Companies / HTO H2O America (HTO)
H2O America, through its subsidiaries, provides water utility and other related services in the United States. The company engages in production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from Valley Water District. It also offers non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services, sewer operations, and other water related services; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine. In addition, the company provides water services; owns undeveloped land in California; and commercial properties and parcels of land in Connecticut. The company was formerly known as SJW Group and changed its name to H2O America in May 2025. H2O America was incorporated in 1985 and is headquartered in San Jose, California.
Ticker HTO Exchange Nasdaq Sector Utilities Industry Utilities - Regulated Water Market cap $3.04B 52-week range $43.75 - $67.09 Valuation Share price $62.95 (close of Nov 6, 2026) P/E (TTM) 24.02x Price to book 1.38x Price to free cash flow 12.25x Enterprise value $4.56B Book value per share $45.56 Price performance Period Change 1 day +0.51% 5 days +5.37% 1 month +8.20% 3 months +1.89% 6 months +9.29% Year to date +28.50% 1 year +33.09% 3 years -2.69% 5 years -13.55% 10 years +29.02% All time +4,343.53%
Short interest As of Oct 15, 2026 Short % of float 5.12% Shares short 1.95M Days to cover 3.84 Change since prior report -3.33% Source FINRA consolidated short interest Profitability and growth Return on equity 6.66% Return on invested capital 4.70% Return on assets 1.99% Return on capital employed 3.64% Gross margin 37.68% Net margin 12.73% EBITDA margin 36.99% Revenue growth 9.41% Net income growth 9.16% Free cash flow growth 25.20% Cash flow and balance sheet Free cash flow yield (TTM) 8.16% Current ratio 1.90x Net debt to EBITDA 4.72x Latest reported year Period end Dec 31, 2025 Fiscal year 2025 Revenue $805.59M Cost of revenue $502.07M Gross profit $303.52M EBITDA $298.02M Net income $102.58M Earnings per share $2.93 Shares outstanding 35.00M Income statement by year Period end Revenue Gross profit Net income EPS 2025-12-31 $805.59M $303.52M $102.58M $2.93 2024-12-31 $736.33M $276.33M $93.97M $2.87 2023-12-31 $678.17M $248.09M $84.99M $2.69 2022-12-31 $586.92M $226.38M $73.83M $2.44 2021-12-31 $559.57M $198.49M $60.48M $2.04 2020-12-31 $549.27M $197.41M $61.52M $2.16 2019-12-31 $447.72M $123.78M $23.40M $0.82 2018-12-31 $389.30M $122.37M $38.77M $1.83 2017-12-31 $381.78M $150.79M $59.20M $2.89 2016-12-31 $328.25M $138.97M $52.84M $2.59
Margins and returns by year Period end Gross margin Net margin Return on equity Return on capital 2025-12-31 37.68% 12.73% 6.66% 4.70% 2024-12-31 37.53% 12.76% 6.87% 5.05% 2023-12-31 36.58% 12.53% 6.89% 4.81% 2022-12-31 38.57% 12.58% 6.65% 4.43% 2021-12-31 35.47% 10.81% 5.85% 4.00% 2020-12-31 35.94% 11.20% 6.71% 4.79% 2019-12-31 27.65% 5.23% 2.63% 2.23% 2018-12-31 31.43% 9.96% 4.36% 4.80% 2017-12-31 39.50% 15.51% 12.78% 7.43% 2016-12-31 42.34% 16.10% 12.53% 7.47%
Cash and debt by year Period end Cash Debt 2025-12-31 $20.69M $1.87B 2024-12-31 $11.11M $1.71B 2023-12-31 $9.72M $1.53B 2022-12-31 $12.34M $1.49B 2021-12-31 $10.91M $1.49B 2020-12-31 $5.27M $1.29B 2019-12-31 $12.94M $1.28B 2018-12-31 $420.72M $431.42M 2017-12-31 $7.80M $431.09M 2016-12-31 $6.35M $433.33M
Free cash flow by year Period end Free cash flow Stock-based compensation 2025-12-31 $244.80M $6.44M 2024-12-31 $195.53M $5.62M 2023-12-31 $190.83M $4.65M 2022-12-31 $166.20M $4.79M 2021-12-31 $130.04M $4.25M 2020-12-31 $104.05M $3.55M 2019-12-31 $130.00M $3.41M 2018-12-31 $91.34M $2.12M 2017-12-31 $101.11M $2.64M 2016-12-31 $114.57M $1.69M
Dividend history Most recent payment Aug 10, 2026 Paid in the last twelve months $1.74 Payment date Dividend per share 2026-08-10 $0.44 2026-05-11 $0.44 2026-02-09 $0.44 2025-11-10 $0.42 2025-08-11 $0.42 2025-05-12 $0.42 2025-02-10 $0.42 2024-11-04 $0.40
Investor relations Past earnings dates Reported Fiscal period EPS estimate 2026-10-26 Sep 2026 $1.06 2026-07-27 Jun 2026 $0.70 2026-04-28 Mar 2026 $0.48 2026-02-25 Dec 2025 - 2025-10-27 Sep 2025 $1.15 2025-07-28 Jun 2025 $0.71 2025-04-28 Mar 2025 $0.35 2025-02-26 Dec 2024 $0.55
Filings and sources Company website h2o-america.com SEC filings 10-K, 10-Q and 8-K on EDGAR Earnings calendar All upcoming reports Similar companies American Water Works Company, Inc. (AWK) · Atmos Energy Corp (ATO) · NiSource Inc. (NI) · Sempra (SRE) · AES Corp (AES) · Constellation Energy Corp (CEG) · Vistra Corp. (VST) · NRG Energy, Inc. (NRG)
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