NYSE · Financial Statements

California Water Service Group (CWT) Financial Statements

$48.04 NYSE: CWT Market Cap $2.97B

California Water Service Group most recently reported annual revenue of $1.0B, net profit of $128.0M. Revenue grew at an average annual rate of 4.7% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

California Water Service Group: Revenue rose from $609.0M in 2016 to $1.0B in 2025, a change of +64.2% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 12.5% to 18.3%, a shift of +5.8 percentage points; the most recent year shows net profit of $128.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$609.0M$667.0M$698.0M$715.0M$794.0M$791.0M$846.0M$795.0M$1.0B$1.0B
Operating Expenses$533.0M$572.0M$588.0M$615.0M$658.0M$664.0M$719.0M$717.0M$812.0M$817.0M
Operating Profit$76.0M$95.0M$111.0M$99.0M$137.0M$127.0M$128.0M$77.0M$225.0M$183.0M
Operating Margin12.5%14.2%15.8%13.9%17.2%16.0%15.1%9.7%21.7%18.3%
Other Income$-7.0M$3.0M$-29.0M$-19.0M$-28.0M$-22.0M$-26.0M$-33.0M$8.0M$-36.0M
Interest$31.0M$34.0M$38.0M$41.0M$42.0M$43.0M$44.0M$50.0M$58.0M$67.0M
Depreciation$65.0M$79.0M$86.0M$91.0M$101.0M$112.0M$117.0M$123.0M$134.0M$147.0M
Profit Before Tax$75.0M$101.0M$81.0M$81.0M$109.0M$105.0M$102.0M$45.0M$233.0M$147.0M
Tax$35.5M$33.2M$19.5M$21.9M$11.0M$3.9M$6.3M$-15.2M$18.3M$13.0M
Net Profit$49.0M$67.0M$66.0M$63.0M$97.0M$101.0M$96.0M$52.0M$191.0M$128.0M
EPS$1.01$1.52$1.36$1.31$1.97$1.96$1.77$0.91$3.25$2.15
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$255.0M$215.0M$271.0M$244.0M$300.0M$222.0M$204.0M$265.0M$311.0M$220.0M$215.0M$309.0M
Operating Expenses$212.0M$179.0M$193.0M$196.0M$233.0M$190.0M$178.0M$203.0M$226.0M$210.0M$193.0M$220.0M
Operating Profit$43.0M$35.0M$78.0M$48.0M$67.0M$32.0M$26.0M$62.0M$85.0M$10.0M$22.0M$88.0M
Operating Margin17.1%16.4%28.8%19.7%22.3%14.5%12.6%23.4%27.3%4.4%10.0%28.6%
Interest$13.0M$12.0M$15.0M$14.0M$14.0M$15.0M$16.0M$17.0M$17.0M$17.0M$19.0M$20.0M
Profit Before Tax$39.0M$20.0M$87.0M$50.0M$78.0M$18.0M$13.0M$51.0M$74.0M$7.0M$4.0M$72.0M
Tax$12.7M$-48.0M$19.5M$19.8M$22.3M$-10.1M$0$17.1M$17.1M$-74.4M$0$21.6M
Net Profit$34.0M$30.0M$70.0M$41.0M$61.0M$20.0M$13.0M$42.0M$61.0M$11.0M$4.0M$56.0M
EPS$0.60$0.52$1.21$0.70$1.03$0.33$0.22$0.71$1.03$0.19$0.07$0.93

Over the 10 years reported for California Water Service Group, borrowings increased from $655.0M in 2016 to $1.6B in 2025, cash stood at $52.0M in the latest year, shareholders' equity was $1.0M, current assets covered current liabilities 0.85 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$2.4B$2.7B$2.8B$3.2B$3.4B$3.6B$3.9B$4.7B$5.2B$5.7B
Current Assets$142.0M$228.0M$189.0M$185.0M$266.0M$300.0M$296.0M$296.0M$324.0M$354.0M
Cash$25.0M$95.0M$47.0M$43.0M$45.0M$78.0M$85.0M$85.0M$50.0M$52.0M
Inventory$6.0M$6.0M$7.0M$8.0M$9.0M$10.0M$13.0M$16.0M$21.0M$20.0M
Receivables$47.0M$49.0M$47.0M$119.0M$78.0M$132.0M$176.0M$177.0M$188.0M$165.0M
Fixed Assets$1.9B$2.0B$2.2B$2.4B$2.7B$2.8B$3.1B$3.8B$4.1B$4.6B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$57.0M$208.0M$141.0M$0$-276.0M$0$0$0$0$0
Other Assets$3.0M$3.0M$3.0M$3.0M$32.0M$37.0M$37.0M$37.0M$37.0M$37.0M
Total Liabilities$1.8B$2.0B$2.1B$2.4B$2.5B$2.5B$2.6B$3.3B$3.5B$4.0B
Current Liabilities$250.0M$491.0M$321.0M$359.0M$589.0M$272.0M$295.0M$430.0M$538.0M$418.0M
Borrowings$655.0M$807.0M$880.0M$998.0M$1.2B$1.1B$1.1B$1.2B$1.4B$1.6B
Other Liabilities$1.1B$1.2B$1.2B$1.4B$1.3B$1.4B$1.5B$2.0B$2.1B$2.4B
Equity$0$0$0$0$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Reserves$659.0M$693.0M$730.0M$780.0M$921.0M$1.2B$1.3B$1.4B$1.6B$1.7B

For California Water Service Group, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was negative at $214.0M; free cash flow was positive in 0 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$160.0M$148.0M$179.0M$169.0M$118.0M$232.0M$244.0M$218.0M$291.0M$303.0M
Investing Cash Flow$-460.0M$-466.0M$-545.0M$-550.0M$-645.0M$-594.0M$-663.0M$-773.0M$-946.0M$-1.0B
Financing Cash Flow$78.0M$11.0M$10.0M$38.0M$99.0M$16.0M$121.0M$125.0M$22.0M$67.0M
Net Cash Flow$17.0M$69.0M$-48.0M$-4.0M$2.0M$36.0M$4.0M$0$11.0M$2.0M
Free Cash Flow$-69.0M$-111.0M$-93.0M$-105.0M$-181.0M$-61.0M$-84.0M$-166.0M$-180.0M$-214.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-7.87
EV / EBITDA12.00
FCF Yield-8.29%
Quick Ratio0.67
Interest Coverage2.80
Return 1Y14.71%
Return 3Y2.45%
Return 5Y-6.70%

California Water Service Group (CWT) financials — frequently asked questions

What is California Water Service Group's annual revenue?

California Water Service Group (CWT) reported annual revenue of $1.0B in its most recent fiscal year.

What is California Water Service Group's net profit?

California Water Service Group (CWT) reported net profit of $128.0M in its most recent fiscal year.

What is CWT EV/EBITDA?

California Water Service Group's enterprise value to EBITDA (EV/EBITDA) ratio is 12.00.

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