Is H2O America (HTO) overvalued or fairly valued?

MarketChacha shows H2O America's valuation in context — a trailing P/E of about 19.2, a forward P/E of about 20.5, a price-to-book of about 1.3 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does H2O America's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.24×) from reported figures — education, not a rating.

What is H2O America's revenue?

H2O America reported revenue of $805.6M for FY2025, with net profit of $102.6M, per official filings.

What is the share price of H2O America (HTO)?

H2O America last traded at $56.86 (+1.7% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

H2O America

HTO · NYSE · Utilities · United States

Snapshot

TickerHTO

ExchangeNYSE

SectorUtilities

IndustryUtilities - Regulated Water

CountryUnited States

Employees837

HeadquartersSan Jose, United States

Websitewww.h2o-america.com

Filings tracked17

About H2O America

H2O America, through its subsidiaries, provides water utility and other related services in the United States. The company engages in production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from Valley Water District. It also offers non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services, sewer operations, and other water related services; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine. In addition, the company provides water services; owns undeveloped land in California; and commercial properties and parcels of land in Connecticut. The company was formerly known as SJW Group and changed its name to H2O America in May 2025. H2O America was incorporated in 1985 and is headquartered in San Jose, California.

Who owns it

Insiders17.6%
Institutions82.4%
Public & other0.0%

463 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.21.37%
ATLAS Infrastructure Partners (UK) Ltd.13.87%
Wellington Management Group, LLP6.00%
Antipodes Partners Ltd.5.29%
Vanguard Capital Management LLC4.73%
State Street Corporation4.68%
Cerity Partners LLC3.93%
Vanguard Portfolio Management LLC3.80%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Latest ROE of 6.7% is on the low side — the business earns a modest return on shareholder capital.

Cash conversion2.24×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend12.5% → 12.7%

Margin has held broadly steady over the period — stable profitability.

Return on equity6.7%

Latest ROE of 6.7% is on the low side — the business earns a modest return on shareholder capital.

Growth qualityrev 9% · PAT 10%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $215.3M · EPS 0.39

Est. earnings growth -15.9%

Next fiscal year

Rev $927.7M · EPS 2.72

Est. earnings growth -1.0%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$805.6M

Net margin

12.7%

ROE

6.7%

Revenue CAGR (2y)

+9.0%

Profit CAGR (2y)

+9.9%

EPS (FY2025)

2.92

Net profit (FY2025)

$102.6M

Ask MarketChacha about HTO

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$805.6M	$102.6M	2.92	12.7%	6.7%
FY2024	$736.3M	$94.0M	2.87	12.8%	6.9%
FY2023	$678.2M	$85.0M	2.68	12.5%	6.9%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q1	$179.3M	$19.0M	0.49	10.6%
2025Q3	$243.5M	$45.1M	1.27	18.5%
2025Q2	$197.8M	$24.7M	0.71	12.5%
2025Q1	$164.9M	$16.6M	0.49	10.0%
2024Q3	$216.7M	$38.7M	1.17	17.8%
2024Q2	$173.1M	$20.7M	0.64	12.0%
2024Q1	$150.0M	$11.7M	0.36	7.8%
2023Q3	$211.7M	$36.2M	1.13	17.1%
2023Q2	$159.7M	$18.3M	0.58	11.4%
2023Q1	$135.8M	$11.5M	0.37	8.5%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC7/28/2026
8-K — Results of operations, Exhibits
SEC7/27/2026material
8-K — Executive/director change, Exhibits
SEC6/12/2026material
8-K — Shareholder vote results, Exhibits
SEC5/19/2026material
10-Q filing
SEC4/29/2026
8-K — Results of operations, Exhibits
SEC4/28/2026material
8-K — Material agreement, Reg FD disclosure, Other events, Exhibits
SEC3/4/2026material
8-K — Exhibits
SEC3/2/2026material
10-K filing
SEC2/26/2026
8-K — Results of operations, Exhibits
SEC2/25/2026material

2025

8-K — Other events, Exhibits
SEC12/29/2025material
8-K — Executive/director change
SEC12/15/2025material
8-K — Results of operations, Exhibits
SEC10/28/2025material
10-Q filing
SEC10/28/2025
8-K — Material agreement, Exhibits
SEC9/16/2025material
10-Q filing
SEC7/30/2025
8-K — Results of operations, Exhibits
SEC7/29/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.