H2o America cash flow statement

In fiscal 2025, H2o America's operations generated $245m of cash. It returned $58.6m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

H2o America: cash flow statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash from operations	115	101	91	130	104	130	166	191	196	245	248
Depreciation and amortisation	46	51	57	68	92	96	106	108	115	120	132
Stock-based pay	2	3	2	3	4	4	5	5	6	6	6
Dividends paid	17	21	23	34	37	40	44	48	52	59	68
Shares issued	0	0	411	−0	0	91	39	81	85	123	633

US$ millions unless shown otherwise. Fiscal quarters.

H2o America: cash flow statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Cash from operations	41	43	61	77	64	44	61	80
Depreciation and amortisation	29	30	30	30	31	34	34	34
Stock-based pay	1	1	1	2	2	1	2	2
Shares issued	22	27	57	24	15	289	−0	330

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from H2o America's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to H2o America.