American Water Works (AWK) Financials

$142.98 -1.77 (-1.22%)

Closing price 08/28/2025 03:59 PM Eastern

Extended Trading

$143.28 +0.30 (+0.21%)

As of 04:12 AM Eastern

Annual Income Statements for American Water Works

This table shows American Water Works' 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	423	476	468	426	567	621	709	1,263	820	944	1,051
Consolidated Net Income / (Loss)	423	476	468	426	565	621	709	1,263	820	944	1,051
Net Income / (Loss) Continuing Operations	430	476	468	426	565	621	709	1,263	820	944	1,051
Total Pre-Tax Income	710	782	770	912	787	833	924	1,640	1,008	1,196	1,359
Total Operating Income	1,003	1,075	1,085	1,253	1,102	1,214	1,248	1,196	1,273	1,504	1,718
Total Gross Profit	1,661	1,755	1,803	1,988	1,961	2,066	2,155	2,153	2,203	2,514	2,826
Total Revenue	3,011	3,159	3,302	3,357	3,440	3,610	3,777	3,930	3,792	4,234	4,684
Operating Revenue	3,011	3,159	3,302	3,357	3,440	3,610	3,777	3,930	3,792	4,234	4,684
Total Cost of Revenue	1,350	1,404	1,499	1,369	1,479	1,544	1,622	1,777	1,589	1,720	1,858
Operating Cost of Revenue	1,350	1,404	1,499	1,369	1,479	1,544	1,622	1,777	1,589	1,720	1,858
Total Operating Expenses	658	680	718	735	859	852	907	957	930	1,010	1,108
Depreciation Expense	424	440	470	492	545	582	604	636	649	704	788
Other Operating Expenses / (Income)	236	243	258	259	277	270	303	321	281	306	320
Total Other Income / (Expense), net	-293	-293	-315	-341	-315	-381	-324	444	-265	-308	-359
Interest Expense	-	0.00	0.00	7.00	-	386	397	403	433	460	523
Interest & Investment Income	-299	-308	-325	-342	-350	4.00	2.00	4.00	52	73	94
Other Income / (Expense), net	6.00	15	10	8.00	35	1.00	71	843	116	79	70
Income Tax Expense	280	306	302	486	222	212	215	377	188	252	308
Basic Earnings per Share	$2.36	$2.66	$2.63	$2.39	$3.16	$3.44	$3.91	$6.96	$4.51	$4.90	$5.39
Weighted Average Basic Shares Outstanding	179M	179M	178M	178M	180M	181M	181M	182M	182M	193M	195M
Diluted Earnings per Share	$2.35	$2.64	$2.62	$2.38	$3.15	$3.43	$3.91	$6.95	$4.51	$4.90	$5.39
Weighted Average Diluted Shares Outstanding	180M	180M	179M	179M	180M	181M	182M	182M	182M	193M	195M
Weighted Average Basic & Diluted Shares Outstanding	179.20M	178.90M	177.90M	178.20M	179.40M	180.97M	181.44M	181.72M	181.86M	194.76M	194.95M

This table shows American Water Works' 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	147	170	280	323	171	185	277	350	239	205	289
Consolidated Net Income / (Loss)	147	170	280	323	171	185	277	350	239	205	289
Net Income / (Loss) Continuing Operations	147	170	280	323	171	185	277	350	239	205	289
Total Pre-Tax Income	178	214	357	407	218	242	361	453	303	270	376
Total Operating Income	261	295	432	478	299	326	449	543	400	371	489
Total Gross Profit	498	545	678	731	560	595	722	827	682	674	796
Total Revenue	931	938	1,097	1,167	1,032	1,011	1,149	1,323	1,201	1,142	1,276
Operating Revenue	931	938	1,097	1,167	1,032	1,011	1,149	1,323	1,201	1,142	1,276
Total Cost of Revenue	433	393	419	436	472	416	427	496	519	468	480
Operating Cost of Revenue	433	393	419	436	472	416	427	496	519	468	480
Total Operating Expenses	237	250	246	253	261	269	273	284	282	303	307
Depreciation Expense	164	172	174	177	181	188	193	200	207	216	221
Other Operating Expenses / (Income)	73	78	72	76	80	81	80	84	75	87	86
Total Other Income / (Expense), net	-83	-81	-75	-71	-81	-84	-88	-90	-97	-101	-113
Interest Expense	116	115	110	117	118	124	131	132	136	144	151
Interest & Investment Income	13	14	15	23	21	24	25	22	23	22	22
Other Income / (Expense), net	20	20	20	23	16	16	18	20	16	21	16
Income Tax Expense	31	44	77	84	47	57	84	103	64	65	87
Basic Earnings per Share	$0.81	$0.91	$1.44	$1.66	$0.89	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48
Weighted Average Basic Shares Outstanding	182M	186M	195M	195M	193M	195M	195M	195M	195M	195M	195M
Diluted Earnings per Share	$0.81	$0.91	$1.44	$1.66	$0.89	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48
Weighted Average Diluted Shares Outstanding	182M	186M	195M	195M	193M	195M	195M	195M	195M	195M	195M
Weighted Average Basic & Diluted Shares Outstanding	181.86M	194.64M	194.67M	194.70M	194.76M	194.82M	194.86M	194.89M	194.95M	195.01M	195.10M
Cash Dividends to Common per Share	-	-	$0.71	$0.71	-	-	$0.77	$0.77	-	-	$0.83

This table details how cash moves in and out of American Water Works' 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	-4.00	26	27	-16	76	-68	485	-440	-19	247	-224
Net Cash From Operating Activities	1,097	1,195	1,289	1,449	1,386	1,383	1,426	1,441	1,108	1,874	2,045
Net Cash From Continuing Operating Activities	1,097	1,195	1,289	1,449	1,386	1,349	1,426	1,441	1,108	1,874	2,045
Net Income / (Loss) Continuing Operations	423	476	468	426	565	621	709	1,263	820	944	1,051
Consolidated Net Income / (Loss)	423	476	468	426	565	621	709	1,263	820	944	1,051
Depreciation Expense	424	440	470	492	545	582	604	636	649	704	788
Non-Cash Adjustments To Reconcile Net Income	-7.00	-20	47	-54	51	-27	0.00	-774	-35	-9.00	62
Changes in Operating Assets and Liabilities, net	257	299	304	585	225	173	113	316	-326	235	144
Net Cash From Investing Activities	-1,014	-1,459	-1,590	-1,672	-2,036	-1,945	-2,061	-1,536	-2,127	-2,815	-3,379
Net Cash From Continuing Investing Activities	-1,014	-1,459	-1,590	-1,672	-2,036	-1,945	-2,061	-1,536	-2,127	-2,815	-3,379
Purchase of Property, Plant & Equipment	-956	-1,160	-1,311	-1,434	-1,586	-1,654	-1,822	-1,764	-2,297	-2,575	-2,856
Acquisitions	-9.00	-197	-204	-177	-398	-235	-135	-135	-315	-81	-417
Purchase of Investments	-	-	-	-	-	-	-	-	0.00	0.00	-135
Sale of Property, Plant & Equipment	14	5.00	9.00	15	35	48	2.00	472	608	0.00	0.00
Sale and/or Maturity of Investments	-	-	-	-	-	-	-	-	0.00	0.00	181
Other Investing Activities, net	-63	-107	-84	-76	-87	-104	-106	-109	-123	-159	-152
Net Cash From Financing Activities	-87	290	328	207	726	494	1,120	-345	1,000	1,188	1,110
Net Cash From Continuing Financing Activities	-87	290	328	207	726	479	1,120	-345	1,000	1,188	1,110
Repayment of Debt	-460	7.00	88	-943	-548	-510	-353	-597	571	-1,292	219
Payment of Dividends	-216	-239	-261	-289	-319	-353	-389	-428	-467	-532	-585
Issuance of Debt	562	625	553	1,450	1,439	1,352	1,834	618	822	1,264	1,437
Issuance of Common Equity	21	39	13	15	199	-	-	0.00	0.00	1,688	0.00
Other Financing Activities, net	6.00	-16	-	28	0.00	26	28	62	74	60	39
Cash Interest Paid	301	309	327	338	332	383	382	389	414	445	483
Cash Income Taxes Paid	16	12	16	30	38	12	7.00	1.00	335	0.00	-5.00

This table details how cash moves in and out of American Water Works' 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	13	125	582	-163	-297	262	-528	79	-37	17	-22
Net Cash From Operating Activities	344	285	429	633	527	382	345	679	639	331	301
Net Cash From Continuing Operating Activities	344	285	429	633	527	382	345	679	639	331	301
Net Income / (Loss) Continuing Operations	147	170	280	323	171	185	277	350	239	205	289
Consolidated Net Income / (Loss)	147	170	280	323	171	185	277	350	239	205	289
Depreciation Expense	164	172	174	177	181	188	193	200	207	216	221
Non-Cash Adjustments To Reconcile Net Income	56	-32	-2.00	21	4.00	9.00	-29	48	34	-13	-6.00
Changes in Operating Assets and Liabilities, net	-23	-25	-23	112	171	0.00	-96	81	159	-77	-203
Net Cash From Investing Activities	-765	-561	-703	-664	-887	-733	-738	-688	-1,220	-568	-772
Net Cash From Continuing Investing Activities	-765	-561	-703	-664	-887	-733	-738	-688	-1,220	-568	-772
Purchase of Property, Plant & Equipment	-700	-526	-627	-626	-796	-609	-670	-683	-894	-548	-733
Acquisitions	-27	-4.00	-29	-3.00	-45	-86	-33	-	-298	-3.00	-10
Purchase of Investments	-	-	-	-	-	0.00	-	-	-22	-27	-8.00
Sale and/or Maturity of Investments	-	-	-	-	-	0.00	-	-	34	39	21
Other Investing Activities, net	-38	-31	-47	-35	-46	-38	-35	-39	-40	-29	-42
Net Cash From Financing Activities	434	401	856	-132	63	613	-135	88	544	254	449
Net Cash From Continuing Financing Activities	434	401	856	-132	63	613	-135	88	544	254	449
Repayment of Debt	543	-1,186	-176	-92	162	-643	-13	209	666	-420	523
Payment of Dividends	-119	-119	-138	-138	-137	-138	-149	-149	-149	-149	-162
Issuance of Debt	-	8.00	1,152	86	18	1,391	12	13	21	810	66
Other Financing Activities, net	10	10	18	12	20	3.00	15	15	6.00	13	22

This table presents American Water Works' 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	16,038	17,241	18,482	19,482	21,223	22,682	24,766	26,075	27,787	30,298	32,830
Total Current Assets	575	657	784	720	781	1,285	1,906	1,554	1,250	1,389	1,215
Cash & Equivalents	23	45	75	55	130	60	547	116	85	330	96
Restricted Cash	14	21	20	27	28	31	29	20	32	34	29
Accounts Receivable	453	522	532	484	487	466	527	519	609	641	731
Inventories, net	37	38	39	41	41	44	47	57	98	112	103
Current Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	4.00	114	86	25
Other Current Assets	48	31	118	113	95	118	127	155	312	186	231
Plant, Property, & Equipment, net	13,029	13,933	14,992	16,246	17,409	18,232	19,710	21,084	23,223	25,438	28,038
Plant, Property & Equipment, gross	17,269	18,504	19,954	21,716	23,204	23,941	25,614	27,413	29,736	32,189	35,059
Accumulated Depreciation	4,240	4,571	4,962	5,470	5,795	5,709	5,904	6,329	6,513	6,751	7,021
Total Noncurrent Assets	2,434	2,651	2,706	2,516	3,033	3,165	3,150	3,437	3,314	3,471	3,577
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	0.00	-	720	720	795
Goodwill	1,208	1,302	1,345	1,379	1,575	1,501	1,504	1,139	1,143	1,143	1,144
Other Noncurrent Operating Assets	1,226	1,349	1,361	1,128	1,219	1,335	1,323	1,385	1,369	1,522	1,549
Other Noncurrent Nonoperating Assets	-	-	-	-	-	103	95	720	82	86	89
Total Liabilities & Shareholders' Equity	16,038	17,241	18,482	19,482	21,223	22,682	24,766	26,075	27,787	30,298	32,830
Total Liabilities	11,108	12,180	13,254	14,089	15,352	16,556	18,308	18,774	20,091	20,498	22,495
Total Current Liabilities	1,241	1,533	2,392	2,325	2,094	2,045	2,881	2,141	2,811	2,151	3,150
Short-Term Debt	511	682	1,423	1,227	1,035	814	1,611	641	1,456	654	1,516
Accounts Payable	100	126	154	195	175	203	189	235	254	294	346
Accrued Expenses	395	493	609	630	556	596	591	701	706	791	791
Current Deferred & Payable Income Tax Liabilities	25	26	31	33	45	46	50	176	49	67	156
Other Current Liabilities	153	144	112	167	196	174	215	217	255	252	230
Other Current Nonoperating Liabilities	57	62	63	73	87	212	225	171	91	93	111
Total Noncurrent Liabilities	9,867	10,647	10,862	11,764	13,258	14,511	15,427	16,633	17,280	18,347	19,345
Long-Term Debt	5,427	5,862	5,749	6,490	7,569	8,639	9,329	10,341	10,926	11,715	12,518
Capital Lease Obligations	-	-	-	-	-	-	81	80	70	73	76
Asset Retirement Reserve & Litigation Obligation	392	402	403	1,664	-	-	1,770	1,600	1,590	1,481	1,416
Noncurrent Deferred Revenue	368	349	300	271	252	240	270	284	316	352	383
Noncurrent Deferred & Payable Income Tax Liabilities	2,059	2,334	2,619	1,573	1,740	1,893	2,113	2,421	2,437	2,717	2,881
Noncurrent Employee Benefit Liabilities	509	511	506	424	390	411	388	285	235	262	217
Other Noncurrent Operating Liabilities	1,112	1,189	1,285	1,342	3,307	3,328	1,476	1,622	1,706	1,747	1,854
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	4,915	5,049	5,218	5,385	5,864	6,121	6,454	7,298	7,693	9,797	10,332
Total Preferred & Common Equity	4,915	5,049	5,218	5,385	5,864	6,121	6,454	7,298	7,693	9,797	10,332
Preferred Stock	-	-	-	-	-	5.00	4.00	-	3.00	3.00	3.00
Total Common Equity	4,915	5,049	5,218	5,385	5,864	6,121	6,454	7,298	7,693	9,797	10,332
Common Stock	6,304	6,353	6,390	6,434	6,659	6,702	6,749	6,783	6,826	8,552	8,600
Retained Earnings	-1,296	-1,073	-873	-723	-464	-207	102	925	1,267	1,659	2,112
Treasury Stock	-11	-143	-213	-247	-297	-338	-348	-365	-377	-388	-392
Accumulated Other Comprehensive Income / (Loss)	-82	-88	-86	-79	-34	-36	-49	-45	-23	-26	12

This table presents American Water Works' assets and liabilities at the end of each period, using quarterly balance sheet 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
Total Assets	27,787	28,286	29,496	29,818	30,298	31,086	31,215	31,790	32,830	33,156	33,913
Total Current Assets	1,250	1,338	1,989	1,804	1,389	1,587	1,165	1,237	1,215	1,194	1,399
Cash & Equivalents	85	213	794	628	330	584	48	127	96	114	94
Restricted Cash	32	29	30	33	34	42	50	40	29	18	17
Accounts Receivable	609	607	683	700	641	639	730	763	731	712	858
Inventories, net	98	103	109	111	112	115	111	105	103	107	109
Current Deferred & Refundable Income Taxes	114	96	74	54	86	26	17	7.00	25	23	25
Other Current Assets	312	290	299	278	186	181	209	195	231	220	296
Plant, Property, & Equipment, net	23,223	23,632	24,188	24,688	25,438	26,023	26,532	27,007	28,038	28,377	28,932
Plant, Property & Equipment, gross	29,736	30,214	30,815	31,397	32,189	32,780	33,364	33,940	35,059	35,466	36,137
Accumulated Depreciation	6,513	6,582	6,627	6,709	6,751	6,757	6,832	6,933	7,021	7,089	7,205
Total Noncurrent Assets	3,314	3,316	3,319	3,326	3,471	3,476	3,518	3,546	3,577	3,585	3,582
Noncurrent Note & Lease Receivables	720	720	720	720	720	795	795	795	795	795	795
Goodwill	1,143	1,143	1,143	1,143	1,143	1,143	1,143	1,143	1,144	1,144	1,151
Other Noncurrent Operating Assets	1,369	1,453	1,373	1,377	1,522	1,448	1,490	1,519	1,549	1,559	1,547
Other Noncurrent Nonoperating Assets	82	-	83	86	86	90	90	89	89	87	89
Total Liabilities & Shareholders' Equity	27,787	28,286	29,496	29,818	30,298	31,086	31,215	31,790	32,830	33,156	33,913
Total Liabilities	20,091	18,737	19,793	19,918	20,498	21,076	21,060	21,425	22,495	22,619	23,228
Total Current Liabilities	2,811	1,892	1,764	1,743	2,151	1,857	1,825	2,132	3,150	2,447	3,991
Short-Term Debt	1,456	727	579	492	654	557	575	800	1,516	1,113	2,708
Accounts Payable	254	193	246	228	294	231	215	259	346	240	306
Accrued Expenses	706	561	575	605	791	636	607	585	791	539	569
Current Deferred & Payable Income Tax Liabilities	49	74	65	82	67	89	108	174	156	228	107
Other Current Liabilities	255	223	208	212	252	213	207	185	230	196	182
Other Current Nonoperating Liabilities	91	114	91	124	93	131	113	129	111	131	119
Total Noncurrent Liabilities	17,280	16,845	18,029	18,175	18,347	19,219	19,235	19,293	19,345	20,172	19,237
Long-Term Debt	10,926	10,485	11,607	11,698	11,715	12,566	12,553	12,550	12,518	13,318	12,278
Capital Lease Obligations	70	70	70	74	73	78	78	77	76	75	77
Asset Retirement Reserve & Litigation Obligation	1,590	1,568	1,524	1,478	1,481	1,460	1,434	1,403	1,416	1,400	1,420
Noncurrent Deferred Revenue	316	321	333	340	352	367	379	379	383	396	410
Noncurrent Deferred & Payable Income Tax Liabilities	2,437	2,483	2,549	2,632	2,717	2,742	2,780	2,833	2,881	2,936	2,990
Noncurrent Employee Benefit Liabilities	235	215	209	201	262	256	251	243	217	212	207
Other Noncurrent Operating Liabilities	1,706	1,703	1,737	1,752	1,747	1,750	1,760	1,808	1,854	1,835	1,855
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	7,693	9,547	9,701	9,897	9,797	10,007	10,152	10,362	10,332	10,534	10,682
Total Preferred & Common Equity	7,693	9,547	9,701	9,897	9,797	10,007	10,152	10,362	10,332	10,534	10,682
Preferred Stock	3.00	-	2.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00
Total Common Equity	7,693	9,547	9,701	9,897	9,797	10,007	10,152	10,362	10,332	10,534	10,682
Common Stock	6,826	8,521	8,531	8,543	8,552	8,563	8,580	8,590	8,600	8,613	8,623
Retained Earnings	1,267	1,437	1,580	1,764	1,659	1,844	1,971	2,172	2,112	2,317	2,445
Treasury Stock	-377	-388	-388	-388	-388	-392	-392	-392	-392	-398	-391
Accumulated Other Comprehensive Income / (Loss)	-23	-23	-22	-22	-26	-8.00	-7.00	-8.00	12	2.00	5.00

This table displays calculated financial ratios and metrics derived from American Water Works' 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	4.58%	4.92%	4.53%	1.67%	2.47%	4.94%	4.63%	4.05%	-3.51%	11.66%	10.63%
EBITDA Growth	5.06%	6.77%	2.29%	12.01%	-4.05%	6.84%	7.01%	39.11%	-23.81%	12.22%	12.64%
EBIT Growth	5.43%	8.03%	0.46%	15.16%	-9.83%	6.86%	8.56%	54.59%	-31.88%	13.97%	12.95%
NOPAT Growth	5.01%	7.72%	0.78%	-11.25%	35.17%	14.40%	5.81%	-3.82%	12.43%	14.63%	11.92%
Net Income Growth	14.63%	12.53%	-1.68%	-8.97%	32.63%	9.91%	14.17%	78.14%	-35.08%	15.12%	11.33%
EPS Growth	14.08%	12.34%	-0.76%	-9.16%	32.35%	8.89%	13.99%	77.75%	-35.11%	8.65%	10.00%
Operating Cash Flow Growth	22.43%	8.93%	7.87%	12.41%	-4.35%	-0.22%	3.11%	1.05%	-23.11%	69.13%	9.12%
Free Cash Flow Firm Growth	-97.33%	-118.70%	-83.36%	-37.35%	-246.51%	154.32%	-249.40%	179.46%	-708.80%	67.26%	-71.51%
Invested Capital Growth	2.77%	6.55%	6.61%	5.93%	9.95%	4.35%	9.13%	3.60%	17.92%	9.21%	11.23%
Revenue Q/Q Growth	1.16%	1.67%	0.58%	0.57%	0.85%	1.46%	0.56%	0.72%	-0.52%	2.44%	3.74%
EBITDA Q/Q Growth	0.53%	1.25%	1.16%	1.74%	0.18%	-0.88%	2.51%	36.83%	-25.78%	2.28%	5.19%
EBIT Q/Q Growth	0.65%	1.01%	1.01%	2.94%	-2.07%	-2.17%	3.61%	53.77%	-33.89%	2.20%	5.99%
NOPAT Q/Q Growth	1.48%	0.72%	1.35%	-20.64%	26.15%	3.49%	1.48%	-9.68%	9.95%	1.75%	6.49%
Net Income Q/Q Growth	8.73%	1.19%	0.43%	-19.32%	25.00%	-2.20%	7.10%	65.53%	-37.78%	2.61%	6.92%
EPS Q/Q Growth	8.29%	1.93%	0.00%	-19.05%	24.02%	-2.00%	7.12%	65.48%	-37.79%	1.66%	6.52%
Operating Cash Flow Q/Q Growth	4.72%	7.39%	0.39%	6.23%	-2.46%	3.29%	0.00%	-1.77%	-5.78%	10.82%	5.79%
Free Cash Flow Firm Q/Q Growth	102.12%	-100.39%	-364.58%	-32.50%	20.00%	245.19%	-2,324.89%	416.77%	-53.96%	15.03%	-28.76%
Invested Capital Q/Q Growth	-57.77%	0.77%	2.03%	1.00%	1.17%	-1.78%	1.08%	-2.06%	2.24%	1.60%	2.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.16%	55.56%	54.60%	59.22%	57.01%	57.23%	57.06%	54.78%	58.10%	59.38%	60.33%
EBITDA Margin	47.59%	48.43%	47.40%	52.22%	48.90%	49.78%	50.91%	68.07%	53.74%	54.02%	55.00%
Operating Margin	33.31%	34.03%	32.86%	37.33%	32.03%	33.63%	33.04%	30.43%	33.57%	35.52%	36.68%
EBIT Margin	33.51%	34.50%	33.16%	37.56%	33.05%	33.66%	34.92%	51.88%	36.63%	37.39%	38.17%
Profit (Net Income) Margin	14.05%	15.07%	14.17%	12.69%	16.42%	17.20%	18.77%	32.14%	21.62%	22.30%	22.44%
Tax Burden Percent	59.58%	60.87%	60.78%	46.71%	71.79%	74.55%	76.73%	77.01%	81.35%	78.93%	77.34%
Interest Burden Percent	70.37%	71.74%	70.32%	72.32%	69.22%	68.56%	70.05%	80.43%	72.57%	75.55%	76.01%
Effective Tax Rate	39.44%	39.13%	39.22%	53.29%	28.21%	25.45%	23.27%	22.99%	18.65%	21.07%	22.66%
Return on Invested Capital (ROIC)	5.66%	5.82%	5.50%	4.60%	5.75%	6.15%	6.09%	5.52%	5.59%	5.66%	5.75%
ROIC Less NNEP Spread (ROIC-NNEP)	2.53%	2.97%	2.71%	2.45%	2.97%	2.89%	3.46%	9.00%	3.64%	3.67%	3.62%
Return on Net Nonoperating Assets (RNNOA)	3.09%	3.72%	3.61%	3.44%	4.29%	4.21%	5.18%	12.85%	5.35%	5.13%	4.69%
Return on Equity (ROE)	8.74%	9.54%	9.12%	8.04%	10.05%	10.36%	11.28%	18.37%	10.94%	10.79%	10.44%
Cash Return on Invested Capital (CROIC)	2.92%	-0.52%	-0.90%	-1.16%	-3.72%	1.89%	-2.64%	1.98%	-10.85%	-3.14%	-4.88%
Operating Return on Assets (OROA)	6.48%	6.55%	6.13%	6.64%	5.59%	5.53%	5.56%	8.02%	5.16%	5.45%	5.66%
Return on Assets (ROA)	2.72%	2.86%	2.62%	2.24%	2.78%	2.83%	2.99%	4.97%	3.04%	3.25%	3.33%
Return on Common Equity (ROCE)	8.72%	9.53%	9.12%	8.04%	10.05%	10.36%	11.28%	18.37%	10.94%	10.79%	10.44%
Return on Equity Simple (ROE_SIMPLE)	8.61%	9.43%	8.97%	7.91%	9.64%	10.15%	10.99%	17.31%	10.66%	9.64%	10.17%
Net Operating Profit after Tax (NOPAT)	607	654	659	585	791	905	958	921	1,036	1,187	1,329
NOPAT Margin	20.17%	20.71%	19.97%	17.43%	23.00%	25.07%	25.35%	23.44%	27.31%	28.04%	28.37%
Net Nonoperating Expense Percent (NNEP)	3.12%	2.85%	2.79%	2.14%	2.78%	3.26%	2.64%	-3.48%	1.96%	1.99%	2.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	5.14%	5.34%	5.44%
Cost of Revenue to Revenue	44.84%	44.44%	45.40%	40.78%	42.99%	42.77%	42.94%	45.22%	41.90%	40.62%	39.67%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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	21.85%	21.53%	21.74%	21.89%	24.97%	23.60%	24.01%	24.35%	24.53%	23.85%	23.66%
Earnings before Interest and Taxes (EBIT)	1,009	1,090	1,095	1,261	1,137	1,215	1,319	2,039	1,389	1,583	1,788
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,433	1,530	1,565	1,753	1,682	1,797	1,923	2,675	2,038	2,287	2,576
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.61	1.80	2.14	2.68	2.53	3.34	4.03	4.45	3.43	2.55	2.33
Price to Tangible Book Value (P/TBV)	2.14	2.43	2.88	3.61	3.58	4.49	5.31	5.28	4.03	2.89	2.62
Price to Revenue (P/Rev)	2.63	2.88	3.38	4.30	4.31	5.66	6.88	8.27	6.96	5.90	5.15
Price to Earnings (P/E)	18.73	19.14	23.86	33.89	26.12	32.90	36.66	25.72	32.20	26.45	22.94
Dividend Yield	2.74%	2.62%	2.34%	2.00%	2.17%	1.73%	1.50%	1.32%	1.77%	2.17%	2.43%
Earnings Yield	5.34%	5.22%	4.19%	2.95%	3.83%	3.04%	2.73%	3.89%	3.11%	3.78%	4.36%
Enterprise Value to Invested Capital (EV/IC)	1.27	1.34	1.48	1.68	1.61	1.98	2.22	2.55	1.93	1.69	1.57
Enterprise Value to Revenue (EV/Rev)	4.60	4.94	5.53	6.58	6.76	8.25	9.65	11.05	10.22	8.75	8.13
Enterprise Value to EBITDA (EV/EBITDA)	9.66	10.19	11.66	12.59	13.83	16.58	18.95	16.23	19.01	16.20	14.79
Enterprise Value to EBIT (EV/EBIT)	13.72	14.30	16.66	17.50	20.45	24.52	27.63	21.29	27.89	23.41	21.31
Enterprise Value to NOPAT (EV/NOPAT)	22.78	23.83	27.67	37.71	29.40	32.92	38.05	47.14	37.41	31.21	28.68
Enterprise Value to Operating Cash Flow (EV/OCF)	12.62	13.05	14.15	15.23	16.78	21.54	25.55	30.13	34.97	19.77	18.63
Enterprise Value to Free Cash Flow (EV/FCFF)	44.12	0.00	0.00	0.00	0.00	107.16	0.00	131.54	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.20	1.30	1.37	1.43	1.47	1.54	1.71	1.52	1.62	1.27	1.37
Long-Term Debt to Equity	1.10	1.16	1.10	1.21	1.29	1.41	1.46	1.43	1.43	1.20	1.22
Financial Leverage	1.22	1.25	1.33	1.40	1.45	1.46	1.50	1.43	1.47	1.40	1.30
Leverage Ratio	3.22	3.33	3.48	3.58	3.62	3.66	3.77	3.70	3.59	3.32	3.14
Compound Leverage Factor	2.26	2.39	2.45	2.59	2.50	2.51	2.64	2.97	2.61	2.51	2.38
Debt to Total Capital	54.64%	56.45%	57.89%	58.90%	59.47%	60.70%	63.07%	60.25%	61.81%	55.95%	57.73%
Short-Term Debt to Total Capital	4.70%	5.88%	11.49%	9.37%	7.15%	5.23%	9.22%	3.49%	7.23%	2.94%	6.20%
Long-Term Debt to Total Capital	49.94%	50.57%	46.40%	49.53%	52.32%	55.47%	53.85%	56.76%	54.58%	53.01%	51.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.02%	0.00%	0.01%	0.01%	0.01%
Noncontrolling Interests to Total Capital	0.14%	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	45.22%	43.55%	42.11%	41.10%	40.53%	39.30%	36.93%	39.75%	38.19%	44.05%	42.27%
Debt to EBITDA	4.14	4.28	4.58	4.40	5.12	5.26	5.73	4.14	6.11	5.44	5.48
Net Debt to EBITDA	4.12	4.23	4.52	4.36	5.02	5.21	5.43	4.08	6.05	5.28	5.43
Long-Term Debt to EBITDA	3.79	3.83	3.67	3.70	4.50	4.81	4.89	3.90	5.40	5.15	4.89
Debt to NOPAT	9.78	10.00	10.88	13.19	10.88	10.44	11.51	12.01	12.02	10.48	10.62
Net Debt to NOPAT	9.71	9.90	10.73	13.05	10.68	10.34	10.91	11.86	11.91	10.17	10.53
Long-Term Debt to NOPAT	8.93	8.96	8.72	11.09	9.57	9.55	9.83	11.31	10.62	9.93	9.48
Altman Z-Score	0.66	0.69	0.71	0.85	0.81	1.02	1.14	1.47	1.09	1.09	0.98
Noncontrolling Interest Sharing Ratio	0.33%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.46	0.43	0.33	0.31	0.37	0.63	0.66	0.73	0.44	0.65	0.39
Quick Ratio	0.38	0.37	0.25	0.23	0.29	0.26	0.37	0.30	0.25	0.45	0.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	314	-59	-108	-148	-512	278	-415	330	-2,009	-658	-1,128
Operating Cash Flow to CapEx	116.45%	103.46%	99.00%	102.11%	89.36%	86.11%	78.35%	111.53%	65.60%	72.78%	71.60%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-21.10	0.00	0.72	-1.05	0.82	-4.64	-1.43	-2.16
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	207.00	0.00	3.58	3.59	3.58	2.56	4.07	3.91
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	4.29	0.00	-0.58	-0.99	0.37	-1.34	-1.52	-1.55
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.19	0.19	0.18	0.18	0.17	0.16	0.16	0.15	0.14	0.15	0.15
Accounts Receivable Turnover	6.61	6.48	6.27	6.61	7.09	7.58	7.61	7.51	6.72	6.77	6.83
Inventory Turnover	38.59	37.44	38.94	34.23	36.07	36.33	35.65	34.17	20.50	16.38	17.28
Fixed Asset Turnover	0.24	0.23	0.23	0.21	0.20	0.20	0.20	0.19	0.17	0.17	0.18
Accounts Payable Turnover	7.42	12.42	10.71	7.85	7.99	8.17	8.28	8.38	6.50	6.28	5.81
Days Sales Outstanding (DSO)	55.20	56.33	58.25	55.23	51.51	48.18	47.98	48.57	54.29	53.88	53.46
Days Inventory Outstanding (DIO)	9.46	9.75	9.37	10.66	10.12	10.05	10.24	10.68	17.80	22.28	21.12
Days Payable Outstanding (DPO)	49.22	29.38	34.09	46.52	45.66	44.68	44.11	43.55	56.16	58.15	62.86
Cash Conversion Cycle (CCC)	15.43	36.70	33.54	19.37	15.98	13.55	14.11	15.71	15.93	18.02	11.71
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,888	11,601	12,368	13,101	14,404	15,031	16,404	16,995	20,040	21,885	24,342
Invested Capital Turnover	0.28	0.28	0.28	0.26	0.25	0.25	0.24	0.24	0.20	0.20	0.20
Increase / (Decrease) in Invested Capital	294	713	767	733	1,303	627	1,373	591	3,045	1,845	2,457
Enterprise Value (EV)	13,840	15,590	18,245	22,073	23,257	29,795	36,439	43,416	38,742	37,053	38,101
Market Capitalization	7,924	9,112	11,168	14,438	14,811	20,428	25,990	32,490	26,404	24,972	24,113
Book Value per Share	$27.41	$28.13	$29.31	$30.19	$32.47	$33.86	$35.60	$40.20	$42.31	$50.32	$53.01
Tangible Book Value per Share	$20.67	$20.88	$21.76	$22.41	$22.89	$25.19	$27.00	$33.93	$36.02	$44.45	$47.14
Total Capital	10,868	11,593	12,390	13,102	14,468	15,574	17,475	18,360	20,145	22,239	24,442
Total Debt	5,938	6,544	7,172	7,717	8,604	9,453	11,021	11,062	12,452	12,442	14,110
Total Long-Term Debt	5,427	5,862	5,749	6,490	7,569	8,639	9,410	10,421	10,996	11,788	12,594
Net Debt	5,901	6,478	7,077	7,635	8,446	9,362	10,445	10,926	12,335	12,078	13,985
Capital Expenditures (CapEx)	942	1,155	1,302	1,419	1,551	1,606	1,820	1,292	1,689	2,575	2,856
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-192	-260	-280	-460	-436	-37	60	-82	-222	-472	-544
Debt-free Net Working Capital (DFNWC)	-155	-194	-185	-378	-278	54	636	54	-105	-108	-419
Net Working Capital (NWC)	-666	-876	-1,608	-1,605	-1,313	-760	-975	-587	-1,561	-762	-1,935
Net Nonoperating Expense (NNE)	184	178	191	159	226	284	249	-342	216	243	278
Net Nonoperating Obligations (NNO)	5,958	6,552	7,150	7,716	8,540	8,910	9,950	9,697	12,347	12,088	14,010
Total Depreciation and Amortization (D&A)	424	440	470	492	545	582	604	636	649	704	788
Debt-free, Cash-free Net Working Capital to Revenue	-6.38%	-8.23%	-8.48%	-13.70%	-12.67%	-1.02%	1.59%	-2.09%	-5.85%	-11.15%	-11.61%
Debt-free Net Working Capital to Revenue	-5.15%	-6.14%	-5.60%	-11.26%	-8.08%	1.50%	16.84%	1.37%	-2.77%	-2.55%	-8.95%
Net Working Capital to Revenue	-22.12%	-27.73%	-48.70%	-47.81%	-38.17%	-21.05%	-25.81%	-14.94%	-41.17%	-18.00%	-41.31%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.36	$2.66	$2.63	$2.39	$3.16	$3.44	$3.91	$6.96	$4.51	$4.90	$5.39
Adjusted Weighted Average Basic Shares Outstanding	178.89M	179M	178M	178M	180M	181M	181M	182M	182M	193M	195M
Adjusted Diluted Earnings per Share	$2.35	$2.64	$2.62	$2.38	$3.15	$3.43	$3.91	$6.95	$4.51	$4.90	$5.39
Adjusted Weighted Average Diluted Shares Outstanding	179.81M	180M	179M	179M	180M	181M	182M	182M	182M	193M	195M
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	179.79M	178.01M	178.21M	178.55M	180.75M	180.97M	181.44M	181.72M	181.86M	194.76M	194.95M
Normalized Net Operating Profit after Tax (NOPAT)	606	653	653	866	818	905	958	921	1,036	1,187	1,329
Normalized NOPAT Margin	20.13%	20.66%	19.79%	25.79%	23.77%	25.07%	25.35%	23.44%	27.31%	28.04%	28.37%
Pre Tax Income Margin	23.58%	24.75%	23.32%	27.17%	22.88%	23.07%	24.46%	41.73%	26.58%	28.25%	29.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	180.14	0.00	3.15	3.32	5.06	3.21	3.44	3.42
NOPAT to Interest Expense	0.00	0.00	0.00	83.61	0.00	2.34	2.41	2.29	2.39	2.58	2.54
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-22.57	0.00	-1.01	-1.26	1.85	-0.69	-2.16	-2.04
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-119.10	0.00	-1.82	-2.17	-0.92	-1.51	-3.02	-2.92
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	51.06%	50.21%	55.77%	67.84%	56.46%	56.84%	54.87%	33.89%	56.95%	56.36%	55.66%
Augmented Payout Ratio	51.06%	76.68%	69.66%	80.52%	64.42%	62.64%	54.87%	33.89%	56.95%	56.36%	55.66%

This table displays calculated financial ratios and metrics derived from American Water Works' 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	-2.10%	11.40%	17.08%	7.86%	10.85%	7.78%	4.74%	13.37%	16.38%	12.96%	11.05%
EBITDA Growth	-61.41%	11.19%	18.79%	7.96%	11.46%	8.83%	5.43%	12.54%	25.60%	14.72%	10.00%
EBIT Growth	-71.70%	12.50%	24.18%	7.97%	12.10%	8.57%	3.32%	12.38%	32.06%	14.62%	8.14%
NOPAT Growth	35.80%	16.37%	28.33%	6.78%	8.81%	6.34%	1.68%	10.59%	34.53%	13.03%	9.09%
Net Income Growth	-77.21%	7.59%	28.44%	8.75%	16.33%	8.82%	-1.07%	8.36%	39.77%	10.81%	4.33%
EPS Growth	-77.18%	4.60%	20.00%	1.84%	9.88%	4.40%	-1.39%	8.43%	37.08%	10.53%	4.23%
Operating Cash Flow Growth	-16.50%	85.06%	921.43%	11.44%	53.20%	34.04%	-19.58%	7.27%	21.25%	-13.35%	-12.75%
Free Cash Flow Firm Growth	-554.55%	-87.88%	10.89%	17.45%	43.08%	26.83%	-10.60%	-9.14%	-32.97%	-22.32%	-11.49%
Invested Capital Growth	17.92%	13.87%	10.25%	9.90%	9.21%	9.29%	10.14%	9.86%	11.23%	10.29%	10.23%
Revenue Q/Q Growth	-13.96%	0.75%	16.95%	6.38%	-11.57%	-2.03%	13.65%	15.14%	-9.22%	-4.91%	11.73%
EBITDA Q/Q Growth	-29.14%	9.44%	28.54%	8.31%	-26.84%	6.85%	24.53%	15.61%	-18.35%	-2.41%	19.41%
EBIT Q/Q Growth	-39.44%	12.10%	43.49%	10.84%	-37.13%	8.57%	36.55%	20.56%	-26.11%	-5.77%	28.83%
NOPAT Q/Q Growth	-39.33%	8.72%	44.58%	11.96%	-38.17%	6.26%	38.24%	21.77%	-24.80%	-10.72%	33.43%
Net Income Q/Q Growth	-50.51%	15.65%	64.71%	15.36%	-47.06%	8.19%	49.73%	26.35%	-31.71%	-14.23%	40.98%
EPS Q/Q Growth	-50.31%	12.35%	58.24%	15.28%	-46.39%	6.74%	49.47%	26.76%	-32.22%	-13.93%	40.95%
Operating Cash Flow Q/Q Growth	-39.44%	-17.15%	50.53%	47.55%	-16.75%	-27.51%	-9.69%	96.81%	-5.89%	-48.20%	-9.06%
Free Cash Flow Firm Q/Q Growth	-49.57%	19.15%	28.92%	3.97%	-3.13%	-3.93%	-7.45%	5.23%	-25.64%	4.40%	2.06%
Invested Capital Q/Q Growth	2.24%	3.31%	2.13%	1.88%	1.60%	3.39%	2.92%	1.63%	2.86%	2.52%	2.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.49%	58.10%	61.80%	62.64%	54.26%	58.85%	62.84%	62.51%	56.79%	59.02%	62.38%
EBITDA Margin	47.80%	51.92%	57.06%	58.10%	48.06%	52.42%	57.44%	57.67%	51.87%	53.24%	56.90%
Operating Margin	28.03%	31.45%	39.38%	40.96%	28.97%	32.25%	39.08%	41.04%	33.31%	32.49%	38.32%
EBIT Margin	30.18%	33.58%	41.20%	42.93%	30.52%	33.83%	40.64%	42.55%	34.64%	34.33%	39.58%
Profit (Net Income) Margin	15.79%	18.12%	25.52%	27.68%	16.57%	18.30%	24.11%	26.46%	19.90%	17.95%	22.65%
Tax Burden Percent	82.58%	79.44%	78.43%	79.36%	78.44%	76.45%	76.73%	77.26%	78.88%	75.93%	76.86%
Interest Burden Percent	63.35%	67.94%	78.98%	81.24%	69.21%	70.76%	77.30%	80.46%	72.84%	68.88%	74.46%
Effective Tax Rate	17.42%	20.56%	21.57%	20.64%	21.56%	23.55%	23.27%	22.74%	21.12%	24.07%	23.14%
Return on Invested Capital (ROIC)	4.74%	5.00%	6.20%	6.53%	4.59%	4.90%	5.88%	6.33%	5.32%	4.99%	5.95%
ROIC Less NNEP Spread (ROIC-NNEP)	4.12%	4.41%	5.69%	6.05%	4.07%	4.36%	5.33%	5.78%	4.74%	4.43%	5.33%
Return on Net Nonoperating Assets (RNNOA)	6.06%	5.67%	7.60%	8.05%	5.69%	5.30%	6.60%	7.11%	6.14%	5.83%	7.19%
Return on Equity (ROE)	10.80%	10.67%	13.80%	14.58%	10.28%	10.20%	12.49%	13.45%	11.47%	10.82%	13.14%
Cash Return on Invested Capital (CROIC)	-10.85%	-7.47%	-4.08%	-3.76%	-3.14%	-3.32%	-4.21%	-3.88%	-4.88%	-4.07%	-4.04%
Operating Return on Assets (OROA)	4.25%	4.84%	5.95%	6.23%	4.45%	4.91%	5.84%	6.24%	5.14%	5.15%	6.01%
Return on Assets (ROA)	2.22%	2.61%	3.69%	4.02%	2.42%	2.65%	3.46%	3.88%	2.95%	2.69%	3.44%
Return on Common Equity (ROCE)	10.80%	10.67%	13.80%	14.58%	10.28%	10.20%	12.49%	13.45%	11.47%	10.82%	13.14%
Return on Equity Simple (ROE_SIMPLE)	0.00%	8.71%	9.22%	9.30%	0.00%	9.58%	9.42%	9.49%	0.00%	10.17%	0.00%
Net Operating Profit after Tax (NOPAT)	216	234	339	379	235	249	345	420	316	282	376
NOPAT Margin	23.15%	24.98%	30.89%	32.51%	22.73%	24.65%	29.98%	31.71%	26.27%	24.67%	29.46%
Net Nonoperating Expense Percent (NNEP)	0.62%	0.59%	0.51%	0.48%	0.52%	0.54%	0.55%	0.56%	0.59%	0.57%	0.62%
Return On Investment Capital (ROIC_SIMPLE)	1.07%	-	-	-	1.05%	-	-	-	1.29%	1.12%	1.46%
Cost of Revenue to Revenue	46.51%	41.90%	38.20%	37.36%	45.74%	41.15%	37.16%	37.49%	43.21%	40.98%	37.62%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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	25.46%	26.65%	22.42%	21.68%	25.29%	26.61%	23.76%	21.47%	23.48%	26.53%	24.06%
Earnings before Interest and Taxes (EBIT)	281	315	452	501	315	342	467	563	416	392	505
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	445	487	626	678	496	530	660	763	623	608	726
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.43	2.70	2.79	2.38	2.55	2.35	2.47	2.75	2.33	2.73	2.54
Price to Tangible Book Value (P/TBV)	4.03	3.07	3.16	2.69	2.89	2.66	2.78	3.09	2.62	3.06	2.85
Price to Revenue (P/Rev)	6.96	6.63	6.68	5.70	5.90	5.46	5.74	6.31	5.15	5.97	5.49
Price to Earnings (P/E)	32.20	31.00	30.23	25.62	26.45	24.54	26.18	28.99	22.94	26.85	25.05
Dividend Yield	1.77%	1.85%	1.92%	2.25%	2.17%	2.34%	2.25%	2.01%	2.43%	2.07%	2.24%
Earnings Yield	3.11%	3.23%	3.31%	3.90%	3.78%	4.08%	3.82%	3.45%	4.36%	3.72%	3.99%
Enterprise Value to Invested Capital (EV/IC)	1.93	1.78	1.82	1.63	1.69	1.60	1.64	1.76	1.57	1.73	1.64
Enterprise Value to Revenue (EV/Rev)	10.22	9.47	9.50	8.51	8.75	8.38	8.75	9.25	8.13	8.96	8.52
Enterprise Value to EBITDA (EV/EBITDA)	19.01	17.65	17.60	15.73	16.20	15.50	16.13	17.05	14.79	16.25	15.47
Enterprise Value to EBIT (EV/EBIT)	27.89	25.87	25.44	22.71	23.41	22.43	23.47	24.75	21.31	23.47	22.43
Enterprise Value to NOPAT (EV/NOPAT)	37.41	34.46	33.65	30.15	31.21	30.03	31.57	33.47	28.68	31.69	30.22
Enterprise Value to Operating Cash Flow (EV/OCF)	34.97	29.73	23.66	20.80	19.77	18.32	20.21	21.60	18.63	21.63	21.58
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	1.62	1.18	1.26	1.24	1.27	1.32	1.30	1.30	1.37	1.38	1.41
Long-Term Debt to Equity	1.43	1.11	1.20	1.19	1.20	1.26	1.24	1.22	1.22	1.27	1.16
Financial Leverage	1.47	1.29	1.33	1.33	1.40	1.22	1.24	1.23	1.30	1.32	1.35
Leverage Ratio	3.59	3.17	3.25	3.23	3.32	3.04	3.06	3.04	3.14	3.13	3.13
Compound Leverage Factor	2.28	2.16	2.56	2.62	2.30	2.15	2.36	2.45	2.28	2.15	2.33
Debt to Total Capital	61.81%	54.16%	55.82%	55.34%	55.95%	56.88%	56.54%	56.44%	57.73%	57.93%	58.51%
Short-Term Debt to Total Capital	7.23%	3.49%	2.64%	2.22%	2.94%	2.40%	2.46%	3.36%	6.20%	4.44%	10.52%
Long-Term Debt to Total Capital	54.58%	50.67%	53.18%	53.12%	53.01%	54.48%	54.08%	53.08%	51.53%	53.49%	47.99%
Preferred Equity to Total Capital	0.01%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
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	38.19%	45.84%	44.18%	44.66%	44.05%	43.12%	43.46%	43.56%	42.27%	42.07%	41.49%
Debt to EBITDA	6.11	5.41	5.61	5.48	5.44	5.67	5.59	5.48	5.48	5.47	5.54
Net Debt to EBITDA	6.05	5.29	5.23	5.19	5.28	5.40	5.54	5.41	5.43	5.42	5.50
Long-Term Debt to EBITDA	5.40	5.06	5.34	5.26	5.15	5.43	5.34	5.16	4.89	5.05	4.54
Debt to NOPAT	12.02	10.55	10.72	10.51	10.48	10.98	10.93	10.76	10.62	10.66	10.82
Net Debt to NOPAT	11.91	10.33	10.00	9.95	10.17	10.46	10.85	10.63	10.53	10.56	10.74
Long-Term Debt to NOPAT	10.62	9.87	10.21	10.09	9.93	10.51	10.45	10.12	9.48	9.84	8.87
Altman Z-Score	0.95	1.05	1.09	0.99	0.95	0.92	0.97	1.06	0.85	1.00	0.90
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	0.44	0.71	1.13	1.04	0.65	0.85	0.64	0.58	0.39	0.49	0.35
Quick Ratio	0.25	0.43	0.84	0.76	0.45	0.66	0.43	0.42	0.26	0.34	0.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,829	-2,288	-1,626	-1,562	-1,610	-1,674	-1,798	-1,704	-2,141	-2,047	-2,005
Operating Cash Flow to CapEx	49.14%	54.18%	68.42%	101.12%	66.21%	62.73%	51.49%	99.41%	71.48%	60.40%	41.06%
Free Cash Flow to Firm to Interest Expense	-24.39	-19.89	-14.78	-13.35	-13.65	-13.50	-13.73	-12.91	-15.75	-14.22	-13.28
Operating Cash Flow to Interest Expense	2.97	2.48	3.90	5.41	4.47	3.08	2.63	5.14	4.70	2.30	1.99
Operating Cash Flow Less CapEx to Interest Expense	-3.07	-2.10	-1.80	0.06	-2.28	-1.83	-2.48	-0.03	-1.88	-1.51	-2.86
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.14	0.14	0.14	0.15	0.15	0.15	0.14	0.15	0.15	0.15	0.15
Accounts Receivable Turnover	6.72	6.90	6.00	6.21	6.77	6.91	6.17	6.17	6.83	7.13	6.22
Inventory Turnover	20.50	18.60	17.12	16.48	16.38	15.99	15.92	16.77	17.28	17.21	17.85
Fixed Asset Turnover	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.18	0.18	0.18
Accounts Payable Turnover	6.50	8.79	7.52	7.50	6.28	8.22	7.60	7.44	5.81	8.11	7.54
Days Sales Outstanding (DSO)	54.29	52.90	60.86	58.77	53.88	52.80	59.16	59.14	53.46	51.21	58.64
Days Inventory Outstanding (DIO)	17.80	19.63	21.32	22.15	22.28	22.83	22.93	21.77	21.12	21.21	20.45
Days Payable Outstanding (DPO)	56.16	41.51	48.56	48.64	58.15	44.39	48.05	49.08	62.86	45.00	48.44
Cash Conversion Cycle (CCC)	15.93	31.02	33.61	32.28	18.02	31.23	34.04	31.83	11.71	27.41	30.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	20,040	20,703	21,143	21,541	21,885	22,626	23,286	23,665	24,342	24,955	25,667
Invested Capital Turnover	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20
Increase / (Decrease) in Invested Capital	3,045	2,522	1,965	1,941	1,845	1,923	2,143	2,124	2,457	2,329	2,381
Enterprise Value (EV)	38,742	36,832	38,464	35,174	37,053	36,112	38,139	41,760	38,101	43,136	42,083
Market Capitalization	26,404	25,792	27,030	23,568	24,972	23,534	25,028	28,497	24,113	28,759	27,128
Book Value per Share	$42.31	$52.50	$49.84	$50.84	$50.32	$51.32	$52.11	$53.18	$53.01	$54.04	$54.78
Tangible Book Value per Share	$36.02	$46.21	$43.97	$44.97	$44.45	$45.46	$46.24	$47.31	$47.14	$48.17	$48.87
Total Capital	20,145	20,829	21,957	22,161	22,239	23,208	23,358	23,789	24,442	25,040	25,745
Total Debt	12,452	11,282	12,256	12,264	12,442	13,201	13,206	13,427	14,110	14,506	15,063
Total Long-Term Debt	10,996	10,555	11,677	11,772	11,788	12,644	12,631	12,627	12,594	13,393	12,355
Net Debt	12,335	11,040	11,432	11,603	12,078	12,575	13,108	13,260	13,985	14,374	14,952
Capital Expenditures (CapEx)	700	526	627	626	796	609	670	683	894	548	733
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-222	-69	-20	-108	-472	-339	-183	-262	-544	-272	5.00
Debt-free Net Working Capital (DFNWC)	-105	173	804	553	-108	287	-85	-95	-419	-140	116
Net Working Capital (NWC)	-1,561	-554	225	61	-762	-270	-660	-895	-1,935	-1,253	-2,592
Net Nonoperating Expense (NNE)	69	64	59	56	64	64	68	70	77	77	87
Net Nonoperating Obligations (NNO)	12,347	11,156	11,442	11,644	12,088	12,619	13,134	13,303	14,010	14,421	14,985
Total Depreciation and Amortization (D&A)	164	172	174	177	181	188	193	200	207	216	221
Debt-free, Cash-free Net Working Capital to Revenue	-5.85%	-1.77%	-0.49%	-2.61%	-11.15%	-7.87%	-4.20%	-5.80%	-11.61%	-5.65%	0.10%
Debt-free Net Working Capital to Revenue	-2.77%	4.45%	19.86%	13.38%	-2.55%	6.66%	-1.95%	-2.10%	-8.95%	-2.91%	2.35%
Net Working Capital to Revenue	-41.17%	-14.25%	5.56%	1.48%	-18.00%	-6.27%	-15.14%	-19.82%	-41.31%	-26.02%	-52.45%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.81	$0.91	$1.44	$1.66	$0.89	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48
Adjusted Weighted Average Basic Shares Outstanding	182M	186M	195M	195M	193M	195M	195M	195M	195M	195M	195M
Adjusted Diluted Earnings per Share	$0.81	$0.91	$1.44	$1.66	$0.89	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48
Adjusted Weighted Average Diluted Shares Outstanding	182M	186M	195M	195M	193M	195M	195M	195M	195M	195M	195M
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	181.86M	194.64M	194.67M	194.70M	194.76M	194.82M	194.86M	194.89M	194.95M	195.01M	195.10M
Normalized Net Operating Profit after Tax (NOPAT)	216	234	339	379	235	249	345	420	316	282	376
Normalized NOPAT Margin	23.15%	24.98%	30.89%	32.51%	22.73%	24.65%	29.98%	31.71%	26.27%	24.67%	29.46%
Pre Tax Income Margin	19.12%	22.81%	32.54%	34.88%	21.12%	23.94%	31.42%	34.24%	25.23%	23.64%	29.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.42	2.74	4.11	4.28	2.67	2.76	3.56	4.27	3.06	2.72	3.34
NOPAT to Interest Expense	1.86	2.04	3.08	3.24	1.99	2.01	2.63	3.18	2.32	1.96	2.49
EBIT Less CapEx to Interest Expense	-3.61	-1.83	-1.59	-1.07	-4.08	-2.15	-1.55	-0.91	-3.51	-1.08	-1.51
NOPAT Less CapEx to Interest Expense	-4.18	-2.54	-2.62	-2.11	-4.76	-2.90	-2.48	-2.00	-4.25	-1.85	-2.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	56.95%	57.33%	55.48%	55.87%	56.36%	57.46%	58.79%	58.29%	55.66%	55.65%	56.23%
Augmented Payout Ratio	56.95%	57.33%	55.48%	55.87%	56.36%	57.46%	58.79%	58.29%	55.66%	55.65%	56.23%

Key Financial Trends

American Water Works (NYSE: AWK) Financial Summary and Trends

American Water Works has shown consistent revenue growth and profitability over the past four years, with steady advances in its core operating metrics. Below is an analysis of key financial trends and data points from Q2 2022 through Q2 2025.

Increasing Operating Revenue: Operating revenue grew from $931 million in Q4 2022 to $1.276 billion in Q2 2025, indicating steady top-line growth driven by business expansion and pricing power.
Improving Net Income: Net income attributable to common shareholders more than doubled from $147 million in Q4 2022 to $289 million in Q2 2025, reflecting improved operational efficiency and scale.
Growth in Gross Profit: Gross profit increased from $498 million in Q4 2022 to $796 million in Q2 2025, showing effective cost control and margin expansion despite rising costs.
Strong Operating Cash Flow: Net cash from continuing operating activities remained robust, with $344 million in Q4 2022 increasing to $301 million in Q2 2025, supporting ongoing capital investments.
Capital Expenditures to Support Growth: Significant investments in property, plant and equipment (over $700 million in recent quarters) indicate a focus on infrastructure expansion and modernization, which should drive future revenue growth.
Consistent Dividend Payments: Cash dividends per common share rose from $0.655 in Q3 2023 to $0.8275 in Q2 2025, highlighting the company's commitment to returning capital to shareholders.
Rising Total Assets and Liabilities: Total assets increased from approximately $27.8 billion in 2022 to over $33.9 billion in mid-2025, with liabilities also growing—mainly in long-term debt—indicating ongoing leveraged investment in the business.
Stable Share Count: Weighted average basic and diluted shares outstanding remained around 195 million shares, indicating low dilution and consistent capital structure.
Increasing Debt Levels: Long-term debt grew from roughly $10.9 billion in 2022 to about $12.3 billion by Q2 2025, raising leverage which could pressure interest coverage if growth slows.
Negative Net Change in Cash Recently: In Q2 2025, net cash and equivalents declined by $22 million amid large investing outflows, suggesting aggressive capex and debt repayments that might constrain liquidity in the short term.

Overall, American Water Works demonstrates solid revenue and earnings growth underpinned by substantial investments in infrastructure. The company maintains strong cash flow generation supporting dividends and debt repayments. However, rising leverage and large capital expenditures warrant monitoring for potential future impacts on financial flexibility.

08/29/25 04:33 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About American Water Works' Financials

When does American Water Works' financial year end?

According to the most recent income statement we have on file, American Water Works' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has American Water Works' net income changed over the last 10 years?

American Water Works' net income appears to be on an upward trend, with a most recent value of $1.05 billion in 2024, rising from $423 million in 2014. The previous period was $944 million in 2023. See where experts think American Water Works is headed by visiting American Water Works' forecast page.

What is American Water Works' operating income?

American Water Works' total operating income in 2024 was $1.72 billion, based on the following breakdown:

Total Gross Profit: $2.83 billion
Total Operating Expenses: $1.11 billion

How has American Water Works' revenue changed over the last 10 years?

Over the last 10 years, American Water Works' total revenue changed from $3.01 billion in 2014 to $4.68 billion in 2024, a change of 55.6%.

How much debt does American Water Works have?

American Water Works' total liabilities were at $22.50 billion at the end of 2024, a 9.7% increase from 2023, and a 102.5% increase since 2014.

How much cash does American Water Works have?

In the past 10 years, American Water Works' cash and equivalents has ranged from $23 million in 2014 to $547 million in 2020, and is currently $96 million as of their latest financial filing in 2024.

How has American Water Works' book value per share changed over the last 10 years?

Over the last 10 years, American Water Works' book value per share changed from 27.41 in 2014 to 53.01 in 2024, a change of 93.4%.

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This page (NYSE:AWK) was last updated on 8/29/2025 by MarketBeat.com Staff

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American Water Works (AWK) Financials

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American Water Works (AWK) Financials

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