Watts Water Technologies, Inc. Class A Common Stock (WTS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$3.34	$3.66	+9.6%	—	—	—
Q4 26	$2.69	$3.04	+13.0%	—	—	—
Q3 26	$2.34	$2.62	+12.0%	—	—	—
Q2 26	$2.26	$2.5	+10.6%	—	—	—
Q1 26	$2.63	$3.09	+17.5%	—	—	—
Q4 25	$2.13	$2.37	+11.3%	—	—	—
Q3 25	$1.91	$2.05	+7.3%	—	—	—
Q2 25	$1.99	$2.03	+2.0%	—	—	—
Q1 25	$2.33	$2.46	+5.6%	—	—	—
Q4 24	$2.1	$2.33	+11.0%	—	—	—
Q3 24	$1.78	$1.97	+10.7%	—	—	—
Q2 24	$1.83	$2.04	+11.5%	—	—	—
Q1 24	$2.04	$2.34	+14.7%	—	—	—
Q4 23	$1.64	$1.92	+17.1%	—	—	—
Q3 23	$1.53	$1.6	+4.6%	—	—	—
Q2 23	$1.55	$1.79	+15.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$10.2	—	—	$2.4B	—
FY24	—	$8.7	—	—	$2.3B	—
FY23	—	$7.85	—	—	$2.1B	—
FY22	—	$7.51	—	—	$2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.4B	$1.5B	$1.6B	$1.6B	$1.5B	$1.8B	$2B	$2.1B	$2.3B	$2.4B
YoY change	-4.72%	+4.17%	+7.43%	+2.27%	-5.74%	+19.9%	+9.41%	+3.88%	+9.53%	+8.27%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.4B	1.5B	1.6B	1.6B	1.5B	1.8B	2B	2.1B	2.3B	2.4B
Cost of revenue	832.8M	854.3M	908.4M	923M	883.2M	1B	1.1B	1.1B	1.2B	1.2B
Gross profit	565.6M	602.4M	656.5M	677.5M	625.4M	767.1M	874.3M	960.9M	1.1B	1.2B
Gross margin	40.4%	41.4%	42%	42.3%	41.5%	42.4%	44.2%	46.7%	47.2%	49.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	424.1M	432.3M	464.7M	476.1M	434.4M	508.2M	550.5M	604.5M	664.4M	734.2M
Operating expenses	424.1M	432.3M	464.7M	476.1M	434.4M	508.2M	550.5M	604.5M	664.4M	734.2M
Operating income	141.5M	170.1M	191.8M	201.4M	191M	258.9M	323.8M	356.4M	397.6M	471.8M
Operating margin	10.1%	11.7%	12.3%	12.6%	12.7%	14.3%	16.4%	17.3%	17.7%	19.3%
Non-operating income, net	7.9M	-8.9M	-1.7M	-3.8M	-10.9M	-18.5M	-9.8M	-5.9M	-5.8M	-25M
Pretax income	127.8M	143.1M	174.6M	183.9M	167M	234.1M	307.6M	349.5M	386M	445.8M
Income tax	43.6M	70M	46.6M	52.4M	52.7M	68.4M	56.1M	87.4M	94.8M	105M
Net income	84.2M	73.1M	128M	131.5M	114.3M	165.7M	251.5M	262.1M	291.2M	340.8M
Net margin	6.02%	5.02%	8.18%	8.22%	7.58%	9.16%	12.7%	12.7%	12.9%	14%
EBITDA	198.1M	222.2M	242.8M	248.9M	236.7M	304.8M	363.1M	406.5M	462.3M	538.7M
EPS	2.45	2.12	3.64	3.86	3.37	4.9	7.51	7.85	8.7	10.2
Diluted EPS	2.44	2.12	3.64	3.85	3.36	4.88	7.48	7.82	8.69	10.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	504.3M	547.5M	570.9M	597.3M	543.6M	540.4M	558M	643.7M	611.7M	625.1M	677.3M	763.2M
Cost of revenue	269.9M	291.9M	303.4M	312.5M	286.5M	287.8M	285.5M	317.8M	313.3M	315.8M	351.2M	389.1M
Gross profit	234.4M	255.6M	267.5M	284.8M	257.1M	252.6M	272.5M	325.9M	298.4M	309.3M	326.1M	374.1M
Gross margin	46.5%	46.7%	46.9%	47.7%	47.3%	46.7%	48.8%	50.6%	48.8%	49.5%	48.1%	49%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	146.9M	173.1M	169.6M	173.1M	159M	162.8M	167.5M	187.2M	185.1M	194.5M	192.9M	214.5M
Operating expenses	146.9M	173.1M	169.6M	173.1M	159M	162.8M	167.5M	187.2M	185.1M	194.5M	192.9M	214.5M
Operating income	87.5M	82.5M	97.9M	111.7M	98.1M	89.8M	105M	138.7M	113.3M	114.8M	133.2M	159.6M
Operating margin	17.4%	15.1%	17.1%	18.7%	18%	16.6%	18.8%	21.5%	18.5%	18.4%	19.7%	20.9%
Non-operating income, net	-500K	-4.6M	-600K	—	-4.3M	-800K	-17.7M	-3.6M	-2.1M	-1.6M	-900K	-5.4M
Pretax income	88.1M	77.3M	95.2M	109.5M	92.3M	89M	86.9M	134.7M	111M	113.2M	131.4M	153.7M
Income tax	22.3M	21.6M	22.6M	27.5M	23.2M	21.4M	12.9M	33.8M	28.8M	29.5M	31.8M	35.4M
Net income	65.8M	55.7M	72.6M	82M	69.1M	67.6M	74M	100.9M	82.2M	83.7M	99.6M	118.3M
Net margin	13%	10.2%	12.7%	13.7%	12.7%	12.5%	13.3%	15.7%	13.4%	13.4%	14.7%	15.5%
EBITDA	100.2M	97.4M	113.9M	127.2M	114.9M	106.2M	120.6M	155.3M	130.4M	132.4M	150.2M	177.8M
EPS	1.97	1.67	2.17	2.44	2.07	2.02	2.21	3.01	2.45	2.5	2.97	3.53
Diluted EPS	1.96	1.67	2.17	2.44	2.06	2.02	2.21	3.01	2.45	2.5	2.97	3.53

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.2B	2.6B	2.2B	3.4B	4.1B	6.6B	4.9B	7B	6.8B	9.2B	12B
Enterprise value	2.6B	2.8B	2.4B	3.5B	4.1B	6.5B	4.7B	6.9B	6.6B	9B	11.8B
Shares outstanding	34.4M	34.4M	34.3M	34.1M	33.9M	33.8M	33.5M	33.4M	33.5M	33.5M	33.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	26.6	35.7	17.3	25.9	36.1	39.6	19.5	26.5	23.4	27.1	31.2
P/S	1.6	1.79	1.41	2.13	2.73	3.63	2.47	3.38	3.02	3.79	4.46
P/B	3.05	3.15	2.48	3.48	3.86	5.59	3.77	4.6	3.99	4.56	5.46
EV/EBITDA	12.9	12.7	9.73	14	17.3	21.2	13	17	14.3	16.8	20.3
EV/Sales	1.83	1.94	1.51	2.18	2.72	3.57	2.39	3.36	2.94	3.71	4.41
Earnings yield	3.75%	2.8%	5.78%	3.87%	2.77%	2.52%	5.13%	3.77%	4.28%	3.69%	3.2%
FCF yield	4.55%	4.78%	6%	4.84%	4.48%	2.35%	4%	4.04%	4.78%	3.85%	1.91%
PEG	—	—	—	—	—	—	—	—	—	—	1.81

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	40.4%	41.4%	42%	42.3%	41.5%	42.4%	44.2%	46.7%	47.2%	49.5%	49%
Operating margin	10.1%	11.7%	12.3%	12.6%	12.7%	14.3%	16.4%	17.3%	17.7%	19.3%	20.9%
Net margin	6.02%	5.02%	8.18%	8.22%	7.58%	9.16%	12.7%	12.7%	12.9%	14%	14.3%
ROE	11.4%	8.82%	14.4%	13.4%	10.7%	14.1%	19.3%	17.3%	17.1%	16.8%	18.8%
ROA	4.78%	4.21%	7.74%	7.63%	6.58%	8.93%	13%	11.3%	12.1%	11.8%	11.6%
ROIC	8.89%	8.31%	13.5%	13.5%	12.5%	17.1%	23.3%	18.3%	19.8%	19.8%	20.1%
Return on tangible assets	28.8%	27.6%	54.8%	50.9%	45.8%	41.7%	48.5%	53.4%	58.6%	59.4%	57%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.93	2.39	2.07	1.75	2.27	2.11	2.51	2.61	2.59	2.51	2.66
Quick ratio	1.36	1.6	1.25	1.11	1.43	1.2	1.52	1.63	1.65	1.49	1.6
Debt / equity	0.88	0.6	0.4	0.32	0.19	0.12	0.11	0.2	0.12	0.1	0.1
Debt / assets	0.37	0.29	0.21	0.18	0.11	0.08	0.08	0.13	0.08	0.07	0.04
Net debt / EBITDA	1.57	0.98	0.61	0.36	-0.09	-0.33	-0.45	-0.13	-0.41	-0.39	-0.41
Interest coverage	6.65	8.49	11.7	14	13.6	38.2	44.9	43.6	27.3	42.3	50.9
Effective tax rate	34.1%	48.9%	26.7%	28.5%	31.6%	29.2%	18.2%	25%	24.6%	23.6%	24.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	40.7	42.3	45.6	46.9	44.5	53.5	59.1	61.6	67.2	72.8	79.9
EPS (basic)	2.45	2.12	3.64	3.86	3.37	4.9	7.51	7.85	8.7	10.2	10.2
EPS (diluted)	2.44	2.12	3.64	3.85	3.36	4.88	7.48	7.82	8.69	10.2	11.4
Book value per share	21.4	24.1	26	28.7	31.6	34.7	38.8	45.3	51	60.5	65.6
FCF per share	2.97	3.63	3.87	4.83	5.46	4.56	5.85	8.42	9.73	10.6	10.4
Cash per share	9.84	8.15	5.95	6.44	6.46	7.16	9.28	10.5	11.5	12.1	10.4
Capex per share	1.04	0.84	0.98	0.85	1.23	0.64	0.68	0.89	0.88	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.57%	1.99%	2.15%	1.82%	2.76%	1.19%	1.16%	1.44%	1.31%	—	—
Capex / operating cash flow	26%	20.8%	20%	14.9%	18.6%	12%	10.3%	8.97%	8%	—	—
Payout ratio	29.1%	35.4%	22.1%	23.9%	27.5%	20.7%	15.7%	17.7%	19.1%	19.6%	19.1%
Dividend yield	1.09%	0.99%	1.28%	0.92%	0.76%	0.52%	0.81%	0.67%	0.81%	0.72%	0.7%

Yield

0.7%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.63

ex-dividend Sep 1, 2026

Payout ratio

19%

of earnings

Dividend growth

13 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.63
Jun 1, 2026	$0.63
Feb 27, 2026	$0.52

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$504.3M	$547.5M	$570.9M	$597.3M	$543.6M	$540.4M	$558M	$643.7M	$611.7M	$625.1M	$677.3M	$763.2M
YoY change	+3.38%	+9.09%	+21%	+12.1%	+7.79%	-1.3%	-2.26%	+7.77%	+12.5%	+15.7%	+21.4%	+18.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	338.4M	280.2M	204.1M	219.7M	218.9M	242M	310.8M	350.1M	386.9M	405.5M
Receivables	198M	216.1M	205.5M	219.8M	197.6M	220.9M	233.8M	259.8M	253.2M	294M
Inventory	239.4M	259.1M	286.8M	270.1M	263.6M	370.7M	375.6M	399.3M	392.1M	524.3M
Total current assets	819.4M	783.6M	721.3M	734.9M	709.5M	861.5M	950.6M	1.1B	1.1B	1.3B
Property, plant & equipment	42.8M	33.9M	36.2M	24.2M	18M	10.1M	13.3M	36.1M	38.8M	53.5M
Goodwill & intangibles	1.5B	1.5B	1.4B	1.5B	1.5B	1.5B	1.4B	1.8B	1.9B	2.3B
Total assets	1.8B	1.7B	1.7B	1.7B	1.7B	1.9B	1.9B	2.3B	2.4B	2.9B
Accounts payable	101.1M	123.8M	127.2M	123.3M	110.1M	143.4M	134.3M	131.8M	148M	182.2M
Short-term debt	139.1M	22.5M	30M	105M	—	—	—	—	—	—
Total current liabilities	425.5M	327.4M	348.7M	419.3M	312.8M	408.5M	378.7M	405.8M	417.9M	512.4M
Long-term debt	511.3M	474.6M	323.4M	204.2M	198.2M	141.9M	147.6M	298.3M	197M	197.7M
Total liabilities	1B	907.5M	762.4M	745.1M	668.4M	682.4M	630.3M	796.1M	689.1M	853.5M
Shareholders' equity	736.3M	829M	891.3M	978M	1.1B	1.2B	1.3B	1.5B	1.7B	2B
Total debt	650.4M	497.1M	353.4M	309.2M	198.2M	141.9M	147.6M	298.3M	197M	197.7M
Net debt	312M	216.9M	149.3M	89.5M	-20.7M	-100.1M	-163.2M	-51.8M	-189.9M	-207.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	362.7M	350.1M	237.1M	279.4M	303.9M	386.9M	336.8M	369.3M	457.7M	405.5M	374.7M	347.9M
Receivables	257.6M	259.8M	305.7M	310.6M	291.6M	253.2M	301.1M	337.5M	323.9M	294M	374.4M	404.4M
Inventory	386.4M	399.3M	423.6M	426.4M	420.4M	392.1M	419.1M	448.5M	458.7M	524.3M	543.1M	546.5M
Total current assets	1B	1.1B	1B	1.1B	1.1B	1.1B	1.1B	1.2B	1.3B	1.3B	1.3B	1.4B
Property, plant & equipment	-416M	36.1M	-428.8M	-429.4M	-445.2M	38.8M	-455.4M	-474.3M	-481.7M	53.5M	-484.7M	-484M
Goodwill & intangibles	1.4B	1.8B	2B	1.9B	1.9B	1.9B	2B	2.1B	2.1B	2.3B	2.3B	2.3B
Total assets	2B	2.3B	2.3B	2.4B	2.4B	2.4B	2.5B	2.6B	2.7B	2.9B	2.9B	3B
Accounts payable	121.2M	131.8M	162.6M	163.2M	141.1M	148M	158.2M	176.9M	156M	182.2M	188.9M	182.1M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	380.3M	405.8M	407.3M	424.6M	417.5M	417.9M	449.5M	468.4M	463.9M	512.4M	496M	513.3M
Long-term debt	98.2M	298.3M	283.5M	258.7M	211.8M	197M	197.2M	197.3M	197.5M	197.7M	197.8M	108M
Total liabilities	565.6M	796.1M	780.6M	765.1M	710M	689.1M	728.5M	752.5M	768.6M	853.5M	843.5M	762.1M
Shareholders' equity	1.5B	1.5B	1.6B	1.6B	1.7B	1.7B	1.8B	1.9B	2B	2B	2.1B	2.2B
Total debt	98.2M	298.3M	283.5M	258.7M	211.8M	197M	197.2M	197.3M	197.5M	197.7M	197.8M	108M
Net debt	-264.5M	-51.8M	46.4M	-20.7M	-92.1M	-189.9M	-139.6M	-172M	-260.2M	-207.8M	-176.9M	-239.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	84.2M	73.1M	128M	131.5M	114.3M	165.7M	251.5M	262.1M	291.2M	340.8M
Depreciation & amortization	51.2M	52.2M	48.5M	46.6M	46.5M	45.1M	39.7M	43.3M	54.4M	58.4M
Stock-based compensation	13.4M	13.9M	13.8M	17.8M	12.7M	22.9M	18.4M	20.2M	19.5M	21.2M
Change in working capital	-12.5M	-6.5M	-6.4M	-2.4M	43.6M	-45.3M	-57.7M	24.4M	16.9M	-84.9M
Operating cash flow	138.1M	139.1M	168.6M	194.8M	224.1M	180.2M	222.3M	331.2M	367.3M	402M
Capital expenditure	-35.9M	-29M	-33.7M	-29.1M	-41.6M	-21.6M	-22.9M	-29.7M	-29.4M	—
Investing cash flow	-114M	-25.8M	-35M	-71.8M	-54.8M	-30.7M	-22.9M	-343.1M	-124.7M	-257.1M
Dividends paid	-24.5M	-25.9M	-28.3M	-31.4M	-31.4M	-34.3M	-39.5M	-46.5M	-55.5M	-66.9M
Share repurchases	-26.8M	-18.2M	-26M	-19.5M	-28.9M	-16M	-69.4M	-16M	-17M	-16M
Financing cash flow	19.5M	-207M	-205.4M	-107.7M	-182.4M	-118.7M	-121.9M	68.9M	-190.5M	-96.9M
Net change in cash	43.6M	-93.7M	-71.8M	15.3M	-13.1M	30.8M	77.5M	57M	52.1M	48M
Free cash flow	102.1M	125M	132.8M	164.8M	185M	154.1M	195.9M	281.1M	325.8M	356.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	65.8M	55.7M	72.6M	81.9M	69.1M	67.6M	74M	100.9M	82.2M	83.7M	99.6M	118.3M
Depreciation & amortization	10.5M	12.5M	13.3M	13.4M	14.1M	13.6M	13.7M	14.5M	14.8M	15.4M	16M	16.3M
Stock-based compensation	5M	5.7M	4M	6M	5.5M	4M	2.9M	6.6M	5.6M	6.1M	5.2M	8.3M
Change in working capital	22.6M	52.9M	-51.3M	1.1M	21.3M	48.1M	-27.2M	-38.2M	-600K	18.6M	-104.7M	-20.5M
Operating cash flow	97.1M	124.9M	39.5M	96.3M	102.7M	131.1M	61M	69.7M	122.4M	154.7M	17.9M	102.9M
Capital expenditure	-7.4M	-10.7M	-9M	-2.2M	-6.2M	-12M	-9.6M	—	—	—	—	—
Investing cash flow	-7.8M	-312M	-109.8M	2.3M	-6.2M	-12M	-79.9M	-15.4M	0	-171.4M	-1.9M	200K
Dividends paid	-12.1M	-12.1M	-12.1M	-14.6M	-14.4M	-14.4M	-14.4M	-17.6M	-17.4M	-17.5M	-17.5M	-21.3M
Share repurchases	-4M	-4.3M	-4M	-4.1M	-4.9M	-4M	-3.9M	-4M	-3.9M	-4.2M	-3.8M	-4.1M
Financing cash flow	-16.9M	182.8M	-44.6M	-44.3M	-67.3M	-34.3M	-29.9M	-22.4M	-22.2M	-22.4M	-34.8M	-116.4M
Net change in cash	72.4M	-4.3M	-114.9M	54.3M	29.2M	84.8M	-48.8M	31.9M	100.2M	-39.1M	-18.8M	-13.3M
Free cash flow	93M	99.2M	35.5M	78.5M	84.3M	127.5M	45.6M	59.5M	110.9M	140.3M	6.6M	91.6M

Date	Ratio
Oct 19, 1999	7204:10000
Mar 16, 1994	2:1

Watts Water Technologies, Inc. Class A Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history