Select Water Solutions, Inc. (WTTR) Financials

WTTR

Trailing 12 months to June 30, 2026

Revenue $1.4B -2.0% YoY

Net Income $32.0M -3.2% YoY

Free Cash Flow -$82.0M -253.8% YoY

Operating Cash Flow $234.1M +18.7% YoY

Market Cap $2.5B as of Oct 13, 2026

Price / Sales 1.7x on $1.4B revenue, trailing 12 months to June 30, 2026

Price / Earnings 77.9x on $32.0M net income, trailing 12 months to June 30, 2026

Price / Book 2.4x on $1.0B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WTTR SEC filings page.

Select Water Solutions, Inc. (WTTR) reported $1.4B in revenue over the twelve months to Jun 30, 2026, down 2.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).

Rhea AI WTTR FY2025 2026-10-04

The business remains profitable on paper, but expansion has turned free cash flow negative while debt and capital spending climb.

From FY2023 through FY2025, operating cash flow stayed above $214.7M while free cash flow fell to -$79.9M, showing that accounting profits still become cash but not cash the company retains. Capital expenditures rose from $135.9M to $294.6M over that span, making reinvestment—not weak cash collection—the main reason free cash flow turned negative.

As revenue contracted, gross margin stayed around 15%, so the later profit squeeze appears below gross profit rather than in direct production costs. Operating margin fell to 2.0% by FY2025 while interest expense reached $23.2M, combining weaker operating performance with a heavier financing drag.

The balance sheet is becoming less flexible: the current ratio has declined while debt-to-equity has risen, even though operating cash flow remains positive. That combination indicates investment is increasingly supported by financing alongside internally generated cash, rather than by retained free cash flow alone.

Financial Health Signals

Financial Health Score 26/100

Scored as: Energy peer group

Scored against energy 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 Select Water Solutions, Inc.'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.

Profitability

Select Water Solutions, Inc. has an operating margin of 2.1%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 19/100, suggesting thin profitability after operating expenses. This is down from 3.8% the prior year.

Growth

Select Water Solutions, Inc.'s revenue declined 3.1% year-over-year, from $1.5B to $1.4B. This contraction results in a growth score of 26/100.

Leverage

Select Water Solutions, Inc. has elevated debt relative to equity (D/E of 0.35), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 2/100, reflecting increased financial risk.

Liquidity

Select Water Solutions, Inc.'s current ratio of 1.57 indicates adequate short-term liquidity, earning a score of 59/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Select Water Solutions, Inc. generated $214.7M in operating cash flow, capex of $294.6M consumed most of it, leaving -$79.9M in free cash flow. This results in a low score of 27/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Select Water Solutions, Inc. generates a 2.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100. This is down from 3.9% the prior year.

Altman Z-Score Safe

3.11

Select Water Solutions, Inc. scores 3.11, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.5B) relative to total liabilities ($668.5M). 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.

Piotroski F-Score Partial

3/8

Select Water Solutions, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

10.12x

For every $1 of reported earnings, Select Water Solutions, Inc. generates $10.12 in operating cash flow ($214.7M OCF vs $21.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.24x

Select Water Solutions, Inc. earns $1.24 in operating income for every $1 of interest expense ($28.8M vs $23.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$395.8M

YoY+8.7%

QoQ+8.2%

5Y CAGR+19.7%

10Y CAGR+20.2%

Select Water Solutions, Inc. generated $395.8M in revenue in Q2 2026. This represents an increase of 8.7% from the same quarter a year earlier. Against the prior quarter it is up 8.2%.

EBITDA

$35.6M

YoY+105.0%

QoQ+86.2%

5Y CAGR+61.2%

Select Water Solutions, Inc.'s EBITDA was $35.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 105.0% from the same quarter a year earlier. Against the prior quarter it is up 86.2%.

Net Income

$21.0M

YoY+97.6%

QoQ+144.4%

Select Water Solutions, Inc. reported $21.0M in net income in Q2 2026. This represents an increase of 97.6% from the same quarter a year earlier. Against the prior quarter it is up 144.4%.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$15.7M

YoY+394.2%

QoQ+123.1%

Select Water Solutions, Inc. generated $15.7M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 394.2% from the same quarter a year earlier. Against the prior quarter it is up 123.1%.

Cash & Debt

$33.4M

YoY-34.8%

QoQ-40.3%

5Y CAGR-25.3%

10Y CAGR+28.9%

Select Water Solutions, Inc. held $33.4M in cash against $196.4M in long-term debt as of Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Shares Outstanding

Not reported for Q2 2026.

Margins & Returns

Gross Margin

19.4%

YoY+3.6pp

QoQ+1.6pp

5Y change+20.4pp

10Y change+46.9pp

Select Water Solutions, Inc.'s gross margin was 19.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 3.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.6 percentage points.

Operating Margin

8.7%

YoY+4.4pp

QoQ+3.8pp

5Y change+20.1pp

Select Water Solutions, Inc.'s operating margin was 8.7% in Q2 2026, reflecting core business profitability. This is up 4.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.8 percentage points.

Net Margin

5.3%

YoY+2.4pp

QoQ+3.0pp

5Y change+15.6pp

Select Water Solutions, Inc.'s net profit margin was 5.3% in Q2 2026, showing the share of revenue converted to profit. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.0 percentage points.

Return on Equity

2.0%

YoY+0.7pp

QoQ+1.1pp

5Y change+5.0pp

Select Water Solutions, Inc.'s ROE was 2.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.

Capital Allocation

Share Buybacks

$621K

YoY+117.1%

QoQ-91.8%

5Y CAGR+13.3%

Select Water Solutions, Inc. spent $621K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 117.1% from the same quarter a year earlier. Against the prior quarter it is down 91.8%.

Capital Expenditures

$71.0M

YoY-10.6%

QoQ-9.4%

5Y CAGR+53.0%

10Y CAGR+36.4%

Select Water Solutions, Inc. invested $71.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 10.6% from the same quarter a year earlier. Against the prior quarter it is down 9.4%.

R&D Spending

Not reported for Q2 2026.

WTTR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WTTR quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$1.4B	$1.4B-3.1%	$1.5B-8.4%	$1.6B+14.3%	$1.4B+81.5%	$764.6M+26.4%	$605.1M-53.2%	$1.3B-15.5%	$1.5B+120.8%	$692.5M+129.0%	$302.4M-43.5%	$535.6M
Cost of Revenue	$1.2B	$1.2B-2.2%	$1.2B-8.9%	$1.4B+10.4%	$1.2B+64.9%	$743.8M+17.2%	$634.4M-44.5%	$1.1B-14.1%	$1.3B+109.6%	$634.7M+83.2%	$346.5M-33.8%	$523.3M
Gross Profit	$231.0M	$202.4M-7.8%	$219.5M-5.3%	$231.7M+44.1%	$160.8M+670.6%	$20.9M+171.3%	-$29.3M-119.7%	$148.7M-25.1%	$198.5M+243.5%	$57.8M+230.9%	-$44.1M-460.4%	$12.2M
SG&A Expenses	$166.7M	$161.3M+0.8%	$160.0M+2.8%	$155.5M+30.8%	$118.9M+43.2%	$83.1M+11.7%	$74.4M-33.4%	$111.6M+8.2%	$103.2M+25.2%	$82.4M+137.9%	$34.6M-38.7%	$56.5M
Operating Income	$50.2M	$28.8M-47.1%	$54.5M-10.9%	$61.2M+56.2%	$39.2M+159.8%	-$65.5M+83.4%	-$394.8M-1810.9%	$23.1M-62.6%	$61.7M+305.6%	-$30.0M+90.0%	-$299.0M-334.7%	-$68.8M
EBITDA	N/A	$34.1M-41.1%	$57.9M-8.8%	$63.5M-59.0%	$154.9M+475.4%	$26.9M+109.2%	-$293.1M-303.9%	$143.7M-26.4%	$195.4M+166.0%	$73.5M+136.4%	-$201.9M-618.4%	$38.9M
Interest Expense	$23.6M	$23.2M+232.8%	$7.0M+58.5%	$4.4M+62.7%	$2.7M+57.8%	$1.7M-19.9%	$2.1M-20.5%	$2.7M-49.4%	$5.3M-19.9%	$6.6M-58.9%	$16.1M+17.8%	$13.7M
Income Tax	-$230K	-$1.6M-111.9%	$13.6M+122.5%	-$60.2M-6390.1%	$957K+551.0%	$147K+110.0%	-$1.5M-175.7%	$1.9M+14.4%	$1.7M+300.2%	-$851K-62.4%	-$524K-261.7%	$324K
Net Income	$32.0M	$21.2M-30.7%	$30.6M-58.8%	$74.4M+54.1%	$48.3M+214.3%	-$42.2M+87.5%	-$338.7M-12265.4%	$2.8M-92.4%	$36.5M+317.1%	-$16.8M-1512.3%	-$1.0M+98.7%	-$81.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$395.8M+8.7%	$366.0M-2.3%	$346.5M-0.7%	$322.2M-13.2%	$364.2M-0.3%	$374.4M+2.1%	$349.0M-6.9%	$371.3M-4.6%
Cost of Revenue	$319.0M+4.1%	$300.7M-5.6%	$301.2M-1.2%	$278.7M-9.8%	$306.5M+0.5%	$318.6M+1.5%	$304.9M-4.8%	$308.9M-7.2%
Gross Profit	$76.8M+33.1%	$65.3M+17.1%	$45.3M+2.6%	$43.6M-30.3%	$57.8M-4.0%	$55.8M+5.9%	$44.2M-19.0%	$62.4M+11.0%
SG&A Expenses	$41.2M+5.8%	$40.6M+8.3%	$43.3M+8.9%	$41.7M+11.8%	$38.9M-0.1%	$37.4M-14.9%	$39.7M-14.3%	$37.3M-4.4%
Operating Income	$34.3M+122.7%	$18.0M+15.6%	-$388K-114.9%	-$1.8M-107.2%	$15.4M-24.3%	$15.5M+121.9%	$2.6M-61.1%	$24.5M+46.4%
EBITDA	$35.6M+105.0%	$19.1M+15.9%	$780K-76.7%	-$462K-101.8%	$17.3M-17.9%	$16.5M+99.3%	$3.3M+103.5%	$25.2M-51.5%
Interest Expense	$5.0M-11.1%	$5.9M+21.1%	$6.7M+280.3%	$6.0M+212.9%	$5.6M+178.6%	$4.9M+283.3%	$1.8M+1609.7%	$1.9M+149.2%
Income Tax	$6.4M+40.7%	$2.4M-15.9%	-$9.5M-510.3%	$434K-92.6%	$4.5M+14.2%	$2.9M+99.3%	$2.3M+103.8%	$5.9M+1111.6%
Net Income	$21.0M+97.6%	$8.6M+4.5%	-$346K+78.9%	$2.7M-83.0%	$10.6M-17.3%	$8.2M+127.3%	-$1.6M-105.9%	$15.8M+10.1%

Not reported in any period shown, so not listed: R&D Expenses, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

WTTR Balance Sheet

WTTR quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$1.6B+16.8%	$1.4B+12.2%	$1.2B-0.4%	$1.2B+28.7%	$950.2M+8.5%	$875.4M-35.0%	$1.3B-1.0%	$1.4B+0.3%	$1.4B+234.9%	$405.1M	N/A
Current Assets	$354.4M-8.1%	$385.5M-15.1%	$454.1M-12.3%	$517.9M+31.2%	$394.8M+12.3%	$351.5M-15.4%	$415.6M-3.8%	$432.2M-3.2%	$446.5M+258.2%	$124.7M	N/A
Cash & Equivalents	$18.1M-9.5%	$20.0M-65.0%	$57.1M+679.6%	$7.3M-91.5%	$85.8M-49.2%	$169.0M+113.2%	$79.3M+359.9%	$17.2M+521.4%	$2.8M-93.1%	$40.0M0.0%	$40.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$34.3M-10.8%	$38.4M-0.5%	$38.7M-6.1%	$41.2M-7.4%	$44.5M+33.2%	$33.4M-11.1%	$37.5M-16.6%	$45.0M+0.9%	$44.6M+4355.3%	$1.0M	N/A
Accounts Receivable	N/A	N/A	N/A	$430.0M+84.7%	$232.8M+79.9%	$129.4M-51.7%	$267.6M-21.7%	$341.7M-8.5%	$373.6M+392.3%	$75.9M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$48.5M+166.2%	$18.2M+289.0%	$4.7M	N/A	N/A	N/A	$266.9M-2.5%	$273.8M+0.1%	$273.4M+2133.5%	$12.2M-91.9%	$150.8M
Total Liabilities	$668.5M+48.3%	$450.7M+38.3%	$326.0M-3.9%	$339.1M+33.0%	$255.0M+50.5%	$169.5M-27.8%	$234.8M-55.5%	$527.7M-24.6%	$699.7M+139.3%	$292.4M	N/A
Current Liabilities	$225.7M-3.3%	$233.4M+10.3%	$211.5M-8.5%	$231.3M+42.7%	$162.0M+82.6%	$88.8M-41.6%	$151.9M-15.5%	$179.7M-3.0%	$185.2M+299.3%	$46.4M	N/A
Non-Current Liabilities	$442.8M+103.7%	$217.4M+89.9%	$114.5M+6.2%	$107.8M+16.0%	$93.0M+15.2%	$80.7M-2.7%	$82.9M-76.2%	$348.0M-32.4%	$514.5M+109.2%	$246.0M	N/A
Long-Term Debt	$285.0M+235.3%	$85.0M	N/A	$16.0M	N/A	N/A	N/A	$45.0M-40.0%	$75.0M	N/A	N/A
Total Equity	$805.6M+1.5%	$793.5M+2.7%	$772.5M+0.9%	$766.0M+29.4%	$592.1M-0.2%	$593.1M-36.7%	$937.2M+12.5%	$832.9M+26.8%	$656.6M+482.6%	$112.7M-65.6%	$327.8M
Retained Earnings	-$184.9M+10.3%	-$206.1M+12.9%	-$236.8M+23.9%	-$311.2M+13.4%	-$359.5M-13.3%	-$317.2M-1579.9%	$21.4M+14.9%	$18.7M+204.4%	-$17.9M-1612.3%	-$1.0M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$1.8B+15.6%	$1.7B+10.5%	$1.6B+16.8%	$1.6B+17.9%	$1.5B+16.9%	$1.5B+19.7%	$1.4B+12.2%	$1.3B+13.9%
Current Assets	$436.1M-0.7%	$444.4M-2.9%	$354.4M-8.1%	$380.3M-4.1%	$439.4M+14.4%	$457.9M+11.2%	$385.5M-15.1%	$396.7M-15.6%
Cash & Equivalents	$33.4M-34.8%	$56.0M+100.7%	$18.1M-9.5%	$17.8M+63.0%	$51.2M+211.8%	$27.9M+118.7%	$20.0M-65.0%	$10.9M-56.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$48.0M+15.2%	$37.3M-8.5%	$34.3M-10.8%	$38.0M+6.0%	$41.7M+11.1%	$40.8M+8.4%	$38.4M-0.5%	$35.8M-20.2%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$48.5M+166.2%	$48.5M+166.2%	$48.5M+166.2%	$45.1M+49.1%	$18.2M-50.3%	$18.2M-41.6%	$18.2M+289.0%	$30.3M+546.1%
Total Liabilities	$650.2M+4.3%	$587.2M-6.5%	$668.5M+48.3%	$656.5M+53.7%	$623.4M+48.1%	$628.3M+55.9%	$450.7M+38.3%	$427.2M+40.8%
Current Liabilities	$276.4M+26.2%	$231.6M-7.3%	$225.7M-3.3%	$231.3M+3.9%	$219.1M+3.0%	$249.9M+17.8%	$233.4M+10.3%	$222.6M+0.9%
Non-Current Liabilities	$373.8M-7.5%	$355.7M-6.0%	$442.8M+103.7%	$425.2M+107.8%	$404.3M+94.0%	$378.4M+98.2%	$217.4M+89.9%	$204.6M+147.1%
Long-Term Debt	$196.4M-27.5%	$199.6M-18.8%	$285.0M+235.3%	$285.4M+256.8%	$270.8M+200.9%	$245.9M+227.9%	$85.0M	$80.0M
Total Equity	$1.0B+31.3%	$991.5M+25.0%	$805.6M+1.5%	$808.1M+1.5%	$799.3M+2.2%	$793.1M+3.0%	$793.5M+2.7%	$796.5M+4.9%
Retained Earnings	-$155.3M+17.1%	-$176.3M+10.9%	-$184.9M+10.3%	-$184.6M+9.7%	-$187.3M+15.0%	-$197.9M+15.1%	-$206.1M+12.9%	-$204.5M+22.6%

Not reported in any period shown, so not listed: Accounts Receivable.

WTTR Cash Flow Statement

WTTR quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$234.1M	$214.7M-8.6%	$234.9M-17.7%	$285.4M+758.7%	$33.2M+304.5%	-$16.2M-115.4%	$105.8M-48.1%	$203.9M-12.2%	$232.4M+8116.9%	-$2.9M-156.5%	$5.1M-96.6%	$152.0M
Depreciation & Amortization	N/A	$5.3M+56.3%	$3.4M+49.6%	$2.3M-98.0%	$115.7M+25.2%	$92.5M-9.1%	$101.7M-15.7%	$120.7M-9.8%	$133.7M+29.3%	$103.4M+6.5%	$97.1M-9.8%	$107.7M
Stock-Based Compensation	N/A	$19.9M-24.6%	$26.4M+51.8%	$17.4M+11.6%	$15.6M+64.4%	$9.5M+64.3%	$5.8M-62.8%	$15.5M+49.3%	$10.4M+34.8%	$7.7M+2326.2%	$317K-54.2%	$692K
Capital Expenditures	$316.1M	$294.6M+70.1%	$173.2M+27.4%	$135.9M+89.0%	$71.9M+79.7%	$40.0M+88.3%	$21.2M-80.7%	$110.1M-33.4%	$165.4M+67.5%	$98.7M+172.0%	$36.3M-32.9%	$54.1M
Free Cash Flow	-$82.0M	-$79.9M-229.4%	$61.7M-58.7%	$149.5M+486.7%	-$38.7M+31.3%	-$56.2M-166.5%	$84.6M-9.8%	$93.8M+39.9%	$67.0M+166.0%	-$101.6M-226.1%	-$31.2M-131.8%	$97.9M
Investing Cash Flow	-$387.2M	-$405.0M-27.1%	-$318.6M-132.3%	-$137.2M-157.6%	-$53.2M+17.4%	-$64.5M-1095.2%	-$5.4M+93.0%	-$77.4M+54.1%	-$168.4M-7.4%	-$156.7M-481.5%	-$27.0M+30.4%	-$38.7M
Financing Cash Flow	$135.3M	$188.4M+303.9%	$46.6M+147.4%	-$98.4M-68.4%	-$58.5M-2199.4%	-$2.5M+76.3%	-$10.7M+83.4%	-$64.7M-31.2%	-$49.3M-140.3%	$122.4M+168.7%	$45.6M+142.4%	-$107.3M
Dividends Paid	$35.1M	$33.7M+13.1%	$29.7M+19.3%	$24.9M+314.0%	$6.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$8.9M	$7.3M-7.9%	$7.9M-87.2%	$61.8M+205.6%	$20.2M+1575.8%	$1.2M-88.9%	$10.9M-41.5%	$18.6M+12.3%	$16.6M+5476.4%	$297K	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$86.7M+5.0%	$10.2M+302.4%	$65.5M-3.4%	$71.7M+38.2%	$82.6M-0.6%	-$5.1M-115.8%	$67.8M-18.5%	$51.9M-56.1%
Depreciation & Amortization	$1.2M-37.0%	$1.1M+21.2%	$1.2M+58.5%	$1.3M+98.2%	$1.9M+156.4%	$925K-26.5%	$737K+100.7%	$661K-98.1%
Stock-Based Compensation	N/A	$5.8M+67.3%	N/A	N/A	N/A	$3.5M-45.3%	N/A	N/A
Capital Expenditures	$71.0M-10.6%	$78.4M+61.8%	$71.5M+29.8%	$95.2M+154.4%	$79.4M+62.2%	$48.4M+43.4%	$55.1M+64.6%	$37.4M-15.3%
Free Cash Flow	$15.7M+394.2%	-$68.1M-27.4%	-$6.0M-147.6%	-$23.5M-263.0%	$3.2M-90.7%	-$53.5M-3173.4%	$12.7M-74.5%	$14.4M-80.5%
Investing Cash Flow	-$112.2M-49.7%	-$77.5M+41.5%	-$71.3M-31.0%	-$126.2M-214.6%	-$75.0M+14.0%	-$132.5M+3.2%	-$54.4M-68.7%	-$40.1M-19.5%
Financing Cash Flow	$2.9M-81.5%	$105.2M-27.7%	$6.1M+239.6%	$21.2M+222.8%	$15.7M+101.9%	$145.5M+140.7%	-$4.3M+77.1%	-$17.2M+75.4%
Dividends Paid	$9.6M+15.3%	$8.8M+2.2%	$8.4M+2.4%	$8.4M+19.5%	$8.3M+18.1%	$8.6M+14.4%	$8.2M+17.0%	$7.0M+20.5%
Share Buybacks	$621K+117.1%	$7.6M+21.1%	$377K-36.0%	$332K+94.2%	$286K+83.3%	$6.3M-10.1%	$589K-95.0%	$171K-38.0%

WTTR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WTTR quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Gross Margin	14.4%-0.7pp	15.1%+0.5pp	14.6%+3.0pp	11.6%+8.9pp	2.7%+7.6pp	-4.8%-16.4pp	11.5%-1.5pp	13.0%+4.6pp	8.3%+22.9pp	-14.6%-16.9pp	2.3%
Operating Margin	2.1%-1.7pp	3.8%-0.1pp	3.9%+1.0pp	2.8%+11.4pp	-8.6%+56.7pp	-65.2%-67.0pp	1.8%-2.2pp	4.0%+8.4pp	-4.3%+94.5pp	-98.9%-86.0pp	-12.8%
Net Margin	1.5%-0.6pp	2.1%-2.6pp	4.7%+1.2pp	3.5%+9.0pp	-5.5%+50.4pp	-56.0%-56.2pp	0.2%-2.2pp	2.4%+4.8pp	-2.4%-2.1pp	-0.3%+15.0pp	-15.3%
Return on Equity	2.6%-1.2pp	3.9%-5.8pp	9.6%+3.3pp	6.3%+13.4pp	-7.1%+50.0pp	-57.1%-57.4pp	0.3%-4.1pp	4.4%+6.9pp	-2.6%-1.6pp	-0.9%+24.1pp	-25.0%
Return on Assets	1.3%-0.9pp	2.2%-3.9pp	6.1%+2.2pp	4.0%+8.4pp	-4.4%+34.3pp	-38.7%-38.9pp	0.2%-2.5pp	2.7%+3.9pp	-1.2%-1.0pp	-0.3%	N/A
Current Ratio	1.57-0.1x	1.65-0.5x	2.15-0.1x	2.24-0.2x	2.44-1.5x	3.96+1.2x	2.74+0.3x	2.400.0x	2.41-0.3x	2.69	N/A
Debt-to-Equity	0.35+0.2x	0.11-0.3x	0.42+0.4x	0.02-0.4x	0.43+0.1x	0.290.0x	0.25+0.2x	0.05-0.1x	0.11-2.5x	2.59	N/A
Asset Turnover	0.88-0.2x	1.06-0.2x	1.30+0.2x	1.13+0.3x	0.80+0.1x	0.69-0.3x	0.96-0.2x	1.12+0.6x	0.51-0.2x	0.75	N/A
FCF Margin	-5.7%-9.9pp	4.3%-5.2pp	9.4%+12.2pp	-2.8%+4.6pp	-7.4%-21.3pp	14.0%+6.7pp	7.3%+2.9pp	4.4%+19.1pp	-14.7%-4.4pp	-10.3%-28.6pp	18.3%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	19.4%+3.6pp	17.8%+2.9pp	13.1%+0.4pp	13.5%-3.3pp	15.9%-0.6pp	14.9%+0.5pp	12.7%-1.9pp	16.8%+2.4pp
Operating Margin	8.7%+4.4pp	4.9%+0.8pp	-0.1%-0.9pp	-0.5%-7.2pp	4.2%-1.3pp	4.2%+2.2pp	0.8%-1.0pp	6.6%+2.3pp
Net Margin	5.3%+2.4pp	2.4%+0.2pp	-0.1%+0.4pp	0.8%-3.4pp	2.9%-0.6pp	2.2%+1.2pp	-0.5%-7.8pp	4.3%+0.6pp
Return on Equity	2.0%+0.7pp	0.9%-0.2pp	0.0%+0.2pp	0.3%-1.7pp	1.3%-0.3pp	1.0%+0.6pp	-0.2%-3.8pp	2.0%+0.1pp
Return on Assets	1.2%+0.5pp	0.5%0.0pp	0.0%+0.1pp	0.2%-1.0pp	0.7%-0.3pp	0.5%+0.3pp	-0.1%-2.4pp	1.2%0.0pp
Current Ratio	1.58-0.4x	1.92+0.1x	1.57-0.1x	1.64-0.1x	2.01+0.2x	1.83-0.1x	1.65-0.5x	1.78-0.3x
Debt-to-Equity	0.19-0.2x	0.20-0.1x	0.35+0.2x	0.35+0.3x	0.34+0.2x	0.31+0.2x	0.11+0.1x	0.10-0.3x
Asset Turnover	0.220.0x	0.210.0x	0.220.0x	0.20-0.1x	0.240.0x	0.240.0x	0.26-0.1x	0.28-0.1x
FCF Margin	4.0%+3.1pp	-18.6%-4.3pp	-1.8%-5.4pp	-7.3%-11.2pp	0.9%-8.5pp	-14.3%-13.8pp	3.6%-9.6pp	3.9%-15.1pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Select Water Solutions, Inc. WTTR	FY2025	$1.4B	$21.2M	1.5%	$2.5B	26/100
Enerflex Ltd. EFXT	FY2025	$2.6B	$64.0M	2.5%	$2.9B	43/100
Innovex International, Inc. INVX	FY2025	$978.3M	$83.3M	8.5%	$2.0B	73/100
Bristow Group Inc. VTOL	FY2025	$1.5B	$129.1M	8.7%	$1.2B	51/100
RPC, Inc. RES	FY2025	$1.6B	$32.1M	2.0%	$1.3B	59/100
MRC GLOBAL INC. MRC	FY2024	$3.0B	$55.0M	1.8%	$1.2B	50/100

Where Select Water Solutions, Inc. Ranks

Frequently Asked Questions

What is Select Water Solutions, Inc.'s annual revenue?

Select Water Solutions, Inc. (WTTR) reported $1.4B in total revenue for fiscal year 2025. This represents a -3.1% 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 Select Water Solutions, Inc.'s revenue growing?

Select Water Solutions, Inc. (WTTR) revenue declined by 3.1% year-over-year, from $1.5B to $1.4B in fiscal year 2025.

Is Select Water Solutions, Inc. profitable?

Yes, Select Water Solutions, Inc. (WTTR) reported a net income of $21.2M in fiscal year 2025, with a net profit margin of 1.5%.

What is Select Water Solutions, Inc.'s EBITDA?

Select Water Solutions, Inc. (WTTR) had EBITDA of $34.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Select Water Solutions, Inc. have?

As of fiscal year 2025, Select Water Solutions, Inc. (WTTR) had $18.1M in cash and equivalents against $285.0M in long-term debt.

What is Select Water Solutions, Inc.'s gross margin?

Select Water Solutions, Inc. (WTTR) had a gross margin of 14.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Select Water Solutions, Inc.'s operating margin?

Select Water Solutions, Inc. (WTTR) had an operating margin of 2.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Select Water Solutions, Inc.'s net profit margin?

Select Water Solutions, Inc. (WTTR) had a net profit margin of 1.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Select Water Solutions, Inc.'s return on equity (ROE)?

Select Water Solutions, Inc. (WTTR) has a return on equity of 2.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Select Water Solutions, Inc.'s free cash flow?

Select Water Solutions, Inc. (WTTR) recorded an outflow of $79.9M in free cash flow during fiscal year 2025. This represents a -229.4% 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 Select Water Solutions, Inc.'s operating cash flow?

Select Water Solutions, Inc. (WTTR) generated $214.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Select Water Solutions, Inc.'s total assets?

Select Water Solutions, Inc. (WTTR) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Select Water Solutions, Inc.'s capital expenditures?

Select Water Solutions, Inc. (WTTR) invested $294.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Select Water Solutions, Inc. buy back shares?

Yes, Select Water Solutions, Inc. (WTTR) spent $7.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Select Water Solutions, Inc.'s current ratio?

Select Water Solutions, Inc. (WTTR) had a current ratio of 1.57 as of fiscal year 2025, which is generally considered healthy.

What is Select Water Solutions, Inc.'s debt-to-equity ratio?

Select Water Solutions, Inc. (WTTR) had a debt-to-equity ratio of 0.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Select Water Solutions, Inc.'s return on assets (ROA)?

Select Water Solutions, Inc. (WTTR) had a return on assets of 1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Select Water Solutions, Inc.'s P/E ratio?

Select Water Solutions, Inc. (WTTR) trades at 77.9x earnings, its market capitalization divided by net income of $32.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.5B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Select Water Solutions, Inc.'s price-to-sales ratio?

Select Water Solutions, Inc. (WTTR) trades at 1.7x sales, its market capitalization divided by revenue of $1.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.5B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Select Water Solutions, Inc.'s Altman Z-Score?

Select Water Solutions, Inc. (WTTR) has an Altman Z-Score of 3.11, 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 Select Water Solutions, Inc.'s Piotroski F-Score?

Select Water Solutions, Inc. (WTTR) has a Piotroski F-Score of 3 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 Select Water Solutions, Inc.'s earnings high quality?

Select Water Solutions, Inc. (WTTR) has an earnings quality ratio of 10.12x, 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 Select Water Solutions, Inc. cover its interest payments?

Select Water Solutions, Inc. (WTTR) has an interest coverage ratio of 1.24x, meaning it can struggle to 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 Select Water Solutions, Inc.?

Select Water Solutions, Inc. (WTTR) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its energy 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.