American States Water Co

XMUN:FDK

Business Description

Sector

Utilities

Industry

Utilities

Headquarters

United States of America US

Employees

900

IPO date

Mar 17, 1980

American States Water Co. is a utility holding company whose main business is delivering regulated water service in California through its subsidiary Golden State Water Company. It also owns American States Utility Services, which handles water and wastewater systems for U.S. military installations under long-term service contracts. In simple terms, it sells essential water and utility services that customers need every day, with most of the business tied to regulated rates or contract payments.

Its main customers are homes, businesses, and public agencies in California, plus the federal government through military base agreements. The company makes money by charging for water delivery, wastewater service, and related utility work under approved tariffs or contract terms. Because water service is essential and heavily regulated, the business is built around steady demand, long-lived infrastructure, and close oversight of pricing.

What makes American States Water different is that it sits at the intersection of a classic regulated utility and a government service contractor. One side of the business depends on local water rates set by regulators, while the other side depends on long-term contracts to run utility systems on military property. That mix gives it a clear role in the utility value chain: it does not just sell water, it owns and manages the pipes, treatment systems, and customer service needed to deliver it reliably.