Credit and interest ratesmixed · 4 filings
“The increases were primarily due to higher average outstanding borrowings partially offset by lower interest rates.”10-Q · Jul 30, 2026 ↗
California Water Service Group
CWT
Market read
California Water Service Group's move is spreading beyond its market group.
The latest filing evidence is available. 6 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 0 directly disclosed connections are confirming.
What changed
- Revenue increased 8.0% versus the comparable filing period.
- Operating margin fell 3.0 percentage points.
Company-1.4% todayVolume comparison unavailable
Market group6 of 12 activeRegulated Water Utilities · inactive
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- At least 8 of 12 durable members become active together.
- Capital-flow agreement rises above 55%.
- CNP remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 4 of 12 members or fewer.
Research brief
The story so far
The latest filing evidence is available. 6 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 0 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 8.0% versus the comparable filing period.
Evidence that challenges
- Operating margin fell 3.0 percentage points.
- Net income decreased 69.7% versus the comparable filing period.
- Net margin fell 5.3 percentage points.
What would clarify the read
- At least 8 of 12 durable members become active together.
- Capital-flow agreement rises above 55%.
- CNP remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements134
Verified relationships0
Evidence supporting the case
- Latest annual revenue changed +6.4% year over year.
- Operating cash flow covered net income at 2.36x in the latest annual period.
Evidence challenging the case
- Operating margin changed -7.2 percentage points in the latest annual period.
- Net margin changed -7.8 percentage points in the latest annual period.
Questions before a position
- EV/sales is 29% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
48.186m+8.6%12m+5.5%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$765.7M+9.8%$1.96+4.8%
2022-12-31$772.6M+0.9%$1.77+5.3%
2023-12-31$790.3M+2.3%$0.91+4.8%
2024-12-31$905.6M+14.6%$3.25+2.9%
2025-12-31$963.7M+6.4%$2.15+1.7%
What management says matters
Persistent and emerging business drivers
Legal and regulatory exposuremixed · 2 filings
“The transaction is expected to close by the end of 2026 and is subject to regulatory approvals and other customary closing conditions.”10-K · Feb 27, 2026 ↗
Capital investment and capacitymixed · 1 filings
“We expect our annual capital expenditures to increase during the next five years due to increasing needs to replace and maintain infrastructure.”10-K · Feb 27, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.0× · EV/sales 4.5×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
48.18-1.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for CWT. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-04-30 against the comparable filing from 2025-05-01.
OperationscautiousEvidence score -1
liquidityneutralEvidence score 0
valuationmixed
What improved
- Revenue increased 8.0% versus the comparable filing period.
What weakened
- Operating margin fell 3.0 percentage points.
- Net income decreased 69.7% versus the comparable filing period.
- Net margin fell 5.3 percentage points.
Filing receipts
“The increase was primarily due to a $0.7 million increase in software expenses, a $0.6 million increase in conservation program expenses, a $0.5 million increase in water treatment expenses, a $0.4 million increase related to obsolete inventory, and a $0.4 million increase in labor expense.”
“The increase in the first three months of 2026 as compared to the same period in 2025 was primarily due to an increase in cash collections in the first three months of 2026 as compared to 2025 due to an increase in customer rates.”
“The total operating expense increase was primarily due to increases in water production costs of $8.3 million, depreciation and amortization expenses of $4.0 million, and other operations expense of $2.4 million.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind CWT
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
CWT is currently a Early Follower in the organic co-movement group Regulated Water Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.