Global Water Resources, Inc.

GWRS

UtilitiesSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Global Water Resources, Inc., a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems in metropolitan Phoenix and Tucson, Arizona. It serves approximately 121,000 people in approximately 40,000 homes. Global Water Resources, Inc. was founded in 2003 and is based in Phoenix, Arizona.

Valuation

Market Cap$207M

Current Price$7.20

P/E Ratio65.45

P/B Ratio2.39

EV / EBITDA15.40

EV / Sales6.12

Profitability

Operating Margin-

Net Profit Margin5.3%

EBITDA Margin44.7%

Returns

ROE3.4%

ROCE-

ROIC %3.3%

ROA0.6%

Solvency

Current Ratio0.76

Debt / Equity1.60

Debt / Assets0.29

CFO / Net Profit6.82

Price History▼ 31.43% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$56M▲ 5.8%

EBITDA$25M

Net Profit$3M▼ 48.9%

Cash from Ops (CFO)$20M

Free Cash Flow (FCF)$-47M

Revenue CAGR 3Y-

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

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	$56M	$25M	$3M	$-47M	3.4%	5.8%	-48.9%
2024	$53M	$27M	$6M	$-11M	12.2%	-0.6%	-27.5%
2023	$53M	$27M	$8M	$3M	16.4%	18.6%	45.0%
2022	$45M	$21M	$6M	$-11M	12.4%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	44.73	53.03	52.69	55.76
Cost Of Revenue	10.89	12.67	13.73	15.75
Gross Profit	33.84	40.36	38.97	40.01
Operating Expense	26.02	28.07	29.60	32.85
Operating Income	7.82	12.29	9.36	7.16
EBITDA	21.27	27.50	26.68	24.95
EBIT	11.20	15.74	13.96	9.95
Pretax Income	6.44	10.85	7.86	3.98
Tax Provision	0.93	2.87	2.07	1.03
Net Income	5.51	7.98	5.79	2.96
Net Income Common Stockholders	5.51	7.98	5.79	2.96
Total Expenses	36.91	40.74	43.33	48.60
Interest Expense	4.76	4.88	6.10	5.96
Interest Income	0.07	0.05	0.95	0.45
Selling General And Administration	16.13	16.64	16.88	17.86
Normalized EBITDA	20.55	26.45	26.10	25.04
Normalized Income	4.89	7.21	5.36	3.03
Basic EPS	0.24	0.33	0.24	0.11
Diluted EPS	0.24	0.33	0.24	0.11
Tax Effect Of Unusual Items	0.10	0.28	0.15	-0.02
Tax Rate For Calcs	0.14	0.27	0.26	0.26
Total Unusual Items	0.72	1.04	0.58	-0.10
Total Unusual Items Excluding Goodwill	0.72	1.04	0.58	-0.10
Net Income From Continuing Operation Net Minority Interest	5.51	7.98	5.79	2.96
Reconciled Depreciation	10.07	11.76	12.72	15
Reconciled Cost Of Revenue	10.71	12.35	13.73	15.75
Net Interest Income	-4.69	-4.83	-5.15	-5.52
Net Income From Continuing And Discontinued Operation	5.51	7.98	5.79	2.96
Total Operating Income As Reported	7.82	12.29	9.36	7.16
Diluted Average Shares	23.33	24.13	24.30	27.08
Basic Average Shares	23.17	24.04	24.20	27.03
Diluted NI Availto Com Stockholders	5.51	7.98	5.79	2.96
Net Income Including Noncontrolling Interests	5.51	7.98	5.79	2.96
Net Income Continuous Operations	5.51	7.98	5.79	2.96
Other Income Expense	3.31	3.40	3.65	2.35
Other Non Operating Income Expenses	2.59	2.35	3.07	2.44
Special Income Charges	0.72	1.04	0.58	-0.10
Gain On Sale Of Ppe	0	0.06	-0.31	-1.25
Other Special Charges	-0.72	-0.98	-0.89	-1.16
Net Non Operating Interest Income Expense	-4.69	-4.83	-5.15	-5.52
Interest Expense Non Operating	4.76	4.88	6.10	5.96
Interest Income Non Operating	0.07	0.05	0.95	0.45
Depreciation Amortization Depletion Income Statement	9.89	11.44	12.72	15
Depreciation And Amortization In Income Statement	9.89	11.44	12.72	15
General And Administrative Expense	16.13	16.64	16.88	17.86
Other Gand A	16.13	16.64	16.88	17.86
Operating Revenue	44.73	53.03	52.69	55.76

Peer Comparison

Utilities sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Global Water Resources, Inc.this co.	GWRS	$207M	65.45↑ premium	2.39	3.4%	15.40
The York Water Company	YORW	$471M	20.94	1.75	8.3%	15.38
Genie Energy Ltd.	GNE	$365M	47.17	1.83	7.0%	7.37
OPAL Fuels Inc.	OPAL	$363M	13.87	-4.66	3.0%	39.72
Cadiz Inc.	CDZI	$350M

Learn while you research

Hand-picked academy chapters to deepen your understanding of Global Water Resources, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$56M

$25M

$3M

$-47M

3.4%

5.8%

-48.9%

2024

$53M

$27M

$6M

$-11M

12.2%

-0.6%

-27.5%

2023

$53M

$27M

$8M

$3M

16.4%

18.6%

45.0%

2022

$45M

$21M

$6M

$-11M

12.4%

Metric

2022

2023

2024

2025

Total Revenue

44.73

53.03

52.69

55.76

Cost Of Revenue

10.89

12.67

13.73

15.75

Gross Profit

33.84

40.36

38.97

40.01

Operating Expense

26.02

28.07

29.60

32.85

Operating Income

7.82

12.29

9.36

7.16

EBITDA

21.27

27.50

26.68

24.95

EBIT

11.20

15.74

13.96

9.95

Pretax Income

6.44

10.85

7.86

3.98

Tax Provision

0.93

2.87

2.07

1.03

Net Income

5.51

7.98

5.79

2.96

Net Income Common Stockholders

5.51

7.98

5.79

2.96

Total Expenses

36.91

40.74

43.33

48.60

Interest Expense

4.76

4.88

6.10

5.96

Interest Income

0.07

0.05

0.95

0.45

Selling General And Administration

16.13

16.64

16.88

17.86

Normalized EBITDA

20.55

26.45

26.10

25.04

Normalized Income

4.89

7.21

5.36

3.03

Basic EPS

0.24

0.33

0.24

0.11

Diluted EPS

0.24

0.33

0.24

0.11

Tax Effect Of Unusual Items

0.10

0.28

0.15

-0.02

Tax Rate For Calcs

0.14

0.27

0.26

Total Unusual Items

0.72

1.04

0.58

-0.10

Total Unusual Items Excluding Goodwill

0.72

1.04

0.58

-0.10

Net Income From Continuing Operation Net Minority Interest

5.51

7.98

5.79

2.96

Reconciled Depreciation

10.07

11.76

12.72

Reconciled Cost Of Revenue

10.71

12.35

13.73

15.75

Net Interest Income

-4.69

-4.83

-5.15

-5.52

Net Income From Continuing And Discontinued Operation

5.51

7.98

5.79

2.96

Total Operating Income As Reported

7.82

12.29

9.36

7.16

Diluted Average Shares

23.33

24.13

24.30

27.08

Basic Average Shares

23.17

24.04

24.20

27.03

Diluted NI Availto Com Stockholders

5.51

7.98

5.79

2.96

Net Income Including Noncontrolling Interests

5.51

7.98

5.79

2.96

Net Income Continuous Operations

5.51

7.98

5.79

2.96

Other Income Expense

3.31

3.40

3.65

2.35

Other Non Operating Income Expenses

2.59

2.35

3.07

2.44

Special Income Charges

0.72

1.04

0.58

-0.10

Gain On Sale Of Ppe

0.06

-0.31

-1.25

Other Special Charges

-0.72

-0.98

-0.89

-1.16

Net Non Operating Interest Income Expense

-4.69

-4.83

-5.15

-5.52

Interest Expense Non Operating

4.76

4.88

6.10

5.96

Interest Income Non Operating

0.07

0.05

0.95

0.45

Depreciation Amortization Depletion Income Statement

9.89

11.44

12.72

Depreciation And Amortization In Income Statement

9.89

11.44

12.72

General And Administrative Expense

16.13

16.64

16.88

17.86

Other Gand A

16.13

16.64

16.88

17.86

Operating Revenue

44.73

53.03

52.69

55.76

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Global Water Resources, Inc.this co.

GWRS

$207M

65.45↑ premium

2.39

3.4%

15.40

The York Water Company

YORW

$471M

20.94

1.75

8.3%

15.38

Genie Energy Ltd.

GNE

$365M

47.17

1.83

7.0%

7.37

OPAL Fuels Inc.

OPAL

$363M

13.87

-4.66

3.0%

39.72

Cadiz Inc.

CDZI

$350M

Global Water Resources, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Global Water Resources, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on