H2O America logo HTO - H2O America

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BUY
0
BUY 4
HOLD 1
SELL 0
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| PRICE TARGET: $61.80 DETAILS
HIGH: $64.00
LOW: $60.00
MEDIAN: $61.00
CONSENSUS: $61.80
UPSIDE: 6.31%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 800.6 748.4 670.4 620.7 573.7 564.5 420.5 397.7 389.2 339.7 305.1 319.7 276.9 261.5 239.0 215.6 216.1 220.3 206.6 189.2 180.1 166.9 150.5 146.4 136.1 123.2 117.0 106 110.1 102.6 97.4 99.4 95
Cost of Revenue 426.5 323.3 281.9 263.5 255.1 247.9 196.3 187.1 176.5 144.0 125.6 137.2 134.4 120.6 105.3 99.5 83.5 90.2 86.3 50.1 49.3 46.7 42.0 45.0 41.3 33.8 31.7 27.4 28.3 26 24.2 23.7 0
Gross Profit 374.1 425.1 388.4 357.2 318.6 316.6 224.2 210.6 212.7 195.7 179.5 182.4 142.5 140.9 133.6 116.1 132.6 130.1 120.3 139.2 130.8 120.2 108.5 101.3 94.8 89.3 85.3 78.6 81.8 76.6 73.2 75.7 95
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 151.2 105.8 98.7 95.4 87.3 79.7 66.3 48.9 48.9 41.5 47.1 40.6 43.7 42.8 39.1 38.2 27.7 23.7 22.3 21.1 20.7 17.3 16.2 13.5 0 0 0 0 0 0 0 0 0
Other Expenses 41.9 148.8 140.3 130.8 120.1 119.2 100.4 88.2 61.9 56.7 52.4 49.0 45.4 42.8 40.1 39.8 75.5 73.5 68.2 71.2 65.3 63.4 55.5 57.5 67.6 65.6 55.2 48.5 52.2 50 50.1 55.5 0
Operating Expenses 193.1 254.6 239.0 226.2 207.4 198.9 166.7 137.1 110.9 98.3 99.5 89.6 89.1 85.6 79.2 78.0 103.2 97.2 90.6 92.3 85.9 80.6 71.7 70.9 67.6 65.6 55.2 48.5 52.2 50 50.1 55.5 0
Operating Income
Operating Income 181.0 170.5 149.4 131.0 111.2 117.7 57.5 73.4 101.9 97.4 80.0 92.9 53.4 55.3 54.4 38.1 29.4 32.9 29.8 46.9 44.9 39.5 36.7 30.4 27.2 23.7 30.1 30.2 29.6 26.6 23.1 20.2 0
Interest Expense 91.1 71.4 66.1 58.1 54.3 54.3 31.8 24.3 22.9 21.8 22.2 20.8 19.9 20.2 19.7 17.7 16.0 14.7 13.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 0 0 0 0 0 0 6.5 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 321.3 289.4 265.2 246.8 219.7 215.8 132.4 130.1 169.9 154.5 125.7 137.1 93.0 92.7 87.8 88.6 55.0 60.2 55.2 68.2 199.8 58.0 52.0 44.4 40.5 35.6 40.3 115.6 110.1 102.6 30.7 27.5 95
EBIT 206.0 174.3 157.1 140.4 123.2 124.2 63.9 73.2 119.4 108.2 83.3 97.6 56.4 58.0 55.1 58.8 29.4 36.2 32.3 46.9 180.1 39.5 36.7 30.4 27.2 23.7 30.1 106 110.1 102.6 23.1 20.2 95
Income Before Tax 114.9 102.9 90.9 82.3 68.8 69.9 32.1 48.8 96.5 86.4 61.2 76.8 36.5 37.9 35.4 41.1 15.2 21.5 19.3 53.9 36.6 31.4 29.2 23.9 20.3 18.1 24.8 25.7 25.3 27.7 19.3 16.3 0
Income Tax Expense 12.4 9.0 6.0 8.5 8.4 8.4 8.5 10.1 35.4 33.5 23.3 25.0 14.1 15.5 14.6 16.7 0 0 0 15.3 14.8 11.6 10.5 9.7 7.4 7.4 8.9 9.7 10.1 9.1 7.8 6.4 0
Net Income 102.6 94.0 85.0 73.8 60.5 61.5 23.4 38.8 59.2 52.8 37.9 51.8 22.4 22.3 20.9 24.4 15.2 21.5 19.3 38.6 21.8 19.8 18.7 14.2 12.9 10.7 15.9 17.1 15.2 18.6 11.5 9.9 11.8
Per Share Data
EPS (Basic) 2.93 2.80 2.69 2.44 2.04 2.16 0.82 1.83 2.89 2.59 1.86 2.56 1.13 1.20 1.12 1.32 0.82 1.17 1.05 2.11 1.20 1.09 0.95 0.13 0.77 0.58 0.87 0.84 0.13 0.16 0.59 0.51 0.10
EPS (Diluted) 2.92 2.79 2.68 2.43 2.03 2.14 0.82 1.82 2.86 2.57 1.85 2.54 1.12 1.18 1.11 1.30 0.81 1.15 1.04 2.08 1.18 1.07 0.95 0.13 0.77 0.58 0.87 0.84 0.13 0.16 0.59 0.51 0.10
Shares Outstanding 35.9 33.6 31.6 30.3 29.6 28.5 28.4 21.2 20.5 20.4 20.4 20.2 19.8 18.6 18.6 18.5 18.5 18.4 18.3 18.3 18.2 18.2 19.6 18.3 18.3 18.3 18.3 19.0 19.0 19.0 19.4 19.5 19.5
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Current Assets
Cash & Cash Equivalents 20.7 11.1 9.7 12.3 10.9 5.3 12.9 420.7 7.8 6.3 1.4 3.4 10.9 10.3 0.3 5.0 0.8 0.1 8.1 3.8 11.9 11.7 1.3
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 141.9 142.5 126.3 110.5 104.8 103.1 88.1 50.2 54.3 53.8 24.0 26.3 15.3 8.8 16.7 14.1 13.1 12.6 11.9 4.7 5.1 5.6 5.8
Inventory 0 0 0 0 0 0 0 0 56.2 0 1.0 0.9 0.6 0.5 0.5 0.5 0.4 0.4 0.4 0.5 0.6 0.6 1.7
Other Current Assets 16.4 26.8 51.3 25.8 8.7 10.9 14.4 31.8 (51.5) 39.5 0 0 1.7 7.7 1.2 0.8 0.9 0.7 0.8 6.9 3.3 3.6 4.7
Total Current Assets 190.6 190.7 198.4 158.4 134.1 127.3 122.0 502.7 66.9 99.6 28.0 32.0 28.4 27.3 18.7 20.4 15.3 13.8 21.2 15.9 20.9 21.5 13.5
Non-Current Assets
Property, Plant & Equipment 3,892.9 3,446.5 3,155.6 2,594.4 2,476.8 2,299.7 2,173.1 1,313.0 1,224.9 1,122.4 714.6 592.6 462.4 441.3 380.3 367.8 333.5 312.6 291.8 264.2 242.1 230.7 220.6
Goodwill 640.3 640.3 640.3 640.3 640.5 628.1 628.3 1.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 41.1 42.1 43.4 36.0 20.6 35.2 33.4 15.8 14.4 24.0 11.3 26.3 15.3 8.8 16.7 14.1 13.1 12.6 11.9 4.7 5.1 5.6 5.8
Long-Term Investments 19.7 18.1 16.4 14.8 15.8 14.4 12.9 0 4.5 3.4 40.5 51.1 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 365.0 320.6 290.9 311.2 204.6 206.7 162.7 123.2 147.3 194.0 84.0 167.2 57.1 45.5 52.4 41.0 41.4 44.1 44.4 41 31.3 26 26.1
Total Non-Current Assets 4,959.0 4,467.6 4,146.7 3,596.7 3,358.3 3,184.1 3,010.4 1,453.7 1,391.1 1,343.8 850.5 818.9 523.8 488.9 434.5 410.6 376.7 358.6 338.2 307.3 275.6 259 249
Total Assets 5,149.6 4,658.3 4,345.1 3,755.1 3,492.4 3,311.5 3,132.5 1,956.4 1,458.0 1,443.4 878.5 850.9 552.2 516.2 453.2 431.0 391.9 372.4 359.4 323.2 296.5 280.5 262.5
Current Liabilities
Account Payables 75.4 56.3 46.1 29.6 30.4 34.2 34.9 24.9 23.0 18.7 6.6 5.8 0.9 2.2 0.4 0.4 0.4 0.5 2.2 0.7 0.3 0.7 1
Short-Term Debt 110.3 122.8 220.5 163.9 102.1 251.3 139.5 100 25 14.3 6.9 19.1 0.3 0.3 11.4 11.5 11.2 3.3 0 0 1.5 1 6.3
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 20.9 24.4 23.9 26.6 27.8 19.2 18.3 9.1 7.9 7.0 4.7 7.8 0 0 0 0 0 0 0 0 0.1 0 (0.1)
Total Current Liabilities 273.4 261.2 343.0 268.3 203.3 350.8 234.6 164.0 85.1 63.6 32.0 43.3 15.4 15.1 23.6 24.2 26.7 16.8 11.8 8.9 9 10.8 15.2
Non-Current Liabilities
Long-Term Debt 1,866.8 1,706.9 1,526.7 1,492.0 1,492.9 1,287.6 1,283.6 431.4 431.1 433.3 246.9 216.6 143.6 143.9 110 110 90 90 90 75 75 76.5 62.5
Deferred Tax Liabilities 307.9 276.0 238.5 218.2 200.5 191.4 195.6 79.7 85.8 205.2 102.4 98.7 51.4 38.7 29.7 24.6 22.6 25.9 25.5 21.9 16.1 13.3 12.8
Other Non-Current Liabilities 1,160.7 1,047.2 1,003.5 665.7 561.2 564.5 528.7 143.2 148.3 83.2 174.2 236.7 (195.0) (182.6) (139.7) (134.6) (112.6) (115.9) (115.5) (96.9) (91.1) (89.8) (75.3)
Total Non-Current Liabilities 3,335.4 3,030.2 2,768.7 2,375.9 2,254.6 2,043.5 2,007.9 903.1 909.7 958.2 593.8 553.2 0 0 0 0 0 0 0 0 0 0 0
Total Liabilities 3,608.8 3,291.3 3,111.7 2,644.2 2,457.9 2,394.3 2,242.5 1,067.1 994.8 1,021.7 625.7 596.6 367.5 349.9 299.7 281.7 247.6 228.5 216.2 189.6 176.5 171.6 158.5
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9.6 9.6 9.5 9.5 9.5 9.5 9.5 9.5 9.9 9.9 9.9 10.2 10.2
Retained Earnings 581.1 537.2 495.4 458.4 428.3 408.0 383.2 393.9 376.1 338.4 207.9 204.7 148.5 138.1 128.2 122.4 116.2 113.1 104.6 96 88 76.6 72.1
Accumulated Other Comprehensive Income 1.5 2.0 1.8 1.5 (0.2) (1.1) 0.1 0 2.2 1.5 13.2 19.4 12.3 5.4 3.4 5.1 6.2 9.0 9.6 8.5 2.9 (0.1) (0.3)
Total Stockholders' Equity 1,540.8 1,367.0 1,233.4 1,110.9 1,034.5 917.2 890.0 889.3 463.2 421.6 252.8 254.3 184.7 166.4 153.5 149.4 144.3 143.9 143.1 133.6 120 108.9 104
Total Liabilities & Equity 5,149.6 4,658.3 4,345.1 3,755.1 3,492.4 3,311.5 3,132.5 1,956.4 1,458.0 1,443.4 878.5 850.9 552.2 516.2 453.2 431.0 391.9 372.4 359.4 323.2 296.5 280.5 262.5
Debt Metrics
Total Debt 1,977.2 1,829.7 1,747.2 1,655.9 1,595.0 1,538.9 1,423.1 531.4 456.1 447.7 253.8 235.7 143.9 144.1 121.5 121.5 101.2 93.3 90 75 76.5 77.5 68.8
Net Debt 1,956.5 1,818.6 1,737.5 1,643.6 1,584.1 1,533.6 1,410.1 110.7 448.3 441.3 252.3 232.3 133.0 133.9 121.1 116.5 100.4 93.2 81.9 71.2 64.6 65.8 67.5
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Operating Activities
Net Income 102.6 94.0 85.0 73.8 60.5 61.5 23.6 38.8 61.1 52.8 21.8 19.8 18.7 14.2 14.0 10.7 15.9 16.0 15.2 18.6 11.5 9.9
Depreciation & Amortization 120.5 115.0 108.1 106.4 96.5 91.6 68.5 56.9 50.5 46.3 0 0 0 0 0 0 0 0 0 0 0 0
Stock-Based Compensation 6.4 5.6 4.6 4.8 4.2 3.6 3.4 2.1 2.6 1.7 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital 16.3 (3.8) 3.7 (7.9) (17.2) (39.9) 36.6 2.6 6.7 22.6 (1.7) (5.0) 2.1 (2.2) (3.8) 3.1 (0.3) 1.3 (2) (3) 2.7 1.1
Other Non-Cash Items (6.2) (25.7) (2.1) (7.7) (11.1) (7.2) (0.9) 0.4 (19.4) (13.6) 20.6 16.3 14.9 14.0 13.2 11.8 7.2 8.0 8.8 3.4 7.7 7.4
Operating Cash Flow 244.8 195.5 190.8 166.2 130.0 104.1 130.0 91.3 101.1 114.6 42.6 41.2 42.0 29.1 25.5 24.0 23.6 26.9 23.9 19.3 22.2 18.5
Investing Activities
Capital Expenditure (522.9) (380.6) (290.7) (244.2) (253.8) (215.0) (182.9) (148.3) (152.4) (145.6) (51.8) (42.3) (62.2) (37.6) (48.0) (33.8) (32.4) (38.7) (24.2) (21.1) (19) (17.4)
Acquisitions 0 0 (7.5) (0.4) (23.6) 1.2 (834.7) 1.6 (1.1) (1.1) 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 (0.1) (0.3) 0 0 0 0 0 0 0 0 0 0 (4.3) 0
Sales/Maturities of Investments 2.8 0 0 0 0 0 0 4.1 0 4.5 0 0 0 0 0 0 0 0 0 4.3 2 0
Other Investing Activities (522.9) 40.5 (24.0) 0.3 17.4 (0.4) (0.1) (4.2) 39.8 20.3 3.3 6.8 4.6 (1.4) (1.3) (0.7) 4.0 2.6 (7.5) 7.5 (0.6) (1.1)
Investing Cash Flow (520.1) (340.1) (322.3) (244.3) (260.0) (214.3) (1,017.8) (146.8) (113.9) (122.1) (48.5) (35.5) (57.7) (38.9) (49.3) (34.4) (28.4) (36.1) (31.7) (9.3) (21.9) (18.5)
Financing Activities
Net Debt Issuance 149.0 83.1 77.6 62.4 58.8 114.0 501.9 75 8.1 14 1.7 (0.3) 18.3 (0.1) 20.3 7.9 3.3 15 (1.5) (1) 8.7 2.8
Stock Repurchased 0 0 0 0 0 0 (0.0) 0 0 0 (0.2) (0.1) 0 0 0 0 (7.1) (0.2) 0 (3.2) 0 0
Dividends Paid (58.6) (52.1) (47.9) (43.6) (40.1) (36.5) (34.1) (23.1) (21.3) (16.6) (9.8) (9.3) (8.9) (8.4) (7.8) (7.5) (7.4) (7.4) (7.2) (7.2) (7) (6.8)
Other Financing Activities 71.7 30.0 18.5 20.4 23.1 24.1 17.2 5.1 8.5 30.2 12.6 4.6 16.0 13.6 15.6 10.7 8.0 6.0 8.4 5.9 4.1 2.8
Financing Cash Flow 284.9 146.0 128.8 78.4 132.8 101.5 485.0 468.4 (4.8) 27.7 4.4 (5.1) 25.4 5.2 28.1 11.1 (3.2) 13.4 (0.3) (5.5) 5.8 (1.2)
Cash Position
Net Change in Cash 9.6 1.4 (2.6) 0.2 1.6 (8.7) (407.8) 412.9 (17.6) 20.1 (1.5) 0.6 9.8 (4.7) 4.2 0.7 (7.9) 4.2 (8.1) 4.5 6.1 (1.3)
Cash at Beginning 11.1 9.7 12.3 12.1 9.3 17.9 420.7 7.8 25.4 5.2 10.9 10.3 0.5 5.0 0.8 0.1 8.1 3.8 11.9 7.4 1.3 2.6
Cash at End 20.7 11.1 9.7 12.3 10.9 9.3 12.9 420.7 7.8 25.4 9.4 10.9 10.3 0.3 5.0 0.8 0.1 8.1 3.8 11.9 7.4 1.3
Free Cash Flow (278.1) (185.1) (99.9) (78.0) (123.8) (110.9) (52.9) (57.0) (51.3) (31.0) (9.1) (1.0) (20.2) (8.5) (22.5) (9.7) (8.8) (11.8) (0.3) (1.8) 3.2 1.1
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 800.6 748.4 670.4 620.7 573.7 564.5 420.5 397.7 389.2 339.7 305.1 319.7 276.9 261.5 239.0 215.6 216.1 220.3 206.6 189.2 180.1 166.9 150.5 146.4 136.1 123.2 117.0 106 110.1 102.6 97.4 99.4 95
Gross Profit 374.1 425.1 388.4 357.2 318.6 316.6 224.2 210.6 212.7 195.7 179.5 182.4 142.5 140.9 133.6 116.1 132.6 130.1 120.3 139.2 130.8 120.2 108.5 101.3 94.8 89.3 85.3 78.6 81.8 76.6 73.2 75.7 95
Operating Income 181.0 170.5 149.4 131.0 111.2 117.7 57.5 73.4 101.9 97.4 80.0 92.9 53.4 55.3 54.4 38.1 29.4 32.9 29.8 46.9 44.9 39.5 36.7 30.4 27.2 23.7 30.1 30.2 29.6 26.6 23.1 20.2 0
Net Income 102.6 94.0 85.0 73.8 60.5 61.5 23.4 38.8 59.2 52.8 37.9 51.8 22.4 22.3 20.9 24.4 15.2 21.5 19.3 38.6 21.8 19.8 18.7 14.2 12.9 10.7 15.9 17.1 15.2 18.6 11.5 9.9 11.8
EPS (Diluted) 2.92 2.79 2.68 2.43 2.03 2.14 0.82 1.82 2.86 2.57 1.85 2.54 1.12 1.18 1.11 1.30 0.81 1.15 1.04 2.08 1.18 1.07 0.95 0.13 0.77 0.58 0.87 0.84 0.13 0.16 0.59 0.51 0.10
Balance Sheet
Cash & Equivalents 20.7 11.1 9.7 12.3 10.9 5.3 12.9 420.7 7.8 6.3 1.4 3.4 10.9 10.3 0.3 5.0 0.8 0.1 8.1 3.8 11.9 11.7 1.3
Total Assets 5,149.6 4,658.3 4,345.1 3,755.1 3,492.4 3,311.5 3,132.5 1,956.4 1,458.0 1,443.4 878.5 850.9 552.2 516.2 453.2 431.0 391.9 372.4 359.4 323.2 296.5 280.5 262.5
Total Debt 1,977.2 1,829.7 1,747.2 1,655.9 1,595.0 1,538.9 1,423.1 531.4 456.1 447.7 253.8 235.7 143.9 144.1 121.5 121.5 101.2 93.3 90 75 76.5 77.5 68.8
Stockholders' Equity 1,540.8 1,367.0 1,233.4 1,110.9 1,034.5 917.2 890.0 889.3 463.2 421.6 252.8 254.3 184.7 166.4 153.5 149.4 144.3 143.9 143.1 133.6 120 108.9 104
Cash Flow
Operating Cash Flow 244.8 195.5 190.8 166.2 130.0 104.1 130.0 91.3 101.1 114.6 42.6 41.2 42.0 29.1 25.5 24.0 23.6 26.9 23.9 19.3 22.2 18.5
Capital Expenditure (522.9) (380.6) (290.7) (244.2) (253.8) (215.0) (182.9) (148.3) (152.4) (145.6) (51.8) (42.3) (62.2) (37.6) (48.0) (33.8) (32.4) (38.7) (24.2) (21.1) (19) (17.4)
Free Cash Flow (278.1) (185.1) (99.9) (78.0) (123.8) (110.9) (52.9) (57.0) (51.3) (31.0) (9.1) (1.0) (20.2) (8.5) (22.5) (9.7) (8.8) (11.8) (0.3) (1.8) 3.2 1.1