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California Water Service Group CWT

Utilities — Utilities Regulated Water
Insider Buys (last 12m)
Insider Buys alert about insiders buying in the last 12 month

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Insider Decisions

Total buys
0.02
Total sells
0.66
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — 1 — — — — — — — — —
Sell — — 1 — — 2 — 2 — — 1 1
Insider Ownership
0.00%

Capital & Financial Ratios

Market Cap
2,960.00
Revenue
1,054.38
Net Income
133.09
Free Cash Flow
(235.73)
Net Debt
1,588.40
Current Ratio
0.70
Debt/Equity
0.93
P/E ratio
21.25
P/S ratio
2.71
P/B ratio
1.58
Past 5Y EPS Growth
19.95%
This Y EPS Growth
20.23%
Next Y EPS Growth
6.09%
Next 5Y EPS Growth
9.46%
in millions of $

Dividends

Payout Ratio
0.88
Annual Dividend Rate
1.03
Annual Dividend Yield
2.22%
total individual payouts
2028 ‡‡‡‡
2027 ‡‡‡‡‡
2026 1.34
—
—
—
2025 1.24
—
—
—
—
2024 1.12
—
—
—
—
2023 1.04
—
—
—
—
2022 1.00
—
—
—
—
2021 0.92
—
—
—
—
2020 0.85
—
—
—
—
2019 0.79
—
—
—
—
2018 0.75
—
—
—
—
2017 0.72
—
—
—
—
2016 0.69
—
—
—
—
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 84.97 95.69 97.37 89.14
Receivables 140.02 148.48 177.84 211.76
Inventory 16.17 20.51 19.78 18.33
Other 37.00 39.72 39.67 56.70
296.29 324.14 354.43 407.19
2023 2024 2025 Q'26
Payables 178.85 190.18 201.19 295.68
ST’ Debt 180.67 277.42 132.27 205.59
Other — — — —
430.34 538.36 418.16 580.67
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 214.57 308.60 — —
—
’25 203.97 264.95 311.24 219.98
1,000.14
’24 270.75 244.30 299.56 222.20
1,036.81
’23 131.10 194.04 254.98 214.51
794.63
’22 172.99 206.19 266.31 200.94
846.43
’21 147.74 213.12 256.72 173.33
790.91
’20 125.56 175.48 304.11 189.15
794.31
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 49.39 63.60 — —
—
’25 38.42 48.95 167.29 47.91
302.56
’24 26.52 94.42 101.84 68.09
290.87
’23 20.97 16.55 105.99 74.31
217.82
’22 54.19 35.72 109.93 43.93
243.77
’21 29.98 37.67 111.51 52.56
231.72
’20 4.07 15.94 76.66 21.26
117.92
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 (80.07) (83.38) — —
—
’25 (71.68) (70.47) 32.11 (104.38)
(214.43)
’24 (83.29) (10.18) (16.16) (70.30)
(179.93)
’23 (61.11) (78.66) 9.15 (38.12)
(168.75)
’22 (14.48) (46.51) 32.43 (63.18)
(91.75)
’21 (36.84) (34.03) 42.28 (32.78)
(61.37)
’20 (61.20) (52.33) (11.06) (56.13)
(180.73)
in millions of $

EPS

Mar Jun Sep Dec Year
’26 0.07 0.93 — —
—
’25 0.22 0.71 1.03 0.19
2.15
’24 1.21 0.70 1.03 0.33
3.25
’23 (0.40) 0.17 0.60 0.52
0.91
’22 0.02 0.36 1.03 0.35
1.77
’21 (0.06) 0.75 1.20 0.07
1.96
’20 (0.42) 0.11 1.94 0.31
1.97

Target Price Range

High
‡‡‡‡‡
‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

1.3
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 48.46 45.44 43.50 41.29 — — —
Low Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 71.96 63.92 56.25 51.63 — — —
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,225 1,266 1,278 1,336 — — —
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.69 0.63 0.81 0.75 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 846.43 794.63 1,036.81 1,000.14 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 66.30% 63.69% 70.04% 67.78% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 95.26 51.38 190.09 127.85 — — —
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 11.25% 6.47% 18.33% 12.78% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 95.26 51.38 190.09 127.85 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 117.73 123.39 134.39 146.80 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 15.58 13.95 17.69 16.79 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡ ‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ 1.77 0.91 3.26 2.15 ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.49 3.82 4.96 5.08 — — —
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (6.18) (6.79) (8.03) (8.68) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (1.69) (2.96) (3.07) (3.60) — — —
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 24.34 25.11 27.95 28.40 — — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 54.32 56.95 58.61 59.57 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 34.92 58.30 13.86 20.15 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.97 3.72 2.56 2.58 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.54 2.07 1.62 1.53 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 5.20 5.16 3.80 4.09 ‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (47.93) (24.32) (21.91) (19.06) — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 243.77 217.82 290.87 302.56 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (335.52) (386.56) (470.80) (516.99) ‡‡‡‡‡ ‡‡‡‡‡ —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (91.75) (168.75) (179.93) (214.43) — — —
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.89 (134.05) (214.23) (63.74) — — —
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,125.80 1,233.44 1,381.99 1,604.24 — — —
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,040.77 1,148.47 1,286.31 1,506.87 — — —
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,322.39 1,430.31 1,638.29 1,691.98 — — —
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.43% 1.17% 3.90% 2.36% — — —
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.38% 1.87% 4.81% 3.33% — — —
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.70% 3.77% 12.44% 7.70% — — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

California Water Service Group (CWT), a resilient regulated water utility serving California and select states, delivered a blockbuster 2024 with net income soaring 270% to $190 million from $51 million in 2023, driven by rate case wins, operational leverage, and margin expansion to 70%. Revenue grew at a 7% CAGR to $1.037 billion since 2016, with revenue per share up 39% despite share dilution, and efficiency metrics like revenue per employee hitting a peak of $811,000. Despite chronic negative free cash flow from surging capex ($471 million in 2024), improving ROE (12.4%) and ROIC (4.8%) underscore efficient capital deployment amid infrastructure mandates.

The stock trades at undervalued multiples—PE at 13.9x, PS at 2.6x—implying 5-18% upside to analyst targets (average 12%), a bargain versus historical norms and peers. Projections show revenue stabilizing at $1.013 billion in 2025 before accelerating to $1.110 billion by 2027, with EPS rising 9% annually to $2.66 and net income to $162 million, fueled by rate hikes, acquisitions, and population growth.

Regulatory tailwinds from PFAS rules and federal infrastructure funding offset risks like capex escalation to $675 million in 2026, climate volatility, and rate delays, positioning CWT for 10-15% annualized total returns through 2027—ideal for income investors seeking stability and catch-up potential.

Read full commentary →

California Water Service Group (CWT) Latest News

News by impact score

Fine-tune

15 Sep

3 , 12:38 PM
Rising water demand may support California Water Service Group's long-term growth prospects. Rising demand creates moderately noticeable influence on California Water Service Group's growth trajectory and market performance.

11 Sep

4 , 12:38 PM
California Water Service Group unit gains regulatory approval for rate hike to recover infrastructure investments. Rate hike approval allows direct revenue recovery from infrastructure costs, strengthening financial performance and trajectory.

10 Sep

3 , 4:15 PM
WUTC approves Washington Water's application to recover costs for investments in safe and reliable service. Rate case approval supports cost recovery and financial performance for Washington operations.

31 Aug

3 , 1:00 PM
Questions persist on whether customer growth will support Essential Utilities long-term earnings. Earnings outlook analysis tied to customer trends can moderately shift investor views on utilities performance.

13 Aug

3 , 8:17 PM
California Water Service Group (CWT) draws renewed market attention amid regulatory developments and infrastructure investments in its core water utility operations. Regulatory and infrastructure updates may moderately influence CWT financial performance and competitive positioning without fundamentally altering long-term trajectory.

7 Aug

3 , 12:12 PM
California Water Service Group beat Q2 earnings estimates due to water rate increases, with revenues rising year over year. Rate increases and revenue growth point to stronger quarterly results but represent routine utility adjustments.

4 Aug

3 transcript www.fool.com, 9:36 AM
California Water Service Group (CWT) released Q2 2026 earnings call transcript covering quarterly financial results, operations and outlook. Earnings call delivers financial metrics and guidance that moderately shape near-term investor sentiment for CWT.

31 Jul

4 , 10:07 AM
California Water Service Group won its rate case and announced record capital expenditures, enabling higher revenues and expanded infrastructure investments that support shareholder returns. Rate case win directly lifts allowed revenues while record capex enlarges the rate base and future earnings potential.

3 , 8:51 AM
California Water Service Group beat Q2 earnings expectations due to rate case catch-up and higher usage. Q2 earnings beat signals improved financial results from regulatory and usage factors without altering long-term operations.

3 transcript www.marketbeat.com, 2:03 AM
California Water Service Group Q2 earnings call covered financial performance, revenue figures, and management commentary on operations and outlook. Q2 earnings highlights deliver financial and operational updates that moderately shape investor views on company trajectory.

30 Jul

4 , 7:01 PM
California Water Service Group reported record capital expenditures in its Q2 2026 earnings call, underscoring major infrastructure investments aimed at supporting long-term growth and service reliability. Record CapEx signals major infrastructure spending that will expand capacity and strengthen future revenue streams.

3 transcript www.fool.com, 11:53 PM
California Water Service (CWT) released its Q2 2026 earnings call transcript. Q2 2026 earnings call delivers financial results and outlook that moderately affect investor views and stock movement.

3 transcript app.moby.co, 11:41 PM
California Water Service Group Q2 2026 earnings call covered financial results, revenue, expenses and operational outlook for the utility. Quarterly earnings results can moderately shift near-term investor sentiment and valuation for CWT.

29 Jul

4 , 8:44 PM
California Water Service Group reported strong second quarter 2026 financial results. Strong quarterly results point to improved financial performance and positive market sentiment for California Water Service Group.

17 Jul

3 , 1:04 PM
California Water Service Group's infrastructure investments may drive long-term earnings growth. CWT infrastructure investments may moderately enhance earnings trajectory.

4 Jun

3 Simply Wall St., 8:12 AM
California Water Service (CWT) missed earnings, announced the Nexus Deal and received a rate decision, triggering investor reactions. Earnings miss, Nexus deal and rate decision indicate moderate effects on CWT financials and operations.

13 May

3 GlobeNewswire, 4:15 PM
TIME magazine named California Water Service Group (CWT) one of the World’s Most Impactful Companies for its contributions to sustainability and water management. TIME's accolade highlights CWT's impactful sustainability efforts, potentially enhancing investor sentiment and competitive positioning in the utility sector.

5 May

3 Simply Wall St., 3:22 PM
California Water Service Group (CWT) stock dropped 7.3% after profit margins compressed despite higher sales. Profit margin compression despite sales growth triggered a 7.3% stock decline, moderately impacting financial performance and investor sentiment.

1 May

3 Zacks, 9:01 AM
California Water Service Group (CWT) Q1 earnings missed analyst estimates due to higher operating costs. Q1 earnings miss driven by higher costs moderately impacts financial performance and short-term investor sentiment.

3 www.marketbeat.com, 6:20 AM
California Water Service Group (CWT) released Q1 earnings call highlights covering financial results, operational updates, and forward guidance. Q1 earnings highlights detail financial performance and outlook with moderately noticeable influence on CWT's trajectory.

30 Apr

4 GlobeNewswire, 7:15 PM
California Public Utilities Commission issues decision in California Water Service’s 2024 General Rate Case and Infrastructure Improvement Plan. CPUC decision authorizes rates and infrastructure spending, significantly impacting CWT's revenue and future capex.

4 transcript www.fool.com, 12:10 PM
Cal Water (CWT) Q1 2026 earnings call transcript details first-quarter financial results, operational updates, and management's outlook. Q1 earnings call transcript discloses financial performance and guidance that significantly influence CWT's stock price and future trajectory.

3 app.moby.co, 12:46 PM
California Water Service Group released Q1 2026 earnings call summary detailing financial results, operational updates, and future outlook. Quarterly earnings summaries provide key financial metrics and guidance influencing short-to-medium term performance and sentiment.

29 Apr

4 GlobeNewswire, 9:30 PM
California Water Service Group reported first quarter 2026 financial results and provided an update on its 2024 California General Rate Case. Q1 2026 earnings release combined with a major regulatory rate case update will significantly affect revenue approvals and financial trajectory.

3 GlobeNewswire, 4:05 PM
California Water Service Group Board of Directors declares 325th consecutive quarterly dividend. 325th consecutive quarterly dividend declaration reinforces financial stability and boosts investor sentiment without altering core operations.

20 Apr

3 , 10:43 AM
California Water Service Group (CWT) merits addition to investor portfolios due to strong fundamentals, stable dividends, regulatory support, and growth prospects in water utility sector. Bullish investment recommendation highlights operational strengths and dividends, poised for moderate positive effect on sentiment and performance.

22 Mar

4 Simply Wall St., 10:03 AM
California’s new multi-year rate framework redefines regulated revenues for water utilities including California Water Service (CWT), prompting debate on whether investors must act amid potential shifts in revenue stability and financial planning. Regulatory overhaul of multi-year rate framework directly reshapes CWT's revenue recognition and long-term financial outlook.

17 Mar

4 GlobeNewswire, 6:58 PM
California Water Service Group received a proposed decision on its 2024 California General Rate Case. The proposed decision on the 2024 general rate case could substantially impact CWT's authorized revenues, financial projections, and stock performance.

4 Zacks, 11:54 AM
California Water Service Group (CWT) 2025 earnings missed estimates, with revenues decreasing year-over-year. Earnings miss and year-over-year revenue decline directly harm CWT's financial results and investor sentiment.

12 Mar

3 Zacks, 10:37 AM
American Water's California unit received regulatory approval for a rate hike, enabling funding for ongoing infrastructure investments. Rate hike approval provides moderate financial uplift for operations and investments but is limited to one unit.
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