American Water Works Company, Inc.

AWK · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$25,471	$24,262	$25,699	$27,714	$34,285	$27,861	$22,302	$16,478	$16,609	$13,136	$10,847	$9,535	$7,522	$6,551	$5,591	$4,422	$3,769	$3,340	–	–	–	$2,049	$2,019	$1,989	$1,962	$1,627	$1,536	$1,375	$1,315	$1,279	$1,272	$1,263	$1,263	$1,257	$1,256	$1,247	$1,243	$1,228
Enterprise value	$41,236	$38,205	$37,811	$40,081	$45,231	$38,335	$31,784	$24,952	$24,271	$20,243	$17,358	$15,471	$13,370	$12,124	$11,486	$10,121	$9,232	$8,609	–	–	–	$5,573	$5,238	$4,992	$4,170	$3,645	$3,444	$2,929	$2,748	$2,612	$2,413	$2,315	$2,290	$2,159	$2,029	$1,947	$1,867	$1,826
P/E (TTM) at period end	22.93×	23.09×	27.22×	33.80×	27.15×	39.30×	35.91×	29.06×	38.99×	28.07×	22.79×	22.54×	20.38×	18.30×	18.07×	16.51×	–	–	–	–	–	12.69×	12.53×	14.31×	14.98×	13.66×	15.11×	14.93×	16.71×	16.96×	18.65×	17.16×	22.12×	26.03×	22.08×	22.27×	22.27×	26.18×
P/S (TTM) at period end	4.96×	5.18×	6.07×	7.31×	8.72×	7.38×	6.18×	4.79×	4.95×	3.98×	3.43×	3.17×	2.61×	2.30×	2.10×	1.73×	1.65×	1.43×	–	–	–	1.42×	1.49×	1.58×	1.93×	1.70×	1.72×	1.71×	1.71×	1.78×	1.93×	2.00×	2.21×	2.38×	2.45×	2.58×	2.66×	2.86×
P/B at period end	2.35×	2.35×	2.62×	3.60×	4.70×	4.32×	3.64×	2.81×	3.08×	2.52×	2.15×	1.94×	1.59×	1.47×	1.32×	1.07×	0.94×	0.81×	–	–	–	1.13×	1.17×	1.15×	1.47×	1.31×	1.33×	1.50×	1.57×	1.78×	1.77×	1.87×	2.22×	2.34×	2.72×	2.92×	3.19×	3.37×
EV / EBITDA (TTM)	14.87×	15.25×	17.12×	20.85×	24.69×	20.70×	17.70×	15.15×	13.91×	13.02×	11.46×	10.84×	9.87×	9.29×	9.95×	9.56×	18.70×	68.39×	–	–	–	–	–	19.66×	–	–	17.93×	–	–	–	16.78×	15.21×	17.63×	18.69×	–	–	–	–
EV / Sales (TTM)	8.02×	8.16×	8.93×	10.57×	11.51×	10.15×	8.80×	7.25×	7.23×	6.13×	5.49×	5.14×	4.64×	4.25×	4.31×	3.96×	4.03×	3.68×	–	–	–	3.87×	3.88×	3.96×	4.10×	3.82×	3.85×	3.65×	3.57×	3.64×	3.67×	3.66×	4.01×	4.09×	3.96×	4.03×	4.00×	4.25×
Returns
Return on equity	10.3%	10.2%	9.6%	10.7%	17.3%	11.0%	10.1%	9.7%	7.9%	9.0%	9.4%	8.6%	7.8%	8.1%	7.3%	6.5%	(5.8%)	(13.6%)	(7.5%)	(2.9%)	–	8.9%	9.4%	8.0%	9.8%	9.6%	8.8%	10.0%	9.4%	10.5%	9.5%	10.9%	10.0%	9.0%	12.3%	13.1%	14.3%	12.9%
Return on invested capital	5.5%	5.5%	5.4%	5.2%	5.0%	5.7%	5.8%	5.5%	4.5%	5.4%	5.7%	5.6%	5.5%	5.5%	4.8%	4.4%	1.9%	(2.0%)	0.0%	2.6%	–	(2.3%)	(1.7%)	5.3%	(2.1%)	(2.4%)	5.9%	(3.8%)	(4.1%)	(4.1%)	7.0%	7.8%	7.3%	7.0%	8.4%	8.2%	8.6%	8.3%
Dividend yield	2.5%	2.4%	2.1%	1.7%	1.2%	1.4%	1.6%	1.9%	1.7%	2.0%	2.2%	2.3%	2.0%	3.3%	2.8%	3.4%	3.6%	1.9%	–	–	–	4.6%	4.5%	4.2%	3.6%	3.9%	3.6%	3.4%	2.9%	2.6%	2.3%	2.2%	1.9%	1.9%	–	–	–	–
Financial health
Current ratio	0.46×	0.39×	0.65×	0.44×	0.73×	0.66×	0.63×	0.37×	0.31×	0.33×	0.43×	0.46×	0.46×	0.50×	0.94×	1.32×	0.82×	0.38×	0.56×	0.30×	–	0.40×	0.36×	0.57×	0.70×	0.56×	0.50×	0.51×	0.62×	0.63×	0.46×	0.62×	0.38×	0.51×	0.61×	0.63×	0.79×	1.15×
Debt / equity	1.33×	1.30×	1.21×	1.57×	1.50×	1.64×	1.54×	1.46×	1.37×	1.26×	1.29×	1.20×	1.11×	1.19×	1.27×	1.32×	1.33×	1.28×	1.09×	0.73×	–	1.73×	1.65×	1.76×	1.85×	1.64×	1.66×	1.72×	1.75×	1.92×	1.63×	1.57×	1.83×	1.70×	1.71×	1.69×	1.68×	1.73×
Effective tax rate	21.9%	22.7%	21.1%	18.7%	23.0%	23.3%	25.5%	28.2%	53.3%	39.2%	39.1%	39.4%	39.0%	40.7%	39.5%	40.6%	(107.1%)	(24.8%)	(34.0%)	(43.1%)	–	40.6%	39.5%	39.7%	38.9%	38.5%	38.5%	38.5%	38.8%	38.8%	35.6%	34.2%	34.1%	35.4%	35.3%	42.3%	45.9%	44.2%
Share count
Diluted shares outstanding	195	195	193	182	182	182	181	180	179	179	180	180	179	178	177	175	168	160	160	160	189	99	98	97	95	79	75	67	64	62	62	61	61	61	61	61	61	60

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$5,284	$5,140	$4,684	$4,234	$3,792	$3,930	$3,777	$3,610	$3,440	$3,357	$3,302	$3,159	$3,011	$2,879	$2,854	$2,666	$2,555	$2,290	$2,337	$2,214	$2,093	$2,137	$1,439	$1,351	$1,261	$1,018	$954	$895	$803	$770	$718	$657	$633	$571	$528	$512	$483	$466	$430
Cost of revenue	–	($2,913)	($1,858)	($1,720)	($1,589)	($1,777)	($1,622)	($1,544)	($1,479)	($1,378)	($1,504)	($1,404)	($1,350)	($1,313)	($1,350)	($1,302)	($1,389)	($1,324)	($1,304)	–	–	–	($665)	($593)	($553)	($437)	($422)	($418)	($397)	($385)	($356)	($333)	($318)	($295)	($286)	($272)	($246)	($233)	($213)
Gross profit	–	$2,227	$2,826	$2,514	$2,203	$2,153	$2,155	$2,066	$1,961	$1,979	$1,798	$1,755	$1,661	$1,589	$1,527	$1,364	$1,321	$1,116	$1,033	–	–	–	$774	$758	$708	$581	$533	$476	$406	$385	$362	$324	$315	$276	$242	$240	$237	$234	$217
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	($5)	($3)	($3)	($3)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	–	–	($28)	($32)	($77)	($78)	($49)	($16)	($20)	($9)	($5)	($14)	($15)	($16)	($17)	–	–	–	–	–	$6	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($5)
Total operating expenses	($874)	($348)	($1,108)	($1,010)	($930)	($957)	($907)	($852)	($859)	($726)	($713)	($680)	($658)	($641)	($603)	($561)	($593)	($933)	($1,220)	–	–	–	($982)	($894)	($288)	($701)	($660)	($182)	($560)	($539)	($499)	($122)	($110)	($99)	($87)	($80)	($77)	($73)	($74)
Total costs and expenses	($3,332)	($3,261)	($2,966)	($2,730)	($2,519)	($2,734)	($2,529)	($2,396)	($2,338)	($2,104)	($2,217)	($2,084)	($2,008)	($1,931)	($1,930)	($1,863)	($1,827)	($2,107)	($2,524)	($2,211)	($1,840)	–	($1,647)	($1,487)	($841)	($1,138)	($1,082)	($601)	($957)	($924)	($855)	($455)	($429)	($394)	($372)	($352)	($324)	($306)	($287)
Operating income	$1,952	$1,879	$1,718	$1,504	$1,273	$1,196	$1,248	$1,214	$1,102	$1,253	$1,085	$1,075	$1,003	$948	$924	$803	$728	$184	($187)	$3	$254	$2,137	($208)	($136)	$420	($120)	($128)	$294	($154)	($154)	($137)	$202	$204	$177	$155	$160	$160	$161	$143
Earnings
EBITDA	$2,886	$2,773	$2,506	$2,208	$1,922	$1,832	$1,852	$1,796	$1,647	$1,745	$1,555	$1,515	$1,427	$1,355	$1,306	$1,155	$1,058	$494	$126	$270	$511	–	($409)	($313)	$254	($250)	($240)	$192	($241)	($234)	($212)	$144	$152	$130	$116	–	–	–	–
Interest income	$61	$90	$94	$73	$52	$4	$2	$4	$11	$14	$14	$13	$11	$12	$13	$11	$10	$10	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($650)	($615)	($523)	($460)	($433)	($403)	($397)	($386)	($350)	($342)	($325)	($308)	($298)	($308)	($311)	($312)	($314)	($297)	($285)	($280)	($363)	($347)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,440	$1,422	$1,359	$1,196	$1,008	$1,640	$924	$833	$787	$912	$770	$782	$710	$608	$630	$504	$429	($106)	($451)	($256)	($109)	–	$272	$266	$230	$214	$194	$166	$150	$129	$123	$106	$112	$87	$75	$88	$97	$103	$84
Income tax expense	($312)	($311)	($308)	($252)	($188)	($377)	($215)	($212)	($222)	($486)	($302)	($306)	($280)	($237)	($257)	($199)	($174)	($114)	($112)	($87)	($47)	($325)	($110)	($105)	($91)	($83)	($75)	($64)	($58)	($50)	($48)	($38)	($38)	($30)	($26)	($31)	($41)	($47)	($37)
Net income	$1,128	$1,111	$1,051	$944	$820	$1,263	$709	$621	$567	$426	$468	$476	$423	$369	$358	$310	$268	($233)	($562)	($343)	($162)	($325)	$161	$161	$139	$131	$119	$102	$92	$79	$75	$68	$74	$57	$48	$57	$56	$56	$47
Per share
Diluted EPS (GAAP)	$5.77	$5.69	$5.39	$4.90	$4.51	$6.95	$3.91	$3.43	$3.15	$2.38	$2.62	$2.64	$2.35	$2.06	$2.01	$1.75	$1.53	($1.39)	($3.52)	($2.14)	($1.01)	($1.72)	$1.61	$1.61	$1.40	$1.54	$1.51	$1.31	$1.32	$1.17	$1.15	$1.04	$1.14	$0.92	$0.78	$0.92	$0.91	$0.90	$0.76
Basic EPS (GAAP)	$5.77	$5.69	$5.39	$4.90	$4.51	$6.96	$3.91	$3.44	$3.16	$2.39	$2.63	$2.66	$2.36	$2.08	$2.03	$1.76	$1.53	($1.39)	($3.52)	($2.14)	($1.01)	($2.03)	$1.62	$1.61	$1.40	$1.54	$1.51	$1.31	$1.32	$1.17	$1.15	$1.04	$1.14	$0.92	$0.78	$0.92	$0.91	$0.91	$0.77
Basic shares outstanding	195	195	195	193	182	182	181	181	180	178	178	179	179	178	176	175	175	168	160	160	160	160	99	98	97	95	79	75	67	64	62	62	61	61	61	61	61	60	60
Margins
Gross margin	–	43.3%	60.3%	59.4%	58.1%	54.8%	57.1%	57.2%	57.0%	59.0%	54.5%	55.6%	55.2%	55.2%	53.5%	51.2%	51.7%	48.7%	44.2%	–	–	–	53.8%	56.1%	56.1%	57.1%	55.8%	53.3%	50.6%	50.0%	50.4%	49.3%	49.7%	48.4%	45.9%	46.9%	49.0%	50.1%	50.4%
Operating margin	36.9%	36.6%	36.7%	35.5%	33.6%	30.4%	33.0%	33.6%	32.0%	37.3%	32.9%	34.0%	33.3%	32.9%	32.4%	30.1%	28.5%	8.0%	(8.0%)	0.1%	12.1%	100.0%	(14.4%)	(10.1%)	33.3%	(11.8%)	(13.4%)	32.9%	(19.2%)	(19.9%)	(19.1%)	30.8%	32.3%	31.0%	29.4%	31.3%	33.1%	34.4%	33.3%
Net margin	21.3%	21.6%	22.4%	22.3%	21.6%	32.1%	18.8%	17.2%	16.5%	12.7%	14.2%	15.1%	14.0%	12.8%	12.5%	11.6%	10.5%	(10.2%)	(24.1%)	(15.5%)	(7.8%)	(15.2%)	11.2%	11.9%	11.0%	12.9%	12.5%	11.4%	11.5%	10.2%	10.5%	10.4%	11.6%	10.0%	9.2%	11.1%	11.6%	12.0%	10.9%

Analyst consensus

Buy30 analysts

Bearish · 2 · Hold · 14 · Bullish · 14

Earnings history

	EPS	Estimate
Q3 2024	$1.77	$1.84	Miss
Q4 2024	$1.22	$1.13	Beat
Q1 2025	$1.05	$1.06	Miss
Q2 2025	$1.48	$1.52	Miss
Q3 2025	$1.94	$1.88	Beat
Q4 2025	$1.24	$1.26	Miss
Q1 2026	$1.01	$1.09	Miss
Q2 2026	$1.61	$1.53	Beat

Peers

Company overview

IPO dateApr 23, 2008

CEOJohn C. Griffith

Employees7,000

SectorUtilities

IndustryRegulated Water

CountryUS

ExchangeNew York Stock Exchange

Websitewww.amwater.com

American Water Works Company, Inc. operates across the United States, delivering essential water and wastewater solutions via its various subsidiary companies. Its operations extend to around 1,700 communities situated across 14 states, catering to an active customer base of roughly 3.4 million. The firm caters to a broad spectrum of clients. These include individual households, commercial enterprises (such as food and beverage suppliers, property developers, and energy companies), and both public and private fire service customers. Industrial clients, like large-scale manufacturers, mining, and production facilities, also utilize its services. Furthermore, American Water Works supports public authorities, encompassing government facilities, schools, and universities, alongside other utility providers and community water and wastewater infrastructure. Beyond these, the company extends its water and wastewater provisions to numerous military installations. It also enters into agreements with municipal bodies, predominantly for the management and operation of their water and wastewater facilities, in addition to offering a range of supplementary services. The company's infrastructure is substantial, comprising approximately 80 surface water treatment plants, 480 groundwater treatment plants, and 160 wastewater treatment plants. Its vast network also includes 52,500 miles of mains for transmission, distribution, and collection, alongside 1,100 groundwater wells, 1,700 pumping stations for water and wastewater, 1,300 treated water storage facilities, and 76 dams. Overall, the company delivers drinking water, wastewater management, and ancillary services to roughly 14 million individuals across 24 states. Established in 1886, American Water Works Company, Inc. maintains its headquarters in Camden, New Jersey.

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