Question 1

What is American States Water's P/FCF ratio?

Accepted Answer

American States Water (AWR) P/FCF ratio is 89.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for American States Water?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For American States Water specifically, the relevant sector benchmark is the current sector median of 45.4×.

Question 5

Is American States Water's P/FCF ratio high or low?

Accepted Answer

American States Water's P/FCF ratio of 89.8× is above its own 5-year average of 79.4× and above the sector median of 45.4×. That places the current reading at the 97th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is American States Water's historical P/FCF ratio range?

Accepted Answer

In the available daily series, American States Water (AWR) P/FCF ratio has ranged from a low of 12.7× in 2014 to a high of 1524.8× in 2009. The 5-year average is 79.4× and the 5-year median is 79.4×.

Question 7

What was American States Water's P/FCF ratio in 2018?

Accepted Answer

American States Water (AWR) P/FCF ratio at the end of 2018 was 241.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does American States Water's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$2.79B	-$7.09M	—	—	Dec 31, 2025
2024	$2.95B	-$33.2M	—	—	Dec 31, 2024
2023	$2.97B	-$121M	—	—	Dec 31, 2023
2022	$3.42B	-$48.4M	—	—	Dec 31, 2022
2021	$3.82B	-$28.9M	—	—	Dec 31, 2021
2020	$2.93B	-$8.25M	—	—	Dec 31, 2020
2019	$3.19B	-$35.1M	—	—	Dec 31, 2019
2018	$2.46B	$10.2M	241.2×	+173.6×	Dec 31, 2018
2017	$2.13B	$31.4M	67.7×	—	Dec 31, 2017
2016	$1.67B	-$32.9M	—	—	Dec 31, 2016
2015	$1.54B	$7.82M	196.3×	+180.4×	Dec 31, 2015
2014	$1.45B	$90.7M	15.9×	-13.1×	Dec 31, 2014
2013	$1.11B	$38.3M	29.0×	+1.4×	Dec 31, 2013
2012	$922M	$33.4M	27.6×	—	Dec 31, 2012
2011	$657M	-$114K	—	—	Dec 31, 2011
2010	$643M	-$25.3M	—	—	Dec 31, 2010
2009	$657M	-$4.87M	—	—	Dec 31, 2009
2008	$571M	-$9.99M	—	—	Dec 31, 2008
2007	$650M	$1.16M	562.4×	—	Dec 31, 2007
2006	$659M	-$15M	—	—	Dec 31, 2006
2005	$518M	-$16.6M	—	—	Dec 31, 2005
2004	$436M	-$33.9M	—	—	Dec 31, 2004
2003	$381M	-$10.5M	—	—	Dec 31, 2003
2002	$351M	-$14.9M	—	—	Dec 31, 2002


Eversource Energy (ES)	110.1×
Constellation Energy (CEG)	86.9×
NextEra Energy (NEE)	82.1×
Middlesex Water (MSEX)	63.1×
Vistra (VST)	45.4×
UGI (UGI)	32.9×
FirstEnergy (FE)	16.3×
Duke Energy (DUK)	15.4×
Consolidated Edison (ED)	14.6×
American Electric Power Company (AEP)	9.3×

P/FCF Ratio for American States Water (AWR) 2007-2026

P/FCF Ratio daily chart for American States Water (AWR)

Historical P/FCF Ratio for American States Water (AWR) from 2002 to 2025

About P/FCF Ratio at American States Water (AWR)

American States Water P/FCF Ratio by Year

American States Water P/FCF Ratio 2018: 241.2×

American States Water P/FCF Ratio 2017: 67.7×

American States Water P/FCF Ratio 2015: 196.3×

American States Water P/FCF Ratio 2014: 15.9×

American States Water P/FCF Ratio 2013: 29.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

American States Water (AWR) Key Financials