Latest Ratios: P/E Ratio 25.1x · EV/EBITDA 13.1x · ROE 8.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $459M | $565M | $413M | $565M | $228M | $163M | $183M | $247M | $176M | $189M | $162M |
| Enterprise Value | $338M | $444M | $317M | $525M | $180M | $125M | $141M | $209M | $144M | $143M | $123M |
| P/E Ratio → | 25.15 | 30.96 | 14.63 | 19.14 | 38.95 | 177.33 | 19.75 | 29.11 | 15.55 | 30.73 | 40.19 |
| P/S Ratio | 3.47 | 4.28 | 3.08 | 3.13 | 2.42 | 2.44 | 2.53 | 3.59 | 2.67 | 3.03 | 2.80 |
| P/B Ratio | 2.02 | 2.49 | 1.92 | 2.94 | 1.36 | 0.98 | 1.09 | 1.39 | 1.07 | 1.21 | 1.05 |
| P/FCF | 13.83 | 17.03 | 6.50 | — | 16.53 | 53.91 | 29.56 | 21.13 | — | 20.85 | 37.18 |
| P/OCF | 11.00 | 13.54 | 11.30 | 70.86 | 10.69 | 23.38 | 10.58 | 16.23 | 19.43 | 13.86 | 20.73 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.36 | 2.36 | 2.91 | 1.91 | 1.88 | 1.94 | 3.03 | 2.20 | 2.29 | 2.13 |
| EV / EBITDA | 13.06 | 17.16 | 12.68 | 12.00 | 11.61 | 14.05 | 8.97 | 11.02 | 9.62 | 14.91 | 13.15 |
| EV / EBIT | 18.51 | 24.32 | 15.24 | 13.76 | 18.37 | 34.43 | 14.96 | 16.67 | 13.47 | 37.44 | 65.56 |
| EV / FCF | — | 13.39 | 4.99 | — | 13.03 | 41.53 | 22.76 | 17.86 | — | 15.72 | 28.29 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.0% | 36.0% | 34.1% | 34.4% | 32.3% | 35.2% | 36.9% | 41.1% | 40.7% | 40.8% | 41.9% |
| Operating Margin | 13.8% | 13.8% | 13.6% | 20.6% | 9.9% | 3.0% | 11.5% | 17.0% | 12.1% | 3.7% | 3.7% |
| Net Profit Margin | 13.9% | 13.9% | 21.1% | 16.4% | 6.2% | 1.3% | 5.1% | 17.7% | 17.2% | 9.9% | 6.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 8.3% | 13.9% | 16.5% | 3.5% | 0.5% | 2.1% | 7.1% | 7.1% | 4.0% | 2.6% |
| ROA | 7.3% | 7.3% | 12.2% | 14.4% | 3.2% | 0.5% | 2.0% | 6.7% | 6.7% | 3.7% | 2.4% |
| ROIC | 12.2% | 12.2% | 10.1% | 20.5% | 5.6% | 1.2% | 4.7% | 6.5% | 4.9% | 1.5% | 1.4% |
| ROCE | 8.1% | 8.1% | 8.9% | 20.4% | 5.5% | 1.2% | 4.7% | 6.7% | 4.9% | 1.4% | 1.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 | 0.01 | 0.03 | — | 0.00 | 0.00 |
| Debt / EBITDA | 0.12 | 0.12 | 0.14 | 0.06 | 0.16 | 0.33 | 0.10 | 0.25 | — | 0.07 | 0.05 |
| Net Debt / Equity | — | -0.53 | -0.45 | -0.21 | -0.29 | -0.23 | -0.25 | -0.21 | -0.19 | -0.30 | -0.25 |
| Net Debt / EBITDA | -4.67 | -4.67 | -3.84 | -0.91 | -3.12 | -4.19 | -2.68 | -2.02 | -2.09 | -4.86 | -4.13 |
| Debt / FCF | — | -3.64 | -1.51 | — | -3.50 | -12.38 | -6.80 | -3.27 | — | -5.13 | -8.89 |
| Interest Coverage | 4131.78 | 4131.78 | 204.03 | 262.53 | 210.20 | 355.66 | 976.33 | 9388.97 | 1272.65 | 559.52 | 18.09 |
Net cash position: cash ($124M) exceeds total debt ($3M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.12 | 6.12 | 6.33 | 4.72 | 4.09 | 10.03 | 10.51 | 9.30 | 7.89 | 8.74 | 9.11 |
| Quick Ratio | 5.99 | 5.99 | 5.97 | 4.46 | 3.83 | 9.70 | 10.05 | 8.88 | 7.61 | 8.51 | 8.77 |
| Cash Ratio | 4.47 | 4.47 | 3.98 | 1.78 | 2.24 | 5.58 | 6.31 | 5.43 | 3.97 | 6.18 | 5.88 |
| Asset Turnover | — | 0.51 | 0.55 | 0.83 | 0.49 | 0.38 | 0.40 | 0.36 | 0.38 | 0.38 | 0.35 |
| Inventory Turnover | 22.61 | 22.61 | 9.86 | 19.57 | 11.13 | 17.31 | 14.27 | 12.33 | 17.46 | 21.14 | 14.58 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.7% | 1.4% | 1.5% | 1.0% | 2.3% | 3.2% | 2.8% | 2.1% | 2.9% | 2.4% | 2.7% |
| Payout Ratio | 43.3% | 43.3% | 22.3% | 18.5% | 87.9% | 588.4% | 138.3% | 41.9% | 45.1% | 72.7% | 111.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.0% | 3.2% | 6.8% | 5.2% | 2.6% | 0.6% | 5.1% | 3.4% | 6.4% | 3.3% | 2.5% |
| FCF Yield | 7.2% | 5.9% | 15.4% | — | 6.0% | 1.9% | 3.4% | 4.7% | — | 4.8% | 2.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.7% | 1.4% | 1.5% | 1.0% | 2.3% | 3.2% | 2.8% | 2.1% | 2.9% | 2.4% | 2.7% |
| Shares Outstanding | — | $16M | $16M | $16M | $15M | $15M | $15M | $15M | $15M | $15M | $15M |
Regulatory license renewal uncertainty
According to recent market data, CWCO trades at a forward P/E of 31.71, which appears elevated relative to US-based water peers, suggesting that investors are pricing in growth optionality from the US services segment rather than relying solely on the core Caribbean utility's regulated earnings power.
The valuation premium warrants caution, as the P/E multiple is anchored to volatile project-based earnings rather than the predictable cash flows typical of regulated utilities. Investors should monitor whether the US expansion can generate sufficient scale to justify this multiple, as the current yield of 1.7% offers limited protection against potential regulatory resets in the Cayman retail business.
As reported in financial statements, CWCO maintains a near-zero debt-to-capital ratio of 0.01, reflecting a fortress balance sheet that, while providing immense safety, may indicate an inefficient use of capital given the lack of debt-funded growth in the company's regulated asset base.
The company's interest coverage ratio, which has reached extreme levels, confirms that debt service is not a material risk to the firm's solvency. However, this lack of leverage suggests that management is not utilizing the low-cost financing typically available to utilities to accelerate infrastructure investment, potentially limiting long-term ROE expansion.
Based on reported figures, the dividend payout ratio has fluctuated significantly, reaching 121% in 2024Q4, which indicates that shareholder distributions are periodically disconnected from the underlying operating cash flow generated by the company's lumpy project-based services and manufacturing segments.
While the company's cash reserves provide a buffer for dividend payments, the inconsistency in coverage ratios suggests that the dividend is not yet supported by a stable, recurring utility earnings stream. Investors should monitor the sustainability of these payouts if the services segment continues to experience the volatility inherent in large-scale construction projects.
As indicated by the company's unique business model, the P/E ratio is frequently misapplied to CWCO, as it fails to distinguish between the stable, regulated retail water business and the volatile, project-based revenue streams that characterize the company's services and manufacturing segments.
Applying a standard utility P/E multiple to CWCO obscures the reality that a significant portion of earnings is derived from non-regulated, lumpy construction contracts. Analysts should instead utilize a sum-of-the-parts valuation approach to separate the regulated utility's earnings power from the more speculative, growth-oriented services segment to avoid mispricing the firm's true risk profile.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CWCO stock.
Consolidated Water Co. Ltd.'s current P/E ratio is 25.1x. The historical average is 29.3x. This places it at the 60th percentile of its historical range.
Consolidated Water Co. Ltd.'s current EV/EBITDA is 13.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.6x.
Consolidated Water Co. Ltd.'s return on equity (ROE) is 8.3%. The historical average is 8.7%.
Based on historical data, Consolidated Water Co. Ltd. is trading at a P/E of 25.1x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Consolidated Water Co. Ltd.'s current dividend yield is 1.73% with a payout ratio of 43.3%.
Consolidated Water Co. Ltd. has 36.0% gross margin and 13.8% operating margin. Operating margin between 10-20% is typical for established companies.
Consolidated Water Co. Ltd.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.