Direct Answer
American Water Works reported revenue of $5.1 billion for the fiscal year ended December 31, 2025, with an operating margin of 36.7% and net income of $1.1 billion, according to its SEC filings. Revenue grew 10.1% from the prior year.
What Are American Water Works's Key Financial Figures?
| Fiscal year | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended December 31, 2022 |
|---|---|---|---|---|
| Revenue | $5.1 billion | $4.7 billion | $4.2 billion | $3.8 billion |
| Operating income | $1.9 billion | $1.7 billion | $1.5 billion | $1.3 billion |
| Operating margin | 36.7% | 36.9% | 35.7% | 33.8% |
| Net income | $1.1 billion | $1.1 billion | $944 million | $820 million |
| Net margin | 21.7% | 22.6% | 22.4% | 21.8% |
| Operating cash flow | $2.1 billion | $2.0 billion | $1.9 billion | $1.1 billion |
| Capital expenditures | $3.1 billion | $2.9 billion | $2.6 billion | $2.3 billion |
| Free cash flow | -$1.1 billion | -$811 million | -$701 million | -$1.2 billion |
Operating margin held roughly steady between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was -$1.1 billion against net income of $1.1 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement.
What Does American Water Works's Balance Sheet Show?
| Cash and cash equivalents | $98 million |
|---|---|
| Long-term debt | $12.8 billion |
| Total assets | $35.4 billion |
| Total liabilities | Not reported |
| Shareholders' equity | $10.8 billion |
| Current ratio | 0.5x |
Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value American Water Works reported in its own SEC filings, read from the SEC's XBRL data (accession 0001410636-26-000034 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was American Water Works's revenue in fiscal 2025?
American Water Works reported revenue of $5.1 billion for the fiscal year ended December 31, 2025, according to its SEC filings.
What is American Water Works's operating margin?
American Water Works's operating margin was 36.7% in fiscal 2025: operating income of $1.9 billion on revenue of $5.1 billion.
How much free cash flow did American Water Works generate?
Operating cash flow of $2.1 billion less capital expenditures of $3.1 billion gives free cash flow of -$1.1 billion for fiscal 2025.