Forensic Analysis · Energy / Oil & Gas · as of Jun 28, 2026
YORK WATER CO (YORW)
A forensic read on YORK WATER CO built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
1.2
Altman Z-score
Clean
Earnings quality
3
Forensic signals
23.5
P / E (ttm)
8.9%
ROE
$499M
Market cap
2.88%
Dividend yield
YORK WATER CO earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 1.2, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
4%Return on invested capital.Return on invested capital is 4% and steady — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
+1.1%/yrShare-count dilution.Diluted share count changed +3% over the last 3 years to FY2025 (+1.1%/yr). The count is GROWING — existing holders are being diluted. That's ~1.1% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~3%.
40d DSOReceivables vs revenue.Days sales outstanding moved from 35 to 40 days FY2024→FY2025 (receivables +18% vs revenue +3%). Receivables are creeping up relative to sales — watch the trend.
Key fundamentals
Net Margin25.9%
Debt / Equity0.92x
Free Cash Flow$-18.9M
Latest Revenue$77.5M
Return on Equity8.3%
Revenue Growth YoY+3.4%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on YORK WATER CO:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about YORW's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown