American States Water (AWR) FY2019 results: revenue $474 million, up 8.5% on the year
American States Water Co. (AWR) reported revenue of $474 million for fiscal 2019, the year ended 31 December 2019, up 8.5% on the year before. Net income was $84 million, up 32.1%, and diluted earnings per share $2.28. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$474 million
+8.5% on the year
FY2012FY2019
Operating margin
26.8%
23.1% a year earlier
FY2012FY2019
Net income
$84 million
+32.1% on the year
FY2012FY2019
Diluted EPS
$2.28
+32.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
474
437
441
+8.5%
Cost of revenue
55.7
53.9
49.8
+3.3%
Gross profit
418
383
391
+9.2%
Gross margin
88.3%
87.7%
88.7%
Operating income
127
101
127
+25.8%
Operating margin
26.8%
23.1%
28.8%
Interest expense
24.6
23.4
22.6
+4.9%
Pre-tax income
n/a
81.9
108
Income tax
24.7
18.0
39.0
+36.9%
Effective tax rate
n/a
22.0%
36.0%
Net income
84.3
63.9
69.4
+32.1%
Net margin
17.8%
14.6%
15.7%
Diluted EPS
$2.28
$1.72
$1.88
+32.6%
$ million except per share. 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.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
117
137
145
-14.6%
Capital expenditure
152
127
113
+20.1%
Free cash flow
-35.1
10.2
31.4
Free cash flow margin
-7.4%
2.3%
7.1%
Cash from investing
-153
-128
-80.0
Cash from financing
30.5
-1.8
-64.7
Depreciation and amortisation
35.4
40.4
39.0
-12.4%
Share-based compensation
2.5
3.9
2.9
-34.6%
Buybacks
n/a
n/a
0.0
Dividends paid
42.7
38.9
36.4
+9.7%
Dividend per share
$1.16
$1.06
$0.99
+9.4%
Diluted shares, weighted
37m
37m
37m
+0.1%
Shares outstanding at period end
37m
37m
37m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
602
558
530
+7.8%
Debt
486
417
380
+16.7%
Operating lease liabilities
11.7
0.0
n/a
Other liabilities
542
526
506
+2.9%
Total liabilities and equity
1,641
1,501
1,417
+9.3%
Fixed assets
1,416
1,296
1,205
+9.2%
Goodwill
1.1
1.1
1.1
0.0%
Intangible assets
5.7
6.4
7.9
-11.6%
Cash and equivalents
1.3
7.1
0.2
-81.3%
Receivables
20.9
23.4
26.1
-10.6%
Other assets
197
167
176
+17.7%
Total assets
1,641
1,501
1,417
+9.3%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.