Loading…
Consolidated Water Co. Ltd., together with its subsidiaries, supplies potable water, treats wastewater and water for reuse, and provides water-related products and services in the Cayman Islands, the Bahamas, the United States, and the British Virgin Islands. It operates through Retail, Bulk, Services, and Manufacturing segments. The company produces potable water from seawater utilizing reverse osmosis technology and supplies water to end-users, including residential, commercial, and government customers, as well as government-owned utilities. It is also involved in design, construction, and sale of water production and treatment plants, as well as management and operation of water production plants, and treatment and reuse infrastructure for third parties; provision of water related consulting services; and production and supply of bulk water. In addition, the company manufactures and services a range of specialized and custom water-related products and systems applicable to commercial, municipal, and industrial water production, supply, and treatment; reverse osmosis desalination, membrane separation, and filtration equipment; and piping systems, vessels, and custom-fabricated components. Consolidated Water Co. Ltd. was incorporated in 1973 and is headquartered in Grand Cayman, the Cayman Islands.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $132M | $29M | $18M | $33M | 8.3% | -1.4% | -35.1% |
| 2024 | $134M | $28M | $28M | $30M | 13.5% | -25.7% | -4.6% |
| 2023 | $180M | $46M | $30M | $3M | 15.8% | 91.5% | 405.2% |
| 2022 | $94M | $16M | $6M | $14M | 3.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 94.10 | 180.21 | 133.97 | 132.07 |
| Operating Revenue | - | 94.10 | 180.21 | 133.97 | 132.07 |
| Cost Of Revenue | - | 63.75 | 118.28 | 88.34 | 83.69 |
| Gross Profit | - | 30.36 | 61.93 | 45.62 | 48.38 |
| Operating Expense | - | 21.07 | 24.75 | 27.54 | 30.12 |
| Research And Development | - | 0.40 | 0.58 | - | - |
| Selling General And Administration | - | 20.32 | 23.99 | 26.67 | 29.30 |
| Total Expenses | - | 84.82 | 143.04 | 115.88 | 113.81 |
| Operating Income | - | 9.28 | 37.17 | 18.09 | 18.26 |
| Total Operating Income As Reported | - | 9.27 | 37.17 | 18.28 | 18.36 |
| EBITDA | - | 15.97 | 45.59 | 28.09 | 29.01 |
| Normalized EBITDA | - | 16.11 | 45.59 | 27.89 | 28.91 |
| EBIT | - | 9.78 | 38.14 | 20.78 | 21.39 |
| Interest Income | - | 0.45 | 0.70 | 2.09 | 2.67 |
| Interest Expense | - | 0.05 | 0.15 | 0.10 | 0 |
| Net Interest Income | - | 0.40 | 0.55 | 1.99 | 2.67 |
| Other Non Operating Income Expenses | - | 0.09 | 0.11 | 0.13 | 0.13 |
| Other Income Expense | - | 0.05 | 0.27 | 0.60 | 0.46 |
| Interest Income Non Operating | - | 0.45 | 0.70 | 2.09 | 2.67 |
| Interest Expense Non Operating | - | 0.05 | 0.15 | 0.10 | 0 |
| Net Non Operating Interest Income Expense | - | 0.40 | 0.55 | 1.99 | 2.67 |
| Pretax Income | - | 9.74 | 38 | 20.68 | 21.39 |
| Tax Provision | - | 0.40 | 6.75 | 2.22 | 2.16 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.01 | 0 | 0.02 | 0.01 |
| Net Income Continuous Operations | - | 9.34 | 31.25 | 18.46 | 19.22 |
| Net Income From Continuing And Discontinued Operation | - | 5.86 | 29.59 | 28.24 | 18.34 |
| Net Income From Continuing Operation Net Minority Interest | - | 8.23 | 30.67 | 17.88 | 18.63 |
| Net Income | - | 5.86 | 29.59 | 28.24 | 18.34 |
| Net Income Common Stockholders | - | 5.84 | 29.57 | 28.22 | 18.31 |
| Net Income Including Noncontrolling Interests | - | 6.97 | 30.16 | 28.82 | 18.93 |
| Normalized Income | - | 8.36 | 30.68 | 17.71 | 18.54 |
| Diluted NI Availto Com Stockholders | - | 5.84 | 29.57 | 28.22 | 18.31 |
| Basic Average Shares | - | 15.29 | 15.74 | 15.83 | 15.92 |
| Diluted Average Shares | - | 15.40 | 15.87 | 15.94 | 16.01 |
| Reconciled Depreciation | - | 6.19 | 7.44 | 7.31 | 7.62 |
| Reconciled Cost Of Revenue | - | 58.31 | 111.60 | 81.90 | 76.89 |
| Total Unusual Items | - | -0.14 | -0.01 | 0.20 | 0.10 |
| Total Unusual Items Excluding Goodwill | - | -0.14 | -0.01 | 0.20 | 0.10 |
| Preferred Stock Dividends | - | 0.01 | 0.02 | 0.02 | 0.02 |
| Minority Interests | - | -1.11 | -0.57 | -0.58 | -0.59 |
| Net Income Discontinuous Operations | - | -2.37 | -1.09 | 10.36 | -0.29 |
| Special Income Charges | - | -0.01 | -0.01 | 0.20 | 0.10 |
| Gain On Sale Of Security | 0.82 | -0.13 | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 0.75 | 0.76 | 0.87 | 0.81 |
| Depreciation And Amortization In Income Statement | - | 0.75 | 0.76 | 0.87 | 0.81 |
| General And Administrative Expense | - | 20.32 | 23.99 | 26.67 | 29.30 |
| Other Gand A | - | 7.35 | 8.39 | 9.91 | 11.23 |
| Salaries And Wages | - | 11.21 | 13.69 | 14.69 | 15.96 |
| Gain On Sale Of Ppe | - | -0.01 | -0.01 | 0.20 | 0.10 |
| Insurance And Claims | - | 1.76 | 1.90 | 2.07 | 2.12 |
| Rent Expense Supplemental | 0.74 | 0.79 | 0.88 | - | - |
| Total Other Finance Cost | - | 0.49 | 0.34 | - | - |
| Provision For Doubtful Accounts | - | 0 | 0.41 | - | - |
| Rent And Landing Fees | 0.74 | 0.79 | 0.88 | - | - |
| Earnings From Equity Interest | - | 0.10 | 0.17 | 0.27 | 0.23 |
| Amortization | 0.75 | 0.58 | 0.57 | - | - |
| Amortization Of Intangibles Income Statement | 0.75 | 0.58 | 0.57 | - | - |
| Depreciation Income Statement | 0.14 | 0.16 | 0.19 | - | - |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Consolidated Water Co. Ltd.this co. | CWCO | $481M | 26.23↑ premium | 2.17 | 8.3% | 12.42 |
| The York Water Company | YORW | $480M | 23.92 | 2.00 | 8.3% | 16.28 |
| OPAL Fuels Inc. | OPAL | $404M | 27.36 | -31.22 | -114.1% | 21.25 |
| Cadiz Inc. | CDZI | $383M | -11.23 | 16.49 | -146.9% | -20.46 |
| Genie Energy Ltd. | GNE | $365M |
| - |
| - |
| - |
| - |
| - |
| - |
| 15.20 |
| 1.45 |
| 9.6% |
| 4.50 |
| Pure Cycle Corporation | PCYO | $249M | 18.97 | 1.74 | 9.2% | 11.57 |
| RGC Resources, Inc. | RGCO | $233M | 17.55 | 2.05 | 11.7% | 10.73 |
| Global Water Resources, Inc. | GWRS | $210M | 71.03 | 2.43 | 3.4% | 13.81 |
| XCF Global, Inc. | SAFX | $146M | 1.98 | 3.89 | 196.5% | 3.23 |
| Peer Median | - | 18.26 | 2.02 | 8.8% | 11.15 | |