California Wtr Svc Group Financials

CWT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows California Wtr Svc Group (CWT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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

Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

California Wtr Svc Group has an operating margin of 17.7%, meaning the company retains $18 of operating profit per $100 of revenue. This strong profitability earns a score of 88/100, reflecting efficient cost management and pricing power. This is down from 24.9% the prior year.

Growth

California Wtr Svc Group's revenue grew 6.4% year-over-year to $963.7M, a solid pace of expansion. This earns a growth score of 47/100.

Leverage

California Wtr Svc Group carries a low D/E ratio of 0.87, meaning only $0.87 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 79/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

California Wtr Svc Group's current ratio of 0.85 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.

Returns

California Wtr Svc Group's ROE of 7.6% shows moderate profitability relative to equity, earning a score of 30/100. This is down from 11.7% the prior year.

Altman Z-Score Distress

0.84

California Wtr Svc Group scores 0.84, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

4/9

California Wtr Svc Group passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.36x

For every $1 of reported earnings, California Wtr Svc Group generates $2.36 in operating cash flow ($302.6M OCF vs $128.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.4x

California Wtr Svc Group earns $2.4 in operating income for every $1 of interest expense ($170.4M vs $70.4M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

Export CSV

Revenue

$963.7M

YoY+6.4%

5Y CAGR+6.7%

California Wtr Svc Group generated $963.7M in revenue in fiscal year 2025. This represents an increase of 6.4% from the prior year.

EBITDA

$316.9M

YoY-11.8%

5Y CAGR+5.9%

10Y CAGR+9.0%

California Wtr Svc Group's EBITDA was $316.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 11.8% from the prior year.

Free Cash Flow

N/A

Net Income

$128.2M

YoY-32.8%

5Y CAGR+5.8%

10Y CAGR+11.0%

California Wtr Svc Group reported $128.2M in net income in fiscal year 2025. This represents a decrease of 32.8% from the prior year.

EPS (Diluted)

$2.15

YoY-33.8%

5Y CAGR+1.8%

10Y CAGR+8.6%

California Wtr Svc Group earned $2.15 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 33.8% from the prior year.

Cash & Debt

$51.8M

YoY+3.4%

5Y CAGR+3.1%

10Y CAGR+19.3%

California Wtr Svc Group held $51.8M in cash against $1.5B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.24

YoY+10.7%

5Y CAGR+7.8%

10Y CAGR+6.3%

California Wtr Svc Group paid $1.24 per share in dividends in fiscal year 2025. This represents an increase of 10.7% from the prior year.

Shares Outstanding

60M

YoY+0.3%

5Y CAGR+3.4%

10Y CAGR+2.2%

California Wtr Svc Group had 60M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.

Gross Margin

N/A

Operating Margin

17.7%

YoY-7.2pp

5Y CAGR-1.9pp

California Wtr Svc Group's operating margin was 17.7% in fiscal year 2025, reflecting core business profitability. This is down 7.2 percentage points from the prior year.

Net Margin

13.3%

YoY-7.8pp

5Y CAGR-0.6pp

California Wtr Svc Group's net profit margin was 13.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.8 percentage points from the prior year.

Return on Equity

7.6%

YoY-4.1pp

5Y CAGR-2.9pp

10Y CAGR+0.6pp

California Wtr Svc Group's ROE was 7.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.1 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$1.4M

YoY-0.1%

5Y CAGR-3.1%

10Y CAGR+15.5%

California Wtr Svc Group spent $1.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 0.1% from the prior year.

Capital Expenditures

N/A

CWT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$963.7M+6.4%	$905.6M+14.6%	$790.3M+2.3%	$772.6M+0.9%	$765.7M+9.8%	$697.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$141.6M+1.5%	$139.5M-1.9%	$142.2M+7.2%	$132.7M+4.8%	$126.7M+8.2%	$117.1M
Operating Income	$170.4M-24.3%	$225.1M+191.8%	$77.1M-39.6%	$127.7M+0.7%	$126.8M-7.2%	$136.7M
Interest Expense	$70.4M+16.0%	$60.7M+14.9%	$52.8M+13.1%	$46.7M+3.8%	$45.0M-0.1%	$45.0M
Income Tax	$19.1M-55.0%	$42.5M+726.6%	-$6.8M-206.4%	$6.4M+55.8%	$4.1M-66.0%	$12.0M
Net Income	$128.2M-32.8%	$190.8M+267.6%	$51.9M-45.9%	$96.0M-5.1%	$101.1M+4.4%	$96.8M
EPS (Diluted)	$2.15-33.8%	$3.25+257.1%	$0.91-48.6%	$1.77-9.7%	$1.96-0.5%	$1.97

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$210.7M-32.9%	$314.1M+22.6%	$256.2M+40.2%	$182.7M-16.1%	$217.8M-28.9%	$306.2M+35.1%	$226.7M+46.3%	$154.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$37.8M+4.4%	$36.2M+8.8%	$33.3M-2.5%	$34.2M-6.2%	$36.4M+2.7%	$35.5M+10.6%	$32.0M-10.0%	$35.6M
Operating Income	$25.6M-63.7%	$70.6M+36.3%	$51.8M+131.9%	$22.3M-30.7%	$32.2M-51.7%	$66.7M+38.6%	$48.2M-38.2%	$77.9M
Interest Expense	$18.3M+1.1%	$18.1M+3.7%	$17.5M+5.8%	$16.5M+5.3%	$15.7M+9.0%	$14.4M-3.1%	$14.8M-6.1%	$15.8M
Income Tax	-$4.9M-138.9%	$12.6M+45.4%	$8.7M+216.5%	$2.7M+253.2%	-$1.8M-110.3%	$17.4M+74.3%	$10.0M-40.7%	$16.9M
Net Income	$11.5M-81.2%	$61.2M+45.2%	$42.2M+216.3%	$13.3M-32.2%	$19.7M-67.6%	$60.7M+49.6%	$40.6M-42.0%	$69.9M
EPS (Diluted)	$0.24-76.7%	$1.03+45.1%	$0.71+222.7%	$0.22-8.3%	$0.24-76.7%	$1.03+47.1%	$0.70-42.1%	$1.21

CWT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.7B+9.5%	$5.2B+12.7%	$4.6B+7.8%	$4.3B+17.7%	$3.6B+6.7%	$3.4B
Current Assets	$354.4M+9.3%	$324.1M+9.4%	$296.3M+0.3%	$295.5M-1.6%	$300.5M+12.9%	$266.0M
Cash & Equivalents	$51.8M+3.4%	$50.1M+26.6%	$39.6M-36.2%	$62.1M-20.8%	$78.4M+75.9%	$44.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$56.3M-3.9%	$58.6M-1.3%	$59.3M+7.8%	$55.1M-9.4%	$60.8M+38.1%	$44.0M
Goodwill	$37.1M0.0%	$37.1M+0.1%	$37.0M+0.6%	$36.8M0.0%	$36.8M+15.6%	$31.8M
Total Liabilities	$4.0B+12.3%	$3.5B+11.9%	$3.2B+7.6%	$2.9B+20.0%	$2.5B-0.9%	$2.5B
Current Liabilities	$418.2M-22.3%	$538.4M+25.1%	$430.3M+46.1%	$294.6M+8.4%	$271.9M-53.8%	$588.7M
Long-Term Debt	$1.5B+33.3%	$1.1B+4.9%	$1.1B0.0%	$1.1B-0.3%	$1.1B+35.2%	$781.1M
Total Equity	$1.7B+3.3%	$1.6B+14.5%	$1.4B+8.2%	$1.3B+12.8%	$1.2B+27.2%	$921.3M
Retained Earnings	$729.3M+8.1%	$674.9M+22.8%	$549.6M-1.3%	$556.7M+8.1%	$514.9M+11.7%	$461.1M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$5.7B+2.7%	$5.5B+2.2%	$5.4B+2.7%	$5.3B+1.5%	$5.2B+3.3%	$5.0B+2.9%	$4.9B+1.9%	$4.8B
Current Assets	$354.4M-11.2%	$399.3M+10.4%	$361.6M+13.3%	$319.2M-1.5%	$324.1M-10.7%	$363.0M+36.0%	$266.8M-5.8%	$283.1M
Cash & Equivalents	$51.8M-31.8%	$76.0M+50.4%	$50.5M+13.7%	$44.5M-11.3%	$50.1M-15.8%	$59.6M+59.8%	$37.3M-12.9%	$42.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$56.3M-29.6%	$80.0M+6.0%	$75.4M+40.0%	$53.9M-8.0%	$58.6M-27.7%	$81.1M+14.0%	$71.1M+38.5%	$51.3M
Goodwill	$37.1M0.0%	$37.1M0.0%	$37.1M0.0%	$37.1M0.0%	$37.1M+0.1%	$37.0M0.0%	$37.0M0.0%	$37.0M
Total Liabilities	$4.0B+4.3%	$3.8B+2.0%	$3.7B+3.2%	$3.6B+2.4%	$3.5B+4.7%	$3.4B+1.8%	$3.3B+0.4%	$3.3B
Current Liabilities	$418.2M-42.7%	$729.9M+6.4%	$686.1M+13.6%	$604.1M+12.2%	$538.4M-5.7%	$570.7M+11.4%	$512.5M+0.9%	$507.9M
Long-Term Debt	$1.5B+33.4%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B+5.0%	$1.1B0.0%	$1.1B0.0%	$1.1B
Total Equity	$1.7B-0.6%	$1.7B+2.8%	$1.7B+1.5%	$1.6B-0.4%	$1.6B+0.4%	$1.6B+5.4%	$1.5B+5.2%	$1.5B
Retained Earnings	$729.3M-0.9%	$735.7M+6.3%	$692.3M+3.6%	$668.0M-1.0%	$674.9M+0.4%	$671.9M+7.0%	$627.7M+4.0%	$603.3M

CWT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$302.6M+4.0%	$290.9M+33.5%	$217.8M-10.6%	$243.8M+5.2%	$231.7M+96.5%	$117.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$520.1M-9.5%	-$474.9M-21.9%	-$389.4M-16.1%	-$335.5M-11.5%	-$300.9M+13.1%	-$346.1M
Financing Cash Flow	$219.3M+12.6%	$194.7M+13.5%	$171.5M+78.5%	$96.1M-8.2%	$104.7M-54.5%	$230.0M
Dividends Paid	$73.9M+12.8%	$65.5M+10.9%	$59.0M+9.0%	$54.2M+14.3%	$47.4M+13.5%	$41.8M
Share Buybacks	$1.4M-0.1%	$1.4M-22.2%	$1.8M-8.4%	$2.0M+13.9%	$1.8M+5.2%	$1.7M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$47.9M-71.4%	$167.3M+241.8%	$48.9M+27.4%	$38.4M-43.6%	$68.1M-33.1%	$101.8M+7.9%	$94.4M+256.1%	$26.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$152.3M-9.9%	-$138.5M-16.0%	-$119.4M-8.7%	-$109.9M+21.5%	-$140.0M-16.2%	-$120.5M-15.3%	-$104.6M+4.8%	-$109.8M
Financing Cash Flow	$80.1M+2536.6%	-$3.3M-104.3%	$76.5M+16.0%	$65.9M+5.6%	$62.4M+51.5%	$41.2M+805.7%	$4.5M-94.7%	$86.6M
Dividends Paid	$17.9M0.0%	$17.9M0.0%	$17.9M-11.6%	$20.2M+21.4%	$16.7M+1.1%	$16.5M+1.9%	$16.2M0.0%	$16.2M
Share Buybacks	$107K-4.5%	$112K+6.7%	$105K-90.5%	$1.1M+1055.2%	$96K-7.7%	$104K+11.8%	$93K-91.9%	$1.1M

CWT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	17.7%-7.2pp	24.9%+15.1pp	9.8%-6.8pp	16.5%-0.0pp	16.6%-3.0pp	19.6%
Net Margin	13.3%-7.8pp	21.1%+14.5pp	6.6%-5.9pp	12.4%-0.8pp	13.2%-0.7pp	13.9%
Return on Equity	7.6%-4.1pp	11.7%+8.0pp	3.6%-3.6pp	7.3%-1.4pp	8.6%-1.9pp	10.5%
Return on Assets	2.3%-1.4pp	3.7%+2.6pp	1.1%-1.1pp	2.3%-0.5pp	2.8%-0.1pp	2.9%
Current Ratio	0.85+0.2	0.60-0.1	0.69-0.3	1.00-0.1	1.10+0.7	0.45
Debt-to-Equity	0.87+0.2	0.67-0.1	0.74-0.1	0.80-0.1	0.90+0.1	0.85
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	12.2%-10.3pp	22.5%+2.3pp	20.2%+8.0pp	12.2%-2.6pp	14.8%-7.0pp	21.8%+0.6pp	21.3%-29.0pp	50.3%
Net Margin	5.5%-14.0pp	19.5%+3.0pp	16.5%+9.2pp	7.3%-1.7pp	9.0%-10.8pp	19.8%+1.9pp	17.9%-27.3pp	45.1%
Return on Equity	0.7%-2.9pp	3.6%+1.1pp	2.5%+1.7pp	0.8%-0.4pp	1.2%-2.5pp	3.7%+1.1pp	2.6%-2.1pp	4.8%
Return on Assets	0.2%-0.9pp	1.1%+0.3pp	0.8%+0.5pp	0.3%-0.1pp	0.4%-0.8pp	1.2%+0.4pp	0.8%-0.6pp	1.5%
Current Ratio	0.85+0.3	0.55+0.0	0.530.0	0.53-0.1	0.60-0.0	0.64+0.1	0.52-0.0	0.56
Debt-to-Equity	0.87+0.2	0.65-0.0	0.67-0.0	0.680.0	0.67+0.0	0.64-0.0	0.68-0.0	0.72
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.85), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is California Wtr Svc Group's annual revenue?

California Wtr Svc Group (CWT) reported $963.7M in total revenue for fiscal year 2025. This represents a 6.4% 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 California Wtr Svc Group's revenue growing?

California Wtr Svc Group (CWT) revenue grew by 6.4% year-over-year, from $905.6M to $963.7M in fiscal year 2025.

Is California Wtr Svc Group profitable?

Yes, California Wtr Svc Group (CWT) reported a net income of $128.2M in fiscal year 2025, with a net profit margin of 13.3%.

What is California Wtr Svc Group's earnings per share (EPS)?

California Wtr Svc Group (CWT) reported diluted earnings per share of $2.15 for fiscal year 2025. This represents a -33.8% 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 California Wtr Svc Group's EBITDA?

California Wtr Svc Group (CWT) had EBITDA of $316.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does California Wtr Svc Group have?

As of fiscal year 2025, California Wtr Svc Group (CWT) had $51.8M in cash and equivalents against $1.5B in long-term debt.

What is California Wtr Svc Group's operating margin?

California Wtr Svc Group (CWT) had an operating margin of 17.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is California Wtr Svc Group's net profit margin?

California Wtr Svc Group (CWT) had a net profit margin of 13.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does California Wtr Svc Group pay dividends?

Yes, California Wtr Svc Group (CWT) paid $1.24 per share in dividends during fiscal year 2025.

What is California Wtr Svc Group's return on equity (ROE)?

California Wtr Svc Group (CWT) has a return on equity of 7.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is California Wtr Svc Group's operating cash flow?

California Wtr Svc Group (CWT) generated $302.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are California Wtr Svc Group's total assets?

California Wtr Svc Group (CWT) had $5.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Does California Wtr Svc Group buy back shares?

Yes, California Wtr Svc Group (CWT) spent $1.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does California Wtr Svc Group have outstanding?

California Wtr Svc Group (CWT) had 60M shares outstanding as of fiscal year 2025.

What is California Wtr Svc Group's current ratio?

California Wtr Svc Group (CWT) had a current ratio of 0.85 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is California Wtr Svc Group's debt-to-equity ratio?

California Wtr Svc Group (CWT) had a debt-to-equity ratio of 0.87 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is California Wtr Svc Group's return on assets (ROA)?

California Wtr Svc Group (CWT) had a return on assets of 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is California Wtr Svc Group's Altman Z-Score?

California Wtr Svc Group (CWT) has an Altman Z-Score of 0.84, placing it in the Distress Zone (elevated bankruptcy 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 California Wtr Svc Group's Piotroski F-Score?

California Wtr Svc Group (CWT) has a Piotroski F-Score of 4 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 California Wtr Svc Group's earnings high quality?

California Wtr Svc Group (CWT) has an earnings quality ratio of 2.36x, 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 California Wtr Svc Group cover its interest payments?

California Wtr Svc Group (CWT) has an interest coverage ratio of 2.4x, 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 California Wtr Svc Group?

California Wtr Svc Group (CWT) scores 52 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.