x | 6.1x | 6.0x | 6.3x |
| Current ratio | 0.7x | 0.6x | 0.6x | 0.7x | 0.7x |
| Interest coverage | 2.1x | 2.3x | 2.3x | 2.4x | 2.5x |
| Returns and quality | |||||
| Return on capital | 4.1% | 4.6% | 5.2% | 5.3% | 4.9% |
| Return on equity | 6.2% | 6.9% | 7.3% | 7.2% | 7.1% |
| Piotroski F-score | 4 | 6 | 6 | 5 | 4 |
| Altman Z'' | 0.9 | 0.9 | 0.8 | 1.0 | 0.9 |
Insiders bought, 12 months
$3.3M
1 insider
Insiders sold, 12 months
$0.2M
2 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.
H2O America · HTO
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 |
|---|---|---|---|---|---|---|---|
| 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 |
| American States Water AWR | $3.4B | 10.5% | 30.9% | −1.1% | 9.3% | 23.4x | 4 |
| Essential Utilities WTRG | $12.1B | 18.6% | 37.2% | −17.0% | 6.4% | 21.8x | 5 |
| Middlesex Water MSEX | $1.0B | 1.5% | 27.9% | — | — | 21.6x | — |
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 $58.90 a share, the company is worth $2.3B: 20.2 times its earnings of the last four quarters.
H2O America grew sales faster than 2 of its 4 similar companies. Its P/E is higher than 0 of 4.
Source: SEC EDGAR XBRL filings (CIK 0000766829). Data updated October 22, 2026. For information only — not investment advice. Check the original filings before relying on any figure.