California Water Service Group (CWT) is a Utilities stock trading at $49.53 (as of 2026-08-21), with a market capitalization of $3.06B and a trailing P/E of 23.0. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection. It offers its services to approximately 494,500 customer connections in 100 California communities; approximately 6,200 water and wastewater customer connections on the islands of Maui and Hawaii; approximately 36,400 customer connections in the Tacoma, Olympia, Graham, Spanaway, Puyallup, and Gig Harbor areas; and approximately 8,600 water and wastewater customer connections in the Belen, Los Lunas, Indian Hills, and Elephant Butte areas in New Mexico. The company also engages in the provision of non-regulated water-related services, including operating of municipally owned water systems, privately owned water, and recycled water distribution systems; water system operation, meter reading, and billing services to private companies and municipalities; leasing of communication antenna sites on its properties to telecommunication companies; and billing of optional third-party insurance programs to its residential customers, as well as provides lab services. In addition, it offers wastewater collection and treatment services. The company was founded in 1926 and is headquartered in San Jose, California.
California Water Service Group provides water utility services, including producing, purchasing, storing, treating, testing, distributing, and selling water for domestic, industrial, public, and irrigation uses, plus fire protection, and it makes money by charging customers through regulated rate programs and related revenue adjustment mechanisms.
Because it is a regulated water utility, changes in operating results are structurally driven by customer charges flowing through rate decisions and regulatory “memorandum account” and revenue mechanisms (for example DREMA, WRAM and MCBA, MWRAM, and interim rates memorandum account revenue), which can also be affected by delays and adjustments such as revenue deferral and unbilled revenue accrual movements.
Business quality (Weak): Moderate, the business description and regulatory revenue mechanisms are clear, but the provided data does not include a clean breakdown into official reportable segments, and the operating KPI options are mostly revenue mechanism line items rather than a single standard utility operating metric.
Valuation: At 23× earnings, CWT trades in line with the Utilities average (22×). Note: one-time items can distort reported P/E.
| Price | $49.53 |
| Market Cap | $3.06B |
| P/E Ratio | 23.0 |
| EV / EBITDA | 9.7 |
| Price / Book | 1.69 |
| Price / Sales | 3.06 |
| DCF Value (model) | $155.74 |
| DCF Upside vs Price | 214.4% |
| Revenue (TTM) | $963.70M |
| Net Margin | 13.3% |
| Revenue Growth (YoY) | 8.5% |
| EPS Growth (YoY) | 32.4% |
| Altman Z-Score | 0.88 (distress) |
| Stock P/E | 23.0 |
| Sector P/E (Utilities) | 20.8 |
| Industry P/E (Utilities) | 20.1 |
| vs Sector | 10.3% |
| vs Industry | 14.5% |
| Top Institutional Holder | BlackRock, Inc. ($467.39M) |
| Institutional Holders Tracked | 10 |
| Sector | Utilities |
| Industry | Utilities |
| CEO | Martin A. Kropelnicki |
| Employees | 1,278 |
| Country | US |
| IPO Date | 1990-03-26 |
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.