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American States Water (AWR) Financials

American States Water logo
$77.43 -0.26 (-0.33%)
Closing price 05/13/2026 03:59 PM Eastern
Extended Trading
$77.76 +0.33 (+0.43%)
As of 07:43 AM Eastern
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Annual Income Statements for American States Water

Annual Income Statements for American States Water

This table shows American States Water's 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		 60 60 69 64 84 86 94 78 125 119 130
Consolidated Net Income / (Loss)		 60 60 69 64 84 86 94 78 125 119 130
Net Income / (Loss) Continuing Operations		 60 60 69 64 84 86 94 78 125 119 130
Total Pre-Tax Income 		98 94 108 82 109 115 125 102 167 149 170
Total Operating Income		 118 114 127 101 127 130 141 127 197 184 203
Total Gross Profit		 431 409 365 287 319 325 407 425 524 521 459
Total Revenue		 459 436 441 437 474 488 499 492 596 595 658
Operating Revenue		 459 436 441 437 474 488 499 492 596 595 658
Total Cost of Revenue		 27 27 76 150 155 163 92 67 72 75 199
Operating Cost of Revenue		 27 27 76 150 155 163 92 67 72 75 199
Total Operating Expenses		 313 295 238 186 192 195 266 298 327 336 256
Selling, General & Admin Expense		 108 110 112 114 116 117 118 124 129 142 150
Marketing Expense		 14 15 19 19 19 20 19 19 21 24 21
Depreciation Expense		 42 39 39 40 35 37 40 41 42 44 48
Other Operating Expenses / (Income)		 96 78 77 12 22 21 89 114 135 126 37
Impairment Charge		 0.00 0.00 -8.32 -0.09 -0.25 0.03 -0.47 -0.08 -0.10 0.00 0.00
Total Other Income / (Expense), net		 -20 -20 -19 -19 -18 -16 -16 -25 -30 -35 -33
Interest Expense		 21 22 23 23 25 23 23 27 43 50 47
Interest & Investment Income		 0.46 0.76 1.79 3.58 3.25 1.80 1.49 2.33 7.42 7.87 5.65
Other Income / (Expense), net		 0.36 1.52 2.04 0.76 3.28 4.85 5.13 0.13 5.13 7.47 7.65
Income Tax Expense		 38 35 39 18 25 28 30 24 42 30 39
Basic Earnings per Share		 $1.61 $1.63 $1.88 $1.73 $2.28 $2.34 $2.55 $2.12 $3.37 $3.17 $3.37
Weighted Average Basic Shares Outstanding		 37.39M 36.55M 36.64M 36.73M 36.81M 36.88M 36.92M 36.96M 36.98M 37.46M 38.55M
Diluted Earnings per Share		 $1.60 $1.62 $1.88 $1.72 $2.28 $2.33 $2.55 $2.11 $3.36 $3.17 $3.37
Weighted Average Diluted Shares Outstanding		 37.61M 36.75M 36.84M 36.94M 36.96M 37.00M 37.01M 37.04M 37.08M 37.58M 38.67M
Weighted Average Basic & Diluted Shares Outstanding		 37.60M 36.70M 36.90M 36.90M 36.86M 36.90M 36.95M 36.97M 36.99M 38.16M 39.08M
Cash Dividends to Common per Share		 $0.87 $0.91 $0.99 $1.06 $1.16 $1.28 $1.40 $1.53 $1.66 $1.79 $1.94

Quarterly Income Statements for American States Water

This table shows American States Water's 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		 32 20 23 32 36 28 27 34 41 29 30
Consolidated Net Income / (Loss)		 32 20 23 32 36 28 27 34 41 29 30
Net Income / (Loss) Continuing Operations		 32 20 23 32 36 28 27 34 41 29 30
Total Pre-Tax Income 		41 29 31 42 46 31 35 44 54 36 40
Total Operating Income		 52 35 39 52 55 39 46 51 62 45 51
Total Gross Profit		 148 -15 132 152 151 81 138 157 174 -15 159
Total Revenue		 152 125 135 155 162 143 148 163 183 164 169
Operating Revenue		 152 125 135 155 162 143 148 163 183 164 169
Total Cost of Revenue		 4.10 140 3.23 3.54 11 62 10 6.13 8.77 180 10
Operating Cost of Revenue		 4.10 140 3.23 3.54 11 62 10 6.13 8.77 180 10
Total Operating Expenses		 96 -49 93 100 96 43 92 106 112 -60 107
Selling, General & Admin Expense		 31 32 35 34 35 38 37 38 37 38 39
Marketing Expense		 5.99 5.66 4.85 5.82 6.97 6.50 5.68 6.13 6.97 2.71 5.53
Depreciation Expense		 10 11 11 11 11 11 12 12 12 13 13
Other Operating Expenses / (Income)		 48 -98 43 49 42 -13 38 51 56 -113 50
Total Other Income / (Expense), net		 -11 -6.36 -8.44 -9.53 -9.18 -7.90 -10 -7.03 -7.64 -8.56 -12
Interest Expense		 12 11 13 13 13 11 12 12 12 11 12
Interest & Investment Income		 2.13 1.62 2.07 2.09 1.74 1.97 2.01 1.50 1.06 1.08 0.98
Other Income / (Expense), net		 -1.07 2.88 2.34 1.52 2.31 1.30 -0.17 3.58 3.01 1.24 -0.42
Income Tax Expense		 9.55 8.10 7.40 10 10 2.36 8.46 10 13 7.73 9.87
Basic Earnings per Share		 $0.85 $0.55 $0.62 $0.85 $0.95 $0.75 $0.70 $0.87 $1.06 $0.74 $0.76
Weighted Average Basic Shares Outstanding		 36.98M 36.98M 37.03M 37.31M 37.56M 37.46M 38.25M 38.51M 38.57M 38.55M 39.11M
Diluted Earnings per Share		 $0.85 $0.54 $0.62 $0.85 $0.95 $0.75 $0.70 $0.87 $1.06 $0.74 $0.76
Weighted Average Diluted Shares Outstanding		 37.07M 37.08M 37.11M 37.42M 37.68M 37.58M 38.35M 38.64M 38.70M 38.67M 39.21M
Weighted Average Basic & Diluted Shares Outstanding		 36.98M 36.99M 37.23M 37.46M 37.80M 38.16M 38.51M 38.51M 38.71M 39.08M 39.19M
Cash Dividends to Common per Share		 $0.43 $0.43 $0.43 $0.43 $0.47 $0.47 $0.47 $0.47 $0.50 $0.50 $0.50

Annual Cash Flow Statements for American States Water

This table details how cash moves in and out of American States Water's 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		 -72 -3.93 -0.22 6.93 -5.81 35 -32 1.03 8.08 13 -7.84
Net Cash From Operating Activities		 95 97 145 137 117 122 116 118 68 199 230
Net Cash From Continuing Operating Activities		 95 97 145 137 117 120 116 118 68 199 228
Net Income / (Loss) Continuing Operations		 60 60 69 64 84 86 94 78 125 119 130
Consolidated Net Income / (Loss)		 60 60 69 64 84 86 94 78 125 119 130
Depreciation Expense		 43 39 39 41 36 37 40 42 43 44 49
Non-Cash Adjustments To Reconcile Net Income		 5.31 0.15 -1.23 -6.95 -0.57 -11 -6.50 7.50 -7.20 4.56 -3.46
Changes in Operating Assets and Liabilities, net		 -13 -2.06 37 39 -2.62 7.79 -12 -9.79 -93 31 53
Net Cash From Investing Activities		 -90 -131 -80 -128 -153 -132 -145 -167 -189 -233 -238
Net Cash From Continuing Investing Activities		 -90 -131 -80 -128 -153 -133 -145 -167 -189 -233 -238
Purchase of Property, Plant & Equipment		 -87 -130 -113 -127 -152 -130 -145 -166 -189 -232 -237
Other Investing Activities, net		 0.00 - -1.23 -1.55 -1.42 -1.28 -0.58 -0.86 -0.22 -0.82 -0.72
Net Cash From Financing Activities		 -77 30 -65 -1.81 31 45 -2.27 50 129 47 -0.03
Net Cash From Continuing Financing Activities		 -77 30 -65 -1.81 31 -77 -2.27 50 129 47 -0.03
Repayment of Debt		 -4.85 -5.72 -4.22 -4.21 -45 -77 38 66 50 -50 -154
Payment of Dividends		 -33 -33 -36 -39 -43 -70 -52 -56 -61 -67 -75
Issuance of Debt		 0.00 0.00 -31 37 110 159 0.00 35 130 65 149
Issuance of Common Equity		 1.20 0.24 0.91 0.55 0.52 60 - - - 89 67
Other Financing Activities, net		 33 69 5.98 4.30 8.54 -151 11 5.60 11 10 13

Quarterly Cash Flow Statements for American States Water

This table details how cash moves in and out of American States Water's 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		 7.58 5.47 2.09 2.66 13 10 -31 25 5.83 -7.25 3.33
Net Cash From Operating Activities		 39 11 46 25 64 65 45 65 92 28 72
Net Cash From Continuing Operating Activities		 39 11 45 25 64 64 45 65 93 26 72
Net Income / (Loss) Continuing Operations		 32 20 23 32 36 28 27 34 41 29 30
Consolidated Net Income / (Loss)		 32 20 23 32 36 28 27 34 41 29 30
Depreciation Expense		 10 11 11 11 11 11 12 12 12 13 13
Non-Cash Adjustments To Reconcile Net Income		 1.75 3.19 5.46 -8.23 2.72 4.61 -0.17 6.72 0.92 -11 15
Changes in Operating Assets and Liabilities, net		 -4.90 -23 5.49 -9.99 15 20 6.54 12 39 -4.82 14
Net Cash From Investing Activities		 -47 -54 -47 -61 -64 -60 -67 -51 -54 -65 -49
Net Cash From Continuing Investing Activities		 -47 -54 -47 -61 -64 -60 -67 -51 -54 -65 -49
Purchase of Property, Plant & Equipment		 -47 -52 -48 -62 -64 -58 -68 -51 -55 -64 -49
Other Investing Activities, net		 0.13 -1.18 0.14 0.27 0.22 -1.44 0.19 -0.05 0.28 -1.15 0.20
Net Cash From Financing Activities		 16 48 4.54 23 13 5.60 17 -15 -32 30 -19
Net Cash From Continuing Financing Activities		 16 48 4.54 39 13 5.60 -8.84 11 -32 30 -19
Repayment of Debt		 29 59 -0.87 -41 0.96 -9.00 -42 -99 -30 16 -10
Payment of Dividends		 -16 -16 -16 -16 -17 -18 -18 -18 -19 -20 -20
Issuance of Debt		 - - 4.00 61 -0.05 - 50 99 -0.04 - 0.00
Issuance of Common Equity		 - - 16 - 27 30 - - 15 27 6.23
Other Financing Activities, net		 2.59 4.68 1.22 3.31 2.80 2.72 0.67 2.54 2.77 6.67 4.29

Annual Balance Sheets for American States Water

This table presents American States Water's 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		 1,344 1,470 1,417 1,501 1,641 1,792 1,901 2,034 2,246 2,500 2,715
Total Current Assets		 133 167 155 131 122 157 138 151 206 233 231
Cash & Equivalents		 4.36 0.44 0.21 7.14 1.33 37 4.96 6.00 14 27 19
Accounts Receivable		 79 97 106 72 67 84 96 86 113 114 119
Inventories, net		 5.42 4.29 4.80 5.78 6.43 8.62 12 15 18 15 16
Prepaid Expenses		 3.23 3.74 5.60 6.06 5.41 5.56 5.32 5.45 5.77 7.29 7.55
Current Deferred & Refundable Income Taxes		 11 18 4.74 2.16 5.69 0.10 0.24 3.90 0.05 0.07 0.00
Other Current Assets		 30 43 34 39 36 22 19 35 55 71 71
Plant, Property, & Equipment, net		 1,061 1,151 1,205 1,296 1,416 1,512 1,626 1,754 1,892 2,100 2,296
Plant, Property & Equipment, gross		 1,590 1,684 1,738 1,858 1,959 2,080 2,220 2,360 2,517 2,748 2,950
Accumulated Depreciation		 530 533 533 562 543 568 594 606 624 648 654
Total Noncurrent Assets		 150 153 56 74 103 122 137 129 148 167 188
Long-Term Investments		 19 21 24 25 30 35 41 37 43 50 59
Noncurrent Note & Lease Receivables		 - - - - - - - - - - 1.26
Other Noncurrent Operating Assets		 131 131 31 47 72 86 95 91 105 117 128
Total Liabilities & Shareholders' Equity		 1,344 1,470 1,417 1,501 1,641 1,792 1,901 2,034 2,246 2,500 2,715
Total Liabilities		 890 1,038 890 943 1,040 1,150 1,215 1,325 1,470 1,580 1,670
Total Current Liabilities		 136 240 157 147 116 119 156 397 167 286 175
Short-Term Debt		 28 90 59 40 5.34 0.36 31 256 42 124 8.21
Accounts Payable		 63 105 51 60 56 64 66 85 69 89 86
Accrued Expenses		 3.63 3.86 - - 11 - - 16 15 17 11
Current Deferred & Payable Income Tax Liabilities		 0.07 0.15 0.23 0.36 0.10 6.78 4.66 1.85 0.49 0.48 1.17
Current Employee Benefit Liabilities		 12 12 13 14 14 15 16 14 15 16 16
Other Taxes Payable		 8.14 9.11 7.34 10 - - - - - - 13
Other Current Liabilities		 17 16 18 11 15 28 33 17 16 26 29
Other Current Nonoperating Liabilities		 - - 3.86 3.87 3.05 4.83 4.55 5.31 8.61 8.13 9.55
Total Noncurrent Liabilities		 755 798 733 797 924 1,031 1,059 928 1,303 1,295 1,495
Long-Term Debt		 321 321 321 377 481 575 587 469 867 805 924
Asset Retirement Reserve & Litigation Obligation		 - 0.00 32 45 23 0.00 33 41 1.22 23 60
Noncurrent Deferred Revenue		 186 190 67 66 64 63 67 64 67 70 78
Noncurrent Deferred & Payable Income Tax Liabilities		 194 226 117 116 127 132 141 151 163 181 195
Noncurrent Employee Benefit Liabilities		 53 61 58 58 68 96 61 34 33 34 37
Other Noncurrent Operating Liabilities		 - - 138 136 160 165 170 170 172 182 201
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		 466 494 530 558 602 642 686 710 776 920 1,046
Total Preferred & Common Equity		 466 494 530 558 602 642 686 710 776 920 1,046
Total Common Equity		 466 494 530 558 602 642 686 710 776 920 1,046
Common Stock		 466 494 530 558 602 642 686 710 776 920 425
Retained Earnings		 - - - - - - - - - - 620

Quarterly Balance Sheets for American States Water

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

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,983 2,060 2,140 2,205 2,293 2,348 2,421 2,545 2,611 2,655 2,734
Total Current Assets		 139 140 169 192 205 210 222 238 252 251 221
Cash & Equivalents		 2.26 2.13 1.03 8.60 17 3.58 16 21 20 26 22
Accounts Receivable		 86 88 100 116 102 119 119 110 129 124 109
Inventories, net		 13 16 17 16 16 17 16 16 16 17 17
Prepaid Expenses		 7.29 12 9.17 6.53 12 9.04 6.95 14 11 8.20 14
Current Deferred & Refundable Income Taxes		 0.09 0.04 0.07 0.06 0.00 0.00 2.13 0.03 0.00 0.00 0.00
Other Current Assets		 30 21 42 45 59 62 62 78 76 76 60
Plant, Property, & Equipment, net		 1,718 1,780 1,814 1,850 1,934 1,982 2,041 2,137 2,194 2,241 2,330
Plant, Property & Equipment, gross		 2,322 2,397 2,431 2,473 2,566 2,621 2,682 2,791 2,856 2,899 2,993
Accumulated Depreciation		 604 616 617 623 633 639 641 654 662 658 663
Total Noncurrent Assets		 126 140 157 163 154 157 158 170 165 164 183
Long-Term Investments		 34 38 40 38 45 46 48 50 53 56 57
Noncurrent Note & Lease Receivables		 7.26 7.79 6.82 5.85 5.93 5.30 4.21 2.80 2.18 1.72 0.96
Other Noncurrent Operating Assets		 83 93 109 118 102 105 104 117 110 106 125
Total Liabilities & Shareholders' Equity		 1,983 2,060 2,140 2,205 2,293 2,348 2,421 2,545 2,611 2,655 2,734
Total Liabilities		 1,277 1,330 1,373 1,434 1,492 1,515 1,541 1,589 1,638 1,646 1,670
Total Current Liabilities		 373 308 141 195 179 299 321 294 162 197 182
Short-Term Debt		 239 176 0.41 37 43 167 177 143 0.40 5.48 8.21
Accounts Payable		 70 66 71 72 70 72 77 68 76 82 79
Accrued Expenses		 7.23 8.41 - 11 12 12 12 11 11 12 12
Current Deferred & Payable Income Tax Liabilities		 5.46 11 19 29 5.11 4.25 0.16 6.76 14 27 12
Current Employee Benefit Liabilities		 16 17 13 15 18 13 16 19 13 16 20
Other Taxes Payable		 16 14 15 17 13 13 16 14 14 16 9.75
Other Current Liabilities		 20 15 4.09 4.75 8.61 8.73 14 23 23 27 30
Other Current Nonoperating Liabilities		 - - 7.80 8.95 9.00 8.35 9.62 9.80 9.46 11 11
Total Noncurrent Liabilities		 904 1,022 1,244 1,239 1,314 1,216 1,220 1,295 1,476 1,448 1,489
Long-Term Debt		 450 601 819 812 870 768 760 796 942 909 915
Asset Retirement Reserve & Litigation Obligation		 18 1.78 0.00 0.00 1.12 0.75 3.90 27 44 47 56
Noncurrent Deferred Revenue		 65 64 64 64 69 69 70 70 75 76 82
Noncurrent Deferred & Payable Income Tax Liabilities		 144 149 154 157 167 169 177 185 190 192 196
Noncurrent Employee Benefit Liabilities		 59 35 36 34 34 34 32 34 35 32 37
Other Noncurrent Operating Liabilities		 169 171 170 171 173 175 176 182 191 192 204
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		 706 731 755 771 800 833 879 956 973 1,009 1,064
Total Preferred & Common Equity		 706 731 755 771 800 833 879 956 973 1,009 1,064
Total Common Equity		 706 731 755 771 800 833 879 956 973 1,009 1,064
Common Stock		 260 262 262 263 280 298 325 382 383 398 433
Retained Earnings		 445 469 493 508 520 536 554 574 590 611 631

Annual Metrics And Ratios for American States Water

This table displays calculated financial ratios and metrics derived from American States Water's 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		 -1.54% -4.92% 1.04% -0.86% 8.48% 3.03% 2.17% -1.47% 21.19% -0.04% 10.52%
EBITDA Growth		 -0.02% -4.15% 8.77% -15.44% 16.61% 3.91% 7.84% -9.47% 45.51% -3.65% 10.00%
EBIT Growth		 -0.79% -2.64% 11.60% -21.21% 28.12% 3.84% 7.95% -13.24% 59.25% -4.91% 9.89%
NOPAT Growth		 -0.51% -1.04% 12.69% -3.21% 24.82% 0.08% 8.34% -8.75% 51.73% -0.24% 6.06%
Net Income Growth		 -0.94% -1.23% 16.11% -7.92% 32.05% 2.47% 9.17% -16.91% 59.35% -4.53% 9.37%
EPS Growth		 1.91% 1.25% 16.05% -8.51% 32.56% 2.19% 9.44% -17.25% 59.24% -5.65% 6.31%
Operating Cash Flow Growth		 -41.73% 1.90% 49.10% -5.38% -14.56% 4.54% -5.39% 1.92% -42.54% 193.62% 15.60%
Free Cash Flow Firm Growth		 -540.60% 106.68% -42.59% 12.74% -175.37% 157.55% -181.81% -433.15% -156.20% 103.74% 689.38%
Invested Capital Growth		 197.01% 5.45% 7.82% 6.71% 11.92% 8.50% 9.87% 10.58% 17.24% 8.78% 7.23%
Revenue Q/Q Growth		 0.00% 0.00% -0.59% 1.59% 0.42% 2.35% -1.50% 1.81% -0.03% 3.10% 3.33%
EBITDA Q/Q Growth		 288.65% 290.53% 0.13% -0.08% 1.56% 3.97% 0.64% -0.92% 3.19% 1.15% 3.10%
EBIT Q/Q Growth		 0.00% 0.00% 0.26% -0.87% 3.38% 4.49% 0.28% -1.59% 3.94% 1.17% 3.07%
NOPAT Q/Q Growth		 0.00% 0.00% 2.00% 2.58% 2.40% 2.01% 0.40% 0.03% 2.03% 7.79% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 2.45% 1.46% 3.57% 4.23% 0.15% -2.15% 1.46% 7.20% 0.24%
EPS Q/Q Growth		 0.00% 0.00% 2.73% 1.18% 3.64% 4.02% 0.39% -2.31% 1.20% 7.09% -0.30%
Operating Cash Flow Q/Q Growth		 -26.41% 12.01% 3.50% 3.05% 3.72% 1.47% -0.57% -4.69% -19.79% 36.70% -13.81%
Free Cash Flow Firm Q/Q Growth		 -3,244.38% 129.61% -79.29% -15.52% 29.98% 160.26% -82.54% -53.84% -14.62% 108.33% -57.46%
Invested Capital Q/Q Growth		 1.93% -4.96% 2.76% 3.20% 2.46% 1.98% 2.09% 2.84% 3.37% 1.06% 3.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 94.05% 93.84% 82.81% 65.64% 67.24% 66.60% 81.55% 86.46% 73.43% 87.44% 69.82%
EBITDA Margin		 35.22% 35.50% 38.22% 32.60% 35.04% 35.34% 37.30% 34.27% 41.15% 39.66% 39.48%
Operating Margin		 25.83% 26.19% 28.85% 23.12% 26.82% 26.73% 28.26% 25.76% 33.03% 30.98% 30.89%
EBIT Margin		 25.91% 26.53% 29.31% 23.29% 27.51% 27.72% 29.29% 25.79% 33.89% 32.24% 32.05%
Profit (Net Income) Margin		 13.19% 13.70% 15.74% 14.62% 17.80% 17.70% 18.91% 15.95% 20.97% 20.03% 19.82%
Tax Burden Percent		 61.58% 63.23% 64.03% 78.00% 77.37% 75.40% 75.62% 76.81% 75.02% 79.81% 76.82%
Interest Burden Percent		 82.64% 81.65% 83.90% 80.49% 83.63% 84.68% 85.39% 80.51% 82.49% 77.85% 80.50%
Effective Tax Rate		 38.42% 36.77% 35.97% 22.00% 22.63% 24.60% 24.38% 23.19% 24.98% 20.19% 23.18%
Return on Invested Capital (ROIC)		 14.00% 9.01% 9.52% 8.59% 9.80% 8.91% 8.84% 7.32% 9.73% 8.62% 8.46%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.67% 5.13% 6.02% 4.60% 6.50% 6.43% 6.58% 4.33% 6.80% 5.37% 5.48%
Return on Net Nonoperating Assets (RNNOA)		 11.97% 3.43% 4.03% 3.15% 4.74% 4.99% 5.37% 3.92% 7.09% 5.45% 4.81%
Return on Equity (ROE)		 25.96% 12.44% 13.55% 11.74% 14.54% 13.90% 14.21% 11.24% 16.82% 14.06% 13.27%
Cash Return on Invested Capital (CROIC)		 -85.25% 3.70% 1.99% 2.10% -1.44% 0.75% -0.57% -2.73% -6.14% 0.20% 1.49%
Operating Return on Assets (OROA)		 8.73% 8.22% 8.95% 6.97% 8.30% 7.89% 7.91% 6.44% 9.43% 8.09% 8.09%
Return on Assets (ROA)		 4.44% 4.25% 4.81% 4.38% 5.37% 5.04% 5.11% 3.98% 5.84% 5.03% 5.00%
Return on Common Equity (ROCE)		 25.96% 12.44% 13.55% 11.74% 14.54% 13.90% 14.21% 11.24% 16.82% 14.06% 13.27%
Return on Equity Simple (ROE_SIMPLE)		 12.98% 12.09% 13.09% 11.44% 14.02% 13.47% 13.75% 11.05% 16.10% 12.96% 0.00%
Net Operating Profit after Tax (NOPAT)		 73 72 81 79 98 98 107 97 148 147 156
NOPAT Margin		 15.91% 16.56% 18.47% 18.03% 20.75% 20.15% 21.37% 19.79% 24.78% 24.73% 23.73%
Net Nonoperating Expense Percent (NNEP)		 4.33% 3.88% 3.50% 4.00% 3.30% 2.48% 2.26% 2.99% 2.93% 3.25% 2.98%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 6.78% 8.76% 7.96% 7.90%
Cost of Revenue to Revenue		 5.95% 6.16% 17.19% 34.36% 32.76% 33.40% 18.45% 13.54% 26.57% 12.56% 30.18%
SG&A Expenses to Revenue		 23.60% 25.17% 25.34% 26.15% 24.44% 23.93% 23.71% 25.29% 21.58% 23.89% 22.77%
R&D to Revenue		 11.51% 12.32% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 68.22% 67.66% 53.97% 42.52% 40.43% 39.87% 53.29% 60.69% 40.40% 56.46% 38.93%
Earnings before Interest and Taxes (EBIT)		 119 116 129 102 130 135 146 127 202 192 211
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 162 155 168 142 166 173 186 168 245 236 260
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.81 2.93 3.56 3.99 4.87 4.26 5.28 4.60 3.72 3.17 2.68
Price to Tangible Book Value (P/TBV)		 2.82 2.94 3.56 4.00 4.88 4.27 5.29 4.60 3.72 3.17 2.68
Price to Revenue (P/Rev)		 2.86 3.32 4.28 5.10 6.18 5.60 7.26 6.64 4.85 4.90 4.26
Price to Earnings (P/E)		 21.67 24.25 27.18 34.86 34.72 31.64 38.38 41.60 23.14 24.48 21.51
Dividend Yield		 2.45% 2.31% 1.93% 1.75% 1.46% 1.73% 1.43% 1.73% 2.12% 2.32% 2.68%
Earnings Yield		 4.62% 4.12% 3.68% 2.87% 2.88% 3.16% 2.61% 2.40% 4.32% 4.09% 4.65%
Enterprise Value to Invested Capital (EV/IC)		 2.10 2.24 2.53 2.76 3.19 2.82 3.32 2.82 2.29 2.12 1.92
Enterprise Value to Revenue (EV/Rev)		 3.57 4.22 5.09 5.98 7.14 6.63 8.41 8.02 6.28 6.33 5.56
Enterprise Value to EBITDA (EV/EBITDA)		 10.13 11.88 13.31 18.34 20.37 18.76 22.54 23.41 15.27 15.97 14.09
Enterprise Value to EBIT (EV/EBIT)		 13.77 15.89 17.36 25.66 25.96 23.92 28.70 31.11 18.54 19.65 17.35
Enterprise Value to NOPAT (EV/NOPAT)		 22.43 25.46 27.54 33.15 34.41 32.90 39.34 40.54 25.36 25.62 23.44
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.20 18.96 15.50 19.09 28.95 26.50 36.28 33.47 55.30 18.98 15.93
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 61.94 131.52 135.92 0.00 388.51 0.00 0.00 0.00 1,083.29 133.18
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.75 0.83 0.72 0.75 0.81 0.90 0.90 1.02 1.17 1.01 0.89
Long-Term Debt to Equity		 0.69 0.65 0.61 0.67 0.80 0.90 0.86 0.66 1.12 0.88 0.88
Financial Leverage		 1.24 0.67 0.67 0.68 0.73 0.78 0.82 0.91 1.04 1.02 0.88
Leverage Ratio		 5.84 2.93 2.82 2.68 2.71 2.76 2.78 2.82 2.88 2.80 2.65
Compound Leverage Factor		 4.83 2.39 2.37 2.16 2.27 2.34 2.38 2.27 2.38 2.18 2.14
Debt to Total Capital		 42.84% 45.42% 41.78% 42.75% 44.71% 47.26% 47.40% 50.52% 53.95% 50.26% 47.13%
Short-Term Debt to Total Capital		 3.47% 9.97% 6.52% 4.13% 0.49% 0.03% 2.41% 17.85% 2.51% 6.72% 0.42%
Long-Term Debt to Total Capital		 39.37% 35.44% 35.27% 38.62% 44.21% 47.23% 44.99% 32.67% 51.44% 43.54% 46.71%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 57.16% 54.58% 58.22% 57.25% 55.29% 52.74% 52.60% 49.48% 46.05% 49.74% 52.87%
Debt to EBITDA		 2.16 2.66 2.26 2.93 2.93 3.33 3.32 4.30 3.71 3.94 3.59
Net Debt to EBITDA		 2.02 2.52 2.11 2.70 2.74 2.91 3.08 4.05 3.48 3.61 3.29
Long-Term Debt to EBITDA		 1.99 2.07 1.91 2.64 2.90 3.33 3.15 2.78 3.54 3.41 3.56
Debt to NOPAT		 4.79 5.70 4.67 5.29 4.95 5.84 5.80 7.45 6.16 6.31 5.97
Net Debt to NOPAT		 4.47 5.40 4.38 4.88 4.63 5.11 5.37 7.01 5.78 5.79 5.47
Long-Term Debt to NOPAT		 4.40 4.45 3.95 4.78 4.89 5.84 5.50 4.82 5.87 5.47 5.92
Altman Z-Score		 1.51 1.33 1.88 1.92 2.25 1.97 2.29 1.78 1.76 1.57 1.53
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		 0.98 0.70 0.99 0.90 1.06 1.33 0.89 0.38 1.24 0.82 1.32
Quick Ratio		 0.61 0.41 0.68 0.54 0.59 1.02 0.65 0.23 0.77 0.49 0.78
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -444 30 17 19 -14 8.33 -6.82 -36 -93 3.48 27
Operating Cash Flow to CapEx		 109.03% 74.65% 183.44% 108.13% 77.00% 93.74% 79.98% 70.86% 35.90% 85.68% 97.01%
Free Cash Flow to Firm to Interest Expense		 -21.08 1.35 0.75 0.82 -0.59 0.37 -0.30 -1.34 -2.18 0.07 0.59
Operating Cash Flow to Interest Expense		 4.51 4.41 6.40 5.84 4.75 5.42 5.06 4.36 1.58 3.94 4.91
Operating Cash Flow Less CapEx to Interest Expense		 0.37 -1.50 2.91 0.44 -1.42 -0.36 -1.27 -1.79 -2.83 -0.66 -0.15
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.34 0.31 0.31 0.30 0.30 0.28 0.27 0.25 0.28 0.25 0.25
Accounts Receivable Turnover		 5.54 4.96 4.34 4.92 6.83 6.46 5.54 5.40 5.97 5.25 5.70
Inventory Turnover		 6.06 5.53 16.67 28.40 25.44 21.68 8.86 4.97 9.83 4.57 12.59
Fixed Asset Turnover		 0.44 0.39 0.37 0.35 0.35 0.33 0.32 0.29 0.33 0.30 0.30
Accounts Payable Turnover		 0.52 0.32 0.97 2.72 2.70 2.73 1.42 0.88 2.06 0.95 2.27
Days Sales Outstanding (DSO)		 65.89 73.66 84.14 74.17 53.43 56.53 65.87 67.56 61.11 69.56 64.07
Days Inventory Outstanding (DIO)		 60.23 65.98 21.90 12.85 14.35 16.84 41.21 73.44 37.13 79.82 28.99
Days Payable Outstanding (DPO)		 698.69 1,141.84 376.95 134.38 135.38 133.61 257.17 413.32 177.06 383.78 160.45
Cash Conversion Cycle (CCC)		 -572.57 -1,002.21 -270.91 -47.36 -67.61 -60.24 -150.10 -272.32 -78.83 -234.40 -67.40
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 780 823 887 946 1,059 1,149 1,263 1,396 1,637 1,781 1,910
Invested Capital Turnover		 0.88 0.54 0.52 0.48 0.47 0.44 0.41 0.37 0.39 0.35 0.36
Increase / (Decrease) in Invested Capital		 517 43 64 60 113 90 113 134 241 144 129
Enterprise Value (EV)		 1,637 1,839 2,241 2,611 3,383 3,238 4,194 3,943 3,743 3,772 3,660
Market Capitalization		 1,311 1,448 1,885 2,227 2,929 2,735 3,621 3,262 2,890 2,919 2,806
Book Value per Share		 $12.69 $13.52 $14.45 $15.19 $16.33 $17.39 $18.57 $19.20 $20.99 $24.34 $27.01
Tangible Book Value per Share		 $12.66 $13.49 $14.42 $15.16 $16.30 $17.36 $18.54 $19.17 $20.99 $24.34 $27.01
Total Capital		 815 906 910 975 1,088 1,217 1,304 1,434 1,686 1,850 1,977
Total Debt		 349 411 380 417 486 575 618 724 909 930 932
Total Long-Term Debt		 321 321 321 377 481 575 587 469 867 805 924
Net Debt		 326 390 356 384 455 503 572 682 852 853 854
Capital Expenditures (CapEx)		 87 130 79 126 152 130 145 166 189 232 237
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 21 17 58 18 10 2.16 8.89 4.67 68 46 46
Debt-free Net Working Capital (DFNWC)		 26 18 58 25 12 39 14 11 82 72 65
Net Working Capital (NWC)		 -2.81 -73 -1.20 -15 6.46 39 -18 -245 39 -52 56
Net Nonoperating Expense (NNE)		 12 12 12 15 14 12 12 19 23 28 26
Net Nonoperating Obligations (NNO)		 314 328 357 388 458 508 577 687 861 861 864
Total Depreciation and Amortization (D&A)		 43 39 39 41 36 37 40 42 43 44 49
Debt-free, Cash-free Net Working Capital to Revenue		 4.61% 3.92% 13.14% 4.13% 2.21% 0.44% 1.78% 0.95% 11.35% 7.65% 6.97%
Debt-free Net Working Capital to Revenue		 5.56% 4.02% 13.19% 5.77% 2.49% 7.97% 2.78% 2.17% 13.72% 12.13% 9.83%
Net Working Capital to Revenue		 -0.61% -16.69% -0.27% -3.46% 1.36% 7.89% -3.51% -49.89% 6.61% -8.76% 8.58%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.61 $1.63 $1.88 $1.73 $2.28 $2.34 $2.55 $2.12 $3.37 $3.17 $3.37
Adjusted Weighted Average Basic Shares Outstanding		 37.39M 36.55M 36.64M 36.73M 36.81M 36.88M 36.92M 36.96M 36.98M 37.46M 38.55M
Adjusted Diluted Earnings per Share		 $1.60 $1.62 $1.88 $1.72 $2.28 $2.33 $2.55 $2.11 $3.36 $3.17 $3.37
Adjusted Weighted Average Diluted Shares Outstanding		 37.61M 36.75M 36.84M 36.94M 36.96M 37.00M 37.01M 37.04M 37.08M 37.58M 38.67M
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		 36.52M 36.59M 36.72M 36.77M 36.86M 36.90M 36.95M 36.97M 36.99M 38.16M 39.08M
Normalized Net Operating Profit after Tax (NOPAT)		 73 72 76 79 98 98 106 97 148 147 156
Normalized NOPAT Margin		 15.91% 16.56% 17.26% 18.02% 20.71% 20.16% 21.30% 19.78% 24.76% 24.73% 23.73%
Pre Tax Income Margin		 21.41% 21.66% 24.59% 18.75% 23.00% 23.48% 25.01% 20.76% 27.95% 25.10% 25.80%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.64 5.26 5.72 4.34 5.30 6.01 6.40 4.69 4.72 3.81 4.51
NOPAT to Interest Expense		 3.46 3.28 3.60 3.36 4.00 4.37 4.67 3.60 3.45 2.92 3.34
EBIT Less CapEx to Interest Expense		 1.50 -0.64 2.23 -1.06 -0.87 0.22 0.07 -1.46 0.31 -0.79 -0.55
NOPAT Less CapEx to Interest Expense		 -0.68 -2.62 0.11 -2.04 -2.17 -1.42 -1.66 -2.55 -0.96 -1.68 -1.72
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 54.05% 55.92% 52.50% 60.96% 50.63% 80.65% 54.79% 71.89% 48.99% 56.19% 57.23%
Augmented Payout Ratio		 174.56% 55.92% 52.50% 60.96% 50.63% 80.65% 54.79% 71.89% 48.99% 56.19% 57.23%

Quarterly Metrics And Ratios for American States Water

This table displays calculated financial ratios and metrics derived from American States Water's 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		 - - - - - - - - - - 39,082,648.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 39,082,648.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.77
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 12.38% -0.15% -16.21% -1.32% 6.65% 14.31% 9.44% 4.98% 12.94% 14.80% 14.31%
EBITDA Growth		 19.91% 18.41% -18.88% -9.65% 12.08% 5.52% 9.61% 3.55% 12.46% 15.19% 11.75%
EBIT Growth		 24.58% 25.42% -21.71% -12.17% 13.22% 5.90% 9.82% 2.38% 12.83% 15.72% 12.29%
NOPAT Growth		 30.59% 12.98% -24.24% -11.04% 8.22% 43.02% 17.26% 0.08% 9.26% -0.67% 11.57%
Net Income Growth		 23.04% 9.66% -32.76% -17.28% 13.52% 39.20% 16.03% 5.73% 14.88% 1.08% 11.56%
EPS Growth		 23.19% 8.00% -33.33% -18.27% 11.76% 38.89% 12.90% 2.35% 11.58% -1.33% 8.57%
Operating Cash Flow Growth		 17.34% -59.93% 557.83% 128.74% 64.37% 477.84% -1.64% 161.39% 45.02% -57.04% 58.98%
Free Cash Flow Firm Growth		 -105.84% -93.47% -5.54% 28.44% 27.28% 49.93% 15.82% 37.72% 67.09% 13.74% 66.98%
Invested Capital Growth		 16.64% 17.24% 13.26% 11.29% 11.26% 8.78% 10.44% 7.17% 5.19% 7.23% 4.60%
Revenue Q/Q Growth		 -3.62% -17.48% 8.05% 14.84% 4.16% -11.55% 3.43% 10.17% 12.05% -10.09% 2.99%
EBITDA Q/Q Growth		 -14.13% -20.21% 7.21% 22.99% 6.53% -24.88% 11.38% 16.19% 15.70% -23.06% 8.05%
EBIT Q/Q Growth		 -16.44% -25.49% 9.41% 28.93% 7.71% -30.30% 13.47% 20.19% 18.71% -28.52% 10.10%
NOPAT Q/Q Growth		 -9.49% -37.13% 18.23% 32.23% 10.11% -16.92% -3.07% 12.87% 20.21% -24.47% 8.87%
Net Income Q/Q Growth		 -18.06% -35.28% 13.25% 37.73% 12.46% -20.65% -5.60% 25.50% 22.19% -30.18% 4.20%
EPS Q/Q Growth		 -18.27% -36.47% 14.81% 37.10% 11.76% -21.05% -6.67% 24.29% 21.84% -30.19% 2.70%
Operating Cash Flow Q/Q Growth		 258.83% -71.19% 310.31% -46.07% 157.86% 1.28% -30.16% 43.31% 43.06% -70.00% 158.47%
Free Cash Flow Firm Q/Q Growth		 2.19% -15.88% 23.64% 17.46% 0.61% 20.21% -28.60% 38.93% 47.48% -109.13% 50.77%
Invested Capital Q/Q Growth		 1.98% 3.37% 1.51% 3.97% 1.96% 1.06% 3.08% 0.89% 0.08% 3.01% 0.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 97.30% -11.67% 97.62% 97.72% 96.18% 56.78% 97.20% 96.24% 95.20% -9.30% 93.80%
EBITDA Margin		 40.23% 38.90% 38.60% 41.33% 42.28% 35.90% 38.66% 40.77% 42.10% 36.02% 37.79%
Operating Margin		 34.11% 27.86% 28.82% 33.32% 34.04% 27.04% 30.77% 31.25% 33.79% 27.42% 30.36%
EBIT Margin		 33.41% 30.17% 30.55% 34.29% 35.47% 27.95% 30.66% 33.44% 35.43% 28.17% 30.11%
Profit (Net Income) Margin		 20.81% 16.32% 17.11% 20.51% 22.15% 19.87% 18.14% 20.66% 22.53% 17.50% 17.70%
Tax Burden Percent		 76.78% 71.62% 75.78% 75.47% 78.09% 92.33% 76.03% 76.70% 76.11% 78.80% 75.21%
Interest Burden Percent		 81.12% 75.54% 73.90% 79.27% 79.98% 77.01% 77.81% 80.54% 83.55% 78.82% 78.15%
Effective Tax Rate		 23.22% 28.38% 24.22% 24.53% 21.91% 7.67% 23.97% 23.30% 23.89% 21.20% 24.79%
Return on Invested Capital (ROIC)		 10.61% 7.84% 7.95% 8.70% 9.18% 8.70% 8.14% 8.25% 9.06% 7.70% 8.26%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.50% 7.25% 7.15% 7.85% 8.33% 7.85% 7.24% 7.64% 8.38% 6.92% 7.26%
Return on Net Nonoperating Assets (RNNOA)		 9.42% 7.55% 7.46% 8.36% 8.55% 7.97% 7.18% 7.51% 7.67% 6.07% 6.24%
Return on Equity (ROE)		 20.03% 15.39% 15.41% 17.06% 17.73% 16.67% 15.31% 15.75% 16.73% 13.78% 14.50%
Cash Return on Invested Capital (CROIC)		 -5.52% -6.14% -3.61% -2.56% -2.50% 0.20% -1.21% 1.58% 3.57% 1.49% 4.03%
Operating Return on Assets (OROA)		 9.51% 8.40% 7.99% 8.67% 8.86% 7.01% 7.71% 8.31% 8.89% 7.11% 7.75%
Return on Assets (ROA)		 5.92% 4.54% 4.48% 5.19% 5.53% 4.99% 4.56% 5.13% 5.65% 4.42% 4.55%
Return on Common Equity (ROCE)		 20.03% 15.39% 15.41% 17.06% 17.73% 16.67% 15.31% 15.75% 16.73% 13.78% 14.50%
Return on Equity Simple (ROE_SIMPLE)		 15.96% 0.00% 14.20% 12.84% 12.65% 0.00% 12.86% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 40 25 30 39 43 36 35 39 47 35 39
NOPAT Margin		 26.19% 19.95% 21.84% 25.14% 26.58% 24.97% 23.40% 23.97% 25.71% 21.60% 22.84%
Net Nonoperating Expense Percent (NNEP)		 1.12% 0.59% 0.80% 0.85% 0.85% 0.85% 0.89% 0.61% 0.67% 0.78% 1.00%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.48% - - - 1.93% 1.83% 2.04% 2.44% 1.79% 1.94%
Cost of Revenue to Revenue		 2.70% 111.67% 2.38% 2.28% 3.82% 43.22% 2.80% 3.76% 4.80% 109.30% 6.20%
SG&A Expenses to Revenue		 20.71% 25.76% 25.86% 22.03% 21.77% 26.45% 25.24% 23.02% 20.36% 22.99% 23.30%
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		 63.18% -39.53% 68.80% 64.41% 62.14% 29.74% 66.43% 64.99% 61.41% -36.72% 63.44%
Earnings before Interest and Taxes (EBIT)		 51 38 41 53 57 40 45 55 65 46 51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 61 49 52 64 68 51 57 66 77 59 64
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.69 3.72 3.30 3.22 3.55 3.17 3.14 3.04 2.80 2.68 2.78
Price to Tangible Book Value (P/TBV)		 3.69 3.72 3.31 3.23 3.55 3.17 3.14 3.04 2.80 2.68 2.78
Price to Revenue (P/Rev)		 4.77 4.85 4.64 4.73 5.40 4.90 4.94 4.79 4.43 4.26 4.35
Price to Earnings (P/E)		 23.11 23.14 23.25 25.11 28.04 24.48 24.41 23.65 21.70 21.51 22.13
Dividend Yield		 2.11% 2.12% 2.36% 2.38% 2.11% 2.32% 2.32% 2.43% 2.59% 2.68% 2.62%
Earnings Yield		 4.33% 4.32% 4.30% 3.98% 3.57% 4.09% 4.10% 4.23% 4.61% 4.65% 4.52%
Enterprise Value to Invested Capital (EV/IC)		 2.30 2.29 2.10 2.07 2.27 2.12 2.11 2.06 1.97 1.92 1.98
Enterprise Value to Revenue (EV/Rev)		 6.12 6.28 6.13 6.30 6.91 6.33 6.36 6.21 5.74 5.56 5.59
Enterprise Value to EBITDA (EV/EBITDA)		 15.36 15.27 14.99 15.80 17.10 15.97 16.05 15.70 14.51 14.09 14.25
Enterprise Value to EBIT (EV/EBIT)		 18.78 18.54 18.35 19.52 21.05 19.65 19.75 19.38 17.87 17.35 17.55
Enterprise Value to NOPAT (EV/NOPAT)		 25.22 25.36 25.30 26.81 29.23 25.62 25.41 25.10 23.42 23.44 23.71
Enterprise Value to Operating Cash Flow (EV/OCF)		 43.23 55.30 32.79 29.66 27.47 18.98 19.55 16.07 13.72 15.93 14.82
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 1,083.29 0.00 134.72 56.59 133.18 50.19
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.10 1.17 1.14 1.12 1.07 1.01 0.98 0.97 0.91 0.89 0.87
Long-Term Debt to Equity		 1.05 1.12 1.09 0.92 0.86 0.88 0.83 0.97 0.90 0.88 0.86
Financial Leverage		 0.99 1.04 1.04 1.07 1.03 1.02 0.99 0.98 0.91 0.88 0.86
Leverage Ratio		 2.84 2.88 2.84 2.83 2.80 2.80 2.75 2.75 2.69 2.65 2.61
Compound Leverage Factor		 2.30 2.18 2.10 2.24 2.24 2.16 2.14 2.21 2.25 2.09 2.04
Debt to Total Capital		 52.41% 53.95% 53.29% 52.88% 51.60% 50.26% 49.56% 49.23% 47.54% 47.13% 46.45%
Short-Term Debt to Total Capital		 2.30% 2.51% 2.53% 9.46% 9.76% 6.72% 7.56% 0.02% 0.28% 0.42% 0.41%
Long-Term Debt to Total Capital		 50.10% 51.44% 50.76% 43.42% 41.84% 43.54% 41.99% 49.21% 47.26% 46.71% 46.04%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 47.59% 46.05% 46.71% 47.12% 48.40% 49.74% 50.44% 50.77% 52.46% 52.87% 53.55%
Debt to EBITDA		 3.58 3.71 3.92 4.14 4.02 3.94 3.90 3.87 3.63 3.59 3.46
Net Debt to EBITDA		 3.38 3.48 3.65 3.92 3.74 3.61 3.60 3.57 3.31 3.29 3.17
Long-Term Debt to EBITDA		 3.42 3.54 3.73 3.40 3.26 3.41 3.30 3.87 3.61 3.56 3.43
Debt to NOPAT		 5.87 6.16 6.61 7.02 6.86 6.31 6.17 6.19 5.86 5.97 5.76
Net Debt to NOPAT		 5.55 5.78 6.17 6.65 6.39 5.79 5.70 5.71 5.33 5.47 5.27
Long-Term Debt to NOPAT		 5.61 5.87 6.30 5.76 5.57 5.47 5.23 6.19 5.82 5.92 5.71
Altman Z-Score		 1.86 1.52 1.70 1.65 1.80 1.37 1.72 1.74 1.70 1.33 1.71
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		 0.98 1.24 1.15 0.70 0.69 0.82 0.81 1.56 1.27 1.32 1.22
Quick Ratio		 0.64 0.77 0.67 0.41 0.42 0.49 0.45 0.92 0.76 0.78 0.72
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -186 -216 -165 -136 -135 -108 -139 -85 -45 -93 -46
Operating Cash Flow to CapEx		 81.62% 21.30% 96.34% 40.01% 99.26% 110.32% 66.69% 126.83% 169.05% 43.51% 146.05%
Free Cash Flow to Firm to Interest Expense		 -15.92 -19.86 -12.84 -10.37 -10.24 -9.68 -11.50 -7.01 -3.80 -8.57 -3.79
Operating Cash Flow to Interest Expense		 3.31 1.03 3.56 1.88 4.82 5.78 3.73 5.33 7.89 2.55 5.92
Operating Cash Flow Less CapEx to Interest Expense		 -0.75 -3.80 -0.14 -2.82 -0.04 0.54 -1.86 1.13 3.22 -3.31 1.87
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.28 0.28 0.26 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.26
Accounts Receivable Turnover		 5.91 5.97 5.97 5.19 4.93 5.25 5.72 4.97 5.25 5.70 6.18
Inventory Turnover		 5.05 9.83 4.14 3.82 4.08 4.57 4.77 4.77 4.55 12.59 12.37
Fixed Asset Turnover		 0.33 0.33 0.31 0.30 0.30 0.30 0.30 0.30 0.30 0.30 0.30
Accounts Payable Turnover		 1.06 2.06 0.99 0.90 0.90 0.95 1.10 1.06 0.96 2.27 2.70
Days Sales Outstanding (DSO)		 61.73 61.11 61.11 70.34 74.08 69.56 63.84 73.40 69.56 64.07 59.03
Days Inventory Outstanding (DIO)		 72.25 37.13 88.26 95.60 89.45 79.82 76.50 76.58 80.25 28.99 29.51
Days Payable Outstanding (DPO)		 345.42 177.06 367.31 403.60 407.04 383.78 331.05 345.01 380.77 160.45 135.06
Cash Conversion Cycle (CCC)		 -211.44 -78.83 -217.94 -237.67 -243.51 -234.40 -190.70 -195.03 -230.96 -67.40 -46.52
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,584 1,637 1,662 1,728 1,762 1,781 1,836 1,852 1,854 1,910 1,920
Invested Capital Turnover		 0.41 0.39 0.36 0.35 0.35 0.35 0.35 0.34 0.35 0.36 0.36
Increase / (Decrease) in Invested Capital		 226 241 195 175 178 144 174 124 92 129 85
Enterprise Value (EV)		 3,648 3,743 3,493 3,572 3,993 3,772 3,871 3,822 3,656 3,660 3,799
Market Capitalization		 2,845 2,890 2,642 2,686 3,120 2,919 3,002 2,952 2,823 2,806 2,955
Book Value per Share		 $20.86 $20.99 $21.62 $22.39 $23.48 $24.34 $25.07 $25.25 $26.21 $27.01 $27.22
Tangible Book Value per Share		 $20.83 $20.99 $21.59 $22.36 $23.45 $24.34 $25.07 $25.25 $26.21 $27.01 $27.22
Total Capital		 1,621 1,686 1,714 1,769 1,817 1,850 1,896 1,915 1,924 1,977 1,987
Total Debt		 849 909 913 935 938 930 940 943 915 932 923
Total Long-Term Debt		 812 867 870 768 760 805 796 942 909 924 915
Net Debt		 803 852 851 886 873 853 869 870 833 854 844
Capital Expenditures (CapEx)		 47 52 48 62 64 58 68 51 55 64 49
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 25 68 53 74 62 46 66 70 33 46 26
Debt-free Net Working Capital (DFNWC)		 34 82 70 78 78 72 87 91 59 65 48
Net Working Capital (NWC)		 -3.32 39 27 -90 -99 -52 -56 90 53 56 40
Net Nonoperating Expense (NNE)		 8.17 4.55 6.40 7.19 7.17 7.29 7.79 5.40 5.82 6.75 8.69
Net Nonoperating Obligations (NNO)		 812 861 862 895 883 861 879 880 844 864 856
Total Depreciation and Amortization (D&A)		 10 11 11 11 11 11 12 12 12 13 13
Debt-free, Cash-free Net Working Capital to Revenue		 4.27% 11.35% 9.28% 13.07% 10.71% 7.65% 10.87% 11.43% 5.14% 6.97% 3.80%
Debt-free Net Working Capital to Revenue		 5.71% 13.72% 12.27% 13.71% 13.56% 12.13% 14.36% 14.71% 9.23% 9.83% 7.06%
Net Working Capital to Revenue		 -0.56% 6.61% 4.66% -15.79% -17.15% -8.76% -9.22% 14.65% 8.37% 8.58% 5.85%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.85 $0.55 $0.62 $0.85 $0.95 $0.75 $0.70 $0.87 $1.06 $0.74 $0.76
Adjusted Weighted Average Basic Shares Outstanding		 36.98M 36.98M 37.03M 37.31M 37.56M 37.46M 38.25M 38.51M 38.57M 38.55M 39.11M
Adjusted Diluted Earnings per Share		 $0.85 $0.54 $0.62 $0.85 $0.95 $0.75 $0.70 $0.87 $1.06 $0.74 $0.76
Adjusted Weighted Average Diluted Shares Outstanding		 37.07M 37.08M 37.11M 37.42M 37.68M 37.58M 38.35M 38.64M 38.70M 38.67M 39.21M
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		 36.98M 36.99M 37.23M 37.46M 37.80M 38.16M 38.51M 38.51M 38.71M 39.08M 39.19M
Normalized Net Operating Profit after Tax (NOPAT)		 40 25 30 39 43 36 35 39 47 35 39
Normalized NOPAT Margin		 26.19% 19.95% 21.84% 25.14% 26.58% 24.97% 23.40% 23.97% 25.71% 21.60% 22.84%
Pre Tax Income Margin		 27.10% 22.79% 22.57% 27.18% 28.37% 21.52% 23.85% 26.94% 29.60% 22.20% 23.54%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.33 3.48 3.21 4.05 4.34 3.58 3.76 4.50 5.53 4.26 4.21
NOPAT to Interest Expense		 3.40 2.30 2.30 2.97 3.25 3.20 2.87 3.23 4.01 3.26 3.19
EBIT Less CapEx to Interest Expense		 0.27 -1.35 -0.48 -0.65 -0.51 -1.66 -1.84 0.30 0.86 -1.60 0.16
NOPAT Less CapEx to Interest Expense		 -0.66 -2.53 -1.40 -1.73 -1.60 -2.04 -2.73 -0.98 -0.65 -2.59 -0.86
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 48.72% 48.99% 54.91% 59.57% 58.68% 56.19% 56.01% 56.71% 55.89% 57.23% 57.35%
Augmented Payout Ratio		 48.72% 48.99% 54.91% 59.57% 58.68% 56.19% 56.01% 56.71% 55.89% 57.23% 57.35%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, investor-focused read on American States Water (NYSE: AWR) using quarterly data from the last four years. The aim is to highlight trends that may impact the stock over time for retail investors.

  • Material cash flow strength from operations: 2025 quarters show solid operating cash flow, with Q3 2025 net cash from continuing operating activities around $92.8M and ongoing positive cash generation in prior periods (e.g., Q2 2025 about $64.7M; Q4 2024 around $64.2M).
  • Debt leverage improving: Long-term debt declined from approximately $942.5M (Q2 2025) to about $909.3M (Q3 2025), while total equity rose to roughly $0.97B by mid-2025, signaling improved financial flexibility.
  • Asset base expanding: Total assets grew from roughly $2.54B in early 2025 to about $2.66B by Q3 2025, reflecting ongoing capital investments to support the regulated utility asset base.
  • Consistent profitability and earnings power: Net income attributable to common shareholders remained positive across quarters, with a notable Q3 2025 print of about $41.2M and continued profitability in subsequent quarters (e.g., Q4 2025 around $28.7M).
  • Strong quarterly earnings per share in key quarters: Diluted EPS reached approximately $1.06 in Q3 2025 and around $0.74 in Q4 2025, indicating meaningful earnings generation per share in multi-quarter periods.
  • Dividend policy remains attractive and consistent: Cash dividends per share generally range in the mid-to-high 0.40s to around $0.50 in recent quarters, providing steady income for investors while earnings support dividend payments.
  • Healthy capitalization mix and equity growth: Total equity (including retained earnings) rose to about $0.97B by mid-2025, reflecting accumulating retained earnings and ongoing capital discipline.
  • Capex supports long-term value, with neutral near-term cash impact: Ongoing property, plant & equipment investments continue to be a major use of cash (PPE purchases of roughly $50M–$63M per quarter in several periods), which is typical for utilities but modestly strains near-term free cash flow.
  • Moderate liquidity posture: Cash and cash equivalents have hovered in the mid-$20Ms to low-$30Ms range across recent quarters, consistent with a regulated utility but leaving modest liquidity headroom for volatility or capex cycles.
  • Regulatory and earnings mix volatility: Periods of higher operating costs or one-time items (e.g., large “Other Operating Expenses / (Income)” swings in some quarters) have caused margin and profit variability, a neutral-to-negative read depending on how recurring those items are.
  • Quarterly gross profit deterioration in Q4 2025: Total Gross Profit turned negative in Q4 2025 (-$15.28M) as operating costs exceeded revenue for that quarter, signaling margin pressure in that period.
  • Significant one-off operating expense in Q4 2025: A sizable negative item labeled “Other Operating Expenses / (Income)” shows a large drag (-$113.38M) in that quarter, which materially impacted gross and operating margins.
  • Cash flow stability challenged by capex intensity: High ongoing capex (PPE purchases) and occasional large investing outflows contributed to negative net cash from investing activities in several quarters, constraining near-term free cash flow.
  • Debt level volatility and height of absolute debt: While LT debt declined in mid-2025, the debt base remains meaningful (around $0.9B) and can raise refinancing/regulatory capital considerations if interest rates or access to capital markets change.
  • Quarterly net change in cash can be negative: Several quarters show negative net change in cash despite positive operating cash flow, reflecting the combined effect of investing and financing activities (e.g., notable negative cash changes in multiple 2024–2025 quarters).
05/14/26 07:50 AM ETAI Generated. May Contain Errors.

American States Water Financials - Frequently Asked Questions

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

American States Water's net income appears to be on an upward trend, with a most recent value of $130.44 million in 2025, rising from $60.48 million in 2015. The previous period was $119.27 million in 2024. See American States Water's forecast for analyst expectations on what's next for the company.

American States Water's total operating income in 2025 was $203.28 million, based on the following breakdown:
  • Total Gross Profit: $459.47 million
  • Total Operating Expenses: $256.20 million

Over the last 10 years, American States Water's total revenue changed from $458.64 million in 2015 to $658.07 million in 2025, a change of 43.5%.

American States Water's total liabilities were at $1.67 billion at the end of 2025, a 5.7% increase from 2024, and a 87.6% increase since 2015.

In the past 10 years, American States Water's cash and equivalents has ranged from $214 thousand in 2017 to $36.74 million in 2020, and is currently $18.82 million as of their latest financial filing in 2025.

Over the last 10 years, American States Water's book value per share changed from 12.69 in 2015 to 27.01 in 2025, a change of 112.9%.


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Financial statements for NYSE:AWR last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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