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H2O America (HTO) Financials

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$50.25 +0.03 (+0.06%)
As of 08/8/2025 04:00 PM Eastern
Annual Income Statements for H2O America

Annual Income Statements for H2O America

This table shows H2O America's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
52 38 53 59 39 23 62 60 74 85 94
Consolidated Net Income / (Loss)
52 38 53 61 39 24 62 60 74 85 94
Net Income / (Loss) Continuing Operations
52 38 53 61 39 24 62 60 74 85 94
Total Pre-Tax Income
77 61 86 96 49 32 70 69 82 91 103
Total Operating Income
93 80 97 102 73 57 118 111 131 149 171
Total Gross Profit
309 293 328 376 383 401 535 543 588 636 713
Total Revenue
320 305 340 389 398 420 565 574 621 670 748
Operating Revenue
320 305 340 389 398 420 565 574 621 670 748
Total Cost of Revenue
11 12 12 14 15 19 30 31 33 34 36
Other Cost of Revenue
11 12 12 14 15 19 30 31 33 34 36
Total Operating Expenses
216 213 230 274 309 344 417 432 457 486 542
Selling, General & Admin Expense
41 47 42 49 49 66 80 87 95 99 106
Depreciation Expense
38 41 45 48 55 66 89 94 104 106 113
Other Operating Expenses / (Income)
137 126 144 177 187 196 248 255 264 282 323
Other Special Charges / (Income)
- - - - - 0.00 0.00 -7.49 -6.20 0.00 0.00
Total Other Income / (Expense), net
-16 -19 -11 -5.36 -25 -25 -48 -42 -49 -58 -68
Interest Expense
21 22 22 23 27 35 54 53 53 66 71
Other Income / (Expense), net
4.50 3.21 11 5.07 2.35 3.02 6.48 11 4.39 7.65 3.82
Income Tax Expense
25 23 34 35 10 8.45 8.38 8.37 8.50 5.96 8.97
Basic Earnings per Share
$2.56 $1.86 $2.59 $2.89 $1.83 $0.82 $2.16 $2.04 $2.44 $2.69 $2.87
Weighted Average Basic Shares Outstanding
20.23M 20.36M 20.44M 20.51M 21.21M 28.44M 28.52M 29.60M 30.30M 31.58M 32.70M
Diluted Earnings per Share
$2.54 $1.85 $2.57 $2.86 $1.82 $0.82 $2.14 $2.03 $2.43 $2.68 $2.87
Weighted Average Diluted Shares Outstanding
20.42M 20.52M 20.59M 20.69M 21.33M 28.56M 28.69M 29.74M 30.42M 31.66M 32.78M
Weighted Average Basic & Diluted Shares Outstanding
20.20M 20.40M 20.40M 20.50M 21.20M 28.50M 28.60M 30.23M 30.85M 32.06M 33.67M
Cash Dividends to Common per Share
$0.75 $0.78 $0.81 $1.04 $1.12 $1.20 $1.28 $1.36 $1.44 $1.52 $1.60

Quarterly Income Statements for H2O America

This table shows H2O America's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
33 12 18 36 19 12 21 39 23 17 25
Consolidated Net Income / (Loss)
33 12 18 36 19 12 21 39 23 17 25
Net Income / (Loss) Continuing Operations
33 12 18 36 19 12 21 39 23 17 25
Total Pre-Tax Income
38 13 17 41 21 14 24 41 24 20 29
Total Operating Income
50 25 31 57 36 28 41 58 44 36 44
Total Gross Profit
163 129 149 196 162 141 168 216 189 158 190
Total Revenue
171 137 157 205 171 149 176 225 198 168 198
Operating Revenue
171 137 157 205 171 149 176 225 198 168 198
Total Cost of Revenue
8.33 8.40 7.90 8.80 9.38 8.83 8.42 9.36 9.32 9.20 8.51
Other Cost of Revenue
8.33 8.40 7.90 8.80 9.38 8.83 8.42 9.36 9.32 9.20 8.51
Total Operating Expenses
113 104 118 139 125 113 127 157 145 123 146
Selling, General & Admin Expense
24 24 24 24 27 26 20 26 34 28 29
Depreciation Expense
26 26 26 26 27 28 28 27 29 28 29
Other Operating Expenses / (Income)
63 53 68 89 72 58 78 104 82 66 88
Total Other Income / (Expense), net
-12 -13 -14 -16 -16 -14 -16 -18 -20 -16 -15
Interest Expense
12 16 16 17 17 18 18 17 19 17 17
Other Income / (Expense), net
-0.22 3.27 2.12 0.92 1.35 3.60 2.14 -1.20 -0.72 0.80 1.98
Income Tax Expense
4.84 1.08 -1.51 4.56 1.83 2.23 3.72 1.93 1.09 3.47 4.67
Basic Earnings per Share
$1.11 $0.37 $0.58 $1.14 $0.60 $0.36 $0.64 $1.17 $0.70 $0.49 $0.71
Weighted Average Basic Shares Outstanding
30.30M 30.94M 31.50M 31.86M 31.58M 32.08M 32.40M 32.90M 32.70M 33.78M 34.78M
Diluted Earnings per Share
$1.11 $0.37 $0.58 $1.13 $0.60 $0.36 $0.64 $1.17 $0.70 $0.49 $0.71
Weighted Average Diluted Shares Outstanding
30.42M 31.04M 31.59M 31.93M 31.66M 32.14M 32.46M 32.98M 32.78M 33.87M 34.86M
Weighted Average Basic & Diluted Shares Outstanding
30.85M 31.43M 31.77M 31.93M 32.06M 32.23M 32.71M 33.25M 33.67M 34.18M 35.29M
Cash Dividends to Common per Share
- $0.38 $0.38 $0.38 - $0.40 $0.40 $0.40 - $0.42 $0.42

Annual Cash Flow Statements for H2O America

This table details how cash moves in and out of H2O America's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
0.10 2.84 20 -18 413 -403 -8.68 2.85 0.23 -2.62 1.39
Net Cash From Operating Activities
66 98 115 101 91 130 104 130 166 191 196
Net Cash From Continuing Operating Activities
66 98 115 101 91 130 104 130 166 191 196
Net Income / (Loss) Continuing Operations
52 38 53 61 39 24 62 60 74 85 94
Consolidated Net Income / (Loss)
52 38 53 61 39 24 62 60 74 85 94
Depreciation Expense
39 42 46 51 57 68 92 96 106 108 115
Non-Cash Adjustments To Reconcile Net Income
-43 2.28 11 -14 -4.65 5.35 -1.67 -8.87 -0.45 7.31 -19
Changes in Operating Assets and Liabilities, net
18 16 4.38 3.71 0.31 33 -47 -18 -14 -9.60 5.94
Net Cash From Investing Activities
-98 -111 -122 -114 -147 -1,018 -214 -260 -244 -322 -340
Net Cash From Continuing Investing Activities
-98 -111 -122 -114 -147 -1,018 -214 -260 -244 -322 -340
Purchase of Property, Plant & Equipment
-92 -97 -129 -141 -136 -0.14 -0.44 -0.83 -0.63 -24 -0.03
Acquisitions
- - - - - -835 0.00 -24 -0.43 -7.54 0.00
Other Investing Activities, net
-13 -15 -18 -12 -15 -183 -215 -236 -243 -290 -340
Net Cash From Financing Activities
32 15 28 -4.79 468 485 102 133 78 129 146
Net Cash From Continuing Financing Activities
32 15 28 -4.79 468 485 102 133 78 129 146
Repayment of Debt
-70 -79 -102 -53 -6.78 -195 -244 -285 -152 -140 -344
Payment of Dividends
-15 -16 -17 -21 -23 -34 -37 -40 -44 -48 -52
Issuance of Debt
107 98 132 57 76 695 361 344 214 216 427
Issuance of Common Equity
1.92 - 0.00 0.00 411 -0.01 0.00 91 39 81 85
Other Financing Activities, net
8.03 12 14 13 11 19 21 24 21 20 30
Cash Interest Paid
21 24 24 25 27 32 60 58 123 132 143
Cash Income Taxes Paid
6.32 9.72 28 34 14 16 10 8.47 6.85 23 -0.60

Quarterly Cash Flow Statements for H2O America

This table details how cash moves in and out of H2O America's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents
-0.85 11 2.14 -4.41 -11 -5.18 18 -19 7.15 13 -3.85
Net Cash From Operating Activities
37 51 47 62 32 51 49 54 41 43 61
Net Cash From Continuing Operating Activities
37 51 47 62 32 51 49 54 41 43 61
Net Income / (Loss) Continuing Operations
33 12 18 36 19 12 21 39 23 17 25
Consolidated Net Income / (Loss)
33 12 18 36 19 12 21 39 23 17 25
Depreciation Expense
27 27 27 27 28 29 29 28 29 30 30
Non-Cash Adjustments To Reconcile Net Income
-6.48 -6.95 11 11 -8.09 -6.26 16 6.81 -36 -1.43 16
Changes in Operating Assets and Liabilities, net
-17 19 -9.67 -12 -6.93 17 -16 -20 25 -1.57 -10
Net Cash From Investing Activities
-63 -55 -70 -116 -81 -74 -57 -102 -107 -85 -133
Net Cash From Continuing Investing Activities
-63 -55 -70 -116 -81 -74 -57 -102 -107 -85 -133
Other Investing Activities, net
-63 -55 -70 -85 -80 -74 -97 -102 -67 -85 -133
Net Cash From Financing Activities
25 15 26 50 38 18 26 29 73 54 68
Net Cash From Continuing Financing Activities
25 15 26 50 38 18 26 29 73 54 68
Repayment of Debt
-48 -101 -17 -19 -2.25 -91 -58 -130 -66 -35 -40
Payment of Dividends
-11 -12 -12 -12 -12 -13 -13 -13 -13 -14 -15
Issuance of Debt
46 82 28 63 44 113 64 130 121 67 48
Issuance of Common Equity
36 41 23 12 5.38 7.01 25 31 22 27 57
Other Financing Activities, net
1.55 5.01 4.70 7.04 2.92 1.67 7.04 11 9.92 9.16 18
Cash Interest Paid
80 12 20 55 46 31 22 64 41 32 46
Cash Income Taxes Paid
6.28 0.20 0.46 0.16 22 0.18 0.53 0.59 -1.89 -0.68 -1.69

Annual Balance Sheets for H2O America

This table presents H2O America's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets
1,269 1,337 1,443 1,458 1,956 3,132 3,311 3,492 3,755 4,345 4,658
Total Current Assets
68 73 100 67 503 122 127 134 158 198 191
Cash & Equivalents
2.40 5.24 6.35 7.80 421 13 5.27 11 12 9.72 11
Note & Lease Receivable
21 20 28 29 29 43 49 49 51 53 68
Accounts Receivable
15 16 16 17 19 36 47 54 59 68 69
Prepaid Expenses
- - - - - 6.63 8.10 9.67 9.75 11 10
Current Deferred & Refundable Income Taxes
8.87 11 9.80 7.98 1.89 8.84 7.04 2.31 0.00 5.19 5.95
Other Current Assets
20 21 20 4.75 32 9.40 6.87 7.53 26 51 27
Plant, Property, & Equipment, net
1,025 1,098 1,197 1,284 1,373 2,206 2,335 2,539 2,671 3,171 3,490
Plant, Property & Equipment, gross
1,487 1,599 1,729 1,849 1,992 3,169 3,438 3,691 3,912 4,152 4,526
Accumulated Depreciation
462 501 532 564 619 976 1,060 1,152 1,241 982 1,037
Total Noncurrent Assets
176 166 147 107 81 818 806 819 925 989 978
Goodwill
- - - - 1.68 628 628 640 640 640 640
Employee Benefit Assets
- - - - - - - - 17 34 66
Other Noncurrent Operating Assets
164 160 144 102 79 189 178 179 268 274 271
Total Liabilities & Shareholders' Equity
1,269 1,337 1,443 1,458 1,956 3,132 3,311 3,492 3,755 4,345 4,658
Total Liabilities
909 954 1,022 995 1,067 2,242 2,394 2,458 2,644 3,112 3,291
Total Current Liabilities
45 80 64 85 164 235 351 203 268 343 261
Short-Term Debt
14 38 14 25 100 139 251 102 164 220 123
Accounts Payable
7.00 16 19 23 25 35 34 30 30 46 56
Accrued Expenses
6.03 7.16 11 14 14 17 19 17 20 24 25
Current Employee Benefit Liabilities
3.76 4.20 4.70 6.01 7.18 12 14 12 12 12 15
Other Current Liabilities
6.16 6.16 6.98 7.93 9.12 18 19 28 27 24 24
Other Current Nonoperating Liabilities
6.36 6.19 6.31 6.87 7.13 13 13 14 14 16 17
Total Noncurrent Liabilities
864 874 958 910 903 2,008 2,044 2,255 2,376 2,769 3,030
Long-Term Debt
384 377 433 431 431 1,284 1,288 1,493 1,492 1,527 1,707
Asset Retirement Reserve & Litigation Obligation
- - 0.00 62 59 - - - 119 461 484
Noncurrent Deferred Revenue
73 77 85 84 81 112 125 131 138 147 155
Noncurrent Deferred & Payable Income Tax Liabilities
186 199 205 86 80 196 191 200 218 239 276
Noncurrent Employee Benefit Liabilities
74 70 70 73 70 108 122 90 60 47 45
Other Noncurrent Operating Liabilities
147 151 165 174 182 308 318 341 350 349 363
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
360 384 422 463 889 890 917 1,035 1,111 1,233 1,367
Total Preferred & Common Equity
360 384 422 463 889 890 917 1,035 1,111 1,233 1,367
Total Common Equity
360 384 422 463 889 890 917 1,035 1,111 1,233 1,367
Common Stock
77 79 82 85 495 507 510 606 651 736 828
Retained Earnings
281 302 338 376 394 383 408 428 458 495 537
Accumulated Other Comprehensive Income / (Loss)
2.52 2.31 1.52 2.20 0.00 0.13 -1.06 -0.16 1.48 1.79 1.96

Quarterly Balance Sheets for H2O America

This table presents H2O America's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025
Total Assets
3,605 3,652 3,712 3,843 4,368 4,439 4,552 4,729 4,847
Total Current Assets
158 194 201 229 178 173 187 197 200
Cash & Equivalents
13 23 25 21 4.54 23 3.97 24 20
Note & Lease Receivable
61 46 55 67 47 63 75 65 76
Accounts Receivable
64 56 59 70 63 70 76 66 77
Prepaid Expenses
13 11 9.15 15 13 9.86 15 13 8.43
Current Deferred & Refundable Income Taxes
0.00 - - - 2.91 0.00 11 4.51 0.00
Other Current Assets
7.00 57 53 56 49 6.88 6.16 24 20
Plant, Property, & Equipment, net
2,634 2,655 2,704 2,765 3,222 3,297 3,407 3,549 3,656
Plant, Property & Equipment, gross
3,858 3,906 3,982 4,070 4,216 4,313 4,454 4,609 4,735
Accumulated Depreciation
1,224 1,250 1,277 1,305 1,007 1,030 1,048 1,059 1,080
Total Noncurrent Assets
813 803 806 863 981 983 959 982 991
Goodwill
640 640 640 640 640 640 640 640 640
Employee Benefit Assets
- - - - 34 37 39 68 69
Other Noncurrent Operating Assets
172 163 166 181 264 264 278 274 282
Total Liabilities & Shareholders' Equity
3,605 3,652 3,712 3,843 4,368 4,439 4,552 4,729 4,847
Total Liabilities
2,555 2,500 2,529 2,623 3,127 3,165 3,218 3,331 3,381
Total Current Liabilities
319 213 238 308 323 350 244 297 314
Short-Term Debt
204 117 128 172 220 227 101 171 180
Accounts Payable
30 26 36 36 34 38 44 47 48
Accrued Expenses
28 12 23 33 17 33 38 23 38
Current Employee Benefit Liabilities
12 9.08 10 11 8.82 11 12 9.82 12
Other Current Liabilities
24 26 21 25 24 25 28 25 20
Other Current Nonoperating Liabilities
18 19 16 19 19 16 20 20 16
Total Noncurrent Liabilities
2,237 2,287 2,291 2,315 2,804 2,815 2,974 3,035 3,067
Long-Term Debt
1,454 1,520 1,519 1,534 1,550 1,550 1,674 1,691 1,692
Asset Retirement Reserve & Litigation Obligation
- - - - 470 475 474 494 509
Noncurrent Deferred Revenue
141 138 140 144 141 144 151 162 173
Noncurrent Deferred & Payable Income Tax Liabilities
208 220 229 235 240 241 268 280 286
Noncurrent Employee Benefit Liabilities
90 56 53 51 47 48 48 44 44
Other Noncurrent Operating Liabilities
344 353 350 352 355 357 360 363 363
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
1,049 1,152 1,183 1,220 1,240 1,275 1,334 1,397 1,466
Total Preferred & Common Equity
1,049 1,152 1,183 1,220 1,240 1,275 1,334 1,397 1,466
Total Common Equity
1,049 1,152 1,183 1,220 1,240 1,275 1,334 1,397 1,466
Common Stock
614 693 717 730 745 771 805 856 914
Retained Earnings
436 458 464 489 494 502 528 540 550
Accumulated Other Comprehensive Income / (Loss)
-0.77 1.57 1.58 1.90 1.35 1.35 1.35 1.96 1.96

Annual Metrics And Ratios for H2O America

This table displays calculated financial ratios and metrics derived from H2O America's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
15.46% -4.56% 11.35% 14.58% 2.18% 5.73% 34.26% 1.62% 8.19% 8.00% 11.65%
EBITDA Growth
47.50% -8.31% 23.12% 1.88% -15.71% -2.79% 67.28% 1.19% 10.75% 9.69% 9.11%
EBIT Growth
73.28% -14.59% 30.12% -1.20% -29.12% -20.17% 105.21% -1.85% 11.08% 16.05% 10.97%
NOPAT Growth
91.45% -20.97% 20.33% 8.21% -9.60% -27.39% 144.64% -5.71% 20.29% 18.89% 11.46%
Net Income Growth
131.44% -26.88% 39.48% 15.63% -36.55% -39.05% 160.36% -1.69% 22.07% 15.11% 10.57%
EPS Growth
126.79% -27.17% 38.92% 11.28% -36.36% -54.95% 160.98% -5.14% 19.70% 10.29% 7.09%
Operating Cash Flow Growth
3.92% 48.92% 16.73% -11.75% -9.66% 42.33% -19.96% 24.98% 27.81% 14.82% 2.46%
Free Cash Flow Firm Growth
-5.56% 142.32% 7.97% -136.77% -1,318.28% -3,534.63% 100.71% -1,393.35% 83.63% -308.48% 22.85%
Invested Capital Growth
11.49% 5.77% 6.66% 7.91% 10.21% 130.54% 4.07% 8.91% 5.20% 7.89% 7.24%
Revenue Q/Q Growth
0.64% 6.39% -2.39% 3.79% 1.32% 6.89% 1.78% 0.71% 5.37% -0.01% 3.67%
EBITDA Q/Q Growth
4.43% 14.63% -2.41% -4.56% 2.28% -6.14% 12.46% 4.16% 8.17% -5.80% 1.94%
EBIT Q/Q Growth
5.46% 22.52% -4.23% -7.43% 1.77% -20.19% 21.65% 6.18% 13.64% -9.94% 2.27%
NOPAT Q/Q Growth
0.76% 29.46% -9.15% 0.35% 3.82% -20.35% 25.83% 1.37% 16.95% -6.80% 5.58%
Net Income Q/Q Growth
1.99% 38.37% -4.46% 6.22% -48.93% 154.68% 43.91% 3.56% 32.56% -14.62% 4.41%
EPS Q/Q Growth
1.60% 39.10% -4.81% 6.32% -20.18% -41.01% 43.62% 7.98% 25.91% -15.99% 3.61%
Operating Cash Flow Q/Q Growth
6.11% 6.28% 11.52% -19.50% 5.17% 19.37% -4.84% -2.73% 4.44% -2.71% 5.35%
Free Cash Flow Firm Q/Q Growth
42.68% -48.96% 6,451.78% -130.40% -25.59% -5,043.53% 100.71% -58.86% 22.03% -25.16% -14.56%
Invested Capital Q/Q Growth
0.84% 3.05% 1.28% 2.41% 3.15% 120.24% 0.02% 1.76% 2.10% 2.14% 2.52%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
96.53% 96.18% 96.43% 96.50% 96.23% 95.47% 94.71% 94.60% 94.75% 94.86% 95.20%
EBITDA Margin
42.82% 41.14% 45.48% 40.45% 33.37% 30.68% 38.22% 38.06% 38.96% 39.56% 38.66%
Operating Margin
29.05% 26.21% 28.68% 26.17% 18.47% 13.67% 20.84% 19.38% 21.10% 22.29% 22.78%
EBIT Margin
30.46% 27.26% 31.86% 27.47% 19.06% 14.39% 21.99% 21.24% 21.81% 23.43% 23.29%
Profit (Net Income) Margin
16.21% 12.42% 15.55% 15.70% 9.75% 5.62% 10.90% 10.54% 11.89% 12.68% 12.56%
Tax Burden Percent
67.48% 61.95% 61.17% 63.32% 79.39% 73.65% 88.01% 87.84% 89.68% 93.45% 91.29%
Interest Burden Percent
78.85% 73.53% 79.82% 90.25% 64.43% 53.03% 56.30% 56.50% 60.82% 57.89% 59.05%
Effective Tax Rate
32.52% 38.05% 38.83% 36.68% 20.61% 26.35% 11.99% 12.16% 10.32% 6.55% 8.71%
Return on Invested Capital (ROIC)
8.80% 6.41% 7.26% 7.33% 6.07% 2.54% 4.37% 3.87% 4.35% 4.85% 5.03%
ROIC Less NNEP Spread (ROIC-NNEP)
5.88% 3.50% 5.65% 6.55% -0.80% 0.13% 1.50% 1.47% 1.67% 1.65% 1.59%
Return on Net Nonoperating Assets (RNNOA)
6.41% 3.77% 5.86% 6.48% -0.34% 0.11% 2.44% 2.33% 2.53% 2.40% 2.20%
Return on Equity (ROE)
15.21% 10.18% 13.12% 13.81% 5.73% 2.66% 6.81% 6.20% 6.88% 7.25% 7.23%
Cash Return on Invested Capital (CROIC)
-2.06% 0.80% 0.82% -0.28% -3.64% -76.44% 0.38% -4.66% -0.71% -2.73% -1.96%
Operating Return on Assets (OROA)
8.19% 6.38% 7.78% 7.37% 4.44% 2.38% 3.85% 3.58% 3.74% 3.88% 3.87%
Return on Assets (ROA)
4.35% 2.91% 3.80% 4.21% 2.27% 0.93% 1.91% 1.78% 2.04% 2.10% 2.09%
Return on Common Equity (ROCE)
15.21% 10.18% 13.12% 13.81% 5.73% 2.66% 6.81% 6.20% 6.88% 7.25% 7.23%
Return on Equity Simple (ROE_SIMPLE)
14.38% 9.87% 12.53% 13.19% 4.36% 2.65% 6.71% 5.85% 6.65% 6.89% 6.87%
Net Operating Profit after Tax (NOPAT)
63 50 60 64 58 42 104 98 117 140 156
NOPAT Margin
19.60% 16.24% 17.55% 16.57% 14.66% 10.07% 18.35% 17.02% 18.92% 20.83% 20.80%
Net Nonoperating Expense Percent (NNEP)
2.93% 2.91% 1.62% 0.77% 6.87% 2.41% 2.87% 2.40% 2.68% 3.21% 3.44%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - - 4.25% 4.69% 4.87%
Cost of Revenue to Revenue
3.47% 3.82% 3.57% 3.50% 3.77% 4.53% 5.29% 5.40% 5.25% 5.14% 4.80%
SG&A Expenses to Revenue
12.69% 15.45% 12.23% 12.57% 12.30% 15.77% 14.13% 15.22% 15.37% 14.72% 14.14%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
67.48% 69.97% 67.75% 70.33% 77.77% 81.80% 73.86% 75.23% 73.65% 72.57% 72.42%
Earnings before Interest and Taxes (EBIT)
97 83 108 107 76 60 124 122 135 157 174
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
137 125 155 157 133 129 216 218 242 265 289
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.47 1.31 2.31 2.45 1.14 2.05 1.99 1.98 2.09 1.63 1.19
Price to Tangible Book Value (P/TBV)
1.47 1.31 2.31 2.45 1.14 6.97 6.30 5.20 4.94 3.56 2.23
Price to Revenue (P/Rev)
1.65 1.65 2.87 2.92 2.55 4.34 3.23 3.57 3.75 3.00 2.17
Price to Earnings (P/E)
10.20 13.30 18.46 19.21 26.19 77.89 29.61 33.87 31.49 23.69 17.27
Dividend Yield
2.87% 3.16% 1.70% 1.88% 2.62% 1.87% 2.01% 1.98% 1.88% 2.41% 3.28%
Earnings Yield
9.81% 7.52% 5.42% 5.21% 3.82% 1.28% 3.38% 2.95% 3.18% 4.22% 5.79%
Enterprise Value to Invested Capital (EV/IC)
1.22 1.14 1.65 1.73 1.12 1.39 1.39 1.38 1.43 1.25 1.07
Enterprise Value to Revenue (EV/Rev)
2.87 2.98 4.10 4.06 2.83 7.68 5.94 6.33 6.39 5.57 4.60
Enterprise Value to EBITDA (EV/EBITDA)
6.71 7.23 9.02 10.04 8.48 25.03 15.53 16.63 16.41 14.09 11.89
Enterprise Value to EBIT (EV/EBIT)
9.42 10.92 12.88 14.79 14.86 53.36 26.99 29.80 29.32 23.79 19.74
Enterprise Value to NOPAT (EV/NOPAT)
14.64 18.33 23.39 24.51 19.31 76.26 32.36 37.19 33.78 26.76 22.10
Enterprise Value to Operating Cash Flow (EV/OCF)
13.92 9.25 12.17 15.64 12.33 24.83 32.21 27.92 23.88 19.58 17.60
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 146.05 207.74 0.00 0.00 0.00 368.42 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.11 1.08 1.06 0.98 0.60 1.60 1.68 1.54 1.49 1.42 1.34
Long-Term Debt to Equity
1.07 0.98 1.03 0.93 0.49 1.44 1.40 1.44 1.34 1.24 1.25
Financial Leverage
1.09 1.08 1.04 0.99 0.42 0.87 1.62 1.59 1.52 1.45 1.38
Leverage Ratio
3.49 3.50 3.45 3.28 2.52 2.86 3.57 3.49 3.38 3.46 3.46
Compound Leverage Factor
2.75 2.58 2.76 2.96 1.63 1.52 2.01 1.97 2.05 2.00 2.04
Debt to Total Capital
52.51% 51.97% 51.50% 49.61% 37.40% 61.52% 62.66% 60.66% 59.85% 58.62% 57.24%
Short-Term Debt to Total Capital
1.82% 4.77% 1.65% 2.72% 7.04% 6.03% 10.23% 3.88% 5.93% 7.40% 3.84%
Long-Term Debt to Total Capital
50.69% 47.20% 49.85% 46.89% 30.37% 55.49% 52.42% 56.78% 53.92% 51.22% 53.40%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
47.49% 48.03% 48.50% 50.39% 62.60% 38.48% 37.34% 39.34% 40.15% 41.38% 42.76%
Debt to EBITDA
2.91 3.31 2.90 2.90 4.00 11.03 7.13 7.31 6.85 6.59 6.32
Net Debt to EBITDA
2.84 3.22 2.71 2.82 0.83 10.89 7.09 7.25 6.80 6.50 6.28
Long-Term Debt to EBITDA
2.81 3.01 2.80 2.74 3.25 9.95 5.97 6.84 6.17 5.76 5.90
Debt to NOPAT
6.35 8.38 7.51 7.07 9.11 33.62 14.86 16.33 14.10 12.51 11.76
Net Debt to NOPAT
6.21 8.16 7.03 6.88 1.90 33.19 14.77 16.21 13.99 12.35 11.68
Long-Term Debt to NOPAT
6.13 7.62 7.27 6.68 7.40 30.32 12.43 15.29 12.70 10.93 10.97
Altman Z-Score
1.19 1.06 1.41 1.54 1.39 0.81 0.84 0.93 0.95 0.78 0.72
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.52 0.92 1.57 0.79 3.07 0.52 0.36 0.66 0.59 0.58 0.73
Quick Ratio
0.87 0.52 0.79 0.64 2.86 0.39 0.29 0.56 0.46 0.38 0.57
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-15 6.22 6.71 -2.47 -35 -1,272 9.10 -118 -19 -79 -61
Operating Cash Flow to CapEx
75.51% 103.12% 104.99% 99.59% 67.12% 94,894.16% 23,919.77% 15,743.34% 26,338.99% 787.13% 674,227.59%
Free Cash Flow to Firm to Interest Expense
-0.71 0.28 0.31 -0.11 -1.31 -36.40 0.17 -2.22 -0.36 -1.19 -0.85
Operating Cash Flow to Interest Expense
3.17 4.42 5.25 4.41 3.42 3.72 1.92 2.45 3.13 2.89 2.74
Operating Cash Flow Less CapEx to Interest Expense
-1.03 0.13 0.25 -0.02 -1.68 3.72 1.91 2.44 3.12 2.52 2.74
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.27 0.23 0.24 0.27 0.23 0.17 0.18 0.17 0.17 0.17 0.17
Accounts Receivable Turnover
21.68 19.44 20.74 23.12 21.82 15.16 13.58 11.41 11.00 10.55 10.96
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.32 0.29 0.30 0.31 0.30 0.24 0.25 0.24 0.24 0.23 0.22
Accounts Payable Turnover
1.13 1.01 0.69 0.65 0.63 0.64 0.87 0.96 1.09 0.91 0.70
Days Sales Outstanding (DSO)
16.84 18.78 17.59 15.79 16.73 24.07 26.88 31.98 33.19 34.59 33.30
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
322.46 362.86 525.91 557.84 583.72 572.57 421.88 380.70 336.02 400.74 520.03
Cash Conversion Cycle (CCC)
-305.62 -344.08 -508.32 -542.06 -566.99 -548.50 -395.00 -348.71 -302.83 -366.16 -486.74
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
751 794 847 914 1,007 2,322 2,416 2,632 2,768 2,987 3,203
Invested Capital Turnover
0.45 0.40 0.41 0.44 0.41 0.25 0.24 0.23 0.23 0.23 0.24
Increase / (Decrease) in Invested Capital
77 43 53 67 93 1,315 94 215 137 218 216
Enterprise Value (EV)
918 908 1,394 1,581 1,126 3,228 3,351 3,631 3,968 3,737 3,440
Market Capitalization
528 504 975 1,137 1,015 1,823 1,822 2,048 2,325 2,013 1,623
Book Value per Share
$17.80 $18.83 $20.61 $22.57 $43.11 $31.28 $32.12 $34.68 $36.64 $38.62 $41.11
Tangible Book Value per Share
$17.80 $18.83 $20.61 $22.57 $43.02 $9.20 $10.12 $13.21 $15.52 $17.68 $21.85
Total Capital
758 799 869 919 1,421 2,313 2,456 2,630 2,767 2,981 3,197
Total Debt
398 415 448 456 531 1,423 1,539 1,595 1,656 1,747 1,830
Total Long-Term Debt
384 377 433 431 431 1,284 1,288 1,493 1,492 1,527 1,707
Net Debt
389 404 419 444 111 1,405 1,530 1,583 1,644 1,724 1,817
Capital Expenditures (CapEx)
87 95 109 102 136 0.14 0.44 0.83 0.63 24 0.03
Debt-free, Cash-free Net Working Capital (DFCFNWC)
35 27 25 -0.99 18 9.02 19 21 42 66 41
Debt-free Net Working Capital (DFNWC)
37 32 50 6.81 439 27 28 33 54 76 52
Net Working Capital (NWC)
23 -6.25 36 -18 339 -113 -223 -69 -110 -145 -70
Net Nonoperating Expense (NNE)
11 12 6.76 3.39 20 19 42 37 44 55 62
Net Nonoperating Obligations (NNO)
391 410 425 451 118 1,432 1,499 1,597 1,657 1,753 1,836
Total Depreciation and Amortization (D&A)
39 42 46 51 57 68 92 96 106 108 115
Debt-free, Cash-free Net Working Capital to Revenue
10.88% 8.72% 7.36% -0.26% 4.53% 2.14% 3.30% 3.63% 6.71% 9.87% 5.50%
Debt-free Net Working Capital to Revenue
11.63% 10.44% 14.83% 1.75% 110.32% 6.41% 4.94% 5.74% 8.70% 11.32% 6.99%
Net Working Capital to Revenue
7.32% -2.05% 10.61% -4.67% 85.17% -26.76% -39.58% -12.06% -17.71% -21.57% -9.41%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$2.56 $1.86 $2.59 $2.89 $1.83 $0.82 $2.16 $2.04 $2.44 $2.69 $2.87
Adjusted Weighted Average Basic Shares Outstanding
20.23M 20.36M 20.44M 20.51M 21.21M 28.44M 28.52M 29.60M 30.30M 31.58M 32.70M
Adjusted Diluted Earnings per Share
$2.54 $1.85 $2.57 $2.86 $1.82 $0.82 $2.14 $2.03 $2.43 $2.68 $2.87
Adjusted Weighted Average Diluted Shares Outstanding
20.42M 20.52M 20.59M 20.69M 21.33M 28.56M 28.69M 29.74M 30.42M 31.66M 32.78M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.82 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
20.34M 20.42M 20.49M 20.56M 28.43M 28.49M 28.60M 30.23M 30.85M 32.06M 33.67M
Normalized Net Operating Profit after Tax (NOPAT)
63 50 60 64 73 54 104 93 112 140 156
Normalized NOPAT Margin
19.60% 16.24% 17.55% 16.57% 18.38% 12.83% 18.35% 16.21% 18.03% 20.83% 20.80%
Pre Tax Income Margin
24.02% 20.05% 25.43% 24.79% 12.28% 7.63% 12.38% 12.00% 13.26% 13.57% 13.75%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
4.68 3.75 4.96 4.66 2.84 1.73 2.29 2.30 2.55 2.37 2.44
NOPAT to Interest Expense
3.01 2.23 2.73 2.81 2.18 1.21 1.91 1.84 2.21 2.11 2.18
EBIT Less CapEx to Interest Expense
0.49 -0.54 -0.04 0.24 -2.26 1.73 2.28 2.28 2.54 2.01 2.44
NOPAT Less CapEx to Interest Expense
-1.18 -2.06 -2.27 -1.62 -2.91 1.21 1.90 1.83 2.20 1.74 2.18
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
29.30% 41.93% 31.34% 34.91% 59.52% 144.47% 59.35% 66.37% 59.03% 56.37% 55.48%
Augmented Payout Ratio
29.30% 41.93% 31.34% 34.91% 59.52% 144.47% 59.35% 66.37% 59.03% 56.37% 55.48%

Quarterly Metrics And Ratios for H2O America

This table displays calculated financial ratios and metrics derived from H2O America's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
22.64% 10.45% 5.26% 16.40% -0.02% 8.80% 12.29% 9.87% 15.46% 12.19% 12.53%
EBITDA Growth
31.22% 21.07% 11.17% 29.14% -14.73% 9.32% 19.51% 0.66% 10.31% 9.74% 5.84%
EBIT Growth
47.88% 61.76% 18.13% 45.83% -24.56% 10.79% 28.37% -0.64% 13.48% 16.43% 7.33%
NOPAT Growth
63.80% 78.43% 55.01% 34.90% -24.41% 1.81% 1.23% 10.55% 25.27% 26.58% 7.27%
Net Income Growth
118.02% 208.54% 58.21% 44.69% -43.43% 1.47% 13.18% 6.71% 20.96% 41.47% 19.23%
EPS Growth
81.97% 208.33% 52.63% 37.80% -45.95% -2.70% 10.34% 3.54% 16.67% 36.11% 10.94%
Operating Cash Flow Growth
23.72% 11.73% 22.07% 35.38% -14.44% 1.20% 5.47% -13.57% 31.50% -15.69% 23.36%
Free Cash Flow Firm Growth
50.80% -1.08% 0.79% -84.84% -99.63% -70.19% -60.32% 10.83% 5.62% 6.46% -34.12%
Invested Capital Growth
5.20% 5.69% 5.70% 7.84% 7.89% 8.60% 7.93% 6.85% 7.24% 7.66% 9.55%
Revenue Q/Q Growth
-2.62% -19.89% 14.27% 30.57% -16.36% -12.81% 17.94% 27.75% -12.10% -15.28% 18.29%
EBITDA Q/Q Growth
17.20% -32.38% 8.42% 41.07% -22.62% -8.33% 18.53% 18.82% -15.20% -8.12% 14.32%
EBIT Q/Q Growth
27.17% -48.46% 16.98% 72.89% -34.22% -17.79% 35.54% 33.81% -24.87% -14.56% 24.95%
NOPAT Q/Q Growth
18.13% -47.70% 47.52% 48.01% -33.80% -29.56% 46.67% 61.65% -24.99% -28.82% 24.30%
Net Income Q/Q Growth
33.81% -65.58% 58.60% 98.09% -47.69% -38.26% 76.90% 86.76% -40.70% -27.79% 49.08%
EPS Q/Q Growth
35.37% -66.67% 56.76% 94.83% -46.90% -40.00% 77.78% 82.81% -40.17% -30.00% 44.90%
Operating Cash Flow Q/Q Growth
-19.46% 37.33% -7.61% 32.47% -49.10% 62.45% -3.71% 8.55% -22.55% 4.15% 40.89%
Free Cash Flow Firm Q/Q Growth
-5.49% -36.97% 7.02% -37.58% -13.93% -16.77% 12.41% 23.48% -20.60% -15.72% -25.60%
Invested Capital Q/Q Growth
2.10% 0.61% 1.24% 3.69% 2.14% 1.28% 0.62% 2.66% 2.52% 1.67% 2.38%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
95.14% 93.88% 94.97% 95.71% 94.52% 94.09% 95.22% 95.84% 95.29% 94.51% 95.71%
EBITDA Margin
44.78% 40.27% 38.21% 41.28% 38.19% 40.46% 40.66% 37.82% 36.49% 39.57% 38.24%
Operating Margin
29.40% 18.34% 19.86% 27.63% 21.30% 18.69% 23.03% 25.93% 22.07% 21.42% 22.13%
EBIT Margin
29.27% 20.72% 21.21% 28.08% 22.09% 21.10% 24.25% 25.40% 21.71% 21.89% 23.13%
Profit (Net Income) Margin
19.55% 8.40% 11.66% 17.68% 11.06% 7.83% 11.75% 17.17% 11.59% 9.88% 12.45%
Tax Burden Percent
87.38% 91.45% 109.01% 88.82% 91.20% 83.98% 84.75% 95.25% 95.47% 82.66% 84.09%
Interest Burden Percent
76.42% 44.33% 50.41% 70.89% 54.91% 44.20% 57.17% 71.00% 55.90% 54.57% 64.01%
Effective Tax Rate
12.62% 8.55% -9.01% 11.18% 8.80% 16.02% 15.25% 4.75% 4.53% 17.34% 15.91%
Return on Invested Capital (ROIC)
5.91% 3.92% 5.06% 5.84% 4.53% 3.69% 4.67% 5.90% 5.10% 4.32% 4.60%
ROIC Less NNEP Spread (ROIC-NNEP)
5.26% 3.21% 4.10% 5.00% 3.68% 3.00% 3.87% 4.93% 4.05% 3.60% 3.93%
Return on Net Nonoperating Assets (RNNOA)
7.98% 4.77% 6.08% 7.42% 5.36% 4.28% 5.36% 6.74% 5.59% 4.98% 5.22%
Return on Equity (ROE)
13.88% 8.69% 11.14% 13.26% 9.89% 7.97% 10.03% 12.64% 10.69% 9.30% 9.82%
Cash Return on Invested Capital (CROIC)
-0.71% -0.87% -0.54% -2.23% -2.73% -3.41% -2.80% -1.75% -1.96% -2.23% -3.97%
Operating Return on Assets (OROA)
5.01% 3.66% 3.75% 5.06% 3.66% 3.59% 4.17% 4.37% 3.61% 3.69% 3.93%
Return on Assets (ROA)
3.35% 1.49% 2.06% 3.18% 1.83% 1.33% 2.02% 2.95% 1.93% 1.66% 2.11%
Return on Common Equity (ROCE)
13.88% 8.69% 11.14% 13.26% 9.89% 7.97% 10.03% 12.64% 10.69% 9.30% 9.82%
Return on Equity Simple (ROE_SIMPLE)
0.00% 7.08% 7.47% 8.16% 0.00% 6.87% 6.87% 6.75% 0.00% 7.07% 0.00%
Net Operating Profit after Tax (NOPAT)
44 23 34 50 33 23 34 56 42 30 37
NOPAT Margin
25.69% 16.77% 21.65% 24.54% 19.42% 15.69% 19.52% 24.70% 21.07% 17.70% 18.60%
Net Nonoperating Expense Percent (NNEP)
0.65% 0.71% 0.96% 0.84% 0.84% 0.69% 0.80% 0.97% 1.05% 0.72% 0.67%
Return On Investment Capital (ROIC_SIMPLE)
1.59% - - - 1.12% - - - 1.30% 0.91% 1.11%
Cost of Revenue to Revenue
4.86% 6.12% 5.03% 4.29% 5.48% 5.91% 4.78% 4.16% 4.71% 5.49% 4.29%
SG&A Expenses to Revenue
14.02% 17.73% 15.00% 11.66% 15.70% 17.26% 11.62% 11.42% 17.12% 16.56% 14.52%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
65.74% 75.54% 75.11% 68.07% 73.22% 75.40% 72.19% 69.91% 73.22% 73.10% 73.58%
Earnings before Interest and Taxes (EBIT)
50 28 33 58 38 32 43 57 43 37 46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
77 55 60 85 65 60 72 85 72 66 76
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.09 1.96 1.80 1.52 1.63 1.44 1.36 1.43 1.19 1.32 1.21
Price to Tangible Book Value (P/TBV)
4.94 4.42 3.93 3.37 3.56 3.12 2.87 2.74 2.23 2.43 2.15
Price to Revenue (P/Rev)
3.75 3.57 3.33 2.77 3.00 2.61 2.47 2.63 2.17 2.40 2.25
Price to Earnings (P/E)
31.49 27.73 24.16 18.69 23.69 20.93 19.83 21.12 17.27 18.63 17.28
Dividend Yield
1.88% 1.99% 2.18% 2.56% 2.41% 2.76% 2.90% 2.72% 3.28% 2.96% 3.16%
Earnings Yield
3.18% 3.61% 4.14% 5.35% 4.22% 4.78% 5.04% 4.73% 5.79% 5.37% 5.79%
Enterprise Value to Invested Capital (EV/IC)
1.43 1.39 1.33 1.21 1.25 1.17 1.14 1.17 1.07 1.13 1.09
Enterprise Value to Revenue (EV/Rev)
6.39 6.12 5.85 5.27 5.57 5.18 4.95 5.08 4.60 4.80 4.60
Enterprise Value to EBITDA (EV/EBITDA)
16.41 15.12 14.31 12.54 14.09 13.01 12.27 12.93 11.89 12.47 12.12
Enterprise Value to EBIT (EV/EBIT)
29.32 25.63 24.02 20.25 23.79 21.90 20.35 21.53 19.74 20.50 19.87
Enterprise Value to NOPAT (EV/NOPAT)
33.78 30.67 27.38 23.57 26.76 25.17 24.55 24.90 22.10 22.75 22.13
Enterprise Value to Operating Cash Flow (EV/OCF)
23.88 22.60 20.87 18.00 19.58 18.46 17.92 19.78 17.60 19.63 18.23
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.49 1.42 1.39 1.40 1.42 1.43 1.39 1.33 1.34 1.33 1.28
Long-Term Debt to Equity
1.34 1.32 1.28 1.26 1.24 1.25 1.22 1.25 1.25 1.21 1.15
Financial Leverage
1.52 1.49 1.48 1.48 1.45 1.43 1.39 1.37 1.38 1.38 1.33
Leverage Ratio
3.38 3.29 3.28 3.28 3.46 3.35 3.32 3.29 3.46 3.45 3.39
Compound Leverage Factor
2.58 1.46 1.65 2.33 1.90 1.48 1.90 2.33 1.94 1.88 2.17
Debt to Total Capital
59.85% 58.69% 58.20% 58.30% 58.62% 58.80% 58.22% 57.10% 57.24% 57.14% 56.08%
Short-Term Debt to Total Capital
5.93% 4.18% 4.51% 5.88% 7.40% 7.30% 7.43% 3.26% 3.84% 5.25% 5.39%
Long-Term Debt to Total Capital
53.92% 54.50% 53.69% 52.42% 51.22% 51.50% 50.79% 53.84% 53.40% 51.88% 50.70%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
40.15% 41.31% 41.80% 41.70% 41.38% 41.20% 41.78% 42.90% 42.76% 42.86% 43.92%
Debt to EBITDA
6.85 6.38 6.27 6.06 6.59 6.52 6.27 6.25 6.32 6.31 6.25
Net Debt to EBITDA
6.80 6.29 6.18 5.94 6.50 6.45 6.14 6.23 6.28 6.23 6.19
Long-Term Debt to EBITDA
6.17 5.93 5.79 5.45 5.76 5.71 5.47 5.90 5.90 5.73 5.65
Debt to NOPAT
14.10 12.95 12.01 11.38 12.51 12.60 12.54 12.04 11.76 11.51 11.42
Net Debt to NOPAT
13.99 12.77 11.82 11.16 12.35 12.48 12.29 12.00 11.68 11.37 11.29
Long-Term Debt to NOPAT
12.70 12.03 11.08 10.24 10.93 11.04 10.94 11.35 10.97 10.46 10.32
Altman Z-Score
0.87 0.91 0.87 0.80 0.69 0.64 0.63 0.70 0.63 0.65 0.64
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.59 0.91 0.85 0.74 0.58 0.55 0.49 0.77 0.73 0.66 0.64
Quick Ratio
0.46 0.59 0.59 0.51 0.38 0.35 0.45 0.63 0.57 0.52 0.55
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-93 -127 -118 -162 -185 -216 -189 -145 -175 -202 -254
Operating Cash Flow to CapEx
175,476.19% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 142,965.52% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
-7.84 -8.02 -7.16 -9.70 -10.84 -12.29 -10.35 -8.74 -9.22 -12.13 -15.38
Operating Cash Flow to Interest Expense
3.12 3.20 2.83 3.70 1.85 2.91 2.70 3.23 2.19 2.59 3.69
Operating Cash Flow Less CapEx to Interest Expense
3.11 3.20 2.83 3.70 1.85 2.91 2.70 3.23 2.19 2.59 3.69
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.17 0.18 0.18 0.18 0.17 0.17 0.17 0.17 0.17 0.17 0.17
Accounts Receivable Turnover
11.00 11.48 10.93 10.00 10.55 11.46 10.90 9.87 10.96 11.93 10.73
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.24 0.24 0.24 0.25 0.23 0.23 0.23 0.23 0.22 0.23 0.23
Accounts Payable Turnover
1.09 1.20 1.05 1.02 0.91 1.16 0.95 0.90 0.70 0.90 0.84
Days Sales Outstanding (DSO)
33.19 31.80 33.39 36.51 34.59 31.85 33.49 36.96 33.30 30.59 34.01
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
336.02 303.61 348.75 358.70 400.74 315.66 383.15 407.69 520.03 407.57 432.24
Cash Conversion Cycle (CCC)
-302.83 -271.82 -315.37 -322.19 -366.16 -283.80 -349.66 -370.73 -486.74 -376.98 -398.22
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
2,768 2,785 2,820 2,924 2,987 3,025 3,043 3,124 3,203 3,257 3,334
Invested Capital Turnover
0.23 0.23 0.23 0.24 0.23 0.23 0.24 0.24 0.24 0.24 0.25
Increase / (Decrease) in Invested Capital
137 150 152 213 218 240 224 200 216 232 291
Enterprise Value (EV)
3,968 3,877 3,756 3,531 3,737 3,535 3,476 3,671 3,440 3,681 3,629
Market Capitalization
2,325 2,263 2,134 1,860 2,013 1,782 1,736 1,901 1,623 1,841 1,776
Book Value per Share
$36.64 $37.36 $37.63 $38.41 $38.62 $38.67 $39.54 $40.77 $41.11 $41.50 $42.89
Tangible Book Value per Share
$15.52 $16.60 $17.26 $17.36 $17.68 $17.82 $18.80 $21.20 $21.85 $22.48 $24.15
Total Capital
2,767 2,790 2,830 2,926 2,981 3,010 3,051 3,109 3,197 3,260 3,338
Total Debt
1,656 1,637 1,647 1,706 1,747 1,770 1,776 1,775 1,830 1,863 1,872
Total Long-Term Debt
1,492 1,520 1,519 1,534 1,527 1,550 1,550 1,674 1,707 1,691 1,692
Net Debt
1,644 1,614 1,621 1,672 1,724 1,752 1,740 1,770 1,817 1,839 1,852
Capital Expenditures (CapEx)
0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)
42 74 66 71 66 70 27 41 41 48 46
Debt-free Net Working Capital (DFNWC)
54 98 91 93 76 75 50 45 52 72 66
Net Working Capital (NWC)
-110 -19 -37 -79 -145 -145 -177 -57 -70 -99 -114
Net Nonoperating Expense (NNE)
11 11 16 14 14 12 14 17 19 13 12
Net Nonoperating Obligations (NNO)
1,657 1,633 1,637 1,704 1,753 1,785 1,769 1,791 1,836 1,859 1,868
Total Depreciation and Amortization (D&A)
27 27 27 27 28 29 29 28 29 30 30
Debt-free, Cash-free Net Working Capital to Revenue
6.71% 11.72% 10.23% 10.66% 9.87% 10.26% 3.81% 5.62% 5.50% 6.28% 5.85%
Debt-free Net Working Capital to Revenue
8.70% 15.40% 14.20% 13.81% 11.32% 10.93% 7.06% 6.17% 6.99% 9.37% 8.37%
Net Working Capital to Revenue
-17.71% -3.02% -5.69% -11.84% -21.57% -21.27% -25.22% -7.86% -9.41% -12.97% -14.43%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.11 $0.37 $0.58 $1.14 $0.60 $0.36 $0.64 $1.17 $0.70 $0.49 $0.71
Adjusted Weighted Average Basic Shares Outstanding
30.30M 30.94M 31.50M 31.86M 31.58M 32.08M 32.40M 32.90M 32.70M 33.78M 34.78M
Adjusted Diluted Earnings per Share
$1.11 $0.37 $0.58 $1.13 $0.60 $0.36 $0.64 $1.17 $0.70 $0.49 $0.71
Adjusted Weighted Average Diluted Shares Outstanding
30.42M 31.04M 31.59M 31.93M 31.66M 32.14M 32.46M 32.98M 32.78M 33.87M 34.86M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
30.85M 31.43M 31.77M 31.93M 32.06M 32.23M 32.71M 33.25M 33.67M 34.18M 35.29M
Normalized Net Operating Profit after Tax (NOPAT)
43 23 22 50 33 23 34 56 42 30 37
Normalized NOPAT Margin
25.35% 16.77% 13.90% 24.54% 19.42% 15.69% 19.52% 24.70% 21.07% 17.70% 18.60%
Pre Tax Income Margin
22.37% 9.18% 10.69% 19.91% 12.13% 9.33% 13.86% 18.03% 12.14% 11.95% 14.80%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
4.24 1.80 2.02 3.44 2.22 1.79 2.33 3.45 2.27 2.20 2.78
NOPAT to Interest Expense
3.72 1.45 2.06 3.00 1.95 1.33 1.88 3.35 2.20 1.78 2.24
EBIT Less CapEx to Interest Expense
4.24 1.80 2.02 3.44 2.22 1.79 2.33 3.45 2.27 2.20 2.78
NOPAT Less CapEx to Interest Expense
3.72 1.45 2.06 3.00 1.95 1.33 1.88 3.35 2.20 1.78 2.24
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
59.03% 54.42% 51.48% 46.89% 56.37% 57.55% 57.05% 56.64% 55.48% 54.09% 53.65%
Augmented Payout Ratio
59.03% 54.42% 51.48% 46.89% 56.37% 57.55% 57.05% 56.64% 55.48% 54.09% 53.65%

Key Financial Trends

Over the past four years, SJW Group (NASDAQ: HTO) has demonstrated steady financial growth and operational stability as reflected in their quarterly filings.

Positive Trends:

  • Consistent growth in operating revenue from approximately $137M in Q1 2023 to $198M in Q2 2025, indicating steady expansion in core business activities.
  • Increasing net income from $11.5M in Q1 2023 to $24.7M in Q2 2025 showing improving profitability.
  • Gross profit margins have remained strong, with total gross profit consistently about $140M+ every quarter, highlighting efficient cost management of goods sold.
  • Steady increase in total common equity from about $1.15B in Q1 2023 to $1.47B in Q2 2025, indicating strengthening financial position and retained earnings growth.
  • Operating cash flow improved significantly from $50.6M in Q1 2023 to $60.8M in Q2 2025, reflecting solid cash generation from core operations.
  • Investments in property, plant, and equipment gross value have grown steadily, showing capital expenditures to support future growth.
  • Share repurchases were not explicit but issuance of common equity increased from $7M in Q1 2023 to over $57M in Q2 2025, indicating equity financing possibly to fund growth or reduce leverage.
  • Dividends per share increased slightly from $0.36 in early 2023 to $0.42 in 2025, representing ongoing shareholder returns.
  • Diluted earnings per share improved from $0.36 in Q1 2023 to $0.71 in Q2 2025, benefiting shareholders through higher profitability per share.

Neutral Observations:

  • Interest expense remains significant, fluctuating between approximately $15M and $19M quarterly, showing consistent debt-related costs but manageable with earnings.
  • Non-cash adjustments to reconcile net income vary significantly each quarter, reflecting fluctuations in deferred items, depreciation methods, or asset impairments.
  • Changes in operating assets and liabilities often show negative impacts on cash flow, suggesting working capital fluctuations that merit monitoring.
  • Long-term debt remains substantial at around $1.5B, stable over quarters, requiring ongoing management but not showing major increases.
  • Balance sheet total assets have grown steadily from around $3.6B in Q3 2022 to $4.8B in Q2 2025, consistent with business expansion and capital investments.

Negative or Cautionary Points:

  • Net cash used in investing activities is consistently significant and negative, around $50M to $130M per quarter, indicating heavy capital expenditures or investment outflows which could pressure liquidity if not balanced by operating cash flows.
  • Cash interest paid has increased noticeably, reaching over $46M in Q2 2025, increasing the cost burden related to debt servicing.
  • Payment of dividends and debt repayments are substantial cash outflows, with dividends around $12-14M and debt repayments north of $40M quarterly, impacting free cash availability.
  • Some non-cash adjustments and other operating expenses appear volatile quarter to quarter, indicating potential irregular charges or accounting variations.

Summary:

SJW Group has exhibited sound revenue and earnings growth over the last several years, complemented by increasing operating cash flows and a stronger equity base. The company is investing heavily in infrastructure and maintaining dividends, reflecting confidence in future growth. However, significant investing cash outflows and sizeable interest payments highlight leverage costs and capital intensity of the business, requiring prudent financial management. Overall, the financial statements portray a stable utility company with positive earnings trends but with careful attention warranted on cash flow management related to investments and debt costs.

08/09/25 05:16 AMAI Generated. May Contain Errors.

Frequently Asked Questions About H2O America's Financials

When does H2O America's fiscal year end?

According to the most recent income statement we have on file, H2O America's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has H2O America's net income changed over the last 10 years?

H2O America's net income appears to be on an upward trend, with a most recent value of $93.97 million in 2024, rising from $51.81 million in 2014. The previous period was $84.99 million in 2023. See H2O America's forecast for analyst expectations on what’s next for the company.

What is H2O America's operating income?
H2O America's total operating income in 2024 was $170.50 million, based on the following breakdown:
  • Total Gross Profit: $712.51 million
  • Total Operating Expenses: $542.01 million
How has H2O America's revenue changed over the last 10 years?

Over the last 10 years, H2O America's total revenue changed from $319.67 million in 2014 to $748.44 million in 2024, a change of 134.1%.

How much debt does H2O America have?

H2O America's total liabilities were at $3.29 billion at the end of 2024, a 5.8% increase from 2023, and a 262.0% increase since 2014.

How much cash does H2O America have?

In the past 10 years, H2O America's cash and equivalents has ranged from $2.40 million in 2014 to $420.72 million in 2018, and is currently $11.11 million as of their latest financial filing in 2024.

How has H2O America's book value per share changed over the last 10 years?

Over the last 10 years, H2O America's book value per share changed from 17.80 in 2014 to 41.11 in 2024, a change of 131.0%.



This page (NASDAQ:HTO) was last updated on 8/9/2025 by MarketBeat.com Staff
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