Global Water Resources, Inc. GWRS
GWRI is a water resource management company that owns, operates, and manages thirty-nine water, wastewater, and recycled water public utility systems in strategically located communities, principally in metropolitan Phoenix and Tucson, Arizona. We seek to deploy an integrated approach, referred to as "Total Water Management." Total Water Management is a comprehensive approach to water utility management that reduces demand on scarce non-renewable water sources and costly renewable water supplies, in a manner that ensures sustainability and greatly benefits communities both environmentally and economically. This approach employs a series of principles and practices that can be tailored to each community:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $55.8M | $52.7M | $53.0M | $44.7M | $41.9M | $38.6M | $35.5M | $35.5M | $31.2M | $29.8M |
| SG&A | $17.9M | $16.9M | $16.6M | $16.1M | $15.1M | $12.7M | $11.2M | $10.5M | $9.4M | $9.7M |
| Total operating expenses | $48.6M | $43.3M | $40.7M | $36.9M | $34.9M | $31.3M | $28.5M | $26.2M | $23.9M | $24.0M |
| Operating income | $7.2M | $9.4M | $12.3M | $7.8M | $7.0M | $7.3M | $7.0M | $9.3M | $7.3M | $5.8M |
| Interest expense | — | — | — | $4.0M | $5.2M | $5.4M | $5.4M | $5.3M | $5.1M | $11.9M |
| Pre-tax income | $4.0M | $7.9M | $10.9M | $6.4M | $4.8M | $1.9M | $3.4M | $4.9M | $4.0M | -$3.8M |
| Income tax | $1.0M | $2.1M | $2.9M | $934.0K | $1.1M | $771.0K | $1.2M | $1.8M | $601.0K | $1.3M |
| Net income | $3.0M | $5.8M | $8.0M | $5.5M | $3.6M | $1.1M | $2.2M | $3.1M | $4.6M | -$2.5M |
| EPS, basic | 0.11 | 0.24 | 0.33 | 0.24 | 0.16 | 0.05 | 0.10 | 0.15 | 0.23 | -0.13 |
| EPS, diluted | 0.11 | 0.24 | 0.33 | 0.24 | 0.16 | 0.05 | 0.10 | 0.15 | 0.23 | -0.13 |
| Shares, diluted (wtd. avg.) | $27.1M | $24.3M | $24.1M | $23.3M | $22.9M | $22.6M | $21.5M | $20.5M | $19.6M | $19.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.1M | $9.0M | $4.8M | $7.6M | $13.4M | $21.3M | $9.1M | $13.2M | $5.7M | $20.5M |
| Receivables | $3.7M | $3.2M | $3.4M | $2.1M | $2.0M | $2.1M | $1.6M | $1.5M | $1.5M | $1.5M |
| Total current assets | $14.6M | $19.5M | $11.7M | $14.2M | $19.0M | $23.5M | $12.3M | $17.3M | $9.7M | $24.7M |
| Property, plant and equipment | — | — | — | — | — | $238.9M | $233.6M | $227.1M | $213.5M | $200.5M |
| Goodwill | $6.5M | $9.5M | $10.8M | $5.0M | $5.7M | $4.6M | $4.4M | $2.6M | $0 | $0 |
| Other intangibles | $6.1M | $6.1M | $8.8M | $10.1M | $10.3M | $11.2M | $12.6M | $13.0M | $12.8M | $12.8M |
| Total assets | $482.9M | $405.1M | $361.1M | $323.1M | $294.1M | $283.4M | $266.1M | $262.5M | $238.6M | $238.8M |
| Accounts payable | $2.3M | $2.1M | $1.0M | $2.2M | $2.1M | $531.0K | $992.0K | $604.0K | $321.0K | $1.8M |
| Short-term debt | $3.9M | $3.9M | $3.9M | $3.8M | $3.8M | — | — | — | — | — |
| Total current liabilities | $19.2M | $22.3M | $14.2M | $16.2M | $16.9M | $12.4M | $10.1M | $9.6M | $9.0M | $10.9M |
| Long-term debt | $129.8M | $118.5M | $101.3M | $104.9M | $108.7M | $115.0M | $115.0M | $115.1M | $115.1M | $115.0M |
| Total liabilities | — | — | $312.5M | $278.7M | $264.0M | $251.3M | $241.4M | $234.6M | $223.7M | $223.8M |
| Retained earnings | -$961.0K | $0 | $797.0K | $0 | $0 | $0 | $0 | $0 | $376.0K | -$4.2M |
| Total equity | $86.6M | $47.6M | $48.6M | $44.4M | $30.0M | $32.2M | $24.7M | $27.9M | $14.9M | $15.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $20.2M | $21.8M | $25.4M | $23.3M | $20.4M | $14.6M | $11.6M | $11.3M | $11.2M | $1.9M |
| Depreciation and amortisation | $15.0M | $12.7M | $11.4M | $9.9M | $9.5M | $9.0M | $8.4M | $7.5M | $6.9M | $6.3M |
| Stock-based compensation | $861.0K | $1.0M | $1.3M | — | — | — | — | — | — | — |
| Capital expenditure | $67.3M | $32.3M | $22.3M | $34.0M | $18.2M | $9.1M | $11.2M | $4.8M | $20.9M | $8.6M |
| Investing cash flow | -$75.4M | -$32.5M | -$28.6M | -$34.2M | -$20.3M | -$9.4M | -$10.1M | -$13.3M | -$21.0M | -$6.2M |
| Financing cash flow | $50.9M | $17.1M | $406.0K | $5.0M | -$7.9M | $7.1M | -$5.6M | $9.5M | -$5.4M | $13.3M |
| Dividends paid | $8.2M | $7.3M | $7.2M | $6.9M | $6.6M | $6.5M | $6.2M | $5.8M | $5.4M | $5.0M |
| Buybacks | — | — | — | $304.0K | $2.0K | $1.0K | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-014659.
Others in SIC 4941
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|---|---|---|---|---|
| AWK | American Water Works Company, Inc. | $27.96B | 24.7x | 10.1% |
| WTRG | Essential Utilities, Inc. | $11.83B | 7.3x | 10.1% |
| AWR | AMERICAN STATES WATER CO | $3.51B | 26.3x | 8.2% |
| CWT | CALIFORNIA WATER SERVICE GROUP | $3.09B | 23.3x | 6.4% |
| HTO | H2O AMERICA | $2.69B | 22.0x | 9.4% |
| MSEX | MIDDLESEX WATER CO | $1.10B | 24.7x | 1.5% |
| YORW | YORK WATER CO | $552.6M | 24.5x | 3.4% |
| CWCO | Consolidated Water Co. Ltd. | $468.9M | 25.7x | 11.0% |