American States Water (AWR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

American States Water

NYSE•Utilities•Utilities - Regulated Water

$87.17+0.72(0.01%)Pre-market

Market Cap

$3.41B

P/E

23.8x

P/S

4.9x

P/B

3.0x

American States Water Company, through its subsidiaries, engages in the provision of water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity. It provides water service to approximately 265,100 customers; and distributes electricity to approximately 24,900 customers in several San Bernardino County Mountain communities in California. The company also offers water and/or wastewater services at various military installations. American States Water Company was founded in 1929 and is headquartered in San Dimas, California.

How this company scores

GoodMetricSide Score: 71/100

Strongest: Profitability (23/25); weakest: Cash & Earnings Quality (13/25).

Profitability23/25

Growth19/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality13/25

Strengths

Strong marginsProfit converts from growthImproving leverageConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 23.8x5y range 21.3x – 39.5x

Currently near its 20-quarter median.

P/S · 4.9x5y range 4.3x – 6.4x

Currently near its 20-quarter median.

P/B · 3.0x5y range 2.7x – 4.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Watch

4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.

Price & Volume

Market Cap $3.41B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $697.48M
Q. Revenue: $181.29M
TTM EBITDA: $272.06M
TTM Op. Income: $222.11M
Q. Op. Income: $63.97M
TTM Net Income: $143.13M
Q. Net Income: $43.27M
EPS: $1.1
Shares Out.: $39.34M

$697.48M in TTM revenue grew 13.2% YoY, reaching $181.29M last quarter. TTM EBITDA of $272.06M and TTM operating income of $222.11M show growth is flowing through to the bottom line. TTM net income of $143.13M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 90.8%
EBITDA Margin: 42.3%
Op. Margin: 35.3%
Net Margin: 23.9%

Op. margin of 35.3% is up 4.0% YoY — cost efficiency is improving. Net margin at 23.9% and gross margin of 90.8% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 23.8x
P/S Ratio: 4.9x
P/B Ratio: 3.0x

At 23.8x P/E, the stock trades within typical market levels. P/S of 4.9x and P/B of 3.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.77B
Cash: $21.66M
Long-Term Debt: $717.74M
Book Value: $1.12B
D/E Ratio: 0.6
Debt/EBITDA: 9.4

With $2.77B in assets and $717.74M in long-term debt, D/E is 0.6and book value is $1.12B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 4 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $44.91M
TTM Free Cash Flow: $20.75M
FCF Margin: 3.0%
FCF / Net Income: 0.1

TTM FCF of $20.75M on $44.91M in operating cash flow. The FCF / Net Income ratio of 0.1x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 731% — a weakening trend.