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American Water Works Company cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$160M in Q3 2026 · −$1.2B over twelve months

Operating cash flow$728M
Capital spending−$888M
Free cash flow−$160M
Cash / net income1.9×

Analysis

In Q3 2026, American Water Works Company generated $728M of operating cash flow and spent $888M on capital projects, leaving free cash flow of −$160M. That is $127M less than in Q3 2025 (−$33.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.3B; the largest uses were capital spending ($3.5B), dividends ($675M), acquisitions ($440M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.0B), other investing ($660M); the cash balance fell by $54.0M.

Operating cash flow was $728M against net income of $387M — 1.9× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$245M, other operating capital −$112M, deferred taxes +$62.0M.

Free cash flow

American Water Works Company: free cash flow by quarterAmerican Water Works Company: free cash flow by quarter−$255MQ4 2024−$217MQ1 2025−$432MQ2 2025−$33.0MQ3 2025−$385MQ4 2025−$354MQ1 2026−$258MQ2 2026−$160MQ3 2026
Operating cash flow less capital spending.
American Water Works Company: operating cash flow against capital spendingAmerican Water Works Company: operating cash flow against capital spendingOperating cash flowCapital spending$639M$894MQ4 2024$331M$548MQ1 2025$301M$733MQ2 2025$764M$797MQ3 2025$663M$1.0BQ4 2025$305M$659MQ1 2026$602M$860MQ2 2026$728M$888MQ3 2026
Latest (Q3 2026): Operating cash flow $728M, Capital spending $888M.

Capital allocation, year by year

American Water Works Company: where the cash came from (up) and went (down), by fiscal yearAmerican Water Works Company: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $1.4BFY2021: Net borrowing $548MFY2021: Asset sales $472MFY2021: Capital spending −$1.8BFY2021: Acquisitions −$135MFY2021: Dividends −$428M$2.5BFY2021FY2022: Operating cash flow $1.1BFY2022: Net borrowing $1.4BFY2022: Asset sales $608MFY2022: Capital spending −$2.3BFY2022: Acquisitions −$315MFY2022: Dividends −$467M$3.1BFY2022FY2023: Operating cash flow $1.9BFY2023: Net borrowing −$14.0MFY2023: Shares issued $1.7BFY2023: Capital spending −$2.6BFY2023: Acquisitions −$81.0MFY2023: Dividends −$532M$3.6BFY2023FY2024: Operating cash flow $2.0BFY2024: Net borrowing $1.7BFY2024: Capital spending −$2.9BFY2024: Acquisitions −$417MFY2024: Dividends −$585M$3.7BFY2024FY2025: Operating cash flow $2.1BFY2025: Net borrowing $1.8BFY2025: Capital spending −$3.1BFY2025: Acquisitions −$71.0MFY2025: Dividends −$633M$3.9BFY2025
Over these 5 years operating cash flow totalled $8.5B; the largest uses were capital spending ($12.6B) and dividends ($2.6B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$121M
Debt$16.3B
Net debt$16.2B
Due within a year$1.5B

American Water Works Company's operations bring cash in ($2.3B over twelve months), and it spends more than that on capital projects: a gap of $1.2B funded from its $121M of cash and investments and from borrowing ($16.3B of debt, $1.5B due within a year). That is a choice to invest, not a cash runway running down.

American Water Works Company: debt maturities by year (FY2025)American Water Works Company: debt maturities by year (FY2025)$1.5BYear 1$646MYear 2$869MYear 3$938MYear 4$517MYear 5$9.9BAfter year 5
Principal due in each year as disclosed in the annual report, against $121M of cash and investments now.

Where the cash came from and went

American Water Works Company: sources (+) and uses (−) of cash, Q3 2026American Water Works Company: sources (+) and uses (−) of cash, Q3 2026Capital spending−$888MOperating cash flow$728MNet borrowing (+) / repaid (−)$336MDividends−$178MCash drawn (+) / kept (−)$73.0MAcquisitions−$45.0MOther investing−$45.0MOther financing$19.0M
American Water Works Company: sources (+) and uses (−) of cash, TTM to Q3 2026American Water Works Company: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$3.5BOperating cash flow$2.3BNet borrowing (+) / repaid (−)$1.0BDividends−$675MOther investing$660MShares issued$476MAcquisitions−$440MOther financing$56.0MCash drawn (+) / kept (−)$54.0M

From profit to cash

American Water Works Company: net income to operating cash flow, Q3 2026American Water Works Company: net income to operating cash flow, Q3 2026Net income$387MDepreciation & amortization$245MDeferred taxes$62.0MOther non-cash−$22.0MPayables$31.0MIncome taxes payable$28.0MOther operating capital−$112MOperating cash flow$728M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$728M−$888M−$45.0M−$178M$336M$73.0M−$160M
Q2 2026$602M−$860M−$326M−$174M$361M−$57.0M−$258M
Q1 2026$305M−$659M−$20.0M−$162M−$218M−$32.0M−$354M
Q4 2025$663M−$1.0B−$49.0M−$161M$547M$70.0M−$385M
Q3 2025$764M−$797M−$9.0M−$161M$299M−$74.0M−$33.0M
Q2 2025$301M−$733M−$10.0M−$162M$581M$22.0M−$432M
Q1 2025$331M−$548M−$3.0M−$149M$399M−$17.0M−$217M
Q4 2024$639M−$894M−$298M−$149M$685M$37.0M−$255M

American Water Works Company: income statement and cash flow

American Water Works Company, Q3 2026: revenue $1.5B (+4% year over year), operating margin 42.5%. The chart follows the revenue to costs, profit and cash.

American Water Works Company: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.