H2O America logo

H2O America

HTO

NASDAQUtilitiesRegulated Water

Previous close

$63.48

−$0.77 · -1.20%

Aug 21, 4:00 PM ET

Pre-market

$63.2097

−$0.2703 · -0.43%

Aug 24, 4:53 AM ET

HTO company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

67

Undervalued

Momentum

56

Neutral

Sentiment

54

Mixed

Risk resilience

84

Low Risk

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Company profile

Company website

H2O America, operating nationwide via its various subsidiaries, is a key provider of essential water utility and associated services. The company manages the entire water lifecycle, from procuring, storing, and purifying water to its distribution, wholesale, and retail sale, alongside offering wastewater management services. Its water supply is diverse, sourced from groundwater wells, surface water collected through watershed runoff and diversions, reclaimed water, and imported water acquired from the Santa Clara Valley Water District. Beyond its primary utility offerings, H2O America also delivers a suite of non-regulated services. These include the management and maintenance of water systems, various contracted services, leasing opportunities for antenna sites, and other water and sewer operational services. A notable offering is the "Linebacker protection plan," specifically tailored for its public drinking water clients in Connecticut and Maine. The company's extensive service footprint spans several regions. In California, it supplies water to approximately 232,000 connections, benefiting about one million residents in portions of San Jose and Cupertino, as well as the cities of Campbell, Monte Sereno, Saratoga, the Town of Los Gatos, and surrounding unincorporated areas of Santa Clara County. In Connecticut and Maine, H2O America serves roughly 142,000 connections, providing water to an estimated 463,000 individuals across 81 municipalities within an approximate 275-square-mile service area. Additionally, it oversees around 3,000 wastewater connections in Southbury, Connecticut. Further south, in the corridor between San Antonio and Austin, Texas, the company services approximately 29,000 water connections for about 88,000 people across an area exceeding 271 square miles, supplemented by approximately 1,000 wastewater connections. H2O America also holds various real estate assets, including undeveloped land in California and both commercial properties and land parcels situated in Connecticut. The company, which was incorporated in 1985 and is headquartered in San Jose, California, was previously known as SJW Group before officially rebranding to H2O America in May 2025.

Industry
Regulated Water
Sector
Utilities
Headquarters
US
CEO
Andrew F. Walters
Listed since
Jun 1, 1972
Employees
837

Market position

Day range

Current $63.48

52-week range

Current $63.48

Open
$64.43
Previous close
$64.25
Volume
238.48K
0.49× average
Average volume
488.6K
Average daily volume
Market cap
2.66B USD
Beta
0.33
Market reference 1
50-day average
$61.6164
+3.02% above average
200-day average
$55.714
+13.94% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
3.71B USD
P/E (TTM)
22.2×
P/B (TTM)
1.37×
P/S (TTM)
3.21×
EV / EBITDA
11.56×
Earnings yield
5.84%
Free cash flow yield
-15.82%
Dividend yield
2.74%

Profitability & efficiency

Gross margin
56.45%
Operating margin
21.53%
Net margin
12.91%
Return on equity
6.66%
Return on assets
1.99%
Return on invested capital
3.24%

Financial health

Debt / equity
1.03×
Current ratio
0.7×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends63%44%25%6%Gross margin, FY2021: 55.53%Gross margin, FY2022: 57.54%Gross margin, FY2023: 57.94%Gross margin, FY2024: 56.80%Gross margin, FY2025: 46.73%Operating margin, FY2021: 19.38%Operating margin, FY2022: 21.10%Operating margin, FY2023: 22.29%Operating margin, FY2024: 22.78%Operating margin, FY2025: 22.61%Net margin, FY2021: 10.54%Net margin, FY2022: 11.89%Net margin, FY2023: 12.68%Net margin, FY2024: 12.56%Net margin, FY2025: 12.81%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 55.53%. Gross margin FY2022 57.54%. Gross margin FY2023 57.94%. Gross margin FY2024 56.80%. Gross margin FY2025 46.73%. Operating margin FY2021 19.38%. Operating margin FY2022 21.10%. Operating margin FY2023 22.29%. Operating margin FY2024 22.78%. Operating margin FY2025 22.61%. Net margin FY2021 10.54%. Net margin FY2022 11.89%. Net margin FY2023 12.68%. Net margin FY2024 12.56%. Net margin FY2025 12.81%.

Income trends

Revenue

800.59M USD+6.97%

Operating income

180.99M USD+6.15%

Net income

102.58M USD+9.16%
Income trends across reported periods874.6M USD578.56M USD282.51M USD−13.53M USDRevenue, FY2021: 573.69M USDRevenue, FY2022: 620.7M USDRevenue, FY2023: 670.36M USDRevenue, FY2024: 748.44M USDRevenue, FY2025: 800.59M USDOperating income, FY2021: 111.16M USDOperating income, FY2022: 130.98M USDOperating income, FY2023: 149.44M USDOperating income, FY2024: 170.5M USDOperating income, FY2025: 180.99M USDNet income, FY2021: 60.48M USDNet income, FY2022: 73.83M USDNet income, FY2023: 84.99M USDNet income, FY2024: 93.97M USDNet income, FY2025: 102.58M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 573.69M USD. Revenue FY2022 620.7M USD. Revenue FY2023 670.36M USD. Revenue FY2024 748.44M USD. Revenue FY2025 800.59M USD. Operating income FY2021 111.16M USD. Operating income FY2022 130.98M USD. Operating income FY2023 149.44M USD. Operating income FY2024 170.5M USD. Operating income FY2025 180.99M USD. Net income FY2021 60.48M USD. Net income FY2022 73.83M USD. Net income FY2023 84.99M USD. Net income FY2024 93.97M USD. Net income FY2025 102.58M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue800.59M USD748.44M USD670.36M USD620.7M USD573.69M USD
Cost of goods sold426.48M USD323.32M USD281.93M USD263.52M USD255.11M USD
Gross profit374.11M USD425.12M USD388.43M USD357.17M USD318.57M USD
Selling, general, and administrative151.25M USD105.83M USD98.66M USD95.4M USD87.33M USD
Operating expenses193.12M USD254.61M USD239M USD226.2M USD207.41M USD
Interest expense91.07M USD71.39M USD66.14M USD58.06M USD54.34M USD
Depreciation and amortization115.32M USD115.05M USD108.14M USD106.44M USD96.47M USD
Operating income180.99M USD170.5M USD149.44M USD130.98M USD111.16M USD
Net income102.58M USD93.97M USD84.99M USD73.83M USD60.48M USD

Company facts updated Aug 24, 2026.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

6 ratings
Strong buy00%
Buy583%
Hold117%
Sell00%
Strong sell00%

Recent analyst actions

6 institutions
BairdmaintainOutperform
BTIGupgradeNeutralBuy
Seaport GlobalmaintainBuy
B of A SecuritiesupgradeNeutralBuy

HTO news

HTO peers

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