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.

California Wtr Svc Group Financials

CWT

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 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).

Rhea AI CWT FY2025 2026-04-30

Steady operating cash is not enough for the company's asset-building model, so growth is being financed externally.

Across FY2023-FY2025, operating cash flow stayed in a fairly tight band, moving from $218M to $303M. Over the same span, net income swung sharply while annual investing outlays rose from $389M to $520M, which implies the business's core cash generation is steadier than earnings but still too small to self-fund its expansion pace.

FY2025 kept cash roughly flat at $51.8M despite $520M leaving in investing activities. The reason was external funding: financing brought in $219M and long-term debt rose to $1.47B, so liquidity was preserved by borrowing rather than by surplus internal cash.

The profit surge in FY2024 was only partly retained in FY2025, as operating margin moved from 24.9% to 17.7%. Meanwhile the current ratio stayed below 1.0x for a third straight year, so higher earnings did not create much near-term balance-sheet slack and the balance sheet remained committed to long-lived assets.

Financial Health Signals

Financial Health Score 44/100

Scored as: Utilities peer group

Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of California Wtr Svc Group's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Growth

Leverage

Liquidity

Returns

Altman Z-Score Distress

0.90

California Wtr Svc Group scores 0.90, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.1B) relative to total liabilities ($4.0B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/8

California Wtr Svc Group passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.37x

For every $1 of reported earnings, California Wtr Svc Group generates $2.37 in operating cash flow ($302.6M OCF vs $127.8M 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

Earnings & Revenue

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.

Net Income

$127.8M

YoY-33.0%

5Y CAGR+5.7%

10Y CAGR+11.0%

California Wtr Svc Group reported $127.8M in net income in fiscal year 2025. This represents a decrease of 33.0% 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 & Balance Sheet

Free Cash Flow

N/A

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.

Margins & Returns

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

7.5%

YoY-4.1pp

5Y CAGR-3.0pp

10Y CAGR+0.5pp

California Wtr Svc Group's ROE was 7.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.1 percentage points from the prior year.

Capital Allocation

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	$127.8M-33.0%	$190.8M+267.6%	$51.9M-45.9%	$96.0M-5.0%	$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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$197.3M-6.3%	$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
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	$33.7M-11.0%	$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
Operating Income	$18.2M-29.0%	$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
Interest Expense	$19.6M+7.2%	$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
Income Tax	$1.5M+129.9%	-$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
Net Income	$4.0M-63.5%	$11.1M-81.9%	$61.2M+45.2%	$42.2M+216.3%	$13.3M-32.2%	$19.7M-67.6%	$60.7M+49.6%	$40.6M
EPS (Diluted)	$0.07	N/A	$1.03+45.1%	$0.71+222.7%	$0.22	N/A	$1.03+47.1%	$0.70

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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$5.8B+1.9%	$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
Current Assets	$375.2M+5.8%	$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
Cash & Equivalents	$58.1M+12.1%	$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
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$52.6M-6.6%	$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
Goodwill	$37.1M0.0%	$37.1M0.0%	$37.1M0.0%	$37.1M0.0%	$37.1M0.0%	$37.1M+0.1%	$37.0M0.0%	$37.0M
Total Liabilities	$4.1B+3.0%	$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
Current Liabilities	$545.0M+30.3%	$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
Long-Term Debt	$1.5B0.0%	$1.5B+33.4%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B+5.0%	$1.1B0.0%	$1.1B
Total Equity	$1.7B-0.5%	$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
Retained Earnings	$713.3M-2.2%	$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

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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$49.4M+3.1%	$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
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	-$129.5M+15.0%	-$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
Financing Cash Flow	$86.4M+7.9%	$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
Dividends Paid	$20.0M+11.8%	$17.9M0.0%	$17.9M0.0%	$17.9M-11.6%	$20.2M+21.4%	$16.7M+1.1%	$16.5M+1.9%	$16.2M
Share Buybacks	$823K+669.2%	$107K-4.5%	$112K+6.7%	$105K-90.5%	$1.1M+1055.2%	$96K-7.7%	$104K+11.8%	$93K

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	7.5%-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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	9.2%-2.9pp	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%
Net Margin	2.1%-3.2pp	5.3%-14.2pp	19.5%+3.0pp	16.5%+9.2pp	7.3%-1.7pp	9.0%-10.8pp	19.8%+1.9pp	17.9%
Return on Equity	0.2%-0.4pp	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%
Return on Assets	0.1%-0.1pp	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%
Current Ratio	0.69-0.2	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
Debt-to-Equity	0.870.0	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
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 $127.8M in fiscal year 2025, with a net profit margin of 13.3%.

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 7.5% 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 0.90, 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 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 2.37x, 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 44 out of 100 on our Financial Health Score, indicating moderate standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.