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TickerAWR
SectorRegulated Water
Mkt cap$3B
EV / EBITDA15.3×
PostureHigh Velocity
Composite78/100
LensBuyer-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1056903

American States Water Co

AWRHIGH VELOCITYFILING INTENSITY

American States Water Co reads as an High Velocity (composite 78/100); selective buyer deploying $0 across 0 disclosed transactions, running flat vs the prior cycle · primary market Energy Infrastructure.

Lens

Disclosed M&A capital (2023–2025)

N/A

flat

vs N/A in 2020–2022

Disclosed transactions

N/A

flat

0/3 active fiscal years in window

Buyer archetype

N/A

Insufficient acquisition disclosure for archetype classification.

Composite score

78

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$679M
EBITDA$257M
Enterprise value$3.9B
EV / Revenue5.8×
EV / EBITDA15.3×
P/EN/A
Cash$22M
Total debt$783M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

10/100

Companies actively deploying disclosed capital into M&A

  • Filed within 20d

Buyer Cadence

40/100

Buyer-side companies with recent filing activity

  • Filed within 20d
  • 304 8-Ks

Target Probability

8/100

Issuers showing target-side patterns from filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

Pressure Watch

17/100

Issuers facing activism, governance, or control pressure

Distress Watch

0/100

Issuers showing financial-distress filing patterns

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
78/100

Issuers with the highest filing-activity intensity

  • 304 8-Ks
  • Filed within 20d
  • 4 form types

Quiet Power

54/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $3.9B
  • 10-Q 20d ago
  • Quiet signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

No disclosed M&A capital in the 10-year window.

This issuer has not disclosed material acquisition spend or count in the last ten fiscal years.

§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Energy Infrastructure

Market spend (2023–2025)
$86.6B
Market spend (2020–2022)
$40.3B
Recent vs prior
+115%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

15.3×EV / EBITDA

AWR trades at a +1.1-turn premium to the Energy Infrastructure peer median of 14.1×.

EV / Revenue
5.8×
Net debt / EBITDA
3.0×
Peer median EV / EBITDA
14.1×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
American States Water CoAWR
15.3×5.8×3.0×$679MN/A
14.4×7.7×5.1×$5.2BN/A
14.4×7.0×3.9×$199MN/A
14.1×7.4×6.2×$2.6B$103M
13.0×4.2×5.1×$1BN/A
12.2×4.6×5.6×$816M$547M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Energy Infrastructure. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Target landscape.

Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.

No qualifying public-issuer targets surfaced from the current signal mix.

Stated target categories

No target categories enumerated in the audited corpus for this issuer.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)302026-02-18
  • 10-Q (quarterly)862026-05-06
  • 8-K (event)3042026-05-06
  • Proxy / DEF 14A462026-04-13
  • Activism (13D / DFAN / PREC)0N/A

Signals on file

Clean signal stream: no restatement, NT, spin / carve, or activism filings on file.

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

American States Water Co: Issuer Brief | SE-Cluster