vs
Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and Ramaco Resources, Inc. (METC). 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 $121.0M, roughly 1.4× Ramaco Resources, Inc.). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs -11.0%, a 28.5% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs -27.7%). Ramaco Resources, Inc. produced more free cash flow last quarter ($-17.5M vs $-36.0M). Over the past eight quarters, AMERICAN STATES WATER CO's revenue compounded faster (10.2% CAGR vs -22.7%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
Ramaco Resources, Inc. is a U.S.-based mining company focused on high-grade metallurgical coal production. It operates mining assets across the Appalachian region, supplying products to global steel manufacturing and industrial clients, with core operations centered on sustainable low-cost metallurgical coal extraction and distribution.
AWR vs METC — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $121.0M |
| Net Profit | $28.7M | $-13.3M |
| Gross Margin | 88.9% | 15.8% |
| Operating Margin | 27.4% | -12.0% |
| Net Margin | 17.5% | -11.0% |
| Revenue YoY | 14.8% | -27.7% |
| Net Profit YoY | 1.1% | -5468.2% |
| EPS (diluted) | $0.74 | — |
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 | — | ||
| Q3 25 | $182.7M | $121.0M | ||
| Q2 25 | $163.1M | $153.0M | ||
| Q1 25 | $148.0M | $134.7M | ||
| Q4 24 | $143.1M | $170.9M | ||
| Q3 24 | $161.8M | $167.4M | ||
| Q2 24 | $155.3M | $155.3M | ||
| Q1 24 | $135.3M | $172.7M |
| Q4 25 | $28.7M | — | ||
| Q3 25 | $41.2M | $-13.3M | ||
| Q2 25 | $33.7M | $-14.0M | ||
| Q1 25 | $26.8M | $-9.5M | ||
| Q4 24 | $28.4M | $3.9M | ||
| Q3 24 | $35.8M | $-239.0K | ||
| Q2 24 | $31.9M | $5.5M | ||
| Q1 24 | $23.1M | $2.0M |
| Q4 25 | 88.9% | — | ||
| Q3 25 | 91.0% | 15.8% | ||
| Q2 25 | 92.1% | 12.3% | ||
| Q1 25 | 91.3% | 15.2% | ||
| Q4 24 | 92.4% | 20.4% | ||
| Q3 24 | 92.7% | 19.5% | ||
| Q2 24 | 89.6% | 21.0% | ||
| Q1 24 | 88.4% | 19.1% |
| Q4 25 | 27.4% | — | ||
| Q3 25 | 33.8% | -12.0% | ||
| Q2 25 | 31.3% | -9.1% | ||
| Q1 25 | 30.8% | -8.9% | ||
| Q4 24 | 27.0% | 3.7% | ||
| Q3 24 | 34.0% | 1.0% | ||
| Q2 24 | 33.3% | 3.5% | ||
| Q1 24 | 28.8% | 1.9% |
| Q4 25 | 17.5% | — | ||
| Q3 25 | 22.5% | -11.0% | ||
| Q2 25 | 20.7% | -9.1% | ||
| Q1 25 | 18.1% | -7.0% | ||
| Q4 24 | 19.9% | 2.3% | ||
| Q3 24 | 22.1% | -0.1% | ||
| Q2 24 | 20.5% | 3.6% | ||
| Q1 24 | 17.1% | 1.2% |
| Q4 25 | $0.74 | — | ||
| Q3 25 | $1.06 | — | ||
| Q2 25 | $0.87 | — | ||
| Q1 25 | $0.70 | — | ||
| Q4 24 | $0.75 | $0.06 | ||
| Q3 24 | $0.95 | $-0.03 | ||
| Q2 24 | $0.85 | $0.08 | ||
| Q1 24 | $0.62 | $0.00 |
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 | $193.8M |
| Total DebtLower is stronger | $782.7M | $116.3M |
| Stockholders' EquityBook value | $1.0B | $526.9M |
| Total Assets | $2.7B | $849.7M |
| Debt / EquityLower = less leverage | 0.75× | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | — | ||
| Q3 25 | $26.1M | $193.8M | ||
| Q2 25 | $20.2M | $28.1M | ||
| Q1 25 | $21.2M | $43.5M | ||
| Q4 24 | $26.7M | $33.0M | ||
| Q3 24 | $16.5M | $22.9M | ||
| Q2 24 | $3.6M | $27.6M | ||
| Q1 24 | $17.0M | $30.5M |
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | $116.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | $88.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | $526.9M | ||
| Q2 25 | $972.5M | $347.4M | ||
| Q1 25 | $956.4M | $355.2M | ||
| Q4 24 | $920.1M | $362.8M | ||
| Q3 24 | $879.5M | $361.8M | ||
| Q2 24 | $833.5M | $366.1M | ||
| Q1 24 | $800.5M | $372.3M |
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.7B | $849.7M | ||
| Q2 25 | $2.6B | $674.6M | ||
| Q1 25 | $2.5B | $685.7M | ||
| Q4 24 | $2.5B | $674.7M | ||
| Q3 24 | $2.4B | $645.4M | ||
| Q2 24 | $2.3B | $659.2M | ||
| Q1 24 | $2.3B | $674.0M |
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | 0.24× | ||
| 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 | $-1.4M |
| Free Cash FlowOCF − Capex | $-36.0M | $-17.5M |
| FCF MarginFCF / Revenue | -21.9% | -14.5% |
| Capex IntensityCapex / Revenue | 38.8% | 13.3% |
| Cash ConversionOCF / Net Profit | 0.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $-24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | — | ||
| Q3 25 | $92.4M | $-1.4M | ||
| Q2 25 | $64.6M | $-4.3M | ||
| Q1 25 | $45.1M | $26.0M | ||
| Q4 24 | $64.5M | $15.7M | ||
| Q3 24 | $63.7M | $37.4M | ||
| Q2 24 | $24.7M | $34.4M | ||
| Q1 24 | $45.8M | $25.2M |
| Q4 25 | $-36.0M | — | ||
| Q3 25 | $37.7M | $-17.5M | ||
| Q2 25 | $13.7M | $-19.8M | ||
| Q1 25 | $-22.5M | $7.6M | ||
| Q4 24 | $6.0M | $5.1M | ||
| Q3 24 | $-478.0K | $25.6M | ||
| Q2 24 | $-37.0M | $20.3M | ||
| Q1 24 | $-1.7M | $6.5M |
| Q4 25 | -21.9% | — | ||
| Q3 25 | 20.7% | -14.5% | ||
| Q2 25 | 8.4% | -13.0% | ||
| Q1 25 | -15.2% | 5.6% | ||
| Q4 24 | 4.2% | 3.0% | ||
| Q3 24 | -0.3% | 15.3% | ||
| Q2 24 | -23.8% | 13.1% | ||
| Q1 24 | -1.3% | 3.7% |
| Q4 25 | 38.8% | — | ||
| Q3 25 | 29.9% | 13.3% | ||
| Q2 25 | 31.2% | 10.2% | ||
| Q1 25 | 45.6% | 13.7% | ||
| Q4 24 | 40.9% | 6.2% | ||
| Q3 24 | 39.7% | 7.0% | ||
| Q2 24 | 39.8% | 9.1% | ||
| Q1 24 | 35.2% | 10.8% |
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | 4.06× | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 0.78× | 6.21× | ||
| Q1 24 | 1.98× | 12.40× |
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% |
METC
| Export Coal Revenues | $73.0M | 60% |
| Domestic Coal Revenues | $48.0M | 40% |
