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Companies / Utilities / California Water Service Group
CWT

California Water Service Group

UtilitiesElectric, Gas & Water
Ticker CWTSAN JOSE, CAFiscal year ends DecemberBook value per share $31.26Diluted shares 60.9M

California Water Service Group (NYSE: CWT) is a holding company whose operating subsidiaries provide water and wastewater utility services to residential, industrial, public, and irrigation customers, as well as water for fire protection. Its services include producing, purchasing, treating, testing, storing, and… From the company’s description.

Over the twelve months to Sep 30, 2026, California Water Service Group reported revenue of $1.08B, up 7.3% from a year earlier, and net income of $137.37M. Its operating margin was 18.4%, and operations generated $310.14M in cash. In fiscal 2025, it reported revenue of $1.00B, down 3.5% from fiscal 2024, and net income of $127.85M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$1.00BFY2025
−3.5% year over year
Last 12 mo $1.08B
17.03%FY2025
−4.7 percentage points
Last 12 mo 18.35%
$127.85MFY2025
−32.7% year over year
Last 12 mo $137.37M
7.59%FY2025
−4.1 percentage points
Last 12 mo 7.22%
Cash & financing
$302.56MFY2025
+4.0% year over year
Last 12 mo $310.14M
$-214.43MFY2025
−19.2% year over year
Last 12 mo $-266.92M
0.95FY2025
Was 0.85× a year earlier
Last 12 mo 0.87
59.6MFY2025
+1.7% year over year
Last 12 mo 60.9M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What California Water Service Group does

In the company’s own words

California Water Service Group (NYSE: CWT) is a holding company whose operating subsidiaries provide water and wastewater utility services to residential, industrial, public, and irrigation customers, as well as water for fire protection. Its services include producing, purchasing, treating, testing, storing, and distributing water, and collecting and treating wastewater. It also provides contracted water-system operations, meter reading, billing, laboratory services, and other water-related services to municipalities and private companies. The company operates one reportable segment, supplying and distributing water and providing wastewater services. Its subsidiaries serve customers in California, Hawaii, New Mexico, Washington, and Texas; California operations generated 91.2% of consolidated operating revenue in 2025. At year-end 2025, the company served approximately 562,000 customer connections, representing about two million people. Cal Water, the original operating company, began operations in 1926. Its website is www.calwatergroup.com.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
SAN JOSE, CA
Fiscal year end
December
CIK
1035201
SIC
4941

Financial performance, year by year

Fiscal 2011–2025 · USD
$-107.53M$215.06M$537.66M$860.25M$1.18B201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns California Water Service Group — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

298
funds hold it
0 of 35
superinvestors hold it
$1.35B
held by funds, at market
45.9%
of shares held by funds

Largest fund holders · California Water Service Group’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.16%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.09%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.04%of fund net assets
Fidelity Small Cap Value Fund
FCPVX · Fidelity Securities Fund
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do California Water Service Group and its peers compare on margins and cash generation over ten years?”
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