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Side-by-side financial comparison of H2O AMERICA (HTO) and PAMT CORP (PAMT). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $141.3M, roughly 1.4× PAMT CORP). H2O AMERICA runs the higher net margin — 8.1% vs -20.7%, a 28.8% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -15.1%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -12.0%).
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.
HTO vs PAMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $141.3M |
| Net Profit | $16.2M | $-29.3M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | -27.0% |
| Net Margin | 8.1% | -20.7% |
| Revenue YoY | 1.5% | -15.1% |
| Net Profit YoY | -29.2% | 7.4% |
| EPS (diluted) | $0.45 | $-1.38 |
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 | $141.3M | ||
| Q3 25 | $243.5M | $150.3M | ||
| Q2 25 | $197.8M | $151.1M | ||
| Q1 25 | $164.9M | $155.3M | ||
| Q4 24 | $196.5M | $166.5M | ||
| Q3 24 | $216.7M | $182.6M | ||
| Q2 24 | $173.1M | $182.9M | ||
| Q1 24 | $150.0M | $182.6M |
| Q4 25 | $16.2M | $-29.3M | ||
| Q3 25 | $45.1M | $-5.6M | ||
| Q2 25 | $24.7M | $-9.6M | ||
| Q1 25 | $16.6M | $-8.1M | ||
| Q4 24 | $22.9M | $-31.6M | ||
| Q3 24 | $38.7M | $2.4M | ||
| Q2 24 | $20.7M | $-2.9M | ||
| Q1 24 | $11.7M | $281.0K |
| Q4 25 | 16.6% | -27.0% | ||
| Q3 25 | 26.5% | -3.8% | ||
| Q2 25 | 22.2% | -7.3% | ||
| Q1 25 | 21.8% | -5.9% | ||
| Q4 24 | 22.2% | -22.6% | ||
| Q3 24 | 26.9% | 1.3% | ||
| Q2 24 | 23.4% | -0.4% | ||
| Q1 24 | 18.6% | -0.4% |
| Q4 25 | 8.1% | -20.7% | ||
| Q3 25 | 18.5% | -3.7% | ||
| Q2 25 | 12.5% | -6.4% | ||
| Q1 25 | 10.0% | -5.2% | ||
| Q4 24 | 11.7% | -19.0% | ||
| Q3 24 | 17.8% | 1.3% | ||
| Q2 24 | 12.0% | -1.6% | ||
| Q1 24 | 7.8% | 0.2% |
| Q4 25 | $0.45 | $-1.38 | ||
| Q3 25 | $1.27 | $-0.27 | ||
| Q2 25 | $0.71 | $-0.46 | ||
| Q1 25 | $0.49 | $-0.37 | ||
| Q4 24 | $0.70 | $-1.44 | ||
| Q3 24 | $1.17 | $0.11 | ||
| Q2 24 | $0.64 | $-0.13 | ||
| Q1 24 | $0.36 | $0.01 |
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 | $83.7M |
| Total DebtLower is stronger | $1.9B | $333.9M |
| Stockholders' EquityBook value | $1.5B | $210.5M |
| Total Assets | $5.1B | $697.9M |
| Debt / EquityLower = less leverage | 1.23× | 1.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $83.7M | ||
| Q3 25 | $11.3M | $115.6M | ||
| Q2 25 | $19.8M | $117.3M | ||
| Q1 25 | $23.7M | $102.7M | ||
| Q4 24 | $11.1M | $110.7M | ||
| Q3 24 | $4.0M | $92.3M | ||
| Q2 24 | $22.8M | $114.0M | ||
| Q1 24 | $4.5M | $125.8M |
| Q4 25 | $1.9B | $333.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | $325.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $210.5M | ||
| Q3 25 | $1.5B | $239.5M | ||
| Q2 25 | $1.5B | $244.9M | ||
| Q1 25 | $1.4B | $269.6M | ||
| Q4 24 | $1.4B | $277.5M | ||
| Q3 24 | $1.3B | $308.9M | ||
| Q2 24 | $1.3B | $306.7M | ||
| Q1 24 | $1.2B | $314.6M |
| Q4 25 | $5.1B | $697.9M | ||
| Q3 25 | $5.0B | $715.2M | ||
| Q2 25 | $4.8B | $707.9M | ||
| Q1 25 | $4.7B | $712.6M | ||
| Q4 24 | $4.7B | $741.7M | ||
| Q3 24 | $4.6B | $756.7M | ||
| Q2 24 | $4.4B | $733.5M | ||
| Q1 24 | $4.4B | $746.4M |
| Q4 25 | 1.23× | 1.59× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | 1.17× | ||
| 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 | $-5.8M |
| Free Cash FlowOCF − Capex | — | $-25.0M |
| FCF MarginFCF / Revenue | — | -17.7% |
| Capex IntensityCapex / Revenue | — | 13.6% |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-23.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $-5.8M | ||
| Q3 25 | $77.3M | $5.9M | ||
| Q2 25 | $60.8M | $12.2M | ||
| Q1 25 | $43.2M | $5.0M | ||
| Q4 24 | $41.5M | $15.2M | ||
| Q3 24 | $53.5M | $15.5M | ||
| Q2 24 | $49.3M | $18.7M | ||
| Q1 24 | $51.2M | $9.6M |
| Q4 25 | — | $-25.0M | ||
| Q3 25 | — | $2.5M | ||
| Q2 25 | — | $5.9M | ||
| Q1 25 | — | $-6.8M | ||
| Q4 24 | — | $-39.9M | ||
| Q3 24 | — | $-33.6M | ||
| Q2 24 | — | $4.1M | ||
| Q1 24 | — | $-12.2M |
| Q4 25 | — | -17.7% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | -4.4% | ||
| Q4 24 | — | -24.0% | ||
| Q3 24 | — | -18.4% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | — | 13.6% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | 7.6% | ||
| Q4 24 | — | 33.1% | ||
| Q3 24 | — | 26.9% | ||
| Q2 24 | — | 8.0% | ||
| Q1 24 | — | 12.0% |
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | 6.44× | ||
| Q2 24 | 2.38× | — | ||
| Q1 24 | 4.38× | 34.11× |
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% |
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
