Valuation
26% of the score
9median 13
H2O America is valued at 23.6x its operating profit, including debt: a rich multiple.
25x
20x
15x
10x
6x
23.6x
Full points at 6x or less, none from 25xfull points
HTOH2O America
$61.37+26% 1Y
$61.37
$43.7352 weeks$65.44
RyuScore
Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
RyuScore 35 out of 100, Below average
Today's price. Only valuation depends on it.
Below average. H2O America scores higher than 29% of the 1,794 companies Ryufin scores.
Carried by return on new capital and earnings quality, held back by valuation and return on capital.
Utilities median 40 · all companies 50
Return on capital
18% of the score
9median 34
Over 7 years the business earned 3.2% a year after tax on the capital it uses.
2%
8%
15%
25%
3.2%
None at 2% or less, full points from 25%full points
7 years agolatest 3.3%
Return on new capital
16% of the score
79median 49
For every dollar of operating profit earned over 6 years, yearly profit grew by 8 cents. New capital earned 3.9%, and 216% of profit went back into the business.
-5%
12%
8.4%
None at minus 5 cents, full points from 12 centsfull points
Capital allocation
14% of the score
35median 64
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countUp 4.1% a year over 5 years: new shares
115%
-3%
4.1%
0 pointsfull points
Assets against salesAssets grew 9.2% a year, sales 7.2%
7212%
-2%
2%
0 pointsfull points
Cycle position
12% of the score
64median 62
Today's operating margin of 22% is 1.01x its normal 22%: close to its usual level. Normal is half the 10 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
1x
A trough earns points, a peak costs themfull points
10 years agonow 22%
Balance sheet
8% of the score
5median 50
What the debt weighs against the profit that has to carry it.
Net debt to EBITDA5.7x a year of EBITDA
04.5x
0.5x
5.7x
0 pointsfull points
Interest coverOperating profit covers interest 3x
91.5x
12x
2.5x
0 pointsfull points
Earnings quality
6% of the score
87median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
Cash against profitOperating cash flow was 2.24x profit over 3 years
1000.7x
1x
1.3x
2.2x
0 pointsfull points
AccrualsCash ran ahead of profit by 2.9% of assets
758%
0%
-8%
-2.9%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2026-03-31, latest annual report FY2025.
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