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

Global Water Resources brought in $55.8M of revenue in fiscal 2025, H2O America $805.6M in fiscal 2025. Revenue changed by +5.8% at Global Water Resources and +7.6% at H2O America on the year before, so H2O America grew faster. Global Water Resources kept 5.3% of its revenue as net profit, H2O America 12.7%.

Side by side, latest fiscal year

GWRSHTO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$55.8M$805.6M
Revenue growth+5.8%+7.6%
Net income$3M$102.6M
Net margin5.3%12.7%
Free cash flow-$47.2Mn/a
Free cash flow margin-84.6%n/a
Earnings per share (diluted)$0.11$2.92
Cash$4.1M$20.7M
Debt$133.7M$1.9B
Price to earnings73.621.3
Market value$233.2M$2.6B
Dividend yield3.70%2.70%
Rank by revenue in sector#101 of 109 · Utilities#83 of 109 · Utilities

Over the years

Revenue
GWRS FY2018: $35.5MGWRS FY2019: $35.5MGWRS FY2020: $38.6MGWRS FY2021: $41.9MGWRS FY2022: $44.7MGWRS FY2023: $53MGWRS FY2024: $52.7MGWRS FY2025: $55.8MHTO FY2018: $397.7MHTO FY2019: $447.7MHTO FY2020: $564.5MHTO FY2021: $573.7MHTO FY2022: $620.7MHTO FY2023: $678.2MHTO FY2024: $748.4MHTO FY2025: $805.6MFY18FY19FY20FY21FY22FY23FY24FY25
GWRS $55.8MHTO $805.6M
Net income
GWRS FY2018: $3.1MGWRS FY2019: $2.2MGWRS FY2020: $1.1MGWRS FY2021: $3.6MGWRS FY2022: $5.5MGWRS FY2023: $8MGWRS FY2024: $5.8MGWRS FY2025: $3MHTO FY2018: $38.8MHTO FY2019: $23.4MHTO FY2020: $61.5MHTO FY2021: $60.5MHTO FY2022: $73.8MHTO FY2023: $85MHTO FY2024: $94MHTO FY2025: $102.6MFY18FY19FY20FY21FY22FY23FY24FY25
GWRS $3MHTO $102.6M
Net margin
GWRS FY2018: 8.7%GWRS FY2019: 6.3%GWRS FY2020: 2.9%GWRS FY2021: 8.6%GWRS FY2022: 12.3%GWRS FY2023: 15.1%GWRS FY2024: 11.0%GWRS FY2025: 5.3%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
GWRS 5.3%HTO 12.7%
Revenue growth
GWRS FY2019: -0.1%GWRS FY2020: +8.9%GWRS FY2021: +8.5%GWRS FY2022: +6.7%GWRS FY2023: +18.6%GWRS FY2024: -0.6%GWRS FY2025: +5.8%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
GWRS +5.8%HTO +7.6%
Free cash flow
GWRS FY2018: $6.5MGWRS FY2019: $379KGWRS FY2020: $5.4MGWRS FY2021: $2.1MGWRS FY2022: -$10.6MGWRS FY2023: $3.1MGWRS FY2024: -$10.5MGWRS FY2025: -$47.2MFY18FY19FY20FY21FY22FY23FY24FY25
GWRS -$47.2MHTO

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

Questions about Global Water Resources and H2O America

Which is bigger by revenue, Global Water Resources or H2O America?

H2O America is bigger by revenue: $805.6M in fiscal 2025, against $55.8M for Global Water Resources in fiscal 2025.

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

Global Water Resources had a net margin of 5.3% in fiscal 2025; H2O America had 12.7% in fiscal 2025.

Which grew revenue faster, Global Water Resources or H2O America?

In their latest fiscal years revenue changed by +5.8% at Global Water Resources 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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