Introduction: Water collection, treatment and distribution companies in Spain face challenges due to climate variability, obsolete infrastructures and the need for efficient water resource management. This study provides a comprehensive and up-to-date analysis of the financial and operational performance of the sector, addressing climate change adaptations and innovative technologies, areas little explored in previous studies. Methodology: A quantitative analysis of financial and operational data from official sources was carried out, complemented by a literature review on water resources management and technological trends. Includes financial data collection and analysis, profitability assessment, and analysis of climate change adaptation technologies and strategies. Results and discussions: An improvement in the profitability of the sector was observed, due to efficient management and modernisation of infrastructures. Public-private collaboration and the adoption of innovative technologies, such as desalination and reuse of recycled water, are crucial to address climate challenges and ensure sustainability. It also highlights the need for a global approach to water management due to the externalisation of water stress. Conclusions: In conclusion, it emphasises innovation and collaboration to improve water management in Spain, ensuring its sustainability and future resilience.