American Water Works (AWK) financial statements

Utilities · Utilities - Regulated Water · Market cap $24.6B

American Water Works reported revenue of $5.1B in fiscal 2025, up 5.0% a year over 9 years.

Net income was $1.1B and the operating margin 36.6%, against 32.9% in 2016.

Free cash flow was -$1.1B, and the company returned $633M in dividends.

The diluted share count rose 9% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions.

-202462016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, from American Water Works's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue$3.3B$3.4B$3.4B$3.6B$3.8B$3.9B$3.8B$4.2B$4.7B$5.1B
Operating income$1.1B$1.3B$1.1B$1.2B$1.2B$1.2B$1.3B$1.5B$1.7B$1.9B
Interest expense——————$433M$460M$523M$615M
Pre-tax income$770M$912M$787M$833M$924M$1.6B$1.0B$1.2B$1.4B$1.4B
Income tax$302M$486M$222M$212M$215M$377M$188M$252M$308M$311M
Net income$468M$426M$567M$621M$709M$1.3B$820M$944M$1.1B$1.1B
EPS (diluted)$2.62$2.38$3.15$3.43$3.91$6.95$4.51$4.90$5.39$5.69
Diluted shares179M179M180M181M182M182M182M193M195M195M
Operating margin32.9%37.3%32.0%33.6%33.0%30.4%33.6%35.5%36.7%36.6%
Net margin14.2%12.7%16.5%17.2%18.8%32.1%21.6%22.3%22.4%21.6%

Balance sheet

Fiscal years, from American Water Works's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments$75M$55M$130M$60M$547M$116M$85M$330M$96M$98M
Receivables$269M$272M$301M$294M$321M$271M$334M$339M$416M$395M
Total current assets$784M$720M$781M$1.3B$1.9B$1.6B$1.2B$1.4B$1.2B$2.2B
Property, plant and equipment$15.0B$16.2B$17.4B$18.2B$19.7B$21.1B$23.2B$25.4B$28.0B$30.6B
Goodwill$1.3B$1.4B$1.6B$1.5B$1.5B$1.1B$1.1B$1.1B$1.1B$1.2B
Total assets$18.5B$19.5B$21.2B$22.7B$24.8B$26.1B$27.8B$30.3B$32.8B$35.4B
Total current liabilities$2.4B$2.3B$2.1B$2.0B$2.9B$2.1B$2.8B$2.2B$3.1B$4.7B
Long-term debt$5.7B$6.5B$7.6B$8.6B$9.3B$10.3B$10.9B$11.7B$12.5B$12.8B
Total liabilities$13.3B$14.1B$15.4B$16.6B$18.3B$18.8B$20.1B$20.5B$22.5B$24.6B
Shareholders' equity$5.2B$5.4B$5.9B$6.1B$6.5B$7.3B$7.7B$9.8B$10.3B$10.8B
Net debt$5.7B$6.4B$7.4B$8.6B$8.8B$10.2B$10.8B$11.4B$12.4B$12.7B

Cash flow

Fiscal years, from American Water Works's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow$1.3B$1.4B$1.4B$1.4B$1.4B$1.4B$1.1B$1.9B$2.0B$2.1B
Capital spending$1.3B$1.4B$1.6B$1.7B$1.8B$1.8B$2.3B$2.6B$2.9B$3.1B
Free cash flow-$22M$15M-$200M-$271M-$396M-$323M-$1.2B-$701M-$811M-$1.1B
Stock-based compensation$11M$11M$16M$17M$21M$17M$28M$25M$36M$32M
Dividends paid$261M$289M$319M$353M$389M$428M$467M$532M$585M$633M
Share buybacks (net)-$65M-$54M-$45M-$36M$0$0————
Net borrowing$409M$499M$832M$1.0B$992M$746M$807M$982M$962M$1.1B
Free cash flow margin-0.7%0.4%-5.8%-7.5%-10.5%-8.2%-31.4%-16.6%-17.3%-20.8%
Dividends per share$1.46$1.61$1.77$1.95$2.14$2.35$2.57$2.76$3.00$3.25
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Questions

What was American Water Works's revenue in 2025?

$5.1B in fiscal 2025, from its 10-K filing.

How much free cash flow does American Water Works generate?

-$1.1B in fiscal 2025 (operating cash flow minus capital spending).

From American Water Works's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.