Company Description
Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO) is a utilities-sector company focused on water supply and irrigation systems. According to its public disclosures, the company develops and operates advanced water supply and treatment plants and water distribution systems. It is incorporated in the Cayman Islands and reports that it designs, constructs and operates seawater desalination facilities in the Cayman Islands, The Bahamas and the British Virgin Islands, as well as water treatment and reuse facilities in the United States.
The company describes itself as a designer, builder and operator of advanced water supply and treatment plants. Its activities span regulated utility operations, design and construction services, operations and maintenance (O&M) services, and manufacturing. Consolidated Water highlights a diversified water business model that includes a retail water utility in Grand Cayman, bulk water supply to government utilities, services for water infrastructure projects, and manufacturing of specialized water-related products.
Business Segments and Operations
Consolidated Water reports several business segments. The retail segment operates the water utility for the Seven Mile Beach and West Bay areas of Grand Cayman Island. The bulk segment supplies potable water to government utilities in Grand Cayman and The Bahamas under long-term contracts. The services segment designs, constructs and sells water infrastructure and provides management and operating services to third parties. The manufacturing segment manufactures and services a range of custom and specialized water-related products applicable to commercial, municipal, and industrial water production, supply and treatment. The company also reports a corporate segment.
In its services activities, Consolidated Water, through subsidiaries, develops, designs, builds, operates and manages water infrastructure facilities in the United States, including water treatment, wastewater recycling and water reuse plants. The company notes that revenue in this segment is generated from construction projects and recurring O&M contracts. It has reported contracts for drinking water plant expansions, wastewater recycling plants and other treatment facilities in multiple U.S. states.
Desalination and Water Treatment Projects
A core focus for Consolidated Water is seawater desalination. The company designs, constructs and operates seawater desalination plants in island markets such as the Cayman Islands, The Bahamas and the British Virgin Islands. These facilities produce potable water from seawater for municipal and utility customers. The company also reports that it has entered the U.S. desalination market with a contract to design, construct, operate and maintain a seawater desalination plant in Hawaii.
Consolidated Water has in progress a design-build-operate project for a seawater desalination plant in Kalaeloa, Hawaii. Public statements describe this as a multi‑year project involving a development phase followed by construction and a long-term O&M agreement with the Honolulu Board of Water Supply. The company notes that the desalinated water produced during the pilot phase was evaluated by the client and determined to be a reasonable match to existing water supplies.
Beyond desalination, the company designs, constructs and operates water treatment and reuse facilities in the United States. These include wastewater recycling plants that convert untreated wastewater into water suitable for non‑potable uses such as irrigation. Consolidated Water reports projects that employ membrane bioreactor technology, combining biological wastewater treatment with advanced filtration to produce high-quality recycled water.
Manufacturing and Specialized Products
Through its manufacturing segment, Consolidated Water manufactures and services custom and specialized water-related products. These products are described as applicable to commercial, municipal and industrial water production, supply and treatment, as well as industrial water and wastewater treatment. The company has reported that a meaningful portion of its manufacturing revenue is generated by water purification equipment fabricated for the nuclear power industry, and that it holds Nuclear Quality Assurance (NQA‑1) certifications from two nuclear industry companies.
The company has also discussed expanding its manufacturing capacity, including the completion of additional manufacturing space intended to enhance efficiency and throughput. Manufacturing activities support both external customers and internal projects across the company’s segments.
Retail and Bulk Water Utility Activities
In Grand Cayman, Consolidated Water’s retail segment operates a water utility serving the Seven Mile Beach and West Bay areas. The company reports that retail water sales volumes can be influenced by factors such as rainfall, population growth and business activity within its service area. It has also reported investments in expanding desalination capacity to meet growing demand in this market.
Through its bulk segment, the company supplies potable water to government utilities in Grand Cayman and The Bahamas under long‑term contracts. Bulk segment revenue and profitability are affected by energy-related revenue and costs in its Bahamas operations, as described in its financial disclosures. The company has noted that changes in fuel pass‑through charges can affect reported bulk segment revenue, while cost management can influence gross profit.
Services and Operations & Maintenance
The services segment of Consolidated Water includes design, engineering, construction, management and operating services for water infrastructure. The company reports that this segment generates revenue from plant construction, design and consulting work, and recurring O&M contracts. Subsidiaries such as PERC Water Corporation develop, design, build, operate and manage water infrastructure facilities, particularly in the Southwestern United States.
Consolidated Water has highlighted contracts for projects such as drinking water plant expansions, wastewater recycling plants and other water treatment facilities. It has also reported that O&M contracts contribute recurring revenue, and that expanded scopes of service for certain clients can increase segment revenue.
Corporate Structure and Regulatory Context
Consolidated Water Co. Ltd. is incorporated in the Cayman Islands, B.W.I., and files reports with the U.S. Securities and Exchange Commission. Its common shares trade on the NASDAQ Global Select Market under the symbol CWCO. The company has reported the appointment of additional independent directors with extensive experience in water infrastructure, public utilities, infrastructure finance and policy.
As a reporting company, Consolidated Water provides periodic financial statements, segment disclosures and current reports on material events. These filings describe its segment performance, capital projects, contract awards and other operational developments. Investors can review these documents to understand the company’s financial condition, project pipeline and segment-level results over time.
Dividends and Capital Allocation
Consolidated Water’s public announcements indicate that its board of directors has authorized recurring quarterly cash dividends. The company has reported increases in its quarterly dividend per share, citing factors such as cash flows and liquidity from its retail, bulk and manufacturing segments and proceeds from prior settlements. Dividend declarations specify record dates and payment dates for shareholders.
Role in the Water Utilities and Treatment Sector
Within the water supply and irrigation systems industry, Consolidated Water is active in both regulated utility operations and contracted water infrastructure projects. Its activities range from island desalination utilities to U.S. water treatment and reuse plants, as well as manufacturing of specialized water-related equipment. The company’s disclosures emphasize a mix of retail and bulk water supply, services for third‑party infrastructure owners, and manufacturing for water and industrial clients, including nuclear power and municipal water customers.
Key Takeaways for CWCO Stock
For investors researching CWCO stock, Consolidated Water presents itself as a NASDAQ‑listed utilities company centered on water supply, desalination, treatment and reuse. Its operations are organized into retail, bulk, services, manufacturing and corporate segments. Public information highlights long‑term contracts with government utilities, multi‑year design‑build‑operate projects such as the Hawaii desalination plant, and recurring revenue from O&M contracts and regulated utility operations. The company also reports ongoing dividend payments and periodic adjustments to its dividend level.
Stock Performance
Consolidated Water (CWCO) stock last traded at $33.99, up 2.81% from the previous close. Over the past 12 months, the stock has gained 39.4%. At a market capitalization of $528.3M, CWCO is classified as a small-cap stock with approximately 16.0M shares outstanding.
Latest News
Consolidated Water has 10 recent news articles. Of the recent coverage, 7 articles coincided with positive price movement and 3 with negative movement. Key topics include earnings, conferences, dividends. View all CWCO news →
SEC Filings
Consolidated Water has filed 5 recent SEC filings, including 4 Form 4, 1 Form SCHEDULE 13G/A. The most recent filing was submitted on March 26, 2026. SEC filings provide transparency into a company's financial condition, material events, and regulatory compliance. View all CWCO SEC filings →
Insider Radar
Insider buying activity at Consolidated Water over the past 90 days may reflect management confidence in the company's direction. Institutional investors and analysts often monitor insider purchases as a potential bullish indicator for the stock.
Financial Highlights
Consolidated Water generated $132.1M in revenue over the trailing twelve months, retaining a 36.6% gross margin, operating income reached $18.4M (13.9% operating margin), and net income was $18.3M, reflecting a 13.9% net profit margin. Diluted earnings per share stood at $1.14. The company generated $41.7M in operating cash flow. With a current ratio of 6.12, the balance sheet reflects a strong liquidity position.
Upcoming Events
Dividend payable
Plant commissioning
Consolidated Water has 2 upcoming scheduled events. The next event, "Dividend payable", is scheduled for April 30, 2026 (in 27 days). 1 of the upcoming events are financial in nature, such as earnings calls or quarterly results. Investors can track these dates to stay informed about potential catalysts that may affect the CWCO stock price.
Short Interest History
Short interest in Consolidated Water (CWCO) currently stands at 490.2 thousand shares, down 4.0% from the previous reporting period, representing 3.3% of the float. This relatively low short interest suggests limited bearish sentiment.
Days to Cover History
Days to cover for Consolidated Water (CWCO) currently stands at 4.1 days, down 38% from the previous period. This days-to-cover ratio represents a balanced liquidity scenario for short positions. The days to cover has increased 28.4% over the past year, indicating improving liquidity conditions. The ratio has shown significant volatility over the period, ranging from 3.2 to 10.3 days.
CWCO Company Profile & Sector Positioning
Consolidated Water (CWCO) operates in the Utilities - Regulated Water industry within the broader Water Supply sector and is listed on the NASDAQ.
Investors comparing CWCO often look at related companies in the same sector, including York Water (YORW), Artesian Res Corp (ARTNA), Middlesex Watr (MSEX), Cadiz (CDZI), and Aris Mining Corp (ARIS). Comparing financial metrics, valuation ratios, and stock performance across these peers can help investors evaluate CWCO's relative position within its industry.