American Water Works Company, Inc.AWK
NYSE•Utilities•Utilities - Regulated Water
American Water Works Company, Inc., through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services on military installations; and undertakes contracts with municipal customers, primarily to operate and manage water and wastewater facilities, as well as offers other related services. The company also operates approximately 80 surface water treatment plants; 520 groundwater treatment plants; 170 wastewater treatment plants; 55,000 miles of transmission, distribution, and collection mains and pipes; 1,200 groundwater wells; 1,800 water and wastewater pumping stations; 1,100 treated water storage facilities; and 75 dams. In addition, it offers water and wastewater services to 14 states serving approximately 3.6 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities, such as schools and universities; and other utilities and community water and wastewater systems. The company was founded in 1886 and is headquartered in Camden, New Jersey.
American Water Works Company, I (AWK) reported trailing twelve months revenue of $5.21B as of March 2026, a 8.1% increase year-over-year. Quarterly revenue reached $1.21B, reflecting continued top-line momentum.
American Water Works Company, I generated $1.10B in TTM net income, with quarterly EBITDA of $628.00M. The operating margin contracted from 32.5% to 32.4%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (32.4%) and net margin (16.2%) indicates significant non-operating expenses or interest burden. Net margin has narrowed from 18.0% a year ago, reflecting increased costs or interest expense.
AWK trades at a P/E of 24.6x (in line with broad market averages) and a P/S of 5.2x. The price-to-book ratio of 2.5x reflects a moderate premium to book value.
The company reported negative free cash flow of $-354.00M, indicating cash consumption over the period. The balance sheet shows $35.26B in total assets with $12.77B in long-term debt against $11.04B in stockholders equity for a debt-to-equity ratio of 1.2. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~36.4%, suggesting durable pricing power and cost discipline.
ROE is positive at ~10.0% on average, adequate but below the threshold typically associated with wide moats.
Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~19.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~36.2% — no sign of cost or pricing stress.
Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation