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 Aug 9, 2026, 10:18 UTC 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

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
2025	$658M	$130M	90.8%	30.9%	12.5%	4.8%	-$7M	$783M	$19M
2024	$595M	$119M	90.8%	31.0%	13.0%	4.8%	-$33M	$640M	$27M
2023	$596M	$125M	90.3%	33.0%	16.1%	5.6%	-$121M	$576M	$14M
2022	$492M	$78M	89.2%	25.8%	11.0%	3.9%	-$48M	$447M	$6M
2021	$499M	$94M	88.6%	28.3%	13.8%	5.0%	-$29M	$412M	$5M
2020	$488M	$86M	87.2%	26.7%	13.5%	4.8%	-$8M	$440M	$37M
2019	$474M	$84M	88.3%	26.8%	14.0%	5.1%	-$35M	$281M	$1M
2018	$437M	$64M	87.7%	23.1%	11.4%	4.3%	$10M	$321M	$7M
2017	$441M	$69M	88.7%	28.8%	13.1%	4.9%	$31M	$321M	$214000
2016	—	$60M	—	—	12.1%	4.1%	-$33M	$321M	$436000
2015	—	$60M	—	—	13.0%	4.5%	$8M	$321M	$4M
2014	—	$61M	—	—	12.0%	4.4%	$91M	$326M	$76M
2013	—	$63M	—	—	12.7%	4.8%	$38M	$332M	$38M
2012	—	$54M	—	—	11.9%	4.2%	$33M	$336M	$23M
2011	—	$46M	—	—	11.2%	3.7%	-$114000	$341M	$1M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
Jun '26	$181M	$43M	90.8%	35.3%	3.9%	1.6%	-$4M	$718M	$22M
Mar '26	$169M	$30M	89.8%	30.4%	2.8%	1.1%	$23M	$783M	$22M
Dec '25	$164M	$29M	88.9%	27.4%	2.7%	1.1%	-$36M	$783M	$19M
Sep '25	$183M	$41M	91.0%	33.8%	4.1%	1.6%	$38M	$790M	$26M
Jun '25	$163M	$34M	92.1%	31.3%	3.5%	1.3%	$14M	$789M	$20M
Mar '25	$148M	$27M	91.3%	30.8%	2.8%	1.1%	-$23M	$690M	$21M
Dec '24	$143M	$28M	92.4%	27.0%	3.1%	1.1%	$6M	$640M	$27M
Sep '24	$162M	$36M	92.7%	34.0%	4.1%	1.5%	-$478000	$640M	$16M
Jun '24	$155M	$32M	89.6%	33.3%	3.8%	1.4%	-$37M	$640M	$4M
Mar '24	$135M	$23M	88.4%	28.8%	2.9%	1.0%	-$2M	$576M	$17M
Dec '23	$125M	$20M	0.0%	27.9%	2.6%	0.9%	-$41M	$576M	$14M
Sep '23	$152M	$32M	0.0%	34.1%	4.1%	1.4%	-$9M	$575M	$9M
Jun '23	$157M	$39M	0.0%	37.4%	5.1%	1.8%	-$29M	$576M	$1M
Mar '23	$161M	$34M	0.0%	31.7%	4.7%	1.7%	-$42M	$576M	$2M
Dec '22	$125M	$19M	0.0%	22.0%	2.6%	0.9%	-$16M	$447M	$6M
Sep '22	$135M	$26M	0.0%	29.9%	3.6%	1.3%	-$12M	$447M	$2M
Jun '22	$123M	$20M	0.0%	28.0%	2.9%	1.0%	-$23M	$447M	$11M
Mar '22	$109M	$14M	0.0%	22.4%	2.1%	0.7%	$3M	$412M	$10M
Dec '21	$117M	$20M	0.0%	25.7%	3.0%	1.1%	-$4M	$412M	$5M
Sep '21	$137M	$28M	0.0%	31.3%	4.1%	1.5%	$10M	$412M	$7M

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 44.9× (Mar '23) to 26.6× (Nov '26).
The price-to-sales ratio has fallen from 7.2× (Mar '23) to 5.3× (Nov '26).
The dividend yield has risen from 1.6% (Mar '23) to 2.1% (Nov '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?

American States Water's P/E (TTM) is 24.27 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AWR stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 26.6× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.