California Water Service Group (CWT) Cash Flow: Operating & Free Cash Flow

California Water Service Group (CWT) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), California Water Service Group generated $302.56M of operating cash flow and spent $516.99M on capital expenditures. That left free cash flow of −$214.43M. It returned $75.29M to shareholders through $73.85M in dividends and $1.43M in share buybacks.

California Water Service Group 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 California Water Service Group (CWT) - 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	127.85	190.09	51.38	95.26	100.98	96.83	63.12	65.58	67.18
Depreciation & Amortization	146.52	134.14	123.12	117.36	111.58	100.94	91.29	85.71	78.59
Deferred Income Tax	38.21	40.45	35.63	26.88	25.20	34.44	15.35	20.91	21.09
Stock Based Compensation	4.98	3.75	2.99	5.16	6.81	4.59	6.73	3.14	3.12
Change in Working Capital	-3.68	-126.49	15.44	-22.23	-6.66	-110.02	2.69	3.84	-16.88
Change in Accounts Receivable	-20.78	-42.28	38.85	-40.69	-11.52	-18.34	-4.58	20.42	-31.87
Change in Inventory	0.00	0.00	0.00	0.00	0.00	-8.60	-3.72	-8.64	-6.08
Change in Accounts Payable	-19.83	1.74	9.90	-7.63	-2.94	0.37	10.72	4.70	1.56
Change in Other Working Capital	36.93	-85.96	-33.31	26.09	7.81	-83.45	0.26	-12.64	19.51
Other Operating Activities	-11.32	48.95	24.88	21.33	19.01	-8.86	-10.38	-0.16	-5.26
Net Cash from Operating Activities	302.56	290.87	217.82	243.77	231.72	117.92	168.79	179.02	147.84
Investing Activities
Capital Expenditures	-516.99	-470.80	-386.56	-327.76	-293.19	-298.65	-273.77	-271.71	-259.19
Acquisitions	0.00	-1.61	-2.99	0.00	-6.45	-40.48	0.00	1.49	4.71
Purchases of Investments	0.00	0.00	-2.68	0.00	-2.34	-4.60	-2.22	-4.93	-5.61
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	1.00	0.00	0.00	3.49	1.56
Other Investing Activities	-3.15	-2.46	-5.50	-7.77	-2.23	-2.34	0.03	-1.43	51.88
Net Cash from Investing Activities	-520.14	-474.87	-389.42	-335.52	-300.87	-346.07	-275.96	-273.08	-206.65
Financing Activities
Debt Repayment	222.32	148.93	-1.81	29.58	-5.35	172.76	102.64	72.85	151.17
Common Stock Issued	4.04	89.03	115.11	106.74	197.72	83.58	20.42	0.00	0.00
Common Stock Repurchased	-1.43	-1.44	-1.84	-2.01	-1.77	-1.68	-2.50	-1.65	-1.51
Dividends Paid	-73.85	-65.46	-59.04	-54.19	-47.40	-41.77	-38.02	-36.04	-34.56
Other Financing Activities	68.19	23.66	11.34	16.01	16.47	17.09	20.21	11.32	12.99
Net Cash from Financing Activities	219.27	194.72	171.54	96.12	104.68	229.98	102.75	46.48	128.09
Summary
Net Change in Cash	1.69	10.72	-0.06	4.37	35.52	1.83	-4.42	-47.59	69.28
Cash at Beginning of Period	95.69	84.97	85.03	80.65	45.13	43.30	47.72	95.30	25.49
Cash at End of Period	97.37	95.69	84.97	85.03	80.65	45.13	43.30	47.72	94.78
Free Cash Flow	-214.43	-179.93	-168.75	-83.99	-61.48	-180.73	-104.98	-92.69	-111.35
Supplemental Disclosures
Interest Paid	-	55.66	49.15	43.77	41.62	40.79	-	-	-
Income Taxes Paid	-	27.00	-3.53	-	3.66	4.70	-	-	-

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

Frequently Asked Questions About California Water Service Group Cash Flow

What is California Water Service Group's free cash flow?

California Water Service Group had negative free cash flow of $214.43M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $302.56M minus $516.99M of capital expenditures.

How much does California Water Service Group spend on capital expenditures?

California Water Service Group spent $516.99M on capital expenditures in fiscal 2025, compared with $470.80M a year earlier. That equals 170.9% of operating cash flow.

Does California Water Service Group pay dividends or buy back shares?

Yes. In fiscal 2025 California Water Service Group returned $73.85M in dividends and $1.43M in share buybacks 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