The Alkaline Water Financials
Financial Health Signals
Based on FY2023 annual data. Scores normalized against common benchmarks. How we calculate these scores
The Alkaline Water has an operating margin of -34.5%, meaning the company retains $-35 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -71.2% the prior year.
The Alkaline Water's revenue surged 16.4% year-over-year to $63.8M, reflecting rapid business expansion. This strong growth earns a score of 76/100.
The Alkaline Water's current ratio of 0.68 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 7/100, which could limit financial flexibility.
While The Alkaline Water generated -$10.4M in operating cash flow, capex of $1.4M consumed most of it, leaving -$11.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
The Alkaline Water passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, The Alkaline Water generates $0.38 in operating cash flow (-$10.4M OCF vs -$27.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
The Alkaline Water earns $-7.4 in operating income for every $1 of interest expense (-$22.0M vs $3.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows The Alkaline Water (WTER) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
Key Financial Metrics
The Alkaline Water generated $63.8M in revenue in fiscal year 2023. This represents an increase of 16.4% from the prior year.
The Alkaline Water's EBITDA was -$21.1M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 44.7% from the prior year.
The Alkaline Water generated -$11.9M in free cash flow in fiscal year 2023, representing cash available after capex. This represents an increase of 63.8% from the prior year.
The Alkaline Water reported -$27.4M in net income in fiscal year 2023. This represents an increase of 30.8% from the prior year.
The Alkaline Water earned $-2.99 per diluted share (EPS) in fiscal year 2023. This represents an increase of 50.1% from the prior year.
The Alkaline Water held $1.0M in cash against $0 in long-term debt as of fiscal year 2023.
The Alkaline Water had 148M shares outstanding in fiscal year 2023. This represents an increase of 1907.9% from the prior year.
The Alkaline Water's gross margin was 18.3% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is up 1.1 percentage points from the prior year.
The Alkaline Water's operating margin was -34.5% in fiscal year 2023, reflecting core business profitability. This is up 36.7 percentage points from the prior year.
The Alkaline Water's net profit margin was -43.0% in fiscal year 2023, showing the share of revenue converted to profit. This is up 29.3 percentage points from the prior year.
The Alkaline Water invested $1.4M in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents an increase of 45.6% from the prior year.
WTER Income Statement
| Metric | Q3'23 | Q3'22 | Q2'22 | Q1'22 | Q3'21 | Q2'21 | Q1'21 | Q3'20 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.9M-5.9% | $15.9M-18.9% | $19.6M | N/A | $13.1M-14.1% | $15.3M+8.1% | $14.1M+46.8% | $9.6M |
| Cost of Revenue | $11.2M-6.6% | $11.9M-20.1% | $14.9M | N/A | $10.1M+0.4% | $10.1M+8.4% | $9.3M+48.6% | $6.3M |
| Gross Profit | $3.8M-4.0% | $3.9M-15.1% | $4.6M | N/A | $3.0M-42.5% | $5.2M+7.5% | $4.8M+43.3% | $3.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.6M-38.0% | $2.5M-1.4% | $2.6M | N/A | $6.3M+20.6% | $5.3M+5.8% | $5.0M+42.5% | $3.5M |
| Operating Income | -$2.4M+32.1% | -$3.6M+29.7% | -$5.1M | N/A | -$10.9M-7.0% | -$10.2M-39.5% | -$7.3M-73.3% | -$4.2M |
| Interest Expense | $424K-0.2% | $425K-53.9% | $922K | N/A | $143K-16.0% | $170K+58.4% | $107K-21.5% | $137K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.8M+28.7% | -$4.0M+52.5% | -$8.4M | N/A | -$10.7M-3.4% | -$10.4M-39.8% | -$7.4M-70.3% | -$4.4M |
| EPS (Diluted) | $-0.28 | $-0.03+50.0% | $-0.06 | N/A | $-0.10+9.1% | $-0.11-37.5% | $-0.08 | N/A |
WTER Balance Sheet
| Metric | Q3'23 | Q3'22 | Q2'22 | Q1'22 | Q3'21 | Q2'21 | Q1'21 | Q3'20 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.2M-36.9% | $24.1M-0.7% | $24.3M+7.8% | $22.5M-4.2% | $23.5M-26.2% | $31.8M+43.5% | $22.2M+64.7% | $13.5M |
| Current Assets | $13.4M-39.8% | $22.2M+0.2% | $22.2M+4.9% | $21.2M-5.2% | $22.3M-27.1% | $30.6M+45.6% | $21.0M+71.4% | $12.3M |
| Cash & Equivalents | $415K-81.1% | $2.2M-2.9% | $2.3M+47.4% | $1.5M-53.5% | $3.3M-68.4% | $10.4M+131.6% | $4.5M+162.0% | $1.7M |
| Inventory | $5.5M-36.5% | $8.7M-11.5% | $9.9M+15.0% | $8.6M-2.8% | $8.8M+40.6% | $6.3M+24.6% | $5.0M+22.5% | $4.1M |
| Accounts Receivable | $5.1M-42.3% | $8.8M+17.6% | $7.5M-5.8% | $7.9M+2.0% | $7.8M-29.2% | $11.0M+33.6% | $8.2M+68.1% | $4.9M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $23.3M+1.5% | $22.9M+9.1% | $21.0M-4.9% | $22.1M+42.0% | $15.6M-9.0% | $17.1M+14.3% | $15.0M+28.5% | $11.6M |
| Current Liabilities | $23.3M+1.6% | $22.9M+9.2% | $21.0M-4.4% | $21.9M+42.5% | $15.4M-9.0% | $16.9M+14.7% | $14.7M+31.4% | $11.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$8.1M-802.9% | $1.1M-64.6% | $3.2M+708.8% | $401K-94.9% | $7.9M-46.1% | $14.7M+104.2% | $7.2M+296.1% | $1.8M |
| Retained Earnings | -$140.0M-8.2% | -$129.4M-3.2% | -$125.4M-14.5% | -$109.5M-11.2% | -$98.5M-12.2% | -$87.7M-13.4% | -$77.4M-18.5% | -$65.3M |
WTER Cash Flow Statement
| Metric | Q3'23 | Q3'22 | Q2'22 | Q1'22 | Q3'21 | Q2'21 | Q1'21 | Q3'20 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$409K+12.9% | -$469K+93.3% | -$7.0M-18.3% | -$5.9M+18.5% | -$7.2M+43.1% | -$12.7M-109.3% | -$6.1M-306.2% | -$1.5M |
| Capital Expenditures | $0+100.0% | -$445K-217.8% | $378K-24.1% | $499K+180.3% | $178K-29.9% | $254K+313.3% | $61K-2.1% | $63K |
| Free Cash Flow | -$409K+55.3% | -$915K+87.5% | -$7.3M-15.0% | -$6.4M+13.7% | -$7.4M+42.9% | -$12.9M-111.4% | -$6.1M-293.7% | -$1.6M |
| Investing Cash Flow | $0-100.0% | $445K+217.8% | -$378K+24.1% | -$499K-180.3% | -$178K+29.9% | -$254K-313.3% | -$61K+2.1% | -$63K |
| Financing Cash Flow | -$215K-429.6% | -$41K-100.6% | $6.6M+44.0% | $4.6M+1661.3% | $262K-98.6% | $18.9M+1170.5% | $1.5M+310.0% | -$706K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
WTER Financial Ratios
| Metric | Q3'23 | Q3'22 | Q2'22 | Q1'22 | Q3'21 | Q2'21 | Q1'21 | Q3'20 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.3%+0.5pp | 24.7%+1.1pp | 23.6% | N/A | 22.7%-11.2pp | 33.9%-0.2pp | 34.0%-0.8pp | 34.9% |
| Operating Margin | -16.2%+6.3pp | -22.4%+3.5pp | -25.9% | N/A | -83.4%-16.5pp | -66.9%-15.1pp | -51.8%-7.9pp | -43.9% |
| Net Margin | -19.0%+6.1pp | -25.1%+17.8pp | -42.9% | N/A | -82.0%-13.9pp | -68.0%-15.4pp | -52.6%-7.3pp | -45.3% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -18.7%-2.1pp | -16.6%+18.1pp | -34.6% | N/A | -45.7%-13.1pp | -32.6%+0.9pp | -33.5%-1.1pp | -32.4% |
| Current Ratio | 0.58-0.4 | 0.97-0.1 | 1.06+0.1 | 0.97-0.5 | 1.45-0.4 | 1.81+0.4 | 1.43+0.3 | 1.09 |
| Debt-to-Equity | -2.88-22.8 | 19.96+13.5 | 6.48-48.6 | 55.09+53.1 | 1.96+0.8 | 1.16-0.9 | 2.08-4.3 | 6.40 |
| FCF Margin | -2.7%+3.0pp | -5.8%+31.7pp | -37.5% | N/A | -56.4%+28.4pp | -84.8%-41.4pp | -43.3%-27.2pp | -16.2% |
Note: Shareholder equity is negative (-$5.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.68), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is The Alkaline Water's annual revenue?
The Alkaline Water (WTER) reported $63.8M in total revenue for fiscal year 2023. This represents a 16.4% 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 The Alkaline Water's revenue growing?
The Alkaline Water (WTER) revenue grew by 16.4% year-over-year, from $54.8M to $63.8M in fiscal year 2023.
Is The Alkaline Water profitable?
No, The Alkaline Water (WTER) reported a net income of -$27.4M in fiscal year 2023, with a net profit margin of -43.0%.
What is The Alkaline Water's earnings per share (EPS)?
The Alkaline Water (WTER) reported diluted earnings per share of $-2.99 for fiscal year 2023. 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 The Alkaline Water's EBITDA?
The Alkaline Water (WTER) had EBITDA of -$21.1M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
What is The Alkaline Water's gross margin?
The Alkaline Water (WTER) had a gross margin of 18.3% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.
What is The Alkaline Water's operating margin?
The Alkaline Water (WTER) had an operating margin of -34.5% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is The Alkaline Water's net profit margin?
The Alkaline Water (WTER) had a net profit margin of -43.0% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is The Alkaline Water's free cash flow?
The Alkaline Water (WTER) generated -$11.9M in free cash flow during fiscal year 2023. This represents a 63.8% 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 The Alkaline Water's operating cash flow?
The Alkaline Water (WTER) generated -$10.4M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are The Alkaline Water's total assets?
The Alkaline Water (WTER) had $18.0M in total assets as of fiscal year 2023, including both current and long-term assets.
What are The Alkaline Water's capital expenditures?
The Alkaline Water (WTER) invested $1.4M in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
How many shares does The Alkaline Water have outstanding?
The Alkaline Water (WTER) had 148M shares outstanding as of fiscal year 2023.
What is The Alkaline Water's current ratio?
The Alkaline Water (WTER) had a current ratio of 0.68 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is The Alkaline Water's debt-to-equity ratio?
The Alkaline Water (WTER) had a debt-to-equity ratio of -4.38 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is The Alkaline Water's return on assets (ROA)?
The Alkaline Water (WTER) had a return on assets of -152.0% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is The Alkaline Water's cash runway?
Based on fiscal year 2023 data, The Alkaline Water (WTER) had $1.0M in cash against an annual operating cash burn of $10.4M. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is The Alkaline Water's debt-to-equity ratio negative or unusual?
The Alkaline Water (WTER) has negative shareholder equity of -$5.3M as of fiscal year 2023, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is The Alkaline Water's Piotroski F-Score?
The Alkaline Water (WTER) 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 The Alkaline Water's earnings high quality?
The Alkaline Water (WTER) has an earnings quality ratio of 0.38x, considered low quality (accrual-driven). 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 The Alkaline Water cover its interest payments?
The Alkaline Water (WTER) has an interest coverage ratio of -7.4x, meaning it can struggle to 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 The Alkaline Water?
The Alkaline Water (WTER) scores 21 out of 100 on our Financial Profile, indicating weak 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.