California Water Service Group (CWT) Financials

$42.93 -0.54 (-1.24%)

As of 02:15 PM Eastern

Annual Income Statements for California Water Service Group

This table shows California Water Service Group'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	45	49	73	66	63	97	101	96	52	191	128
Consolidated Net Income / (Loss)	45	49	73	66	63	97	101	95	51	190	128
Net Income / (Loss) Continuing Operations	29	49	66	57	69	97	91	81	31	174	110
Total Pre-Tax Income	30	46	68	54	70	97	92	84	40	181	118
Total Operating Income	71	83	107	111	99	137	127	128	77	225	170
Total Gross Profit	426	559	490	517	414	352	478	747	709	891	875
Total Revenue	588	609	676	698	715	794	791	846	795	1,037	1,000
Operating Revenue	588	609	676	698	715	794	791	846	795	1,037	1,000
Total Cost of Revenue	163	50	186	181	300	442	313	99	86	146	125
Operating Cost of Revenue	49	27	51	56	255	305	277	61	65	69	69
Other Cost of Revenue	113	23	135	126	45	137	35	38	21	76	55
Total Operating Expenses	354	476	382	406	315	216	351	620	632	666	705
Selling, General & Admin Expense	113	88	93	101	109	117	127	133	142	140	142
Depreciation Expense	61	64	77	84	89	99	109	115	121	132	144
Other Operating Expenses / (Income)	180	325	213	222	117	-	116	372	368	394	419
Total Other Income / (Expense), net	-41	-36	-40	-57	-29	-39	-35	-44	-38	-44	-53
Interest Expense	27	31	34	38	41	42	43	44	50	58	67
Other Income / (Expense), net	-14	-5.73	-5.64	-19	12	2.61	8.71	0.58	12	13	14
Income Tax Expense	0.76	-2.42	1.55	-2.72	1.39	0.58	1.29	3.11	8.41	6.55	7.89
Other Adjustments to Consolidated Net Income / (Loss)	16	-	6.31	8.96	-5.73	-	9.90	14	20	16	18
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	0.00	0.00	-0.15	-0.75	-0.54	-0.72	-0.36
Basic Earnings per Share	$0.94	$1.02	$1.52	$1.36	$1.31	$1.97	$1.96	$1.77	$0.91	$3.26	$2.15
Weighted Average Basic Shares Outstanding	47.87M	47.95M	48.01M	48.06M	48.17M	49.27M	51.63M	54.32M	56.95M	58.61M	59.57M
Diluted Earnings per Share	$0.94	$1.01	$1.52	$1.36	$1.31	$1.97	$1.96	$1.77	$0.91	$3.25	$2.15
Weighted Average Diluted Shares Outstanding	47.88M	47.96M	48.01M	48.06M	48.17M	49.27M	51.63M	54.36M	56.98M	58.65M	59.63M
Weighted Average Basic & Diluted Shares Outstanding	47.90M	47.70M	607.80M	48.20M	48.20M	50.35M	53.71M	55.60M	57.68M	59.49M	59.64M
Cash Dividends to Common per Share	$0.67	$0.69	$0.72	$0.75	$0.79	$0.85	$0.92	$1.00	$1.04	$1.12	$1.24

This table shows California Water Service Group'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	34	30	70	41	61	20	13	42	61	11	4.04
Consolidated Net Income / (Loss)	34	30	70	40	61	19	13	42	61	11	4.04
Net Income / (Loss) Continuing Operations	30	24	66	36	56	16	8.40	37	57	7.19	0.07
Total Pre-Tax Income	31	29	68	37	58	18	10	39	59	9.66	1.46
Total Operating Income	43	35	78	48	67	32	22	52	71	26	18
Total Gross Profit	149	373	181	148	178	384	129	162	186	398	131
Total Revenue	255	215	271	244	300	222	204	265	311	220	215
Operating Revenue	255	215	271	244	300	222	204	265	311	220	215
Total Cost of Revenue	106	-159	89	97	121	-162	75	103	125	-178	83
Operating Cost of Revenue	92	-154	64	78	95	-167	63	86	103	-182	71
Other Cost of Revenue	14	-5.28	25	19	26	5.81	12	18	22	3.64	12
Total Operating Expenses	105	338	103	99	111	352	107	110	116	373	113
Selling, General & Admin Expense	34	37	36	32	35	36	34	33	36	38	34
Depreciation Expense	30	32	33	33	33	33	36	36	36	36	40
Other Operating Expenses / (Income)	41	269	35	34	43	282	37	41	43	298	40
Total Other Income / (Expense), net	-13	-6.65	-10	-11	-8.71	-15	-12	-13	-12	-16	-17
Interest Expense	13	12	15	14	14	15	16	17	17	17	19
Other Income / (Expense), net	-0.07	5.69	4.89	3.21	4.89	0.35	3.41	3.94	5.04	1.45	1.84
Income Tax Expense	1.06	4.11	1.32	1.31	1.94	1.99	1.70	1.75	1.96	2.48	1.39
Other Adjustments to Consolidated Net Income / (Loss)	4.78	5.46	3.27	4.34	4.45	3.74	4.80	4.59	4.55	4.29	3.97
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.11	-0.19	-0.23	-0.17	-0.13	-0.20	-0.13	-0.12	-0.11	-0.00	0.00
Basic Earnings per Share	$0.60	$0.54	$1.21	$0.70	$1.03	$0.32	$0.22	$0.71	$1.03	$0.19	$0.07
Weighted Average Basic Shares Outstanding	57.70M	56.95M	57.73M	58.29M	58.93M	58.61M	59.51M	59.57M	59.59M	59.57M	59.70M
Diluted Earnings per Share	$0.60	$0.54	$1.21	$0.70	$1.03	$0.31	$0.22	$0.71	$1.03	$0.19	$0.07
Weighted Average Diluted Shares Outstanding	57.74M	56.98M	57.77M	58.33M	58.98M	58.65M	59.57M	59.63M	59.65M	59.63M	59.77M
Weighted Average Basic & Diluted Shares Outstanding	57.71M	57.68M	57.75M	58.83M	59.47M	59.49M	59.57M	59.58M	59.59M	59.64M	59.85M
Cash Dividends to Common per Share	$0.26	-	$0.28	$0.28	$0.28	-	$0.34	$0.30	$0.30	-	$0.34

This table details how cash moves in and out of California Water Service Group'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	-11	17	69	-48	-4.42	1.83	36	4.37	-0.06	11	1.69
Net Cash From Operating Activities	145	160	148	179	169	118	232	244	218	291	303
Net Cash From Continuing Operating Activities	145	160	148	179	169	118	232	244	218	291	303
Net Income / (Loss) Continuing Operations	45	49	73	66	63	97	101	95	51	190	128
Consolidated Net Income / (Loss)	45	49	73	66	63	97	101	95	51	190	128
Depreciation Expense	63	65	79	86	91	101	112	117	123	134	147
Amortization Expense	0.83	0.87	0.92	1.10	0.74	0.41	0.37	0.37	0.26	0.25	0.27
Non-Cash Adjustments To Reconcile Net Income	2.26	4.17	-4.53	-4.12	-0.74	0.76	5.36	19	-2.56	55	-2.81
Changes in Operating Assets and Liabilities, net	34	42	-0.08	31	14	-81	13	12	46	-88	31
Net Cash From Investing Activities	-178	-231	-207	-273	-276	-346	-301	-336	-389	-475	-520
Net Cash From Continuing Investing Activities	-178	-231	-207	-273	-276	-346	-301	-336	-389	-475	-520
Acquisitions	-	-	-	0.00	0.00	-45	-6.45	-7.77	-2.99	-1.61	0.00
Other Investing Activities, net	-179	-231	-207	-273	-276	-301	-296	-328	-386	-473	-520
Net Cash From Financing Activities	23	87	128	46	103	230	105	96	172	195	219
Net Cash From Continuing Financing Activities	23	87	128	46	103	230	105	96	172	195	219
Repayment of Debt	-155	-95	-122	-385	-563	-172	-540	-120	-122	-478	-696
Repurchase of Common Equity	-0.34	-0.74	-1.51	-1.65	-2.50	-1.68	-1.77	-2.01	-1.84	-1.44	-1.43
Payment of Dividends	-32	-33	-35	-36	-38	-42	-47	-55	-60	-66	-75
Issuance of Debt	194	195	265	450	658	335	479	150	228	630	918
Issuance of Common Equity	-	-	0.00	0.00	20	84	198	107	115	89	4.04
Other Financing Activities, net	16	21	21	19	28	27	18	16	12	21	69
Cash Interest Paid	25	28	32	36	41	41	42	44	49	56	61

This table details how cash moves in and out of California Water Service Group'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	-21	16	3.30	-5.59	23	-9.51	-5.55	6.02	25	-24	6.37
Net Cash From Operating Activities	106	74	27	94	102	68	38	49	167	48	49
Net Cash From Continuing Operating Activities	106	74	27	94	102	68	38	49	167	48	49
Net Income / (Loss) Continuing Operations	34	30	70	40	61	19	13	42	61	11	4.04
Consolidated Net Income / (Loss)	34	30	70	40	61	19	13	42	61	11	4.04
Depreciation Expense	30	32	33	34	34	34	36	37	37	37	40
Non-Cash Adjustments To Reconcile Net Income	-1.39	1.05	-1.74	81	-27	3.41	-1.80	-1.90	-2.15	3.03	-2.08
Changes in Operating Assets and Liabilities, net	43	11	-75	-61	35	11	-9.48	-28	72	-3.68	7.14
Net Cash From Investing Activities	-102	-110	-110	-105	-121	-140	-110	-119	-139	-152	-129
Net Cash From Continuing Investing Activities	-102	-110	-110	-105	-121	-140	-110	-119	-139	-152	-129
Other Investing Activities, net	-100	-110	-110	-105	-120	-139	-110	-119	-139	-152	-129
Net Cash From Financing Activities	-24	51	87	4.55	41	62	66	76	-3.29	80	86
Net Cash From Continuing Financing Activities	-24	51	87	4.55	41	62	66	76	-3.29	80	86
Repayment of Debt	-30	-0.27	-69	-160	-58	-190	-90	-165	-25	-415	-60
Repurchase of Common Equity	-0.09	-0.10	-1.14	-0.09	-0.10	-0.10	-1.11	-0.11	-0.11	-0.11	-0.82
Payment of Dividends	-15	-15	-16	-17	-16	-17	-21	-18	-18	-18	-27
Issuance of Debt	15	64	170	125	75	260	170	240	10	498	160
Issuance of Common Equity	0.55	0.63	0.77	53	35	0.57	0.74	0.60	0.56	2.14	6.88
Other Financing Activities, net	5.49	1.98	2.17	3.90	5.95	8.97	7.18	19	29	13	7.54
Cash Interest Paid	2.27	23	3.36	25	3.92	24	4.10	27	6.26	23	7.52

This table presents California Water Service Group'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	2,241	2,412	2,745	2,838	3,111	3,394	3,623	4,265	4,596	5,180	5,671
Total Current Assets	128	142	228	189	185	266	300	296	296	324	354
Cash & Equivalents	8.84	25	95	47	43	45	78	62	40	50	52
Restricted Cash	-	-	-	-	-	-	2.27	23	45	46	46
Note & Lease Receivable	38	42	46	51	49	54	51	54	53	74	89
Accounts Receivable	32	30	32	30	32	44	61	55	59	59	56
Inventories, net	6.34	6.29	6.46	6.59	7.75	8.83	9.51	13	16	21	20
Prepaid Expenses	7.90	7.26	11	12	15	18	-	22	18	20	20
Other Current Assets	35	30	37	42	38	96	98	67	64	56	73
Plant, Property, & Equipment, net	1,702	1,859	2,048	2,233	2,406	2,651	2,847	3,473	3,773	4,159	4,580
Plant, Property & Equipment, gross	2,507	2,717	2,970	3,229	3,550	3,890	4,197	4,536	4,925	5,400	5,909
Accumulated Depreciation	805	858	922	997	1,144	1,240	1,350	1,063	1,152	1,242	1,330
Total Noncurrent Assets	412	410	469	416	520	478	476	496	526	697	737
Goodwill	2.62	2.62	2.62	2.62	2.62	32	37	37	37	37	37
Other Noncurrent Operating Assets	409	408	466	414	518	446	439	460	489	660	700
Total Liabilities & Shareholders' Equity	2,241	2,412	2,745	2,838	3,111	3,394	3,623	4,265	4,596	5,180	5,671
Total Liabilities	1,599	1,752	2,045	2,108	2,331	2,473	2,451	2,942	3,165	3,542	3,979
Total Current Liabilities	148	250	491	321	359	589	272	295	430	538	418
Short-Term Debt	40	123	291	170	197	375	40	73	181	277	132
Accounts Payable	66	78	94	96	108	132	144	141	157	168	176
Accrued Expenses	31	35	37	34	39	37	43	53	60	56	66
Other Taxes Payable	3.42	3.63	3.89	4.18	4.45	4.48	5.38	8.61	4.59	6.08	6.05
Other Current Liabilities	2.23	4.76	59	12	4.46	35	33	12	22	23	25
Other Current Nonoperating Liabilities	5.09	5.66	6.12	5.67	5.81	6.18	6.54	6.49	6.63	8.41	13
Total Noncurrent Liabilities	1,451	1,502	1,555	1,786	1,973	1,884	2,179	2,648	2,735	3,004	3,561
Long-Term Debt	508	532	516	710	787	781	1,056	1,052	1,053	1,105	1,472
Asset Retirement Reserve & Litigation Obligation	35	39	177	211	211	181	180	628	684	815	930
Noncurrent Deferred Revenue	180	182	183	186	191	-	-	200	199	203	211
Noncurrent Deferred & Payable Income Tax Liabilities	267	301	196	215	223	276	295	330	353	411	451
Noncurrent Employee Benefit Liabilities	236	223	252	194	259	116	92	78	83	82	94
Other Noncurrent Operating Liabilities	225	226	231	271	302	531	556	359	363	389	403
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	642	659	699	730	780	921	1,172	1,322	1,430	1,638	1,692
Total Preferred & Common Equity	642	659	699	730	780	921	1,167	1,318	1,427	1,635	1,689
Total Common Equity	642	659	699	730	780	921	1,167	1,318	1,427	1,635	1,689
Common Stock	334	335	337	338	363	449	652	761	877	968	974
Retained Earnings	309	324	363	392	417	472	515	557	550	675	729
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-	-	0.00	-7.22	-14
Noncontrolling Interest	-	-	-	-	-	0.00	5.39	4.80	3.58	3.02	2.57

This table presents California Water Service Group'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	3,806	3,887	3,990	4,041	4,781	4,871	5,015	5,258	5,400	5,519	5,780
Total Current Assets	339	269	312	302	283	267	363	319	362	399	375
Cash & Equivalents	90	52	56	35	43	37	60	44	51	76	58
Restricted Cash	23	34	34	34	45	45	46	46	46	46	46
Note & Lease Receivable	66	50	62	67	47	66	76	68	81	81	87
Accounts Receivable	79	47	63	79	51	71	81	54	75	80	53
Inventories, net	11	13	14	15	17	18	20	20	20	20	20
Prepaid Expenses	15	23	22	19	24	24	21	25	26	23	34
Other Current Assets	55	50	61	53	56	5.50	59	62	63	74	78
Plant, Property, & Equipment, net	2,988	3,103	3,178	3,248	3,849	3,942	4,041	4,230	4,335	4,444	4,665
Plant, Property & Equipment, gross	4,422	4,612	4,715	4,817	5,023	5,142	5,264	5,498	5,628	5,763	6,012
Accumulated Depreciation	1,435	1,509	1,538	1,569	1,174	1,199	1,223	1,268	1,293	1,319	1,347
Total Noncurrent Assets	480	514	501	491	649	662	611	708	704	676	739
Goodwill	37	37	37	37	37	37	37	37	37	37	37
Other Noncurrent Operating Assets	443	477	464	454	612	625	574	671	667	639	702
Total Liabilities & Shareholders' Equity	3,806	3,887	3,990	4,041	4,781	4,871	5,015	5,258	5,400	5,519	5,780
Total Liabilities	2,528	2,584	2,596	2,626	3,310	3,324	3,383	3,626	3,743	3,817	4,097
Total Current Liabilities	323	350	363	381	508	513	571	604	686	730	545
Short-Term Debt	76	133	132	117	281	246	261	357	432	417	231
Accounts Payable	158	120	138	153	120	144	172	141	167	188	165
Accrued Expenses	62	63	56	67	72	103	97	60	57	63	67
Other Taxes Payable	-	-	-	-	-	-	-	6.71	3.07	18	7.46
Other Current Liabilities	9.68	17	29	26	17	13	24	19	18	23	52
Other Current Nonoperating Liabilities	17	17	7.16	18	18	6.67	17	20	8.98	19	23
Total Noncurrent Liabilities	2,206	2,234	2,234	2,245	2,802	2,811	2,813	3,022	3,057	3,087	3,552
Long-Term Debt	1,054	1,052	1,052	1,052	1,052	1,052	1,052	1,104	1,104	1,104	1,472
Asset Retirement Reserve & Litigation Obligation	-	-	-	-	-	743	735	827	846	871	916
Noncurrent Deferred Revenue	199	199	200	201	198	200	201	202	208	210	212
Noncurrent Deferred & Payable Income Tax Liabilities	312	326	328	333	370	364	366	416	423	408	453
Noncurrent Employee Benefit Liabilities	96	79	80	81	83	83	83	82	82	82	95
Other Noncurrent Operating Liabilities	544	576	573	579	1,099	370	376	390	394	412	404
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	1,278	1,303	1,394	1,415	1,471	1,548	1,632	1,632	1,657	1,703	1,683
Total Preferred & Common Equity	1,273	1,298	1,390	1,411	1,467	1,545	1,629	1,629	1,655	1,700	1,681
Total Common Equity	1,273	1,298	1,390	1,411	1,467	1,545	1,629	1,629	1,655	1,700	1,681
Common Stock	712	778	875	876	877	930	966	968	969	972	981
Retained Earnings	562	520	515	534	603	628	672	668	692	736	713
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-13	-13	-9.20	-7.06	-6.91	-6.76	-14
Noncontrolling Interest	4.87	4.79	4.45	4.33	3.41	3.09	3.04	2.74	2.44	2.42	2.60

This table displays calculated financial ratios and metrics derived from California Water Service Group'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	-1.53%	3.57%	10.95%	3.27%	2.34%	11.16%	-0.43%	7.02%	-6.12%	30.48%	-3.54%
EBITDA Growth	-8.02%	18.05%	26.56%	-1.35%	13.98%	18.26%	2.83%	-0.59%	-13.50%	75.19%	-11.20%
EBIT Growth	-15.47%	34.66%	31.91%	-9.60%	21.51%	24.99%	-2.72%	-5.34%	-30.30%	166.68%	-22.73%
NOPAT Growth	-12.60%	25.39%	20.34%	10.98%	-16.08%	39.41%	-7.98%	-1.66%	-50.58%	257.07%	-26.73%
Net Income Growth	-20.66%	8.13%	49.85%	-10.09%	-3.76%	53.42%	4.28%	-5.66%	-46.07%	269.99%	-32.74%
EPS Growth	-21.01%	7.45%	50.50%	-10.53%	-3.68%	50.38%	-0.51%	-9.69%	-48.59%	257.14%	-33.85%
Operating Cash Flow Growth	13.14%	10.67%	-7.85%	21.09%	-5.71%	-30.14%	96.50%	5.20%	-10.65%	33.54%	4.02%
Free Cash Flow Firm Growth	-127.21%	-318.62%	16.71%	-94.89%	-72.32%	-191.12%	83.24%	-78.88%	-192.80%	15.69%	8.26%
Invested Capital Growth	6.70%	9.16%	9.48%	10.68%	10.08%	18.09%	7.58%	8.02%	9.10%	13.44%	9.51%
Revenue Q/Q Growth	0.18%	2.09%	3.09%	-0.54%	1.34%	1.57%	-1.96%	3.37%	1.74%	0.75%	-0.22%
EBITDA Q/Q Growth	0.09%	16.72%	-0.55%	-3.94%	9.71%	1.53%	-3.45%	6.20%	9.70%	-1.71%	-0.62%
EBIT Q/Q Growth	-2.82%	33.11%	-4.90%	-10.20%	16.85%	0.43%	-7.97%	11.30%	20.86%	-3.38%	-2.92%
NOPAT Q/Q Growth	-1.72%	31.87%	-5.50%	1.96%	-7.47%	3.52%	-10.27%	12.18%	17.90%	-0.38%	-4.59%
Net Income Q/Q Growth	-6.09%	15.72%	6.32%	-5.83%	-6.00%	4.49%	-10.67%	20.24%	25.59%	-5.22%	-5.88%
EPS Q/Q Growth	-6.00%	14.77%	7.04%	-6.21%	-5.76%	5.35%	-12.11%	19.59%	24.66%	-6.61%	-5.29%
Operating Cash Flow Q/Q Growth	0.33%	5.37%	0.98%	13.62%	-10.15%	-14.00%	15.62%	-3.42%	16.21%	-2.10%	-6.25%
Free Cash Flow Firm Q/Q Growth	-205.16%	41.23%	63.94%	-118.53%	-98.51%	-15.31%	57.66%	-164.48%	8.13%	-23.16%	-20.55%
Invested Capital Q/Q Growth	2.31%	2.58%	-0.39%	1.01%	2.25%	3.35%	0.52%	2.50%	2.10%	2.69%	2.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.35%	91.73%	72.50%	74.03%	57.96%	44.34%	60.46%	88.30%	89.21%	85.93%	87.52%
EBITDA Margin	20.59%	23.46%	26.76%	25.57%	28.47%	30.29%	31.28%	29.06%	26.78%	35.95%	33.10%
Operating Margin	12.09%	13.56%	15.84%	15.83%	13.91%	17.21%	16.03%	15.08%	9.71%	21.71%	17.03%
EBIT Margin	9.71%	12.62%	15.00%	13.13%	15.59%	17.53%	17.13%	15.15%	11.25%	22.99%	18.42%
Profit (Net Income) Margin	7.65%	7.99%	10.79%	9.39%	8.83%	12.19%	12.77%	11.25%	6.47%	18.33%	12.78%
Tax Burden Percent	150.87%	104.90%	108.04%	121.78%	89.89%	99.40%	109.44%	113.54%	129.84%	105.12%	108.80%
Interest Burden Percent	52.25%	60.34%	66.55%	58.72%	63.01%	69.94%	68.10%	65.42%	44.27%	75.86%	63.79%
Effective Tax Rate	2.55%	-5.21%	2.29%	-5.05%	1.98%	0.60%	1.39%	3.71%	21.25%	3.62%	6.71%
Return on Invested Capital (ROIC)	6.04%	7.01%	7.72%	7.78%	5.91%	7.21%	5.91%	5.39%	2.45%	7.86%	5.17%
ROIC Less NNEP Spread (ROIC-NNEP)	1.31%	0.52%	3.03%	1.28%	2.07%	3.44%	3.66%	2.71%	1.60%	5.67%	2.96%
Return on Net Nonoperating Assets (RNNOA)	1.06%	0.47%	3.02%	1.40%	2.45%	4.17%	3.74%	2.25%	1.28%	4.53%	2.51%
Return on Equity (ROE)	7.10%	7.48%	10.74%	9.18%	8.36%	11.38%	9.65%	7.64%	3.73%	12.39%	7.68%
Cash Return on Invested Capital (CROIC)	-0.45%	-1.75%	-1.33%	-2.36%	-3.68%	-9.38%	-1.40%	-2.32%	-6.26%	-4.74%	-3.90%
Operating Return on Assets (OROA)	2.58%	3.31%	3.93%	3.29%	3.75%	4.28%	3.86%	3.25%	2.02%	4.88%	3.40%
Return on Assets (ROA)	2.03%	2.09%	2.83%	2.35%	2.12%	2.98%	2.88%	2.42%	1.16%	3.89%	2.36%
Return on Common Equity (ROCE)	7.10%	7.48%	10.74%	9.18%	8.36%	11.38%	9.62%	7.61%	3.72%	12.36%	7.67%
Return on Equity Simple (ROE_SIMPLE)	7.01%	7.38%	10.43%	8.98%	8.09%	10.51%	8.66%	7.23%	3.60%	11.62%	0.00%
Net Operating Profit after Tax (NOPAT)	69	87	105	116	97	136	125	123	61	217	159
NOPAT Margin	11.78%	14.27%	15.47%	16.63%	13.64%	17.10%	15.80%	14.52%	7.64%	20.92%	15.89%
Net Nonoperating Expense Percent (NNEP)	4.73%	6.49%	4.68%	6.49%	3.85%	3.78%	2.25%	2.67%	0.85%	2.19%	2.21%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.02%	2.28%	7.18%	4.82%
Cost of Revenue to Revenue	27.65%	8.27%	27.50%	25.97%	42.04%	55.66%	39.54%	11.70%	10.79%	14.07%	12.48%
SG&A Expenses to Revenue	19.22%	14.38%	13.80%	14.43%	15.20%	14.74%	16.02%	15.68%	17.90%	13.46%	14.16%
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	60.20%	78.19%	56.57%	58.19%	44.04%	27.14%	44.42%	73.21%	79.50%	64.22%	70.48%
Earnings before Interest and Taxes (EBIT)	57	77	101	92	111	139	135	128	89	238	184
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	121	143	181	179	203	241	247	246	213	373	331
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.47	2.14	2.76	2.83	2.92	2.73	3.07	2.40	2.04	1.64	1.52
Price to Tangible Book Value (P/TBV)	1.48	2.15	2.77	2.84	2.93	2.83	3.17	2.47	2.09	1.67	1.55
Price to Revenue (P/Rev)	1.61	2.32	2.86	2.96	3.19	3.17	4.53	3.74	3.66	2.58	2.56
Price to Earnings (P/E)	21.02	29.06	26.47	31.56	36.08	25.97	35.45	32.97	55.96	14.02	19.99
Dividend Yield	3.39%	2.34%	1.79%	1.74%	1.67%	1.68%	1.35%	1.73%	2.07%	2.49%	2.88%
Earnings Yield	4.76%	3.44%	3.78%	3.17%	2.77%	3.85%	2.82%	3.03%	1.79%	7.13%	5.00%
Enterprise Value to Invested Capital (EV/IC)	1.25	1.58	1.86	1.85	1.86	1.78	2.10	1.78	1.57	1.35	1.27
Enterprise Value to Revenue (EV/Rev)	2.52	3.35	3.91	4.16	4.50	4.57	5.82	4.98	5.11	3.82	4.07
Enterprise Value to EBITDA (EV/EBITDA)	12.26	14.30	14.61	16.26	15.82	15.07	18.61	17.12	19.07	10.63	12.30
Enterprise Value to EBIT (EV/EBIT)	26.00	26.58	26.05	31.65	28.88	26.04	33.99	32.84	45.38	16.63	22.11
Enterprise Value to NOPAT (EV/NOPAT)	21.42	23.51	25.26	25.00	33.03	26.69	36.84	34.26	66.78	18.28	25.62
Enterprise Value to Operating Cash Flow (EV/OCF)	10.24	12.74	17.88	16.21	19.07	30.75	19.87	17.28	18.62	13.63	13.46
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	0.85	0.99	1.15	1.21	1.26	1.25	0.94	0.85	0.86	0.84	0.95
Long-Term Debt to Equity	0.79	0.81	0.74	0.97	1.01	0.85	0.90	0.80	0.74	0.67	0.87
Financial Leverage	0.81	0.91	1.00	1.09	1.18	1.21	1.02	0.83	0.80	0.80	0.85
Leverage Ratio	3.49	3.57	3.80	3.91	3.94	3.82	3.35	3.16	3.22	3.19	3.26
Compound Leverage Factor	1.82	2.16	2.53	2.29	2.48	2.67	2.28	2.07	1.42	2.42	2.08
Debt to Total Capital	46.03%	49.83%	53.57%	54.65%	55.78%	55.65%	48.33%	45.98%	46.30%	45.76%	48.67%
Short-Term Debt to Total Capital	3.33%	9.38%	19.32%	10.56%	11.17%	18.06%	1.77%	2.99%	6.78%	9.19%	4.01%
Long-Term Debt to Total Capital	42.70%	40.45%	34.25%	44.10%	44.61%	37.60%	46.55%	42.99%	39.52%	36.57%	44.66%
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%	0.24%	0.20%	0.13%	0.10%	0.08%
Common Equity to Total Capital	53.97%	50.17%	46.43%	45.35%	44.22%	44.35%	51.44%	53.82%	53.56%	54.14%	51.25%
Debt to EBITDA	4.52	4.58	4.46	4.93	4.83	4.81	4.43	4.58	5.80	3.71	4.85
Net Debt to EBITDA	4.45	4.40	3.93	4.67	4.63	4.62	4.10	4.23	5.40	3.45	4.55
Long-Term Debt to EBITDA	4.19	3.72	2.85	3.98	3.87	3.25	4.27	4.28	4.95	2.96	4.45
Debt to NOPAT	7.90	7.53	7.71	7.58	10.10	8.51	8.77	9.16	20.31	6.37	10.09
Net Debt to NOPAT	7.77	7.24	6.81	7.17	9.66	8.18	8.12	8.47	18.91	5.93	9.48
Long-Term Debt to NOPAT	7.33	6.12	4.93	6.11	8.07	5.75	8.45	8.56	17.33	5.09	9.26
Altman Z-Score	0.88	0.98	1.00	1.08	1.05	1.06	1.43	1.13	0.92	0.94	0.84
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.26%	0.41%	0.30%	0.21%	0.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.86	0.57	0.46	0.59	0.51	0.45	1.10	1.00	0.69	0.60	0.85
Quick Ratio	0.53	0.39	0.35	0.40	0.35	0.24	0.70	0.58	0.35	0.34	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5.18	-22	-18	-35	-61	-177	-30	-53	-155	-131	-120
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-0.19	-0.71	-0.53	-0.93	-1.47	-4.22	-0.68	-1.19	-3.11	-2.27	-1.80
Operating Cash Flow to Interest Expense	5.32	5.26	4.36	4.73	4.09	2.82	5.36	5.50	4.37	5.05	4.54
Operating Cash Flow Less CapEx to Interest Expense	5.33	5.27	4.38	4.73	4.10	2.82	5.36	5.50	4.37	5.05	4.54
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.26	0.26	0.25	0.24	0.24	0.23	0.21	0.18	0.21	0.18
Accounts Receivable Turnover	20.53	19.72	21.55	22.35	23.02	20.88	15.09	14.61	13.89	17.58	17.41
Inventory Turnover	26.28	7.98	29.15	27.79	41.92	53.34	34.10	8.98	5.97	7.96	6.20
Fixed Asset Turnover	0.36	0.34	0.35	0.33	0.31	0.31	0.29	0.27	0.22	0.26	0.23
Accounts Payable Turnover	2.59	0.70	2.16	1.91	2.94	3.68	2.27	0.69	0.58	0.90	0.73
Days Sales Outstanding (DSO)	17.78	18.51	16.94	16.33	15.86	17.48	24.18	24.98	26.28	20.76	20.97
Days Inventory Outstanding (DIO)	13.89	45.73	12.52	13.13	8.71	6.84	10.70	40.67	61.15	45.87	58.91
Days Payable Outstanding (DPO)	141.09	522.01	168.61	190.76	123.96	99.16	161.11	525.70	634.77	406.26	501.84
Cash Conversion Cycle (CCC)	-109.43	-457.77	-139.15	-161.29	-99.39	-74.83	-126.22	-460.05	-547.34	-339.62	-421.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,186	1,295	1,417	1,569	1,727	2,039	2,194	2,370	2,585	2,933	3,212
Invested Capital Turnover	0.51	0.49	0.50	0.47	0.43	0.42	0.37	0.37	0.32	0.38	0.33
Increase / (Decrease) in Invested Capital	75	109	123	151	158	312	155	176	216	348	279
Enterprise Value (EV)	1,485	2,044	2,643	2,902	3,218	3,626	4,605	4,211	4,057	3,964	4,072
Market Capitalization	946	1,414	1,931	2,070	2,277	2,515	3,584	3,166	2,905	2,675	2,563
Book Value per Share	$13.41	$13.75	$14.56	$15.19	$16.20	$18.49	$22.17	$24.03	$24.72	$27.50	$28.35
Tangible Book Value per Share	$13.36	$13.69	$14.51	$15.14	$16.14	$17.85	$21.47	$23.36	$24.08	$26.87	$27.73
Total Capital	1,190	1,315	1,506	1,610	1,764	2,078	2,268	2,448	2,664	3,020	3,296
Total Debt	548	655	807	880	984	1,156	1,096	1,126	1,233	1,382	1,604
Total Long-Term Debt	508	532	516	710	787	781	1,056	1,052	1,053	1,105	1,472
Net Debt	539	630	712	833	941	1,112	1,015	1,041	1,148	1,286	1,507
Capital Expenditures (CapEx)	-0.32	-0.40	-0.67	-0.06	-0.03	0.00	-0.11	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	11	-10	-67	-9.63	-20	7.88	-12	-11	-38	-32	-29
Debt-free Net Working Capital (DFNWC)	19	15	28	38	23	52	69	74	47	63	69
Net Working Capital (NWC)	-20	-108	-263	-132	-174	-323	29	0.89	-134	-214	-64
Net Nonoperating Expense (NNE)	24	38	32	51	34	39	24	28	9.37	27	31
Net Nonoperating Obligations (NNO)	544	635	718	839	947	1,118	1,022	1,047	1,155	1,295	1,520
Total Depreciation and Amortization (D&A)	64	66	80	87	92	101	112	118	123	134	147
Debt-free, Cash-free Net Working Capital to Revenue	1.78%	-1.70%	-9.89%	-1.38%	-2.76%	0.99%	-1.51%	-1.28%	-4.83%	-3.13%	-2.88%
Debt-free Net Working Capital to Revenue	3.29%	2.49%	4.13%	5.38%	3.21%	6.60%	8.69%	8.77%	5.87%	6.10%	6.85%
Net Working Capital to Revenue	-3.45%	-17.75%	-38.91%	-18.97%	-24.35%	-40.63%	3.61%	0.10%	-16.87%	-20.66%	-6.37%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.94	$1.02	$1.40	$1.36	$1.31	$1.97	$1.96	$1.77	$0.91	$3.26	$2.15
Adjusted Weighted Average Basic Shares Outstanding	47.87M	47.95M	48.01M	48.06M	48.17M	49.27M	51.63M	54.32M	56.95M	58.61M	59.57M
Adjusted Diluted Earnings per Share	$0.94	$1.01	$1.40	$1.36	$1.31	$1.97	$1.96	$1.77	$0.91	$3.25	$2.15
Adjusted Weighted Average Diluted Shares Outstanding	47.88M	47.96M	48.01M	48.06M	48.17M	49.27M	51.63M	54.36M	56.98M	58.65M	59.63M
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	47.87M	47.96M	48.01M	48.07M	48.54M	50.35M	53.71M	55.60M	57.68M	59.49M	59.64M
Normalized Net Operating Profit after Tax (NOPAT)	69	58	104	77	97	136	125	123	61	217	159
Normalized NOPAT Margin	11.73%	9.51%	15.38%	11.08%	13.63%	17.10%	15.79%	14.52%	7.64%	20.92%	15.89%
Pre Tax Income Margin	5.07%	7.61%	9.99%	7.71%	9.83%	12.26%	11.67%	9.91%	4.98%	17.44%	11.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.09	2.52	2.99	2.42	2.70	3.33	3.14	2.89	1.79	4.14	2.76
NOPAT to Interest Expense	2.54	2.85	3.08	3.07	2.36	3.25	2.89	2.77	1.22	3.77	2.38
EBIT Less CapEx to Interest Expense	2.11	2.53	3.01	2.42	2.70	3.33	3.14	2.89	1.79	4.14	2.76
NOPAT Less CapEx to Interest Expense	2.55	2.86	3.10	3.07	2.36	3.25	2.90	2.77	1.22	3.77	2.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	71.23%	67.96%	47.39%	54.96%	60.24%	43.13%	46.94%	57.25%	115.81%	34.70%	58.38%
Augmented Payout Ratio	71.98%	69.49%	49.45%	57.47%	64.20%	44.87%	48.69%	59.36%	119.40%	35.45%	59.51%

This table displays calculated financial ratios and metrics derived from California Water Service Group'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	-	-	-	-	-	-	-	-	-	-	59,642,844.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	59,642,844.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.07
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.25%	6.76%	106.52%	25.90%	17.49%	3.58%	-24.66%	8.45%	3.90%	-1.00%	5.20%
EBITDA Growth	-20.80%	34.11%	597.32%	72.76%	42.63%	-9.23%	-46.42%	8.74%	6.71%	-3.55%	-3.14%
EBIT Growth	-31.77%	60.52%	701.07%	172.80%	65.05%	-20.36%	-68.89%	8.52%	5.60%	-17.02%	-22.32%
NOPAT Growth	-34.95%	32.27%	722.62%	281.21%	53.75%	-5.11%	-75.67%	6.48%	5.78%	-33.49%	-95.64%
Net Income Growth	-38.36%	53.76%	412.04%	327.41%	76.41%	-34.99%	-81.06%	4.14%	0.93%	-41.02%	-69.42%
EPS Growth	-41.75%	50.00%	402.50%	311.76%	71.67%	-42.59%	-81.82%	1.43%	0.00%	-38.71%	-68.18%
Operating Cash Flow Growth	-3.59%	69.15%	26.44%	470.50%	-3.91%	-8.38%	44.90%	-48.16%	64.26%	-29.64%	28.54%
Free Cash Flow Firm Growth	-173.90%	-21.25%	-18.36%	-13.39%	-45.46%	-71.87%	-13.36%	-26.18%	23.73%	18.55%	-3.93%
Invested Capital Growth	9.53%	9.10%	13.03%	10.99%	12.79%	13.44%	10.58%	12.17%	9.31%	9.51%	9.33%
Revenue Q/Q Growth	31.40%	-15.87%	26.22%	-9.77%	22.62%	-25.83%	-8.20%	29.90%	17.47%	-29.32%	-2.46%
EBITDA Q/Q Growth	50.16%	-1.18%	59.33%	-26.92%	23.97%	-37.11%	-5.95%	48.31%	21.65%	-43.16%	-5.55%
EBIT Q/Q Growth	130.48%	-5.71%	102.28%	-37.94%	39.45%	-54.50%	-20.97%	116.45%	35.70%	-64.25%	-26.02%
NOPAT Q/Q Growth	244.17%	-28.10%	153.11%	-39.14%	38.80%	-55.62%	-35.11%	166.40%	37.90%	-72.10%	-95.74%
Net Income Q/Q Growth	263.34%	-12.78%	132.78%	-42.06%	49.97%	-67.86%	-32.17%	218.51%	45.34%	-81.22%	-64.83%
EPS Q/Q Growth	252.94%	-10.00%	124.07%	-42.15%	47.14%	-69.90%	-29.03%	222.73%	45.07%	-81.55%	-63.16%
Operating Cash Flow Q/Q Growth	540.37%	-29.89%	-64.32%	256.12%	7.86%	-33.15%	-43.57%	27.39%	241.78%	-71.36%	3.09%
Free Cash Flow Firm Q/Q Growth	11.27%	-4.10%	-28.69%	4.61%	-13.83%	-23.00%	15.12%	-6.17%	31.20%	-31.35%	-8.32%
Invested Capital Q/Q Growth	1.48%	2.10%	5.75%	1.30%	3.12%	2.69%	3.09%	2.75%	0.50%	2.87%	2.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	58.38%	174.04%	66.95%	60.42%	59.47%	172.76%	63.23%	61.10%	59.84%	181.02%	61.24%
EBITDA Margin	28.94%	33.99%	42.91%	34.75%	35.13%	29.79%	30.52%	34.84%	36.09%	29.02%	28.10%
Operating Margin	17.05%	16.43%	28.77%	19.72%	22.28%	14.51%	10.95%	19.55%	22.69%	11.64%	8.47%
EBIT Margin	17.02%	19.08%	30.57%	21.03%	23.91%	14.67%	12.63%	21.04%	24.31%	12.29%	9.32%
Profit (Net Income) Margin	13.46%	13.96%	25.74%	16.53%	20.21%	8.76%	6.47%	15.87%	19.64%	5.22%	1.88%
Tax Burden Percent	112.13%	104.74%	102.88%	108.12%	104.33%	109.92%	130.65%	107.23%	104.42%	118.82%	277.27%
Interest Burden Percent	70.53%	69.84%	81.83%	72.69%	81.02%	54.33%	39.23%	70.34%	77.36%	35.73%	7.28%
Effective Tax Rate	3.47%	14.37%	1.95%	3.50%	3.34%	11.21%	16.85%	4.47%	3.35%	25.62%	95.54%
Return on Invested Capital (ROIC)	5.31%	4.51%	10.23%	7.12%	8.23%	4.84%	3.07%	6.30%	7.35%	2.82%	0.12%
ROIC Less NNEP Spread (ROIC-NNEP)	4.60%	4.49%	9.67%	6.59%	7.89%	4.09%	2.66%	5.74%	6.81%	2.28%	0.33%
Return on Net Nonoperating Assets (RNNOA)	3.67%	3.59%	8.29%	5.21%	6.06%	3.27%	2.28%	4.79%	5.40%	1.93%	0.30%
Return on Equity (ROE)	8.98%	8.10%	18.52%	12.32%	14.29%	8.11%	5.35%	11.08%	12.76%	4.75%	0.43%
Cash Return on Invested Capital (CROIC)	-6.97%	-6.26%	-5.94%	-3.01%	-3.94%	-4.74%	-4.49%	-5.92%	-3.33%	-3.90%	-4.03%
Operating Return on Assets (OROA)	3.39%	3.42%	6.59%	4.67%	5.44%	3.11%	2.44%	4.06%	4.63%	2.27%	1.71%
Return on Assets (ROA)	2.68%	2.50%	5.55%	3.67%	4.59%	1.86%	1.25%	3.06%	3.74%	0.96%	0.34%
Return on Common Equity (ROCE)	8.95%	8.08%	18.47%	12.29%	14.26%	8.09%	5.34%	11.06%	12.73%	4.74%	0.42%
Return on Equity Simple (ROE_SIMPLE)	2.90%	0.00%	9.77%	11.29%	12.31%	0.00%	8.20%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	42	30	76	46	65	29	19	49	68	19	0.81
NOPAT Margin	16.46%	14.07%	28.21%	19.03%	21.54%	12.89%	9.11%	18.68%	21.93%	8.66%	0.38%
Net Nonoperating Expense Percent (NNEP)	0.71%	0.02%	0.56%	0.53%	0.34%	0.75%	0.41%	0.56%	0.54%	0.54%	-0.21%
Return On Investment Capital (ROIC_SIMPLE)	-	1.13%	-	-	-	0.95%	0.60%	1.55%	2.12%	0.58%	0.02%
Cost of Revenue to Revenue	41.62%	-74.04%	33.05%	39.58%	40.53%	-72.76%	36.77%	38.90%	40.16%	-81.02%	38.76%
SG&A Expenses to Revenue	13.42%	17.28%	13.15%	13.12%	11.83%	16.39%	16.75%	12.57%	11.64%	17.20%	15.70%
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	41.33%	157.61%	38.18%	40.70%	37.19%	158.25%	52.28%	41.55%	37.15%	169.38%	52.78%
Earnings before Interest and Taxes (EBIT)	43	41	83	51	72	33	26	56	76	27	20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	74	73	116	85	105	66	62	92	112	64	60
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.89	2.04	1.81	1.80	1.96	1.64	1.77	1.64	1.61	1.52	1.61
Price to Tangible Book Value (P/TBV)	1.94	2.09	1.85	1.85	2.00	1.67	1.81	1.67	1.64	1.55	1.65
Price to Revenue (P/Rev)	3.42	3.66	2.84	2.83	3.10	2.58	2.97	2.73	2.73	2.56	2.68
Price to Earnings (P/E)	64.58	55.96	18.41	15.91	15.85	14.02	21.48	19.94	20.05	19.99	22.74
Dividend Yield	2.23%	2.07%	2.31%	2.24%	2.03%	2.49%	2.44%	2.64%	2.66%	2.88%	2.72%
Earnings Yield	1.55%	1.79%	5.43%	6.28%	6.31%	7.13%	4.66%	5.01%	4.99%	5.00%	4.40%
Enterprise Value to Invested Capital (EV/IC)	1.49	1.57	1.43	1.45	1.54	1.35	1.41	1.34	1.32	1.27	1.30
Enterprise Value to Revenue (EV/Rev)	4.83	5.11	4.17	4.07	4.28	3.82	4.39	4.19	4.13	4.07	4.26
Enterprise Value to EBITDA (EV/EBITDA)	19.46	19.07	12.50	11.51	11.60	10.63	13.36	12.74	12.42	12.30	13.10
Enterprise Value to EBIT (EV/EBIT)	51.03	45.38	20.98	18.33	17.83	16.63	23.47	22.35	21.80	22.11	24.13
Enterprise Value to NOPAT (EV/NOPAT)	73.26	66.78	24.04	20.53	20.21	18.28	26.61	25.48	24.83	25.62	27.85
Enterprise Value to Operating Cash Flow (EV/OCF)	20.14	18.62	17.46	13.29	14.81	13.63	14.06	16.14	12.82	13.46	13.73
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	0.83	0.86	0.91	0.84	0.80	0.84	0.90	0.93	0.89	0.95	1.01
Long-Term Debt to Equity	0.74	0.74	0.72	0.68	0.64	0.67	0.68	0.67	0.65	0.87	0.87
Financial Leverage	0.80	0.80	0.86	0.79	0.77	0.80	0.86	0.83	0.79	0.85	0.91
Leverage Ratio	2.91	3.22	3.12	3.01	2.97	3.19	3.24	3.20	3.16	3.26	3.33
Compound Leverage Factor	2.06	2.25	2.56	2.19	2.41	1.73	1.27	2.25	2.44	1.16	0.24
Debt to Total Capital	45.23%	46.30%	47.55%	45.61%	44.58%	45.76%	47.25%	48.11%	47.18%	48.67%	50.29%
Short-Term Debt to Total Capital	4.52%	6.78%	10.03%	8.65%	8.86%	9.19%	11.55%	13.54%	12.95%	4.01%	6.82%
Long-Term Debt to Total Capital	40.71%	39.52%	37.52%	36.96%	35.72%	36.57%	35.70%	34.57%	34.24%	44.66%	43.47%
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	0.17%	0.13%	0.12%	0.11%	0.10%	0.10%	0.09%	0.08%	0.08%	0.08%	0.08%
Common Equity to Total Capital	54.60%	53.56%	52.33%	54.28%	55.32%	54.14%	52.66%	51.81%	52.74%	51.25%	49.63%
Debt to EBITDA	6.03	5.80	4.27	3.73	3.46	3.71	4.59	4.71	4.57	4.85	5.18
Net Debt to EBITDA	5.67	5.40	3.99	3.49	3.18	3.45	4.31	4.42	4.20	4.55	4.86
Long-Term Debt to EBITDA	5.42	4.95	3.37	3.02	2.77	2.96	3.47	3.39	3.31	4.45	4.48
Debt to NOPAT	22.68	20.31	8.22	6.65	6.03	6.37	9.14	9.43	9.13	10.09	11.01
Net Debt to NOPAT	21.34	18.91	7.67	6.23	5.54	5.93	8.57	8.84	8.40	9.48	10.34
Long-Term Debt to NOPAT	20.42	17.33	6.48	5.39	4.83	5.09	6.90	6.78	6.63	9.26	9.52
Altman Z-Score	1.00	0.89	0.85	0.86	0.96	0.81	0.79	0.76	0.77	0.75	0.72
Noncontrolling Interest Sharing Ratio	0.34%	0.30%	0.30%	0.26%	0.24%	0.21%	0.20%	0.17%	0.16%	0.17%	0.16%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.79	0.69	0.56	0.52	0.64	0.60	0.53	0.53	0.55	0.85	0.69
Quick Ratio	0.47	0.35	0.28	0.34	0.38	0.34	0.28	0.30	0.32	0.47	0.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-178	-186	-239	-228	-259	-319	-271	-287	-198	-260	-281
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-13.94	-15.04	-15.88	-16.24	-19.07	-21.43	-17.30	-17.38	-11.55	-14.94	-15.17
Operating Cash Flow to Interest Expense	8.29	6.02	1.76	6.73	7.49	4.57	2.45	2.96	9.77	2.76	2.66
Operating Cash Flow Less CapEx to Interest Expense	8.29	6.02	1.76	6.73	7.49	4.57	2.45	2.96	9.77	2.76	2.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.18	0.22	0.22	0.23	0.21	0.19	0.19	0.19	0.18	0.18
Accounts Receivable Turnover	9.90	13.89	19.09	14.68	12.89	17.58	18.44	13.52	12.45	17.41	18.99
Inventory Turnover	23.73	5.97	16.05	16.44	15.52	7.96	7.06	7.34	7.08	6.20	6.66
Fixed Asset Turnover	0.25	0.22	0.27	0.28	0.28	0.26	0.24	0.24	0.24	0.23	0.23
Accounts Payable Turnover	2.02	0.58	2.02	1.84	1.69	0.90	1.01	0.89	0.79	0.73	0.87
Days Sales Outstanding (DSO)	36.87	26.28	19.12	24.86	28.31	20.76	19.80	27.00	29.32	20.97	19.22
Days Inventory Outstanding (DIO)	15.38	61.15	22.74	22.21	23.51	45.87	51.67	49.70	51.56	58.91	54.78
Days Payable Outstanding (DPO)	180.75	634.77	180.62	198.64	215.89	406.26	362.58	411.20	464.27	501.84	420.03
Cash Conversion Cycle (CCC)	-128.50	-547.34	-138.76	-151.57	-164.07	-339.62	-291.11	-334.51	-383.39	-421.96	-346.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,532	2,585	2,734	2,770	2,856	2,933	3,024	3,107	3,122	3,212	3,306
Invested Capital Turnover	0.32	0.32	0.36	0.37	0.38	0.38	0.34	0.34	0.34	0.33	0.32
Increase / (Decrease) in Invested Capital	220	216	315	274	324	348	289	337	266	279	282
Enterprise Value (EV)	3,774	4,057	3,900	4,004	4,400	3,964	4,257	4,152	4,136	4,072	4,306
Market Capitalization	2,670	2,905	2,652	2,786	3,189	2,675	2,883	2,709	2,734	2,563	2,704
Book Value per Share	$24.45	$24.72	$25.44	$26.74	$27.69	$27.50	$27.39	$27.78	$28.54	$28.35	$28.18
Tangible Book Value per Share	$23.81	$24.08	$24.80	$26.10	$27.06	$26.87	$26.76	$27.16	$27.92	$27.73	$27.55
Total Capital	2,584	2,664	2,804	2,846	2,944	3,020	3,094	3,194	3,224	3,296	3,386
Total Debt	1,169	1,233	1,333	1,298	1,312	1,382	1,462	1,537	1,521	1,604	1,703
Total Long-Term Debt	1,052	1,053	1,052	1,052	1,052	1,105	1,104	1,104	1,104	1,472	1,472
Net Debt	1,100	1,148	1,245	1,215	1,207	1,286	1,372	1,440	1,400	1,507	1,599
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-31	-38	-32	-82	-52	-32	-18	12	-35	-29	-43
Debt-free Net Working Capital (DFNWC)	38	47	56	0.49	53	63	73	108	87	69	61
Net Working Capital (NWC)	-79	-134	-225	-246	-208	-214	-285	-324	-331	-64	-170
Net Nonoperating Expense (NNE)	7.64	0.24	6.68	6.10	3.96	9.17	5.38	7.44	7.13	7.56	-3.23
Net Nonoperating Obligations (NNO)	1,117	1,155	1,263	1,222	1,224	1,295	1,392	1,449	1,419	1,520	1,623
Total Depreciation and Amortization (D&A)	30	32	33	34	34	34	36	37	37	37	40
Debt-free, Cash-free Net Working Capital to Revenue	-3.98%	-4.83%	-3.41%	-8.35%	-5.06%	-3.13%	-1.81%	1.19%	-3.46%	-2.88%	-4.23%
Debt-free Net Working Capital to Revenue	4.86%	5.87%	6.04%	0.05%	5.16%	6.10%	7.48%	10.90%	8.67%	6.85%	6.04%
Net Working Capital to Revenue	-10.10%	-16.87%	-24.06%	-24.95%	-20.19%	-20.66%	-29.37%	-32.76%	-32.98%	-6.37%	-16.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.60	$0.54	$1.21	$0.70	$1.03	$0.32	$0.22	$0.71	$1.03	$0.19	$0.07
Adjusted Weighted Average Basic Shares Outstanding	57.70M	56.95M	57.73M	58.29M	58.93M	58.61M	59.51M	59.57M	59.59M	59.57M	59.70M
Adjusted Diluted Earnings per Share	$0.60	$0.54	$1.21	$0.70	$1.03	$0.31	$0.22	$0.71	$1.03	$0.19	$0.07
Adjusted Weighted Average Diluted Shares Outstanding	57.74M	56.98M	57.77M	58.33M	58.98M	58.65M	59.57M	59.63M	59.65M	59.63M	59.77M
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	57.71M	57.68M	57.75M	58.83M	59.47M	59.49M	59.57M	59.58M	59.59M	59.64M	59.85M
Normalized Net Operating Profit after Tax (NOPAT)	42	30	76	46	65	29	19	49	68	19	13
Normalized NOPAT Margin	16.46%	14.07%	28.21%	19.03%	21.54%	12.89%	9.11%	18.68%	21.93%	8.66%	5.93%
Pre Tax Income Margin	12.01%	13.32%	25.02%	15.29%	19.38%	7.97%	4.95%	14.80%	18.81%	4.39%	0.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.39	3.32	5.50	3.66	5.27	2.19	1.65	3.37	4.42	1.56	1.08
NOPAT to Interest Expense	3.28	2.44	5.08	3.31	4.75	1.92	1.19	2.99	3.99	1.10	0.04
EBIT Less CapEx to Interest Expense	3.39	3.32	5.50	3.66	5.27	2.19	1.65	3.37	4.42	1.56	1.08
NOPAT Less CapEx to Interest Expense	3.28	2.44	5.08	3.31	4.75	1.92	1.19	2.99	3.99	1.10	0.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	141.86%	115.81%	42.68%	36.14%	32.15%	34.70%	52.74%	53.24%	54.05%	58.38%	68.16%
Augmented Payout Ratio	146.41%	119.40%	43.69%	36.96%	32.87%	35.45%	53.79%	54.28%	55.10%	59.51%	69.13%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven look at California Water Service Group (NYSE: CWT) across the last four years of quarterly statements. The bullets highlight notable trends and items that may impact investors.

Cash flow from continuing operating activities was robust in 2025, with Q3 2025 delivering about $167.3 million and Q4 2025 still positive at about $47.9 million, underscoring ongoing cash generation from core operations.
The company accessed capital markets in 2025 with multiple debt issuances to support liquidity and capital needs, including about $170 million in Q1 2025, $240 million in Q2 2025, $10 million in Q3 2025, and a substantial $498.2 million in Q4 2025.
Net income to common shareholders remained positive in recent quarters, with Q4 2025 showing about $11.48 million in net income to common and diluted EPS of $0.19 on roughly 59.6 million shares.
Dividend payments have been relatively stable across 2024–2025, typically around $0.28–$0.34 per share, providing a steady yield component for income-focused investors.
Revenue and earnings exhibit seasonal patterns, with Q3 2025 showing higher revenue (~$311 million) than Q4 2025 (~$220 million), making cross-quarter comparisons less straightforward.
The balance sheet shows a sizable long-term debt load (around $1.10 billion) and ongoing debt issuances, which affects leverage and interest costs going forward.
Current assets often trail current liabilities in several quarters, suggesting ongoing working-capital considerations that can influence near-term liquidity planning.
Liquidity risk is evident: in Q3 2025, current liabilities (~$729.9 million) exceed current assets (~$399.3 million), producing a working-capital deficit of roughly $330.6 million.
Operating cash flow cooled in Q4 2025 to about $47.9 million from $68.1 million in Q4 2024, signaling a material near-term downshift in cash generation from operations.
Earnings momentum appeared softer in Q4 2025 versus the prior-year quarter, with net income to common per-share of $0.19 in Q4 2025 compared with higher year-ago levels, indicating narrower quarterly margins.

05/11/26 11:39 AM ETAI Generated. May Contain Errors.

California Water Service Group Financials - Frequently Asked Questions

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

California Water Service Group's net income appears to be on an upward trend, with a most recent value of $127.85 million in 2025, rising from $45.02 million in 2015. The previous period was $190.09 million in 2024. See California Water Service Group's forecast for analyst expectations on what's next for the company.

California Water Service Group's total operating income in 2025 was $170.37 million, based on the following breakdown:

Total Gross Profit: $875.31 million
Total Operating Expenses: $704.94 million

Over the last 10 years, California Water Service Group's total revenue changed from $588.37 million in 2015 to $1.00 billion in 2025, a change of 70.0%.

California Water Service Group's total liabilities were at $3.98 billion at the end of 2025, a 12.3% increase from 2024, and a 148.8% increase since 2015.

In the past 10 years, California Water Service Group's cash and equivalents has ranged from $8.84 million in 2015 to $94.78 million in 2017, and is currently $51.82 million as of their latest financial filing in 2025.

Over the last 10 years, California Water Service Group's book value per share changed from 13.41 in 2015 to 28.35 in 2025, a change of 111.4%.

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

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California Water Service Group (CWT) Financials

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California Water Service Group (CWT) Financials

Annual Income Statements for California Water Service Group

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How has California Water Service Group's revenue changed over the last 10 years?

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