American Water Works, with a history dating back to 1886, is a water and wastewater utility operating across the United States. Through regulated subsidiaries it supplies drinking water, wastewater and related services to roughly 14 million people in 24 states, and employs about 7,000 people. It describes itself as the biggest and most geographically varied investor-owned water and wastewater supplier in the country, measured by operating revenues and population served.
Most activity sits in one reportable segment, the Regulated Businesses, which serves 3.6 million active customers—residential, commercial, industrial, fire service, public authorities and other utilities buying in bulk. Revenue comes mainly from metered water charges and wastewater fees billed under rates approved by state public utility commissions. A separate "Other" grouping includes the Military Services Group, which runs water and wastewater systems on 18 military installations under 50-year contracts with the US government, plus a municipal operating contract.
A holding company incorporated in Delaware in 1936, it is headquartered in Camden, New Jersey; its largest states by revenue are Pennsylvania, New Jersey, Missouri, Illinois and California.
Based on American Water Works's 10-K filed February 18, 2026.
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~$120
Valuation models combined (5)
Base case. Range ~$100–$130. Weighted average of 5 models (utility earnings model, forward price-to-earnings vs peers, justified price-to-book, residual income, dividend discount (two-stage)), the utility earnings model counting double.
Overvalued
The price is above our entire value range; our base value is 21% below it.
Price used: $147.43, November 2, 2026
American Water Works valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to September 2026 was $5.34bn, up 5.4% on a year earlier, slower than the 6.9% growth a quarter earlier. Free-cash-flow margin fell to -21.7% from -18.5% a year earlier. Its fundamentals grade moves from C+ to C. Our model value is little changed at $116 a share, against a share price of $146. The rating stays Sell.
Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation
American Water Works generated revenue of $5.34bn in the twelve months to June 2026, up 5.4% on the year before. That marks a slowdown from the 6.9% growth recorded a quarter earlier. Free-cash-flow margin, meanwhile, deteriorated to -21.7%, down from -18.5% a year earlier. Our model value sits at $116 a share, little changed, compared with a share price of $141. The rating stays Sell.
Revenue for the twelve months to June 2026 was $5.28bn, up 6.9% on a year earlier, slower than 8.1% a quarter earlier. Free-cash-flow margin fell to -19.5% from -18.4% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 0 of our 2 financial-health checks. Our valuation models combined value is $117 a share, against a share price of $135.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
American Water Works's trailing-twelve-month revenue grew 5.4% year on year, with a free-cash-flow margin of -21.7%. Where it stands out: operating margin of 37.0% ranks 2 of 11 water utilities companies we cover. Where it lags: free-cash-flow margin of -21.7% ranks 10 of 12 water utilities companies we cover.
Current signal Free cash flow diverging from earnings: TTM free cash flow fell 23.5% while net income grew 2.2%: a 26pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
American Water narrowed its 2026 adjusted earnings guidance toward the top of its range on 28 October, even as the quarter's free cash flow shortfall widened and revenue growth slowed to its weakest pace in two years.
The company also guided to 2027 standalone adjusted earnings per share guidance range of $6.53 to $6.63 for the 2027; long-term eps growth of 7.00 to 9.00 for the long-term.
We value American Water Works as an utility or power producer, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.4 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. | ~$120 ~$98–$150 | Primary model, counts double |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$100 ~$100–$130 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$130 ~$100–$170 | Included |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$100 ~$73–$150 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | ~$130 ~$100–$180 | Included |
| Combined value Weighted average of the models that apply: the primary model (utility earnings model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$120 ~$100–$130 | 5 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare American Water Works with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Now |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share price | $48.27 | $59.65 | $76.95 | $77.97 | $107.44 | $136.31 | $170.16 | $139.71 | $123.40 | $119.04 | $127.85 | $147.43 |
| Market value | $8.7bn | $10.7bn | $13.8bn | $14.0bn | $19.4bn | $24.8bn | $31.0bn | $25.4bn | $23.8bn | $23.2bn | $24.9bn | $28.9bn |
| + Net debt (− = net cash) | $6.5bn | $7.1bn | $7.7bn | $8.5bn | $9.4bn | $10.4bn | $10.9bn | $12.3bn | $12.0bn | $13.9bn | $15.7bn | $16.2bn |
| Enterprise value | $15.2bn | $17.8bn | $21.4bn | $22.5bn | $28.8bn | $35.2bn | $41.8bn | $37.7bn | $35.9bn | $37.2bn | $40.7bn | $45.1bn |
| Multiples | ||||||||||||
| Price / sales | 2.8x | 3.2x | 4.1x | 4.1x | 5.4x | 6.6x | 7.9x | 6.7x | 5.6x | 5.0x | 4.9x | 5.4x |
| Price / earnings | 18.3x | 22.8x | 32.3x | 24.8x | 31.3x | 35.0x | 24.5x | 31.0x | 25.2x | 22.1x | 22.4x | 25.5x |
| Price / free cash flow | n/m | — | n/m | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | 10.0x | 11.4x | 12.3x | 13.7x | 16.1x | 19.0x | 22.8x | 19.6x | 16.2x | 14.8x | 14.7x | 15.4x |
Moderate moat
How hard American Water Works's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median 3.0% of total assets over 10 years.
Operating margin has been a median 34.5%; its worst year was 31.8%.
Free cash flow was positive in 1 of 10 years, at a median -14.8% of revenue.
The diluted share count rose 7.5% over five years; stock-based pay has been a median 0.4% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $6.09 | +8% | $5.4bn | +6% |
| Next | $6.57 | +8% | $5.8bn | +7% |
Next year's EPS estimate has moved +0.1% in 90 days, across 7 analysts.
The consensus EPS forecast for the current fiscal year is +0.0% on 90 days ago. In the last 30 days, 1 analyst raised American Water Works's forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $6.08 | $6.57 |
| 60 days ago | $6.08 | $6.57 |
| 30 days ago | $6.08 | $6.57 |
| 7 days ago | $6.08 | $6.57 |
| Now | $6.09 | $6.57 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $2.04 | $2.00 | −1.8% |
| Jun 2026 | $1.55 | $1.61 | +4.0% |
| Mar 2026 | $1.09 | $1.01 | −7.4% |
| Dec 2025 | $1.27 | $1.24 | −2.3% |
Adjusted EPS as companies report it, against the average analyst estimate.
Last 12 months +17.9%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $4.9bn | $5.3bn | +6.9% |
| Net margin | 21.9% | 21.3% | −2.6% |
| P/E multiple | 22.5x | 25.5x | +13.4% |
| Share count | 195m | 195m | −0.1% |
Biggest factor: p/e multiple.
Last 3 years +22.0%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $4.0bn | $5.3bn | +30.5% |
| Net margin | 22.1% | 21.3% | −3.3% |
| P/E multiple | 25.2x | 25.5x | +1.3% |
| Share count | 186m | 195m | −4.6% |
Biggest factor: revenue.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| AWK | +25% | −18% | −12% | −4% | +7% | +15% |
| Industry peers (median) | +21% | −9% | −12% | −11% | +0% | +11% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| AWK | 58% | 42% | 50% | 50% | 58% | 64% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| AWK | −20% | −32% | −27% | −17% | −16% | −13% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 37% from December 31, 2021 to April 16, 2024. Getting back needed a 59% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 28, 2026 | +0.8% | 0.0% | — | — |
| July 29, 2026 | −0.9% | +0.1% | −2.8% | −0.3% |
| April 29, 2026 | −3.2% | +1.0% | −5.3% | −6.4% |
| February 18, 2026 | −1.6% | +0.2% | +0.5% | +2.7% |
| October 29, 2025 | −6.0% | −1.1% | −2.8% | −2.9% |
| July 30, 2025 | −0.5% | −0.5% | +0.7% | +2.0% |
| April 30, 2025 | +0.4% | +0.7% | +1.5% | −1.4% |
| February 19, 2025 | +1.2% | −0.2% | +6.2% | +11.5% |
| October 30, 2024 | +1.7% | −2.3% | −1.6% | +1.4% |
| July 31, 2024 | +0.6% | +0.2% | +0.1% | −0.8% |
| May 1, 2024 | +3.0% | +0.6% | +8.6% | +7.5% |
| February 14, 2024 | +3.7% | +1.6% | −0.1% | −2.2% |
How American Water Works’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.
Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.
Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.
Not offered: rated Sell.
We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.
Own 100 shares, sell the $155 call expiring December 18, 2026 (46 days) for $1.55 a share — $155 per contract.
Previous session · Bid $1.55, ask $1.90, quoted Mon 2 Nov, 17:15 New York time with AWK at $147.08. Option prices move with the shares: check the live chain at your broker before trading.
Not offered: no liquid put and call pair for the same expiry.
For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.
General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q4 | $4.2B |
| FY24 Q1 | $4.3B |
| FY24 Q2 | $4.4B |
| FY24 Q3 | $4.5B |
| FY24 Q4 | $4.7B |
| FY25 Q1 | $4.8B |
| FY25 Q2 | $4.9B |
| FY25 Q3 | $5.1B |
| FY25 Q4 | $5.1B |
| FY26 Q1 | $5.2B |
| FY26 Q2 | $5.3B |
| FY26 Q3 | $5.3B |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q4 | 11.7% |
| FY24 Q1 | 10.8% |
| FY24 Q2 | 7.7% |
| FY24 Q3 | 9.2% |
| FY24 Q4 | 10.6% |
| FY25 Q1 | 11.8% |
| FY25 Q2 | 13.4% |
| FY25 Q3 | 12.3% |
| FY25 Q4 | 9.7% |
| FY26 Q1 | 8.1% |
| FY26 Q2 | 6.9% |
| FY26 Q3 | 5.4% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q4 | 35.5% |
| FY24 Q1 | 35.6% |
| FY24 Q2 | 35.6% |
| FY24 Q3 | 35.8% |
| FY24 Q4 | 36.7% |
| FY25 Q1 | 36.6% |
| FY25 Q2 | 36.5% |
| FY25 Q3 | 37.0% |
| FY25 Q4 | 36.6% |
| FY26 Q1 | 36.5% |
| FY26 Q2 | 36.9% |
| FY26 Q3 | 37.0% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q4 | -16.6% |
| FY24 Q1 | -16.0% |
| FY24 Q2 | -18.7% |
| FY24 Q3 | -18.3% |
| FY24 Q4 | -17.3% |
| FY25 Q1 | -16.6% |
| FY25 Q2 | -18.4% |
| FY25 Q3 | -18.5% |
| FY25 Q4 | -20.8% |
| FY26 Q1 | -23.1% |
| FY26 Q2 | -19.5% |
| FY26 Q3 | -21.7% |
Each dollar American Water Works took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.
| Revenue | $5.1B | |
|---|---|---|
| Other operating costs | $3.3B | 63.4% of revenue |
| Operating income | $1.9B | 36.6% of revenue |
| Income tax | $311M | 6.1% of revenue |
| Interest and other | $457M | 8.9% of revenue |
| Net income | $1.1B | 21.6% of revenue |
| Fiscal year | 2009 Dec 2009 | 2010 Dec 2010 | 2011 Dec 2011 | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||||||||||
| Revenue | 2.3 | 2.6 | 2.7 | 2.9 | 2.9 | 3.0 | 3.2 | 3.3 | 3.4 | 3.4 | 3.6 | 3.8 | 3.9 | 3.8 | 4.2 | 4.7 | 5.1 | 5.3 |
| EBITDA | 0.5 | 1.1 | 1.2 | 1.3 | 1.4 | 1.4 | 1.5 | 1.6 | 1.7 | 1.6 | 1.8 | 1.9 | 1.8 | 1.9 | 2.2 | 2.5 | 2.8 | 2.9 |
| Operating income | 0.2 | 0.7 | 0.8 | 0.9 | 0.9 | 1.0 | 1.1 | 1.1 | 1.3 | 1.1 | 1.2 | 1.2 | 1.2 | 1.3 | 1.5 | 1.7 | 1.9 | 2.0 |
| Net income | −0.2 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.4 | 0.6 | 0.6 | 0.7 | 1.3 | 0.8 | 0.9 | 1.1 | 1.1 | 1.1 |
| Diluted EPS | −$1.39 | $1.53 | $1.75 | $2.01 | $2.06 | $2.35 | $2.64 | $2.62 | $2.38 | $3.15 | $3.43 | $3.91 | $6.95 | $4.51 | $4.90 | $5.39 | $5.69 | $5.79 |
| Growth (year on year) | ||||||||||||||||||
| Revenue | −2.0% | +11.6% | +4.4% | +7.0% | +0.9% | +4.6% | +4.9% | +4.5% | +1.7% | +2.5% | +4.9% | +4.6% | +4.1% | −3.5% | +11.7% | +10.6% | +9.7% | +5.4% |
| EBITDA | +292.2% | +114.4% | +9.1% | +13.0% | +3.8% | +5.3% | +6.2% | +2.6% | +12.2% | −5.6% | +9.0% | +3.1% | −1.1% | +4.9% | +14.9% | +13.5% | +10.7% | +6.9% |
| Operating income | — | +296.1% | +10.3% | +15.1% | +2.6% | +5.8% | +7.2% | +0.9% | +15.5% | −12.1% | +10.2% | +2.8% | −4.2% | +6.4% | +18.1% | +14.2% | +9.4% | +5.6% |
| Net income | — | — | +15.6% | +15.7% | +3.1% | +14.6% | +12.5% | −1.7% | −9.0% | +33.1% | +9.5% | +14.2% | +78.1% | −35.1% | +15.1% | +11.3% | +5.7% | +2.2% |
| Diluted EPS | — | — | +14.4% | +14.9% | +2.5% | +14.1% | +12.3% | −0.8% | −9.2% | +32.4% | +8.9% | +14.0% | +77.7% | −35.1% | +8.6% | +10.0% | +5.6% | +1.5% |
| Margins | ||||||||||||||||||
| EBITDA margin | 21.6% | 41.4% | 43.3% | 45.7% | 47.1% | 47.4% | 48.0% | 47.1% | 52.0% | 47.9% | 49.8% | 49.0% | 46.6% | 50.7% | 52.1% | 53.5% | 53.9% | 54.9% |
| Operating margin | 8.0% | 28.5% | 30.1% | 32.4% | 32.9% | 33.3% | 34.0% | 32.9% | 37.3% | 32.0% | 33.6% | 33.0% | 30.4% | 33.6% | 35.5% | 36.7% | 36.6% | 37.0% |
| Net margin | −10.2% | 10.5% | 11.6% | 12.5% | 12.8% | 14.0% | 15.1% | 14.2% | 12.7% | 16.5% | 17.2% | 18.8% | 32.1% | 21.6% | 22.3% | 22.4% | 21.6% | 21.3% |
| Free-cash-flow margin | −8.3% | 0.4% | −4.4% | 0.9% | −2.9% | 4.7% | 1.1% | −0.7% | 0.4% | −5.8% | −7.5% | −10.5% | −8.2% | −31.4% | −16.6% | −17.3% | −20.8% | −21.7% |
| Cash flow | ||||||||||||||||||
| Cash from operations | 0.6 | 0.8 | 0.8 | 1.0 | 0.9 | 1.1 | 1.2 | 1.3 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.1 | 1.9 | 2.0 | 2.1 | 2.3 |
| Capital spending | 0.8 | 0.8 | 0.9 | 0.9 | 1.0 | 1.0 | 1.2 | 1.3 | 1.4 | 1.6 | 1.7 | 1.8 | 1.8 | 2.3 | 2.6 | 2.9 | 3.1 | 3.5 |
| Free cash flow | −0.2 | 0.0 | −0.1 | 0.0 | −0.1 | 0.1 | 0.0 | −0.0 | 0.0 | −0.2 | −0.3 | −0.4 | −0.3 | −1.2 | −0.7 | −0.8 | −1.1 | −1.2 |
| Stock-based pay | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — |
| Free cash flow after stock pay | −0.2 | −0.0 | −0.1 | 0.0 | −0.1 | 0.1 | 0.0 | −0.0 | 0.0 | −0.2 | −0.3 | −0.4 | −0.3 | −1.2 | −0.7 | −0.8 | −1.1 | — |
| Balance sheet | ||||||||||||||||||
| Cash | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.5 | 0.1 | 0.1 | 0.3 | 0.1 | 0.1 | 0.1 |
| Total debt | 5.5 | 5.7 | 5.9 | 5.6 | 5.9 | 5.9 | 6.5 | 7.2 | 7.7 | 8.6 | 9.5 | 10.9 | 11.0 | 12.4 | 12.4 | 14.0 | 15.8 | 16.3 |
| Net debt (negative = net cash) | 5.4 | 5.6 | 5.9 | 5.6 | 5.8 | 5.9 | 6.5 | 7.1 | 7.7 | 8.5 | 9.4 | 10.4 | 10.9 | 12.3 | 12.0 | 13.9 | 15.7 | 16.2 |
| Diluted shares | 168m | 175m | 177m | 178m | 179m | 180m | 180m | 179m | 179m | 180m | 181m | 182m | 182m | 182m | 193m | 195m | 195m | 196m |
| Returned to shareholders | ||||||||||||||||||
| Dividends | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.6 | 0.6 | 0.7 |
| Buybacks | — | — | — | — | — | — | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | — | — | — |
| Total returned | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.4 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.6 | 0.6 | 0.7 |
| Quarter | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 | 2026 Q3 Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 1,201 | 1,142 | 1,276 | 1,451 | 1,271 | 1,207 | 1,355 | 1,510 |
| EBITDA | 607 | 587 | 710 | 840 | 636 | 628 | 782 | 886 |
| Operating income | 400 | 371 | 489 | 614 | 405 | 391 | 542 | 641 |
| Net income | 239 | 205 | 289 | 379 | 238 | 196 | 315 | 387 |
| Diluted EPS | $1.22 | $1.05 | $1.48 | $1.94 | $1.22 | $1.00 | $1.61 | $1.94 |
| Growth (year on year) | ||||||||
| Revenue | +16.4% | +13.0% | +11.1% | +9.7% | +5.8% | +5.7% | +6.2% | +4.1% |
| EBITDA | +26.5% | +14.2% | +10.6% | +13.1% | +4.8% | +7.0% | +10.1% | +5.5% |
| Operating income | +33.8% | +13.8% | +8.9% | +13.1% | +1.3% | +5.4% | +10.8% | +4.4% |
| Net income | +39.8% | +10.8% | +4.3% | +8.3% | −0.4% | −4.4% | +9.0% | +2.1% |
| Diluted EPS | +38.6% | +10.5% | +4.2% | +7.8% | 0.0% | −4.8% | +8.8% | 0.0% |
| Margins | ||||||||
| EBITDA margin | 50.5% | 51.4% | 55.6% | 57.9% | 50.0% | 52.0% | 57.7% | 58.7% |
| Operating margin | 33.3% | 32.5% | 38.3% | 42.3% | 31.9% | 32.4% | 40.0% | 42.5% |
| Net margin | 19.9% | 18.0% | 22.6% | 26.1% | 18.7% | 16.2% | 23.2% | 25.6% |
| Free-cash-flow margin | −21.2% | −19.0% | −33.9% | −2.3% | −30.3% | −29.3% | −19.0% | −10.6% |
| Cash flow | ||||||||
| Cash from operations | 639 | 331 | 301 | 764 | 663 | 305 | 602 | 728 |
| Capital spending | 894 | 548 | 733 | 797 | 1,048 | 659 | 860 | 888 |
| Free cash flow | −255 | −217 | −432 | −33 | −385 | −354 | −258 | −160 |
| Last 12 months unless stated | AWK | SBS | WTRG | CWT | HTO | AWR | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $5.3bn | $6.8bn | $2.6bn | $1.0bn | $838m | $697m | $455m |
| Revenue growth, last 12 months | 5.4% | 1.3% | 9.9% | 4.8% | 4.2% | 13.2% | 7.4% |
| Revenue growth, 3-year average | 8.9% | — | 3.7% | 9.7% | 7.7% | 6.4% | 8.4% |
| Revenue growth, latest quarter | 4.1% | — | 3.1% | 5.4% | 4.0% | 11.2% | 7.4% |
| Gross margin | — | 37.0% | — | — | — | 90.1% | 49.5% |
| Operating margin | 37.0% | — | 35.1% | 19.4% | 20.7% | 31.8% | 30.5% |
| Operating margin, 3-year average | 36.6% | — | 36.4% | 21.1% | 22.2% | 31.3% | 28.6% |
| Net margin | 21.3% | 22.2% | 21.6% | 13.5% | 12.5% | 20.5% | 20.9% |
| Cash from operations / revenue | 43.0% | 21.9% | 40.0% | 30.5% | 29.6% | 33.9% | 33.3% |
| Free-cash-flow margin | −21.7% | 21.9% | 22.9% | 16.5% | 13.8% | 3.0% | 8.4% |
| Free-cash-flow margin, 3-year average | −19.5% | 21.4% | 21.7% | 17.8% | 12.3% | −4.4% | 2.5% |
| Stock pay / revenue | 0.4% | — | 0.5% | 0.4% | 0.8% | 0.5% | 0.7% |
| Change in share count | 0.6% | 0.0% | 2.5% | 1.7% | 16.7% | 2.3% | 2.4% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 5.4% | 8.9% | 8 of 12 |
| Change in growth rate Growth | -1.5pp | +0.9pp | 9 of 12 |
| Operating margin Profitability | 37.0% | 30.5% | 2 of 11 |
| Net margin Profitability | 21.3% | 21.3% | 6 of 12 |
| Free-cash-flow margin Cash generation | -21.7% | 13.8% | 10 of 12 |
| Long-term debt as % of assets Balance sheet | 37.6% | 26.9% | 10 of 12 |
| Change in share count Balance sheet | 0.6% | 2.3% | 4 of 11 |
| Days sales outstanding Balance sheet | 32 days | 32 days | 6 of 11 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Blackrock, Inc. | $2.7B | 20.6M | 10.1% | ▲ 5.6% |
| Wellington Management Group LLP | $2B | 14.9M | 7.3% | ▲ 35.2% |
| Vanguard Capital Management LLC | $1.7B | 12.8M | 6.3% | ▲ 0.6% |
| State Street Corp | $1.6B | 11.9M | 5.8% | ▼ 1.1% |
| Vanguard Portfolio Management LLC | $1.5B | 11.3M | 5.5% | ▼ 0.4% |
| GQG Partners LLC | $1.2B | 8.9M | 4.4% | ▲ 38.4% |
| Aristotle Capital Management, LLC | $714M | 5.4M | 2.7% | ▼ 6.6% |
| Geode Capital Management, LLC | $685M | 5.2M | 2.5% | ▲ 1.2% |
| Jpmorgan Chase & Co | $664M | 5.0M | 2.5% | ▲ 161.0% |
| Amundi | $545M | 4.1M | 2.0% | ▼ 4.7% |
| Northern Trust Corp | $478M | 3.6M | 1.8% | ▲ 1.2% |
| Impax Asset Management Group PLC | $472M | 3.6M | 1.8% | ▲ 27.2% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not American Water Works's complete shareholder register. Values are as reported by the filers ; 6 inconsistently scaled filing rows were excluded.
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
In the last 12 months, 4 members of Congress disclosed 1 purchase and 4 sales of American Water Works shares.
Next expected around February 17, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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