vs
Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and PennyMac Mortgage Investment Trust (PMT). 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 $93.6M, roughly 1.8× PennyMac Mortgage Investment Trust). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs 17.5%, a 38.5% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs -13.3%). Over the past eight quarters, PennyMac Mortgage Investment Trust's revenue compounded faster (12.3% 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.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
AWR vs PMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $93.6M |
| Net Profit | $28.7M | $52.4M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | 38.6% |
| Net Margin | 17.5% | 56.0% |
| Revenue YoY | 14.8% | -13.3% |
| Net Profit YoY | 1.1% | 12.5% |
| EPS (diluted) | $0.74 | $0.49 |
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 | $93.6M | ||
| Q3 25 | $182.7M | $99.2M | ||
| Q2 25 | $163.1M | $70.2M | ||
| Q1 25 | $148.0M | $44.5M | ||
| Q4 24 | $143.1M | $107.9M | ||
| Q3 24 | $161.8M | $80.9M | ||
| Q2 24 | $155.3M | $71.2M | ||
| Q1 24 | $135.3M | $74.2M |
| Q4 25 | $28.7M | $52.4M | ||
| Q3 25 | $41.2M | $58.3M | ||
| Q2 25 | $33.7M | $7.5M | ||
| Q1 25 | $26.8M | $9.7M | ||
| Q4 24 | $28.4M | $46.5M | ||
| Q3 24 | $35.8M | $41.4M | ||
| Q2 24 | $31.9M | $25.4M | ||
| Q1 24 | $23.1M | $47.6M |
| 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% | 38.6% | ||
| Q3 25 | 33.8% | 47.4% | ||
| Q2 25 | 31.3% | 24.2% | ||
| Q1 25 | 30.8% | -14.2% | ||
| Q4 24 | 27.0% | 51.1% | ||
| Q3 24 | 34.0% | 32.8% | ||
| Q2 24 | 33.3% | 40.2% | ||
| Q1 24 | 28.8% | 43.6% |
| Q4 25 | 17.5% | 56.0% | ||
| Q3 25 | 22.5% | 58.7% | ||
| Q2 25 | 20.7% | 10.7% | ||
| Q1 25 | 18.1% | 21.8% | ||
| Q4 24 | 19.9% | 43.1% | ||
| Q3 24 | 22.1% | 51.2% | ||
| Q2 24 | 20.5% | 35.7% | ||
| Q1 24 | 17.1% | 64.2% |
| Q4 25 | $0.74 | $0.49 | ||
| Q3 25 | $1.06 | $0.55 | ||
| Q2 25 | $0.87 | $-0.04 | ||
| Q1 25 | $0.70 | $-0.01 | ||
| Q4 24 | $0.75 | $0.45 | ||
| Q3 24 | $0.95 | $0.36 | ||
| Q2 24 | $0.85 | $0.17 | ||
| Q1 24 | $0.62 | $0.39 |
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 | $190.5M |
| Total DebtLower is stronger | $782.7M | $1.1B |
| Stockholders' EquityBook value | $1.0B | $1.9B |
| Total Assets | $2.7B | $21.3B |
| Debt / EquityLower = less leverage | 0.75× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $190.5M | ||
| Q3 25 | $26.1M | $181.0M | ||
| Q2 25 | $20.2M | $108.6M | ||
| Q1 25 | $21.2M | $204.2M | ||
| Q4 24 | $26.7M | $103.2M | ||
| Q3 24 | $16.5M | $102.8M | ||
| Q2 24 | $3.6M | $336.3M | ||
| Q1 24 | $17.0M | $343.3M |
| Q4 25 | $782.7M | $1.1B | ||
| Q3 25 | — | $299.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.4M | ||
| Q4 24 | $640.4M | $1.0B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | $1.0B | $1.9B | ||
| Q3 25 | $1.0B | $1.9B | ||
| Q2 25 | $972.5M | $1.9B | ||
| Q1 25 | $956.4M | $1.9B | ||
| Q4 24 | $920.1M | $1.9B | ||
| Q3 24 | $879.5M | $1.9B | ||
| Q2 24 | $833.5M | $1.9B | ||
| Q1 24 | $800.5M | $2.0B |
| Q4 25 | $2.7B | $21.3B | ||
| Q3 25 | $2.7B | $18.5B | ||
| Q2 25 | $2.6B | $16.8B | ||
| Q1 25 | $2.5B | $14.9B | ||
| Q4 24 | $2.5B | $14.4B | ||
| Q3 24 | $2.4B | $13.1B | ||
| Q2 24 | $2.3B | $12.1B | ||
| Q1 24 | $2.3B | $12.3B |
| Q4 25 | 0.75× | 0.58× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | 0.70× | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | $-7.2B |
| Free Cash FlowOCF − Capex | $-36.0M | — |
| FCF MarginFCF / Revenue | -21.9% | — |
| Capex IntensityCapex / Revenue | 38.8% | — |
| Cash ConversionOCF / Net Profit | 0.96× | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $-7.2B | ||
| Q3 25 | $92.4M | $-1.3B | ||
| Q2 25 | $64.6M | $-2.0B | ||
| Q1 25 | $45.1M | $-594.3M | ||
| Q4 24 | $64.5M | $-2.7B | ||
| Q3 24 | $63.7M | $-983.8M | ||
| Q2 24 | $24.7M | $243.8M | ||
| Q1 24 | $45.8M | $-342.4M |
| Q4 25 | $-36.0M | — | ||
| Q3 25 | $37.7M | — | ||
| Q2 25 | $13.7M | — | ||
| Q1 25 | $-22.5M | — | ||
| Q4 24 | $6.0M | — | ||
| Q3 24 | $-478.0K | — | ||
| Q2 24 | $-37.0M | — | ||
| Q1 24 | $-1.7M | — |
| Q4 25 | -21.9% | — | ||
| Q3 25 | 20.7% | — | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | -15.2% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | -0.3% | — | ||
| Q2 24 | -23.8% | — | ||
| Q1 24 | -1.3% | — |
| Q4 25 | 38.8% | — | ||
| Q3 25 | 29.9% | — | ||
| Q2 25 | 31.2% | — | ||
| Q1 25 | 45.6% | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 39.7% | — | ||
| Q2 24 | 39.8% | — | ||
| Q1 24 | 35.2% | — |
| Q4 25 | 0.96× | -137.76× | ||
| Q3 25 | 2.24× | -22.26× | ||
| Q2 25 | 1.92× | -267.53× | ||
| Q1 25 | 1.68× | -61.39× | ||
| Q4 24 | 2.27× | -58.08× | ||
| Q3 24 | 1.78× | -23.76× | ||
| Q2 24 | 0.78× | 9.59× | ||
| Q1 24 | 1.98× | -7.19× |
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% |
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
