A Business at a Glance
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AMERICAN STATES WATER CO
AWR
$3.3B
Mkt Cap
$86.41
-0.87%
AMERICAN STATES WATER CO (AWR) has a current P/E ratio of 25.6, compared to its historical median P/E of 28.4. The stock is currently considered Fair based on its historical valuation range.
AMERICAN STATES WATER CO (AWR) has a 5-year average return on invested capital (ROIC) of 9.5%. This is below average and may indicate limited pricing power.
AMERICAN STATES WATER CO (AWR) has a market capitalization of $3.4B. It is classified as a mid-cap stock.
Yes, AMERICAN STATES WATER CO (AWR) pays a dividend with a trailing twelve-month yield of 2.26%.
Based on historical P/E analysis, AMERICAN STATES WATER CO (AWR) appears fair. The current P/E of 25.6 is 10% below its historical median of 28.4. The estimated fair value CAGR (P/E method) is 8.3%.
AMERICAN STATES WATER CO (AWR) operates in the Water Supply industry, within the Utilities sector.
AMERICAN STATES WATER CO (AWR) reported annual revenue of $658 million in its most recent fiscal year, based on SEC EDGAR filings.
This annual report on Form 10-K is a combined report being filed by two separate Registrants, American States Water Company (“AWR”) and Golden State Water Company (“GSWC”). References in this report to “Registrant” are to AWR and GSWC, collectively, unless otherwise specified. GSWC makes no representations as to the information contained in this report relating to AWR and its subsidiaries, other than GSWC. AWR makes its annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, and amendments to those reports, available free of charge through its website, www.aswater.com, as soon as those reports are electronically filed with or furnished to the Securities and Exchange Commission (“SEC”). Such reports are also available on the SEC’s website at www.sec.gov.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 679M | 658M | 595M | 596M | 492M | 499M |
| Net Income | 133M | 130M | 119M | 125M | 78M | 94M |
| EPS | $3.43 | $3.37 | $3.17 | $3.36 | $2.11 | $2.55 |
| Free Cash Flow | 38M | -7.1M | -33M | -121M | -48M | -29M |
| ROIC | 8.7% | 9.3% | 10.2% | 11.8% | 7.9% | 8.4% |
| Gross Margin | - | 55.8% | 57.8% | 57.1% | 52.2% | 54.3% |
| Debt/Equity | 0.74 | 0.76 | 0.71 | 0.75 | 0.64 | 0.91 |
| Dividends/Share | $1.95 | $1.94 | $1.79 | $1.66 | $1.53 | $1.40 |
| Operating Income | 209M | 203M | 184M | 197M | 127M | 141M |
| Operating Margin | 30.8% | 30.9% | 31.0% | 33.0% | 25.8% | 28.3% |
| ROE | 12.5% | 13.2% | 14.0% | 16.8% | 11.2% | 14.2% |
| Shares Outstanding | 39M | 39M | 37M | 37M | 37M | 37M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 466M | 459M | 436M | 441M | 437M | 474M | 488M | 499M | 492M | 596M | 595M | 658M | 679M |
| Gross Margin | 51.5% | 52.6% | 54.3% | 57.1% | 52.3% | 88.3% | 87.2% | 54.3% | 52.2% | 57.1% | 57.8% | 55.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 78M | 80M | 82M | 82M | 83M | 83M | 84M | 84M | 86M | 88M | 101M | 103M | 104M |
| EBIT | 119M | 118M | 114M | 127M | 101M | 127M | 130M | 141M | 127M | 197M | 184M | 203M | 209M |
| Op. Margin | 25.6% | 25.8% | 26.2% | 28.8% | 23.1% | 26.8% | 26.7% | 28.3% | 25.8% | 33.0% | 31.0% | 30.9% | 30.8% |
| Net Income | 61M | 60M | 59M | 69M | 64M | 84M | 86M | 94M | 78M | 125M | 119M | 130M | 133M |
| Net Margin | 13.0% | 13.1% | 13.6% | 15.7% | 14.5% | 17.7% | 17.6% | 18.9% | 15.9% | 20.9% | 20.0% | 19.8% | 19.6% |
| Non-Recurring | 55K | 0 | 0 | 8.3M | 85K | 253K | 31K | 465K | 75K | 100K | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 9.5% | 9.5% | 9.0% | 9.8% | 8.4% | 9.2% | 8.3% | 8.4% | 7.9% | 11.8% | 10.2% | 9.3% | 8.7% |
| ROE | 12.2% | 12.4% | 12.4% | 13.5% | 11.7% | 14.5% | 13.9% | 14.2% | 11.2% | 16.8% | 14.0% | 13.2% | 12.5% |
| ROA | 4.5% | 4.4% | 4.2% | 4.8% | 4.4% | 5.3% | 5.0% | 5.1% | 4.0% | 5.8% | 5.0% | 5.0% | 4.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 163M | 95M | 97M | 145M | 137M | 117M | 122M | 116M | 118M | 68M | 199M | 230M | 256M |
| Free Cash Flow | 91M | 7.8M | -33M | 31M | 10M | -35M | -8.3M | -29M | -48M | -121M | -33M | -7.1M | 38M |
| Owner Earnings | 120M | 50M | 56M | 103M | 92M | 79M | 83M | 73M | 74M | 22M | 151M | 178M | 204M |
| CapEx | 73M | 87M | 130M | 113M | 127M | 152M | 130M | 145M | 166M | 189M | 232M | 237M | 218M |
| Maint. CapEx | 41M | 42M | 39M | 39M | 40M | 35M | 37M | 40M | 41M | 42M | 44M | 48M | 49M |
| Growth CapEx | 31M | 45M | 91M | 74M | 86M | 117M | 94M | 105M | 125M | 146M | 188M | 189M | 169M |
| D&A | 41M | 42M | 39M | 39M | 40M | 35M | 37M | 40M | 41M | 42M | 44M | 48M | 49M |
| CapEx/OCF | 44.4% | 91.8% | 134.0% | 78.3% | 92.5% | 130.0% | 106.8% | 125.0% | 141.1% | 278.6% | 116.7% | 103.1% | 85.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 32M | 33M | 33M | 36M | 39M | 43M | 47M | 52M | 56M | 61M | 67M | 75M | 77M |
| Dividend Yield | 3.3% | 2.7% | 2.7% | 2.4% | 2.1% | 1.7% | 1.8% | 1.8% | 1.9% | 2.0% | 2.4% | 2.6% | 2.3% |
| Share Buybacks | 17M | 73M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 1.5% | 5.4% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.2M | 2.8M | 2.5M | 2.9M | 3.9M | 2.5M | 2.5M | 2.6M | 2.6M | 3.3M | 3.7M | 3.6M | 3.8M |
| Debt Repayment | 21M | 237K | 313K | 329K | 326K | 40M | 336K | 28M | 377K | 334K | 370K | 454K | 454K |
| Balance Sheet | |||||||||||||
| Net Debt | 250M | 317M | 321M | 321M | 464M | 519M | 616M | 619M | 451M | 570M | 623M | 779M | 769M |
| Cash & Equiv. | 76M | 4.4M | 436K | 214K | 7.1M | 1.3M | 37M | 5.0M | 6.0M | 14M | 27M | 19M | 22M |
| Long-Term Debt | 326M | 321M | 321M | 321M | 281M | 281M | 440M | 412M | 447M | 576M | 640M | 783M | 783M |
| Debt/Equity | 0.64 | 0.69 | 0.65 | 0.61 | 0.84 | 0.86 | 1.02 | 0.91 | 0.64 | 0.75 | 0.71 | 0.76 | 0.74 |
| Interest Coverage | 5.5 | 5.6 | 5.2 | 5.6 | 4.3 | 5.2 | 5.8 | 6.2 | 4.7 | 4.6 | 3.7 | 4.3 | 4.5 |
| Equity | 507M | 466M | 494M | 530M | 558M | 602M | 642M | 686M | 710M | 776M | 920M | 1.0B | 1.1B |
| Total Assets | 1.4B | 1.3B | 1.5B | 1.4B | 1.5B | 1.6B | 1.8B | 1.9B | 2.0B | 2.2B | 2.5B | 2.7B | 2.7B |
| Total Liabilities | 200M | 209M | 238M | 157M | 156M | 170M | 176M | 185M | 1.3B | 206M | 1.6B | 238M | 2.1M |
| Intangibles | 11M | 9.5M | 9.6M | 7.9M | 6.4M | 5.7M | 5.9M | 4.0M | 5.1M | 5.1M | 4.1M | 3.1M | 3.1M |
| Retained Earnings | 254M | 221M | 247M | 280M | 305M | 346M | 385M | 428M | 449M | 513M | 565M | 620M | 631M |
| Working Capital | 110M | 9.2M | -11M | -1.2M | -15M | 6.5M | 39M | -18M | -245M | 39M | -52M | 56M | 40M |
| Current Assets | 209M | 133M | 167M | 155M | 131M | 122M | 157M | 138M | 151M | 206M | 233M | 231M | 221M |
| Current Liabilities | 99M | 124M | 178M | 157M | 147M | 116M | 119M | 156M | 397M | 167M | 286M | 175M | 182M |
| Per Share Data | |||||||||||||
| EPS | 1.57 | 1.60 | 1.62 | 1.88 | 1.72 | 2.28 | 2.33 | 2.55 | 2.11 | 3.36 | 3.17 | 3.37 | 3.43 |
| Owner EPS | 3.10 | 1.34 | 1.52 | 2.80 | 2.50 | 2.14 | 2.24 | 1.99 | 1.99 | 0.59 | 4.04 | 4.62 | 5.20 |
| Book Value | 13.10 | 12.40 | 13.48 | 14.44 | 15.11 | 16.33 | 17.36 | 18.59 | 19.15 | 20.94 | 24.54 | 27.11 | 27.14 |
| Cash Flow/Share | 4.22 | 2.53 | 2.64 | 3.94 | 3.70 | 3.17 | 3.30 | 3.13 | 3.18 | 1.83 | 5.30 | 5.96 | 4.64 |
| Dividends/Share | 0.83 | 0.87 | 0.91 | 0.99 | 1.06 | 1.16 | 1.28 | 1.40 | 1.53 | 1.66 | 1.79 | 1.94 | 1.95 |
| Shares Out. | 38.7M | 37.6M | 36.7M | 36.7M | 36.9M | 36.8M | 37.0M | 36.9M | 37.1M | 37.1M | 37.5M | 38.6M | 39.2M |
| Valuation | |||||||||||||
| P/E Ratio | 19.1 | 22.3 | 23.4 | 26.3 | 33.8 | 33.7 | 30.5 | 36.2 | 41.5 | 22.9 | 23.8 | 21.5 | 25.2 |
| P/FCF | 12.8 | 171.3 | N/A | 57.6 | 210.1 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 89.1 |
| EV/EBIT | 11.3 | 14.3 | 15.8 | 17.3 | 24.4 | 24.6 | 23.0 | 27.3 | 31.1 | 17.5 | 19.2 | 17.5 | 19.9 |
| Price/Book | 2.3 | 2.9 | 2.8 | 3.4 | 3.9 | 4.7 | 4.1 | 5.0 | 4.6 | 3.7 | 3.1 | 2.7 | 3.2 |
| Price/Sales | 2.1 | 2.6 | 2.9 | 3.4 | 4.3 | 5.4 | 5.4 | 5.7 | 6.0 | 5.1 | 4.7 | 4.4 | 5.0 |
| FCF Yield | 7.8% | 0.6% | -2.4% | 1.7% | 0.5% | -1.2% | -0.3% | -0.8% | -1.5% | -4.2% | -1.2% | -0.3% | 1.1% |
| Market Cap | 1.2B | 1.3B | 1.4B | 1.8B | 2.2B | 2.8B | 2.6B | 3.4B | 3.3B | 2.9B | 2.8B | 2.8B | 3.4B |
| Avg. Price | 24.80 | 32.00 | 34.27 | 40.97 | 50.41 | 68.64 | 70.94 | 76.47 | 79.71 | 81.13 | 74.41 | 73.98 | 86.41 |
| Year-End Price | 30.05 | 35.67 | 37.92 | 49.36 | 58.09 | 76.75 | 71.03 | 92.32 | 87.52 | 76.98 | 75.47 | 72.54 | 86.41 |
AMERICAN STATES WATER CO passes 5 of 9 quality checks, suggesting mixed fundamentals.
AMERICAN STATES WATER CO trades at 25.6x trailing earnings, compared to its 15-year median P/E of 28.4x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 9.5% with a gross margin of 55.4%. Total shareholder yield (dividends) is 2.3%. At current prices, the estimated annualized return to fair value is -24.5%.
AMERICAN STATES WATER CO (AWR) has a net profit margin of 19.8%. This is a healthy margin.
AMERICAN STATES WATER CO (AWR) generated $-7 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
AMERICAN STATES WATER CO (AWR) has a debt-to-equity ratio of 0.76. This indicates moderate leverage.
AMERICAN STATES WATER CO (AWR) reported earnings per share (EPS) of $3.37 in its most recent fiscal year.
AMERICAN STATES WATER CO (AWR) has a return on equity (ROE) of 13.2%. This indicates moderate shareholder returns.
AMERICAN STATES WATER CO (AWR) has a 5-year average gross margin of 55.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for AMERICAN STATES WATER CO (AWR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AMERICAN STATES WATER CO (AWR) has a book value per share of $27.11, based on its most recent annual SEC filing.
No recent press releases.