AWR American States Water Company Common Stock
NYSE · Utilities · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$82.82
· of 52w range
· above low
· to high
$69.4552w low
$91.7252w high
Market Cap (MRQ)
$3.28B
P/E (TTM)
22.7
EPS (TTM)
$3.65
Revenue (TTM)
$697M
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52W Range
$69–$92
Analyst Rating
SELL
Price Target
$84
P/E
22.7
ROE
13.7%
Net Profit Margin
20.5%
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AWR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$82.82
Market Cap (MRQ)
$3.28B
P/E (TTM)
22.7
EPS (TTM)
$3.65
Revenue (TTM)
$697M
Div Yield
2.3%
ROE (TTM)
13.7%
Debt/Equity (MRQ)
0.6
52W Range
$69–$92
AWR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Sept. 4, 2013 | 2-for-1 | Forward |
| June 10, 2002 | 3-for-2 | Forward |
| Oct. 6, 1993 | 2-for-1 | Forward |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$658M2022-12-31 → 2025-12-31
EPS$3.372022-12-31 → 2025-12-31
Free Cash Flow$-7M2022-12-31 → 2025-12-31
Net margin20.5%2022-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | AWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 22.75Y avg ≈23.3 | ≈23.3 | 21.5 | Overvalued | |
| P/S (TTM) | 4.75Y avg ≈4.8 | ≈4.8 | 5.5 | Undervalued | |
| P/B (MRQ) | 2.95Y avg ≈3.3 | ≈3.3 | 1.9 | Overvalued | |
| EV / EBITDA | 15.95Y avg ≈14.9 | ≈14.9 | 14.3 | Fair value | |
| Price / FCF (TTM) | 158.25Y avg ≈-171.1 | ≈-171.1 | · | · | |
| Price / Cash Flow (TTM) | 13.95Y avg ≈23.7 | ≈23.7 | 14.1 | Fair value | |
| EV / Revenue | 6.15Y avg ≈5.8 | ≈5.8 | · | · | |
| EV / FCF | -564.15Y avg ≈-214.7 | ≈-214.7 | · | · | |
| Price / Tangible Book | 3.15Y avg ≈3.3 | ≈3.3 | · | · | |
| PEG Ratio | ≈3.0 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | AWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 31.8%5Y avg ≈31.6% | ≈31.6% | 30.2% | Top tier | |
| EBITDA Margin (TTM) | 39.0%5Y avg ≈38.9% | ≈38.9% | 34.4% | Top tier | |
| Pretax Margin (TTM) | 27.0%5Y avg ≈26.3% | ≈26.3% | 29.7% | Top tier | |
| Net Profit Margin (TTM) | 20.5%5Y avg ≈20.3% | ≈20.3% | 22.4% | In line | |
| ROA (TTM) | 5.3%5Y avg ≈5.2% | ≈5.2% | 3.1% | Top tier | |
| ROE (TTM) | 13.7%5Y avg ≈14.1% | ≈14.1% | 9.0% | Top tier | |
| ROIC | 8.5%5Y avg ≈9.6% | ≈9.6% | 5.8% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | AWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.65Y avg ≈0.7 | ≈0.7 | 0.7 | In line | |
| Current Ratio (MRQ) | 1.05Y avg ≈1.1 | ≈1.1 | 1.0 | In line | |
| Quick Ratio | 0.35Y avg ≈0.3 | ≈0.3 | 0.4 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.65Y avg ≈0.7 | ≈0.7 | 0.8 | Low debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | AWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 10.5%5Y avg ≈10.6% | ≈10.6% | · | · | |
| Revenue CAGR 3Y | 10.2%5Y avg ≈7.7% | ≈7.7% | · | · | |
| Revenue CAGR 5Y | 6.2% | · | · | · | |
| EPS YoY | 6.3%5Y avg ≈20.0% | ≈20.0% | · | · | |
| Net Income YoY | 9.4%5Y avg ≈21.4% | ≈21.4% | · | · | |
| EPS CAGR 3Y | 16.9%5Y avg ≈12.5% | ≈12.5% | · | · | |
| EPS CAGR 5Y | 7.7% | · | · | · | |
| Net Income CAGR 3Y | 18.5%5Y avg ≈13.2% | ≈13.2% | · | · | |
| Net Income CAGR 5Y | 8.6% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | AWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.35Y avg ≈0.3 | ≈0.3 | 0.1 | Top tier | |
| Receivables Turnover | 17.35Y avg ≈17.9 | ≈17.9 | 12.4 | Top tier | |
| Revenue / Employee | ≈$731.2K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield2.3%
Payout Ratio57.2%
Annualized Payout≈$2.18
5Y Div CAGR≈8.7%
Growth Streak≈37
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 17, 2026 | $0.55 | USD | ≈2.3% |
| May 18, 2026 | $0.50 | USD | ≈2.7% |
| Feb 23, 2026 | $0.50 | USD | ≈2.7% |
| Nov 14, 2025 | $0.50 | USD | ≈2.6% |
| Aug 15, 2025 | $0.50 | USD | ≈2.5% |
| May 19, 2025 | $0.47 | USD | ≈2.3% |
| Feb 18, 2025 | $0.47 | USD | ≈2.4% |
| Nov 15, 2024 | $0.47 | USD | ≈2.1% |
| Aug 16, 2024 | $0.47 | USD | ≈2.1% |
| May 17, 2024 | $0.43 | USD | ≈2.2% |
| Feb 16, 2024 | $0.43 | USD | ≈2.2% |
| Nov 14, 2023 | $0.43 | USD | ≈2.0% |
| Aug 14, 2023 | $0.43 | USD | ≈1.8% |
| May 18, 2023 | $0.40 | USD | ≈1.8% |
| Feb 17, 2023 | $0.40 | USD | ≈1.7% |
| Nov 14, 2022 | $0.40 | USD | ≈1.6% |
| Aug 12, 2022 | $0.40 | USD | ≈1.7% |
| May 13, 2022 | $0.37 | USD | ≈1.9% |
| Feb 14, 2022 | $0.37 | USD | ≈1.7% |
| Nov 12, 2021 | $0.37 | USD | ≈1.5% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
3.5%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 11, 2026 | $1.09 | $0.91 | 19.9% |
| March 31, 2026 | May 13, 2026 | $0.76 | $0.78 | -2.3% |
| Dec. 31, 2025 | $0.74 | $0.73 | 1.8% | |
| Sept. 30, 2025 | $1.06 | $1.02 | 4.4% | |
| June 30, 2025 | $0.87 | $0.92 | -5.6% | |
| March 31, 2025 | $0.70 | $0.68 | 2.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $658M | $595M | $596M | $492M | $499M | $488M | $474M | $437M | $441M | $436M | $459M | $466M | |
| Cost of Revenue | $61M | $55M | $58M | $53M | $57M | $62M | $56M | $54M | $50M | · | · | · | |
| SG&A Expense | $103M | $101M | $88M | $86M | $84M | $84M | $83M | $83M | $82M | $82M | $80M | $78M | |
| Operating Expenses | · | · | · | · | · | · | $347M | $336M | $314M | $322M | $340M | $347M | |
| Operating Income | $203M | $184M | $197M | $127M | $141M | $130M | $127M | $101M | $127M | $114M | $118M | $119M | |
| Interest Expense | · | · | $43M | $27M | $23M | $23M | $25M | $23M | $23M | $22M | $21M | $22M | |
| Interest Income | $6M | $8M | $7M | $2M | $1M | $2M | $3M | $4M | $2M | $757.0K | $458.0K | $927.0K | |
| Other Non-op | $8M | $7M | $5M | $125.0K | $5M | $5M | $3M | $760.0K | $2M | $2M | $356.0K | $751.0K | |
| Pretax Income | $170M | $149M | $167M | $102M | $125M | · | · | $82M | $108M | $94M | $98M | $99M | |
| Income Tax | $39M | $30M | $42M | $24M | $30M | $28M | $25M | $18M | $39M | $35M | $38M | $38M | |
| Net Income | $130M | $119M | $125M | $78M | $94M | $86M | $84M | $64M | $69M | $60M | $60M | $61M | |
| EPS (Basic) | $3.37 | $3.17 | $3.37 | $2.12 | $2.55 | $2.34 | $2.28 | $1.73 | $1.88 | $1.63 | $1.61 | $1.57 | |
| EPS (Diluted) | $3.37 | $3.17 | $3.36 | $2.11 | $2.55 | $2.33 | $2.28 | $1.72 | $1.88 | $1.62 | $1.60 | $1.57 | |
| Shares (Basic) | 38,550,000 | 37,464,000 | 36,976,000 | 36,955,000 | 36,921,000 | 36,880,000 | 36,814,000 | 36,733,000 | 36,638,000 | 36,552,000 | 37,389,000 | 38,658,000 | |
| Shares (Diluted) | 38,673,000 | 37,583,000 | 37,077,000 | 37,039,000 | 37,010,000 | 36,995,000 | 36,964,000 | 36,936,000 | 36,844,000 | 36,750,000 | 37,614,000 | 38,880,000 | |
| EBITDA | $251M | $228M | $239M | $168M | $181M | $167M | $162M | $141M | $166M | $154M | $161M | $160M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $19M | $27M | $14M | $6M | $5M | $37M | $1M | $7M | $214.0K | $436.0K | $4M | $76M | |
| Receivables | $38M | $38M | $34M | $26M | $34M | $29M | $21M | $23M | $26M | $20M | $19M | $19M | |
| Prepaid Expense | $8M | $7M | $6M | $5M | $5M | $6M | $5M | $6M | $6M | $4M | $3M | $3M | |
| Current Assets | $231M | $233M | $206M | $151M | $138M | $157M | $122M | $131M | $155M | $167M | $133M | $209M | |
| PP&E (Net) | $2.30B | $2.10B | $1.89B | $1.75B | $1.63B | $1.51B | $1.42B | $1.30B | $1.20B | $1.15B | $1.06B | $1.00B | |
| PP&E (Gross) | $2.95B | $2.44B | $2.28B | $2.18B | $2.05B | $1.93B | $1.84B | $1.78B | $1.67B | $1.62B | $1.53B | $1.46B | |
| Goodwill | · | · | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Intangibles | $3M | $4M | $5M | $5M | $4M | $6M | $6M | $6M | $8M | $10M | $9M | $11M | |
| Other Non-current Assets | $64M | $41M | $20M | $14M | $16M | $11M | $8M | $5M | $6M | $5M | $7M | $12M | |
| Total Assets | $2.72B | $2.50B | $2.25B | $2.03B | $1.90B | $1.79B | $1.64B | $1.50B | $1.42B | $1.47B | $1.34B | $1.38B | |
| Accounts Payable | $86M | $89M | $69M | $85M | $66M | $64M | $56M | $60M | $51M | $44M | $51M | $42M | |
| Accrued Liabilities | · | · | · | $5M | $5M | $5M | $3M | $4M | $4M | $4M | $4M | $4M | |
| Current Liabilities | $175M | $286M | $167M | $397M | $156M | $119M | $116M | $147M | $157M | $178M | $124M | $99M | |
| Capital Leases | $4M | $6M | $7M | $8M | $9M | $10M | $12M | $0 | · | · | · | · | |
| Deferred Tax | $194M | $180M | $162M | $150M | $140M | $131M | $125M | $114M | $116M | $225M | $193M | $191M | |
| Other Non-current Liabilities | $18M | $15M | $14M | $14M | $14M | $15M | $14M | $11M | $11M | $11M | $11M | $7M | |
| Long-term Debt | · | · | · | · | · | · | $281M | $321M | $321M | $321M | $321M | $326M | |
| Total Debt | $783M | $640M | $576M | $447M | $412M | $440M | $281M | $321M | $321M | $321M | $326M | $326M | |
| Common Stock | $425M | $355M | $263M | $260M | $258M | $257M | $256M | $254M | $250M | $247M | $245M | $253M | |
| Retained Earnings | $620M | $565M | $513M | $449M | $428M | $385M | $346M | $305M | $280M | $247M | $221M | $254M | |
| Stockholders' Equity | $1.05B | $920M | $776M | $710M | $686M | $642M | $602M | $558M | $530M | $494M | $466M | $507M | |
| Liabilities + Equity | $2.72B | $2.50B | $2.25B | $2.03B | $1.90B | $1.79B | $1.64B | $1.50B | $1.42B | $1.47B | $1.34B | $1.38B | |
| Shares Outstanding | 39,082,470 | 38,151,027 | 36,980,612 | 36,962,000 | 36,936,000 | 36,889,000 | 36,847,000 | 36,758,000 | 36,681,000 | 36,571,000 | 36,501,914 | 38,286,626 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $48M | $44M | $42M | $41M | $40M | $37M | $35M | $40M | $39M | $39M | $42M | $41M | |
| Stock-based Comp | $4M | $4M | $3M | $3M | $3M | $2M | $3M | $4M | $3M | $3M | $3M | $2M | |
| Deferred Tax | $4M | $2M | $5M | $3M | $4M | $2M | $7M | $-6M | $12M | $28M | $10M | $32M | |
| Amort. of Intangibles | $2M | $1M | $1M | $600.0K | $700.0K | $654.0K | $1M | $1M | $2M | $2M | $2M | $2M | |
| Other Non-cash | $44M | $30M | $-108M | $-7M | $-24M | $-6M | $-12M | $34M | $21M | $-32M | $-21M | $27M | |
| Operating Cash Flow | $230M | $199M | $68M | $118M | $116M | $122M | $117M | $137M | $145M | $97M | $95M | $163M | |
| CapEx | $237M | $232M | $189M | $166M | $145M | $130M | $152M | $127M | $113M | $130M | $87M | $73M | |
| Investing Cash Flow | $-238M | $-233M | $-189M | $-167M | $-145M | $-132M | $-153M | $-128M | $-80M | $-131M | $-90M | $-74M | |
| Debt Issued | · | · | $130M | $35M | $0 | $159M | $0 | $0 | · | $0 | $0 | $15M | |
| Net Debt Issued | $-454.0K | $-370.0K | $129M | $34M | $-28M | $159M | $-40M | $-326.0K | $-329.0K | $-313.0K | $-237.0K | $-6M | |
| Stock Issued | $67M | $89M | $0 | $0 | · | · | · | · | · | · | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | $0 | $0 | $73M | $17M | |
| Net Stock Activity | $67M | $89M | · | · | · | · | · | · | $0 | $0 | $-73M | $-17M | |
| Dividends Paid | $75M | $67M | $61M | $56M | $52M | $47M | $43M | $39M | $36M | $33M | $33M | $32M | |
| Financing Cash Flow | $-26.0K | $47M | $129M | $50M | $-2M | $45M | $31M | $-2M | $-65M | $30M | $-77M | $-51M | |
| Net Change in Cash | · | · | · | · | · | · | · | $7M | $-222.0K | $-4M | $-72M | $38M | |
| Taxes Paid | $35M | $28M | $35M | $27M | $29M | $14M | $22M | $21M | $14M | $11M | $15M | $16M | |
| Free Cash Flow | $-7M | $-33M | $-121M | $-48M | $-29M | $-8M | $-35M | $10M | $31M | $-33M | $8M | $91M | |
| Levered FCF | · | · | $-153M | · | · | · | · | $-8M | $17M | $-47M | $-5M | $77M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 30.9% | 31.0% | 33.0% | 25.8% | 28.3% | 26.7% | 26.8% | 23.1% | 28.8% | 26.3% | 25.8% | 25.6% | |
| Net Margin | 19.8% | 20.0% | 21.0% | 16.0% | 18.9% | 17.7% | 17.8% | 14.6% | 15.7% | 13.7% | 13.2% | 13.1% | |
| Pretax Margin | 25.8% | 25.1% | 28.0% | · | · | · | · | 18.8% | 24.6% | 21.7% | 21.4% | 21.3% | |
| EBITDA Margin | 38.1% | 38.3% | 40.1% | 34.2% | 36.2% | 34.3% | 34.3% | 32.4% | 37.7% | 35.2% | 35.0% | 34.4% | |
| ROA | 5.0% | 5.0% | 5.6% | 3.9% | 5.0% | 4.9% | 5.2% | 4.3% | 4.8% | 4.1% | 4.5% | 4.5% | |
| ROE | 12.9% | 13.3% | 16.2% | 11.1% | 13.8% | 13.6% | 14.1% | 11.5% | 13.6% | 12.4% | 12.4% | 12.2% | |
| ROIC | 8.5% | 9.4% | 10.9% | · | · | · | · | 8.9% | 9.6% | 8.9% | 9.2% | 8.8% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | 0.8 | 1.2 | 0.4 | 0.9 | 1.3 | 1.1 | 0.9 | 1.0 | 0.9 | 1.1 | 2.1 | |
| Quick Ratio | 0.3 | 0.2 | 0.3 | 0.1 | 0.3 | 0.6 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 1.0 | |
| Debt / Equity | 0.7 | 0.7 | 0.7 | 0.6 | 0.6 | 0.7 | 0.5 | 0.6 | 0.6 | 0.7 | 0.7 | 0.6 | |
| LT Debt / Equity | 0.7 | 0.7 | 0.7 | 0.6 | 0.6 | 0.7 | 0.5 | 0.5 | 0.6 | 0.6 | 0.7 | 0.6 | |
| Interest Coverage | · | · | 4.6 | 4.7 | 6.2 | 5.8 | 5.2 | 4.3 | 5.6 | 5.2 | 5.6 | 5.5 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | |
| Receivables Turnover | 17.3 | 16.6 | 19.7 | 16.2 | 15.7 | 19.5 | 21.4 | 17.6 | 19.1 | 22.4 | 24.3 | 21.8 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $26.75 | $24.12 | $20.99 | $19.20 | $18.57 | $17.39 | $16.33 | $15.19 | $14.49 | $13.52 | $12.76 | $13.24 | |
| Revenue / Share | $17.02 | $15.84 | $16.07 | $13.27 | $13.48 | $13.20 | $12.82 | $11.83 | $11.96 | $11.87 | $12.19 | $11.98 | |
| Cash Flow / Share | $5.94 | $5.29 | $1.83 | $3.18 | $3.12 | $3.30 | $3.16 | $3.70 | $3.92 | $2.64 | $2.53 | $4.20 | |
| Cash / Share | $0.48 | $0.70 | $0.38 | $0.16 | $0.13 | $1.00 | $0.04 | $0.19 | $0.01 | $0.01 | $0.12 | $1.98 | |
| Dividend / Share | $1.94 | $1.79 | $1.66 | $1.52 | $1.40 | $1.28 | $1.16 | $1.06 | $0.99 | $0.91 | $0.87 | $0.83 | |
| EPS (TTM) | $3.37 | $3.17 | $3.36 | $2.11 | $2.55 | $2.33 | $2.28 | $1.72 | $1.88 | $1.62 | $1.60 | $1.57 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 10.5% | -0.04% | 21.2% | -1.5% | 2.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 10.2% | 6.1% | 6.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 6.2% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 6.3% | -5.7% | 59.2% | -17.2% | 9.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 16.9% | 7.5% | 13.0% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 7.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 9.4% | -4.5% | 59.4% | -16.9% | 9.2% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 18.5% | 8.1% | 13.1% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 8.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 9.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $658M | $595M | $596M | $492M | $499M | $488M | $474M | $437M | $441M | $436M | $459M | $466M | |
| Net Income TTM | $130M | $119M | $125M | $78M | $94M | $86M | $84M | $64M | $69M | $60M | $60M | $61M | |
| Market Cap | $2.83B | $2.97B | $2.97B | $3.42B | $3.82B | $2.93B | $3.19B | $2.46B | $2.12B | $1.67B | $1.53B | $1.44B | |
| Enterprise Value | $3.60B | $3.58B | $3.54B | $3.86B | $4.23B | $3.34B | $3.47B | $2.78B | $2.44B | $1.99B | $1.85B | $1.69B | |
| P/E | 21.5 | 24.5 | 23.9 | 43.9 | 40.6 | 34.1 | 38.0 | 39.0 | 30.8 | 28.1 | 26.2 | 24.0 | |
| P/S | 4.3 | 5.0 | 5.0 | 7.0 | 7.7 | 6.0 | 6.7 | 5.6 | 4.8 | 3.8 | 3.3 | 3.1 | |
| P/B | 2.7 | 3.2 | 3.8 | 4.8 | 5.6 | 4.6 | 5.3 | 4.4 | 4.0 | 3.4 | 3.3 | 2.8 | |
| P / Tangible Book | 2.7 | 3.2 | 3.9 | 4.9 | 5.6 | 4.6 | · | · | · | · | · | · | |
| P / Cash Flow | 12.3 | 14.9 | 43.9 | 29.0 | 33.1 | 24.0 | 27.3 | 18.0 | 14.7 | 17.2 | 16.1 | 8.8 | |
| P / FCF | -399.4 | -89.2 | -24.6 | -70.6 | -132.1 | -355.4 | -91.0 | 241.3 | 67.4 | -50.6 | 195.8 | 15.9 | |
| EV / EBITDA | 14.3 | 15.7 | 14.8 | 23.0 | 23.4 | 19.9 | 21.4 | 19.6 | 14.7 | 12.9 | 11.5 | 10.6 | |
| EV / FCF | -507.1 | -107.7 | -29.3 | -79.7 | -146.1 | -404.3 | -99.0 | 272.1 | 77.6 | -60.4 | 236.9 | 18.7 | |
| EV / Revenue | 5.5 | 6.0 | 5.9 | 7.9 | 8.5 | 6.8 | 7.3 | 6.4 | 5.5 | 4.6 | 4.0 | 3.6 | |
| Dividend Yield | 2.6% | 2.3% | 2.1% | 1.7% | 1.4% | 1.6% | 1.3% | 1.6% | 1.7% | 2.0% | 2.1% | 2.2% | |
| Earnings Yield | 4.7% | 4.1% | 4.2% | 2.3% | 2.5% | 2.9% | 2.6% | 2.6% | 3.2% | 3.6% | 3.8% | 4.2% | |
| Payout Ratio | 57.2% | 56.2% | 49.0% | 71.9% | 54.8% | 54.6% | 50.6% | 61.0% | 52.5% | 55.9% | 54.0% | 52.6% | |
| Annual Payout | $75M | $67M | $61M | $56M | $52M | $47M | $43M | $39M | $36M | $33M | $33M | $32M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $181M | $169M | $164M | $183M | $163M | $148M | $143M | $162M | $155M | $135M | $125M | $152M | $157M | $161M | $125M | $135M | |
| Cost of Revenue | $17M | $17M | $18M | $17M | $13M | $13M | $11M | $12M | $16M | $16M | · | · | · | · | · | · | |
| SG&A Expense | $25M | $28M | $25M | $25M | $25M | $27M | $28M | $24M | $23M | $25M | $22M | $21M | $22M | $24M | $21M | $22M | |
| Operating Expenses | · | · | · | · | · | · | · | $107M | $104M | $96M | · | $100M | $98M | $110M | · | $95M | |
| Operating Income | $64M | $51M | $45M | $62M | $51M | $46M | $39M | $55M | $52M | $39M | $35M | $52M | $59M | $51M | $28M | $40M | |
| Interest Expense | · | · | · | · | · | · | · | · | $13M | $13M | · | $12M | $11M | $9M | · | $7M | |
| Interest Income | $886.0K | $976.0K | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $939.0K | $667.0K | |
| Other Non-op | $5M | $-420.0K | $1M | $3M | $4M | $-171.0K | $1M | $2M | $2M | $2M | $3M | $-1M | $2M | $2M | $2M | $338.0K | |
| Pretax Income | $58M | $40M | $36M | $54M | $44M | $35M | $31M | $46M | $42M | $31M | $29M | $41M | $52M | $45M | $23M | $34M | |
| Income Tax | $14M | $10M | $8M | $13M | $10M | $8M | $2M | $10M | $10M | $7M | $8M | $10M | $13M | $11M | $5M | $8M | |
| Net Income | $43M | $30M | $29M | $41M | $34M | $27M | $28M | $36M | $32M | $23M | $20M | $32M | $39M | $34M | $19M | $26M | |
| EPS (Basic) | $1.10 | $0.76 | $0.74 | $1.06 | $0.87 | $0.70 | $0.75 | $0.95 | $0.85 | $0.62 | $0.55 | $0.85 | $1.04 | $0.93 | $0.51 | $0.69 | |
| EPS (Diluted) | $1.09 | $0.76 | $0.74 | $1.06 | $0.87 | $0.70 | $0.75 | $0.95 | $0.85 | $0.62 | $0.54 | $0.85 | $1.04 | $0.93 | $0.50 | $0.69 | |
| Shares (Basic) | 39,341,000 | 39,111,000 | · | 38,567,000 | 38,509,000 | 38,253,000 | · | 37,564,000 | 37,309,000 | 37,030,000 | · | 36,977,000 | 36,976,000 | 36,968,000 | · | 36,958,000 | |
| Shares (Diluted) | 39,478,000 | 39,210,000 | · | 38,702,000 | 38,642,000 | 38,354,000 | · | 37,683,000 | 37,418,000 | 37,107,000 | · | 37,071,000 | 37,067,000 | 37,047,000 | · | 37,042,000 | |
| EBITDA | $77M | $64M | · | $74M | $63M | $57M | · | $66M | $63M | $50M | · | $62M | $69M | $62M | · | $50M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $22M | $22M | $19M | $26M | $20M | $21M | $27M | $16M | $4M | $17M | · | $9M | $1M | $2M | · | $2M | |
| Receivables | $42M | $40M | $38M | $47M | $42M | $34M | $38M | $44M | $39M | $29M | · | $33M | $27M | $21M | · | $32M | |
| Prepaid Expense | $12M | $14M | $8M | $8M | $11M | $14M | $7M | $7M | $9M | $12M | · | $7M | $9M | $12M | · | $7M | |
| Current Assets | $226M | $221M | $231M | $251M | $252M | $238M | $233M | $222M | $210M | $205M | · | $192M | $169M | $140M | · | $139M | |
| PP&E (Net) | $2.37B | $2.33B | $2.30B | $2.24B | $2.19B | $2.14B | $2.10B | $2.04B | $1.98B | $1.93B | · | $1.85B | $1.81B | $1.78B | · | $1.72B | |
| PP&E (Gross) | $3.04B | $2.99B | $2.69B | $2.90B | $2.86B | $2.79B | $2.44B | $2.68B | $2.62B | $2.57B | · | $2.47B | $2.43B | $2.40B | · | $2.32B | |
| Goodwill | · | · | · | · | · | · | · | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Intangibles | · | · | $3M | · | · | · | $4M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $64M | $64M | $64M | $42M | $42M | $41M | $41M | $19M | $19M | $19M | · | $15M | $15M | $13M | · | $15M | |
| Total Assets | $2.77B | $2.73B | $2.72B | $2.66B | $2.61B | $2.55B | $2.50B | $2.42B | $2.35B | $2.29B | · | $2.21B | $2.14B | $2.06B | · | $1.98B | |
| Accounts Payable | $80M | $79M | $86M | $82M | $76M | $68M | $89M | $77M | $72M | $70M | · | $72M | $71M | $66M | · | $70M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | · | · | $8M | · | $7M | |
| Current Liabilities | $231M | $182M | $175M | $197M | $162M | $294M | $286M | $321M | $299M | $179M | · | $195M | $141M | $308M | · | $373M | |
| Capital Leases | $5M | $5M | $4M | $5M | $6M | $6M | $6M | $7M | $6M | $6M | · | $7M | $7M | $8M | · | $8M | |
| Deferred Tax | $199M | $195M | $194M | $191M | $189M | $184M | $180M | $176M | $168M | $166M | · | $156M | $153M | $148M | · | $143M | |
| Other Non-current Liabilities | $18M | $18M | $18M | $17M | $17M | $15M | $15M | $15M | $15M | $15M | · | $15M | $15M | $15M | · | $14M | |
| Total Debt | $718M | $783M | · | $790M | $789M | $690M | · | $640M | $640M | $576M | · | $575M | $576M | $576M | · | $447M | |
| Common Stock | $467M | $433M | $425M | $398M | $383M | $382M | $355M | $325M | $298M | $280M | · | $263M | $262M | $262M | · | $260M | |
| Retained Earnings | $654M | $631M | $620M | $611M | $590M | $574M | $565M | $554M | $536M | $520M | · | $508M | $493M | $469M | · | $445M | |
| Stockholders' Equity | $1.12B | $1.06B | $1.05B | $1.01B | $973M | $956M | $920M | $879M | $833M | $800M | $776M | $771M | $755M | $731M | $710M | $706M | |
| Liabilities + Equity | $2.77B | $2.73B | $2.72B | $2.66B | $2.61B | $2.55B | $2.50B | $2.42B | $2.35B | $2.29B | · | $2.21B | $2.14B | $2.06B | · | $1.98B | |
| Shares Outstanding | 39,635,452 | 39,192,653 | 39,082,470 | 38,714,426 | 38,509,038 | 38,508,589 | 38,151,027 | 37,796,873 | 37,457,199 | 37,228,883 | · | 36,980,592 | 36,976,599 | 36,976,284 | 36,962,000 | 36,960,897 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $13M | $13M | $13M | $12M | $12M | $12M | $11M | $11M | $11M | $11M | $11M | $10M | $10M | $11M | $11M | $10M | |
| Stock-based Comp | $321.0K | $3M | $175.0K | $318.0K | $343.0K | $3M | $258.0K | $634.0K | $347.0K | $3M | $203.0K | $518.0K | $323.0K | $2M | $132.0K | $256.0K | |
| Other Non-cash | · | $26M | · | · | · | $4M | · | · | · | $9M | · | · | · | $-41M | · | · | |
| Operating Cash Flow | $45M | $72M | $28M | $92M | $65M | $45M | $65M | $64M | $25M | $46M | $11M | $39M | $11M | $7M | $28M | $33M | |
| CapEx | $49M | $49M | $64M | $55M | $51M | $68M | $58M | $64M | $62M | $48M | $52M | $47M | $39M | $49M | $44M | $46M | |
| Investing Cash Flow | $-48M | $-49M | $-65M | $-54M | $-51M | $-67M | $-60M | $-64M | $-61M | $-47M | $-54M | $-47M | $-39M | $-49M | $-45M | $-45M | |
| Net Debt Issued | · | $-124.0K | · | · | · | $-119.0K | · | · | · | $-115.0K | · | · | · | $-109.0K | · | · | |
| Stock Issued | $34M | $6M | $27M | $15M | $-125.0K | $26M | $30M | $27M | $16M | $16M | $0 | $0 | $0 | $0 | · | · | |
| Net Stock Activity | · | $6M | · | · | · | $26M | · | · | · | $16M | · | · | · | · | · | · | |
| Dividends Paid | $20M | $20M | $20M | $19M | $18M | $18M | $18M | $17M | $16M | $16M | $16M | $16M | $15M | $15M | $15M | $15M | |
| Financing Cash Flow | $2M | $-19M | $30M | $-32M | $-15M | $17M | $6M | $13M | $23M | $5M | $48M | $16M | $27M | $38M | $21M | $4M | |
| Free Cash Flow | · | $23M | · | · | · | $-23M | · | · | · | $-2M | · | · | · | $-42M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-11M | · | · | · | $-50M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 35.3% | 30.4% | · | 33.8% | 31.2% | 30.8% | · | 34.0% | 33.3% | 28.8% | · | 34.1% | 37.5% | 31.7% | · | 29.9% | |
| Net Margin | 23.9% | 17.7% | · | 22.5% | 20.7% | 18.1% | · | 22.1% | 20.5% | 17.1% | · | 20.8% | 24.5% | 21.3% | · | 19.0% | |
| Pretax Margin | 31.9% | 23.5% | · | 29.6% | 26.9% | 23.8% | · | 28.4% | 27.2% | 22.6% | · | 27.1% | 32.9% | 28.0% | · | 25.2% | |
| EBITDA Margin | 42.3% | 37.9% | · | 40.3% | 38.4% | 38.6% | · | 40.7% | 40.2% | 36.7% | · | 40.8% | 44.0% | 38.6% | · | 37.4% | |
| ROA | 1.6% | 1.1% | · | 1.6% | 1.4% | 1.1% | · | 1.6% | 1.4% | 1.1% | · | 1.5% | 1.9% | 1.7% | · | 1.3% | |
| ROE | 4.1% | 3.0% | · | 4.4% | 3.7% | 3.1% | · | 4.3% | 4.0% | 3.0% | · | 4.3% | 5.3% | 4.9% | · | 3.7% | |
| ROIC | 2.6% | 2.1% | · | 2.6% | 2.2% | 2.1% | · | 2.8% | 2.6% | 2.1% | · | 2.9% | 3.3% | 3.0% | · | 2.6% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.2 | · | 1.3 | 1.6 | 0.8 | · | 0.7 | 0.7 | 1.1 | · | 1.0 | 1.2 | 0.5 | · | 0.4 | |
| Quick Ratio | 0.3 | 0.3 | · | 0.4 | 0.4 | 0.2 | · | 0.2 | 0.1 | 0.3 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | |
| Debt / Equity | 0.6 | 0.7 | · | 0.8 | 0.8 | 0.7 | · | 0.7 | 0.8 | 0.7 | · | 0.7 | 0.8 | 0.8 | · | 0.6 | |
| LT Debt / Equity | 0.6 | 0.7 | · | 0.8 | 0.8 | 0.7 | · | 0.7 | 0.8 | 0.7 | · | 0.7 | 0.8 | 0.8 | · | 0.6 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 3.9 | 3.0 | · | 4.4 | 5.5 | 5.4 | · | 5.5 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 4.3 | 4.6 | · | 4.0 | 4.0 | 4.7 | · | 4.2 | 4.7 | 5.4 | · | 4.7 | 5.8 | 7.2 | · | 4.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $28.29 | $27.14 | · | $26.07 | $25.25 | $24.84 | · | $23.27 | $22.25 | $21.50 | · | $20.86 | $20.42 | $19.77 | · | $19.09 | |
| Revenue / Share | $4.59 | $4.32 | · | $4.72 | $4.22 | $3.86 | · | $4.29 | $4.15 | $3.64 | · | $4.09 | $4.25 | $4.36 | · | $3.64 | |
| Cash Flow / Share | · | $1.83 | · | · | · | $1.17 | · | · | · | $1.23 | · | · | · | $0.19 | · | · | |
| Cash / Share | $0.55 | $0.57 | · | $0.67 | $0.53 | $0.55 | · | $0.44 | $0.10 | $0.46 | · | $0.23 | $0.03 | $0.06 | · | $0.06 | |
| Dividend Paid / Share | $0.50 | $0.50 | · | $0.50 | $0.47 | $0.47 | · | $0.47 | $0.43 | $0.43 | · | $0.43 | $0.40 | $0.40 | · | $0.40 | |
| EPS (TTM) | $3.65 | $3.43 | · | $3.38 | $3.27 | $3.25 | · | $2.96 | $2.86 | $3.05 | · | $3.32 | $3.16 | $2.66 | · | $2.16 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $697M | $679M | · | $637M | $616M | $608M | · | $578M | $567M | $570M | · | $596M | $579M | $544M | · | $483M | |
| Net Income TTM | $143M | $134M | · | $130M | $125M | $123M | · | $111M | $107M | $114M | · | $123M | $117M | $99M | · | $80M | |
| Market Cap | $3.28B | $2.96B | · | $2.84B | $2.95B | $3.03B | · | $3.15B | $2.72B | $2.69B | · | $2.91B | $3.22B | $3.29B | · | $2.88B | |
| Enterprise Value | $3.97B | $3.72B | · | $3.60B | $3.72B | $3.70B | · | $3.77B | $3.35B | $3.25B | · | $3.48B | $3.79B | $3.86B | · | $3.33B | |
| P/E | 22.6 | 22.0 | · | 21.7 | 23.4 | 24.2 | · | 28.1 | 25.4 | 23.7 | · | 23.7 | 27.5 | 33.4 | · | 36.1 | |
| P/S | 4.7 | 4.4 | · | 4.5 | 4.8 | 5.0 | · | 5.5 | 4.8 | 4.7 | · | 4.9 | 5.6 | 6.0 | · | 6.0 | |
| P/B | 2.9 | 2.8 | · | 2.8 | 3.0 | 3.2 | · | 3.6 | 3.3 | 3.4 | · | 3.8 | 4.3 | 4.5 | · | 4.1 | |
| P / Tangible Book | 2.9 | 2.8 | · | 2.8 | 3.0 | 3.2 | · | 3.6 | 3.3 | 3.4 | · | 3.8 | 4.3 | 4.5 | · | 4.1 | |
| P / Cash Flow | · | 41.4 | · | · | · | 67.2 | · | · | · | 58.7 | · | · | · | 472.0 | · | · | |
| EV / Revenue | 5.7 | 5.5 | · | 5.7 | 6.0 | 6.1 | · | 6.5 | 5.9 | 5.7 | · | 5.8 | 6.5 | 7.1 | · | 6.9 | |
| Dividend Yield | 2.4% | 2.6% | · | 2.6% | 2.4% | 2.3% | · | 2.1% | 2.3% | 2.3% | · | 2.1% | 1.8% | 1.8% | · | 1.9% | |
| Earnings Yield | 4.4% | 4.5% | · | 4.6% | 4.3% | 4.1% | · | 3.5% | 3.9% | 4.2% | · | 4.2% | 3.6% | 3.0% | · | 2.8% | |
| Payout Ratio | · | 65.8% | · | · | · | 66.2% | · | · | · | 68.8% | · | · | · | 42.7% | · | · | |
| Annual Payout | $78M | $77M | · | $73M | $71M | $69M | · | $65M | $64M | $62M | · | $60M | $59M | $58M | · | $55M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 |
|---|---|---|---|---|---|
| Revenue | $658M | $595M | $596M | · | · |
| Operating Margin % | 30.9% | 31.0% | 33.0% | · | · |
| Net Income | $130M | $119M | $125M | · | · |
| Diluted EPS | $3.37 | $3.17 | $3.36 | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 |
|---|---|---|---|---|---|
| Debt / Equity | 0.7 | 0.7 | 0.7 | · | · |
| Current Ratio | 1.3 | 0.8 | 1.2 | · | · |
| Quick Ratio | 0.3 | 0.2 | 0.3 | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 |
|---|---|---|---|---|---|
| Free Cash Flow | $-7M | $-33M | $-121M | · | · |
Institutional owners (13F) 438 filers · $3.1B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
438
Value held
$3.1B
New positions
65
Exited positions
31
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 65 (+3 vs prior Q) | 31 (+5 vs prior Q) | 162 (+32 vs prior Q) | 109 (-11 vs prior Q) | +1.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $602,748,527 | 7,294,548 | 19.69% | Shares |
| VANGUARD GROUP INC | $360,656,637 | 4,975,947 | 11.78% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $291,207,042 | 3,524,229 | 9.51% | Shares |
| NEUBERGER BERMAN GROUP LLC | $211,364,267 | 2,557,960 | 6.91% | Shares |
| STATE STREET CORP | $185,392,737 | 2,243,634 | 6.06% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $147,874,070 | 1,789,593 | 4.83% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $82,733,270 | 1,001,087 | 2.70% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $75,988,969 | 919,629 | 2.48% | Shares |
| MORGAN STANLEY | $74,743,306 | 904,551 | 2.44% | Shares |
| FIRST TRUST ADVISORS LP | $64,322,062 | 778,435 | 2.10% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $61,915,105 | 749,299 | 2.02% | Shares |
| Invesco Ltd. | $51,173,586 | 619,310 | 1.67% | Shares |
| NORTHERN TRUST CORP | $39,866,166 | 482,466 | 1.30% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $39,579,439 | 478,996 | 1.29% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $38,917,491 | 470,985 | 1.27% | Shares |
| Bank of New York Mellon Corp | $28,337,178 | 342,941 | 0.93% | Shares |
| TWO SIGMA INVESTMENTS, LP | $23,734,393 | 287,237 | 0.78% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $22,755,641 | 275,392 | 0.74% | Shares |
| Nuveen, LLC | $22,208,063 | 268,766 | 0.73% | Shares |
| JPMORGAN CHASE & CO | $21,430,103 | 257,020 | 0.70% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $20,839,864 | 252,207 | 0.68% | Shares |
| GOLDMAN SACHS GROUP INC | $19,704,562 | 238,467 | 0.64% | Shares |
| Legal & General Group Plc | $18,869,718 | 228,364 | 0.62% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $15,782,000 | 190,996 | 0.52% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $15,378,765 | 186,116 | 0.50% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $14,984,620 | 181,346 | 0.49% | Shares |
| Allianz Asset Management GmbH | $14,740,696 | 178,394 | 0.48% | Shares |
| Perpetual Ltd | $13,249,968 | 160,353 | 0.43% | Shares |
| BANK OF AMERICA CORP /DE/ | $12,877,235 | 155,842 | 0.42% | Shares |
| UBS Group AG | $12,513,323 | 151,438 | 0.41% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $12,251,550 | 148,270 | 0.40% | Shares |
| Public Sector Pension Investment Board | $11,129,187 | 134,687 | 0.36% | Shares |
| MILLENNIUM MANAGEMENT LLC | $10,444,763 | 126,404 | 0.34% | Shares |
| Leith Wheeler Investment Counsel Ltd. | $10,337,840 | 125,110 | 0.34% | Shares |
| D. E. Shaw & Co., Inc. | $9,232,415 | 111,732 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $9,003,584 | 108,963 | 0.29% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $8,531,751 | 112,824 | 0.28% | Shares |
| IEQ CAPITAL, LLC | $8,401,290 | 101,674 | 0.27% | Shares |
| ProShare Advisors LLC | $8,008,830 | 96,924 | 0.26% | Shares |
| Cubist Systematic Strategies, LLC | $7,863,527 | 107,249 | 0.26% | Shares |
| JANE STREET GROUP, LLC | $7,659,801 | 92,700 | 0.25% | Put option |
| D.A. DAVIDSON & CO. | $7,596,992 | 91,939 | 0.25% | Shares |
| AMERIPRISE FINANCIAL INC | $7,135,333 | 86,353 | 0.23% | Shares |
| DEAN INVESTMENT ASSOCIATES, LLC | $7,005,371 | 84,780 | 0.23% | Shares |
| Meiji Yasuda Asset Management Co Ltd. | $6,511,988 | 78,809 | 0.21% | Shares |
| Swiss National Bank | $6,478,192 | 78,400 | 0.21% | Shares |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $6,392,752 | 77,366 | 0.21% | Shares |
| AMERICAN CENTURY COMPANIES INC | $6,331,028 | 76,619 | 0.21% | Shares |
| DEUTSCHE BANK AG\ | $5,784,182 | 70,001 | 0.19% | Shares |
| WELLS FARGO & COMPANY/MN | $5,725,420 | 69,290 | 0.19% | Shares |
Company insiders 49 insiders · 20 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Robert J Sprowls | President & CEO | March 13, 2026 F | 218,540 | 0 | 0 | $0 |
| Eva G Tang | Sr. Vice President & CFO | March 13, 2026 F | 41,911 | 0 | 0 | $0 |
| Paul J Rowley | SVP OF OPERATIONS | May 15, 2026 S | 6,520 | 0 | 1 | $-99,169 |
| David R Schickling | Vice President Water Operation | March 13, 2026 F | 3,239 | 0 | 0 | $0 |
| Susan P. Miller | Vice President | March 13, 2026 F | 4,561 | 0 | 0 | $0 |
| Christopher H Connor | SVP of ASUS | March 13, 2026 F | 6,103 | 0 | 0 | $0 |
| Jon Pierotti | Vice President Reg Affairs | March 13, 2026 F | 3,699 | 0 | 0 | $0 |
| Patrick Kubiak | VP of Asset Management | March 13, 2026 F | 4,080 | 0 | 0 | $0 |
| Sunil Pillai | VP ENVIRONMENTAL QUALITY | March 13, 2026 F | 5,794 | 0 | 0 | $0 |
| Gladys Farrow | VP - Fin., Treas., & Asst. Sec | March 13, 2026 F | 10,942 | 0 | 0 | $0 |
| Stuart Harrison | Senior Vice President | Aug. 6, 2021 A | 1,564 | 0 | 0 | $0 |
| Denise L Kruger | Sr. Vice President | March 11, 2021 F | 14,495 | 0 | 0 | $0 |
| Gabriel G Willis | VP of Strategic Business Dev. | Aug. 6, 2020 F | 1,221 | 0 | 0 | $0 |
| James B Gallagher | Vice President | March 12, 2018 F | 25,204 | 0 | 0 | $0 |
| Shengder David Chang | VP ENVIRONMENTAL QUALITY | March 5, 2015 F | 12,587 | 0 | 0 | $0 |
| Diane D Rentfrow | Vice President | March 4, 2014 F | 6,236 | 0 | 0 | $0 |
| Gregory S Thomas | Vice President | Feb. 1, 2011 F | 2,824 | 0 | 0 | $0 |
| Joel A Dickson | Sr. Vice President | Jan. 29, 2007 F | 3,298 | 0 | 0 | $0 |
| Susan L Conway | Sr. Vice President | Jan. 29, 2007 F | 1,962 | 0 | 0 | $0 |
| Roger F Kropke | Vice President | Aug. 30, 2005 S | 3,563 | 0 | 0 | $0 |
| Diana M Bonta | Director | Sept. 4, 2026 S | 16,612 | 0 | 1 | $-48,485 |
| Anne M Holloway | Director | Aug. 19, 2026 S | 38,518 | 4 | 3 | $-99,611 |
| Roger M Ervin | Director | May 19, 2026 A | 2,060 | 0 | 0 | $0 |
| Thomas A. Eichelberger | Director | May 19, 2026 A | 8,997 | 0 | 0 | $0 |
| Caroline Ann Winn | Director | May 19, 2026 A | 1,610 | 0 | 0 | $0 |
| Carl James Levin | Director | May 19, 2026 A | 7,203 | 0 | 0 | $0 |
| Mary Ann Hopkins | Director | May 19, 2026 A | 4,711 | 0 | 0 | $0 |
| Steven D Davis | Director | May 19, 2026 A | 4,836 | 0 | 0 | $0 |
| John R Fielder | Director | May 23, 2023 A | 13,665 | 0 | 0 | $0 |
| Janice F Wilkins | Director | Aug. 16, 2021 S | 16,229 | 0 | 0 | $0 |
| James F. Mcnulty | Director | Aug. 9, 2019 S | 7,542 | 0 | 0 | $0 |
| Robert F Kathol | Director | June 4, 2013 G | 12,227 | 0 | 0 | $0 |
| N P Dodge | Director | Aug. 15, 2012 D | 18,468 | 0 | 0 | $0 |
| Gary F King | Director | May 22, 2012 A | 8,884 | 0 | 0 | $0 |
| Jean E Auer | Director | May 11, 2004 A | 10,506 | 0 | 0 | $0 |
| Sarah J Anderson | · | April 26, 2023 S | 1,000 | 0 | 0 | $0 |
| Granville R Hodges JR | · | Aug. 12, 2022 S | 244 | 0 | 0 | $0 |
| Bryan K Switzer | · | May 25, 2022 S | 6,630 | 0 | 0 | $0 |
| James L Anderson | · | Nov. 12, 2021 S | 17,583 | 0 | 0 | $0 |
| Iii James C Cotton, | · | March 12, 2020 F | 9,135 | 0 | 0 | $0 |
| William C Gedney | · | March 12, 2020 F | 23,992 | 0 | 0 | $0 |
| Lloyd E Ross | · | Nov. 5, 2019 S | 37,605 | 0 | 0 | $0 |
| Patrick Ronald Scanlon | · | Oct. 8, 2019 S | 19,374 | 0 | 0 | $0 |
| Mcclellan Harris III | · | March 26, 2014 F | 23,093 | 0 | 0 | $0 |
| Roland S Tanner | · | April 3, 2013 M | 7,026 | 0 | 0 | $0 |
| Jimmy Cheung | · | March 4, 2013 F | 377 | 0 | 0 | $0 |
| Floyd E Wicks | · | Aug. 14, 2009 S | 477 | 0 | 0 | $0 |
| GEORGE MICHAEL P | · | Feb. 17, 2009 F | 2,825 | 0 | 0 | $0 |
| Linda J Matlick | · | Aug. 7, 2003 P | 9,737 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 61 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PSCU · Invesco Exchange-Traded Fund Trust … | 3.38% | 5,931 SH | Oct. 1, 2026 | Daily |
| CGW · Invesco Exchange-Traded Fund Trust … | 2.27% | 278,383 SH | Oct. 1, 2026 | Daily |
| XSLV · Invesco Exchange-Traded Fund Trust … | 1.02% | 29,040 SH | Oct. 1, 2026 | Daily |
| EFRA · iShares Trust | 0.95% | 600 SH | Sept. 11, 2026 | Daily |
| XSHD · Invesco Exchange-Traded Fund Trust … | 0.94% | 7,204 SH | Oct. 1, 2026 | Daily |
| VFMV · VANGUARD WELLINGTON FUND | 0.62% | 31,627 SH | Aug. 19, 2026 | Daily |
| PHO · Invesco Exchange-Traded Fund Trust | 0.55% | 126,317 SH | Oct. 1, 2026 | Daily |
| HSMV · First Trust Exchange-Traded Fund III | 0.51% | 2,077 NS | July 31, 2026 | N-PORT |
| HAPS · Harbor ETF Trust | 0.32% | 6,313 NS | July 31, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.28% | 42,481 NS | July 31, 2026 | N-PORT |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.23% | 30,324 SH | Aug. 19, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 15,665 NS | July 31, 2026 | N-PORT |
| FUTY · FIDELITY COVINGTON TRUST | 0.22% | 59,239 NS | July 31, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.21% | 5,982 SH | Oct. 1, 2026 | Daily |
| VPU · VANGUARD WORLD FUND | 0.21% | 267,653 SH | Aug. 19, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.18% | 136,990 SH | Aug. 19, 2026 | Daily |
| CCNR · Financial Investors Trust | 0.16% | 8,066 NS | July 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.16% | 263,462 SH | Sept. 11, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.15% | 1,506 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.14% | 30,280 SH | Aug. 19, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 10,685 NS | July 31, 2026 | N-PORT |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.12% | 29,108 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.12% | 38,193 SH | Oct. 1, 2026 | Daily |
| IWM · iShares Trust | 0.11% | 1,015,250 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.10% | 229,416 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.07% | 128,423 NS | July 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.07% | 570,592 SH | Aug. 19, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.07% | 10,558 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.06% | 10,183 SH | Aug. 19, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.06% | 3,848 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.05% | 5,849 SH | Sept. 11, 2026 | Daily |
| NFRA · FlexShares Trust | 0.05% | 17,499 NS | July 31, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.04% | 9,965 SH | Oct. 1, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.04% | 449,350 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.04% | 899,040 SH | Aug. 19, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 1,081 SH | Oct. 1, 2026 | Daily |
| WSML · iShares Trust | 0.03% | 2,446 SH | Sept. 11, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.01% | 3,729 NS | July 31, 2026 | N-PORT |
| PFM · Invesco Exchange-Traded Fund Trust | 0.01% | 1,116 SH | Oct. 1, 2026 | Daily |
| VIG · VANGUARD SPECIALIZED FUNDS | 0.01% | 221,420 SH | Aug. 19, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.01% | 153,629 SH | Aug. 19, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.01% | 45,674 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 1,944 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 8,929 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 2,358 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.01% | 57,975 SH | Sept. 11, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.01% | 12,781 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 10,483 SH | Sept. 9, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,243,081 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 57,033 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,254 SH | Aug. 19, 2026 | Daily |
| IJR · iShares Trust | · | 2,392,002 SH | Sept. 10, 2026 | Daily |
| IJT · iShares Trust | · | 240,661 SH | Sept. 9, 2026 | Daily |
| IJS · iShares Trust | · | 122,973 SH | Sept. 8, 2026 | Daily |
| IWN · iShares Trust | · | 109,562 SH | Sept. 11, 2026 | Daily |
| IFRA · iShares Trust | · | 47,286 SH | Sept. 11, 2026 | Daily |
| XJR · iShares Trust | · | 5,423 SH | Aug. 31, 2026 | Daily |
| ISCB · iShares Trust | · | 1,832 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 4,514 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 51,233 SH | Sept. 11, 2026 | Daily |
| SMMV · iShares Trust | · | 12,340 SH | Aug. 19, 2026 | Daily |
AWR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 11 analysts
SELL
Median target
$84.00
+1.4%
0 0.0%
Strong Buy
1 9.1%
Buy
4 36.4%
Hold
5 45.5%
Sell
1 9.1%
Strong Sell
12-Month Price Target
2 analysts · 2026-09-29Mean target $84.00 +1.4%
Now
Current price $82.82
Low$79.00
Mean$84.00
High$89.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AWR | $2.83B | 21.5 | 10.5% | 19.8% | 12.9% | · |
| AWK | · | 22.9 | 10.1% | 21.7% | 10.3% | · |
| WTRG | · | 17.4 | 18.6% | 24.9% | 9.1% | · |
| CWT | $2.58B | 20.2 | 6.4% | 13.3% | 7.7% | · |
| HTO | $1.77B | 16.8 | 7.0% | 12.8% | 6.8% | · |
| MSEX | $934M | 21.4 | 1.5% | 22.0% | 9.0% | · |
| YORW | $460M | 22.9 | 3.4% | 25.9% | 8.5% | · |
| ARTNA | · | 14.3 | 4.6% | · | · | · |
| CDZI | $467M | · | 69.8% | -209.4% | -116.1% | · |
| PCYO | $242M | 18.6 | -9.2% | 50.2% | 9.5% | 61.5% |
| GWRS | · | 76.8 | 5.8% | 5.3% | 3.6% | · |
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Source: SEC 10-Q filed Aug 5, 2026