Xylem Inc. (XYL) 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 %
Q2 26	$1.34	$1.46	+9.0%	—	$2.3B	—
Q1 26	$1.08	$1.12	+3.7%	—	$2.1B	—
Q4 25	$1.41	$1.42	+0.7%	—	$2.4B	—
Q3 25	$1.23	$1.37	+11.4%	—	$2.3B	—
Q2 25	$1.15	$1.26	+9.6%	—	$2.3B	—
Q1 25	$0.95	$1.03	+8.4%	—	$2.1B	—
Q4 24	$1.13	$1.18	+4.4%	—	$2.3B	—
Q3 24	$1.11	$1.11	0.0%	—	$2.1B	—
Q2 24	$1.05	$1.09	+3.8%	—	$2.2B	—
Q1 24	$0.84	$0.9	+7.1%	—	$2B	—
Q4 23	$0.95	$0.99	+4.2%	—	$2.1B	—
Q3 23	$0.89	$0.99	+11.2%	—	$2.1B	—
Q2 23	$0.81	$0.98	+21.0%	—	$1.7B	—
Q1 23	$0.62	$0.72	+16.1%	—	$1.4B	—
Q4 22	$0.79	$0.92	+16.5%	—	$1.5B	—
Q3 22	$0.66	$0.79	+19.7%	—	$1.4B	—

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	—	$3.93	—	—	$9B	—
FY24	—	$3.67	—	—	$8.6B	—
FY23	—	$2.81	—	—	$7.4B	—
FY22	—	$1.97	—	—	$5.5B

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	$3.8B	$4.7B	$5.2B	$5.2B	$4.9B	$5.2B	$5.5B	$7.4B	$8.6B	$9B
YoY change	+3.23%	+24.8%	+10.6%	+0.81%	-7.11%	+6.54%	+6.29%	+33.4%	+16.3%	+5.52%

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	3.8B	4.7B	5.2B	5.2B	4.9B	5.2B	5.5B	7.4B	8.6B	9B
Cost of revenue	2.3B	2.9B	3.2B	3.2B	3B	3.2B	3.4B	4.6B	5.3B	5.6B
Gross profit	1.5B	1.8B	2B	2B	1.8B	2B	2.1B	2.7B	3.2B	3.5B
Gross margin	38.8%	39.2%	38.9%	39%	37.5%	38%	37.7%	36.9%	37.5%	38.5%
Research & development	110M	181M	189M	191M	187M	204M	206M	232M	230M	226M
Selling, general & administrative	914M	1.1B	1.2B	1.2B	1.1B	1.2B	1.4B	1.8B	1.9B	1.9B
Operating expenses	1B	1.3B	1.4B	1.3B	1.3B	1.4B	1.6B	2B	2.1B	2.1B
Operating income	438M	577M	676M	697M	500M	592M	511M	728M	1.1B	1.3B
Operating margin	11.6%	12.3%	13%	13.3%	10.3%	11.4%	9.25%	9.89%	12.5%	14.7%
Non-operating income, net	-30M	-32M	-13M	-219M	-145M	-12M	-37M	-72M	32M	-143M
Pretax income	340M	466M	585M	416M	285M	511M	440M	635M	1.1B	1.2B
Income tax	80M	136M	36M	15M	31M	84M	85M	26M	197M	231M
Net income	260M	330M	549M	401M	254M	427M	355M	609M	890M	950M
Net margin	6.89%	7.01%	10.5%	7.64%	5.21%	8.22%	6.43%	8.27%	10.4%	10.5%
EBITDA	591M	817M	950M	950M	746M	837M	754M	1.2B	1.8B	1.9B
EPS	1.45	1.84	3.05	2.23	1.41	2.37	1.97	2.81	3.67	3.93
Diluted EPS	1.45	1.83	3.03	2.21	1.4	2.35	1.96	2.79	3.65	3.92

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	2.1B	2.1B	2B	2.2B	2.1B	2.3B	2.1B	2.3B	2.3B	2.4B	2.1B	2.3B
Cost of revenue	1.3B	1.4B	1.3B	1.4B	1.3B	1.4B	1.3B	1.4B	1.4B	1.5B	1.3B	1.4B
Gross profit	764M	756M	752M	819M	784M	857M	768M	892M	883M	932M	803M	963M
Gross margin	36.8%	35.7%	37%	37.8%	37.3%	38%	37.1%	38.8%	38.9%	38.9%	37.8%	41.2%
Research & development	61M	60M	59M	58M	55M	58M	56M	58M	52M	60M	56M	59M
Selling, general & administrative	491M	466M	474M	485M	445M	507M	460M	503M	474M	486M	472M	503M
Operating expenses	552M	526M	533M	543M	500M	565M	516M	561M	526M	546M	528M	562M
Operating income	212M	230M	219M	276M	284M	292M	252M	331M	357M	386M	275M	401M
Operating margin	10.2%	10.9%	10.8%	12.7%	13.5%	12.9%	12.2%	14.4%	15.7%	16.1%	12.9%	17.2%
Non-operating income, net	-13M	-34M	-9M	-18M	-5M	64M	-27M	-23M	-54M	-39M	-27M	-30M
Pretax income	185M	210M	196M	247M	269M	375M	217M	299M	297M	368M	244M	364M
Income tax	33M	-56M	43M	53M	52M	49M	50M	75M	71M	35M	55M	103M
Net income	152M	266M	153M	194M	217M	326M	167M	224M	226M	333M	189M	261M
Net margin	7.32%	12.6%	7.53%	8.94%	10.3%	14.5%	8.07%	9.73%	9.96%	13.9%	8.89%	11.2%
EBITDA	367M	381M	359M	425M	426M	591M	401M	479M	505M	534M	415M	538M
EPS	0.63	—	0.63	0.8	0.89	—	0.69	0.93	0.93	—	0.79	1.11
Diluted EPS	0.63	—	0.63	0.8	0.89	—	0.69	0.93	0.93	—	0.79	1.11

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	8.9B	12.2B	12B	14.2B	18.3B	21.6B	19.9B	—	—	33.1B	23.6B
Enterprise value	10.9B	14B	14B	15.8B	19.6B	22.8B	20.9B	—	—	33.7B	26B
Shares outstanding	179.1M	179.6M	179.8M	180M	180.1M	180.2M	180.2M	217M	242.6M	243.4M	243.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	34.1	37.1	21.9	35.4	72.2	50.6	56.1	—	—	34.9	24.4
P/S	2.35	2.6	2.3	2.7	3.76	4.16	3.61	—	—	3.67	2.63
P/B	4.02	4.86	4.31	4.78	6.16	6.7	5.69	—	—	2.82	2.18
EV/EBITDA	18.5	17.2	14.7	16.7	26.3	27.2	27.8	—	—	17.6	13.1
EV/Sales	2.9	2.98	2.69	3.02	4.02	4.38	3.79	—	—	3.73	2.85
Earnings yield	2.93%	2.69%	4.58%	2.83%	1.39%	1.98%	1.78%	—	—	2.87%	4.09%
FCF yield	4.21%	4.21%	2.91%	4.32%	3.5%	1.53%	1.95%	—	—	2.75%	5.02%
PEG	—	—	—	—	—	—	—	—	—	—	1.26

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	38.8%	39.2%	38.9%	39%	37.5%	38%	37.7%	36.9%	37.5%	38.5%	41.2%
Operating margin	11.6%	12.3%	13%	13.3%	10.3%	11.4%	9.25%	9.89%	12.5%	14.7%	17%
Net margin	6.89%	7.01%	10.5%	7.64%	5.21%	8.22%	6.43%	8.27%	10.4%	10.5%	11.2%
ROE	11.8%	13.1%	19.7%	13.5%	8.53%	13.2%	10.1%	5.98%	8.18%	8.09%	9.18%
ROA	4.02%	4.81%	7.6%	5.2%	2.9%	5.16%	4.46%	3.78%	5.4%	5.39%	5.11%
ROIC	7.85%	9.49%	13.2%	14.5%	10.5%	11.3%	9.15%	6.05%	7.38%	8.65%	9.04%
Return on tangible assets	-21.8%	-32.6%	-46%	-126.9%	29.7%	64.7%	54.3%	-14.8%	-21.1%	-26.6%	-29.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.49	1.88	1.51	1.63	1.8	2.27	1.89	1.76	1.75	1.63	1.61
Quick ratio	1.06	1.41	1.08	1.27	1.52	1.77	1.39	1.3	1.33	1.28	1.24
Debt / equity	1.07	0.87	0.83	0.8	1.06	0.78	0.56	0.23	0.2	0.18	0.29
Debt / assets	0.37	0.32	0.32	0.31	0.36	0.3	0.25	0.15	0.13	0.12	0.18
Net debt / EBITDA	3.49	2.19	2.12	1.74	1.71	1.39	1.33	1.15	0.56	0.3	0.89
Interest coverage	5.86	6.68	8.13	7.21	4.7	7.72	9.8	14	25.7	41.7	56.3
Effective tax rate	23.5%	29.2%	6.15%	3.61%	10.9%	16.4%	19.3%	4.09%	18.1%	19.6%	20.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	21.1	26.2	29	29.2	27.1	28.8	30.6	33.9	35.3	37.1	37.8
EPS (basic)	1.45	1.84	3.05	2.23	1.41	2.37	1.97	2.81	3.67	3.93	3.93
EPS (diluted)	1.45	1.83	3.03	2.21	1.4	2.35	1.96	2.79	3.65	3.92	4.2
Book value per share	12.3	14	15.5	16.5	16.5	17.9	19.4	46.9	44.9	48.3	47.1
FCF per share	2.08	2.87	1.94	3.41	3.56	1.83	2.15	2.61	3.88	3.74	4.06
Cash per share	1.72	2.31	1.65	4.02	10.4	7.49	5.24	4.7	4.62	6.08	5.46
Capex per share	0.01	0.01	0	0	—	0.02	0.02	0	0.02	1.36	1.44

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.03%	0.02%	0%	0%	—	0.06%	0.07%	0.01%	0.05%	3.66%	3.74%
Capex / operating cash flow	0.2%	0.18%	0%	0%	—	0.55%	1.17%	0.11%	0.3%	26.7%	26.2%
Payout ratio	43.1%	39.4%	27.7%	43.4%	74%	47.5%	61.1%	49.1%	39.3%	41.2%	39.5%
Dividend yield	1.26%	1.06%	1.27%	1.23%	1.03%	0.94%	1.09%	—	—	1.18%	1.7%

Yield

1.7%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.43

ex-dividend Aug 27, 2026

Payout ratio

40%

of earnings

Dividend growth

14 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Aug 27, 2026	$0.43
May 28, 2026	$0.43
Feb 24, 2026	$0.43

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	$2.1B	$2.1B	$2B	$2.2B	$2.1B	$2.3B	$2.1B	$2.3B	$2.3B	$2.4B	$2.1B	$2.3B
YoY change	+50.4%	+40.6%	+40.4%	+26%	+1.35%	+6.52%	+1.77%	+6.09%	+7.79%	+6.25%	+2.71%	+1.52%

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	308M	414M	296M	724M	1.9B	1.3B	944M	1B	1.1B	1.5B
Receivables	843M	956M	1B	1B	923M	953M	1.1B	1.6B	1.7B	1.8B
Inventory	522M	524M	595M	539M	558M	700M	799M	1B	996M	983M
Total current assets	1.8B	2.1B	2.1B	2.5B	3.5B	3.2B	3B	3.9B	4.1B	4.6B
Property, plant & equipment	616M	643M	656M	658M	657M	644M	630M	1.2B	1.2B	1.2B
Goodwill & intangibles	7.7B	7.9B	8.4B	8B	7.9B	7.6B	7.3B	20.2B	20.7B	21.2B
Total assets	6.5B	6.9B	7.2B	7.7B	8.8B	8.3B	8B	16.1B	16.5B	17.6B
Accounts payable	457M	549M	586M	597M	569M	639M	723M	968M	1B	1B
Short-term debt	260M	—	257M	337M	663M	69M	69M	122M	147M	655M
Total current liabilities	1.2B	1.1B	1.4B	1.5B	2B	1.4B	1.6B	2.2B	2.3B	2.9B
Long-term debt	2.1B	2.2B	2.1B	2B	2.5B	2.4B	1.9B	2.3B	2B	1.4B
Total liabilities	4.3B	4.3B	4.4B	4.7B	5.8B	5B	4.4B	5.9B	5.6B	5.9B
Shareholders' equity	2.2B	2.5B	2.8B	3B	3B	3.2B	3.5B	10.2B	10.9B	11.7B
Total debt	2.4B	2.2B	2.3B	2.4B	3.1B	2.5B	1.9B	2.4B	2.1B	2.1B
Net debt	2.1B	1.8B	2B	1.7B	1.3B	1.2B	1B	1.4B	1B	584M

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	—	—	—	—	—	—	—	—	1.2B	1.5B	808M	1.3B
Receivables	—	—	—	—	—	—	—	—	1.8B	1.8B	1.8B	1.9B
Inventory	—	—	—	—	—	—	—	—	1B	983M	991M	1B
Total current assets	—	—	—	—	—	—	—	—	4.4B	4.6B	4B	4.4B
Property, plant & equipment	—	—	—	—	—	—	—	—	—	1.2B	—	—
Goodwill & intangibles	3B	2.5B	2.5B	2.4B	2.3B	2.4B	2.3B	2.4B	21.2B	21.2B	21B	20.8B
Total assets	—	—	—	—	—	—	—	—	17.3B	17.6B	17B	17.3B
Accounts payable	—	—	—	—	—	—	—	—	968M	1B	969M	1B
Short-term debt	—	—	—	—	—	—	—	—	176M	655M	654M	660M
Total current liabilities	—	—	—	—	—	—	—	—	2.3B	2.9B	2.8B	2.7B
Long-term debt	—	—	—	—	—	—	—	—	1.9B	1.4B	1.4B	2.4B
Total liabilities	—	—	—	—	—	—	—	—	5.8B	5.9B	5.7B	6.7B
Shareholders' equity	—	—	—	—	—	—	—	—	11.4B	11.7B	11.2B	10.7B
Total debt	—	—	—	—	—	—	—	—	2.1B	2.1B	2.1B	3.1B
Net debt	—	—	—	—	—	—	—	—	898M	584M	1.3B	1.8B

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	260M	330M	549M	401M	254M	427M	355M	609M	890M	950M
Depreciation & amortization	151M	234M	261M	257M	251M	245M	236M	436M	562M	575M
Stock-based compensation	18M	21M	30M	29M	26M	33M	37M	60M	56M	53M
Change in working capital	61M	9M	-170M	57M	87M	-134M	-216M	-98M	-143M	-264M
Operating cash flow	497M	544M	592M	690M	645M	542M	343M	949M	1.3B	1.2B
Capital expenditure	1M	1M	0	0	—	3M	4M	1M	4M	-331M
Investing cash flow	-1.8B	-11M	-406M	-5M	14M	25M	17M	-357M	-161M	-488M
Dividends paid	-112M	-130M	-152M	-174M	-188M	-203M	-217M	-299M	-350M	-391M
Share repurchases	-4M	-25M	-59M	-40M	-61M	-68M	-52M	-25M	-20M	-15M
Financing cash flow	930M	-719M	-99M	-444M	-187M	-874M	-798M	-219M	-950M	-521M
Net change in cash	-335M	-186M	87M	241M	472M	-307M	-438M	373M	227M	232M
Free cash flow	373M	516M	349M	613M	641M	330M	388M	566M	942M	910M

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	152M	266M	153M	194M	217M	326M	169M	226M	222M	333M	189M	261M
Depreciation & amortization	147M	137M	134M	145M	141M	142M	145M	145M	142M	143M	140M	140M
Stock-based compensation	18M	15M	18M	13M	12M	13M	12M	13M	12M	16M	13M	12M
Change in working capital	44M	155M	-218M	-63M	-62M	200M	-314M	-35M	-119M	184M	-216M	-167M
Operating cash flow	364M	569M	84M	303M	306M	681M	23M	355M	360M	543M	108M	290M
Capital expenditure	2M	-1M	1M	2M	0	1M	5M	0	-79M	-83M	-90M	-89M
Investing cash flow	24M	5M	23M	-5M	9M	-189M	56M	-27M	-199M	-144M	-77M	-32M
Dividends paid	-80M	-80M	-88M	-87M	-88M	-87M	-98M	-98M	-97M	-98M	-106M	-101M
Share repurchases	-1M	-15M	-15M	-3M	-1M	-1M	-13M	0	-1M	-1M	-563M	-680M
Financing cash flow	-311M	-102M	-115M	-635M	-104M	-96M	-122M	-130M	-141M	-128M	-683M	-793M
Net change in cash	77M	472M	-8M	-337M	211M	396M	-43M	198M	20M	271M	-652M	-535M
Free cash flow	299M	361M	15M	215M	237M	475M	-38M	207M	281M	460M	18M	201M

Xylem Inc. 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