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Consolidated Water vs H2O America: revenue, profit, margins and growth compared

Consolidated Water brought in $132.1M of revenue in fiscal 2025, H2O America $805.6M in fiscal 2025. Revenue changed by -1.4% at Consolidated Water and +7.6% at H2O America on the year before, so H2O America grew faster. Consolidated Water kept 13.9% of its revenue as net profit, H2O America 12.7%.

Side by side, latest fiscal year

CWCOHTO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$132.1M$805.6M
Revenue growth-1.4%+7.6%
Net income$18.3M$102.6M
Net margin13.9%12.7%
Free cash flow$33.2Mn/a
Free cash flow margin25.1%n/a
Earnings per share (diluted)$1.14$2.92
Cash$123.8M$20.7M
Debt$73.5K$1.9B
Price to earningsn/a21.3
Market valuen/a$2.6B
Dividend yieldn/a2.70%
Rank by revenue in sector#96 of 109 · Utilities#83 of 109 · Utilities

Over the years

Revenue
CWCO FY2018: $65.7MCWCO FY2019: $68.8MCWCO FY2020: $72.6MCWCO FY2021: $66.9MCWCO FY2022: $94.1MCWCO FY2023: $180.2MCWCO FY2024: $134MCWCO FY2025: $132.1MHTO FY2018: $397.7MHTO FY2019: $447.7MHTO FY2020: $564.5MHTO FY2021: $573.7MHTO FY2022: $620.7MHTO FY2023: $678.2MHTO FY2024: $748.4MHTO FY2025: $805.6MFY18FY19FY20FY21FY22FY23FY24FY25
CWCO $132.1MHTO $805.6M
Net income
CWCO FY2018: $11.3MCWCO FY2019: $12.2MCWCO FY2020: $3.7MCWCO FY2021: $875.6KCWCO FY2022: $5.9MCWCO FY2023: $29.6MCWCO FY2024: $28.2MCWCO FY2025: $18.3MHTO FY2018: $38.8MHTO FY2019: $23.4MHTO FY2020: $61.5MHTO FY2021: $60.5MHTO FY2022: $73.8MHTO FY2023: $85MHTO FY2024: $94MHTO FY2025: $102.6MFY18FY19FY20FY21FY22FY23FY24FY25
CWCO $18.3MHTO $102.6M
Net margin
CWCO FY2018: 17.2%CWCO FY2019: 17.7%CWCO FY2020: 5.1%CWCO FY2021: 1.3%CWCO FY2022: 6.2%CWCO FY2023: 16.4%CWCO FY2024: 21.1%CWCO FY2025: 13.9%HTO FY2018: 9.7%HTO FY2019: 5.2%HTO FY2020: 10.9%HTO FY2021: 10.5%HTO FY2022: 11.9%HTO FY2023: 12.5%HTO FY2024: 12.6%HTO FY2025: 12.7%FY18FY19FY20FY21FY22FY23FY24FY25
CWCO 13.9%HTO 12.7%
Revenue growth
CWCO FY2019: +4.7%CWCO FY2020: +5.6%CWCO FY2021: -7.9%CWCO FY2022: +40.7%CWCO FY2023: +91.5%CWCO FY2024: -25.7%CWCO FY2025: -1.4%HTO FY2019: +12.6%HTO FY2020: +26.1%HTO FY2021: +1.6%HTO FY2022: +8.2%HTO FY2023: +9.3%HTO FY2024: +10.4%HTO FY2025: +7.6%FY19FY20FY21FY22FY23FY24FY25
CWCO -1.4%HTO +7.6%
Free cash flow
CWCO FY2018: -$7.2MCWCO FY2019: $11.7MCWCO FY2020: $15.6MCWCO FY2021: $5.5MCWCO FY2022: $13.8MCWCO FY2023: $2.9MCWCO FY2024: $29.8MCWCO FY2025: $33.2MFY18FY19FY20FY21FY22FY23FY24FY25
CWCO $33.2MHTO

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

Questions about Consolidated Water and H2O America

Which is bigger by revenue, Consolidated Water or H2O America?

H2O America is bigger by revenue: $805.6M in fiscal 2025, against $132.1M for Consolidated Water in fiscal 2025.

Which keeps more of its revenue as profit, Consolidated Water or H2O America?

Consolidated Water had a net margin of 13.9% in fiscal 2025; H2O America had 12.7% in fiscal 2025.

Which grew revenue faster, Consolidated Water or H2O America?

In their latest fiscal years revenue changed by -1.4% at Consolidated Water and +7.6% at H2O America.

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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