AWR Financials American States Water

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 29 h ago Overview →

Growth & profitability

Revenue has grown 6.2% per year over the past 5 years.
Net income has grown faster than revenue (8.6% vs 6.2% per year).
Operating margin has expanded, at 30.9% in the latest year.

Financial health

Total debt ($783M) exceeds cash ($19M); net debt is $764M.
Total debt has grown faster than revenue (12.2% vs 6.2% per year).
Operating income covered interest expense 4.3× in the latest year.
Total debt is 3.1× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 57.2% of earnings.
The dividend has grown 9.6% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$658M	$130M	90.8%	30.9%	-$7M	$783M	$19M
2024	$595M	$119M	90.8%	31.0%	-$33M	$640M	$27M
2023	$596M	$125M	90.3%	33.0%	-$121M	$576M	$14M
2022	$492M	$78M	89.2%	25.8%	-$48M	$447M	$6M
2021	$499M	$94M	88.6%	28.3%	-$29M	$412M	$5M
2020	$488M	$86M	87.2%	26.7%	-$8M	$440M	$37M
2019	$474M	$84M	88.3%	26.8%	-$35M	$281M	$1M
2018	$437M	$64M	87.7%	23.1%	$10M	$321M	$7M
2017	$441M	$69M	88.7%	28.8%	$31M	$321M	$214000
2016	—	$60M	—	—	-$33M	$321M	$436000
2015	—	$60M	—	—	$8M	$321M	$4M
2014	—	$61M	—	—	$91M	$326M	$76M
2013	—	$63M	—	—	$38M	$332M	$38M
2012	—	$54M	—	—	$33M	$336M	$23M
2011	—	$46M	—	—	-$114000	$341M	$1M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$169M	$30M	89.8%	30.4%	$23M	$783M	$22M
Dec '25	$164M	$29M	88.9%	27.4%	-$36M	$783M	$19M
Sep '25	$183M	$41M	91.0%	33.8%	$38M	$790M	$26M
Jun '25	$163M	$34M	92.1%	31.3%	$14M	$789M	$20M
Mar '25	$148M	$27M	91.3%	30.8%	-$23M	$690M	$21M
Dec '24	$143M	$28M	92.4%	27.0%	$6M	$640M	$27M
Sep '24	$162M	$36M	92.7%	34.0%	-$478000	$640M	$16M
Jun '24	$155M	$32M	89.6%	33.3%	-$37M	$640M	$4M
Mar '24	$135M	$23M	88.4%	28.8%	-$2M	$576M	$17M
Dec '23	$125M	$20M	0.0%	27.9%	-$41M	$576M	$14M
Sep '23	$152M	$32M	0.0%	34.1%	-$9M	$575M	$9M
Jun '23	$157M	$39M	0.0%	37.4%	-$29M	$576M	$1M
Mar '23	$161M	$34M	0.0%	31.7%	-$42M	$576M	$2M
Dec '22	$125M	$19M	0.0%	22.0%	-$16M	$447M	$6M
Sep '22	$135M	$26M	0.0%	29.9%	-$12M	$447M	$2M
Jun '22	$123M	$20M	0.0%	28.0%	-$23M	$447M	$11M
Mar '22	$109M	$14M	0.0%	22.4%	$3M	$412M	$10M
Dec '21	$117M	$20M	0.0%	25.7%	-$4M	$412M	$5M
Sep '21	$137M	$28M	0.0%	31.3%	$10M	$412M	$7M
Jun '21	$128M	$27M	0.0%	29.5%	-$23M	$412M	$5M

Valuation over time

How the market has priced AWR against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 44.4× (Mar '23) to 24.2× (Jun '26).
The price-to-sales ratio has fallen from 7.1× (Mar '23) to 4.8× (Jun '26).
The dividend yield has risen from 1.6% (Mar '23) to 2.4% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is AWR growing its revenue and profit?

Over the past 5 years, American States Water's revenue has grown 6.2% per year, and net income grown 8.6% per year. These are computed facts, not advice.

How much debt does AWR have?

As of FY2025, American States Water reported $783M of total debt against $19M of cash; operating income covered interest expense 4.3×.

What is AWR's profit margin?

In FY2025, gross margin was 90.8%, operating margin 30.9%, and net margin 19.8%.

What is AWR's P/E ratio?

As of Jun '26, American States Water traded at a price-to-earnings ratio of about 24.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.