WATTS WATER TECHNOLOGIES INC WTS

Industrials SIC 3490 - Miscellaneous Fabricated Metal Products NAICS Manufacturing › Fabricated Metal Product Manufacturing › Other Fabricated Metal Product Manufacturing derived NYSE

Watts Regulator Co. was founded by Joseph E. Watts in 1874 in Lawrence, Massachusetts. Watts Regulator Co. started as a small machine shop supplying parts to the New England textile mills of the 19th century. Since then, Watts has grown into a global manufacturer and become one of the world's leading providers of water technologies and solutions that are designed to promote safety, energy efficiency, and water conservation for commercial and residential buildings. Watts Water Technologies, Inc. was incorporated in Delaware in 1985 and is the parent company of Watts Regulator Co.

Our strategy is to be the preferred supplier of differentiated products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets of the Americas, Europe, and Asia-Pacific, Middle East and Africa ("APMEA"), our three geographic segments. Within this framework, we focus upon three themes: safety and regulation, energy efficiency and water conservation. This strategy provides us with a platform to increase our earnings through sales growth, both organic and inorganic, and the systematic reduction of manufacturing costs and operational expenses.

Last close 358.73 2026-10-23
Market cap $12.02B estimated share count
52-week range 260.00 - 394.54

Valuation FY2025 figures against the last close

P/S4.9x
P/E35.3x
P/FCF33.7x
EV/EBITDA23.4x
Dividend yield—
Diluted EPS10.17

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.44B$2.25B$2.06B$1.98B$1.81B$1.51B$1.60B$1.56B$1.46B$1.40B
Cost of revenue $1.23B$1.19B$1.10B$1.11B$1.04B$883.2M$923.0M$908.4M$854.3M$832.8M
Gross profit $1.21B$1.06B$960.9M$874.3M$767.1M$625.4M$677.5M$656.5M$602.4M$565.6M
R&D $73.5M$70.4M$67.1M$59.4M$45.6M$42.2M$39.6M$34.5M$29.0M$26.5M
SG&A $734.2M$664.4M$604.5M$548.7M$508.2M$434.4M$476.1M$464.7M$432.3M$424.1M
Operating income $448.1M$390.4M$350.9M$315.0M$239.6M$181.1M$197.1M$188.4M$162.3M$145.0M
Interest expense $10.8M$14.7M$8.2M$7.0M$6.3M$13.3M$14.1M$16.3M$19.1M$22.6M
Pre-tax income $445.8M$386.0M$349.5M$307.6M$234.1M$167.0M$183.9M$174.6M$143.1M$127.8M
Income tax $105.0M$94.8M$87.4M$56.1M$68.4M$52.7M$52.4M$46.6M$70.0M$43.6M
Net income $340.8M$291.2M$262.1M$251.5M$165.7M$114.3M$131.5M$128.0M$73.1M$84.2M
EPS, basic 10.178.707.857.514.903.373.863.732.122.45
EPS, diluted 10.178.697.827.484.883.363.853.732.122.44
Shares, diluted (wtd. avg.) 33.5M33.5M33.5M33.6M33.9M34.0M34.2M34.3M34.4M34.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $405.5M$386.9M$350.1M$310.8M$242.0M$218.9M$219.7M$204.1M$280.2M$338.4M
Receivables $294.0M$253.2M$259.8M$233.8M$220.9M$197.6M$219.8M$205.5M$216.1M$198.0M
Inventory $524.3M$392.1M$399.3M$375.6M$370.7M$263.6M$270.1M$286.8M$259.1M$239.4M
Total current assets $1.29B$1.08B$1.06B$950.6M$861.5M$709.5M$734.9M$721.3M$783.6M$819.4M
Property, plant and equipment $297.1M$254.8M$248.2M$196.8M$200.7M$212.3M$200.0M$201.9M$198.5M$189.7M
Goodwill $780.0M$715.0M$693.0M$589.6M$600.7M$602.4M$581.1M$544.8M$550.5M$532.7M
Other intangibles $294.6M$235.0M$216.1M$113.7M$128.6M$141.8M$151.4M$165.2M$185.2M$202.5M
Total assets $2.88B$2.40B$2.31B$1.93B$1.86B$1.74B$1.72B$1.65B$1.74B$1.76B
Accounts payable $182.2M$148.0M$131.8M$134.3M$143.4M$110.1M$123.3M$127.2M$123.8M$101.1M
Short-term debt ——————$105.0M$30.0M$22.5M$139.1M
Total current liabilities $512.4M$417.9M$405.8M$378.7M$408.5M$312.8M$419.3M$348.7M$327.4M$425.5M
Long-term debt $197.7M$197.0M$298.3M$147.6M$141.9M$198.2M$204.2M$323.4M$474.6M$511.3M
Retained earnings $1.43B$1.18B$979.1M$795.3M$665.9M$560.1M$513.9M$440.7M$372.9M$348.5M
Total equity $2.03B$1.71B$1.51B$1.30B$1.17B$1.07B$978.0M$891.3M$829.0M$736.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $402.0M$361.1M$310.8M$224.0M$180.8M$228.8M$194.0M$169.4M$155.9M$138.1M
Depreciation and amortisation $56.8M$54.4M$43.3M$39.7M$45.1M$46.5M$46.6M$48.5M$52.2M$51.2M
Stock-based compensation $21.2M$19.5M$20.2M$18.4M$22.9M$12.7M$17.8M$13.8M$13.9M$13.4M
Capital expenditure $45.7M$35.3M$29.7M$28.1M$26.7M$43.8M$29.2M$35.9M$29.4M$36.0M
Investing cash flow -$302.8M-$124.7M-$343.1M-$22.9M-$30.7M-$54.8M-$71.8M-$35.9M-$27.3M-$114.0M
Financing cash flow -$96.9M-$190.5M$69.0M-$121.7M-$118.6M-$181.9M-$105.6M-$202.9M-$205.3M$27.7M
Buybacks $16.0M$17.0M$16.0M$69.4M$16.0M$28.9M$19.5M$26.0M$18.2M$26.8M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-018541.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 1B 2B 3B Revenue, FY2016: 1.4B Gross profit, FY2016: 565.6M Net income, FY2016: 84.2M Revenue, FY2017: 1.5B Gross profit, FY2017: 602.4M Net income, FY2017: 73.1M Revenue, FY2018: 1.6B Gross profit, FY2018: 656.5M Net income, FY2018: 128M Revenue, FY2019: 1.6B Gross profit, FY2019: 677.5M Net income, FY2019: 131.5M Revenue, FY2020: 1.5B Gross profit, FY2020: 625.4M Net income, FY2020: 114.3M Revenue, FY2021: 1.8B Gross profit, FY2021: 767.1M Net income, FY2021: 165.7M Revenue, FY2022: 2B Gross profit, FY2022: 874.3M Net income, FY2022: 251.5M Revenue, FY2023: 2.1B Gross profit, FY2023: 960.9M Net income, FY2023: 262.1M Revenue, FY2024: 2.3B Gross profit, FY2024: 1.1B Net income, FY2024: 291.2M Revenue, FY2025: 2.4B Gross profit, FY2025: 1.2B Net income, FY2025: 340.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.40B $1.46B $1.56B $1.60B $1.51B $1.81B $1.98B $2.06B $2.25B $2.44B
Gross profit $565.6M $602.4M $656.5M $677.5M $625.4M $767.1M $874.3M $960.9M $1.06B $1.21B
Net income $84.2M $73.1M $128.0M $131.5M $114.3M $165.7M $251.5M $262.1M $291.2M $340.8M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote Item 5.07

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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