AWR

Utilities

American States Water Company · Regulated Water · $3B

UQS Score — Balanced Preset
51.8
Good

American States Water Company scores 51.8/100 using the Balanced preset.

UQS vs Utilities Sector
AWR
51.8
Sector avg
43.5
Quality
Neutral
Moat
Neutral
Growth
Neutral
Risk
Weak
Valuation
Neutral

What is American States Water Company?

American States Water Company (AWR) is a California-based utility holding company delivering water and electric services to hundreds of thousands of customers. It also operates water and wastewater systems at military installations across the United States.

AWR operates through three segments: Water, Electric, and Contracted Services. Its core business involves purchasing, producing, distributing, and selling water to residential, commercial, and industrial customers across ten California counties. The Electric segment serves mountain communities in San Bernardino County. Through its Contracted Services arm, AWR manages water and wastewater infrastructure at U.S. military bases — a long-duration, government-backed revenue stream that differentiates it from pure regulated utilities.

Incorporated in 1929, the company is headquartered in San Dimas, California.

  • Regulated water distribution across California counties
  • Electric utility service in San Bernardino County mountain areas
  • Water and wastewater operations at U.S. military installations
  • Infrastructure construction and maintenance for government contracts

Is AWR a Good Stock to Buy?

UQS Score rates AWR as Below Average overall, reflecting a mixed fundamental profile in the regulated utilities sector.

The Quality, Moat, Growth, and Valuation pillars each land at Neutral — consistent with a regulated utility that benefits from stable, government-sanctioned revenue and a degree of natural monopoly protection in its service territories. The Contracted Services segment adds a layer of revenue predictability through long-term government agreements.

The Risk pillar registers as Weak, which is the most notable flag in AWR's profile — suggesting elevated financial or operational risk relative to sector peers.

See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does AWR pay dividends?

Yes — American States Water Company pays a dividend.

AWR pays a regular dividend, consistent with the income-oriented nature of regulated utilities. The company has a long track record of dividend payments, supported by predictable rate-regulated cash flows. Investors drawn to utilities for steady income often look at AWR's dividend history as a core part of the investment case. Check the company's investor relations page for the current yield and payment schedule.

When does AWR report earnings?

American States Water Company reports earnings on a quarterly cadence, typical for U.S.-listed equities.

As a regulated utility, AWR's quarterly results tend to reflect rate case outcomes, capital investment levels, and weather-related demand patterns rather than dramatic swings. The Contracted Services segment can introduce variability tied to government contract renewals and project timelines.

For the most recent quarter's results and guidance, visit American States Water Company's investor relations page directly.

AWR Price History

+8.3% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in American States Water Company?

$
Today it would be worth
$10,650
That's a +6.5% total return, or +1.3% annualized.

Based on American States Water Company's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

AWR Long-term Outlook

AWR's Growth pillar sits at Neutral, reflecting the modest but stable expansion trajectory typical of regulated water utilities. Rate case approvals in California and ongoing military contract renewals represent the primary levers for incremental revenue growth. The Weak Risk pillar warrants attention — it suggests that near-term financial pressures or balance sheet considerations could weigh on the company's ability to fund capital programs without dilution or elevated leverage.

Growth drivers

  • California rate case approvals supporting regulated revenue increases
  • Long-term government contracts for military base water and wastewater services
  • Infrastructure investment driving regulated asset base expansion

Key risks

  • Elevated risk profile relative to sector peers, as flagged by the Weak Risk pillar
  • Regulatory lag between capital spending and approved rate recovery in California
  • Concentration in a single state for core water operations

AWR vs Peers

AWR competes within the regulated water utility space alongside several peers serving overlapping or adjacent markets.

CWTSimilar UQS
California Water Service Group

California Water Service is AWR's most direct geographic rival, also operating as a regulated water utility across California with a comparable customer base and regulatory environment.

HTOAWR scores higher
H2O America

H2O America focuses on water-related services and represents a smaller, more specialized competitor in the broader U.S. water sector.

WTTRAWR scores higher
Select Water Solutions, Inc.

Select Water Solutions operates in water management for energy producers, giving it a different end-market exposure compared to AWR's regulated utility and government-contract model.

Frequently Asked Questions

What does American States Water Company do?

American States Water Company provides regulated water and electric services to customers across California and operates water and wastewater systems at U.S. military installations. It runs three business segments: Water, Electric, and Contracted Services — the last of which is backed by long-term government agreements.

Does AWR pay dividends?

Yes, AWR pays a regular dividend. The company has maintained a consistent dividend payment history, supported by the predictable cash flows that come with regulated utility operations. For current yield and payment details, check the investor relations section of American States Water's website.

When does AWR report earnings?

AWR reports on a quarterly cadence, in line with standard U.S. equity reporting requirements. Exact dates vary each quarter. Visit American States Water Company's investor relations page for the most current earnings calendar and recent results.

Is AWR a good stock to buy?

UQS Score rates AWR as Below Average overall. While several pillars — including Quality, Moat, and Valuation — sit at Neutral, the Risk pillar registers as Weak. That combination suggests caution is warranted. Pro members can view the complete pillar breakdown to make a more informed assessment.

Is AWR overvalued?

AWR's Valuation pillar is rated Neutral, meaning it does not appear significantly stretched or deeply discounted relative to the framework's assessment. Regulated utilities often trade at premium multiples due to their income characteristics, so context matters. The full valuation metrics are available to UQS Pro members.

How does AWR compare to its competitors?

AWR's closest peer is California Water Service Group (CWT), which operates in the same regulatory environment. AWR differentiates itself through its Contracted Services segment serving military installations — a revenue stream most pure-play water utilities do not have. UQS Score provides side-by-side pillar comparisons for Pro members.

What is AWR's market cap bracket?

AWR is classified as a mid-cap stock. This places it in a range that typically attracts both income-focused and quality-oriented investors, though mid-cap utilities can carry liquidity considerations compared to large-cap peers in the sector.

Who founded American States Water Company?

American States Water Company was incorporated in 1929, making it one of the longer-standing regulated water utilities in the United States. Detailed founding history is publicly available through the company's official corporate profile and investor relations materials.

Is AWR a long-term quality investment?

From a long-term quality standpoint, AWR's Neutral ratings across Quality, Moat, and Growth suggest a stable but unexceptional fundamental profile. The Weak Risk pillar is the key concern for long-horizon investors. UQS Pro members can access the full analysis to evaluate whether AWR fits a long-term quality-focused portfolio.

What is the main competitive advantage of American States Water Company?

AWR's primary competitive advantage lies in its regulated utility status — it holds exclusive service territories in California, creating a natural barrier to competition. Its Contracted Services segment adds a second moat through long-term, government-backed agreements to operate military base water infrastructure, which are difficult for competitors to displace.

What sector does AWR belong to?

AWR operates in the Utilities sector, specifically within the regulated water utility industry. Utilities are generally characterized by stable, predictable revenues tied to regulatory approvals rather than open-market competition — a feature that shapes AWR's entire business model and financial profile.

Is AWR a growth stock or value stock?

Based on UQS pillar labels, AWR's Growth pillar is Neutral and its Valuation pillar is also Neutral — placing it in neither a clear growth nor deep-value category. It is best characterized as an income-oriented utility with modest growth expectations, typical of the regulated water utility peer group.

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Pro Analysis

AWR — Score History

4045505560Apr 2Apr 12Apr 22May 2May 12May 22May 24v5
Score changes· 24 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 23, 202651.558.754.052.035.151.00.0
May 21, 202651.558.754.052.035.151.3-0.1
May 20, 202651.658.754.052.035.151.6+0.1
May 19, 202651.558.754.052.035.151.30.0
May 16, 202651.558.754.052.035.151.4+0.1
May 14, 202651.458.754.052.035.150.60.0
May 13, 202651.458.754.052.035.150.30.0
May 11, 202651.458.754.052.035.150.6-1.3
May 10, 202652.762.554.052.035.152.6+3.9
May 8, 202648.850.954.052.031.849.3-2.2

AWR — Pillar Breakdown

Quality

58.7/100 (25%)

American States Water Company shows solid profitability with healthy returns on capital and reasonable margins.

Capital Efficiency (ROIC)Weak

How effectively capital is deployed to generate returns.

Return on EquityModerate

Profitability relative to shareholders' equity.

Operating ProfitabilityStrong

Ability to convert revenue into operating profit.

Net ProfitabilityStrong

Bottom-line profit as a share of revenue.

Gross Profit / AssetsModerate

Asset productivity — how much gross profit each dollar of assets generates.

Cash GenerationWeak

Free cash flow relative to market value.

Growth

52.0/100 (20%)

American States Water Company shows steady but unspectacular growth, typical for mature companies.

Recent Revenue TrendModerate

Revenue trajectory over the last twelve months.

3Y Revenue CAGRModerate

Compound annual revenue growth rate over 3 years.

EPS GrowthWeak

Year-over-year earnings per share growth.

Forward Revenue OutlookModerate

Analyst consensus for future revenue growth.

Forward EPS GrowthModerate

Analyst consensus for future earnings growth.

Risk

35.1/100 (15%)

American States Water Company has some risk factors including moderate leverage or solvency concerns.

Financial LeverageWeak

Debt levels relative to earnings capacity.

Debt/EquityModerate

Total debt relative to shareholder equity.

Current RatioWeak

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageWeak

Earnings capacity relative to interest payments.

Valuation

52.9/100 (15%)

American States Water Company has a mixed valuation — some metrics suggest fair value while others appear stretched.

Earnings YieldModerate

Inverse of forward P/E — higher yield means cheaper stock.

PEG RatioModerate

P/E relative to earnings growth — lower is more attractive.

EV/EBITDA vs SectorModerate

Enterprise value multiple relative to sector median.

Moat

54/100 (25%)

American States Water Company possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for AWR.

Score Composition

Quality
58.7×25%14.7
Growth
52.0×20%10.4
Risk
35.1×15%5.3
Valuation
52.9×15%7.9
Moat
54.0×25%13.5
Total
51.8Good

Financial Data

More Stock Analysis

How is the AWR UQS Score Calculated?

The UQS (Unified Quality Score) for American States Water Company is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses American States Water Company's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether American States Water Company is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.