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AMERICAN STATES WATER CO (AWR) Stock Fundamental Analysis

USA - NYSE:AWR - US0298991011 - Common Stock

76.42 USD
-0.63 (-0.82%)
Last: 10/21/2025, 8:04:00 PM
76.42 USD
0 (0%)
After Hours: 10/21/2025, 8:04:00 PM
Fundamental Rating

5

AWR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 15 industry peers in the Water Utilities industry. AWR scores excellent on profitability, but there are some minor concerns on its financial health. AWR is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

AWR had positive earnings in the past year.
AWR had a positive operating cash flow in the past year.
In the past 5 years AWR has always been profitable.
In the past 5 years AWR always reported a positive cash flow from operatings.
AWR Yearly Net Income VS EBIT VS OCF VS FCFAWR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M

1.2 Ratios

AWR's Return On Assets of 4.76% is fine compared to the rest of the industry. AWR outperforms 80.00% of its industry peers.
Looking at the Return On Equity, with a value of 12.78%, AWR belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
AWR has a Return On Invested Capital of 6.02%. This is amongst the best in the industry. AWR outperforms 93.33% of its industry peers.
AWR had an Average Return On Invested Capital over the past 3 years of 6.15%. This is in line with the industry average of 4.85%.
Industry RankSector Rank
ROA 4.76%
ROE 12.78%
ROIC 6.02%
ROA(3y)4.71%
ROA(5y)4.78%
ROE(3y)13.33%
ROE(5y)13.42%
ROIC(3y)6.15%
ROIC(5y)6.12%
AWR Yearly ROA, ROE, ROICAWR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

With a Profit Margin value of 20.19%, AWR perfoms like the industry average, outperforming 53.33% of the companies in the same industry.
In the last couple of years the Profit Margin of AWR has grown nicely.
Looking at the Operating Margin, with a value of 30.89%, AWR is in line with its industry, outperforming 60.00% of the companies in the same industry.
AWR's Operating Margin has improved in the last couple of years.
With a decent Gross Margin value of 81.58%, AWR is doing good in the industry, outperforming 80.00% of the companies in the same industry.
AWR's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 30.89%
PM (TTM) 20.19%
GM 81.58%
OM growth 3Y3.23%
OM growth 5Y2.98%
PM growth 3Y1.9%
PM growth 5Y2.4%
GM growth 3Y1.3%
GM growth 5Y0.64%
AWR Yearly Profit, Operating, Gross MarginsAWR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AWR is destroying value.
The number of shares outstanding for AWR has been increased compared to 1 year ago.
AWR has more shares outstanding than it did 5 years ago.
AWR has a better debt/assets ratio than last year.
AWR Yearly Shares OutstandingAWR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M
AWR Yearly Total Debt VS Total AssetsAWR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.2 Solvency

An Altman-Z score of 1.91 indicates that AWR is not a great score, but indicates only limited risk for bankruptcy at the moment.
AWR has a Altman-Z score of 1.91. This is in the better half of the industry: AWR outperforms 73.33% of its industry peers.
AWR has a Debt/Equity ratio of 0.97. This is a neutral value indicating AWR is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.97, AWR is in line with its industry, outperforming 46.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF N/A
Altman-Z 1.91
ROIC/WACC0.69
WACC8.71%
AWR Yearly LT Debt VS Equity VS FCFAWR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

2.3 Liquidity

A Current Ratio of 1.56 indicates that AWR should not have too much problems paying its short term obligations.
The Current ratio of AWR (1.56) is better than 73.33% of its industry peers.
A Quick Ratio of 1.46 indicates that AWR should not have too much problems paying its short term obligations.
AWR has a Quick ratio of 1.46. This is in the better half of the industry: AWR outperforms 73.33% of its industry peers.
Industry RankSector Rank
Current Ratio 1.56
Quick Ratio 1.46
AWR Yearly Current Assets VS Current LiabilitesAWR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

4

3. Growth

3.1 Past

AWR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.94%, which is quite good.
Measured over the past years, AWR shows a quite strong growth in Earnings Per Share. The EPS has been growing by 8.28% on average per year.
AWR shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.55%.
Measured over the past years, AWR shows a small growth in Revenue. The Revenue has been growing by 4.67% on average per year.
EPS 1Y (TTM)13.94%
EPS 3Y7.52%
EPS 5Y8.28%
EPS Q2Q%2.35%
Revenue 1Y (TTM)8.55%
Revenue growth 3Y6.07%
Revenue growth 5Y4.67%
Sales Q2Q%4.98%

3.2 Future

The Earnings Per Share is expected to grow by 5.90% on average over the next years.
The Revenue is expected to grow by 4.34% on average over the next years.
EPS Next Y4.5%
EPS Next 2Y5.35%
EPS Next 3Y6.02%
EPS Next 5Y5.9%
Revenue Next Year7.05%
Revenue Next 2Y5.51%
Revenue Next 3Y4.26%
Revenue Next 5Y4.34%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
AWR Yearly Revenue VS EstimatesAWR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 200M 400M 600M
AWR Yearly EPS VS EstimatesAWR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4

2

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 23.37, AWR is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of AWR is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 27.77, AWR is valued at the same level.
Based on the Price/Forward Earnings ratio of 21.72, the valuation of AWR can be described as rather expensive.
AWR's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.23, AWR is valued at the same level.
Industry RankSector Rank
PE 23.37
Fwd PE 21.72
AWR Price Earnings VS Forward Price EarningsAWR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as AWR.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 16.35
AWR Per share dataAWR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20 25

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
AWR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)5.19
PEG (5Y)2.82
EPS Next 2Y5.35%
EPS Next 3Y6.02%

5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.68%, AWR has a reasonable but not impressive dividend return.
AWR's Dividend Yield is comparable with the industry average which is at 3.17.
Compared to an average S&P500 Dividend Yield of 2.36, AWR has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.68%

5.2 History

The dividend of AWR is nicely growing with an annual growth rate of 8.98%!
AWR has paid a dividend for at least 10 years, which is a reliable track record.
AWR has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)8.98%
Div Incr Years34
Div Non Decr Years34
AWR Yearly Dividends per shareAWR Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

AWR pays out 56.92% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of AWR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP56.92%
EPS Next 2Y5.35%
EPS Next 3Y6.02%
AWR Yearly Income VS Free CF VS DividendAWR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M 100M -100M
AWR Dividend Payout.AWR Dividend Payout, showing the Payout Ratio.AWR Dividend Payout.PayoutRetained Earnings

AMERICAN STATES WATER CO

NYSE:AWR (10/21/2025, 8:04:00 PM)

After market: 76.42 0 (0%)

76.42

-0.63 (-0.82%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryWater Utilities
Earnings (Last)08-06 2025-08-06/amc
Earnings (Next)11-05 2025-11-05/amc
Inst Owners82.03%
Inst Owner Change0.47%
Ins Owners0.85%
Ins Owner Change0.89%
Market Cap2.94B
Revenue(TTM)615.96M
Net Income(TTM)124.33M
Analysts50
Price Target83.13 (8.78%)
Short Float %1.56%
Short Ratio2.42
Dividend
Industry RankSector Rank
Dividend Yield 2.68%
Yearly Dividend1.78
Dividend Growth(5Y)8.98%
DP56.92%
Div Incr Years34
Div Non Decr Years34
Ex-Date08-15 2025-08-15 (0.504)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.33%
Min EPS beat(2)-5.6%
Max EPS beat(2)2.93%
EPS beat(4)2
Avg EPS beat(4)2.11%
Min EPS beat(4)-5.6%
Max EPS beat(4)15.13%
EPS beat(8)4
Avg EPS beat(8)0.8%
EPS beat(12)6
Avg EPS beat(12)-1.71%
EPS beat(16)7
Avg EPS beat(16)-3.39%
Revenue beat(2)1
Avg Revenue beat(2)-2.45%
Min Revenue beat(2)-5.39%
Max Revenue beat(2)0.48%
Revenue beat(4)2
Avg Revenue beat(4)1.76%
Min Revenue beat(4)-5.39%
Max Revenue beat(4)12.45%
Revenue beat(8)4
Avg Revenue beat(8)2.96%
Revenue beat(12)6
Avg Revenue beat(12)5.61%
Revenue beat(16)7
Avg Revenue beat(16)2.6%
PT rev (1m)0%
PT rev (3m)-3.36%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.15%
EPS NY rev (1m)-0.3%
EPS NY rev (3m)-0.2%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.56%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.91%
Valuation
Industry RankSector Rank
PE 23.37
Fwd PE 21.72
P/S 4.78
P/FCF N/A
P/OCF 12.37
P/B 3.03
P/tB 3.03
EV/EBITDA 16.35
EPS(TTM)3.27
EY4.28%
EPS(NY)3.52
Fwd EY4.6%
FCF(TTM)-0.09
FCFYN/A
OCF(TTM)6.18
OCFY8.08%
SpS15.99
BVpS25.25
TBVpS25.25
PEG (NY)5.19
PEG (5Y)2.82
Graham Number43.11
Profitability
Industry RankSector Rank
ROA 4.76%
ROE 12.78%
ROCE 7.77%
ROIC 6.02%
ROICexc 6.07%
ROICexgc 6.07%
OM 30.89%
PM (TTM) 20.19%
GM 81.58%
FCFM N/A
ROA(3y)4.71%
ROA(5y)4.78%
ROE(3y)13.33%
ROE(5y)13.42%
ROIC(3y)6.15%
ROIC(5y)6.12%
ROICexc(3y)6.21%
ROICexc(5y)6.19%
ROICexgc(3y)6.21%
ROICexgc(5y)6.19%
ROCE(3y)8.5%
ROCE(5y)8.27%
ROICexgc growth 3Y0.1%
ROICexgc growth 5Y-0.78%
ROICexc growth 3Y0.12%
ROICexc growth 5Y-0.77%
OM growth 3Y3.23%
OM growth 5Y2.98%
PM growth 3Y1.9%
PM growth 5Y2.4%
GM growth 3Y1.3%
GM growth 5Y0.64%
F-Score5
Asset Turnover0.24
Health
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF N/A
Debt/EBITDA 3.99
Cap/Depr 522.01%
Cap/Sales 39.15%
Interest Coverage 250
Cash Conversion 100.59%
Profit Quality N/A
Current Ratio 1.56
Quick Ratio 1.46
Altman-Z 1.91
F-Score5
WACC8.71%
ROIC/WACC0.69
Cap/Depr(3y)452.98%
Cap/Depr(5y)414.15%
Cap/Sales(3y)34.81%
Cap/Sales(5y)32.02%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)13.94%
EPS 3Y7.52%
EPS 5Y8.28%
EPS Q2Q%2.35%
EPS Next Y4.5%
EPS Next 2Y5.35%
EPS Next 3Y6.02%
EPS Next 5Y5.9%
Revenue 1Y (TTM)8.55%
Revenue growth 3Y6.07%
Revenue growth 5Y4.67%
Sales Q2Q%4.98%
Revenue Next Year7.05%
Revenue Next 2Y5.51%
Revenue Next 3Y4.26%
Revenue Next 5Y4.34%
EBIT growth 1Y7.31%
EBIT growth 3Y9.5%
EBIT growth 5Y7.79%
EBIT Next Year33.31%
EBIT Next 3Y15.73%
EBIT Next 5Y12.48%
FCF growth 1Y96.69%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y202.23%
OCF growth 3Y19.79%
OCF growth 5Y11.2%