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CALIFORNIA WATER SERVICE GROUP（CWT）与Essential Utilities, Inc.（WTRG）财务数据对比。点击上方公司名可切换其他公司
Essential Utilities, Inc.的季度营收约是CALIFORNIA WATER SERVICE GROUP的3.3倍（$699.1M vs $210.7M）。Essential Utilities, Inc.净利率更高（19.0% vs 5.4%，领先13.5%）。Essential Utilities, Inc.同比增速更快（15.7% vs -3.3%）。过去两年CALIFORNIA WATER SERVICE GROUP的营收复合增速更高（16.6% vs 6.9%）
加利福尼亚水务集团是美国公共事业企业，主营饮用水及污水处理服务，是美国第三大上市投资者所有水务公司，通过加利福尼亚、夏威夷、新墨西哥、华盛顿等州的子公司，为约200万民众提供服务。集团成立于1997年，作为加州水务的控股主体，推动业务向美国其他各州拓展。
Essential Utilities是美国公共事业企业，业务覆盖伊利诺伊、印第安纳、肯塔基、新泽西、北卡罗来纳、俄亥俄、宾夕法尼亚、得克萨斯、弗吉尼亚共九个州，主营饮用水供应、污水处理基础设施运营及天然气供应服务，作为上市公司（股票代码WTRG），是Aqua America和Peoples Natural Gas的母公司，两家子公司仍保留原有品牌独立运营。
CWT vs WTRG — 直观对比
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $210.7M | $699.1M |
| 净利润 | $11.5M | $132.7M |
| 毛利率 | — | — |
| 营业利润率 | 12.2% | 32.5% |
| 净利率 | 5.4% | 19.0% |
| 营收同比 | -3.3% | 15.7% |
| 净利润同比 | -41.0% | -28.2% |
| 每股收益（稀释后） | $0.19 | $0.46 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
| Q4 25 | $210.7M | $699.1M | ||
| Q3 25 | $314.1M | $477.0M | ||
| Q2 25 | $256.2M | $514.9M | ||
| Q1 25 | $182.7M | $783.6M | ||
| Q4 24 | $217.8M | $604.4M | ||
| Q3 24 | $306.2M | $435.3M | ||
| Q2 24 | $226.7M | $434.4M | ||
| Q1 24 | $154.9M | $612.1M |
| Q4 25 | $11.5M | $132.7M | ||
| Q3 25 | $61.2M | $92.1M | ||
| Q2 25 | $42.2M | $107.8M | ||
| Q1 25 | $13.3M | $283.8M | ||
| Q4 24 | $19.5M | $184.8M | ||
| Q3 24 | $60.7M | $69.4M | ||
| Q2 24 | $40.6M | $75.4M | ||
| Q1 24 | $69.9M | $265.8M |
| Q4 25 | 12.2% | 32.5% | ||
| Q3 25 | 22.5% | 35.6% | ||
| Q2 25 | 20.2% | 36.0% | ||
| Q1 25 | 12.2% | 43.2% | ||
| Q4 24 | 14.8% | 37.5% | ||
| Q3 24 | 21.8% | 35.6% | ||
| Q2 24 | 21.2% | 33.4% | ||
| Q1 24 | 50.3% | 37.7% |
| Q4 25 | 5.4% | 19.0% | ||
| Q3 25 | 19.5% | 19.3% | ||
| Q2 25 | 16.5% | 20.9% | ||
| Q1 25 | 7.3% | 36.2% | ||
| Q4 24 | 8.9% | 30.6% | ||
| Q3 24 | 19.8% | 15.9% | ||
| Q2 24 | 17.9% | 17.4% | ||
| Q1 24 | 45.1% | 43.4% |
| Q4 25 | $0.19 | $0.46 | ||
| Q3 25 | $1.03 | $0.33 | ||
| Q2 25 | $0.71 | $0.38 | ||
| Q1 25 | $0.22 | $1.03 | ||
| Q4 24 | $0.31 | $0.67 | ||
| Q3 24 | $1.03 | $0.25 | ||
| Q2 24 | $0.70 | $0.28 | ||
| Q1 24 | $1.21 | $0.97 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $51.8M | $34.8M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $1.7B | $6.9B |
| 总资产 | $5.7B | $19.5B |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
| Q4 25 | $51.8M | $34.8M | ||
| Q3 25 | $76.0M | $6.4M | ||
| Q2 25 | $50.5M | $25.1M | ||
| Q1 25 | $44.5M | $20.8M | ||
| Q4 24 | $50.1M | $9.2M | ||
| Q3 24 | $59.6M | $8.4M | ||
| Q2 24 | $37.3M | $18.8M | ||
| Q1 24 | $42.8M | $35.2M |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.7B | $6.9B | ||
| Q3 25 | $1.7B | $6.8B | ||
| Q2 25 | $1.7B | $6.7B | ||
| Q1 25 | $1.6B | $6.5B | ||
| Q4 24 | $1.6B | $6.2B | ||
| Q3 24 | $1.6B | $6.2B | ||
| Q2 24 | $1.5B | $6.2B | ||
| Q1 24 | $1.5B | $6.1B |
| Q4 25 | $5.7B | $19.5B | ||
| Q3 25 | $5.5B | $18.9B | ||
| Q2 25 | $5.4B | $18.6B | ||
| Q1 25 | $5.3B | $18.3B | ||
| Q4 24 | $5.2B | $18.0B | ||
| Q3 24 | $5.0B | $17.6B | ||
| Q2 24 | $4.9B | $17.3B | ||
| Q1 24 | $4.8B | $17.1B |
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $47.9M | $206.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 4.17× | 1.55× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $47.9M | $206.1M | ||
| Q3 25 | $167.3M | $232.5M | ||
| Q2 25 | $48.9M | $272.3M | ||
| Q1 25 | $38.4M | $299.5M | ||
| Q4 24 | $68.1M | $147.8M | ||
| Q3 24 | $101.8M | $196.1M | ||
| Q2 24 | $94.4M | $185.7M | ||
| Q1 24 | $26.5M | $240.7M |
| Q4 25 | 4.17× | 1.55× | ||
| Q3 25 | 2.73× | 2.53× | ||
| Q2 25 | 1.16× | 2.53× | ||
| Q1 25 | 2.88× | 1.06× | ||
| Q4 24 | 3.50× | 0.80× | ||
| Q3 24 | 1.68× | 2.83× | ||
| Q2 24 | 2.33× | 2.46× | ||
| Q1 24 | 0.38× | 0.91× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CWT
| Residential | $133.2M | 63% |
| Business | $47.7M | 23% |
| Public Authorities | $13.4M | 6% |
| Industrial | $6.9M | 3% |
| Non Regulated Services | $4.8M | 2% |
| Other Non Regulated Service | $1.2M | 1% |
WTRG
| Natural Gas | $371.7M | 53% |
| Water | $269.4M | 39% |
| Wastewater | $57.2M | 8% |
| Other | $2.7M | 0% |
