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Side-by-side financial comparison of H2O AMERICA (HTO) and IDEX Corporation (IEX). Click either name above to swap in a different company.
IDEX Corporation is the larger business by last-quarter revenue ($398.4M vs $199.4M, roughly 2.0× H2O AMERICA). IDEX Corporation runs the higher net margin — 30.1% vs 8.1%, a 22.0% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (16.7% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -29.4%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
HTO vs IEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $398.4M |
| Net Profit | $16.2M | $120.0M |
| Gross Margin | — | 99.9% |
| Operating Margin | 16.6% | 43.3% |
| Net Margin | 8.1% | 30.1% |
| Revenue YoY | 1.5% | 16.7% |
| Net Profit YoY | -29.2% | 25.7% |
| EPS (diluted) | $0.45 | $1.61 |
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.
| Q2 26 | — | $398.4M | ||
| Q1 26 | — | $407.7M | ||
| Q4 25 | $199.4M | $899.1M | ||
| Q3 25 | $243.5M | $878.7M | ||
| Q2 25 | $197.8M | $865.4M | ||
| Q1 25 | $164.9M | $814.3M | ||
| Q4 24 | $196.5M | $862.9M | ||
| Q3 24 | $216.7M | $798.2M |
| Q2 26 | — | $120.0M | ||
| Q1 26 | — | $128.3M | ||
| Q4 25 | $16.2M | $128.3M | ||
| Q3 25 | $45.1M | $127.8M | ||
| Q2 25 | $24.7M | $131.6M | ||
| Q1 25 | $16.6M | $95.5M | ||
| Q4 24 | $22.9M | $123.2M | ||
| Q3 24 | $38.7M | $119.1M |
| Q2 26 | — | 99.9% | ||
| Q1 26 | — | 94.9% | ||
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 44.5% | ||
| Q2 25 | — | 45.3% | ||
| Q1 25 | — | 45.3% | ||
| Q4 24 | — | 42.5% | ||
| Q3 24 | — | 44.3% |
| Q2 26 | — | 43.3% | ||
| Q1 26 | — | 45.0% | ||
| Q4 25 | 16.6% | 20.4% | ||
| Q3 25 | 26.5% | 21.1% | ||
| Q2 25 | 22.2% | 21.7% | ||
| Q1 25 | 21.8% | 17.4% | ||
| Q4 24 | 22.2% | 19.2% | ||
| Q3 24 | 26.9% | 21.0% |
| Q2 26 | — | 30.1% | ||
| Q1 26 | — | 31.5% | ||
| Q4 25 | 8.1% | 14.3% | ||
| Q3 25 | 18.5% | 14.5% | ||
| Q2 25 | 12.5% | 15.2% | ||
| Q1 25 | 10.0% | 11.7% | ||
| Q4 24 | 11.7% | 14.3% | ||
| Q3 24 | 17.8% | 14.9% |
| Q2 26 | — | $1.61 | ||
| Q1 26 | — | $1.71 | ||
| Q4 25 | $0.45 | $1.71 | ||
| Q3 25 | $1.27 | $1.70 | ||
| Q2 25 | $0.71 | $1.74 | ||
| Q1 25 | $0.49 | $1.26 | ||
| Q4 24 | $0.70 | $1.61 | ||
| Q3 24 | $1.17 | $1.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $586.2M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $4.0B |
| Total Assets | $5.1B | $6.9B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | $586.2M | ||
| Q1 26 | — | $580.0M | ||
| Q4 25 | $20.7M | $580.0M | ||
| Q3 25 | $11.3M | $593.8M | ||
| Q2 25 | $19.8M | $568.2M | ||
| Q1 25 | $23.7M | $594.1M | ||
| Q4 24 | $11.1M | $620.8M | ||
| Q3 24 | $4.0M | $633.2M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $1.8B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $1.7B | $2.0B | ||
| Q3 24 | — | $2.1B |
| Q2 26 | — | $4.0B | ||
| Q1 26 | — | $4.0B | ||
| Q4 25 | $1.5B | $4.0B | ||
| Q3 25 | $1.5B | $4.0B | ||
| Q2 25 | $1.5B | $4.0B | ||
| Q1 25 | $1.4B | $3.9B | ||
| Q4 24 | $1.4B | $3.8B | ||
| Q3 24 | $1.3B | $3.8B |
| Q2 26 | — | $6.9B | ||
| Q1 26 | — | $6.9B | ||
| Q4 25 | $5.1B | $6.9B | ||
| Q3 25 | $5.0B | $7.0B | ||
| Q2 25 | $4.8B | $6.9B | ||
| Q1 25 | $4.7B | $6.8B | ||
| Q4 24 | $4.7B | $6.7B | ||
| Q3 24 | $4.6B | $7.0B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 0.45× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | 1.26× | 0.52× | ||
| Q3 24 | — | 0.55× |
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 | $63.5M | — |
| Free Cash FlowOCF − Capex | — | $86.0M |
| FCF MarginFCF / Revenue | — | 21.6% |
| Capex IntensityCapex / Revenue | — | 4.4% |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $654.3M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $63.5M | $209.5M | ||
| Q3 25 | $77.3M | $203.5M | ||
| Q2 25 | $60.8M | $161.7M | ||
| Q1 25 | $43.2M | $105.7M | ||
| Q4 24 | $41.5M | $172.6M | ||
| Q3 24 | $53.5M | $205.3M |
| Q2 26 | — | $86.0M | ||
| Q1 26 | — | $189.8M | ||
| Q4 25 | — | $189.8M | ||
| Q3 25 | — | $188.7M | ||
| Q2 25 | — | $146.9M | ||
| Q1 25 | — | $91.4M | ||
| Q4 24 | — | $157.1M | ||
| Q3 24 | — | $191.6M |
| Q2 26 | — | 21.6% | ||
| Q1 26 | — | 46.6% | ||
| Q4 25 | — | 21.1% | ||
| Q3 25 | — | 21.5% | ||
| Q2 25 | — | 17.0% | ||
| Q1 25 | — | 11.2% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | — | 24.0% |
| Q2 26 | — | 4.4% | ||
| Q1 26 | — | 15.6% | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.7% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 3.92× | 1.63× | ||
| Q3 25 | 1.71× | 1.59× | ||
| Q2 25 | 2.47× | 1.23× | ||
| Q1 25 | 2.61× | 1.11× | ||
| Q4 24 | 1.81× | 1.40× | ||
| Q3 24 | 1.39× | 1.72× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
IEX
Segment breakdown not available.
