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Global Water Resources, Inc.

Global Water Resources, Inc.

NASDAQ•GWRS
CEO: Mr. Ron L. Fleming
Sector: Utilities
Industry: Regulated Water
Listing Date: 2016-04-28
Global Water Resources, Inc., a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
Contact Information
21410 North 19th Avenue, Suite 220, Phoenix, AZ, 85027, United States
480-360-7775
www.gwresources.com
Market Cap
$242.76M
P/E (TTM)
41.7
19.3
Dividend Yield
3.6%
52W High
$12.62
52W Low
$8.28
52W Range
4%
Rank63Top 84.3%
2.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$15.52M+8.37%
4-Quarter Trend

EPS

$0.06-50.00%
4-Quarter Trend

FCF

-$5.59M+17.85%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Growth Continues Total revenue reached $42.22M for nine months, marking a 7.0% increase versus prior year period.
Tucson System Acquisition Completed acquisition of seven Tucson water systems in July 2025, adding 4,241 connections for $8.12M.
Strong Operating Cash Flow Net cash from operations totaled $17.48M for nine months, reflecting a $1.68M improvement year-over-year.
Significant Equity Financing Gross proceeds of $13.1M from September private placement and $32.2M from March public offering closed.

Risk Factors

Regulatory Lag Cost Recovery Recovery of rising operating costs, like power and chemicals, faces regulatory lag risk from ACC rate cases.
Rate Case Testimony Differences Current GW-Utilities rate case testimony shows material differences from applications, posing adverse impact risk.
Pinal County Water Constraints Growth in Pinal County constrained by state law and groundwater regulations, potentially limiting future plat approvals.
High Investing Cash Usage Investing heavily in 2025 CapEx and acquisitions resulted in $57.73M net cash used in investing activities.

Outlook

Anticipate Organic Connection Growth Anticipate continued organic growth, targeting long-term Phoenix MSA expansion supported by ample lot availability and infrastructure.
Rate Case Resolution Timeline Anticipate ALJ hearing in December 2025 for GW-Utilities rate case, with ACC vote expected first half of 2026.
Sufficient Liquidity Position Cash on hand plus $20.0M Revolver capacity supports near-term needs, avoiding immediate financing commitments.
Infrastructure Investment Focus Capital plan execution continues, focusing on Total Water Management model deployment across core service areas.

Peer Comparison

Revenue (TTM)

Genie Energy Ltd.GNE
$483.28M
+13.1%
Montauk Renewables, Inc.MNTK
$160.68M
-17.5%
Artesian Resources CorporationARTNA
$111.78M
+5.8%

Gross Margin (Latest Quarter)

Pure Cycle CorporationPCYO
63.4%
+1.4pp
Global Water Resources, Inc.GWRS
49.2%
-25.0pp
Artesian Resources CorporationARTNA
40.3%
-13.9pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CDZI$483.96M-14.4-93.4%24.1%
YORW$475.48M23.68.6%0.0%
GNE$369.11M75.52.5%0.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
5.4%
Steady Growth
4Q Net Income CAGR
57.1%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Mar 4, 2026
|
EPS:$0.04
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 12, 2025|
    Revenue: $15.52M+8.4%
    |
    EPS: $0.06-50.0%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 13, 2025|
    Revenue: $14.24M+5.4%
    |
    EPS: $0.06-17.9%
    Meet

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 14, 2025|
    Revenue: $12.46M+7.3%
    |
    EPS: $0.02-15.0%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 5, 2025|
    Revenue: $52.69M-0.6%
    |
    EPS: $0.24-27.3%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 6, 2024|
    Revenue: $14.32M-1.5%
    |
    EPS: $0.12+9.1%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $13.51M+3.9%
    |
    EPS: $0.07-1.5%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $11.61M-11.6%
    |
    EPS: $0.03-71.4%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 7, 2024|
    Revenue: $53.03M+18.6%
    |
    EPS: $0.33+37.5%
    Beat