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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
Perella Weinberg Partners is the larger business by last-quarter revenue ($219.2M vs $164.3M, roughly 1.3× AMERICAN STATES WATER CO). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs 6.3%, a 11.2% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs -2.9%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $-36.0M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% 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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
AWR vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $219.2M |
| Net Profit | $28.7M | $13.8M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | 8.5% |
| Net Margin | 17.5% | 6.3% |
| Revenue YoY | 14.8% | -2.9% |
| Net Profit YoY | 1.1% | — |
| EPS (diluted) | $0.74 | $0.11 |
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 | $219.2M | ||
| Q3 25 | $182.7M | $164.6M | ||
| Q2 25 | $163.1M | $155.3M | ||
| Q1 25 | $148.0M | $211.8M | ||
| Q4 24 | $143.1M | $225.7M | ||
| Q3 24 | $161.8M | $278.2M | ||
| Q2 24 | $155.3M | $272.0M | ||
| Q1 24 | $135.3M | $102.1M |
| Q4 25 | $28.7M | $13.8M | ||
| Q3 25 | $41.2M | $6.0M | ||
| Q2 25 | $33.7M | $2.7M | ||
| Q1 25 | $26.8M | $17.3M | ||
| Q4 24 | $28.4M | — | ||
| Q3 24 | $35.8M | $16.4M | ||
| Q2 24 | $31.9M | $-66.0M | ||
| Q1 24 | $23.1M | $-35.8M |
| 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% | 8.5% | ||
| Q3 25 | 33.8% | 5.4% | ||
| Q2 25 | 31.3% | 5.8% | ||
| Q1 25 | 30.8% | 5.5% | ||
| Q4 24 | 27.0% | — | ||
| Q3 24 | 34.0% | 12.9% | ||
| Q2 24 | 33.3% | -30.2% | ||
| Q1 24 | 28.8% | -52.4% |
| Q4 25 | 17.5% | 6.3% | ||
| Q3 25 | 22.5% | 3.6% | ||
| Q2 25 | 20.7% | 1.8% | ||
| Q1 25 | 18.1% | 8.2% | ||
| Q4 24 | 19.9% | — | ||
| Q3 24 | 22.1% | 5.9% | ||
| Q2 24 | 20.5% | -24.3% | ||
| Q1 24 | 17.1% | -35.1% |
| Q4 25 | $0.74 | $0.11 | ||
| Q3 25 | $1.06 | $0.08 | ||
| Q2 25 | $0.87 | $0.04 | ||
| Q1 25 | $0.70 | $0.24 | ||
| Q4 24 | $0.75 | — | ||
| Q3 24 | $0.95 | $0.24 | ||
| Q2 24 | $0.85 | $-1.21 | ||
| Q1 24 | $0.62 | $-0.91 |
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 | $255.9M |
| Total DebtLower is stronger | $782.7M | — |
| Stockholders' EquityBook value | $1.0B | $-127.4M |
| Total Assets | $2.7B | $797.6M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $255.9M | ||
| Q3 25 | $26.1M | $185.5M | ||
| Q2 25 | $20.2M | $145.0M | ||
| Q1 25 | $21.2M | $111.2M | ||
| Q4 24 | $26.7M | $407.4M | ||
| Q3 24 | $16.5M | $335.1M | ||
| Q2 24 | $3.6M | $185.3M | ||
| Q1 24 | $17.0M | $156.7M |
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | $-127.4M | ||
| Q3 25 | $1.0B | $-302.4M | ||
| Q2 25 | $972.5M | $-318.4M | ||
| Q1 25 | $956.4M | $-323.1M | ||
| Q4 24 | $920.1M | $-421.4M | ||
| Q3 24 | $879.5M | $-360.8M | ||
| Q2 24 | $833.5M | $-283.0M | ||
| Q1 24 | $800.5M | $161.9M |
| Q4 25 | $2.7B | $797.6M | ||
| Q3 25 | $2.7B | $650.2M | ||
| Q2 25 | $2.6B | $606.7M | ||
| Q1 25 | $2.5B | $570.5M | ||
| Q4 24 | $2.5B | $876.8M | ||
| Q3 24 | $2.4B | $810.9M | ||
| Q2 24 | $2.3B | $645.5M | ||
| Q1 24 | $2.3B | $583.6M |
| 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 | $34.8M |
| Free Cash FlowOCF − Capex | $-36.0M | $30.5M |
| FCF MarginFCF / Revenue | -21.9% | 13.9% |
| Capex IntensityCapex / Revenue | 38.8% | 2.0% |
| Cash ConversionOCF / Net Profit | 0.96× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $34.8M | ||
| Q3 25 | $92.4M | $59.2M | ||
| Q2 25 | $64.6M | $56.1M | ||
| Q1 25 | $45.1M | $-176.5M | ||
| Q4 24 | $64.5M | $223.4M | ||
| Q3 24 | $63.7M | $200.3M | ||
| Q2 24 | $24.7M | $90.0M | ||
| Q1 24 | $45.8M | $-206.3M |
| Q4 25 | $-36.0M | $30.5M | ||
| Q3 25 | $37.7M | $57.6M | ||
| Q2 25 | $13.7M | $55.3M | ||
| Q1 25 | $-22.5M | $-177.6M | ||
| Q4 24 | $6.0M | $207.0M | ||
| Q3 24 | $-478.0K | $199.3M | ||
| Q2 24 | $-37.0M | $83.7M | ||
| Q1 24 | $-1.7M | $-214.8M |
| Q4 25 | -21.9% | 13.9% | ||
| Q3 25 | 20.7% | 35.0% | ||
| Q2 25 | 8.4% | 35.6% | ||
| Q1 25 | -15.2% | -83.8% | ||
| Q4 24 | 4.2% | 91.7% | ||
| Q3 24 | -0.3% | 71.6% | ||
| Q2 24 | -23.8% | 30.8% | ||
| Q1 24 | -1.3% | -210.3% |
| Q4 25 | 38.8% | 2.0% | ||
| Q3 25 | 29.9% | 0.9% | ||
| Q2 25 | 31.2% | 0.5% | ||
| Q1 25 | 45.6% | 0.5% | ||
| Q4 24 | 40.9% | 7.3% | ||
| Q3 24 | 39.7% | 0.4% | ||
| Q2 24 | 39.8% | 2.3% | ||
| Q1 24 | 35.2% | 8.3% |
| Q4 25 | 0.96× | 2.52× | ||
| Q3 25 | 2.24× | 9.85× | ||
| Q2 25 | 1.92× | 20.50× | ||
| Q1 25 | 1.68× | -10.18× | ||
| Q4 24 | 2.27× | — | ||
| Q3 24 | 1.78× | 12.23× | ||
| Q2 24 | 0.78× | — | ||
| Q1 24 | 1.98× | — |
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% |
PWP
Segment breakdown not available.
