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American Water Works Company (AWC) Fair Value & Analysis

Utilities · DE · Market cap €22.3B · ISIN US0304201033

What is American Water Works Company really worth?

AW American Water Works Company AWC · XETRA
Price€120.85
Fair Value€56.79
Upside−53.0%
Quality41/100

Below-average quality, and trading another 113% above our fair value of €56.79.

As of Aug 30, 2026, the fair value of American Water Works Company is €56.79 per share against a price of €120.85, so the fair value sits 53% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Highly profitable · 21.2% net margin
Wide moat 66/100

Risks

!Mixed Growth (revenue 5y +6.4 %/yr)
!Moderate debt · negative free cash flow

For context

·2.74% dividend yield
Evidence: High Range €42.59 – €74.40

Fair value as of: Aug 30, 2026

From 16 valuation models · updated 7 days ago

Fair value updated Aug 30, 2026, revised from €56.44 to €56.79 (+0.6%) since Aug 27, 2026. Share price +4.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (€74.40). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

€150.92 €100.71 Fair Value €56.79 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range €100.71 – €150.92 · fair‑value band €42.59 – €74.40 · the €120.85 price screens above the €56.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

American Water Works Company (AWC) currently trades at €120.85, while our model-based Fair Value estimate is €56.79, implying the stock looks roughly 112.8% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of €88.71 per share, and 0 of the 16 models we run sit above the €120.85 price. Bear case: the Economic Profit group reads lowest at €24.40, and 16 of the 16 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, American Water Works Company generated revenue of €5.2B at a net margin of 21.2%. Revenue grew 5.7% year over year. It earns a return on equity of 10.2%. Net debt stands at €15.9B. Fundamentals as of Aug 30, 2026

Our scenario range runs from €42.59 (bear case) to €74.40 (bull case); at €120.85, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at 12% fair-value upside, at −53%, AWC screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €1.13 per share, which is 2.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence €49.33 €54.94 €82.50 75
EPV €11.66 €24.40 €35.56 70
ROIC Compounder €11.66 €24.40 €35.56 69
All 16 models by family
Earnings-Based
Graham-Dodd €38.69 €107.59 €141.39 65
Lynch FV €21.59 €30.84 €40.09 61
PEG = 1.0 €21.59 €30.84 €40.09 57
EPV €11.66 €24.40 €35.56 70
Dividend Discount
Gordon GGM €29.76 €61.89 €98.18 66
DDM Multi-Stage €29.76 €46.93 €64.95 66
Multiples
P/E Multiple €76.81 €102.41 €128.02 63
P/S Multiple €49.36 €65.81 €82.26 58
P/B Multiple €72.54 €96.72 €120.90 55
EV/EBIT €43.44 €79.52 €115.61 63
EV/EBITDA €41.69 €77.19 €112.69 65
EV/Revenue €0.9900 €20.73 50
Asset-Based
NCAV (Graham) €27.75 €37.18 €55.50 54
Economic Profit
Residual Income best evidence €49.33 €54.94 €82.50 75
ROIC Compounder €11.66 €24.40 €35.56 69
Growth Earnings
Growth-Adj P/E €62.10 €88.71 €115.33 67

Widest divergence: Growth Earnings (€88.71) versus Economic Profit (€24.40). Highest evidence: Residual Income (75).

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Key figures & financial health

P/E ratio 24.4
P/S ratio 5.27 P/E × margin
EPS (TTM) €4.96 price ÷ EPS = P/E 24.4
Dividend yield 2.7% payout 66.7%
Net margin 21.6% FY2025
Return on equity 10.2% TTM
More key figures
Profitability
Return on assets (EBIT) 4.9% avg 5y
Operating margin 33.2% TTM
Growth
Revenue (TTM) €5.2B TTM
Revenue growth (YoY) +5.7% 3y avg +10.7%
EPS growth (YoY) −4.8%
Balance sheet & cash flow
Free cash flow −€1.1B FY2025
Net debt €15.9B FY2025

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 39 · Market factors (momentum, volatility) 62

Profitability 36
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 18
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 70
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

American Water Works Company, Inc., through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services on military installations; and undertakes contracts with municipal customers, primarily to operate and manage water and wastewater facilities, as well as offers other related services.

Full company description

American Water Works Company, Inc., through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services on military installations; and undertakes contracts with municipal customers, primarily to operate and manage water and wastewater facilities, as well as offers other related services. The company also operates approximately 80 surface water treatment plants; 520 groundwater treatment plants; 170 wastewater treatment plants; 55,000 miles of transmission, distribution, and collection mains and pipes; 1,200 groundwater wells; 1,800 water and wastewater pumping stations; 1,100 treated water storage facilities; and 75 dams. In addition, it offers water and wastewater services to 14 states serving approximately 3.6 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities, such as schools and universities; and other utilities and community water and wastewater systems. The company was founded in 1886 and is headquartered in Camden, New Jersey.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

American Water Works Company reported revenue of $5.1B in FY2025 versus $3.9B in FY2021, a compound +6.9%/yr. Reported net income was $1.1B in FY2025, compounding −3.2%/yr from FY2021.

Growth Quality 31/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€5.1B
Latest YoY
+9.7%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.7%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.4%
Avg. revenue growth/yr (40Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+10.6% · in EUR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+7.9%
Dividend yield2.7%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 7.9% vs 10Y 8.1%, steady
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.33.0% (2020) → 36.6% (2025) · rising
Worst earnings drop35% (2022) · in EUR
Revenue +6.9%/yr
FY21 $3.9B
FY22 $3.8B
FY23 $4.2B
FY24 $4.7B
FY25 $5.1B
Net income −3.2%/yr
FY21 $1.3B
FY22 $820M
FY23 $944M
FY24 $1.1B
FY25 $1.1B
Character of growth · EPS growth decomposed (2014-2025) +8.6 % p.a.
Revenue per share +3.6 %

of which total revenue +4.5 % · buybacks/dilution −0.9 %

EBIT margin +0.9 %
Tax rate +2.9 %
Residual (interest, one-offs) +1.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

AWC screens 113% overvalued. Compare with SBS →

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Cite: Fair Value Calculator (2026). "American Water Works Company Fair Value". https://www.fairvalue-calculator.com/stock/AWC.XETRA

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

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Frequently asked questions

Is American Water Works Company (AWC) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of €56.79 versus a price of €120.85, about −53% upside (overvalued).
What is the fair value of AWC?
Our model-based fair value for American Water Works Company is €56.79 (as of Aug 30, 2026), built from audited fundamentals. The current price: €120.85.
What is the quality score of AWC?
American Water Works Company has a Quality Score of 41/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for American Water Works Company (AWC)?
Our model-based price target is the fair value of €56.79 (as of Aug 30, 2026) from 16 valuation models. Cautious scenario €42.59, optimistic scenario €74.40. It is a calculation from audited fundamentals, not an analyst target.
What is the American Water Works Company stock forecast for 2026?
Our models put fair value at €56.79, about −53% upside versus a price of €120.85 (overvalued). Cautious scenario €42.59, optimistic scenario €74.40. The calculation is refreshed regularly with new filings.
What is the revenue of American Water Works Company (AWC)?
American Water Works Company reported trailing-twelve-month revenue of about €5.2B (latest available figure, as of Aug 30, 2026).
What is the net profit margin of AWC?
The net profit margin of American Water Works Company is about 21.2%, meaning it keeps roughly 21.2% of revenue as net income. Based on the latest reported figures.
Does American Water Works Company pay a dividend?
American Water Works Company currently shows a dividend yield of about 2.74% relative to its recent price (as of Aug 30, 2026).
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