H2o America valuation and forecast

Explore the models for H2o America, adjust their assumptions and compare your own valuation with the platform's.

Stock price today

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Fair value per share

Under review: after-tax interest is 58% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 58% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Your valuation workspace

What is HTO worth to you?

Start with the company's financial data. Make the assumptions your own.

5 models available

All model types

01 / Assumptions

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The cash flows behind your value

USD per share

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Forecast year	Cash flow / share

Negative cash flows are shown in terracotta. Before the terminal value and equity bridge. Residual-income models show excess earnings; dividend models show dividends.

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Your weighted value—

Weights start with the platform's included models. Change them to build your own combination. Select a model name to edit its assumptions.

Model	Your value / share	Weight

The platform's price and consistency filters are not reapplied to your scenarios.

Other model types 17 unavailable for HTO

Cash-flow model (DCF)

This model is withheld pending its input or assumption review.

Revenue-to-maturity DCF

This model does not apply to this company with the available financial data.

Growth DCF

This model does not apply to this company with the available financial data.

P/B vs return on equity

This model does not apply to this company with the available financial data.

Peer price-to-book

This model does not apply to this company with the available financial data.

Peer P/E

This model does not apply to this company with the available financial data.

Peer price-to-FFO

This model does not apply to this company with the available financial data.

Peer price-to-sales

This model does not apply to this company with the available financial data.

Forward peer price-to-sales

This model does not apply to this company with the available financial data.

P/E comparison

This model does not apply to this company with the available financial data.

P/S comparison

This model does not apply to this company with the available financial data.

PEG comparison

This model does not apply to this company with the available financial data.

Growing-dividend model

This model does not apply to this company with the available financial data.

REIT funds from operations

This model does not apply to this company with the available financial data.

Book value / net assets

This model does not apply to this company with the available financial data.

Reported crypto treasury NAV

This model does not apply to this company with the available financial data.

Proved-reserve NAV

This model does not apply to this company with the available financial data.

Model values are estimates under the assumptions shown. They are not share-price forecasts or investment advice.

Valuation models compared

Utility earnings modelNet income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative.

~$45~$37–$56

Forward price-to-earnings vs peersNext year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

~$43~$43–$54

Justified price-to-bookBook value times (return on equity - growth) / (cost of equity - growth): steady-state returns.

~$45~$36–$60

Residual incomeBook value plus the present value of returns above the cost of equity, fading over ten years.

~$45~$31–$69

Dividend discount (two-stage)Dividends for five years at the growth the business can fund, then a steady payout and growth.

~$45~$35–$60

Different models answer different questions: the cash-flow models ask what the business generates for owners; the peer multiples ask what similar companies in our coverage trade on. Where they disagree, the gap is the story. Projections are estimates based on current data, updated daily. Not investment advice. How each model works.

Analyst recommendations

7 analysts, Oct 2026

Buy571%

Hold229%

Sell00%

Monthly trend

Oct 20261427
Sep 20261427
Aug 20261427
Jul 20261427

Counts of recommendations published by analysts covering H2o America, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Price history

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The assumptions

Free cash flow (TTM, FY2026 Q3): $116M
Less stock-based pay: $6.5M
Cash flow we value: $158M
Growth, years 1–5 (base): %
Then fading to: 2.5%
Discount rate: 8.5%
Net cash added: -$1.6B
Diluted shares: 48M

What would move the value

Growth 5 points lower: −48%
Growth 5 points higher: +62%
Free-cash-flow margin 1 point lower: −9%
Discount rate 1 point higher: −28%

Change in our model value when one input moves, all else equal.

HTO valuation questions

How does Fundamentalytics value H2o America?: We use the models that fit H2o America's business and available financial data: utility earnings model, forward price-to-earnings vs peers, justified price-to-book, residual income, dividend discount (two-stage). Each model has its own assumptions and data requirements. The calculator explains which models are available and lets you adjust their inputs.

Data: SEC EDGAR filings, retrieved October 29, 2026. Method: how we value companies. Disclosures: research and recommendations disclosure. Back to H2o America.

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