# H2O America share price today (H2O America, HTO)

> H2O America's share price has risen faster than its earnings: +31.1% in a year, against +1.7% for earnings per share. HTO · Utilities · Utilities - Regulated Water · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/hto

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: $60.64 (+31.1% in a year)
- P/E: 23.3× (higher than 68% of the last 4.6 years)
- Revenue (Jun 2026): $210 M (+6.2% on a year ago)
- Profit (Jun 2026): $26.6 M (+7.8% on a year ago)
- Operating margin: 21.3% (−1.6 points on a year ago)
- ROE: 7%, FY25
- ROIC: 3.0%, against a 4.8% cost of capital: −1.8 points

The main question: the share price moved +31.1% in a year while yearly earnings per share moved +1.7%. The difference came from the market paying a higher multiple. ## What is the H2O America share price today? H2O America's share price was $60.64 at the close on 3 November 2026. It has been rising for 3 weeks. That is 2.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between $45 and $65, and at that close it sat 77% of the way up from that low. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 7 weeks running. Over the last 10 years the share price moved +58% while the S&P 500 moved +255%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 18 September 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does H2O America pay? H2O America paid $1.72 per share over the last four reported quarters. The most recent declaration was $0.44 for Jun 2026. At today's price of $60.64 that is a yield of 2.84%, based on dividends already paid, not a forecast. ## Which stock lists is H2O America on? H2O America is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is H2O America profitable? H2O America earned $26.6 M of net profit in the Jun 2026 quarter, +7.8% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY25 profit was $103 M. Over 4 years profit has grown 14.1% a year on average. That is 12.6% of the quarter's revenue. The same quarter a year earlier earned $24.7 M. For the full year, FY25 profit was $103 M (+9.2% on the year before). Why profit moved: revenue changed +6.2% on a year earlier and the margin moved −1.6 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +2.6% and revenue +5.2%. Profit and revenue are moving at about the same pace. ## How much revenue does H2O America make, and is it growing? H2O America reported $210 M of revenue in the Jun 2026 quarter, +6.2% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 4 years it has grown 8.7% a year on average. The last full year, FY25, came in at $801 M. The last four reported quarters add to $829 M. FY25 revenue was $801 M, +7.0% on the year before. Recent pace: the last four quarters grew +5.2% on average, against 8.7% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +5.0%, against +8.7% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +4.0%, against +10.5% a year (rolling over). ## How much of every $100 of sales does H2O America keep? H2O America's operating margin was 21.3% in the Jun 2026 quarter, 1.6 percentage points lower than the same quarter a year ago. Across 5 years it has been between 18.7% and 23.7%. The latest quarter is within that range. Why: the operating margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason. ## Is H2O America's profit turning into cash? Over the last 3 years, 224% of H2O America's reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $245 M of operating cash against $103 M of profit. After $490 M of spending on assets, free cash was −$245 M: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does H2O America's cash go? H2O America does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $1.1 B on assets over the last 3 years. Averaged over those years that is 46.4% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $1.1 B over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is H2O America's P/E ratio, and how does it compare with its own history? H2O America's P/E is 23.3×, in the middle of its own history: higher than 68% of past readings. Its usual P/E (the middle reading) is 21.1×, over 4.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +1.7% while the price moved +31.1%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 3 years the price moved −2.3% a year; about −3.8% a year came from earnings growth and about +1.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the H2O America business getting better or worse? H2O America's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE steady at 3.9%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## How much does H2O America earn on its capital? H2O America earned a ROE of 7% in FY25. Its return on capital used (ROIC) is 1.8 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 12.8% net margin and 0.16× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 12.8% net margin × 0.16× asset turnover × 3.34× leverage (assets divided by equity) ≈ 6.8% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 3.0% − 4.8% = −1.8 percentage points. The 4.8% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does H2O America have too much debt? H2O America has total debt of $1.9 B against shareholder equity of $1.8 B as of Jun 2026, so its debt is 1.03× its equity. Year by year, that ratio went from 1.54 in FY21 to 1.28 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the H2O America shareholding pattern? 4.5% of H2O America's tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 3.8 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is H2O America from balance-sheet trouble? For H2O America, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does H2O America rank in its industry? 44.4 out of 100, rank 9 of 13 in Utilities - Regulated Water, with 79% of the evidence available. H2O America scores 44.4 out of 100 against the 13 companies it is compared with in Utilities - Regulated Water, ranking 9. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 12.9 + 9.5 + 11.5 + 10.5 = 44.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is H2O America compared with? H2O America ranks 9 of 13 Utilities - Regulated Water companies on the 4-Factor Sector Score, with 44.4 out of 100. 1. [American States Water Company](https://www.sectoralpha.in/us/stocks/awr) AWR · turning · Evidence leans up · 79% evidence 63.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.0/35 · Revenue 13.2% · Profit 14.4% · Operating margin change n/a · 76% evidence Capital efficiency 16.2/25 · ROCE 8.9% · Operating margin 29.5% · 76% evidence Valuation 8.4/20 · P/E 22.7× · PEG 1.9 · 65% evidence Relative strength 13.6/20 · Lead over its industry 7.8% · Lead over S&P 500 4.7% · 1 year 16.1% · 100% evidence · 5 of 12 weeks ahead Exact sum: 25 + 16.2 + 8.4 + 13.6 = 63.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Essential Utilities, Inc.](https://www.sectoralpha.in/us/stocks/wtrg) WTRG · turning · Evidence leans up · 79% evidence 62.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.9/35 · Revenue 9.9% · Profit -14.1% · Operating margin change n/a · 76% evidence Capital efficiency 13.1/25 · ROCE 4.6% · Operating margin 32.6% · 76% evidence Valuation 15.3/20 · P/E 19.6× · PEG 0.77 · 65% evidence Relative strength 19.4/20 · Lead over its industry 9.6% · Lead over S&P 500 6.1% · 1 year 11.1% · 100% evidence · 7 of 12 weeks ahead Exact sum: 14.9 + 13.1 + 15.3 + 19.4 = 62.7 · What this means: Relative strength against the index is 6.1%, and revenue and profit growth are weak. 3. [The York Water Company](https://www.sectoralpha.in/us/stocks/yorw) YORW · turning · Evidence leans up · 79% evidence 56.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.7/35 · Revenue 9.2% · Profit 20% · Operating margin change n/a · 76% evidence Capital efficiency 13.0/25 · ROCE 4.5% · Operating margin 42.8% · 76% evidence Valuation 12.0/20 · P/E 20.9× · PEG 1.24 · 65% evidence Relative strength 7.7/20 · Lead over its industry -1.6% · Lead over S&P 500 -4.8% · 1 year -1.2% · 100% evidence · 5 of 12 weeks ahead Exact sum: 23.7 + 13 + 12 + 7.7 = 56.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [American Water Works Company, Inc.](https://www.sectoralpha.in/us/stocks/awk) AWK · turning · Evidence leans up · 79% evidence 55.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.0/35 · Revenue 6.9% · Profit 4.2% · Operating margin change n/a · 76% evidence Capital efficiency 14.6/25 · ROCE 6% · Operating margin 33% · 76% evidence Valuation 4.7/20 · P/E 22.8× · PEG 3.98 · 65% evidence Relative strength 18.3/20 · Lead over its industry 8.5% · Lead over S&P 500 5% · 1 year 11.9% · 100% evidence · 7 of 12 weeks ahead Exact sum: 18 + 14.6 + 4.7 + 18.3 = 55.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Middlesex Water Company](https://www.sectoralpha.in/us/stocks/msex) MSEX · turning · Evidence leans up · 79% evidence 54.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.6/35 · Revenue 5.6% · Profit 13.9% · Operating margin change n/a · 76% evidence Capital efficiency 13.0/25 · ROCE 4.9% · Operating margin 26.7% · 76% evidence Valuation 6.4/20 · P/E 21.9× · PEG 2.92 · 65% evidence Relative strength 14.3/20 · Lead over its industry 5.1% · Lead over S&P 500 1.8% · 1 year 7.6% · 100% evidence · 2 of 12 weeks ahead Exact sum: 20.6 + 13 + 6.4 + 14.3 = 54.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Pure Cycle Corporation](https://www.sectoralpha.in/us/stocks/pcyo) PCYO · quiet · Evidence leans up · 75% evidence 51.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.2/35 · Revenue 17.9% · Profit 7.1% · Operating margin change n/a · 76% evidence Capital efficiency 12.4/25 · ROCE 7.7% · Operating margin n/a · 61% evidence Valuation 11.2/20 · P/E 16.9× · PEG 1.55 · 65% evidence Relative strength 4.8/20 · Lead over its industry -5.5% · Lead over S&P 500 -8.5% · 1 year -3.6% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.2 + 12.4 + 11.2 + 4.8 = 51.6 · What this means: Earnings are strong; relative strength in its sector is -5.5% and the one-year return is -3.6%. 7. [California Water Service Group](https://www.sectoralpha.in/us/stocks/cwt) CWT · basing · Evidence leans down · 79% evidence 45.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.5/35 · Revenue 6.5% · Profit -2.9% · Operating margin change n/a · 76% evidence Capital efficiency 8.6/25 · ROCE 4% · Operating margin 19.8% · 76% evidence Valuation 13.6/20 · P/E 21.9× · PEG 0.89 · 65% evidence Relative strength 11.2/20 · Lead over its industry 4.1% · Lead over S&P 500 0.9% · 1 year 5.4% · 100% evidence · 2 of 12 weeks ahead Exact sum: 12.5 + 8.6 + 13.6 + 11.2 = 45.9 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Artesian Resources Corporation](https://www.sectoralpha.in/us/stocks/artna) ARTNA · basing · Evidence leans down · 79% evidence 44.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.2/35 · Revenue 5.4% · Profit 9.1% · Operating margin change n/a · 76% evidence Capital efficiency 11.3/25 · ROCE 4.4% · Operating margin 27.1% · 76% evidence Valuation 7.1/20 · P/E 14.8× · PEG 2.93 · 65% evidence Relative strength 8.2/20 · Lead over its industry 0.2% · Lead over S&P 500 -2.9% · 1 year 1.8% · 100% evidence · 4 of 12 weeks ahead Exact sum: 18.2 + 11.3 + 7.1 + 8.2 = 44.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. H2O America this page HTO · quiet · Evidence leans down · 79% evidence 44.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 4.9% · Profit 2.9% · Operating margin change n/a · 76% evidence Capital efficiency 9.5/25 · ROCE 3.6% · Operating margin 21.4% · 76% evidence Valuation 11.5/20 · P/E 23.8× · PEG 1.08 · 65% evidence Relative strength 10.5/20 · Lead over its industry 4.4% · Lead over S&P 500 1.4% · 1 year 27.2% · 100% evidence · 5 of 12 weeks ahead Exact sum: 12.9 + 9.5 + 11.5 + 10.5 = 44.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Global Water Resources, Inc.](https://www.sectoralpha.in/us/stocks/gwrs) GWRS · breaking out · Evidence leans down · 79% evidence 43.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.1/35 · Revenue 15.1% · Profit -33.3% · Operating margin change n/a · 76% evidence Capital efficiency 6.8/25 · ROCE 1.8% · Operating margin 21.4% · 76% evidence Valuation 11.3/20 · P/E 66.4× · PEG 1.06 · 65% evidence Relative strength 11.0/20 · Lead over its industry -1.3% · Lead over S&P 500 -4.6% · 1 year -19.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 14.1 + 6.8 + 11.3 + 11 = 43.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Companhia de Saneamento Básico do Estado de São Paulo - SABESP](https://www.sectoralpha.in/us/stocks/sbs) SBS · quiet · Evidence leans down · 79% evidence 39.7 out of 100 Growth Capital Valuation Relative
12. [Cadiz Inc.](https://www.sectoralpha.in/us/stocks/cdzi) CDZI · turning · Too little evidence to rank firmly · 53% evidence 30.4 out of 100 Growth Capital Valuation Relative
13. [Consolidated Water Co. Ltd.](https://www.sectoralpha.in/us/stocks/cwco) CWCO · quiet · Most evidence points down · 79% evidence 28.5 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Jun 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Utilities - Regulated Water](https://www.sectoralpha.in/us/sectors/utilities-regulated-water), all 13 compared on one page. ## Which companies are close to H2O America in size? H2O America is the 6th largest of 13 Utilities - Regulated Water companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Essential Utilities, Inc., American States Water Company and California Water Service Group. Just below it: Middlesex Water Company, The York Water Company and Consolidated Water Co. ### Utilities - Regulated Water companies close in size

1. [Essential Utilities, Inc.](https://www.sectoralpha.in/us/stocks/wtrg) $12.5 billion
2. [American States Water Company](https://www.sectoralpha.in/us/stocks/awr) $3.4 billion
3. [California Water Service Group](https://www.sectoralpha.in/us/stocks/cwt) $3.1 billion
4. H2O America $2.9 billion
5. [Middlesex Water Company](https://www.sectoralpha.in/us/stocks/msex) $1.1 billion
6. [The York Water Company](https://www.sectoralpha.in/us/stocks/yorw) $514 million
7. [Consolidated Water Co. Ltd.](https://www.sectoralpha.in/us/stocks/cwco) $439 million

[All 13 Utilities - Regulated Water companies, largest first](https://www.sectoralpha.in/us/sectors/utilities-regulated-water#all-companies)

### Companies close in size in other industries

1. [Via Transportation, Inc.](https://www.sectoralpha.in/us/stocks/via) $3 billion · Software - Application
2. [Gulfport Energy Corporation](https://www.sectoralpha.in/us/stocks/gpor) $3 billion · Oil & Gas Exploration & Production
3. H2O America $3 billion
4. [Kyndryl Holdings, Inc.](https://www.sectoralpha.in/us/stocks/kd) $3 billion · Information Technology Services
5. [Warby Parker Inc.](https://www.sectoralpha.in/us/stocks/wrby) $2.9 billion · Medical Instruments & Supplies

## What else do people ask about H2O America? ### What were H2O America's latest quarterly results? H2O America reported revenue of $210 M and net profit of $26.6 M for the Jun 2026 quarter. Revenue rose 6.2% and profit rose 7.8% compared with a year earlier. Earnings per share were $0.62. The operating margin was 21.3%, 1.6 percentage points lower than a year earlier (as of 3 November 2026). ### What is H2O America's market cap? H2O America's market capitalisation is $2.9 B at a stock price of $60.64. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is H2O America performing? H2O America's share price has been rising for 3 weeks. In its latest quarter, revenue rose 6.2% and profit rose 7.8% compared with a year earlier. Over the past 13 weeks it has done worse than the S&P 500, for 7 weeks running (as of 3 November 2026). ### Will H2O America's stock price go up? This page does not forecast H2O America's stock price. What it shows instead: the stock price is $60.64, and it has been rising for 3 weeks. Its P/E of 23.3× is higher than 68% of its own last 5 years (as of 3 November 2026). ### Does H2O America have too much debt? H2O America has a moderate amount of debt: its debt is 0.95× its equity. A year-by-year history of its borrowings is not in our data, so this uses the latest reading. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is H2O America in its business cycle? H2O America's FY25 operating margin was 23.4%, against a 5-year range of 18.7% to 23.7%: the middle of its own range, neither a peak nor a low. The latest quarter was 21.3%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the H2O America story? The main question: the share price moved +31.1% in a year while yearly earnings per share moved +1.7%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is H2O America a stock worth studying right now? What the numbers show: H2O America's share price has risen faster than its earnings: +31.1% in a year, against +1.7% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.