CWT Financials California Water Service

14 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 6.7% per year over the past 5 years.
Net income has grown slower than revenue (5.7% vs 6.7% per year).
Operating margin has contracted, at 17.7% in the latest year.

Financial health

Total debt ($1.6B) exceeds cash ($52M); net debt is $1.6B.
Total debt has grown in line with revenue (6.8% vs 6.7% per year).
Operating income covered interest expense 2.4× in the latest year.
Total debt is 5.1× EBITDA.

Shareholder returns

Dividends have been paid for 14 consecutive years, consuming 57.8% of earnings.
The dividend has grown 12.1% 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	$964M	$128M	0.0%	17.7%	—	$1.6B	$52M
2024	$906M	$191M	0.0%	24.9%	—	$1.4B	$50M
2023	$790M	$52M	0.0%	9.8%	—	$1.2B	$40M
2022	$773M	$96M	0.0%	16.5%	—	$1.1B	$62M
2021	$766M	$101M	0.0%	16.6%	—	$1.1B	$78M
2020	$698M	$97M	0.0%	19.6%	—	$1.2B	$45M
2019	$664M	$63M	0.0%	15.0%	—	$984M	$43M
2018	$675M	$66M	0.0%	16.4%	—	$880M	$47M
2017	$622M	$73M	0.0%	17.2%	—	$807M	$95M
2016	$590M	—	0.0%	14.0%	—	$655M	$26M
2011	—	$38M	—	—	—	$488M	$27M
2010	—	$38M	—	—	—	$505M	$42M
2009	—	$41M	—	—	—	$399M	$10M
2008	—	$40M	—	—	—	—	$14M

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	$197M	$4M	0.0%	9.2%	—	—	$58M
Dec '25	$211M	$11M	0.0%	12.2%	—	$1.6B	$52M
Sep '25	$314M	$61M	0.0%	22.5%	—	—	$76M
Jun '25	$256M	$42M	0.0%	20.2%	—	—	$51M
Mar '25	$183M	$13M	0.0%	12.2%	—	—	$44M
Dec '24	$218M	$20M	0.0%	14.8%	—	$1.4B	$50M
Sep '24	$306M	$61M	0.0%	21.8%	—	$1.3B	$60M
Jun '24	$227M	$41M	0.0%	21.2%	—	$1.3B	$37M
Mar '24	$155M	$70M	0.0%	50.3%	—	$1.3B	$43M
Dec '23	$198M	$30M	0.0%	17.8%	—	$1.2B	$40M
Sep '23	$253M	$34M	0.0%	17.2%	—	$1.2B	$35M
Jun '23	$194M	$10M	0.0%	8.2%	—	$1.2B	$56M
Mar '23	$145M	-$22M	0.0%	-12.1%	—	$1.2B	$52M
Dec '22	$177M	$20M	0.0%	14.9%	—	$1.1B	$62M
Sep '22	$238M	$56M	0.0%	27.3%	—	$1.1B	$90M
Jun '22	$199M	$19M	0.0%	13.7%	—	$1.1B	$62M
Mar '22	$159M	$1M	0.0%	5.7%	—	$1.1B	$68M
Dec '21	$168M	$4M	0.0%	6.2%	—	$1.1B	$78M
Sep '21	$238M	$62M	0.0%	29.9%	—	$1.2B	$140M
Jun '21	$212M	$38M	0.0%	19.9%	—	$1.2B	$66M

Valuation over time

How the market has priced CWT 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 36.3× (Mar '23) to 22.3× (Jun '26).
The price-to-sales ratio has fallen from 4.5× (Mar '23) to 3.0× (Jun '26).
The dividend yield has risen from 1.6% (Mar '23) to 2.6% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is CWT growing its revenue and profit?

Over the past 5 years, California Water Service's revenue has grown 6.7% per year, and net income grown 5.7% per year. These are computed facts, not advice.

How much debt does CWT have?

As of FY2025, California Water Service reported $1.6B of total debt against $52M of cash; operating income covered interest expense 2.4×.

What is CWT's profit margin?

In FY2025, gross margin was —, operating margin 17.7%, and net margin 13.3%.

What is CWT's P/E ratio?

As of Jun '26, California Water Service traded at a price-to-earnings ratio of about 22.3× (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.