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American Water Works Company, Inc.AWK

Sector
Other
Industry
Water Supply
Exchange
NYSE

Stock Price $AWK

Latest filings

You are here#17 of 21 in Utilities by market cap

Filing record · 2016–202610-K1110-Q328-K211

AWK filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 211 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’17Jul ’17
  2. Leadership change8-K · Dec ’19Dec ’19
  3. Material agreement8-K · Dec ’21Dec ’21
  4. Material agreement8-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  15. $5.12B
YoY changeLargest recent move+13.5%in FY18Latest +10.1%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All AWK Financial Metrics57 metrics

Income Statement11

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

American Water Works Company, Inc. Financial Overview 2021–2025

Updated Aug 8, 2026

American Water Works is executing a staggering $46 billion to $48 billiona 10-year capital investment pipeline, a relentless deployment of capital that dictates its entire growth trajectory. The utility operates a highly predictable economic engine where aggressive infrastructure spending on aging water systems translates directly into authorized rate increases and compounding shareholder returns.

This disciplined formula drove total operating revenues from $3.93 billion in FY2021 to $4.72 billionb by FY2025. To fuel this expansion, the company relies heavily on both organic rate cases and strategic consolidation, highlighted by a $315 million acquisition of Nexus Regulated Utilities that added 47,000 customer connections across eight states. By divesting non-core assets early in the decade, the core regulated segment now consistently generates over 92% of total operating revenues, shielding the bottom line from cyclical economic volatility and offsetting rising debt costs.

The market places a premium on this regulated stability. At the close of FY2025, American Water Works traded at $130.50c with a 22.9x price-to-earnings multiple, underpinned by $5.69 in diluted earnings per share. This valuation reflects clear investor confidence that the utility can continually secure necessary rate recoveries across its service footprint and successfully execute its monumental stock-for-stock merger with Essential Utilities, slated to close by Q1 2027.

Recent Developments (Q1 and Q2 2026)

American Water Works maintained its top-line momentum in Q2 2026, growing operating revenues 6.2% to $1,355 milliond from $1,276 million in the prior year. Net earnings climbed 8.8% to $1.61 per share, up from $1.48 per share in Q2 2025. To fund its $1,519 million capital deployment in H1 2026, the company issued $1.2 billion in senior notes across April 2026 and May 2026. The balance sheet also received a $234 million net settlement payment regarding PFAS litigation.

Bulls argue the $234 millione PFAS cash injection and recent debt issuances bridge funding gaps for infrastructure projects without straining equity. Conversely, bears warn the stock's valuation at 24.3x trailing earnings as of July 29, 2026, leaves little margin for error if pending rate cases, such as Missouri's $179 million request or California's $24 million appeal, face reductions.

What to watch: final authorization of the $179 million Missouri rate increase request; outcome of construction work in progress disputes in California.

03—Filings

Recent SEC Filings

  1. 8-KAmerican Water Works Company, Inc. 8-K Report, Corporate Update (Sep 17, 2026)American Water Works Company, Inc. (AWK) announced in an 8-K filing on September 17, 2026, a significant development in its proposed merger with Essential Utilities, Inc. The company, along with Essential Utilities and certain affiliates, has filed a joint petition for a non-unanimous settlement with the Pennsylvania Public Utility Commission (PaPUC). This settlement agreement addresses various aspects of the proposed merger and was entered into with several key parties, including the Bureau of Investigation and Enforcement and the Office of the Consumer Advocate. While this filing represents progress towards regulatory approval, it's important for investors to note that not all parties to the proceeding have joined the settlement. The agreement now awaits review and a Recommended Decision from the Administrative Law Judges (ALJs) before being presented to the PaPUC for final approval. This step is crucial for the merger's progression, and any conditions imposed by the PaPUC could impact the deal's terms and expected benefits.
  2. 8-KAmerican Water Works Company, Inc. 8-K Report, Corporate Update (Sep 16, 2026)American Water Works Company, Inc. (AWK), through its wholly owned finance subsidiary American Water Capital Corp. (AWCC), successfully closed a $500.0 million offering of 5.550% Senior Notes due 2033 on September 16, 2026. The net proceeds, approximately $496.6 million after underwriting discounts, will be strategically deployed to strengthen AWK's financial position and support its regulated utility operations. Key uses of the proceeds include repaying $250.0 million of AWCC's maturing 3.000% senior notes due December 1, 2026, and providing funds for American Water and its regulated subsidiaries. Additionally, a portion will be used to reduce AWCC's outstanding commercial paper, with any remaining funds allocated for general corporate purposes. This refinancing activity demonstrates AWK's proactive approach to managing its debt obligations and ensuring continued financial flexibility for its regulated business segments.
  3. 8-KAmerican Water Works Company, Inc. 8-K Report, Corporate Update (Sep 9, 2026)American Water Works Company, Inc. (AWK) announced a significant development for its New Jersey subsidiary, New Jersey American Water, through an 8-K filing on September 9, 2026. The New Jersey Board of Public Utilities (NJBPU) has approved a settlement in the general rate case, authorizing an increase in annualized water and wastewater revenues of $68 million, effective September 15, 2026. This approval is a positive outcome for the company, as it represents a substantial portion of the originally requested revenue increase, mitigating potential dilution from the prior rate case. This revenue adjustment is primarily driven by $1.4 billion in incremental capital investments made by New Jersey American Water since its last rate case. The approved settlement includes key financial metrics such as an authorized return on equity (ROE) of 9.5% and an authorized rate base of $6.06 billion. Investors should note that this rate case outcome is crucial for AWK's earnings stability and future growth prospects in a key operating state.
  4. 8-KAmerican Water Works Company, Inc. 8-K Report, Regulation FD Disclosure (Aug 31, 2026)American Water Works Company, Inc. (AWK) has filed an 8-K report disclosing an interim order from Administrative Law Judges of the Pennsylvania Public Utility Commission (PaPUC) concerning its proposed merger with Essential Utilities, Inc. The order indicates that a non-unanimous settlement has been reached by the parties involved, subject to final PaPUC approval. This development is a step forward in the regulatory process for the merger, although the non-unanimous nature means final approval is not guaranteed and potential conditions or objections could still arise. Investors should monitor the PaPUC's final decision closely, as it will significantly impact the timeline and terms of the proposed acquisition. While the settlement signifies progress, the market will be keenly observing any further regulatory hurdles or specific conditions imposed by the PaPUC. The company continues to emphasize that actual results may differ materially from forward-looking statements due to various risks, including regulatory approvals, integration challenges, and macroeconomic factors.
  5. 8-KAmerican Water Works Company, Inc. 8-K Report, Financial Results (Jul 29, 2026)American Water Works Company, Inc. (AWK) announced its financial results for the second quarter ended June 30, 2026, via a press release filed on July 29, 2026. While the specific financial figures are detailed within the accompanying press release (Exhibit 99.1), this filing serves as notification of the results and does not contain extensive new operational or strategic information beyond what is presented in the press release. Investors should refer to the press release for detailed insights into the company's performance during the quarter.
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04—See also

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