American Water Works
AWK · Water Utilities
$142.75
0.3%American States Water
AWR · Water Utilities
$85.44
0.5%The short version
- American Water Works is the larger business, with $5.1B of revenue in fiscal 2025 against $658M for American States Water, about 7.8 times as much.
- American States Water grew revenue faster (10.5%, against 9.7%).
- American Water Works kept more of each dollar of sales as operating profit (36.6% operating margin, against 30.9% operating margin).
- American States Water turned more of its sales into free cash flow (−1.1% FCF margin, against −20.8% FCF margin).
- American States Water earned a higher return on the capital invested in it (9.3%, against 5.8%).
- Investors pay more for each dollar of American Water Works’s earnings: a P/E of 24.7x against 23.4x for American States Water.
| Latest fiscal year | AWK · FY25 | AWR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $28.0B | $3.4B |
| Revenue | $5.1B | $658M |
| Free cash flow | −$1.1B | −$7.1M |
| Net income | $1.1B | $130M |
| Growth | ||
| Revenue growth | 9.7% | 10.5% |
| 5-year growth | 6.4% | 6.2% |
| Share count change | 0.0% | 2.9% |
| Profitability | ||
| Gross margin | — | 90.8% |
| Operating margin | 36.6% | 30.9% |
| Net margin | 21.6% | 19.8% |
| FCF margin | −20.8% | −1.1% |
| Return on capital | 5.8% | 9.3% |
| Return on equity | 10.5% | 13.3% |
| Balance sheet | ||
| Net debt | $15.7B | $772M |
| Net debt / EBITDA | 5.7x | 3.1x |
| Dividends and buybacks | $633M | $74.7M |
| Valuation & quality | ||
| P/E | 24.7x | 23.4x |
| Piotroski F-score | 6 | 4 |
FY16
AWK $3.3B
AWR $436M
FY17
AWK $3.4B
AWR $441M
FY18
AWK $3.4B
AWR $437M
FY19
AWK $3.6B
AWR $474M
FY20
AWK $3.8B
AWR $488M
FY21
AWK $3.9B
AWR $499M
FY22
AWK $3.8B
AWR $492M
FY23
AWK $4.2B
AWR $596M
FY24
AWK $4.7B
AWR $596M
FY25
AWK $5.1B
AWR $658M
AWK
AWR
FY16
AWK 32.9%
AWR 26.2%
FY17
AWK 37.3%
AWR 28.9%
FY18
AWK 32.0%
AWR 23.1%
FY19
AWK 33.6%
AWR 26.8%
FY20
AWK 33.0%
AWR 26.7%
FY21
AWK 30.4%
AWR 28.3%
FY22
AWK 33.6%
AWR 25.8%
FY23
AWK 35.5%
AWR 33.0%
FY24
AWK 36.7%
AWR 31.0%
FY25
AWK 36.6%
AWR 30.9%
AWK
AWR
FY16
AWK −$22.0M
AWR −$32.9M
FY17
AWK $15.0M
AWR $31.4M
FY18
AWK −$200M
AWR $10.2M
FY19
AWK −$271M
AWR −$35.1M
FY20
AWK −$396M
AWR −$8.3M
FY21
AWK −$323M
AWR −$28.9M
FY22
AWK −$1.2B
AWR −$48.4M
FY23
AWK −$701M
AWR −$121M
FY24
AWK −$811M
AWR −$33.2M
FY25
AWK −$1.1B
AWR −$7.1M
AWK
AWR
FY16
AWK 5.5%
AWR 9.0%
FY17
AWK 4.9%
AWR 9.8%
FY18
AWK 5.8%
AWR 9.1%
FY19
AWK 6.1%
AWR 11.2%
FY20
AWK 5.9%
AWR 10.2%
FY21
AWK 5.3%
AWR 10.0%
FY22
AWK 5.4%
AWR 8.7%
FY23
AWK 5.7%
AWR 11.9%
FY24
AWK 5.8%
AWR 10.3%
FY25
AWK 5.8%
AWR 9.3%
AWK
AWR
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.