American Water Works Company, Inc. (AWK) Key Metrics
AWK valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $26.82B
- Enterprise value
- $42.31B
- P/E (TTM)
- 23.4 10-yr median 28.2
- Forward P/E
- 20.0
- PEG ratio
- 2.36
- Price / sales
- 5.1 10-yr median 5.6
- Price / book
- 2.3 10-yr median 2.9
- EV / EBITDA
- 14.0 10-yr median 15.3
- Dividend yield
- 2.65% $3.58 a year
- Beta
- 0.57
AWK key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAWK valuation Price multiples at each fiscal year-end price.
AWK returns How much profit the business earns on the capital it uses.
AWK per-share figures Results divided by the shares outstanding at year-end.
AWK financial health Debt, liquidity and how easily interest is covered.
AWK efficiency & capital use Working capital cycle and where the cash goes.
AWK valuation history
AWK returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AWK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AWK cash returned to shareholders
AWK price vs earnings per share
AWK key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $25.45B | $24.28B | $25.47B | $27.74B | $34.37B | $27.93B | $22.24B | $16.34B | $16.38B | $12.95B |
| Enterprise value | $41.19B | $38.19B | $37.59B | $40.11B | $45.32B | $38.41B | $31.72B | $24.81B | $24.04B | $20.06B |
| P/E ratio | 22.9 | 23.1 | 27.0 | 33.8 | 27.2 | 39.4 | 35.8 | 28.8 | 38.4 | 27.7 |
| Price / sales | 5.0 | 5.2 | 6.0 | 7.3 | 8.7 | 7.4 | 6.2 | 4.7 | 4.9 | 3.9 |
| Price / book | 2.3 | 2.3 | 2.6 | 3.6 | 4.7 | 4.3 | 3.6 | 2.8 | 3.0 | 2.5 |
| Price / operating cash flow | 12.4 | 11.9 | 13.6 | 25.0 | 23.9 | 19.6 | 16.1 | 11.8 | 11.3 | 10.2 |
| EV / sales | 8.0 | 8.2 | 8.9 | 10.6 | 11.5 | 10.2 | 8.8 | 7.2 | 7.2 | 6.1 |
| EV / EBITDA | 14.1 | 14.3 | 15.9 | 20.1 | 23.7 | 20.0 | 17.6 | 14.7 | 13.7 | 12.7 |
| Earnings yield | 4.4% | 4.3% | 3.7% | 3.0% | 3.7% | 2.5% | 2.8% | 3.5% | 2.6% | 3.6% |
| Free cash flow yield | −4.2% | −3.3% | −3.4% | −4.7% | −1.3% | −1.8% | −1.7% | −1.8% | −0.4% | −0.9% |
| Dividend yield | 2.5% | 2.4% | 2.1% | 1.7% | 1.2% | 1.4% | 1.6% | 2.0% | 1.8% | 2.0% |
| Shareholder yield (dividends + buybacks) | 2.5% | 2.4% | 2.1% | 1.7% | 1.2% | 1.4% | 1.7% | 2.2% | 2.1% | 2.5% |
| Share price at fiscal year-end | $130.50 | $124.49 | $131.99 | $152.42 | $188.86 | $153.47 | $122.85 | $90.77 | $91.49 | $72.36 |
| Per share | ||||||||||
| Revenue per share | $26.36 | $24.02 | $21.94 | $20.84 | $21.59 | $20.75 | $19.94 | $19.11 | $18.75 | $18.45 |
| Earnings per share | $5.70 | $5.39 | $4.89 | $4.51 | $6.94 | $3.90 | $3.43 | $3.15 | $2.38 | $2.61 |
| Operating cash flow per share | $10.56 | $10.49 | $9.71 | $6.09 | $7.92 | $7.84 | $7.64 | $7.70 | $8.09 | $7.13 |
| Free cash flow per share | −$5.47 | −$4.16 | −$4.46 | −$7.21 | −$2.37 | −$2.76 | −$2.07 | −$1.59 | −$0.34 | −$0.66 |
| Cash per share | $0.89 | $1.01 | $1.71 | $0.47 | $0.64 | $3.01 | $0.33 | $0.72 | $0.31 | $0.42 |
| Book value per share | $55.57 | $52.98 | $50.76 | $42.27 | $40.10 | $35.46 | $33.82 | $32.58 | $30.08 | $29.15 |
| Tangible book value per share | $49.65 | $47.12 | $44.84 | $35.99 | $33.84 | $26.90 | $25.15 | $23.36 | $22.33 | $21.58 |
| Dividends per share | $3.25 | $3.00 | $2.76 | $2.57 | $2.35 | $2.14 | $1.95 | $1.77 | $1.61 | $1.46 |
| Capex per share | $16.03 | $14.65 | $14.17 | $13.30 | $10.29 | $10.59 | $9.71 | $9.29 | $8.44 | $7.79 |
| Debt per share | $81.63 | $72.36 | $64.47 | $68.42 | $60.78 | $60.55 | $52.72 | $47.80 | $43.11 | $40.12 |
| Shares outstanding | 195.0M | 195.0M | 193.0M | 182.0M | 182.0M | 182.0M | 181.0M | 180.0M | 179.0M | 179.0M |
| Change in shares outstanding | 0.0% | +1.0% | +6.0% | 0.0% | 0.0% | +0.6% | +0.6% | +0.6% | 0.0% | −0.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 10.5% | 10.4% | 10.8% | 10.9% | 18.4% | 11.3% | 10.4% | 10.1% | 8.0% | 9.1% |
| Return on invested capital (ROIC) | 5.8% | 5.8% | 5.7% | 5.4% | 5.2% | 5.9% | 6.0% | 5.8% | 4.9% | 5.5% |
| Return on assets (ROA) | 3.2% | 3.3% | 3.3% | 3.0% | 5.0% | 3.0% | 2.8% | 2.8% | 2.2% | 2.6% |
| Return on tangible assets | 3.1% | 3.3% | 3.2% | 3.1% | 5.1% | 3.1% | 2.9% | 2.9% | 2.4% | 2.7% |
| Free cash flow margin | −20.8% | −17.3% | −20.3% | −34.6% | −11.0% | −13.3% | −10.4% | −8.3% | −1.8% | −3.6% |
| Income quality (OCF / net income) | 1.85 | 1.95 | 1.99 | 1.35 | 1.14 | 2.01 | 2.23 | 2.44 | 3.40 | 2.73 |
| Financial health | ||||||||||
| Total debt | $15.92B | $14.11B | $12.44B | $12.45B | $11.06B | $11.02B | $9.54B | $8.60B | $7.72B | $7.18B |
| Cash & short-term investments | $174.0M | $196.0M | $330.0M | $85.0M | $116.0M | $547.0M | $60.0M | $130.0M | $55.0M | $75.0M |
| Net debt | $15.74B | $13.91B | $12.11B | $12.37B | $10.95B | $10.47B | $9.48B | $8.47B | $7.66B | $7.11B |
| Debt / equity | 1.47 | 1.37 | 1.27 | 1.62 | 1.52 | 1.71 | 1.56 | 1.47 | 1.43 | 1.38 |
| Debt / assets | 0.44 | 0.43 | 0.41 | 0.45 | 0.42 | 0.45 | 0.42 | 0.41 | 0.40 | 0.39 |
| Net debt / EBITDA | 5.37 | 5.21 | 5.13 | 6.19 | 5.73 | 5.44 | 5.26 | 5.01 | 4.35 | 4.50 |
| Current ratio | 0.46 | 0.39 | 0.65 | 0.44 | 0.73 | 0.66 | 0.63 | 0.37 | 0.31 | 0.33 |
| Quick ratio | 0.44 | 0.35 | 0.59 | 0.41 | 0.70 | 0.65 | 0.61 | 0.35 | 0.29 | 0.31 |
| Interest coverage | 3.1 | 3.3 | 3.3 | 2.9 | 3.0 | 3.1 | 3.1 | 3.1 | 3.5 | 3.2 |
| Working capital | −$2.56B | −$1.94B | −$762.0M | −$1.56B | −$587.0M | −$975.0M | −$760.0M | −$1.31B | −$1.60B | −$1.61B |
| Invested capital | $26.58B | $24.25B | $21.91B | $20.06B | $18.24B | $16.93B | $15.60B | $14.34B | $13.05B | $12.32B |
| Tangible asset value | $9.68B | $9.19B | $8.65B | $6.55B | $6.16B | $4.89B | $4.55B | $4.21B | $4.00B | $3.86B |
| Net current asset value | −$23.50B | −$21.28B | −$19.11B | −$18.84B | −$17.22B | −$16.41B | −$15.28B | −$14.58B | −$13.38B | −$12.48B |
| Graham number | $84.41 | $80.16 | $74.74 | $65.46 | $79.13 | $55.75 | $51.09 | $48.05 | $40.14 | $41.41 |
| Graham net-net per share | −$124.28 | −$111.20 | −$101.40 | −$106.69 | −$100.22 | −$95.31 | −$89.11 | −$82.46 | −$76.30 | −$71.34 |
| Capital allocation | ||||||||||
| Dividends paid | $633.0M | $585.0M | $532.0M | $467.0M | $428.0M | $389.0M | $353.0M | $319.0M | $289.0M | $261.0M |
| Share buybacks (net) | $0 | $0 | $0 | — | $0 | $9.0M | $36.0M | $45.0M | $54.0M | $65.0M |
| Dividend payout ratio | 57.0% | 55.7% | 56.4% | 57.0% | 33.9% | 54.9% | 56.8% | 56.3% | 67.8% | 55.8% |
| Capex / revenue | 60.8% | 61.0% | 64.6% | 63.8% | 47.7% | 51.0% | 48.7% | 48.6% | 45.0% | 42.2% |
| Capex / operating cash flow | 151.8% | 139.7% | 145.9% | 218.4% | 130.0% | 135.2% | 127.1% | 120.7% | 104.2% | 109.3% |
| Capex / depreciation | 3.50 | 3.62 | 3.88 | 3.73 | 2.94 | 3.19 | 3.02 | 3.07 | 3.07 | 2.97 |
| Stock-based compensation / revenue | — | 0.8% | 0.6% | 0.7% | −19.1% | 0.5% | 2.2% | 0.5% | 0.3% | 0.3% |
| SG&A / revenue | — | — | — | 49.3% | 53.4% | 51.0% | 50.5% | 51.0% | 48.8% | 53.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 84.8 | 57.8 | 62.5 | 60.0 | 48.8 | 48.0 | 48.2 | 51.5 | 55.2 | 58.3 |
| Days of inventory on hand | 13.5 | 21.1 | 22.3 | 17.8 | 10.7 | 10.2 | 10.0 | 10.1 | 10.6 | 9.3 |
| Days payables outstanding | 45.4 | 62.9 | 58.1 | 56.2 | 43.5 | 44.1 | 44.7 | 45.7 | 46.2 | 34.0 |
| Cash conversion cycle (days) | 52.9 | 16.0 | 26.6 | 21.6 | 15.9 | 14.1 | 13.5 | 16.0 | 19.6 | 33.6 |
| Receivables turnover | 4.30 | 6.32 | 5.84 | 6.09 | 7.49 | 7.61 | 7.58 | 7.09 | 6.61 | 6.27 |
| Payables turnover | 8.05 | 5.81 | 6.28 | 6.50 | 8.38 | 8.28 | 8.17 | 7.99 | 7.90 | 10.74 |
| Inventory turnover | 27.10 | 17.28 | 16.38 | 20.50 | 34.17 | 35.65 | 36.33 | 36.07 | 34.45 | 39.06 |
| Asset turnover | 0.15 | 0.15 | 0.15 | 0.14 | 0.15 | 0.16 | 0.16 | 0.17 | 0.18 | 0.18 |
| Average receivables | $1.19B | $741.5M | $725.0M | $623.0M | $525.0M | $496.5M | $476.5M | $485.5M | $508.0M | $527.0M |
| Average payables | $362.0M | $320.0M | $274.0M | $244.5M | $212.0M | $196.0M | $189.0M | $185.0M | $174.5M | $140.0M |
| Average inventory | $107.5M | $107.5M | $105.0M | $77.5M | $52.0M | $45.5M | $42.5M | $41.0M | $40.0M | $38.5M |
| Intangibles / total assets | 3.2% | 3.5% | 3.8% | 4.1% | 4.4% | 6.3% | 6.9% | 7.8% | 7.1% | 7.3% |
Computed from AWK's annual financial statements (latest annual report filed February 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AWK valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), American Water traded at 22.9 times earnings, against a 10-year median of 28.2. Based on the latest twelve months, the trailing P/E is 23.4 and the forward P/E is 20.0. American Water earned a return on equity of 10.5% and a return on invested capital of 5.8% in fiscal 2025. It ended the year with $15.9 billion of debt and $174.0 million in cash and short-term investments, net debt of $15.7 billion. It returned $633.0 million to shareholders: $633.0 million in dividends and $0 in share buybacks. The share count rose 8.9% from 179.0M to 195.0M over 9 years.
See the AWK income statement, the AWK chart for price history, or the AWK stock overview for the latest quote and news.
AWK key metrics FAQ
What is American Water's P/E ratio?
American Water's trailing P/E ratio is 23.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 20.0. At the end of fiscal 2025 it was 22.9, compared with a 10-year median of 28.2.
What is American Water's EV/EBITDA?
American Water's enterprise value was 14.1 times EBITDA at the end of fiscal 2025 (enterprise value $41.2 billion, EBITDA $2.9 billion); the current EV/EBITDA is 14.0.
What is American Water's return on equity?
American Water's return on equity (ROE) was 10.5% in fiscal 2025: net income of $1.1 billion on average shareholders' equity of $10.6 billion.
What is American Water's ROIC?
American Water's return on invested capital was 5.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does American Water have?
American Water had total debt of $15.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.47 and $15.7 billion of net debt (5.37 times EBITDA).
What is American Water's dividend yield?
American Water's forward dividend yield is 2.65%. American Water paid $633.0 million in dividends in fiscal 2025 ($3.25 per share), a payout ratio of 57.0%.
What is American Water's free cash flow yield?
American Water generated -$1.1 billion of free cash flow in fiscal 2025, a free cash flow yield of −4.2% on its market value at year-end ($25.4 billion).
What is American Water's current ratio?
American Water's current ratio was 0.46 at the end of fiscal 2025: current assets were 0.46 times current liabilities.