H2O AMERICA (HTO) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 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 model: Water utility services including water supply, treatment, and distribution primarily through subsidiary companies
- • Strategic shift: Standard & Poor’s downgraded H2O America’s credit outlook to negative post-Quadvest acquisition announcement on July 15, 2025
Management Discussion & Analysis
- • Revenue details not explicitly provided; customer usage change: SJWC -4.6%, CWC +2.7%, TWC -3.1%, MWC +2.5% YoY
- • Capital improvements $489.6M in 2025 vs $353.0M in 2024; planned $458.0M in 2026 and $2.568B over next five years including acquisitions
Risk Factors
- • Regulatory/legal risk: Rate increases subject to approval by California and Connecticut utility commissions, impacting $44.1M authorized rate hikes in 2025
- • Geopolitical/macroeconomic threat: Valley Water's July 2025 rate hikes, +9% purchased water price, +10% groundwater extraction charge, increasing costs for SJWC
Financial SummaryXBRL
Revenue
$806M
Net Income
$103M
Operating Margin
22.0%
Net Margin
12.7%
ROE
6.7%
Total Assets
$5.1B
EPS (Diluted)
$2.92
Operating Cash Flow
$245M
Source: XBRL data from H2O AMERICA FY2025 10-K filing on SEC EDGAR. All figures in USD.
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