NASDAQ : CWCO
Consolidated Water Co. Ltd. — Financial statements
Utilities · Utilities - Regulated Water · Cayman Islands
Last price 26.96 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 431.71M
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Financial statements
Consolidated Water Co. Ltd. (CWCO) reported revenue of 127.61M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 127.61M | 132.07M | 133.97M | 180.21M | 94.10M | 66.86M |
| Selling, General & Admin | 10.79M | 11.23M | 9.91M | 8.39M | 8.55M | 6.23M |
| Depreciation & Amortization | 638.70K | 812.78K | 870.93K | 764.10K | 140.14K | |
| Amortization of Goodwill & Intangibles | 746.67K | |||||
| Other Operating Expenses | 100.53M | 101.77M | 105.10M | 133.88M | 76.27M | 54.59M |
| Total Operating Expenses | 111.97M | 113.81M | 115.88M | 143.04M | 84.82M | 61.71M |
| Operating Income | 15.65M | 18.26M | 18.09M | 37.17M | 9.28M | 5.16M |
| Interest Expense | -4.92K | -4.42K | -101.85K | -145.28K | -46.55K | -10.25K |
| Interest Income | 2.59M | 2.67M | 2.09M | 696.41K | 447.19K | 684.81K |
| Net Interest Expense | 2.58M | 2.67M | 1.99M | 551.12K | 400.64K | 674.56K |
| Income (Loss) on Equity Investments | 258.16K | 227.89K | 269.45K | 169.73K | 102.22K | 78.26K |
| Currency Exchange Gain (Loss) | 44.97K | 39.26K | 74.99K | 84.68K | 41.75K | 32.59K |
| Other Non-Operating Income (Expenses) | 98.59K | 92.18K | 56.88K | 22.78K | -79.81K | 838.18K |
| EBT Excluding Unusual Items | 18.63M | 21.29M | 20.48M | 38.00M | 9.75M | 6.78M |
| Impairment of Goodwill | -2.90M | |||||
| Gain (Loss) on Sale of Assets | 4.37K | 97.71K | 197.79K | -7.11K | -12.70K | -245.84K |
| Pretax Income | 18.64M | 21.39M | 20.68M | 38.00M | 9.74M | 3.63M |
| Income Tax Expense | 1.63M | 2.16M | 2.22M | 6.75M | 396.74K | -447.98K |
| Earnings From Continuing Ops. | 17.01M | 19.22M | 18.46M | 31.25M | 9.34M | 4.08M |
| Earnings From Discontinued Ops. | -223.61K | -290.63K | 10.36M | -1.09M | -2.37M | -2.57M |
| Net Income to Company | 16.78M | 18.93M | 28.82M | 30.16M | 6.97M | 1.51M |
| Minority Interest in Earnings | -624.77K | -593.18K | -577.59K | -573.79K | -1.11M | -632.91K |
| Net Income | 16.16M | 18.34M | 28.24M | 29.59M | 5.86M | 875.58K |
| Preferred Dividends & Other Adjustments | 23.23K | 22.57K | 18.59K | 15.51K | 11.53K | 10.80K |
| Net Income to Common | 16.14M | 18.31M | 28.22M | 29.57M | 5.84M | 864.78K |
| Shares Outstanding (Basic) | 15.96M | 15.92M | 15.83M | 15.74M | 15.29M | 15.21M |
| Shares Outstanding (Diluted) | 16.04M | 16.01M | 15.94M | 15.87M | 15.40M | 15.31M |
| EPS (Basic) | 1.01 | 1.15 | 1.78 | 1.88 | 0.38 | 0.06 |
| EPS (Diluted) | 1.01 | 1.14 | 1.77 | 1.86 | 0.38 | 0.06 |
| Free Cash Flow | 30.24M | 33.17M | 29.82M | 2.92M | 13.79M | 5.48M |
| Free Cash Flow Per Share | 1.89 | 2.07 | 1.87 | 0.18 | 0.90 | 0.36 |
| Dividend Per Share | 0.56 | 0.53 | 0.41 | 0.36 | 0.34 | 0.34 |
| Profit Margin | 12.64% | 13.87% | 21.06% | 16.41% | 6.21% | 1.29% |
| Free Cash Flow Margin | 23.70% | 25.12% | 22.26% | 1.62% | 14.65% | 8.19% |
| EBITDA | 22.68M | 25.17M | 24.78M | 43.75M | 15.47M | 11.90M |
| EBITDA Margin | 17.77% | 19.05% | 18.50% | 24.28% | 16.44% | 17.80% |
| D&A For EBITDA | 7.04M | 6.90M | 6.69M | 6.58M | 6.19M | 6.74M |
| EBIT | 15.65M | 18.26M | 18.09M | 37.17M | 9.28M | 5.16M |
| EBIT Margin | 12.26% | 13.83% | 13.50% | 20.63% | 9.87% | 7.71% |
| Effective Tax Rate | 8.74% | 10.12% | 10.73% | 17.77% | 4.07% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 132.63M | 123.79M | 99.35M | 42.62M | 50.71M | 40.36M |
| Short-Term Investments | 2.50M | |||||
| Accounts Receivable | 31.84M | 35.32M | 43.68M | 59.46M | 29.93M | 27.66M |
| Other Receivables | 735.80K | 373.65K | 322.61K | 28.38K | 180.26K | |
| Inventory | 3.94M | 3.74M | 8.96M | 6.04M | 5.73M | 2.50M |
| Prepaid Expenses | 5.34M | 5.93M | 5.11M | 3.95M | 5.61M | 2.56M |
| Other Current Assets | 110.54K | 35.62K | 128.00K | |||
| Total Current Assets | 173.87M | 169.64M | 157.75M | 112.71M | 92.57M | 77.06M |
| Property, Plant & Equipment | 66.29M | 64.78M | 60.81M | 58.51M | 58.29M | 56.34M |
| Goodwill | 12.86M | 12.86M | 12.86M | 12.86M | 10.43M | 10.43M |
| Other Intangible Assets | 1.96M | 2.10M | 2.70M | 3.35M | 2.82M | 3.40M |
| Long-Term Investments | 1.11M | 1.19M | 1.50M | 1.41M | 1.55M | 1.72M |
| Long-Term Deferred Charges | 600.00K | 800.00K | ||||
| Other Long-Term Assets | 6.78M | 7.00M | 7.70M | 8.45M | 5.62M | 5.46M |
| Total Assets | 262.87M | 257.57M | 243.31M | 218.44M | 193.01M | 176.35M |
| Accounts Payable | 10.60M | 9.62M | 9.06M | 11.60M | 8.84M | 3.00M |
| Accrued Expenses | 2.74M | 3.04M | 3.34M | 3.16M | 2.27M | 1.44M |
| Current Portion of Long-Term Debt | 13.11K | 47.55K | 126.32K | 192.03K | 114.96K | 62.49K |
| Current Unearned Revenue | 12.51M | 11.78M | 9.49M | 6.55M | 9.12M | 1.10M |
| Current Portion of Leases | 769.84K | 661.05K | 634.95K | 456.87K | 546.85K | 592.34K |
| Other Current Liabilities | 2.60M | 2.56M | 2.29M | 1.94M | 1.77M | 1.50M |
| Total Current Liabilities | 29.24M | 27.70M | 24.94M | 23.90M | 22.66M | 7.69M |
| Long-Term Debt | 2.88K | 25.95K | 70.32K | 191.19K | 216.12K | 152.04K |
| Long-Term Leases | 2.00M | 2.30M | 2.63M | 1.83M | 1.59M | 2.14M |
| Long-Term Deferred Tax Liabilities | 554.29K | 707.44K | 210.89K | 530.78K | 560.31K | 564.53K |
| Other Long-Term Liabilities | 78.00K | 153.00K | 153.00K | 153.00K | 219.11K | 148.82K |
| Total Liabilities | 31.87M | 30.89M | 28.00M | 26.61M | 25.24M | 10.69M |
| Total Preferred Equity | 28.64K | 23.70K | 26.40K | 26.58K | 20.63K | 17.18K |
| Common Stock | 9.60M | 9.57M | 9.51M | 9.46M | 9.19M | 9.15M |
| Additional Paid-In Capital | 96.05M | 95.31M | 93.55M | 92.19M | 89.21M | 87.81M |
| Retained Earnings | 119.97M | 116.75M | 106.88M | 85.15M | 61.25M | 60.60M |
| Total Common Equity | 225.61M | 221.63M | 209.93M | 186.80M | 159.65M | 157.56M |
| Minority Interest | 5.36M | 5.03M | 5.35M | 5.00M | 8.10M | 8.09M |
| Shareholders' Equity | 231.00M | 226.68M | 215.31M | 191.83M | 167.76M | 165.67M |
| Total Liabilities & Equity | 262.87M | 257.57M | 243.31M | 218.44M | 193.01M | 176.35M |
| Total Debt | 2.79M | 3.03M | 3.46M | 2.67M | 2.47M | 2.94M |
| Net Cash (Debt) | 129.84M | 120.76M | 95.89M | 39.95M | 48.24M | 39.91M |
| Net Cash Per Share | 8.09 | 7.54 | 6.02 | 2.52 | 3.13 | 2.61 |
| Filing Date Shares Outstanding | 16.01M | 15.96M | 15.87M | 15.80M | 15.72M | 15.27M |
| Total Common Shares Outstanding | 16.00M | 15.95M | 15.85M | 15.77M | 15.32M | 15.24M |
| Working Capital | 144.64M | 141.93M | 132.81M | 88.81M | 69.92M | 69.38M |
| Book Value Per Share | 14.10 | 13.90 | 13.25 | 11.84 | 10.42 | 10.34 |
| Tangible Book Value | 210.80M | 206.66M | 194.38M | 170.59M | 146.40M | 143.74M |
| Tangible Book Value Per Share | 13.17 | 12.96 | 12.27 | 10.82 | 9.55 | 9.43 |
| Land | 5.90M | 5.90M | 6.49M | 6.49M | 3.32M | |
| Buildings | 27.55M | 26.03M | 26.04M | 23.28M | 23.26M | |
| Machinery | 109.05M | 108.61M | 112.33M | 109.72M | 109.25M | |
| Construction In Progress | 6.70M | 5.14M | 495.47K | 3.71M | 710.86K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 16.16M | 18.34M | 28.24M | 29.59M | 5.86M | 875.58K |
| Depreciation & Amortization | 7.77M | 7.62M | 7.31M | 7.44M | 6.19M | 6.74M |
| Other Amortization | 179.35K | |||||
| Loss (Gain) on Sale of Assets | -4.37K | -97.71K | -197.79K | 7.11K | 12.70K | 245.84K |
| Loss (Gain) on Equity Investments | 203.91K | 317.51K | -42.20K | 133.27K | 170.47K | 376.24K |
| Asset Writedown | 2.90M | |||||
| Stock-Based Compensation | 1.86M | 1.77M | 1.40M | 1.93M | 1.42M | 977.23K |
| Change in Accounts Receivable | 15.99M | 7.70M | 15.29M | -29.61M | -2.12M | -5.88M |
| Change in Inventory | 1.34M | 4.24M | -3.75M | -891.40K | -3.39M | 293.25K |
| Change in Accounts Payable | -1.70M | -31.59K | -2.55M | 2.27M | 6.76M | -164.61K |
| Change in Unearned Revenue | -1.00M | 2.28M | 2.94M | -2.57M | 8.02M | 519.72K |
| Change in Other Net Operating Assets | -2.00M | -1.60M | -807.55K | -736.21K | -3.37M | -217.58K |
| Other Operating Activities | 804.70K | 787.19K | -10.68M | 561.75K | 2.49M | 1.11M |
| Net Cash from Discontinued Operations | -146.89K | -495.45K | -1.66M | -1.14M | -1.82M | -1.62M |
| Operating Cash Flow | 39.76M | 41.71M | 36.52M | 7.97M | 21.33M | 6.97M |
| Capital Expenditures | -9.52M | -8.54M | -6.70M | -5.05M | -7.54M | -1.49M |
| Sale of Property, Plant & Equipment | 124.23K | 102.14K | 446.34K | 20.81K | 61.73K | 45.56K |
| Cash Acquisitions | -5.86M | |||||
| Investment in Securities | -50.00K | 2.50M | -2.50M | |||
| Other Investing Activities | 33.26M | |||||
| Investing Cash Flow | -9.40M | -8.44M | 26.96M | -10.89M | -4.98M | -3.94M |
| Long-Term Debt Repaid | -123.14K | -186.59K | -135.48K | -72.09K | -49.73K | |
| Total Debt Repaid | -106.51K | -123.14K | -186.59K | -135.48K | -72.09K | -49.73K |
| Net Debt Issued (Repaid) | -106.51K | -123.14K | -186.59K | -135.48K | -72.09K | -49.73K |
| Issuance of Common Stock | 52.49K | 74.11K | 23.75K | 99.76K | 26.74K | 17.06K |
| Common Dividends Paid | -8.93M | -7.94M | -6.28M | -5.47M | -5.15M | -5.15M |
| Preferred Dividends Paid | -23.54K | -21.89K | -17.96K | -14.23K | -11.08K | -649.88K |
| Dividends Paid | -8.95M | -7.96M | -6.30M | -5.49M | -5.16M | -5.80M |
| Other Financing Activities | -913.31K | -913.31K | -232.10K | -1.10M | -11.02K | |
| Financing Cash Flow | -9.95M | -8.95M | -6.71M | -5.52M | -6.30M | -5.86M |
| Miscellaneous Cash Flow Adjustments | -34.95K | 114.08K | -36.58K | 350.97K | 307.80K | -595.92K |
| Net Cash Flow | 20.38M | 24.44M | 56.73M | -8.09M | 10.35M | -3.44M |
| Free Cash Flow | 30.24M | 33.17M | 29.82M | 2.92M | 13.79M | 5.48M |
| Free Cash Flow Margin | 23.70% | 25.12% | 22.26% | 1.62% | 14.65% | 8.19% |
| Free Cash Flow Per Share | 1.89 | 2.07 | 1.87 | 0.18 | 0.90 | 0.36 |
| Levered Free Cash Flow | 23.02M | 27.62M | 25.87M | 504.71K | 13.14M | 5.15M |
| Unlevered Free Cash Flow | 23.03M | 27.63M | 25.93M | 595.51K | 13.17M | 5.16M |
| Cash Interest Paid | 4.42K | 4.42K | 8.48K | 21.42K | 14.80K | 10.25K |
| Cash Income Tax Paid | 211.00K | 160.00K | ||||
| Change in Working Capital | 12.63M | 12.59M | 11.12M | -31.53M | 5.90M | -5.45M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 431.71M | 562.22M | 409.97M | 560.61M | 226.32M | 161.84M |
| Enterprise Value | 301.86M | 447.73M | 314.00M | 518.89M | 185.44M | 129.95M |
| PE Ratio | 26.81 | 30.70 | 14.53 | 18.96 | 38.72 | 187.15 |
| PS Ratio | 3.38 | 4.26 | 3.06 | 3.11 | 2.40 | 2.42 |
| PB Ratio | 1.91 | 2.48 | 1.90 | 2.92 | 1.35 | 0.98 |
| P/FCF Ratio | 14.27 | 16.95 | 13.75 | 191.80 | 16.41 | 29.55 |
| P/OCF Ratio | 10.86 | 13.48 | 11.23 | 70.33 | 10.61 | 23.23 |
| EV/Sales Ratio | 2.37 | 3.39 | 2.34 | 2.88 | 1.97 | 1.94 |
| EV/EBITDA Ratio | 13.31 | 17.79 | 12.67 | 11.86 | 11.98 | 10.92 |
| EV/EBIT Ratio | 19.29 | 24.52 | 17.36 | 13.96 | 19.97 | 25.20 |
| EV/FCF Ratio | 9.98 | 13.50 | 10.53 | 177.53 | 13.45 | 23.73 |
| Debt / Equity Ratio | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 |
| Debt / EBITDA Ratio | 0.12 | 0.11 | 0.13 | 0.06 | 0.15 | 0.22 |
| Debt / FCF Ratio | 0.09 | 0.09 | 0.12 | 0.91 | 0.18 | 0.54 |
| Net Debt / Equity Ratio | -0.56 | -0.53 | -0.45 | -0.21 | -0.29 | -0.24 |
| Net Debt / EBITDA Ratio | -5.72 | -4.80 | -3.87 | -0.91 | -3.12 | -3.35 |
| Net Debt / FCF Ratio | -4.29 | -3.64 | -3.22 | -13.67 | -3.50 | -7.29 |
| Quick Ratio | 5.63 | 5.77 | 5.75 | 4.28 | 3.56 | 9.20 |
| Current Ratio | 5.95 | 6.12 | 6.33 | 4.71 | 4.09 | 10.03 |
| Asset Turnover | 0.49 | 0.53 | 0.58 | 0.88 | 0.51 | 0.38 |
| Return on Equity (ROE) | 7.51% | 8.70% | 9.07% | 17.38% | 5.60% | 2.44% |
| Return on Assets (ROA) | 3.76% | 4.56% | 4.90% | 11.29% | 3.14% | 1.81% |
| Return on Capital Employed (ROCE) | 6.70% | 7.90% | 8.30% | 19.10% | 5.50% | 3.10% |
| Earnings Yield | 3.73% | 3.26% | 6.89% | 5.28% | 2.59% | 0.54% |
| FCF Yield | 7.01% | 5.90% | 7.27% | 0.52% | 6.09% | 3.38% |
| Dividend Yield | 2.08% | 1.50% | 1.58% | 1.01% | 2.30% | 3.20% |
| Payout Ratio | 55.68% | 43.40% | 22.32% | 18.55% | 88.06% | 662.59% |
| Buyback Yield / Dilution | -0.47% | -0.45% | -0.44% | -3.01% | -0.60% | -0.57% |
| Total Shareholder Return | 1.61% | 1.05% | 1.14% | -2.00% | 1.70% | 2.64% |