HTO
Market read
The latest filing is mixed. 7 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 3 directly disclosed connections are confirming.
Invalidation: The live read weakens if participation falls to 4 of 12 members or fewer.
Research brief
The latest filing is mixed. 7 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 3 directly disclosed connections are confirming.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Other (Expense) Income For the three months ended March 31, 2026, compared to the same period in 2025, the change in other (expense) income of $0.9 million was primarily due to higher income from the equity portion of the Allowance for Funds Used During Const…”10-Q · Apr 29, 2026 ↗
“In three months ended March 31, 2026, the increase in cash flows from operations was primarily attributable to higher net income, changes in working capital balances, and changes in regulatory assets and liabilities.”10-Q · Apr 29, 2026 ↗
“This increase of $180,006 is primarily a result of (1) an increase in company-funded capital expenditures of $136,578, primarily driven by $73,766 of expenditures at TWC and $62,738 at SJWC, (2) proceeds from the sale of real estate investments decreased by $…”10-K · Feb 26, 2026 ↗
“Our water systems experience higher demand in the summer due to the warmer temperatures and increased usage by customers for outside irrigation of lawns and landscaping.”10-K · Feb 26, 2026 ↗
Valuation discipline
Price/sales 2.7× · EV/sales 5.0×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for HTO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
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
10-Q filed 2026-04-29 against the comparable filing from 2025-04-29.
“2025 (In thousands) Water Utility Services: Consumption changes $ 2,003 1 % Increase in customers 321 — % Rate increases for: Pass-through water costs 1 4,005 2 % All other increases 2 7,839 5 % Regulatory mechanisms 3 427 — % Service and other revenue — — % Other Services 1,099 1 % Total change in operating revenue $ 15,694 9 % ____________________ (1) Consists of rate increases specifically associated with changes in the water supply costs that are passed through to customers. (2) Primarily associated with general rate cases and related annual escalation adjustments, infrastructure surcharges, and cost of capital adjustments. (3) Excludes portion attributable to rate increases, which are...”
“Net cash provided by financing activities for the three months ended March 31, 2026 increased by $127.4 million from the same period in the prior year, primarily as a result of (1) an increase in net proceeds from common stock equity offerings of $262.1 million, (2) an increase in cash receipts of advances and contributions in aid of construction of $2.5 million, offset by (3) an increase in net repayments on the lines of credit of $120.3 million, (4) an increase in net repayments on long-term borrowings of $15.2 million and (5) an increase in payments of dividends of $1.8 million.”
“Other (Expense) Income For the three months ended March 31, 2026, compared to the same period in 2025, the change in other (expense) income of $0.9 million was primarily due to higher income from the equity portion of the Allowance for Funds Used During Construction (AFUDC), an increase in interest expense, and an increase in pension non-service credit.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“TWC also has treated water supply agreements with the LCRA and WTCPUA expiring in 2059 and 2046, respectively, for 350 acre-feet of water per each agreement per year from Lake Austin and the Colorado River, respectively, at prices that may be adjusted periodi…”
“TWC also has treated water supply agreements with the Lower Colorado River Authority (“LCRA”) and West Travis County Public Utility Agency (“WTCPUA”) expiring in 2059 and 2046, respectively, to provide for 350 acre-feet of water per year from Lake Austin and…”
“On September 12, 2025, H2O America and its subsidiaries, SJWC, SJWTX, CWC and MWC, entered into an Amended and Restated Credit Agreement to extend and increase the revolving credit facility with JPMorgan Chase Bank and Wells Fargo Securities, LLC.”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
HTO 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. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.