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American Water Works Company, Inc.

AWK Utilities Utilities Regulated Water

American Water Works Company, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.1 billion, up 9.74% from fiscal 2024.

Revenue
+4.07%
EPS
+0.24%
Free cash flow
−384.9%
Total debt
+4.16%

Quarter to September 2026, against a year earlier

152.07 2.44 +1.63%
Market cap
$30.4B
P/E
26.3×
Fwd P/E
23.8×
Dividend yield
2.27%
F-score
7/9
Altman Z
0.96
Beneish M
−2.81
Dividend safety
43/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Regulated Businesses
  • Other, not broken out

Every year since 2011 →

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.15%

Capital & Financial Ratios $m

Size
Market Cap 30,350.00
Revenue ttm 5,343.00
Net income ttm 1,136.00
Free cash flow ttm (1,157.00)
Net debt Q 14,751.00
Valuation
P/E 26.33
Forward P/E 23.80
Price / sales 5.66
Forward P/S Powerpack
Price / FCF 0.00
Price / book 2.54
Financial health
Current ratio Q 0.39 (below 1: weak)
Debt / equity Q 1.25
Interest coverage Q 3.84
Growth
Revenue growth Q +4.07% (above 0%: growing)
Operating income growth Q +4.40% (above 0%: growing)
EPS, this year +6.72%
EPS, next year A +8.51%
Revenue, next year A +5.80%
EPS, past 5 yrs +7.79%
EPS, next 5 yrs A +7.78%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.4×, against a ten-year median of 8.4×; over the ten years it ranged from 5.5× in 2016 to 11.4× in 2021.
P/E against its own 10 years 32.86%
10-year low 10-year high
P/S against its own 10 years 48.51%
10-year low 10-year high
P/B against its own 10 years 24.17%
10-year low 10-year high
EV/Sales against its own 10 years 51.52%
10-year low 10-year high

Dividends raised every year since 2018

Yield
2.27%
Annual rate
3.45
Payout ratio
59.7%
Growth, 2018–26
+8.87%/yr
  1. 1.78 ’18
  2. 1.96 ’19 +10
  3. 2.15 ’20 +10
  4. 2.36 ’21 +10
  5. 2.57 ’22 +9
  6. 2.78 ’23 +8
  7. 3.00 ’24 +8
  8. 3.25 ’25 +8
  9. 3.51 ’26 +8
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 364 125 119 137
Receivables 425 441 404 566
Inventory 112 103 112 110
Other 488 546 1,556 671
1,389 1,215 2,191 1,484
2023 2024 2025 Q'26
Payables 294 346 378 321
ST’ Debt 475 637 1,479 898
Other 252 230 198 271
2,151 3,150 4,747 3,786

Compound Annual Growth %

10y 5y 3y
Sales 4.99% 6.36% 10.67%
Cash Flow 5.59% 7.62% 22.94%
Earnings 8.85% 9.40% 10.65%
Book Value 7.94% 10.92% 12.10%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.11 Actual 2.00

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.28 1.24 Miss by 0.04
Q1 FY26 1.10 1.01 Miss by 0.09
Q2 FY26 1.59 1.61 Beat by 0.02
Q3 FY26 2.11 2.00 Miss by 0.11
Q4 FY26 1.39 — Reports 17 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.00 1.61 1.94 — —
’25 1.05 1.48 1.94 1.22 5.69
’24 0.95 1.42 1.80 1.22 5.39
’23 0.91 1.44 1.66 0.88 4.90
’22 0.87 1.20 1.63 0.81 4.51
’21 0.73 1.14 1.53 3.55 6.95
’20 0.68 0.97 1.46 0.80 3.91
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,207 1,355 1,510 — —
’25 1,142 1,276 1,451 1,271 5,140
’24 1,011 1,149 1,323 1,201 4,684
’23 938 1,097 1,167 1,032 4,234
’22 842 937 1,082 931 3,792
’21 888 999 1,092 951 3,930
’20 844 931 1,079 923 3,777
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 305 602 728 — —
’25 331 301 764 663 2,059
’24 382 345 679 639 2,045
’23 285 429 633 527 1,874
’22 154 42 568 344 1,108
’21 179 341 509 412 1,441
’20 180 351 457 438 1,426
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (354) (258) (160) — —
’25 (217) (432) (33) (385) (1,067)
’24 (227) (325) (4) (255) (811)
’23 (241) (198) 7 (269) (701)
’22 338 (529) (34) (356) (581)
’21 (163) (69) 56 325 149
’20 (226) (111) 13 (70) (394)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 28.8% a year for ten years.

Implied
28.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,302 3,357 3,440 3,610 3,777 3,930 3,792 4,234 4,684 5,140 5,343 +5.0% 5,438 5,809 6,200 +6.4%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 770 912 787 833 924 1,640 1,008 1,196 1,359 1,422 1,445 +7.1%
EBT margin, % 23.32 27.17 22.88 23.07 24.46 41.73 26.58 28.25 29.01 27.67 27.04 +4.4 pt
Net income 468 426 565 621 709 1,263 820 944 1,051 1,111 1,136 +10.1%
Per share, $
Per share, $ Revenue 18.55 18.86 19.11 19.94 20.87 21.59 20.84 21.94 24.02 26.36 26.85 +4.0%
Earnings 2.63 2.39 3.16 3.44 3.91 6.96 4.51 4.90 5.39 5.69 5.77 +9.0%
Cash flow 7.24 8.14 7.70 7.64 7.88 7.92 6.09 9.71 10.49 10.56 11.55 +4.3%
Capex (7.31) (7.97) (8.62) (8.87) (10.06) (7.10) (9.28) (13.34) (14.65) (16.03) (17.36) +9.1%
Free cash flow (0.07) 0.17 (0.92) (1.23) (2.18) 0.82 (3.19) (3.63) (4.16) (5.47) (5.81) +61.6%
Book value 29.31 30.25 32.58 33.82 35.66 40.10 42.27 50.76 52.98 55.57 59.95 +7.4%
Shares, m 178 178 180 181 181 182 182 193 195 195 196 +1.0%
Valuation, ×
Valuation, × P/E 27.47 37.20 28.72 35.82 39.15 27.14 34.17 27.30 23.10 22.94 26.33 30.3
P/S 3.89 4.72 4.75 6.16 7.35 8.75 7.40 6.09 5.18 4.95 5.66 5.9
P/B 2.46 2.94 2.79 3.63 4.30 4.71 3.65 2.63 2.35 2.35 2.54 3.2
EV/Sales 5.78 6.73 6.93 8.54 9.76 11.36 10.32 8.88 7.97 7.70 8.42 8.4
EV/FCF (1,469.12) 753.14 (144.41) (138.19) (93.56) 299.58 (67.37) (53.63) (46.00) (37.10) (38.90) (99.7)
Cash, $m
Cash, $m Operating cash flow 1,289 1,449 1,386 1,383 1,426 1,441 1,108 1,874 2,045 2,059 2,298 +5.3%
Capex (1,302) (1,419) (1,551) (1,606) (1,820) (1,292) (1,689) (2,575) (2,856) (3,126) (3,455) +10.2%
Free cash flow (13) 30 (165) (223) (394) 149 (581) (701) (811) (1,067) (1,157) +63.2%
Balance, $m
Balance, $m Working capital (1,608) (1,605) (1,313) (760) (975) (587) (1,561) (762) (1,935) (2,556) (2,302) +5.3%
Net debt 6,238 6,738 7,489 8,581 9,086 10,265 11,093 11,829 13,033 14,140 14,751 +9.5%
Shareholders’ equity 5,218 5,385 5,864 6,121 6,454 7,298 7,693 9,797 10,332 10,837 11,931 +8.5%
Returns, %
Returns, % ROA 2.62 2.24 2.79 2.83 2.99 4.97 3.04 3.25 3.33 3.25 3.16 +0.6 pt
ROIC 5.92 6.46 5.16 5.16 5.02 4.26 4.24 4.35 4.60 4.70 4.64 (1.2) pt
ROE 9.12 8.04 10.08 10.36 11.28 18.37 10.94 10.79 10.44 10.50 9.95 +1.4 pt
People
People Employees 6,800 6,900 7,100 6,800 7,000 6,400 6,500 6,500 6,700 7,000 — +0.3%
Revenue/emp, $m 0.49 0.49 0.48 0.53 0.54 0.61 0.58 0.65 0.70 0.73 — +4.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

American Water Works Company is a holding company whose main business is owning regulated water and wastewater utilities. Its utility subsidiaries store, pump, treat and deliver drinking water; collect wastewater through sewer networks; treat it to required standards; and return treated water to the environment. The company sells these services to homes, businesses, industrial facilities, public authorities, fire-service customers, and other utilities or community systems through bulk contracts.

Most of the business sits in its Regulated Businesses segment. Those utilities operate under franchises, charters, certificates of public convenience and necessity, or comparable authorizations, and their customer rates and many operating and investment decisions are overseen by state utility commissions. Water customers are generally metered and billed monthly based on use, while wastewater customers are billed a flat amount or based on water consumption.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Regulated Businesses 4,704 91.52%
Other, not broken out 417 8.11%
Gross margin 100.00%
Operating margin 36.56%
Pre-tax margin 27.67%

Revenue by segment since 2011

American Water Works Company, Inc. vs peers in Utilities Regulated Water (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AWK American Water Works Company, Inc. $30.4B 26.3× 23.8× +4.07% (above 0%: growing) +0.24% (above 0%: growing) −384.85% (below 0%: shrinking) 100.00% 42.45%
SBS Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp $16.0B 11.6× 13.7× +46.43% (above 0%: growing) +14.45% (above 0%: growing) −154.90% (below 0%: shrinking) 37.66% 31.04% Compare
WTRG Essential Utilities Inc. $13.1B 23.1× 19.6× +6.56% (above 0%: growing) +10.61% (above 0%: growing) +231.64% (above 0%: growing) 95.01% 37.91% Compare
AWR American States Water Company $3.5B 24.2× 23.3× +5.37% (above 0%: growing) 0.00% −27.88% (below 0%: shrinking) 0.00% 34.95% Compare
CWT California Water Service Group $3.2B 22.5× 19.2× +6.73% (above 0%: growing) +1.94% (above 0%: growing) −97.13% (below 0%: shrinking) 69.26% 24.89% Compare
HTO H2O America $3.0B 23.9× 20.3× +4.02% (above 0%: growing) −19.23% (below 0%: shrinking) +34.01% (above 0%: growing) 58.72% 24.17% Compare
MSEX Middlesex Water Company $1.1B 21.5× 21.2× +11.30% (above 0%: growing) +23.14% (above 0%: growing) +15.96% (above 0%: growing) 100.00% 36.99% Compare
YORW The York Water Company $522.9M 19.9× 18.8× +22.48% (above 0%: growing) +40.00% (above 0%: growing) +111.16% (above 0%: growing) 100.00% 41.71% Compare
CWCO Consolidated Water Co. Ltd. $425.0M 25.8× 29.6× −2.15% (below 0%: shrinking) −21.88% (below 0%: shrinking) +39.37% (above 0%: growing) 33.35% 11.39% Compare
Median of peers $3.1B 22.8× 20.0× +6.65% +6.28% +24.99% 63.99% 32.99%

All 12 Utilities Regulated Water stocks →

From the latest earnings call

Updated

  • John Griffith said American Water expects its proposed merger with Essential Utilities to close by the end of the first quarter of 2027.
  • David Bowler said new authorized rates lifted revenue, while depreciation, financing costs and general taxes rose as American Water invested in its systems.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 99.30%
Held by the ten largest 52.58%
Holder Shares Stake Change
Vanguard 26.22m 13.19% +80.95k
BlackRock 20.61m 10.37% +1.10m
Wellington Management 14.91m 7.50% +3.88m
State Street 11.90m 5.99% −136.88k
GQG Partners LLC 8.90m 4.48% +2.47m
Geode Capital Management 5.22m 2.63% +61.30k
JPMorgan Chase 5.01m 2.52% +3.09m
Amundi 4.15m 2.09% −205.56k
UBS 3.93m 1.98% +204.58k
Northern Trust 3.63m 1.83% +44.17k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 24 March 2026

Ownership

Directors and executive officers, together less than 1%
Malvern, PA 12.30%
New York, NY 10.10%
Boston, MA 5.70%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

American Water Works Company, Inc. (AWK) Latest News

30 Oct

Impact 4 · · MarketBeat transcript

29 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool transcript
Impact 4 · · Zacks
Impact 4 · · 24/7 Wall St.
Impact 4 · · Moby

28 Oct

Impact 4 · · PR Newswire earnings
Impact 3 · · Zacks
Impact 3 · · Associated Press

27 Oct

Impact 3 · · PR Newswire
Impact 3 · · PR Newswire

26 Oct

Impact 3 · · Zacks
Impact 3 · · PR Newswire

23 Oct

Impact 3 · · PR Newswire

22 Oct

Impact 4 · · PR Newswire
Impact 4 · · Barchart

21 Oct

Impact 4 · · Zacks

20 Oct

Impact 4 · · PR Newswire

15 Oct

Impact 4 · · Zacks

14 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · PR Newswire
Impact 3 · · Insider Monkey

9 Oct

Impact 3 · · PR Newswire
Impact 3 · · PR Newswire

8 Oct

Impact 4 · · PR Newswire
Impact 3 · · PR Newswire

6 Oct

Impact 3 · · PR Newswire

5 Oct

Impact 3 · · PR Newswire

2 Oct

Impact 3 · · Zacks

1 Oct

Impact 4 · · Zacks

AWK metrics, ten years each

stockrow.com/AWK · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com