Water was American States Water’s largest segment in fiscal 2025, bringing in $464.11M of $658.07M (71%).
| Segment | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Water | $340.60M | $433.47M | $417.41M | $464.11M | ||||||||||
| Water Service Utility Operations | — | — | — | — | ||||||||||
| Contracted Services: | $110.94M | $120.39M | $126.40M | $136.74M | ||||||||||
| Contracted Services | — | — | — | — | ||||||||||
| American States Utility Services | — | — | — | — | ||||||||||
| Contracts | — | — | — | — | ||||||||||
| Electric | $39.99M | $41.83M | $51.65M | $57.22M | ||||||||||
| Electric Service Utility Operations | — | — | — | — | ||||||||||
| Total | $491.53M | $595.70M | $595.46M | $658.07M |
American States Water brought in $658.07M from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 10.5% from $595.46M in fiscal 2024. Water was the largest at $464.11M (70.5%), ahead of Contracted Services: at $136.74M (20.8%) and Electric at $57.22M (8.7%).
Compared with fiscal 2024, Water grew fastest, up 11.2% to $464.11M. Every segment above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these segments grew from $491.53M to $658.07M, a compound annual growth rate of 10.2%. Water's share of the total rose from 69.3% to 70.5%.
Gswc was American States Water’s largest revenue line in fiscal 2025, bringing in $464.11M of $658.07M (71%).
| Legal Entity | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gswc | $340.60M | $433.47M | $417.41M | $464.11M | |||||||||||
| Golden State Water Company | — | — | — | — | |||||||||||
| American States Utility Services | $110.94M | $120.39M | $126.40M | $136.74M | |||||||||||
| Asus | — | — | — | — | |||||||||||
| Bves | $39.99M | $41.83M | $51.65M | $57.22M | |||||||||||
| Total | $491.53M | $595.70M | $595.46M | $658.07M |
American States Water brought in $658.07M from its three revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 10.5% from $595.46M in fiscal 2024. Gswc was the largest at $464.11M (70.5%), ahead of American States Utility Services at $136.74M (20.8%) and Bves at $57.22M (8.7%).
Compared with fiscal 2024, Gswc grew fastest, up 11.2% to $464.11M. Every revenue line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $491.53M to $658.07M, a compound annual growth rate of 10.2%. Gswc's share of the total rose from 69.3% to 70.5%.
American States Water (AWR) reports its revenue by segment and by legal entity. In fiscal 2025, Water was its largest segment, bringing in $464.11M (70.5% of the total), followed by Contracted Services: at $136.74M (20.8%).
Water was American States Water's largest segment in fiscal 2025, bringing in $464.11M, or 70.5% of the $658.07M total across its three segments.
Gswc was American States Water's largest revenue line in fiscal 2025, bringing in $464.11M, or 70.5% of the $658.07M total across its three revenue lines.
Among American States Water's segments that make up at least 2% of revenue, Water grew fastest in fiscal 2025, up 11.2% from $417.41M to $464.11M.
Every figure comes from American States Water's annual financial filings, as reported. Each line keeps the name American States Water gives it, and years follow its fiscal calendar.
American States Water's revenue by segment goes back to fiscal 2010, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.