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American States Water AWR Unbilled Receivables, Not Billable

Unbilled Receivables, Not Billable at other companies

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Other financials

Income statement

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Revenue$181.3M+11.2%
Gross profit$149.4M+10.5%
Operating income$64.0M+25.5%
Net income$43.3M+28.4%
EPS (diluted)$1.09+25.3%

Balance sheet

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Cash & equivalents$21.7M+7.0%
Total debt$725.3M-9.0%
Total equity$1.1B+15.3%
Total assets$2.8B+6.3%

Cash flow

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Operating cash flow$44.9M-30.4%
CapEx$48.5M-4.7%
Free cash flow$22.6M+200%

Valuation

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Market cap$3.46B+18.0%
Enterprise value$4.17B+12.3%
P/E24.2×+0.7×
P/S+0.2×

Profitability

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Gross margin90.8%0.0pp
Operating margin31.8%+1.0pp
Net margin20.5%+0.3pp
FCF margin-13.9%-1.6pp

Returns & leverage

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Return on equity13.7%-0.2pp
Debt / equity0.6×-0.2×
Current ratio-0.6×

Where this comes from

Reported directly by American States Water in its filing.

Tagged under the XBRL concept us-gaap:UnbilledReceivablesNotBillableAtBalanceSheetDate.

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

Filed
Feb 18, 2026, 4:35 PM EST
Fiscal year
FY2025
Accession
0001628280-26-009114
(in thousands)December 31, 2025December 31, 2024
Contract assets (Note 2)31,42820,130
Total current assets231,074233,346
Other Assets
Unbilled revenue — receivable from U.S. government (Note 2)1,2583,423
Receivable from U.S. government (Note 2)27,66035,486
Contract assets (Note 2)791,518
Operating lease right-of-use assets6,0938,028
Regulatory assets30,07327,101

Item 8. Financial Statements and Supplementary Data

FAQ

What is American States Water's unbilled receivables, not billable?
American States Water (AWR) reported unbilled receivables, not billable of $1.26M in Q4 2025.
How has American States Water's unbilled receivables, not billable changed year-over-year?
American States Water's unbilled receivables, not billable decreased by 63.2% year-over-year, from $3.42M to $1.26M.
What is the long-term trend for American States Water's unbilled receivables, not billable?
Over 5 years (2020 to 2025), American States Water's unbilled receivables, not billable has grown at a -33.9% compound annual growth rate (CAGR), from $9.95M to $1.26M.
What does unbilled receivables, not billable mean?
Represents revenue earned from utility services provided to customers that has not yet been billed because the billing cycle has not concluded. This metric reflects accrued income for services rendered but not yet invoiced as of the reporting date. It is a critical indicator of working capital tied up in the operational billing cycle.

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