| Stage | AWK | % of rev | AWR | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.5B | 100.00% | $181M | 100.00% | AWK ×8.33 |
| Gross profit | $979M | 64.83% | $172M | 95.05% | AWR +30.2pp |
| Operating income | $641M | 42.45% | $64M | 35.29% | AWK +7.2pp |
| Pre-tax income | $499M | 33.05% | $58M | 31.86% | AWK +1.2pp |
| Net income | $387M | 25.63% | $43M | 23.87% | AWK +1.8pp |
| Stage | AWK | AWR | Gap · A − B |
|---|---|---|---|
| Revenue | $1.5B100.00% | $181M100.00% | AWK ×8.33 |
| Gross profit | 64.83%$979M | 95.05%$172M | AWR +30.2pp |
| Operating income | 42.45%$641M | 35.29%$64M | AWK +7.2pp |
| Pre-tax income | 33.05%$499M | 31.86%$58M | AWK +1.2pp |
| Net income |
| 25.63%$387M |
| 23.87%$43M |
| AWK +1.8pp |
AWK 10-KFeb 19 '25
“MSG enters into contracts with the U.S. government for the operation and maintenance of water and wastewater systems, which contracts may be terminated, in whole or in part, prior to the end of the 50-year term for convenience of the U.S. government or as a result of default or non-performance by the subsidiary performing the contract.”
AWR 10-KFeb 18 '26
“The vast majority of ASUS's revenues are from the U.S. government.”