Stocktoria

H2O AMERICA HTO

Nasdaq · stock · Water Supply · website · IPO 1980-03-18 · LEI

H2O AMERICA statistics & valuation

Market cap$2.5B
P / E24.8×
P / S3.2×
P / B1.6×
Dividend yield2.31%
Net margin12.7%
Return on equity6.7%
Net debt$1.9B
Net debt / EBITDA6.3×
Enterprise value USD$4.4B
EV / EBITDA14.8×
Earnings yield EBIT/EV4%
Return on capital3.6%
Graham number -15.4%$52.94

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($52.94); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
15.60% 15.20% 9.70% 5.20% 10.90% 10.50% 11.90% 12.50% 12.60% 12.70% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
28.70% 26.20% 18.50% 12.80% 20.80% 19.40% 21.10% 22.00% 22.80% 22.00% 2016201720182019202020212022202320242025
Return on equity (%)
12.50% 12.80% 4.40% 2.60% 6.70% 5.80% 6.60% 6.90% 6.90% 6.70% 2016201720182019202020212022202320242025
Shares outstanding
20.6M 20.7M 28.4M 28.6M 28.7M 30.2M 30.8M 32.0M 33.6M 36.1M 2016201720182019202020212022202320242025
Net debt ($)
$431.4M $427.2M $14.3M $1.28B $1.35B $1.51B $1.48B $1.57B $1.71B $1.88B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.70% 3.00% 2.00% 0.70% 1.90% 1.70% 2.00% 2.00% 2.00% 2.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
1.04× 0.94× 0.49× 1.45× 1.47× 1.47× 1.34× 1.28× 1.26× 1.23× 2016201720182019202020212022202320242025
EPS ($)
$2.57 $2.86 $1.82 $0.82 $2.14 $2.03 $2.43 $2.68 $2.87 $2.92 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

H2O AMERICA trades at about 21.4× earnings — below its 10-year norm (10-year range 17.5×–89.5×, median 30.9×).

17.5× 89.5×

Shaded band = 10-year range (17.5×–89.5×); dot = today's 21.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin22.0%22.8%22.0%21.1%19.4%20.8%12.8%18.5%26.2%28.7%
Net margin12.7%12.6%12.5%11.9%10.5%10.9%5.2%9.7%15.2%15.6%
Return on assets2.0%2.0%2.0%2.0%1.7%1.9%0.7%2.0%3.0%3.7%
Return on equity6.7%6.9%6.9%6.6%5.8%6.7%2.6%4.4%12.8%12.5%
Debt / equity1.23×1.26×1.28×1.34×1.47×1.47×1.45×0.49×0.94×1.04×
Current ratio0.700.730.580.590.660.360.523.070.791.57

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.