Loading company financials…
NASDAQ NMS - GLOBAL MARKET · Utilities · CIK 0000766829
$58.66
+4.41% · live
Updated
$2.12B market value
From H2O AMERICA's FY2025 10-K, filed Feb 26, 2026 · read the filing
H2O AMERICA supplies electricity, gas or water. It took in $805.6M last year, which makes it a smaller company. Of every dollar it sells, about 13 cents is left as profit.
The financial picture is led by profitability, with growth worth watching, while debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score 0.94
Recent open-market selling by ATLAS Infrastructure Partners (UK) Ltd., not under a pre-arranged plan.
$102.4K sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From H2O AMERICA's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Cash
$11.1M → $20.7M
Shares in issue
33.6M → 36.1M
Revenue
$736.3M → $805.6M
Profit
$94.0M → $102.6M
Measured against FY2024, from the 10-K filed Feb 26, 2026
Improved: +86.1%
$11.1M to $20.7MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
How the latest move compares (quote live), and what was published around it
HTO rose 4.41% on the latest quote. The average Utilities company tracked here moved +1.72%, and the S&P 500 −1.04%. That is 2.7 points above its sector and 5.5 points above the market.
No filing from HTO and no news item about it appeared in the last 3 days.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
Loading price history…
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 12 analysts covering this company, as of . Their views, not this site's.
Of 12 analysts publishing on this company, 4 say strong buy, 5 say buy and 3 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 13 cents of every dollar of sales as profit, earning $102.6M last year.
Slowly. Sales grew 9.4% last year.
Yes. Clearing its debt would take roughly 7.6 years of cash flow. For every $1 it owes, it owns $1.43 in assets. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 57 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 24% of the cash its operations generated. It has paid in each of the last 12 years.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $102.6M and generated $244.8M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 26, 2026Filing for FY2025 | FY202410-K · Feb 26, 2026Filing for FY2024 | FY202310-K · Feb 23, 2024Filing for FY2023 | FY202210-K · Feb 23, 2024Filing for FY2022 | FY202110-K · Feb 28, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $805.6M | $736.3M | $678.2M | $586.9M | $559.6M | +9.4% |
| Selling, general and administrative | $126.0M | $105.8M | $98.7M | $95.4M | $87.3M | +19.1% |
| Operating income | $177.5M | $170.5M | $149.4M | $131.0M | $111.2M | +4.1% |
| Operating marginOperating income ÷ revenueWhat is this? | 22.0% | 23.2% | 22.0% | 22.3% | 19.9% | −1.1 pts |
| Interest expense | $72.6M | $71.4M | $66.1M | $58.1M | $54.3M | +1.7% |
| Income before tax | $114.9M | $102.9M | $90.9M | $82.3M | $68.8M | +11.7% |
| Net income | $102.6M | $94.0M | $85.0M | $73.8M | $60.5M | +9.2% |
| Net marginNet income ÷ revenueWhat is this? | 12.7% | 12.8% | 12.5% | 12.6% | 10.8% | −0.0 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $2.84 | $2.79 | $2.65 | $2.40 | $2.00 | +1.6% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| HTOH2O AMERICA · this page | 6.0/10 | 5/8 | 9.4% | 12.7% | 20.65x | 2.34x |
| AWK |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Had shares withheld to cover taxes — 1,154 shares at $61.97 ($71.5K)
Holds 13,631 shares after this filing.
Bought on the open market — 2,784 shares at $62.03 ($172.7K)
Holds 4,615,265 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Completed an acquisition or disposal · Made a Regulation FD disclosure
Read the filingQuarterly report on Form 10-Q
Read the filingWrite down why you are following H2O AMERICA, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 13 subsidiaries named in its 10-K, incorporated across 6 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from HTO's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 26, 2026), reported under the US GAAP taxonomy. View the source filing. Total liabilities were not tagged directly and were calculated as assets minus equity.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 6.0 | 5/8 | 10-K, filed Feb 26, 2026 |
| FY2024 | 6.0 | 6/8 | 10-K, filed Feb 28, 2025 |
| FY2023 | 7.3 | 5/8 | 10-K, filed Feb 23, 2024 |
| FY2022 | 6.0 | 6/8 | 10-K, filed Feb 24, 2023 |
| FY2021 | 6.0 | 4/8 | 10-K, filed Feb 28, 2022 |
| FY2020 | 7.3 | 7/8 | 10-K, filed Mar 1, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
5 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
0.94
In the distress zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: +7.4%
33.6M to 36.1MSignificant
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Improved: +9.4%
$736.3M to $805.6MNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +9.2%
$94.0M to $102.6MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −1.1 pts
23.2% to 22.0%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: +9.4%
$1.71B to $1.87BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Changed: +12.5%
$52.1M to $58.6MNotable
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Q1 FY2026 against Q1 FY2025, from the 10-Q filed Apr 29, 2026 — read it.
Improved: +545.7%
$23.7M to $153.0MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +22.4%
34.2M to 41.8MCritical
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Improved: +8.8%
$164.9M to $179.3MNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +14.9%
$16.6M to $19.0MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: -6.1%
$0.48 to $0.45Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +10.3%
$1.69B to $1.87BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Changed: +12.5%
$14.1M to $15.9MNotable
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
3 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 5.6% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 20.1x — investors pay $20.1 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
| 4.7/10 |
| 8/8 |
| 10.1% |
| 21.7% |
| 25.13x |
| 2.27x |
| Median of peers | 4.7/10 | — | 10.1% | 21.7% | 25.13x | 2.27x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Had shares withheld to cover taxes — 88 shares at $60.74 ($5.3K)
Holds 9,976 shares after this filing.
Shares were sold back to the company — 374 shares at $60.74 ($22.7K)
Holds 26,461 shares after this filing.
Sold on the open market — 1,686 shares at $60.73 ($102.4K)
Holds 4,610,349 shares after this filing.
Bought on the open market — 2,132 shares at $60.76 ($129.5K)
Holds 4,612,481 shares after this filing.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Published results
Had a director or senior officer leave or join
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Revenue +8.8% · Cash +545.7% · Shares in issue +22.4% — against Q1 FY2025
Read the filingPublished results
Read the filingProxy statement for a shareholder meeting
Read the filingSigned a material agreement · Made a Regulation FD disclosure · Reported another event
Read the filingAttached financial statements or exhibits
Read the filingAnnual report for FY2025
Revenue +9.4% · Operating margin −1.1 pts · Cash +86.1% — against FY2024
Read the filingPublished results
Read the filingReported another event
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q3 FY2025
Revenue +12.4% · Cash +185.2% · Profit +16.8% — against Q3 FY2024
Read the filingPublished results
Read the filingSigned a material agreement
Read the filingQuarterly report for Q2 FY2025
Revenue +14.3% · Operating margin −1.3 pts · Profit +19.2% — against Q2 FY2024
Read the filingPublished results
Read the filingSigned a material agreement · Made a Regulation FD disclosure
Read the filingSource: Exhibit 21 of the 10-K filed 2026-02-26. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
Coverage from the last 30 days
Barclays Maintains Overweight on H2O America, Lowers Price Target to $65
Benzinga ·
H2O America (HTO) Stock Looks Stretched After Its 19% One Year Run
Yahoo ·
H2O America to Report Third Quarter 2026 Financial Results on October 26
Yahoo ·
Is Concrete Pumping Holdings (BBCP) Outperforming Other Business Services Stocks This Year?
Yahoo ·
H2O America Completes Texas Subsidiary’s Acquisition of Quadvest
Yahoo ·
Barclays Maintains Overweight on H2O America, Lowers Price Target to $66
Benzinga ·
Best Dividend Kings: September 2026
SeekingAlpha ·
Primary sources and further research