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Consolidated Water Co. Ltd.

CWCO Utilities Utilities Regulated Water

Consolidated Water Co. Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $132.1 million, down 1.41% from fiscal 2024.

Revenue
−2.15%
EPS
−21.9%
Free cash flow
+39.4%
Total debt
−86.9%

Quarter to June 2026, against a year earlier

27.40 0.04 −0.15%
Market cap
$439.4M
P/E
26.7×
Fwd P/E
29.6×
Dividend yield
2.04%
F-score
5/9
Altman Z
12.96
Beneish M
−3.17
Dividend safety
85/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.10
Sold, $m 0.09
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — — — — — — — — 1 1 — —
Insider Ownership 5.44%

Capital & Financial Ratios $m

Size
Market Cap 439.39
Revenue ttm 127.61
Net income ttm 16.78
Free cash flow ttm 30.37
Net debt Q (132.61)
Valuation
P/E 26.66
Forward P/E 29.60
Price / sales 3.45
Forward P/S Powerpack
Price / FCF 14.48
Price / book 1.90
Financial health
Current ratio Q 5.95 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 7,489.40
Growth
Revenue growth Q −2.15% (below 0%: shrinking)
Operating income growth Q −29.13% (below 0%: shrinking)
EPS, this year −21.55% (below 0%: weak)
EPS, next year A +49.45% (at or above 15%: strong)
Revenue, next year A −3.46% (below 0%: weak)
EPS, past 5 yrs +36.56% (at or above 15%: strong)
EPS, next 5 yrs A +15.60% (at or above 15%: strong)

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 2.4×, against a ten-year median of 2.4×; over the ten years it ranged from 1.5× in 2020 to 3.6× in 2026.
P/E against its own 10 years 40.11%
10-year low 10-year high
P/S against its own 10 years 74.75%
10-year low 10-year high
P/B against its own 10 years 73.39%
10-year low 10-year high
EV/Sales against its own 10 years 50.20%
10-year low 10-year high
EV/FCF against its own 10 years 13.66%
10-year low 10-year high

Dividends raised 2 years running

Yield
2.04%
Annual rate
0.56
Payout ratio
55.9%
Growth, 2018–26
+1.18%/yr
  1. 0.51 ’18
  2. 0.34 ’19 −33
  3. 0.34 ’20 +0
  4. 0.34 ’21 +0
  5. 0.34 ’22 +0
  6. 0.36 ’23 +6
  7. 0.30 ’24 −17
  8. 0.50 ’25 +67
  9. 0.56 ’26 +12
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 43 99 124 133
Receivables 38 40 33 29
Inventory 6 9 4 4
Other 22 4 3 3
113 158 170 174
2023 2024 2025 Q'26
Payables 12 9 10 11
ST’ Debt 0 0 0 0
Other 9 12 15 15
24 25 28 29

Compound Annual Growth %

10y 5y 3y
Sales 8.74% 12.70% 11.96%
Cash Flow 9.19% 19.20% 25.05%
Earnings 9.31% 37.70% 46.33%
Book Value 4.34% 6.05% 10.55%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.22 Actual 0.25

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY25 0.20 0.32 Beat by 0.12
Q3 FY25 0.24 0.34 Beat by 0.10
Q1 FY26 0.27 0.24 Miss by 0.03
Q2 FY26 0.22 0.25 Beat by 0.03
Q3 FY26 0.24 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.23 0.24 — — —
’25 0.30 0.32 0.34 0.19 1.14
’24 0.40 0.99 0.28 0.10 1.77
’23 0.24 0.46 0.54 0.63 1.86
’22 0.11 0.15 0.02 0.13 0.38
’21 0.06 (0.11) 0.02 0.10 0.06
’20 0.19 (0.07) 0.09 0.04 0.24
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 30 33 — — —
’25 34 34 35 30 132
’24 40 32 33 28 134
’23 33 44 50 53 180
’22 20 21 25 28 94
’21 17 17 16 17 67
’20 21 19 18 15 73
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 7 12 — — —
’25 12 9 15 6 42
’24 6 21 10 (1) 37
’23 5 0 3 0 8
’22 5 9 3 6 21
’21 1 0 3 3 7
’20 0 4 7 7 17
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 5 9 — — —
’25 10 6 14 3 33
’24 5 20 9 (4) 30
’23 4 (2) 2 (1) 3
’22 4 8 1 1 14
’21 1 0 3 2 6
’20 (1) 4 6 7 16
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
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 Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 58 59 66 69 73 67 94 180 134 132 128 +9.6% 128 188 — +19.4%
Gross margin, % 41.90 40.42 40.69 41.10 36.86 35.16 32.26 34.36 34.06 36.63 35.36 (5.3) pt
EBT 2 4 11 13 9 4 10 38 21 21 19 +28.5%
EBT margin, % 3.87 6.40 16.31 18.18 12.98 5.44 10.35 21.08 15.44 16.19 14.60 +12.3 pt
Net income 3 6 12 14 4 2 7 30 29 19 17 +23.8%
Per share, $
Per share, $ Revenue 3.91 3.99 4.39 4.58 4.80 4.39 6.15 11.45 8.46 8.29 7.98 +8.7%
Earnings 0.27 0.41 0.75 0.81 0.24 0.06 0.38 1.88 1.78 1.15 1.03 +17.5%
Cash flow 0.53 1.02 0.60 1.01 1.15 0.46 1.40 0.51 2.31 2.62 2.49 +19.5%
Capex (0.20) (0.30) (1.08) (0.20) (0.11) (0.09) (0.49) (0.32) (0.39) (0.53) (0.59) +11.6%
Free cash flow 0.33 0.71 (0.47) 0.81 1.03 0.36 0.91 0.19 1.91 2.09 1.90 +22.7%
Book value 10.41 10.47 10.94 11.84 11.18 10.89 10.97 12.19 13.60 14.24 14.44 +3.5%
Shares, m 15 15 15 15 15 15 15 16 16 16 16 +0.8%
Valuation, ×
Valuation, × P/E 40.19 30.00 15.17 19.79 48.22 164.45 35.69 18.68 14.46 30.40 26.66 41.7
P/S 2.78 3.16 2.65 3.56 2.51 2.42 2.36 3.09 3.06 4.25 3.45 3.0
P/B 1.04 1.20 1.07 1.38 1.08 0.98 1.33 2.90 1.90 2.48 1.90 1.5
EV/Sales 2.10 2.40 2.18 2.95 1.91 1.78 1.83 2.85 2.32 3.32 2.41 2.4
EV/FCF 24.74 13.42 (20.15) 16.73 8.87 21.59 12.43 174.60 10.27 13.17 10.11 27.6
Cash, $m
Cash, $m Operating cash flow 8 15 9 15 17 7 21 8 37 42 40 +20.4%
Capex (3) (5) (16) (3) (2) (1) (7) (5) (6) (8) (9) +12.5%
Free cash flow 5 11 (7) 12 16 6 14 3 30 33 30 +23.7%
Balance, $m
Balance, $m Working capital 54 59 54 65 66 69 70 89 133 142 145 +11.3%
Net debt (39) (45) (31) (42) (44) (43) (50) (42) (99) (124) (133) +13.6%
Shareholders’ equity 154 156 164 178 169 166 168 192 215 227 231 +4.4%
Returns, %
Returns, % ROA 2.44 3.73 6.68 6.67 1.99 0.49 3.16 14.37 12.22 7.31 6.20 +4.9 pt
ROIC 1.16 1.28 3.76 5.39 4.16 1.02 4.94 15.53 9.84 11.14 9.94 +10.0 pt
ROE 2.62 3.96 7.06 7.12 2.13 0.52 3.51 16.45 13.86 8.29 7.12 +5.7 pt
People
People Employees 117 120 108 105 102 197 223 293 307 293 — +10.7%
Revenue/emp, $m 0.49 0.49 0.61 0.66 0.71 0.34 0.42 0.62 0.44 0.45 — (1.0%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Consolidated Water Co. Ltd. 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
AWR American States Water Company $3.4B 23.8× 23.3× +11.18% (above 0%: growing) +26.44% (above 0%: growing) −126.32% (below 0%: shrinking) 79.44% 35.29% Compare
CWT California Water Service Group $3.1B 21.8× 19.2× +6.73% (above 0%: growing) +1.76% (above 0%: growing) −97.13% (below 0%: shrinking) 69.26% 24.89% Compare
HTO H2O America $2.9B 23.2× 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 20.8× 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 $514.3M 19.7× 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. $439.4M 26.7× 29.6× −2.15% (below 0%: shrinking) −21.88% (below 0%: shrinking) +39.37% (above 0%: growing) 33.35% 11.39%
ARTNA Artesian Resources Corporation $350.4M 14.7× 16.7× +7.41% (above 0%: growing) +4.92% (above 0%: growing) +68.43% (above 0%: growing) 100.00% 28.09% Compare
PCYO Pure Cycle Corporation $254.0M 17.2× 25.8× +59.96% (above 0%: growing) +33.33% (above 0%: growing) +492.06% (above 0%: growing) 52.12% 25.71% Compare
GWRS Global Water Resources, Inc. $231.5M 101× 61.9× +5.04% (above 0%: growing) −50.00% (below 0%: shrinking) +100.41% (above 0%: growing) 72.47% 14.68% Compare
Median of peers $807.1M 21.3× 20.8× +9.30% +14.03% +51.22% 75.96% 26.90%

All 12 Utilities Regulated Water stocks →

Pay and ownership Proxy statement filed 22 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.22m 1.50m 325.36
2024 1.46m 1.08m 234.48
2023 1.45m 2.55m 317.75
2022 1.33m 1.55m 129.70
2021 907.15k 841.38k 90.83
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Consolidated Water Co. Ltd. (CWCO) Latest News

26 Oct

Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

21 Oct

Impact 4 · · GlobeNewswire

19 Oct

Impact 3 · · Exec Edge
Impact 3 · · Zacks

13 Oct

Impact 3 · · Zacks

12 Oct

Impact 3 · · GlobeNewswire

28 Sep

Impact 3 · · Zacks
Impact 3 · · The Motley Fool

23 Sep

Impact 3 · · Zacks

17 Aug

Impact 3 · · The Motley Fool transcript

12 Aug

Impact 3 ·

11 Aug

Impact 3 · · MarketBeat transcript
Impact 3 · · Moby transcript

10 Aug

Impact 3 ·

31 Jul

Impact 3 ·

22 Jul

Impact 4 ·

24 Jun

Impact 4 · · GlobeNewswire

15 May

Impact 4 · · Simply Wall St.

12 May

Impact 4 · · Moby
Impact 3 · · MarketBeat
Impact 3 · · Zacks
Impact 3 · · InvestorsHub

11 May

Impact 4 · · Zacks
Impact 4 · · GlobeNewswire

20 Mar

Impact 4 · · GuruFocus.com

19 Mar

Impact 3 · · Simply Wall St.

18 Mar

Impact 3 · · The Motley Fool transcript

17 Mar

Impact 4 · · MarketBeat
Impact 4 · · Zacks
stockrow.com/CWCO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com