# American Water Works Company, Inc. (AWK)

> Source: Nexqual · https://nexqual.com/AWK · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, American Water Works Company, Inc. (AWK), nexqual.com/AWK" · informational, not investment advice.

**Price:** USD 143.23 (+6.29% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 134.76 · day 135.04–143.27 · 52w 120.57–144.88 · market cap $28.5B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $5.27B, net income $1.13B (21.4% margin), free cash flow -$1.03B (SEC filings).
- Valuation: P/E 25.2x (avg 24.3x at the last 3 fiscal year-ends), EV/EBITDA 15.2x, net debt $15.4B.
- Earnings quality: non-operating income -$512M vs operating income $1.95B over the last four quarters; P/E excluding non-operating income ≈18.6x (estimate: non-operating income taxed at the company's 21.7% effective rate).
- 2 of 80 tracked superinvestors hold AWK (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Total return with dividends: 1Y +3.2% vs S&P 500 +14.9%; 5Y -9.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 2.05, revenue estimate $1.56B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.91B | $3.76B | $4.22B | $4.65B | $5.12B | $5.27B |
| Operating income | $1.20B | $1.27B | $1.50B | $1.72B | $1.88B | $1.95B |
| Net income | $1.26B | $820M | $944M | $1.05B | $1.11B | $1.13B |
| EPS (diluted) | $6.95 | $4.51 | $4.90 | $5.39 | $5.69 | — |
| Free cash flow | -$323M | -$1.19B | -$701M | -$811M | -$1.07B | -$1.03B |
| Operating margin | 30.6% | 33.8% | 35.7% | 36.9% | 36.7% | 37.0% |
| Net margin | 32.3% | 21.8% | 22.4% | 22.6% | 21.7% | 21.4% |
| Revenue growth | +4.6% | -3.9% | +12.1% | +10.3% | +10.1% | — |
| Cash + short-term investments | $116M | $85.0M | $330M | $96.0M | $98.0M | — |
| Total debt | $10.9B | $12.1B | $11.9B | $13.4B | $14.4B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 25.2x · P/E ex non-operating (est.) ≈18.6x · P/S 5.4x · EV/EBITDA 15.2x · EV/Sales 8.3x · P/B 2.4x · FCF yield -3.62% · Earnings yield 3.96% · Dividend yield (paid, TTM) 2.31% · Net debt $15.4B · EV $43.8B
P/E at fiscal year-ends: Dec 2025 22.9x, Dec 2024 23.1x, Dec 2023 27.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold AWK. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | 0.01% | $658K | Reduced -0.5% |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $79K | Reduced -2.3% |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Barclays | Target lowered | Underweight | $130 → $127 |
| 2026-10-16 | UBS | Target lowered | Buy | $162 → $153 |
| 2026-09-10 | UBS | Target raised | Buy | $156 → $162 |
| 2026-08-04 | Truist Securities | Target lowered | Hold | $139 → $138 |
| 2026-07-31 | Mizuho | Target raised | Neutral | $130 → $140 |
| 2026-07-15 | Barclays | Target raised | Underweight | $124 → $130 |
| 2026-07-08 | JP Morgan | Target raised | Neutral | $138 → $147 |
| 2026-07-02 | UBS | Target raised | Buy | $140 → $150 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +3.2% | -9.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +3.2% | -1.9% |
| Volatility (annualized) | 23.1% | 23.1% |
| Max drawdown | -13.3% (Oct 2025→Jun 2026) | -36.7% (Dec 2021→Oct 2023) |

## Peers (Utilities - Regulated Water)
SBS (Companhia de saneamento Basico ) USD 6.27 -0.79% · WTRG (Essential Utilities, Inc.) USD 43.3 +6.28% · AWR (American States Water Company) USD 85.05 +3.54% · CWT (California Water Service Group) USD 47.54 +3.55% · HTO (H2O America) USD 58.66 +4.41% · MSEX (Middlesex Water Company) USD 55.8 +4.05%

## More
Full page: https://nexqual.com/AWK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Water Services | $1.14B | 84.3% | +8.2% |
| Wastewater Services | $113.0M | 8.4% | +5.6% |
| Miscellaneous Utility Charge | $12.0M | 0.9% | -14.3% |
| Total revenue | $1.35B | 100% | — |
The lines above cover 93.6% of total revenue.

## Company outlook (8-K filed 2026-07-29)

- "Guidance and Long-Term Financial Targets Affirmed The company affirms its 2026 adjusted earnings per share ("EPS") guidance range of $6.02 to $6.12 (non-GAAP)."
- "The 2026 adjusted EPS guidance range does not include (i) transaction costs to be incurred by the company during 2026 related to the proposed merger with Essential Utilities, Inc."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.05 | $2.10 | -2.2% | $1.56B | 7 |
| Next quarter (ends 2026-12-31) | $1.42 | $1.41 | +0.5% | $1.23B | 5 |
| Current fiscal year (ends 2026-12-31) | $6.08 | $6.08 | +0.0% | $5.41B | 11 |
| Next fiscal year (ends 2027-12-31) | $6.57 | $6.57 | +0.0% | $5.77B | 10 |