How do American Water Works and Lineage, Inc. compare by revenue?

American Water Works reported revenue of $1.3B in Q4 FY2025, while Lineage, Inc. reported $1.4B in Q3 FY2025. Lineage, Inc. is 1.1× larger by last-quarter revenue.

Which is growing revenue faster, American Water Works or Lineage, Inc.?

American Water Works's latest revenue grew 5.8% year-over-year, versus 3.1% for Lineage, Inc.. American Water Works is growing faster on a YoY basis.

Which has a higher net margin, American Water Works or Lineage, Inc.?

American Water Works's net margin is 18.7% vs Lineage, Inc.'s -7.3%. American Water Works has the higher bottom-line margin.

Which generates more free cash flow, American Water Works or Lineage, Inc.?

American Water Works generated $-385.0M of free cash flow last quarter, versus $35.0M for Lineage, Inc.. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

Where does this AWK vs LINE data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of American Water Works (AWK) and Lineage, Inc. (LINE). Click either name above to swap in a different company.

Lineage, Inc. is the larger business by last-quarter revenue ($1.4B vs $1.3B, roughly 1.1× American Water Works). American Water Works runs the higher net margin — 18.7% vs -7.3%, a 26.0% gap on every dollar of revenue. On growth, American Water Works posted the faster year-over-year revenue change (5.8% vs 3.1%). Lineage, Inc. produced more free cash flow last quarter ($35.0M vs $-385.0M).

American Water WorksAWKEarnings & Financial Report

NYSE · Utilities · Regulated Water

American Water Works Company, Inc., through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers...

Lineage, Inc.LINEEarnings & Financial Report

Nasdaq · Financials · Real Estate Investment Trusts

Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.

AWK vs LINE — Head-to-Head

Bigger by revenue

LINE

1.1× larger

$1.4B

$1.3B

Growing faster (revenue YoY)

AWK

+2.7% gap

5.8%

3.1%

Higher net margin

AWK

26.0% more per $

18.7%

-7.3%

More free cash flow

LINE

$420.0M more FCF

$35.0M

$-385.0M

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric	AWK	LINE
Revenue	$1.3B	$1.4B
Net Profit	$238.0M	$-100.0M
Gross Margin	—	32.3%
Operating Margin	31.9%	2.5%
Net Margin	18.7%	-7.3%
Revenue YoY	5.8%	3.1%
Net Profit YoY	-0.4%	79.4%
EPS (diluted)	$1.22	$-0.44

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

AWK

LINE

Q4 25	$1.3B	—
Q3 25	$1.5B	$1.4B
Q2 25	$1.3B	$1.4B
Q1 25	$1.1B	$1.3B
Q4 24	$1.2B	$1.3B
Q3 24	$1.3B	$1.3B
Q2 24	$1.1B	$1.3B
Q1 24	$1.0B	$1.3B

Net Profit

AWK

LINE

Q4 25	$238.0M	—
Q3 25	$379.0M	$-100.0M
Q2 25	$289.0M	$-6.0M
Q1 25	$205.0M	$0
Q4 24	$239.0M	$-71.0M
Q3 24	$350.0M	$-485.0M
Q2 24	$277.0M	$-68.0M
Q1 24	$185.0M	$-40.0M

Gross Margin

AWK

LINE

Q4 25	—	—
Q3 25	—	32.3%
Q2 25	—	31.9%
Q1 25	—	32.2%
Q4 24	—	32.3%
Q3 24	—	32.8%
Q2 24	—	33.4%
Q1 24	—	33.4%

Operating Margin

AWK

LINE

Q4 25	31.9%	—
Q3 25	42.2%	2.5%
Q2 25	38.4%	1.7%
Q1 25	32.7%	4.3%
Q4 24	33.3%	-1.6%
Q3 24	40.9%	-38.6%
Q2 24	39.4%	5.5%
Q1 24	32.5%	7.6%

Net Margin

AWK

LINE

Q4 25	18.7%	—
Q3 25	26.1%	-7.3%
Q2 25	22.7%	-0.4%
Q1 25	18.1%	—
Q4 24	19.9%	-5.3%
Q3 24	26.4%	-36.3%
Q2 24	24.3%	-5.1%
Q1 24	18.4%	-3.0%

EPS (diluted)

AWK

LINE

Q4 25	$1.22	—
Q3 25	$1.94	$-0.44
Q2 25	$1.48	$-0.03
Q1 25	$1.05	$0.01
Q4 24	$1.22	$-0.52
Q3 24	$1.80	$-2.44
Q2 24	$1.42	$-0.46
Q1 24	$0.95	$-0.28

Balance Sheet & Financial Strength

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

Metric	AWK	LINE
Cash + ST InvestmentsLiquidity on hand	$98.0M	—
Total DebtLower is stronger	$12.8B	—
Stockholders' EquityBook value	$10.8B	$8.4B
Total Assets	$35.4B	$19.2B
Debt / EquityLower = less leverage	1.18×	—

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

AWK

LINE

Q4 25	$98.0M	—
Q3 25	$166.0M	—
Q2 25	$94.0M	—
Q1 25	$114.0M	—
Q4 24	$96.0M	$173.0M
Q3 24	$127.0M	$409.0M
Q2 24	$48.0M	$73.0M
Q1 24	$584.0M	—

Total Debt

AWK

LINE

Q4 25	$12.8B	—
Q3 25	$13.0B	—
Q2 25	$12.3B	—
Q1 25	$13.3B	—
Q4 24	$12.5B	—
Q3 24	$12.6B	—
Q2 24	$12.6B	—
Q1 24	$12.6B	—

Stockholders' Equity

AWK

LINE

Q4 25	$10.8B	—
Q3 25	$10.9B	$8.4B
Q2 25	$10.7B	$8.6B
Q1 25	$10.5B	$8.6B
Q4 24	$10.3B	$8.6B
Q3 24	$10.4B	$9.0B
Q2 24	$10.2B	$4.9B
Q1 24	$10.0B	$5.6B

Total Assets

AWK

LINE

Q4 25	$35.4B	—
Q3 25	$34.7B	$19.2B
Q2 25	$33.9B	$19.4B
Q1 25	$33.2B	$18.8B
Q4 24	$32.8B	$18.7B
Q3 24	$31.8B	$19.3B
Q2 24	$31.2B	$18.8B
Q1 24	$31.1B	—

Debt / Equity

AWK

LINE

Q4 25	1.18×	—
Q3 25	1.19×	—
Q2 25	1.15×	—
Q1 25	1.26×	—
Q4 24	1.21×	—
Q3 24	1.21×	—
Q2 24	1.24×	—
Q1 24	1.26×	—

Cash Flow & Capital Efficiency

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

Metric	AWK	LINE
Operating Cash FlowLast quarter	$663.0M	$230.0M
Free Cash FlowOCF − Capex	$-385.0M	$35.0M
FCF MarginFCF / Revenue	-30.3%	2.5%
Capex IntensityCapex / Revenue	82.5%	14.2%
Cash ConversionOCF / Net Profit	2.79×	—
TTM Free Cash FlowTrailing 4 quarters	$-1.1B	—

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow

AWK

LINE

Q4 25	$663.0M	—
Q3 25	$764.0M	$230.0M
Q2 25	$301.0M	$258.0M
Q1 25	$331.0M	$139.0M
Q4 24	$639.0M	—
Q3 24	$679.0M	$186.0M
Q2 24	$345.0M	$155.0M
Q1 24	$382.0M	$105.0M

Free Cash Flow

AWK

LINE

Q4 25	$-385.0M	—
Q3 25	$-33.0M	$35.0M
Q2 25	$-432.0M	$95.0M
Q1 25	$-217.0M	$-12.0M
Q4 24	$-255.0M	—
Q3 24	$-4.0M	$33.0M
Q2 24	$-325.0M	$-31.0M
Q1 24	$-227.0M	$-42.0M

FCF Margin

AWK

LINE

Q4 25	-30.3%	—
Q3 25	-2.3%	2.5%
Q2 25	-34.0%	7.0%
Q1 25	-19.1%	-0.9%
Q4 24	-21.2%	—
Q3 24	-0.3%	2.5%
Q2 24	-28.5%	-2.3%
Q1 24	-22.6%	-3.2%

Capex Intensity

AWK

LINE

Q4 25	82.5%	—
Q3 25	54.8%	14.2%
Q2 25	57.6%	12.1%
Q1 25	48.3%	11.7%
Q4 24	74.4%	—
Q3 24	51.4%	11.5%
Q2 24	58.8%	13.9%
Q1 24	60.7%	11.1%

Cash Conversion

AWK

LINE

Q4 25	2.79×	—
Q3 25	2.02×	—
Q2 25	1.04×	—
Q1 25	1.61×	—
Q4 24	2.67×	—
Q3 24	1.94×	—
Q2 24	1.25×	—
Q1 24	2.06×	—

Financial Flow Comparison

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

Revenue Breakdown by Segment

AWK

Water Services	$1.0B	81%
Other	$127.0M	10%
Wastewater Services	$101.0M	8%
Miscellaneous Utility Charge	$11.0M	1%

LINE

Warehousing Operations	$883.0M	64%
Other	$308.0M	22%
Warehouse Lease	$60.0M	4%
Food Sales	$52.0M	4%
E Commerce And Other	$46.0M	3%
Railcar Lease	$23.0M	2%
Service Other	$5.0M	0%