H2O America Financials
This page shows H2O America (HTO) 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
H2O America has an operating margin of 22.2%, meaning the company retains $22 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 22.8% the prior year.
H2O America's revenue grew 7.0% year-over-year to $800.6M, a solid pace of expansion. This earns a growth score of 48/100.
H2O America carries a low D/E ratio of 1.21, meaning only $1.21 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 66/100, indicating a strong balance sheet with room for future borrowing.
H2O America's current ratio of 0.70 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 8/100, which could limit financial flexibility.
H2O America generates a 6.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 27/100. This is down from 6.9% the prior year.
H2O America scores 0.73, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
H2O America 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.
For every $1 of reported earnings, H2O America generates $2.39 in operating cash flow ($244.8M OCF vs $102.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
H2O America earns $2.4 in operating income for every $1 of interest expense ($177.5M vs $72.6M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
H2O America generated $800.6M in revenue in fiscal year 2025. This represents an increase of 7.0% from the prior year.
H2O America's EBITDA was $298.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.4% from the prior year.
H2O America reported $102.6M in net income in fiscal year 2025. This represents an increase of 9.2% from the prior year.
H2O America earned $2.92 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1.7% from the prior year.
H2O America held $20.7M in cash against $1.9B in long-term debt as of fiscal year 2025.
H2O America paid $1.68 per share in dividends in fiscal year 2025. This represents an increase of 5.0% from the prior year.
H2O America had 36M shares outstanding in fiscal year 2025. This represents an increase of 7.4% from the prior year.
H2O America's operating margin was 22.2% in fiscal year 2025, reflecting core business profitability. This is down 0.6 percentage points from the prior year.
H2O America's net profit margin was 12.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.3 percentage points from the prior year.
H2O America's ROE was 6.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the prior year.
HTO Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $194.2M-19.3% | $240.6M+21.3% | $198.3M+18.3% | $167.6M-15.3% | $197.8M-12.1% | $225.1M+27.8% | $176.2M+17.9% | $149.4M |
| 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 | $38.1M+21.8% | $31.3M+8.7% | $28.8M+3.7% | $27.8M-18.0% | $33.9M+31.7% | $25.7M+25.6% | $20.5M-20.6% | $25.8M |
| Operating Income | $33.1M-48.7% | $64.6M+47.3% | $43.9M+22.2% | $35.9M-17.8% | $43.7M-25.2% | $58.4M+43.8% | $40.6M+45.3% | $27.9M |
| Interest Expense | $18.3M+2.2% | $17.9M-1.2% | $18.1M-0.8% | $18.3M+1.5% | $18.0M+2.7% | $17.5M-4.3% | $18.3M+4.0% | $17.6M |
| Income Tax | -$1.6M-127.2% | $5.8M+24.0% | $4.7M+34.5% | $3.5M+219.3% | $1.1M-43.6% | $1.9M-48.2% | $3.7M+66.9% | $2.2M |
| Net Income | $16.2M-64.1% | $45.1M+82.9% | $24.7M+49.1% | $16.6M-27.8% | $22.9M-40.7% | $38.7M+86.8% | $20.7M+76.9% | $11.7M |
| EPS (Diluted) | $0.28-78.0% | $1.27+78.9% | $0.71+44.9% | $0.49+357.9% | $-0.19-116.2% | $1.17+82.8% | $0.64+77.8% | $0.36 |
HTO Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.1B+2.8% | $5.0B+3.4% | $4.8B+2.5% | $4.7B+1.5% | $4.7B+2.3% | $4.6B+2.5% | $4.4B+1.6% | $4.4B |
| Current Assets | $190.6M-8.0% | $207.2M+3.4% | $200.4M+1.6% | $197.3M+3.4% | $190.7M+1.8% | $187.3M+8.1% | $173.2M-2.8% | $178.1M |
| Cash & Equivalents | $20.7M+82.8% | $11.3M-43.0% | $19.8M-16.2% | $23.7M+113.2% | $11.1M+180.2% | $4.0M-82.6% | $22.8M+402.1% | $4.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $62.5M-27.4% | $86.0M+12.1% | $76.8M+16.6% | $65.9M-4.1% | $68.7M-9.5% | $75.8M+8.0% | $70.2M+12.1% | $62.6M |
| Goodwill | $640.3M0.0% | $640.3M0.0% | $640.3M0.0% | $640.3M0.0% | $640.3M0.0% | $640.3M0.0% | $640.3M0.0% | $640.3M |
| Total Liabilities | $3.6B+3.5% | $3.5B+3.1% | $3.4B+1.5% | $3.3B+1.2% | $3.3B+2.3% | $3.2B+1.7% | $3.2B+1.2% | $3.1B |
| Current Liabilities | $273.4M-10.1% | $304.2M-3.2% | $314.2M+5.9% | $296.7M+13.6% | $261.2M+7.0% | $244.0M-30.3% | $350.1M+8.3% | $323.3M |
| Long-Term Debt | $1.9B+6.3% | $1.8B+3.8% | $1.7B0.0% | $1.7B-0.9% | $1.7B+2.0% | $1.7B+8.0% | $1.5B0.0% | $1.6B |
| Total Equity | $1.5B+1.1% | $1.5B+3.9% | $1.5B+4.9% | $1.4B+2.2% | $1.4B+2.5% | $1.3B+4.6% | $1.3B+2.8% | $1.2B |
| Retained Earnings | $581.1M+0.2% | $579.9M+5.5% | $549.6M+1.9% | $539.6M+0.4% | $537.2M+1.8% | $527.6M+5.1% | $502.0M+1.6% | $494.2M |
HTO Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $63.5M-17.8% | $77.3M+27.0% | $60.8M+40.9% | $43.2M+4.2% | $41.5M-22.6% | $53.5M+8.6% | $49.3M-3.7% | $51.2M |
| 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 | -$150.6M+0.7% | -$151.7M-13.9% | -$133.1M-57.1% | -$84.8M+21.1% | -$107.4M-5.6% | -$101.7M-79.3% | -$56.7M+23.6% | -$74.3M |
| Financing Cash Flow | $96.4M+46.4% | $65.9M-3.7% | $68.4M+26.4% | $54.2M-25.9% | $73.1M+149.3% | $29.3M+14.3% | $25.7M+43.5% | $17.9M |
| Dividends Paid | $15.0M+1.2% | $14.9M+1.8% | $14.6M+3.3% | $14.1M+6.3% | $13.3M+1.5% | $13.1M+1.6% | $12.9M+0.6% | $12.8M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HTO Financial Ratios
| 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 | 17.1%-9.8pp | 26.9%+4.7pp | 22.1%+0.7pp | 21.4%-0.7pp | 22.1%-3.9pp | 25.9%+2.9pp | 23.0%+4.3pp | 18.7% |
| Net Margin | 8.3%-10.4pp | 18.8%+6.3pp | 12.4%+2.6pp | 9.9%-1.7pp | 11.6%-5.6pp | 17.2%+5.4pp | 11.8%+3.9pp | 7.8% |
| Return on Equity | 1.1%-1.9pp | 3.0%+1.3pp | 1.7%+0.5pp | 1.2%-0.5pp | 1.7%-1.2pp | 2.9%+1.3pp | 1.6%+0.7pp | 0.9% |
| Return on Assets | 0.3%-0.6pp | 0.9%+0.4pp | 0.5%+0.2pp | 0.4%-0.1pp | 0.5%-0.4pp | 0.9%+0.4pp | 0.5%+0.2pp | 0.3% |
| Current Ratio | 0.70+0.0 | 0.68+0.0 | 0.64-0.0 | 0.66-0.1 | 0.73-0.0 | 0.77+0.3 | 0.49-0.1 | 0.55 |
| Debt-to-Equity | 1.21+0.1 | 1.150.0 | 1.15-0.1 | 1.21-0.0 | 1.250.0 | 1.25+0.0 | 1.22-0.0 | 1.25 |
| 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 (0.70), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
What is H2O America's annual revenue?
H2O America (HTO) reported $800.6M in total revenue for fiscal year 2025. This represents a 7.0% 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 H2O America's revenue growing?
H2O America (HTO) revenue grew by 7% year-over-year, from $748.4M to $800.6M in fiscal year 2025.
Is H2O America profitable?
Yes, H2O America (HTO) reported a net income of $102.6M in fiscal year 2025, with a net profit margin of 12.8%.
What is H2O America's earnings per share (EPS)?
H2O America (HTO) reported diluted earnings per share of $2.92 for fiscal year 2025. This represents a 1.7% 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 H2O America's EBITDA?
H2O America (HTO) had EBITDA of $298.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does H2O America have?
As of fiscal year 2025, H2O America (HTO) had $20.7M in cash and equivalents against $1.9B in long-term debt.
What is H2O America's operating margin?
H2O America (HTO) had an operating margin of 22.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is H2O America's net profit margin?
H2O America (HTO) had a net profit margin of 12.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does H2O America pay dividends?
Yes, H2O America (HTO) paid $1.68 per share in dividends during fiscal year 2025.
What is H2O America's return on equity (ROE)?
H2O America (HTO) has a return on equity of 6.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is H2O America's operating cash flow?
H2O America (HTO) generated $244.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are H2O America's total assets?
H2O America (HTO) had $5.1B in total assets as of fiscal year 2025, including both current and long-term assets.
How many shares does H2O America have outstanding?
H2O America (HTO) had 36M shares outstanding as of fiscal year 2025.
What is H2O America's current ratio?
H2O America (HTO) had a current ratio of 0.70 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is H2O America's debt-to-equity ratio?
H2O America (HTO) had a debt-to-equity ratio of 1.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is H2O America's return on assets (ROA)?
H2O America (HTO) had a return on assets of 2.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is H2O America's Altman Z-Score?
H2O America (HTO) has an Altman Z-Score of 0.73, 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 H2O America's Piotroski F-Score?
H2O America (HTO) 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 H2O America's earnings high quality?
H2O America (HTO) has an earnings quality ratio of 2.39x, 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 H2O America cover its interest payments?
H2O America (HTO) 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 H2O America?
H2O America (HTO) scores 50 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.