Amer States Wtr Co Financials
This page shows Amer States Wtr Co (AWR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Amer States Wtr Co has an operating margin of 30.9%, meaning the company retains $31 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 31.0% the prior year.
Amer States Wtr Co's revenue grew 10.5% year-over-year to $658.1M, a solid pace of expansion. This earns a growth score of 59/100.
Amer States Wtr Co carries a low D/E ratio of 0.75, meaning only $0.75 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 83/100, indicating a strong balance sheet with room for future borrowing.
Amer States Wtr Co's current ratio of 1.32 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.
While Amer States Wtr Co generated $229.7M in operating cash flow, capex of $236.8M consumed most of it, leaving -$7.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Amer States Wtr Co's ROE of 12.5% shows moderate profitability relative to equity, earning a score of 50/100. This is down from 13.0% the prior year.
Amer States Wtr Co scores 1.88, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($2.9B) relative to total liabilities ($1.7B). This signals moderate financial risk that warrants monitoring.
Amer States Wtr Co passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Amer States Wtr Co generates $1.76 in operating cash flow ($229.7M OCF vs $130.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Amer States Wtr Co earns $4.3 in operating income for every $1 of interest expense ($203.3M vs $46.8M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Amer States Wtr Co generated $658.1M in revenue in fiscal year 2025. This represents an increase of 10.5% from the prior year.
Amer States Wtr Co's EBITDA was $251.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.1% from the prior year.
Amer States Wtr Co generated -$7.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 78.7% from the prior year.
Amer States Wtr Co reported $130.4M in net income in fiscal year 2025. This represents an increase of 9.4% from the prior year.
Amer States Wtr Co earned $3.37 per diluted share (EPS) in fiscal year 2025. This represents an increase of 6.3% from the prior year.
Amer States Wtr Co held $18.8M in cash against $782.7M in long-term debt as of fiscal year 2025.
Amer States Wtr Co paid $1.94 per share in dividends in fiscal year 2025. This represents an increase of 8.3% from the prior year.
Amer States Wtr Co had 39M shares outstanding in fiscal year 2025. This represents an increase of 2.4% from the prior year.
Amer States Wtr Co's gross margin was 90.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.0 percentage points from the prior year.
Amer States Wtr Co's operating margin was 30.9% in fiscal year 2025, reflecting core business profitability. This is down 0.1 percentage points from the prior year.
Amer States Wtr Co's net profit margin was 19.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.
Amer States Wtr Co's ROE was 12.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.5 percentage points from the prior year.
Amer States Wtr Co invested $236.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 2.1% from the prior year.
AWR Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $164.3M-10.1% | $182.7M+12.1% | $163.1M+10.2% | $148.0M+3.4% | $143.1M-11.5% | $161.8M+4.2% | $155.3M+14.8% | $135.3M |
| Cost of Revenue | $18.3M+10.7% | $16.5M+28.1% | $12.9M-0.3% | $12.9M+18.7% | $10.9M-7.3% | $11.8M-27.5% | $16.2M+3.2% | $15.7M |
| Gross Profit | $146.0M-12.2% | $166.2M+10.7% | $150.2M+11.2% | $135.1M+2.2% | $132.2M-11.9% | $150.0M+7.8% | $139.1M+16.4% | $119.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $25.3M-0.4% | $25.4M+0.8% | $25.2M-6.2% | $26.9M-3.7% | $27.9M+15.3% | $24.2M+3.0% | $23.5M-7.3% | $25.3M |
| Operating Income | $45.0M-27.0% | $61.7M+21.1% | $51.0M+11.9% | $45.5M+17.7% | $38.7M-29.7% | $55.1M+6.4% | $51.7M+32.8% | $39.0M |
| Interest Expense | $10.9M-7.1% | $11.7M-3.3% | $12.1M+0.2% | $12.1M+8.2% | $11.2M-15.6% | $13.2M+0.7% | $13.1M+2.2% | $12.9M |
| Income Tax | $7.7M-40.2% | $12.9M+26.3% | $10.2M+21.0% | $8.5M+258.3% | $2.4M-76.5% | $10.1M-2.9% | $10.4M+40.1% | $7.4M |
| Net Income | $28.7M-30.2% | $41.2M+22.2% | $33.7M+25.5% | $26.8M-5.6% | $28.4M-20.6% | $35.8M+12.5% | $31.9M+37.7% | $23.1M |
| EPS (Diluted) | N/A | $1.06+21.8% | $0.87+24.3% | $0.70+55.6% | $0.45-52.6% | $0.95+11.8% | $0.85+37.1% | $0.62 |
AWR Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.7B+2.3% | $2.7B+1.7% | $2.6B+2.6% | $2.5B+1.8% | $2.5B+3.3% | $2.4B+3.1% | $2.3B+2.4% | $2.3B |
| Current Assets | $231.1M-7.9% | $250.8M-0.6% | $252.3M+5.9% | $238.2M+2.1% | $233.3M+4.9% | $222.4M+6.1% | $209.5M+2.2% | $205.1M |
| Cash & Equivalents | $18.8M-27.8% | $26.1M+28.8% | $20.2M-4.6% | $21.2M-20.4% | $26.7M+61.9% | $16.5M+359.6% | $3.6M-78.9% | $17.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $38.3M-17.7% | $46.6M+10.4% | $42.2M+24.0% | $34.0M-9.8% | $37.7M-15.1% | $44.4M+13.7% | $39.1M+35.2% | $28.9M |
| Goodwill | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M |
| Total Liabilities | $1.7B+1.4% | $1.6B+0.5% | $1.6B+3.1% | $1.6B+0.6% | $1.6B+2.5% | $1.5B+1.7% | $1.5B+1.5% | $1.5B |
| Current Liabilities | $174.6M-11.6% | $197.5M+21.8% | $162.1M-44.9% | $294.3M+3.1% | $285.5M-11.2% | $321.4M+7.5% | $299.1M+67.5% | $178.6M |
| Long-Term Debt | $782.7M-1.0% | $790.3M+0.1% | $789.5M+14.4% | $690.2M+7.8% | $640.4M0.0% | $640.2M0.0% | $640.0M+11.2% | $575.5M |
| Total Equity | $1.0B+3.6% | $1.0B+3.8% | $972.5M+1.7% | $956.4M+4.0% | $920.1M+4.6% | $879.5M+5.5% | $833.5M+4.1% | $800.5M |
| Retained Earnings | $620.4M+1.5% | $611.3M+3.7% | $589.6M+2.7% | $573.9M+1.6% | $564.9M+1.9% | $554.2M+3.4% | $535.9M+3.0% | $520.1M |
AWR Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $27.7M-70.0% | $92.4M+43.1% | $64.6M+43.3% | $45.1M-30.2% | $64.5M+1.3% | $63.7M+157.9% | $24.7M-46.1% | $45.8M |
| Capital Expenditures | $63.7M+16.6% | $54.6M+7.3% | $50.9M-24.6% | $67.6M+15.5% | $58.5M-8.9% | $64.2M+3.9% | $61.7M+29.9% | $47.5M |
| Free Cash Flow | -$36.0M-195.4% | $37.7M+176.2% | $13.7M+160.7% | -$22.5M-473.0% | $6.0M+1362.1% | -$478K+98.7% | -$37.0M-2030.2% | -$1.7M |
| Investing Cash Flow | -$64.8M-19.3% | -$54.4M-6.7% | -$51.0M+24.4% | -$67.4M-12.4% | -$59.9M+6.3% | -$64.0M-4.0% | -$61.5M-29.7% | -$47.4M |
| Financing Cash Flow | $29.9M+192.8% | -$32.2M-120.6% | -$14.6M-186.5% | $16.9M+201.2% | $5.6M-57.4% | $13.1M-43.7% | $23.4M+414.8% | $4.5M |
| Dividends Paid | $19.6M+0.8% | $19.4M+8.3% | $17.9M+0.9% | $17.8M+0.7% | $17.6M+1.0% | $17.5M+8.9% | $16.0M+0.7% | $15.9M |
| Share Buybacks | $10.1M+48.3% | $6.8M+2120.6% | $306K | $0 | $0 | $0 | N/A | N/A |
AWR Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 88.9%-2.1pp | 91.0%-1.1pp | 92.1%+0.8pp | 91.3%-1.1pp | 92.4%-0.3pp | 92.7%+3.2pp | 89.6%+1.2pp | 88.4% |
| Operating Margin | 27.4%-6.4pp | 33.8%+2.5pp | 31.3%+0.5pp | 30.8%+3.7pp | 27.0%-7.0pp | 34.0%+0.7pp | 33.3%+4.5pp | 28.8% |
| Net Margin | 17.5%-5.0pp | 22.5%+1.9pp | 20.7%+2.5pp | 18.1%-1.7pp | 19.9%-2.3pp | 22.1%+1.6pp | 20.5%+3.4pp | 17.1% |
| Return on Equity | 2.8%-1.3pp | 4.1%+0.6pp | 3.5%+0.6pp | 2.8%-0.3pp | 3.1%-1.0pp | 4.1%+0.3pp | 3.8%+0.9pp | 2.9% |
| Return on Assets | 1.1%-0.5pp | 1.6%+0.3pp | 1.3%+0.2pp | 1.1%-0.1pp | 1.1%-0.3pp | 1.5%+0.1pp | 1.4%+0.3pp | 1.0% |
| Current Ratio | 1.32+0.1 | 1.27-0.3 | 1.56+0.7 | 0.810.0 | 0.82+0.1 | 0.690.0 | 0.70-0.4 | 1.15 |
| Debt-to-Equity | 0.75-0.0 | 0.78-0.0 | 0.81+0.1 | 0.72+0.0 | 0.70-0.0 | 0.73-0.0 | 0.77+0.0 | 0.72 |
| FCF Margin | -21.9%-42.5pp | 20.6%+12.3pp | 8.4%+23.6pp | -15.2%-19.4pp | 4.2%+4.5pp | -0.3%+23.5pp | -23.8%-22.6pp | -1.3% |
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Frequently Asked Questions
What is Amer States Wtr Co's annual revenue?
Amer States Wtr Co (AWR) reported $658.1M in total revenue for fiscal year 2025. This represents a 10.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Amer States Wtr Co's revenue growing?
Amer States Wtr Co (AWR) revenue grew by 10.5% year-over-year, from $595.5M to $658.1M in fiscal year 2025.
Is Amer States Wtr Co profitable?
Yes, Amer States Wtr Co (AWR) reported a net income of $130.4M in fiscal year 2025, with a net profit margin of 19.8%.
What is Amer States Wtr Co's earnings per share (EPS)?
Amer States Wtr Co (AWR) reported diluted earnings per share of $3.37 for fiscal year 2025. This represents a 6.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Amer States Wtr Co's EBITDA?
Amer States Wtr Co (AWR) had EBITDA of $251.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Amer States Wtr Co have?
As of fiscal year 2025, Amer States Wtr Co (AWR) had $18.8M in cash and equivalents against $782.7M in long-term debt.
What is Amer States Wtr Co's gross margin?
Amer States Wtr Co (AWR) had a gross margin of 90.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Amer States Wtr Co's operating margin?
Amer States Wtr Co (AWR) had an operating margin of 30.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Amer States Wtr Co's net profit margin?
Amer States Wtr Co (AWR) had a net profit margin of 19.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Amer States Wtr Co pay dividends?
Yes, Amer States Wtr Co (AWR) paid $1.94 per share in dividends during fiscal year 2025.
What is Amer States Wtr Co's return on equity (ROE)?
Amer States Wtr Co (AWR) has a return on equity of 12.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Amer States Wtr Co's free cash flow?
Amer States Wtr Co (AWR) generated -$7.1M in free cash flow during fiscal year 2025. This represents a 78.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Amer States Wtr Co's operating cash flow?
Amer States Wtr Co (AWR) generated $229.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Amer States Wtr Co's total assets?
Amer States Wtr Co (AWR) had $2.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Amer States Wtr Co's capital expenditures?
Amer States Wtr Co (AWR) invested $236.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Amer States Wtr Co have outstanding?
Amer States Wtr Co (AWR) had 39M shares outstanding as of fiscal year 2025.
What is Amer States Wtr Co's current ratio?
Amer States Wtr Co (AWR) had a current ratio of 1.32 as of fiscal year 2025, which is considered adequate.
What is Amer States Wtr Co's debt-to-equity ratio?
Amer States Wtr Co (AWR) had a debt-to-equity ratio of 0.75 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Amer States Wtr Co's return on assets (ROA)?
Amer States Wtr Co (AWR) had a return on assets of 4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Amer States Wtr Co's Altman Z-Score?
Amer States Wtr Co (AWR) has an Altman Z-Score of 1.88, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Amer States Wtr Co's Piotroski F-Score?
Amer States Wtr Co (AWR) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Amer States Wtr Co's earnings high quality?
Amer States Wtr Co (AWR) has an earnings quality ratio of 1.76x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Amer States Wtr Co cover its interest payments?
Amer States Wtr Co (AWR) has an interest coverage ratio of 4.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Amer States Wtr Co?
Amer States Wtr Co (AWR) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.