Company Quick10K Filing
Aquaventure Holdings
10-K 2019-12-31 Filed 2020-03-06
10-Q 2019-09-30 Filed 2019-11-06
10-Q 2019-06-30 Filed 2019-08-07
10-Q 2019-03-31 Filed 2019-05-08
10-K 2018-12-31 Filed 2019-03-11
10-Q 2018-09-30 Filed 2018-11-07
10-Q 2018-06-30 Filed 2018-08-08
10-Q 2018-03-31 Filed 2018-05-08
10-K 2017-12-31 Filed 2018-03-12
10-Q 2017-09-30 Filed 2017-11-13
10-Q 2017-06-30 Filed 2017-08-14
10-Q 2017-03-31 Filed 2017-05-11
10-K 2016-12-31 Filed 2017-03-27
10-Q 2016-09-30 Filed 2016-11-18
8-K 2020-03-30 Leave Agreement, M&A, Shareholder Rights, Control, Officers, Amend Bylaw, Other Events, Exhibits
8-K 2020-03-16 Shareholder Vote, Other Events, Exhibits
8-K 2020-03-05 Earnings, Exhibits
8-K 2020-03-05 Other Events
8-K 2020-01-28 Other Events
8-K 2019-12-23 Enter Agreement, Other Events, Exhibits
8-K 2019-11-06 Earnings, Exhibits
8-K 2019-08-07 Earnings, Exhibits
8-K 2019-08-05 Officers
8-K 2019-07-10 Enter Agreement, Other Events, Exhibits
8-K 2019-06-07 Shareholder Vote
8-K 2019-05-08 Earnings, Exhibits
8-K 2019-04-26 Other Events, Exhibits
8-K 2019-04-14 Officers, Exhibits
8-K 2019-02-27 Earnings, Exhibits
8-K 2019-02-19 Officers
8-K 2018-12-20 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-12-18 M&A, Exhibits
8-K 2018-11-07 Earnings, Exhibits
8-K 2018-11-01 Officers, Exhibits
8-K 2018-11-01 Officers, Exhibits
8-K 2018-08-08 Earnings, Exhibits
8-K 2018-06-08 Shareholder Vote
8-K 2018-05-08 Earnings, Exhibits
8-K 2018-03-02 Earnings, Exhibits

Aquaventure Holdings Financials

WAAS Metrics, Comps, Filings

Quarterly | Annual

Business

AquaVenture Holdings Limited is a multinational provider of Water‑as‑a‑Service®, or WAAS®, solutions that provide our customers with a reliable and cost‑effective source of clean drinking water, processed water and wastewater treatment and water reuse solutions primarily under long‑term contracts that minimize capital investment by the customer. We believe our WAAS business model offers a differentiated value proposition that generates long‑term customer relationships, recurring revenue, predictable cash flow and attractive rates of return. We generate revenue from our operations in North America, the Caribbean and South America, and are pursuing expansion opportunities in North America, the Caribbean, South America, Africa, the Middle East and other select markets.

We deliver our WAAS solutions through two operating platforms: Seven Seas Water and Quench. Seven Seas Water is a multinational provider of desalination, wastewater treatment, and water reuse solutions to governmental, municipal (including utility districts), industrial, property developer and hospitality customers. Our desalination solutions provide more than 8.5 billion gallons per year of potable, high purity industrial grade and ultra‑pure water (which is water that is treated to meet higher purity standards required for industrial, semiconductor, utility or pharmaceutical applications). Our wastewater treatment and water reuse solutions, which include plants ranging in capacity from 5,000 gallons per day, or GPD, to more than 1.5 million GPD, are provided through more than 80 leases with customers. Quench is a U.S.‑based provider of Point‑of‑Use, or POU, filtered water systems and related services through direct and indirect sales channels. Through its direct sales channel, Quench primarily rents and services POU units to approximately 50,000 institutional and commercial customers in the United States and Canada, including more than half of the Fortune 500. Quench’s typical initial rental contract is three years in duration and contains an automatic renewal provision. Our annual unit attrition rate, at December 31, 2018, was approximately 7.5%, implying an average rental period of more than 12 years. We define “annual unit attrition rate” as a ratio, the numerator of which is the total number of removals of company‑owned and billed rental units during the trailing 12‑month period, and the denominator of which is the average number of company‑owned and billed rental units during the same 12‑month period. Through our indirect sales channel, we provide POU systems, filters, parts and services to networks of approximately 250 dealers and retailers predominantly in North America.

We are led by a talented management team with extensive industry experience, engineering knowledge, operational expertise and financial expertise and leverage our operating and engineering expertise to develop and deliver highly reliable WAAS solutions by applying proven water purification and wastewater technologies. We believe that we are well positioned to capitalize on global growth opportunities driven by population growth, increasing urbanization and water scarcity, increasing focus on health and wellness, wastewater treatment and solutions, and the environmental impact of bottled water consumption. We believe our focus on delivering best‑in‑class service and efficiency to our customers will continue to lead to substantial new business, contract extensions and customer expansion opportunities. In addition, we also have a demonstrated track record of identifying, executing and integrating acquisitions, with Seven Seas Water and Quench having completed 29 transactions from 2007 through 2018. We plan to continue to pursue acquisitions that will expand our geographic presence, broaden our service offerings and allow us to move into additional markets.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp (SBS) 5,386,058 0% 43,565,118 24,013,430 0 0 0 0 5,354,158
Mastec (MTZ) 4,941,785 10% 10.5 7% 4,858,652 3,179,348 7,391,564 775,498 325,317 594,560 6,219,290
American States Water (AWR) 3,346,288 49% 24.5 5% 1,604,381 1,008,434 471,881 231,717 81,431 147,582 3,617,235
California Water Service (CWT) 2,560,833 0% 33.8 1% 3,023,254 2,265,459 499,840 0 15,368 98,399 3,321,768
SJW Group (SJW) 1,707,571 0% 15.1 2% 2,022,382 1,125,718 314,002 0 37,936 119,096 1,793,945
Dycom Industries (DY) 1,698,280 17% 11.6 2% 2,395,576 1,515,426 3,350,698 570,892 56,350 230,230 2,673,877
Middlesex Water (MSEX) 1,053,513 0% 25.2 4% 887,353 101,756 0 32,813 50,784 1,282,182
Primoris Services (PRIM) 985,889 11% 6.7 5% 1,868,969 1,214,806 3,194,221 344,665 90,967 195,665 1,310,394
Connecticut Water Service (CTWS) 845,039 0% 36.3 2% 981,427 292,500 99,463 0 21,217 30,835 1,117,804
Aegion (AEGN) 663,005 20% 28.8 -1% 1,012,327 573,883 1,238,431 244,220 -8,565 31,977 919,909
Aquaventure Holdings (WAAS) 602,401 52% 37.6 -2% 797,130 393,341 192,721 99,964 -19,805 21,441 806,189
York Water (YORW) 569,385 0% 29.7 3% 360,939 229,131 38,559 0 11,013 22,657 672,711
MYR Group (MYRG) 538,859 10% 8.8 4% 988,013 637,441 1,968,178 192,627 35,672 80,810 707,904
Artesian Resources (ARTNA) 340,882 0% 14.2 3% 548,937 132,691 62,587 0 14,771 32,127 454,982
Cadiz (CDZI) 340,690 25% -51.5 -30% 73,519 160,162 441 111 -22,180 -9,070 466,736
Preformed Line Products (PLPC) 274,481 31% 7.1 5% 425,004 165,341 436,623 136,434 23,036 40,869 288,603
Pure Cycle (PCYO) 245,553 30% 73.0 3% 76,840 5,269 14,780 4,447 2,156 3,313 241,972
Global Water Resources (GWRS) 259,071 0% 26.1 1% 266,450 240,088 35,039 0 2,368 14,129 369,107
Consolidated Water (CWCO) 252,958 41% 18.0 6% 182,778 9,837 51,183 21,224 11,562 11,636 209,356
Goldfield (GV) 53,707 0% 4.5 3% 128,335 65,130 136,593 0 3,761 14,842 67,126

Balance Sheet ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash25,00095,33489,91889,161122,383122,359115,960113,03799,25460,77151,56845,561113,788
Accounts Receivable15,93615,47311,93914,31617,76119,59318,45316,48319,49721,43722,57823,96224,441
Inventory6,0306,2465,5726,4598,7108,2288,84910,1779,70315,49614,77017,81018,330
PP&E117,297171,929114,456114,382113,908183,808111,956112,568114,969238,944149,493
Assets427,688536,696523,115519,458558,972554,650546,915545,544549,004725,463723,330722,469797,130
Accounts Payable3,8953,8803,1233,9244,5333,5083,2174,5884,4258,2356,9188,4517,881
Long-Term Debt150,218145,209136,969130,581178,589177,581172,751171,712171,119322,310318,686318,167317,576
Liabilities173,997169,190158,882157,910201,882202,503205,962206,141208,978388,865390,413391,298393,341
Stockholders' Equity253,691367,506364,233361,548357,090352,147340,953339,403340,026336,598332,917331,171403,789
Income Statement ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue28,85829,84929,00830,04329,89332,35732,51434,44536,82441,82546,56251,38752,947
Cost of Revenue14,29515,30815,71417,43615,37216,77715,48916,23917,15719,22122,24724,81526,474
Gross Profit14,56314,54113,29413,87614,52115,58017,02520,71019,66722,60424,31526,57226,473
R&D
SG&A15,11224,89516,48818,11817,73418,68419,57421,12920,82622,86922,86923,518
Tax1,275-2,1782,582864846977746630255876471445
Net Income-4,712-6,346-4,921-2,732-6,729-5,664-3,475-3,937
Cash Flow ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating1,6665,3001,2384,0435,0848,6878,277-4296,97513,665
Cash Investing-48,621-2,497-10,859-2,849-9,500-10,156-20,355-7,166-10,923-18,160
Cash Financing117,289-8,11142,842-1,221-1,976-1,449-1,710-1,616-2,06472,723