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References in this report to Registrant are to AWR and GSWC, collectively, unless otherwise specified. GSWC makes no representations as to the information contained in this report relating to AWR and its subsidiaries, other than GSWC.
30.89% operating margin is above average. ROIC at 9.27%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 10.5%, still solid.
Negative free cash flow of -$7M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$679M
▲ +10.5% YoY
Net Income (TTM)
$134M
▲ +9.4% YoY
Op. Margin
30.78%
ROIC
9.25%
▼ -0.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$38M
▲ +78.7% YoY
Op. Cash Flow (TTM)
$256M
▲ +15.6% YoY
Net Debt
$768M
Cash & Equiv.
$22M
5Y CAGR: +6.2%
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