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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $164.3M, roughly 1.5× AMERICAN STATES WATER CO). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 14.8%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $-36.0M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% 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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
AWR vs PLMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $253.4M |
| Net Profit | $28.7M | — |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | 28.7% |
| Net Margin | 17.5% | — |
| Revenue YoY | 14.8% | 62.7% |
| Net Profit YoY | 1.1% | — |
| EPS (diluted) | $0.74 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $182.7M | $244.7M | ||
| Q2 25 | $163.1M | $203.3M | ||
| Q1 25 | $148.0M | $174.6M | ||
| Q4 24 | $143.1M | $155.8M | ||
| Q3 24 | $161.8M | $148.5M | ||
| Q2 24 | $155.3M | $131.1M | ||
| Q1 24 | $135.3M | $118.5M |
| Q4 25 | $28.7M | — | ||
| Q3 25 | $41.2M | $51.5M | ||
| Q2 25 | $33.7M | $46.5M | ||
| Q1 25 | $26.8M | $42.9M | ||
| Q4 24 | $28.4M | — | ||
| Q3 24 | $35.8M | $30.5M | ||
| Q2 24 | $31.9M | $25.7M | ||
| Q1 24 | $23.1M | $26.4M |
| 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% | 28.7% | ||
| Q3 25 | 33.8% | 27.4% | ||
| Q2 25 | 31.3% | 29.5% | ||
| Q1 25 | 30.8% | 30.8% | ||
| Q4 24 | 27.0% | 28.9% | ||
| Q3 24 | 34.0% | 25.9% | ||
| Q2 24 | 33.3% | 25.5% | ||
| Q1 24 | 28.8% | 29.0% |
| Q4 25 | 17.5% | — | ||
| Q3 25 | 22.5% | 21.0% | ||
| Q2 25 | 20.7% | 22.9% | ||
| Q1 25 | 18.1% | 24.6% | ||
| Q4 24 | 19.9% | — | ||
| Q3 24 | 22.1% | 20.5% | ||
| Q2 24 | 20.5% | 19.6% | ||
| Q1 24 | 17.1% | 22.3% |
| Q4 25 | $0.74 | $2.05 | ||
| Q3 25 | $1.06 | $1.87 | ||
| Q2 25 | $0.87 | $1.68 | ||
| Q1 25 | $0.70 | $1.57 | ||
| Q4 24 | $0.75 | $1.29 | ||
| Q3 24 | $0.95 | $1.15 | ||
| Q2 24 | $0.85 | $1.00 | ||
| Q1 24 | $0.62 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | $782.7M | — |
| Stockholders' EquityBook value | $1.0B | $942.7M |
| Total Assets | $2.7B | $3.1B |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $106.9M | ||
| Q3 25 | $26.1M | $111.7M | ||
| Q2 25 | $20.2M | $81.3M | ||
| Q1 25 | $21.2M | $119.3M | ||
| Q4 24 | $26.7M | $80.4M | ||
| Q3 24 | $16.5M | $86.5M | ||
| Q2 24 | $3.6M | $47.8M | ||
| Q1 24 | $17.0M | $61.4M |
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | $942.7M | ||
| Q3 25 | $1.0B | $878.1M | ||
| Q2 25 | $972.5M | $847.2M | ||
| Q1 25 | $956.4M | $790.4M | ||
| Q4 24 | $920.1M | $729.0M | ||
| Q3 24 | $879.5M | $703.3M | ||
| Q2 24 | $833.5M | $532.6M | ||
| Q1 24 | $800.5M | $501.7M |
| Q4 25 | $2.7B | $3.1B | ||
| Q3 25 | $2.7B | $2.9B | ||
| Q2 25 | $2.6B | $2.8B | ||
| Q1 25 | $2.5B | $2.4B | ||
| Q4 24 | $2.5B | $2.3B | ||
| Q3 24 | $2.4B | $2.3B | ||
| Q2 24 | $2.3B | $2.0B | ||
| Q1 24 | $2.3B | $1.9B |
| 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 | $409.1M |
| Free Cash FlowOCF − Capex | $-36.0M | $409.0M |
| FCF MarginFCF / Revenue | -21.9% | 161.4% |
| Capex IntensityCapex / Revenue | 38.8% | 0.1% |
| Cash ConversionOCF / Net Profit | 0.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $409.1M | ||
| Q3 25 | $92.4M | $83.6M | ||
| Q2 25 | $64.6M | $120.9M | ||
| Q1 25 | $45.1M | $87.2M | ||
| Q4 24 | $64.5M | $261.2M | ||
| Q3 24 | $63.7M | $100.3M | ||
| Q2 24 | $24.7M | $55.1M | ||
| Q1 24 | $45.8M | $33.1M |
| Q4 25 | $-36.0M | $409.0M | ||
| Q3 25 | $37.7M | $83.6M | ||
| Q2 25 | $13.7M | $120.8M | ||
| Q1 25 | $-22.5M | $87.1M | ||
| Q4 24 | $6.0M | $260.9M | ||
| Q3 24 | $-478.0K | $100.1M | ||
| Q2 24 | $-37.0M | — | ||
| Q1 24 | $-1.7M | — |
| Q4 25 | -21.9% | 161.4% | ||
| Q3 25 | 20.7% | 34.2% | ||
| Q2 25 | 8.4% | 59.4% | ||
| Q1 25 | -15.2% | 49.9% | ||
| Q4 24 | 4.2% | 167.5% | ||
| Q3 24 | -0.3% | 67.4% | ||
| Q2 24 | -23.8% | — | ||
| Q1 24 | -1.3% | — |
| Q4 25 | 38.8% | 0.1% | ||
| Q3 25 | 29.9% | 0.0% | ||
| Q2 25 | 31.2% | 0.0% | ||
| Q1 25 | 45.6% | 0.0% | ||
| Q4 24 | 40.9% | 0.2% | ||
| Q3 24 | 39.7% | 0.1% | ||
| Q2 24 | 39.8% | 0.0% | ||
| Q1 24 | 35.2% | 0.0% |
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | 1.63× | ||
| Q2 25 | 1.92× | 2.60× | ||
| Q1 25 | 1.68× | 2.03× | ||
| Q4 24 | 2.27× | — | ||
| Q3 24 | 1.78× | 3.29× | ||
| Q2 24 | 0.78× | 2.14× | ||
| Q1 24 | 1.98× | 1.26× |
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% |
PLMR
Segment breakdown not available.
