Consolidated Water Co. Ltd. (CWCO) intrinsic value & 10-year financials
Consolidated Water Co. Ltd. (CWCO) has a Graham intrinsic value of $37.87 per share. At $28.24 on Oct 17, 2026, the stock trades 25% below that value. Over the last 10 fiscal years revenue grew 9.2% a year to $127.2M, with an average return on invested capital of 8.7%.
- Graham intrinsic value
- $37.87
- Share price (Oct 17, 2026)
- $28.24
- Price vs Graham value
- 25% below
- Market cap
- $452.1M
- Revenue (FY2025)
- $127.2M
- Revenue growth (10-yr CAGR)
- 9.2%
- ROIC (10-yr avg)
- 8.7%
- Free cash flow (FY2025)
- $33.2M
CWCO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $127.2M | $18.3M | $1.14 | $33.2M | 14.4% | 15.4% |
| FY2024 | $114.6M | $28.2M | $1.77 | $29.8M | 16.0% | 13.0% |
| FY2023 | $109.0M | $29.6M | $1.86 | $2.9M | 34.1% | 23.5% |
| FY2022 | $25.5M | $5.9M | $0.38 | $13.8M | 36.4% | 7.5% |
| FY2021 | $6.1M | $875.6K | $0.06 | $5.5M | 32.9% | 1.7% |
| FY2020 | $17.5M | $3.7M | $0.24 | $15.6M | 47.6% | 6.7% |
| FY2019 | $16.1M | $12.2M | $0.80 | $11.7M | 58.4% | 7.5% |
| FY2018 | $1.8M | $11.3M | $0.75 | -$7.2M | 440.3% | 6.5% |
| FY2017 | $469.3K | $6.1M | $0.41 | $9.1M | 707.7% | 3.1% |
| FY2016 | $57.9M | $4.0M | $0.27 | $4.4M | 3.2% | 1.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Consolidated Water Co. Ltd. is a consistent compounder, expanding top-line revenue at 9.1% annually over the past decade.
Consolidated Water Co. Ltd. returns on capital have been average, hovering around 8.7% ROIC over the decade.
Consolidated Water Co. Ltd. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Consolidated Water Co. Ltd. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $37.87 per share.