| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | 1 | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 1 | — | — | — | — | — | 2 | — | — | 1 | 1 |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 2.10 |
—
—
—
|
| 2025 | 1.94 |
—
—
—
—
|
| 2024 | 1.79 |
—
—
—
—
|
| 2023 | 2.05 |
—
—
—
—
—
|
| 2022 | 1.53 |
—
—
—
—
|
| 2021 | 1.40 |
—
—
—
—
|
| 2020 | 1.28 |
—
—
—
—
|
| 2019 | 1.16 |
—
—
—
—
|
| 2018 | 1.06 |
—
—
—
—
|
| 2017 | 0.99 |
—
—
—
—
|
| 2016 | 0.91 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 14.07 | 26.66 | 18.82 | 21.66 |
| Receivables | 89.95 | 85.18 | 90.85 | 50.86 |
| Inventory | 17.57 | 15.14 | 16.41 | 18.55 |
| Other | 78.62 | 99.08 | 97.45 | 123.35 |
| 205.98 | 233.35 | 231.07 | 226.49 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 68.71 | 88.59 | 86.02 | 79.51 |
| ST’ Debt | 42.35 | 124.39 | 8.21 | 73.23 |
| Other | 15.22 | 29.64 | 38.54 | 37.56 |
| 166.62 | 285.53 | 174.61 | 231.11 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 169.19 | 181.29 | — | — |
—
|
| ’25 | 148.01 | 163.07 | 182.72 | 164.28 |
658.07
|
| ’24 | 135.25 | 155.33 | 161.78 | 143.10 |
595.46
|
| ’23 | 161.42 | 157.40 | 151.70 | 125.18 |
595.70
|
| ’22 | 108.57 | 122.61 | 134.98 | 125.37 |
491.53
|
| ’21 | 117.06 | 128.41 | 136.76 | 116.62 |
498.85
|
| ’20 | 109.08 | 121.28 | 133.69 | 124.20 |
488.24
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 71.64 | 44.92 | — | — |
—
|
| ’25 | 45.06 | 64.58 | 92.38 | 27.72 |
229.73
|
| ’24 | 45.81 | 24.70 | 63.70 | 64.52 |
198.73
|
| ’23 | 6.96 | 10.80 | 38.75 | 11.17 |
67.68
|
| ’22 | 38.03 | 18.88 | 33.03 | 27.87 |
117.80
|
| ’21 | 24.68 | 16.47 | 40.78 | 33.66 |
115.58
|
| ’20 | 15.65 | 30.61 | 41.58 | 34.33 |
122.17
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 22.59 | (3.59) | — | — |
—
|
| ’25 | (22.50) | 13.66 | 37.73 | (35.98) |
(7.09)
|
| ’24 | (1.74) | (37.04) | (0.48) | 6.03 |
(33.23)
|
| ’23 | (42.37) | (28.51) | (8.73) | (41.24) |
(120.86)
|
| ’22 | 2.86 | (22.50) | (12.48) | (16.32) |
(48.44)
|
| ’21 | (12.42) | (22.59) | 10.21 | (4.13) |
(28.93)
|
| ’20 | (17.89) | 1.57 | 9.34 | (1.18) |
(8.16)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.76 | 1.09 | — | — |
—
|
| ’25 | 0.70 | 0.87 | 1.06 | 0.74 |
3.37
|
| ’24 | 0.62 | 0.85 | 0.95 | 0.75 |
3.17
|
| ’23 | 0.93 | 1.04 | 0.85 | 0.55 |
3.36
|
| ’22 | 0.38 | 0.54 | 0.69 | 0.50 |
2.11
|
| ’21 | 0.52 | 0.72 | 0.76 | 0.55 |
2.55
|
| ’20 | 0.38 | 0.69 | 0.72 | 0.54 |
2.33
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 71.22 | 75.20 | 66.03 | 69.45 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 103.44 | 99.19 | 87.50 | 82.94 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 811 | 815 | 846 | 900 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.61 | 0.73 | 0.70 | 0.73 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 491.53 | 595.70 | 595.46 | 658.07 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 75.20% | 79.89% | 79.00% | 76.92% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 102.06 | 166.52 | 149.44 | 169.80 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 20.76% | 27.95% | 25.10% | 25.80% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 78.40 | 124.92 | 119.27 | 130.44 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 41.70 | 43.25 | 44.23 | 48.87 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.30 | 16.11 | 15.89 | 17.07 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 2.12 | 3.37 | 3.17 | 3.37 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.19 | 1.83 | 5.30 | 5.96 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (4.50) | (5.10) | (6.19) | (6.14) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.31) | (3.27) | (0.89) | (0.18) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.20 | 20.99 | 24.56 | 27.12 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 36.96 | 36.98 | 37.46 | 38.55 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 45.09 | 23.88 | 24.52 | 21.51 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.15 | 4.99 | 4.89 | 4.25 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.96 | 3.83 | 3.16 | 2.67 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.61 | 6.50 | 6.41 | 5.63 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (87.41) | (32.02) | (114.81) | (522.73) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 117.80 | 67.68 | 198.73 | 229.73 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (166.24) | (188.54) | (231.96) | (236.82) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (48.44) | (120.86) | (33.23) | (7.09) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (245.23) | 39.36 | (52.18) | 56.46 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 724.45 | 909.41 | 929.77 | 931.91 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 718.45 | 895.34 | 903.11 | 913.09 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 709.55 | 776.11 | 920.05 | 1,045.58 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.97% | 5.82% | 5.01% | 4.98% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.54% | 7.36% | 6.32% | 6.49% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.21% | 16.77% | 14.01% | 13.23% | — | — | — |
ROE
|
American States Water Company (AWR), the steady utility serving California’s drought-plagued and wildfire-ravaged regions, is often hailed as a “boring but beautiful” dividend aristocrat with 70 years of payout hikes. Yet, beneath the surface gleam of surging revenue—up 4.5% CAGR to $595 million in 2023, fueled by rate approvals—and climbing EPS from $1.63 to $3.17 over the decade, lurk serious cracks: exploding capex from $130 million to $232 million, persistent negative free cash flow per share (-$0.89 in 2024), and debt doubling to $930 million, masking a middling ROIC of 6.3%.
Wall Street’s uniform 20% upside targets overlook these pressures, pricing in perfection amid premium valuations (24.5x PE vs. peers’ 18-20x) and insider signals flashing yellow—sells outpacing scant buys 1.7-to-1. While ROE hit an enviable 16.8% and analysts eye modest EPS growth to $3.73 by 2027, regulatory roulette from CPUC rate cases, climate wildcards like wildfires and scarcity, and debt overhang threaten dividend sanctity and balance sheet health.
Is AWR’s infrastructure resilience just a leaky facade, or a contrarian buy in utility volatility? Dive into the full analysis for the data-driven verdict on whether to sip this dividend stream or bail before the drought hits harder.
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