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Side-by-side financial comparison of H2O AMERICA (HTO) and JBG SMITH Properties (JBGS). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $127.6M, roughly 1.6× JBG SMITH Properties). H2O AMERICA runs the higher net margin — 8.1% vs -35.7%, a 43.8% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -2.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -6.3%).
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.
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
HTO vs JBGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $127.6M |
| Net Profit | $16.2M | $-45.5M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | -47.5% |
| Net Margin | 8.1% | -35.7% |
| Revenue YoY | 1.5% | -2.5% |
| Net Profit YoY | -29.2% | 24.0% |
| EPS (diluted) | $0.45 | $-0.76 |
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 | $199.4M | $127.6M | ||
| Q3 25 | $243.5M | $123.9M | ||
| Q2 25 | $197.8M | $126.5M | ||
| Q1 25 | $164.9M | $120.7M | ||
| Q4 24 | $196.5M | $130.8M | ||
| Q3 24 | $216.7M | $136.0M | ||
| Q2 24 | $173.1M | $135.3M | ||
| Q1 24 | $150.0M | $145.2M |
| Q4 25 | $16.2M | $-45.5M | ||
| Q3 25 | $45.1M | $-28.6M | ||
| Q2 25 | $24.7M | $-19.2M | ||
| Q1 25 | $16.6M | $-45.7M | ||
| Q4 24 | $22.9M | $-59.9M | ||
| Q3 24 | $38.7M | $-27.0M | ||
| Q2 24 | $20.7M | $-24.4M | ||
| Q1 24 | $11.7M | $-32.3M |
| Q4 25 | 16.6% | -47.5% | ||
| Q3 25 | 26.5% | -27.5% | ||
| Q2 25 | 22.2% | -18.4% | ||
| Q1 25 | 21.8% | -44.7% | ||
| Q4 24 | 22.2% | -53.6% | ||
| Q3 24 | 26.9% | -22.4% | ||
| Q2 24 | 23.4% | -24.3% | ||
| Q1 24 | 18.6% | -30.1% |
| Q4 25 | 8.1% | -35.7% | ||
| Q3 25 | 18.5% | -23.1% | ||
| Q2 25 | 12.5% | -15.2% | ||
| Q1 25 | 10.0% | -37.9% | ||
| Q4 24 | 11.7% | -45.8% | ||
| Q3 24 | 17.8% | -19.8% | ||
| Q2 24 | 12.0% | -18.0% | ||
| Q1 24 | 7.8% | -22.2% |
| Q4 25 | $0.45 | $-0.76 | ||
| Q3 25 | $1.27 | $-0.48 | ||
| Q2 25 | $0.71 | $-0.29 | ||
| Q1 25 | $0.49 | $-0.56 | ||
| Q4 24 | $0.70 | $-0.70 | ||
| Q3 24 | $1.17 | $-0.32 | ||
| Q2 24 | $0.64 | $-0.27 | ||
| Q1 24 | $0.36 | $-0.36 |
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 | $75.3M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $1.2B |
| Total Assets | $5.1B | $4.4B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $75.3M | ||
| Q3 25 | $11.3M | $64.4M | ||
| Q2 25 | $19.8M | $61.4M | ||
| Q1 25 | $23.7M | $81.3M | ||
| Q4 24 | $11.1M | $145.8M | ||
| Q3 24 | $4.0M | $137.0M | ||
| Q2 24 | $22.8M | $163.5M | ||
| Q1 24 | $4.5M | $220.5M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.4B | $1.8B | ||
| Q3 24 | $1.3B | $1.9B | ||
| Q2 24 | $1.3B | $2.0B | ||
| Q1 24 | $1.2B | $2.1B |
| Q4 25 | $5.1B | $4.4B | ||
| Q3 25 | $5.0B | $4.4B | ||
| Q2 25 | $4.8B | $4.5B | ||
| Q1 25 | $4.7B | $4.7B | ||
| Q4 24 | $4.7B | $5.0B | ||
| Q3 24 | $4.6B | $5.2B | ||
| Q2 24 | $4.4B | $5.3B | ||
| Q1 24 | $4.4B | $5.4B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| 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 | $63.5M | $73.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $73.3M | ||
| Q3 25 | $77.3M | $8.9M | ||
| Q2 25 | $60.8M | $18.8M | ||
| Q1 25 | $43.2M | $12.9M | ||
| Q4 24 | $41.5M | $129.4M | ||
| Q3 24 | $53.5M | $26.4M | ||
| Q2 24 | $49.3M | $23.8M | ||
| Q1 24 | $51.2M | $37.0M |
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | — | ||
| Q1 24 | 4.38× | — |
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% |
JBGS
Segment breakdown not available.
