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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and Hilltop Holdings Inc. (HTH). Click either name above to swap in a different company.
Hilltop Holdings Inc. is the larger business by last-quarter revenue ($300.5M vs $164.3M, roughly 1.8× AMERICAN STATES WATER CO). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs 13.0%, a 4.5% gap on every dollar of revenue. Over the past eight quarters, AMERICAN STATES WATER CO's revenue compounded faster (10.2% CAGR vs 0.6%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
Hilltop Holdings Inc. is a financial holding company based in Dallas, Texas. It offers financial products and banking services through three primary subsidiaries: PlainsCapital Bank, PrimeLending, and HilltopSecurities.
AWR vs HTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $300.5M |
| Net Profit | $28.7M | $39.0M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | — |
| Net Margin | 17.5% | 13.0% |
| Revenue YoY | 14.8% | — |
| Net Profit YoY | 1.1% | -12.4% |
| EPS (diluted) | $0.74 | $0.64 |
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.
| Q1 26 | — | $300.5M | ||
| Q4 25 | $164.3M | $329.9M | ||
| Q3 25 | $182.7M | $330.2M | ||
| Q2 25 | $163.1M | $303.3M | ||
| Q1 25 | $148.0M | $318.5M | ||
| Q4 24 | $143.1M | $301.1M | ||
| Q3 24 | $161.8M | $305.5M | ||
| Q2 24 | $155.3M | $297.0M |
| Q1 26 | — | $39.0M | ||
| Q4 25 | $28.7M | $41.6M | ||
| Q3 25 | $41.2M | $45.8M | ||
| Q2 25 | $33.7M | $36.1M | ||
| Q1 25 | $26.8M | $42.1M | ||
| Q4 24 | $28.4M | $35.5M | ||
| Q3 24 | $35.8M | $29.7M | ||
| Q2 24 | $31.9M | $20.3M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 27.4% | 16.1% | ||
| Q3 25 | 33.8% | 18.4% | ||
| Q2 25 | 31.3% | 16.3% | ||
| Q1 25 | 30.8% | 18.1% | ||
| Q4 24 | 27.0% | 14.7% | ||
| Q3 24 | 34.0% | 13.9% | ||
| Q2 24 | 33.3% | 10.0% |
| Q1 26 | — | 13.0% | ||
| Q4 25 | 17.5% | 12.6% | ||
| Q3 25 | 22.5% | 13.9% | ||
| Q2 25 | 20.7% | 11.9% | ||
| Q1 25 | 18.1% | 13.2% | ||
| Q4 24 | 19.9% | 11.8% | ||
| Q3 24 | 22.1% | 9.7% | ||
| Q2 24 | 20.5% | 6.8% |
| Q1 26 | — | $0.64 | ||
| Q4 25 | $0.74 | $0.68 | ||
| Q3 25 | $1.06 | $0.74 | ||
| Q2 25 | $0.87 | $0.57 | ||
| Q1 25 | $0.70 | $0.65 | ||
| Q4 24 | $0.75 | $0.55 | ||
| Q3 24 | $0.95 | $0.46 | ||
| Q2 24 | $0.85 | $0.31 |
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 | $990.8M |
| Stockholders' EquityBook value | $1.0B | $2.2B |
| Total Assets | $2.7B | $15.7B |
| Debt / EquityLower = less leverage | 0.75× | 0.46× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 26 | — | $990.8M | ||
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $1.0B | $2.2B | ||
| Q3 25 | $1.0B | $2.2B | ||
| Q2 25 | $972.5M | $2.2B | ||
| Q1 25 | $956.4M | $2.2B | ||
| Q4 24 | $920.1M | $2.2B | ||
| Q3 24 | $879.5M | $2.2B | ||
| Q2 24 | $833.5M | $2.1B |
| Q1 26 | — | $15.7B | ||
| Q4 25 | $2.7B | $15.8B | ||
| Q3 25 | $2.7B | $15.6B | ||
| Q2 25 | $2.6B | $15.4B | ||
| Q1 25 | $2.5B | $15.8B | ||
| Q4 24 | $2.5B | $16.3B | ||
| Q3 24 | $2.4B | $15.9B | ||
| Q2 24 | $2.3B | $15.6B |
| Q1 26 | — | 0.46× | ||
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | $-36.0M | — |
| FCF MarginFCF / Revenue | -21.9% | — |
| Capex IntensityCapex / Revenue | 38.8% | — |
| Cash ConversionOCF / Net Profit | 0.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $27.7M | $-38.7M | ||
| Q3 25 | $92.4M | $273.0M | ||
| Q2 25 | $64.6M | $-234.6M | ||
| Q1 25 | $45.1M | $5.8M | ||
| Q4 24 | $64.5M | $273.9M | ||
| Q3 24 | $63.7M | $515.6M | ||
| Q2 24 | $24.7M | $-435.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-36.0M | $-55.5M | ||
| Q3 25 | $37.7M | $271.0M | ||
| Q2 25 | $13.7M | $-234.6M | ||
| Q1 25 | $-22.5M | $5.0M | ||
| Q4 24 | $6.0M | $266.8M | ||
| Q3 24 | $-478.0K | $513.8M | ||
| Q2 24 | $-37.0M | $-437.3M |
| Q1 26 | — | — | ||
| Q4 25 | -21.9% | -16.8% | ||
| Q3 25 | 20.7% | 82.1% | ||
| Q2 25 | 8.4% | -77.4% | ||
| Q1 25 | -15.2% | 1.6% | ||
| Q4 24 | 4.2% | 88.6% | ||
| Q3 24 | -0.3% | 168.2% | ||
| Q2 24 | -23.8% | -147.2% |
| Q1 26 | — | — | ||
| Q4 25 | 38.8% | 5.1% | ||
| Q3 25 | 29.9% | 0.6% | ||
| Q2 25 | 31.2% | 0.0% | ||
| Q1 25 | 45.6% | 0.3% | ||
| Q4 24 | 40.9% | 2.4% | ||
| Q3 24 | 39.7% | 0.6% | ||
| Q2 24 | 39.8% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | -0.93× | ||
| Q3 25 | 2.24× | 5.96× | ||
| Q2 25 | 1.92× | -6.50× | ||
| Q1 25 | 1.68× | 0.14× | ||
| Q4 24 | 2.27× | 7.71× | ||
| Q3 24 | 1.78× | 17.36× | ||
| Q2 24 | 0.78× | -21.41× |
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% |
HTH
| Noninterest Income | $188.4M | 63% |
| Net Interest Income | $112.1M | 37% |
