Zurn Elkay Water Solutions Corp ZWS

Industrials SIC 3560 - General Industrial Machinery & Equipment NAICS Manufacturing › Machinery Manufacturing › Other General Purpose Machinery Manufacturing derived NYSE

Zurn Elkay Water Solutions Corporation ("Zurn Elkay", "we", "us", "our", or the "Company") is a growth-oriented, pure-play water management business that designs, procures, manufactures, and markets what we believe to be the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. Our product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products, and filtered drinking water products for public and private spaces that deliver superior value to building owners, positively impact the environment and human hygiene and reduce product installation time. Our heritage of innovation and specification has allowed us to provide highly-engineered, mission-critical solutions to customers for decades and affords us the privilege of having long-term, valued relationships with market leaders. We operate in a disciplined way and the Zurn Elkay Business System ("ZEBS"), described below, is our operating philosophy. Grounded in the spirit of continuous improvement, ZEBS creates a scalable, process-based framework that focuses on driving superior customer satisfaction and financial results by targeting world-class operating performance throughout all aspects of our business.

Last close 48.55 2026-10-23
Market cap $8.10B 2026-03-31 share count
52-week range 43.06 - 55.00

Valuation FY2025 figures against the last close

P/S4.8x
P/E42.2x
P/FCF23.4x
EV/EBITDA26.9x
Dividend yield0.8%
Diluted EPS1.15

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Canada
  • Rest of world
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 1.6B (91.5%) 91% United States Canada, FY2025: 97.8M (5.8%) 6% Canada Rest of world, FY2025: 47M (2.8%) FY2024 United States, FY2024: 1.4B (91.2%) 91% Canada, FY2024: 90.1M (5.8%) 6% Rest of world, FY2024: 47.5M (3.0%) FY2023 United States, FY2023: 1.4B (92.1%) 92% Canada, FY2023: 78.7M (5.1%) 5% Rest of world, FY2023: 41.7M (2.7%)
Region FY2025FY2024FY2023
United States $1.55B $1.43B $1.41B
Canada $97.8M $90.1M $78.7M
Rest of world $47.0M $47.5M $41.7M

As the company reported it, from the “Revenue Recognition - Schedule of Revenue Disaggregated by Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.70B$1.57B$1.53B$1.28B$910.9M$746.1M$710.1M$2.05B$1.85B$1.71B
Cost of revenue $931.1M$859.5M$882.4M$816.3M$537.7M$407.9M$387.5M$1.27B$1.15B$1.09B
Gross profit $764.8M$707.0M$648.1M$465.5M$373.2M$338.2M$322.6M$784.8M$706.5M$626.4M
R&D ——————$16.2M$16.3M$13.3M$10.4M
SG&A $417.6M$389.8M$371.3M$309.0M$239.0M$206.1M$196.4M$433.1M$393.8M$356.1M
Operating income $278.9M$244.6M$191.4M$107.1M$107.0M$107.7M$104.1M$305.6M$266.4M$203.2M
Interest expense $28.6M$33.1M$38.5M$26.9M$34.7M$45.9M$56.6M$69.9M$75.1M$88.3M
Pre-tax income $256.3M$207.0M$146.8M$83.8M$52.4M$38.1M$23.4M$238.8M$187.1M$107.3M
Income tax $63.9M$48.1M$42.6M$26.8M$2.7M$9.5M$4.4M$53.4M$19.5M$15.6M
Net income $198.0M$160.2M$112.7M$61.7M$120.9M$146.7M$180.1M$34.3M$75.9M$74.1M
EPS, basic 1.170.930.650.411.001.211.480.110.510.65
EPS, diluted 1.150.920.640.400.971.191.450.280.620.64
Shares, diluted (wtd. avg.) 171.3M174.7M177.3M153.8M125.1M123.5M114.3M123.3M122.0M104.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $300.5M$198.0M$136.7M$124.8M$96.6M$62.3M$573.4M$292.5M$217.6M$490.1M
Receivables $184.8M$202.2M$210.2M$219.7M$144.1M$103.6M$334.7M$334.3M$314.7M$322.9M
Inventory $274.4M$272.6M$277.6M$366.7M$184.5M$136.1M$317.5M$316.5M$304.1M$314.9M
Total current assets $811.7M$722.1M$667.8M$757.5M$474.8M$907.7M$1.26B$982.9M$997.7M$1.18B
Property, plant and equipment ——————$378.8M$383.0M$396.5M$400.9M
Goodwill $795.0M$794.2M$796.0M$777.0M$254.1M$244.8M$200.5M$1.30B$1.28B$1.22B
Other intangibles $835.0M$891.6M$952.4M$1.01B$179.1M$200.3M$514.2M$511.5M$530.9M$558.6M
Total assets $2.68B$2.65B$2.67B$2.86B$1.08B$3.40B$3.63B$3.26B$3.42B$3.54B
Accounts payable $65.2M$71.7M$56.4M$116.9M$105.1M$41.3M$185.6M$191.7M$189.9M$197.8M
Short-term debt $900.0K$800.0K$900.0K$5.7M$5.6M$300.0K$76.4M$1.2M$3.9M$16.5M
Total current liabilities $259.4M$247.8M$220.9M$289.3M$240.4M$317.5M$455.5M$397.0M$454.2M$400.3M
Long-term debt $495.6M$494.8M$494.4M$530.2M$533.9M$1.12B$1.40B$1.24B$1.35B$1.61B
Total liabilities $1.08B$1.06B$1.06B$1.25B$951.3M$1.96B$2.31B$2.03B$2.21B$2.47B
Retained earnings -$1.13B-$1.17B-$1.18B-$1.16B-$1.24B$116.0M$85.9M$30.7M$8.0M-$55.5M
Total equity $1.60B$1.59B$1.60B$1.61B$126.4M$1.44B$1.31B$1.23B$1.21B$1.07B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $346.5M$293.5M$253.9M$97.0M$223.6M$320.2M$298.6M$258.1M$228.5M$195.1M
Depreciation and amortisation $30.0M$29.2M$29.2M$20.5M$44.1M$53.2M$51.2M$87.9M$79.7M$96.1M
Stock-based compensation $40.6M$37.9M$40.0M$25.0M$51.4M$44.8M$26.9M$22.6M$20.5M$13.4M
Capital expenditure ——————$41.4M$42.5M$38.0M$50.8M
Investing cash flow -$29.9M-$20.2M-$4.6M-$6.6M-$21.9M-$196.6M-$123.1M-$53.3M-$208.8M-$264.0M
Financing cash flow -$217.3M-$207.5M-$239.2M-$61.1M-$356.2M-$156.2M$114.9M-$116.7M-$308.8M$79.9M
Dividends paid $63.9M$56.6M$50.4M$32.5M$36.4M$38.6M$9.8M$0$0—
Buybacks $159.9M$150.2M$125.1M$24.7M$900.0K$140.0M$100.7M$0$0$0

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 0001628280-26-006372.

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: 1.7B Gross profit, FY2016: 626.4M Net income, FY2016: 74.1M Revenue, FY2017: 1.9B Gross profit, FY2017: 706.5M Net income, FY2017: 75.9M Revenue, FY2018: 2.1B Gross profit, FY2018: 784.8M Net income, FY2018: 34.3M Revenue, FY2019: 710.1M Gross profit, FY2019: 322.6M Net income, FY2019: 180.1M Revenue, FY2020: 746.1M Gross profit, FY2020: 338.2M Net income, FY2020: 146.7M Revenue, FY2021: 910.9M Gross profit, FY2021: 373.2M Net income, FY2021: 120.9M Revenue, FY2022: 1.3B Gross profit, FY2022: 465.5M Net income, FY2022: 61.7M Revenue, FY2023: 1.5B Gross profit, FY2023: 648.1M Net income, FY2023: 112.7M Revenue, FY2024: 1.6B Gross profit, FY2024: 707M Net income, FY2024: 160.2M Revenue, FY2025: 1.7B Gross profit, FY2025: 764.8M Net income, FY2025: 198M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.71B $1.85B $2.05B $710.1M $746.1M $910.9M $1.28B $1.53B $1.57B $1.70B
Gross profit $626.4M $706.5M $784.8M $322.6M $338.2M $373.2M $465.5M $648.1M $707.0M $764.8M
Net income $74.1M $75.9M $34.3M $180.1M $146.7M $120.9M $61.7M $112.7M $160.2M $198.0M

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
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • 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
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • 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
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • 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

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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