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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and FIRST MID BANCSHARES, INC. (FMBH). 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 $88.2M, roughly 1.9× FIRST MID BANCSHARES, INC.). FIRST MID BANCSHARES, INC. runs the higher net margin — 26.8% vs 17.5%, a 9.3% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs 3.4%). FIRST MID BANCSHARES, INC. produced more free cash flow last quarter ($124.0M vs $-36.0M). Over the past eight quarters, AMERICAN STATES WATER CO's revenue compounded faster (10.2% CAGR vs 5.0%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
First Mid Bancshares Inc. is a U.S.-headquartered regional financial services holding company. It provides full-range retail and commercial banking products, wealth management, insurance solutions, and agricultural financing, mainly serving individual consumers, small and medium-sized enterprises, and agricultural clients across multiple Midwestern states including Illinois, Missouri, and Indiana.
AWR vs FMBH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $88.2M |
| Net Profit | $28.7M | $23.7M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | 34.0% |
| Net Margin | 17.5% | 26.8% |
| Revenue YoY | 14.8% | 3.4% |
| Net Profit YoY | 1.1% | 23.5% |
| EPS (diluted) | $0.74 | $0.98 |
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 | $88.2M | ||
| Q3 25 | $182.7M | $89.3M | ||
| Q2 25 | $163.1M | $87.5M | ||
| Q1 25 | $148.0M | $84.3M | ||
| Q4 24 | $143.1M | $85.3M | ||
| Q3 24 | $161.8M | $80.6M | ||
| Q2 24 | $155.3M | $79.2M | ||
| Q1 24 | $135.3M | $79.9M |
| Q4 25 | $28.7M | $23.7M | ||
| Q3 25 | $41.2M | $22.5M | ||
| Q2 25 | $33.7M | $23.4M | ||
| Q1 25 | $26.8M | $22.2M | ||
| Q4 24 | $28.4M | $19.2M | ||
| Q3 24 | $35.8M | $19.5M | ||
| Q2 24 | $31.9M | $19.7M | ||
| Q1 24 | $23.1M | $20.5M |
| 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% | 34.0% | ||
| Q3 25 | 33.8% | 32.2% | ||
| Q2 25 | 31.3% | 34.4% | ||
| Q1 25 | 30.8% | 33.4% | ||
| Q4 24 | 27.0% | 29.7% | ||
| Q3 24 | 34.0% | 31.5% | ||
| Q2 24 | 33.3% | 33.7% | ||
| Q1 24 | 28.8% | 33.7% |
| Q4 25 | 17.5% | 26.8% | ||
| Q3 25 | 22.5% | 25.2% | ||
| Q2 25 | 20.7% | 26.8% | ||
| Q1 25 | 18.1% | 26.3% | ||
| Q4 24 | 19.9% | 22.5% | ||
| Q3 24 | 22.1% | 24.2% | ||
| Q2 24 | 20.5% | 24.9% | ||
| Q1 24 | 17.1% | 25.6% |
| Q4 25 | $0.74 | $0.98 | ||
| Q3 25 | $1.06 | $0.94 | ||
| Q2 25 | $0.87 | $0.98 | ||
| Q1 25 | $0.70 | $0.93 | ||
| Q4 24 | $0.75 | $0.81 | ||
| Q3 24 | $0.95 | $0.81 | ||
| Q2 24 | $0.85 | $0.82 | ||
| Q1 24 | $0.62 | $0.86 |
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 | — |
| Total DebtLower is stronger | $782.7M | $354.5M |
| Stockholders' EquityBook value | $1.0B | $958.7M |
| Total Assets | $2.7B | $8.0B |
| Debt / EquityLower = less leverage | 0.75× | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| 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 | — |
| Q4 25 | $782.7M | $354.5M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | $958.7M | ||
| Q3 25 | $1.0B | $932.2M | ||
| Q2 25 | $972.5M | $894.1M | ||
| Q1 25 | $956.4M | $870.9M | ||
| Q4 24 | $920.1M | $846.4M | ||
| Q3 24 | $879.5M | $858.5M | ||
| Q2 24 | $833.5M | $813.6M | ||
| Q1 24 | $800.5M | $798.0M |
| Q4 25 | $2.7B | $8.0B | ||
| Q3 25 | $2.7B | $7.8B | ||
| Q2 25 | $2.6B | $7.7B | ||
| Q1 25 | $2.5B | $7.6B | ||
| Q4 24 | $2.5B | $7.5B | ||
| Q3 24 | $2.4B | $7.6B | ||
| Q2 24 | $2.3B | $7.6B | ||
| Q1 24 | $2.3B | $7.7B |
| Q4 25 | 0.75× | 0.37× | ||
| 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 | $130.9M |
| Free Cash FlowOCF − Capex | $-36.0M | $124.0M |
| FCF MarginFCF / Revenue | -21.9% | 140.6% |
| Capex IntensityCapex / Revenue | 38.8% | 7.8% |
| Cash ConversionOCF / Net Profit | 0.96× | 5.53× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $207.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $130.9M | ||
| Q3 25 | $92.4M | $33.0M | ||
| Q2 25 | $64.6M | $7.7M | ||
| Q1 25 | $45.1M | $47.9M | ||
| Q4 24 | $64.5M | $124.4M | ||
| Q3 24 | $63.7M | $33.1M | ||
| Q2 24 | $24.7M | $24.0M | ||
| Q1 24 | $45.8M | $29.0M |
| Q4 25 | $-36.0M | $124.0M | ||
| Q3 25 | $37.7M | $31.9M | ||
| Q2 25 | $13.7M | $6.0M | ||
| Q1 25 | $-22.5M | $46.0M | ||
| Q4 24 | $6.0M | $119.5M | ||
| Q3 24 | $-478.0K | $32.0M | ||
| Q2 24 | $-37.0M | $22.9M | ||
| Q1 24 | $-1.7M | $27.6M |
| Q4 25 | -21.9% | 140.6% | ||
| Q3 25 | 20.7% | 35.8% | ||
| Q2 25 | 8.4% | 6.8% | ||
| Q1 25 | -15.2% | 54.5% | ||
| Q4 24 | 4.2% | 140.0% | ||
| Q3 24 | -0.3% | 39.7% | ||
| Q2 24 | -23.8% | 28.9% | ||
| Q1 24 | -1.3% | 34.5% |
| Q4 25 | 38.8% | 7.8% | ||
| Q3 25 | 29.9% | 1.2% | ||
| Q2 25 | 31.2% | 2.0% | ||
| Q1 25 | 45.6% | 2.3% | ||
| Q4 24 | 40.9% | 5.8% | ||
| Q3 24 | 39.7% | 1.4% | ||
| Q2 24 | 39.8% | 1.4% | ||
| Q1 24 | 35.2% | 1.9% |
| Q4 25 | 0.96× | 5.53× | ||
| Q3 25 | 2.24× | 1.47× | ||
| Q2 25 | 1.92× | 0.33× | ||
| Q1 25 | 1.68× | 2.16× | ||
| Q4 24 | 2.27× | 6.49× | ||
| Q3 24 | 1.78× | 1.70× | ||
| Q2 24 | 0.78× | 1.21× | ||
| Q1 24 | 1.98× | 1.42× |
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% |
FMBH
Segment breakdown not available.
