AWRNYSEWater SupplyFiscal year ends December 31
AMERICAN STATES WATER CO
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$81.62−1.83 (-2.19%)
Close on Oct 19, 2026
- Market cap
- $3.22B
- P/E (TTM)
- 22.4
- Dividend yield
- 2.38%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
90.8%+3.6 pts over 5 years
Operating margin
30.9%+4.2 pts over 5 years
Net margin
19.8%+2.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.5% | +10.2% | +6.2% | +3.7% | |
| Gross profit | +10.5% | +10.9% | +7.0% | – | |
| Operating income | +10.2% | +17.1% | +9.3% | +5.5% | |
| Net income | +9.4% | +18.5% | +8.6% | +8.0% | |
| EPS, diluted | +6.3% | +16.9% | +7.7% | +7.7% | |
| Dividend per share | +8.3% | +8.3% | +8.7% | +8.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 12.4% | 13.9% | 13.3% | |
| Return on assets | 4.2% | 5.0% | 5.0% | |
| Current ratio | 0.94 | 1.33 | 1.32 | |
| Debt to equity | 0.65 | 0.69 | 0.76 | |
| Net debt to EBITDA | 2.10× | 2.41× | 3.08× | |
| Interest coverage | 5.2× | 5.8× | 4.3× | |
| Capex to revenue | 29.8% | 26.7% | 36.0% | |
| Diluted shares | 37M | 37M | 39M |
Where the cash went
Fiscal 2021 to 2025, five years combined
American States Water generated $729.53M from operations and spent $1.28B on capital expenditure, dividends and share buybacks. 76% of that went back into the business.
Generated
$729.53M
Used
$1.28B
Capital expenditure$968.08M76%Dividends$310.92M24%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin19.8%
×Asset turnover0.25×
×Equity multiplier2.65×
=Return on equity, FY202513.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 19.8% | 0.25× | 2.65× | 13.3% |
| FY2024 | 20.0% | 0.25× | 2.80× | 14.1% |
| FY2023 | 21.0% | 0.28× | 2.88× | 16.8% |
| FY2022 | 15.9% | 0.25× | 2.82× | 11.2% |
| FY2021 | 18.9% | 0.27× | 2.78× | 14.2% |
| FY2020 | 17.7% | 0.28× | 2.76× | 13.9% |
| FY2019 | 17.8% | 0.30× | 2.71× | 14.5% |
| FY2018 | 14.6% | 0.30× | 2.68× | 11.7% |
| FY2017 | 15.7% | 0.31× | 2.82× | 13.5% |
| FY2016 | 13.7% | 0.31× | 2.93× | 12.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$130.44M
- Cash generatingOperating cash flow above zero$229.73M
- Return on assets improvedROA up on the prior year5.3% → 5.2%
- Earnings backed by cashOperating cash flow above net income$229.73M vs $130.44M
- Less leverageLong-term debt to assets fell25.6% → 28.8%
- Better liquidityCurrent ratio rose0.82 → 1.32
- No dilutionShare count did not rise38M → 39M
- Gross margin improvedGross margin up on the prior year90.84% → 90.79%
- More efficientAsset turnover rose0.27 → 0.26