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Consolidated Water

CWCO on Nasdaq. Consolidated Water sells water and water plant services to homes, governments, and businesses. Market value $486m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
6.2%high

For every $100 of what the whole company costs, it produced $6.22 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
22.6×full

You pay 22.6 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
13.0%five-year median

Each dollar kept in the business earns 13 cents a year. Above 10 is good.

Quality score: 95 of 100. Price score: 65 of 100. Our list needs 70 on quality and 60 on price.

$30.38 a share, 12% above its 1-year low

Over the past year the price has ranged from $27.23 to $39.12.

Dividend: 1.6% a year

Paid every year for at least 5 years

Payouts have jumped around in recent years, so this may not repeat.

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.0
0.0
0.0
0.0
0.0
0.0
2021202220232024202512 monthsto Jun '26
Revenue
$67m$94m$180m$134m$132m
Operating margin
3.0%9.9%20.6%13.6%13.9%
Debt to equity
0.000.000.000.000.00
Shares outstanding
0.02bn0.02bn0.02bn0.02bn0.02bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)6 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.00× equity
  • Revenue growth, five yearsStrong, 12.7% a year
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $33 million last quarter, down 2% on a year ago.
  • Profit: $4 million, down 23% on a year ago.
  • It keeps 12 cents of each $1 of sales as operating profit, about the same as a year earlier.
  • Spare cash over the past 12 months: $30 million, up from $21 million.
  • About the same number of shares as a year ago.
  • It has $133 million more cash than debt, up from $112 million a year ago.
  • Sales grew on a year ago in 2 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$33m
December 2024$28m
March 2025$34m
June 2025$34m
September 2025$35m
December 2025$30m
March 2026$30m
June 2026$33m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$4m
December 2024$1m
March 2025$5m
June 2025$5m
September 2025$6m
December 2025$3m
March 2026$4m
June 2026$4m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
16 March 2026
Next quarterly (estimated, 10-Q)
9 November 2026

Who owns it

3 long-term investors we follow own it, unchanged from 3 last quarter. 166 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

1 investor owns more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $188,674 of shares on the open market. 4 sold $1m.

  • Whittaker Raymond
    Director
    Sold
    Date
    3 September 2026
    Shares
    1,000
    Price
    $28.93
    Value
    $28,930
  • FLOWERS CLARENCE B.
    Director
    Sold
    Date
    17 August 2026
    Shares
    1,900
    Price
    $30.32
    Value
    $57,608
  • Giner Maria Elena
    Director
    Bought
    Date
    19 March 2026
    Shares
    3,310
    Price
    $30.24
    Value
    $100,100
  • PERGANDE WILMER F.
    Director
    Sold
    Date
    3 December 2025
    Shares
    4,299
    Price
    $33.75
    Value
    $145,091
  • PERGANDE WILMER F.
    Director
    Sold
    Date
    1 December 2025
    Shares
    1,053
    Price
    $34.00
    Value
    $35,802
  • MCTAGGART FREDERICK W.
    PRESIDENT AND CEO, Director
    Sold
    Date
    24 November 2025
    Shares
    5,000
    Price
    $33.50
    Value
    $167,500
  • Adamson Kimberly Anne
    Director
    Bought
    Date
    21 November 2025
    Shares
    2,619
    Price
    $33.82
    Value
    $88,575
  • MCTAGGART FREDERICK W.
    PRESIDENT AND CEO, Director
    Sold
    Date
    21 November 2025
    Shares
    18,152
    Price
    $33.50
    Value
    $608,092
  • MCTAGGART FREDERICK W.
    PRESIDENT AND CEO, Director
    Sold
    Date
    17 November 2025
    Shares
    1,848
    Price
    $35.76
    Value
    $66,084
  • FLOWERS CLARENCE B.
    Director
    Sold
    Date
    17 November 2025
    Shares
    1,605
    Price
    $34.33
    Value
    $55,100

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 16 Mar 2026, plus the 10-Q filed 10 Aug 2026 and 8 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

What changed in the risks this year

Companies must list what could hurt them each year. These are the parts that changed since last year’s report.

  • Substantial changes to fiscal, regulation and other federal policies could adversely affect our business, financial condition, operating results and cash flows.

    Could happen
    ​ We cannot predict what actions may ultimately be taken with respect to tariffs or trade relations between the U.S. and other countries, what products may be subject to such actions, or what actions may be taken by the other countries in retaliation. Accordingly, it is difficult to predict how such actions may impact our business, or the business or habits of our customers. Our business operations, as well as the businesses of our customers on which we are substantially dependent, are located in countries at risk for escalating trade disputes, including the U.S. Any resulting trade wars could have a significant adverse effect on world trade and could adversely impact our consolidated financial condition, results of operations and cash flows.
    Read more

Read it in the annual report

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from

It's near its lowest price in a year. The deep dive tells you if that's a bargain or a warning.

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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.