American States Water Company (AWR)
Utilities · NYQ · US
Fundamentals
Valuation and ratings
American States Water Company trades at USD87.93, close to the USD75.53 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 68 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 24.8 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About American States Water Company
American States Water Company, through its subsidiaries, engages in the provision of water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity. It provides water service to approximately 265,100 customers; and distributes electricity to approximately 24,900 customers in several San Bernardino County Mountain communities in California. The company also offers water and/or wastewater services at various military installations. American States Water Company was founded in 1929 and is headquartered in San Dimas, California.
AWR passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
11 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$35.81M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$15.64M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$7.99M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$7.91M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$7.79M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is American States Water Company (AWR) undervalued?
Against our discounted cash flow estimate of USD75.53, AWR at USD87.93 is 14% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own AWR?
11 of the institutions we track reported a position in AWR in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is AWR's P/E ratio?
AWR trades at 24.8 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.