American States Water runs regulated water utility service in California through Golden State Water, serving roughly 260,000 customers, alongside a military-base water and wastewater contract business under ASUS. Its moat is the regulatory rate base: authorized returns and a constructive rate case process let earnings grow with infrastructure spend that the state effectively underwrites, which is why an operating margin of 35.8% and an ROE of 13.7% sit comfortably in a sector that rarely earns those figures. Near-term growth is mainly rate base expansion from pipeline replacement and water supply investment, with revenue growth of 11.2% in the latest data. At a trailing P/E of 22.7 and forward P/E of 22.1, the stock is not cheap against utilities, so the case rests on whether that 11% top-line growth converts into durable earnings growth rather than a mere rerating. The Score of 63/100 and absence from major indices suggest it is a niche holding, which is worth a deeper look mainly on California regulatory outcomes and capex funding.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
Trades are only made public after a delay. We show the delay so you know how old the news is.
Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.
| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 21 Oct 2026, 12:04 CEST | Rating | Overvalued | first publication | $83.14 |
| 21 Oct 2026, 12:04 CEST | Fair value | $56.31 | $59.45 | $83.14 |
| 11 Oct 2026, 00:00 CEST | ACCE price target | $82.00 | first publication | $82.26 |
| 5 Oct 2026, 00:00 CEST | Fair value | $59.45 | $58.58 | $82.82 |
| 30 Sept 2026, 00:00 CEST | Fair value | $58.58 | $59.29 | $81.35 |
| 25 Sept 2026, 00:00 CEST | Fair value | $59.29 | $60.11 | $83.24 |
| 17 Sept 2026, 00:00 CEST | Fair value | $60.11 | $61.20 | $86.45 |
| 1 Sept 2026, 00:00 CEST | Fair value | $61.20 | $60.18 | $89.88 |
| 24 Aug 2026, 00:00 CEST | Fair value | $60.18 | $61.40 | $88.90 |
| 19 Aug 2026, 00:00 CEST | Fair value | $61.40 | $64.94 | $87.42 |
Answered from American States Water Company Common Stock fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| AWR American States Water Company Common Stock | $85.44 | $56 | 52% above | 23.4x | 13.7% | 77 | 63 |
| CWT California Water Service Group Common Stock | $47.54 | $45 | 7% above | 21.3x | 7.7% | 69 | 67 |
| HTO H2O America Common Stock | $58.66 | - | - | 20.7x | 6.5% | 65 | 51 |
| PNN.L Pennon Group Plc | £3.33 | £4 | 6% below | 19.7x | 6.5% | 61 | 46 |
| AGUAS-A.SN Aguas Andinas S.A | CLP 334.00 | - | - | 14.4x | 10.7% | 73 | 57 |
| MSEX Middlesex Water Company Common Stock | $55.80 | $45 | 23% above | 21.6x | 9.8% | 72 | 62 |
| WTRG Essential Utilities Inc. Common Stock | $43.30 | $37 | 18% above | 22.0x | 8.1% | 72 | 55 |
Where AWR ranks against its sector peers on each metric.