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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and PATHWARD FINANCIAL, INC. (CASH). Click either name above to swap in a different company.
PATHWARD FINANCIAL, INC. is the larger business by last-quarter revenue ($173.1M vs $164.3M, roughly 1.1× AMERICAN STATES WATER CO). PATHWARD FINANCIAL, INC. runs the higher net margin — 20.3% vs 17.5%, a 2.8% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs -0.2%). PATHWARD FINANCIAL, INC. produced more free cash flow last quarter ($104.1M vs $-36.0M). Over the past eight quarters, AMERICAN STATES WATER CO's revenue compounded faster (10.2% CAGR vs -18.0%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
AWR vs CASH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $173.1M |
| Net Profit | $28.7M | $35.2M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | 24.6% |
| Net Margin | 17.5% | 20.3% |
| Revenue YoY | 14.8% | -0.2% |
| Net Profit YoY | 1.1% | 11.9% |
| EPS (diluted) | $0.74 | $1.57 |
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.
| Q4 25 | $164.3M | $173.1M | ||
| Q3 25 | $182.7M | $186.7M | ||
| Q2 25 | $163.1M | $195.8M | ||
| Q1 25 | $148.0M | $274.8M | ||
| Q4 24 | $143.1M | $182.6M | ||
| Q3 24 | $161.8M | $179.5M | ||
| Q2 24 | $155.3M | $188.6M | ||
| Q1 24 | $135.3M | $257.6M |
| Q4 25 | $28.7M | $35.2M | ||
| Q3 25 | $41.2M | $38.8M | ||
| Q2 25 | $33.7M | $42.1M | ||
| Q1 25 | $26.8M | $75.0M | ||
| Q4 24 | $28.4M | $30.0M | ||
| Q3 24 | $35.8M | $33.5M | ||
| Q2 24 | $31.9M | $44.9M | ||
| Q1 24 | $23.1M | $69.9M |
| 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% | — |
| Q4 25 | 27.4% | 24.6% | ||
| Q3 25 | 33.8% | 25.9% | ||
| Q2 25 | 31.3% | 24.1% | ||
| Q1 25 | 30.8% | 33.2% | ||
| Q4 24 | 27.0% | 19.8% | ||
| Q3 24 | 34.0% | 20.9% | ||
| Q2 24 | 33.3% | 27.1% | ||
| Q1 24 | 28.8% | 33.8% |
| Q4 25 | 17.5% | 20.3% | ||
| Q3 25 | 22.5% | 20.8% | ||
| Q2 25 | 20.7% | 21.5% | ||
| Q1 25 | 18.1% | 27.3% | ||
| Q4 24 | 19.9% | 16.4% | ||
| Q3 24 | 22.1% | 18.7% | ||
| Q2 24 | 20.5% | 23.8% | ||
| Q1 24 | 17.1% | 27.1% |
| Q4 25 | $0.74 | $1.57 | ||
| Q3 25 | $1.06 | $1.69 | ||
| Q2 25 | $0.87 | $1.81 | ||
| Q1 25 | $0.70 | $3.14 | ||
| Q4 24 | $0.75 | $1.23 | ||
| Q3 24 | $0.95 | $1.34 | ||
| Q2 24 | $0.85 | $1.78 | ||
| Q1 24 | $0.62 | $2.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.8M | $331.2M |
| Total DebtLower is stronger | $782.7M | $33.5M |
| Stockholders' EquityBook value | $1.0B | $854.5M |
| Total Assets | $2.7B | $7.6B |
| Debt / EquityLower = less leverage | 0.75× | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $331.2M | ||
| Q3 25 | $26.1M | $120.6M | ||
| Q2 25 | $20.2M | $258.3M | ||
| Q1 25 | $21.2M | $254.2M | ||
| Q4 24 | $26.7M | $597.4M | ||
| Q3 24 | $16.5M | $158.3M | ||
| Q2 24 | $3.6M | $298.9M | ||
| Q1 24 | $17.0M | $347.9M |
| Q4 25 | $782.7M | $33.5M | ||
| Q3 25 | — | $33.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.4M | ||
| Q4 24 | $640.4M | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $33.4M |
| Q4 25 | $1.0B | $854.5M | ||
| Q3 25 | $1.0B | $858.0M | ||
| Q2 25 | $972.5M | $819.0M | ||
| Q1 25 | $956.4M | $814.7M | ||
| Q4 24 | $920.1M | $758.3M | ||
| Q3 24 | $879.5M | $822.5M | ||
| Q2 24 | $833.5M | $748.4M | ||
| Q1 24 | $800.5M | $719.5M |
| Q4 25 | $2.7B | $7.6B | ||
| Q3 25 | $2.7B | $7.2B | ||
| Q2 25 | $2.6B | $7.2B | ||
| Q1 25 | $2.5B | $7.0B | ||
| Q4 24 | $2.5B | $7.6B | ||
| Q3 24 | $2.4B | $7.5B | ||
| Q2 24 | $2.3B | $7.5B | ||
| Q1 24 | $2.3B | $7.4B |
| Q4 25 | 0.75× | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | 0.70× | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× | ||
| Q1 24 | — | 0.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $27.7M | $108.3M |
| Free Cash FlowOCF − Capex | $-36.0M | $104.1M |
| FCF MarginFCF / Revenue | -21.9% | 60.1% |
| Capex IntensityCapex / Revenue | 38.8% | 2.4% |
| Cash ConversionOCF / Net Profit | 0.96× | 3.08× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $616.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $108.3M | ||
| Q3 25 | $92.4M | $303.7M | ||
| Q2 25 | $64.6M | $30.4M | ||
| Q1 25 | $45.1M | $188.3M | ||
| Q4 24 | $64.5M | $-71.7M | ||
| Q3 24 | $63.7M | $143.1M | ||
| Q2 24 | $24.7M | $113.2M | ||
| Q1 24 | $45.8M | $203.0M |
| Q4 25 | $-36.0M | $104.1M | ||
| Q3 25 | $37.7M | $300.3M | ||
| Q2 25 | $13.7M | $27.7M | ||
| Q1 25 | $-22.5M | $184.7M | ||
| Q4 24 | $6.0M | $-73.8M | ||
| Q3 24 | $-478.0K | $138.8M | ||
| Q2 24 | $-37.0M | $111.0M | ||
| Q1 24 | $-1.7M | $201.3M |
| Q4 25 | -21.9% | 60.1% | ||
| Q3 25 | 20.7% | 160.9% | ||
| Q2 25 | 8.4% | 14.1% | ||
| Q1 25 | -15.2% | 67.2% | ||
| Q4 24 | 4.2% | -40.4% | ||
| Q3 24 | -0.3% | 77.3% | ||
| Q2 24 | -23.8% | 58.8% | ||
| Q1 24 | -1.3% | 78.1% |
| Q4 25 | 38.8% | 2.4% | ||
| Q3 25 | 29.9% | 1.8% | ||
| Q2 25 | 31.2% | 1.4% | ||
| Q1 25 | 45.6% | 1.3% | ||
| Q4 24 | 40.9% | 1.1% | ||
| Q3 24 | 39.7% | 2.4% | ||
| Q2 24 | 39.8% | 1.2% | ||
| Q1 24 | 35.2% | 0.7% |
| Q4 25 | 0.96× | 3.08× | ||
| Q3 25 | 2.24× | 7.83× | ||
| Q2 25 | 1.92× | 0.72× | ||
| Q1 25 | 1.68× | 2.51× | ||
| Q4 24 | 2.27× | -2.39× | ||
| Q3 24 | 1.78× | 4.27× | ||
| Q2 24 | 0.78× | 2.52× | ||
| Q1 24 | 1.98× | 2.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
