H2O America (HTO) financial statements
H2O America reported revenue of $801M in fiscal 2025, up 10.0% a year over 9 years.
Net income was $103M and the operating margin 22.2%, against 28.7% in 2016.
The diluted share count rose 70% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from H2O America's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $340M | $389M | $398M | $420M | $565M | $574M | $621M | $670M | $748M | $801M |
| Selling, general and admin | $42M | $49M | $49M | $66M | $80M | $87M | $95M | $99M | $106M | $126M |
| Operating income | $97M | $102M | $73M | $57M | $118M | $111M | $131M | $149M | $171M | $178M |
| Interest expense | $22M | $23M | $24M | $32M | $54M | $54M | $58M | $66M | $71M | $73M |
| Pre-tax income | $86M | $96M | $49M | $32M | $70M | $69M | $82M | $91M | $103M | $115M |
| Income tax | $34M | $35M | $10M | $8M | $8M | $8M | $8M | $6M | $9M | $12M |
| Net income | $53M | $59M | $39M | $23M | $62M | $60M | $74M | $85M | $94M | $103M |
| EPS (diluted) | $2.57 | $2.86 | $1.82 | $0.82 | $2.14 | $2.03 | $2.43 | $2.68 | $2.87 | $2.92 |
| Diluted shares | 21M | 21M | 21M | 29M | 29M | 30M | 30M | 32M | 33M | 35M |
| Operating margin | 28.7% | 26.2% | 18.5% | 13.7% | 20.8% | 19.4% | 21.1% | 22.3% | 22.8% | 22.2% |
| Net margin | 15.6% | 15.2% | 9.7% | 5.6% | 10.9% | 10.5% | 11.9% | 12.7% | 12.6% | 12.8% |
Balance sheet
Fiscal years, from H2O America's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $6M | $8M | $9M | $13M | $5M | $11M | $12M | $10M | $11M | $21M |
| Receivables | $16M | $17M | $19M | $36M | $47M | $54M | $59M | $68M | $69M | $62M |
| Total current assets | $100M | $67M | $503M | $122M | $127M | $134M | $158M | $198M | $191M | $191M |
| Property, plant and equipment | $50M | $45M | $44M | $44M | — | — | — | — | $1M | $2M |
| Goodwill | — | — | $2M | $628M | $628M | $640M | $640M | $640M | $640M | $640M |
| Total assets | $1.4B | $2.0B | $2.0B | $3.1B | $3.3B | $3.5B | $3.8B | $4.3B | $4.7B | $5.1B |
| Total current liabilities | $64M | $85M | $164M | $235M | $351M | $203M | $268M | $343M | $261M | $273M |
| Long-term debt | $433M | $431M | $431M | $1.3B | $1.3B | $1.5B | $1.5B | $1.5B | $1.7B | $1.9B |
| Total liabilities | $1.0B | $995M | $1.1B | $2.2B | $2.4B | $2.5B | $2.6B | $3.1B | $3.3B | $3.6B |
| Shareholders' equity | $422M | $463M | $889M | $890M | $917M | $1.0B | $1.1B | $1.2B | $1.4B | $1.5B |
| Net debt | $427M | $423M | $423M | $1.3B | $1.4B | $1.5B | $1.5B | $1.6B | $1.7B | $1.9B |
Cash flow
Fiscal years, from H2O America's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $115M | $101M | $91M | $130M | $104M | $130M | $166M | $191M | $196M | $245M |
| Stock-based compensation | $2M | $3M | $2M | $3M | $4M | $4M | $5M | $5M | $6M | $6M |
| Dividends paid | $17M | $21M | $23M | $34M | $37M | $40M | $44M | $48M | $52M | $59M |
| Net borrowing | $34M | -$3M | $0 | $589M | $56M | $171M | -$34M | $66M | $136M | $181M |
| Dividends per share | $0.80 | $1.03 | $1.08 | $1.20 | $1.27 | $1.35 | $1.43 | $1.51 | $1.59 | $1.67 |
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What was H2O America's revenue in 2025?
$801M in fiscal 2025, from its 10-K filing.
From H2O America's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.