MARKETS / NYSE / AWR

NYSE · WATER SUPPLY · LARGE CAP

American States Water Co. AWR

17 fiscal years on record · USD · FY2025 reported · SEC filings only

12 YEARS OF DIVIDEND GROWTH

Revenue

$136.7M

▲ 8.2% YoY

Net income

$130.4M

▲ 9.4% YoY

Free cash flow

$-7.1M

In brief

What this company does

AWR conducts water and electric utility service operations through its regulated utilities, GSWC and BVES, and contracted services through ASUS and its subsidiaries. AWR's regulated utilities served 265,142 water customers and 24,915 electric customers, a total of 290,057 customers, at December 31, 2025, compared with a total of 289,414 customers a year earlier. AWR and its subsidiaries had a total of 900 employees as of December 31, 2025. GSWC is a public water and wastewater utility engaged in the purchase, production, distribution and sale of water in 11 counties in California, and provides wastewater collection and treatment services in some areas. BVES is a public electric utility that distributes electricity in several San Bernardino County mountain communities in California. ASUS, through its wholly owned subsidiaries, has contracted with the U.S. government to provide water and wastewater services at various military installations.

Written from the business description in AMERICAN STATES WATER CO's annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.

Growth

USD 136.7M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 136.7 · Net income 130.4

Compound annual growth

Revenue

+7.2%

+2.5%

−11.4%

−6.9%

Net income

+18.5%

+8.6%

+8.0%

+9.6%

EPS, diluted

+16.9%

+7.7%

Dividend / share

+8.3%

+8.7%

+8.3%

Returned to shareholders

+9.8%

+9.6%

−3.3%

+9.4%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +2.5% a year over five years — but profit grew faster: net income at +8.6%, earnings per share at +7.7%.

The share count rose from 0.04B to 0.04B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

95 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 148.7% · Net 95.4%

ROE

FY2025 · ROE 13.3%

Gross margin55.7%

Operating margin148.7%

Net margin95.4%

Return on assets5.0%

EBITDAUSD 251.1M

Each USD of equity produced 13 cents of profit this year.

Cash & shareholders

USD 74.7M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF -7.1

Net buybacks $M Dividends $M

FY2025 · Dividends 74.7 · Net buybacks —

Dividends paidUSD 74.7M

Net buybacks—

Share of profit57.2%

Consecutive raises12 years (since the 2013 share-count change)

USD 74.7M in dividends — 57% of the year's profit went back to shareholders.

Total assetsUSD 2.7B

EquityUSD 1.0B

CashUSD 18.8M

Gross debtUSD 782.7M

Net debtUSD 763.9M

Current ratio1.32×

Net debt stands at 73% of equity.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.4	0.5	0.5	0.5	0.5	0.4	0.4	0.4
Operating income $B	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
EBITDA $B	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net income $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0
Free cash flow $B	−0.0	−0.0	−0.1	−0.0	−0.0	−0.0	−0.0	0.0	0.0	−0.0	0.0	0.1	0.0	0.0	−0.0	−0.0	−0.0
EPS, diluted $	3.37	3.17	3.36	2.11	2.55	2.33	2.28	1.72	1.88	1.62	1.60	1.57	1.61	1.41	1.21	1.77	1.62
Dividend / sh $	1.94	1.79	1.66	1.52	1.40	1.28	1.16	1.06	0.99	0.91	0.87	0.83	0.76	0.64	0.55	1.04	1.01
Payout %	57	56	49	72	55	55	51	61	52	56	54	53	47	45	45	58	61
ROE %	13.3	14.1	16.8	11.2	14.2	13.9	14.5	11.7	13.5	12.4	12.4	12.2	13.2	12.5	11.7	9.0	8.2
Shares out B	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.00	0.02	0.02	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

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Provenance

Company facts, as filed

How we verify · 0 failures in 66 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 20 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityWater Supply

Listed onNYSE

Incorporated inCalifornia

Fiscal year endsDecember 31

Data on record since2009