Flowserve Corp Financials
This page shows Flowserve Corp (FLS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Flowserve’s recent earnings engine is better cash conversion, with working-capital efficiency and low capex preserving more cash from each sale.
By FY2025, Flowserve was producing more sales with less cash trapped in stock: revenue reached$4.7B while inventory fell to$790M . That working-capital release, combined with light reinvestment needs, helps explain why operating cash flow reached$506M and free cash flow$435M , turning a FY2022 cash squeeze into a cash-surplus model.
The margin stack improved unevenly, with gross profitability stronger than companywide cost control. Operating margin fell from FY2024’s
This is a cash-generative, low-capex setup: FY2025 capex was only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Flowserve Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Flowserve Corp has an operating margin of 8.5%, meaning the company retains $8 of operating profit per $100 of revenue. This strong profitability earns a score of 70/100, reflecting efficient cost management and pricing power. This is down from 10.1% the prior year.
Flowserve Corp's revenue grew a modest 3.8% year-over-year to $4.7B. This slow but positive growth earns a score of 49/100.
Flowserve Corp has a moderate D/E ratio of 0.70. This balance of debt and equity financing earns a leverage score of 36/100.
Flowserve Corp's current ratio of 2.03 indicates adequate short-term liquidity, earning a score of 58/100. The company can meet its near-term obligations, though with limited headroom.
Flowserve Corp has a free cash flow margin of 9.2%, earning a moderate score of 61/100. The company generates positive cash flow after capital investments, but with room for improvement.
Flowserve Corp earns a strong 15.8% return on equity (ROE), meaning it generates $16 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 71/100. This is up from 14.1% the prior year.
Flowserve Corp scores 3.95, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Flowserve Corp passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Flowserve Corp generates $1.46 in operating cash flow ($505.9M OCF vs $346.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Flowserve Corp earns $5.1 in operating income for every $1 of interest expense ($399.9M vs $77.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Flowserve Corp generated $4.7B in revenue in fiscal year 2025. This represents an increase of 3.8% from the prior year.
Flowserve Corp's EBITDA was $495.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 9.6% from the prior year.
Flowserve Corp reported $346.2M in net income in fiscal year 2025. This represents an increase of 22.5% from the prior year.
Flowserve Corp earned $2.64 per diluted share (EPS) in fiscal year 2025. This represents an increase of 23.4% from the prior year.
Cash & Balance Sheet
Flowserve Corp generated $435.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 26.3% from the prior year.
Flowserve Corp held $760.2M in cash against $1.5B in long-term debt as of fiscal year 2025.
Flowserve Corp paid $0.84 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Flowserve Corp had 127M shares outstanding in fiscal year 2025.
Margins & Returns
Flowserve Corp's gross margin was 33.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.0 percentage points from the prior year.
Flowserve Corp's operating margin was 8.5% in fiscal year 2025, reflecting core business profitability. This is down 1.7 percentage points from the prior year.
Flowserve Corp's net profit margin was 7.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.1 percentage points from the prior year.
Flowserve Corp's ROE was 15.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the prior year.
Capital Allocation
Flowserve Corp invested $54.1M in research and development in fiscal year 2025. This represents a decrease of 22.6% from the prior year.
Flowserve Corp spent $254.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 1169.9% from the prior year.
Flowserve Corp invested $70.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 12.5% from the prior year.
FLS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B-12.6% | $1.2B+4.1% | $1.2B-1.1% | $1.2B+3.8% | $1.1B-3.0% | $1.2B+4.2% | $1.1B-2.1% | $1.2B |
| Cost of Revenue | $688.4M-13.6% | $797.0M+0.4% | $794.1M+1.6% | $781.5M+0.8% | $775.2M-4.1% | $808.2M+4.2% | $776.0M-1.9% | $790.8M |
| Gross Profit | $379.8M-10.7% | $425.2M+11.8% | $380.3M-6.5% | $406.6M+10.1% | $369.3M-0.7% | $372.1M+4.2% | $357.1M-2.5% | $366.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $263.4M+6.3% | $247.9M-18.8% | $305.2M+14.8% | $265.9M+9.3% | $243.2M-3.5% | $252.0M-2.7% | $259.0M+8.5% | $238.6M |
| Operating Income | $119.4M+183.2% | $42.2M-46.8% | $79.3M-45.9% | $146.6M+11.1% | $131.9M+5.8% | $124.7M+20.8% | $103.2M-14.9% | $121.3M |
| Interest Expense | $20.4M+4.4% | $19.6M+4.5% | $18.7M-7.5% | $20.3M+5.6% | $19.2M-6.4% | $20.5M+23.5% | $16.6M-2.0% | $16.9M |
| Income Tax | $21.1M-25.9% | $28.5M-69.5% | $93.7M+499.2% | $15.6M-11.9% | $17.7M-20.1% | $22.2M+18.5% | $18.7M-21.4% | $23.8M |
| Net Income | $81.7M+381.7% | -$29.0M-113.2% | $219.6M+168.6% | $81.8M+10.6% | $73.9M-4.7% | $77.5M+32.8% | $58.4M-19.6% | $72.6M |
| EPS (Diluted) | $0.64 | N/A | $1.67+169.4% | $0.62+10.7% | $0.56 | N/A | $0.44-20.0% | $0.55 |
FLS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.7B+0.4% | $5.7B-2.1% | $5.8B+2.6% | $5.7B+3.6% | $5.5B-0.3% | $5.5B+4.3% | $5.3B+2.1% | $5.2B |
| Current Assets | $3.1B+0.4% | $3.0B-3.9% | $3.2B+5.4% | $3.0B+4.9% | $2.9B-1.4% | $2.9B+1.2% | $2.9B+1.9% | $2.8B |
| Cash & Equivalents | $792.4M+4.2% | $760.2M-8.8% | $833.8M+32.5% | $629.2M+16.3% | $540.8M-19.9% | $675.4M+10.4% | $611.7M+18.8% | $515.1M |
| Inventory | $809.6M+2.5% | $789.9M-6.8% | $847.7M-1.9% | $864.5M+2.7% | $841.5M+0.5% | $837.3M-2.9% | $862.5M+1.3% | $851.3M |
| Accounts Receivable | $959.0M-6.8% | $1.0B-2.0% | $1.0B0.0% | $1.0B+0.6% | $1.0B+6.9% | $976.7M+0.6% | $971.3M-5.9% | $1.0B |
| Goodwill | $1.4B-0.8% | $1.4B+3.6% | $1.3B+0.4% | $1.3B+2.7% | $1.3B+1.3% | $1.3B+8.2% | $1.2B+1.5% | $1.2B |
| Total Liabilities | $3.5B+0.1% | $3.5B-1.4% | $3.6B+3.1% | $3.5B+1.6% | $3.4B-2.6% | $3.5B+8.5% | $3.2B+0.8% | $3.2B |
| Current Liabilities | $1.4B-8.3% | $1.5B-0.2% | $1.5B+5.2% | $1.4B+3.5% | $1.4B-5.8% | $1.5B+1.9% | $1.4B+2.4% | $1.4B |
| Long-Term Debt | $1.7B+9.0% | $1.5B+6.2% | $1.4B-0.4% | $1.4B-0.7% | $1.5B-0.6% | $1.5B+24.5% | $1.2B-3.2% | $1.2B |
| Total Equity | $2.2B+1.0% | $2.2B-3.2% | $2.3B+1.9% | $2.2B+6.9% | $2.1B+3.6% | $2.0B-2.3% | $2.1B+4.3% | $2.0B |
| Retained Earnings | $4.3B+1.2% | $4.3B-1.3% | $4.3B+4.7% | $4.1B+1.3% | $4.1B+1.1% | $4.0B+1.3% | $4.0B+0.8% | $3.9B |
FLS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$43.1M-24658.6% | -$174K-100.0% | $401.8M+160.7% | $154.1M+408.7% | -$49.9M-125.3% | $197.3M+10.6% | $178.5M+1496.4% | -$12.8M |
| Capital Expenditures | $16.9M-33.5% | $25.4M+47.7% | $17.2M+3.6% | $16.6M+41.4% | $11.7M-59.3% | $28.9M+20.8% | $23.9M+62.7% | $14.7M |
| Free Cash Flow | -$60.0M-134.6% | -$25.6M-106.6% | $384.7M+179.7% | $137.5M+323.0% | -$61.7M-136.6% | $168.5M+9.0% | $154.6M+663.0% | -$27.5M |
| Investing Cash Flow | -$7.2M+91.1% | -$80.7M-374.8% | -$17.0M-4.9% | -$16.2M-43.6% | -$11.3M+96.6% | -$333.1M-1286.7% | -$24.0M-45.6% | -$16.5M |
| Financing Cash Flow | $88.5M+2102.5% | $4.0M+102.3% | -$176.5M-151.4% | -$70.2M+16.6% | -$84.2M-137.5% | $224.9M+418.1% | -$70.7M-503.3% | $17.5M |
| Dividends Paid | $26.7M-0.9% | $27.0M-1.8% | $27.5M-0.5% | $27.6M-0.1% | $27.6M+0.1% | $27.6M0.0% | $27.6M-0.1% | $27.6M |
| Share Buybacks | $0-100.0% | $56.9M-60.8% | $145.1M+357.7% | $31.7M+50.4% | $21.1M | $0-100.0% | $3.9M-71.3% | $13.6M |
FLS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.6%+0.8pp | 34.8%+2.4pp | 32.4%-1.8pp | 34.2%+2.0pp | 32.3%+0.7pp | 31.5%+0.0pp | 31.5%-0.1pp | 31.6% |
| Operating Margin | 11.2%+7.7pp | 3.5%-3.3pp | 6.8%-5.6pp | 12.3%+0.8pp | 11.5%+0.9pp | 10.6%+1.5pp | 9.1%-1.4pp | 10.5% |
| Net Margin | 7.6%+10.0pp | -2.4%-21.1pp | 18.7%+11.8pp | 6.9%+0.4pp | 6.5%-0.1pp | 6.6%+1.4pp | 5.1%-1.1pp | 6.3% |
| Return on Equity | 3.7%+5.0pp | -1.3%-11.0pp | 9.7%+6.0pp | 3.7%+0.1pp | 3.5%-0.3pp | 3.9%+1.0pp | 2.8%-0.9pp | 3.7% |
| Return on Assets | 1.4%+1.9pp | -0.5%-4.3pp | 3.8%+2.3pp | 1.4%+0.1pp | 1.4%-0.1pp | 1.4%+0.3pp | 1.1%-0.3pp | 1.4% |
| Current Ratio | 2.22+0.2 | 2.03-0.1 | 2.100.0 | 2.10+0.0 | 2.07+0.1 | 1.98-0.0 | 1.990.0 | 2.00 |
| Debt-to-Equity | 0.75+0.1 | 0.70+0.1 | 0.63-0.0 | 0.65-0.0 | 0.70-0.0 | 0.73+0.2 | 0.57-0.0 | 0.61 |
| FCF Margin | -5.6%-3.5pp | -2.1%-34.8pp | 32.8%+21.2pp | 11.6%+17.0pp | -5.4%-19.7pp | 14.3%+0.6pp | 13.6%+16.0pp | -2.4% |
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Frequently Asked Questions
What is Flowserve Corp's annual revenue?
Flowserve Corp (FLS) reported $4.7B in total revenue for fiscal year 2025. This represents a 3.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Flowserve Corp's revenue growing?
Flowserve Corp (FLS) revenue grew by 3.8% year-over-year, from $4.6B to $4.7B in fiscal year 2025.
Is Flowserve Corp profitable?
Yes, Flowserve Corp (FLS) reported a net income of $346.2M in fiscal year 2025, with a net profit margin of 7.3%.
What is Flowserve Corp's EBITDA?
Flowserve Corp (FLS) had EBITDA of $495.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Flowserve Corp have?
As of fiscal year 2025, Flowserve Corp (FLS) had $760.2M in cash and equivalents against $1.5B in long-term debt.
What is Flowserve Corp's gross margin?
Flowserve Corp (FLS) had a gross margin of 33.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Flowserve Corp's operating margin?
Flowserve Corp (FLS) had an operating margin of 8.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Flowserve Corp's net profit margin?
Flowserve Corp (FLS) had a net profit margin of 7.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Flowserve Corp pay dividends?
Yes, Flowserve Corp (FLS) paid $0.84 per share in dividends during fiscal year 2025.
What is Flowserve Corp's return on equity (ROE)?
Flowserve Corp (FLS) has a return on equity of 15.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Flowserve Corp's free cash flow?
Flowserve Corp (FLS) generated $435.0M in free cash flow during fiscal year 2025. This represents a 26.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Flowserve Corp's operating cash flow?
Flowserve Corp (FLS) generated $505.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Flowserve Corp's total assets?
Flowserve Corp (FLS) had $5.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Flowserve Corp's capital expenditures?
Flowserve Corp (FLS) invested $70.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Flowserve Corp spend on research and development?
Flowserve Corp (FLS) invested $54.1M in research and development during fiscal year 2025.
What is Flowserve Corp's current ratio?
Flowserve Corp (FLS) had a current ratio of 2.03 as of fiscal year 2025, which is generally considered healthy.
What is Flowserve Corp's debt-to-equity ratio?
Flowserve Corp (FLS) had a debt-to-equity ratio of 0.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Flowserve Corp's return on assets (ROA)?
Flowserve Corp (FLS) had a return on assets of 6.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Flowserve Corp's Altman Z-Score?
Flowserve Corp (FLS) has an Altman Z-Score of 3.95, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Flowserve Corp's Piotroski F-Score?
Flowserve Corp (FLS) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Flowserve Corp's earnings high quality?
Flowserve Corp (FLS) has an earnings quality ratio of 1.46x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Flowserve Corp cover its interest payments?
Flowserve Corp (FLS) has an interest coverage ratio of 5.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Flowserve Corp?
Flowserve Corp (FLS) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.