vs
Side-by-side financial comparison of H2O AMERICA (HTO) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $120.6M, roughly 1.7× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs 8.1%, a 40.0% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -11.0%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -6.0%).
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.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
HTO vs KW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $120.6M |
| Net Profit | $16.2M | $58.0M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | 57.3% |
| Net Margin | 8.1% | 48.1% |
| Revenue YoY | 1.5% | -11.0% |
| Net Profit YoY | -29.2% | 32.7% |
| EPS (diluted) | $0.45 | $0.22 |
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 | $120.6M | ||
| Q3 25 | $243.5M | $116.4M | ||
| Q2 25 | $197.8M | $135.7M | ||
| Q1 25 | $164.9M | $128.3M | ||
| Q4 24 | $196.5M | $135.5M | ||
| Q3 24 | $216.7M | $127.5M | ||
| Q2 24 | $173.1M | $132.0M | ||
| Q1 24 | $150.0M | $136.4M |
| Q4 25 | $16.2M | $58.0M | ||
| Q3 25 | $45.1M | $-10.2M | ||
| Q2 25 | $24.7M | $5.6M | ||
| Q1 25 | $16.6M | $-29.6M | ||
| Q4 24 | $22.9M | $43.7M | ||
| Q3 24 | $38.7M | $-66.8M | ||
| Q2 24 | $20.7M | $-48.3M | ||
| Q1 24 | $11.7M | $37.7M |
| Q4 25 | 16.6% | 57.3% | ||
| Q3 25 | 26.5% | -6.2% | ||
| Q2 25 | 22.2% | 7.4% | ||
| Q1 25 | 21.8% | -26.9% | ||
| Q4 24 | 22.2% | 36.7% | ||
| Q3 24 | 26.9% | -60.8% | ||
| Q2 24 | 23.4% | -45.5% | ||
| Q1 24 | 18.6% | 47.2% |
| Q4 25 | 8.1% | 48.1% | ||
| Q3 25 | 18.5% | -8.8% | ||
| Q2 25 | 12.5% | 4.1% | ||
| Q1 25 | 10.0% | -23.1% | ||
| Q4 24 | 11.7% | 32.3% | ||
| Q3 24 | 17.8% | -52.4% | ||
| Q2 24 | 12.0% | -36.6% | ||
| Q1 24 | 7.8% | 27.6% |
| Q4 25 | $0.45 | $0.22 | ||
| Q3 25 | $1.27 | $-0.15 | ||
| Q2 25 | $0.71 | $-0.05 | ||
| Q1 25 | $0.49 | $-0.30 | ||
| Q4 24 | $0.70 | $0.24 | ||
| Q3 24 | $1.17 | $-0.56 | ||
| Q2 24 | $0.64 | $-0.43 | ||
| Q1 24 | $0.36 | $0.19 |
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 | $184.5M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $1.5B |
| Total Assets | $5.1B | $6.6B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $184.5M | ||
| Q3 25 | $11.3M | $382.6M | ||
| Q2 25 | $19.8M | $309.1M | ||
| Q1 25 | $23.7M | $356.6M | ||
| Q4 24 | $11.1M | $217.5M | ||
| Q3 24 | $4.0M | $367.1M | ||
| Q2 24 | $22.8M | $366.5M | ||
| Q1 24 | $4.5M | $541.9M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.6B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $1.3B | $1.7B | ||
| Q1 24 | $1.2B | $1.7B |
| Q4 25 | $5.1B | $6.6B | ||
| Q3 25 | $5.0B | $6.7B | ||
| Q2 25 | $4.8B | $6.8B | ||
| Q1 25 | $4.7B | $7.2B | ||
| Q4 24 | $4.7B | $7.0B | ||
| Q3 24 | $4.6B | $7.4B | ||
| Q2 24 | $4.4B | $7.5B | ||
| Q1 24 | $4.4B | $7.7B |
| 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 | $11.4M |
| Free Cash FlowOCF − Capex | — | $-55.2M |
| FCF MarginFCF / Revenue | — | -45.8% |
| Capex IntensityCapex / Revenue | — | 55.2% |
| Cash ConversionOCF / Net Profit | 3.92× | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $11.4M | ||
| Q3 25 | $77.3M | $-7.6M | ||
| Q2 25 | $60.8M | $42.0M | ||
| Q1 25 | $43.2M | $-51.9M | ||
| Q4 24 | $41.5M | $55.1M | ||
| Q3 24 | $53.5M | $-5.6M | ||
| Q2 24 | $49.3M | $36.7M | ||
| Q1 24 | $51.2M | $-5.6M |
| Q4 25 | — | $-55.2M | ||
| Q3 25 | — | $-18.0M | ||
| Q2 25 | — | $29.4M | ||
| Q1 25 | — | $-59.7M | ||
| Q4 24 | — | $-76.5M | ||
| Q3 24 | — | $-27.7M | ||
| Q2 24 | — | $-500.0K | ||
| Q1 24 | — | $-57.1M |
| Q4 25 | — | -45.8% | ||
| Q3 25 | — | -15.5% | ||
| Q2 25 | — | 21.7% | ||
| Q1 25 | — | -46.5% | ||
| Q4 24 | — | -56.5% | ||
| Q3 24 | — | -21.7% | ||
| Q2 24 | — | -0.4% | ||
| Q1 24 | — | -41.9% |
| Q4 25 | — | 55.2% | ||
| Q3 25 | — | 8.9% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 97.1% | ||
| Q3 24 | — | 17.3% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | — | 37.8% |
| Q4 25 | 3.92× | 0.20× | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | 7.50× | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | 1.26× | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | — | ||
| Q1 24 | 4.38× | -0.15× |
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% |
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
