American States Water Company (AWR) Cash Flow: Operating & Free Cash Flow

American States Water Company Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for American States Water Company (AWR) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	130.44	119.27	124.92	78.40	94.35	86.43	84.34	63.87	69.37
Depreciation & Amortization	48.87	44.23	43.25	41.70	39.97	37.20	35.71	40.66	39.27
Deferred Income Tax	3.60	2.04	4.78	2.80	3.56	2.24	6.62	-5.77	12.15
Stock Based Compensation	3.56	3.74	3.30	2.57	2.57	2.46	2.52	3.85	2.89
Change in Working Capital	46.83	32.91	-104.79	-13.93	-21.32	-3.70	-9.63	32.75	29.73
Change in Accounts Receivable	3.75	-1.21	-6.63	5.42	-4.69	-13.27	1.88	1.88	-7.67
Change in Inventory	-1.27	2.43	-2.95	-2.46	-3.54	-2.19	-0.65	-0.98	-0.50
Change in Accounts Payable	7.58	5.15	-10.86	11.77	-2.88	5.35	-0.25	1.28	4.36
Change in Other Working Capital	31.89	26.53	0.29	-28.66	-10.20	6.42	-10.61	30.57	33.54
Other Operating Activities	0.03	-3.45	0.29	6.26	-3.55	-2.47	-2.70	1.41	-8.85
Net Cash from Operating Activities	229.73	198.73	67.68	117.80	115.58	122.17	116.86	136.77	144.55
Investing Activities
Capital Expenditures	-236.82	-231.96	-188.54	-166.24	-144.52	-130.42	-151.94	-126.56	-113.13
Acquisitions	0.00	0.00	0.00	0.06	0.57	0.09	0.17	0.07	34.32
Purchases of Investments	0.00	0.00	0.00	-0.92	-1.14	-1.28	-1.42	-1.55	-1.23
Sales/Maturities of Investments	0.00	0.00	0.00	-0.06	-0.57	-0.09	-0.17	0.00	0.00
Other Investing Activities	-0.72	-0.82	-0.22	0.06	0.57	0.09	0.17	0.07	34.32
Net Cash from Investing Activities	-237.54	-232.78	-188.76	-167.10	-145.09	-131.61	-153.20	-128.04	-80.03
Financing Activities
Debt Repayment	-0.45	19.70	-0.33	106.41	42.94	88.28	69.18	36.17	-31.33
Common Stock Issued	67.06	88.81	0.00	0.00	0.00	0.03	0.52	0.55	0.00
Common Stock Repurchased	0.00	0.00	0.00	0.00	0.00	-0.03	-0.52	0.00	0.00
Dividends Paid	-74.66	-67.02	-61.20	-56.36	-51.69	-47.21	-42.70	-38.94	-36.42
Other Financing Activities	6.82	5.14	6.43	0.28	6.48	3.77	4.05	0.96	2.09
Net Cash from Financing Activities	-0.03	46.64	129.16	50.34	-2.27	44.84	30.52	-1.81	-64.74
Summary
Net Change in Cash	-7.84	12.59	8.08	1.03	-31.77	35.40	-5.81	6.93	-0.22
Cash at Beginning of Period	26.66	14.07	6.00	4.96	36.74	1.33	7.14	0.21	0.44
Cash at End of Period	18.82	26.66	14.07	6.00	4.96	36.74	1.33	7.14	0.21
Free Cash Flow	-7.09	-33.23	-120.86	-48.44	-28.93	-8.25	-35.08	10.21	31.43
Supplemental Disclosures
Interest Paid	46.05	50.35	39.37	26.01	22.54	-	-	-	-
Income Taxes Paid	35.01	27.85	34.68	27.37	29.15	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About American States Water Company Cash Flow

What is American States Water Company's free cash flow?

American States Water Company had negative free cash flow of $7.09M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $229.73M minus $236.82M of capital expenditures.

How much does American States Water Company spend on capital expenditures?

American States Water Company spent $236.82M on capital expenditures in fiscal 2025, compared with $231.96M a year earlier. That equals 103.1% of operating cash flow.

Does American States Water Company pay dividends or buy back shares?

Yes. In fiscal 2025 American States Water Company returned $74.66M in dividends to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition