AWR · American States Water Co - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $658.07M | $595.46M | $595.70M | $491.53M | $498.85M | $488.24M |
| Cost of Revenue | $60.61M | $54.54M | $57.91M | $53.17M | $56.91M | $62.41M |
| Gross Profit | $597.47M | $540.91M | $537.79M | $438.36M | $441.94M | $425.83M |
| R&D | - | - | - | - | - | - |
| SG&A | $102.81M | $100.94M | $88.27M | $86.19M | $83.55M | $83.61M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $47.78M | $43.65M | $42.40M | $41.31M | $39.60M | $36.85M |
| Operating Income | $203.28M | $184.48M | $196.74M | $126.64M | $140.98M | $130.50M |
| Interest Expense | $46.78M | $50.38M | $42.76M | $27.03M | $22.83M | $22.53M |
| Income Tax | $39.36M | $30.17M | $41.60M | $23.66M | $30.42M | $28.20M |
| Net Income | $130.44M | $119.27M | $124.92M | $78.40M | $94.35M | $86.42M |
| EPS - Basic | $3.37 | $3.17 | $3.37 | $2.12 | $2.55 | $2.34 |
| EPS - Diluted | $3.37 | $3.17 | $3.36 | $2.11 | $2.55 | $2.33 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $18.82M | $26.66M | $14.07M | $6.00M | $4.96M | $36.74M |
| Accounts Receivable | $38.32M | $37.70M | $34.25M | $26.21M | $34.42M | $29.16M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $86.02M | $88.59M | $68.70M | $84.85M | $65.90M | $63.79M |
| Current Assets | $231.07M | $233.35M | $205.98M | $151.29M | $138.05M | $157.12M |
| Total Assets | $2.72B | $2.50B | $2.25B | $2.03B | $1.90B | $1.79B |
| Current Liabilities | $174.61M | $285.52M | $166.62M | $396.52M | $155.57M | $118.57M |
| Long-term Debt | $782.70M | $640.38M | $575.55M | $446.55M | $412.18M | $440.35M |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $1.05B | $920.05M | $776.11M | $709.55M | $685.95M | $641.67M |
| Retained Earnings | $620.43M | $564.91M | $512.93M | $449.39M | $427.50M | $385.01M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $229.73M | $198.73M | $67.68M | $117.80M | $115.58M | $122.17M |
| Investing Cash Flow | ($237.54M) | ($232.78M) | ($188.76M) | ($167.10M) | ($145.09M) | ($131.61M) |
| Financing Cash Flow | ($26.0K) | $46.64M | $129.16M | $50.34M | ($2.27M) | $44.84M |
| CapEx | $236.82M | $231.96M | $188.54M | $166.24M | $144.51M | $130.42M |
| Free Cash Flow | ($7.09M) | ($33.23M) | ($120.86M) | ($48.44M) | ($28.93M) | ($8.25M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 90.8% | 90.8% | 90.3% | 89.2% | 88.6% | 87.2% |
| Operating margin | 30.9% | 31.0% | 33.0% | 25.8% | 28.3% | 26.7% |
| EBITDA margin | 38.2% | 38.3% | 40.1% | 34.2% | 36.2% | 34.3% |
| Net margin | 19.8% | 20.0% | 21.0% | 15.9% | 18.9% | 17.7% |
| Free cash flow margin | -1.1% | -5.6% | -20.3% | -9.9% | -5.8% | -1.7% |
| FCF / Net income | -0.05 | -0.28 | -0.97 | -0.62 | -0.31 | -0.10 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 15.6% | 17.0% | 14.8% | 17.5% | 16.7% | 17.1% |
| Effective tax rate | 23.2% | 20.2% | 25.0% | 23.2% | 24.4% | 24.6% |
| Return on assets | 4.8% | 4.8% | 5.6% | 3.9% | 5.0% | 4.8% |
| Return on equity | 12.5% | 13.0% | 16.1% | 11.0% | 13.8% | 13.5% |
| Return on invested capital | 8.5% | 9.4% | 10.9% | 8.4% | 9.7% | 9.1% |
| Liquidity | ||||||
| Current ratio | 1.32 | 0.82 | 1.24 | 0.38 | 0.89 | 1.33 |
| Quick ratio | 1.32 | 0.82 | 1.24 | 0.38 | 0.89 | 1.33 |
| Cash ratio | 0.11 | 0.09 | 0.08 | 0.02 | 0.03 | 0.31 |
| Leverage | ||||||
| Debt / Equity | 0.75 | 0.70 | 0.74 | 0.63 | 0.60 | 0.69 |
| Debt / Assets | 0.29 | 0.26 | 0.26 | 0.22 | 0.22 | 0.25 |
| Debt / EBITDA | 3.12 | 2.81 | 2.41 | 2.66 | 2.28 | 2.63 |
| Interest coverage | 4.3x | 3.7x | 4.6x | 4.7x | 6.2x | 5.8x |
| Equity multiplier | 2.60 | 2.72 | 2.89 | 2.87 | 2.77 | 2.79 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.24 | 0.24 | 0.27 | 0.24 | 0.26 | 0.27 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 21d | 23d | 21d | 19d | 25d | 22d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 518d | 593d | 433d | 582d | 423d | 373d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 21.5x | 24.5x | 23.9x | 43.9x | 40.6x | 34.1x |
| P / B | 2.7x | 3.2x | 3.8x | 4.8x | 5.6x | 4.6x |
| P / S | 4.3x | 4.9x | 5.0x | 7.0x | 7.7x | 6.0x |
| EV / EBITDA | 14.2x | 15.5x | 14.8x | 23.0x | 23.5x | 20.0x |
| Growth | ||||||
| Revenue growth (YoY) | 10.5% | -0.0% | 21.2% | -1.5% | 2.2% | 3.0% |
| Revenue CAGR (3y) | 10.2% | 6.1% | 6.9% | 1.2% | 4.5% | 3.5% |
| Revenue CAGR (5y) | 6.2% | 4.7% | 6.4% | 2.2% | 2.7% | 1.3% |
| Gross profit growth (YoY) | 10.5% | 0.6% | 22.7% | -0.8% | 3.8% | 1.4% |
| Operating income growth (YoY) | 10.2% | -6.2% | 55.4% | -10.2% | 8.0% | 2.7% |
| Net income growth (YoY) | 9.4% | -4.5% | 59.3% | -16.9% | 9.2% | 2.5% |
| EPS growth (YoY) | 6.3% | -5.7% | 59.2% | -17.3% | 9.4% | 2.2% |
| EPS CAGR (3y) | 16.9% | 7.5% | 13.0% | -2.5% | 14.0% | 7.4% |
| EPS CAGR (5y) | 7.7% | 6.8% | 14.3% | 2.3% | 9.5% | 7.8% |
| FCF growth (YoY) | 78.7% | 72.5% | -149.5% | -67.4% | -250.6% | 76.5% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 13.6% | 18.5% | 9.4% | 3.4% | 6.9% | 6.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$658.07M totalWater Service Utility Operations$464.11M · 70.5%
Contracted Services$136.74M · 20.8%
Electric Service Utility Operations$57.22M · 8.7%
Product / service
$601.12M totalTariffbased Revenues$456.16M · 75.9%
Public Utilities Inventory Water$74.31M · 12.4%
Wastewater$62.44M · 10.4%
Surcharges Costrecovery Activities$5.56M · 0.9%
Other Productsand Services$2.67M · 0.4%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Water Supply
Comparing AMERICAN STATES WATER CO against the 5 most active filers in the same SIC group.
Dividends
$2.02/share trailing 12 months · +8.2% YoY
| Ex-date | Per share |
|---|---|
| May 18, 2026 | $0.5040 |
| Feb 23, 2026 | $0.5040 |
| Nov 14, 2025 | $0.5040 |
| Aug 15, 2025 | $0.5040 |
| May 19, 2025 | $0.4660 |
| Feb 18, 2025 | $0.4660 |
| Nov 15, 2024 | $0.4660 |
| Aug 16, 2024 | $0.4660 |
| May 17, 2024 | $0.4300 |
| Feb 16, 2024 | $0.4300 |
| Nov 14, 2023 | $0.4300 |
| Aug 14, 2023 | $0.4300 |
| May 18, 2023 | $0.3980 |
| Feb 17, 2023 | $0.3980 |
| Nov 14, 2022 | $0.3980 |
| Aug 12, 2022 | $0.3980 |
| May 13, 2022 | $0.3650 |
| Feb 14, 2022 | $0.3650 |
| Nov 12, 2021 | $0.3650 |
| Aug 13, 2021 | $0.3650 |
| May 14, 2021 | $0.3350 |
| Feb 12, 2021 | $0.3350 |
| Nov 13, 2020 | $0.3350 |
| Aug 14, 2020 | $0.3350 |