H2O America (HTO) is a publicly traded company in the Utilities — Regulated Water industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
H2O America, operating nationwide via its various subsidiaries, is a key provider of essential water utility and associated services. The company manages the entire water lifecycle, from procuring, storing, and purifying water to its distribution, wholesale, and retail sale, alongside offering wastewater management services.
Is H2O America stock overvalued or undervalued in 2026?
H2O America (HTO) trades at 21.8× earnings (P/E), above the median of the 83 utilities companies over $2bn in Kaplio's universe. At the decade median (23.7×) $67 (+9 %); at its sector median (20.7×) $59 (-5 %).
Kaplio overview: H2O America
Market cap $3B · 52 weeks $44 – $65 (5 % below the high) · P/E 21.8× · 2027 expected P/E 21.7× · Dividend 2.8 % · 11 years rising · Next earnings February 24, 2027 · expected EPS $0.51 · Closing price, Oct 28 · accounts published Oct 26.
- Valuation: P/E 21.8× (fairly priced).
- Business: ROE 5.7 % (weak).
- Balance sheet: Net debt/EBITDA 6.1× (fragile).
- Earnings: 6 of 8 (on track).
What would it be worth at its usual multiples?
At the decade median (23.7×) $67 (+9 %); at its sector median (20.7×) $59 (-5 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in utilities: 3 of 6 pass
- Regulated ROE (8-12%) 5.7 %, fails.
- Net debt / EBITDA 6.1×, fails.
- Interest coverage 2.0×, fails.
- 5y EPS growth 5.8 %, passes.
- 10y dividend growth 7.7 %, passes.
- Payout Ratio 57.2 %, passes.
Against its peers (reference peers) — H2O America: P/E 21.8×; EV/EBITDA 8.0×; ROIC -39.2 %; $3.0B. California Water Service Group (P/E 21.3×; EV/EBITDA 12.3×; ROIC 3.1 %; $2.9B), American States Water Company (P/E 23.1×; EV/EBITDA 15.9×; ROIC 6.5 %; $3.3B), Essential Utilities, Inc. (P/E 21.6×; EV/EBITDA 15.2×; ROIC 4.4 %; $12.0B).
Expensive or cheap against its last ten years?
P/E at each close: today 21.8× · median 23.7× · minimum 16.0× · maximum 40.9× · cheap below 20.8× · expensive above 32.0×. It has been cheaper than today only 40% of the time over its last ten years.
Dividend
tight · Yield 2.8 % ($1.63 per share in 2025) · Years raising it ≥ 11 · 5-year growth +5 % a year · Free cash flow coverage -3.5× · With $1,000 invested today you'd collect $28.20 a year ($2.35 a month).
Profitability
| Return on Equity | 5.65% |
| Return on Invested Capital | -39.18% |
| Return on Assets | 0.00% |
| Gross Margin | 47.01% |
| Operating Margin | 20.79% |
| Net Margin | 12.51% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 0.00 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 0.70 |
Price Performance
| 1 month | +0.24% |
| 3 months | +0.77% |
| Year-to-date | +26.15% |
| 1 year | +32.65% |
| 3 years | +1.01% |
| 5 years | -6.25% |
| 10 years | +21.82% |
Dividend History
Paid in the last 12 months: $1.7400 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-11-09 | $0.4400 |
| 2026-08-10 | $0.4400 |
| 2026-05-11 | $0.4400 |
| 2026-02-09 | $0.4400 |
| 2025-11-10 | $0.4200 |
| 2025-08-11 | $0.4200 |
| 2025-05-12 | $0.4200 |
| 2025-02-10 | $0.4200 |
| 2024-11-04 | $0.4000 |
| 2024-08-05 | $0.4000 |
Amounts adjusted for stock splits.
Related companies: AWK · SBS · WTRG · AWR · CWT
Explore sector: Utilities · Regulated Water
More sections of HTO: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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