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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and COHEN & STEERS, INC. (CNS). Click either name above to swap in a different company.
AMERICAN STATES WATER CO is the larger business by last-quarter revenue ($164.3M vs $143.8M, roughly 1.1× COHEN & STEERS, INC.). COHEN & STEERS, INC. runs the higher net margin — 24.3% vs 17.5%, a 6.8% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs 2.9%). AMERICAN STATES WATER CO produced more free cash flow last quarter ($-36.0M vs $-126.4M). Over the past eight quarters, AMERICAN STATES WATER CO's revenue compounded faster (10.2% CAGR vs 8.3%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
Cohen & Steers is an American investment management company. It focuses on investments in real estate securities via real estate investment trusts (REIT) and alternative income via preferred securities.
AWR vs CNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $143.8M |
| Net Profit | $28.7M | $34.9M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | 28.0% |
| Net Margin | 17.5% | 24.3% |
| Revenue YoY | 14.8% | 2.9% |
| Net Profit YoY | 1.1% | -23.9% |
| EPS (diluted) | $0.74 | $0.67 |
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 | $143.8M | ||
| Q3 25 | $182.7M | $141.7M | ||
| Q2 25 | $163.1M | $136.1M | ||
| Q1 25 | $148.0M | $134.5M | ||
| Q4 24 | $143.1M | $139.8M | ||
| Q3 24 | $161.8M | $133.2M | ||
| Q2 24 | $155.3M | $121.7M | ||
| Q1 24 | $135.3M | $122.7M |
| Q4 25 | $28.7M | $34.9M | ||
| Q3 25 | $41.2M | $41.7M | ||
| Q2 25 | $33.7M | $36.8M | ||
| Q1 25 | $26.8M | $39.8M | ||
| Q4 24 | $28.4M | $45.8M | ||
| Q3 24 | $35.8M | $39.7M | ||
| Q2 24 | $31.9M | $31.8M | ||
| Q1 24 | $23.1M | $34.0M |
| 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% | 28.0% | ||
| Q3 25 | 33.8% | 34.5% | ||
| Q2 25 | 31.3% | 31.8% | ||
| Q1 25 | 30.8% | 33.6% | ||
| Q4 24 | 27.0% | 35.3% | ||
| Q3 24 | 34.0% | 33.7% | ||
| Q2 24 | 33.3% | 31.5% | ||
| Q1 24 | 28.8% | 32.8% |
| Q4 25 | 17.5% | 24.3% | ||
| Q3 25 | 22.5% | 29.4% | ||
| Q2 25 | 20.7% | 27.1% | ||
| Q1 25 | 18.1% | 29.6% | ||
| Q4 24 | 19.9% | 32.8% | ||
| Q3 24 | 22.1% | 29.8% | ||
| Q2 24 | 20.5% | 26.1% | ||
| Q1 24 | 17.1% | 27.7% |
| Q4 25 | $0.74 | $0.67 | ||
| Q3 25 | $1.06 | $0.81 | ||
| Q2 25 | $0.87 | $0.72 | ||
| Q1 25 | $0.70 | $0.77 | ||
| Q4 24 | $0.75 | $0.89 | ||
| Q3 24 | $0.95 | $0.77 | ||
| Q2 24 | $0.85 | $0.63 | ||
| Q1 24 | $0.62 | $0.68 |
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 | $145.5M |
| Total DebtLower is stronger | $782.7M | — |
| Stockholders' EquityBook value | $1.0B | $562.0M |
| Total Assets | $2.7B | $876.7M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $145.5M | ||
| Q3 25 | $26.1M | $98.1M | ||
| Q2 25 | $20.2M | $95.4M | ||
| Q1 25 | $21.2M | $65.2M | ||
| Q4 24 | $26.7M | $183.0M | ||
| Q3 24 | $16.5M | $106.5M | ||
| Q2 24 | $3.6M | $122.0M | ||
| Q1 24 | $17.0M | $99.5M |
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | $562.0M | ||
| Q3 25 | $1.0B | $550.3M | ||
| Q2 25 | $972.5M | $528.5M | ||
| Q1 25 | $956.4M | $507.7M | ||
| Q4 24 | $920.1M | $511.7M | ||
| Q3 24 | $879.5M | $491.0M | ||
| Q2 24 | $833.5M | $463.2M | ||
| Q1 24 | $800.5M | $378.9M |
| Q4 25 | $2.7B | $876.7M | ||
| Q3 25 | $2.7B | $801.6M | ||
| Q2 25 | $2.6B | $751.0M | ||
| Q1 25 | $2.5B | $834.9M | ||
| Q4 24 | $2.5B | $812.4M | ||
| Q3 24 | $2.4B | $727.8M | ||
| Q2 24 | $2.3B | $784.1M | ||
| Q1 24 | $2.3B | $680.7M |
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $27.7M | $-120.4M |
| Free Cash FlowOCF − Capex | $-36.0M | $-126.4M |
| FCF MarginFCF / Revenue | -21.9% | -87.9% |
| Capex IntensityCapex / Revenue | 38.8% | 4.2% |
| Cash ConversionOCF / Net Profit | 0.96× | -3.45× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $-253.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $-120.4M | ||
| Q3 25 | $92.4M | $55.1M | ||
| Q2 25 | $64.6M | $-67.6M | ||
| Q1 25 | $45.1M | $-108.9M | ||
| Q4 24 | $64.5M | $96.7M | ||
| Q3 24 | $63.7M | $25.6M | ||
| Q2 24 | $24.7M | $31.4M | ||
| Q1 24 | $45.8M | $4.9M |
| Q4 25 | $-36.0M | $-126.4M | ||
| Q3 25 | $37.7M | $52.6M | ||
| Q2 25 | $13.7M | $-69.8M | ||
| Q1 25 | $-22.5M | $-110.0M | ||
| Q4 24 | $6.0M | $85.0M | ||
| Q3 24 | $-478.0K | $24.2M | ||
| Q2 24 | $-37.0M | $27.1M | ||
| Q1 24 | $-1.7M | $537.0K |
| Q4 25 | -21.9% | -87.9% | ||
| Q3 25 | 20.7% | 37.1% | ||
| Q2 25 | 8.4% | -51.3% | ||
| Q1 25 | -15.2% | -81.8% | ||
| Q4 24 | 4.2% | 60.8% | ||
| Q3 24 | -0.3% | 18.2% | ||
| Q2 24 | -23.8% | 22.3% | ||
| Q1 24 | -1.3% | 0.4% |
| Q4 25 | 38.8% | 4.2% | ||
| Q3 25 | 29.9% | 1.8% | ||
| Q2 25 | 31.2% | 1.6% | ||
| Q1 25 | 45.6% | 0.8% | ||
| Q4 24 | 40.9% | 8.3% | ||
| Q3 24 | 39.7% | 1.1% | ||
| Q2 24 | 39.8% | 3.5% | ||
| Q1 24 | 35.2% | 3.5% |
| Q4 25 | 0.96× | -3.45× | ||
| Q3 25 | 2.24× | 1.32× | ||
| Q2 25 | 1.92× | -1.84× | ||
| Q1 25 | 1.68× | -2.74× | ||
| Q4 24 | 2.27× | 2.11× | ||
| Q3 24 | 1.78× | 0.65× | ||
| Q2 24 | 0.78× | 0.99× | ||
| Q1 24 | 1.98× | 0.14× |
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% |
CNS
Segment breakdown not available.
