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Stocks · Utilities · Water Supply

H2O AMERICA

HTO Clue Score51
United States Fiscal year ends December CIK 0000766829
$58.65 +0.29% Close, 12 Oct 2026
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Price $58.65 −13.57% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue328.2Operating income97.4Net income52.8EPS, diluted2.57Fiscal year 2017Revenue381.8 +16.3%Operating income101.9Net income59.2 +12.0%EPS, diluted2.86 +11.3%Fiscal year 2018Revenue389.3 +2.0%Operating income73.4Net income38.8 −34.5%EPS, diluted1.82 −36.4%Fiscal year 2019Revenue447.7 +15.0%Operating income57.5Net income23.4 −39.6%EPS, diluted0.82 −54.9%Fiscal year 2020Revenue549.3 +22.7%Operating income117.7Net income61.5 +162.9%EPS, diluted2.14 +161.0%Fiscal year 2021Revenue559.6 +1.9%Operating income111.2Net income60.5 −1.7%EPS, diluted2.03 −5.1%Fiscal year 2022Revenue586.9 +4.9%Operating income131.0Net income73.8 +22.1%EPS, diluted2.43 +19.7%Fiscal year 2023Revenue678.2 +15.5%Operating income149.4Net income85.0 +15.1%EPS, diluted2.68 +10.3%Fiscal year 2024Revenue736.3 +8.6%Operating income170.5Net income94.0 +10.6%EPS, diluted2.87 +7.1%Fiscal year 2025Revenue805.6 +9.4%Operating income177.5Net income102.6 +9.2%EPS, diluted2.92 +1.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 328.2 381.8 389.3 447.7 549.3 559.6 586.9 678.2 736.3 805.6
Growth +16.3% +2.0% +15.0% +22.7% +1.9% +4.9% +15.5% +8.6% +9.4%
Operating income 97.4 101.9 73.4 57.5 117.7 111.2 131.0 149.4 170.5 177.5
Net income 52.8 59.2 38.8 23.4 61.5 60.5 73.8 85.0 94.0 102.6
Growth +12.0% −34.5% −39.6% +162.9% −1.7% +22.1% +15.1% +10.6% +9.2%
EPS, diluted 2.57 2.86 1.82 0.82 2.14 2.03 2.43 2.68 2.87 2.92
Growth +11.3% −36.4% −54.9% +161.0% −5.1% +19.7% +10.3% +7.1% +1.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin29.7%Net margin16.1%Fiscal year 2017Operating margin26.7%Net margin15.5%Fiscal year 2018Operating margin18.9%Net margin10.0%Fiscal year 2019Operating margin12.8%Net margin5.2%Fiscal year 2020Operating margin21.4%Net margin11.2%Fiscal year 2021Operating margin19.9%Net margin10.8%Fiscal year 2022Operating margin22.3%Net margin12.6%Fiscal year 2023Operating margin22.0%Net margin12.5%Fiscal year 2024Operating margin23.2%Net margin12.8%Fiscal year 2025Operating margin22.0%Net margin12.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 29.7% 26.7% 18.9% 12.8% 21.4% 19.9% 22.3% 22.0% 23.2% 22.0%
Net margin 16.1% 15.5% 10.0% 5.2% 11.2% 10.8% 12.6% 12.5% 12.8% 12.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow114.6Dividends paid−16.6Fiscal year 2017Operating cash flow101.1Dividends paid−21.3Fiscal year 2018Operating cash flow91.3Dividends paid−23.1Fiscal year 2019Operating cash flow130.0Dividends paid−34.1Fiscal year 2020Operating cash flow104.1Dividends paid−36.5Fiscal year 2021Operating cash flow130.0Dividends paid−40.1Fiscal year 2022Operating cash flow166.2Dividends paid−43.6Fiscal year 2023Operating cash flow190.8Dividends paid−47.9Fiscal year 2024Operating cash flow195.5Dividends paid−52.1Fiscal year 2025Operating cash flow244.8Dividends paid−58.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 114.6 101.1 91.3 130.0 104.1 130.0 166.2 190.8 195.5 244.8
Dividends paid −16.6 −21.3 −23.1 −34.1 −36.5 −40.1 −43.6 −47.9 −52.1 −58.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash6.3Total debt433.5Net cash (debt)−427.1Shareholders’ equity421.6Debt to equity1.03Fiscal year 2017Cash7.8Total debt431.1Net cash (debt)−423.3Shareholders’ equity463.2Debt to equity0.93Fiscal year 2018Cash420.7Total debt431.4Net cash (debt)−10.7Shareholders’ equity889.3Debt to equity0.49Fiscal year 2019Cash12.9Total debt1,305.9Net cash (debt)−1,292.9Shareholders’ equity890.0Debt to equity1.47Fiscal year 2020Cash5.3Total debt1,363.8Net cash (debt)−1,358.6Shareholders’ equity917.2Debt to equity1.49Fiscal year 2021Cash10.9Total debt1,532.0Net cash (debt)−1,521.1Shareholders’ equity1,034.5Debt to equity1.48Fiscal year 2022Cash12.3Total debt1,496.3Net cash (debt)−1,484.0Shareholders’ equity1,110.9Debt to equity1.35Fiscal year 2023Cash9.7Total debt1,575.7Net cash (debt)−1,566.0Shareholders’ equity1,233.4Debt to equity1.28Fiscal year 2024Cash11.1Total debt1,710.6Net cash (debt)−1,699.4Shareholders’ equity1,367.0Debt to equity1.25Fiscal year 2025Cash20.7Total debt1,890.3Net cash (debt)−1,869.6Shareholders’ equity1,540.8Debt to equity1.23
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 6.3 7.8 420.7 12.9 5.3 10.9 12.3 9.7 11.1 20.7
Total debt 433.5 431.1 431.4 1,305.9 1,363.8 1,532.0 1,496.3 1,575.7 1,710.6 1,890.3
Net cash (debt) −427.1 −423.3 −10.7 −1,292.9 −1,358.6 −1,521.1 −1,484.0 −1,566.0 −1,699.4 −1,869.6
Shareholders’ equity 421.6 463.2 889.3 890.0 917.2 1,034.5 1,110.9 1,233.4 1,367.0 1,540.8
Debt to equity 1.03 0.93 0.49 1.47 1.49 1.48 1.35 1.28 1.25 1.23

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
328.2 381.8 389.3 447.7 549.3 559.6 586.9 678.2 736.3 805.6
Growth +16.3% +2.0% +15.0% +22.7% +1.9% +4.9% +15.5% +8.6% +9.4%
41.5 48.9 48.9 66.3 79.7 87.3 95.4 98.7 105.8 126.0
97.4 101.9 73.4 57.5 117.7 111.2 131.0 149.4 170.5 177.5
Growth +4.5% −27.9% −21.7% +104.7% −5.5% +17.8% +14.1% +14.1% +4.1%
86.4 96.5 48.8 32.1 69.9 68.8 82.3 90.9 102.9 114.9
33.5 35.4 10.1 8.5 8.4 8.4 8.5 6.0 9.0 12.4
52.8 59.2 38.8 23.4 61.5 60.5 73.8 85.0 94.0 102.6
Growth +12.0% −34.5% −39.6% +162.9% −1.7% +22.1% +15.1% +10.6% +9.2%
Per share
2.59 2.89 1.83 0.82 2.16 2.04 2.44 2.69 2.87 2.93
2.57 2.86 1.82 0.82 2.14 2.03 2.43 2.68 2.87 2.92
Growth +11.3% −36.4% −54.9% +161.0% −5.1% +19.7% +10.3% +7.1% +1.7%
20.4 20.5 21.2 28.4 28.5 29.6 30.3 31.6 32.7 35.0
20.6 20.7 21.3 28.6 28.7 29.7 30.4 31.7 32.8 35.1
Growth +0.5% +3.1% +33.9% +0.5% +3.6% +2.3% +4.1% +3.5% +7.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 8.0% a year over five years, and earnings per share grew 6.4% a year.
  • The diluted share count rose 22.3% in five years, which is dilution.
  • Operating margin is flat at 22.0%.
  • Profitable in every one of the 10 years on file.