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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and TACTILE SYSTEMS TECHNOLOGY INC (TCMD). 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 $103.6M, roughly 1.6× TACTILE SYSTEMS TECHNOLOGY INC). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs 10.3%, a 7.2% gap on every dollar of revenue. On growth, TACTILE SYSTEMS TECHNOLOGY INC posted the faster year-over-year revenue change (21.0% vs 14.8%). TACTILE SYSTEMS TECHNOLOGY INC produced more free cash flow last quarter ($16.8M vs $-36.0M). Over the past eight quarters, TACTILE SYSTEMS TECHNOLOGY INC's revenue compounded faster (30.2% 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.
Dominion Voting Systems Corporation was a North American company that produced and sold electronic voting hardware and software, including voting machines and tabulators, in Canada and the United States.
AWR vs TCMD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $103.6M |
| Net Profit | $28.7M | $10.6M |
| Gross Margin | 88.9% | 78.2% |
| Operating Margin | 27.4% | 18.1% |
| Net Margin | 17.5% | 10.3% |
| Revenue YoY | 14.8% | 21.0% |
| Net Profit YoY | 1.1% | 9.4% |
| EPS (diluted) | $0.74 | $0.45 |
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 | $103.6M | ||
| Q3 25 | $182.7M | $85.8M | ||
| Q2 25 | $163.1M | $78.9M | ||
| Q1 25 | $148.0M | $61.3M | ||
| Q4 24 | $143.1M | $85.6M | ||
| Q3 24 | $161.8M | $73.1M | ||
| Q2 24 | $155.3M | $73.2M | ||
| Q1 24 | $135.3M | $61.1M |
| Q4 25 | $28.7M | $10.6M | ||
| Q3 25 | $41.2M | $8.2M | ||
| Q2 25 | $33.7M | $3.2M | ||
| Q1 25 | $26.8M | $-3.0M | ||
| Q4 24 | $28.4M | $9.7M | ||
| Q3 24 | $35.8M | $5.2M | ||
| Q2 24 | $31.9M | $4.3M | ||
| Q1 24 | $23.1M | $-2.2M |
| Q4 25 | 88.9% | 78.2% | ||
| Q3 25 | 91.0% | 75.8% | ||
| Q2 25 | 92.1% | 74.5% | ||
| Q1 25 | 91.3% | 74.0% | ||
| Q4 24 | 92.4% | 75.2% | ||
| Q3 24 | 92.7% | 75.0% | ||
| Q2 24 | 89.6% | 73.9% | ||
| Q1 24 | 88.4% | 71.1% |
| Q4 25 | 27.4% | 18.1% | ||
| Q3 25 | 33.8% | 12.8% | ||
| Q2 25 | 31.3% | 5.2% | ||
| Q1 25 | 30.8% | -7.4% | ||
| Q4 24 | 27.0% | 14.6% | ||
| Q3 24 | 34.0% | 9.3% | ||
| Q2 24 | 33.3% | 8.0% | ||
| Q1 24 | 28.8% | -4.9% |
| Q4 25 | 17.5% | 10.3% | ||
| Q3 25 | 22.5% | 9.6% | ||
| Q2 25 | 20.7% | 4.1% | ||
| Q1 25 | 18.1% | -4.9% | ||
| Q4 24 | 19.9% | 11.4% | ||
| Q3 24 | 22.1% | 7.1% | ||
| Q2 24 | 20.5% | 5.9% | ||
| Q1 24 | 17.1% | -3.6% |
| Q4 25 | $0.74 | $0.45 | ||
| Q3 25 | $1.06 | $0.36 | ||
| Q2 25 | $0.87 | $0.14 | ||
| Q1 25 | $0.70 | $-0.13 | ||
| Q4 24 | $0.75 | $0.40 | ||
| Q3 24 | $0.95 | $0.21 | ||
| Q2 24 | $0.85 | $0.18 | ||
| Q1 24 | $0.62 | $-0.09 |
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 | $83.4M |
| Total DebtLower is stronger | $782.7M | $0 |
| Stockholders' EquityBook value | $1.0B | $218.9M |
| Total Assets | $2.7B | $273.9M |
| Debt / EquityLower = less leverage | 0.75× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $83.4M | ||
| Q3 25 | $26.1M | $66.0M | ||
| Q2 25 | $20.2M | $81.5M | ||
| Q1 25 | $21.2M | $83.6M | ||
| Q4 24 | $26.7M | $94.4M | ||
| Q3 24 | $16.5M | $82.1M | ||
| Q2 24 | $3.6M | $73.6M | ||
| Q1 24 | $17.0M | $60.7M |
| Q4 25 | $782.7M | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | $27.0M | ||
| Q2 24 | — | $27.8M | ||
| Q1 24 | — | $28.5M |
| Q4 25 | $1.0B | $218.9M | ||
| Q3 25 | $1.0B | $204.9M | ||
| Q2 25 | $972.5M | $194.9M | ||
| Q1 25 | $956.4M | $205.6M | ||
| Q4 24 | $920.1M | $216.6M | ||
| Q3 24 | $879.5M | $207.9M | ||
| Q2 24 | $833.5M | $200.7M | ||
| Q1 24 | $800.5M | $193.5M |
| Q4 25 | $2.7B | $273.9M | ||
| Q3 25 | $2.7B | $259.2M | ||
| Q2 25 | $2.6B | $273.0M | ||
| Q1 25 | $2.5B | $280.2M | ||
| Q4 24 | $2.5B | $297.9M | ||
| Q3 24 | $2.4B | $287.7M | ||
| Q2 24 | $2.3B | $278.8M | ||
| Q1 24 | $2.3B | $272.0M |
| Q4 25 | 0.75× | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.15× |
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 | $17.3M |
| Free Cash FlowOCF − Capex | $-36.0M | $16.8M |
| FCF MarginFCF / Revenue | -21.9% | 16.2% |
| Capex IntensityCapex / Revenue | 38.8% | 0.5% |
| Cash ConversionOCF / Net Profit | 0.96× | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $40.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $17.3M | ||
| Q3 25 | $92.4M | $10.3M | ||
| Q2 25 | $64.6M | $14.8M | ||
| Q1 25 | $45.1M | $417.0K | ||
| Q4 24 | $64.5M | $16.3M | ||
| Q3 24 | $63.7M | $10.3M | ||
| Q2 24 | $24.7M | $13.1M | ||
| Q1 24 | $45.8M | $924.0K |
| Q4 25 | $-36.0M | $16.8M | ||
| Q3 25 | $37.7M | $9.2M | ||
| Q2 25 | $13.7M | $14.4M | ||
| Q1 25 | $-22.5M | $38.0K | ||
| Q4 24 | $6.0M | $15.9M | ||
| Q3 24 | $-478.0K | $9.3M | ||
| Q2 24 | $-37.0M | $12.6M | ||
| Q1 24 | $-1.7M | $442.0K |
| Q4 25 | -21.9% | 16.2% | ||
| Q3 25 | 20.7% | 10.8% | ||
| Q2 25 | 8.4% | 18.2% | ||
| Q1 25 | -15.2% | 0.1% | ||
| Q4 24 | 4.2% | 18.5% | ||
| Q3 24 | -0.3% | 12.7% | ||
| Q2 24 | -23.8% | 17.3% | ||
| Q1 24 | -1.3% | 0.7% |
| Q4 25 | 38.8% | 0.5% | ||
| Q3 25 | 29.9% | 1.3% | ||
| Q2 25 | 31.2% | 0.5% | ||
| Q1 25 | 45.6% | 0.6% | ||
| Q4 24 | 40.9% | 0.5% | ||
| Q3 24 | 39.7% | 1.3% | ||
| Q2 24 | 39.8% | 0.7% | ||
| Q1 24 | 35.2% | 0.8% |
| Q4 25 | 0.96× | 1.63× | ||
| Q3 25 | 2.24× | 1.26× | ||
| Q2 25 | 1.92× | 4.59× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | 1.68× | ||
| Q3 24 | 1.78× | 1.99× | ||
| Q2 24 | 0.78× | 3.06× | ||
| 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% |
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
