American Water Works vs California Water Service
American Water Works is the larger business, with $5.14bn of revenue in fiscal 2025 against $964m for California Water Service (5.3 times as much). American Water Works grew faster (9.7% against 6.4%). American Water Works kept more of each dollar of sales as profit: a net margin of 21.6% against 13.3%. California Water Service carries less debt relative to equity (94.8% against 146.2%).
| Latest fiscal year | American Water WorksAWK, 2025 | California Water ServiceCWT, 2025 |
|---|---|---|
| Revenue | $5.14bn | $964m |
| Revenue growth | 9.7% | 6.4% |
| Net income | $1.11bn | $128m |
| Operating margin | 36.6% | 17.7% |
| Net margin | 21.6% | 13.3% |
| Return on equity | 10.5% | 7.7% |
| Free cash flow | −$1.07bn | — |
| Cash | $98.0m | $51.8m |
| Total debt | $15.84bn | $1.60bn |
| Debt to equity | 146.2% | 94.8% |
| Dividend per share | $3.31 | $1.24 |
| Dividend yield | 2.3% | 2.5% |
| Share buybacks | — | $1.4m |
| Employees | 7,000 | 1,336 |
| Market value | $29.34bn | $3.11bn |
| Price vs our value range | — | Within our value range |
| Moat score | 47 (Moderate) | 51 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 1 buys, 7 sales |