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American States Water Company (AWR)



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Upturn Advisory Summary
09/17/2025: AWR (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $81.5
1 Year Target Price $81.5
1 | Strong Buy |
0 | Buy |
1 | Hold |
1 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -11.06% | Avg. Invested days 47 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.75B USD | Price to earnings Ratio 21.93 | 1Y Target Price 81.5 |
Price to earnings Ratio 21.93 | 1Y Target Price 81.5 | ||
Volume (30-day avg) 4 | Beta 0.63 | 52 Weeks Range 68.99 - 85.39 | Updated Date 09/17/2025 |
52 Weeks Range 68.99 - 85.39 | Updated Date 09/17/2025 | ||
Dividends yield (FY) 2.57% | Basic EPS (TTM) 3.26 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 20.26% | Operating Margin (TTM) 31.46% |
Management Effectiveness
Return on Assets (TTM) 4.87% | Return on Equity (TTM) 13.82% |
Valuation
Trailing PE 21.93 | Forward PE 20.53 | Enterprise Value 3682882036 | Price to Sales(TTM) 4.47 |
Enterprise Value 3682882036 | Price to Sales(TTM) 4.47 | ||
Enterprise Value to Revenue 5.98 | Enterprise Value to EBITDA 14.69 | Shares Outstanding 38509000 | Shares Floating 38130494 |
Shares Outstanding 38509000 | Shares Floating 38130494 | ||
Percent Insiders 0.8 | Percent Institutions 82.43 |
Upturn AI SWOT
American States Water Company
Company Overview
History and Background
American States Water Company was founded in 1929. Initially focused on water services, it has expanded to include electric services and contracted services to military bases. It has a long history of regulated utility operations in California.
Core Business Areas
- Water Service: Provides water services to approximately 261,000 customers in California. This includes providing safe and reliable water supply, distribution, and related services.
- Electric Service: Provides electric services to approximately 25,000 customers in California. This includes power distribution.
- Contracted Services: Provides water and wastewater services to military bases throughout the United States under long-term contracts.
Leadership and Structure
The company is led by a Board of Directors and an executive management team. Robert J. Sprowls serves as the President and CEO. The organizational structure reflects its regulated utility and contracted services businesses.
Top Products and Market Share
Key Offerings
- Regulated Water Services: American States Water's primary offering, providing water to residential, commercial, and industrial customers in California. Market share is substantial within its service areas, though specific figures are not readily available. Competitors include other regulated water utilities and municipal water districts. Revenue from the water service segment represented the majority of total revenue in 2023. Competitors include California Water Service Group.
- Regulated Electric Services: Supplies electricity in certain areas of California. This represents a smaller portion of overall revenue compared to water services. Competitors include Southern California Edison and Pacific Gas & Electric. Market share is significant in its specific service territory, but the territory is small compared to other utilities.
- Contracted Services to Military Bases: Provides water and wastewater services to military bases, generating stable, long-term revenue under government contracts. Competitors include Veolia North America and Suez Water North America. Market share is significant in this niche market, often securing sole provider status for base contracts. Specific number of users and revenue are not made public due to contractual agreements.
Market Dynamics
Industry Overview
The water utility industry is characterized by regulated rates, aging infrastructure, and increasing demand due to population growth and urbanization. The industry requires significant capital investment to maintain and upgrade infrastructure and comply with environmental regulations. The electric utility industry faces similar challenges, but also contends with the rise of renewable energy and smart grid technologies.
Positioning
American States Water is a well-established utility company with a strong presence in California. Its competitive advantages include its long history of reliable service, its contracted services business that provides stable revenue, and its access to capital for infrastructure investment.
Total Addressable Market (TAM)
The total addressable market for water and wastewater utilities in the US is estimated to be hundreds of billions of dollars. American States Water is positioned to capture a share of this market through organic growth, acquisitions, and continued investment in infrastructure.
Upturn SWOT Analysis
Strengths
- Stable, regulated revenue streams
- Long-term contracts with military bases
- Strong financial position
- Experienced management team
- Geographic focus in California
Weaknesses
- Dependence on California regulatory environment
- Exposure to drought conditions
- High capital expenditure requirements
- Limited geographic diversification
Opportunities
- Acquisitions of smaller water and wastewater utilities
- Expansion of contracted services to additional military bases
- Investment in infrastructure upgrades
- Advancements in water conservation technologies
- Increasing demand for water due to population growth
Threats
- Changes in regulatory policies
- Increased competition from other utility companies
- Droughts and water scarcity
- Rising interest rates
- Cybersecurity threats
Competitors and Market Share
Key Competitors
- California Water Service Group (CWT)
- Essential Utilities (WTRG)
- SJW Group (SJW)
Competitive Landscape
American States Water competes with other regulated water utilities and municipal water districts. Its competitive advantages include its long history of reliable service, its contracted services business, and its access to capital. It focuses on geographic areas and provides high-quality service. However, competitors such as California Water Service Group, Essential Utilities, and SJW Group are larger in overall market capitalization and scope.
Major Acquisitions
Vineyard Valley Water Company
- Year: 2021
- Acquisition Price (USD millions): 13.5
- Strategic Rationale: Expanded the company's water service territory and customer base in California.
Growth Trajectory and Initiatives
Historical Growth: American States Water has achieved consistent growth through organic expansion, acquisitions, and rate increases. The contracted services business has also contributed to growth.
Future Projections: Analysts project continued growth in revenue and earnings, driven by population growth, infrastructure investment, and rate increases. The contracted services business is expected to provide stable revenue.
Recent Initiatives: Recent initiatives include investments in infrastructure upgrades, water conservation programs, and acquisitions of smaller water utilities.
Summary
American States Water Company is a stable utility with a long history of providing water and electric services. Its contracted services business offers a reliable revenue stream. The company faces challenges related to regulatory oversight, drought conditions, and capital expenditure requirements. Overall, American States Water is a well-managed utility with solid growth prospects.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC Filings (10-K, 10-Q), Company Website, Analyst Reports, MarketWatch
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered investment advice. Market share data is approximate and may vary depending on the source.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About American States Water Company
Exchange NYSE | Headquaters San Dimas, CA, United States | ||
IPO Launch date 1990-03-26 | CEO, President & Director Mr. Robert J. Sprowls C.M.A. | ||
Sector Utilities | Industry Utilities - Regulated Water | Full time employees 517 | Website https://www.aswater.com |
Full time employees 517 | Website https://www.aswater.com |
American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. The company operates through three segments: Water, Electric, and Contracted Services. It purchases, produces, distributes, and sells water, as well as distributes electricity. The company provides water service to approximately 264,600 customers located within approximately 80 communities in Northern, Coastal, and Southern California; and distributes electricity to approximately 24,900 customers in the City of Big Bear Lake and surrounding areas in San Bernardino County, California. It also offers water and/or wastewater services at various military installations. American States Water Company was founded in 1929 and is headquartered in San Dimas, California.

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