H2O America (HTO) Financial Statements & Analysis

H2O America (HTO) Income Statement

H2O America reported revenue of $800.59M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 7.0% from $748.44M a year earlier. Net income was $102.58M, up 9.2% year over year, a net margin of 12.8%. Gross margin was 41.3% and operating margin 22.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $210.47M, up 6.2% from the same quarter a year earlier.

H2O America Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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H2O America income statement - 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
Revenue & Gross Profit
Revenue	800.59	748.44	670.36	620.70	573.69	564.53	420.48	397.70	389.23
Cost of Revenue	426.48	323.32	281.93	263.52	255.11	247.95	196.27	187.14	176.50
Gross Profit	330.54	319.29	388.43	357.17	318.57	316.58	224.21	210.56	212.73
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	151.25	105.83	98.66	95.40	87.33	79.74	66.30	48.93	48.94
Operating Expenses	193.12	254.61	239.00	226.20	212.70	198.91	166.73	137.12	110.87
Operating Income	177.53	170.50	149.44	130.98	105.88	117.67	57.48	73.44	101.85
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	6.54	0.16	0.00
Interest Expense	91.07	71.39	66.14	58.06	54.34	54.26	31.80	24.33	22.93
Other Income/Expense	-62.59	-67.57	-58.49	-48.65	17.31	-47.78	-25.40	-24.61	-5.36
Income
Income Before Tax	114.93	102.94	90.94	82.32	68.85	69.90	32.08	48.83	96.49
Income Tax Expense	12.36	8.97	5.96	8.50	8.37	8.38	8.45	10.07	35.39
Net Income	102.58	93.97	84.99	73.83	60.48	61.52	23.40	38.77	59.20
Net Income - Continuous Operations	102.58	93.97	84.99	73.83	60.48	61.52	23.40	38.77	59.20
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	307.92	292.72	265.23	246.83	219.66	215.77	132.37	130.07	169.92
EBIT	187.43	177.67	157.09	140.39	123.19	117.67	-	-	-
Depreciation & Amortization	115.32	115.05	108.14	106.44	94.40	91.62	68.49	56.91	50.50
Earnings Per Share
Basic EPS	3.00	3.00	3.00	2.00	2.00	2.00	1.00	2.00	3.00
Diluted EPS	3.00	3.00	3.00	2.00	2.00	2.00	1.00	2.00	3.00
Basic Shares Outstanding	35.00	32.70	31.58	30.31	29.60	28.52	28.44	21.21	20.51
Diluted Shares Outstanding	35.10	32.78	31.66	30.42	29.74	28.70	28.56	21.33	20.69

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

Frequently Asked Questions About H2O America Financial Statements

What was H2O America's revenue in fiscal 2025?

H2O America reported revenue of $800.59M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 7.0% from $748.44M a year earlier.

Is H2O America profitable?

Yes. H2O America earned net income of $102.58M in fiscal 2025, a net margin of 12.8%. In fiscal 2024 it earned $93.97M.

What is H2O America's operating margin?

H2O America's operating income was $177.53M on revenue of $800.59M in fiscal 2025, an operating margin of 22.2%, compared with 22.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition