How H2O America uses its cash

Period

FY2025

Where does H2O America's cash go? This Sankey traces cash from net income through operating cash flow into capex, free cash flow, dividends, buybacks, and debt paydown. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

H2O America · FY2025 · year ended 2025-12-31

Operating cash flow$245MNet income$103M · 42%D&A$120M · 49%Stock comp$6M · 3%Working capital$15M · 6%Free cash flow$245M · 100%Dividends$59M · 24%Cash retained$186M · 76%

Each fiscal year from SEC filings. Percentages are share of operating cash flow. Sources (net income + non-cash add-backs) flow into operating cash flow, which splits into capex and free cash flow; free cash flow goes to dividends, buybacks, debt paydown, and what's retained. Annual only. For informational purposes only.