American Water Works (AWK) Financials

$123.76 +1.40 (+1.15%)

As of 03:49 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	476	468	426	567	621	709	1,263	820	944	1,051	1,111
Consolidated Net Income / (Loss)	476	468	426	565	621	709	1,263	820	944	1,051	1,111
Net Income / (Loss) Continuing Operations	476	468	426	565	621	709	1,263	820	944	1,051	1,111
Total Pre-Tax Income	782	770	912	787	833	924	1,640	1,008	1,196	1,359	1,422
Total Operating Income	1,075	1,085	1,253	1,102	1,214	1,248	1,196	1,273	1,504	1,718	1,879
Total Gross Profit	1,755	1,803	1,988	1,961	2,066	2,155	2,153	2,203	2,514	2,826	3,121
Total Revenue	3,159	3,302	3,357	3,440	3,610	3,777	3,930	3,792	4,234	4,684	5,140
Operating Revenue	3,159	3,302	3,357	3,440	3,610	3,777	3,930	3,792	4,234	4,684	5,140
Total Cost of Revenue	1,404	1,499	1,369	1,479	1,544	1,622	1,777	1,589	1,720	1,858	2,019
Operating Cost of Revenue	1,404	1,499	1,369	1,479	1,544	1,622	1,777	1,589	1,720	1,858	2,019
Total Operating Expenses	680	718	735	859	852	907	957	930	1,010	1,108	1,242
Depreciation Expense	440	470	492	545	582	604	636	649	704	788	894
Other Operating Expenses / (Income)	243	258	259	277	270	303	321	281	306	320	348
Total Other Income / (Expense), net	-293	-315	-341	-315	-381	-324	444	-265	-308	-359	-457
Interest Expense	0.00	0.00	7.00	-	386	397	403	433	460	523	615
Interest & Investment Income	-308	-325	-342	-350	4.00	2.00	4.00	52	73	94	90
Other Income / (Expense), net	15	10	8.00	35	1.00	71	843	116	79	70	68
Income Tax Expense	306	302	486	222	212	215	377	188	252	308	311
Basic Earnings per Share	$2.66	$2.63	$2.39	$3.16	$3.44	$3.91	$6.96	$4.51	$4.90	$5.39	$5.69
Weighted Average Basic Shares Outstanding	179M	178M	178M	180M	181M	181M	182M	182M	193M	195M	195M
Diluted Earnings per Share	$2.64	$2.62	$2.38	$3.15	$3.43	$3.91	$6.95	$4.51	$4.90	$5.39	$5.69
Weighted Average Diluted Shares Outstanding	180M	179M	179M	180M	181M	182M	182M	182M	193M	195M	195M
Weighted Average Basic & Diluted Shares Outstanding	178.90M	177.90M	178.20M	179.40M	180.97M	181.44M	181.72M	181.86M	194.76M	194.95M	195.21M
Cash Dividends to Common per Share	$1.36	$1.47	$1.62	$1.78	$1.96	$2.15	$2.36	$2.57	$2.78	$3.00	$3.25

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	323	171	185	277	350	239	205	289	379	238	196
Consolidated Net Income / (Loss)	323	171	185	277	350	239	205	289	379	238	196
Net Income / (Loss) Continuing Operations	323	171	185	277	350	239	205	289	379	238	196
Total Pre-Tax Income	407	218	242	361	453	303	270	376	494	282	259
Total Operating Income	478	299	326	449	543	400	371	489	614	405	391
Total Gross Profit	731	560	595	722	827	682	674	796	928	723	714
Total Revenue	1,167	1,032	1,011	1,149	1,323	1,201	1,142	1,276	1,451	1,271	1,207
Operating Revenue	1,167	1,032	1,011	1,149	1,323	1,201	1,142	1,276	1,451	1,271	1,207
Total Cost of Revenue	436	472	416	427	496	519	468	480	523	548	493
Operating Cost of Revenue	436	472	416	427	496	519	468	480	523	548	493
Total Operating Expenses	253	261	269	273	284	282	303	307	314	318	323
Depreciation Expense	177	181	188	193	200	207	216	221	226	231	237
Other Operating Expenses / (Income)	76	80	81	80	84	75	87	86	88	87	86
Total Other Income / (Expense), net	-71	-81	-84	-88	-90	-97	-101	-113	-120	-123	-132
Interest Expense	117	118	124	131	132	136	144	151	158	162	163
Interest & Investment Income	23	21	24	25	22	23	22	22	23	23	12
Other Income / (Expense), net	23	16	16	18	20	16	21	16	15	16	19
Income Tax Expense	84	47	57	84	103	64	65	87	115	44	63
Basic Earnings per Share	$1.66	$0.89	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48	$1.94	$1.22	$1.00
Weighted Average Basic Shares Outstanding	195M	193M	195M	195M	195M	195M	195M	195M	195M	195M	195M
Diluted Earnings per Share	$1.66	$0.89	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48	$1.94	$1.22	$1.00
Weighted Average Diluted Shares Outstanding	195M	193M	195M	195M	195M	195M	195M	195M	195M	195M	195M
Weighted Average Basic & Diluted Shares Outstanding	194.70M	194.76M	194.82M	194.86M	194.89M	194.95M	195.01M	195.10M	195.12M	195.21M	195.28M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	26	27	-16	76	-68	485	-440	-19	247	-224	-1.00
Net Cash From Operating Activities	1,195	1,289	1,449	1,386	1,383	1,426	1,441	1,108	1,874	2,045	2,059
Net Cash From Continuing Operating Activities	1,195	1,289	1,449	1,386	1,349	1,426	1,441	1,108	1,874	2,045	2,059
Net Income / (Loss) Continuing Operations	476	468	426	565	621	709	1,263	820	944	1,051	1,111
Consolidated Net Income / (Loss)	476	468	426	565	621	709	1,263	820	944	1,051	1,111
Depreciation Expense	440	470	492	545	582	604	636	649	704	788	894
Non-Cash Adjustments To Reconcile Net Income	-20	47	-54	51	-27	0.00	-774	-35	-9.00	62	19
Changes in Operating Assets and Liabilities, net	299	304	585	225	173	113	316	-326	235	144	35
Net Cash From Investing Activities	-1,459	-1,590	-1,672	-2,036	-1,945	-2,061	-1,536	-2,127	-2,815	-3,379	-3,309
Net Cash From Continuing Investing Activities	-1,459	-1,590	-1,672	-2,036	-1,945	-2,061	-1,536	-2,127	-2,815	-3,379	-3,309
Purchase of Property, Plant & Equipment	-1,160	-1,311	-1,434	-1,586	-1,654	-1,822	-1,764	-2,297	-2,575	-2,856	-3,126
Acquisitions	-197	-204	-177	-398	-235	-135	-135	-315	-81	-417	-71
Purchase of Investments	-	-	-	-	-	-	-	0.00	0.00	-135	-46
Sale and/or Maturity of Investments	-	-	-	-	-	-	-	0.00	0.00	181	109
Other Investing Activities, net	-107	-84	-76	-87	-104	-106	-109	-123	-159	-152	-175
Net Cash From Financing Activities	290	328	207	726	494	1,120	-345	1,000	1,188	1,110	1,249
Net Cash From Continuing Financing Activities	290	328	207	726	479	1,120	-345	1,000	1,188	1,110	1,249
Repayment of Debt	7.00	88	-943	-548	-510	-353	-597	571	-1,292	219	34
Payment of Dividends	-239	-261	-289	-319	-353	-389	-428	-467	-532	-585	-633
Issuance of Debt	625	553	1,450	1,439	1,352	1,834	618	822	1,264	1,437	1,781
Issuance of Common Equity	39	13	15	199	-	-	0.00	0.00	1,688	0.00	0.00
Other Financing Activities, net	-16	-	28	0.00	26	28	62	74	60	39	67
Cash Interest Paid	309	327	338	332	383	382	389	414	445	483	568

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-163	-297	262	-528	79	-37	17	-22	74	-70	32
Net Cash From Operating Activities	633	527	382	345	679	639	331	301	764	663	305
Net Cash From Continuing Operating Activities	633	527	382	345	679	639	331	301	764	663	305
Net Income / (Loss) Continuing Operations	323	171	185	277	350	239	205	289	379	238	196
Consolidated Net Income / (Loss)	323	171	185	277	350	239	205	289	379	238	196
Depreciation Expense	177	181	188	193	200	207	216	221	226	231	237
Non-Cash Adjustments To Reconcile Net Income	21	4.00	9.00	-29	48	34	-13	-6.00	50	-12	0.00
Changes in Operating Assets and Liabilities, net	112	171	0.00	-96	81	159	-77	-203	109	206	-128
Net Cash From Investing Activities	-664	-887	-733	-738	-688	-1,220	-568	-772	-839	-1,130	93
Net Cash From Continuing Investing Activities	-664	-887	-733	-738	-688	-1,220	-568	-772	-839	-1,130	93
Purchase of Property, Plant & Equipment	-626	-796	-609	-670	-683	-894	-548	-733	-797	-1,048	-659
Acquisitions	-3.00	-45	-86	-33	-	-298	-3.00	-10	-9.00	-49	-20
Purchase of Investments	-	-	0.00	-	-	-22	-27	-8.00	-8.00	-3.00	0.00
Sale and/or Maturity of Investments	-	-	0.00	-	-	34	39	21	24	25	812
Other Investing Activities, net	-35	-46	-38	-35	-39	-40	-29	-42	-49	-55	-40
Net Cash From Financing Activities	-132	63	613	-135	88	544	254	449	149	397	-366
Net Cash From Continuing Financing Activities	-132	63	613	-135	88	544	254	449	149	397	-366
Repayment of Debt	-92	162	-643	-13	209	666	-420	523	-741	672	-230
Payment of Dividends	-138	-137	-138	-149	-149	-149	-149	-162	-161	-161	-162
Issuance of Debt	86	18	1,391	12	13	21	810	66	1,026	-121	7.00
Other Financing Activities, net	12	20	3.00	15	15	6.00	13	22	25	7.00	19

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	17,241	18,482	19,482	21,223	22,682	24,766	26,075	27,787	30,298	32,830	35,442
Total Current Assets	657	784	720	781	1,285	1,906	1,554	1,250	1,389	1,215	2,191
Cash & Equivalents	45	75	55	130	60	547	116	85	330	96	98
Restricted Cash	21	20	27	28	31	29	20	32	34	29	21
Note & Lease Receivable	-	-	-	-	-	-	-	-	-	0.00	795
Accounts Receivable	522	532	484	487	466	527	519	609	641	731	828
Inventories, net	38	39	41	41	44	47	57	98	112	103	112
Current Deferred & Refundable Income Taxes	-	-	-	-	-	-	4.00	114	86	25	9.00
Other Current Assets	31	118	113	95	118	127	155	312	186	231	328
Plant, Property, & Equipment, net	13,933	14,992	16,246	17,409	18,232	19,710	21,084	23,223	25,438	28,038	30,576
Plant, Property & Equipment, gross	18,504	19,954	21,716	23,204	23,941	25,614	27,413	29,736	32,189	35,059	37,955
Accumulated Depreciation	4,571	4,962	5,470	5,795	5,709	5,904	6,329	6,513	6,751	7,021	7,379
Total Noncurrent Assets	2,651	2,706	2,516	3,033	3,165	3,150	3,437	3,314	3,471	3,577	2,675
Goodwill	1,302	1,345	1,379	1,575	1,501	1,504	1,139	1,143	1,143	1,144	1,156
Other Noncurrent Operating Assets	1,349	1,361	1,128	1,219	1,335	1,323	1,385	1,369	1,522	1,549	1,434
Other Noncurrent Nonoperating Assets	-	-	-	-	103	95	720	82	86	89	85
Total Liabilities & Shareholders' Equity	17,241	18,482	19,482	21,223	22,682	24,766	26,075	27,787	30,298	32,830	35,442
Total Liabilities	12,180	13,254	14,089	15,352	16,556	18,308	18,774	20,091	20,498	22,495	24,602
Total Current Liabilities	1,533	2,392	2,325	2,094	2,045	2,881	2,141	2,811	2,151	3,150	4,747
Short-Term Debt	682	1,423	1,227	1,035	814	1,611	641	1,456	654	1,516	3,067
Accounts Payable	126	154	195	175	203	189	235	254	294	346	378
Accrued Expenses	493	609	630	556	596	591	701	706	791	791	830
Current Deferred & Payable Income Tax Liabilities	26	31	33	45	46	50	176	49	67	156	134
Other Current Liabilities	144	112	167	196	174	215	217	255	252	230	198
Other Current Nonoperating Liabilities	62	63	73	87	212	225	171	91	93	111	140
Total Noncurrent Liabilities	10,647	10,862	11,764	13,258	14,511	15,427	16,633	17,280	18,347	19,345	19,855
Long-Term Debt	5,862	5,749	6,490	7,569	8,639	9,329	10,341	10,926	11,715	12,518	12,777
Capital Lease Obligations	-	-	-	-	-	81	80	70	73	76	74
Asset Retirement Reserve & Litigation Obligation	402	403	1,664	-	-	1,770	1,600	1,590	1,481	1,416	1,416
Noncurrent Deferred Revenue	349	300	271	252	240	270	284	316	352	383	435
Noncurrent Deferred & Payable Income Tax Liabilities	2,334	2,619	1,573	1,740	1,893	2,113	2,421	2,437	2,717	2,881	3,190
Noncurrent Employee Benefit Liabilities	511	506	424	390	411	388	285	235	262	217	167
Other Noncurrent Operating Liabilities	1,189	1,285	1,342	3,307	3,328	1,476	1,622	1,706	1,747	1,854	1,796
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	5,049	5,218	5,385	5,864	6,121	6,454	7,298	7,693	9,797	10,332	10,837
Total Preferred & Common Equity	5,049	5,218	5,385	5,864	6,121	6,454	7,298	7,693	9,797	10,332	10,837
Preferred Stock	-	-	-	-	5.00	4.00	-	3.00	3.00	3.00	3.00
Total Common Equity	5,049	5,218	5,385	5,864	6,121	6,454	7,298	7,693	9,797	10,332	10,837
Common Stock	6,353	6,390	6,434	6,659	6,702	6,749	6,783	6,826	8,552	8,600	8,644
Retained Earnings	-1,073	-873	-723	-464	-207	102	925	1,267	1,659	2,112	2,575
Treasury Stock	-143	-213	-247	-297	-338	-348	-365	-377	-388	-392	-388
Accumulated Other Comprehensive Income / (Loss)	-88	-86	-79	-34	-36	-49	-45	-23	-26	12	6.00

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	29,496	29,818	30,298	31,086	31,215	31,790	32,830	33,156	33,913	34,748	35,264
Total Current Assets	1,989	1,804	1,389	1,587	1,165	1,237	1,215	1,194	1,399	1,552	1,524
Cash & Equivalents	794	628	330	584	48	127	96	114	94	166	137
Restricted Cash	30	33	34	42	50	40	29	18	17	11	19
Note & Lease Receivable	-	-	-	-	-	-	-	-	-	-	0.00
Accounts Receivable	683	700	641	639	730	763	731	712	858	896	837
Inventories, net	109	111	112	115	111	105	103	107	109	109	114
Current Deferred & Refundable Income Taxes	74	54	86	26	17	7.00	25	23	25	3.00	112
Other Current Assets	299	278	186	181	209	195	231	220	296	367	305
Plant, Property, & Equipment, net	24,188	24,688	25,438	26,023	26,532	27,007	28,038	28,377	28,932	29,612	31,073
Plant, Property & Equipment, gross	30,815	31,397	32,189	32,780	33,364	33,940	35,059	35,466	36,137	36,895	38,569
Accumulated Depreciation	6,627	6,709	6,751	6,757	6,832	6,933	7,021	7,089	7,205	7,283	7,496
Total Noncurrent Assets	3,319	3,326	3,471	3,476	3,518	3,546	3,577	3,585	3,582	3,584	2,667
Goodwill	1,143	1,143	1,143	1,143	1,143	1,143	1,144	1,144	1,151	1,151	1,156
Other Noncurrent Operating Assets	1,373	1,377	1,522	1,448	1,490	1,519	1,549	1,559	1,547	1,551	1,429
Other Noncurrent Nonoperating Assets	83	86	86	90	90	89	89	87	89	87	82
Total Liabilities & Shareholders' Equity	29,496	29,818	30,298	31,086	31,215	31,790	32,830	33,156	33,913	34,748	35,264
Total Liabilities	19,793	19,918	20,498	21,076	21,060	21,425	22,495	22,619	23,228	23,838	24,224
Total Current Liabilities	1,764	1,743	2,151	1,857	1,825	2,132	3,150	2,447	3,991	3,687	4,118
Short-Term Debt	579	492	654	557	575	800	1,516	1,113	2,708	2,274	2,860
Accounts Payable	246	228	294	231	215	259	346	240	306	302	272
Accrued Expenses	575	605	791	636	607	585	791	539	569	630	580
Current Deferred & Payable Income Tax Liabilities	65	82	67	89	108	174	156	228	107	151	94
Other Current Liabilities	208	212	252	213	207	185	230	196	182	191	177
Other Current Nonoperating Liabilities	91	124	93	131	113	129	111	131	119	139	135
Total Noncurrent Liabilities	18,029	18,175	18,347	19,219	19,235	19,293	19,345	20,172	19,237	20,151	20,106
Long-Term Debt	11,607	11,698	11,715	12,566	12,553	12,550	12,518	13,318	12,278	13,022	12,766
Capital Lease Obligations	70	74	73	78	78	77	76	75	77	75	72
Asset Retirement Reserve & Litigation Obligation	1,524	1,478	1,481	1,460	1,434	1,403	1,416	1,400	1,420	1,467	1,409
Noncurrent Deferred Revenue	333	340	352	367	379	379	383	396	410	425	468
Noncurrent Deferred & Payable Income Tax Liabilities	2,549	2,632	2,717	2,742	2,780	2,833	2,881	2,936	2,990	3,064	3,382
Noncurrent Employee Benefit Liabilities	209	201	262	256	251	243	217	212	207	203	160
Other Noncurrent Operating Liabilities	1,737	1,752	1,747	1,750	1,760	1,808	1,854	1,835	1,855	1,895	1,849
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	9,701	9,897	9,797	10,007	10,152	10,362	10,332	10,534	10,682	10,907	11,037
Total Preferred & Common Equity	9,701	9,897	9,797	10,007	10,152	10,362	10,332	10,534	10,682	10,907	11,037
Preferred Stock	2.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00
Total Common Equity	9,701	9,897	9,797	10,007	10,152	10,362	10,332	10,534	10,682	10,907	11,037
Common Stock	8,531	8,543	8,552	8,563	8,580	8,590	8,600	8,613	8,623	8,632	8,654
Retained Earnings	1,580	1,764	1,659	1,844	1,971	2,172	2,112	2,317	2,445	2,662	2,771
Treasury Stock	-388	-388	-388	-392	-392	-392	-392	-398	-391	-391	-396
Accumulated Other Comprehensive Income / (Loss)	-22	-22	-26	-8.00	-7.00	-8.00	12	2.00	5.00	4.00	8.00

This table displays calculated financial ratios and metrics derived from American Water Works' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.92%	4.53%	1.67%	2.47%	4.94%	4.63%	4.05%	-3.51%	11.66%	10.63%	9.74%
EBITDA Growth	6.77%	2.29%	12.01%	-4.05%	6.84%	7.01%	39.11%	-23.81%	12.22%	12.64%	10.29%
EBIT Growth	8.03%	0.46%	15.16%	-9.83%	6.86%	8.56%	54.59%	-31.88%	13.97%	12.95%	8.89%
NOPAT Growth	7.72%	0.78%	-11.25%	35.17%	14.40%	5.81%	-3.82%	12.43%	14.63%	11.92%	10.49%
Net Income Growth	12.53%	-1.68%	-8.97%	32.63%	9.91%	14.17%	78.14%	-35.08%	15.12%	11.33%	5.71%
EPS Growth	12.34%	-0.76%	-9.16%	32.35%	8.89%	13.99%	77.75%	-35.11%	8.65%	10.00%	5.57%
Operating Cash Flow Growth	8.93%	7.87%	12.41%	-4.35%	-0.22%	3.11%	1.05%	-23.11%	69.13%	9.12%	0.68%
Free Cash Flow Firm Growth	-118.70%	-83.36%	-37.35%	-246.51%	154.32%	-249.40%	179.46%	-708.80%	67.26%	-71.51%	21.66%
Invested Capital Growth	6.55%	6.61%	5.93%	9.95%	4.35%	9.13%	3.60%	17.92%	9.21%	11.23%	9.66%
Revenue Q/Q Growth	1.67%	0.58%	0.57%	0.85%	1.46%	0.56%	0.72%	-0.52%	2.44%	3.74%	1.38%
EBITDA Q/Q Growth	1.25%	1.16%	1.74%	0.18%	-0.88%	2.51%	36.83%	-25.78%	2.28%	5.19%	1.03%
EBIT Q/Q Growth	1.01%	1.01%	2.94%	-2.07%	-2.17%	3.61%	53.77%	-33.89%	2.20%	5.99%	0.26%
NOPAT Q/Q Growth	0.72%	1.35%	-20.64%	26.15%	3.49%	1.48%	-9.68%	9.95%	1.75%	6.49%	1.66%
Net Income Q/Q Growth	1.19%	0.43%	-19.32%	25.00%	-2.20%	7.10%	65.53%	-37.78%	2.61%	6.92%	-0.09%
EPS Q/Q Growth	1.93%	0.00%	-19.05%	24.02%	-2.00%	7.12%	65.48%	-37.79%	1.66%	6.52%	0.00%
Operating Cash Flow Q/Q Growth	7.39%	0.39%	6.23%	-2.46%	3.29%	0.00%	-1.77%	-5.78%	10.82%	5.79%	1.18%
Free Cash Flow Firm Q/Q Growth	-100.39%	-364.58%	-32.50%	20.00%	245.19%	-2,324.89%	416.77%	-53.96%	15.03%	-28.76%	15.56%
Invested Capital Q/Q Growth	0.77%	2.03%	1.00%	1.17%	-1.78%	1.08%	-2.06%	2.24%	1.60%	2.86%	2.06%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.56%	54.60%	59.22%	57.01%	57.23%	57.06%	54.78%	58.10%	59.38%	60.33%	60.72%
EBITDA Margin	48.43%	47.40%	52.22%	48.90%	49.78%	50.91%	68.07%	53.74%	54.02%	55.00%	55.27%
Operating Margin	34.03%	32.86%	37.33%	32.03%	33.63%	33.04%	30.43%	33.57%	35.52%	36.68%	36.56%
EBIT Margin	34.50%	33.16%	37.56%	33.05%	33.66%	34.92%	51.88%	36.63%	37.39%	38.17%	37.88%
Profit (Net Income) Margin	15.07%	14.17%	12.69%	16.42%	17.20%	18.77%	32.14%	21.62%	22.30%	22.44%	21.61%
Tax Burden Percent	60.87%	60.78%	46.71%	71.79%	74.55%	76.73%	77.01%	81.35%	78.93%	77.34%	78.13%
Interest Burden Percent	71.74%	70.32%	72.32%	69.22%	68.56%	70.05%	80.43%	72.57%	75.55%	76.01%	73.04%
Effective Tax Rate	39.13%	39.22%	53.29%	28.21%	25.45%	23.27%	22.99%	18.65%	21.07%	22.66%	21.87%
Return on Invested Capital (ROIC)	5.82%	5.50%	4.60%	5.75%	6.15%	6.09%	5.52%	5.59%	5.66%	5.75%	5.75%
ROIC Less NNEP Spread (ROIC-NNEP)	2.97%	2.71%	2.45%	2.97%	2.89%	3.46%	9.00%	3.64%	3.67%	3.62%	3.36%
Return on Net Nonoperating Assets (RNNOA)	3.72%	3.61%	3.44%	4.29%	4.21%	5.18%	12.85%	5.35%	5.13%	4.69%	4.74%
Return on Equity (ROE)	9.54%	9.12%	8.04%	10.05%	10.36%	11.28%	18.37%	10.94%	10.79%	10.44%	10.50%
Cash Return on Invested Capital (CROIC)	-0.52%	-0.90%	-1.16%	-3.72%	1.89%	-2.64%	1.98%	-10.85%	-3.14%	-4.88%	-3.46%
Operating Return on Assets (OROA)	6.55%	6.13%	6.64%	5.59%	5.53%	5.56%	8.02%	5.16%	5.45%	5.66%	5.70%
Return on Assets (ROA)	2.86%	2.62%	2.24%	2.78%	2.83%	2.99%	4.97%	3.04%	3.25%	3.33%	3.25%
Return on Common Equity (ROCE)	9.53%	9.12%	8.04%	10.05%	10.36%	11.28%	18.37%	10.94%	10.79%	10.44%	10.50%
Return on Equity Simple (ROE_SIMPLE)	9.43%	8.97%	7.91%	9.64%	10.15%	10.99%	17.31%	10.66%	9.64%	10.17%	0.00%
Net Operating Profit after Tax (NOPAT)	654	659	585	791	905	958	921	1,036	1,187	1,329	1,468
NOPAT Margin	20.71%	19.97%	17.43%	23.00%	25.07%	25.35%	23.44%	27.31%	28.04%	28.37%	28.56%
Net Nonoperating Expense Percent (NNEP)	2.85%	2.79%	2.14%	2.78%	3.26%	2.64%	-3.48%	1.96%	1.99%	2.13%	2.39%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.14%	5.34%	5.44%	5.49%
Cost of Revenue to Revenue	44.44%	45.40%	40.78%	42.99%	42.77%	42.94%	45.22%	41.90%	40.62%	39.67%	39.28%
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	21.53%	21.74%	21.89%	24.97%	23.60%	24.01%	24.35%	24.53%	23.85%	23.66%	24.16%
Earnings before Interest and Taxes (EBIT)	1,090	1,095	1,261	1,137	1,215	1,319	2,039	1,389	1,583	1,788	1,947
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,530	1,565	1,753	1,682	1,797	1,923	2,675	2,038	2,287	2,576	2,841
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.80	2.14	2.68	2.53	3.34	4.03	4.45	3.43	2.55	2.33	2.33
Price to Tangible Book Value (P/TBV)	2.43	2.88	3.61	3.58	4.49	5.31	5.28	4.03	2.89	2.62	2.61
Price to Revenue (P/Rev)	2.88	3.38	4.30	4.31	5.66	6.88	8.27	6.96	5.90	5.15	4.92
Price to Earnings (P/E)	19.14	23.86	33.89	26.12	32.90	36.66	25.72	32.20	26.45	22.94	22.77
Dividend Yield	2.62%	2.34%	2.00%	2.17%	1.73%	1.50%	1.32%	1.77%	2.17%	2.43%	2.51%
Earnings Yield	5.22%	4.19%	2.95%	3.83%	3.04%	2.73%	3.89%	3.11%	3.78%	4.36%	4.39%
Enterprise Value to Invested Capital (EV/IC)	1.34	1.48	1.68	1.61	1.98	2.22	2.55	1.93	1.69	1.57	1.54
Enterprise Value to Revenue (EV/Rev)	4.94	5.53	6.58	6.76	8.25	9.65	11.05	10.22	8.75	8.13	8.00
Enterprise Value to EBITDA (EV/EBITDA)	10.19	11.66	12.59	13.83	16.58	18.95	16.23	19.01	16.20	14.79	14.46
Enterprise Value to EBIT (EV/EBIT)	14.30	16.66	17.50	20.45	24.52	27.63	21.29	27.89	23.41	21.31	21.11
Enterprise Value to NOPAT (EV/NOPAT)	23.83	27.67	37.71	29.40	32.92	38.05	47.14	37.41	31.21	28.68	27.99
Enterprise Value to Operating Cash Flow (EV/OCF)	13.05	14.15	15.23	16.78	21.54	25.55	30.13	34.97	19.77	18.63	19.96
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	107.16	0.00	131.54	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.30	1.37	1.43	1.47	1.54	1.71	1.52	1.62	1.27	1.37	1.47
Long-Term Debt to Equity	1.16	1.10	1.21	1.29	1.41	1.46	1.43	1.43	1.20	1.22	1.19
Financial Leverage	1.25	1.33	1.40	1.45	1.46	1.50	1.43	1.47	1.40	1.30	1.41
Leverage Ratio	3.33	3.48	3.58	3.62	3.66	3.77	3.70	3.59	3.32	3.14	3.23
Compound Leverage Factor	2.39	2.45	2.59	2.50	2.51	2.64	2.97	2.61	2.51	2.38	2.36
Debt to Total Capital	56.45%	57.89%	58.90%	59.47%	60.70%	63.07%	60.25%	61.81%	55.95%	57.73%	59.50%
Short-Term Debt to Total Capital	5.88%	11.49%	9.37%	7.15%	5.23%	9.22%	3.49%	7.23%	2.94%	6.20%	11.46%
Long-Term Debt to Total Capital	50.57%	46.40%	49.53%	52.32%	55.47%	53.85%	56.76%	54.58%	53.01%	51.53%	48.03%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.03%	0.02%	0.00%	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	43.55%	42.11%	41.10%	40.53%	39.30%	36.93%	39.75%	38.19%	44.05%	42.27%	40.50%
Debt to EBITDA	4.28	4.58	4.40	5.12	5.26	5.73	4.14	6.11	5.44	5.48	5.60
Net Debt to EBITDA	4.23	4.52	4.36	5.02	5.21	5.43	4.08	6.05	5.28	5.43	5.56
Long-Term Debt to EBITDA	3.83	3.67	3.70	4.50	4.81	4.89	3.90	5.40	5.15	4.89	4.52
Debt to NOPAT	10.00	10.88	13.19	10.88	10.44	11.51	12.01	12.02	10.48	10.62	10.84
Net Debt to NOPAT	9.90	10.73	13.05	10.68	10.34	10.91	11.86	11.91	10.17	10.53	10.76
Long-Term Debt to NOPAT	8.96	8.72	11.09	9.57	9.55	9.83	11.31	10.62	9.93	9.48	8.75
Altman Z-Score	0.69	0.71	0.85	0.81	1.02	1.14	1.47	1.09	1.09	0.98	0.96
Noncontrolling Interest Sharing Ratio	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.43	0.33	0.31	0.37	0.63	0.66	0.73	0.44	0.65	0.39	0.46
Quick Ratio	0.37	0.25	0.23	0.29	0.26	0.37	0.30	0.25	0.45	0.26	0.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-59	-108	-148	-512	278	-415	330	-2,009	-658	-1,128	-884
Operating Cash Flow to CapEx	103.46%	99.00%	102.11%	89.36%	86.11%	78.35%	111.53%	65.60%	72.78%	71.60%	65.87%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-21.10	0.00	0.72	-1.05	0.82	-4.64	-1.43	-2.16	-1.44
Operating Cash Flow to Interest Expense	0.00	0.00	207.00	0.00	3.58	3.59	3.58	2.56	4.07	3.91	3.35
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	4.29	0.00	-0.58	-0.99	0.37	-1.34	-1.52	-1.55	-1.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.19	0.18	0.18	0.17	0.16	0.16	0.15	0.14	0.15	0.15	0.15
Accounts Receivable Turnover	6.48	6.27	6.61	7.09	7.58	7.61	7.51	6.72	6.77	6.83	6.59
Inventory Turnover	37.44	38.94	34.23	36.07	36.33	35.65	34.17	20.50	16.38	17.28	18.78
Fixed Asset Turnover	0.23	0.23	0.21	0.20	0.20	0.20	0.19	0.17	0.17	0.18	0.18
Accounts Payable Turnover	12.42	10.71	7.85	7.99	8.17	8.28	8.38	6.50	6.28	5.81	5.58
Days Sales Outstanding (DSO)	56.33	58.25	55.23	51.51	48.18	47.98	48.57	54.29	53.88	53.46	55.35
Days Inventory Outstanding (DIO)	9.75	9.37	10.66	10.12	10.05	10.24	10.68	17.80	22.28	21.12	19.43
Days Payable Outstanding (DPO)	29.38	34.09	46.52	45.66	44.68	44.11	43.55	56.16	58.15	62.86	65.44
Cash Conversion Cycle (CCC)	36.70	33.54	19.37	15.98	13.55	14.11	15.71	15.93	18.02	11.71	9.34
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,601	12,368	13,101	14,404	15,031	16,404	16,995	20,040	21,885	24,342	26,694
Invested Capital Turnover	0.28	0.28	0.26	0.25	0.25	0.24	0.24	0.20	0.20	0.20	0.20
Increase / (Decrease) in Invested Capital	713	767	733	1,303	627	1,373	591	3,045	1,845	2,457	2,352
Enterprise Value (EV)	15,590	18,245	22,073	23,257	29,795	36,439	43,416	38,742	37,053	38,101	41,094
Market Capitalization	9,112	11,168	14,438	14,811	20,428	25,990	32,490	26,404	24,972	24,113	25,292
Book Value per Share	$28.13	$29.31	$30.19	$32.47	$33.86	$35.60	$40.20	$42.31	$50.32	$53.01	$55.54
Tangible Book Value per Share	$20.88	$21.76	$22.41	$22.89	$25.19	$27.00	$33.93	$36.02	$44.45	$47.14	$49.61
Total Capital	11,593	12,390	13,102	14,468	15,574	17,475	18,360	20,145	22,239	24,442	26,755
Total Debt	6,544	7,172	7,717	8,604	9,453	11,021	11,062	12,452	12,442	14,110	15,918
Total Long-Term Debt	5,862	5,749	6,490	7,569	8,639	9,410	10,421	10,996	11,788	12,594	12,851
Net Debt	6,478	7,077	7,635	8,446	9,362	10,445	10,926	12,335	12,078	13,985	15,799
Capital Expenditures (CapEx)	1,155	1,302	1,419	1,551	1,606	1,820	1,292	1,689	2,575	2,856	3,126
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-260	-280	-460	-436	-37	60	-82	-222	-472	-544	392
Debt-free Net Working Capital (DFNWC)	-194	-185	-378	-278	54	636	54	-105	-108	-419	511
Net Working Capital (NWC)	-876	-1,608	-1,605	-1,313	-760	-975	-587	-1,561	-762	-1,935	-2,556
Net Nonoperating Expense (NNE)	178	191	159	226	284	249	-342	216	243	278	357
Net Nonoperating Obligations (NNO)	6,552	7,150	7,716	8,540	8,910	9,950	9,697	12,347	12,088	14,010	15,857
Total Depreciation and Amortization (D&A)	440	470	492	545	582	604	636	649	704	788	894
Debt-free, Cash-free Net Working Capital to Revenue	-8.23%	-8.48%	-13.70%	-12.67%	-1.02%	1.59%	-2.09%	-5.85%	-11.15%	-11.61%	7.63%
Debt-free Net Working Capital to Revenue	-6.14%	-5.60%	-11.26%	-8.08%	1.50%	16.84%	1.37%	-2.77%	-2.55%	-8.95%	9.94%
Net Working Capital to Revenue	-27.73%	-48.70%	-47.81%	-38.17%	-21.05%	-25.81%	-14.94%	-41.17%	-18.00%	-41.31%	-49.73%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.66	$2.63	$2.39	$3.16	$3.44	$3.91	$6.96	$4.51	$4.90	$5.39	$5.69
Adjusted Weighted Average Basic Shares Outstanding	179M	178M	178M	180M	181M	181M	182M	182M	193M	195M	195M
Adjusted Diluted Earnings per Share	$2.64	$2.62	$2.38	$3.15	$3.43	$3.91	$6.95	$4.51	$4.90	$5.39	$5.69
Adjusted Weighted Average Diluted Shares Outstanding	180M	179M	179M	180M	181M	182M	182M	182M	193M	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	178.01M	178.21M	178.55M	180.75M	180.97M	181.44M	181.72M	181.86M	194.76M	194.95M	195.21M
Normalized Net Operating Profit after Tax (NOPAT)	653	653	866	818	905	958	921	1,036	1,187	1,329	1,468
Normalized NOPAT Margin	20.66%	19.79%	25.79%	23.77%	25.07%	25.35%	23.44%	27.31%	28.04%	28.37%	28.56%
Pre Tax Income Margin	24.75%	23.32%	27.17%	22.88%	23.07%	24.46%	41.73%	26.58%	28.25%	29.01%	27.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	180.14	0.00	3.15	3.32	5.06	3.21	3.44	3.42	3.17
NOPAT to Interest Expense	0.00	0.00	83.61	0.00	2.34	2.41	2.29	2.39	2.58	2.54	2.39
EBIT Less CapEx to Interest Expense	0.00	0.00	-22.57	0.00	-1.01	-1.26	1.85	-0.69	-2.16	-2.04	-1.92
NOPAT Less CapEx to Interest Expense	0.00	0.00	-119.10	0.00	-1.82	-2.17	-0.92	-1.51	-3.02	-2.92	-2.70
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	50.21%	55.77%	67.84%	56.46%	56.84%	54.87%	33.89%	56.95%	56.36%	55.66%	56.98%
Augmented Payout Ratio	76.68%	69.66%	80.52%	64.42%	62.64%	54.87%	33.89%	56.95%	56.36%	55.66%	56.98%

This table displays calculated financial ratios and metrics derived from American Water Works' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	195,208,666.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	195,208,666.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.00
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.86%	10.85%	7.78%	4.74%	13.37%	16.38%	12.96%	11.05%	9.68%	5.83%	5.69%
EBITDA Growth	7.96%	11.46%	8.83%	5.43%	12.54%	25.60%	14.72%	10.00%	12.06%	4.65%	6.41%
EBIT Growth	7.97%	12.10%	8.57%	3.32%	12.38%	32.06%	14.62%	8.14%	11.72%	1.20%	4.59%
NOPAT Growth	6.78%	8.81%	6.34%	1.68%	10.59%	34.53%	13.03%	9.09%	12.28%	8.33%	5.04%
Net Income Growth	8.75%	16.33%	8.82%	-1.07%	8.36%	39.77%	10.81%	4.33%	8.29%	-0.42%	-4.39%
EPS Growth	1.84%	9.88%	4.40%	-1.39%	8.43%	37.08%	10.53%	4.23%	7.78%	0.00%	-4.76%
Operating Cash Flow Growth	11.44%	53.20%	34.04%	-19.58%	7.27%	21.25%	-13.35%	-12.75%	12.52%	3.76%	-7.86%
Free Cash Flow Firm Growth	17.45%	43.08%	26.83%	-10.60%	-9.14%	-32.97%	-22.32%	-11.49%	-18.51%	6.13%	32.39%
Invested Capital Growth	9.90%	9.21%	9.29%	10.14%	9.86%	11.23%	10.29%	10.23%	10.53%	9.66%	6.73%
Revenue Q/Q Growth	6.38%	-11.57%	-2.03%	13.65%	15.14%	-9.22%	-4.91%	11.73%	13.71%	-12.41%	-5.04%
EBITDA Q/Q Growth	8.31%	-26.84%	6.85%	24.53%	15.61%	-18.35%	-2.41%	19.41%	17.77%	-23.74%	-0.77%
EBIT Q/Q Growth	10.84%	-37.13%	8.57%	36.55%	20.56%	-26.11%	-5.77%	28.83%	24.55%	-33.07%	-2.61%
NOPAT Q/Q Growth	11.96%	-38.17%	6.26%	38.24%	21.77%	-24.80%	-10.72%	33.43%	25.33%	-27.44%	-13.43%
Net Income Q/Q Growth	15.36%	-47.06%	8.19%	49.73%	26.35%	-31.71%	-14.23%	40.98%	31.14%	-37.20%	-17.65%
EPS Q/Q Growth	15.28%	-46.39%	6.74%	49.47%	26.76%	-32.22%	-13.93%	40.95%	31.08%	-37.11%	-18.03%
Operating Cash Flow Q/Q Growth	47.55%	-16.75%	-27.51%	-9.69%	96.81%	-5.89%	-48.20%	-9.06%	153.82%	-13.22%	-54.00%
Free Cash Flow Firm Q/Q Growth	3.97%	-3.13%	-3.93%	-7.45%	5.23%	-25.64%	4.40%	2.06%	-0.74%	0.48%	31.15%
Invested Capital Q/Q Growth	1.88%	1.60%	3.39%	2.92%	1.63%	2.86%	2.52%	2.85%	1.91%	2.06%	-0.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.64%	54.26%	58.85%	62.84%	62.51%	56.79%	59.02%	62.38%	63.96%	56.88%	59.15%
EBITDA Margin	58.10%	48.06%	52.42%	57.44%	57.67%	51.87%	53.24%	56.90%	58.92%	51.30%	53.60%
Operating Margin	40.96%	28.97%	32.25%	39.08%	41.04%	33.31%	32.49%	38.32%	42.32%	31.86%	32.39%
EBIT Margin	42.93%	30.52%	33.83%	40.64%	42.55%	34.64%	34.33%	39.58%	43.35%	33.12%	33.97%
Profit (Net Income) Margin	27.68%	16.57%	18.30%	24.11%	26.46%	19.90%	17.95%	22.65%	26.12%	18.73%	16.24%
Tax Burden Percent	79.36%	78.44%	76.45%	76.73%	77.26%	78.88%	75.93%	76.86%	76.72%	84.40%	75.68%
Interest Burden Percent	81.24%	69.21%	70.76%	77.30%	80.46%	72.84%	68.88%	74.46%	78.54%	66.98%	63.17%
Effective Tax Rate	20.64%	21.56%	23.55%	23.27%	22.74%	21.12%	24.07%	23.14%	23.28%	15.60%	24.32%
Return on Invested Capital (ROIC)	6.53%	4.59%	4.90%	5.88%	6.33%	5.32%	4.99%	5.95%	6.61%	5.42%	4.95%
ROIC Less NNEP Spread (ROIC-NNEP)	6.05%	4.07%	4.36%	5.33%	5.78%	4.74%	4.43%	5.33%	5.96%	4.72%	4.28%
Return on Net Nonoperating Assets (RNNOA)	8.05%	5.69%	5.30%	6.60%	7.11%	6.14%	5.83%	7.19%	8.00%	6.66%	5.96%
Return on Equity (ROE)	14.58%	10.28%	10.20%	12.49%	13.45%	11.47%	10.82%	13.14%	14.61%	12.08%	10.90%
Cash Return on Invested Capital (CROIC)	-3.76%	-3.14%	-3.32%	-4.21%	-3.88%	-4.88%	-4.07%	-4.04%	-4.20%	-3.46%	-0.76%
Operating Return on Assets (OROA)	6.23%	4.45%	4.91%	5.84%	6.24%	5.14%	5.15%	6.01%	6.61%	4.99%	5.17%
Return on Assets (ROA)	4.02%	2.42%	2.65%	3.46%	3.88%	2.95%	2.69%	3.44%	3.98%	2.82%	2.47%
Return on Common Equity (ROCE)	14.58%	10.28%	10.20%	12.49%	13.45%	11.47%	10.82%	13.14%	14.61%	12.08%	10.90%
Return on Equity Simple (ROE_SIMPLE)	9.30%	0.00%	9.58%	9.42%	9.49%	0.00%	10.17%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	379	235	249	345	420	316	282	376	471	342	296
NOPAT Margin	32.51%	22.73%	24.65%	29.98%	31.71%	26.27%	24.67%	29.46%	32.46%	26.89%	24.51%
Net Nonoperating Expense Percent (NNEP)	0.48%	0.52%	0.54%	0.55%	0.56%	0.59%	0.57%	0.62%	0.64%	0.70%	0.67%
Return On Investment Capital (ROIC_SIMPLE)	-	1.05%	-	-	-	1.29%	1.12%	1.46%	1.79%	1.28%	1.11%
Cost of Revenue to Revenue	37.36%	45.74%	41.15%	37.16%	37.49%	43.21%	40.98%	37.62%	36.04%	43.12%	40.85%
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	21.68%	25.29%	26.61%	23.76%	21.47%	23.48%	26.53%	24.06%	21.64%	25.02%	26.76%
Earnings before Interest and Taxes (EBIT)	501	315	342	467	563	416	392	505	629	421	410
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	678	496	530	660	763	623	608	726	855	652	647
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.38	2.55	2.35	2.47	2.75	2.33	2.73	2.54	2.49	2.33	2.41
Price to Tangible Book Value (P/TBV)	2.69	2.89	2.66	2.78	3.09	2.62	3.06	2.85	2.78	2.61	2.69
Price to Revenue (P/Rev)	5.70	5.90	5.46	5.74	6.31	5.15	5.97	5.49	5.36	4.92	5.10
Price to Earnings (P/E)	25.62	26.45	24.54	26.18	28.99	22.94	26.85	25.05	24.42	22.77	24.11
Dividend Yield	2.25%	2.17%	2.34%	2.25%	2.01%	2.43%	2.07%	2.24%	2.29%	2.51%	2.43%
Earnings Yield	3.90%	3.78%	4.08%	3.82%	3.45%	4.36%	3.72%	3.99%	4.09%	4.39%	4.15%
Enterprise Value to Invested Capital (EV/IC)	1.63	1.69	1.60	1.64	1.76	1.57	1.73	1.64	1.62	1.54	1.58
Enterprise Value to Revenue (EV/Rev)	8.51	8.75	8.38	8.75	9.25	8.13	8.96	8.52	8.35	8.00	8.09
Enterprise Value to EBITDA (EV/EBITDA)	15.73	16.20	15.50	16.13	17.05	14.79	16.25	15.47	15.06	14.46	14.62
Enterprise Value to EBIT (EV/EBIT)	22.71	23.41	22.43	23.47	24.75	21.31	23.47	22.43	21.81	21.11	21.43
Enterprise Value to NOPAT (EV/NOPAT)	30.15	31.21	30.03	31.57	33.47	28.68	31.69	30.22	29.33	27.99	28.39
Enterprise Value to Operating Cash Flow (EV/OCF)	20.80	19.77	18.32	20.21	21.60	18.63	21.63	21.58	20.81	19.96	20.71
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	1.24	1.27	1.32	1.30	1.30	1.37	1.38	1.41	1.41	1.47	1.42
Long-Term Debt to Equity	1.19	1.20	1.26	1.24	1.22	1.22	1.27	1.16	1.20	1.19	1.16
Financial Leverage	1.33	1.40	1.22	1.24	1.23	1.30	1.32	1.35	1.34	1.41	1.39
Leverage Ratio	3.23	3.32	3.04	3.06	3.04	3.14	3.13	3.13	3.13	3.23	3.17
Compound Leverage Factor	2.62	2.30	2.15	2.36	2.45	2.28	2.15	2.33	2.46	2.16	2.00
Debt to Total Capital	55.34%	55.95%	56.88%	56.54%	56.44%	57.73%	57.93%	58.51%	58.49%	59.50%	58.72%
Short-Term Debt to Total Capital	2.22%	2.94%	2.40%	2.46%	3.36%	6.20%	4.44%	10.52%	8.65%	11.46%	10.70%
Long-Term Debt to Total Capital	53.12%	53.01%	54.48%	54.08%	53.08%	51.53%	53.49%	47.99%	49.84%	48.03%	48.02%
Preferred Equity to Total Capital	0.01%	0.01%	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	44.66%	44.05%	43.12%	43.46%	43.56%	42.27%	42.07%	41.49%	41.51%	40.50%	41.28%
Debt to EBITDA	5.48	5.44	5.67	5.59	5.48	5.48	5.47	5.54	5.47	5.60	5.45
Net Debt to EBITDA	5.19	5.28	5.40	5.54	5.41	5.43	5.42	5.50	5.40	5.56	5.40
Long-Term Debt to EBITDA	5.26	5.15	5.43	5.34	5.16	4.89	5.05	4.54	4.66	4.52	4.46
Debt to NOPAT	10.51	10.48	10.98	10.93	10.76	10.62	10.66	10.82	10.64	10.84	10.58
Net Debt to NOPAT	9.95	10.17	10.46	10.85	10.63	10.53	10.56	10.74	10.52	10.76	10.48
Long-Term Debt to NOPAT	10.09	9.93	10.51	10.45	10.12	9.48	9.84	8.87	9.07	8.75	8.66
Altman Z-Score	0.99	0.95	0.92	0.97	1.06	0.85	1.00	0.90	0.92	0.82	0.87
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	1.04	0.65	0.85	0.64	0.58	0.39	0.49	0.35	0.42	0.46	0.37
Quick Ratio	0.76	0.45	0.66	0.43	0.42	0.26	0.34	0.24	0.29	0.36	0.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,562	-1,610	-1,674	-1,798	-1,704	-2,141	-2,047	-2,005	-2,020	-2,010	-1,384
Operating Cash Flow to CapEx	101.12%	66.21%	62.73%	51.49%	99.41%	71.48%	60.40%	41.06%	95.86%	63.26%	46.28%
Free Cash Flow to Firm to Interest Expense	-13.35	-13.65	-13.50	-13.73	-12.91	-15.75	-14.22	-13.28	-12.78	-12.41	-8.49
Operating Cash Flow to Interest Expense	5.41	4.47	3.08	2.63	5.14	4.70	2.30	1.99	4.84	4.09	1.87
Operating Cash Flow Less CapEx to Interest Expense	0.06	-2.28	-1.83	-2.48	-0.03	-1.88	-1.51	-2.86	-0.21	-2.38	-2.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.15	0.15	0.14	0.15	0.15	0.15	0.15	0.15	0.15	0.15
Accounts Receivable Turnover	6.21	6.77	6.91	6.17	6.17	6.83	7.13	6.22	6.11	6.59	6.72
Inventory Turnover	16.48	16.38	15.99	15.92	16.77	17.28	17.21	17.85	18.60	18.78	18.50
Fixed Asset Turnover	0.17	0.17	0.17	0.17	0.17	0.18	0.18	0.18	0.18	0.18	0.18
Accounts Payable Turnover	7.50	6.28	8.22	7.60	7.44	5.81	8.11	7.54	7.09	5.58	7.98
Days Sales Outstanding (DSO)	58.77	53.88	52.80	59.16	59.14	53.46	51.21	58.64	59.72	55.35	54.31
Days Inventory Outstanding (DIO)	22.15	22.28	22.83	22.93	21.77	21.12	21.21	20.45	19.63	19.43	19.73
Days Payable Outstanding (DPO)	48.64	58.15	44.39	48.05	49.08	62.86	45.00	48.44	51.45	65.44	45.71
Cash Conversion Cycle (CCC)	32.28	18.02	31.23	34.04	31.83	11.71	27.41	30.66	27.89	9.34	28.33
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	21,541	21,885	22,626	23,286	23,665	24,342	24,955	25,667	26,156	26,694	26,635
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	1,941	1,845	1,923	2,143	2,124	2,457	2,329	2,381	2,491	2,352	1,680
Enterprise Value (EV)	35,174	37,053	36,112	38,139	41,760	38,101	43,136	42,083	42,353	41,094	42,111
Market Capitalization	23,568	24,972	23,534	25,028	28,497	24,113	28,759	27,128	27,156	25,292	26,566
Book Value per Share	$50.84	$50.32	$51.32	$52.11	$53.18	$53.01	$54.04	$54.78	$55.91	$55.54	$56.54
Tangible Book Value per Share	$44.97	$44.45	$45.46	$46.24	$47.31	$47.14	$48.17	$48.87	$50.01	$49.61	$50.62
Total Capital	22,161	22,239	23,208	23,358	23,789	24,442	25,040	25,745	26,278	26,755	26,735
Total Debt	12,264	12,442	13,201	13,206	13,427	14,110	14,506	15,063	15,371	15,918	15,698
Total Long-Term Debt	11,772	11,788	12,644	12,631	12,627	12,594	13,393	12,355	13,097	12,851	12,838
Net Debt	11,603	12,078	12,575	13,108	13,260	13,985	14,374	14,952	15,194	15,799	15,542
Capital Expenditures (CapEx)	626	796	609	670	683	894	548	733	797	1,048	659
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-108	-472	-339	-183	-262	-544	-272	5.00	-38	392	110
Debt-free Net Working Capital (DFNWC)	553	-108	287	-85	-95	-419	-140	116	139	511	266
Net Working Capital (NWC)	61	-762	-270	-660	-895	-1,935	-1,253	-2,592	-2,135	-2,556	-2,594
Net Nonoperating Expense (NNE)	56	64	64	68	70	77	77	87	92	104	100
Net Nonoperating Obligations (NNO)	11,644	12,088	12,619	13,134	13,303	14,010	14,421	14,985	15,249	15,857	15,598
Total Depreciation and Amortization (D&A)	177	181	188	193	200	207	216	221	226	231	237
Debt-free, Cash-free Net Working Capital to Revenue	-2.61%	-11.15%	-7.87%	-4.20%	-5.80%	-11.61%	-5.65%	0.10%	-0.75%	7.63%	2.11%
Debt-free Net Working Capital to Revenue	13.38%	-2.55%	6.66%	-1.95%	-2.10%	-8.95%	-2.91%	2.35%	2.74%	9.94%	5.11%
Net Working Capital to Revenue	1.48%	-18.00%	-6.27%	-15.14%	-19.82%	-41.31%	-26.02%	-52.45%	-42.11%	-49.73%	-49.84%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.66	$0.89	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48	$1.94	$1.22	$1.00
Adjusted Weighted Average Basic Shares Outstanding	195M	193M	195M	195M	195M	195M	195M	195M	195M	195M	195M
Adjusted Diluted Earnings per Share	$1.66	$0.89	$0.95	$1.42	$1.80	$1.22	$1.05	$1.48	$1.94	$1.22	$1.00
Adjusted Weighted Average Diluted Shares Outstanding	195M	193M	195M	195M	195M	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	194.70M	194.76M	194.82M	194.86M	194.89M	194.95M	195.01M	195.10M	195.12M	195.21M	195.28M
Normalized Net Operating Profit after Tax (NOPAT)	379	235	249	345	420	316	282	376	471	342	296
Normalized NOPAT Margin	32.51%	22.73%	24.65%	29.98%	31.71%	26.27%	24.67%	29.46%	32.46%	26.89%	24.51%
Pre Tax Income Margin	34.88%	21.12%	23.94%	31.42%	34.24%	25.23%	23.64%	29.47%	34.05%	22.19%	21.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.28	2.67	2.76	3.56	4.27	3.06	2.72	3.34	3.98	2.60	2.52
NOPAT to Interest Expense	3.24	1.99	2.01	2.63	3.18	2.32	1.96	2.49	2.98	2.11	1.82
EBIT Less CapEx to Interest Expense	-1.07	-4.08	-2.15	-1.55	-0.91	-3.51	-1.08	-1.51	-1.06	-3.87	-1.53
NOPAT Less CapEx to Interest Expense	-2.11	-4.76	-2.90	-2.48	-2.00	-4.25	-1.85	-2.37	-2.06	-4.36	-2.23
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	55.87%	56.36%	57.46%	58.79%	58.29%	55.66%	55.65%	56.23%	55.85%	56.98%	58.62%
Augmented Payout Ratio	55.87%	56.36%	57.46%	58.79%	58.29%	55.66%	55.65%	56.23%	55.85%	56.98%	58.62%

Financials Breakdown Chart

Key Financial Trends

Here are key takeaways for American Water Works (AWK) based on the company's quarterly statements over the last four years. The notes focus on trends in revenue, cash flow, capital spending, leverage, and shareholder returns.

Revenue growth: Operating Revenue rose from about $0.931B in Q4 2022 to $1.271B in Q4 2025, indicating a multi-year expansion of the rate base and top-line.
Robust operating cash flow in late 2025: Net cash from continuing operating activities was about $663M in Q4 2025, up from about $639M in Q4 2024, with a prior quarter (Q3 2025) near $764M, underscoring strong cash generation to fund growth and returns.
Balance sheet growth and stability: Total assets around $34.7B in 2025 (Q3), with total equity (Total Common Equity) around $10.9B, rising from roughly $10.5B earlier in 2025, showing a growing but stable capital base.
Dividend per share trending higher: Cash dividends per share increased from about $0.7075 in Q1 2025 to $0.8275 in Q2 2025, signaling continued shareholder returns.
Ongoing capital investment supports growth: Quarterly purchases of property, plant & equipment (capex) have been sizable (e.g., Q4 2025: $1.048B; Q3 2025: $0.797B; Q2 2025: $0.733B; Q1 2025: $0.548B), reflecting a persistent rate-base expansion and long-cycle investments.
Financing activity provides funding flexibility: Net cash from financing activities was positive in multiple 2025 quarters (Q1 2025 around $613M; Q2 2025 about $254M; Q3 2025 about $149M; Q4 2025 about $397M), supporting the capital program and dividends.
Leverage and debt funding: Long-term debt levels rose through 2025 (Q2 2025 approx. $12.28B; Q3 2025 approx. $13.02B), indicating ongoing debt-funded capital investments typical for regulated utilities.
Investing cash flows are negative (as expected): Net cash from investing activities were consistently negative due to capex and acquisitions (e.g., Q4 2025: -$1.13B; Q3 2025: -$0.839B; Q1 2025: -$0.568B), reflecting heavy investment activity rather than a sign of weakness.
Earnings volatility by quarter: Net income from continuing operations ranged from about $238M (Q4 2025) to $379M (Q3 2025) in 2025, showing quarterly fluctuations but solid overall profitability within a regulated framework.
Leverage risk and ongoing interest burden: Total liabilities were around $23.8B by Q3 2025, with quarterly interest expense in the ~$140–162M range (e.g., Q4 2025 interest expense $162M), underscoring a meaningful interest load tied to a rising debt base. This could pressure future returns if rates or capex needs accelerate.

05/21/26 03:49 PM ETAI Generated. May Contain Errors.

American Water Works Financials - Frequently Asked Questions

According to the most recent income statement we have on file, American Water Works' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

American Water Works' net income appears to be on an upward trend, with a most recent value of $1.11 billion in 2025, rising from $476 million in 2015. The previous period was $1.05 billion in 2024. See where experts think American Water Works is headed by visiting American Water Works' forecast page.

American Water Works' total operating income in 2025 was $1.88 billion, based on the following breakdown:

Total Gross Profit: $3.12 billion
Total Operating Expenses: $1.24 billion

Over the last 10 years, American Water Works' total revenue changed from $3.16 billion in 2015 to $5.14 billion in 2025, a change of 62.7%.

American Water Works' total liabilities were at $24.60 billion at the end of 2025, a 9.4% increase from 2024, and a 102.0% increase since 2015.

In the past 10 years, American Water Works' cash and equivalents has ranged from $45 million in 2015 to $547 million in 2020, and is currently $98 million as of their latest financial filing in 2025.

Over the last 10 years, American Water Works' book value per share changed from 28.13 in 2015 to 55.54 in 2025, a change of 97.4%.

Related Companies

Financial statements for NYSE:AWK last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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American Water Works (AWK) Financials

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American Water Works (AWK) Financials

Annual Income Statements for American Water Works

Quarterly Income Statements for American Water Works

Annual Cash Flow Statements for American Water Works

Quarterly Cash Flow Statements for American Water Works

Annual Balance Sheets for American Water Works

Quarterly Balance Sheets for American Water Works

Annual Metrics And Ratios for American Water Works

Quarterly Metrics And Ratios for American Water Works

Financials Breakdown Chart

Key Financial Trends

American Water Works Financials - Frequently Asked Questions

When does American Water Works' financial year end?

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

What is American Water Works' operating income?

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

How much debt does American Water Works have?

How much cash does American Water Works have?

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

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