Consolidated Water Co Ltd
cwco.comWhat Do They Do?
Produces drinking water from seawater for end users and government utilities, and designs, builds and operates water treatment plants and makes specialized water systems for commercial, municipal and industrial clients.
10-K for FY2025, filed Mar 16, 2026Retail Water Operations. We produce potable water from seawater utilizing reverse osmosis technology and supply this water to end-users…View ↗
Bulk Water Operations. We produce potable water from seawater utilizing reverse osmosis technology and supply this water to…View ↗
Services Operations. We design, construct and sell water production and water treatment plants, and we manage and operate water production…View ↗
Manufacturing Operations. We manufacture and service a wide range of specialized and custom water-related products and systems applicable…View ↗
How Do They Make Money?
For plant design and construction work, customers are billed according to project costs, milestones or preset schedules as work progresses. Retail customers are charged by water volume and monthly meter rental fees.
10-K for FY2025, filed Mar 16, 2026 8-K, filed Jun 24, 2026Contract assets and liabilities: Billing practices for the Company’s contracts are governed by the contract terms of each project based…View ↗
The License provides that Cayman Water’s base rates, monthly meter rental fees and certain other rates and charges will be as set forth in…View ↗
$132.1M
-
10-K for FY2025, filed Mar 16, 2026
$132.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Retail revenue
Mix
8-K, filed Jun 24, 2026 |
25%
FY2022: 28%
|
Retail revenue, FY2025
$33.6M Sources
|
Mix |
|
Bulk revenue
|
25%
FY2022: 35%
|
Bulk revenue, FY2025
$33.5M Sources
|
|
|
Services revenue
Recurring
10-K for FY2025, filed Mar 16, 2026 |
35%
FY2022: 31%
|
Services revenue, FY2025
$46.3M Sources
|
Recurring |
|
Manufacturing revenue
Recurring
10-K for FY2025, filed Mar 16, 2026 |
14%
FY2022: 6.7%
|
Manufacturing revenue, FY2025
$18.7M Sources
|
Recurring |
Who Are Their Customers?
Residential, commercial and government end-users receive water from its retail operations, while government-owned utilities buy bulk water. Third-party clients hire it to design, build, operate or manage water facilities, and commercial, municipal and industrial customers use its specialized water products and systems.
10-K for FY2025, filed Mar 16, 2026Retail Water Operations. We produce potable water from seawater utilizing reverse osmosis technology and supply this water to end-users…View ↗
Bulk Water Operations. We produce potable water from seawater utilizing reverse osmosis technology and supply this water to…View ↗
Services Operations. We design, construct and sell water production and water treatment plants, and we manage and operate water production…View ↗
Manufacturing Operations. We manufacture and service a wide range of specialized and custom water-related products and systems applicable…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 14 cents of every revenue dollar as net income in FY2025 and turned 25 cents into free cash flow.
10-K for FY2025, filed Mar 16, 2026
$18.4MView ↗
10-K for FY2025, filed Mar 16, 2026
$18.3MView ↗
10-K for FY2025, filed Mar 16, 2026
$33.2MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
-
Jun 24, 2026
Cayman Water received a new 25-year exclusive water license
The license begins August 1, 2026, and authorizes exclusive production, distribution and sale in its service area.
Sources
8-K, filed Jun 24, 2026
On June 18, 2026, OfReg notified Cayman Water that, at a meeting held on June 11, 2026, the OfReg Board of Directors had approved the…View ↗
Growing. Revenue grew 98% in 4 years, from $66.9M in FY2021 to $132.1M in FY2025, about 19% a year.
Who Do They Compete With?
Competes with Veolia, IDE Technologies, TSG, Seven Seas Water, Inframark, and Jacobs Solutions
10-K for FY2025, filed Mar 16, 2026We are the only non-government-owned public water utility on Grand Cayman. The Cayman Islands government, through the WAC, supplies water…View ↗
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