H2o America $HTO Read from its own SEC filings · nothing written, nothing inferred
🫧 Edgar looked up H2O AMERICA ($HTO). Last filing: 8-K (2.01 Completion of Acquisition or Disposition of Assets), 2026-10-01. 11 event filings (8-K) in the past twelve months.
🔖 Exposure: revenue $805.6M (FY2025), total debt $1.9B. Experience: revenue up 7.6% on the year, up 8.9% a year over 4 years; operating margin 22.0%, down from 22.8%. Soundness: equity 29.9% of assets, return on equity 6.7%, payout 57.2% of profit, dividend per share up 16 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $759.0M and $963.3M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $714.6M to $1.0B. A statistical range, not company guidance. Against peers (10 filers, $50M+ revenue, water supply): operating margin 22.0% against a 26.3% median; growth 7.6% against 6.1%.
Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.
Speed and cash · fiscal 2025
Both views must agree for a label · a description, not advice.
| Cash flow (op · inv · fin · free) | $245M · −$520M · $285M · — |
| Investment book (cash · short · long) | $21M · — · — · current ratio 0.70 |
| Revenue swing · equity of assets | 1.1% · 29.9% |
H2o America is growing faster than its size class, with steadier revenue. Its own audited SEC figures.
The figures, as filed
| Fiscal year end | 2025-12-31 |
| Revenue | $806M |
| Revenue, on the year | 7.6% |
| Revenue, a year over the record | 8.9% |
| Operating margin | 22.0% |
| Operating margin, prior year | 22.8% |
| Net margin | 12.7% |
| Research and development | not filed separately |
| Total debt | $1.9B |
| Equity of assets | 29.9% |
| Return on equity | 6.7% |
| Payout of profit | 57.2% |
| Dividend per share | $1.68 · up 16 years running |
| Earnings per share | $2.93 |
| Book value per share | $43.89 |
| Revenue per share | $22.95 |
| Shares outstanding | 35,102,487 |
| Audited years read | 5 |
Peers: the median of 10 filers with $50M+ revenue in water supply.
Health HarborH2o America sails as: New ship
Health watch · 12 monthsDirector or officer change ×2
Sailing speed follows growth: 9.1% a year crosses the harbor in 53 seconds.
🌊 Visit the Bay →No warning signs on the measures below.
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
- 8-K · 2026-10-01 · 2.01 Completion of Acquisition or Disposition of Assets; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits
- 10-Q · 2026-07-28
- 8-K · 2026-07-27 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits
- 8-K · 2026-06-12 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits
- 8-K · 2026-05-19 · 5.07 Submission of Matters to a Vote of Security Holders; 9.01 Financial Statements and Exhibits
- 10-Q · 2026-04-29
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company