CWT CALIFORNIA WATER SERVICE GROUP
FY2025 10-K
CALIFORNIA WATER SERVICE GROUP (CWT) filed its fiscal year 2025 10-K annual report with the SEC on Feb 27, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Regulated water utility services funded partly by developer-funded construction projects
- • New emphasis: Developer-funded construction expenditures with refundable advances over 40 years
Management Discussion & Analysis
- • Revenue $1,000.1M in 2025, down $36.7M (-3.5%) YoY from $1,036.8M in 2024 due to lower customer usage and absence of 2024 IRMA revenue
- • Operating expenses increased $18.0M driven by water production costs +$11.5M (38.8% of total costs), administrative expenses +$2.1M, other ops +$11.6M, depreciation +$12.5M, offset by income tax expense down $24.7M
Risk Factors
- • Regulatory risk: CPUC delay on 2024 California General Rate Case (GRC) decision causing financial and operational uncertainty
- • Geopolitical/macroeconomic risk: Assembly Bill 367 in California requires backup energy and emergency plans for fire suppression starting 7/1/2030 in Ventura County
Financial SummaryXBRL
Revenue
$964M
Net Income
$128M
Operating Margin
17.7%
Net Margin
13.3%
ROE
7.6%
Total Assets
$5.7B
EPS (Diluted)
$2.15
Operating Cash Flow
$303M
Source: XBRL data from CALIFORNIA WATER SERVICE GROUP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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