H2O America
NASDAQ: HTO · UTILITIES · UTILITIES - REGULATED WATER
Updated 2026-06-05
H2O America (HTO) Financial statements
SEC filings — annual and quarterly data.
Balance sheet — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $705.86M | $767.33M | $850.88M | $878.47M | $935.36M | $1.04B | $1.09B | $1.11B | $1.27B | $1.34B | $1.44B | $1.46B | $1.96B | $3.13B | $3.31B | $3.49B | $3.76B | $4.35B | $4.66B | $5.15B |
| Cash & equivalents | $3.79M | $2.35M | $3.41M | $1.42M | $1.73M | $26.73M | $2.52M | $2.30M | $2.40M | $5.24M | $6.35M | $7.80M | $420.72M | $12.94M | $5.27M | $10.91M | $12.34M | $9.72M | $11.11M | $20.69M |
| Current assets | $59.48M | $31.59M | $31.96M | $28.01M | $38.03M | $68.92M | $42.91M | $39.65M | $68.09M | $73.38M | $99.61M | $66.86M | $502.72M | $122.05M | $127.33M | $134.09M | $158.39M | $198.39M | $190.71M | $190.59M |
| Total liabilities | $477.68M | $530.39M | $596.55M | $625.72M | $680.33M | $774.81M | $812.89M | $788.81M | $909.15M | $953.54M | $1.02B | $994.79M | $1.07B | $2.24B | $2.39B | $2.46B | $2.64B | $3.11B | $3.29B | $3.61B |
| Current liabilities | $37.25M | $32.95M | $43.32M | $31.96M | $29.16M | $28.29M | $49.11M | $59.20M | $44.69M | $79.62M | $63.57M | $85.05M | $163.99M | $234.57M | $350.80M | $203.27M | $268.32M | $342.97M | $261.17M | $273.38M |
| Long-term debt | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $1.49B | $1.49B | $1.53B | $1.71B | $1.87B |
| Shareholder equity | $228.18M | $236.93M | $254.33M | $252.76M | $255.03M | $264.00M | $274.60M | $321.18M | $360.15M | $383.78M | $421.65M | $463.21M | $889.31M | $889.98M | $917.16M | $1.03B | $1.11B | $1.23B | $1.37B | $1.54B |
| Retained earnings | $186.88M | $195.33M | $204.74M | $207.89M | $219.57M | $227.49M | $236.45M | $244.27M | $280.77M | $302.22M | $338.39M | $376.12M | $393.92M | $383.19M | $408.04M | $428.26M | $458.36M | $495.38M | $537.18M | $581.08M |
| Accounts receivable | $21.96M | $24.27M | $26.33M | $24.00M | $33.84M | $33.85M | $29.94M | $34.19M | $45.33M | $46.85M | $53.80M | $54.31M | $50.22M | $88.08M | $103.09M | $104.77M | $110.45M | $126.28M | $142.54M | $141.87M |
| Inventory | $932000.00 | $782000.00 | $933000.00 | $994000.00 | $989000.00 | $991000.00 | $1.09M | $1.04M | $1.21M | — | — | $56.21M | — | — | — | — | — | — | — | — |
| Goodwill | — | — | — | — | — | — | — | — | — | — | — | — | $1.68M | $628.29M | $628.14M | $640.47M | $640.31M | $640.31M | $640.31M | $640.31M |
Frequently asked questions
What is H2O America's revenue?
H2O America's trailing twelve-month revenue is $816.28M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is HTO?
In its most recent fiscal year, HTO ran a gross margin of 46.73%, an operating margin of 22.61%, and a net margin of 12.81%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does HTO generate?
HTO produced $-278.10M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is HTO's balance sheet healthy?
HTO holds $20.69M in cash and equivalents against $1.87B in long-term debt, on $1.54B of shareholder equity. That debt is best read against the cash flow the business throws off each year.