Water Utility Services was H2O America’s largest segment in fiscal 2025, bringing in $787.10M of $800.59M (98%).
| Segment | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Water Utility Services | $603.00M | $652.05M | $732.58M | $787.10M | ||||||||||||
| Other Services | $17.70M | $18.32M | $15.86M | $13.49M | ||||||||||||
| Real Estate Services | — | — | — | — | ||||||||||||
| Total | $620.70M | $670.36M | $748.44M | $800.59M |
H2O America brought in $800.59M from its two segments in fiscal 2025, the year ended December 31, 2025. That was up 7.0% from $748.44M in fiscal 2024. Water Utility Services was the largest at $787.10M (98.3%), ahead of Other Services at $13.49M (1.7%).
From fiscal 2022 to 2025, combined revenue from these segments grew from $620.70M to $800.59M, a compound annual growth rate of 8.9%. Water Utility Services' share of the total rose from 97.1% to 98.3%.
Regulated was H2O America’s largest revenue line in fiscal 2021, bringing in $558.15M of $573.69M (97%).
| Public Utility Regulated Or Unregulated Status | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Regulated | $384.64M | $407.12M | $548.01M | $558.15M | ||||||||
| Non- Tariffed | $13.06M | $13.37M | $16.51M | $15.53M | ||||||||
| Nonregulated Operation | — | — | — | — | ||||||||
| Nonregulated | — | — | — | — | ||||||||
| Total | $397.70M | $420.48M | $564.53M | $573.69M |
H2O America brought in $573.69M from its two revenue lines in fiscal 2021, the year ended December 31, 2021. That was up 1.6% from $564.53M in fiscal 2020. Regulated was the largest at $558.15M (97.3%), ahead of Non- Tariffed at $15.53M (2.7%).
Compared with fiscal 2020, Regulated grew 1.9% to $558.15M, while Non- Tariffed fell 5.9% to $15.53M. From fiscal 2018 to 2021, combined revenue from these revenue lines grew from $397.70M to $573.69M, a compound annual growth rate of 13.0%. Regulated's share of the total rose from 96.7% to 97.3%.
H2O America (HTO) reports its revenue by segment and by public utility regulated or unregulated status. In fiscal 2025, Water Utility Services was its largest segment, bringing in $787.10M (98.3% of the total), followed by Other Services at $13.49M (1.7%).
Water Utility Services was H2O America's largest segment in fiscal 2025, bringing in $787.10M, or 98.3% of the $800.59M total across its two segments.
Regulated was H2O America's largest revenue line in fiscal 2021, bringing in $558.15M, or 97.3% of the $573.69M total across its two revenue lines.
Regulated grew faster than Non- Tariffed in fiscal 2021, up 1.9% from $548.01M to $558.15M. Non- Tariffed fell 5.9% to $15.53M.
Every figure comes from H2O America's annual financial filings, as reported. Each line keeps the name H2O America gives it, and years follow its fiscal calendar.
H2O America'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.