This page shows Zurn Elkay Water Solutions Corp (ZWS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Margin expansion and cash-rich execution turned moderate growth into a more self-funded operating model.
Across the recent period, gross margin moved from36.3% to45.1% , even as asset levels later stayed broadly flat, so the company is getting more economic output from a similar balance-sheet base. The less obvious piece is that operating cash flow reached$346.5M while long-term debt was still about$495.6M , making the improvement look internally financed rather than debt-driven.
Revenue kept growing even as accounts receivable fell to
Cash increased to
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 Zurn Elkay Water Solutions 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.
Zurn Elkay Water Solutions Corp has an operating margin of 16.4%, meaning the company retains $16 of operating profit per $100 of revenue. This strong profitability earns a score of 79/100, reflecting efficient cost management and pricing power. This is up from 15.6% the prior year.
Zurn Elkay Water Solutions Corp's revenue grew 8.3% year-over-year to $1.7B, a solid pace of expansion. This earns a growth score of 52/100.
Zurn Elkay Water Solutions Corp has a moderate D/E ratio of 0.31. This balance of debt and equity financing earns a leverage score of 59/100.
With a current ratio of 3.13, Zurn Elkay Water Solutions Corp holds $3.13 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 78/100.
Zurn Elkay Water Solutions Corp earns a strong 12.3% return on equity (ROE), meaning it generates $12 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 69/100. This is up from 10.1% the prior year.
Zurn Elkay Water Solutions Corp scores 5.04, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($7.9B) relative to total liabilities ($1.1B). 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.
Zurn Elkay Water Solutions Corp passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Zurn Elkay Water Solutions Corp generates $1.75 in operating cash flow ($346.5M OCF vs $198.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Zurn Elkay Water Solutions Corp earns $9.8 in operating income for every $1 of interest expense ($278.9M vs $28.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Zurn Elkay Water Solutions Corp generated $1.7B in revenue in fiscal year 2025. This represents an increase of 8.3% from the prior year.
Zurn Elkay Water Solutions Corp's EBITDA was $369.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.3% from the prior year.
Zurn Elkay Water Solutions Corp reported $198.0M in net income in fiscal year 2025. This represents an increase of 23.6% from the prior year.
Zurn Elkay Water Solutions Corp earned $1.15 per diluted share (EPS) in fiscal year 2025. This represents an increase of 25.0% from the prior year.
Cash & Balance Sheet
Zurn Elkay Water Solutions Corp held $300.5M in cash against $495.6M in long-term debt as of fiscal year 2025.
Zurn Elkay Water Solutions Corp paid $0.38 per share in dividends in fiscal year 2025. This represents an increase of 15.2% from the prior year.
Zurn Elkay Water Solutions Corp had 167M shares outstanding in fiscal year 2025. This represents a decrease of 1.9% from the prior year.
Margins & Returns
Zurn Elkay Water Solutions Corp's gross margin was 45.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.0 percentage points from the prior year.
Zurn Elkay Water Solutions Corp's operating margin was 16.4% in fiscal year 2025, reflecting core business profitability. This is up 0.8 percentage points from the prior year.
Zurn Elkay Water Solutions Corp's net profit margin was 11.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.4 percentage points from the prior year.
Zurn Elkay Water Solutions Corp's ROE was 12.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.2 percentage points from the prior year.
Capital Allocation
Zurn Elkay Water Solutions Corp spent $159.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 6.5% from the prior year.
ZWS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $433.0M+6.3% | $407.2M-10.6% | $455.4M+2.5% | $444.5M+14.3% | $388.8M+4.9% | $370.7M-9.6% | $410.0M-0.5% | $412.0M |
| Cost of Revenue | $227.2M+0.4% | $226.4M-11.1% | $254.7M+5.2% | $242.2M+16.6% | $207.8M-0.8% | $209.5M-5.0% | $220.6M-2.3% | $225.7M |
| Gross Profit | $205.8M+13.8% | $180.8M-9.9% | $200.7M-0.8% | $202.3M+11.8% | $181.0M+12.3% | $161.2M-14.9% | $189.4M+1.7% | $186.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $108.2M+6.6% | $101.5M-4.9% | $106.7M-1.4% | $108.2M+6.9% | $101.2M+8.5% | $93.3M-8.3% | $101.7M+2.8% | $98.9M |
| Operating Income | $82.1M+35.9% | $60.4M-22.1% | $77.5M-0.1% | $77.6M+22.4% | $63.4M+28.6% | $49.3M-29.8% | $70.2M-2.4% | $71.9M |
| Interest Expense | $6.2M-4.6% | $6.5M-8.5% | $7.1M-7.8% | $7.7M+5.5% | $7.3M-2.7% | $7.5M-9.6% | $8.3M-2.4% | $8.5M |
| Income Tax | $18.0M+56.5% | $11.5M-41.0% | $19.5M+9.6% | $17.8M+17.9% | $15.1M+164.9% | $5.7M-66.3% | $16.9M+2.4% | $16.5M |
| Net Income | $58.9M+39.9% | $42.1M-31.9% | $61.8M+22.4% | $50.5M+15.8% | $43.6M+19.8% | $36.4M-16.3% | $43.5M-5.4% | $46.0M |
| EPS (Diluted) | $0.35 | N/A | $0.36+24.1% | $0.29+11.5% | $0.26 | N/A | $0.25-7.4% | $0.27 |
ZWS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.7B+0.2% | $2.7B-0.2% | $2.7B+1.1% | $2.7B+1.8% | $2.6B-1.5% | $2.6B-2.1% | $2.7B+0.9% | $2.7B |
| Current Assets | $836.5M+3.1% | $811.7M+1.4% | $800.7M+6.2% | $754.0M+8.1% | $697.4M-3.4% | $722.1M-4.4% | $755.1M+4.4% | $723.2M |
| Cash & Equivalents | $273.5M-9.0% | $300.5M+15.5% | $260.1M+28.8% | $201.9M+39.5% | $144.7M-26.9% | $198.0M+5.4% | $187.9M+15.5% | $162.7M |
| Inventory | $292.3M+6.5% | $274.4M+0.4% | $273.2M-0.9% | $275.8M-1.7% | $280.6M+2.9% | $272.6M-2.2% | $278.6M+0.9% | $276.2M |
| Accounts Receivable | $242.7M+31.3% | $184.8M-20.4% | $232.3M-3.2% | $240.1M-1.1% | $242.8M+20.1% | $202.2M-16.6% | $242.4M+1.0% | $240.1M |
| Goodwill | $794.4M-0.1% | $795.0M+0.1% | $794.4M-0.2% | $795.6M+0.2% | $794.4M0.0% | $794.2M-0.3% | $796.5M+0.2% | $795.1M |
| Total Liabilities | $1.1B+0.1% | $1.1B-1.5% | $1.1B+0.2% | $1.1B+2.8% | $1.1B-0.1% | $1.1B-5.1% | $1.1B+2.9% | $1.1B |
| Current Liabilities | $258.5M-0.3% | $259.4M-10.0% | $288.2M+3.6% | $278.3M+14.7% | $242.6M-2.1% | $247.8M-11.2% | $279.2M+9.4% | $255.1M |
| Long-Term Debt | $497.6M+0.4% | $495.6M0.0% | $495.5M+0.1% | $495.1M0.0% | $495.0M0.0% | $494.8M0.0% | $494.7M0.0% | $494.6M |
| Total Equity | $1.6B+0.2% | $1.6B+0.7% | $1.6B+1.7% | $1.6B+1.1% | $1.5B-2.4% | $1.6B0.0% | $1.6B-0.5% | $1.6B |
| Retained Earnings | -$1.1B+0.8% | -$1.1B+1.5% | -$1.1B+3.1% | -$1.2B+1.5% | -$1.2B-2.9% | -$1.2B+1.4% | -$1.2B-0.6% | -$1.2B |
ZWS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $46.1M-49.7% | $91.7M-9.5% | $101.3M-8.4% | $110.6M+157.8% | $42.9M-32.5% | $63.6M-30.0% | $90.9M+6.8% | $85.1M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$3.4M+63.0% | -$9.2M-24.3% | -$7.4M+17.8% | -$9.0M-109.3% | -$4.3M+52.7% | -$9.1M-122.0% | -$4.1M+16.3% | -$4.9M |
| Financing Cash Flow | -$69.2M-60.2% | -$43.2M-22.0% | -$35.4M+24.0% | -$46.6M+49.4% | -$92.1M-120.9% | -$41.7M+32.3% | -$61.6M+16.0% | -$73.3M |
| Dividends Paid | $18.4M-0.5% | $18.5M+22.5% | $15.1M0.0% | $15.1M-0.7% | $15.2M-0.7% | $15.3M+12.5% | $13.6M-1.4% | $13.8M |
| Share Buybacks | $50.0M+100.0% | $25.0M0.0% | $25.0M-23.1% | $32.5M-58.0% | $77.4M+281.3% | $20.3M-59.4% | $50.0M-18.0% | $61.0M |
ZWS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.5%+3.1pp | 44.4%+0.3pp | 44.1%-1.4pp | 45.5%-1.0pp | 46.6%+3.1pp | 43.5%-2.7pp | 46.2%+1.0pp | 45.2% |
| Operating Margin | 19.0%+4.1pp | 14.8%-2.2pp | 17.0%-0.4pp | 17.5%+1.2pp | 16.3%+3.0pp | 13.3%-3.8pp | 17.1%-0.3pp | 17.4% |
| Net Margin | 13.6%+3.3pp | 10.3%-3.2pp | 13.6%+2.2pp | 11.4%+0.2pp | 11.2%+1.4pp | 9.8%-0.8pp | 10.6%-0.6pp | 11.2% |
| Return on Equity | 3.7%+1.0pp | 2.6%-1.3pp | 3.9%+0.6pp | 3.2%+0.4pp | 2.8%+0.5pp | 2.3%-0.5pp | 2.7%-0.1pp | 2.9% |
| Return on Assets | 2.2%+0.6pp | 1.6%-0.7pp | 2.3%+0.4pp | 1.9%+0.2pp | 1.7%+0.3pp | 1.4%-0.2pp | 1.6%-0.1pp | 1.7% |
| Current Ratio | 3.24+0.1 | 3.13+0.4 | 2.78+0.1 | 2.71-0.2 | 2.87-0.0 | 2.91+0.2 | 2.70-0.1 | 2.83 |
| Debt-to-Equity | 0.310.0 | 0.310.0 | 0.310.0 | 0.320.0 | 0.320.0 | 0.310.0 | 0.310.0 | 0.31 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Zurn Elkay Water Solutions Corp's annual revenue?
Zurn Elkay Water Solutions Corp (ZWS) reported $1.7B in total revenue for fiscal year 2025. This represents a 8.3% 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 Zurn Elkay Water Solutions Corp's revenue growing?
Zurn Elkay Water Solutions Corp (ZWS) revenue grew by 8.3% year-over-year, from $1.6B to $1.7B in fiscal year 2025.
Is Zurn Elkay Water Solutions Corp profitable?
Yes, Zurn Elkay Water Solutions Corp (ZWS) reported a net income of $198.0M in fiscal year 2025, with a net profit margin of 11.7%.
What is Zurn Elkay Water Solutions Corp's EBITDA?
Zurn Elkay Water Solutions Corp (ZWS) had EBITDA of $369.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Zurn Elkay Water Solutions Corp have?
As of fiscal year 2025, Zurn Elkay Water Solutions Corp (ZWS) had $300.5M in cash and equivalents against $495.6M in long-term debt.
What is Zurn Elkay Water Solutions Corp's gross margin?
Zurn Elkay Water Solutions Corp (ZWS) had a gross margin of 45.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Zurn Elkay Water Solutions Corp's operating margin?
Zurn Elkay Water Solutions Corp (ZWS) had an operating margin of 16.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Zurn Elkay Water Solutions Corp's net profit margin?
Zurn Elkay Water Solutions Corp (ZWS) had a net profit margin of 11.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Zurn Elkay Water Solutions Corp pay dividends?
Yes, Zurn Elkay Water Solutions Corp (ZWS) paid $0.38 per share in dividends during fiscal year 2025.
What is Zurn Elkay Water Solutions Corp's return on equity (ROE)?
Zurn Elkay Water Solutions Corp (ZWS) has a return on equity of 12.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Zurn Elkay Water Solutions Corp's operating cash flow?
Zurn Elkay Water Solutions Corp (ZWS) generated $346.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Zurn Elkay Water Solutions Corp's total assets?
Zurn Elkay Water Solutions Corp (ZWS) had $2.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Zurn Elkay Water Solutions Corp's current ratio?
Zurn Elkay Water Solutions Corp (ZWS) had a current ratio of 3.13 as of fiscal year 2025, which is generally considered healthy.
What is Zurn Elkay Water Solutions Corp's debt-to-equity ratio?
Zurn Elkay Water Solutions Corp (ZWS) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Zurn Elkay Water Solutions Corp's return on assets (ROA)?
Zurn Elkay Water Solutions Corp (ZWS) had a return on assets of 7.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Zurn Elkay Water Solutions Corp's Altman Z-Score?
Zurn Elkay Water Solutions Corp (ZWS) has an Altman Z-Score of 5.04, 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 Zurn Elkay Water Solutions Corp's Piotroski F-Score?
Zurn Elkay Water Solutions Corp (ZWS) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. 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 Zurn Elkay Water Solutions Corp's earnings high quality?
Zurn Elkay Water Solutions Corp (ZWS) has an earnings quality ratio of 1.75x, 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 Zurn Elkay Water Solutions Corp cover its interest payments?
Zurn Elkay Water Solutions Corp (ZWS) has an interest coverage ratio of 9.8x, 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 Zurn Elkay Water Solutions Corp?
Zurn Elkay Water Solutions Corp (ZWS) scores 56 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.