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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and INSTEEL INDUSTRIES INC (IIIN). 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 $159.9M, roughly 1.0× INSTEEL INDUSTRIES INC). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs 4.7%, a 12.7% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 14.8%). INSTEEL INDUSTRIES INC produced more free cash flow last quarter ($-2.2M vs $-36.0M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% CAGR vs 10.2%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
AWR vs IIIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $159.9M |
| Net Profit | $28.7M | $7.6M |
| Gross Margin | 88.9% | 11.3% |
| Operating Margin | 27.4% | 6.0% |
| Net Margin | 17.5% | 4.7% |
| Revenue YoY | 14.8% | 23.3% |
| Net Profit YoY | 1.1% | 602.4% |
| EPS (diluted) | $0.74 | $0.39 |
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 | $159.9M | ||
| Q3 25 | $182.7M | $177.4M | ||
| Q2 25 | $163.1M | $179.9M | ||
| Q1 25 | $148.0M | $160.7M | ||
| Q4 24 | $143.1M | $129.7M | ||
| Q3 24 | $161.8M | $134.3M | ||
| Q2 24 | $155.3M | $145.8M | ||
| Q1 24 | $135.3M | $127.4M |
| Q4 25 | $28.7M | $7.6M | ||
| Q3 25 | $41.2M | $14.6M | ||
| Q2 25 | $33.7M | $15.2M | ||
| Q1 25 | $26.8M | $10.2M | ||
| Q4 24 | $28.4M | $1.1M | ||
| Q3 24 | $35.8M | $4.7M | ||
| Q2 24 | $31.9M | $6.6M | ||
| Q1 24 | $23.1M | $6.9M |
| Q4 25 | 88.9% | 11.3% | ||
| Q3 25 | 91.0% | 16.1% | ||
| Q2 25 | 92.1% | 17.1% | ||
| Q1 25 | 91.3% | 15.3% | ||
| Q4 24 | 92.4% | 7.3% | ||
| Q3 24 | 92.7% | 9.1% | ||
| Q2 24 | 89.6% | 10.6% | ||
| Q1 24 | 88.4% | 12.3% |
| Q4 25 | 27.4% | 6.0% | ||
| Q3 25 | 33.8% | 10.8% | ||
| Q2 25 | 31.3% | 11.0% | ||
| Q1 25 | 30.8% | 8.3% | ||
| Q4 24 | 27.0% | 1.1% | ||
| Q3 24 | 34.0% | 4.5% | ||
| Q2 24 | 33.3% | 6.0% | ||
| Q1 24 | 28.8% | 7.0% |
| Q4 25 | 17.5% | 4.7% | ||
| Q3 25 | 22.5% | 8.2% | ||
| Q2 25 | 20.7% | 8.4% | ||
| Q1 25 | 18.1% | 6.4% | ||
| Q4 24 | 19.9% | 0.8% | ||
| Q3 24 | 22.1% | 3.5% | ||
| Q2 24 | 20.5% | 4.5% | ||
| Q1 24 | 17.1% | 5.4% |
| Q4 25 | $0.74 | $0.39 | ||
| Q3 25 | $1.06 | $0.74 | ||
| Q2 25 | $0.87 | $0.78 | ||
| Q1 25 | $0.70 | $0.52 | ||
| Q4 24 | $0.75 | $0.06 | ||
| Q3 24 | $0.95 | $0.24 | ||
| Q2 24 | $0.85 | $0.34 | ||
| Q1 24 | $0.62 | $0.35 |
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 | $15.6M |
| Total DebtLower is stronger | $782.7M | — |
| Stockholders' EquityBook value | $1.0B | $358.8M |
| Total Assets | $2.7B | $456.1M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $15.6M | ||
| Q3 25 | $26.1M | $38.6M | ||
| Q2 25 | $20.2M | $53.7M | ||
| Q1 25 | $21.2M | $28.4M | ||
| Q4 24 | $26.7M | $36.0M | ||
| Q3 24 | $16.5M | $111.5M | ||
| Q2 24 | $3.6M | $97.7M | ||
| Q1 24 | $17.0M | $83.9M |
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | $358.8M | ||
| Q3 25 | $1.0B | $371.5M | ||
| Q2 25 | $972.5M | $356.2M | ||
| Q1 25 | $956.4M | $341.4M | ||
| Q4 24 | $920.1M | $331.6M | ||
| Q3 24 | $879.5M | $350.9M | ||
| Q2 24 | $833.5M | $346.0M | ||
| Q1 24 | $800.5M | $340.6M |
| Q4 25 | $2.7B | $456.1M | ||
| Q3 25 | $2.7B | $462.6M | ||
| Q2 25 | $2.6B | $471.9M | ||
| Q1 25 | $2.5B | $421.9M | ||
| Q4 24 | $2.5B | $404.7M | ||
| Q3 24 | $2.4B | $422.6M | ||
| Q2 24 | $2.3B | $414.6M | ||
| Q1 24 | $2.3B | $397.2M |
| 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 | $-701.0K |
| Free Cash FlowOCF − Capex | $-36.0M | $-2.2M |
| FCF MarginFCF / Revenue | -21.9% | -1.4% |
| Capex IntensityCapex / Revenue | 38.8% | 0.9% |
| Cash ConversionOCF / Net Profit | 0.96× | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $-701.0K | ||
| Q3 25 | $92.4M | $-17.0M | ||
| Q2 25 | $64.6M | $28.5M | ||
| Q1 25 | $45.1M | $-3.3M | ||
| Q4 24 | $64.5M | $19.0M | ||
| Q3 24 | $63.7M | $16.2M | ||
| Q2 24 | $24.7M | $18.8M | ||
| Q1 24 | $45.8M | $1.4M |
| Q4 25 | $-36.0M | $-2.2M | ||
| Q3 25 | $37.7M | $-18.7M | ||
| Q2 25 | $13.7M | $26.9M | ||
| Q1 25 | $-22.5M | $-5.5M | ||
| Q4 24 | $6.0M | $16.3M | ||
| Q3 24 | $-478.0K | $14.5M | ||
| Q2 24 | $-37.0M | $15.5M | ||
| Q1 24 | $-1.7M | $-580.0K |
| Q4 25 | -21.9% | -1.4% | ||
| Q3 25 | 20.7% | -10.6% | ||
| Q2 25 | 8.4% | 15.0% | ||
| Q1 25 | -15.2% | -3.5% | ||
| Q4 24 | 4.2% | 12.6% | ||
| Q3 24 | -0.3% | 10.8% | ||
| Q2 24 | -23.8% | 10.7% | ||
| Q1 24 | -1.3% | -0.5% |
| Q4 25 | 38.8% | 0.9% | ||
| Q3 25 | 29.9% | 1.0% | ||
| Q2 25 | 31.2% | 0.9% | ||
| Q1 25 | 45.6% | 1.4% | ||
| Q4 24 | 40.9% | 2.1% | ||
| Q3 24 | 39.7% | 1.3% | ||
| Q2 24 | 39.8% | 2.2% | ||
| Q1 24 | 35.2% | 1.5% |
| Q4 25 | 0.96× | -0.09× | ||
| Q3 25 | 2.24× | -1.17× | ||
| Q2 25 | 1.92× | 1.88× | ||
| Q1 25 | 1.68× | -0.32× | ||
| Q4 24 | 2.27× | 17.56× | ||
| Q3 24 | 1.78× | 3.48× | ||
| Q2 24 | 0.78× | 2.86× | ||
| Q1 24 | 1.98× | 0.20× |
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% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
