American Water Works Company, Inc. (AWK) Income Statement
AWK 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAWK revenue and net income
Where AWK's revenue goes
2025Each bar shows an amount and its share of revenue. AWK kept 21.6% of revenue as net income.
AWK profit margins
AWK growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.7% | +10.7% | +6.4% | +5.0% |
| Gross profit | −21.2% | +0.4% | +0.7% | +2.4% |
| Operating income | +9.4% | +13.9% | +8.5% | +5.7% |
| Net income | +5.7% | +10.7% | +9.4% | +8.8% |
| EPS (diluted) | +5.9% | +8.8% | +7.9% | +8.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AWK quarterly EPS vs estimates
American Water beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 28, 2026 (estimate $2.11).
AWK income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.14B | $4.68B | $4.23B | $3.79B | $3.93B | $3.78B | $3.61B | $3.44B | $3.36B | $3.30B |
| Cost of revenue | $2.91B | $1.86B | $1.72B | $1.59B | $1.78B | $1.62B | $1.54B | $1.48B | $1.38B | $1.50B |
| Gross profit | $2.23B | $2.83B | $2.51B | $2.20B | $2.15B | $2.15B | $2.07B | $1.96B | $1.98B | $1.80B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | — | — | — | $1.87B | $2.10B | $1.93B | $1.82B | $1.76B | $1.64B | $1.76B |
| Total operating expenses | $348.0M | $1.11B | $1.01B | $930.0M | $957.0M | $907.0M | $852.0M | $859.0M | $735.0M | $718.0M |
| Operating income | $1.88B | $1.72B | $1.50B | $1.27B | $1.20B | $1.25B | $1.21B | $1.10B | $1.25B | $1.08B |
| Interest income | $525.0M | $94.0M | $73.0M | $381.0M | $399.0M | $395.0M | $382.0M | $350.0M | $342.0M | $325.0M |
| Interest expense | $615.0M | $523.0M | $460.0M | $433.0M | $403.0M | $397.0M | $386.0M | $361.0M | $356.0M | $339.0M |
| Income before taxes | $1.42B | $1.36B | $1.20B | $1.01B | $1.64B | $924.0M | $833.0M | $787.0M | $912.0M | $770.0M |
| Income taxes | $311.0M | $308.0M | $252.0M | $188.0M | $377.0M | $215.0M | $212.0M | $222.0M | $486.0M | $302.0M |
| Net income | $1.11B | $1.05B | $944.0M | $820.0M | $1.26B | $709.0M | $621.0M | $567.0M | $426.0M | $468.0M |
| EBITDA | $2.93B | $2.67B | $2.36B | $2.00B | $1.91B | $1.93B | $1.80B | $1.69B | $1.76B | $1.58B |
| EPS (diluted) | $5.71 | $5.39 | $4.89 | $4.43 | $3.99 | $3.90 | $3.61 | $3.31 | $3.02 | $2.85 |
| Gross margin | 43.3% | 60.3% | 59.4% | 58.1% | 54.8% | 57.1% | 57.2% | 57.0% | 59.0% | 54.5% |
| Operating margin | 36.6% | 36.7% | 35.5% | 33.6% | 30.4% | 33.0% | 33.6% | 32.0% | 37.3% | 32.7% |
| Net margin | 21.6% | 22.4% | 22.3% | 21.6% | 32.1% | 18.8% | 17.2% | 16.5% | 12.7% | 14.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.35B | $1.21B | $1.27B | $1.45B | $1.28B | $1.14B | $1.20B | $1.32B | $1.15B | $1.01B | $1.03B | $1.17B |
| Cost of revenue | $332.0M | $493.0M | $1.44B | $523.0M | $480.0M | $468.0M | $519.0M | $496.0M | $427.0M | $416.0M | $472.0M | $436.0M |
| Gross profit | $1.02B | $714.0M | −$171.0M | $928.0M | $796.0M | $674.0M | $682.0M | $827.0M | $722.0M | $595.0M | $560.0M | $731.0M |
| Total operating expenses | $481.0M | $323.0M | −$576.0M | $314.0M | $307.0M | $303.0M | $282.0M | $284.0M | $273.0M | $269.0M | $261.0M | $253.0M |
| Operating income | $542.0M | $391.0M | $405.0M | $614.0M | $489.0M | $371.0M | $400.0M | $543.0M | $449.0M | $326.0M | $299.0M | $478.0M |
| Interest income | $3.0M | $12.0M | $139.0M | $23.0M | $129.0M | $22.0M | $23.0M | $22.0M | $25.0M | $24.0M | $21.0M | $94.0M |
| Interest expense | $167.0M | $163.0M | $162.0M | $158.0M | $151.0M | $144.0M | $136.0M | $132.0M | $131.0M | $124.0M | $118.0M | $117.0M |
| Income before taxes | $405.0M | $259.0M | $282.0M | $494.0M | $376.0M | $270.0M | $303.0M | $453.0M | $361.0M | $242.0M | $218.0M | $407.0M |
| Income taxes | $90.0M | $63.0M | $44.0M | $115.0M | $87.0M | $65.0M | $64.0M | $103.0M | $84.0M | $57.0M | $47.0M | $84.0M |
| Net income | $315.0M | $196.0M | $238.0M | $379.0M | $289.0M | $205.0M | $239.0M | $350.0M | $277.0M | $185.0M | $171.0M | $323.0M |
| EBITDA | $812.0M | $659.0M | $517.0M | $878.0M | $748.0M | $630.0M | $646.0M | $785.0M | $649.0M | $523.0M | $517.0M | $701.0M |
| EPS (diluted) | $1.61 | $1.01 | $1.24 | $1.94 | $1.48 | $1.05 | $1.22 | $1.80 | $1.42 | $0.95 | $0.88 | $1.66 |
| Gross margin | 75.5% | 59.2% | −13.5% | 64.0% | 62.4% | 59.0% | 56.8% | 62.5% | 62.8% | 58.9% | 54.3% | 62.6% |
| Operating margin | 40.0% | 32.4% | 31.9% | 42.3% | 38.3% | 32.5% | 33.3% | 41.0% | 39.1% | 32.2% | 29.0% | 41.0% |
| Net margin | 23.2% | 16.2% | 18.7% | 26.1% | 22.6% | 18.0% | 19.9% | 26.5% | 24.1% | 18.3% | 16.6% | 27.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AWK's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AWK financial results
In fiscal year 2025 (ended December 31, 2025), American Water reported revenue of $5.1 billion, up 9.7% from the year before. It had net income of $1.1 billion (up 5.7%), a net profit margin of 21.6%. Diluted earnings per share came to $5.71. Over five years revenue grew at an average rate of 6.4% a year.
See the AWK stock overview for the latest quote and news, or the AWK chart for price history and technical indicators.
AWK income statement FAQ
What is American Water's annual revenue?
American Water reported total revenue of $5.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.7% from $4.7 billion the previous year.
Is American Water profitable?
Yes. American Water reported net income of $1.1 billion in fiscal 2025, a net profit margin of 21.6%; its operating margin was 36.6%.
What is American Water's gross margin?
American Water's gross margin was 43.3% in fiscal 2025: for every $100 of revenue, American Water kept $43 after the direct cost of its products and services.
How fast is American Water growing?
Revenue grew 6.4% a year on average over the last five fiscal years, from $3.8 billion to $5.1 billion.
What are American Water's earnings per share?
American Water earned $5.71 per diluted share in fiscal 2025, compared with $5.39 a year earlier.
When will American Water report its next earnings?
American Water is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 after the market closes.
When does American Water's fiscal year end?
American Water's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.