NASDAQ : GWRS
Global Water Resources, Inc. — Financial statements
Utilities · Utilities - Regulated Water · United States
Last price 7.81 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 224.89M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Global Water Resources, Inc. (GWRS) reported revenue of 60.11M 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 | 60.11M | 55.76M | 52.69M | 53.03M | 44.73M | 41.91M |
| Operations & Maintenance | 16.88M | 15.75M | 13.73M | 12.67M | 10.89M | 10.30M |
| Selling, General & Admin | 18.04M | 17.86M | 16.88M | 16.64M | 16.13M | 15.15M |
| Depreciation & Amortization | 17.02M | 15.00M | 12.72M | 11.44M | 9.89M | 9.49M |
| Total Operating Expenses | 51.94M | 48.60M | 43.33M | 40.74M | 36.91M | 34.94M |
| Operating Income | 8.18M | 7.16M | 9.36M | 12.29M | 7.82M | 6.98M |
| Interest Expense | -6.33M | -5.96M | -6.10M | -4.88M | -4.76M | -5.20M |
| Interest Income | 216.00K | 446.00K | 946.00K | 52.00K | 65.00K | 19.00K |
| Net Interest Expense | -6.11M | -5.52M | -5.15M | -4.83M | -4.69M | -5.18M |
| Allowance for Equity Funds for Construction | 1.12M | 1.16M | 892.00K | |||
| Allowance for Borrowed Funds for Construction | 723.00K | |||||
| Other Non-Operating Income (Expenses) | 2.30M | 2.44M | 3.07M | 3.33M | 2.59M | 1.46M |
| EBT Excluding Unusual Items | 5.48M | 5.23M | 8.17M | 10.79M | 6.44M | 3.26M |
| Gain (Loss) on Sale of Assets | -1.25M | -1.25M | -309.00K | 63.00K | 1.50M | |
| Pretax Income | 4.23M | 3.98M | 7.86M | 10.85M | 6.44M | 4.76M |
| Income Tax Expense | 1.10M | 1.03M | 2.07M | 2.87M | 934.00K | 1.15M |
| Net Income | 3.13M | 2.96M | 5.79M | 7.98M | 5.51M | 3.61M |
| Net Income to Common | 3.13M | 2.96M | 5.79M | 7.98M | 5.51M | 3.61M |
| Shares Outstanding (Basic) | 28.45M | 27.03M | 24.20M | 24.04M | 23.17M | 22.62M |
| Shares Outstanding (Diluted) | 28.49M | 27.08M | 24.30M | 24.13M | 23.33M | 22.90M |
| EPS (Basic) | 0.11 | 0.11 | 0.24 | 0.33 | 0.24 | 0.16 |
| EPS (Diluted) | 0.11 | 0.11 | 0.24 | 0.33 | 0.24 | 0.16 |
| Free Cash Flow | -24.34M | -47.15M | -10.54M | 3.08M | -10.65M | 2.14M |
| Free Cash Flow Per Share | -0.85 | -1.74 | -0.43 | 0.13 | -0.46 | 0.09 |
| Dividend Per Share | 0.31 | 0.30 | 0.30 | 0.30 | 0.30 | 0.29 |
| Profit Margin | 5.21% | 5.30% | 10.99% | 15.05% | 12.31% | 8.61% |
| Free Cash Flow Margin | -40.50% | -84.57% | -20.00% | 5.81% | -23.81% | 5.10% |
| EBITDA | 25.19M | 22.15M | 22.08M | 23.72M | 17.71M | 16.47M |
| EBITDA Margin | 41.91% | 39.73% | 41.91% | 44.74% | 39.59% | 39.29% |
| D&A For EBITDA | 17.02M | 15.00M | 12.72M | 11.44M | 9.89M | 9.49M |
| EBIT | 8.18M | 7.16M | 9.36M | 12.29M | 7.82M | 6.98M |
| EBIT Margin | 13.60% | 12.83% | 17.77% | 23.17% | 17.48% | 16.65% |
| Effective Tax Rate | 25.94% | 25.76% | 26.37% | 26.46% | 14.50% | 24.16% |
| Revenue as Reported | 60.11M | 55.76M | 52.69M | 53.03M | 44.73M | 41.91M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.46M | 4.08M | 9.05M | 3.09M | 6.56M | 12.64M |
| Accounts Receivable | 7.87M | 7.16M | 6.34M | 6.14M | 5.16M | 4.71M |
| Other Receivables | 769.00K | 904.00K | 2.74M | 807.00K | ||
| Prepaid Expenses | 1.24M | 1.43M | 1.18M | 1.24M | 2.44M | 1.65M |
| Other Current Assets | 433.00K | 1.06M | 155.00K | 451.00K | ||
| Total Current Assets | 11.78M | 14.62M | 19.47M | 11.72M | 14.16M | 18.99M |
| Property, Plant & Equipment | 449.37M | 445.84M | 363.90M | 325.06M | 289.63M | 255.87M |
| Regulatory Assets | 7.02M | 7.00M | 4.03M | 2.90M | 3.17M | 2.34M |
| Goodwill | 6.51M | 6.51M | 9.49M | 10.82M | 4.96M | 5.73M |
| Other Intangible Assets | 5.94M | 6.06M | 6.06M | 8.84M | 10.05M | 10.34M |
| Long-Term Deferred Charges | 87.00K | |||||
| Other Long-Term Assets | 3.54M | 2.87M | 2.19M | 1.75M | 1.03M | 816.00K |
| Total Assets | 484.15M | 482.91M | 405.14M | 361.10M | 323.09M | 294.07M |
| Accounts Payable | 1.04M | 2.25M | 2.05M | 1.03M | 2.17M | 2.12M |
| Accrued Expenses | 3.68M | 4.12M | 3.69M | 4.20M | 6.18M | 7.51M |
| Current Portion of Long-Term Debt | 3.95M | 3.94M | 3.93M | 3.88M | 3.83M | 3.83M |
| Current Portion of Leases | 638.00K | 850.00K | 871.00K | 553.00K | 505.00K | 142.00K |
| Current Income Taxes Payable | 1.61M | 1.50M | 1.65M | 1.44M | ||
| Other Current Liabilities | 6.30M | 6.57M | 10.07M | 3.12M | 3.56M | 3.33M |
| Total Current Liabilities | 17.23M | 19.23M | 22.26M | 14.22M | 16.25M | 16.93M |
| Long-Term Debt | 133.63M | 129.76M | 118.52M | 103.66M | 104.94M | 108.73M |
| Long-Term Leases | 3.53M | 3.74M | 1.45M | 1.37M | 1.62M | 199.00K |
| Long-Term Unearned Revenue | 61.85M | 60.63M | 58.35M | 52.48M | 47.38M | 40.36M |
| Long-Term Deferred Tax Liabilities | 9.77M | 9.70M | 9.70M | 8.28M | 5.95M | 3.27M |
| Other Long-Term Liabilities | 173.31M | 173.25M | 147.26M | 132.47M | 102.56M | 94.55M |
| Total Liabilities | 399.31M | 396.30M | 357.53M | 312.48M | 278.69M | 264.05M |
| Common Stock | 286.00K | 285.00K | 240.00K | 240.00K | 239.00K | 228.00K |
| Additional Paid-In Capital | 85.33M | 87.29M | 47.37M | 47.59M | 44.16M | 29.80M |
| Retained Earnings | -768.00K | -961.00K | 797.00K | |||
| Treasury Stock | -2.00K | -2.00K | -2.00K | -2.00K | -2.00K | -2.00K |
| Shareholders' Equity | 84.84M | 86.62M | 47.60M | 48.62M | 44.39M | 30.03M |
| Total Liabilities & Equity | 484.15M | 482.91M | 405.14M | 361.10M | 323.09M | 294.07M |
| Total Debt | 141.74M | 138.29M | 124.77M | 109.46M | 110.90M | 112.91M |
| Net Cash (Debt) | -140.28M | -134.21M | -115.72M | -106.37M | -104.34M | -100.27M |
| Net Cash Per Share | -4.92 | -4.96 | -4.76 | -4.41 | -4.47 | -4.38 |
| Filing Date Shares Outstanding | 28.80M | 28.76M | 24.23M | 24.18M | 23.87M | 22.65M |
| Total Common Shares Outstanding | 28.80M | 28.76M | 24.23M | 24.18M | 23.87M | 22.65M |
| Working Capital | -5.45M | -4.60M | -2.79M | -2.49M | -2.09M | 2.06M |
| Book Value Per Share | 2.95 | 3.01 | 1.96 | 2.01 | 1.86 | 1.33 |
| Tangible Book Value | 72.39M | 74.04M | 32.06M | 28.96M | 29.39M | 13.96M |
| Tangible Book Value Per Share | 2.51 | 2.57 | 1.32 | 1.20 | 1.23 | 0.62 |
| Land | 2.90M | 2.30M | 2.67M | 1.48M | 1.34M | |
| Buildings | 88.53M | 67.31M | ||||
| Machinery | 623.60M | 470.54M | 391.36M | 414.87M | 344.04M | 313.70M |
| Construction In Progress | 48.80M | 54.39M | 48.15M | 66.04M | 53.51M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.13M | 2.96M | 5.79M | 7.98M | 5.51M | 3.61M |
| Depreciation & Amortization | 17.02M | 15.00M | 13.10M | 11.76M | 10.07M | 9.49M |
| Other Amortization | 44.00K | 90.00K | ||||
| Loss (Gain) on Sale of Assets | 1.25M | 1.25M | 309.00K | -63.00K | 4.00K | 18.00K |
| Stock-Based Compensation | 993.00K | 861.00K | 1.03M | 1.32M | 1.53M | 2.88M |
| Change in Accounts Receivable | 1.50M | 85.00K | -1.99M | -994.00K | -248.00K | 82.00K |
| Change in Accounts Payable | -292.00K | 151.00K | -915.00K | -635.00K | -1.83M | 415.00K |
| Change in Other Net Operating Assets | -700.00K | 342.00K | 3.75M | 3.51M | 6.79M | 4.02M |
| Other Operating Activities | -2.40M | -477.00K | 706.00K | 2.51M | 1.37M | -307.00K |
| Operating Cash Flow | 20.50M | 20.17M | 21.79M | 25.39M | 23.34M | 20.39M |
| Capital Expenditures | -44.84M | -67.32M | -32.32M | -22.31M | -33.98M | -18.25M |
| Cash Acquisitions | -8.10M | -8.10M | -150.00K | -6.25M | -180.00K | -2.07M |
| Other Investing Activities | -4.00K | -40.00K | -24.00K | -1.00K | ||
| Investing Cash Flow | -52.94M | -75.42M | -32.48M | -28.60M | -34.19M | -20.32M |
| Long-Term Debt Issued | 26.17M | 22.36M | 2.58M | 259.00K | ||
| Long-Term Debt Repaid | -15.28M | -6.51M | -4.36M | -3.83M | -2.07M | |
| Net Debt Issued (Repaid) | 16.45M | 10.89M | 15.85M | -1.78M | -3.57M | -2.07M |
| Issuance of Common Stock | 13.09M | 44.13M | 2.75M | 14.81M | 4.00K | |
| Repurchase of Common Stock | -373.00K | -585.00K | -656.00K | |||
| Common Dividends Paid | -8.65M | -8.20M | -7.30M | -7.18M | -6.89M | -6.61M |
| Other Financing Activities | 4.05M | 4.11M | 8.54M | 7.00M | 1.20M | 1.40M |
| Financing Cash Flow | 24.94M | 50.93M | 17.09M | 406.00K | 4.97M | -7.93M |
| Net Cash Flow | -7.50M | -4.32M | 6.39M | -2.80M | -5.88M | -7.86M |
| Free Cash Flow | -24.34M | -47.15M | -10.54M | 3.08M | -10.65M | 2.14M |
| Free Cash Flow Margin | -40.50% | -84.57% | -20.00% | 5.81% | -23.81% | 5.10% |
| Free Cash Flow Per Share | -0.85 | -1.74 | -0.43 | 0.13 | -0.46 | 0.09 |
| Levered Free Cash Flow | -27.01M | -53.87M | -10.26M | -7.77M | -22.31M | -3.18M |
| Unlevered Free Cash Flow | -23.05M | -50.14M | -6.45M | -4.71M | -19.38M | -23.12K |
| Cash Interest Paid | 5.67M | 5.69M | 5.18M | 4.69M | 1.45M | 5.23M |
| Cash Income Tax Paid | 705.00K | 1.73M | 107.00K | 706.00K | 1.59M | 1.61M |
| Change in Working Capital | 504.00K | 578.00K | 848.00K | 1.88M | 4.71M | 4.52M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 231.51M | 242.94M | 278.55M | 316.16M | 316.94M | 387.30M |
| Enterprise Value | 371.80M | 359.63M | 386.89M | 419.92M | 414.36M | 481.02M |
| PE Ratio | 72.96 | 82.16 | 48.12 | 39.61 | 57.56 | 107.31 |
| PS Ratio | 3.81 | 4.36 | 5.29 | 5.96 | 7.09 | 9.24 |
| PB Ratio | 2.63 | 2.81 | 5.85 | 6.50 | 7.14 | 12.90 |
| P/FCF Ratio | 102.62 | 181.32 | ||||
| P/OCF Ratio | 11.18 | 12.05 | 12.79 | 12.45 | 13.58 | 19.00 |
| EV/Sales Ratio | 6.15 | 6.45 | 7.34 | 7.92 | 9.26 | 11.48 |
| EV/EBITDA Ratio | 14.67 | 16.23 | 17.52 | 17.70 | 23.40 | 29.21 |
| EV/EBIT Ratio | 45.19 | 50.26 | 41.32 | 34.18 | 52.99 | 68.92 |
| EV/FCF Ratio | 136.29 | 225.20 | ||||
| Debt / Equity Ratio | 1.67 | 1.60 | 2.62 | 2.25 | 2.50 | 3.76 |
| Debt / EBITDA Ratio | 5.63 | 6.13 | 5.55 | 4.54 | 6.15 | 6.86 |
| Debt / FCF Ratio | 35.53 | 52.86 | ||||
| Net Debt / Equity Ratio | 1.65 | 1.55 | 2.43 | 2.19 | 2.35 | 3.34 |
| Net Debt / EBITDA Ratio | 5.57 | 6.06 | 5.24 | 4.48 | 5.89 | 6.09 |
| Net Debt / FCF Ratio | -5.76 | -2.85 | -10.98 | 34.52 | -9.80 | 46.94 |
| Quick Ratio | 0.59 | 0.63 | 0.81 | 0.71 | 0.72 | 1.02 |
| Current Ratio | 0.68 | 0.76 | 0.88 | 0.82 | 0.87 | 1.12 |
| Asset Turnover | 0.13 | 0.13 | 0.14 | 0.15 | 0.14 | 0.14 |
| Return on Equity (ROE) | 3.88% | 4.41% | 12.03% | 17.16% | 14.80% | 11.60% |
| Return on Assets (ROA) | 1.09% | 1.01% | 1.53% | 2.25% | 1.58% | 1.51% |
| Return on Capital Employed (ROCE) | 1.80% | 1.50% | 2.40% | 3.50% | 2.50% | 2.50% |
| Earnings Yield | 1.37% | 1.22% | 2.08% | 2.53% | 1.74% | 0.93% |
| FCF Yield | -10.62% | -19.41% | -3.78% | 0.97% | -3.36% | 0.55% |
| Dividend Yield | 3.78% | 3.60% | 2.61% | 2.29% | 2.26% | 1.70% |
| Payout Ratio | 275.85% | 277.34% | 126.07% | 90.02% | 125.12% | 183.13% |
| Buyback Yield / Dilution | -13.29% | -11.41% | -0.72% | -3.42% | -1.88% | -1.46% |
| Total Shareholder Return | -9.47% | -7.81% | 1.89% | -1.12% | 0.38% | 0.24% |