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American Water Works Business Segments

Business, geographic, and product segment breakdowns

American Water Works generates $5.2B in annual revenue across 3 key segments: Miscellaneous utility charges ($50.0M), Wastewater Services ($433.0M), and Water Services ($4.3B). The company-wide operating margin is 36.48%. Based on the Q1 2026 filing.

Miscellaneous utility charges (TTM)$50.0MWastewater Services (TTM)$433.0MWater Services (TTM)$4.3B
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$24.3B
P/E Ratio22.05
ROE10.22%

Products & Services

Operating revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Water Services$973M$929M$1.1B$1.2B$1B$988M
Wastewater Services$93M$101M$107M$113M$106M$107M
Miscellaneous utility charges$9M$11M$14M$13M$11M$12M

Other Revenues Not from Contracts with Customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Miscellaneous utility charges$0$0$0$0$0$0
Wastewater Services$1M$0$0$0$0$0
Water Services$4M$0$0$0$0$0

Revenues from Contracts with Customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Water Services$969M$929M$1.1B$1.2B$1B$988M
Wastewater Services$92M$101M$107M$113M$106M$107M
Miscellaneous utility charges$9M$11M$14M$13M$11M$12M

Geographic

General rate case authorizations, annualized incremental revenues, including reduction for the amortization of the excess accumulated deferred income taxes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia—————$20M
California, Attrition Increase$5.3M$17M———$14M
Maryland—————$2M

General rate case authorizations, annualized incremental revenues, requested rate, increase in capital investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New Jersey—————$1.4B
Illinois—————$577M
Maryland———$22M—$22M

Proposed return on equity, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Illinois—————10.8%
New Jersey—————10.8%

Total infrastructure surcharge authorizations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pennsylvania—$1.3M$1.3M$1.3M$1.3M$18M
Indiana—————$15M
Missouri—$17M———$13M
Illinois—————$5M
West Virginia—$4M———$2M

General rate case authorizations, annualized incremental revenues, approved amount, increase in capital investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia—————$239M
Kentucky————$212M—

Public utilities, common non-equity ratio percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kentucky————47.7%—

Authorized return on equity, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia—————9.8%
Maryland—————9.8%

Common equity, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New Jersey—————55.2%
Maryland———52.3%—52.3%

Debt ratio, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia—————49.0%
Maryland—————47.7%
New Jersey—————44.8%

General rate case authorizations, annualized incremental revenues, approved amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia—————$20M
Maryland—————$2M

Infrastructure surcharge, annualized incremental revenues, requested amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Missouri—$63M—$13M—$18M

Aggregate costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Monterey$281M$290M$300M$310M$324M$336M

Allowance for funds used during construction

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Monterey$88M$92M$97M$102M$107M$112M

General rate case authorizations, annualized incremental revenues, requested rate increase, amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New Jersey—————$146M

Common equity, adjustment, percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia—————51.0%

General rate case authorizations, annualized incremental revenues, previously approved infrastructure filings amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia——$13M——$13M

Public utilities, authorized rate base not included in general rate case order, amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
West Virginia—————$1.1B

Business Segments

Number of acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Business0.251.501.501.501.50—

Number of states in which entity provides water and wastewater services

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Business14.00———14.00—

Alternative revenue programs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$15M$6M$4M-$4M$1M$2M

Cash paid for capital expenditures

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$884M$545M$733M$792M$1B$657M

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$203M$213M$217M$224M$229M$234M

Interest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$110M$114M$116M$122M$122M$126M

Interest Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$3M$1M$1M$1M$2M$1M

Lease contract revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$2M$2M$1M$1M$3M$2M

Net income attributable to common shareholders

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$250M$201M$288M$383M$265M$208M

Operating revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$1.1B$1B$1.2B$1.3B$1.2B$1.1B

Operation and maintenance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$408M$395M$406M$433M$408M$417M

Other Revenues Not from Contracts with Customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$22M$8M$5M-$3M$4M$4M

Other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$55M$67M$68M$70M$66M$66M

Provision for income taxes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$69M$60M$84M$112M$65M$61M

Revenues from Contracts with Customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$1.1B$1B$1.2B$1.3B$1.1B$1.1B

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated Businesses$29.9B$30.3B$31B$31.9B$32.6B$33.2B