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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and CVR PARTNERS, LP (UAN). Click either name above to swap in a different company.
CVR PARTNERS, LP is the larger business by last-quarter revenue ($180.0M vs $164.3M, roughly 1.1× AMERICAN STATES WATER CO). CVR PARTNERS, LP runs the higher net margin — 27.7% vs 17.5%, a 10.2% gap on every dollar of revenue. On growth, CVR PARTNERS, LP posted the faster year-over-year revenue change (26.0% vs 14.8%). Over the past eight quarters, CVR PARTNERS, LP's revenue compounded faster (16.4% 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.
CVR Partners, LP is a leading North American producer of nitrogen-based fertilizer products, primarily urea ammonium nitrate (UAN) and ammonia. It serves agricultural, industrial and commercial markets across the U.S. and Canada, delivering cost-effective, high-quality nutrient solutions for crop production and diverse industrial use cases.
AWR vs UAN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $180.0M |
| Net Profit | $28.7M | $49.9M |
| Gross Margin | 88.9% | 37.5% |
| Operating Margin | 27.4% | 32.0% |
| Net Margin | 17.5% | 27.7% |
| Revenue YoY | 14.8% | 26.0% |
| Net Profit YoY | 1.1% | 84.3% |
| EPS (diluted) | $0.74 | — |
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.
| Q1 26 | — | $180.0M | ||
| Q4 25 | $164.3M | $131.1M | ||
| Q3 25 | $182.7M | $163.5M | ||
| Q2 25 | $163.1M | $168.6M | ||
| Q1 25 | $148.0M | $142.9M | ||
| Q4 24 | $143.1M | $139.6M | ||
| Q3 24 | $161.8M | $125.2M | ||
| Q2 24 | $155.3M | $132.9M |
| Q1 26 | — | $49.9M | ||
| Q4 25 | $28.7M | $-10.3M | ||
| Q3 25 | $41.2M | $43.1M | ||
| Q2 25 | $33.7M | $38.8M | ||
| Q1 25 | $26.8M | $27.1M | ||
| Q4 24 | $28.4M | $18.3M | ||
| Q3 24 | $35.8M | $3.8M | ||
| Q2 24 | $31.9M | $26.2M |
| Q1 26 | — | 37.5% | ||
| Q4 25 | 88.9% | 4.4% | ||
| Q3 25 | 91.0% | 37.0% | ||
| Q2 25 | 92.1% | 32.4% | ||
| Q1 25 | 91.3% | 29.7% | ||
| Q4 24 | 92.4% | 23.8% | ||
| Q3 24 | 92.7% | 14.7% | ||
| Q2 24 | 89.6% | 30.0% |
| Q1 26 | — | 32.0% | ||
| Q4 25 | 27.4% | -2.2% | ||
| Q3 25 | 33.8% | 31.0% | ||
| Q2 25 | 31.3% | 27.5% | ||
| Q1 25 | 30.8% | 24.2% | ||
| Q4 24 | 27.0% | 18.4% | ||
| Q3 24 | 34.0% | 8.8% | ||
| Q2 24 | 33.3% | 25.3% |
| Q1 26 | — | 27.7% | ||
| Q4 25 | 17.5% | -7.8% | ||
| Q3 25 | 22.5% | 26.3% | ||
| Q2 25 | 20.7% | 23.0% | ||
| Q1 25 | 18.1% | 19.0% | ||
| Q4 24 | 19.9% | 13.1% | ||
| Q3 24 | 22.1% | 3.0% | ||
| Q2 24 | 20.5% | 19.7% |
| Q1 26 | — | — | ||
| Q4 25 | $0.74 | $-0.98 | ||
| Q3 25 | $1.06 | $4.08 | ||
| Q2 25 | $0.87 | $3.67 | ||
| Q1 25 | $0.70 | $2.56 | ||
| Q4 24 | $0.75 | $1.73 | ||
| Q3 24 | $0.95 | $0.36 | ||
| Q2 24 | $0.85 | $2.48 |
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 | $128.1M |
| Total DebtLower is stronger | $782.7M | — |
| Stockholders' EquityBook value | $1.0B | — |
| Total Assets | $2.7B | $1.0B |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.1M | ||
| Q4 25 | $18.8M | $69.2M | ||
| Q3 25 | $26.1M | $156.2M | ||
| Q2 25 | $20.2M | $114.4M | ||
| Q1 25 | $21.2M | $121.8M | ||
| Q4 24 | $26.7M | $90.9M | ||
| Q3 24 | $16.5M | $110.5M | ||
| Q2 24 | $3.6M | $47.5M |
| Q1 26 | — | — | ||
| Q4 25 | $782.7M | $569.1M | ||
| Q3 25 | — | $569.1M | ||
| Q2 25 | — | $569.2M | ||
| Q1 25 | — | $569.3M | ||
| Q4 24 | $640.4M | $568.0M | ||
| Q3 24 | — | $547.7M | ||
| Q2 24 | — | $547.6M |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $972.5M | — | ||
| Q1 25 | $956.4M | — | ||
| Q4 24 | $920.1M | — | ||
| Q3 24 | $879.5M | — | ||
| Q2 24 | $833.5M | — |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $2.7B | $969.5M | ||
| Q3 25 | $2.7B | $1.0B | ||
| Q2 25 | $2.6B | $998.0M | ||
| Q1 25 | $2.5B | $1.0B | ||
| Q4 24 | $2.5B | $1.0B | ||
| Q3 24 | $2.4B | $986.6M | ||
| Q2 24 | $2.3B | $959.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | $-36.0M | — |
| FCF MarginFCF / Revenue | -21.9% | — |
| Capex IntensityCapex / Revenue | 38.8% | 7.6% |
| Cash ConversionOCF / Net Profit | 0.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $27.7M | $-21.6M | ||
| Q3 25 | $92.4M | $91.7M | ||
| Q2 25 | $64.6M | $24.1M | ||
| Q1 25 | $45.1M | $55.4M | ||
| Q4 24 | $64.5M | $12.8M | ||
| Q3 24 | $63.7M | $86.7M | ||
| Q2 24 | $24.7M | $8.6M |
| Q1 26 | — | — | ||
| Q4 25 | $-36.0M | $-45.2M | ||
| Q3 25 | $37.7M | $80.1M | ||
| Q2 25 | $13.7M | $18.4M | ||
| Q1 25 | $-22.5M | $45.5M | ||
| Q4 24 | $6.0M | $-5.6M | ||
| Q3 24 | $-478.0K | $82.3M | ||
| Q2 24 | $-37.0M | $2.4M |
| Q1 26 | — | — | ||
| Q4 25 | -21.9% | -34.5% | ||
| Q3 25 | 20.7% | 49.0% | ||
| Q2 25 | 8.4% | 10.9% | ||
| Q1 25 | -15.2% | 31.9% | ||
| Q4 24 | 4.2% | -4.0% | ||
| Q3 24 | -0.3% | 65.7% | ||
| Q2 24 | -23.8% | 1.8% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 38.8% | 18.0% | ||
| Q3 25 | 29.9% | 7.1% | ||
| Q2 25 | 31.2% | 3.4% | ||
| Q1 25 | 45.6% | 6.9% | ||
| Q4 24 | 40.9% | 13.1% | ||
| Q3 24 | 39.7% | 3.6% | ||
| Q2 24 | 39.8% | 4.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | 2.13× | ||
| Q2 25 | 1.92× | 0.62× | ||
| Q1 25 | 1.68× | 2.04× | ||
| Q4 24 | 2.27× | 0.70× | ||
| Q3 24 | 1.78× | 22.78× | ||
| Q2 24 | 0.78× | 0.33× |
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% |
UAN
| Fertilizer sales | $166.1M | 92% |
| Other | $14.0M | 8% |
