A Business at a Glance
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CALIFORNIA WATER SERVICE GROUP
CWT
$3.0B
Mkt Cap
$50.72
-0.47%
CALIFORNIA WATER SERVICE GROUP (CWT) has a current P/E ratio of 23.6, compared to its historical median P/E of 29.1. The stock is currently considered Fair based on its historical valuation range.
CALIFORNIA WATER SERVICE GROUP (CWT) has a 5-year average return on invested capital (ROIC) of 5.1%. This is below average and may indicate limited pricing power.
CALIFORNIA WATER SERVICE GROUP (CWT) has a market capitalization of $3.0B. It is classified as a mid-cap stock.
Yes, CALIFORNIA WATER SERVICE GROUP (CWT) pays a dividend with a trailing twelve-month yield of 2.42%. The company also returns capital through share buybacks, with a buyback yield of 0.04%.
Based on historical P/E analysis, CALIFORNIA WATER SERVICE GROUP (CWT) appears fair. The current P/E of 23.6 is 19% below its historical median of 29.1. The estimated fair value CAGR (P/E method) is 4.9%.
CALIFORNIA WATER SERVICE GROUP (CWT) operates in the Water Supply industry, within the Utilities sector.
Forward-Looking Statements This annual report, including all documents incorporated by reference, contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (the PSLRA). The forward-looking statements are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment established by the PSLRA. Forward-looking statements in this annual report are based on currently available information, expectations, estimates, assumptions and projections, and our management’s beliefs, assumptions, judgments and expectations about us, the water utility industry and general economic conditions. These statements are not statements of historical fact.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 978M | 964M | 906M | 790M | 773M | 766M |
| Net Income | 119M | 128M | 191M | 52M | 96M | 101M |
| EPS | $2.00 | $2.15 | $3.25 | $0.91 | $1.77 | $1.96 |
| Free Cash Flow | 235M | 235M | 234M | 163M | 192M | 174M |
| ROIC | 4.3% | 4.8% | 6.6% | 3.1% | 5.2% | 5.7% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 1.01 | 0.96 | 0.85 | 0.87 | 0.86 | 0.95 |
| Dividends/Share | $1.23 | $1.24 | $1.12 | $1.04 | $1.00 | $0.92 |
| Operating Income | 166M | 170M | 225M | 77M | 128M | 127M |
| Operating Margin | 17.0% | 17.7% | 24.9% | 9.8% | 16.5% | 16.6% |
| ROE | 7.1% | 7.7% | 12.4% | 3.8% | 7.7% | 9.7% |
| Shares Outstanding | 60M | 60M | 59M | 57M | 54M | 52M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 597M | 588M | 590M | 622M | 675M | 664M | 698M | 766M | 773M | 790M | 906M | 964M | 978M |
| Gross Margin | 70.2% | 71.4% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | 5.4M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 97M | 113M | 88M | 93M | 101M | 109M | 117M | 127M | 133M | 142M | 140M | 142M | 141M |
| EBIT | 82M | 71M | 83M | 107M | 111M | 99M | 137M | 127M | 128M | 77M | 225M | 170M | 166M |
| Op. Margin | 13.7% | 12.1% | 14.0% | 17.2% | 16.4% | 15.0% | 19.6% | 16.6% | 16.5% | 9.8% | 24.9% | 17.7% | 17.0% |
| Net Income | 57M | 45M | 49M | 73M | 66M | 63M | 97M | 101M | 96M | 52M | 191M | 128M | 119M |
| Net Margin | 9.5% | 7.7% | 8.3% | 11.7% | 9.7% | 9.5% | 13.9% | 13.2% | 12.4% | 6.6% | 21.1% | 13.3% | 12.2% |
| Non-Recurring | 51K | 315K | -146K | 663K | 50K | 28K | 0 | 94K | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 5.1% | 3.9% | 4.3% | 5.3% | 6.0% | 4.7% | 6.5% | 5.7% | 5.2% | 3.1% | 6.6% | 4.8% | 4.3% |
| ROE | 9.1% | 7.0% | 7.5% | 10.7% | 9.2% | 8.4% | 11.4% | 9.7% | 7.7% | 3.8% | 12.4% | 7.7% | 7.1% |
| ROA | 2.6% | 2.0% | 2.1% | 2.8% | 2.3% | 2.1% | 3.0% | 2.9% | 2.4% | 1.2% | 3.9% | 2.4% | 2.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 128M | 145M | 160M | 148M | 179M | 169M | 118M | 232M | 244M | 218M | 291M | 303M | 314M |
| Free Cash Flow | 128M | 145M | 160M | 148M | 179M | 128M | 63M | 174M | 192M | 163M | 234M | 235M | 235M |
| Owner Earnings | 63M | 79M | 92M | 66M | 90M | 71M | 12M | 113M | 121M | 92M | 153M | 151M | 159M |
| CapEx | 0 | 0 | 0 | 0 | 0 | 41M | 55M | 58M | 52M | 54M | 57M | 68M | 78M |
| Maint. CapEx | 63M | 63M | 65M | 79M | 86M | 91M | 101M | 112M | 117M | 123M | 134M | 147M | 150M |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 63M | 63M | 65M | 79M | 86M | 91M | 101M | 112M | 117M | 123M | 134M | 147M | 150M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 46.6% | 24.9% | 21.1% | 25.0% | 19.5% | 22.4% | 25.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 31M | 32M | 33M | 35M | 36M | 38M | 42M | 47M | 54M | 59M | 65M | 74M | 74M |
| Dividend Yield | 3.6% | 3.6% | 2.8% | 2.3% | 2.1% | 1.7% | 2.0% | 1.7% | 1.9% | 2.0% | 2.3% | 2.7% | 2.4% |
| Share Buybacks | 0 | 0 | 744K | 1.5M | 1.6M | 2.5M | 1.7M | 1.8M | 2.0M | 1.8M | 1.4M | 1.4M | 1.1M |
| Buyback Yield | N/A | N/A | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% |
| Stock-Based Comp | 2.2M | 2.6M | 2.8M | 3.1M | 3.1M | 6.7M | 4.6M | 6.8M | 5.2M | 3.0M | 3.7M | 5.0M | 4.3M |
| Debt Repayment | 8.7M | 7.0M | 7.0M | 27M | 17M | 406M | 22M | 5.4M | 5.4M | 1.8M | 889K | 71M | 71M |
| Balance Sheet | |||||||||||||
| Net Debt | 466M | 530M | 630M | 712M | 833M | 955M | 1.1B | 1.0B | 1.1B | 1.2B | 1.3B | 1.6B | 1.6B |
| Cash & Equiv. | 20M | 8.8M | 25M | 95M | 47M | 43M | 45M | 78M | 62M | 40M | 50M | 52M | 58M |
| Long-Term Debt | 419M | 508M | 532M | 516M | 710M | 787M | 781M | 1.1B | 1.1B | 1.1B | 1.1B | 1.5B | 1.5B |
| Debt/Equity | 0.81 | 0.85 | 0.99 | 1.15 | 1.21 | 1.28 | 1.27 | 0.95 | 0.86 | 0.87 | 0.85 | 0.96 | 1.01 |
| Interest Coverage | 2.9 | 2.4 | 2.5 | 3.0 | 2.8 | 2.2 | 3.0 | 2.8 | 2.7 | 1.5 | 3.7 | 2.4 | 51.2 |
| Equity | 627M | 642M | 659M | 699M | 730M | 780M | 921M | 1.2B | 1.3B | 1.4B | 1.6B | 1.7B | 1.7B |
| Total Assets | 2.2B | 2.2B | 2.4B | 2.7B | 2.8B | 3.1B | 3.4B | 3.6B | 4.3B | 4.6B | 5.2B | 5.7B | 5.8B |
| Total Liabilities | 1.6B | 1.6B | 1.8B | 2.0B | 2.1B | 2.3B | 2.5B | 2.4B | 2.9B | 3.2B | 3.5B | 4.0B | 67M |
| Intangibles | N/A | N/A | 8.0M | 7.2M | 8.1M | 7.1M | 8.3M | 9.3M | 9.7M | 13M | 17M | 17M | 17M |
| Retained Earnings | 296M | 309M | 324M | 363M | 392M | 406M | 461M | 515M | 557M | 550M | 675M | 729M | 713M |
| Working Capital | -64M | -20M | -108M | -263M | -132M | -174M | -323M | 29M | 885K | -134M | -214M | -64M | -170M |
| Current Assets | 154M | 128M | 142M | 228M | 189M | 185M | 266M | 300M | 296M | 296M | 324M | 354M | 375M |
| Current Liabilities | 218M | 148M | 250M | 491M | 321M | 359M | 589M | 272M | 295M | 430M | 538M | 418M | 545M |
| Per Share Data | |||||||||||||
| EPS | 1.19 | 0.94 | 1.01 | 1.52 | 1.36 | 1.31 | 1.97 | 1.96 | 1.77 | 0.91 | 3.25 | 2.15 | 2.00 |
| Owner EPS | 1.31 | 1.65 | 1.92 | 1.38 | 1.87 | 1.47 | 0.25 | 2.20 | 2.24 | 1.61 | 2.61 | 2.53 | 2.66 |
| Book Value | 13.14 | 13.41 | 13.68 | 14.57 | 15.14 | 16.19 | 18.74 | 22.71 | 24.38 | 25.07 | 27.90 | 28.37 | 28.12 |
| Cash Flow/Share | 2.69 | 3.02 | 3.33 | 3.08 | 3.71 | 3.50 | 2.40 | 4.49 | 4.49 | 3.82 | 4.95 | 5.07 | 4.50 |
| Dividends/Share | 0.65 | 0.67 | 0.69 | 0.72 | 0.75 | 0.79 | 0.85 | 0.92 | 1.00 | 1.04 | 1.12 | 1.24 | 1.23 |
| Shares Out. | 47.7M | 47.9M | 48.2M | 48.0M | 48.2M | 48.2M | 49.2M | 51.6M | 54.2M | 57.0M | 58.7M | 59.6M | 59.9M |
| Valuation | |||||||||||||
| P/E Ratio | 16.8 | 20.8 | 28.1 | 25.4 | 30.1 | 34.7 | 24.7 | 32.8 | 32.2 | 54.5 | 13.6 | 20.0 | 25.4 |
| P/FCF | 7.4 | 6.5 | 8.5 | 12.5 | 11.0 | 17.1 | 38.0 | 19.1 | 16.1 | 17.3 | 11.1 | 10.9 | 12.9 |
| EV/EBIT | 17.3 | 20.6 | 25.9 | 23.1 | 25.0 | 31.0 | 25.3 | 33.6 | 32.0 | 51.7 | 17.2 | 23.9 | 28.2 |
| Price/Book | 1.5 | 1.5 | 2.1 | 2.6 | 2.7 | 2.8 | 2.6 | 2.8 | 2.3 | 2.0 | 1.6 | 1.5 | 1.8 |
| Price/Sales | 1.5 | 1.5 | 2.0 | 2.3 | 2.4 | 3.0 | 2.7 | 3.5 | 3.4 | 3.6 | 2.7 | 2.7 | 3.1 |
| FCF Yield | 13.5% | 15.5% | 11.7% | 8.0% | 9.1% | 5.9% | 2.6% | 5.2% | 6.2% | 5.8% | 9.0% | 9.1% | 7.7% |
| Market Cap | 952M | 935M | 1.4B | 1.9B | 2.0B | 2.2B | 2.4B | 3.3B | 3.1B | 2.8B | 2.6B | 2.6B | 3.0B |
| Avg. Price | 18.29 | 18.75 | 24.69 | 31.90 | 35.38 | 45.14 | 43.28 | 53.89 | 53.70 | 50.68 | 47.64 | 45.33 | 50.72 |
| Year-End Price | 19.97 | 19.52 | 28.37 | 38.60 | 40.94 | 45.41 | 48.64 | 64.27 | 56.93 | 49.61 | 44.09 | 43.08 | 50.72 |
CALIFORNIA WATER SERVICE GROUP passes 2 of 9 quality checks, indicating weak fundamentals.
CALIFORNIA WATER SERVICE GROUP trades at 23.6x trailing earnings, compared to its 15-year median P/E of 29.1x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.9x vs a median of 14.3x. The company's 5-year average ROIC is 5.1%. Total shareholder yield (dividends) is 2.5%. At current prices, the estimated annualized return to fair value is +4.9%.
CALIFORNIA WATER SERVICE GROUP (CWT) reported annual revenue of $964 million in its most recent fiscal year, based on SEC EDGAR filings.
CALIFORNIA WATER SERVICE GROUP (CWT) has a net profit margin of 13.3%. This is a healthy margin.
CALIFORNIA WATER SERVICE GROUP (CWT) generated $235 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CALIFORNIA WATER SERVICE GROUP (CWT) has a debt-to-equity ratio of 0.96. This indicates moderate leverage.
CALIFORNIA WATER SERVICE GROUP (CWT) reported earnings per share (EPS) of $2.15 in its most recent fiscal year.
CALIFORNIA WATER SERVICE GROUP (CWT) has a return on equity (ROE) of 7.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for CALIFORNIA WATER SERVICE GROUP (CWT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CALIFORNIA WATER SERVICE GROUP (CWT) has a book value per share of $28.37, based on its most recent annual SEC filing.