Is the business good?
How good a business is CWT?
California Water Service Group earns 4.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
4.3%
Return on invested capital · cost of capital 9.0% · 4.8 points below what the capital costs: growth destroys value
- Operating margin
- 19%
Operating margin · Utilities - Regulated Water median 29% · 12 months to Q2 2026
- Share count, year on year
- +1.4%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 20% |
| FY2021 | 17% |
| FY2022 | 17% |
| FY2023 | 9.8% |
| FY2024 | 25% |
| FY2025 | 18% |
Details›
- Operating margin12 months to Q2 2026
- 19%
- Net margin12 months to Q2 2026
- 13%
- Revenue, trailing twelve months
- $1.00B
- Net income, trailing twelve months
- $133M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Utilities - Regulated Water
Ranks #5 of 6 by Smart Score