YORWYORK WATER CO

Water Supply

Revenue: $77M; 3.4% YoY
Operating margin: 36.0%; 4.4% YoY
EBITDA: $42M; 2.3% YoY
Market cap: $513M
Employees: 129; $597K revenue each
Net debt / EBITDA: 4.5×; $189M net debt
AI in 10-K: 0.0; mentions per 10K words

Takeover score 3 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
149% of net income
Cash flow under 80% of net income
Dilutive SBCNo
—
Over 10% of revenue
Payouts exceed cash flowNo
42% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentNo
94% lowest support
Any vote under 80% support

Buyer economics 3 of 4

Low revenue per employeeYes
$597K · 16th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.0 per 10K words · 0th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
4.5× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedYes
$513M market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$121K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$55M	$60M	$71M	$75M	$77M	3.4%
Operating income	$23M	$24M	$30M	$28M	$28M	1.2%
Net income	$17M	$20M	$24M	$20M	$20M	1.3%
Operating cash flow	$23M	$22M	$32M	$31M	$30M	2.3%
Dividends	$10M	$11M	$12M	$12M	$13M	4.5%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $145K · 34
Open-market sells, 12 mo: $266K · 1
Net: −$121K

Pay vs performance

No pay-versus-performance disclosure yet.