CALIFORNIA WATER SERVICE GROUP (CWT)

NYSE · Common Stock · Water Supply

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American public utility company

Corporate structure

7 entities across 5 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-27 — see the exhibit.

Which other public companies file entities in the same places:

California2 Hawaii2 New Mexico1 Washington1 Texas1

Subsidiaries of CALIFORNIA WATER SERVICE GROUP as disclosed in its SEC filing
Entity	Jurisdiction	Note
California Water Service Company	California
CWS Utility Services	California
New Mexico Water Service Company	New Mexico
Washington Water Service Company	Washington
Hawaii Water Service Company, Inc.	Hawaii
HWS Utility Services LLC	Hawaii
TWSC, Inc.	Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

4 / 8

PASSReturn on assets positiveROA 2.3%
PASSOperating cash flow positiveOCF 303M
FAILReturn on assets improving3.7% → 2.3%
PASSCash flow exceeds earningsOCF 303M vs NI 128M
FAILLong-term debt ratio falling21.3% → 26.0% of assets
PASSCurrent ratio improving0.60 → 0.85
FAILNo share dilution59M → 60M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.17× → 0.17×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$697.6M	$96.8M	—	—	49,274,000
FY2021	$765.7M	$101.1M	—	—	51,633,000
FY2022	$772.6M	$96.0M	—	—	54,363,000
FY2023	$790.3M	$51.9M	—	—	56,983,000
FY2024	$905.6M	$190.8M	—	—	58,647,000
FY2025	$963.7M	$128.2M	—	—	59,633,000

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2026Q1: $823,000
2025Q1: $1.1M
2024Q1: $1.1M
2023Q1: $1.5M
2022Q1: $1.7M
2021Q1: $1.4M

Identity

CIK: 0001035201
LEI: 529900QABDOBU6UVRQ36
FIGI: BBG000D8KTN6
SIC: 4941 · Water Supply
Incorporated: DE
Headquarters: SAN JOSE, CA
Founded: 1997-00-00

Ownership

Institutional: 98.5%
Institutions: 481
Insiders: 0.6%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other water supply companies

CALIFORNIA WATER SERVICE GROUP files under SIC 4941 — all 3 water supply companies compared on assets and F-score.

American Water Works Company, Inc.AWK H2O AMERICAHTO

Questions about CALIFORNIA WATER SERVICE GROUP

How many subsidiaries does CALIFORNIA WATER SERVICE GROUP file with the SEC?: 7, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by California, New Mexico, Washington. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is CALIFORNIA WATER SERVICE GROUP financially healthy?: CALIFORNIA WATER SERVICE GROUP scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

7 entities across 5 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-27 — see the exhibit.

Entity

Jurisdiction

Note

California Water Service Company

California

CWS Utility Services

California

New Mexico Water Service Company

New Mexico

Washington Water Service Company

Washington

Hawaii Water Service Company, Inc.

Hawaii

HWS Utility Services LLC

Hawaii

TWSC, Inc.

Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

4 / 8

PASSReturn on assets positiveROA 2.3%
PASSOperating cash flow positiveOCF 303M
FAILReturn on assets improving3.7% → 2.3%
PASSCash flow exceeds earningsOCF 303M vs NI 128M
FAILLong-term debt ratio falling21.3% → 26.0% of assets
PASSCurrent ratio improving0.60 → 0.85
FAILNo share dilution59M → 60M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.17× → 0.17×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$697.6M

$96.8M

—

49,274,000

FY2021

$765.7M

$101.1M

—

51,633,000

FY2022

$772.6M

$96.0M

—

54,363,000

FY2023

$790.3M

$51.9M

—

56,983,000

FY2024

$905.6M

$190.8M

—

58,647,000

FY2025

$963.7M

$128.2M

—

59,633,000

Questions about CALIFORNIA WATER SERVICE GROUP

How many subsidiaries does CALIFORNIA WATER SERVICE GROUP file with the SEC?

7, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by California, New Mexico, Washington. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is CALIFORNIA WATER SERVICE GROUP financially healthy?

CALIFORNIA WATER SERVICE GROUP scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.