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American Water Works AWK Advances for construction

Advances for construction at other companies

AWR
American States WaterAWR
$80.93M+8.6%
AWR
American States WaterAWR
$80.93M+8.6%
BKH
Black HillsBKH
$285M—
BKH
Black HillsBKH
$285M—
EVR
EvergyEVRG
$239M—
EVR
EvergyEVRG
$239M—

Other financials

Income statement

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Revenue$1.2B+5.7%
Operating income$391.0M+5.4%
Net income$196.0M-4.4%
EPS (diluted)$1.00-4.8%

Balance sheet

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Cash & equivalents$171.0M+8.9%
Total debt$14.2B-1.3%
Total equity$11.0B+4.8%
Total assets$35.3B+6.4%

Cash flow

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Operating cash flow$305.0M-7.9%
CapEx$659.0M+20.3%
Free cash flow-$354.0M-63.1%

Valuation

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Market cap$26.79B-3.2%
Enterprise value$40.83B-1.6%
P/E24.3×-1.3×
P/S5.2×-0.5×

Profitability

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Operating margin36.5%-0.1pp
Net margin21.2%-1.1pp
FCF margin-23.1%+14.8pp

Returns & leverage

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Return on equity10.2%-0.2pp
Debt / equity1.3×-0.1×
Current ratio0.4×-0.1×

Where this comes from

Reported directly by American Water Works in its filing.

Tagged under the XBRL concept awk:AdvancesForConstruction.

The source filing: American Water Works’s 10-K, filed February 18, 2026.

Filed
Feb 18, 2026, 4:29 PM EST
Fiscal year
FY2025
Accession
0001410636-26-000034
Line itemDecember 31, 2025December 31, 2024
Other198230
Total current liabilities4,7473,150
Regulatory and other long-term liabilities:
Advances for construction435383
Deferred income taxes and investment tax credits3,1902,881
Regulatory liabilities1,4161,416
Operating lease liabilities7476
Accrued pension expense167217

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is American Water Works's advances for construction?
American Water Works (AWK) reported advances for construction of $435M in Q4 2025.
How has American Water Works's advances for construction changed year-over-year?
American Water Works's advances for construction increased by 13.6% year-over-year, from $383M to $435M.
What is the long-term trend for American Water Works's advances for construction?
Over 4 years (2021 to 2025), American Water Works's advances for construction has grown at a 11.2% compound annual growth rate (CAGR), from $284M to $435M.
What does advances for construction mean?
Advances for construction represent funds received from customers or developers to cover the cost of extending utility infrastructure. These funds are typically held as liabilities until the construction is completed and the assets are placed into service. This is a common mechanism in regulated utilities to fund capital expansion without immediate debt issuance.

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