# The York Water Company (YORW)

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

**Price:** USD 31.69 (+3.70% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 30.56 · day 30.75–31.71 · 52w 28.26–34.81 · market cap $514M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $83.4M, net income $23.8M (28.5% margin) (SEC filings).
- Valuation: P/E 21.6x (avg 23.1x at the last 3 fiscal year-ends), EV/EBITDA 15.6x, net debt $189M.
- Earnings quality: non-operating income -$8.3M vs operating income $30.5M over the last four quarters; P/E excluding non-operating income ≈16.0x (estimate: non-operating income taxed at the company's 0% effective rate).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $266K; 1 not under a Rule 10b5-1 plan ($266K); 0 by opportunistic insiders, 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 24 Form 4 filings, $127K; 0 by opportunistic insiders, 12 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (1 analysts), mean target USD 31 (range 31–31).
- Total return with dividends: 1Y +1.0% vs S&P 500 +14.9%; 5Y -25.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.5, revenue estimate $22.6M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $55.1M | $60.1M | $71.0M | $75.0M | $77.5M | $83.4M |
| Operating income | $23.4M | $24.5M | $29.5M | $28.0M | $27.7M | $30.5M |
| Net income | $17.0M | $19.6M | $23.8M | $20.3M | $20.1M | $23.8M |
| EPS (diluted) | $1.30 | $1.40 | $1.66 | $1.42 | $1.39 | — |
| Operating margin | 42.4% | 40.8% | 41.6% | 37.4% | 35.8% | 36.6% |
| Net margin | 30.8% | 32.6% | 33.4% | 27.1% | 25.9% | 28.5% |
| Revenue growth | +2.4% | +9.0% | +18.3% | +5.5% | +3.4% | — |
| Cash + short-term investments | $1K | $1K | $1K | $1K | $1K | — |
| Total debt | $146M | $139M | $180M | $206M | $222M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 21.6x · P/E ex non-operating (est.) ≈16.0x · P/S 6.2x · EV/EBITDA 15.6x · EV/Sales 8.4x · P/B 1.8x · Earnings yield 4.63% · Dividend yield (paid, TTM) 2.51% · Net debt $189M · EV $703M
P/E at fiscal year-ends: Dec 2025 22.9x, Dec 2024 23.1x, Dec 2023 23.2x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-14 | Hand Joseph Thomas | President & CEO | 8,000 | $266K | 18.4% | No | Routine (bought in Jan & Mar & Apr & Jul & Oct each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
24 purchases, $127K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-10-20 | Velazquez David M | Director | 1,288 | $40K | 31.07 | Too little history (no open-market trades in 2023–2025) |
| 2026-10-20 | Brossman Douglas S | Director | 32 | $1K | 31.07 | Too little history (no open-market trades in 2023 or 2025) |
| 2026-09-21 | Brossman Douglas S | Director | 30 | $1K | 32.99 | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-27 | Poff Matthew E | Chief Financial Officer | 30 | $1K | 34.19 | Routine (bought in Jan & Apr & Jul & Oct each year 2023–2025; this trade is outside those months) |
| 2026-08-20 | Brossman Douglas S | Director | 30 | $1K | 33.19 | Too little history (no open-market trades in 2023 or 2025) |
| 2026-07-20 | Brossman Douglas S | Director | 32 | $1K | 30.99 | Too little history (no open-market trades in 2023 or 2025) |
| 2026-07-16 | Snyder Mark S | VP- Engineering | 11 | $0K | 29.11 | Routine (bought in Jan & Apr & Jul & Oct each year 2023–2025) |
| 2026-07-16 | Scarpato Matthew J | Chief Operating Officer | 112 | $3K | 29.11 | Too little history (no open-market trades in 2024) |
| 2026-07-16 | Poff Matthew E | Chief Financial Officer | 4 | $0K | 29.11 | Routine (bought in Jan & Apr & Jul & Oct each year 2023–2025) |
| 2026-07-16 | Hand Joseph Thomas | President & CEO | 112 | $3K | 29.11 | Routine (bought in Jan & Mar & Apr & Jul & Oct each year 2023–2025) |
| 2026-07-16 | Chiaruttini Alexandra C | CAO & General Counsel | 45 | $1K | 29.11 | Routine (bought in Jan & Apr & Jul & Oct each year 2023–2025) |
| 2026-07-16 | Becker Suzanne M | VP- Customer Service | 45 | $1K | 29.11 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-19 | Hand Joseph Thomas | President & CEO | 25 | $1K | 29.53 | Routine (bought in Jan & Mar & Apr & Jul & Oct each year 2023–2025; this trade is outside those months) |
| 2026-05-20 | Yanavitch William T. Ii | Director | 256 | $8K | 29.35 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-08 | Scarpato Matthew J | Chief Operating Officer | 700 | $21K | 29.3 | Too little history (no open-market trades in 2024) |

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 1 analysts; mean target USD 31 (low 31, high 31).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +1.0% | -25.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +1.0% | -5.8% |
| Volatility (annualized) | 20.3% | 21.1% |
| Max drawdown | -13.9% (Jan 2026→May 2026) | -35.6% (Dec 2021→May 2026) |

## Peers (Utilities - Regulated Water)
CWCO (Consolidated Water Co. Ltd.) USD 28.05 +3.31% · ARTNA (Artesian Resources Corporation) USD 34.01 +3.19% · MSEX (Middlesex Water Company) USD 55.8 +4.05% · HTO (H2O America) USD 58.66 +4.41% · CWT (California Water Service Group) USD 47.54 +3.55% · AWR (American States Water Company) USD 85.05 +3.54%

## More
Full page: https://nexqual.com/YORW · 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 |
|---|---|---|---|
| Service Line Protection Plan | $57,000 | 0.2% | +200.0% |
| Collection Services | $21,000 | 0.1% | -30.0% |
| Billing & Revenue Collection Services | $20,000 | 0.1% | +17.6% |
| Total revenue | $23.5M | 100% | — |
The lines above cover 0.4% of total revenue.

## Company outlook (8-K filed 2026-08-06)

- "During the first six months of 2026, the Company invested $21.1 million in capital projects for main extensions, wastewater treatment plant construction, and an upgrade to the enterprise software system, as well as various replacements and improvements to infrastructure and routine items."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.50 | $0.48 | +4.2% | $22.6M | 1 |
| Next quarter (ends 2026-12-31) | $0.36 | $0.39 | -7.7% | $20.6M | 1 |
| Current fiscal year (ends 2026-12-31) | $1.68 | $1.60 | +5.0% | $86.8M | 1 |
| Next fiscal year (ends 2027-12-31) | $1.89 | $1.75 | +8.0% | $92.7M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-05): ±10.6%; last 8 reports averaged ±1.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 32.0% | ±10.6% |
| 2027-03-19 | 147 | 25.4% | ±13.9% |
| 2027-06-17 | 237 | 26.0% | ±16.3% |