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Companies / Utilities / H2O America
HTO

H2O America

UtilitiesElectric, Gas & Water
Ticker HTOSAN JOSE, CAFiscal year ends DecemberBook value per share $52.86Diluted shares 41.6M

H2O America (Nasdaq: HTO) is a holding company whose principal business is producing, purchasing, treating, storing and distributing water, and providing water and wastewater services. Its regulated water utilities serve residential, commercial and other customers in California, Connecticut, Maine and Texas; the… From the company’s description.

Over the twelve months to Sep 30, 2026, H2O America reported revenue of $838.18M, up 4.2% from a year earlier, and net income of $104.87M. Its operating margin was 20.7%, and operations generated $248.21M in cash. In fiscal 2025, it reported revenue of $800.59M, up 7.0% from fiscal 2024, and net income of $102.58M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$800.59MFY2025
+7.0% year over year
Last 12 mo $838.18M
22.17%FY2025
−0.6 percentage points
Last 12 mo 20.74%
$102.58MFY2025
+9.2% year over year
Last 12 mo $104.87M
6.66%FY2025
−0.2 percentage points
Last 12 mo 4.76%
Cash & financing
$244.80MFY2025
+25.2% year over year
Last 12 mo $248.21M
$244.80MFY2025
+25.2% year over year
Last 12 mo $248.21M
1.28FY2025
Was 1.34× a year earlier
Last 12 mo 0.95
35.1MFY2025
+7.1% year over year
Last 12 mo 41.6M

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 H2O America does

In the company’s own words

H2O America (Nasdaq: HTO) is a holding company whose principal business is producing, purchasing, treating, storing and distributing water, and providing water and wastewater services. Its regulated water utilities serve residential, commercial and other customers in California, Connecticut, Maine and Texas; the company also provides contract utility services and certain non-tariffed services. Water Utility Services is its single reportable segment, comprising San Jose Water Company, The Connecticut Water Company, The Maine Water Company, The Texas Water Company and Acequia Water Supply Corporation. Other activities include contract water and sewer operations, management of the Cupertino municipal water system, and property management and investment. The Linebacker brand offers water and wastewater service-line and in-home plumbing protection plans in Connecticut and Maine. In 2025, the utilities served approximately 405,000 water connections and a population of about 1.6 million across their service areas. The company changed its name from SJW Group to H2O America in May 2025; its utility operations include businesses acquired through its 2019 merger with Connecticut Water Service.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
SAN JOSE, CA
Fiscal year end
December
CIK
766829
SIC
4941

Financial performance, year by year

Fiscal 2011–2025 · USD
$-83.82M$167.64M$419.09M$670.55M$922.00M201120122013201420152016201720182019202020212022202320242025Last 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 H2O America — and what changed

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

261
funds hold it
0 of 35
superinvestors hold it
$873.23M
held by funds, at market
30.4%
of shares held by funds

Largest fund holders · H2O America’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.13%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
0.07%of fund net assets
0.74%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.03%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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