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U.S. Water Utilities Industry Analysis

UpdatedJun 05, 2026
DataAggregated Company Financials
Companies18
  • 7D0.2%
  • 3M-8.6%
  • 1Y-7.4%
  • YTD-3.6%

Last week, the Water Utilities industry hasn't moved much but California Water Service Group is up 3.2% in that time. Unfortunately though, the industry is down 7.4% over the past 12 months. Looking forward, earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

Has the U.S. Water Utilities Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Jun 2026US$45.8bUS$10.9bUS$2.1b22.5x21.8x4.2x
Sun, 03 May 2026US$46.7bUS$10.8bUS$2.2b22.6x21.7x4.3x
Tue, 31 Mar 2026US$49.4bUS$10.7bUS$2.2b22.9x22.8x4.6x
Thu, 26 Feb 2026US$48.5bUS$10.6bUS$2.2b22.3x21.7x4.6x
Sat, 24 Jan 2026US$47.9bUS$10.5bUS$2.2b21.8x21.4x4.6x
Mon, 22 Dec 2025US$46.6bUS$10.5bUS$2.2b21.8x20.8x4.4x
Wed, 19 Nov 2025US$47.8bUS$10.5bUS$2.2b21.6x21.3x4.5x
Fri, 17 Oct 2025US$54.4bUS$10.9bUS$2.1b22.8x26.1x5x
Sun, 14 Sep 2025US$49.4bUS$10.3bUS$2.2b22.4x22.7x4.8x
Tue, 12 Aug 2025US$50.8bUS$10.3bUS$2.2b22.2x23.4x4.9x
Thu, 10 Jul 2025US$48.4bUS$10.0bUS$2.1b23.1x22.8x4.8x
Sat, 07 Jun 2025US$48.4bUS$10.0bUS$2.1b23.3x22.8x4.8x
Mon, 05 May 2025US$50.9bUS$9.8bUS$2.1b21.6x24.2x5.2x
Wed, 02 Apr 2025US$50.6bUS$9.8bUS$2.1b21.7x23.7x5.2x
Fri, 28 Feb 2025US$47.1bUS$9.8bUS$2.1b20.3x22x4.8x
Sun, 26 Jan 2025US$42.7bUS$9.4bUS$2.0b19.9x21.1x4.5x
Tue, 24 Dec 2024US$45.1bUS$9.4bUS$2.0b22.5x22.3x4.8x
Thu, 21 Nov 2024US$49.2bUS$9.4bUS$2.0b24.1x24.3x5.2x
Sat, 19 Oct 2024US$50.0bUS$9.2bUS$2.0b23.8x25.4x5.5x
Mon, 16 Sep 2024US$51.2bUS$9.2bUS$2.0b24.5x26x5.6x
Wed, 14 Aug 2024US$49.6bUS$9.2bUS$2.0b23.9x25.1x5.4x
Fri, 12 Jul 2024US$46.6bUS$9.0bUS$2.0b22.9x23.7x5.2x
Sun, 09 Jun 2024US$45.2bUS$9.0bUS$2.0b21.3x23x5x
Tue, 07 May 2024US$46.4bUS$9.0bUS$2.0b22.2x23.6x5.1x
Thu, 04 Apr 2024US$42.8bUS$8.9bUS$1.8b22x24x4.8x
Sat, 02 Mar 2024US$42.6bUS$8.9bUS$1.8b22.8x24.1x4.8x
Mon, 29 Jan 2024US$44.9bUS$9.0bUS$1.7b25.2x25.9x5x
Wed, 27 Dec 2023US$48.0bUS$9.0bUS$1.7b28.2x27.7x5.3x
Fri, 24 Nov 2023US$46.8bUS$9.0bUS$1.7b27.9x27x5.2x
Sun, 22 Oct 2023US$42.3bUS$8.9bUS$1.7b25.1x24.9x4.7x
Tue, 19 Sep 2023US$48.9bUS$8.9bUS$1.7b29.4x28.8x5.5x
Thu, 17 Aug 2023US$49.9bUS$8.9bUS$1.7b29.8x29.4x5.6x
Sat, 15 Jul 2023US$51.8bUS$8.7bUS$1.6b33.4x32.3x5.9x
Mon, 12 Jun 2023US$52.8bUS$8.7bUS$1.6b34.4x32.9x6.1x
Price to Earnings Ratio

32.9x


Total Market Cap: US$52.8bTotal Earnings: US$1.6bTotal Revenue: US$8.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Water Utilities Industry Price to Earnings3Y Average 24.4x202420252026
Current Industry PE
  • Investors are pessimistic on the American Water Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 21.8x which is lower than its 3-year average PE of 24.4x.
  • The 3-year average PS ratio of 5.0x is higher than the industry's current PS ratio of 4.2x.
Past Earnings Growth
  • The earnings for companies in the Water Utilities industry have grown 9.4% per year over the last three years.
  • Revenues for these companies have grown 7.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Utilities industry?

US Market-0.11%
Utilities-1.53%
Water Utilities0.17%
Water0.17%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CWT California Water Service GroupUS$45.243.2%
+US$85.0m		-1.3%PE22.8x
AWR American States WaterUS$77.020.8%
+US$25.1m		-0.1%PE22.7x
WTRG Essential UtilitiesUS$36.750.2%
+US$17.0m		-2.4%PE18.7x
CDZI CadizUS$4.564.1%
+US$15.1m		48.1%PS25.6x
MSEX Middlesex WaterUS$52.380.4%
+US$3.7m		-6.8%PE22.2x

Latest News

GWRS
US$7.31
Global Water Resources
7D
-1.2%
1Y
-27.6%
AWK
US$122.25
American Water Works Company
7D
-0.08%
1Y
-12.7%
CWCO
US$30.06
Consolidated Water
7D
-0.3%
1Y
10.6%
Narrative Update • Jun 02

CWCO: Acquisition-Focused Expansion And Share Capital Flexibility Will Drive Future Upside

Analysts have kept their price target for Consolidated Water steady at $43.00, citing unchanged assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E as the key reasons for holding the line. What's in the News Consolidated Water is actively seeking acquisitions, with management highlighting interest in desalination and water infrastructure projects in the Caribbean and North America, as stated on the First Quarter 2026 Operating and Financial Results call.
CWT
US$45.24
California Water Service Group
7D
3.2%
1Y
-1.3%
AWR
US$77.02
American States Water
7D
0.8%
1Y
-0.1%
CDZI
US$4.56
Cadiz
7D
4.1%
1Y
48.1%
PCYO
US$10.32
Pure Cycle
7D
-3.0%
1Y
0.8%
MSEX
US$52.38
Middlesex Water
7D
0.4%
1Y
-6.8%
Seeking Alpha • May 27

Middlesex Water: Not My Favorite Utility, Though Valuation Has Improved (Rating Upgrade)

Summary Middlesex Water has corrected sharply from a period of prior overvaluation. MSEX remains a slow-growing, defensive utility, though its operational results have improved a bit lately. Interest rate environment and rising bond yields continue to pressure Middlesex and peers, limiting upside despite improved fundamentals. I upgrade Middlesex Water to a hold, but I prefer larger water utilities or other defensive stocks at the present time. Read the full article on Seeking Alpha
WTRG
US$36.75
Essential Utilities
7D
0.2%
1Y
-2.4%
Narrative Update • May 23

WTRG: Updated Discount Rate And P/E Assumptions Will Shape Steady Outlook

Analysts have trimmed their price target on Essential Utilities by $0.80 to $40.40, reflecting updated views on fair value, a slightly higher discount rate and modestly adjusted assumptions for revenue growth, profit margin and future P/E. Valuation Changes Fair Value: trimmed from $41.20 to $40.40, a small downward adjustment of about 1.9%.
HTO
US$56.55
H2O America
7D
-1.2%
1Y
8.8%
YORW
US$29.60
York Water
7D
-0.6%
1Y
-6.9%
Analysis Article • May 18

York Water's (NASDAQ:YORW) Profits May Not Reveal Underlying Issues

The York Water Company's ( NASDAQ:YORW ) robust recent earnings didn't do much to move the stock. We think this is due...
ARTN.A
US$32.43
Artesian Resources
7D
-0.5%
1Y
-2.6%