York Water
YORWActiveCIK 108985 · Water Utilities
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, YORW filings, SEC EDGAR
$480
Market cap ($MM)
$718
Enterprise value ($MM)
$78
Revenue · LTM ($MM)
$34
EBITDA · LTM ($MM)
44%
EBITDA margin
9.3x
EV / revenue
21.4x
EV / EBITDA
7.0x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01YORW is a scaled public consolidator in Water Utilities, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is AWK, PCYO, WTRG, CWCO, CDZI, ARTNA.
Balance sheet & capacity
Indicative capacity read: 7.0x net debt / EBITDA with EBITDA of $33.8MM.
$0
Cash & equiv. ($MM)
$237
Total debt ($MM)
$237
Net debt ($MM)
7.0x
Net debt / EBITDA
Valuation
Where it trades against its peer set
YORW versus the scaled public Water Utilities comparables.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| York Water Co. | YORW | $78 | $34 | 44% | $480 | $718 | 9.3x | 21.4x | 7.0x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
YORW's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
119
Active years
16
Named deals
10
Avg / active year
7.4
Acq. cash outflow ($MM)
N/A
Annual acquisition count
named acquisitionYORW cadence shown by annual acquisition count because verified spend is N/A.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Dec 31, 2017 | West York Borough wastewater acquisition | Water utilities | $0 | Operating revenues for the year increased $1,005, or 2.1%, from $47,584 for 2016 to $48,589 for 2017. The primary reasons for the increase were $899 of revenues from the DSIC an... | 10-K† |
| Aug 25, 2022 | Letterkenny Industrial Development Authority and Franklin County General Authority water and wastewater assets acquisition | Water utilities | $2,818 | On August 25, 2022, the Company completed the acquisition of the water assets and wastewater collection and treatment assets jointly owned by Letterkenny Industrial Development... | 10-K† |
| Jan 9, 2009 | West Manheim Township water system | Water utilities | $2,075 | On January 9, 2009, the Company completed the acquisition of the water system of West Manheim Township in York County, Pennsylvania. The Company had begun serving the customers... | 10-K† |
| Oct 12, 2023 | Conewago Industrial Park Water and Sewer Company | Water utilities | $590 | On October 12, 2023, the Company completed the acquisition of the water assets and wastewater collection and treatment assets of Conewago Industrial Park Water and Sewer Company... | 10-K† |
| Oct 12, 2023 | Conewago Industrial Park Water and Sewer Company | Water utilities | $590 | On October 12, 2023, the Company completed the acquisition of the water assets and wastewater collection and treatment assets of Conewago Industrial Park Water and Sewer Company... | 10-K† |
| Dec 1, 2022 | SYC WWTP, L.P. and Albright Trailer Park wastewater assets acquisition | Water utilities | $516 | On December 1, 2022, the Company completed the acquisition of the wastewater collection and treatment assets of SYC WWTP, L.P. and the Albright Trailer Park of R.T. Barclay, Inc... | 10-K† |
| Feb 23, 2017 | Acquisition of wastewater collection assets of West York Borough | Water utilities | $448 | On February 23, 2017, the Company completed the acquisition of the wastewater collection assets of West York Borough in York County, Pennsylvania. The Company began operating th... | 10-K† |
| Feb 23, 2017 | West York Borough wastewater collection assets acquisition | Water utilities | $448 | On February 23, 2017, the Company completed the acquisition of the wastewater collection assets of West York Borough in York County, Pennsylvania. The Company began operating th... | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 16 SEC-backed facts across 7 cited filings.
Strategy
In management's own words
The acquisition thesis as management frames it in its filings and why each line matters.
| Theme | Excerpt | Why it matters | Source |
|---|---|---|---|
| Management language | N/A | N/A until a source excerpt is available. | N/A |
Excerpts drawn from SEC filings; the right-hand read turns each into a coverage talking point.
Evidence
Source ledger
Every figure above traces to a dated SEC filing.
| Claim | Excerpt | Source type | Filing date | Evidence | Source |
|---|---|---|---|---|---|
| West York Borough wastewater acquisition | Operating revenues for the year increased $1,005, or 2.1%, from $47,584 for 2016 to $48,589 for 2017. The primary reasons for the increase were $899 of revenues from the DSIC and $626 from the rece... | 10-K | Mar 6, 2018 | Medium | SEC source |
| Letterkenny Industrial Development Authority and Franklin County General Authority water and wastewater assets acquisition | On August 25, 2022, the Company completed the acquisition of the water assets and wastewater collection and treatment assets jointly owned by Letterkenny Industrial Development Authority and Frankl... | 10-K | Mar 5, 2024 | Medium | SEC source |
| West Manheim Township water system | On January 9, 2009, the Company completed the acquisition of the water system of West Manheim Township in York County, Pennsylvania. The Company had begun serving the customers of West Manheim Town... | 10-K | Mar 12, 2012 | Medium | SEC source |
| Conewago Industrial Park Water and Sewer Company water and wastewater assets | On October 12, 2023, the Company completed the acquisition of the water assets and wastewater collection and treatment assets of Conewago Industrial Park Water and Sewer Company in Lancaster County... | 10-K | Mar 4, 2025 | Medium | SEC source |
| Conewago Industrial Park Water and Sewer Company water and wastewater assets acquisition | On October 12, 2023, the Company completed the acquisition of the water assets and wastewater collection and treatment assets of Conewago Industrial Park Water and Sewer Company in Lancaster County... | 10-K | Mar 5, 2024 | Medium | SEC source |
| SYC WWTP, L.P. and Albright Trailer Park wastewater assets acquisition | On December 1, 2022, the Company completed the acquisition of the wastewater collection and treatment assets of SYC WWTP, L.P. and the Albright Trailer Park of R.T. Barclay, Inc. in Shrewsbury and ... | 10-K | Mar 5, 2024 | Medium | SEC source |