HTO Financials H2o America

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 28 h ago Overview →

Growth & profitability

Revenue has grown 8.0% per year over the past 5 years.
Net income has grown faster than revenue (10.8% vs 8.0% per year).
Operating margin has been roughly flat, at 22.0% in the latest year.

Financial health

Total debt ($1.9B) exceeds cash ($21M); net debt is $1.9B.
Total debt has grown in line with revenue (7.1% vs 8.0% per year).
Total debt is 6.4× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 57.2% of earnings.
The dividend has grown 9.9% 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	$806M	$103M	0.0%	22.0%	—	$1.9B	$21M
2024	$736M	$94M	0.0%	23.2%	—	$1.7B	$11M
2023	$678M	$85M	0.0%	22.0%	—	$1.6B	$10M
2022	$587M	$74M	0.0%	22.3%	—	$1.5B	$12M
2021	$560M	$60M	0.0%	19.9%	—	$1.5B	$11M
2020	$549M	$62M	0.0%	21.4%	—	$1.4B	$5M
2019	$448M	$23M	0.0%	12.8%	—	$1.3B	$13M
2018	$389M	$39M	0.0%	18.9%	—	$435M	$421M
2017	$382M	$59M	0.0%	26.7%	—	$435M	$8M
2016	$328M	$53M	0.0%	29.7%	—	$438M	$6M
2015	—	$38M	—	—	—	$384M	$5M
2014	—	$52M	—	—	—	$385M	$2M
2013	—	$22M	—	—	—	$336M	$2M
2012	—	$22M	—	—	—	$341M	$3M
2011	—	$21M	—	—	—	$345M	$27M

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	$179M	$19M	0.0%	20.9%	—	$1.9B	$153M
Dec '25	$199M	$16M	0.0%	16.6%	—	$1.9B	$21M
Sep '25	$244M	$45M	0.0%	26.5%	—	$1.8B	$11M
Jun '25	$198M	$25M	0.0%	22.2%	—	$1.7B	$20M
Mar '25	$165M	$17M	0.0%	21.8%	—	$1.7B	$24M
Dec '24	$197M	$23M	0.0%	22.2%	—	$1.7B	$11M
Sep '24	$217M	$39M	0.0%	26.9%	—	$1.7B	$4M
Jun '24	$173M	$21M	0.0%	23.4%	—	$1.6B	$23M
Mar '24	$150M	$12M	0.0%	18.6%	—	$1.6B	$5M
Dec '23	$171M	$19M	0.0%	21.4%	—	$1.6B	$10M
Sep '23	$212M	$36M	0.0%	26.7%	—	$1.6B	$21M
Jun '23	$160M	$18M	0.0%	19.5%	—	$1.6B	$25M
Mar '23	$136M	$12M	0.0%	18.5%	—	$1.6B	$23M
Dec '22	$147M	$33M	0.0%	34.4%	—	$1.5B	$12M
Sep '22	$170M	$25M	0.0%	22.1%	—	$1.5B	$13M
Jun '22	$149M	$12M	0.0%	17.8%	—	$1.5B	$12M
Mar '22	$122M	$4M	0.0%	13.6%	—	$1.5B	$17M
Dec '21	$137M	$18M	0.0%	23.1%	—	$1.5B	$11M
Sep '21	$163M	$19M	0.0%	20.7%	—	$1.4B	$14M
Jun '21	$147M	$21M	0.0%	22.2%	—	$1.4B	$25M

Valuation over time

How the market has priced HTO against its own fundamentals since 2025-05 — 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 risen from 23.4× (May '25) to 24.4× (Jun '26).
The price-to-sales ratio has risen from 3.0× (May '25) to 3.1× (Jun '26).
The dividend yield has fallen from 2.4% (May '25) to 2.3% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is HTO growing its revenue and profit?

Over the past 5 years, H2o America's revenue has grown 8.0% per year, and net income grown 10.8% per year. These are computed facts, not advice.

How much debt does HTO have?

As of FY2025, H2o America reported $1.9B of total debt against $21M of cash.

What is HTO's profit margin?

In FY2025, gross margin was —, operating margin 22.0%, and net margin 12.7%.

What is HTO's P/E ratio?

As of Jun '26, H2o America traded at a price-to-earnings ratio of about 24.4× (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.