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Side-by-side financial comparison of Acadian Asset Management Inc. (AAMI) and AMERICAN STATES WATER CO (AWR). Click either name above to swap in a different company.

Acadian Asset Management Inc. is the larger business by last-quarter revenue ($172.2M vs $164.3M, roughly 1.0× AMERICAN STATES WATER CO). Acadian Asset Management Inc. runs the higher net margin — 20.2% vs 17.5%, a 2.7% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs 2.6%). Over the past eight quarters, Acadian Asset Management Inc.'s revenue compounded faster (27.6% CAGR vs 10.2%).

United Asset Management was an American holding company headquartered in Boston, Massachusetts.

American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.

AAMI vs AWR — Head-to-Head

Bigger by revenue
AAMI
AAMI
1.0× larger
AAMI
$172.2M
$164.3M
AWR
Growing faster (revenue YoY)
AWR
AWR
+12.2% gap
AWR
14.8%
2.6%
AAMI
Higher net margin
AAMI
AAMI
2.7% more per $
AAMI
20.2%
17.5%
AWR
Faster 2-yr revenue CAGR
AAMI
AAMI
Annualised
AAMI
27.6%
10.2%
AWR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
AAMI
AAMI
AWR
AWR
Revenue
$172.2M
$164.3M
Net Profit
$34.7M
$28.7M
Gross Margin
88.9%
Operating Margin
33.3%
27.4%
Net Margin
20.2%
17.5%
Revenue YoY
2.6%
14.8%
Net Profit YoY
-18.4%
1.1%
EPS (diluted)
$0.97
$0.74

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AAMI
AAMI
AWR
AWR
Q4 25
$172.2M
$164.3M
Q3 25
$144.2M
$182.7M
Q2 25
$127.4M
$163.1M
Q1 25
$119.9M
$148.0M
Q4 24
$167.8M
$143.1M
Q3 24
$123.1M
$161.8M
Q2 24
$109.0M
$155.3M
Q1 24
$105.7M
$135.3M
Net Profit
AAMI
AAMI
AWR
AWR
Q4 25
$34.7M
$28.7M
Q3 25
$15.1M
$41.2M
Q2 25
$10.1M
$33.7M
Q1 25
$20.1M
$26.8M
Q4 24
$42.5M
$28.4M
Q3 24
$16.9M
$35.8M
Q2 24
$11.0M
$31.9M
Q1 24
$14.6M
$23.1M
Gross Margin
AAMI
AAMI
AWR
AWR
Q4 25
88.9%
Q3 25
91.0%
Q2 25
92.1%
Q1 25
91.3%
Q4 24
92.4%
Q3 24
92.7%
Q2 24
89.6%
Q1 24
88.4%
Operating Margin
AAMI
AAMI
AWR
AWR
Q4 25
33.3%
27.4%
Q3 25
18.4%
33.8%
Q2 25
12.7%
31.3%
Q1 25
26.6%
30.8%
Q4 24
38.7%
27.0%
Q3 24
21.9%
34.0%
Q2 24
18.9%
33.3%
Q1 24
21.7%
28.8%
Net Margin
AAMI
AAMI
AWR
AWR
Q4 25
20.2%
17.5%
Q3 25
10.5%
22.5%
Q2 25
7.9%
20.7%
Q1 25
16.8%
18.1%
Q4 24
25.3%
19.9%
Q3 24
13.7%
22.1%
Q2 24
10.1%
20.5%
Q1 24
13.8%
17.1%
EPS (diluted)
AAMI
AAMI
AWR
AWR
Q4 25
$0.97
$0.74
Q3 25
$0.42
$1.06
Q2 25
$0.28
$0.87
Q1 25
$0.54
$0.70
Q4 24
$1.11
$0.75
Q3 24
$0.45
$0.95
Q2 24
$0.29
$0.85
Q1 24
$0.37
$0.62

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AAMI
AAMI
AWR
AWR
Cash + ST InvestmentsLiquidity on hand
$18.8M
Total DebtLower is stronger
$200.0M
$782.7M
Stockholders' EquityBook value
$1.0B
Total Assets
$677.0M
$2.7B
Debt / EquityLower = less leverage
0.75×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AAMI
AAMI
AWR
AWR
Q4 25
$18.8M
Q3 25
$26.1M
Q2 25
$20.2M
Q1 25
$21.2M
Q4 24
$26.7M
Q3 24
$16.5M
Q2 24
$3.6M
Q1 24
$17.0M
Total Debt
AAMI
AAMI
AWR
AWR
Q4 25
$200.0M
$782.7M
Q3 25
Q2 25
Q1 25
Q4 24
$275.0M
$640.4M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
AAMI
AAMI
AWR
AWR
Q4 25
$1.0B
Q3 25
$1.0B
Q2 25
$972.5M
Q1 25
$956.4M
Q4 24
$920.1M
Q3 24
$879.5M
Q2 24
$833.5M
Q1 24
$800.5M
Total Assets
AAMI
AAMI
AWR
AWR
Q4 25
$677.0M
$2.7B
Q3 25
$751.4M
$2.7B
Q2 25
$672.3M
$2.6B
Q1 25
$677.3M
$2.5B
Q4 24
$703.2M
$2.5B
Q3 24
$555.2M
$2.4B
Q2 24
$533.1M
$2.3B
Q1 24
$544.9M
$2.3B
Debt / Equity
AAMI
AAMI
AWR
AWR
Q4 25
0.75×
Q3 25
Q2 25
Q1 25
Q4 24
0.70×
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AAMI
AAMI
AWR
AWR
Operating Cash FlowLast quarter
$-2.4M
$27.7M
Free Cash FlowOCF − Capex
$-36.0M
FCF MarginFCF / Revenue
-21.9%
Capex IntensityCapex / Revenue
38.8%
Cash ConversionOCF / Net Profit
-0.07×
0.96×
TTM Free Cash FlowTrailing 4 quarters
$-7.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AAMI
AAMI
AWR
AWR
Q4 25
$-2.4M
$27.7M
Q3 25
$-23.9M
$92.4M
Q2 25
$61.6M
$64.6M
Q1 25
$-48.8M
$45.1M
Q4 24
$55.8M
$64.5M
Q3 24
$69.6M
$63.7M
Q2 24
$45.7M
$24.7M
Q1 24
$-40.4M
$45.8M
Free Cash Flow
AAMI
AAMI
AWR
AWR
Q4 25
$-36.0M
Q3 25
$37.7M
Q2 25
$13.7M
Q1 25
$-22.5M
Q4 24
$6.0M
Q3 24
$-478.0K
Q2 24
$-37.0M
Q1 24
$-1.7M
FCF Margin
AAMI
AAMI
AWR
AWR
Q4 25
-21.9%
Q3 25
20.7%
Q2 25
8.4%
Q1 25
-15.2%
Q4 24
4.2%
Q3 24
-0.3%
Q2 24
-23.8%
Q1 24
-1.3%
Capex Intensity
AAMI
AAMI
AWR
AWR
Q4 25
38.8%
Q3 25
29.9%
Q2 25
31.2%
Q1 25
45.6%
Q4 24
40.9%
Q3 24
39.7%
Q2 24
39.8%
Q1 24
35.2%
Cash Conversion
AAMI
AAMI
AWR
AWR
Q4 25
-0.07×
0.96×
Q3 25
-1.58×
2.24×
Q2 25
6.10×
1.92×
Q1 25
-2.43×
1.68×
Q4 24
1.31×
2.27×
Q3 24
4.12×
1.78×
Q2 24
4.15×
0.78×
Q1 24
-2.77×
1.98×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AAMI
AAMI

Segment breakdown not available.

AWR
AWR

Water Service Utility Operations$110.0M67%
Public Utilities Inventory Water$22.3M14%
Wastewater$15.9M10%
Electric Service Utility Operations$15.2M9%

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