CALIFORNIA WATER SERVICE GROUP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CALIFORNIA WATER SERVICE GROUP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	590	622	675	664	698	766	773	790	906	964
General and administrative	87.6	93.3	101	109	117	127	133	142	140	142
Operating income	82.6	107	111	99.4	137	127	128	77.1	225	170
Interest expense	33.5	36.3	39.9	44.9	45	45	46.7	52.8	60.7	70.4
Other non-operating income	-3.46	-0.22	-7.1	4.93	2.03	17.4	11.9	24.1	22.6	24.2
Income tax	26.8	36.8	15.9	17.7	12	4.09	6.38	-6.78	42.5	19.1
Net income to minority interests				0	0	-0.15	-0.75	-0.54	-0.72	-0.36
Net income	48.7	72.9	65.6	63.1	96.8	101	96	51.9	191	128
EBITDA	148	186	196	191	238	238	245	200	359	317
EPS, basic	1.02	1.52	1.36	1.31	1.97	1.96	1.77	0.91	3.26	2.15
EPS, diluted	1.01	1.52	1.36	1.31	1.97	1.96	1.77	0.91	3.25	2.15
Shares, basic (weighted)	48	48	48.1	48.2	49.3	51.6	54.3	57	58.6	59.6
Shares, diluted (weighted)	48	48	48.1	48.2	49.3	51.6	54.4	57	58.6	59.6
Dividend per share	0.69	0.72	0.75	0.79	0.85	0.92	1.00	1.04	1.12	1.24

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	25.9	94.8	47.2	42.7	44.6	78.4	62.1	39.6	50.1	51.8
Receivables	30.3	32.5	30	32.1	44	60.8	55.1	59.3	58.6	56.3
Other current assets	13.6	17.6	18.6	22.7
Total current assets	142	228	189	185	266	300	296	296	324	354
Property, plant and equipment					7.39	7.08	5.8	4.75	2.66	2.1
Lease right-of-use assets				14.4	15.6	15.3	14.8	13.4	13.3	12.2
Goodwill	2.62	2.62	2.62	2.96	31.8	36.8	36.8	37	37.1	37.1
Intangible assets	8.04	7.21	8.07	7.12	8.25	9.25	9.66	13.5	16.8	17.3
Other non-current assets	51.9	60.8	60.1	84.3	120	153	176	231	303	360
Total assets	2,412	2,745	2,838	3,111	3,394	3,623	4,265	4,596	5,180	5,671
Accounts payable	77.8	94	95.6	108	132	144	141	157	168	176
Accrued liabilities	22.6	23.9	20.2	22.5	19.5	19.2	23.2	22.5	24.3	26.6
Deferred revenue			3.2	3.33	3.31	3.05	3.1	2.99	3.45	3.18
Short-term debt	26.2	15.9	105	21.9	5.13	5.19	3.31	0.67	72.4	2.27
Total current liabilities	250	491	321	359	589	272	295	430	538	418
Long-term debt	532	516	710	787	781	1,056	1,052	1,053	1,105	1,472
Lease liabilities				12.9	13.9	13.6	13.8	12.6	12.3	11.3
Other non-current liabilities	44.9	44.4	45.2	60.4	67.1	72.5	73.6	76.8	94.2	106
Total liabilities	1,752	2,045	2,108	2,342	2,484	2,451	2,942	3,165	3,542	3,979
Total debt	558	532	815	809	786	1,061	1,056	1,053	1,177	1,474
Paid-in capital	335	336	338	362	449	651	760	877	967	973
Retained earnings	324	363	392	406	461	515	557	550	675	729
Other comprehensive income								0	-7.22	-13.9
Shareholders' equity	659	699	730	780	921
Minority interests					0	5.39	4.8	3.58	3.02	2.57
Total equity	659	699	730	769	910	1,172	1,322	1,430	1,638	1,692
Total liabilities and equity	2,412	2,745	2,838	3,111	3,394	3,623	4,265	4,596	5,180	5,671
Shares outstanding	48	48	48.1	48.5	50.3	53.7	55.6	57.7	59.5	59.6

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	48.7	72.9	65.6	63.1	96.8	101	95.3	51.4	190	128
Depreciation and amortization	65.2	78.6	85.7	91.3	101	112	117	123	134	147
Stock-based compensation	2.85	3.12	3.14	6.73	4.59	6.81	5.16	2.99	3.75	4.98
Deferred income tax	26.7	36.8	15.9	17.7	12	0.65	4.52	-6.78	29.7	17.8
Change in receivables	-0.34	-31.9	20.4	-4.58	-18.3	-12.8	-40.7	42.7	-42.3	-20.8
Change in payables	3.84	1.56	4.7	10.7	0.37	-2.94	-7.63	9.9	1.74	-19.8
Cash from operations	160	148	179	169	118	232	244	218	291	303
Acquisitions			0	0	-40.5	-6.45	0	-0.18	-1.61	0
Cash from investing	-231	-207	-273	-276	-346	-301	-336	-389	-475	-520
Debt issued	49.8	0	299	398	0	279	0	0	125	368
Debt repaid	-7	-26.8	-16.5	-406	-22.1	-5.35	-5.42	-1.81	-0.89	-70.9
Stock issued		0	0	20.4	83.6	198	107	115	89	4.04
Share buybacks	-0.74	-1.51	-1.65	-2.5	-1.68	-1.77	-2.01	-1.84	-1.44	-1.43
Dividends paid	-33.1	-34.6	-36	-38	-41.8	-47.4	-54.2	-59	-65.5	-73.9
Cash from financing	87.1	128	46.5	103	230	105	96.1	172	195	219
Net change in cash	16.6	69.4	-47.6	-4.42	1.83	35.5	4.37	-0.06	10.7	1.69
Interest paid	28	32.2	35.9	41	40.8	41.6	43.8	49.1	55.7	61.1
Income taxes paid						3.66	0	-3.5	27	12.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $46.17 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	18.5%	Operating income / revenue.
EBITDA margin	32.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	13.3%	Net income / revenue.
Operating cash flow margin	32.8%	Cash from operations / revenue.
Return on assets (ROA)	2.2%	Net income / average total assets.
Stock-based pay / revenue	0.4%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	14.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-24.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	10.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	4.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-11.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	9.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	5.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-32.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	10.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-33.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	6.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	1.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	4.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	7.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	20.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.7%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	7.4%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	7.8%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	9.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	10.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	3.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.70x	Current assets / current liabilities.
Quick ratio	0.20x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / assets	0.0%	Total debt / total assets.
Liabilities / assets	69.6%	Total liabilities / total assets.
Net debt	-$42.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.13x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.41x	Operating income / interest expense.
Working capital	-$173.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.6%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.17x	Revenue / average total assets.
Receivables turnover	13.8x	Revenue / average receivables.
Days sales outstanding	26 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.20	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$16.55	Revenue / diluted weighted shares.
Operating cash flow per share	$5.43	Cash from operations / diluted weighted shares.
Cash per share	$0.70	(Cash + short-term investments) / shares outstanding.
Payout ratio	56.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.86B	Share price x shares outstanding.
Enterprise value	$2.81B	Market cap + total debt - cash - short-term investments.
P/E	21.4x	Market cap / net income. Only when net income is positive.
P/S	2.85x	Market cap / revenue.
P/OCF	8.70x	Market cap / cash from operations, when positive.
EV/Sales	2.81x	Enterprise value / revenue.
EV/EBIT	15.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	8.55x	Enterprise value / EBITDA, when both are positive.
Earnings yield	4.7%	Net income / market cap (the inverse of P/E).
Dividend yield	2.7%	Dividends paid over the period / market cap.
Shareholder yield	2.7%	(Dividends paid + share buybacks) / market cap.
PEG	3.20x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was CALIFORNIA WATER SERVICE GROUP's revenue in fiscal 2025?

CALIFORNIA WATER SERVICE GROUP reported revenue of $963.7M for fiscal 2025, 6.4% higher than the year before.

Was CALIFORNIA WATER SERVICE GROUP profitable in fiscal 2025?

Yes. Net income was $128.2M, a net margin of 13.3%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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