The York Water Company
- Open
- 30.39
- Day high
- 30.89
- Day low
- 30.39
- Prev close
- 30.29
- Volume
- 214K
- Mkt cap
- $496M
- P/E (TTM)
- 20.8
- EPS (TTM)
- $1.47
- P/B
- 2.0
- P/S
- 306.6
- Yield
- 1.49%
- Per share
- $0.46
- ▲Insiders net buying $73K over the last 3 months (12 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
The York Water Company (YORW) is a Utilities company listed on NASDAQ. The stock is down 6% over the past year. Over the trailing 3 months, insiders filed 12 open-market buys and 0 sales (SEC Form 4).
The York Water Company (YORW) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
YORW earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.31 | $0.33 | +6.5% | $20M | -1.1% |
| Mar 3, 2026 | $0.32 | $0.36 | +12.5% | $-58M | -390.1% |
| Nov 6, 2025 | $0.38 | $0.43 | +13.2% | $20M | -3.0% |
| Mar 4, 2025 | $0.37 | $0.36 | -2.7% | $19M | -0.7% |
| Nov 7, 2024 | $0.41 | $0.41 | +0.0% | $20M | +3.8% |
| Aug 2, 2024 | $0.45 | $0.35 | -22.2% | $19M | -1.3% |
| Mar 5, 2024 | $0.36 | $0.42 | +16.7% | $18M | +6.4% |
| Nov 3, 2023 | $0.46 | $0.53 | +15.2% | $19M | +10.4% |
| Aug 3, 2023 | $0.44 | $0.45 | +2.3% | $19M | +10.4% |
| May 2, 2023 | $0.26 | $0.26 | +0.0% | $15M | +2.7% |
| Mar 7, 2023 | $0.32 | $0.35 | +9.4% | $15M | +0.7% |
| Nov 3, 2022 | $0.38 | $0.40 | +5.3% | $16M | +5.4% |
YORW insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | Hand Joseph Thomasdirector, officer: President & CEO | Buy | 25 | $29.53 |
| May 20, 2026 | Yanavitch William T. IIdirector | Buy | 256 | $29.35 |
| May 8, 2026 | Scarpato Matthew Jofficer: Chief Operating Officer | Buy | 700 | $29.30 |
| May 6, 2026 | Keller Jody Ldirector | Grant | 154 | $29.14 |
| May 6, 2026 | Rasmussen Steven Rdirector | Grant | 154 | $29.14 |
| May 6, 2026 | Becker Suzanne Mofficer: VP- Customer Service | Grant | 208 | — |
| May 6, 2026 | Chiaruttini Alexandra Cofficer: CAO & General Counsel | Grant | 883 | — |
| May 6, 2026 | Lambert Robert Fdirector | Grant | 154 | $29.14 |
| May 6, 2026 | Hand Joseph Thomasdirector, officer: President & CEO | Grant | 1,509 | — |
| May 6, 2026 | Scarpato Matthew Jofficer: Chief Operating Officer | Grant | 796 | — |
| May 6, 2026 | Yanavitch William T. IIdirector | Grant | 51 | $29.14 |
| May 6, 2026 | Wand Laura Tdirector | Grant | 154 | $29.14 |
| May 6, 2026 | McGlaughlin Erin Cdirector | Grant | 154 | $29.14 |
| May 6, 2026 | Bonney Paul Rdirector | Grant | 154 | $29.14 |
| May 6, 2026 | Poff Matthew Eofficer: Chief Financial Officer | Grant | 974 | — |
Source: YORW SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full YORW insider & 13F page →The York Water Company company profile
Overview
The York Water Company (NASDAQ:YORW) is one of America's oldest investor-owned water utilities, incorporated in 1816 and headquartered in York, Pennsylvania. The company has been publicly traded since 1999 and operates as a regulated utility serving customers across 51 municipalities in three counties in south-central Pennsylvania. With over 200 years of continuous operation, York Water has established itself as a stable regional water and wastewater service provider, maintaining essential infrastructure including reservoirs, treatment facilities, and distribution networks that serve both residential and commercial customers in the region.
Business
The York Water Company operates in the regulated water utility industry, providing essential water and wastewater services to customers in south-central Pennsylvania. The water utility industry is characterized by natural monopolies where companies are granted exclusive service territories in exchange for regulatory oversight of rates and service quality. York Water's core operations center around water supply and distribution, where the company impounds, purifies, and distributes drinking water to customers. The company maintains critical infrastructure including two major reservoirs - Lake Williams and Lake Redman - which collectively hold approximately 2.2 billion gallons of water. Additionally, York Water operates a 15-mile pipeline from the Susquehanna River to Lake Redman and maintains nine groundwater wells in Adams County to ensure reliable water supply. The company also provides wastewater services through its ownership and operation of three wastewater collection systems and five wastewater collection and treatment systems. These facilities collect, treat, and discharge wastewater in compliance with environmental regulations, serving as a complementary service to the core water distribution business. York Water serves a diverse customer base spanning residential, commercial, and industrial sectors. Industrial customers include businesses in fixtures and furniture manufacturing, electrical machinery, food products, paper production, ordnance units, textile products, air conditioning systems, laundry detergents, barbells, and motorcycle industries. The company's service territory encompasses 51 municipalities across three counties in south-central Pennsylvania, providing it with a stable, geographically concentrated customer base.
Revenue model
York Water generates revenue primarily through regulated utility rates approved by the Pennsylvania Public Utility Commission (PUC). The company charges customers for water consumption based on metered usage, with rate structures that include both fixed service charges and variable consumption charges. As a regulated utility, York Water must seek approval from state regulators for rate increases, which are typically granted based on demonstrated need for infrastructure investment, operating cost increases, and allowed returns on invested capital. The company's revenue model is highly predictable due to the essential nature of water services and the regulated rate structure. Customers pay monthly bills for water service regardless of economic conditions, making this a recession-resistant business model. The regulatory framework allows York Water to earn a reasonable return on its invested capital while ensuring affordable service to customers. Several factors influence York Water's profitability margins. Regulatory approval timing significantly impacts margins, as delays in rate case approvals can compress returns when costs rise faster than revenues. Infrastructure investment cycles affect profitability, with major capital expenditures initially reducing returns until rate adjustments reflect the new asset base. Weather patterns influence consumption levels, with hot, dry summers typically driving higher usage and revenues, while conservation efforts and efficient appliances can reduce per-customer consumption over time. Interest rate environments impact the company's cost of capital for infrastructure financing, while regulatory treatment of environmental compliance costs affects the company's ability to recover investments in water quality and treatment upgrades. Population growth in the service territory provides natural revenue growth through customer additions, while economic conditions affecting industrial customers can influence commercial and industrial water usage patterns.
Competitive moat
York Water possesses a strong regulatory moat typical of investor-owned utilities, operating under a natural monopoly framework that provides significant competitive protection. The company holds exclusive rights to provide water and wastewater services within its designated service territory, creating substantial barriers to entry. New competitors would need to invest billions of dollars in parallel infrastructure while facing regulatory hurdles to obtain operating permits, making competition economically unfeasible. The company's essential service nature creates additional moat strength, as water service is non-discretionary and customers have no practical alternatives. This results in highly predictable demand and cash flows regardless of economic conditions. York Water's established infrastructure network, including reservoirs, treatment plants, and distribution systems built over decades, represents substantial sunk costs that would be extremely difficult and expensive for potential competitors to replicate. However, the regulatory framework that provides protection also limits the company's pricing power and growth potential. Rate regulation constrains the company's ability to rapidly increase prices, requiring lengthy regulatory proceedings to adjust rates. The company faces potential pressure from municipal takeover attempts, where local governments might seek to acquire the utility assets, though such efforts typically face significant legal and financial obstacles. Environmental regulations pose ongoing challenges, requiring continuous investment in treatment technology and infrastructure upgrades to meet evolving water quality standards. While these investments are typically recoverable through rates, they can create timing mismatches between capital deployment and rate recovery. The company's geographic concentration in Pennsylvania also creates some vulnerability to regional economic conditions and state regulatory changes, though the essential nature of the service provides substantial protection against demand destruction.
Risks & safety
York Water demonstrates moderate financial safety with some areas of concern typical of capital-intensive utilities. • Liquidity concerns: The company maintains minimal cash reserves ($1,000 in cash and short-term investments) and operates with current ratios below 1.0 (0.90 as of Q1 2025), indicating potential short-term liquidity challenges • Debt levels: Debt-to-equity ratio of 0.91 represents moderate leverage typical for utilities, though manageable given the regulated nature and stable cash flows • Cash flow dynamics: While operating cash flow remains positive ($6.0 million in Q1 2025), free cash flow is consistently negative due to heavy capital expenditure requirements for infrastructure maintenance and expansion • Valuation metrics: Trading at 34.3x P/E ratio and 23.1x EV/EBITDA, indicating premium valuation relative to earnings • Solvency assessment: Strong asset base ($641.7 million total assets) provides substantial collateral, and regulated utility status ensures ongoing rate recovery mechanisms for capital investments • Dividend sustainability: The company's long dividend history suggests commitment to shareholder returns, though negative free cash flow raises questions about long-term sustainability without rate increases or reduced capital spending
Recent development
Based on the financial data trends, York Water has focused on significant infrastructure investment and expansion over recent years. The company's total assets have grown from $510.6 million in 2022 to $641.7 million by Q1 2025, representing a substantial 26% increase that reflects major capital deployment in water and wastewater infrastructure. Revenue growth has been steady, increasing from $60.1 million in 2022 to $75.0 million in 2024, indicating successful rate adjustments and potential customer base expansion. However, this growth has come alongside substantial capital expenditure programs, as evidenced by consistently negative free cash flows ranging from -$31.9 million in 2022 to -$18.5 million in 2024. The company has maintained operational efficiency improvements, with EBITDA margins strengthening over the period. Operating cash flows have remained robust, generating $30.6 million in 2024 compared to $22.0 million in 2022, demonstrating the underlying strength of the regulated utility business model despite the capital-intensive nature of the industry. York Water's balance sheet evolution shows controlled leverage management, with debt-to-equity ratios remaining relatively stable around 0.85-0.90 range, indicating disciplined capital structure management during this period of significant infrastructure investment. The company appears to be positioning itself for long-term growth through strategic infrastructure upgrades while maintaining its regulated utility stability.
YORW company profile · for informational purposes only — not investment advice.
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