HTO on Nasdaq

SJW Group

Logo: SJW Group, Public domain, via Wikimedia Commons4

H2O America (formerly known as SJW Group) ("SJW") is a water utility processing, distribution, wholesale and retail company based in San Jose, California. It serves 228,000 connections that serves over 1 million residents in regions of California, and approximately 17,000 connections, which serves about 60,000 people in Texas.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 18, 2026.

Overview

1985Founded1

Compare with California Water Service Group, American States Water or Essential Utilities, or pick any stock.

  • TickerHTO on Nasdaq1
  • Industrywater collection, treatment and supply1
  • HeadquartersSan Jose1
  • Websitewww.sjwgroup.com
  • Legal formLimited Liability Company, Delaware corporation1
  • Incorporated inDE5
  • Business address110 W. Taylor Street, San Jose, Ca 951105
  • Filer categoryLarge accelerated filer5

See how the biggest companies compare on our leaderboards

H2O America (formerly known as SJW Group) ("SJW") is a water utility processing, distribution, wholesale and retail company based in San Jose, California. It serves 228,000 connections that serves over 1 million residents in regions of California, and approximately 17,000 connections, which serves about 60,000 people in Texas. The enterprise value (as of December 2021) is $3.76 billion.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

22.0%Operating margin7
12.7%Net margin7
9.4%Revenue growth, 20257
6.7%Return on equity7
1.21×Debt to equity7

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs86¢$690.7M
  • Income tax2¢$12.4M
  • Profit13¢$102.6M

Out of $805.6M in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid24¢$58.6M
  • Kept or used elsewhere76¢$186.2M

Out of $244.8M of cash from operations.7

Financial statements

Revenue8910117$805.6M in 2025+80% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $447.7M$447.7M20192020: $549.3M$549.3M2020+23%2021: $559.6M$559.6M2021+2%2022: $586.9M$586.9M2022+5%2023: $678.2M$678.2M2023+16%2024: $736.3M$736.3M2024+9%2025: $805.6M$805.6M2025+9%
Operating income8910117$177.5M in 2025+209% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $57.5M$57.5M20192020: $117.7M$117.7M2020+105%2021: $111.2M$111.2M2021−6%2022: $131.0M$131.0M2022+18%2023: $149.4M$149.4M2023+14%2024: $170.5M$170.5M2024+14%2025: $177.5M$177.5M2025+4%
Net income8910117$102.6M in 2025+338% since 2019
0$50.0M$100.0M$150.0M2019: $23.4M$23.4M20192020: $61.5M$61.5M2020+163%2021: $60.5M$60.5M2021−2%2022: $73.8M$73.8M2022+22%2023: $85.0M$85.0M2023+15%2024: $94.0M$94.0M2024+11%2025: $102.6M$102.6M2025+9%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Operating revenue$800.6M$748.4M$670.4M
Purchased water$126.3M$158.6M$136.0M
Power$21.8M$11.5M$9.6M
Groundwater extraction charges$112.1M$73.1M$63.0M
Other production expenses$51.0M$48.9M$47.6M
Total production expenses$311.2M$292.0M$256.2M
Administrative and general$126.0M$105.8M$98.7M
Maintenance$32.9M$31.3M$25.7M
Property taxes and other non-income taxes$37.7M$35.9M$34.5M
Depreciation and amortization$115.3M$112.9M$105.9M
Total operating expense$623.1M$577.9M$520.9M
Operating income$177.5M$170.5M$149.4M
Interest on long-term debt and other interest expense-$72.6M-$71.4M-$66.1M
Pension non-service credit (cost)$6.4M$3.8M-$1.2M
Other, net$3.5M$55.0K$8.9M
Income before income taxes$114.9M$102.9M$90.9M
Provision for income taxes$12.4M$9.0M$6.0M
Net income$102.6M$94.0M$85.0M
Unrealized (loss) gain on investment, net of taxes of $0 in 2025, $(163) in 2024 and $166 in 2023$0-$442.0K$530.0K
Adjustment to pension benefit plans, net of taxes of $0 in 2025, $0 in 2024 and $80 in 2023-$493.0K$611.0K-$216.0K
Comprehensive income$102.1M$94.1M$85.3M
Basic (in dollars per share)$2.93$2.87$2.69
Diluted (in dollars per share)$2.92$2.87$2.68
Basic (shares)35.0M shares32.7M shares31.6M shares
Diluted (shares)35.1M shares32.8M shares31.7M shares
Unrealized gain (loss) on investment, tax expense (benefit)$0-$163.0K$166.0K
Adjustment to pension benefit plans, tax benefit$0$0$80.0K

Compare SJW Group with another company

Leadership

Who has led SJW Group, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. W. Richard Roth2006–2017
  2. Eric W. Thornburg2017–2025
  3. Andrew F. Walters2025–now

President

  1. W. Richard Roth2006–2017
  2. Andrew Gere2016–2023
  3. Eric W. Thornburg2017–2019
  4. David C. Benoit2019
  5. Maureen P. Westbrook2019–2022
  6. Craig J. Patla2023–2024
  7. Tanya Moniz-Witten2024–2025
  8. Bruce A. Hauk2025–now

Chief financial officer

  1. Angela Yip2006–2008
  2. Andrew F. Walters2022–2025
  3. Ann P. Kelly2025–now

Chief operating officer

  1. R. Scott Yoo2006–2013
  2. Andrew Gere2015–2023
  3. Bruce A. Hauk2023–now
1990200020102020
Board members and other officers (36)

Products and brands

The company has four subsidiaries, comprising San Jose Water Company, SJWTX, Inc., SJW Land Company as well as Texas Water Alliance Limited (TWA). TWA is engaged in operating the essential water supply activities in Texas. The company's diverse utility property include land held in fee, impounding reservoirs, diversion facilities, wells, distribution storage, and all water facilities, equipment, office buildings, etc. In 2012, the revenue generated by purchased water made up about 40% to 45% of the company’s annual revenue.

The company attended the industry’s conference, Water Utility Conference of 2013, as one of the largest water utility companies in the U.S.

In October 2018, it was announced that SJW was acquiring Connecticut Water Service, a water utility company serving communities in Connecticut and Maine, pending federal approval. The acquisition was completed in October 2019.

From Wikipedia’s article on H2O America, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Acquisitions

  1. Oct 2019Connecticut Water Service, Inc. became a subsidiary1
  2. 1985Acquired San Jose Water Company1

Former names

  • SJW CORPNov 14, 1994 to Nov 2, 20165
  • SJW Corp.1985 to 20161

Timeline

  1. Jul 3, 2025New chief executive Andrew F. Walters becomes CEO16
  2. Nov 6, 2017New chief executive Eric W. Thornburg becomes CEO17
  3. 2016Renamed Name changed to SJW Group1
  4. Jan 4, 2006New chief executive W. Richard Roth becomes CEO18
  5. 1985Founded Founded1

Filings

400 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 60 major events, 252 insider forms, 32 large holders, 36 other. The latest 20:

  1. Oct 1, 20268-K EDGAR
  2. Sep 22, 2026SCHEDULE 13G/A EDGAR
  3. Aug 19, 20264/A PRIMARY DOCUMENT EDGAR
  4. Aug 19, 20264/A PRIMARY DOCUMENT EDGAR
  5. Aug 19, 20264/A PRIMARY DOCUMENT EDGAR
  6. Aug 19, 20264/A PRIMARY DOCUMENT EDGAR
  7. Aug 19, 20263/A PRIMARY DOCUMENT EDGAR
  8. Aug 19, 2026SCHEDULE 13G/A EDGAR
  9. Aug 3, 20264 EDGAR
  10. Jul 28, 2026SCHEDULE 13G/A EDGAR
  11. Jul 28, 202610-Q EDGAR
  12. Jul 27, 20268-K EDGAR
  13. Jul 13, 20264/A PRIMARY DOCUMENT EDGAR
  14. Jul 8, 20264 PRIMARY DOCUMENT EDGAR
  15. Jul 6, 20264 EDGAR
  16. Jul 6, 20264 EDGAR
  17. Jul 2, 20264 PRIMARY DOCUMENT EDGAR
  18. Jun 12, 20268-K EDGAR
  19. Jun 5, 20264 EDGAR
  20. Jun 3, 20264 EDGAR

The 400 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 32 such filings since October 2021, the latest 10:

  1. Sep 22, 2026SCHEDULE 13G/A
  2. Aug 19, 2026SCHEDULE 13G/A
  3. Jul 28, 2026SCHEDULE 13G/A
  4. Apr 27, 2026SCHEDULE 13G/A
  5. Apr 8, 2026SCHEDULE 13G/A
  6. Mar 27, 2026SCHEDULE 13G/A
  7. Mar 10, 2026SCHEDULE 13G
  8. Mar 6, 2026SCHEDULE 13G
  9. Feb 17, 2026SCHEDULE 13G/A
  10. Nov 14, 2025SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.7,106,413$431.9M0.0%+688,680
ATLAS Infrastructure Partners (UK) Ltd.4,612,035$280.3M8.5%+79,951
Wellington Management Group Llp1,995,839$121.3M0.0%+382,268
ANTIPODES PARTNERS Ltd1,759,602$106.9M2.0%−489,427
Vanguard Capital Management LLC1,574,377$95.7M0.0%−112,876
State Street Corp1,554,683$94.5M0.0%+123,532
Cerity Partners LLC1,307,227$79.4M0.1%−2,452
Vanguard Portfolio Management LLC1,263,898$76.8M0.0%+94,820
Soros Fund Management LLC1,254,368$76.2M1.3%+25,621
Victory Capital Management Inc1,168,734$71.0M0.0%+256,839
Amundi1,105,367$67.2M0.0%−51,585
Geode Capital Management, LLC992,465$60.3M0.0%+95,389
Yaupon Capital Management LP851,846$51.8M1.7%−43,589
Two Sigma Investments, LP806,493$49.0M0.0%+556,161
Invesco Ltd.776,317$47.2M0.0%+75,722
Dimensional Fund Advisors LP714,601$43.4M0.0%+9,256
Morgan Stanley589,652$35.8M0.0%−191,549
Legal & General Group Plc571,546$34.8M0.0%+28,064
Resolution Capital Ltd515,795$31.3M0.6%+33,335
Zimmer Partners, LP513,500$31.2M0.7%−487,500
Barrow Hanley Mewhinney & Strauss LLC504,368$30.7M0.1%+94,718
Charles Schwab Investment Management Inc503,037$30.6M0.0%+20,867
Schroder Investment Management Group494,524$30.2M0.0%−92,416
First Trust Advisors LP490,833$29.8M0.0%−41,154
Goldman Sachs Group Inc436,328$26.5M0.0%+94,285

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63