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American Water Works vs American States Water: revenue, profit, margins and growth compared

American Water Works brought in $5.1B of revenue in fiscal 2025, American States Water $658.1M in fiscal 2025. Revenue changed by +9.7% at American Water Works and +10.5% at American States Water on the year before, so American States Water grew faster. American Water Works kept 21.6% of its revenue as net profit, American States Water 19.8%. Free cash flow was -$1.1B at American Water Works and -$7.1M at American States Water.

Open the AWK pageOpen the AWR page

Side by side, latest fiscal year

AWKAWR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$5.1B$658.1M
Revenue growth+9.7%+10.5%
Net income$1.1B$130.4M
Net margin21.6%19.8%
Free cash flow-$1.1B-$7.1M
Free cash flow margin-20.8%-1.1%
Earnings per share (diluted)$5.69$3.37
Cash$98M$18.8M
Debt$12.8B$794.3M
Price to earnings23.024.6
Market value$26B$3.3B
Dividend yield2.53%2.34%
Rank by revenue in sector#40 of 109 · Utilities#85 of 109 · Utilities

Over the years

Revenue
AWK FY2018: $3.4BAWK FY2019: $3.6BAWK FY2020: $3.8BAWK FY2021: $3.9BAWK FY2022: $3.8BAWK FY2023: $4.2BAWK FY2024: $4.7BAWK FY2025: $5.1BAWR FY2018: $436.8MAWR FY2019: $473.9MAWR FY2020: $488.2MAWR FY2021: $498.9MAWR FY2022: $491.5MAWR FY2023: $595.7MAWR FY2024: $595.5MAWR FY2025: $658.1MFY18FY19FY20FY21FY22FY23FY24FY25
AWK $5.1BAWR $658.1M
Net income
AWK FY2018: $567MAWK FY2019: $621MAWK FY2020: $709MAWK FY2021: $1.3BAWK FY2022: $820MAWK FY2023: $944MAWK FY2024: $1.1BAWK FY2025: $1.1BAWR FY2018: $63.9MAWR FY2019: $84.3MAWR FY2020: $86.4MAWR FY2021: $94.3MAWR FY2022: $78.4MAWR FY2023: $124.9MAWR FY2024: $119.3MAWR FY2025: $130.4MFY18FY19FY20FY21FY22FY23FY24FY25
AWK $1.1BAWR $130.4M
Net margin
AWK FY2018: 16.5%AWK FY2019: 17.2%AWK FY2020: 18.8%AWK FY2021: 32.1%AWK FY2022: 21.6%AWK FY2023: 22.3%AWK FY2024: 22.4%AWK FY2025: 21.6%AWR FY2018: 14.6%AWR FY2019: 17.8%AWR FY2020: 17.7%AWR FY2021: 18.9%AWR FY2022: 15.9%AWR FY2023: 21.0%AWR FY2024: 20.0%AWR FY2025: 19.8%FY18FY19FY20FY21FY22FY23FY24FY25
AWK 21.6%AWR 19.8%
Revenue growth
AWK FY2019: +4.9%AWK FY2020: +4.6%AWK FY2021: +4.1%AWK FY2022: -3.5%AWK FY2023: +11.7%AWK FY2024: +10.6%AWK FY2025: +9.7%AWR FY2019: +8.5%AWR FY2020: +3.0%AWR FY2021: +2.2%AWR FY2022: -1.5%AWR FY2023: +21.2%AWR FY2024: -0.0%AWR FY2025: +10.5%FY19FY20FY21FY22FY23FY24FY25
AWK +9.7%AWR +10.5%
Free cash flow
AWK FY2018: -$200MAWK FY2019: -$271MAWK FY2020: -$396MAWK FY2021: -$323MAWK FY2022: -$1.2BAWK FY2023: -$701MAWK FY2024: -$811MAWK FY2025: -$1.1BAWR FY2018: $10.2MAWR FY2019: -$35.1MAWR FY2020: -$8.3MAWR FY2021: -$28.9MAWR FY2022: -$48.4MAWR FY2023: -$120.9MAWR FY2024: -$33.2MAWR FY2025: -$7.1MFY18FY19FY20FY21FY22FY23FY24FY25
AWK -$1.1BAWR -$7.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about American Water Works and American States Water

Which is bigger by revenue, American Water Works or American States Water?

American Water Works is bigger by revenue: $5.1B in fiscal 2025, against $658.1M for American States Water in fiscal 2025.

Which keeps more of its revenue as profit, American Water Works or American States Water?

American Water Works had a net margin of 21.6% in fiscal 2025; American States Water had 19.8% in fiscal 2025.

Which grew revenue faster, American Water Works or American States Water?

In their latest fiscal years revenue changed by +9.7% at American Water Works and +10.5% at American States Water.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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