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Stock research / United States / AWR · Water Supply · NYSE

American States Water Co. (AWR)

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American States Water Co. (AWR) reported revenue of $181 million for Q2 FY2026, the quarter ended 30 June 2026, up 11.2% on the same quarter a year earlier. Net income was $43 million, up 28.4% on the year, and diluted earnings per share $1.09. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$181 millionup 11.2%
Net income$43 millionup 28.4%
Diluted EPS$1.09
QuarterQ2 FY2026ended 30 June 2026

American States Water (AWR) in brief

American States Water (AWR) reported revenue of $658 million for fiscal 2025, the year ended 31 December 2025, up 10.5% on the year before.
Read moreNet income was $130 million and diluted earnings per share $3.37. Revenue was $595 million in fiscal 2024, $596 million in fiscal 2023, $492 million in fiscal 2022 and $499 million in fiscal 2021. Net income in the same years was $119 million, $125 million, $78 million and $94 million. Over the twelve months to 30 June 2026, American States Water reported revenue of $697 million and net income of $143 million. Revenue grew 6.2% a year, compounded, over the five years to fiscal 2025. American States Water declared $1.94 a share in dividends over the last four quarters and had 40 million shares outstanding at the latest filed count. At the close of 9 October 2026 the market cap of American States Water was $3.3 billion, 22.5 times its earnings over the last twelve months.

Ratios

From the filings

ROE12.8%
ROCE12.1%
Operating margin31.8%
Net margin20.5%
FCF margin3.0%
Interest cover4.74
Debt to equity0.64
Cash conversion1.65
Share count, 1 year2.9%
Sales CAGR, 3 years10.2%
Profit CAGR, 3 years18.5%
EPS, TTM$3.65

At the close of 9 October 2026

Price$82.28
Market cap$3.3 billion
Stock P/E22.54
Price to book2.91
EV / EBITDA14.55
Dividend yield2.4%
Market cap / sales4.68
52-week high$91.10
52-week low$70.10
Price, 1 year12.4%
Price CAGR, 3 years0.9%
Price CAGR, 5 years-1.4%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as American States Water Co. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
AWRgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on AWR

Filings20 in twelve months: 10 current reports (8-K), about 4 results of operations; 4 officer or director change; 1 shareholder vote; 1 material agreement; 1 other events
Planned insider sales5 Form 144 notices in twelve months, $325,561; latest 4 September 2026
Options tapeput/call 0.72 by open interest at the 9 October 2026 close; the straddle prices a 3.8% move to 16 October 2026
13F holders7 of the followed funds hold it; largest Geode Capital Management; 6 Schedule 13D or 13G filings in twelve months
Insider trading5 sales and 4 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest990,892 shares short, 3.77 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue152125135155162143148163183164169181
Cost of revenuen/an/a15.716.211.810.912.912.916.518.317.316.7
Gross profitn/an/a120139150132135150166146152165
Gross marginn/an/a88%90%93%92%91%92%91%89%90%91%
Operating income51.834.939.051.755.138.745.551.061.745.051.464.0
Operating margin34%28%29%33%34%27%31%31%34%27%30%35%
Interest expense11.710.912.913.113.211.212.112.111.710.912.112.2
Pre-tax income41.128.530.542.245.930.835.343.954.136.539.857.8
Tax rate23%28%24%25%22%8%24%23%24%21%25%25%
Net income31.620.423.131.935.828.426.833.741.228.729.943.3
Net margin21%16%17%21%22%20%18%21%23%17%18%24%
Diluted EPS$0.85$0.55$0.62$0.85$0.95$0.75$0.70$0.87$1.06$0.74$0.76$1.09
Operating cash flow38.811.245.824.763.764.545.164.692.427.771.644.9
Capital expenditure47.552.447.561.764.258.567.650.954.663.749.148.5
Free cash flow-8.7-41.2-1.7-37.0-0.56.0-22.513.737.7-36.022.6-3.6
Dividends paid15.915.915.916.017.517.617.817.919.419.619.719.8
Shares outstanding37m37m37m37m38m38m39m39m39m39m39m40m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue466459436441437474488499492596595658697
Cost of revenuen/an/an/a49.853.955.762.456.953.257.954.560.668.9
Gross profitn/an/an/a391383418426442438538541597629
Gross marginn/an/an/a88.7%87.7%88.3%87.2%88.6%89.2%90.3%90.8%90.8%90.1%
Operating income119118114127101127130141127197184203222
Operating margin25.6%25.8%26.2%28.8%23.1%26.8%26.7%28.3%25.8%33.0%31.0%30.9%31.8%
Interest expense21.621.122.022.623.424.622.522.827.042.850.446.846.9
Pre-tax income99.198.294.510881.9n/an/a125102167149170188
Income tax38.037.734.739.018.024.728.230.423.741.630.239.445.0
Effective tax rate38.4%38.4%36.8%36.0%22.0%n/an/a24.4%23.2%25.0%20.2%23.2%23.9%
Net income61.160.559.769.463.984.386.494.378.4125119130143
Net margin13.1%13.2%13.7%15.7%14.6%17.8%17.7%18.9%15.9%21.0%20.0%19.8%20.5%
Diluted EPS$1.57$1.60$1.62$1.88$1.72$2.28$2.33$2.55$2.11$3.36$3.17$3.37$3.65
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow16395.196.914513711712211611867.7199230237
Capital expenditure72.687.3130113127152130145166189232237216
Free cash flow90.77.8-32.931.410.2-35.1-8.3-28.9-48.4-121-33.2-7.120.7
Free cash flow margin19.5%1.7%-7.5%7.1%2.3%-7.4%-1.7%-5.8%-9.9%-20.3%-5.6%-1.1%3.0%
Cash from investing-74.1-90.1-131-80.0-128-153-132-145-167-189-233-238-216
Cash from financing-51.4-76.630.3-64.7-1.830.544.8-2.350.312946.6-0.0-19.3
Depreciation and amortisation41.142.038.939.040.435.436.939.641.342.443.647.850.0
Share-based compensation2.22.82.52.93.92.52.52.62.63.33.73.63.8
Buybacks17.272.90.00.0n/an/an/an/an/an/an/an/an/a
Dividends paid32.132.733.436.438.942.747.251.756.461.267.074.778.5
Dividend per share$0.83$0.87$0.91$0.99$1.06$1.16$1.28$1.40$1.52$1.66$1.79$1.94n/a
Diluted shares, weighted39m38m37m37m37m37m37m37m37m37m38m39m39m
Shares outstanding at period end38m37m37m37m37m37m37m37m37m37m38m39m40m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity5074664945305586026426867107769201,0461,121
Debt326321321321281281440412447576640783718
Operating lease liabilitiesn/an/an/an/a0.011.79.68.98.16.66.44.45.2
Other liabilities546557655566662747700794870888933882931
Total liabilities and equity1,3781,3441,4701,4171,5011,6411,7921,9012,0342,2462,5002,7152,775
Owned
Fixed assets1,0041,0611,1511,2051,2961,4161,5121,6261,7541,8922,1002,2962,367
Goodwill1.11.11.11.11.11.11.11.11.11.1n/an/an/a
Intangible assets11.09.59.67.96.45.75.94.05.15.14.13.1n/a
Cash and equivalents76.04.40.40.27.11.336.75.06.014.126.718.821.7
Receivables18.818.920.026.123.420.929.234.426.234.237.738.341.7
Other assets268249288176167197207230242299332359344
Total assets1,3781,3441,4701,4171,5011,6411,7921,9012,0342,2462,5002,7152,775
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded3.7%6.2%10.2%13.2%
Profit growth, compounded8.0%8.6%18.5%14.7%
Return on equity, average13.0%13.3%13.8%12.5%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was American States Water's revenue in fiscal 2025?

American States Water (AWR) reported revenue of $658 million for fiscal 2025, the year ended 31 December 2025, up 10.5% on the year before.

How much did American States Water earn in fiscal 2025?

Net income was $130 million for fiscal 2025, and diluted earnings per share $3.37.

What is American States Water's P/E ratio?

At the close of 9 October 2026, American States Water traded at 22.5 times its earnings over the twelve months to 30 June 2026.

What is American States Water's market cap?

The market cap of American States Water was $3.3 billion at the close of 9 October 2026.

Does American States Water pay a dividend?

Yes. American States Water declared $1.94 a share in dividends over the four quarters to 30 June 2026.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
American Water Works Company, Inc. AWK$25.6 billion22.349.7%36.9%6.9%1.202.6%
Essential Utilities, Inc. WTRG$11.1 billion19.897.9%35.1%9.9%1.204.8%
Kinetik Holdings Inc. KNTK$4.1 billion19.37n/a10.5%14.1%n/a2.8%
MDU Resources Group Inc. MDU$3.9 billion19.726.7%17.0%-1.1%0.882.9%
Otter Tail Corp. OTTR$3.7 billion18.8510.4%17.2%-0.2%0.602.4%
American States Water Co. AWR$3.3 billion22.5412.8%31.8%13.2%0.642.4%
Chesapeake Utilities Corp. CPK$3.1 billion20.399.0%27.3%14.6%0.902.1%
Avista Corp. AVA$3.0 billion12.818.0%18.8%-1.8%1.165.5%
California Water Service Group CWT$2.8 billion20.697.4%18.5%3.9%0.812.7%
MGE Energy Inc. MGEE$2.7 billion17.2510.4%22.0%7.1%0.612.6%
H2O America HTO$2.4 billion20.665.8%21.5%5.0%1.022.9%
Middlesex Water Co. MSEX$1.0 billion20.639.2%29.2%5.3%0.762.6%
All 69 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
NextEra Energy Inc. NEE$161.4 billion17.3916.3%29.8%10.8%1.732.9%
Constellation Energy Corp. CEG$105.8 billion29.0610.8%14.7%26.0%0.600.1%
Southern Co. SO$97.1 billion20.7611.0%24.2%6.4%1.623.4%
Duke Energy Corp. DUK$91.0 billion17.549.6%27.8%6.3%1.503.6%
Williams Companies, Inc. WMB$88.9 billion28.9523.3%38.2%8.7%2.132.8%
National Grid plc NGG *$79.5 billion17.738.2%30.7%-3.8%1.192.7%
Kinder Morgan, Inc. KMI$72.3 billion20.8211.0%29.0%12.5%0.943.6%
American Electric Power Co. Inc. AEP$66.8 billion21.299.8%23.0%10.3%1.583.0%
TC Energy Corporation TRP *$62.5 billion26.1712.9%52.7%10.7%2.204.0%
Targa Resources Corp. TRGP$61.5 billion27.4062.0%22.9%-2.0%5.351.3%
ONEOK Inc. OKE$56.6 billion15.4815.9%15.5%40.8%1.374.7%
Vistra Corp. VST$54.3 billion27.2440.5%18.5%3.8%3.570.6%
Dominion Energy, Inc. D$54.2 billion21.488.8%21.1%19.0%1.624.3%
Sempra SRE$53.2 billion23.587.0%n/a1.6%0.953.2%
Entergy Corp. ETR$47.1 billion26.369.9%22.9%9.5%1.812.4%
Xcel Energy Inc. XEL$46.1 billion20.219.3%19.1%4.7%1.543.1%
Exelon Corp. EXC$43.1 billion15.269.4%20.8%6.6%1.693.8%
Consolidated Edison Inc. ED$39.1 billion17.458.6%18.0%9.5%1.083.1%
Public Service Enterprise Group Inc. PEG$36.0 billion17.9811.6%23.1%12.7%1.363.5%
WEC Energy Group, Inc. WEC$33.8 billion20.1111.6%22.8%8.9%1.323.4%
Pg&E Corp. PCG$28.9 billion9.519.0%20.0%5.7%1.82n/a
Ameren Corp. AEE$28.3 billion17.9911.4%24.9%3.8%1.392.8%
Atmos Energy Corp. ATO$27.3 billion19.299.2%37.0%6.5%0.642.2%
DTE Energy Co. DTE$26.4 billion20.0410.8%13.3%15.9%2.133.5%
Firstenergy Corp. FE$26.0 billion23.948.4%14.6%12.6%2.104.0%
PPL Corp. PPL$25.8 billion20.268.4%24.1%6.7%1.323.2%
American Water Works Company, Inc. AWK$25.6 billion22.349.7%36.9%6.9%1.202.6%
Centerpoint Energy Inc. CNP$25.4 billion22.719.5%23.2%7.1%1.952.3%
Eversource Energy ES$24.8 billion17.038.9%21.5%7.8%1.634.6%
NRG Energy, Inc. NRG$22.7 billion28.0517.5%6.1%12.8%4.821.6%
Edison International EIX$21.3 billion5.7121.4%32.7%10.7%2.336.1%
CMS Energy Corp. CMS$20.5 billion19.6710.5%18.9%9.9%1.863.3%
Nisource Inc. NI$19.5 billion21.699.5%27.0%12.3%1.632.7%
Evergy, Inc. EVRG$18.7 billion20.609.1%26.2%3.6%1.203.3%
Talen Energy Corp. TLN$18.1 billionn/a-11.4%2.6%60.8%5.92n/a
Alliant Energy Corp. LNT$17.1 billion20.8410.9%22.1%6.8%1.413.1%
DT Midstream, Inc. DTM$12.7 billion27.219.8%49.6%18.1%0.702.7%
Pinnacle West Capital Corp. PNW$12.0 billion18.959.1%20.5%5.7%1.393.6%
Essential Utilities, Inc. WTRG$11.1 billion19.897.9%35.1%9.9%1.204.8%
Antero Midstream Corp. AM$10.0 billion25.1020.5%52.8%6.9%1.83n/a
OGE Energy Corp. OGE$9.6 billion20.409.4%24.2%0.6%1.123.6%
UGI Corp. UGI$8.0 billion12.4112.9%16.2%-0.5%1.284.0%
National Fuel GAS Co. NFG$7.5 billion10.9317.2%40.3%15.1%0.912.7%
Idacorp Inc. IDA$7.4 billion22.429.0%22.8%-0.4%0.972.6%
Txnm Energy Inc. TXNM$6.5 billion32.675.5%22.2%10.0%1.462.8%
Clearway Energy, Inc. CWEN$6.2 billion39.221.7%13.4%9.9%1.551.0%
Southwest Gas Holdings, Inc. SWX$6.1 billionn/an/an/an/a0.832.9%
Black Hills Corp. BKH$5.8 billion19.217.6%23.9%2.5%1.013.6%
Ormat Technologies, Inc. ORA$5.5 billion43.754.9%16.6%31.1%0.600.5%
Kodiak Gas Services, Inc. KGS$5.4 billion63.583.7%27.4%8.2%1.263.6%
Archrock, Inc. AROC$5.3 billion16.2921.2%n/a11.5%1.512.8%
Portland General Electric Co. POR$5.3 billion19.986.2%14.1%1.3%1.204.6%
NEW Jersey Resources Corp. NJR$5.2 billion14.1413.9%24.8%6.4%1.213.6%
Spire Inc. SR$4.6 billion8.7415.3%19.7%4.1%1.614.0%
NorthWestern Energy Group, Inc. NWE$4.6 billion26.775.9%18.8%10.7%1.193.6%
One Gas, Inc. OGS$4.6 billion15.638.1%20.6%-0.8%0.743.7%
Kinetik Holdings Inc. KNTK$4.1 billion19.37n/a10.5%14.1%n/a2.8%
MDU Resources Group Inc. MDU$3.9 billion19.726.7%17.0%-1.1%0.882.9%
Otter Tail Corp. OTTR$3.7 billion18.8510.4%17.2%-0.2%0.602.4%
American States Water Co. AWR$3.3 billion22.5412.8%31.8%13.2%0.642.4%
Chesapeake Utilities Corp. CPK$3.1 billion20.399.0%27.3%14.6%0.902.1%
Avista Corp. AVA$3.0 billion12.818.0%18.8%-1.8%1.165.5%
California Water Service Group CWT$2.8 billion20.697.4%18.5%3.9%0.812.7%
MGE Energy Inc. MGEE$2.7 billion17.2510.4%22.0%7.1%0.612.6%
H2O America HTO$2.4 billion20.665.8%21.5%5.0%1.022.9%
Northwest Natural Holding Co. NWN$2.0 billion15.908.1%22.8%4.4%1.604.1%
Hawaiian Electric Industries Inc. HE$1.5 billion6.7412.9%11.5%5.1%1.2912.3%
Middlesex Water Co. MSEX$1.0 billion20.639.2%29.2%5.3%0.762.6%
Unitil Corp. UTL$953 million16.658.8%18.9%20.8%1.123.4%
5 companies share its SEC industry code (Water Supply); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20265 August 2026EDGAR
10-Q31 March 20266 May 2026EDGAR
10-K31 December 202518 February 2026EDGAR
10-Q30 September 20255 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 20257 May 2025EDGAR
10-K31 December 202419 February 2025EDGAR
10-Q30 September 20246 November 2024EDGAR
10-Q30 June 20246 August 2024EDGAR
10-Q31 March 20247 May 2024EDGAR

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