California Water Service (CWT) Operating Margin (2009 - 2026)
California Water Service's quarterly Operating Margin came in at 8.47% in Q1 2026, down 249.0% year-on-year from 5.68% in Q1 2025, and down 27.26% quarter-over-quarter from 11.64% in Q4 2025.
California Water Service has reported Operating Margin for 18 years, with the latest figure at 8.47% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin fell 249.0% year-over-year to 8.47%; the trailing twelve-month figure through Mar 2026 stood at 16.44% (down 103.0% YoY), and the FY2025 full-year result was 17.03%, down 467.0% from the prior year.
- Operating Margin for Q1 2026 stood at 8.47%, down from 11.64% in the prior quarter.
- The five-year high for Operating Margin was 28.77% in Q1 2024, with the low at 13.37% in Q1 2023.
- Average Operating Margin over 5 years is 14.29%, with a median of 14.51% recorded in 2024.
- Year-over-year, Operating Margin sank 1865 bps in 2023 and surged 4214 bps in 2024.
- Tracing CWT's Operating Margin over 5 years: stood at 13.08% in 2022, then advanced by 26 bps to 16.43% in 2023, then retreated by 12 bps to 14.51% in 2024, then retreated by 20 bps to 11.64% in 2025, then dropped by 27 bps to 8.47% in 2026.
- The last three Operating Margin figures came in at 8.47% (Q1 2026), 11.64% (Q4 2025), and 22.69% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | American Water Works Company | 24.16 Bn | 24.02 Bn | 714.00 Mn | 32.39% |
| 2 | Aris Mining | 20.33 Bn | 19.86 Bn | 233.28 Mn | 48.07% |
| 3 | Essential Utilities | 10.48 Bn | 10.40 Bn | 685.96 Mn | 36.05% |
| 4 | American States Water | 2.94 Bn | 2.93 Bn | 104.19 Mn | 40.91% |
| 5 | California Water Service | 2.58 Bn | 2.48 Bn | 183.34 Mn | 8.47% |
| 6 | H2O America | 2.18 Bn | 2.03 Bn | 171.30 Mn | 20.42% |
| 7 | Middlesex Water | 959.61 Mn | 957.57 Mn | 25.70 Mn | 26.90% |
| 8 | Consolidated Water | 465.28 Mn | 344.14 Mn | 10.92 Mn | 11.48% |
| 9 | York Water | 430.12 Mn | 430.12 Mn | 13.98 Mn | 31.81% |
| 10 | Artesian Resources | 332.86 Mn | 328.60 Mn | 26.56 Mn | 22.60% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 8.47% |
| Dec 31, 2025 | 11.64% |
| Sep 30, 2025 | 22.69% |
| Jun 30, 2025 | 19.55% |
| Mar 31, 2025 | 10.95% |
| Dec 31, 2024 | 14.51% |
| Sep 30, 2024 | 22.28% |
| Jun 30, 2024 | 19.72% |
| Mar 31, 2024 | 28.77% |
| Dec 31, 2023 | 16.43% |
| Sep 30, 2023 | 17.05% |
| Jun 30, 2023 | 8.22% |
| Mar 31, 2023 | -13.37% |
| Dec 31, 2022 | 13.08% |
| Sep 30, 2022 | 24.39% |
| Jun 30, 2022 | 13.23% |
| Mar 31, 2022 | 5.28% |
| Dec 31, 2021 | 6.03% |
| Sep 30, 2021 | 27.72% |
| Jun 30, 2021 | 19.82% |
| Mar 31, 2021 | 1.98% |
| Dec 31, 2020 | 13.23% |
| Sep 30, 2020 | 34.88% |
| Jun 30, 2020 | 7.12% |
| Mar 31, 2020 | -5.51% |
| Dec 31, 2019 | 11.51% |
| Sep 30, 2019 | 22.18% |
| Jun 30, 2019 | 15.09% |
| Mar 31, 2019 | 0.38% |
| Dec 31, 2018 | 15.85% |
| Sep 30, 2018 | 21.39% |
| Jun 30, 2018 | 15.34% |
| Mar 31, 2018 | 7.31% |
| Dec 31, 2017 | 14.05% |
| Sep 30, 2017 | 20.51% |
| Jun 30, 2017 | 16.21% |
| Mar 31, 2017 | 9.65% |
| Dec 31, 2016 | 14.14% |
| Sep 30, 2016 | 16.31% |
| Jun 30, 2016 | 12.16% |
| Mar 31, 2016 | 5.15% |
| Dec 31, 2015 | 10.81% |
| Sep 30, 2015 | 17.54% |
| Jun 30, 2015 | 11.42% |
| Mar 31, 2015 | 6.15% |
| Dec 31, 2014 | 12.06% |
| Sep 30, 2014 | 21.36% |
| Jun 30, 2014 | 14.70% |
| Mar 31, 2014 | 1.04% |
| Dec 31, 2013 | 8.71% |
| Sep 30, 2013 | 19.42% |
| Jun 30, 2013 | 13.45% |
| Mar 31, 2013 | 5.18% |
| Dec 31, 2012 | 9.26% |
| Sep 30, 2012 | 20.41% |
| Jun 30, 2012 | 13.67% |
| Mar 31, 2012 | 5.66% |
| Dec 31, 2011 | 7.36% |
| Sep 30, 2011 | 17.77% |
| Jun 30, 2011 | 14.88% |
| Mar 31, 2011 | 10.14% |
| Dec 31, 2010 | 11.29% |
| Sep 30, 2010 | 17.67% |
| Jun 30, 2010 | 13.76% |
| Mar 31, 2010 | 8.59% |
| Dec 31, 2009 | 11.03% |
| Sep 30, 2009 | 17.31% |
| Jun 30, 2009 | 13.68% |