Start here if you're new
what it is
York Water collects, cleans, and delivers water, then handles wastewater, for parts of south-central Pennsylvania.
how it gets paid
Last year York Water made $77M in revenue. regulated water service was the main engine at $54M, or 70% of sales.
why it's growing
Revenue grew 3.4% last year. $58M matters because it equals about 75% of York Water's $77M annual revenue base.
what just happened
Revenue hit $58M and EPS reached $1.03, but that looks outsized next to York Water's usual run rate.
At a glance
B+ balance sheet — decent shape, but not bulletproof
90/100 earnings predictability — you can trust these numbers
23.6x trailing p/e — priced about right
2.9% dividend yield — cash in your pocket every quarter
437.0% return on capital — a money-printing machine
xvary composite: 59/100 — below average
What they do
York Water collects, cleans, and delivers water, then handles wastewater, for parts of south-central Pennsylvania.
You do not casually switch water pipes. York Water operates in franchised territory across 57 municipalities in four Pennsylvania counties, and that local lock-in keeps demand steady. The system had 41.1 million gallons of average daily availability against 24.1 million gallons of average daily consumption as of September 30, 2025, so capacity still runs ahead of current use.
How they make money
$77M
annual revenue · their business grew +3.4% last year
regulated water service
$54M
wastewater treatment
$12M
wastewater collection
$6M
connection and tap fees
$3M
other utility services
$2M
The products that matter
regulated water utility service
Water distribution
$71.5M · 92.3% of segment revenue
this is the core $71.5M business and the reason the company exists. your customer base is captive. your pricing is not.
core utility
wastewater collection and treatment
Wastewater services
$6.0M · 7.7% of segment revenue
this smaller $6.0M segment broadens the footprint, but at 7.7% of revenue it does not rewrite the thesis. it is support, not the driver.
adjacent service
Key numbers
$1.42
fy2024 eps est
$75M
fy2024 rev est
23.6x
trailing p/e
2.9%
dividend yield
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 90 / 100
- long-term debt $227M (33% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for YORW right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $58M and EPS reached $1.03, but that looks outsized next to York Water's usual run rate.
EDGAR shows the latest quarter at $58M of revenue, up 185% vs. prior year, and EPS at $1.03, up 140%. Consensus data separately lists the last earnings figure at $0.43, so you should treat the headline quarter as unusual and compare it against the company's normal full-year revenue base of $77M.
$58M
revenue
$1.03
eps
73.1%
gross margin
the number that mattered
$58M matters because it equals about 75% of York Water's $77M annual revenue base, which tells you this quarter was not normal.
source: company earnings report, 2026
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What could go wrong
this is a small water utility trading above 20x earnings. that means one Pennsylvania rate order carries more weight than it would in a bigger, faster-growing business.
high
Regulatory rate case disappointment
York Water has filed for a rate increase with the Pennsylvania PUC. If regulators approve less than requested, revenue growth stays utility-slow while the stock still wears a premium multiple.
Current snapshot analysis pegs the gap at roughly $3–$4M of projected annual revenue. On a business this size, that is not rounding error.
med
Debt and refinancing pressure
The company carries $227M of long-term debt, equal to 33% of capital. That is normal enough for a regulated utility, but it leaves less room for error if borrowing costs stay elevated.
Higher interest expense hits cash generation before it hits customer demand. Utilities rarely lose customers. They can still lose financial flexibility.
med
Capital spending has to earn its keep
Water utilities do not get to skip infrastructure. The current risk analysis points to roughly $50M in planned annual capex, and overruns or delays would drag on returns before regulators fully recognize the spend.
That would pressure the current 8.51% return on equity and make the B+ balance sheet feel thinner than it looks on first read.
A weak rate outcome hits the exact part of the story doing most of the work: the move from $1.39 in current EPS toward the $1.60 forecast.
source: institutional data · regulatory filings · risk analysis
Pay attention to
regulatory
pennsylvania PUC rate case decision
Expected by Q3 2026. This is the event that decides whether the $1.60 EPS forecast looks realistic or stretched.
dividend
quarterly payout stays at $0.278
The 2.9% yield is part of why investors stay here. Watch whether management sounds more cautious about coverage after the rate decision.
earnings
EPS bridge from $1.39 to $1.60
That forecast gap is the cleanest scoreboard on the page. If you do not see progress there, the valuation case gets thin fast.
balance sheet
$227M of long-term debt at 33% of capital
This is not distress territory. It is enough debt that higher financing costs or heavier capex can start to matter before the stock market notices.
Analyst rankings
earnings predictability
90 / 100
in human-speak, analysts view the business as highly steady. surprise quarters are not the norm here.
price stability
90 / 100
the stock usually trades like a utility, not like a story stock. you are buying calm more than momentum.
risk rank
3
a 3 rank means this looks safer than many stocks, but safer does not mean cheap and it definitely does not mean catalyst-free.
source: institutional data
Institutional activity
institutional ownership data for YORW is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$33
current price
n/a
target midpoint · n/a from current
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