Consolidated Water Co. Ltd.

Listed Company

CWCOCIK 0000928340NasdaqAcceleratedWater SupplyE9FY ends Dec 31

Period

FY 2025

Revenue

$132.07M

Net Income

$18.34M

Total Assets

$257.57M

Equity

$221.65M

Shares Out

15.96M

Op. Cash Flow

$41.71M

Business

Consolidated Water Co. Ltd. is a comprehensive water solutions company that produces, supplies and manages potable water and related infrastructure using reverse osmosis and wastewater treatment technologies. It offers potable retail water, bulk water sales, design, construction, operations and maintenance of water and reuse facilities, water-related consulting, and specialized manufacturing of desalination and treatment equipment. The company operates through retail, bulk, services and manufacturing segments and an affiliate interest in OC-BVI, with corporate support functions. It serves markets in the Cayman Islands, The Bahamas, the United States and the British Virgin Islands, selling to end-users, government distributors and project clients.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	132	134	180	94	67
Cost of revenue	84	88	118	64	43
Gross profit	48	46	62	30	24
General and administrative expenses	30	28	25	21	18
Gain on asset dispositions, net	97,709	197,786	−7,112	−12,704	−3
Income from operations	18	18	37	9	2
Interest income	3	2	696,408	447,186	684,809
Interest expense	−4,420	−101,847	−145,284	−46,545	—
Equity in the earnings of affiliates	227,886	269,455	169,728	102,225	55,984
Other	131,438	131,878	107,461	89,944	52,775
Other income, net	3	2	828,313	464,810	2
Income before income taxes	21	21	38	10	4
Provision for income taxes	2	2	7	396,739	−447,982
Net income from continuing operations	19	18	31	9	4
Income from continuing operations attributable to non-controlling interests	593,179	577,590	573,791	1	632,915
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders	19	18	31	8	3
Net income (loss) from discontinued operations	−290,635	10	−1	−2	−3
Net income attributable to Consolidated Water Co. Ltd. stockholders	18	28	30	6	875,579
Continuing operations	1.17	1.13	1.95	0.54	0.23
Discontinued operations	−0.02	0.65	−0.07	−0.16	−0.17
Basic earnings per share	1.15	1.78	1.88	0.38	0.06
Continuing operations	1.16	1.12	1.93	0.54	0.23
Discontinued operations	−0.02	0.65	−0.07	−0.16	−0.17
Diluted earnings per share	1.14	1.77	1.86	0.38	0.06
Dividends declared per common and redeemable preferred shares	0.53	0.41	0.36	0.34	0.34
Basic earnings per share (shares)	16	16	16	15	15
Diluted earnings per share (shares)	16	16	16	15	15

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	124	99	43	51	40
Accounts receivable, net	33	40	38	27	27
Inventory	4	9	6	6	3
Prepaid expenses and other current assets	6	5	4	6	3
Contract assets	3	4	22	3	489,961
Current assets of discontinued operations	124,630	272,485	211,517	531,480	1
Total current assets	170	158	113	93	77
Property, plant and equipment, net	55	52	56	53	53
Construction in progress	7	5	495,471	4	710,863
Inventory, noncurrent	6	5	5	5	5
Investment in affiliates	1	2	1	2	2
Goodwill	13	13	13	10	10
Intangible assets, net	2	3	3	3	3
Operating lease right-of-use assets	3	3	2	2	3
Other assets	1	2	3	2	2
Total assets	258	243	218	193	176
Accounts payable, accrued expenses and other current liabilities	10	9	—	8	3
Accrued compensation	3	3	3	2	1
Dividends payable	2	2	2	1	1
Current maturities of operating leases	661,047	634,947	456,865	546,851	592,336
Current portion of long-term debt	47,549	126,318	192,034	114,964	62,489
Contract liabilities	12	9	6	9	513,878
Deferred revenue	248,719	365,879	317,017	315,825	583,646
Current liabilities of discontinued operations	271,159	509,745	364,665	389,884	182,322
Total current liabilities	28	25	24	23	8
Long-term debt, noncurrent	25,954	70,320	191,190	216,117	152,038
Deferred tax liabilities	707,444	210,893	530,780	560,306	564,526
Noncurrent operating leases	2	3	2	2	2
Other liabilities	153,000	153,000	153,000	219,110	141,000
Total liabilities	31	28	27	25	11
Commitments and contingencies	—	—	—	—	—
Redeemable preferred stock, $0.60 par value. Authorized 200,000 shares; issued and outstanding 39,507 and 44,004 shares, respectively	23,704	26,402	26,578	20,630	17,181
Class A common stock, $0.60 par value. Authorized 24,655,000 shares; issued and outstanding 15,945,233 and 15,846,345 shares, respectively	10	10	—	—	—
Additional paid-in capital	95	94	92	89	88
Retained earnings	117	107	85	61	61
Total Consolidated Water Co. Ltd. stockholders' equity	222	210	187	160	158
Non-controlling interests	5	5	5	8	8
Total equity	227	215	192	168	166
Total liabilities and equity	258	243	218	193	176

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Income from continuing operations attributable to non-controlling interests	593,179	577,590	573,791	1	632,915
Gain on sale of land and project documentation	—	−12	—	12,704	245,836
Foreign currency transaction adjustment - discontinued operations	247	64,960	−2,003	−102,507	53,039
Loss from discontinued operations	290,388	2	1	2	2
Depreciation and amortization	7	7	7	6	—
Deferred income tax expense provision (benefit)	496,551	−319,887	−524,999	−4,220	−649,531
Provision for credit losses	292,824	442,828	408,489	0	—
Amortization of operating lease right-of-use assets	714,653	617,903	868,057	—	—
Stock issued for services rendereds	69,440	—	—	—	—
Compensation expense relating to stock and stock option grants	2	1	2	1	977,232
(Gain) loss on asset dispositions, net	−97,709	−197,786	7,112	12,704	—
Equity in earnings of affiliates	−227,886	−269,455	−169,728	−102,225	−78,259
Distribution of earnings from OC-BVI	545,400	227,250	303,000	272,700	454,500
Accounts receivable	7	−2	−11	303,125	—
Contract assets	1	17	−19	−2	—
Inventory	4	−4	−891,405	−3	293,254
Prepaid expenses and other assets	−585,337	−361,359	−755,391	−3	−266,170
Accounts payable, accrued expenses and other current liabilities	−31,587	−3	2	7	−164,606
Accrued compensation	−297,804	176,916	892,447	—	—
Contract liabilities	2	3	−3	8	52,008
Operating lease liabilities	−719,859	−623,110	−873,262	−5,208	48,593
Deferred revenue	−117,160	48,862	1,192	−267,821	467,710
Net cash provided by operating activities - continuing operations	42	38	9	23	9
Net cash used in operating activities - discontinued operations	−495,449	−2	−1	−2	−2
Net cash provided by operating activities	42	37	8	21	7
Additions to property, plant and equipment and construction in progress	−9	−7	−5	−8	−1
Proceeds from asset dispositions	102,142	446,337	20,808	61,725	45,560
Investment in affiliate	—	−50,000	—	—	—
Proceeds from Mexico settlement agreement	—	33	—	—	—
Acquisition of REC, net of cash acquired	—	—	−3	—	—
Purchase of remaining non-controlling interest in PERC	—	—	−2	—	—
Net cash provided by (used in) investing activities	−8	27	−11	−5	−4
Dividends paid to common shareholders	−8	−6	−5	−5	−5
Dividends paid to preferred shareholders	−21,888	−17,962	−14,228	−11,078	−649,880
Dividends paid to non-controlling interests	−913,314	−232,100	—	−1	−11,015
Buyback of redeemable preferred stock	−29,089	−14,614	−1,830	−226	−16,799
Proceeds received from exercise of stock options	74,105	23,753	99,764	26,739	17,059
Principal repayments on long-term debt	−123,135	−186,586	−135,481	−72,091	−49,729
Net cash used in financing activities	−9	−7	−6	−6	−6
Net increase in cash and cash equivalents	24	57	−8	10	−3
Expenditures for property, plant and equipment and construction in progress not yet paid	595,288	0	0	—	—

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