H2O America (HTO) Fair Value & Analysis
Utilities · US · Market cap $2.6B · ISIN US7843051043
What is H2O America really worth?
H2O America
HTO · US
Below-average quality, and trading another 155% above our fair value of $25.29.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 16 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from $41.30 to $25.29 (−38.8%) since Jul 14, 2026. Share price +3.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($43.31). The favourable scenario is already priced in.
- Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range ($17.44 to $43.31) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range $43.27 – $75.71 · fair‑value band $17.44 – $43.31 · the $64.56 price screens above the $25.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
H2O America (HTO) currently trades at $64.56, while our model-based Fair Value estimate is $25.29, implying the stock looks roughly 155.3% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of $41.30 per share, and 0 of the 14 models we run sit above the $64.56 price. Bear case: the Earnings-Based group reads lowest at $18.85, and 14 of the 14 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, H2O America generated revenue of $816M at a net margin of 12.9%. Revenue grew 9.4% year over year. It earns a return on equity of 6.5%. Net debt stands at $2.0B. Fundamentals as of Aug 13, 2026
Our scenario range runs from $17.44 (bear case) to $43.31 (bull case); at $64.56, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 50% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at 12% fair-value upside, at −61%, HTO screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.8289 per share, which is 3.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: Growth Earnings ($41.30) versus Earnings-Based ($18.85). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 30 · Market factors (momentum, volatility) 77
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
H2O America, through its subsidiaries, provides water utility and other related services in the United States. The company engages in production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, …
Full company description
H2O America, through its subsidiaries, provides water utility and other related services in the United States. The company engages in production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from Valley Water District. It also offers non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services, sewer operations, and other water related services; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine. In addition, the company provides water services; owns undeveloped land in California; and commercial properties and parcels of land in Connecticut. The company was formerly known as SJW Group and changed its name to H2O America in May 2025. H2O America was incorporated in 1985 and is headquartered in San Jose, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
H2O America reported revenue of $801M in FY2025 versus $574M in FY2021, a compound +8.7%/yr. Reported net income was $103M in FY2025, compounding +14.1%/yr from FY2021.
of which total revenue +9.7 % · buybacks/dilution −5.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
HTO screens 155% overvalued. Compare with American Water Works Company →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- H2O America Receives Regulatory Approval for Texas Subsidiary’s Acquisition of Quadvest
- OKLO, HTO draw highest short interest in utilities sector; PCG and WTRG see lowest short interest
- Hellenic Telecommunications Organization (ATSE:HTO) Stock Gets Fair Value Bump After Analyst Revisions
- H2O America Q2 Earnings Call Highlights
Peer Group
Utilities - Regulated Water · 64 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Regulated Water median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 78/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| American Water Works Company AWK | $138.30 | $65.80 | −52% |
| SBS SBS | $4.82 | $8.13 | +69% |
| Essential Utilities, Inc WTRG | $41.10 | $21.81 | −47% |
| Guangdong Investment Limited 0270 | HK$8.15 | HK$12.82 | +57% |
| Grandblue Environment Co 600323 | ¥29.61 | ¥33.29 | +12% |
| American States Water Company AWR | $89.88 | $47.94 | −47% |
| Chengdu Xingrong Environment Co 000598 | ¥7.35 | ¥9.09 | +24% |
| California Water Service Group CWT | $50.48 | $33.56 | −34% |
| Chongqing Water Group 601158 | ¥4.14 | ¥2.77 | −33% |
| Beijing Enterprises Water Group 0371 | HK$1.74 | HK$3.00 | +73% |
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