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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and Bio-Techne (TECH). Click either name above to swap in a different company.
Bio-Techne is the larger business by last-quarter revenue ($295.9M vs $164.3M, roughly 1.8× AMERICAN STATES WATER CO). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs 12.8%, a 4.6% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs -6.4%). Over the past eight quarters, AMERICAN STATES WATER CO's revenue compounded faster (10.2% CAGR vs 4.2%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
AWR vs TECH — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $295.9M |
| Net Profit | $28.7M | $38.0M |
| Gross Margin | 88.9% | 64.6% |
| Operating Margin | 27.4% | 18.4% |
| Net Margin | 17.5% | 12.8% |
| Revenue YoY | 14.8% | -6.4% |
| Net Profit YoY | 1.1% | 68.3% |
| EPS (diluted) | $0.74 | $0.24 |
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 | $295.9M | ||
| Q3 25 | $182.7M | — | ||
| Q2 25 | $163.1M | $317.0M | ||
| Q1 25 | $148.0M | $316.2M | ||
| Q4 24 | $143.1M | $297.0M | ||
| Q3 24 | $161.8M | $289.5M | ||
| Q2 24 | $155.3M | $306.1M | ||
| Q1 24 | $135.3M | $303.4M |
| Q4 25 | $28.7M | $38.0M | ||
| Q3 25 | $41.2M | — | ||
| Q2 25 | $33.7M | $-17.7M | ||
| Q1 25 | $26.8M | $22.6M | ||
| Q4 24 | $28.4M | $34.9M | ||
| Q3 24 | $35.8M | $33.6M | ||
| Q2 24 | $31.9M | $40.6M | ||
| Q1 24 | $23.1M | $49.1M |
| Q4 25 | 88.9% | 64.6% | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 92.1% | 62.7% | ||
| Q1 25 | 91.3% | 67.9% | ||
| Q4 24 | 92.4% | 65.3% | ||
| Q3 24 | 92.7% | 63.2% | ||
| Q2 24 | 89.6% | 66.4% | ||
| Q1 24 | 88.4% | 67.4% |
| Q4 25 | 27.4% | 18.4% | ||
| Q3 25 | 33.8% | — | ||
| Q2 25 | 31.3% | -7.5% | ||
| Q1 25 | 30.8% | 12.2% | ||
| Q4 24 | 27.0% | 16.0% | ||
| Q3 24 | 34.0% | 13.8% | ||
| Q2 24 | 33.3% | 15.0% | ||
| Q1 24 | 28.8% | 22.1% |
| Q4 25 | 17.5% | 12.8% | ||
| Q3 25 | 22.5% | — | ||
| Q2 25 | 20.7% | -5.6% | ||
| Q1 25 | 18.1% | 7.1% | ||
| Q4 24 | 19.9% | 11.7% | ||
| Q3 24 | 22.1% | 11.6% | ||
| Q2 24 | 20.5% | 13.3% | ||
| Q1 24 | 17.1% | 16.2% |
| Q4 25 | $0.74 | $0.24 | ||
| Q3 25 | $1.06 | — | ||
| Q2 25 | $0.87 | $-0.11 | ||
| Q1 25 | $0.70 | $0.14 | ||
| Q4 24 | $0.75 | $0.22 | ||
| Q3 24 | $0.95 | $0.21 | ||
| Q2 24 | $0.85 | $0.26 | ||
| Q1 24 | $0.62 | $0.31 |
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 | $172.9M |
| Total DebtLower is stronger | $782.7M | $260.0M |
| Stockholders' EquityBook value | $1.0B | $2.0B |
| Total Assets | $2.7B | $2.5B |
| Debt / EquityLower = less leverage | 0.75× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $172.9M | ||
| Q3 25 | $26.1M | — | ||
| Q2 25 | $20.2M | $162.2M | ||
| Q1 25 | $21.2M | $140.7M | ||
| Q4 24 | $26.7M | $177.5M | ||
| Q3 24 | $16.5M | $187.5M | ||
| Q2 24 | $3.6M | $152.9M | ||
| Q1 24 | $17.0M | $145.3M |
| Q4 25 | $782.7M | $260.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $346.0M | ||
| Q1 25 | — | $330.0M | ||
| Q4 24 | $640.4M | $300.0M | ||
| Q3 24 | — | $300.0M | ||
| Q2 24 | — | $319.0M | ||
| Q1 24 | — | $389.0M |
| Q4 25 | $1.0B | $2.0B | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $972.5M | $1.9B | ||
| Q1 25 | $956.4M | $2.0B | ||
| Q4 24 | $920.1M | $2.1B | ||
| Q3 24 | $879.5M | $2.1B | ||
| Q2 24 | $833.5M | $2.1B | ||
| Q1 24 | $800.5M | $2.0B |
| Q4 25 | $2.7B | $2.5B | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.6B | $2.6B | ||
| Q1 25 | $2.5B | $2.6B | ||
| Q4 24 | $2.5B | $2.7B | ||
| Q3 24 | $2.4B | $2.7B | ||
| Q2 24 | $2.3B | $2.7B | ||
| Q1 24 | $2.3B | $2.7B |
| Q4 25 | 0.75× | 0.13× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | 0.70× | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.19× |
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 | — |
| Free Cash FlowOCF − Capex | $-36.0M | — |
| FCF MarginFCF / Revenue | -21.9% | — |
| Capex IntensityCapex / Revenue | 38.8% | — |
| Cash ConversionOCF / Net Profit | 0.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | — | ||
| Q3 25 | $92.4M | — | ||
| Q2 25 | $64.6M | $98.2M | ||
| Q1 25 | $45.1M | $41.1M | ||
| Q4 24 | $64.5M | $84.3M | ||
| Q3 24 | $63.7M | $63.9M | ||
| Q2 24 | $24.7M | $75.5M | ||
| Q1 24 | $45.8M | $81.0M |
| Q4 25 | $-36.0M | — | ||
| Q3 25 | $37.7M | — | ||
| Q2 25 | $13.7M | $93.3M | ||
| Q1 25 | $-22.5M | $31.0M | ||
| Q4 24 | $6.0M | $77.5M | ||
| Q3 24 | $-478.0K | $54.7M | ||
| Q2 24 | $-37.0M | $57.5M | ||
| Q1 24 | $-1.7M | $64.5M |
| Q4 25 | -21.9% | — | ||
| Q3 25 | 20.7% | — | ||
| Q2 25 | 8.4% | 29.4% | ||
| Q1 25 | -15.2% | 9.8% | ||
| Q4 24 | 4.2% | 26.1% | ||
| Q3 24 | -0.3% | 18.9% | ||
| Q2 24 | -23.8% | 18.8% | ||
| Q1 24 | -1.3% | 21.3% |
| Q4 25 | 38.8% | — | ||
| Q3 25 | 29.9% | — | ||
| Q2 25 | 31.2% | 1.5% | ||
| Q1 25 | 45.6% | 3.2% | ||
| Q4 24 | 40.9% | 2.3% | ||
| Q3 24 | 39.7% | 3.2% | ||
| Q2 24 | 39.8% | 5.9% | ||
| Q1 24 | 35.2% | 5.4% |
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 1.68× | 1.82× | ||
| Q4 24 | 2.27× | 2.42× | ||
| Q3 24 | 1.78× | 1.90× | ||
| Q2 24 | 0.78× | 1.86× | ||
| Q1 24 | 1.98× | 1.65× |
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% |
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
