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AMERICAN STATES WATER CO (AWR) Stock Fundamental Analysis

USA - NYSE:AWR - US0298991011 - Common Stock

75.47 USD
+0.2 (+0.27%)
Last: 10/17/2025, 8:04:00 PM
75.47 USD
0 (0%)
After Hours: 10/17/2025, 8:04:00 PM
Fundamental Rating

5

Taking everything into account, AWR scores 5 out of 10 in our fundamental rating. AWR was compared to 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

In the past year AWR was profitable.
AWR had a positive operating cash flow in the past year.
In the past 5 years AWR has always been profitable.
Each year in the past 5 years AWR had a positive operating cash flow.
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

The Return On Assets of AWR (4.76%) is better than 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 better Return On Invested Capital (6.02%) than 93.33% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for AWR 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

AWR has a Profit Margin (20.19%) which is comparable to the rest of the industry.
AWR's Profit Margin has improved in the last couple of years.
The Operating Margin of AWR (30.89%) is comparable to the rest of the 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.
In the last couple of years the Gross Margin of AWR has remained more or less at the same level.
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

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AWR is destroying value.
Compared to 1 year ago, AWR has more shares outstanding
The number of shares outstanding for AWR has been increased compared to 5 years ago.
Compared to 1 year ago, AWR has an improved debt to assets ratio.
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

AWR has an Altman-Z score of 1.90. This is not the best score and indicates that AWR is in the grey zone with still only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 1.90, AWR is doing good in the industry, outperforming 73.33% of the companies in the same industry.
AWR has a Debt/Equity ratio of 0.97. This is a neutral value indicating AWR is somewhat dependend on debt financing.
The Debt to Equity ratio of AWR (0.97) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.97
Debt/FCF N/A
Altman-Z 1.9
ROIC/WACC0.75
WACC7.97%
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

AWR has a Current Ratio of 1.56. This is a normal value and indicates that AWR is financially healthy and should not expect problems in meeting 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.
Looking at the Quick ratio, with a value of 1.46, AWR is in the better half of the industry, outperforming 73.33% of the companies in the same industry.
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.
The Earnings Per Share has been growing by 8.28% on average over the past years. This is quite good.
AWR shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.55%.
The Revenue has been growing slightly by 4.67% on average over the past years.
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 23.08, AWR is valued on the expensive side.
AWR's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 27.40, AWR is valued at the same level.
Based on the Price/Forward Earnings ratio of 21.45, the valuation of AWR can be described as rather expensive.
AWR's Price/Forward Earnings ratio is in line with the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.94. AWR is around the same levels.
Industry RankSector Rank
PE 23.08
Fwd PE 21.45
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

AWR's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 16.19
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 AWR does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of AWR may justify a higher PE ratio.
PEG (NY)5.12
PEG (5Y)2.79
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.
Compared to an average industry Dividend Yield of 3.28, AWR has a dividend in line with its industry peers.
AWR's Dividend Yield is comparable with the S&P500 average which is at 2.36.
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.
AWR's earnings are growing slower than its dividend. 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 (10/17/2025, 8:04:00 PM)

After market: 75.47 0 (0%)

75.47

+0.2 (+0.27%)

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 Change0.37%
Ins Owners0.85%
Ins Owner Change0.89%
Market Cap2.91B
Analysts50
Price Target83.13 (10.15%)
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 23.08
Fwd PE 21.45
P/S 4.72
P/FCF N/A
P/OCF 12.22
P/B 2.99
P/tB 2.99
EV/EBITDA 16.19
EPS(TTM)3.27
EY4.33%
EPS(NY)3.52
Fwd EY4.66%
FCF(TTM)-0.09
FCFYN/A
OCF(TTM)6.18
OCFY8.18%
SpS15.99
BVpS25.25
TBVpS25.25
PEG (NY)5.12
PEG (5Y)2.79
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%
ROICexcg growth 3Y0.1%
ROICexcg 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 1.9
F-Score5
WACC7.97%
ROIC/WACC0.75
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%