American Water Works Company, Inc. (AWK): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico das concessionárias de água, a American Water Works Company, Inc. (AWK) é um farol de inovação e confiabilidade, transformando o recurso essencial da água em um serviço meticulosamente gerenciado que abrange vários estados. Ao alavancar uma sofisticada modelo de modelo de negócios, a AWK criou uma abordagem abrangente que vai além da mera distribuição de água, criando um ecossistema robusto de gerenciamento sustentável de água que serve clientes residenciais, comerciais e municipais com tecnologia de ponta e compromisso inabalável de qualidade e meio ambiente mordomia.

American Water Works Company, Inc. (AWK) - Modelo de negócios: Parcerias -chave

Governos municipais e autoridades de serviços públicos locais

A American Water Works Company atende 1.700 comunidades em 14 estados. Em 2022, a empresa tinha Operações de utilidade regulamentadas Em estados, incluindo Nova Jersey, Pensilvânia, Illinois e Califórnia.

Estado	Número de comunidades servidas	Conexões de água
Nova Jersey	462	609,000
Pensilvânia	238	385,000
Illinois	134	171,000

Empresas de engenharia e construção

Em 2022, a American Water investiu US $ 2,2 bilhões em melhorias de infraestrutura e despesas de capital.

• Os principais parceiros de construção incluem preto & VEATCH
• Engenheiros de CH2M Hill
• Jacobs Engineering Group

Agências regulatórias ambientais

A conformidade com a EPA e os regulamentos ambientais em nível estadual é fundamental para as operações da American Water.

Agência regulatória	Foco de conformidade
Agência de Proteção Ambiental	Padrões de qualidade da água
Departamentos Ambientais do Estado	Regulamentos locais de água

Tecnologia de água e fornecedores de infraestrutura

A empresa mantém parcerias estratégicas com os provedores de tecnologia para melhorar o tratamento e a distribuição de água.

• Xylem Inc.
• Soluções de água Pentair
• Grundfos Pumps Corporation

Instituições de pesquisa e organizações de conservação de água

A American Water colabora com instituições acadêmicas e de pesquisa para promover os esforços de tecnologia e conservação da água.

Instituição	Foco na pesquisa
Universidade Rutgers	Tecnologia de infraestrutura de água
Fundação de Pesquisa de Água	Gerenciamento sustentável da água

American Water Works Company, Inc. (AWK) - Modelo de negócios: Atividades -chave

Tratamento e purificação de água

Volume anual de tratamento de água: 375 bilhões de galões

Tipo de instalação de tratamento	Número de instalações	Capacidade diária de tratamento
Plantas de tratamento de águas superficiais	52	1,2 bilhão de galões
Plantas de tratamento de água subterrânea	86	0,8 bilhão de galões

Manutenção e atualizações de infraestrutura

Investimento anual de infraestrutura: US $ 1,7 bilhão

• Substituição principal da água: 400 milhas por ano
• Taxa de renovação do tubo: 0,7% anualmente
• Rede total de distribuição de água: 51.000 milhas

Distribuição de água e gerenciamento de suprimentos

Área de serviço	Estados servidos	Total de conexões do cliente
Empresas regulamentadas	16	3,4 milhões

Conformidade regulatória e monitoramento ambiental

Orçamento anual de conformidade ambiental: US $ 45 milhões

• Testes de qualidade da água realizados: 1,2 milhão anualmente
• Taxa de conformidade: 99,8%

Operações de atendimento ao cliente e cobrança

Canais de atendimento ao cliente	Interações anuais
Plataforma digital	12,6 milhões
Call center	3,2 milhões

American Water Works Company, Inc. (AWK) - Modelo de negócios: Recursos -chave

Extensa rede de infraestrutura de água

A água americana opera 52.600 milhas de rede de água em vários estados. A empresa mantém 16.000 instalações de tratamento de água e águas residuais.

Ativo de infraestrutura	Quantidade
Plantas de tratamento de água	1,100
Plantas de tratamento de águas residuais	500
Tanques de armazenamento	2,300
Estações de bombeamento	1,800

Instalações avançadas de tratamento de água

Investimento total de capital em infraestrutura: US $ 1,8 bilhão em 2022. Os recursos tecnológicos incluem:

• Sistemas avançados de filtragem de membrana
• Tecnologia de osmose reversa
• Processos de desinfecção por UV
• Sistemas de monitoramento de qualidade da água em tempo real

Força de trabalho técnica e operacional qualificada

Total de funcionários: 7.300 a partir de 2022. Aparelhamento da força de trabalho:

Categoria de funcionários	Percentagem
Profissionais técnicos	35%
Equipe operacional	45%
Pessoal administrativo	20%

Direitos da água e contratos da área de serviço

A cobertura do serviço inclui 16 estados com operações regulamentadas em 10 estados primários. Conexões de serviço reguladas totais: 3,4 milhões.

Sistemas tecnológicos para monitoramento e gerenciamento

Investimento em tecnologia: US $ 350 milhões em infraestrutura digital e sistemas de gerenciamento em 2022. Os principais recursos tecnológicos incluem:

• Sistemas avançados de mapeamento GIS
• Tecnologias de detecção de vazamentos em tempo real
• Software de manutenção preditiva
• Infraestrutura de segurança cibernética

American Water Works Company, Inc. (AWK) - Modelo de negócios: proposições de valor

Abastecimento de água potável e seguro

A partir de 2024, a American Water atende a aproximadamente 14 milhões de pessoas em 24 estados. A empresa oferece 1,7 bilhão de galões de água diariamente a 52.000 milhas de rede de água.

Métrica de serviço	Quantidade
Total de clientes	14 milhões
Entrega diária de água	1,7 bilhão de galões
Infraestrutura principal da água	52.000 milhas

Qualidade consistente da água e conformidade regulatória

A American Water realiza mais de 1 milhão de testes de qualidade da água anualmente, garantindo 99,5% de conformidade com os padrões de água potável federal e estadual.

• Testes anuais de qualidade da água: 1.000.000+
• Taxa de conformidade regulatória: 99,5%
• EPA SAFA POT POT POBLETH LET LET CONSENHA: Certificação completa

Soluções sustentáveis ​​de gerenciamento de água

A empresa investiu US $ 2,3 bilhões em melhorias de infraestrutura em 2023, com foco em iniciativas de conservação e sustentabilidade da água.

Investimento de sustentabilidade	Quantia
Investimento de infraestrutura (2023)	US $ 2,3 bilhões
Uso de energia renovável	25% da energia total

Infraestrutura tecnológica avançada

A American Water opera 1.600 estações de tratamento de água com sistemas avançados de monitoramento tecnológico, utilizando análise de dados em tempo real para eficiência operacional.

• Plantas de tratamento de água: 1.600
• Instalações de medidores inteligentes: 750.000+
• Sistemas de monitoramento digital: rede abrangente

Serviços abrangentes de água em vários estados

A empresa opera em 24 estados com uma base total de ativos de US $ 24,3 bilhões a partir de 2023, fornecendo diversos serviços de água e águas residuais.

Métrica de expansão de serviço	Quantidade
Estados de operação	24
Base de ativos totais (2023)	US $ 24,3 bilhões
Total de negócios regulamentados	16 estados

American Water Works Company, Inc. (AWK) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de serviço de longo prazo com municípios

A partir de 2022, a American Water atende a aproximadamente 1.700 comunidades em 14 estados. A empresa possui 638 contratos de serviço de água e águas residuais de longo prazo.

Tipo de contrato	Número de contratos	Impacto anual da receita
Serviços de água municipal	482	US $ 3,4 bilhões
Serviços de águas residuais	156	US $ 1,2 bilhão

Canais diretos de suporte ao cliente

A American Water opera vários canais de suporte ao cliente com as seguintes métricas:

• 24/7 de atendimento ao cliente Centers
• Suporte telefônico: 1,6 milhão de interações com os clientes anualmente
• Suporte de bate -papo online: 350.000 interações digitais por ano
• Tempo de resposta de suporte por e-mail: reviravolta média de 24 horas

Plataformas de cobrança digital e gerenciamento de clientes

Estatísticas de uso da plataforma digital para 2022:

Recurso da plataforma	Taxa de adoção do usuário
Pagamento on -line	68%
Usuários de aplicativos móveis	42%
Cobrança sem papel	55%

Programas de engajamento e educação da comunidade

Métricas de investimento e engajamento comunitário:

• Orçamento anual de educação comunitária: US $ 2,3 milhões
• Oficinas de conservação de água: 127 eventos em 2022
• Programas de educação escolar: alcançaram 85.000 alunos

Comunicação transparente sobre a qualidade da água

Métricas de relatórios de qualidade da água:

Métrica de relatório	Desempenho anual
Relatórios de qualidade da água publicados	1.700 relatórios da comunidade
Conformidade com os padrões da EPA	99.8%
Divulgações de qualidade da água pública	100% de disponibilidade digital e de impressão

American Water Works Company, Inc. (AWK) - Modelo de Negócios: Canais

Centros diretos de atendimento ao cliente

A partir de 2024, a American Water Works Company opera 16 centros estaduais de atendimento ao cliente nos Estados Unidos.

Estado	Número de centros de atendimento ao cliente
Nova Jersey	3
Califórnia	2
Illinois	2
Outros estados	9

Portal da Web online e aplicativos móveis

Os canais digitais da American Water incluem:

• Tráfego do site: 3,2 milhões de visitantes únicos anualmente
• Downloads de aplicativos móveis: 682.000 a partir do quarto trimestre 2023
• Usuários de pagamento de conta on -line: 1,7 milhão de clientes

Escritórios de cobrança local

A empresa mantém 24 escritórios de cobrança locais entre territórios de serviço.

Linhas telefônicas de suporte ao cliente

Estatísticas de suporte ao cliente:

• Volume total de call center: 1,2 milhão de chamadas anualmente
• Tempo médio de resposta: 3,5 minutos
• Representantes de suporte ao cliente: 287 funcionários em tempo integral

Centros de divulgação e informação da comunidade

Categoria de divulgação	Engajamento anual
Eventos da comunidade	142
Programas educacionais	86
Oficinas de conservação de água	53

American Water Works Company, Inc. (AWK) - Modelo de negócios: segmentos de clientes

Consumidores de água residencial

A partir de 2023, a água americana serve aproximadamente 14 milhões de pessoas em 24 estados através de serviços residenciais de água.

Categoria de cliente	Número de clientes	Receita anual
Consumidores residenciais	3,4 milhões de famílias	US $ 2,87 bilhões

Entidades municipais e governamentais

American Water fornece serviços de água e águas residuais para 1.700 municípios em suas regiões operacionais.

• Valor do contrato intervalo: US $ 500.000 a US $ 50 milhões anualmente
• Cobertura de serviço: 24 estados

Usuários de água comercial e industrial

A empresa serve Mais de 5.000 clientes comerciais e industriais.

Segmento da indústria	Clientes atendidos	Volume anual de água
Fabricação	2.300 clientes	48 milhões de galões/dia
Assistência médica	650 clientes	12 milhões de galões/dia

Clientes do Serviço de Água Agrícola

Serviços de água agrícola representam aproximadamente US $ 125 milhões em receita anual.

• Clientes em estados intensivos em irrigação
• Cobertura de serviço: Califórnia, Texas, Novo México

Clientes institucionais de serviço de água

American Water serve 1.100 clientes institucionais, incluindo universidades, bases militares e instalações governamentais.

Segmento institucional	Clientes atendidos	Valor anual do contrato
Universidades	350 campi	US $ 75 milhões
Instalações militares	42 bases	US $ 95 milhões

American Water Works Company, Inc. (AWK) - Modelo de negócios: estrutura de custos

Manutenção e substituição de infraestrutura

Em 2022, a American Water Works Company investiu US $ 1,4 bilhão em melhorias em infraestrutura e despesas de capital. O orçamento total de substituição de infraestrutura da empresa para 2023 foi de aproximadamente US $ 1,6 bilhão.

Ano	Investimento de infraestrutura
2022	US $ 1,4 bilhão
2023	US $ 1,6 bilhão

Despesas de tratamento de água e purificação

Os custos anuais de tratamento de água e purificação para a American Water Works Company atingiram US $ 385 milhões em 2022. A empresa opera 1.100 instalações de tratamento de água em vários estados.

• Instalações de tratamento de água: 1.100
• Despesas anuais de tratamento: US $ 385 milhões

Custos de conformidade regulatória

As despesas de conformidade regulatória para a American Water Works Company foram de aproximadamente US $ 210 milhões em 2022. Esses custos incluem monitoramento ambiental, relatórios e atendimento aos padrões de qualidade da água federal e estadual.

Categoria de conformidade	Despesa anual
Monitoramento ambiental	US $ 85 milhões
Custos de relatórios	US $ 65 milhões
Implementação padrão de qualidade	US $ 60 milhões

Salários e benefícios dos funcionários

A compensação total dos funcionários para a American Water Works Company em 2022 foi de US $ 672 milhões. A empresa empregou aproximadamente 7.400 trabalhadores em várias divisões operacionais.

• Compensação total dos funcionários: US $ 672 milhões
• Número de funcionários: 7.400
• Compensação média por funcionário: US $ 90.810

Atualizações de tecnologia e sistema

Os investimentos em tecnologia e infraestrutura digital totalizaram US $ 185 milhões em 2022. Isso inclui instalações de medidores inteligentes, aprimoramentos de segurança cibernética e atualizações de tecnologia operacional.

Categoria de investimento em tecnologia	Despesa
Instalações de medidores inteligentes	US $ 75 milhões
Aprimoramentos de segurança cibernética	US $ 55 milhões
Atualizações de tecnologia operacional	US $ 55 milhões

American Water Works Company, Inc. (AWK) - Modelo de negócios: fluxos de receita

Taxas de serviço de água residencial

Em 2022, a água americana gerou US $ 3,88 bilhões em taxas de serviço residencial de água em 16 estados. A conta média de água residencial mensal foi de US $ 74,54.

Categoria de serviço residencial	Receita (2022)
Serviços de água residencial regulamentados	US $ 3,42 bilhões
Serviços residenciais não regulamentados	US $ 460 milhões

Cobranças de serviço de água comercial

As cobranças do Serviço de Água Comercial foram responsáveis ​​por US $ 1,26 bilhão em receita para 2022.

• Grandes contas comerciais representaram 42% da receita comercial
• Os serviços de água para pequenas empresas contribuíram com 58% da receita comercial

Contratos de abastecimento de água municipais

Os contratos municipais geraram US $ 925 milhões em 2022, com acordos de longo prazo em 10 a 25 anos.

Tipo de contrato municipal	Receita anual
Fornecimento municipal direto	US $ 675 milhões
Gerenciamento de infraestrutura municipal	US $ 250 milhões

Serviços de manutenção de infraestrutura

Os serviços de manutenção de infraestrutura geraram US $ 412 milhões em 2022.

• Serviços de reabilitação do sistema de água: US $ 215 milhões
• Contratos de manutenção de pipeline: US $ 197 milhões

Testes de qualidade da água e serviços de consultoria

Os serviços de teste e consultoria de qualidade da água produziram US $ 187 milhões em receita para 2022.

Categoria de serviço	Receita
Teste de água municipal	US $ 98 milhões
Consultoria de Água Industrial	US $ 89 milhões

American Water Works Company, Inc. (AWK) - Canvas Business Model: Value Propositions

You're running a utility that provides something absolutely non-negotiable: water. That's the core value American Water Works Company, Inc. (AWK) delivers, and the numbers back up its scale and commitment to that promise.

Safe, clean, and reliable drinking water service.

The fundamental value proposition is delivering water that meets or exceeds required safety thresholds. Based on the 2024 Water Quality Reports, the drinking water provided to more than 14 million people across 24 states meets or surpasses both state and federal water quality standards for all regulated substances, including lead. This commitment is backed by a team of leading researchers, scientists, and specialists who focus on high-quality water delivery. The company holds itself to high standards, consistently scoring among the highest of all water companies when it comes to complying with strict federal regulations for safe drinking water.

Essential, non-discretionary utility service.

This service is essential because, frankly, life stops without it. As of late 2025, American Water Works Company, Inc. (AWK) is the largest regulated water and wastewater utility company in the United States. This massive footprint means the service is non-discretionary for its customer base. As of year-end 2024, the company served 3.5 million active customers in its water and wastewater networks. The company affirms its long-term financial targets, including long-term EPS and dividend per share compounded annual growth rates (CAGRs) of 7 to 9%, reflecting the stable, essential nature of the business.

Infrastructure resilience through large-scale capital investment.

You can't promise reliability without replacing aging pipes, so the capital plan is a direct measure of this value. American Water Works Company, Inc. (AWK) is actively investing billions to ensure system resilience, which helps with customer retention and meeting rising demand. The company is on track with its 2025 capital investment plan, targeting a total of approximately $3.3 billion for the year. By the end of the first half of 2025, they had already invested $1.3 billion. This near-term spending supports much larger, long-range plans aimed at system renewal.

Here's a look at the scale of their commitment to infrastructure renewal:

Investment Horizon	Planned Capital Investment Amount
2025 (Full Year Target)	$3.3 billion
2026 (Planned)	$3.7 billion
2026-2030 (Long-Term Plan)	$19 to $20 billion
2026-2035 (Long-Term Plan)	$46 to $48 billion

Compliance with stringent water quality regulations.

Regulatory adherence is paramount in this sector, and American Water Works Company, Inc. (AWK) uses its scale to manage this complexity across multiple jurisdictions. The company has been authorized additional annualized revenues of $270 million since January 1, 2025, from completed general rate cases and infrastructure proceedings, which helps recover these compliance and investment costs. The focus on quality is tied to financial recovery through the regulatory process. For instance, as of late 2025, the company had general rate cases in progress in four jurisdictions and had filed for infrastructure surcharges in two, reflecting a total annualized revenue request of $141 million.

The value here is demonstrated by the successful recovery of investments:

• Authorized annualized revenues since January 1, 2025: $270 million.
• Authorized annualized revenues from Q1 2025 rate cases/surcharges: $161 million.
• Total debt to capital ratio as of Q2 2025: 58% (under the target of less than 60%).

Largest investor-owned utility scale in the U.S.

Being the largest provides economies of scale, which translates into better cost management and service delivery capabilities. American Water Works Company, Inc. (AWK) operates regulated utilities in 14 states and serves over 14 million people. This scale is a key resource that supports their growth strategy. The company affirmed its long-term rate base growth target of 8 to 9% (including acquisitions), which is enabled by this existing large footprint. The 2025 weather-normalized earnings per share guidance range was narrowed to $5.70 to $5.75, showing confidence in managing this large operation. Finance: draft 13-week cash view by Friday.

American Water Works Company, Inc. (AWK) - Canvas Business Model: Customer Relationships

You're managing relationships with millions of customers who rely on you for a service that is absolutely essential-water. American Water Works Company, Inc. (AWK) manages this through a deeply localized, regulated structure. This isn't a one-size-fits-all approach; it's about executing service agreements state by state, which is where the real work happens.

Long-term, regulated service agreements.

The foundation of the relationship is the long-term nature of the service, governed by state regulatory bodies. American Water Works is the largest investor-owned U.S. water and wastewater utility, serving more than 14 million people across 14 states and 18 military installations. The company's growth strategy heavily relies on these regulated frameworks. For instance, as of July 30, 2025, the company had approximately 87,000 customer connections under agreement from announced deals totaling over $500,000,000. A recent example is the agreement to purchase Nexus Water Group systems in eight states, adding nearly 47,000 customer connections for an approximate total of $315 million. These investments are supported by regulatory approvals; since January 1, 2025, the company has been authorized additional annualized revenues of $161 million from general rate cases and infrastructure surcharges. The company plans to invest approximately $3.3 billion across its footprint in 2025 to support these services.

Metric	Value as of Late 2025 Data
Total Regulated Customers Served	More than 14 million people
Regulated States of Operation	14 states
Customer Connections Under Agreement (as of July 30, 2025)	Approximately 87,000
Total Value of Announced Acquisition Agreements	Over $500,000,000
2025 Total Capital Investment Plan	Approximately $3.3 billion

High-touch, local customer service through state subsidiaries.

The relationship is delivered locally through state subsidiaries, which handle day-to-day interactions. The Service Company, a wholly owned subsidiary, provides essential support, including call handling and billing, to these regulated businesses under contracts approved by Public Utility Commissions (PUCs) where needed. This structure ensures that while the parent company is large, the customer interface remains local. For example, Pennsylvania American Water maintains a dedicated customer service line at 1-800-565-7292 for payment arrangements. This local focus is key to maintaining service quality, which underpins the company's long-term growth targets of 7-9% for both earnings and dividend growth.

Customer assistance programs for low-income households.

American Water Works Company, Inc. maintains several programs to help customers manage their bills, recognizing the financial strain that utility costs can place on households. These programs vary by state, but common features include grants, bill discounts, and payment plans. For instance, Pennsylvania American Water's H2O Help to Others Program™ offers grants of up to $500 per household per year. For water customers enrolled, this can mean a 30% to 90% discount on the monthly service fee and a 20% to 80% discount on volumetric charges, saving the average residential user using 3,201 gallons/month between $17.66 to $64.99 every month. Wastewater assistance in that state offers a 37% to 85% discount on total charges, saving the average user between $40.53 to $93.12 every month. In New Jersey, grants up to $500 are available to customers at or below 300% of the Federal Poverty Level. The Universal Affordability Discount in New Jersey offers a tiered discount ranging from 15-60% for those at or below 200% of the Federal Poverty Level. In one specific jurisdiction, 20,200 customers still needed to verify eligibility to maintain their bill discount program status.

Here's a quick look at the potential savings for a qualifying water customer in Pennsylvania:

• Grant Amount: Up to $500 annually.
• Monthly Water Bill Discount: Between $17.66 and $64.99.
• Monthly Wastewater Bill Discount: Between $40.53 and $93.12.

Digital channels for billing, outage reporting, and conservation.

To improve responsiveness and self-service, American Water Works Company, Inc. heavily promotes its digital platforms. The MyWater online customer portal is a central hub where users can perform key actions 24/7. Customers use this portal to:

• Pay their bill and check account balances.
• Set up paperless billing and automatic payments.
• View water usage history.
• Apply for customer assistance programs.

The company also offers a H2O Care Virtual Assistant to help with service changes, billing, and payment questions. For urgent needs, customers can report an outage or service issue directly online via MyWater or amwater.com. These digital tools help streamline routine interactions, freeing up local staff for more complex, high-touch service needs.

Finance: draft 13-week cash view by Friday.

American Water Works Company, Inc. (AWK) - Canvas Business Model: Channels

You're looking at how American Water Works Company, Inc. gets its essential services-water and wastewater treatment-directly to the people and entities it serves. The channels here are physical, jurisdictional, and digital, all built around a massive, regulated infrastructure footprint.

The core channel is the physical water and wastewater distribution network itself. This is the tangible asset that connects the utility to the end-user. As of late 2025, American Water Works Company, Inc. operates regulated services across 14 states in the United States. This physical system serves approximately 14 million people through its regulated operations. The active customer base within these regulated water and wastewater networks stands at approximately 3.5 million connections.

Service delivery is channeled through its state-level operating companies, which manage local regulatory compliance and customer relationships. These subsidiaries operate under various names across the states where American Water Works Company, Inc. has a presence. For instance, Pennsylvania American Water is actively managing its service area, having filed a request on November 14, 2025, to support $1.2 billion in water and wastewater system investments through mid-2027. Similarly, New Jersey American Water's rate change filing was driven by over $1.3 billion in infrastructure improvements.

Here's a look at the scope of the regulated operations by state presence:

Jurisdiction Scope	Metric	Value/Count
Total States of Regulated Operation	Number of States	14
Total Communities Served (Regulated)	Number of Communities	Approximately 1,700
Total Customers Served (Regulated)	Number of Customers	Approximately 3.5 million
Authorized Annualized Revenue Increase (YTD 2025)	Amount in Millions USD	$161 million

The company also uses regulatory filings as a channel to secure revenue recovery for capital deployment. Since January 1, 2025, American Water Works Company, Inc. has seen authorized annualized revenues of $161 million from completed general rate cases and infrastructure proceedings, with $138 million coming specifically from general rate cases.

For customer interaction, American Water Works Company, Inc. relies on direct customer billing and service portals. The company explicitly recognizes its website, amwater.com, as a key channel for reaching public investors and fulfilling SEC Regulation FD disclosure obligations. For shareholders, the American Water Stock Direct plan is a channel for dividend reinvestment, with enrollment support available by calling 888-556-0423. For operational customer service, specific subsidiaries provide direct contact; for example, the New Jersey customer service center operates Monday to Friday, from 7 a.m. to 7 p.m..

The Military Services Group acts as a distinct channel for government service delivery through long-term contracts for military base operations under the Department of Defense's Utilities Privatization (UP) Program. American Water Works Company, Inc. currently serves 18 military installations. These are long-term commitments, often spanning 50 years, which provide predictable revenue streams.

Key long-term military contracts include:

• Service at Joint Base Lewis-McChord (JBLM), valued at approximately $771 million over 50 years.
• Service at Joint Base San Antonio, a nearly $450 million contract over 50 years.
• Service at Fort Belvoir, Virginia, secured in 2009 under a 50-year contract.

The total population served across these military installations is approximately 670,000 members of the military community.

Here's a summary of the scale of these long-term government channels:

Military Installation Contract Detail	Contract Duration	Approximate Value
Joint Base Lewis-McChord (JBLM)	50 years	Approximately $771 million
Joint Base San Antonio	50 years	Nearly $450 million
Total Military Installations Served	N/A	18

Finance: draft 13-week cash view by Friday.

American Water Works Company, Inc. (AWK) - Canvas Business Model: Customer Segments

You're looking at the core of American Water Works Company, Inc.'s operations, which is fundamentally about serving a massive, diverse, and geographically spread-out customer base across the United States. This segment breakdown shows where the regulated revenue engine is truly running.

The largest customer group, by far, is the Residential customers segment. While the exact connection percentage isn't publicly confirmed for late 2025, this group forms the bedrock of American Water Works Company, Inc.'s regulated utility business, representing the vast majority of their customer connections.

The company serves a total of approximately 3.5 million active customers across its footprint, though some reports cite figures near 3.4 million customers. This customer base is spread across 14 states in the U.S..

The customer segments are clearly delineated, reflecting both regulated utility service and contract-based operations:

• Residential customers: The primary volume driver for the regulated business.
• Commercial and Industrial businesses: This includes a range of users from food and beverage providers to large-scale manufacturers and mining operations.
• Public Authority and Municipal entities: Serving government buildings, schools, and universities under regulated frameworks.
• U.S. Military Installations: This is a distinct, non-regulated contract business, with American Water Works Company, Inc. serving 18 military installations. These contracts are structured to deliver regulated-like returns, which is a key feature of this segment.
• Other Utilities: Providing water and wastewater services to other community systems.

To give you a clearer picture of the scale and the recent financial context for these customers, here's a look at the operational scope as of late 2025:

Metric	Value	Context/Date Reference
Total Active Customers (Approximate)	3.5 million	As of late 2025
States Served (Regulated Operations)	14	Across the footprint
U.S. Military Installations Served	18	Non-regulated contracts
Trailing Twelve-Month Revenue (TTM)	$5.07B	As of September 30, 2025
Q3 2025 Reported Revenue	$1.45 billion	Quarter ended September 30, 2025
Narrowed 2025 EPS Guidance (Weather-Normalized)	$5.70 to $5.75	Affirmed in Q3 2025

The focus on infrastructure investment directly supports these customer segments. For instance, the 2025 capital investment plan was on track with $1.3 billion invested through June 30, 2025, with a total planned investment of approximately $3.3 billion for the year. This spending is necessary to maintain service for all customer types, including specific projects like the one in Pennsylvania where Pennsylvania American Water Co. is citing $1.2 billion in ongoing system improvements.

Also, note the acquisition activity which directly expands these segments. As of July 30, 2025, American Water Works Company, Inc. had approximately 87,000 customer connections under agreement from deals totaling over $500 million. One specific deal mentioned was the Nexus Water Group purchase, adding nearly 47,000 customer connections.

Finance: draft 13-week cash view by Friday.

American Water Works Company, Inc. (AWK) - Canvas Business Model: Cost Structure

The Cost Structure for American Water Works Company, Inc. (AWK) is heavily weighted toward long-term asset maintenance and regulatory mandates, reflecting its capital-intensive utility nature. This structure is primarily driven by the need to maintain and expand a vast network of water and wastewater infrastructure.

The capital-intensive structure is evident in the planned infrastructure spending. American Water Works Company, Inc. (AWK) is on track to meet its goal of approximately $3.3 billion in capital investment across its footprint for the full year 2025. This spending is the engine for rate base growth. For context, the company invested $1.3 billion in the first half of 2025 alone. The five-year capital plan spanning 2025-2029 is projected to total $17-18 billion.

Operating expenses remain high due to the continuous nature of water treatment and system upkeep. For instance, the Operating Expenses for the second quarter of 2025 were reported at $837 million. This category includes the necessary, ongoing costs for water treatment processes and routine maintenance across the service territories.

Financing costs represent a significant component, driven by the debt required to fund the massive capital program. As of the end of the second quarter of 2025, American Water Works Company, Inc. (AWK)'s total debt to capital ratio stood at 58%, which management noted was within their target of less than 60%. The total debt on the balance sheet as of September 2025 was $15.37 Billion USD. For the quarter ending June 30, 2025, the reported Interest Expense on Debt was $158 million.

Regulatory compliance imposes specific, large-scale cost burdens. A major driver is the estimated investment needed for emerging contaminants. American Water Works Company, Inc. (AWK) estimates approximately $1 billion in capital expenditures within its 2025-2029 plan specifically to address new PFAS regulations. Furthermore, the company anticipates up to $50 million annually in operating expenses for testing and treatment related to PFAS compliance over the 2025-2029 period.

Labor costs are substantial given the scale and specialized nature of the operations. As of June 2025, American Water Works Company, Inc. (AWK) employed approximately 6.7K individuals.

You can see a snapshot of these key cost-related financial figures below:

Cost Component Metric	Amount / Ratio	Period / Scope
Total Capital Investment Plan	$3.3 billion	Fiscal Year 2025
Total Debt to Capital Ratio	58%	End of Q2 2025
Total Debt	$15.37 Billion USD	September 2025
Interest Expense on Debt	$158 million	Quarter ending June 30, 2025
Estimated PFAS Capital Expenditure	$1 billion	2025-2029 Plan
Estimated Annual PFAS Operating Expense	$50 million	2025-2029 Plan
Operating Expenses (Example)	$837 million	Q2 2025
Employee Count	6.7K	As of June 2025

The major cost drivers for American Water Works Company, Inc. (AWK) can be summarized by their required outlays:

• Infrastructure Capital Expenditures (CapEx) for 2025: $3.3 billion.
• Debt servicing reflected by Interest Expense: $158 million in Q2 2025.
• Regulatory compliance CapEx for PFAS: Estimated $1 billion over 2025-2029.
• High fixed operating costs, exemplified by Q2 2025 OpEx of $837 million.
• Labor expenses supporting a workforce of 6.7K employees.

The company's reliance on debt is structurally embedded, with the debt-to-capital ratio at 58% at mid-year 2025.

American Water Works Company, Inc. (AWK) - Canvas Business Model: Revenue Streams

You're looking at the core ways American Water Works Company, Inc. (AWK) brings in cash, which is heavily tied to its regulated utility status. This structure provides stability, but growth is often tied to regulatory approvals and capital deployment.

The primary engine for American Water Works Company, Inc. (AWK) revenue is its regulated water and wastewater service fees. This is the bread and butter, serving over 14 million people across 14 states and 18 military installations as of mid-2025.

A key driver for increasing this revenue base comes from successful regulatory filings. For instance, the company has been authorized additional annualized revenues of $270 million since January 1, 2025, split between general rate cases and infrastructure surcharges. You specifically noted a figure tied to rate increases in your outline, so we include that context:

• Revenue from authorized rate increases requested in one filing: $161 million annualized.
• Total authorized annualized revenue from rate cases and surcharges since January 1, 2025: $270 million.

To give you a sense of the scale of the primary revenue stream, here are some recent quarterly revenue figures:

Period End Date	Reported Revenue	Year-over-Year Growth
June 30, 2025 (Q2)	$1.28 billion	11%
September 30, 2025 (Q3)	$1.45 billion	9.7%

The analyst consensus for the full-year 2025 revenue forecast is close to the actual reported figures, though I see a slightly different concrete number in the data:

• Analyst consensus 2025 revenue forecast: US$5.07 billion.

Beyond the core regulated business, American Water Works Company, Inc. (AWK) generates revenue from its non-regulated segment, which notably includes water services for military bases operating under long-term contracts that offer regulated-like returns. The size of this long-term commitment is substantial, as seen in the backlog:

• Remaining Performance Obligations (RPOs) from contracts with the U.S. government for military installations, expiring between 2051 and 2073, totaled $7.4 billion as of June 30, 2025.

While revenue is key, the profitability derived from that revenue is what matters for shareholders. The company has narrowed its 2025 EPS guidance, which reflects the expected revenue realization:

• 2025 EPS guidance: $5.70 to $5.75 per share.

Finance: draft 13-week cash view by Friday.