MARKETS / NYSE / Utilities / Water and sanitation / CWT

NYSE · WATER SUPPLY · LARGE CAP

California Water Service Group CWT

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

14 YEARS OF DIVIDEND GROWTH

Revenue

$963.7M

▲ 6.4% YoY

Net income

$128.2M

▼ 32.8% YoY

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

In brief

What this company does

California Water Service Group's business primarily consists of the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, and the provision of water for domestic and municipal fire protection services. In some areas, it also provides wastewater collection and treatment services, including treatment that allows water recycling. It provides utility services to approximately two million people through its operating subsidiaries. At December 31, 2025, it had 1,336 employees, including 1,182 at Cal Water, 84 at Washington Water, 48 at Hawaii Water, and 22 at New Mexico Water. It is a holding company with seven operating subsidiaries: Cal Water, Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company, Inc., TWSC, Inc., CWS Utility Services, and HWS Utility Services LLC. Its original operating subsidiary, Cal Water, began operations in 1926.

Written from the business description in CALIFORNIA WATER SERVICE GROUP's annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 963.7M

Revenue, FY2025 · full 18-year series below

Revenue $M Net income $M

FY2025 · Revenue 963.7 · Net income 128.2

400M800M

2008201120142017202020232025

Compound annual growth

Revenue

+7.6%

+6.7%

Net income

+10.1%

+5.8%

EPS, diluted

+6.7%

+1.8%

+8.6%

Dividend / share

+7.4%

+7.8%

+6.3%

Returned to shareholders

+10.9%

+12.1%

+8.6%

+7.6%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +6.7% a year over the five years to FY2025 — but profit grew slower: net income at +5.8%, earnings per share at +1.8%.

The share count rose from 0.05B to 0.06B 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

13 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 17.7% · Net 13.3%

10%20%

200820162025

ROE

FY2025 · ROE 7.7%

5%10%

200820162025

Three returns, three denominators.

Return on equity7.7%

Return on assets2.4%

Return on capital employed3.4%

Gross margin·

Operating margin17.7%

Net margin13.3%

EBITDAUSD 316.9M

Each USD of equity produced 8 cents of profit this year.

Cash & shareholders

USD 73.9M

returned in FY2025 · dividends + net buybacks

Net buybacks $M Dividends $M

FY2025 · Dividends 73.9 · Net buybacks -2.6

30M60M-100M-200MDividendsNet buybacks

2008201120142017202020232025

Dividends paidUSD 73.9M

Net buybacksUSD -2.6M

Share of profit57.6%

Consecutive raises14 years (since the 2011 share-count change)

USD 73.9M in dividends — 58% of the year's profit went back to shareholders.

Total assetsUSD 5.7B

CashUSD 51.8M

Gross debtUSD 1.5B

Net debtUSD 1.4B

Current ratio0.85×

Net debt stands at 84% of equity.

The 18-year record

18 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—not applicable◌not available in our data

CWT, 18-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	1.0	0.9	0.8	0.8	0.8	0.7	0.7	0.7	0.6	0.6	◌	◌	◌	◌	◌	◌	◌	◌
Operating income $B	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	0.1	0.1
EBITDA $B	0.3	0.4	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	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	−0.0
Net income $B	0.1	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0
EPS, diluted $	2.15	3.25	0.91	1.77	1.96	1.97	1.31	1.36	1.52	1.01	0.94	1.19	1.02	1.17	0.90	0.90	0.98	1.90
Dividend / sh $	1.24	1.12	1.04	1.00	0.92	0.85	0.79	0.75	0.72	0.69	0.67	0.65	0.64	0.63	0.61	0.59	◌	◌
Payout %	58	34	114	56	47	43	60	55	47	68	71	55	63	54	68	66	60	61
ROE %	7.7	12.4	3.8	7.7	9.7	11.4	8.4	9.2	10.7	7.5	7.1	9.3	8.8	10.6	8.5	8.8	9.8	9.9
Shares out B	0.06	0.06	0.06	0.06	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.04	0.04	0.02	0.02	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

California Water Service GroupvsAmerican Water Works Company, Inc.Same industry: Water Supply California Water Service GroupvsEssential Utilities, Inc.Same industry: Water Supply California Water Service GroupvsH2O AmericaSame industry: Water Supply California Water Service GroupvsAmerican States Water Co.Same industry: Water Supply California Water Service GroupvsMiddlesex Water Co.Same industry: Water Supply California Water Service GroupvsConsolidated Water Co. Ltd.Same industry: Water Supply California Water Service GroupvsArtesian Resources Corp.Same industry: Water Supply

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Provenance

Company facts, as filed

How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityWater Supply

Listed onNYSE

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2008