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HTO

H2O America

HTO

H2O America • NASDAQ
$46.43 ▲ 0.11% (+0.05)
Market Cap $1.66 B
52w High $57.17
52w Low $43.75
Dividend Yield 1.68%
P/E 14.65
Volume 172.59K
Outstanding Shares 35.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $240.55M ▲ $69.587M ▲ $45.132M ▲ 18.762% ▲ $1.27 ▲ $97.586M ▲
Q2-2025 $198.255M ▲ $66.051M ▲ $24.675M ▲ 12.446% ▲ $0.71 ▲ $77.442M ▲
Q1-2025 $167.599M ▼ $65.237M ▼ $16.551M ▼ 9.875% ▼ $0.49 ▼ $67.925M ▼
Q4-2024 $197.82M ▼ $71.88M ▲ $22.92M ▼ 11.586% ▼ $0.69 ▼ $71.242M ▼
Q3-2024 $225.063M $62.492M $38.652M 17.174% $1.17 $86.06M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $0 ▼ $0 ▼ $607.122M ▼ $1.524B ▲
Q2-2025 $19.849M ▼ $4.847B ▲ $3.381B ▲ $1.466B ▲
Q1-2025 $23.696M ▲ $4.729B ▲ $3.331B ▲ $1.397B ▲
Q4-2024 $11.114M ▲ $4.658B ▲ $3.291B ▲ $1.367B ▲
Q3-2024 $3.967M $4.552B $3.218B $1.334B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $45.132M ▲ $77.266M ▲ $-151.668M ▼ $65.867M ▼ $-8.535M ▼ $295.14M ▲
Q2-2025 $24.675M ▲ $60.836M ▲ $-133.115M ▼ $68.432M ▲ $-3.847M ▼ $-72.279M ▼
Q1-2025 $16.551M ▼ $43.181M ▲ $-84.759M ▲ $54.16M ▼ $12.582M ▲ $-41.578M ▲
Q4-2024 $22.92M ▼ $41.46M ▼ $-107.417M ▼ $73.104M ▲ $7.147M ▲ $-65.86M ▼
Q3-2024 $38.652M $53.534M $-101.696M $29.325M $-18.837M $-48.203M

Five-Year Company Overview

Income Statement

Income Statement H2O America’s income statement shows a steady, healthy climb rather than big swings. Revenue has inched up year after year, and profits have grown alongside it, suggesting the company is managing costs reasonably well while expanding its customer base and infrastructure. Margins look fairly solid for a regulated water utility, with operating and net income improving over time. Overall, earnings appear consistent and gradually rising, which fits the profile of a mature, regulated business rather than a high‑growth, high‑volatility company.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive utility that has been investing heavily in its network. Total assets have grown meaningfully, which likely represents new pipes, plants, and systems. Debt has also climbed, but shareholder equity has been increasing as well, indicating that the company is not relying solely on borrowing and is retaining value in the business. Cash on hand is slim, which is common for utilities that prefer to keep money deployed in long‑lived assets, but it does mean reliance on steady cash flows and access to financing remains important.

Cash Flow

Cash Flow Cash flow from day‑to‑day operations is positive and has improved over the past few years, which is a good sign of underlying business health. However, free cash flow is consistently negative because the company is spending heavily on capital projects. This is typical for a regulated water utility that must continually upgrade and expand its infrastructure, but it also means the company leans on debt and external funding to support its investment program while still paying dividends. The key risk is that large projects and rising interest costs must be well matched with future rate approvals and customer growth.

Competitive Edge

Competitive Edge H2O America benefits from the classic advantages of a regulated water utility: it usually operates as the sole provider in its service territories, with rates set by regulators to allow a reasonable return. This creates a stable, predictable business environment. Its spread across several states, including faster‑growing areas like Texas, provides some diversification and exposure to population growth. Longstanding dividend increases underscore a reputation for financial reliability. Risks mainly revolve around regulatory decisions, weather and drought pressures, and the need to keep customer bills acceptable while funding heavy infrastructure needs.

Innovation and R&D

Innovation and R&D While not a tech company, H2O America is relatively forward‑leaning for a water utility. It uses advanced leak detection tools, including acoustic and satellite‑based systems, to reduce water loss and avoid costly breaks. New treatment plants include modern control systems for remote monitoring, and smart meters are being rolled out to give both customers and the company better real‑time data. The company is also exploring energy‑saving ideas like hydro turbines at pressure points. Looking ahead, investment in treatment for emerging contaminants, water reuse, and digital analytics will be important areas to watch, though these can require significant spending and careful regulatory support.

Summary

Overall, H2O America looks like a classic regulated water utility with a gradual growth profile, stable and improving earnings, and a heavy but purposeful investment program. Its financials show a business steadily scaling up its asset base while maintaining profitability and growing equity, financed in part through rising debt and ongoing capital spending. The company appears to have a solid competitive moat through regulation and geography, with some added edge from operational technology and customer‑focused programs. Key uncertainties lie in regulatory outcomes, the cost and complexity of future environmental requirements, and the challenge of balancing high infrastructure needs with affordability for customers.

NEWS

November 19, 2025 · 7:30 AM UTC

H2O America Announces Deferral of San Jose Water Company's Cost of Capital Filing to May 1, 2027

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October 27, 2025 · 7:35 PM UTC

H2O America Announces Third Quarter 2025 Financial Results

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October 27, 2025 · 2:32 PM UTC

Newsweek Names H2O America One of America's Greenest Companies 2026

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October 15, 2025 · 9:15 AM UTC

H2O America To Report Third-Quarter 2025 Financial Results on Oct 27

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September 4, 2025 · 9:15 AM UTC

H2O America Releases 2024 Corporate Sustainability Report

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