Latest Ratios: P/E Ratio 21.9x · EV/EBITDA 16.0x · ROE 8.5%. (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 | $440M | $459M | $470M | $552M | $628M | $651M | $607M | $598M | $414M | $436M | $491M |
| Enterprise Value | $672M | $691M | $675M | $732M | $767M | $797M | $731M | $699M | $508M | $527M | $571M |
| P/E Ratio → | 21.95 | 22.91 | 23.04 | 23.27 | 32.13 | 38.29 | 36.69 | 41.54 | 30.83 | 33.56 | 41.52 |
| P/S Ratio | 5.67 | 5.92 | 6.27 | 7.77 | 10.45 | 11.81 | 11.28 | 11.59 | 8.54 | 8.96 | 10.31 |
| P/B Ratio | 1.83 | 1.91 | 2.03 | 2.50 | 3.03 | 4.27 | 4.24 | 4.46 | 3.28 | 3.65 | 4.30 |
| P/FCF | — | — | — | — | — | — | — | — | 277.65 | — | 79.70 |
| P/OCF | 14.73 | 15.37 | 15.37 | 17.30 | 28.52 | 28.35 | 30.02 | 31.67 | 22.52 | 21.66 | 25.34 |
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 | — | 8.92 | 9.01 | 10.31 | 12.78 | 14.47 | 13.57 | 13.55 | 10.49 | 10.84 | 12.00 |
| EV / EBITDA | 16.02 | 16.48 | 16.47 | 17.74 | 22.16 | 24.72 | 22.42 | 22.21 | 17.21 | 18.01 | 19.49 |
| EV / EBIT | 24.25 | 35.92 | 21.90 | 22.82 | 29.98 | 35.19 | 31.69 | 32.11 | 23.77 | 23.04 | 25.36 |
| EV / FCF | — | — | — | — | — | — | — | — | 340.98 | — | 92.77 |
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 | 54.8% | 54.8% | 73.8% | 75.6% | 76.5% | 78.6% | 80.0% | 79.9% | 80.0% | 81.7% | 83.1% |
| Operating Margin | 35.8% | 35.8% | 37.4% | 41.6% | 40.8% | 42.4% | 45.4% | 46.1% | 46.5% | 46.3% | 48.1% |
| Net Profit Margin | 25.9% | 25.9% | 27.1% | 33.4% | 32.6% | 30.8% | 30.8% | 27.9% | 27.6% | 26.7% | 24.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.5% | 8.5% | 9.0% | 11.1% | 10.9% | 11.5% | 12.0% | 11.1% | 10.9% | 11.1% | 10.6% |
| ROA | 3.1% | 3.1% | 3.3% | 4.3% | 4.0% | 3.9% | 4.3% | 4.1% | 4.0% | 4.0% | 3.7% |
| ROIC | 4.6% | 4.6% | 5.0% | 5.9% | 5.7% | 6.2% | 7.3% | 7.8% | 7.8% | 8.3% | 8.8% |
| ROCE | 4.4% | 4.4% | 4.7% | 5.6% | 5.3% | 5.6% | 6.6% | 7.0% | 6.9% | 7.1% | 7.4% |
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 | 0.97 | 0.97 | 0.89 | 0.81 | 0.67 | 0.96 | 0.86 | 0.75 | 0.75 | 0.76 | 0.74 |
| Debt / EBITDA | 5.54 | 5.54 | 5.01 | 4.36 | 4.03 | 4.54 | 3.79 | 3.21 | 3.20 | 3.12 | 2.89 |
| Net Debt / Equity | — | 0.97 | 0.89 | 0.81 | 0.67 | 0.96 | 0.86 | 0.75 | 0.75 | 0.76 | 0.71 |
| Net Debt / EBITDA | 5.54 | 5.54 | 5.01 | 4.36 | 4.03 | 4.54 | 3.79 | 3.21 | 3.20 | 3.12 | 2.74 |
| Debt / FCF | — | — | — | — | — | — | — | — | 63.33 | — | 13.07 |
| Interest Coverage | 1.92 | 1.92 | 3.46 | 4.55 | 5.00 | 4.60 | 4.90 | 4.25 | 3.88 | 4.28 | 4.28 |
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 | — | — | 0.90 | 0.86 | 0.84 | 0.56 | 1.36 | 0.62 | 0.83 | 0.94 | 1.54 |
| Quick Ratio | -0.12 | -0.12 | 0.71 | 0.69 | 0.70 | 0.47 | 1.27 | 0.55 | 0.75 | 0.84 | 1.45 |
| Cash Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.51 |
| Asset Turnover | — | 0.11 | 0.12 | 0.12 | 0.12 | 0.12 | 0.13 | 0.14 | 0.14 | 0.15 | 0.15 |
| Inventory Turnover | 10.43 | 10.43 | 5.76 | 5.58 | 6.05 | 6.17 | 10.67 | 10.31 | 11.04 | 9.81 | 10.77 |
| 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 | 2.9% | 2.8% | 2.6% | 2.1% | 1.7% | 1.5% | 1.5% | 1.5% | 2.1% | 1.9% | 1.6% |
| Payout Ratio | 62.9% | 62.9% | 59.5% | 48.8% | 54.5% | 57.7% | 56.6% | 62.4% | 64.2% | 63.4% | 67.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 4.4% | 4.3% | 4.3% | 3.1% | 2.6% | 2.7% | 2.4% | 3.2% | 3.0% | 2.4% |
| FCF Yield | — | — | — | — | — | — | — | — | 0.4% | — | 1.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 0.3% |
| Total Shareholder Yield | 2.9% | 2.8% | 2.6% | 2.1% | 1.7% | 1.5% | 1.5% | 1.5% | 2.1% | 2.2% | 1.9% |
| Shares Outstanding | — | $14M | $14M | $14M | $14M | $13M | $13M | $13M | $13M | $13M | $13M |
Regulatory lag and liquidity
According to current market data, YORW trades at a forward P/E of 19.23, which appears to command a valuation premium over peers, likely driven by its 200-year dividend streak rather than immediate earnings growth, as indicated by the elevated forward PEG ratio of 10.55.
The market appears to treat YORW as a defensive bond proxy, prioritizing the reliability of its dividend over the underlying growth of its rate base. Investors should monitor whether this premium remains sustainable if rising interest rates continue to compress the yield spread between the utility's dividend and risk-free Treasury alternatives.
Based on reported quarterly figures, the company's ROE has fluctuated between 1.6% and 2.7% over the last ten quarters, which suggests a significant gap between actual performance and the typical authorized ROE levels expected for a regulated water utility in the Pennsylvania jurisdiction.
This persistent under-earning relative to standard regulatory benchmarks may indicate that the company is experiencing significant regulatory lag, where the timing of capital investments in infrastructure like the Lake Williams dam precedes the PUC's approval of rate increases. This warrants further investigation into the effectiveness of the Distribution System Improvement Charge in mitigating these earnings shortfalls.
As reported in financial statements, the debt-to-capital ratio has trended toward 0.49, while the near-zero cash balance of $1,000 suggests an aggressive liquidity management strategy that relies heavily on external financing to support ongoing capital expenditure requirements and dividend payments.
The reliance on external debt markets to fund infrastructure expansion, combined with minimal cash reserves, leaves the company vulnerable to shifts in credit market conditions. Investors should monitor the company's interest coverage ratios, which have shown volatility, to ensure that the debt service burden does not compromise the long-term stability of the dividend.
According to recent quarterly filings, the dividend payout ratio has fluctuated significantly, reaching as high as 86.5% in 2025Q1, which highlights the tension between maintaining a historic dividend streak and funding the substantial capital expenditure program required for system maintenance and regulatory compliance.
While the dividend remains a core component of the investment thesis, the high payout ratio suggests that internal cash generation is insufficient to cover both the dividend and the necessary infrastructure investment. This implies that the dividend is effectively being supported by external financing, which warrants caution regarding the long-term sustainability of the payout if regulatory rate recovery is delayed.
As indicated by the company's forward PEG ratio of 10.55, the standard P/E multiple is frequently misapplied to YORW, as it fails to account for the non-cash nature of AFUDC and the regulatory-driven timing of earnings that often obscure the underlying cash-generating capacity of the utility.
Investors should prioritize cash-flow-based metrics, such as the ratio of operating cash flow to capital expenditures, rather than relying on P/E multiples which are heavily influenced by accounting adjustments. Using P/E to compare YORW against non-regulated industrials ignores the fundamental reality that earnings are a function of the regulatory rate base rather than competitive market growth.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying YORW stock.
The York Water Company's current P/E ratio is 21.9x. The historical average is 27.6x. This places it at the 20th percentile of its historical range.
The York Water Company's current EV/EBITDA is 16.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.1x.
The York Water Company's return on equity (ROE) is 8.5%. The historical average is 10.7%.
Based on historical data, The York Water Company is trading at a P/E of 21.9x. This is at the 20th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The York Water Company's current dividend yield is 2.87% with a payout ratio of 62.9%.
The York Water Company has 54.8% gross margin and 35.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
The York Water Company's Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.