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NYSE · Utilities

AMERICAN STATES WATER CO (AWR)

As-reported financials and SEC filings for AMERICAN STATES WATER CO. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About AMERICAN STATES WATER CO

American States Water Company operates through three main segments: water, electric, and contracted services. It provides regulated water and wastewater services in California through its subsidiary Golden State Water Company and electric distribution services in certain California mountain communities via Bear Valley Electric Service. Additionally, through American States Utility Services and its subsidiaries, the company manages water and wastewater systems at various U.S. military bases under long-term contracts with the U.S. government.

Snapshot

Revenue
$658.1M
Revenue growth (YoY)
10.5%
Net income
$130.4M
Diluted EPS
$3.37
Gross margin
90.8%
Operating margin
30.9%
Net margin
19.8%
FCF margin
-1.1%
ROE
12.5%
net income / fiscal-year-end equity
P/E
24.6×
trailing when available, otherwise FY EPS
Market cap
$3.56B
Long-term debt / equity
0.75×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at American States Water

  • Revenue grew 10.5% to $658M in FY2025, after a 0.0% decline the year before.
  • Operating margin is 30.9% in FY2025, +2.6 pp against 28.3% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $181M, up 11.2% from Q2 FY2025.
  • Free cash flow was negative $7M in FY2025.
  • Net income rose 9.4% to $130M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where American States Water’s fundamentals sit among the 98 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin90.8%
Highest of 26
Operating margin30.9%
85th percentile of 86
Net margin19.8%
80th percentile of 91
FCF margin-1.1%
53rd percentile of 76
Revenue growth (YoY)+10.5%
61st percentile of 94
ROE12.5%
83rd percentile of 89
P/E24.6×
76th percentile of 83
Long-term debt / equity0.75×
22nd percentile of 84
Short interest4.13d
37th percentile of 98

American States Water’s gross margin of 90.8% is the highest of the 26 Utilities companies reporting it. American States Water’s operating margin of 30.9% ranks in the 85th percentile of the 86 Utilities companies reporting it.

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $79,970. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+6 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
4
4 trimmed, 0 exited
Combined position
$127.4M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$76.0M919.6KAdded
Two Sigma InvestmentsquantQ2 2026$23.7M287.2KAdded
Millennium ManagementquantQ2 2026$10.4M126.4KReduced
D. E. ShawquantQ2 2026$9.2M111.7KAdded
Bridgewater AssociatesQ2 2026$2.5M30.3KReduced
Citadel AdvisorsquantQ2 2026$2.5M30.2KReduced
Gotham Asset ManagementQ2 2026$1.8M22.2KAdded
Renaissance TechnologiesquantQ2 2026$1.2M14.7KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$80K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-19
filed 2026-08-20
HOLLOWAY ANNE MDirectorSell900$88.86$80K
2026-05-20
filed 2026-05-21
HOLLOWAY ANNE MDirectorSell662$75.58$50K
2026-05-19
HOLLOWAY ANNE MDirectorBuy527$75.92$40K
2026-05-18
filed 2026-05-19
HOLLOWAY ANNE MDirectorBuy135$75.92$10K
2026-05-15
Rowley Paul JSVP OF OPERATIONSSell1.3K$76.05$99K
2026-02-23
filed 2026-05-19
HOLLOWAY ANNE MDirectorBuy138$73.50$10K
2025-11-14
filed 2026-05-19
HOLLOWAY ANNE MDirectorBuy135$74.59$10K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
1.0M
settled 2026-08-14
Change vs prior
+4.7%
vs previous settlement
Days to cover
4.13
at avg daily volume
Avg daily volume
243.6K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-141.0M+4.7%4.13
2026-07-31960.5K-8.1%2.99
2026-07-151.0M+17.6%3.39
2026-06-30889.1K-2.1%1.96
2026-06-15908.3K+3.8%2.70
2026-05-29875.4K-3.0%2.92
2026-05-15902.6K+7.0%3.24
2026-04-30844.0K+7.0%1.72

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$658.1M$595.5M$595.7M$491.5M$498.9M
Gross profit$597.5M$540.9M$537.8M$438.4M$441.9M
Operating income$203.3M$184.5M$196.7M$126.6M$141.0M
Net income$130.4M$119.3M$124.9M$78.4M$94.3M
Diluted EPS$3.37$3.17$3.36$2.11$2.55

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$18.8M$26.7M$14.1M$6.0M$5.0M
Current assets$231.1M$233.3M$206.0M$151.3M$138.1M
Total assets$2.72B$2.50B$2.25B$2.03B$1.90B
Current liabilities$174.6M$285.5M$166.6M$396.5M$155.6M
Long-term debt$782.7M$640.4M$575.6M$446.5M$412.2M
Total liabilities$1.67B$1.58B$1.47B$1.32B$1.22B
Total equity$1.05B$920.1M$776.1M$709.5M$685.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$229.7M$198.7M$67.7M$117.8M$115.6M
Capital expenditure$236.8M$232.0M$188.5M$166.2M$144.5M
Free cash flow$-7.1M$-33.2M$-120.9M$-48.4M$-28.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$181.3M11.2%$43.3M$1.09
Q1 FY2026$169.2M14.3%$29.9M$0.76
Q4 FY2025$164.3M14.8%$28.7M$0.74
Q3 FY2025$182.7M12.9%$41.2M$1.06
Q2 FY2025$163.1M5.0%$33.7M$0.87
Q1 FY2025$148.0M9.4%$26.8M$0.70
Q4 FY2024$143.1M14.3%$28.4M$0.75
Q3 FY2024$161.8M6.6%$35.8M$0.95

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryWater Supply
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2014
SEC CIK1056903

Selected SEC filings

10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-05-21
View on EDGAR →
8-K2026-05-06
View on EDGAR →
8-K2026-03-27
View on EDGAR →

Largest Utilities peers

All Utilities companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.