American States Water Company (AWR) Stock

American States Water Company (AWR) is a Utilities stock trading at $88.69 (as of 2026-08-21), with a market capitalization of $3.52B and a trailing P/E of 24.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

American States Water Company and its subsidiaries provide water and electricity services in the United States, with operations organized into Water, Electric, and Contracted Services. It serves residential, commercial, industrial, and other customers and also provides water or wastewater services, including operation and maintenance of facilities at certain military installations.

Understand American States Water Company: how it makes money

American States Water Company provides water and electric utility services in the United States, generating revenue by purchasing, producing, distributing, and selling water and distributing electricity, plus providing contracted services through its Water, Electric, and Contracted Services segments.

Its profit model is structurally driven by how much operating revenue it earns from its core Water segment (where it serves customers across California counties), with Electric distribution and Contracted Services as additional revenue streams.

Revenue by segment (latest quarter)
Water$0.1B
Electric$0.0B
Contracted$0.0B

Business quality (Solid): Clear, three-segment operating structure (Water, Electric, Contracted Services) with segment operating revenues and customer connections as practical operating checkpoints.

Valuation: At 23× earnings, AWR trades in line with the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

  • Core revenue engine is Water: The Water segment is the largest reported operating revenue contributor (Water segment operating revenues of 0.11B).
  • Scale of customer base: It reports Water customer connections of 264600 (connections served across 10 counties in California).

Bear case

  • Contracted Services is smaller and can be volatile: Contracted Services segment operating revenues are smaller than Water and a revenue decrease is indicated for Contracted Services (candidate shows Contracted Services revenue decrease of 0.01B).
  • Geographic concentration in California service areas: Its disclosed water service footprint is within 10 counties in California, and its disclosed electric distribution is within San Bernardino County mountain communities.
Valuation — source: SEC EDGAR (first-party)
Price$88.69
Market Cap$3.52B
P/E Ratio24.4
EV / EBITDA15.1
Price / Book3.13
Price / Sales5.00
FCF Yield2.6%
DCF Value (model)$57.63
DCF Upside vs Price-35.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$658.07M
Net Margin19.8%
Revenue Growth (YoY)14.8%
EPS Growth (YoY)-1.3%
FCF Growth (YoY)-696.4%
Financial Health — source: SEC EDGAR
Altman Z-Score2.08 (grey)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Stock P/E24.4
Sector P/E (Utilities)20.8
Industry P/E (Utilities)20.1
vs Sector16.8%
vs Industry21.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)1
Top Institutional HolderBlackRock, Inc. ($518.89M)
Institutional Holders Tracked10
Company
SectorUtilities
IndustryUtilities
CEORobert J. Sprowls
Employees517
CountryUS
IPO Date1973-02-21

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

  • American Water Works Company, Inc. (AWK)
  • Essential Utilities, Inc. (WTRG)
  • California Water Service Group (CWT)
  • H2O America (HTO)
  • Cadiz Inc. (CDZIP)
  • Middlesex Water Company (MSEX)
  • The York Water Company (YORW)
  • Artesian Resources Corporation (ARTNA)
AWR earnings history · AWR institutional & insider holders · AWR KPIs & operating metrics · AWR financials · AWR investor presentations & press releases · AWR SEC filings · AWR peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.