American Water Works
American Water is the largest and most geographically diverse publicly traded water and wastewater utility in the United States. The company provides essential drinking water and wastewater services to millions of people across multiple states, primarily through regulated utility subsidiaries. Its core value proposition centers on the ownership and operation of critical infrastructure, long-term capital investment for system resiliency, and maintaining high standards of water quality and safety.
Financials
Based on Q1 2026 filing
Revenue
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Regulated Businesses
primaryThe primary revenue driver of the company, consisting of utilities that provide water and wastewater services to residential, commercial, and industrial customers. These operations are subject to economic regulation by state public utility commissions regarding rates and service standards.
Drinking Water Service, Wastewater Collection and Treatment, Fire Service Water Supply
Residential, Commercial, Industrial, Public Authorities, Other Utilities
Other
minorIncludes non-regulated businesses that provide water and wastewater services to the U.S. government on military installations and municipal contract operations. These businesses generally do not require significant capital investment from the company and operate under long-term service contracts.
Military Services Group (MSG) Operations, Municipal Operation and Management (O&M) Contracts
U.S. Government, Municipalities
Segment Financials
Regulated Businesses — Revenues from Contracts with Customers
View metricRegulated Business — Number of states in which entity provides water and wastewater services
View metricRegulated Businesses — Alternative revenue programs
View metricRegulated Businesses — Operation and maintenance
View metricWater Services — Other Revenues Not from Contracts with Customers
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Competitive Position
The company is the leading investor-owned water utility in the U.S. by population served and revenue, benefiting from high barriers to entry and regulated monopolies in its service territories.
Geographies
United States
Customer Segments
Residential, Commercial, Industrial, Governmental
Upstream Dependencies
Surface water sources (reservoirs, lakes, rivers), Groundwater sources (wells, aquifers), Third-party water suppliers, Chemical suppliers (chlorine, activated carbon), Infrastructure equipment manufacturers
Downstream Customers
Residential households, Commercial businesses, Industrial manufacturing plants, Public fire services, Military installations
Competitors & Partners
Competitors
Partners
Monterey One Water
Partner in the groundwater replenishment project for the Water Supply Project in California
Monterey Peninsula Water Management District
Partner in the GWR Project and regional water management
Subsidiaries
Essential Utilities
WTRG
Target of a pending merger agreement to become a wholly owned subsidiary
American Water Works Service Company, Inc.
Wholly owned subsidiary providing support and operational services to affiliates
California American Water (Cal Am)
Regulated utility subsidiary operating in California
American Water Works FAQ
Common questions about American Water Works
American Water is the largest and most geographically diverse publicly traded water and wastewater utility in the United States. The company provides essential drinking water and wastewater services to millions of people across multiple states, primarily through regulated utility subsidiaries. Its core value proposition centers on the ownership and operation of critical infrastructure, long-term capital investment for system resiliency, and maintaining high standards of water quality and safety.
American Water Works (AWK) has a market capitalization of $24.4B and trades on NYSE.
American Water Works generated $5.2B in trailing twelve-month revenue with net income of $1.1B, representing a net margin of 21.2%, with free cash flow of -$1.2B. These figures are based on the Q1 2026 filing.
American Water Works's key competitors include Essential Utilities, Inc., Algonquin Power & Utilities Corp., American States Water Company, and others. These companies compete in similar markets and product categories.
American Water Works has approximately 6,500 employees.