Reading the tape
NYSE: AWR
American States Water Company
Utilities · Regulated Water
Market Cap
$2.98B
52w High
$82.94
52w Low
$69.45
P/E
22.48
Volume
213.30K
Outstanding Shares
39.19M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -4.77%Revenue (TTM): 10.52%FCF (TTM): 78.66%P/E: 5th pct
What changed
The stock fell 4.77% over the last year. Revenue grew 10.52% over the trailing twelve months. Operating margin moved from 30.98% to 30.89%. Free cash flow grew 78.66% over the trailing twelve months.
What the market seems to be pricing
The stock has moved lower against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 30.89%. A decisive move in revenue — currently up 10.52% — would be the clearest signal to resolve the ambiguity.
Company profile
American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States.
CEORobert J. Sprowls
SectorUtilities
IndustryRegulated Water
Employees517
IPO dateFeb 21, 1973
Valuation
Forward P/E—
EV/EBITDA14.75
Enterprise value$3.72B
Stock splits
Sep 4, 2013↑ Forward
Every 1 shares became 2
Jun 10, 2002↑ Forward
Every 2 shares became 3
Oct 6, 1993↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth14.8%
Gross margin63.45%▼33.12%vs FY2024
Operating margin30.89%▼0.30%vs FY2024
ROE12.48%▼3.76%vs FY2024
Analyst consensus
RatingHold
Target price$89.50▲17.65%
2
Buy
5
Hold
3
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 6, 2026
Q2 FY26 · EPS est $0.77 · Revenue est $157.02M
View
Dividends
$1.98/shareQuarterlyDividend Achiever · 23yrAt RiskAWR pays a dividend with a 2.6% dividend yield, 23 consecutive years of growth, growing at 8.58% annually, covered -0.1× by free cash flow.
Dividend Yield
2.6%
Annual Div / Share
$1.98
5yr CAGR
+8.58%
Doubles every ~8.4yr
Payout Ratio
57.23%
At Risk
Dividend Growth Rate
3yr CAGR
+8.28%
5yr CAGR
+8.58%
10yr CAGR
+8.37%
Dividend Safety
4/10At Risk
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$1.98+8.3%
2024$1.83+8.2%
2023$1.69+8.3%
2022$1.56+8.9%
2021$1.43+9.2%
2020$1.31+10.1%
2019$1.19+10.2%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$26/yr
$2/mo
In 5 yrs
$39/yr+51%
$3/mo
In 10 yrs
$59/yr+128%
$5/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$26/yr $2/mo | $39/yr+51% $3/mo | $59/yr+128% $5/mo |
Yield-on-cost grows from 2.6% → 5.92% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
AWR has raised its dividend for 23 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Strong dividend growth rate
The 5-year CAGR of 8.58% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
Dividend exceeds free cash flow
Free cash flow covers only -0.09× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.