California Water Service Group
CWT Utilities Utilities Regulated Water
In the quarter to June 2026, revenue grew 16.5%, EPS grew 32.4%, free cash flow fell 18.3% and total debt rose 9.18%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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California Water Service Group (CWT) Altman Z-score
California Water Service Group's Altman Z-score for fiscal 2025 is 0.83, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 0.83 | (0.10) |
| FY2024 | 0.93 | 0.01 |
| FY2023 | 0.92 | (0.23) |
| FY2022 | 1.15 | (0.30) |
| FY2021 | 1.45 | 0.36 |
| FY2020 | 1.09 | 0.00 |
| FY2019 | 1.09 | (0.07) |
| FY2018 | 1.16 | 0.08 |
| FY2017 | 1.08 | 0.03 |
| FY2016 | 1.06 | 0.09 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.01) | — | −0.01 | |
| Retained earnings / total assets | 0.13 | — | 0.18 | |
| EBIT / total assets | 0.03 | — | 0.10 | |
| Market value of equity / total liabilities | 0.65 | — | 0.39 | |
| Sales / total assets | 0.18 | — | 0.18 | |
| Altman Z-score | Distress zone | 0.83 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.99 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| CWCO Consolidated Water Co. Ltd. compare | 13.0× |
| AWR American States Water Company compare | 1.8× |
| MSEX Middlesex Water Company compare | 1.1× |
| YORW The York Water Company compare | 1.1× |
| WTRG Essential Utilities Inc. compare | 0.9× |
| CWT California Water Service Group | 0.8× |
| ARTNA Artesian Resources Corporation compare | 0.7× |
| HTO H2O America compare | 0.7× |
| SBS Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets