Flowserve Corporation
FLS Industrials Specialty Industrial Machinery
In the quarter to June 2026, revenue fell 1.59%, EPS grew 25.8%, free cash flow fell 18.5% and total debt rose 43.7%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for three, operating cash flow growth for three; insiders bought in the last twelve months.
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Flowserve Corporation (FLS) Altman Z-score
Flowserve Corporation's Altman Z-score for fiscal 2025 is 4.01, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 4.01 | 0.24 |
| FY2024 | 3.77 | 0.31 |
| FY2023 | 3.46 | 0.33 |
| FY2022 | 3.13 | (0.04) |
| FY2021 | 3.17 | 0.13 |
| FY2020 | 3.04 | (0.63) |
| FY2019 | 3.67 | 0.25 |
| FY2018 | 3.42 | 0.10 |
| FY2017 | 3.32 | (0.31) |
| FY2016 | 3.63 | 0.07 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.27 | — | 0.32 | |
| Retained earnings / total assets | 0.75 | — | 1.05 | |
| EBIT / total assets | 0.07 | — | 0.24 | |
| Market value of equity / total liabilities | 2.61 | — | 1.57 | |
| Sales / total assets | 0.83 | — | 0.83 | |
| Altman Z-score | Safe zone | 4.01 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.39 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| GGG Graco Inc. compare | 15.5× |
| WTS Watts Water Technologies, Inc. compare | 8.9× |
| AOS A. O. Smith Corporation compare | 8.3× |
| DCI Donaldson Company, Inc. compare | 5.7× |
| PNR Pentair plc compare | 5.1× |
| FLS Flowserve Corporation | 4.0× |
| GNRC Generac Holdings Inc. compare | 3.6× |
| GTES Gates Industrial Corporation PLC compare | 2.3× |
| RRX Regal Rexnord Corporation compare | 1.7× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets