HTO H2O America - Common Stock
$56.40
Price · May 20, 2026
Fundamentals as of Apr 29, 2026
52W Range
$44–$62
70% of range
Analyst Rating
STRONG BUY
10 analysts
Price Target
$64
+13% upside
P/E (TTM)
16.8
ROE
6.8%
Net Profit Margin
12.8%
HTO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$56.40
Market Cap
$1.77B
P/E (TTM)
16.8
EPS (TTM)
$2.92
Revenue (TTM)
$801M
Div Yield
3.3%
ROE
6.8%
Debt/Equity
1.2
52W Range
$44 – $62
HTO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$801M
2021-12-31
→
2025-12-31
EPS
$2.92
2021-12-31
→
2025-12-31
Free Cash Flow
—
Margins
12.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
HTO
Peer Median
P/E (TTM)
16.8
21.5
P/S (TTM)
2.2
4.8
P/B
1.1
2.1
EV / EBITDA
12.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
HTO
Peer Median
Operating Margin
22.2%
—
Net Profit Margin
12.8%
21.8%
ROA
2.1%
2.9%
ROE
6.8%
8.9%
ROIC
4.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
HTO
Peer Median
Debt / Equity
1.2
85.3
Current Ratio
0.7
0.8
Quick Ratio
0.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
HTO
Peer Median
Revenue YoY
7.0%
—
Revenue CAGR 3Y
8.8%
—
Revenue CAGR 5Y
7.2%
—
EPS YoY
1.7%
—
Net Income YoY
9.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
HTO
Peer Median
Payout Ratio
57.2%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
3.3%
Payout Ratio
57.2%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| May 11, 2026 | $0.4400 |
| Feb. 9, 2026 | $0.4400 |
| Nov. 10, 2025 | $0.4200 |
| Aug. 11, 2025 | $0.4200 |
| May 12, 2025 | $0.4200 |
| Feb. 10, 2025 | $0.4200 |
| Nov. 4, 2024 | $0.4000 |
| Aug. 5, 2024 | $0.4000 |
| May 3, 2024 | $0.4000 |
| Feb. 2, 2024 | $0.4000 |
| Nov. 3, 2023 | $0.3800 |
| Aug. 4, 2023 | $0.3800 |
| May 5, 2023 | $0.3800 |
| Feb. 3, 2023 | $0.3800 |
| Nov. 4, 2022 | $0.3600 |
| Aug. 5, 2022 | $0.3600 |
| May 6, 2022 | $0.3600 |
| Feb. 4, 2022 | $0.3600 |
| Nov. 5, 2021 | $0.3400 |
| Aug. 6, 2021 | $0.3400 |
HTO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 4 40.0%
- Buy 4 40.0%
- Hold 2 20.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-05-15
Median
$64.00
← Below all targets
$56.40
Low
$60.00
High
$67.00
Median target
$64.00
+13.5%
Mean target
$63.71
+13.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.06%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $0.50 | $0.47 | 0.03% |
| Dec. 31, 2025 | $0.46 | $0.49 | -0.03% |
| Sept. 30, 2025 | $1.28 | $1.19 | 0.09% |
| June 30, 2025 | $0.75 | $0.70 | 0.05% |
| March 31, 2025 | $0.50 | $0.37 | 0.13% |
Peer Comparison Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HTO | $1.77B | 16.8 | 7.0% | 12.8% | 6.8% | — |
| AWK | — | 22.9 | 10.1% | 21.7% | 10.3% | — |
| WTRG | — | 17.4 | 18.6% | 24.9% | 9.1% | — |
| AWR | $2.83B | 21.5 | 10.5% | 19.8% | 12.9% | — |
| CWT | $2.58B | 20.2 | 6.4% | 13.3% | 7.7% | — |
| MSEX | $934M | 21.4 | 1.5% | 22.0% | 9.0% | — |
| YORW | $460M | 22.9 | 3.4% | 25.9% | 8.5% | — |
| CDZI | $467M | — | 69.8% | -209.4% | -116.1% | — |
| ARTNA | — | 14.3 | 4.6% | — | — | — |
| PCYO | $242M | 18.6 | -9.2% | 50.2% | 9.5% | 61.5% |
| GWRS | — | 76.8 | 5.8% | 5.3% | 3.6% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $801M | $748M | $670M | $621M | $574M | $565M | $420M | $398M | $389M | $340M | |
| SG&A Expense | $126M | $106M | $99M | $95M | $87M | $80M | $66M | $49M | $49M | $42M | |
| Operating Income | $178M | $171M | $149M | $131M | $111M | $118M | $57M | $73M | $102M | $97M | |
| Interest Expense | · | · | $66M | $58M | $54M | $54M | $32M | $24M | $23M | · | |
| Other Non-op | $4M | $55.0K | $9M | $4M | $11M | $6M | $2M | $2M | $2M | $1M | |
| Pretax Income | $115M | $103M | $91M | $82M | $69M | $70M | $32M | $49M | $96M | $86M | |
| Income Tax | $12M | $9M | $6M | $8M | $8M | $8M | $8M | $10M | $35M | $34M | |
| Net Income | $103M | $94M | $85M | $74M | $60M | $62M | $23M | $39M | $59M | $53M | |
| EPS (Basic) | $2.93 | $2.87 | $2.69 | $2.44 | $2.04 | $2.16 | $0.82 | $1.83 | $2.89 | $2.59 | |
| EPS (Diluted) | $2.92 | $2.87 | $2.68 | $2.43 | $2.03 | $2.14 | $0.82 | $1.82 | $2.86 | $2.57 | |
| Shares (Basic) | 35,002,252 | 32,701,292 | 31,575,197 | 30,304,557 | 29,601,284 | 28,521,900 | 28,443,052 | 21,214,277 | 20,506,960 | 20,439,957 | |
| Shares (Diluted) | 35,102,487 | 32,779,573 | 31,663,274 | 30,423,735 | 29,735,533 | 28,694,986 | 28,562,546 | 21,332,387 | 20,685,118 | 20,588,973 | |
| EBITDA | $298M | $286M | $258M | $237M | $208M | $209M | $126M | $130M | $149M | $139M |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $21M | $11M | $10M | $12M | $11M | $5M | $13M | $421M | $8M | $6M | |
| Receivables | $62M | $69M | $68M | $59M | $54M | $47M | $36M | $19M | $17M | $16M | |
| Prepaid Expense | $12M | $10M | $11M | $10M | $10M | $8M | $7M | · | · | · | |
| Other Current Assets | $8M | $9M | $6M | $6M | $5M | $5M | $3M | $5M | $5M | $4M | |
| Current Assets | $191M | $191M | $198M | $158M | $134M | $127M | $122M | $503M | $67M | $100M | |
| PP&E (Net) | $2M | $1M | · | · | · | · | $44M | $44M | $45M | $50M | |
| PP&E (Gross) | $2M | $1M | $4.15B | $3.85B | $3.63B | $3.38B | $3.17B | $1.94B | $1.79B | $1.67B | |
| Accum. Depreciation | $103.0K | $98.0K | · | · | · | · | · | · | · | · | |
| Goodwill | $640M | $640M | $640M | $640M | $640M | $628M | $628M | $2M | · | · | |
| Intangibles | $41M | $42M | $15M | $16M | $21M | $21M | $20M | $7M | $6M | $16M | |
| Other Non-current Assets | $1.02B | $978M | $963M | $925M | $819M | $806M | $760M | $2M | $3M | $8M | |
| Total Assets | $5.15B | $4.66B | $4.35B | $3.76B | $3.49B | $3.31B | $3.13B | $1.96B | $1.96B | $1.44B | |
| Accounts Payable | $75M | $56M | $46M | $30M | $30M | $34M | $35M | $25M | $23M | $19M | |
| Current Liabilities | $273M | $261M | $343M | $268M | $203M | $351M | $235M | $164M | $85M | $64M | |
| Deferred Tax | $308M | $276M | $239M | $218M | $200M | $191M | $196M | $80M | $86M | $205M | |
| Other Non-current Liabilities | $24M | $22M | $22M | $26M | $24M | $22M | $22M | $14M | $13M | $13M | |
| Long-term Debt | $1.90B | $1.72B | $1.58B | $1.49B | $1.52B | $1.35B | $1.29B | $435M | $435M | $438M | |
| Total Debt | $1.89B | $1.71B | $1.58B | $1.50B | $1.53B | $1.36B | $1.31B | $431M | $431M | $433M | |
| Common Stock | $36.0K | $34.0K | $32.0K | $31.0K | $30.0K | $29.0K | $28.0K | $28.0K | $21.0K | $21.0K | |
| Retained Earnings | $581M | $537M | $495M | $458M | $428M | $408M | $383M | $394M | $376M | $338M | |
| AOCI | $1M | $2M | $2M | $1M | $-163.0K | $-1M | $126.0K | $0 | $2M | $2M | |
| Stockholders' Equity | $1.54B | $1.37B | $1.23B | $1.11B | $1.03B | $917M | $890M | $889M | $463M | $422M | |
| Liabilities + Equity | $5.15B | $4.66B | $4.35B | $3.76B | $3.49B | $3.31B | $3.13B | $1.96B | $1.46B | $1.44B | |
| Shares Outstanding | 36,118,242 | 33,629,169 | 32,023,004 | 30,801,912 | 30,181,348 | 28,556,605 | 28,456,508 | 28,404,316 | 20,520,856 | 20,456,225 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $120M | $115M | $108M | $106M | $96M | $92M | $68M | $57M | $51M | $46M | |
| Stock-based Comp | $6M | $6M | $5M | $5M | $4M | $4M | $3M | $2M | $3M | $2M | |
| Deferred Tax | $5M | $10M | $-9M | $-3M | $-3M | $-5M | $-1M | $-9M | $-436.0K | $5M | |
| Amort. of Intangibles | $1M | $1M | $1M | $4M | $2M | $1M | $745.0K | $647.0K | $616.0K | $530.0K | |
| Other Non-cash | $10M | $-29M | $2M | $-16M | $-28M | $-47M | $36M | $3M | $-11M | $8M | |
| Operating Cash Flow | $245M | $196M | $191M | $166M | $130M | $104M | $130M | $91M | $101M | $115M | |
| Investing Cash Flow | $-520M | $-340M | $-322M | $-244M | $-260M | $-214M | $-1.02B | $-147M | $-114M | $-122M | |
| Debt Issued | $185M | $185M | $70M | $55M | $247M | $85M | $590M | $0 | $0 | $51M | |
| Net Debt Issued | $181M | $136M | $66M | $-34M | $171M | $56M | $589M | $0 | $-3M | $34M | |
| Stock Issued | $123M | $85M | $81M | $39M | $91M | $0 | $-10.0K | $411M | $0 | $0 | |
| Net Stock Activity | $123M | $85M | $81M | $39M | $91M | $0 | $-10.0K | $411M | · | · | |
| Dividends Paid | $59M | $52M | $48M | $44M | $40M | $37M | $34M | $23M | $21M | $17M | |
| Financing Cash Flow | $285M | $146M | $129M | $78M | $133M | $102M | $485M | $468M | $-5M | $28M | |
| Net Change in Cash | $10M | $1M | $-3M | $225.0K | $3M | $-9M | $-403M | $413M | $-18M | $20M | |
| Taxes Paid | $3M | $-598.0K | $23M | $7M | $8M | $10M | $16M | $14M | $34M | $28M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 22.2% | 22.8% | 22.3% | 21.1% | 19.4% | 20.8% | 13.7% | 18.5% | · | · | |
| Net Margin | 12.8% | 12.6% | 12.7% | 11.9% | 10.5% | 10.9% | 5.6% | 9.8% | · | · | |
| Pretax Margin | 14.4% | 13.8% | 13.6% | 13.3% | 12.0% | 12.4% | 7.6% | 12.3% | · | · | |
| EBITDA Margin | 37.2% | 38.1% | 38.4% | 38.2% | 36.2% | 37.1% | 30.0% | 32.8% | · | · | |
| ROA | 2.1% | 2.1% | 2.1% | 2.0% | 1.7% | 1.9% | 0.91% | 2.0% | 4.0% | 3.6% | |
| ROE | 6.8% | 7.0% | 6.9% | 6.8% | 5.9% | 6.7% | 2.6% | 5.7% | 13.4% | 13.1% | |
| ROIC | 4.6% | 5.1% | 5.0% | 4.5% | 3.8% | 4.5% | 1.9% | 4.4% | 6.9% | 6.7% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.7 | 0.6 | 0.6 | 0.7 | 0.4 | 0.5 | 3.1 | 0.8 | 1.6 | |
| Quick Ratio | 0.3 | 0.3 | 0.2 | 0.3 | 0.3 | 0.1 | 0.2 | 2.7 | 0.3 | 0.4 | |
| Debt / Equity | 1.2 | 1.3 | 1.3 | 1.3 | 1.5 | 1.5 | 1.5 | 0.5 | 0.9 | 1.0 | |
| LT Debt / Equity | 1.2 | 1.2 | 1.2 | 1.3 | 1.4 | 1.4 | 1.4 | 0.5 | 0.9 | 1.0 | |
| Interest Coverage | · | · | 2.3 | 2.3 | 2.0 | 2.2 | 1.8 | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | · | · | |
| Receivables Turnover | 12.2 | 11.0 | 10.6 | 11.0 | 11.4 | 13.6 | 15.2 | 21.8 | · | · |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 7.0% | 11.7% | 8.0% | 8.2% | 1.6% | · | · | · | · | · | |
| Revenue CAGR 3Y | 8.8% | 9.3% | 5.9% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 7.2% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 1.7% | 7.1% | 10.3% | 19.7% | -5.1% | · | · | · | · | · | |
| EPS CAGR 3Y | 6.3% | 12.2% | 7.8% | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 6.4% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 9.2% | 10.6% | 15.1% | 22.1% | -1.7% | · | · | · | · | · | |
| Net Income CAGR 3Y | 11.6% | 15.8% | 11.4% | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 10.8% | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 9.9% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $801M | $748M | $670M | $621M | $574M | $565M | $420M | $398M | $389M | $340M | |
| Net Income TTM | $103M | $94M | $85M | $74M | $60M | $62M | $23M | $39M | $59M | $53M | |
| Market Cap | $1.77B | $1.66B | $2.09B | $2.50B | $2.21B | $1.98B | $2.02B | $1.58B | $1.31B | $1.15B | |
| Enterprise Value | $3.64B | $3.35B | $3.66B | $3.98B | $3.73B | $3.34B | $3.32B | $1.59B | $1.73B | $1.57B | |
| P/E | 16.8 | 17.1 | 24.4 | 33.4 | 36.1 | 32.4 | 86.7 | 30.6 | 22.3 | 21.8 | |
| P/S | 2.2 | 2.2 | 3.1 | 4.0 | 3.9 | 3.5 | 4.8 | 4.0 | 3.4 | 3.4 | |
| P/B | 1.1 | 1.2 | 1.7 | 2.3 | 2.1 | 2.2 | 2.3 | 1.8 | 2.8 | 2.7 | |
| P / Tangible Book | 2.1 | 2.4 | 3.6 | 5.5 | 5.9 | 7.4 | · | · | · | · | |
| P / Cash Flow | 7.2 | 8.5 | 11.0 | 15.0 | 17.0 | 19.0 | 15.6 | 17.3 | 13.0 | 10.0 | |
| EV / EBITDA | 12.2 | 11.7 | 14.2 | 16.8 | 18.0 | 16.0 | 26.3 | 12.2 | 11.7 | 11.3 | |
| EV / Revenue | 4.5 | 4.5 | 5.5 | 6.4 | 6.5 | 5.9 | 7.9 | 4.0 | 4.5 | 4.6 | |
| Dividend Yield | 3.3% | 3.1% | 2.3% | 1.7% | 1.8% | 1.8% | 1.7% | 1.5% | 1.6% | 1.5% | |
| Earnings Yield | 6.0% | 5.8% | 4.1% | 3.0% | 2.8% | 3.1% | 1.1% | 3.3% | 4.5% | 4.6% | |
| Payout Ratio | 57.2% | 55.5% | 56.4% | 59.0% | 66.4% | 59.4% | 145.8% | 59.5% | 36.0% | 31.3% | |
| Annual Payout | $59M | $52M | $48M | $44M | $40M | $37M | $34M | $23M | $21M | $17M |
Income Statement 13
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $183M | $194M | $241M | $198M | $168M | $198M | $225M | $176M | $149M | $171M | $205M | $157M | $137M | $171M | $176M | $149M | |
| SG&A Expense | $30M | $38M | $31M | $29M | $28M | $34M | $26M | $20M | $26M | $27M | $24M | $24M | $24M | $24M | $24M | $23M | |
| Operating Income | $37M | $33M | $65M | $44M | $36M | $44M | $58M | $41M | $28M | $36M | $57M | $31M | $25M | $50M | $38M | $26M | |
| Interest Expense | · | · | · | · | · | · | · | $18M | $18M | · | $17M | $16M | $16M | · | $14M | $14M | |
| Other Non-op | $2M | $-2M | $3M | $2M | $795.0K | $-3M | $-1M | $1M | $3M | $2M | $2M | $2M | $3M | $2M | $875.0K | $824.0K | |
| Pretax Income | $22M | $15M | $51M | $29M | $20M | $24M | $41M | $24M | $14M | $21M | $41M | $17M | $13M | $38M | $25M | $14M | |
| Income Tax | $3M | $-2M | $6M | $5M | $3M | $1M | $2M | $4M | $2M | $2M | $5M | $-2M | $1M | $5M | $223.0K | $2M | |
| Net Income | $19M | $16M | $45M | $25M | $17M | $23M | $39M | $21M | $12M | $19M | $36M | $18M | $12M | $33M | $25M | $12M | |
| EPS (Basic) | $0.50 | $0.46 | $1.27 | $0.71 | $0.49 | $0.70 | $1.17 | $0.64 | $0.36 | $0.60 | $1.14 | $0.58 | $0.37 | $1.11 | $0.83 | $0.38 | |
| EPS (Diluted) | $0.49 | $0.45 | $1.27 | $0.71 | $0.49 | $0.70 | $1.17 | $0.64 | $0.36 | $0.60 | $1.13 | $0.58 | $0.37 | $1.11 | $0.82 | $0.38 | |
| Shares (Basic) | 37,931,742 | -69,096,916 | 35,543,224 | 34,777,152 | 33,778,792 | -64,669,896 | 32,896,967 | 32,397,501 | 32,076,720 | -62,722,865 | 31,862,518 | 31,499,068 | 30,936,476 | -60,433,551 | 30,269,462 | 30,244,511 | |
| Shares (Diluted) | 38,549,353 | -69,270,253 | 35,643,826 | 34,860,349 | 33,868,565 | -64,808,480 | 32,982,580 | 32,460,894 | 32,144,579 | -62,906,753 | 31,934,636 | 31,594,494 | 31,040,897 | -60,650,574 | 30,392,295 | 30,346,040 | |
| EBITDA | $71M | · | $65M | $44M | $66M | · | $58M | $41M | $57M | · | $57M | $31M | $52M | · | $38M | $26M |
Balance Sheet 24
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $153M | $21M | $11M | $20M | $24M | $11M | $4M | $23M | $5M | · | $21M | $25M | $23M | · | $13M | $12M | |
| Receivables | $62M | $62M | $86M | $77M | $66M | $69M | $76M | $70M | $63M | · | $70M | $59M | $56M | · | $64M | $59M | |
| Prepaid Expense | $15M | $12M | $16M | $8M | $13M | $10M | $15M | $10M | $13M | · | $15M | $9M | $11M | · | $13M | $8M | |
| Other Current Assets | $8M | $8M | $7M | $7M | $8M | $9M | $5M | $6M | $6M | · | $6M | $6M | $6M | · | $6M | $4M | |
| Current Assets | $323M | $191M | $207M | $200M | $197M | $191M | $187M | $173M | $178M | · | $229M | $201M | $194M | · | $158M | $139M | |
| PP&E (Net) | $2M | $2M | $1M | $1M | $1M | $1M | · | · | · | · | · | · | · | · | · | · | |
| PP&E (Gross) | $2M | $2M | $1M | $1M | $1M | $1M | $4.45B | $4.31B | $4.22B | · | $4.07B | $3.98B | $3.90B | · | $3.80B | $3.74B | |
| Accum. Depreciation | $104.0K | $103.0K | $101.0K | $99.0K | $99.0K | $98.0K | · | · | · | · | · | · | · | · | · | · | |
| Goodwill | $640M | $640M | $640M | $640M | $640M | $640M | $640M | $640M | $640M | · | $640M | $640M | $640M | · | $640M | $640M | |
| Intangibles | · | $41M | · | · | · | $42M | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $1.03B | $1.02B | $1.00B | $991M | $982M | $978M | $958M | $970M | $967M | · | $837M | $806M | $803M | · | $813M | $807M | |
| Total Assets | $5.35B | $5.15B | $5.01B | $4.85B | $4.73B | $4.66B | $4.55B | $4.44B | $4.37B | · | $3.84B | $3.71B | $3.65B | · | $3.60B | $3.54B | |
| Accounts Payable | $63M | $75M | $61M | $48M | $47M | $56M | $44M | $38M | $34M | · | $36M | $36M | $26M | · | $30M | $27M | |
| Current Liabilities | $160M | $273M | $304M | $314M | $297M | $261M | $244M | $350M | $323M | · | $308M | $238M | $213M | · | $319M | $278M | |
| Deferred Tax | $312M | $308M | $303M | $286M | $280M | $276M | $268M | $241M | $240M | · | $235M | $229M | $220M | · | $208M | $204M | |
| Other Non-current Liabilities | $26M | $24M | $23M | $23M | $23M | $22M | $23M | $24M | $23M | · | $23M | $23M | $26M | · | $24M | $24M | |
| Long-term Debt | $1.87B | $1.90B | $1.77B | $1.71B | $1.71B | $1.72B | $1.68B | $1.56B | $1.56B | · | $1.58B | $1.56B | $1.56B | · | $1.46B | $1.49B | |
| Total Debt | $1.87B | · | $1.77B | $1.71B | $1.71B | · | $1.68B | $1.56B | $1.56B | · | $1.58B | $1.56B | $1.56B | · | $1.46B | $1.49B | |
| Common Stock | $42.0K | $36.0K | $36.0K | $35.0K | $34.0K | $34.0K | $33.0K | $33.0K | $32.0K | · | $32.0K | $32.0K | $31.0K | · | $30.0K | $30.0K | |
| Retained Earnings | $584M | $581M | $580M | $550M | $540M | $537M | $528M | $502M | $494M | · | $489M | $464M | $458M | · | $436M | $422M | |
| AOCI | $1M | $1M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | · | $2M | $2M | $2M | · | $-765.0K | $-592.0K | |
| Stockholders' Equity | $1.83B | $1.54B | $1.52B | $1.47B | $1.40B | $1.37B | $1.33B | $1.27B | $1.24B | $1.23B | $1.22B | $1.18B | $1.15B | $1.11B | $1.05B | $1.03B | |
| Liabilities + Equity | $5.35B | $5.15B | $5.01B | $4.85B | $4.73B | $4.66B | $4.55B | $4.44B | $4.37B | · | $3.84B | $3.71B | $3.65B | · | $3.60B | $3.54B | |
| Shares Outstanding | 41,839,540 | 36,118,242 | 35,805,089 | 35,287,080 | 34,182,785 | 33,629,169 | 33,226,735 | 32,668,904 | 32,201,216 | 32,023,004 | 31,933,003 | 31,731,030 | 31,427,124 | 30,801,912 | 30,315,265 | 30,247,674 |
Cash Flow 14
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $34M | $31M | $30M | $30M | $30M | $29M | $28M | $29M | $29M | $28M | $27M | $27M | $27M | $27M | $26M | $26M | |
| Stock-based Comp | $1M | $2M | $2M | $1M | $1M | $1M | $2M | $1M | $2M | $1M | $1M | $1M | $1M | $800.0K | $1M | $1M | |
| Deferred Tax | $3M | $-20M | $16M | $6M | $3M | $-17M | $26M | $629.0K | $649.0K | $-22M | $4M | $8M | $1M | $-10M | $5M | $-25.0K | |
| Other Non-cash | $-13M | · | · | · | $-7M | · | · | · | $8M | · | · | · | $10M | · | · | · | |
| Operating Cash Flow | $44M | $64M | $77M | $61M | $43M | $41M | $54M | $49M | $51M | $32M | $62M | $47M | $51M | $37M | $46M | $38M | |
| Investing Cash Flow | $-93M | $-151M | $-152M | $-133M | $-85M | $-107M | $-102M | $-57M | $-74M | $-81M | $-116M | $-70M | $-55M | $-63M | $-64M | $-68M | |
| Debt Issued | $214.0K | $120M | $65M | $0 | $0 | $35M | $125M | $0 | $25M | $0 | $0 | $0 | $70M | $40M | $0 | $15M | |
| Net Debt Issued | $-16M | · | · | · | $-1M | · | · | · | $-16M | · | · | · | $69M | · | · | · | |
| Stock Issued | $289M | $15M | $24M | $57M | $27M | $22M | $31M | $25M | $7M | $5M | $12M | $23M | $41M | $36M | $3M | $0 | |
| Net Stock Activity | $289M | · | · | · | $27M | · | · | · | $7M | · | · | · | $41M | · | · | · | |
| Dividends Paid | $16M | $15M | $15M | $15M | $14M | $13M | $13M | $13M | $13M | $12M | $12M | $12M | $12M | $11M | $11M | $11M | |
| Financing Cash Flow | $182M | $96M | $66M | $68M | $54M | $73M | $29M | $26M | $18M | $38M | $50M | $26M | $15M | $25M | $19M | $24M | |
| Net Change in Cash | $132M | $9M | $-9M | $-4M | $13M | $7M | $-19M | $18M | $-5M | $-11M | $-4M | $2M | $11M | $-846.0K | $539.0K | $-5M | |
| Taxes Paid | $165.0K | $6M | $84.0K | $-2M | $-680.0K | $-2M | $590.0K | $525.0K | $177.0K | $22M | $163.0K | $457.0K | $198.0K | $6M | $114.0K | $293.0K |
Profitability 7
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 20.4% | · | 26.9% | 22.1% | 21.4% | · | 25.9% | 23.0% | 18.7% | · | 27.6% | 19.9% | 18.3% | · | 21.4% | 17.7% | |
| Net Margin | 10.4% | · | 18.8% | 12.4% | 9.9% | · | 17.2% | 11.8% | 7.8% | · | 17.7% | 11.7% | 8.4% | · | 14.2% | 7.8% | |
| Pretax Margin | 12.2% | · | 21.2% | 14.8% | 11.9% | · | 18.0% | 13.9% | 9.3% | · | 19.9% | 10.7% | 9.2% | · | 14.3% | 9.3% | |
| EBITDA Margin | 38.8% | · | 26.9% | 22.1% | 39.1% | · | 25.9% | 23.0% | 38.0% | · | 27.6% | 19.9% | 37.9% | · | 21.4% | 17.7% | |
| ROA | 0.38% | · | 0.94% | 0.53% | 0.36% | · | 0.92% | 0.51% | 0.29% | · | 0.97% | 0.50% | 0.32% | · | 0.71% | 0.33% | |
| ROE | 1.2% | · | 3.2% | 1.8% | 1.3% | · | 3.0% | 1.7% | 0.98% | · | 3.2% | 1.7% | 1.1% | · | 2.4% | 1.1% | |
| ROIC | 0.86% | · | 1.7% | 1.2% | 0.95% | · | 1.8% | 1.2% | 0.84% | · | 1.8% | 1.2% | 0.85% | · | 1.5% | 0.87% |
Liquidity & Solvency 5
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.0 | · | 0.7 | 0.6 | 0.7 | · | 0.8 | 0.5 | 0.6 | · | 0.7 | 0.8 | 0.9 | · | 0.5 | 0.5 | |
| Quick Ratio | 1.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.3 | 0.4 | 0.4 | · | 0.2 | 0.3 | |
| Debt / Equity | 1.0 | · | 1.2 | 1.2 | 1.2 | · | 1.3 | 1.2 | 1.3 | · | 1.3 | 1.3 | 1.4 | · | 1.4 | 1.5 | |
| LT Debt / Equity | 1.0 | · | 1.2 | 1.2 | 1.2 | · | 1.3 | 1.2 | 1.2 | · | 1.3 | 1.3 | 1.3 | · | 1.4 | 1.4 | |
| Interest Coverage | · | · | · | · | · | · | · | 2.2 | 1.6 | · | 3.4 | 1.9 | 1.6 | · | 2.6 | 1.9 |
Efficiency 2
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | 0.0 | |
| Receivables Turnover | 2.9 | · | 3.0 | 2.7 | 2.6 | · | 3.1 | 2.7 | 2.5 | · | 3.1 | 2.7 | 2.5 | · | 2.9 | 2.7 |
Valuation (TTM) 13
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $790M | · | $831M | $767M | $718M | · | $755M | $687M | $648M | · | $675M | $619M | $587M | · | $616M | $593M | |
| Net Income TTM | $105M | · | $125M | $101M | $88M | · | $107M | $87M | $78M | · | $91M | $66M | $52M | · | $59M | $55M | |
| Market Cap | $2.45B | · | $1.74B | $1.83B | $1.87B | · | $1.93B | $1.77B | $1.82B | · | $1.92B | $2.22B | $2.39B | · | $1.75B | $1.89B | |
| Enterprise Value | $4.18B | · | $3.51B | $3.53B | $3.56B | · | $3.61B | $3.31B | $3.38B | · | $3.48B | $3.76B | $3.93B | · | $3.19B | $3.37B | |
| P/E | 19.8 | · | 13.4 | 17.3 | 20.6 | · | 17.6 | 20.0 | 23.2 | · | 20.7 | 32.6 | 45.0 | · | 29.4 | 34.1 | |
| P/S | 3.1 | · | 2.1 | 2.4 | 2.6 | · | 2.6 | 2.6 | 2.8 | · | 2.8 | 3.6 | 4.1 | · | 2.8 | 3.2 | |
| P/B | 1.3 | · | 1.1 | 1.3 | 1.3 | · | 1.4 | 1.4 | 1.5 | · | 1.6 | 1.9 | 2.1 | · | 1.7 | 1.8 | |
| P / Tangible Book | 2.1 | · | 2.0 | 2.2 | 2.5 | · | 2.8 | 2.8 | 3.0 | · | 3.3 | 4.1 | 4.7 | · | 4.3 | 4.8 | |
| P / Cash Flow | 56.2 | · | · | · | 43.3 | · | · | · | 35.6 | · | · | · | 47.3 | · | · | · | |
| EV / EBITDA | 58.7 | · | 54.3 | 80.4 | 54.3 | · | 61.8 | 81.5 | 59.4 | · | 61.4 | 120.8 | 75.6 | · | 84.9 | 127.7 | |
| EV / Revenue | 5.3 | · | 4.2 | 4.6 | 5.0 | · | 4.8 | 4.8 | 5.2 | · | 5.1 | 6.1 | 6.7 | · | 5.2 | 5.7 | |
| Earnings Yield | 5.1% | · | 7.5% | 5.8% | 4.9% | · | 5.7% | 5.0% | 4.3% | · | 4.8% | 3.1% | 2.2% | · | 3.4% | 2.9% | |
| Payout Ratio | 83.7% | · | · | · | 85.4% | · | · | · | 109.6% | · | · | · | 101.7% | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-09-30 | |
|---|---|---|---|---|---|
| Revenue | $801M | $748M | $670M | $621M | — |
| Operating Margin % | 22.2% | 22.8% | 22.3% | 21.1% | — |
| Net Income | $103M | $94M | $85M | $74M | — |
| Diluted EPS | $2.92 | $2.87 | $2.68 | $2.43 | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-09-30 | |
|---|---|---|---|---|---|
| Debt / Equity | 1.2 | 1.3 | 1.3 | 1.3 | — |
| Current Ratio | 0.7 | 0.7 | 0.6 | 0.6 | — |
| Quick Ratio | 0.3 | 0.3 | 0.2 | 0.3 | — |
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